The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release For Release at 4:30 P.M. EDT February 25, 2021 In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was estimated based upon the Main Street Lending Program holdings as of December 31, 2020 and does not indicate actual losses experienced by the program. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 25, 2021 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars 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 24, 2021 Averages of daily figures Change from week ended Feb 17, 2021 Feb 26, 2020 7,551,414 7,028,677 4,835,147 326,044 4,143,654 321,966 43,483 2,347 2,191,183 350,809 -6,747 500 500 0 55,409 2,031 0 0 265 1,715 51,397 0 + + + 8,556 26,233 - 1 36 + + 8,556 26,233 8,556 26,194 32,935 11,539 6,406 -18 6,765 30,350 21,969 11,041 5,200 50,553 + + + - 335 3 1 52 1,400 10,522 8 0 0 14 + + + + + + + 32,935 11,539 6,406 165 6,720 11,148 1,793 0 0 417 30,958 11,541 6,406 449 6,765 30,927 21,947 11,041 5,200 50,553 +3,434,132 7,638,852 + + + + + + + + + 39,000 47,838 23,003 0 21,299 1,544 161 0 24,835 1,451 215 214 214 0 2,378 264 0 0 0 14 2,127 0 7,640,177 + 39,006 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. +3,431,923 +3,182,111 +2,369,934 + 49,789 +2,111,146 + 190,914 + 18,085 0 + 812,176 + 227,301 + 6,745 - 143,343 + 500 - 143,843 + 55,407 + 2,029 0 0 + 265 + 1,715 + 51,397 0 Wednesday Feb 24, 2021 + 7,550,111 7,027,599 4,844,574 326,044 4,150,779 324,023 43,728 2,347 2,180,678 350,667 -6,772 500 500 0 56,321 2,092 0 0 265 1,630 52,334 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 24, 2021 Averages of daily figures Change from week ended Feb 17, 2021 Feb 26, 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 2,102,167 203,513 203,293 220 79 1,863,212 0 1,529,977 22,090 311,145 51,778 50,407 + + + + 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 24, 2021 - 93 1,550 1,747 196 7 53,186 0 37,064 212 90,462 0 2,843 + 303,271 18,234 15,568 2,666 193 +1,349,047 0 +1,090,612 + 16,903 + 241,532 + 51,778 + 5,911 2,102,634 205,373 205,372 1 84 1,849,096 0 1,439,646 22,393 387,057 51,778 45,703 4,271,157 + 48,893 +1,691,581 4,254,669 3,369,020 - 9,887 +1,742,551 3,384,183 + 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 24, 2021 3,546,870 3,095,073 361,796 90,001 30,463 30,463 30,463 0 Averages of daily figures Change from week ended Feb 17, 2021 Feb 26, 2020 + + + + + 2,864 4,809 1,447 498 3,648 3,648 3,648 0 + + + + + + 86,545 94,735 16,161 7,972 1,144 1,144 1,144 0 Wednesday Feb 24, 2021 3,546,829 3,099,885 357,064 89,881 28,437 28,437 28,437 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 24, 2021 Millions of dollars Within 15 days Remaining Maturity 2,302 Loans1 U.S. Treasury securities2 Holdings Weekly changes Federal agency debt securities3 Holdings Weekly changes - 96,560 3,876 Over 1 year to 5 years Over 5 year to 10 years 0 52,326 8 630,641 4,321 1,833,210 + 11,222 0 0 0 0 0 0 0 0 6 0 2,109 0 0 0 ... ... ... 0 0 0 16,548 ... ... 16,548 0 0 0 937 0 0 845 0 ... 0 ... 0 5,358 2,593 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 6,203 2,593 500 6,765 205,373 0 16 days to 90 days 91 days to 1 year 1,686 + 335,070 8,205 0 0 Mortgage-backed securities4 0 Holdings 0 Weekly changes Commercial paper held by Commercial 0 Paper Funding Facility II LLC5 Loan participations held by MS Facilities LLC (Main Street Lending 0 Program)6 Municipal notes held by Municipal 0 Liquidity Facility LLC7 0 Loans held by TALF II LLC8 500 Repurchase agreements9 5,828 Central bank liquidity swaps10 205,373 Reverse repurchase agreements9 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. - + 858,715 6,968 Over 10 years ... + 1,818 0 + 72,009 2 All 1,090,379 2,320 56,321 + 529 0 + 2,106,554 10,114 4,844,574 20,517 2,347 0 + 2,180,678 10,116 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 24, 2021 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,180,678 2,170,782 9,896 165,011 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 0 57 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 24, 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 14,058 14,135 6,203 2,593 Treasury contributions and other assets3 8,556 12,136 16,823 5,338 3,813 Total 8,556 26,194 30,958 11,541 6,406 1. Book value. This amount was eliminated when preparing the Federal Reserve Banks’ statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity. 2. Outstanding amount of facility asset purchases: a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value. b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances from trading activity are reported on a one-day lag after the transaction date. c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations, net of an allowance for loan losses updated as of December 31, 2020, at face value. d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on a one-day lag after the transaction date. e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. 3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6. H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars 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 24, 2021 11,037 5,200 1,551 7,428,315 7,027,599 4,844,574 326,044 4,150,779 324,023 43,728 2,347 2,180,678 350,667 -6,772 500 56,321 (0) Change since Wednesday Wednesday Feb 17, 2021 Feb 26, 2020 - - 0 0 219 + 33,832 30,633 20,517 0 16,536 3,601 380 0 10,116 942 44 0 2,302 8,556 26,194 - 0 46 + + 8,556 26,194 30,958 11,541 6,406 636 1,968 6,765 21,947 29,039 + + + + + 2,307 3 1 567 76 1,400 100 2,047 + + + + + + + 30,958 11,541 6,406 589 234 6,721 1,672 12,536 + 32,709 (0) 7,590,111 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + + 0 0 11 + + + + + - +3,326,756 +3,179,349 +2,370,514 + 45,503 +2,113,697 + 192,971 + 18,343 0 + 808,835 + 227,364 + 6,675 - 142,940 + 56,308 +3,431,474 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 24, 2021 Change since Wednesday Wednesday Feb 17, 2021 Feb 26, 2020 2,053,711 205,373 5,233,359 0 3,384,262 1,439,646 22,393 387,057 186 51,778 6,509 + + + - 372 3,654 32,354 0 23,609 129,247 659 185,869 5 0 3,673 + 301,802 14,595 +3,091,371 0 +1,704,192 +1,052,031 + 17,207 + 317,940 452 + 51,778 + 926 7,550,917 + 32,712 +3,430,831 32,410 6,785 0 - 2 0 0 + - 684 40 0 39,195 - 2 + 644 + + 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 24, 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 1,551 533 35 5,483 42 529 127 761 73 1,165 211 2,183 152 1,137 256 479 29 270 45 450 106 1,202 175 2,045 301 7,428,315 169,585 3,827,282 173,179 232,265 465,011 545,273 413,452 117,848 78,226 121,138 356,945 928,111 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0 26,194 0 26,194 0 0 0 0 0 0 0 0 0 0 30,958 30,958 0 0 0 0 0 0 0 0 0 0 0 11,541 6,406 6,765 0 0 321 11,541 6,406 2,273 0 0 243 0 0 578 0 0 1,428 0 0 336 0 0 263 0 0 111 0 0 53 0 0 71 0 0 80 0 0 1,007 21,947 31,643 0 - 1,042 2,271 50,682 + 7,377 13,132 400,057 + 790 791 14,587 + 1,875 1,020 54,029 - 7,590,111 154,062 4,308,343 190,247 290,601 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,632 2,219 8,987 465,679 1,088 2,908 137,180 + 414,760 852 1,747 827 418,534 360 822 18,951 100,697 172 420 13,541 65,645 231 782 19,853 102,927 261 1,798 58,946 301,515 3,267 3,732 161,362 777,101 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, February 24, 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 2,053,711 205,373 5,233,359 61,503 4,612 69,793 672,896 106,334 3,479,477 55,325 4,686 128,502 95,698 6,425 184,712 155,307 12,872 288,433 283,048 15,135 113,999 132,038 11,471 272,832 59,188 3,245 37,278 33,390 1,941 29,609 54,233 3,266 44,716 178,186 9,898 112,201 272,901 25,489 471,806 3,384,262 1,439,646 22,393 387,057 69,778 0 2 13 1,783,124 1,439,646 22,366 234,341 128,500 0 1 0 184,670 0 3 39 287,482 0 8 942 113,916 0 2 81 123,532 0 2 149,299 37,274 0 1 3 29,555 0 0 53 44,158 0 0 558 110,494 0 0 1,707 471,779 0 6 21 1,487 30 785 31 47 119 105 76 9 9 17 68 190 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0 5,209 -1,726 1,981 298 332 803 698 584 235 351 266 445 944 7,550,917 152,284 4,295,180 188,840 287,215 457,533 412,985 417,001 99,954 65,298 102,499 300,797 771,331 32,410 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 1,467 307 0 1,268 266 0 614 129 0 288 58 0 355 73 0 596 122 0 4,771 999 0 7,590,111 154,062 4,308,343 190,247 290,601 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 465,679 414,760 418,534 100,697 65,645 102,927 301,515 777,101 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 24, 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 24, 2021 2,219,385 165,674 2,053,711 2,053,711 11,037 5,200 2,037,474 0 7,028,099 198,466 6,829,633
@FedFRASER