FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 29, 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

Jul 28, 2021 Jul 21, 2021 Jul 29, 2020

Wednesday

Jul 28, 2021

Reserve Bank credit 8,199,469 + 25,238 +1,282,927 8,181,858

Securities held outright1 7,665,645 + 25,662 +1,432,255 7,650,866

U.S. Treasury securities 5,256,969 + 19,955 + 980,893 5,263,740

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,526,915 + 17,490 + 882,910 4,531,831

Notes and bonds, inflation-indexed2 347,515 + 1,599 + 77,001 348,943

Inflation compensation3 56,495 + 867 + 20,982 56,922

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

Mortgage-backed securities4 2,406,329 + 5,707 + 451,362 2,384,779

Unamortized premiums on securities held outright5 353,239 - 60 + 32,579 352,549

Unamortized discounts on securities held outright5 -14,616 - 78 - 9,556 -14,649

Repurchase agreements6 0 0 0 0

Foreign official 0 0 0 0

Others 0 0 0 0

Loans 86,269 - 1,187 - 5,803 85,487

Primary credit 414 - 64 - 3,733 472

Secondary credit 0 0 0 0

Seasonal credit 16 0 - 18 16

Primary Dealer Credit Facility 0 0 - 1,830 0

Money Market Mutual Fund Liquidity Facility 0 0 - 15,900 0

Paycheck Protection Program Liquidity Facility 85,839 - 1,124 + 15,724 85,000

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 0 0 - 9,789 0

Net portfolio holdings of Corporate Credit Facilities LLC7 22,649 + 7 - 21,521 22,654

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,440 + 7 - 7,088 30,445

Net portfolio holdings of Municipal Liquidity Facility LLC7 9,760 + 2 - 6,325 9,761

Net portfolio holdings of TALF II LLC7 4,690 0 - 4,749 4,690

Float -203 - 93 + 68 -814

Central bank liquidity swaps8 476 + 1 - 117,565 476

Other Federal Reserve assets9 41,120 + 978 + 421 40,393

Foreign currency denominated assets10 21,198 - 36 - 300 21,236

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,768 + 14 + 478 50,768

Total factors supplying reserve funds 8,287,675 + 25,216 +1,283,104 8,270,103

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

Jul 28, 2021 Jul 21, 2021 Jul 29, 2020

Wednesday

Jul 28, 2021

Currency in circulation11 2,185,198 - 144 + 197,008 2,186,355

Reverse repurchase agreements12 1,155,763 + 69,570 + 939,483 1,220,133

Foreign official and international accounts 253,798 - 433 + 37,518 254,944

Others 901,966 + 70,004 + 901,966 965,189

Treasury cash holdings 50 + 3 + 3 48

Deposits with F.R. Banks, other than reserve balances 873,023 - 53,191 -1,149,640 774,254

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 578,204 - 99,899 -1,238,483 536,966

Foreign official 6,124 + 320 - 10,100 6,194

Other13 288,696 + 46,389 + 98,944 231,094

Treasury contributions to credit facilities14 40,278 0 - 73,722 40,278

Other liabilities and capital15 48,991 - 2,454 + 873 47,973

Total factors, other than reserve balances,

absorbing reserve funds 4,303,304 + 13,784 - 85,994 4,269,042

Reserve balances with Federal Reserve Banks 3,984,371 + 11,431 +1,369,099 4,001,061

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 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.

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

Jul 28, 2021 Jul 21, 2021 Jul 29, 2020

Wednesday

Jul 28, 2021

Securities held in custody for foreign official and international

accounts 3,514,404 - 12,070 + 107,011 3,511,494

Marketable U.S. Treasury securities1 3,079,131 - 3,377 + 118,448 3,077,833

Federal agency debt and mortgage-backed securities2 345,352 - 8,636 - 16,002 343,748

Other securities3 89,920 - 58 + 4,564 89,913

Securities lent to dealers 26,767 - 4,503 + 2,012 26,429

Overnight facility4 26,767 - 4,503 + 2,012 26,429

U.S. Treasury securities 26,767 - 4,503 + 2,012 26,429

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, July 28, 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 235 252 11,774 73,225 0 ... 85,487

U.S. Treasury securities2

Holdings 78,906 282,952 676,407 2,034,725 962,161 1,228,589 5,263,740

Weekly changes + 1,904 - 2,296 + 450 + 14,357 + 2,747 + 3,591 + 20,753

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 14 1,782 63,522 2,319,461 2,384,779

Weekly changes 0 0 - 2 - 93 - 1,326 - 35,976 - 37,398

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5 0 0 0 16,158 ... ... 16,158

Municipal notes held by Municipal

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

Loans held by TALF II LLC7 0 0 0 1,479 ... ... 1,479

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

Central bank liquidity swaps9 201 275 0 0 0 0 476

Reverse repurchase agreements8 1,220,133 0 ... ... ... ... 1,220,133

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, Paycheck Protection

Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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 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 Jul 28, 2021

Mortgage-backed securities held outright1 2,384,779

Residential mortgage-backed securities 2,375,067

Commercial mortgage-backed securities 9,713

Commitments to buy mortgage-backed securities2 126,522

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 80

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 Jul 28, 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 10,333 5,153 17,501 22,654

MS Facilities LLC (Main Street Lending Program) 16,097 13,500 16,945 30,445

Municipal Liquidity Facility LLC 4,373 4,373 5,388 9,761

TALF II LLC 1,660 1,479 3,212 4,690

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. Asset balances from trading activity are

 reported on a one-day lag after the transaction date.

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 March 31, 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 credit facilities

from the following consolidated LLCs: 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

Jul 28, 2021 Jul 21, 2021 Jul 29, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,251 + 3 - 271

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 8,074,253 - 19,123 +1,438,737

Securities held outright1 7,650,866 - 16,644 +1,421,575

U.S. Treasury securities 5,263,740 + 20,753 + 970,177

Bills2 326,044 0 0

Notes and bonds, nominal2 4,531,831 + 17,804 + 870,339

Notes and bonds, inflation-indexed2 348,943 + 1,999 + 78,429

Inflation compensation3 56,922 + 950 + 21,409

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,384,779 - 37,398 + 451,399

Unamortized premiums on securities held outright5 352,549 - 1,090 + 31,843

Unamortized discounts on securities held outright5 -14,649 - 28 - 9,645

Repurchase agreements6 0 0 0

Loans7 85,487 - 1,361 - 5,036

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 0 0 - 8,900

Net portfolio holdings of Corporate Credit Facilities LLC8 22,654 + 6 - 21,556

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,445 + 6 - 7,143

Net portfolio holdings of Municipal Liquidity Facility LLC8 9,761 + 1 - 6,325

Net portfolio holdings of TALF II LLC8 4,690 0 - 4,749

Items in process of collection (0) 78 + 25 + 21

Bank premises 1,766 - 101 - 434

Central bank liquidity swaps9 476 + 1 - 116,997

Foreign currency denominated assets10 21,236 + 23 - 405

Other assets11 38,626 + 103 + 463

Total assets (0) 8,221,473 - 19,057 +1,272,441

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

Jul 28, 2021 Jul 21, 2021 Jul 29, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,136,883 + 1,126 + 192,904

Reverse repurchase agreements12 1,220,133 + 83,255 +1,003,080

Deposits (0) 4,775,315 - 101,901 + 149,236

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 4,001,061 + 26,514 +1,315,685

U.S. Treasury, General Account 536,966 - 79,328 -1,255,468

Foreign official 6,194 + 357 - 10,030

Other13 (0) 231,094 - 49,445 + 99,049

Deferred availability cash items (0) 891 + 729 - 98

Treasury contributions to credit facilities14 40,278 0 - 73,722

Other liabilities and accrued dividends15 8,374 - 2,259 + 233

Total liabilities (0) 8,181,875 - 19,049 +1,271,634

Capital accounts

Capital paid in 32,814 - 6 + 848

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,599 - 6 + 808

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 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.

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, July 28, 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 1,251 20 25 115 56 181 118 230 15 31 88 146 227

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 8,074,253 133,613 4,526,571 172,240 306,513 536,665 468,880 436,841 105,037 88,740 107,995 354,331 836,827

Net portfolio holdings of Corporate

Credit Facilities LLC2 22,654 0 22,654 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,445 30,445 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 9,761 0 9,761 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,690 0 4,690 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 476 22 160 17 41 99 22 19 9 4 5 9 70

Foreign currency denominated

assets4 21,236 964 7,138 762 1,836 4,419 960 832 404 181 230 383 3,127

Other assets5 40,470 770 21,443 956 1,539 2,988 2,508 2,240 666 483 856 1,893 4,128

Interdistrict settlement account 0 + 27,309 - 353,854 + 13,997 + 1,299 + 6,894 + 48,065 + 99,056 + 13,772 - 10,104 + 13,774 + 43,612 + 96,181

Total assets 8,221,473 193,674 4,244,010 188,610 312,036 552,432 522,741 540,354 120,378 79,608 123,402 401,594 942,635

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, July 28, 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 2,136,883 66,052 694,104 63,597 103,863 155,516 304,479 126,937 57,844 32,474 53,238 195,359 283,419

Reverse repurchase agreements6 1,220,133 20,389 689,688 25,770 44,396 81,759 71,490 66,583 15,907 9,441 16,202 53,956 124,551

Deposits 4,775,315 90,855 2,818,008 97,439 159,866 305,991 144,274 344,652 45,655 36,441 53,262 150,971 527,901

Depository institutions 4,001,061 90,731 2,225,628 97,438 159,821 305,263 144,141 165,317 45,648 36,143 52,430 150,625 527,874

U.S. Treasury, General Account 536,966 0 536,966 0 0 0 0 0 0 0 0 0 0

Foreign official 6,194 2 6,168 1 3 8 2 2 1 0 0 1 6

Other7 231,094 122 49,246 0 42 719 131 179,333 6 297 831 345 20

Earnings remittances due to the U.S.

Treasury8 1,636 10 966 28 63 127 83 95 11 4 22 67 159

Treasury contributions to credit facilities9 40,278 16,572 23,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 7,629 -1,971 4,271 275 340 871 621 547 218 1,024 243 408 781

Total liabilities 8,181,875 191,909 4,230,743 187,110 308,529 544,263 520,948 538,813 119,636 79,383 122,967 400,762 936,812

Capital

Capital paid in 32,814 1,457 10,987 1,256 2,921 6,756 1,486 1,275 613 167 362 710 4,824

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 8,221,473 193,674 4,244,010 188,610 312,036 552,432 522,741 540,354 120,378 79,608 123,402 401,594 942,635

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, July 28, 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, 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 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.

 

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 Jul 28, 2021

Federal Reserve notes outstanding 2,348,057

Less: Notes held by F.R. Banks not subject to collateralization 211,174

Federal Reserve notes to be collateralized 2,136,883

Collateral held against Federal Reserve notes 2,136,883

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,120,646

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,650,866

Less: Face value of securities under reverse repurchase agreements 1,144,557

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,506,309

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.