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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 28, 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 Jan 27, 2021 7,384,854 6,856,549 4,754,809 326,044 4,070,251 315,619 42,895 2,347 2,099,392 345,682 -6,149 1,000 1,000 0 51,420 2,029 0 0 485 1,905 47,001 0 Averages of daily figures Change from week ended Jan 20, 2021 Jan 29, 2020 + + + + + - + - 8,557 26,310 33,292 11,608 6,678 -154 9,781 40,282 22,144 11,041 5,200 50,577 + + + + + + 12,879 14,077 22,119 0 20,495 1,731 106 0 8,043 17 135 0 0 0 271 334 0 0 0 11 594 0 +3,269,646 +3,063,065 +2,357,454 + 103,154 +2,049,246 + 187,614 + 17,440 0 + 705,611 + 221,952 + 7,145 - 181,311 + 1,000 - 182,311 + 51,414 + 2,023 0 0 + 485 + 1,905 + 47,001 0 Wednesday Jan 27, 2021 7,364,432 6,838,223 4,766,107 326,044 4,081,568 315,619 42,876 2,347 2,069,769 344,999 -6,169 1,000 1,000 0 51,098 1,989 0 0 485 1,905 46,718 0 0 0 + + 8,557 26,310 8,558 26,300 10 3 1 64 1,128 405 40 0 0 14 + + + + + + + 33,292 11,608 6,678 31 9,730 11,178 1,632 0 0 477 33,301 11,611 6,678 -545 9,567 39,813 22,060 11,041 5,200 50,577 +3,271,756 7,453,310 7,473,816 + 12,933 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 27, 2021 Averages of daily figures Change from week ended Jan 20, 2021 Jan 29, 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 2,097,171 207,383 206,500 883 43 1,904,558 0 1,633,540 21,957 249,062 51,778 49,874 + + + + 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 Jan 27, 2021 - 2,086 2,467 3,006 539 7 6,290 0 6,634 111 232 0 1,367 + 304,995 28,240 27,236 1,004 165 +1,391,452 0 +1,201,479 + 16,777 + 173,198 + 51,778 + 5,268 2,097,472 210,578 209,426 1,152 48 1,816,435 0 1,613,377 21,836 181,223 51,778 48,247 4,310,808 + 4,549 +1,725,089 4,224,559 3,163,008 + 8,384 +1,546,666 3,228,751 + - 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 Jan 27, 2021 3,532,932 3,082,293 361,977 88,661 30,212 30,212 30,212 0 Averages of daily figures Change from week ended Jan 20, 2021 Jan 29, 2020 + + + + + 8,381 18,101 9,412 307 757 757 757 0 + + + + + + 98,559 96,809 3,230 4,980 1,514 1,514 1,514 0 Wednesday Jan 27, 2021 3,533,679 3,085,902 359,146 88,632 36,524 36,524 36,524 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 27, 2021 Millions of dollars Within 15 days Remaining Maturity 1,453 Loans1 U.S. Treasury securities2 Holdings Weekly changes Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days - 88,243 3,042 0 0 2,927 + 307,379 5,325 - 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 1,000 0 Repurchase agreements9 1,630 7,937 Central bank liquidity swaps10 210,578 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 46,718 0 648,172 2,288 1,815,819 + 12,202 0 0 0 0 91 days to 1 year - 4 1 - 2,000 96 + 834,222 8,072 Over 10 years ... + 1,818 0 - 69,988 1,555 All 1,072,272 2,286 51,098 + 529 0 - 1,997,776 28,428 4,766,107 22,555 2,347 0 - 2,069,769 30,080 0 ... ... ... 0 0 16,544 ... ... 16,544 845 0 ... 0 ... 0 5,358 3,343 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 6,203 3,343 1,000 9,567 210,578 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 Jan 27, 2021 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,069,769 2,059,890 9,878 181,960 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 0 18 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 27, 2021 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 0 Commercial Paper Funding Facility II LLC 14,058 Corporate Credit Facilities LLC 16,585 MS Facilities LLC (Main Street Lending Program) 6,283 Municipal Liquidity Facility LLC 3,656 TALF II LLC Note: Components may not sum to totals because of rounding. Credit Facilities LLCs: Outstanding amount of facility asset purchases2 0 14,212 16,448 6,203 3,343 Treasury contributions and other assets3 8,558 12,088 16,853 5,408 3,335 Total 8,558 26,300 33,301 11,611 6,678 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 Jan 27, 2021 11,037 5,200 1,578 (0) Change since Wednesday Wednesday Jan 20, 2021 Jan 29, 2020 + 0 0 4 - 0 0 189 7,229,151 6,838,223 4,766,107 326,044 4,081,568 315,619 42,876 2,347 2,069,769 344,999 -6,169 1,000 51,098 + - 8,894 7,525 22,555 0 20,137 2,401 17 0 30,080 505 114 0 750 8,558 26,300 + - 1 11 + + 8,558 26,300 33,301 11,611 6,678 74 2,213 9,567 22,060 37,599 + + + + 11 3 0 28 3 1,342 58 296 + + + + + + + + 33,301 11,611 6,678 20 3 9,516 1,561 10,910 - 10,016 (0) 7,404,926 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + + - +3,145,028 +3,039,480 +2,356,999 + 93,510 +2,058,447 + 187,614 + 17,428 0 + 682,481 + 221,472 + 7,137 - 174,125 + 51,064 +3,253,296 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 27, 2021 Change since Wednesday Wednesday Jan 20, 2021 Jan 29, 2020 2,048,517 210,578 5,045,187 0 3,228,751 1,613,377 21,836 181,223 619 51,778 9,042 + - + 133 3,946 14,294 0 78,944 24,954 1,631 66,652 431 0 35 + 303,920 22,826 +2,916,423 0 +1,616,528 +1,162,840 + 16,655 + 120,400 110 + 51,778 + 3,429 7,365,721 - 10,016 +3,252,613 + + 32,380 6,825 0 0 0 0 + 683 0 0 39,205 0 + 683 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, January 27, 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 1,578 533 33 5,483 41 529 135 761 75 1,165 210 2,183 156 1,137 263 479 32 270 43 450 106 1,202 191 2,045 295 7,229,151 164,206 3,725,481 169,082 225,975 452,798 530,737 402,568 114,668 75,596 118,336 347,677 902,029 8,558 0 8,558 0 0 0 0 0 0 0 0 0 0 26,300 0 26,300 0 0 0 0 0 0 0 0 0 0 33,301 33,301 0 0 0 0 0 0 0 0 0 0 0 11,611 6,678 9,567 0 0 454 11,611 6,678 3,215 0 0 344 0 0 818 0 0 2,019 0 0 474 0 0 372 0 0 157 0 0 75 0 0 101 0 0 114 0 0 1,424 7,415 17,828 295,969 + 794 992 9,892 + 22,060 39,887 0 - 1,047 2,474 41,205 + 1,885 1,313 61,224 + 7,404,926 160,843 4,108,578 181,767 292,050 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,656 2,783 46,136 509,766 1,094 3,014 126,949 + 410,709 857 2,254 4,382 411,832 362 766 17,021 99,442 173 510 8,860 67,807 233 948 19,054 101,120 262 2,164 36,430 315,179 3,284 4,841 168,085 745,834 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, January 27, 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 2,048,517 210,578 5,045,187 61,749 4,729 73,942 674,079 109,028 3,275,242 55,722 4,804 119,525 93,507 6,588 188,215 154,929 13,198 332,580 281,967 15,519 110,675 132,619 11,762 265,282 59,162 3,327 35,998 33,363 1,990 31,360 55,043 3,349 42,024 175,713 10,149 128,136 270,664 26,135 442,207 3,228,751 1,613,377 21,836 181,223 73,922 0 2 19 1,586,839 1,613,377 21,809 53,217 119,524 0 1 0 188,174 0 3 37 332,097 0 8 474 110,591 0 2 82 139,058 0 2 126,223 35,996 0 1 1 31,296 0 0 63 41,869 0 0 154 127,203 0 0 932 442,181 0 6 20 64 -3 149 0 -2 68 13 13 -33 -147 -19 1 24 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0 9,597 573 3,200 308 352 832 760 620 241 907 300 475 1,028 7,365,721 159,063 4,095,404 180,359 288,660 501,607 408,934 410,296 98,696 67,473 100,695 314,473 740,059 32,380 6,825 0 1,470 310 0 10,880 2,294 0 1,163 245 0 2,800 590 0 6,739 1,420 0 1,467 309 0 1,269 267 0 616 130 0 275 58 0 350 74 0 584 123 0 4,769 1,005 0 7,404,926 160,843 4,108,578 181,767 292,050 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 509,766 410,709 411,832 99,442 67,807 101,120 315,179 745,834 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 27, 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 a $6.825 billion surplus. 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 Jan 27, 2021 2,205,950 157,433 2,048,517 2,048,517 11,037 5,200 2,032,280 0 6,839,223 199,981 6,639,242
@FedFRASER