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FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time November 4, 2021 In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was estimated based upon the Main Street Lending Program holdings as of September 30, 2021. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 4, 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 Nov 3, 2021 8,530,742 8,057,187 5,527,019 326,044 4,763,776 371,128 66,072 2,347 2,527,821 354,456 -16,484 0 0 0 49,099 330 0 10 0 0 48,759 0 Averages of daily figures Change from week ended Oct 27, 2021 Nov 4, 2020 + + + + - - - 0 515 30,502 9,783 4,491 -425 332 41,287 20,714 11,041 5,200 50,838 + + + + - + 7,628 4,313 19,899 0 18,259 1,314 327 0 24,213 855 230 0 0 0 2,481 166 0 3 0 0 2,312 0 +1,420,499 +1,523,836 + 996,338 0 + 897,674 + 74,652 + 24,013 0 + 527,498 + 15,878 11,877 1,000 1,000 0 21,572 2,104 0 + 9 249 5,518 13,711 0 Wednesday Nov 3, 2021 8,536,560 8,063,390 5,533,219 326,044 4,767,776 372,843 66,557 2,347 2,527,824 354,701 -16,650 0 0 0 48,317 259 0 10 0 0 48,047 0 0 0 - 8,562 45,013 0 515 217 2 5 240 9 270 33 0 0 14 + - 10,973 6,768 7,702 106 6,873 1,231 866 0 0 429 30,507 9,783 4,490 -118 332 41,292 20,684 11,041 5,200 50,838 +1,420,062 8,624,323 8,618,535 7,647 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 Nov 3, 2021 Averages of daily figures Change from week ended Oct 27, 2021 Nov 4, 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 2,205,834 1,719,710 301,984 1,417,725 52 531,694 0 280,205 5,466 246,023 26,397 48,511 + + + - + 1,893 16,758 18,663 1,907 7 36,145 0 66,914 173 103,232 0 687 Total factors, other than reserve balances, absorbing reserve funds 4,532,199 - 16,813 4,086,336 + 9,166 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 Nov 3, 2021 + 159,088 +1,518,775 + 101,051 +1,417,723 + 3 -1,289,666 0 -1,341,141 15,791 + 67,265 87,603 135 2,207,681 1,657,066 313,081 1,343,985 49 534,233 0 286,959 5,647 241,627 26,397 49,066 + 300,463 4,474,492 +1,119,599 4,149,830 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. 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 MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 Nov 3, 2021 3,481,183 3,071,583 328,527 81,072 39,747 39,747 39,747 0 Averages of daily figures Change from week ended Oct 27, 2021 Nov 4, 2020 - 5,726 4,952 717 58 487 487 487 0 + + + + + 65,644 95,277 24,190 5,444 13,720 13,720 13,720 0 Wednesday Nov 3, 2021 3,479,869 3,070,087 328,561 81,220 35,895 35,895 35,895 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, November 3, 2021 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 114 1 Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days + 127,192 60,247 155 - 273,726 45,271 0 0 Mortgage-backed securities4 0 Holdings 0 Weekly changes Loan participations held by MS Facilities LLC (Main Street Lending 0 Program)5 Municipal notes held by Municipal 0 Liquidity Facility LLC6 0 Loans held by TALF II LLC7 0 Repurchase agreements8 332 Central bank liquidity swaps9 1,657,066 Reverse repurchase agreements8 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 6. 7. 8. 9. - 0 0 0 0 Over 1 year to 5 years Over 5 year to 10 years 2,738 45,309 0 702,180 4,350 2,121,068 + 7,256 1,001,373 5,292 0 0 0 0 2,134 0 91 days to 1 year + 27 7 + 1,677 73 + 62,981 259 Over 10 years All ... 1,307,680 7,300 + 48,317 5,533,219 19,890 + 213 0 2,463,138 294 - 2,347 0 2,527,824 47 + 0 0 15,898 ... ... 15,898 0 0 0 0 0 0 0 0 ... 0 ... 0 4,373 1,386 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 4,373 1,386 0 332 1,657,066 0 Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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. 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 the loan participations held by the MS Facilities LLC. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. Book value of the loans held by the TALF 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 Wednesday Nov 3, 2021 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,527,824 2,518,432 9,392 125,170 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 0 14 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 Nov 3, 2021 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 0 Corporate Credit Facilities LLC 15,736 MS Facilities LLC (Main Street Lending Program) 4,373 Municipal Liquidity Facility LLC 1,456 TALF II LLC Note: Components may not sum to totals because of rounding. Credit Facilities LLCs: 1. 2. 3. Outstanding amount of facility asset purchases2 0 13,567 4,373 1,386 Treasury contributions and other assets3 515 16,940 5,410 3,104 Total 515 30,507 9,783 4,490 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. Outstanding amount of facility asset purchases: a. For the Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. b. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses updated as of September 30, 2021. c. 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. d. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. 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 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 Nov 3, 2021 11,037 5,200 1,202 8,449,758 8,063,390 5,533,219 326,044 4,767,776 372,843 66,557 2,347 2,527,824 354,701 -16,650 0 48,317 Change since Wednesday Wednesday Oct 27, 2021 Nov 4, 2020 + + + + + + + + - 0 515 (0) 30,507 9,783 4,490 71 1,449 332 20,684 39,843 (0) 8,574,871 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 8 17,404 19,937 19,890 0 17,202 2,001 687 0 47 32 335 0 2,229 - 0 0 279 +1,503,848 +1,522,632 + 995,132 0 + 895,044 + 75,680 + 24,409 0 + 527,500 + 15,538 11,978 1,000 21,343 0 0 - 8,559 45,148 + + + + + 218 1 6 16 16 9 38 1,110 + + 11,176 6,769 7,776 18 741 6,916 960 1,850 + 18,690 +1,417,392 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 Nov 3, 2021 Change since Wednesday Wednesday Oct 27, 2021 Nov 4, 2020 2,158,089 1,657,066 4,684,063 0 4,149,830 286,959 5,647 241,627 188 26,397 9,200 + + + 2,174 64,418 78,848 0 26,676 50,464 381 1,327 460 0 2,541 + 156,955 +1,464,029 - 114,973 0 +1,170,293 -1,331,609 15,617 + 61,961 + 33 87,603 1,695 8,535,005 + 18,687 +1,416,747 33,081 6,785 0 + 4 0 0 + - 685 40 0 39,866 + 4 + 645 + + + + - 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. 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 MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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, November 3, 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 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 1,202 531 14 5,422 18 523 114 752 46 1,187 175 2,188 103 1,136 229 475 17 273 31 455 87 1,220 148 2,075 218 8,449,758 140,429 4,755,396 177,616 315,440 563,720 492,600 458,820 110,087 80,967 112,237 371,958 870,489 515 0 515 0 0 0 0 0 0 0 0 0 0 30,507 30,507 0 0 0 0 0 0 0 0 0 0 0 9,783 4,490 332 0 0 15 9,783 4,490 112 0 0 12 0 0 29 0 0 69 0 0 15 0 0 13 0 0 6 0 0 3 0 0 4 0 0 6 0 0 49 20,684 41,362 0 + 939 785 28,333 - 6,953 21,928 460,834 + 743 970 13,325 + 1,788 1,574 42,040 + 8,574,871 201,554 4,343,784 193,303 361,669 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,304 3,051 12,224 + 584,731 935 2,544 67,826 + 566,213 810 2,283 114,957 + 578,248 393 700 24,411 136,089 176 513 1,310 + 80,652 224 865 18,464 + 132,335 373 1,930 60,027 + 435,663 3,046 4,218 80,536 960,630 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, November 3, 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 2,158,089 1,657,066 4,684,063 70,840 27,691 86,233 689,599 936,667 2,688,285 61,453 34,999 95,063 103,478 60,294 193,625 153,331 111,037 311,299 318,192 97,091 148,746 120,611 90,426 365,092 64,436 21,604 48,996 32,777 12,822 34,616 54,809 22,004 54,837 194,488 73,278 166,554 294,076 169,153 490,718 4,149,830 286,959 5,647 241,627 86,215 0 2 16 2,351,768 286,959 5,620 43,938 95,062 0 1 0 193,584 0 3 37 310,357 0 8 934 148,613 0 2 131 169,792 0 2 195,299 48,987 0 1 8 34,424 0 0 192 54,115 0 0 722 166,260 0 1 293 490,654 0 6 57 2,440 55 1,339 51 83 192 152 118 58 25 36 99 233 26,397 16,572 9,825 0 0 0 0 0 0 0 0 0 0 6,948 -1,604 4,727 237 294 668 620 459 193 185 227 329 613 8,535,005 199,787 4,330,442 191,803 357,773 576,526 564,801 576,706 135,287 80,425 131,914 434,748 954,793 33,081 6,785 0 1,459 308 0 11,062 2,280 0 1,256 244 0 3,309 587 0 6,793 1,412 0 1,105 307 0 1,276 266 0 673 129 0 170 58 0 348 73 0 792 122 0 4,838 999 0 8,574,871 201,554 4,343,784 193,303 361,669 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 584,731 566,213 578,248 136,089 80,652 132,335 435,663 960,630 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, November 3, 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 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. 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 each Federal Reserve Bank's allotted surplus cap. Book value. Amount of equity investments in MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 Nov 3, 2021 2,410,987 252,898 2,158,089 2,158,089 11,037 5,200 2,141,852 0 8,063,390 1,614,369 6,449,021