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FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time June 18, 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 on the Term Asset-Backed Securities Loan Facility (TALF) and a new table 4 that provides supplemental information on all credit facilities. Table 4, “Information on Principal Accounts of Credit Facilities LLCs,” was added to provide information about outstanding principal amount of loans extended to LLCs by Reserve Banks. The table also provides information on the net portfolio holdings of credit facilities LLCs including outstanding amounts of facility asset purchases, Treasury contributions, and other assets. The TALF operates through the Term Asset-Backed Securities Loan Facility II LLC (TALF II LLC), a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. On March 23, 2020, the Federal Reserve announced the TALF. On June 16, 2020, the Federal Reserve Bank of New York (FRBNY) received Treasury’s equity contribution for the TALF program. Consistent with generally accepted accounting principles, the assets and liabilities of TALF II LLC have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on the release because the FRBNY is the managing member of TALF II LLC. The net portfolio holdings of TALF II LLC appear as an asset on the statement of condition of the FRBNY (now table 6), the consolidated statement of condition of all Federal Reserve Banks (now table 5), factors affecting reserve balances of depository institutions (table 1), and information on principal accounts of credit facilities LLC (table 4). The amount provided by the U.S. Treasury as credit protection for the TALF II LLC is included in “Treasury contributions to credit facilities” in tables 1, 4, 5, and 6. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks June 18, 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 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 Jun 17, 2020 Averages of daily figures Change from week ended Jun 10, 2020 Jun 19, 2019 7,085,167 6,078,625 4,163,270 326,044 3,538,225 262,694 36,307 2,347 1,913,008 310,353 -5,408 120,429 0 120,429 96,402 7,939 0 12 5,621 25,604 57,226 0 + + 12,796 38,110 + + 1 1,290 + + 12,796 38,110 12,797 38,916 31,875 16,078 0 -229 352,584 33,553 20,923 11,041 5,200 50,373 + + 27,321 2 0 44 93,675 2,349 71 0 0 14 + + 31,875 16,078 0 91 352,567 8,601 107 0 0 454 31,876 16,079 0 -216 352,470 33,795 20,866 11,041 5,200 50,373 +3,276,745 7,143,369 + + + + + + + + + + 28,041 97,492 20,079 0 17,737 2,543 201 0 77,413 4,243 67 63,886 0 63,885 3,201 1,313 0 2 225 2,564 901 0 7,172,705 27,955 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. +3,276,184 +2,413,566 +2,053,217 + 326,007 +1,567,955 + 146,178 + 13,078 0 + 360,349 + 178,384 + 7,539 + 120,429 0 + 120,429 + 96,330 + 7,920 0 41 + 5,621 + 25,604 + 57,226 0 Wednesday Jun 17, 2020 + + + + 7,055,889 6,090,428 4,169,340 326,044 3,542,389 264,552 36,356 2,347 1,918,741 311,026 -5,366 79,053 0 79,053 95,031 7,479 0 13 5,306 24,680 57,552 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 17, 2020 Averages of daily figures Change from week ended Jun 10, 2020 Jun 19, 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 1,956,927 232,965 232,340 626 113 1,746,476 0 1,560,850 16,250 169,376 106,857 50,875 + + + 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 17, 2020 + + + + 2,960 8,657 9,101 445 38 77,794 0 54,292 120 23,621 2,857 863 + 219,969 35,616 29,204 6,411 98 +1,470,015 0 +1,362,452 + 11,006 + 96,558 + 106,857 + 5,081 1,959,750 225,462 225,461 1 83 1,726,191 0 1,565,306 16,247 144,637 114,000 48,445 4,094,214 + 75,781 +1,766,210 4,073,930 3,078,491 - 103,737 +1,510,536 3,069,439 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, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 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 17, 2020 3,419,320 2,956,733 377,573 85,014 33,661 33,661 33,661 0 Averages of daily figures Change from week ended Jun 10, 2020 Jun 19, 2019 + + + + - 12,264 11,938 226 100 66 66 66 0 + + + + + 58,114 99,648 33,440 8,094 6,599 6,599 6,599 0 Wednesday Jun 17, 2020 3,423,057 2,960,181 377,751 85,125 30,094 30,094 30,094 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, June 17, 2020 Millions of dollars Within 15 days Remaining Maturity 10,098 Loans1 U.S. Treasury securities2 Holdings Weekly changes Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days + 70,365 27,492 0 0 19,628 - 276,151 16,676 0 0 Mortgage-backed securities4 0 0 Holdings 0 0 Weekly changes Commercial paper held by Commercial 0 4,251 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 25,853 53,200 Repurchase agreements8 242,962 109,508 Central bank liquidity swaps9 225,462 0 Reverse repurchase agreements8 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 8,953 56,352 0 587,886 1,168 1,581,775 + 740 0 0 0 0 91 days to 1 year + 5 0 + 2,267 37 + 729,159 3,843 Over 10 years ... + 1,436 0 - 80,708 176 All 924,006 2,366 95,031 + 911 0 + 1,835,761 83,284 4,169,340 18,931 2,347 0 + 1,918,741 83,146 0 ... ... ... 4,251 0 0 ... ... 0 1,200 0 ... 0 ... 0 0 0 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 1,200 0 79,053 352,470 225,462 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 Jun 17, 2020 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 1,918,741 1,909,628 9,113 96,199 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 3,815 0 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 Jun 17, 2020 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 4,243 Commercial Paper Funding Facility II LLC 6,567 Corporate Credit Facilities LLC 0 MS Facilities LLC (Main Street Lending Program) 1,200 Municipal Liquidity Facility LLC 0 TALF II LLC Note: Components may not sum to totals because of rounding. Credit Facilities LLCs: Outstanding amount of facility asset purchases2 4,251 7,027 0 1,200 0 Treasury contributions and other assets3 8,547 31,889 31,876 14,879 0 Total 12,797 38,916 31,876 16,079 0 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 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 initially 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, and Municipal Liquidity Facility 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 Jun 17, 2020 11,037 5,200 1,431 (0) Change since Wednesday Wednesday Jun 10, 2020 Jun 19, 2019 + 0 0 19 - 0 0 239 6,570,172 6,090,428 4,169,340 326,044 3,542,389 264,552 36,356 2,347 1,918,741 311,026 -5,366 79,053 95,031 + + + + + + - 14,930 102,077 18,931 0 15,615 3,401 84 0 83,146 4,210 86 88,247 3,196 12,797 38,916 + + 1 1,542 + + 12,797 38,916 31,876 16,079 0 51 2,202 352,470 20,866 31,594 + + + + + + + 1 2 0 11 1 92,050 149 1,447 31,876 16,079 0 2 10 352,453 55 8,784 - 74,246 +3,250,674 (0) 7,094,690 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + - +2,789,947 +2,429,201 +2,059,256 + 326,039 +1,572,119 + 148,036 + 13,063 0 + 369,945 + 179,246 + 7,570 + 79,053 + 94,877 + + + + 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 Jun 17, 2020 Change since Wednesday Wednesday Jun 10, 2020 Jun 19, 2019 1,910,886 225,462 4,795,630 0 3,069,439 1,565,306 16,247 144,637 268 114,000 9,531 + + + - 3,859 15,352 71,652 0 121,215 60,737 9 11,165 9 10,000 1,090 + 221,230 59,233 +2,971,426 0 +1,567,915 +1,306,665 + 11,003 + 85,842 + 103 + 114,000 + 3,453 7,055,776 - 74,245 +3,250,978 32,090 6,825 0 - 1 0 0 - 302 0 0 38,915 - 1 - 302 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, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 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, June 17, 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 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 1,431 533 24 5,483 38 529 127 761 81 1,165 196 2,183 142 1,137 242 479 23 270 38 450 91 1,202 164 2,045 267 6,570,172 173,086 3,373,822 151,540 203,703 410,728 481,418 365,354 104,210 64,483 109,262 314,853 817,715 12,797 0 12,797 0 0 0 0 0 0 0 0 0 0 38,916 0 38,916 0 0 0 0 0 0 0 0 0 0 31,876 31,876 0 0 0 0 0 0 0 0 0 0 0 16,079 0 352,470 0 0 16,730 16,079 0 118,452 0 0 12,684 0 0 30,120 0 0 74,395 0 0 17,481 0 0 13,688 0 0 5,778 0 0 2,760 0 0 3,717 0 0 4,185 0 0 52,479 990 8,014 67,296 + 7,014 9,104 472,892 - 751 821 14,968 + 342 816 24,237 - 163 430 13,455 - 220 812 22,437 - 248 1,799 19,151 - 87,409 54,689 92,115 20,866 33,847 0 - 1,783 1,120 1,877 - 7,094,690 163,958 4,054,597 151,483 239,444 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,404 2,412 23,540 469,759 1,035 2,539 111,944 392,854 810 1,907 32,494 350,643 303,299 3,106 4,074 145,245 734,442 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, June 17, 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 1,910,886 225,462 4,795,630 58,128 5,063 59,566 640,562 116,735 3,205,011 52,952 5,144 91,690 85,644 7,054 143,091 125,029 14,131 321,595 263,286 16,616 110,310 126,109 12,593 209,846 58,375 3,562 24,611 30,819 2,131 20,991 52,781 3,585 35,083 161,799 10,866 129,514 255,402 27,983 444,321 3,069,439 1,565,306 16,247 144,637 59,544 0 2 21 1,568,615 1,565,306 16,221 54,869 91,689 0 1 0 143,020 0 3 68 321,105 0 8 482 110,208 0 2 99 124,301 0 2 85,543 24,608 0 1 3 20,934 0 0 57 33,592 0 0 1,490 127,508 0 0 2,005 444,315 0 6 0 1,331 27 738 26 33 58 101 74 20 10 12 69 163 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0 8,468 343 3,540 263 323 761 638 506 206 414 237 400 838 7,055,776 162,128 4,041,585 150,076 236,146 461,573 390,950 349,128 86,774 54,364 91,699 302,647 728,707 32,090 6,825 0 1,505 324 0 10,718 2,294 0 1,161 246 0 2,715 583 0 6,745 1,441 0 1,565 338 0 1,250 265 0 523 112 0 272 53 0 344 72 0 571 81 0 4,719 1,016 0 7,094,690 163,958 4,054,597 151,483 239,444 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 469,759 392,854 350,643 87,409 54,689 92,115 303,299 734,442 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, June 17, 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 TALF II LLC of $10 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, MLF LLC, and TALF II 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 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 Jun 17, 2020 2,067,014 156,128 1,910,886 1,910,886 11,037 5,200 1,894,649 0 6,169,481 216,811 5,952,670
@FedFRASER