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FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time May 14, 2020 Note: This cover note was revised on May 15, 2020, to provide clarification about the reporting lags for CCF LLC. 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 Primary Market Corporate Credit Facility (PMCCF) and Secondary Market Corporate Credit Facility (SMCCF). These facilities operate through the Corporate Credit Facility LLC (CCF LLC), a special purpose vehicle that was formed to support credit to employers through bond and loan issuances and to provide liquidity to the market for outstanding corporate bonds. On March 23, 2020, the Federal Reserve announced the PMCCF and SMCCF. On May 12, 2020, the Federal Reserve Bank of New York (FRBNY) extended credit to the CCF LLC under the authority of section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary, and the CCF LLC began purchasing eligible bonds and loans. Consistent with generally accepted accounting principles, the assets and liabilities of CCF LLC have been accounted for and 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 CCF LLC. CCF asset balances from trading activity are reported in this release on a one-day lag after the transaction date. The net portfolio holdings of CCF LLC appear as an asset on the statement of condition of the FRBNY (table 5), the consolidated statement of condition of all Federal Reserve Banks (table 4), and factors affecting reserve balances of depository institutions (table 1). The amount provided by the U.S. Treasury as credit protection for the CCF LLC is separately presented in a new line “Treasury contributions to credit facilities” in tables 1, 4, and 5. Additionally, amounts provided by the U.S. Treasury as credit protection to the Commercial Paper Funding Facility II LLC previously included in “Other liabilities” is now included in “Treasury contributions to credit facilities” 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 May 14, 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 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 May 13, 2020 Averages of daily figures Change from week ended May 6, 2020 May 15, 2019 6,742,165 5,672,975 4,039,589 326,044 3,426,259 250,766 36,520 2,347 1,631,040 289,693 -5,422 182,487 1,402 181,086 114,244 24,943 0 2 12,044 41,333 35,923 0 + + + 4,246 44 -181 442,838 41,239 20,498 11,041 5,200 50,303 + + + + - + + + + + + + + + + + + 78,465 67,473 41,575 0 35,847 5,357 371 0 25,899 4,264 209 9,558 1,402 8,157 4,486 4,970 0 2 7,026 3,362 10,871 0 272 44 94 2,127 3,162 155 0 0 14 6,829,207 + 78,324 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. +2,891,665 +1,973,178 +1,916,758 + 325,944 +1,441,242 + 135,405 + 14,167 0 + 56,421 + 156,003 + 7,524 + 182,468 + 1,402 + 181,067 + 114,200 + 24,936 0 36 + 12,044 + 41,333 + 35,923 0 + + + + + - Wednesday May 13, 2020 6,895,709 5,843,376 4,057,268 326,044 3,442,616 252,016 36,592 2,347 1,783,761 297,516 -5,354 157,354 1,404 155,950 114,927 24,239 0 0 10,288 39,820 40,580 0 4,246 44 7 442,788 11,204 240 0 0 402 4,292 305 -239 440,934 42,599 20,484 11,041 5,200 50,303 +2,891,826 6,982,738 + 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 May 13, 2020 Averages of daily figures Change from week ended May 6, 2020 May 15, 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 1,925,729 274,149 271,607 2,542 293 1,390,110 0 1,177,494 16,334 196,282 26,073 55,923 + + + + + 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 May 13, 2020 + + + + + + + + - 9,645 3,475 2,430 1,045 8 50,129 0 50,004 16 140 26,073 8,982 194,132 14,846 12,785 2,060 26 999,216 0 853,708 11,089 134,420 26,073 10,523 1,929,840 281,150 267,325 13,825 277 1,400,534 0 1,138,172 16,328 246,034 47,500 60,005 3,672,278 + 80,333 +1,244,764 3,719,306 3,156,929 - 2,009 +1,647,062 3,263,431 + + + + + 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. Refer to the note on consolidation accompanying table 5. 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 and Corporate Credit Facility LLC. 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 Week ended May 13, 2020 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. Averages of daily figures Change from week ended May 6, 2020 May 15, 2019 3,366,532 2,900,702 381,058 84,772 33,392 33,392 33,392 0 + + + - 21,139 21,211 602 675 5,058 5,058 5,058 0 + + + + + Wednesday May 13, 2020 102,865 161,754 48,240 10,649 11,889 11,889 11,889 0 3,375,386 2,907,742 383,643 84,001 34,803 34,803 34,803 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. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 13, 2020 Millions of dollars Within 15 days Remaining Maturity Loans1 U.S. Treasury securities2 Holdings Weekly changes Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days 11,369 - 102,681 2,079 0 0 50,011 + 217,461 3,825 0 0 Mortgage-backed securities4 0 0 Holdings 0 0 Weekly changes Commercial paper held by Commercial 0 4,255 Paper Funding Facility II LLC5 10,204 147,150 Repurchase agreements6 14,425 426,509 Central bank liquidity swaps7 281,150 0 Reverse repurchase agreements6 0 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 6. 7. Over 1 year to 5 years Over 5 year to 10 years 12,967 40,580 0 561,643 3,126 1,584,494 + 15,910 0 0 0 0 5 0 2,014 0 0 ... 0 ... 0 ... ... 0 ... ... 91 days to 1 year + + 686,628 10,818 Over 10 years ... + 1,151 0 + 79,044 97 ... ... 0 ... ... All 904,361 5,476 114,927 + 1,196 0 + 1,702,697 178,283 ... ... 0 ... ... 4,057,268 37,077 2,347 0 + 1,783,761 178,381 4,255 157,354 440,934 281,150 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 and Corporate Credit Facility LLC, which were eliminated when preparing the FRBNY's statement of condition 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. Face value of commercial paper held by Commercial Paper Funding Facility II LLC. Cash value of agreements. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 Wednesday May 13, 2020 1,783,761 1,775,151 8,610 182,145 1,700 16 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 Facility LLC8 Items in process of collection Bank premises Central bank liquidity swaps9 Foreign currency denominated assets10 Other assets11 Eliminations from consolidation Wednesday May 13, 2020 11,037 5,200 1,509 (0) Change since Wednesday Wednesday May 6, 2020 May 15, 2019 - 0 0 48 6,407,819 5,843,376 4,057,268 326,044 3,442,616 252,016 36,592 2,347 1,783,761 297,516 -5,354 157,354 114,927 + + + + + + + 212,891 215,458 37,077 0 33,100 3,750 227 0 178,381 11,014 180 15,346 1,585 4,292 305 49 2,205 440,934 20,484 40,394 + + + + + 304 305 19 2 3,951 37 3,325 + 212,807 (0) 6,934,227 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + + - 0 0 169 +2,600,976 +2,157,001 +1,942,824 + 325,944 +1,466,051 + 136,655 + 14,175 0 + 214,177 + 164,047 + 7,710 + 157,354 + 114,863 + + + + + 4,292 305 70 9 440,884 227 23,480 +3,069,478 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 May 13, 2020 Change since Wednesday Wednesday May 6, 2020 May 15, 2019 1,881,319 281,150 4,663,966 0 3,263,431 1,138,172 16,328 246,034 288 47,500 21,114 + + + + + + + - 7,994 15,944 145,427 0 97,825 5,096 8 52,705 16 47,500 4,094 + 196,978 + 17,225 +2,792,583 0 +1,747,012 + 843,203 + 11,082 + 191,284 45 + 47,500 + 15,734 6,895,336 + 212,787 +3,069,974 32,066 6,825 0 + 20 0 0 - 496 0 0 38,891 + 20 - 496 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. Refer to the note on consolidation accompanying table 5. 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 and Corporate Credit Facility LLC. Includes the liability for earnings remittances due to the U.S. Treasury. H.4.1 5. Statement of Condition of Each Federal Reserve Bank, May 13, 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 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 1,509 533 31 5,483 44 529 139 761 83 1,165 208 2,183 144 1,137 254 479 20 270 40 450 99 1,202 171 2,045 276 6,407,819 184,010 3,295,676 145,186 197,618 398,899 466,736 355,976 101,076 61,523 103,483 305,519 792,115 4,292 0 4,292 0 0 0 0 0 0 0 0 0 0 305 440,934 0 20,930 305 148,182 0 15,867 0 37,680 0 93,067 0 21,869 0 17,123 0 7,228 0 3,453 0 4,650 0 5,235 0 65,651 972 1,085 67,683 + 6,886 20,833 452,625 - 737 1,021 10,660 - 1,750 1,404 25,331 + 4,323 2,971 18,946 - 336 839 21,092 - 160 551 15,583 - 216 969 15,409 - 88,886 50,415 94,458 20,484 42,648 0 - 6,934,227 139,879 3,934,325 152,820 213,966 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 519,579 1,016 3,195 104,249 390,894 795 2,403 14,887 362,801 243 2,204 3,179 311,396 3,049 5,172 193,498 674,810 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, May 13, 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 1,881,319 281,150 4,663,966 58,151 6,314 73,036 624,276 145,567 3,093,542 51,301 6,414 93,167 85,397 8,796 115,761 126,493 17,621 365,733 258,722 20,720 107,988 123,412 15,704 220,958 58,621 4,442 24,779 30,366 2,657 16,506 51,187 4,471 37,945 155,215 13,550 140,963 258,179 34,894 373,587 3,263,431 1,138,172 16,328 246,034 73,025 0 2 9 1,826,539 1,138,172 16,302 112,529 93,166 0 1 0 114,762 0 3 996 364,895 0 8 830 101,112 0 2 6,874 107,054 0 2 113,902 24,770 0 1 8 16,451 0 0 54 31,856 0 0 6,089 136,220 0 0 4,742 373,581 0 6 0 2,095 50 1,107 45 63 125 157 112 31 16 29 100 258 47,500 0 47,500 0 0 0 0 0 0 0 0 0 0 19,307 499 9,330 505 651 1,420 1,407 1,101 377 545 410 916 2,145 6,895,336 138,050 3,921,323 151,431 210,668 511,393 388,994 361,287 88,251 50,089 94,042 310,744 669,064 32,066 6,825 0 1,505 324 0 10,709 2,294 0 1,143 246 0 2,714 583 0 6,745 1,441 0 1,561 338 0 1,249 265 0 523 112 0 272 53 0 344 72 0 571 81 0 4,730 1,016 0 6,934,227 139,879 3,934,325 152,820 213,966 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 519,579 390,894 362,801 88,886 50,415 94,458 311,396 674,810 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, May 13, 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. 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 and Corporate Credit Facility LLC. 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 are used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facility 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 are used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY. The FRBNY is the managing member of CPFF II LLC and CCF LLC. 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, 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, the 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, 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 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 May 13, 2020 2,038,395 157,076 1,881,319 1,881,319 11,037 5,200 1,865,082 0 6,000,730 262,667 5,738,062
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