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FEDERAL RESERVE statistical release For Release at 4:30 P.M. EDT February 18, 2021 As of March 4, 2021 the ASCII format data tables for the H.4.1 Factors Affecting Reserve Balances will no longer be available on this webpage. Historical data tables will continue to be available and current data will continue to be available through the Data Download Program and HTML. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 18, 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 Feb 17, 2021 Averages of daily figures Change from week ended Feb 10, 2021 Feb 19, 2020 7,512,414 6,980,839 4,812,144 326,044 4,122,355 320,422 43,322 2,347 2,166,348 349,358 -6,532 714 714 0 53,031 1,767 0 0 265 1,729 49,270 0 + + + 8,557 26,269 + 1 11 + + 8,557 26,269 8,556 26,240 33,270 11,536 6,405 -70 8,165 40,872 21,977 11,041 5,200 50,539 + + 42 9 1 2 298 1,740 64 0 0 14 + + + + + + + 33,270 11,536 6,405 44 8,097 11,356 1,734 0 0 412 33,265 11,538 6,405 -113 8,165 29,036 21,847 11,041 5,200 50,539 +3,369,722 7,606,202 + + + + + + + + + 124,384 122,200 25,642 0 23,317 2,058 267 0 96,558 3,314 110 200 200 0 1,260 93 0 0 254 0 1,420 0 7,601,171 + 124,461 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. +3,367,576 +3,143,635 +2,367,175 + 65,863 +2,094,049 + 189,370 + 17,892 0 + 776,459 + 225,310 + 6,769 - 166,700 + 714 - 167,414 + 53,029 + 1,765 0 0 + 265 + 1,729 + 49,270 0 Wednesday Feb 17, 2021 + 7,517,575 6,996,966 4,824,057 326,044 4,134,243 320,422 43,348 2,347 2,170,562 349,725 -6,728 500 500 0 54,019 1,755 0 0 265 1,729 50,271 0 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 Feb 17, 2021 Averages of daily figures Change from week ended Feb 10, 2021 Feb 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 2,102,074 205,063 205,040 24 72 1,810,026 0 1,567,041 22,302 220,683 51,778 53,250 + + + + - Total factors, other than reserve balances, absorbing reserve funds 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 Feb 17, 2021 + 2,694 990 1,043 52 11 615 0 41,865 343 40,907 0 1,393 + 303,977 20,701 18,574 2,126 179 +1,300,966 0 +1,138,236 + 17,117 + 145,613 + 51,778 + 9,090 2,102,242 201,719 201,669 50 79 1,793,134 0 1,568,893 23,052 201,188 51,778 49,379 4,222,264 + 4,474 +1,644,933 4,198,331 3,378,907 + 119,988 +1,724,789 3,407,871 + + 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. Also includes net portfolio holdings of Maiden Lane LLC. 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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion. 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 Feb 17, 2021 3,549,734 3,099,882 360,349 89,503 26,815 26,815 26,815 0 Averages of daily figures Change from week ended Feb 10, 2021 Feb 19, 2020 + + + + - 14,051 11,807 1,410 834 1,574 1,574 1,574 0 + + + + + + 87,227 102,453 22,441 7,214 1,046 1,046 1,046 0 Wednesday Feb 17, 2021 3,546,739 3,097,157 359,792 89,791 29,233 29,233 29,233 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, February 17, 2021 Millions of dollars Within 15 days Remaining Maturity 1,729 Loans1 U.S. Treasury securities2 Holdings Weekly changes Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days + 100,436 1,107 0 0 2,019 + 326,865 19,806 0 0 Mortgage-backed securities4 0 0 Holdings 0 0 Weekly changes Commercial paper held by Commercial 0 0 Paper Funding Facility II LLC5 Loan participations held by MS Facilities LLC (Main Street Lending 0 0 Program)6 Municipal notes held by Municipal 0 0 Liquidity Facility LLC7 0 0 Loans held by TALF II LLC8 500 0 Repurchase agreements9 4,816 3,349 Central bank liquidity swaps10 201,719 0 Reverse repurchase agreements9 0 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. Over 1 year to 5 years Over 5 year to 10 years 0 50,260 11 634,962 2,796 1,821,988 4,104 0 0 0 0 91 days to 1 year - 6 0 - 2,109 3 + 851,747 6,089 Over 10 years ... + 1,818 0 - 72,007 515 All 1,088,059 5,055 54,019 + 529 0 + 2,096,440 101,290 4,824,057 25,156 2,347 0 + 2,170,562 100,772 0 ... ... ... 0 0 16,548 ... ... 16,548 845 0 ... 0 ... 0 5,358 2,593 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 6,203 2,593 500 8,165 201,719 0 Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB’s statement of condition, respectively, consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC. 6. Book value of the loan participations held by the MS Facilities LLC. 7. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 8. Book value of the loans held by the TALF II LLC. 9. Cash value of agreements. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 1. H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Wednesday Feb 17, 2021 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,170,562 2,160,666 9,896 161,471 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 0 281 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 Feb 17, 2021 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 0 Commercial Paper Funding Facility II LLC 14,018 Corporate Credit Facilities LLC 16,524 MS Facilities LLC (Main Street Lending Program) 6,203 Municipal Liquidity Facility LLC 3,382 TALF II LLC Note: Components may not sum to totals because of rounding. Credit Facilities LLCs: Outstanding amount of facility asset purchases2 0 14,115 16,453 6,203 2,593 Treasury contributions and other assets3 8,556 12,125 16,812 5,335 3,812 Total 8,556 26,240 33,265 11,538 6,405 1. Book value. This amount was eliminated when preparing the Federal Reserve Banks’ statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity. 2. Outstanding amount of facility asset purchases: a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value. b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances from trading activity are reported on a one-day lag after the transaction date. c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations, net of an allowance for loan losses updated as of September 30, 2020, at face value. d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on a one-day lag after the transaction date. e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. 3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6. H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars 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 Feb 17, 2021 11,037 5,200 1,562 (0) Change since Wednesday Wednesday Feb 10, 2021 Feb 19, 2020 - 0 0 3 - 0 0 212 7,394,483 6,996,966 4,824,057 326,044 4,134,243 320,422 43,348 2,347 2,170,562 349,725 -6,728 500 54,019 + + + + + + 130,548 125,928 25,156 0 25,071 0 85 0 100,772 3,514 236 300 1,641 8,556 26,240 - 2 34 + + 8,556 26,240 33,265 11,538 6,405 69 2,044 8,165 21,847 26,992 + - 56 2 0 34 166 298 196 14,584 + + + + + + 33,265 11,538 6,405 2 155 8,098 1,735 9,974 + 115,177 (0) 7,557,402 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + +3,280,391 +3,157,147 +2,372,369 + 60,505 +2,104,565 + 189,370 + 17,929 0 + 784,778 + 225,859 + 6,771 - 163,400 + 54,014 +3,385,832 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 Feb 17, 2021 Change since Wednesday Wednesday Feb 10, 2021 Feb 19, 2020 2,053,339 201,719 5,201,005 0 3,407,871 1,568,893 23,052 201,188 181 51,778 10,182 + + - 1,564 10,312 127,254 0 109,232 7,851 931 24,940 10 0 3,354 + 301,749 25,245 +3,051,801 0 +1,748,850 +1,147,842 + 17,865 + 137,243 6 + 51,778 + 5,103 7,518,205 + 115,162 +3,385,180 32,412 6,785 0 + 16 0 0 + - 692 40 0 39,197 + 16 + 652 + + + + 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. Also includes net portfolio holdings of Maiden Lane LLC. 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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion. Includes the liability for earnings remittances due to the U.S. Treasury. H.4.1 6. Statement of Condition of Each Federal Reserve Bank, February 17, 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 Commercial Paper Funding Facility II LLC2 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 1,562 533 34 5,483 42 529 130 761 74 1,165 211 2,183 153 1,137 259 479 32 270 44 450 105 1,202 184 2,045 294 7,394,483 168,412 3,810,441 172,521 231,232 462,993 542,826 411,414 117,324 77,703 120,643 355,398 923,576 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0 26,240 0 26,240 0 0 0 0 0 0 0 0 0 0 33,265 33,265 0 0 0 0 0 0 0 0 0 0 0 11,538 6,405 8,165 0 0 388 11,538 6,405 2,744 0 0 294 0 0 698 0 0 1,723 0 0 405 0 0 317 0 0 134 0 0 64 0 0 86 0 0 97 0 0 1,216 21,847 29,105 0 - 1,037 2,232 41,498 + 7,344 12,267 359,597 + 786 745 14,266 + 1,867 981 62,199 - 7,557,402 164,403 4,250,657 189,271 297,811 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,610 2,123 1,325 471,501 1,083 2,215 133,077 415,788 848 1,646 2,867 412,754 358 617 17,146 101,797 171 403 14,860 63,796 230 785 20,516 101,783 259 1,581 47,946 310,776 3,252 3,509 156,828 777,066 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, February 17, 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 2,053,339 201,719 5,201,005 61,644 4,530 77,764 672,868 104,442 3,422,580 55,600 4,602 127,328 95,219 6,311 192,512 155,405 12,643 294,428 283,063 14,866 115,200 132,632 11,267 266,617 58,976 3,187 38,623 33,453 1,906 27,754 54,367 3,208 43,490 176,742 9,722 123,034 273,369 25,036 471,676 3,407,871 1,568,893 23,052 201,188 77,747 0 2 15 1,779,731 1,568,893 23,026 50,930 127,326 0 1 0 192,469 0 3 39 293,812 0 8 607 115,111 0 2 86 122,331 0 2 144,284 38,617 0 1 5 27,673 0 0 81 42,858 0 0 632 118,547 0 0 4,487 471,649 0 6 21 1,784 30 991 35 43 77 136 100 26 14 19 94 218 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0 8,579 585 2,907 298 340 802 748 603 240 323 272 465 996 7,518,205 162,625 4,237,493 187,864 294,425 463,355 414,013 411,219 101,052 63,451 101,356 310,058 771,295 32,412 6,785 0 1,470 308 0 10,883 2,280 0 1,163 244 0 2,800 587 0 6,734 1,412 0 1,468 307 0 1,269 266 0 616 129 0 287 58 0 354 73 0 596 122 0 4,771 999 0 7,557,402 164,403 4,250,657 189,271 297,811 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 471,501 415,788 412,754 101,797 63,796 101,783 310,776 777,066 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, February 17, 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, 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 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. 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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the FRBB. The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5). H.4.1 7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts Millions of dollars 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 Feb 17, 2021 2,215,334 161,995 2,053,339 2,053,339 11,037 5,200 2,037,102 0 6,997,466 194,269 6,803,198
@FedFRASER