FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks July 28, 2022

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 27, 2022 Jul 20, 2022 Jul 28, 2021

Wednesday

Jul 27, 2022

Reserve Bank credit 8,865,999 - 4,098 + 666,530 8,854,182

Securities held outright1 8,464,333 - 3,425 + 798,688 8,453,907

U.S. Treasury securities 5,733,757 - 798 + 476,788 5,734,180

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,940,459 - 214 + 413,544 4,940,459

Notes and bonds, inflation-indexed2 374,719 - 1,375 + 27,204 374,719

Inflation compensation3 92,535 + 791 + 36,040 92,959

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

Mortgage-backed securities4 2,728,229 - 2,627 + 321,900 2,717,379

Unamortized premiums on securities held outright5 331,179 - 1,017 - 22,060 330,669

Unamortized discounts on securities held outright5 -25,891 - 144 - 11,275 -25,851

Repurchase agreements6 0 0 0 1

Foreign official 0 0 0 0

Others 0 0 0 1

Loans 19,700 + 125 - 66,569 20,178

Primary credit 3,065 + 476 + 2,651 3,710

Secondary credit 0 0 0 0

Seasonal credit 11 0 - 5 12

Primary Dealer Credit Facility 0 0 0 0

Paycheck Protection Program Liquidity Facility 16,623 - 352 - 69,216 16,456

Other credit extensions 0 0 0 0

Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 22,649 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 26,040 - 44 - 4,400 26,053

Net portfolio holdings of Municipal Liquidity Facility LLC7 5,546 + 2 - 4,214 5,547

Net portfolio holdings of TALF II LLC7 2,181 + 1 - 2,509 2,182

Float -186 - 51 + 17 -575

Central bank liquidity swaps8 206 + 11 - 270 206

Other Federal Reserve assets9 42,891 + 443 + 1,771 41,865

Foreign currency denominated assets10 17,792 + 146 - 3,406 17,676

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 51,233 + 14 + 609 51,233

Total factors supplying reserve funds 8,951,265 - 3,939 + 663,733 8,939,332

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 27, 2022 Jul 20, 2022 Jul 28, 2021

Wednesday

Jul 27, 2022

Currency in circulation11 2,274,483 - 2,345 + 89,428 2,274,830

Reverse repurchase agreements12 2,506,890 + 22,425 +1,351,127 2,484,253

Foreign official and international accounts 288,394 - 8,818 + 34,596 295,259

Others 2,218,495 + 31,242 +1,316,529 2,188,994

Treasury cash holdings 99 0 + 49 104

Deposits with F.R. Banks, other than reserve balances 844,756 + 2,806 - 28,267 837,686

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 602,945 - 10,933 + 24,741 615,515

Foreign official 9,166 - 989 + 3,042 9,601

Other13 232,644 + 14,726 - 56,052 212,570

Treasury contributions to credit facilities14 17,940 0 - 22,338 17,940

Other liabilities and capital15 50,222 + 626 + 1,231 48,910

Total factors, other than reserve balances, 

absorbing reserve funds 5,694,390 + 23,511 +1,391,229 5,663,723

Reserve balances with Federal Reserve Banks 3,256,875 - 27,449 - 727,496 3,275,609

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of 

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been 

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest 

basis.

6. Cash value of agreements.

7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned 

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the 

foreign central bank.

9. Includes bank premises, accrued interest, and other accounts receivable.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of 

$1.2 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 27, 2022 Jul 20, 2022 Jul 28, 2021

Wednesday

Jul 27, 2022

Securities held in custody for foreign official and international 

accounts 3,358,849 + 6,391 - 155,555 3,359,207

Marketable U.S. Treasury securities1 2,958,159 + 4,095 - 120,972 2,962,624

Federal agency debt and mortgage-backed securities2 317,492 + 1,826 - 27,860 313,419

Other securities3 83,199 + 471 - 6,721 83,164

Securities lent to dealers 35,679 - 1,289 + 8,912 37,434

Overnight facility4 35,679 - 1,289 + 8,912 37,434

U.S. Treasury securities 35,679 - 1,289 + 8,912 37,434

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 27, 2022

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 2,136 1,599 0 16,443 0 ... 20,178

U.S. Treasury securities2

Holdings 87,825 321,128 816,043 2,054,223 1,019,483 1,435,479 5,734,180

Weekly changes + 1,969 - 1,747 - 169 + 449 + 354 + 298 + 1,153

Federal agency debt securities3

Holdings 0 0 0 0 2,347 0 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 1 47 1,992 58,223 2,657,116 2,717,379

Weekly changes 0 - 1 - 8 - 74 - 913 - 7,887 - 8,882

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 13,643 ... ... 13,643

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907

Loans held by TALF II LLC7 0 0 64 1,026 ... ... 1,090

Repurchase agreements8 1 0 ... ... ... ... 1

Central bank liquidity swaps9 206 0 0 0 0 0 206

Reverse repurchase agreements8 2,484,253 0 ... ... ... ... 2,484,253

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF) 

and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as 

performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Loans exclude the loans from the 

Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston 

(FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with 

consolidation under generally accepted accounting principles.

2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original 

face value of such securities.

3. Face value.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

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

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

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

8. Cash value of agreements.

9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to 

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign 

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Jul 27, 2022

Mortgage-backed securities held outright1 2,717,379

Residential mortgage-backed securities 2,708,655

Commercial mortgage-backed securities 8,724

Commitments to buy mortgage-backed securities2 20,097

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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 27, 2022

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

MS Facilities LLC (Main Street Lending Program) 13,204 11,774 14,278 26,053

Municipal Liquidity Facility LLC 2,907 2,907 2,640 5,547

TALF II LLC 1,152 1,090 1,092 2,182

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 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, 2022.

b. 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.

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury 

contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash 

and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are 

excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal 

Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

Jul 27, 2022 Jul 20, 2022 Jul 28, 2021

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,276 + 10 + 25

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,778,904 - 8,636 + 704,651

Securities held outright1 8,453,907 - 7,729 + 803,041

U.S. Treasury securities 5,734,180 + 1,153 + 470,440

Bills2 326,044 0 0

Notes and bonds, nominal2 4,940,459 0 + 408,628

Notes and bonds, inflation-indexed2 374,719 0 + 25,776

Inflation compensation3 92,959 + 1,153 + 36,037

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,717,379 - 8,882 + 332,600

Unamortized premiums on securities held outright5 330,669 - 1,064 - 21,880

Unamortized discounts on securities held outright5 -25,851 - 92 - 11,202

Repurchase agreements6 1 + 1 + 1

Loans7 20,178 + 248 - 65,309

Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 22,654

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 26,053 + 15 - 4,392

Net portfolio holdings of Municipal Liquidity Facility LLC8 5,547 + 1 - 4,214

Net portfolio holdings of TALF II LLC8 2,182 + 1 - 2,508

Items in process of collection (0) 58 - 7 - 20

Bank premises 616 + 7 - 1,150

Central bank liquidity swaps9 206 + 11 - 270

Foreign currency denominated assets10 17,676 - 77 - 3,560

Other assets11 41,249 - 536 + 2,623

Total assets (0) 8,890,004 - 9,209 + 668,531

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 27, 2022 Jul 20, 2022 Jul 28, 2021

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,224,973 - 1,092 + 88,090

Reverse repurchase agreements12 2,484,253 - 50,222 +1,264,120

Deposits (0) 4,113,295 + 41,111 - 662,020

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,275,609 + 40,437 - 725,452

U.S. Treasury, General Account 615,515 - 833 + 78,549

Foreign official 9,601 - 1,151 + 3,407

Other13 (0) 212,570 + 2,659 - 18,524

Deferred availability cash items (0) 633 + 427 - 258

Treasury contributions to credit facilities14 17,940 0 - 22,338

Other liabilities and accrued dividends15 7,201 + 564 - 1,173

Total liabilities (0) 8,848,295 - 9,211 + 666,420

Capital accounts

Capital paid in 34,924 + 2 + 2,110

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 41,709 + 2 + 2,110

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, Paycheck Protection 

Program Liquidity Facility, and other credit extensions.

8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to 

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign 

central bank.

10. Revalued daily at current foreign currency exchange rates.

11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of 

$1.2 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 27, 2022

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 16,237 544 5,271 537 763 1,203 2,247 1,093 461 263 440 1,279 2,136

Coin 1,276 18 25 109 50 193 106 230 26 39 92 158 230

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,778,904 175,441 4,494,158 201,680 353,022 610,477 573,190 599,536 137,627 68,106 136,869 449,414 979,384

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 26,053 26,053 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 5,547 0 5,547 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 2,182 0 2,182 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 206 9 72 8 20 41 7 8 4 1 2 5 30

Foreign currency denominated 

assets4 17,676 761 6,157 656 1,727 3,544 575 670 356 89 182 425 2,534

Other assets5 41,923 934 20,373 1,049 1,734 3,202 2,788 2,814 784 485 961 2,216 4,583

Interdistrict settlement account 0 - 19,897 + 305,874 - 33,360 - 77,753 - 3,166 + 5,495 - 47,856 - 943 - 1,419 - 10,887 - 4,359 - 111,729

Total assets 8,890,004 183,863 4,839,660 170,679 279,564 615,495 584,407 556,495 138,315 67,564 127,659 449,138 877,167

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 27, 2022 (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 2,224,973 76,329 703,809 57,580 102,474 151,116 340,812 125,200 70,914 33,792 57,988 194,563 310,395

Reverse repurchase agreements6 2,484,253 49,735 1,273,680 57,072 99,203 173,119 162,536 169,823 39,016 17,615 38,779 127,367 276,308

Deposits 4,113,295 42,948 2,840,070 54,268 73,594 281,893 78,555 259,342 27,271 15,726 30,207 125,713 283,708

Depository institutions 3,275,609 42,939 2,168,892 54,266 73,557 280,669 78,520 94,596 27,262 15,537 30,177 125,513 283,680

U.S. Treasury, General Account 615,515 0 615,515 0 0 0 0 0 0 0 0 0 0

Foreign official 9,601 2 9,575 1 4 8 1 2 1 0 0 1 6

Other7 212,570 7 46,089 0 33 1,216 34 164,745 8 189 29 199 23

Earnings remittances due to the U.S. 

Treasury8 1,438 19 660 39 69 58 145 83 24 10 39 95 197

Treasury contributions to credit facilities9 17,940 13,891 4,049 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 6,397 -826 2,844 223 253 867 1,023 535 185 164 212 321 596

Total liabilities 8,848,295 182,095 4,825,113 169,182 275,593 607,053 583,071 554,984 137,410 67,307 127,225 448,058 871,204

Capital

Capital paid in 34,924 1,476 12,184 1,245 3,308 7,081 1,115 1,254 769 222 364 917 4,990

Surplus 6,785 292 2,363 252 663 1,361 221 257 137 34 70 163 973

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

Total liabilities and capital 8,890,004 183,863 4,839,660 170,679 279,564 615,495 584,407 556,495 138,315 67,564 127,659 449,138 877,167

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 27, 2022 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities 

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between 

the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, 

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other credit extensions.

2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate 

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

4. Revalued daily at current foreign currency exchange rates.

5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. 

6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by 

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, 

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after 

providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap.

9. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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 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 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 27, 2022

Federal Reserve notes outstanding 2,543,978

Less: Notes held by F.R. Banks not subject to collateralization 319,005

Federal Reserve notes to be collateralized 2,224,973

Collateral held against Federal Reserve notes 2,224,973

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,208,736

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,453,908

Less: Face value of securities under reverse repurchase agreements 2,541,219

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,912,689

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.