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FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time June 11, 2020 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 include information related to Municipal Liquidity Facility LLC (MLF). The MLF LLC was introduced on the H.4.1 cover note on May 28, 2020 https://www.federalreserve.gov/releases/h41/20200528/. On June 2, 2020, the MLF LLC began purchasing eligible municipal notes and on June 5, 2020 settlement of the first purchase transactions occurred. The Federal Reserve Bank of New York extended credit to the MLF LLC under the authority of section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary, at settlement of the investment activity. Information on the lending was added to the note on consolidation. Municipal notes held by MLF LLC were added in the Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities (table 2). Additionally, the asset basis in table 2 for the “Commercial paper held by Commercial Paper Funding Facility II LLC” and “Loan participations held by MS Facilities LLC (Main Street Lending Programs)” was updated to reflect “Book value” for consistency with the presentation in tables 1, 4, and 5. Pursuant to the MS Facilities LLC (Main Street Lending Program) agreements, 85% of the Treasury's equity contributions were invested in nonmarketable Treasury securities and reported in “Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)” in tables 1, 4, and 5. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 11, 2020 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 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 Jun 10, 2020 Averages of daily figures Change from week ended Jun 3, 2020 Jun 12, 2019 7,113,208 5,981,133 4,143,191 326,044 3,520,488 260,151 36,508 2,347 1,835,595 306,110 -5,475 184,315 0 184,314 99,603 9,252 0 10 5,846 28,168 56,325 0 + + + 12,795 36,820 + + 1 1,248 + + 12,795 36,820 12,796 37,374 4,554 16,076 -185 446,259 31,204 20,852 11,041 5,200 50,359 + + + + + 4,554 3,155 395 985 1,763 117 0 0 14 + + + + - 4,554 16,076 10 446,237 7,958 75 0 0 446 31,875 16,077 -238 444,520 32,348 21,015 11,041 5,200 50,359 +3,303,518 7,217,611 + + + + + + + + + 12,024 21,024 20,750 0 19,064 1,957 271 0 273 1,095 12 15,399 0 15,400 4,838 4,479 0 5 64 3,493 3,063 0 7,200,660 + 12,155 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. +3,303,148 +2,313,487 +2,033,297 + 325,994 +1,550,218 + 143,635 + 13,451 0 + 280,190 + 173,862 + 7,501 + 184,315 0 + 184,314 + 99,554 + 9,250 0 37 + 5,846 + 28,168 + 56,325 0 Wednesday Jun 10, 2020 + 7,129,995 5,988,351 4,150,409 326,044 3,526,774 261,151 36,440 2,347 1,835,595 306,816 -5,452 167,300 0 167,300 98,227 8,427 0 11 5,829 26,977 56,983 0 H.4.1 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks Week ended Jun 10, 2020 Averages of daily figures Change from week ended Jun 3, 2020 Jun 12, 2019 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 1,953,967 241,622 241,441 181 151 1,668,682 0 1,506,558 16,370 145,755 104,000 50,012 + + 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 Jun 10, 2020 + + + + 4,165 11,450 10,773 676 48 52,068 0 71,735 93 19,759 21,429 1,226 + 216,740 29,789 28,148 1,641 70 +1,412,586 0 +1,318,998 + 11,093 + 82,495 + 104,000 + 4,789 1,955,861 240,814 240,802 12 118 1,676,628 0 1,504,569 16,256 155,802 104,000 49,536 4,018,433 + 67,389 +1,708,254 4,026,957 3,182,228 - 55,233 +1,595,265 3,190,654 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 $37.5 billion, MS Facilities LLC of $37.5 billion, and Municipal Liquidity Facility LLC of $17.5 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 Jun 10, 2020 3,407,056 2,944,795 377,347 84,914 33,727 33,727 33,727 0 Averages of daily figures Change from week ended Jun 3, 2020 Jun 12, 2019 + + + + + + 17,281 17,512 14 245 3,348 3,348 3,348 0 + + + + + 54,057 106,699 44,417 8,224 2,463 2,463 2,463 0 Wednesday Jun 10, 2020 3,417,828 2,955,329 377,319 85,180 36,131 36,131 36,131 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, 4, and 5. 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, June 10, 2020 Millions of dollars Within 15 days Remaining Maturity 10,453 Loans1 U.S. Treasury securities2 Holdings Weekly changes Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days - 42,873 6,710 0 0 22,000 + 292,827 9,208 0 0 Mortgage-backed securities4 0 0 Holdings 0 0 Weekly changes Commercial paper held by Commercial 0 4,250 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 99,100 68,200 Repurchase agreements8 295,261 149,260 Central bank liquidity swaps9 240,814 0 Reverse repurchase agreements8 0 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 6. 7. 8. 9. Over 1 year to 5 years Over 5 year to 10 years 9,991 55,783 0 586,718 2,529 1,581,035 + 5,862 0 0 0 0 5 0 2,230 0 0 91 days to 1 year - + 725,316 5,923 Over 10 years All ... + 921,640 4,299 98,227 + 4,150,409 16,053 1,436 0 911 0 80,884 1 1,752,477 0 ... ... ... 4,250 0 0 ... ... 0 1,200 ... 0 ... 0 0 ... 0 ... ... ... ... 0 ... ... ... ... 0 ... ... 1,200 167,300 444,520 240,814 0 + 2,347 0 + 1,835,595 1 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, and Municipal Liquidity Facility 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 commercial paper held by Commercial Paper Funding Facility II LLC. 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. 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 Jun 10, 2020 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 1,835,595 1,826,490 9,106 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 170,590 5,620 148 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 4 and table 5. H.4.1 4. 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 Items in process of collection Bank premises Central bank liquidity swaps9 Foreign currency denominated assets10 Other assets11 Eliminations from consolidation Wednesday Jun 10, 2020 11,037 5,200 1,412 (0) Change since Wednesday Wednesday Jun 3, 2020 Jun 12, 2019 - 0 0 22 - 0 0 255 6,555,242 5,988,351 4,150,409 326,044 3,526,774 261,151 36,440 2,347 1,835,595 306,816 -5,452 167,300 98,227 + + + + + - 30,326 16,054 16,053 0 14,350 2,000 297 0 1 1,547 52 44,250 3,729 12,796 37,374 + + 1 1,220 + + 12,796 37,374 31,875 16,077 40 2,201 444,520 21,015 30,147 + + + + + 31,875 2 1 3 2,425 247 3,145 + + + + + + 31,875 16,077 3 9 444,498 104 8,249 + 3,719 (0) 7,168,936 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + - +2,768,257 +2,320,642 +2,040,452 + 325,994 +1,556,504 + 144,635 + 13,320 0 + 280,190 + 174,626 + 7,514 + 167,300 + 98,174 +3,318,981 H.4.1 4. 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 Jun 10, 2020 Change since Wednesday Wednesday Jun 3, 2020 Jun 12, 2019 1,907,027 240,814 4,867,282 0 3,190,654 1,504,569 16,256 155,802 277 104,000 10,621 + + - 3,367 5,240 6,585 0 66,781 73,107 25 283 481 0 510 + 216,766 23,516 +3,017,084 0 +1,580,916 +1,331,507 + 11,012 + 93,648 44 + 104,000 + 4,965 7,130,021 + 3,721 +3,319,254 32,091 6,825 0 - 1 0 0 - 273 0 0 38,916 - 1 - 273 + + - 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 $37.5 billion, MS Facilities LLC of $37.5 billion, and Municipal Liquidity Facility LLC of $17.5 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 5. Statement of Condition of Each Federal Reserve Bank, June 10, 2020 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 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 1,412 533 25 5,483 37 529 128 761 79 1,165 195 2,183 138 1,137 242 479 20 270 36 450 91 1,202 159 2,045 261 6,555,242 174,990 3,365,747 151,107 203,141 409,580 480,082 364,306 103,986 64,346 108,947 313,947 815,063 12,796 0 12,796 0 0 0 0 0 0 0 0 0 0 37,374 0 37,374 0 0 0 0 0 0 0 0 0 0 31,875 31,875 0 0 0 0 0 0 0 0 0 0 0 16,077 444,520 0 21,100 16,077 149,387 0 15,996 0 37,986 0 93,824 0 22,047 0 17,263 0 7,287 0 3,481 0 4,688 0 5,278 0 66,185 997 7,985 66,492 + 7,065 8,348 441,696 - 756 788 13,786 + 344 794 24,683 - 165 440 12,965 - 222 788 21,164 - 88,227 55,773 94,021 21,015 32,387 0 - 1,796 1,079 6,063 - 7,168,936 171,014 4,044,010 155,519 250,906 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,435 2,331 12,235 499,295 1,042 2,420 116,700 391,211 816 1,825 27,578 358,011 249 1,691 6,366 316,160 3,129 3,898 145,792 744,789 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, June 10, 2020 (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 1,907,027 240,814 4,867,282 58,544 5,408 65,875 636,455 124,683 3,199,309 52,344 5,494 95,993 85,425 7,534 154,289 125,482 15,093 349,687 262,920 17,747 107,959 126,628 13,451 215,875 58,549 3,805 25,017 31,001 2,276 21,737 52,759 3,829 36,765 161,063 11,606 142,410 255,857 29,888 452,366 3,190,654 1,504,569 16,256 155,802 65,862 0 2 11 1,622,531 1,504,569 16,230 55,979 95,991 0 1 0 154,257 0 3 28 348,161 0 8 1,517 107,855 0 2 103 123,422 0 2 92,451 25,013 0 1 3 21,678 0 0 59 33,894 0 0 2,871 139,629 0 0 2,780 452,359 0 6 1 2,057 44 1,065 46 73 162 143 105 29 15 36 85 255 104,000 39,000 65,000 0 0 0 0 0 0 0 0 0 0 8,841 313 4,484 236 286 687 538 439 191 418 216 345 689 7,130,021 169,184 4,030,996 154,112 247,607 491,110 389,307 356,497 87,591 55,448 93,606 315,508 739,054 32,091 6,825 0 1,505 324 0 10,720 2,294 0 1,161 246 0 2,715 583 0 6,745 1,441 0 1,565 338 0 1,249 265 0 524 112 0 272 53 0 344 72 0 571 81 0 4,719 1,016 0 7,168,936 171,014 4,044,010 155,519 250,906 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 499,295 391,211 358,011 88,227 55,773 94,021 316,160 744,789 Treasury contributions to credit facilities9 Other liabilities and accrued dividends Total liabilities Capital Capital paid in Surplus Other capital H.4.1 5. Statement of Condition of Each Federal Reserve Bank, June 10, 2020 (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 $37.5 billion, MS Facilities LLC of $37.5 billion, and Municipal Liquidity Facility LLC of $17.5 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) has extended loans to several 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 dollar-denominated 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. The FRBNY is the managing member of CPFF II LLC, CCF LLC, and MLF LLC. The Federal Reserve Bank of Boston (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 5 (and in table 1 and table 4), 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 4). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 5 (and in table 1 and table 4). H.4.1 6. 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 Jun 10, 2020 2,062,520 155,493 1,907,027 1,907,027 11,037 5,200 1,890,790 0 6,155,651 228,399 5,927,253
@FedFRASER