FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 28, 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 27, 2021 Jan 20, 2021 Jan 29, 2020

Wednesday

Jan 27, 2021

Reserve Bank credit 7,384,854 + 12,879 +3,269,646 7,364,432

Securities held outright1 6,856,549 + 14,077 +3,063,065 6,838,223

U.S. Treasury securities 4,754,809 + 22,119 +2,357,454 4,766,107

Bills2 326,044 0 + 103,154 326,044

Notes and bonds, nominal2 4,070,251 + 20,495 +2,049,246 4,081,568

Notes and bonds, inflation-indexed2 315,619 + 1,731 + 187,614 315,619

Inflation compensation3 42,895 - 106 + 17,440 42,876

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

Mortgage-backed securities4 2,099,392 - 8,043 + 705,611 2,069,769

Unamortized premiums on securities held outright5 345,682 - 17 + 221,952 344,999

Unamortized discounts on securities held outright5 -6,149 - 135 + 7,145 -6,169

Repurchase agreements6 1,000 0 - 181,311 1,000

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

Others 0 0 - 182,311 0

Loans 51,420 - 271 + 51,414 51,098

Primary credit 2,029 + 334 + 2,023 1,989

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Primary Dealer Credit Facility 485 0 + 485 485

Money Market Mutual Fund Liquidity Facility 1,905 - 11 + 1,905 1,905

Paycheck Protection Program Liquidity Facility 47,001 - 594 + 47,001 46,718

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,557 0 + 8,557 8,558

Net portfolio holdings of Corporate Credit Facilities LLC7 26,310 0 + 26,310 26,300

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 33,292 + 10 + 33,292 33,301

Net portfolio holdings of Municipal Liquidity Facility LLC7 11,608 + 3 + 11,608 11,611

Net portfolio holdings of TALF II LLC7 6,678 + 1 + 6,678 6,678

Float -154 - 64 + 31 -545

Central bank liquidity swaps8 9,781 - 1,128 + 9,730 9,567

Other Federal Reserve assets9 40,282 + 405 + 11,178 39,813

Foreign currency denominated assets10 22,144 + 40 + 1,632 22,060

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,577 + 14 + 477 50,577

Total factors supplying reserve funds 7,473,816 + 12,933 +3,271,756 7,453,310

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 27, 2021 Jan 20, 2021 Jan 29, 2020

Wednesday

Jan 27, 2021

Currency in circulation11 2,097,171 + 2,086 + 304,995 2,097,472

Reverse repurchase agreements12 207,383 - 2,467 - 28,240 210,578

Foreign official and international accounts 206,500 - 3,006 - 27,236 209,426

Others 883 + 539 - 1,004 1,152

Treasury cash holdings 43 + 7 - 165 48

Deposits with F.R. Banks, other than reserve balances 1,904,558 + 6,290 +1,391,452 1,816,435

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,633,540 + 6,634 +1,201,479 1,613,377

Foreign official 21,957 - 111 + 16,777 21,836

Other13 249,062 - 232 + 173,198 181,223

Treasury contributions to credit facilities14 51,778 0 + 51,778 51,778

Other liabilities and capital15 49,874 - 1,367 + 5,268 48,247

Total factors, other than reserve balances,

absorbing reserve funds 4,310,808 + 4,549 +1,725,089 4,224,559

Reserve balances with Federal Reserve Banks 3,163,008 + 8,384 +1,546,666 3,228,751

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 27, 2021 Jan 20, 2021 Jan 29, 2020

Wednesday

Jan 27, 2021

Securities held in custody for foreign official and international

accounts 3,532,932 - 8,381 + 98,559 3,533,679

Marketable U.S. Treasury securities1 3,082,293 - 18,101 + 96,809 3,085,902

Federal agency debt and mortgage-backed securities2 361,977 + 9,412 - 3,230 359,146

Other securities3 88,661 + 307 + 4,980 88,632

Securities lent to dealers 30,212 + 757 + 1,514 36,524

Overnight facility4 30,212 + 757 + 1,514 36,524

U.S. Treasury securities 30,212 + 757 + 1,514 36,524

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 27, 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 1,453 2,927 0 46,718 0 ... 51,098

U.S. Treasury securities2

Holdings 88,243 307,379 648,172 1,815,819 834,222 1,072,272 4,766,107

Weekly changes - 3,042 + 5,325 - 2,288 + 12,202 + 8,072 + 2,286 + 22,555

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 4 2,000 69,988 1,997,776 2,069,769

Weekly changes 0 0 - 1 - 96 - 1,555 - 28,428 - 30,080

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 16,544 ... ... 16,544

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 845 5,358 ... ... 6,203

Loans held by TALF II LLC8 0 0 0 3,343 ... ... 3,343

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

Central bank liquidity swaps10 1,630 7,937 0 0 0 0 9,567

Reverse repurchase agreements9 210,578 0 ... ... ... ... 210,578

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 27, 2021

Mortgage-backed securities held outright1 2,069,769

Residential mortgage-backed securities 2,059,890

Commercial mortgage-backed securities 9,878

Commitments to buy mortgage-backed securities2 181,960

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 18

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 27, 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 8,558 8,558

Corporate Credit Facilities LLC 14,058 14,212 12,088 26,300

MS Facilities LLC (Main Street Lending Program) 16,585 16,448 16,853 33,301

Municipal Liquidity Facility LLC 6,283 6,203 5,408 11,611

TALF II LLC 3,656 3,343 3,335 6,678

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 27, 2021 Jan 20, 2021 Jan 29, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,578 + 4 - 189

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,229,151 - 8,894 +3,145,028

Securities held outright1 6,838,223 - 7,525 +3,039,480

U.S. Treasury securities 4,766,107 + 22,555 +2,356,999

Bills2 326,044 0 + 93,510

Notes and bonds, nominal2 4,081,568 + 20,137 +2,058,447

Notes and bonds, inflation-indexed2 315,619 + 2,401 + 187,614

Inflation compensation3 42,876 + 17 + 17,428

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,069,769 - 30,080 + 682,481

Unamortized premiums on securities held outright5 344,999 - 505 + 221,472

Unamortized discounts on securities held outright5 -6,169 - 114 + 7,137

Repurchase agreements6 1,000 0 - 174,125

Loans7 51,098 - 750 + 51,064

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,558 + 1 + 8,558

Net portfolio holdings of Corporate Credit Facilities LLC8 26,300 - 11 + 26,300

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 33,301 + 11 + 33,301

Net portfolio holdings of Municipal Liquidity Facility LLC8 11,611 + 3 + 11,611

Net portfolio holdings of TALF II LLC8 6,678 0 + 6,678

Items in process of collection (0) 74 - 28 + 20

Bank premises 2,213 + 3 + 3

Central bank liquidity swaps9 9,567 - 1,342 + 9,516

Foreign currency denominated assets10 22,060 - 58 + 1,561

Other assets11 37,599 + 296 + 10,910

Total assets (0) 7,404,926 - 10,016 +3,253,296

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 27, 2021 Jan 20, 2021 Jan 29, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,048,517 - 133 + 303,920

Reverse repurchase agreements12 210,578 + 3,946 - 22,826

Deposits (0) 5,045,187 - 14,294 +2,916,423

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,228,751 + 78,944 +1,616,528

U.S. Treasury, General Account 1,613,377 - 24,954 +1,162,840

Foreign official 21,836 - 1,631 + 16,655

Other13 (0) 181,223 - 66,652 + 120,400

Deferred availability cash items (0) 619 + 431 - 110

Treasury contributions to credit facilities14 51,778 0 + 51,778

Other liabilities and accrued dividends15 9,042 + 35 + 3,429

Total liabilities (0) 7,365,721 - 10,016 +3,252,613

Capital accounts

Capital paid in 32,380 0 + 683

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,205 0 + 683

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 27, 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 1,578 33 41 135 75 210 156 263 32 43 106 191 295

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,229,151 164,206 3,725,481 169,082 225,975 452,798 530,737 402,568 114,668 75,596 118,336 347,677 902,029

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,558 0 8,558 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 26,300 0 26,300 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 33,301 33,301 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 11,611 0 11,611 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 6,678 0 6,678 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 9,567 454 3,215 344 818 2,019 474 372 157 75 101 114 1,424

Foreign currency denominated

assets4 22,060 1,047 7,415 794 1,885 4,656 1,094 857 362 173 233 262 3,284

Other assets5 39,887 2,474 17,828 992 1,313 2,783 3,014 2,254 766 510 948 2,164 4,841

Interdistrict settlement account 0 - 41,205 + 295,969 + 9,892 + 61,224 + 46,136 - 126,949 + 4,382 - 17,021 - 8,860 - 19,054 - 36,430 - 168,085

Total assets 7,404,926 160,843 4,108,578 181,767 292,050 509,766 410,709 411,832 99,442 67,807 101,120 315,179 745,834

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 27, 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 2,048,517 61,749 674,079 55,722 93,507 154,929 281,967 132,619 59,162 33,363 55,043 175,713 270,664

Reverse repurchase agreements6 210,578 4,729 109,028 4,804 6,588 13,198 15,519 11,762 3,327 1,990 3,349 10,149 26,135

Deposits 5,045,187 73,942 3,275,242 119,525 188,215 332,580 110,675 265,282 35,998 31,360 42,024 128,136 442,207

Depository institutions 3,228,751 73,922 1,586,839 119,524 188,174 332,097 110,591 139,058 35,996 31,296 41,869 127,203 442,181

U.S. Treasury, General Account 1,613,377 0 1,613,377 0 0 0 0 0 0 0 0 0 0

Foreign official 21,836 2 21,809 1 3 8 2 2 1 0 0 0 6

Other7 181,223 19 53,217 0 37 474 82 126,223 1 63 154 932 20

Earnings remittances due to the U.S.

Treasury8 64 -3 149 0 -2 68 13 13 -33 -147 -19 1 24

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 9,597 573 3,200 308 352 832 760 620 241 907 300 475 1,028

Total liabilities 7,365,721 159,063 4,095,404 180,359 288,660 501,607 408,934 410,296 98,696 67,473 100,695 314,473 740,059

Capital

Capital paid in 32,380 1,470 10,880 1,163 2,800 6,739 1,467 1,269 616 275 350 584 4,769

Surplus 6,825 310 2,294 245 590 1,420 309 267 130 58 74 123 1,005

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

Total liabilities and capital 7,404,926 160,843 4,108,578 181,767 292,050 509,766 410,709 411,832 99,442 67,807 101,120 315,179 745,834

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 27, 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 27, 2021

Federal Reserve notes outstanding 2,205,950

Less: Notes held by F.R. Banks not subject to collateralization 157,433

Federal Reserve notes to be collateralized 2,048,517

Collateral held against Federal Reserve notes 2,048,517

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,032,280

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,839,223

Less: Face value of securities under reverse repurchase agreements 199,981

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,639,242

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.