FRB: H.4.1 Release--Factors Affecting Reserve Balances-- June 03, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks June 3, 2021

1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jun 2, 2021
Federal Reserve Banks Jun 2, 2021 May 26, 2021 Jun 3, 2020

Reserve Bank credit 7,879,913 - 9,317 + 778,729 7,895,638
Securities held outright (1) 7,349,075 - 8,601 +1,388,966 7,365,641
U.S. Treasury securities 5,102,458 + 20,353 + 980,017 5,119,023
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,382,646 + 18,176 + 881,222 4,398,990
Notes and bonds, inflation-indexed (2) 342,856 + 1,429 + 84,662 342,856
Inflation compensation (3) 50,913 + 749 + 14,134 51,133
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,244,270 - 28,954 + 408,948 2,244,270
Unamortized premiums on securities held outright (5) 348,972 - 777 + 43,957 349,132
Unamortized discounts on securities held outright (5) -13,636 - 209 - 8,149 -13,695
Repurchase agreements (6) 0 - 7 - 199,714 0
Foreign official 0 0 0 0
Others 0 - 7 - 199,714 0
Loans 84,785 + 792 - 19,656 84,977
Primary credit 578 - 48 - 13,153 578
Secondary credit 0 0 0 0
Seasonal credit 5 + 3 0 9
Primary Dealer Credit Facility 0 0 - 5,782 0
Money Market Mutual Fund Liquidity Facility 0 0 - 31,661 0
Paycheck Protection Program Liquidity Facility 84,202 + 837 + 30,940 84,389
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,554 0 - 4,240 8,554
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 25,963 - 13 - 9,609 25,963
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,562 + 10 + 30,562 30,567
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 10,881 - 32 - 2,040 10,882
Net portfolio holdings of TALF II LLC (7) 4,784 - 138 + 4,784 4,761
Float -614 - 490 - 34 -700
Central bank liquidity swaps (8) 642 - 36 - 446,602 513
Other Federal Reserve assets (9) 29,945 + 183 + 504 29,042
Foreign currency denominated assets (10) 21,727 - 28 + 992 21,815
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,656 + 14 + 428 50,656

Total factors supplying reserve funds 7,968,537 - 9,331 + 780,150 7,984,349

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jun 2, 2021
Federal Reserve Banks Jun 2, 2021 May 26, 2021 Jun 3, 2020

Currency in circulation (11) 2,176,914 + 6,758 + 227,230 2,179,122
Reverse repurchase agreements (12) 702,342 + 87,342 + 449,270 672,906
Foreign official and international accounts 232,330 + 8,250 - 19,884 234,128
Others 470,012 + 79,092 + 469,155 438,778
Treasury cash holdings 37 + 3 - 162 37
Deposits with F.R. Banks, other than reserve balances 1,175,343 - 111,620 - 441,271 1,183,620
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 783,235 - 29,238 - 651,588 812,087
Foreign official 26,846 - 169 + 10,569 26,748
Other (13) 365,262 - 82,213 + 199,748 344,785
Treasury contributions to credit facilities (14) 50,278 0 - 32,293 50,278
Other liabilities and capital (15) 49,495 - 762 + 709 50,123

Total factors, other than reserve balances,
absorbing reserve funds 4,154,409 - 18,281 + 203,482 4,136,087

Reserve balances with Federal Reserve Banks 3,814,127 + 8,949 + 576,666 3,848,262

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. 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.
6. Cash value of agreements.
7. 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.
8. 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.
9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net
portfolio holdings of Maiden Lane LLC.
10. Revalued daily at current foreign currency exchange rates.
11. Estimated.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities
13. 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.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Jun 2, 2021
Jun 2, 2021 May 26, 2021 Jun 3, 2020

Securities held in custody for foreign official and
international accounts 3,536,109 + 926 + 146,334 3,539,316
Marketable U.S. Treasury securities (1) 3,096,284 + 9,272 + 169,001 3,099,724
Federal agency debt and mortgage-backed securities (2) 350,924 - 8,731 - 26,409 350,572
Other securities (3) 88,900 + 384 + 3,741 89,019
Securities lent to dealers 38,474 + 2,162 + 8,095 36,662
Overnight facility (4) 38,474 + 2,162 + 8,095 36,662
U.S. Treasury securities 38,474 + 2,162 + 8,095 36,662
Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. 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.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 2, 2021
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years

Loans (1) 171 416 20,512 63,876 1 ... 84,977
U.S. Treasury securities (2)
Holdings 62,321 316,521 643,631 1,976,806 928,755 1,190,991 5,119,023
Weekly changes - 25,692 + 12,856 - 4,331 + 39,426 + 2,193 + 7,415 + 31,866
Federal agency debt securities (3)
Holdings 0 0 0 0 2,134 213 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 15 1,847 67,131 2,175,277 2,244,270
Weekly changes 0 0 + 4 + 3 - 7 + 5 + 5
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 16,320 ... ... 16,320
Municipal notes held by Municipal
Liquidity Facility LLC (7) 150 0 0 5,358 ... ... 5,508
Loans held by TALF II LLC (8) 0 0 0 1,675 ... ... 1,675
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 175 338 0 0 0 0 513
Reverse repurchase agreements (9) 672,906 0 ... ... ... ... 672,906
Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit 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.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Jun 2, 2021

Mortgage-backed securities held outright (1) 2,244,270
Residential mortgage-backed securities 2,234,447
Commercial mortgage-backed securities 9,823

Commitments to buy mortgage-backed securities (2) 201,850
Commitments to sell mortgage-backed securities (2) 10

Cash and cash equivalents (3) 3

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
Credit Facilities LLCs: Wednesday Jun 2, 2021
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total

Commercial Paper Funding Facility II LLC 0 0 8,554 8,554
Corporate Credit Facilities LLC 13,757 13,566 12,398 25,963
MS Facilities LLC (Main Street Lending Program) 16,282 13,662 16,906 30,567
Municipal Liquidity Facility LLC 5,508 5,508 5,374 10,882
TALF II LLC 1,733 1,675 3,086 4,761

Note: Components may not sum to totals because of rounding.

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, net of an allowance for loan losses
updated as of March 31, 2021.
d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances
from trading activity may be reported on
a one-day lag after the transaction date.
e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.
3. Includes short term receivables, interest and dividend receivables, and other assets of the
facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as
investments in nonmarketable Treasury securities and the residual portion which is held as cash and
cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are
eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6.
Amounts excluded are approximately 15% of Treasury contributions to the credit facilities from the
following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC,
Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying
table 6.

5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jun 2, 2021 Wednesday Wednesday
consolidation May 26, 2021 Jun 3, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,240 - 19 - 194
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,786,055 + 32,207 +1,200,487
Securities held outright (1) 7,365,641 + 31,872 +1,393,344
U.S. Treasury securities 5,119,023 + 31,866 + 984,667
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,398,990 + 31,204 + 886,566
Notes and bonds, inflation-indexed (2) 342,856 0 + 83,705
Inflation compensation (3) 51,133 + 662 + 14,396
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,244,270 + 5 + 408,676
Unamortized premiums on securities held outright
(5) 349,132 + 371 + 43,863
Unamortized discounts on securities held outright
(5) -13,695 - 73 - 8,191
Repurchase agreements (6) 0 - 46 - 211,550
Loans (7) 84,977 + 83 - 16,979
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,554 0 - 4,241
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 25,963 - 74 - 10,191
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,567 + 8 + 30,567
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 10,882 + 3 - 5,193
Net portfolio holdings of TALF II LLC (8) 4,761 - 162 + 4,761
Items in process of collection (0) 74 + 2 + 33
Bank premises 1,911 - 9 - 287
Central bank liquidity swaps (9) 513 - 165 - 446,432
Foreign currency denominated assets (10) 21,815 + 70 + 1,047
Other assets (11) 27,131 + 301 + 129

Total assets (0) 7,935,703 + 32,162 + 770,486

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jun 2, 2021 Wednesday Wednesday
consolidation May 26, 2021 Jun 3, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,129,739 + 6,164 + 226,079
Reverse repurchase agreements (12) 672,906 + 2,473 + 426,852
Deposits (0) 5,031,882 + 21,035 + 171,185
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,848,262 - 3,361 + 590,827
U.S. Treasury, General Account 812,087 + 33,175 - 619,375
Foreign official 26,748 - 328 + 10,467
Other (13) (0) 344,785 - 8,452 + 189,266
Deferred availability cash items (0) 774 + 542 + 16
Treasury contributions to credit facilities (14) 50,278 0 - 53,722
Other liabilities and accrued dividends (15) 10,615 + 1,948 - 516

Total liabilities (0) 7,896,195 + 32,161 + 769,895

Capital accounts
Capital paid in 32,724 + 1 + 632
Surplus 6,785 0 - 40
Other capital accounts 0 0 0

Total capital 39,509 + 1 + 592

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. 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.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. 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.
8. 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.
9. 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.
10. Revalued daily at current foreign currency exchange rates.
11. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
13. 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.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, June 2, 2021
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Assets
Gold certificates and special drawing
rights certificates 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075
Coin 1,240 18 28 108 57 177 114 225 15 34 86 146 232
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,786,055 128,924 4,364,897 167,461 292,435 518,677 452,574 421,278 101,616 81,623 105,666 341,792 809,113
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,554 0 8,554 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 25,963 0 25,963 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,567 30,567 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 10,882 0 10,882 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 4,761 0 4,761 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 513 23 172 18 44 107 23 20 10 4 6 9 76
Foreign currency denominated
assets (4) 21,815 986 7,396 780 1,878 4,520 982 851 413 185 235 391 3,198
Other assets (5) 29,116 574 14,965 709 1,106 2,205 1,832 1,616 664 397 688 1,402 2,959
Interdistrict settlement account 0 + 21,654 - 249,601 + 29,213 - 2,332 - 5,075 + 23,038 + 76,876 + 6,598 - 11,734 + 7,240 + 22,602 + 81,522

Total assets 7,935,703 183,276 4,193,439 198,813 293,941 521,797 480,751 502,002 109,791 70,781 114,376 367,561 899,175

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, June 2, 2021 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Liabilities
Federal Reserve notes, net 2,129,739 63,060 695,802 62,824 104,820 157,541 300,941 128,751 58,263 32,738 53,633 188,704 282,662
Reverse repurchase agreements (6) 672,906 11,245 380,364 14,212 24,484 45,090 39,427 36,721 8,773 5,207 8,936 29,757 68,690
Deposits 5,031,882 92,620 3,063,290 120,038 160,797 309,994 137,795 334,274 41,758 31,562 51,099 147,730 540,927
Depository institutions 3,848,262 92,601 2,058,956 120,037 160,524 309,161 137,663 160,029 41,749 31,065 48,395 147,183 540,900
U.S. Treasury, General Account 812,087 0 812,087 0 0 0 0 0 0 0 0 0 0
Foreign official 26,748 2 26,722 1 3 8 2 2 1 0 0 1 6
Other (7) 344,785 17 165,526 0 269 825 131 174,243 8 497 2,703 546 21
Earnings remittances due to the U.S.
Treasury (8) 2,742 49 1,545 53 98 202 167 149 32 26 29 123 268
Treasury contributions to credit
facilities (9) 50,278 16,572 33,706 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 8,647 -2,049 5,465 279 358 802 627 566 222 900 246 417 813

Total liabilities 7,896,195 181,497 4,180,173 197,406 290,558 513,628 478,958 500,461 109,049 70,432 113,942 366,730 893,361

Capital
Capital paid in 32,724 1,472 10,986 1,164 2,796 6,756 1,486 1,275 613 291 361 709 4,815
Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,935,703 183,276 4,193,439 198,813 293,941 521,797 480,751 502,002 109,791 70,781 114,376 367,561 899,175

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, June 2, 2021 (continued)

1. 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, Paycheck Protection Program Liquidity Facility, and other credit extensions.
2. 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.
3. 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.
4. Revalued daily at current foreign currency exchange rates.
5. 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.
6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
7. 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.
8. 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.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and
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
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. 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).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jun 2, 2021

Federal Reserve notes outstanding 2,305,556
Less: Notes held by F.R. Banks not subject to collateralization 175,817
Federal Reserve notes to be collateralized 2,129,739
Collateral held against Federal Reserve notes 2,129,739
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,113,502
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,365,641
Less: Face value of securities under reverse repurchase agreements 633,969
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,731,671

Note: Components may not sum to totals because of rounding.

1. 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.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.

Statistical releases