FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks October 14, 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 13, 2021 Oct 6, 2021 Oct 14, 2020

Wednesday

Oct 13, 2021

Reserve Bank credit 8,432,095 + 16,107 +1,386,724 8,442,556

Securities held outright1 7,952,726 + 15,744 +1,481,652 7,963,030

U.S. Treasury securities 5,455,626 + 15,730 + 978,868 5,465,924

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,697,112 + 14,116 + 878,028 4,707,171

Notes and bonds, inflation-indexed2 367,470 + 1,315 + 76,654 367,642

Inflation compensation3 65,000 + 299 + 24,186 65,067

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

Mortgage-backed securities4 2,494,753 + 14 + 502,784 2,494,759

Unamortized premiums on securities held outright5 354,662 - 125 + 19,685 354,617

Unamortized discounts on securities held outright5 -15,880 - 89 - 11,245 -15,877

Repurchase agreements6 0 0 - 1,000 0

Foreign official 0 0 - 1,000 0

Others 0 0 0 0

Loans 56,280 - 2,864 - 18,478 55,436

Primary credit 364 - 55 - 2,255 418

Secondary credit 0 0 0 0

Seasonal credit 19 - 7 - 7 18

Primary Dealer Credit Facility 0 0 - 193 0

Money Market Mutual Fund Liquidity Facility 0 0 - 6,137 0

Paycheck Protection Program Liquidity Facility 55,896 - 2,804 - 9,887 55,000

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,581 0

Net portfolio holdings of Corporate Credit Facilities LLC7 515 0 - 44,706 515

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 30,458 + 7 - 9,825 30,465

Net portfolio holdings of Municipal Liquidity Facility LLC7 9,777 + 1 - 6,771 9,779

Net portfolio holdings of TALF II LLC7 4,495 0 - 7,221 4,495

Float -127 + 70 + 119 -115

Central bank liquidity swaps8 324 - 4 - 7,808 333

Other Federal Reserve assets9 38,864 + 3,365 + 902 39,878

Foreign currency denominated assets10 20,782 - 144 - 839 20,709

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,852 + 14 + 464 50,852

Total factors supplying reserve funds 8,519,970 + 15,977 +1,386,349 8,530,358

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 13, 2021 Oct 6, 2021 Oct 14, 2020

Wednesday

Oct 13, 2021

Currency in circulation11 2,203,633 + 5,167 + 162,592 2,204,830

Reverse repurchase agreements12 1,663,339 - 63,020 +1,473,199 1,657,622

Foreign official and international accounts 292,561 + 1,114 + 102,451 292,921

Others 1,370,778 - 64,134 +1,370,748 1,364,701

Treasury cash holdings 50 - 1 + 23 59

Deposits with F.R. Banks, other than reserve balances 382,962 + 7,845 -1,491,214 388,677

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 77,858 - 57,724 -1,603,140 72,460

Foreign official 5,264 - 236 - 13,638 5,264

Other13 299,840 + 65,805 + 125,563 310,954

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

Other liabilities and capital15 49,085 + 1,531 - 3,223 48,263

Total factors, other than reserve balances, 

absorbing reserve funds 4,325,467 - 48,476 + 53,775 4,325,849

Reserve balances with Federal Reserve Banks 4,194,503 + 64,453 +1,332,574 4,204,509

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 13, 2021 Oct 6, 2021 Oct 14, 2020

Wednesday

Oct 13, 2021

Securities held in custody for foreign official and international 

accounts 3,482,919 + 4,933 + 72,419 3,481,002

Marketable U.S. Treasury securities1 3,066,155 + 4,795 + 87,404 3,064,615

Federal agency debt and mortgage-backed securities2 325,496 - 174 - 20,194 325,117

Other securities3 91,268 + 313 + 5,209 91,269

Securities lent to dealers 41,404 + 499 + 13,071 44,571

Overnight facility4 41,404 + 499 + 13,071 44,571

U.S. Treasury securities 41,404 + 499 + 13,071 44,571

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 13, 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 196 240 3,605 51,395 0 ... 55,436

U.S. Treasury securities2

Holdings 57,950 319,321 706,046 2,096,802 995,154 1,290,652 5,465,924

Weekly changes - 6,732 + 1,095 + 6,618 + 11,501 + 891 + 3,274 + 16,647

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 1,767 64,633 2,428,335 2,494,759

Weekly changes 0 0 0 0 0 + 10 + 10

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 15,911 ... ... 15,911

Municipal notes held by Municipal 

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

Loans held by TALF II LLC7 0 0 0 1,456 ... ... 1,456

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

Central bank liquidity swaps9 233 100 0 0 0 0 333

Reverse repurchase agreements8 1,657,622 0 ... ... ... ... 1,657,622

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 13, 2021

Mortgage-backed securities held outright1 2,494,759

Residential mortgage-backed securities 2,485,212

Commercial mortgage-backed securities 9,547

Commitments to buy mortgage-backed securities2 145,061

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 13, 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) 15,920 13,373 17,092 30,465

Municipal Liquidity Facility LLC 4,373 4,373 5,406 9,779

TALF II LLC 1,462 1,456 3,039 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 13, 2021 Oct 6, 2021 Oct 14, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,200 - 8 - 283

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,357,206 + 13,789 +1,414,401

Securities held outright1 7,963,030 + 16,657 +1,428,866

U.S. Treasury securities 5,465,924 + 16,647 + 980,946

Bills2 326,044 0 0

Notes and bonds, nominal2 4,707,171 + 15,203 + 880,315

Notes and bonds, inflation-indexed2 367,642 + 1,201 + 76,483

Inflation compensation3 65,067 + 243 + 24,148

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,494,759 + 10 + 447,920

Unamortized premiums on securities held outright5 354,617 - 190 + 17,049

Unamortized discounts on securities held outright5 -15,877 + 14 - 11,280

Repurchase agreements6 0 0 - 1,000

Loans7 55,436 - 2,692 - 19,234

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,559

Net portfolio holdings of Corporate Credit Facilities LLC8 515 0 - 44,785

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 30,465 + 8 - 10,082

Net portfolio holdings of Municipal Liquidity Facility LLC8 9,779 + 2 - 6,770

Net portfolio holdings of TALF II LLC8 4,495 0 - 7,221

Items in process of collection (0) 125 + 69 + 24

Bank premises 1,547 + 8 - 647

Central bank liquidity swaps9 333 + 5 - 7,145

Foreign currency denominated assets10 20,709 - 137 - 905

Other assets11 38,332 + 3,175 + 1,489

Total assets (0) 8,480,942 + 16,910 +1,329,516

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 13, 2021 Oct 6, 2021 Oct 14, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,155,233 + 3,735 + 161,381

Reverse repurchase agreements12 1,657,622 - 80,168 +1,461,794

Deposits (0) 4,593,187 + 92,701 - 198,254

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 4,204,510 + 36,966 +1,296,776

U.S. Treasury, General Account 72,460 - 23,394 -1,575,477

Foreign official 5,264 - 1,199 - 13,638

Other13 (0) 310,954 + 80,330 + 94,086

Deferred availability cash items (0) 240 + 68 - 363

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

Other liabilities and accrued dividends15 8,401 + 564 - 8,078

Total liabilities (0) 8,441,079 + 16,899 +1,328,875

Capital accounts

Capital paid in 33,078 + 11 + 681

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,863 + 11 + 641

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 13, 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 1,200 15 21 115 48 174 106 230 16 28 87 141 218

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,357,206 138,766 4,699,905 175,525 314,043 557,160 486,786 453,456 108,847 82,294 110,972 367,661 861,790

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 30,465 30,465 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 9,779 0 9,779 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 333 15 112 12 29 69 15 13 6 3 4 6 49

Foreign currency denominated 

assets4 20,709 940 6,961 744 1,790 4,309 937 811 394 176 224 373 3,050

Other assets5 40,003 761 21,150 941 1,521 2,944 2,519 2,211 661 508 836 1,870 4,081

Interdistrict settlement account 0 + 26,402 - 545,683 + 17,498 + 64,841 + 31,300 + 64,443 + 118,312 + 25,538 - 1,747 + 19,201 + 62,084 + 117,811

Total assets 8,480,942 197,895 4,202,676 195,358 383,023 597,144 556,994 576,170 135,937 81,535 131,779 433,355 989,074

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 13, 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 2,155,233 71,167 689,908 61,473 103,558 154,556 314,375 120,913 64,170 32,981 55,139 196,174 290,819

Reverse repurchase agreements6 1,657,622 27,700 936,981 35,010 60,314 111,074 97,124 90,457 21,611 12,826 22,012 73,303 169,210

Deposits 4,593,187 82,491 2,546,804 97,108 214,920 322,397 143,257 362,727 49,198 35,309 53,966 162,570 522,438

Depository institutions 4,204,510 82,470 2,350,271 97,107 214,842 321,601 143,124 173,186 49,191 35,125 52,888 162,338 522,367

U.S. Treasury, General Account 72,460 0 72,460 0 0 0 0 0 0 0 0 0 0

Foreign official 5,264 2 5,237 1 3 8 2 2 1 0 0 1 6

Other7 310,954 20 118,837 0 74 788 131 189,540 6 184 1,077 232 66

Earnings remittances due to the U.S. 

Treasury8 2,406 35 1,428 46 74 132 146 128 28 14 28 109 236

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 6,235 -1,837 4,388 221 262 782 628 403 188 177 213 290 519

Total liabilities 8,441,079 196,129 4,189,334 193,859 379,128 588,941 555,530 574,629 135,195 81,308 131,358 432,447 983,224

Capital

Capital paid in 33,078 1,458 11,062 1,256 3,309 6,790 1,158 1,275 613 170 348 786 4,851

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 8,480,942 197,895 4,202,676 195,358 383,023 597,144 556,994 576,170 135,937 81,535 131,779 433,355 989,074

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 13, 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 13, 2021

Federal Reserve notes outstanding 2,402,146

Less: Notes held by F.R. Banks not subject to collateralization 246,913

Federal Reserve notes to be collateralized 2,155,233

Collateral held against Federal Reserve notes 2,155,233

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,138,996

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,963,030

Less: Face value of securities under reverse repurchase agreements 1,601,261

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,361,769

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.