FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern time

January 14, 2021

The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the

Federal Reserve’s return of a portion of Treasury’s equity investment in the MS Facilities LLC

(Main Street Lending Program), which occurred on January 8, 2021. Footnote 14 in Factors

Affecting Reserve Balances of Depository Institutions (table 1) and Consolidated Statement of

Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of Condition of

Each Federal Reserve Bank (table 6) were revised accordingly.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 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

Jan 13, 2021 Jan 6, 2021 Jan 15, 2020

Wednesday

Jan 13, 2021

Reserve Bank credit 7,281,407 - 25,469 +3,148,640 7,293,832

Securities held outright1 6,751,066 + 17,575 +2,981,146 6,765,622

U.S. Treasury securities 4,709,188 + 17,512 +2,350,094 4,723,733

Bills2 326,044 0 + 132,730 326,044

Notes and bonds, nominal2 4,023,275 + 15,602 +2,011,730 4,035,981

Notes and bonds, inflation-indexed2 316,194 + 1,887 + 187,577 317,909

Inflation compensation3 43,675 + 23 + 18,057 43,800

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

Mortgage-backed securities4 2,039,532 + 64 + 631,053 2,039,542

Unamortized premiums on securities held outright5 343,367 + 468 + 218,906 343,632

Unamortized discounts on securities held outright5 -5,551 - 21 + 7,722 -5,570

Repurchase agreements6 1,000 0 - 222,850 1,000

Foreign official 1,000 0 + 1,000 1,000

Others 0 0 - 223,850 0

Loans 52,736 - 2,730 + 52,731 52,152

Primary credit 1,461 - 116 + 1,457 1,514

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 1 0

Primary Dealer Credit Facility 485 0 + 485 485

Money Market Mutual Fund Liquidity Facility 2,129 - 1,135 + 2,129 1,918

Paycheck Protection Program Liquidity Facility 48,661 - 1,479 + 48,661 48,235

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,557 0 + 8,557 8,557

Net portfolio holdings of Corporate Credit Facilities LLC7 26,306 - 11,605 + 26,306 26,310

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 36,263 - 17,856 + 36,263 33,282

Net portfolio holdings of Municipal Liquidity Facility LLC7 11,602 - 5,562 + 11,602 11,605

Net portfolio holdings of TALF II LLC7 6,676 - 3,142 + 6,676 6,677

Float -89 + 283 + 15 -94

Central bank liquidity swaps8 11,150 - 6,594 + 11,091 11,150

Other Federal Reserve assets9 38,323 + 3,715 + 10,474 39,508

Foreign currency denominated assets10 22,200 - 115 + 1,610 22,141

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,549 + 14 + 463 50,549

Total factors supplying reserve funds 7,370,397 - 25,569 +3,150,713 7,382,762

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

Jan 13, 2021 Jan 6, 2021 Jan 15, 2020

Wednesday

Jan 13, 2021

Currency in circulation11 2,091,763 + 1,271 + 294,547 2,092,333

Reverse repurchase agreements12 202,866 - 9,913 - 63,581 214,173

Foreign official and international accounts 202,866 - 4,397 - 62,922 214,173

Others 0 - 5,516 - 659 0

Treasury cash holdings 32 + 4 - 145 35

Deposits with F.R. Banks, other than reserve balances 1,785,910 - 86,408 +1,361,896 1,773,616

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,589,421 - 79,906 +1,238,434 1,575,875

Foreign official 21,848 + 9 + 16,666 21,842

Other13 174,641 - 6,511 + 106,795 175,900

Treasury contributions to credit facilities14 54,768 - 47,434 + 54,768 51,778

Other liabilities and capital15 51,140 + 1,276 + 6,112 49,957

Total factors, other than reserve balances,

absorbing reserve funds 4,186,480 - 141,202 +1,653,598 4,181,893

Reserve balances with Federal Reserve Banks 3,183,917 + 115,633 +1,497,116 3,200,869

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. Also includes net portfolio holdings of Maiden Lane LLC. 

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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, and credit protection in the Money

Market Mutual Fund Liquidity Facility of $1.5 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

Jan 13, 2021 Jan 6, 2021 Jan 15, 2020

Wednesday

Jan 13, 2021

Securities held in custody for foreign official and international

accounts 3,516,891 + 27,772 + 97,148 3,527,814

Marketable U.S. Treasury securities1 3,075,496 + 27,565 + 97,041 3,086,358

Federal agency debt and mortgage-backed securities2 354,554 - 54 - 4,114 354,541

Other securities3 86,842 + 263 + 4,222 86,915

Securities lent to dealers 31,001 - 304 - 628 30,675

Overnight facility4 31,001 - 304 - 628 30,675

U.S. Treasury securities 31,001 - 304 - 628 30,675

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, January 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 969 2,948 0 48,235 0 ... 52,152

U.S. Treasury securities2

Holdings 71,125 316,376 649,581 1,781,651 843,174 1,061,826 4,723,733

Weekly changes + 5,543 - 4,255 + 1,608 + 13,124 + 6,298 + 1,994 + 24,312

Federal agency debt securities3

Holdings 0 0 0 0 1,818 529 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 5 2,096 72,116 1,965,324 2,039,542

Weekly changes 0 0 0 0 + 19 + 53 + 73

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 0 0 ... ... ... 0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 16,600 ... ... 16,600

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 925 5,358 ... ... 6,283

Loans held by TALF II LLC8 0 0 0 3,438 ... ... 3,438

Repurchase agreements9 1,000 0 ... ... ... ... 1,000

Central bank liquidity swaps10 2,575 8,576 0 0 0 0 11,150

Reverse repurchase agreements9 214,173 0 ... ... ... ... 214,173

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 Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve

Bank of New York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, 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 commercial paper held by Commercial Paper Funding Facility II LLC.

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

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

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

9. Cash value of agreements.

10. 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 Jan 13, 2021

Mortgage-backed securities held outright1 2,039,542

Residential mortgage-backed securities 2,029,629

Commercial mortgage-backed securities 9,913

Commitments to buy mortgage-backed securities2 241,639

Commitments to sell mortgage-backed securities2 82

Cash and cash equivalents3 1

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 Jan 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

Commercial Paper Funding Facility II LLC 0 0 8,557 8,557

Corporate Credit Facilities LLC 14,058 14,254 12,056 26,310

MS Facilities LLC (Main Street Lending Program) 16,586 16,504 16,779 33,282

Municipal Liquidity Facility LLC 6,283 6,283 5,322 11,605

TALF II LLC 3,656 3,438 3,239 6,677

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 Commercial Paper Funding Facility II LLC includes commercial paper at book value.

b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances

 from trading activity are reported on a one-day lag after the transaction date.

c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations, net of an allowance for loan losses updated as of

 September 30, 2020, at face value.

d. 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.

e. 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 credit facilities

from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, 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

Jan 13, 2021 Jan 6, 2021 Jan 15, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,572 + 9 - 141

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,156,836 + 22,935 +3,046,870

Securities held outright1 6,765,622 + 24,385 +2,996,322

U.S. Treasury securities 4,723,733 + 24,312 +2,361,098

Bills2 326,044 0 + 131,015

Notes and bonds, nominal2 4,035,981 + 20,536 +2,021,865

Notes and bonds, inflation-indexed2 317,909 + 3,602 + 189,904

Inflation compensation3 43,800 + 175 + 18,315

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,039,542 + 73 + 635,224

Unamortized premiums on securities held outright5 343,632 + 639 + 219,222

Unamortized discounts on securities held outright5 -5,570 - 26 + 7,651

Repurchase agreements6 1,000 0 - 228,468

Loans7 52,152 - 2,064 + 52,143

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,557 0 + 8,557

Net portfolio holdings of Corporate Credit Facilities LLC8 26,310 - 61 + 26,310

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 33,282 - 20,873 + 33,282

Net portfolio holdings of Municipal Liquidity Facility LLC8 11,605 - 75 + 11,605

Net portfolio holdings of TALF II LLC8 6,677 + 1 + 6,677

Items in process of collection (0) 93 + 28 + 2

Bank premises 2,210 + 3 + 11

Central bank liquidity swaps9 11,150 - 5,761 + 11,091

Foreign currency denominated assets10 22,141 - 199 + 1,534

Other assets11 37,297 + 3,154 + 12,319

Total assets (0) 7,333,968 - 841 +3,158,118

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

Jan 13, 2021 Jan 6, 2021 Jan 15, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,043,387 - 55 + 295,899

Reverse repurchase agreements12 214,173 + 7,838 - 46,740

Deposits (0) 4,974,486 + 13,240 +2,851,429

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,200,869 + 37,090 +1,527,507

U.S. Treasury, General Account 1,575,875 - 31,521 +1,195,073

Foreign official 21,842 + 3 + 16,661

Other13 (0) 175,900 + 7,668 + 112,188

Deferred availability cash items (0) 187 + 10 + 35

Treasury contributions to credit facilities14 51,778 - 20,928 + 51,778

Other liabilities and accrued dividends15 10,752 - 947 + 5,034

Total liabilities (0) 7,294,763 - 841 +3,157,436

Capital accounts

Capital paid in 32,380 0 + 682

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,205 0 + 682

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. Also includes net portfolio

holdings of Maiden Lane LLC.

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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, and credit protection in the Money

Market Mutual Fund Liquidity Facility of $1.5 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, January 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 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045

Coin 1,572 31 41 132 82 208 157 258 33 44 106 186 293

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,156,836 162,626 3,687,697 167,606 223,714 448,276 525,552 398,326 113,568 75,030 117,267 344,203 892,969

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,557 0 8,557 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 26,310 0 26,310 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 33,282 33,282 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 11,605 0 11,605 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 6,677 0 6,677 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 11,150 529 3,747 401 953 2,353 553 433 183 87 118 132 1,660

Foreign currency denominated

assets4 22,141 1,051 7,443 797 1,892 4,673 1,098 860 363 173 233 263 3,296

Other assets5 39,601 2,468 17,703 981 1,301 2,777 3,013 2,237 762 526 930 2,078 4,825

Interdistrict settlement account 0 - 44,413 + 163,522 - 317 + 93,872 + 123,214 - 121,854 - 5,302 - 15,364 - 4,191 - 14,170 - 29,009 - 145,989

Total assets 7,333,968 156,108 3,938,786 170,130 322,574 582,666 410,702 397,949 100,025 71,940 104,933 319,056 759,099

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, January 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 2,043,387 61,791 675,152 56,129 93,426 153,482 280,370 132,508 59,200 33,456 55,023 173,989 268,862

Reverse repurchase agreements6 214,173 4,810 110,890 4,886 6,701 13,423 15,784 11,963 3,384 2,024 3,406 10,322 26,581

Deposits 4,974,486 69,061 3,101,463 107,379 218,667 406,652 111,845 251,237 36,452 35,783 45,802 133,514 456,631

Depository institutions 3,200,869 69,045 1,445,632 107,377 218,631 405,545 111,762 137,263 36,451 35,719 45,287 131,553 456,604

U.S. Treasury, General Account 1,575,875 0 1,575,875 0 0 0 0 0 0 0 0 0 0

Foreign official 21,842 2 21,815 1 3 8 2 2 1 0 0 0 6

Other7 175,900 14 58,140 0 32 1,099 81 113,973 1 63 515 1,960 21

Earnings remittances due to the U.S.

Treasury8 2,032 44 1,107 41 49 96 156 114 29 16 27 105 247

Treasury contributions to credit facilities9 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 8,907 537 3,294 287 349 834 742 594 231 332 252 463 992

Total liabilities 7,294,763 154,314 3,925,612 168,722 319,192 574,487 408,896 396,415 99,297 71,611 104,511 318,392 753,314

Capital

Capital paid in 32,380 1,470 10,880 1,163 2,800 6,739 1,467 1,269 616 275 350 583 4,769

Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016

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

Total liabilities and capital 7,333,968 156,108 3,938,786 170,130 322,574 582,666 410,702 397,949 100,025 71,940 104,933 319,056 759,099

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, January 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 Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, 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. Also includes Net portfolio

holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

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 a $6.825 billion surplus.

9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and

Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 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 Jan 13, 2021

Federal Reserve notes outstanding 2,197,697

Less: Notes held by F.R. Banks not subject to collateralization 154,309

Federal Reserve notes to be collateralized 2,043,387

Collateral held against Federal Reserve notes 2,043,387

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,027,151

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,766,622

Less: Face value of securities under reverse repurchase agreements 208,085

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,558,537

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.