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FEDERAL RESERVE statistical release
H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks

August 19, 2021

1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks
Reserve Bank credit
Securities held outright1
U.S. Treasury securities
Bills2
Notes and bonds, nominal2
Notes and bonds, inflation-indexed2
Inflation compensation3
Federal agency debt securities2
Mortgage-backed securities4
Unamortized premiums on securities held outright5
Unamortized discounts on securities held outright5
Repurchase agreements6
Foreign official
Others
Loans
Primary credit
Secondary credit
Seasonal credit
Primary Dealer Credit Facility
Money Market Mutual Fund Liquidity Facility
Paycheck Protection Program Liquidity Facility
Other credit extensions
Net portfolio holdings of Commercial Paper Funding
Facility II LLC7
Net portfolio holdings of Corporate Credit Facilities LLC7
Net portfolio holdings of MS Facilities LLC (Main Street
Lending Program)7
Net portfolio holdings of Municipal Liquidity Facility LLC7
Net portfolio holdings of TALF II LLC7
Float
Central bank liquidity swaps8
Other Federal Reserve assets9
Foreign currency denominated assets10
Gold stock
Special drawing rights certificate account
Treasury currency outstanding11

Week ended
Aug 18, 2021
8,298,122
7,775,510
5,313,850
326,044
4,576,355
352,028
59,423
2,347
2,459,313
354,832
-14,955
0
0
0
81,639
293
0
23
0
0
81,323
0
0
17,114
30,556
9,765
4,513
-120
497
38,772
21,202
11,041
5,200
50,810

Averages of daily figures
Change from week ended
Aug 11, 2021
Aug 19, 2020
+
+
+
+
+
+
+
+
-

+
+

-

+
+
+

+

93,180
98,714
24,186
0
21,233
1,886
1,067
0
74,528
1,820
157
0
0
0
1,703
21
0
6
0
0
1,730
0

+1,332,817
+1,464,842
+ 984,543
0
+ 885,616
+
76,321
+
22,606
0
+ 480,298
+
29,562
10,027
0
0
0
858
2,366
0
18
693
11,202
+
13,420
0

Wednesday
Aug 18, 2021
8,303,796
7,791,636
5,323,651
326,044
4,584,442
353,344
59,821
2,347
2,465,638
354,940
-15,191
0
0
0
80,808
291
0
28
0
0
80,489
0

0
798

-

8,601
27,352

0
17,116

12
2
0
13
13
4,685
34
0
0
14

+
+
-

7,333
6,323
6,257
85
95,325
405
437
0
0
511

30,534
9,766
4,513
-129
488
29,315
21,128
11,041
5,200
50,810

+1,332,891

8,391,974

8,386,375
+
93,228
Total factors supplying reserve funds
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
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Week ended
Aug 18, 2021

Averages of daily figures
Change from week ended
Aug 11, 2021
Aug 19, 2020

Currency in circulation11
Reverse repurchase agreements12
Foreign official and international accounts
Others
Treasury cash holdings
Deposits with F.R. Banks, other than reserve balances
Term deposits held by depository institutions
U.S. Treasury, General Account
Foreign official
Other13
Treasury contributions to credit facilities14
Other liabilities and capital15

2,187,964
1,329,660
265,989
1,063,670
48
590,843
0
338,808
7,753
244,282
40,278
50,870

+
+
+
-

-

655
86,918
7,951
94,868
2
88,456
0
96,111
168
7,823
0
785

Total factors, other than reserve balances,
absorbing reserve funds

4,199,664

-

2,976

4,186,711

+

96,205

Reserve balances with Federal Reserve Banks
Note: Components may not sum to totals because of rounding.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.

14.
15.

+

Wednesday
Aug 18, 2021

+ 180,506
+1,115,083
+
51,454
+1,063,628
8
-1,247,693
0
-1,304,697
8,850
+
65,854
73,722
301

2,188,089
1,385,401
269,745
1,115,656
54
567,620
0
313,651
7,232
246,737
40,278
48,368

-

26,135

4,229,810

+1,359,026

4,162,165

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
Face value of the securities.
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of
the securities.
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.
Cash value of agreements.
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.
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.
Includes bank premises, accrued interest, and other accounts receivable.
Revalued daily at current foreign currency exchange rates.
Estimated.
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities
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.
Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity
Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.
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
Memorandum item
Securities held in custody for foreign official and international
accounts
Marketable U.S. Treasury securities1
Federal agency debt and mortgage-backed securities2
Other securities3
Securities lent to dealers
Overnight facility4
U.S. Treasury securities
Federal agency debt securities
Note: Components may not sum to totals because of rounding.
1.
2.
3.
4.

Week ended
Aug 18, 2021
3,502,193
3,068,034
341,794
92,365
30,513
30,513
30,513
0

Averages of daily figures
Change from week ended
Aug 11, 2021
Aug 19, 2020
+
+
+
+
+
+

5,921
6,389
529
60
150
150
150
0

+
+
+
+
+
+

84,783
96,390
18,134
6,527
3,150
3,150
3,150
0

Wednesday
Aug 18, 2021
3,508,090
3,074,668
341,163
92,260
36,380
36,380
36,380
0

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.
Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the
securities.
Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
Face value. Fully collateralized by U.S. Treasury securities.

H.4.1

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, August 18, 2021
Millions of dollars
Within 15
days

Remaining Maturity
Loans
U.S. Treasury securities2
Holdings
Weekly changes

107

1

Federal agency debt securities3
Holdings
Weekly changes

-

79,791
29,185

2.
3.
4.
5.
6.
7.
8.
9.

Over 5 year
to 10 years

9,375

71,114

0

696,797
20,106

2,021,245
31,083

0
0

0
0

0
0

0
0

18
0

0

0

16,115

...

...

16,115

0
0
0
5
0
0

0
0
...
0
...
0

4,373
1,469
...
0
...
...

...
...
...
0
...
...

...
...
...
0
...
...

4,373
1,469
0
488
1,385,401
0

91 days to
1 year

212

+

297,515
39,101

0
0

Mortgage-backed securities4
0
Holdings
0
Weekly changes
Loan participations held by MS
Facilities LLC (Main Street Lending
0
Program)5
Municipal notes held by Municipal
0
Liquidity Facility LLC6
0
Loans held by TALF II LLC7
0
Repurchase agreements8
483
Central bank liquidity swaps9
1,385,401
Reverse repurchase agreements8
0
Term deposits
Note: Components may not sum to totals because of rounding.
...Not applicable.
1.

Over 1 year
to 5 years

16 days to
90 days

+

-

1,812
6

+

973,108
5,121

Over 10
years
...
1,255,194
16,097

+

2,134
0

-

63,730
491

All
80,808
5,323,651
20,156

+

213
0
2,400,078
81,350

+

2,347
0
2,465,638
80,853

+

Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection
Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Corporate
Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC,
which were eliminated when preparing the FRBNY's and FRBB’s statement of condition, respectively, consistent with consolidation under generally
accepted accounting principles.
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.
Face value.
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
Book value of the loan participations held by the MS Facilities LLC.
Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
Book value of the loans held by the TALF II LLC.
Cash value of agreements.
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
Aug 18, 2021

Account name

2,465,638
2,455,980
9,658

Mortgage-backed securities held outright1
Residential mortgage-backed securities
Commercial mortgage-backed securities

109,499

Commitments to buy mortgage-backed securities2
Commitments to sell mortgage-backed securities2

0

0
Cash and cash equivalents3
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 Aug 18, 2021
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal
amount
of loan
extended to
the LLC1
4,803
Corporate Credit Facilities LLC
16,050
MS Facilities LLC (Main Street Lending Program)
4,373
Municipal Liquidity Facility LLC
1,482
TALF II LLC
Note: Components may not sum to totals because of rounding.
Credit Facilities LLCs:

Outstanding
amount of
facility
asset
purchases2
1,595
13,570
4,373
1,469

Treasury
contributions
and
other assets3
15,521
16,964
5,393
3,044

Total
17,116
30,534
9,766
4,513

1. Book value. This amount was eliminated when preparing the Federal Reserve Banks’ statement of condition consistent with consolidation under
generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve
Bank to the LLC upon settlement of the investment activity.
2. Outstanding amount of facility asset purchases:
a. For the Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. Asset balances from trading activity are
reported on a one-day lag after the transaction date.
b. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses
updated as of June 30, 2021.
c. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on
a one-day lag after the transaction date.
d. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.
3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury
contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash
and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are
excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the credit facilities
from the following consolidated LLCs: Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on
consolidation accompanying table 6.

H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital
Assets
Gold certificate account
Special drawing rights certificate account
Coin
Securities, unamortized premiums and discounts,
repurchase agreements, and loans
Securities held outright1
U.S. Treasury securities
Bills2
Notes and bonds, nominal2
Notes and bonds, inflation-indexed2
Inflation compensation3
Federal agency debt securities2
Mortgage-backed securities4
Unamortized premiums on securities held outright5
Unamortized discounts on securities held outright5
Repurchase agreements6
Loans7
Net portfolio holdings of Commercial Paper Funding
Facility II LLC8
Net portfolio holdings of Corporate Credit Facilities LLC8
Net portfolio holdings of MS Facilities LLC (Main Street
Lending Program)8
Net portfolio holdings of Municipal Liquidity Facility LLC8
Net portfolio holdings of TALF II LLC8
Items in process of collection
Bank premises
Central bank liquidity swaps9
Foreign currency denominated assets10
Other assets11

Eliminations from
consolidation

Wednesday
Aug 18, 2021
11,037
5,200
1,239
8,212,192
7,791,636
5,323,651
326,044
4,584,442
353,344
59,821
2,347
2,465,638
354,940
-15,191
0
80,808
0
17,116

(0)

30,534
9,766
4,513
70
1,663
488
21,128
27,652

(0)
8,342,598
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

Change since
Wednesday
Wednesday
Aug 11, 2021
Aug 19, 2020

+
+
+

0
0
11

-

0
0
257

-

100,833
101,009
20,156
0
15,803
3,202
1,151
0
80,853
1,905
388
0
1,692

+

0
2

-

8,588
27,364

+
-

41
2
0
6
2
4
4
15,336

+
+

7,449
6,323
6,258
24
534
95,292
594
1,212

+

85,439

+1,331,961

+
+
+
+
+
-

+

+1,483,383
+1,465,848
+ 978,107
0
+ 877,607
+
77,637
+
22,863
0
+ 487,741
+
29,046
10,128
0
1,382

H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital
Liabilities
Federal Reserve notes, net of F.R. Bank holdings
Reverse repurchase agreements12
Deposits
Term deposits held by depository institutions
Other deposits held by depository institutions
U.S. Treasury, General Account
Foreign official
Other13
Deferred availability cash items
Treasury contributions to credit facilities14
Other liabilities and accrued dividends15
Total liabilities
Capital accounts
Capital paid in
Surplus
Other capital accounts
Total capital
Note: Components may not sum to totals because of rounding.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.

14.
15.

Eliminations from
consolidation

(0)

(0)
(0)

(0)

Wednesday
Aug 18, 2021

Change since
Wednesday
Wednesday
Aug 11, 2021
Aug 19, 2020

2,138,568
1,385,401
4,729,785
0
4,162,165
313,651
7,232
246,737
199
40,278
8,626

+
-

-

1,247
117,403
29,035
0
34,875
76,096
399
12,586
32
0
1,656

+ 177,760
+1,174,059
+
53,626
0
+1,340,312
-1,322,742
9,378
+
45,433
92
73,722
534

8,302,856

+

85,431

+1,331,096

32,957
6,785
0

+

8
0
0

+
-

905
40
0

39,742

+

8

+

865

+
+
-

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
Face value of the securities.
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
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.
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.
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.
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.
Revalued daily at current foreign currency exchange rates.
Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
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.
Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity
Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.
Includes the liability for earnings remittances due to the U.S. Treasury.

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, August 18, 2021
Millions of dollars
Assets, liabilities, and capital
Assets
Gold certificates and special drawing
rights certificates
Coin
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans1
Net portfolio holdings of Corporate
Credit Facilities LLC2
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program)2
Net portfolio holdings of Municipal
Liquidity Facility LLC2
Net portfolio holdings of TALF II LLC2
Central bank liquidity swaps3
Foreign currency denominated
assets4
Other assets5
Interdistrict settlement account

Total

Boston

New York Philadelphia Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas
City

San
Francisco

Dallas

16,237
1,239

531
17

5,422
23

523
114

752
57

1,187
180

2,188
113

1,136
234

475
15

273
30

455
87

1,220
144

2,075
225

8,212,192

135,965

4,606,452

174,983

311,535

546,148

477,116

444,366

106,798

88,768

109,577

360,541

849,943

17,116

0

17,116

0

0

0

0

0

0

0

0

0

0

30,534

30,534

0

0

0

0

0

0

0

0

0

0

0

9,766
4,513
488

0
0
22

9,766
4,513
164

0
0
18

0
0
42

0
0
102

0
0
22

0
0
19

0
0
9

0
0
4

0
0
5

0
0
9

0
0
72

21,128
29,385
0 +

959
581
22,764 -

7,101
15,180
452,305 +

759
720
12,616 +

1,827
1,144
28,536 +

8,342,598
191,373 4,213,432
189,733
343,893
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

4,397
2,240
32,755 +
587,008

956
1,849
59,281 +
541,525

828
1,633
101,333 +
549,549

402
542
15,951 124,192

180
395
7,946 +
81,704

229
706
18,495 +
129,554

381
1,401
48,093 +
411,789

3,111
2,993
120,428
978,846

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, August 18, 2021 (continued)
Millions of dollars
Assets, liabilities, and capital
Liabilities
Federal Reserve notes, net
Reverse repurchase agreements6
Deposits
Depository institutions
U.S. Treasury, General Account
Foreign official
Other7
Earnings remittances due to the U.S.
Treasury8

Total

Boston

New York Philadelphia Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas
City

San
Francisco

Dallas

2,138,568
1,385,401
4,729,785

69,407
23,151
82,303

690,513
783,106
2,697,687

63,433
29,261
95,218

102,640
50,409
186,908

155,069
92,833
330,012

306,884
81,174
150,938

125,239
75,602
346,483

57,904
18,062
47,236

33,044
10,720
37,357

55,187
18,397
55,254

196,041
61,265
153,022

283,206
141,422
547,366

4,162,165
313,651
7,232
246,737

82,293
0
2
9

2,310,483
313,651
7,205
66,347

95,217
0
1
0

186,861
0
3
43

329,484
0
8
520

150,804
0
2
131

168,124
0
2
178,358

47,217
0
1
19

37,158
0
0
199

54,425
0
0
829

152,760
0
1
261

547,339
0
6
21

2,835

40

1,640

56

97

161

173

162

33

25

41

132

276

40,278

16,572

23,706

0

0

0

0

0

0

0

0

0

0

5,989

-1,865

3,467

265

330

765

588

524

213

333

239

390

741

8,302,856

189,608

4,200,120

188,234

340,384

578,839

539,756

548,009

123,449

81,479

129,118

410,850

973,010

32,957
6,785
0

1,457
308
0

11,032
2,280
0

1,256
244
0

2,922
587
0

6,756
1,412
0

1,462
307
0

1,275
266
0

614
129
0

167
58
0

362
73
0

817
122
0

4,837
999
0

8,342,598
191,373 4,213,432
189,733
343,893
Total liabilities and capital
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

587,008

541,525

549,549

124,192

81,704

129,554

411,789

978,846

Treasury contributions to credit facilities9
Other liabilities and accrued
dividends
Total liabilities
Capital
Capital paid in
Surplus
Other capital

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, August 18, 2021 (continued)
1.

2.
3.
4.
5.
6.
7.
8.
9.

Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities
lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between
the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities,
amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility,
and other credit extensions.
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.
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.
Revalued daily at current foreign currency exchange rates.
Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
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.
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.
Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC
of $3.5 billion.

Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal
Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the
FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans
or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate
Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began
extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount
provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose
vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are
used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help
ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are
used to secure the loan from the FRBB.
The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with
generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs
consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in
table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this
table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).

H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts
Millions of dollars
Federal Reserve notes and collateral
Federal Reserve notes outstanding
Less: Notes held by F.R. Banks not subject to collateralization
Federal Reserve notes to be collateralized
Collateral held against Federal Reserve notes
Gold certificate account
Special drawing rights certificate account
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2
Other assets pledged
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2
Less: Face value of securities under reverse repurchase agreements
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged
Note: Components may not sum to totals because of rounding.
1.
2.

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

Wednesday
Aug 18, 2021
2,366,804
228,237
2,138,568
2,138,568
11,037
5,200
2,122,331
0
7,791,636
1,315,417
6,476,219