FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks October 21, 2021

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at 

Federal Reserve Banks

Week ended

Oct 20, 2021 Oct 13, 2021 Oct 21, 2020

Wednesday

Oct 20, 2021

Reserve Bank credit 8,517,409 + 85,314 +1,406,544 8,526,584

Securities held outright1 8,038,175 + 85,449 +1,504,725 8,048,546

U.S. Treasury securities 5,481,186 + 25,560 + 985,582 5,499,267

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,721,971 + 24,859 + 888,276 4,737,972

Notes and bonds, inflation-indexed2 367,928 + 458 + 73,510 369,643

Inflation compensation3 65,244 + 244 + 23,797 65,609

Federal agency debt securities2 2,347 0 0 2,347

Mortgage-backed securities4 2,554,642 + 59,889 + 519,143 2,546,932

Unamortized premiums on securities held outright5 355,806 + 1,144 + 18,078 355,662

Unamortized discounts on securities held outright5 -16,005 - 125 - 11,382 -16,058

Repurchase agreements6 0 0 - 1,000 0

Foreign official 0 0 - 1,000 0

Others 0 0 0 0

Loans 53,694 - 2,586 - 20,456 52,761

Primary credit 470 + 106 - 2,334 606

Secondary credit 0 0 0 0

Seasonal credit 14 - 5 + 5 11

Primary Dealer Credit Facility 0 0 - 193 0

Money Market Mutual Fund Liquidity Facility 0 0 - 6,019 0

Paycheck Protection Program Liquidity Facility 53,210 - 2,686 - 11,915 52,144

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,559 0

Net portfolio holdings of Corporate Credit Facilities LLC7 515 0 - 44,839 515

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 30,308 - 150 - 10,412 30,285

Net portfolio holdings of Municipal Liquidity Facility LLC7 9,779 + 2 - 6,770 9,780

Net portfolio holdings of TALF II LLC7 4,495 0 - 7,260 4,495

Float -111 + 16 + 108 -126

Central bank liquidity swaps8 345 + 21 - 7,106 336

Other Federal Reserve assets9 40,407 + 1,543 + 1,417 40,388

Foreign currency denominated assets10 20,703 - 79 - 898 20,735

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 5,200 0 0 5,200

Treasury currency outstanding11 50,810 + 14 + 415 50,810

Total factors supplying reserve funds 8,605,163 + 85,249 +1,406,061 8,614,370

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and 

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Oct 20, 2021 Oct 13, 2021 Oct 21, 2020

Wednesday

Oct 20, 2021

Currency in circulation11 2,204,098 + 521 + 162,062 2,204,329

Reverse repurchase agreements12 1,757,159 + 93,820 +1,567,823 1,786,368

Foreign official and international accounts 289,393 - 3,168 + 100,060 292,407

Others 1,467,766 + 96,988 +1,467,763 1,493,961

Treasury cash holdings 59 + 9 + 20 60

Deposits with F.R. Banks, other than reserve balances 432,613 + 49,651 -1,510,198 499,677

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 83,386 + 5,528 -1,641,406 117,364

Foreign official 5,801 + 537 - 14,233 8,768

Other13 343,425 + 43,585 + 145,440 373,545

Treasury contributions to credit facilities14 26,397 0 - 87,603 26,397

Other liabilities and capital15 50,122 + 1,037 - 279 47,196

Total factors, other than reserve balances, 

absorbing reserve funds 4,470,449 + 145,038 + 131,827 4,564,027

Reserve balances with Federal Reserve Banks 4,134,714 - 59,789 +1,274,234 4,050,343

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of 

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been 

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest 

basis.

6. Cash value of agreements.

7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned 

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the 

foreign central bank.

9. Includes bank premises, accrued interest, and other accounts receivable.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of 

$3.5 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Oct 20, 2021 Oct 13, 2021 Oct 21, 2020

Wednesday

Oct 20, 2021

Securities held in custody for foreign official and international 

accounts 3,481,652 - 1,267 + 78,863 3,474,860

Marketable U.S. Treasury securities1 3,067,472 + 1,317 + 96,668 3,070,387

Federal agency debt and mortgage-backed securities2 324,261 - 1,235 - 22,165 317,819

Other securities3 89,918 - 1,350 + 4,359 86,655

Securities lent to dealers 39,799 - 1,605 + 18,201 39,235

Overnight facility4 39,799 - 1,605 + 18,201 39,235

U.S. Treasury securities 39,799 - 1,605 + 18,201 39,235

Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral 

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the 

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.
H.4.1

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, October 20, 2021

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 348 269 3,284 48,860 0 ... 52,761

U.S. Treasury securities2

Holdings 80,856 304,867 706,735 2,108,800 1,001,502 1,296,509 5,499,267

Weekly changes + 22,906 - 14,454 + 689 + 11,998 + 6,348 + 5,857 + 33,343

Federal agency debt securities3

Holdings 0 0 0 0 2,134 213 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 23 1,757 64,051 2,481,101 2,546,932

Weekly changes 0 0 0 - 10 - 582 + 52,766 + 52,173

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 15,918 ... ... 15,918

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 4,373 ... ... 4,373

Loans held by TALF II LLC7 0 0 0 1,409 ... ... 1,409

Repurchase agreements8 0 0 ... ... ... ... 0

Central bank liquidity swaps9 236 100 0 0 0 0 336

Reverse repurchase agreements8 1,786,368 0 ... ... ... ... 1,786,368

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other 

credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II 

LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's 

statement of condition, respectively, consistent with consolidation under generally accepted accounting principles.

2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original 

face value of such securities.

3. Face value.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Book value of the loan participations held by the MS Facilities LLC.

6. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 

7. Book value of the loans held by the TALF II LLC. 

8. Cash value of agreements.

9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to 

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign 

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Oct 20, 2021

Mortgage-backed securities held outright1 2,546,932

Residential mortgage-backed securities 2,537,425

Commercial mortgage-backed securities 9,507

Commitments to buy mortgage-backed securities2 95,663

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 11

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 

180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed 

securities generally settle within three business days.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Oct 20, 2021

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

Corporate Credit Facilities LLC 0 0 515 515

MS Facilities LLC (Main Street Lending Program) 15,736 13,381 16,904 30,285

Municipal Liquidity Facility LLC 4,373 4,373 5,407 9,780

TALF II LLC 1,462 1,409 3,087 4,495

Note: Components may not sum to totals because of rounding.

1. Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under 

generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve 

Bank to the LLC upon settlement of the investment activity.

2. Outstanding amount of facility asset purchases:

a. For the Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. 

b. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 updated as of June 30, 2021.

c. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 a one-day lag after the transaction date.

d. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury 

contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash 

and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are 

excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal 

Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

Oct 20, 2021 Oct 13, 2021 Oct 21, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,205 + 5 - 277

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,440,911 + 83,705 +1,473,124

Securities held outright1 8,048,546 + 85,516 +1,489,186

U.S. Treasury securities 5,499,267 + 33,343 + 989,489

Bills2 326,044 0 0

Notes and bonds, nominal2 4,737,972 + 30,801 + 890,580

Notes and bonds, inflation-indexed2 369,643 + 2,001 + 74,882

Inflation compensation3 65,609 + 542 + 24,028

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,546,932 + 52,173 + 499,697

Unamortized premiums on securities held outright5 355,662 + 1,045 + 16,838

Unamortized discounts on securities held outright5 -16,058 - 181 - 11,450

Repurchase agreements6 0 0 - 1,000

Loans7 52,761 - 2,675 - 20,451

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,559

Net portfolio holdings of Corporate Credit Facilities LLC8 515 0 - 44,863

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 30,285 - 180 - 10,608

Net portfolio holdings of Municipal Liquidity Facility LLC8 9,780 + 1 - 6,770

Net portfolio holdings of TALF II LLC8 4,495 0 - 7,267

Items in process of collection (0) 55 - 70 + 1

Bank premises 1,462 - 85 - 734

Central bank liquidity swaps9 336 + 3 - 7,306

Foreign currency denominated assets10 20,735 + 26 - 1,045

Other assets11 38,926 + 594 + 1,982

Total assets (0) 8,564,943 + 84,001 +1,387,678

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

Oct 20, 2021 Oct 13, 2021 Oct 21, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,154,780 - 453 + 160,983

Reverse repurchase agreements12 1,786,368 + 128,746 +1,598,933

Deposits (0) 4,550,020 - 43,167 - 281,695

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 4,050,343 - 154,167 +1,160,213

U.S. Treasury, General Account 117,364 + 44,904 -1,582,133

Foreign official 8,768 + 3,504 - 12,479

Other13 (0) 373,545 + 62,591 + 152,704

Deferred availability cash items (0) 181 - 59 - 192

Treasury contributions to credit facilities14 26,397 0 - 87,603

Other liabilities and accrued dividends15 7,337 - 1,064 - 3,385

Total liabilities (0) 8,525,083 + 84,004 +1,387,041

Capital accounts

Capital paid in 33,074 - 4 + 676

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,859 - 4 + 636

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been 

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest 

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund 

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.

8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to 

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign 

central bank.

10. Revalued daily at current foreign currency exchange rates.

11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of 

$3.5 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, October 20, 2021

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificates and special drawing 

rights certificates 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075

Coin 1,205 14 21 115 47 176 104 229 17 30 87 147 218

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,440,911 140,213 4,748,414 177,474 316,189 562,891 491,870 458,169 109,925 81,979 112,169 371,493 870,125

Net portfolio holdings of Corporate 

Credit Facilities LLC2 515 0 515 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,285 30,285 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 9,780 0 9,780 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,495 0 4,495 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 336 15 113 12 29 70 15 13 6 3 4 6 49

Foreign currency denominated 

assets4 20,735 941 6,970 745 1,793 4,315 938 812 394 176 224 374 3,053

Other assets5 40,443 770 21,452 953 1,539 2,985 2,479 2,239 668 484 844 1,894 4,136

Interdistrict settlement account 0 + 32,666 - 489,857 + 17,011 + 35,883 + 21,009 + 66,618 + 116,467 + 23,657 - 2,920 + 19,805 + 55,838 + 103,823

Total assets 8,564,943 205,435 4,307,326 196,832 356,232 592,633 564,212 579,066 135,143 80,025 133,588 430,972 983,479

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, October 20, 2021 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes, net 2,154,780 70,914 689,992 61,440 103,341 154,112 315,591 120,573 64,140 32,828 55,093 194,782 291,974

Reverse repurchase agreements6 1,786,368 29,852 1,009,755 37,730 64,999 119,701 104,667 97,482 23,289 13,822 23,722 78,996 182,353

Deposits 4,550,020 88,127 2,579,534 95,895 183,653 309,808 141,784 358,946 46,755 32,949 54,111 155,898 502,560

Depository institutions 4,050,343 88,105 2,272,388 95,894 183,378 308,991 141,652 168,667 46,748 32,736 53,626 155,666 502,493

U.S. Treasury, General Account 117,364 0 117,364 0 0 0 0 0 0 0 0 0 0

Foreign official 8,768 2 8,742 1 3 8 2 2 1 0 0 1 6

Other7 373,545 20 181,040 0 271 809 131 190,277 6 212 485 231 61

Earnings remittances due to the U.S. 

Treasury8 1,531 13 897 30 61 99 92 72 18 10 19 67 154

Treasury contributions to credit facilities9 26,397 16,572 9,825 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 5,988 -1,808 3,980 237 283 711 612 452 198 189 222 320 592

Total liabilities 8,525,083 203,669 4,293,983 195,332 352,336 584,430 562,747 577,525 134,401 79,798 133,167 430,063 977,633

Capital

Capital paid in 33,074 1,458 11,062 1,256 3,309 6,790 1,158 1,275 613 170 348 786 4,847

Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 8,564,943 205,435 4,307,326 196,832 356,232 592,633 564,212 579,066 135,143 80,025 133,588 430,972 983,479

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, October 20, 2021 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities 

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between 

the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, 

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other credit extensions.

2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate 

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

4. Revalued daily at current foreign currency exchange rates.

5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. 

6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by 

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, 

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after 

providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap.

9. Book value. Amount of equity investments in MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

 

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal 

Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the 

FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans 

or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate 

Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began 

extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount 

provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose 

vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are 

used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help 

ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are 

used to secure the loan from the FRBB.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with 

generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the 

statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs 

consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in 

table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this 

table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 20, 2021

Federal Reserve notes outstanding 2,405,174

Less: Notes held by F.R. Banks not subject to collateralization 250,394

Federal Reserve notes to be collateralized 2,154,780

Collateral held against Federal Reserve notes 2,154,780

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,138,543

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,048,546

Less: Face value of securities under reverse repurchase agreements 1,748,826

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,299,720

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to 

adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase 

agreements.

2. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.