FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EDT

February 25, 2021

In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street

Lending Program) reflects the quarterly update to the allowance for loan losses. The allowance

for loan losses was estimated based upon the Main Street Lending Program holdings as of

December 31, 2020 and does not indicate actual losses experienced by the program.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks February 25, 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

Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Wednesday

Feb 24, 2021

Reserve Bank credit 7,551,414 + 39,000 +3,431,923 7,550,111

Securities held outright1 7,028,677 + 47,838 +3,182,111 7,027,599

U.S. Treasury securities 4,835,147 + 23,003 +2,369,934 4,844,574

Bills2 326,044 0 + 49,789 326,044

Notes and bonds, nominal2 4,143,654 + 21,299 +2,111,146 4,150,779

Notes and bonds, inflation-indexed2 321,966 + 1,544 + 190,914 324,023

Inflation compensation3 43,483 + 161 + 18,085 43,728

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

Mortgage-backed securities4 2,191,183 + 24,835 + 812,176 2,180,678

Unamortized premiums on securities held outright5 350,809 + 1,451 + 227,301 350,667

Unamortized discounts on securities held outright5 -6,747 - 215 + 6,745 -6,772

Repurchase agreements6 500 - 214 - 143,343 500

Foreign official 500 - 214 + 500 500

Others 0 0 - 143,843 0

Loans 55,409 + 2,378 + 55,407 56,321

Primary credit 2,031 + 264 + 2,029 2,092

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Primary Dealer Credit Facility 265 0 + 265 265

Money Market Mutual Fund Liquidity Facility 1,715 - 14 + 1,715 1,630

Paycheck Protection Program Liquidity Facility 51,397 + 2,127 + 51,397 52,334

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,556 - 1 + 8,556 8,556

Net portfolio holdings of Corporate Credit Facilities LLC7 26,233 - 36 + 26,233 26,194

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 32,935 - 335 + 32,935 30,958

Net portfolio holdings of Municipal Liquidity Facility LLC7 11,539 + 3 + 11,539 11,541

Net portfolio holdings of TALF II LLC7 6,406 + 1 + 6,406 6,406

Float -18 + 52 + 165 449

Central bank liquidity swaps8 6,765 - 1,400 + 6,720 6,765

Other Federal Reserve assets9 30,350 - 10,522 + 11,148 30,927

Foreign currency denominated assets10 21,969 - 8 + 1,793 21,947

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,553 + 14 + 417 50,553

Total factors supplying reserve funds 7,640,177 + 39,006 +3,434,132 7,638,852

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

Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Wednesday

Feb 24, 2021

Currency in circulation11 2,102,167 + 93 + 303,271 2,102,634

Reverse repurchase agreements12 203,513 - 1,550 - 18,234 205,373

Foreign official and international accounts 203,293 - 1,747 - 15,568 205,372

Others 220 + 196 - 2,666 1

Treasury cash holdings 79 + 7 - 193 84

Deposits with F.R. Banks, other than reserve balances 1,863,212 + 53,186 +1,349,047 1,849,096

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,529,977 - 37,064 +1,090,612 1,439,646

Foreign official 22,090 - 212 + 16,903 22,393

Other13 311,145 + 90,462 + 241,532 387,057

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

Other liabilities and capital15 50,407 - 2,843 + 5,911 45,703

Total factors, other than reserve balances,

absorbing reserve funds 4,271,157 + 48,893 +1,691,581 4,254,669

Reserve balances with Federal Reserve Banks 3,369,020 - 9,887 +1,742,551 3,384,183

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

Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Wednesday

Feb 24, 2021

Securities held in custody for foreign official and international

accounts 3,546,870 - 2,864 + 86,545 3,546,829

Marketable U.S. Treasury securities1 3,095,073 - 4,809 + 94,735 3,099,885

Federal agency debt and mortgage-backed securities2 361,796 + 1,447 - 16,161 357,064

Other securities3 90,001 + 498 + 7,972 89,881

Securities lent to dealers 30,463 + 3,648 + 1,144 28,437

Overnight facility4 30,463 + 3,648 + 1,144 28,437

U.S. Treasury securities 30,463 + 3,648 + 1,144 28,437

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, February 24, 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 2,302 1,686 0 52,326 8 ... 56,321

U.S. Treasury securities2

Holdings 96,560 335,070 630,641 1,833,210 858,715 1,090,379 4,844,574

Weekly changes - 3,876 + 8,205 - 4,321 + 11,222 + 6,968 + 2,320 + 20,517

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 6 2,109 72,009 2,106,554 2,180,678

Weekly changes 0 0 0 0 + 2 + 10,114 + 10,116

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 16,548 ... ... 16,548

Municipal notes held by Municipal

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

Loans held by TALF II LLC8 0 0 0 2,593 ... ... 2,593

Repurchase agreements9 500 0 ... ... ... ... 500

Central bank liquidity swaps10 5,828 937 0 0 0 0 6,765

Reverse repurchase agreements9 205,373 0 ... ... ... ... 205,373

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 Feb 24, 2021

Mortgage-backed securities held outright1 2,180,678

Residential mortgage-backed securities 2,170,782

Commercial mortgage-backed securities 9,896

Commitments to buy mortgage-backed securities2 165,011

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 57

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 Feb 24, 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 8,556 8,556

Corporate Credit Facilities LLC 14,018 14,058 12,136 26,194

MS Facilities LLC (Main Street Lending Program) 16,524 14,135 16,823 30,958

Municipal Liquidity Facility LLC 6,203 6,203 5,338 11,541

TALF II LLC 3,382 2,593 3,813 6,406

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

 December 31, 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

Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,551 - 11 - 219

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,428,315 + 33,832 +3,326,756

Securities held outright1 7,027,599 + 30,633 +3,179,349

U.S. Treasury securities 4,844,574 + 20,517 +2,370,514

Bills2 326,044 0 + 45,503

Notes and bonds, nominal2 4,150,779 + 16,536 +2,113,697

Notes and bonds, inflation-indexed2 324,023 + 3,601 + 192,971

Inflation compensation3 43,728 + 380 + 18,343

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,180,678 + 10,116 + 808,835

Unamortized premiums on securities held outright5 350,667 + 942 + 227,364

Unamortized discounts on securities held outright5 -6,772 - 44 + 6,675

Repurchase agreements6 500 0 - 142,940

Loans7 56,321 + 2,302 + 56,308

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,556 0 + 8,556

Net portfolio holdings of Corporate Credit Facilities LLC8 26,194 - 46 + 26,194

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,958 - 2,307 + 30,958

Net portfolio holdings of Municipal Liquidity Facility LLC8 11,541 + 3 + 11,541

Net portfolio holdings of TALF II LLC8 6,406 + 1 + 6,406

Items in process of collection (0) 636 + 567 + 589

Bank premises 1,968 - 76 - 234

Central bank liquidity swaps9 6,765 - 1,400 + 6,721

Foreign currency denominated assets10 21,947 + 100 + 1,672

Other assets11 29,039 + 2,047 + 12,536

Total assets (0) 7,590,111 + 32,709 +3,431,474

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

Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,053,711 + 372 + 301,802

Reverse repurchase agreements12 205,373 + 3,654 - 14,595

Deposits (0) 5,233,359 + 32,354 +3,091,371

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,384,262 - 23,609 +1,704,192

U.S. Treasury, General Account 1,439,646 - 129,247 +1,052,031

Foreign official 22,393 - 659 + 17,207

Other13 (0) 387,057 + 185,869 + 317,940

Deferred availability cash items (0) 186 + 5 - 452

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

Other liabilities and accrued dividends15 6,509 - 3,673 + 926

Total liabilities (0) 7,550,917 + 32,712 +3,430,831

Capital accounts

Capital paid in 32,410 - 2 + 684

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,195 - 2 + 644

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, February 24, 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 1,551 35 42 127 73 211 152 256 29 45 106 175 301

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,428,315 169,585 3,827,282 173,179 232,265 465,011 545,273 413,452 117,848 78,226 121,138 356,945 928,111

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 26,194 0 26,194 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,958 30,958 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 11,541 0 11,541 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 6,406 0 6,406 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 6,765 321 2,273 243 578 1,428 336 263 111 53 71 80 1,007

Foreign currency denominated

assets4 21,947 1,042 7,377 790 1,875 4,632 1,088 852 360 172 231 261 3,267

Other assets5 31,643 2,271 13,132 791 1,020 2,219 2,908 1,747 822 420 782 1,798 3,732

Interdistrict settlement account 0 - 50,682 + 400,057 + 14,587 + 54,029 - 8,987 - 137,180 + 827 - 18,951 - 13,541 - 19,853 - 58,946 - 161,362

Total assets 7,590,111 154,062 4,308,343 190,247 290,601 465,679 414,760 418,534 100,697 65,645 102,927 301,515 777,101

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, February 24, 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 2,053,711 61,503 672,896 55,325 95,698 155,307 283,048 132,038 59,188 33,390 54,233 178,186 272,901

Reverse repurchase agreements6 205,373 4,612 106,334 4,686 6,425 12,872 15,135 11,471 3,245 1,941 3,266 9,898 25,489

Deposits 5,233,359 69,793 3,479,477 128,502 184,712 288,433 113,999 272,832 37,278 29,609 44,716 112,201 471,806

Depository institutions 3,384,262 69,778 1,783,124 128,500 184,670 287,482 113,916 123,532 37,274 29,555 44,158 110,494 471,779

U.S. Treasury, General Account 1,439,646 0 1,439,646 0 0 0 0 0 0 0 0 0 0

Foreign official 22,393 2 22,366 1 3 8 2 2 1 0 0 0 6

Other7 387,057 13 234,341 0 39 942 81 149,299 3 53 558 1,707 21

Earnings remittances due to the U.S.

Treasury8 1,487 30 785 31 47 119 105 76 9 9 17 68 190

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 5,209 -1,726 1,981 298 332 803 698 584 235 351 266 445 944

Total liabilities 7,550,917 152,284 4,295,180 188,840 287,215 457,533 412,985 417,001 99,954 65,298 102,499 300,797 771,331

Capital

Capital paid in 32,410 1,470 10,883 1,163 2,800 6,734 1,467 1,268 614 288 355 596 4,771

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 7,590,111 154,062 4,308,343 190,247 290,601 465,679 414,760 418,534 100,697 65,645 102,927 301,515 777,101

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, February 24, 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 each Federal Reserve Bank’s allotted surplus cap.

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 Feb 24, 2021

Federal Reserve notes outstanding 2,219,385

Less: Notes held by F.R. Banks not subject to collateralization 165,674

Federal Reserve notes to be collateralized 2,053,711

Collateral held against Federal Reserve notes 2,053,711

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,037,474

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,028,099

Less: Face value of securities under reverse repurchase agreements 198,466

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,829,633

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.