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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 January 20, 2022 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 Jan 19, 2022 8,825,644 8,376,336 5,692,288 326,044 4,906,950 385,508 73,786 2,347 2,681,701 353,274 -18,481 0 0 0 32,075 474 0 0 0 0 31,601 0 Averages of daily figures Change from week ended Jan 12, 2022 Jan 20, 2021 + + + + + + + - + - 0 0 29,286 7,867 2,601 -147 266 42,566 20,476 11,041 5,200 50,970 + + + + 88,586 86,273 20,133 0 22,404 2,275 4 0 66,139 484 388 0 0 0 1,067 81 0 0 0 0 1,147 0 +1,453,669 +1,533,864 + 959,598 0 + 857,194 + 71,620 + 30,785 0 + 574,266 + 7,575 12,467 1,000 1,000 0 19,616 1,221 0 0 485 1,916 15,994 0 Wednesday Jan 19, 2022 8,829,738 8,381,950 5,693,341 326,044 4,915,211 379,498 72,589 2,347 2,686,262 353,102 -18,737 1 1 0 31,607 469 0 0 0 0 31,138 0 0 0 - 8,557 26,310 0 0 130 2 0 18 98 3,526 141 0 0 14 + - 3,996 3,738 4,076 57 10,643 2,689 1,628 0 0 504 28,936 7,868 2,601 -143 266 42,286 20,402 11,041 5,200 50,970 +1,452,546 8,917,351 8,913,331 + 88,741 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 Jan 19, 2022 Averages of daily figures Change from week ended Jan 12, 2022 Jan 20, 2021 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 2,232,505 1,926,774 314,488 1,612,286 64 748,958 0 488,697 5,672 254,589 21,258 51,252 + + + + + 2,110 84,694 4,589 80,106 1 44,427 0 32,296 506 12,637 0 2,765 Total factors, other than reserve balances, absorbing reserve funds 4,980,810 + 3,932,521 - 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 Jan 19, 2022 + 137,518 +1,716,924 + 104,982 +1,611,942 + 28 -1,149,310 0 -1,138,209 16,396 + 5,295 30,520 + 11 2,232,997 1,963,799 307,223 1,656,576 25 830,057 0 580,171 7,407 242,478 21,258 47,473 129,774 + 674,649 5,095,608 41,033 + 777,897 3,821,743 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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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 Jan 19, 2022 3,446,882 3,037,473 327,462 81,947 42,141 42,141 42,141 0 Averages of daily figures Change from week ended Jan 12, 2022 Jan 20, 2021 + + + + + + + 13,302 2,874 10,024 404 3,266 3,266 3,266 0 + + + 94,431 62,921 25,103 6,407 12,686 12,686 12,686 0 Wednesday Jan 19, 2022 3,453,991 3,044,251 327,465 82,275 38,777 38,777 38,777 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, January 19, 2022 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 231 1 Federal agency debt securities3 Holdings Weekly changes + 94,164 16,829 2. 3. 4. 5. 6. 7. 8. 9. Over 5 year to 10 years 1,066 29,885 0 722,254 5,732 2,182,881 + 17,616 1,012,038 15,258 0 0 0 0 0 0 2,134 0 1 0 34 0 0 0 15,356 ... ... 15,356 451 0 0 50 0 0 0 0 ... 0 ... 0 2,907 1,345 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 3,649 1,345 1 266 1,963,799 0 91 days to 1 year 425 - 319,379 10,307 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 291 Liquidity Facility LLC6 0 Loans held by TALF II LLC7 1 Repurchase agreements8 216 Central bank liquidity swaps9 1,963,799 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 - - 1,997 12 - 60,901 548 Over 10 years All ... 1,362,625 5,455 + 31,607 5,693,341 8,604 + 213 0 2,623,330 71,255 + 2,347 0 2,686,262 70,695 + Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with consolidation under generally accepted accounting principles. 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 Account name Wednesday Jan 19, 2022 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,686,262 2,677,064 9,198 69,032 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 0 452 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 Jan 19, 2022 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 15,011 MS Facilities LLC (Main Street Lending Program) 4,131 Municipal Liquidity Facility LLC 1,405 TALF II LLC Note: Components may not sum to totals because of rounding. Credit Facilities LLCs: 1. 2. 3. Outstanding amount of facility asset purchases2 13,030 3,649 1,345 Treasury contributions and other assets3 15,907 4,219 1,257 Total 28,936 7,868 2,601 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. Outstanding amount of facility asset purchases: a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses updated as of September 30, 2021. b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on a one-day lag after the transaction date. c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6. H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars 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 Change since Wednesday Wednesday Jan 12, 2022 Jan 20, 2021 Wednesday Jan 19, 2022 11,037 5,200 1,233 8,747,923 8,381,950 5,693,341 326,044 4,915,211 379,498 72,589 2,347 2,686,262 353,102 -18,737 1 31,607 + + + + + + + - 0 0 (0) 28,936 7,868 2,601 81 1,417 266 20,402 40,869 (0) 8,867,834 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 5 78,172 79,299 8,604 0 18,405 8,413 1,387 0 70,695 432 477 0 1,081 - 0 0 341 +1,509,878 +1,536,202 + 949,789 0 + 853,780 + 66,280 + 29,730 0 + 586,413 + 7,598 12,682 999 20,241 0 0 - 8,557 26,311 + + + 487 2 0 10 9 98 60 2,000 + 4,354 3,740 4,077 21 793 10,643 1,716 3,566 + 79,556 + +1,452,892 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 Jan 19, 2022 Change since Wednesday Wednesday Jan 12, 2022 Jan 20, 2021 2,183,281 1,963,799 4,651,800 0 3,821,743 580,171 7,407 242,478 224 21,258 6,974 + - - 19 101,754 21,282 0 107,190 90,492 2,217 6,802 43 0 940 + 134,631 +1,757,167 - 407,681 0 + 671,936 -1,058,160 16,060 5,397 + 36 30,520 2,033 8,827,335 + 79,554 +1,451,598 33,714 6,785 0 + 2 0 0 + - 1,334 40 0 40,499 + 2 + 1,294 + + + 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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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, January 19, 2022 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 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 1,233 531 15 5,422 24 523 111 752 47 1,187 178 2,188 112 1,136 228 475 18 273 34 455 88 1,220 155 2,075 225 8,747,923 145,732 4,931,340 184,165 322,846 584,566 510,818 475,807 113,980 79,012 116,169 385,628 897,860 28,936 28,936 0 0 0 0 0 0 0 0 0 0 0 7,868 2,601 266 0 0 12 7,868 2,601 89 0 0 10 0 0 23 0 0 55 0 0 12 0 0 10 0 0 5 0 0 2 0 0 3 0 0 5 0 0 39 20,402 42,367 0 + 926 809 10,686 - 6,858 22,456 318,572 + 733 997 2,136 + 1,764 1,605 1,474 + 8,867,834 187,647 4,658,085 188,675 328,511 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,245 3,162 6,774 + 600,169 923 2,612 61,771 + 578,435 799 2,345 85,860 + 566,186 388 704 24,809 + 140,379 173 495 405 + 80,395 221 875 22,820 + 140,631 368 1,982 58,779 + 448,137 3,004 4,323 43,058 950,584 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, January 19, 2022 (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 2,183,281 1,963,799 4,651,800 72,832 32,817 66,047 701,866 1,110,049 2,822,884 61,551 41,477 83,864 102,718 71,455 150,067 153,731 131,590 305,705 326,050 115,063 135,096 121,650 107,165 335,211 64,405 25,603 49,338 33,182 15,195 31,586 56,559 26,078 57,324 191,047 86,842 168,844 297,691 200,465 445,836 3,821,743 580,171 7,407 242,478 66,030 0 2 15 2,184,674 580,171 7,380 50,657 83,862 0 1 0 150,020 0 3 44 305,227 0 8 469 134,963 0 2 132 145,357 0 2 189,852 49,330 0 1 7 31,333 0 0 252 56,709 0 0 614 168,467 0 1 376 445,770 0 6 61 2,741 46 1,597 59 94 160 170 144 31 25 25 130 258 21,258 15,674 5,584 0 0 0 0 0 0 0 0 0 0 4,457 -1,542 2,028 236 278 778 656 466 191 178 224 337 627 8,827,335 185,874 4,644,008 187,187 324,613 591,964 577,035 564,636 139,567 80,166 140,209 447,199 944,877 33,714 6,785 0 1,465 308 0 11,797 2,280 0 1,244 244 0 3,311 587 0 6,793 1,412 0 1,093 307 0 1,285 266 0 682 129 0 171 58 0 348 73 0 816 122 0 4,708 999 0 8,867,834 187,647 4,658,085 188,675 328,511 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 600,169 578,435 566,186 140,379 80,395 140,631 448,137 950,584 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, January 19, 2022 (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 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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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 Jan 19, 2022 2,449,093 265,812 2,183,281 2,183,281 11,037 5,200 2,167,044 0 8,381,952 1,949,117 6,432,834