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FEDERAL RESERVE statistical release
For Release at
4:30 P.M. Eastern time
January 7, 2021
The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository
Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the
Federal Reserve’s return of a portion of Treasury’s equity investment in the Corporate Credit
Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC, which occurred on January
5, 2021. Footnote 14 in Factors Affecting Reserve Balances of Depository Institutions (table 1)
and Consolidated Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9
in Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

FEDERAL RESERVE statistical release
H.4.1

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

January 7, 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 6, 2021
7,306,876
6,733,491
4,691,676
326,044
4,007,673
314,307
43,652
2,347
2,039,468
342,899
-5,530
1,000
1,000
0
55,466
1,577
0
0
485
3,264
50,140
0
8,557
37,911
54,119
17,164
9,818
-372
17,744
34,608
22,315
11,041
5,200
50,535

Averages of daily figures
Change from week ended
Dec 30, 2020
Jan 8, 2020
+
+
+
+
-

-

-

+
+
+

+

43,534
24,170
2,770
0
480
2,283
8
0
26,941
1,236
91
0
0
0
1,511
208
0
0
0
609
694
0

+3,178,548
+2,986,806
+2,356,014
+ 152,233
+1,998,667
+ 186,923
+
18,192
0
+ 630,791
+ 218,423
+
7,710
- 239,958
+
1,000
- 240,958
+
55,461
+
1,574
0
2
+
485
+
3,264
+
50,140
0

Wednesday
Jan 6, 2021
7,294,489
6,741,237
4,699,421
326,044
4,015,445
314,307
43,625
2,347
2,039,469
342,993
-5,544
1,000
1,000
0
54,216
1,485
0
0
485
2,496
49,750
0

0
8,544

+
+

8,557
37,911

8,557
26,371

602
4,111
2,845
180
761
2,208
77
0
0
14

+
+
+
+
+
+

54,119
17,164
9,818
170
14,016
8,692
1,565
0
0
457

54,155
11,680
6,676
-112
16,911
36,349
22,340
11,041
5,200
50,535

+3,180,568

7,383,606

7,395,966
43,445
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 6, 2021

Averages of daily figures
Change from week ended
Dec 30, 2020
Jan 8, 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

2,090,492
212,779
207,263
5,516
28
1,872,318
0
1,669,327
21,839
181,152
102,202
49,864

+
+
+
+
+

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 6, 2021

+
+
-

8,952
7,762
2,510
5,252
2
6,062
0
78,272
9
72,220
11,798
548

+ 285,527
65,672
68,023
+
2,351
144
+1,437,763
0
+1,302,325
+
16,657
+ 118,781
+ 102,202
+
6,696

2,092,385
206,335
206,331
4
32
1,797,467
0
1,607,396
21,839
168,232
72,706
50,903

4,327,682

+

10,428

+1,766,370

4,219,828

3,068,284

-

53,872

+1,414,198

3,163,778

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 $37.5 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 6, 2021
3,489,119
3,047,931
354,608
86,579
31,305
31,305
31,305
0

Averages of daily figures
Change from week ended
Dec 30, 2020
Jan 8, 2020
+
+
+
+

1,459
1,293
2,751
2
2,178
2,178
2,178
0

+
+
+
-

81,254
81,592
4,268
3,929
3,034
3,034
3,034
0

Wednesday
Jan 6, 2021
3,500,716
3,059,580
354,551
86,585
30,324
30,324
30,324
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 6, 2021
Millions of dollars
Within 15
days

Remaining Maturity

1,559

Loans1
U.S. Treasury securities2
Holdings
Weekly changes
Federal agency debt securities3
Holdings
Weekly changes

16 days to
90 days

-

65,582
28,344
0
0

2,707

+

320,631
24,848

-

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
7,307
9,604
Central bank liquidity swaps10
206,335
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

200

49,750

0

647,973
1,838

1,768,527
+
1,504

0
0

0
0

91 days to
1 year

+

5
1

+

2,096
80

+

836,876
8,962

Over 10
years
...

+

1,818
0

+

72,097
52

All

1,059,832
5,374

54,216

+

529
0

-

1,965,271
133

4,699,421
10,505
2,347
0

+

2,039,469
1

0

...

...

...

0

0

16,552

...

...

16,552

925
0
...
0
...
0

5,358
3,552
...
0
...
...

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

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

6,283
3,552
1,000
16,911
206,335
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 6, 2021

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

2,039,469
2,029,629
9,840
220,868

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

8,084

2
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 6, 2021
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal
amount
of loan
extended to
the LLC1
0
Commercial Paper Funding Facility II LLC
14,138
Corporate Credit Facilities LLC
16,542
MS Facilities LLC (Main Street Lending Program)
6,361
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
14,248
16,456
6,283
3,552

Treasury
contributions
and
other assets3
8,557
12,123
37,699
5,397
3,124

Total
8,557
26,371
54,155
11,680
6,676

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 6, 2021
11,037
5,200
1,563
7,133,901
6,741,237
4,699,421
326,044
4,015,445
314,307
43,625
2,347
2,039,469
342,993
-5,544
1,000
54,216

(0)

Change since
Wednesday
Wednesday
Dec 30, 2020
Jan 8, 2020

+

-

0
0
114

-

7,976
10,506
10,505
0
8,252
2,283
29
0
1
70
114
0
2,485

+3,053,378
+2,982,499
+2,351,707
+ 141,517
+2,005,095
+ 186,923
+
18,172
0
+ 630,792
+ 218,519
+
7,734
- 209,587
+
54,214

8,557
26,371

-

0
20,161

+
+

8,557
26,371

54,155
11,680
6,676
65
2,207
16,911
22,340
34,143

+
+

82
9,598
5,988
17
15
972
89
237

+
+
+
+
+
+
+
+

54,155
11,680
6,676
9
9
13,183
1,708
9,650

-

28,542

(0)
7,334,809
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

+
+
+

0
0
1

+
+
+
+
-

+3,185,265

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 6, 2021

Change since
Wednesday
Wednesday
Dec 30, 2020
Jan 8, 2020

2,043,442
206,335
4,961,246
0
3,163,779
1,607,396
21,839
168,232
177
72,706
11,699

+
+
+
+
+

5,469
3,428
9,879
0
20,802
6,118
8
4,813
666
41,294
1,496

+ 289,332
68,588
+2,884,757
0
+1,507,150
+1,256,556
+
16,657
+ 104,393
2
+
72,706
+
6,380

7,295,604

-

28,546

+3,184,583

32,380
6,825
0

+

4
0
0

+

682
0
0

39,205

+

4

+

682

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 $37.5 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 6, 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
1,563

533
31

5,483
40

529
131

761
83

1,165
207

2,183
153

1,137
258

479
33

270
44

450
106

1,202
188

2,045
291

7,133,901

162,704

3,675,472

167,158

223,055

446,685

523,758

396,908

113,230

74,836

116,980

343,080

890,033

8,557

0

8,557

0

0

0

0

0

0

0

0

0

0

26,371

0

26,371

0

0

0

0

0

0

0

0

0

0

54,155

54,155

0

0

0

0

0

0

0

0

0

0

0

11,680
6,676
16,911

0
0
803

11,680
6,676
5,683

0
0
609

0
0
1,445

0
0
3,569

0
0
839

0
0
657

0
0
277

0
0
132

0
0
178

0
0
201

0
0
2,518

7,510
16,112
161,411 -

804
910
8,211 +

1,909
1,204
84,863 +

4,715
2,578
120,345 -

1,108
2,758
115,340 -

579,263

415,458

22,340
36,415
0 -

1,060
2,405
37,583 +

7,334,809
184,108 3,924,997
161,930
313,320
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

867
2,063
17,572 384,318

366
714
17,318 97,780

175
487
4,260 71,684

236
880
12,137 106,693

265
1,876
33,649 313,164

3,326
4,429
120,549
782,093

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, January 6, 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

2,043,442
206,335
4,961,246

62,143
4,634
75,977

675,231
106,831
3,090,479

56,350
4,707
99,146

93,648
6,456
209,441

152,766
12,932
404,483

280,935
15,206
116,637

132,638
11,525
237,945

59,194
3,260
34,345

33,454
1,950
35,629

55,231
3,281
47,487

173,546
9,944
128,465

268,305
25,609
481,212

3,163,779
1,607,396
21,839
168,232

75,959
0
2
15

1,405,035
1,607,396
21,813
56,236

99,145
0
1
0

209,403
0
3
34

403,478
0
8
996

116,552
0
2
83

129,493
0
2
108,451

34,343
0
1
1

35,562
0
0
66

46,105
0
0
1,381

127,518
0
0
946

481,185
0
6
21

1,784

34

949

38

53

97

136

98

27

15

27

88

221

72,706

39,000

33,706

0

0

0

0

0

0

0

0

0

0

10,092

527

4,627

280

340

806

738

579

227

308

244

456

960

7,295,604

182,314

3,911,823

160,522

309,937

571,084

413,653

382,785

97,053

71,356

106,271

312,500

776,308

32,380
6,825
0

1,470
324
0

10,880
2,294
0

1,163
246
0

2,800
583
0

6,739
1,441
0

1,467
338
0

1,269
265
0

616
112
0

275
53
0

350
72
0

583
81
0

4,769
1,016
0

7,334,809
184,108 3,924,997
161,930
313,320
Total liabilities and capital
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

579,263

415,458

384,318

97,780

71,684

106,693

313,164

782,093

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 6, 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 $37.5 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 6, 2021
2,194,521
151,080
2,043,442
2,043,442
11,037
5,200
2,027,205
0
6,742,237
198,875
6,543,361