---

`FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                      May 7, 2020


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended   May 6, 2020 
Federal Reserve Banks                                      May 6, 2020 Apr 29, 2020  May 8, 2019              

Reserve Bank credit                                         6,663,700   +   66,045   +2,811,277    6,682,832  
  Securities held outright (1)                              5,605,502   +   43,004   +1,903,657    5,627,918  
    U.S. Treasury securities                                3,998,014   +   52,997   +1,873,949    4,020,191  
      Bills (2)                                               326,044            0   +  325,944      326,044  
      Notes and bonds, nominal (2)                          3,390,412   +   46,208   +1,403,987    3,409,516  
      Notes and bonds, inflation-indexed (2)                  245,409   +    6,290   +  130,048      248,266  
      Inflation compensation (3)                               36,149   +      498   +   13,971       36,365  
    Federal agency debt securities (2)                          2,347            0            0        2,347  
    Mortgage-backed securities (4)                          1,605,141   -    9,993   +   29,708    1,605,380  
  Unamortized premiums on securities held outright (5)        285,429   +    4,161   +  151,526      286,502  
  Unamortized discounts on securities held outright (5)        -5,631   +      176   +    7,322       -5,534  
  Repurchase agreements (6)                                   172,929   +    9,371   +  172,920      172,700  
    Foreign official                                                0            0            0            0  
    Others                                                    172,929   +    9,372   +  172,920      172,700  
  Loans                                                       118,730   -    2,654   +  118,686      113,342  
    Primary credit                                             29,913   -    1,346   +   29,907       26,494  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0            0   -       37            0  
    Primary Dealer Credit Facility                             19,070   -    9,548   +   19,070       14,903  
    Money Market Mutual Fund Liquidity Facility                44,695   -    2,809   +   44,695       42,763  
    Paycheck Protection Program Liquidity Facility             25,052   +   11,049   +   25,052       29,181  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Commercial Paper Funding      
    Facility II LLC (7)                                         3,974   +    1,053   +    3,974        3,988  
  Float                                                          -275   +       92   -      133         -241  
  Central bank liquidity swaps (8)                            444,965   +   10,712   +  444,910      444,885  
  Other Federal Reserve assets (9)                             38,077   +      130   +    8,415       39,271  
Foreign currency denominated assets (10)                       20,653   +      213   +       62       20,521  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,289   +       14   +      390       50,289  
                                                                                                              
Total factors supplying reserve funds                       6,750,883   +   66,272   +2,811,728    6,769,884  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended   May 6, 2020 
Federal Reserve Banks                                      May 6, 2020 Apr 29, 2020  May 8, 2019              

Currency in circulation (11)                                 1,916,084   +   12,651   +  184,698    1,921,765 
Reverse repurchase agreements (12)                             270,674   -      633   +    6,506      265,206 
  Foreign official and international accounts                  269,177   +    2,299   +    5,166      264,031 
  Others                                                         1,497   -    2,933   +    1,340        1,175 
Treasury cash holdings                                             301   +        3   -       28          296 
Deposits with F.R. Banks, other than reserve balances        1,339,981   +   53,457   +  927,439    1,352,933 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                             1,127,490   +  129,983   +  779,133    1,143,268 
  Foreign official                                              16,350   +       33   +   11,106       16,336 
  Other (13)                                                   196,142   -   76,557   +  137,201      193,329 
Other liabilities and capital (14)                              64,905   +      997   +   19,151       64,080 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  3,591,945   +   66,476   +1,137,765    3,604,279 
                                                                                                              
Reserve balances with Federal Reserve Banks                  3,158,938   -      204   +1,673,963    3,165,605 

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.  Refer to the note on consolidation accompanying table 5.                                                
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. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended   May 6, 2020 
                                                           May 6, 2020 Apr 29, 2020  May 8, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,345,393   +    8,044   -  116,161    3,356,517 
  Marketable U.S. Treasury securities (1)                    2,879,491   +    9,783   -  176,804    2,891,121 
  Federal agency debt and mortgage-backed securities (2)       380,456   -    2,095   +   48,314      380,343 
  Other securities (3)                                          85,447   +      357   +   12,330       85,054 
Securities lent to dealers                                      38,450   +    4,092   +   14,775       37,938 
  Overnight facility (4)                                        38,450   +    4,092   +   14,775       37,938 
    U.S. Treasury securities                                    38,450   +    4,092   +   14,775       37,938 
    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, 4, and 5.     
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.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 6, 2020         

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans (1)                                   13,238        57,105        13,817        29,181             0           ...       113,342 
U.S. Treasury securities (2)                                                                                                           
  Holdings                                 104,760       213,636       558,517     1,568,584       675,810       898,885     4,020,191 
  Weekly changes                        +   49,466    -   36,220    +   22,696    -    3,888    +   10,214    +    6,504    +   48,772 
Federal agency debt securities (3)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (4)                                                                                                         
  Holdings                                       0             0             5         2,014        78,947     1,524,414     1,605,380 
  Weekly changes                                 0             0    +        1    +      169    +    2,428    -    1,937    +      660 
Commercial paper held by Commercial                                                                                                    
  Paper Funding Facility II LLC (5)              0         3,948             0           ...           ...           ...         3,948 
Repurchase agreements (6)                   42,850       129,850           ...           ...           ...           ...       172,700 
Central bank liquidity swaps (7)            23,293       421,593             0             0             0             0       444,885 
Reverse repurchase agreements (6)          265,206             0           ...           ...           ...           ...       265,206 
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 loan from the Federal Reserve Bank of New  
    York (FRBNY) to Commercial Paper Funding Facility II LLC, which was eliminated when preparing the   
    FRBNY's statement of condition 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.  Face value of commercial paper held by Commercial Paper Funding Facility II LLC.                        
6.  Cash value of agreements.                                                                               
7.  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.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                       May 6, 2020  

Mortgage-backed securities held outright (1)                                                                             1,605,380  
  Residential mortgage-backed securities                                                                                 1,597,206  
  Commercial mortgage-backed securities                                                                                      8,174  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                          331,582  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    7  



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 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from        May 6, 2020   Wednesday    Wednesday  
                                                        consolidation                Apr 29, 2020  May 8, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,557   -       41   -      114  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     6,194,928   +   57,682   +2,371,975  
    Securities held outright (1)                                          5,627,918   +   49,432   +1,926,009  
      U.S. Treasury securities                                            4,020,191   +   48,772   +1,896,062  
        Bills (2)                                                           326,044            0   +  325,944  
        Notes and bonds, nominal (2)                                      3,409,516   +   42,469   +1,423,091  
        Notes and bonds, inflation-indexed (2)                              248,266   +    5,976   +  132,905  
        Inflation compensation (3)                                           36,365   +      327   +   14,123  
      Federal agency debt securities (2)                                      2,347            0            0  
      Mortgage-backed securities (4)                                      1,605,380   +      660   +   29,947  
    Unamortized premiums on securities held outright  
    (5)                                                                     286,502   +    3,262   +  152,646  
    Unamortized discounts on securities held outright 
    (5)                                                                      -5,534   +      177   +    7,409  
    Repurchase agreements (6)                                               172,700   +   14,498   +  172,635  
    Loans (7)                                                               113,342   -    9,686   +  113,276  
  Net portfolio holdings of Commercial Paper          
    Funding Facility II LLC (8)                                               3,988   +      616   +    3,988  
  Items in process of collection                                   (0)           30   -       11   -       85  
  Bank premises                                                               2,203   -        5   +        9  
  Central bank liquidity swaps (9)                                          444,885   +    5,932   +  444,830  
  Foreign currency denominated assets (10)                                   20,521   -        4   -      146  
  Other assets (11)                                                          37,069   +    1,320   +    8,747  
                                                                                                               
Total assets                                                       (0)    6,721,420   +   65,491   +2,829,204  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from        May 6, 2020   Wednesday    Wednesday  
                                                        consolidation                Apr 29, 2020  May 8, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,873,325   +   11,194   +  188,164 
  Reverse repurchase agreements (12)                                         265,206   -    3,900   +    4,236 
  Deposits                                                          (0)    4,518,539   +   58,401   +2,618,263 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         3,165,606   +    2,093   +1,674,926 
    U.S. Treasury, General Account                                         1,143,268   +   67,036   +  798,807 
    Foreign official                                                          16,336   +       13   +   11,091 
    Other (13)                                                      (0)      193,329   -   10,741   +  133,438 
  Deferred availability cash items                                  (0)          272   -    1,166   +       25 
  Other liabilities and accrued dividends (14)                                25,208   +      929   +   19,074 
                                                                                                               
Total liabilities                                                   (0)    6,682,549   +   65,458   +2,829,761 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,046   +       33   -      556 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,871   +       33   -      556 

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.  Refer to the note on consolidation accompanying table 5.                                                
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. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



5. Statement of Condition of Each Federal Reserve Bank, May 6, 2020
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 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                                             1,557          35          45          145          87         213         150         261          21          44         102         175         279
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans (1)                             6,194,928     181,893   3,187,013      139,967     190,959     384,954     450,608     343,929      97,418      58,706      99,043     295,039     765,399
  Net portfolio holdings of Commercial      
     Paper Funding Facility II LLC (2)             3,988           0       3,988            0           0           0           0           0           0           0           0           0           0
  Central bank liquidity swaps (3)               444,885      21,117     149,510       16,010      38,018      93,901      22,065      17,277       7,293       3,484       4,692       5,282      66,239
  Foreign currency denominated                                                                                                                                                                           
     assets (4)                                   20,521         974       6,898          738       1,753       4,331       1,018         797         336         161         216         244       3,055
  Other assets (5)                                39,302       1,007      19,140          946       1,300       2,759       2,934       2,224         789         510         912       2,017       4,765
  Interdistrict settlement account                     0  -   60,309  +  374,553   -   10,099  -   27,257  +   45,852  -   99,773  -    7,743  -   18,642  -   13,287  -   10,823  +    2,632  -  175,105
                                                                                                                                                                                                         
Total assets                                   6,721,420     145,250   3,746,631      148,236     205,621     533,176     379,184     357,882      87,695      49,887      94,591     306,591     666,677

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, May 6, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes, net                   1,873,325      57,984     622,362      51,175      85,060     126,216     258,186     121,874      59,352      30,471      50,417     153,195     257,032
  Reverse repurchase agreements (6)              265,206       5,956     137,312       6,051       8,297      16,622      19,545      14,813       4,190       2,506       4,217      12,781      32,915
  Deposits                                     4,518,539      79,063   2,956,484      89,212     108,442     381,011      98,436     218,821      23,198      16,098      39,208     139,241     369,325
    Depository institutions                    3,165,606      79,040   1,737,189      89,211     106,417     379,722      98,333     100,005      23,191      16,040      31,341     135,797     369,319
    U.S. Treasury, General Account             1,143,268           0   1,143,268           0           0           0           0           0           0           0           0           0           0
    Foreign official                              16,336           2      16,310           1           3           8           2           2           1           0           0           0           6
    Other (7)                                    193,329          21      59,718           0       2,022       1,280         100     118,814           6          58       7,866       3,443           0
  Earnings remittances due to the U.S.      
     Treasury (8)                                  2,029          56       1,069          44          62          96         149         113          37          23          32          94         255
  Other liabilities and accrued             
     dividends                                    23,451         362      16,402         366         463       1,047         969         764         283         462         301         627       1,405
                                                                                                                                                                                                        
Total liabilities                              6,682,549     143,421   3,733,630     146,847     202,324     524,990     377,285     356,385      87,059      49,561      94,176     305,939     660,932
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,046       1,505      10,707       1,143       2,714       6,745       1,561       1,232         523         272         344         571       4,729
  Surplus                                          6,825         324       2,294         246         583       1,441         338         265         112          53          72          81       1,016
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  6,721,420     145,250   3,746,631     148,236     205,621     533,176     379,184     357,882      87,695      49,887      94,591     306,591     666,677

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, May 6, 2020 (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.  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.                                                                         
                                                                                                                                                                                                            


Note on consolidation:

On April 14, 2020, the Federal Reserve Bank of New York (FRBNY) began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC) under the authority of section 13(3) of
the Federal Reserve Act. CPFF II LLC is a limited liability company formed to purchase three-month U.S dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC are
used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY.                                                                            

The FRBNY is the managing member of CPFF II LLC. Consistent with generally accepted accounting principles, the assets and liabilities of the CPFF II LLC have been consolidated with the
assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the FRBNY to CPFF II LLC is
eliminated, the net assets of the CPFF II LLC appear as assets on the previous page (and in table 1 and table 4), and the liabilities of the CPFF II LLC to entities other than the FRBNY, including
those with recourse only to the portfolio holdings of the CPFF II LLC are included in other liabilities in this table (and table 1 and table 4).                                              






6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                           May 6, 2020  

Federal Reserve notes outstanding                                                            2,028,096  
  Less: Notes held by F.R. Banks not subject to collateralization                              154,771  
    Federal Reserve notes to be collateralized                                               1,873,325  
Collateral held against Federal Reserve notes                                                1,873,325  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,857,088  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       5,800,618  
  Less: Face value of securities under reverse repurchase agreements                           252,327  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        5,548,291  

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.`

Statistical releases

---

Home Economic research and data  Accessibility Contact Us  Last update:  May 07, 2020