FRB: H.4.1 Release--Factors Affecting Reserve Balances-- June 18, 2020

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 Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jun 17, 2020
Federal Reserve Banks Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Reserve Bank credit 7,085,167 - 28,041 +3,276,184 7,055,889
Securities held outright (1) 6,078,625 + 97,492 +2,413,566 6,090,428
U.S. Treasury securities 4,163,270 + 20,079 +2,053,217 4,169,340
Bills (2) 326,044 0 + 326,007 326,044
Notes and bonds, nominal (2) 3,538,225 + 17,737 +1,567,955 3,542,389
Notes and bonds, inflation-indexed (2) 262,694 + 2,543 + 146,178 264,552
Inflation compensation (3) 36,307 - 201 + 13,078 36,356
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,913,008 + 77,413 + 360,349 1,918,741
Unamortized premiums on securities held outright (5) 310,353 + 4,243 + 178,384 311,026
Unamortized discounts on securities held outright (5) -5,408 + 67 + 7,539 -5,366
Repurchase agreements (6) 120,429 - 63,886 + 120,429 79,053
Foreign official 0 0 0 0
Others 120,429 - 63,885 + 120,429 79,053
Loans 96,402 - 3,201 + 96,330 95,031
Primary credit 7,939 - 1,313 + 7,920 7,479
Secondary credit 0 0 0 0
Seasonal credit 12 + 2 - 41 13
Primary Dealer Credit Facility 5,621 - 225 + 5,621 5,306
Money Market Mutual Fund Liquidity Facility 25,604 - 2,564 + 25,604 24,680
Paycheck Protection Program Liquidity Facility 57,226 + 901 + 57,226 57,552
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 12,796 + 1 + 12,796 12,797
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 38,110 + 1,290 + 38,110 38,916
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 31,875 + 27,321 + 31,875 31,876
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,078 + 2 + 16,078 16,079
Net portfolio holdings of TALF II LLC (7) 0 0 0 0
Float -229 - 44 - 91 -216
Central bank liquidity swaps (8) 352,584 - 93,675 + 352,567 352,470
Other Federal Reserve assets (9) 33,553 + 2,349 + 8,601 33,795
Foreign currency denominated assets (10) 20,923 + 71 + 107 20,866
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,373 + 14 + 454 50,373

Total factors supplying reserve funds 7,172,705 - 27,955 +3,276,745 7,143,369

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 17, 2020
Federal Reserve Banks Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Currency in circulation (11) 1,956,927 + 2,960 + 219,969 1,959,750
Reverse repurchase agreements (12) 232,965 - 8,657 - 35,616 225,462
Foreign official and international accounts 232,340 - 9,101 - 29,204 225,461
Others 626 + 445 - 6,411 1
Treasury cash holdings 113 - 38 - 98 83
Deposits with F.R. Banks, other than reserve balances 1,746,476 + 77,794 +1,470,015 1,726,191
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,560,850 + 54,292 +1,362,452 1,565,306
Foreign official 16,250 - 120 + 11,006 16,247
Other (13) 169,376 + 23,621 + 96,558 144,637
Treasury contributions to credit facilities (14) 106,857 + 2,857 + 106,857 114,000
Other liabilities and capital (15) 50,875 + 863 + 5,081 48,445

Total factors, other than reserve balances,
absorbing reserve funds 4,094,214 + 75,781 +1,766,210 4,073,930

Reserve balances with Federal Reserve Banks 3,078,491 - 103,737 +1,510,536 3,069,439

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 $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.
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 17, 2020
Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Securities held in custody for foreign official and
international accounts 3,419,320 + 12,264 - 58,114 3,423,057
Marketable U.S. Treasury securities (1) 2,956,733 + 11,938 - 99,648 2,960,181
Federal agency debt and mortgage-backed securities (2) 377,573 + 226 + 33,440 377,751
Other securities (3) 85,014 + 100 + 8,094 85,125
Securities lent to dealers 33,661 - 66 + 6,599 30,094
Overnight facility (4) 33,661 - 66 + 6,599 30,094
U.S. Treasury securities 33,661 - 66 + 6,599 30,094
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 17, 2020
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) 10,098 19,628 8,953 56,352 0 ... 95,031
U.S. Treasury securities (2)
Holdings 70,365 276,151 587,886 1,581,775 729,159 924,006 4,169,340
Weekly changes + 27,492 - 16,676 + 1,168 + 740 + 3,843 + 2,366 + 18,931
Federal agency debt securities (3)
Holdings 0 0 0 0 1,436 911 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 5 2,267 80,708 1,835,761 1,918,741
Weekly changes 0 0 0 + 37 - 176 + 83,284 + 83,146
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 4,251 0 ... ... ... 4,251
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 0 ... ... 0
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 0 ... ... 1,200
Loans held by TALF II LLC (8) 0 0 0 0 ... ... 0
Repurchase agreements (8) 25,853 53,200 ... ... ... ... 79,053
Central bank liquidity swaps (9) 242,962 109,508 0 0 0 0 352,470
Reverse repurchase agreements (8) 225,462 0 ... ... ... ... 225,462
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, 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.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Jun 17, 2020

Mortgage-backed securities held outright (1) 1,918,741
Residential mortgage-backed securities 1,909,628
Commercial mortgage-backed securities 9,113

Commitments to buy mortgage-backed securities (2) 96,199
Commitments to sell mortgage-backed securities (2) 3,815

Cash and cash equivalents (3) 0

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 17, 2020
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 4,243 4,251 8,547 12,797
Corporate Credit Facilities LLC 6,567 7,027 31,889 38,916
MS Facilities LLC (Main Street Lending Program) 0 0 31,876 31,876
Municipal Liquidity Facility LLC 1,200 1,200 14,879 16,079
TALF II LLC 0 0 0 0

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.
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.

5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jun 17, 2020 Wednesday Wednesday
consolidation Jun 10, 2020 Jun 19, 2019

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,431 + 19 - 239
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,570,172 + 14,930 +2,789,947
Securities held outright (1) 6,090,428 + 102,077 +2,429,201
U.S. Treasury securities 4,169,340 + 18,931 +2,059,256
Bills (2) 326,044 0 + 326,039
Notes and bonds, nominal (2) 3,542,389 + 15,615 +1,572,119
Notes and bonds, inflation-indexed (2) 264,552 + 3,401 + 148,036
Inflation compensation (3) 36,356 - 84 + 13,063
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 1,918,741 + 83,146 + 369,945
Unamortized premiums on securities held outright
(5) 311,026 + 4,210 + 179,246
Unamortized discounts on securities held outright
(5) -5,366 + 86 + 7,570
Repurchase agreements (6) 79,053 - 88,247 + 79,053
Loans (7) 95,031 - 3,196 + 94,877
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 12,797 + 1 + 12,797
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 38,916 + 1,542 + 38,916
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 31,876 + 1 + 31,876
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,079 + 2 + 16,079
Net portfolio holdings of TALF II LLC (8) 0 0 0
Items in process of collection (0) 51 + 11 - 2
Bank premises 2,202 + 1 + 10
Central bank liquidity swaps (9) 352,470 - 92,050 + 352,453
Foreign currency denominated assets (10) 20,866 - 149 + 55
Other assets (11) 31,594 + 1,447 + 8,784

Total assets (0) 7,094,690 - 74,246 +3,250,674

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 17, 2020 Wednesday Wednesday
consolidation Jun 10, 2020 Jun 19, 2019

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,910,886 + 3,859 + 221,230
Reverse repurchase agreements (12) 225,462 - 15,352 - 59,233
Deposits (0) 4,795,630 - 71,652 +2,971,426
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,069,439 - 121,215 +1,567,915
U.S. Treasury, General Account 1,565,306 + 60,737 +1,306,665
Foreign official 16,247 - 9 + 11,003
Other (13) (0) 144,637 - 11,165 + 85,842
Deferred availability cash items (0) 268 - 9 + 103
Treasury contributions to credit facilities (14) 114,000 + 10,000 + 114,000
Other liabilities and accrued dividends (15) 9,531 - 1,090 + 3,453

Total liabilities (0) 7,055,776 - 74,245 +3,250,978

Capital accounts
Capital paid in 32,090 - 1 - 302
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 38,915 - 1 - 302

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 $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.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2020
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 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045
Coin 1,431 24 38 127 81 196 142 242 23 38 91 164 267
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 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
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 12,797 0 12,797 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 38,916 0 38,916 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 31,876 31,876 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,079 0 16,079 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 352,470 16,730 118,452 12,684 30,120 74,395 17,481 13,688 5,778 2,760 3,717 4,185 52,479
Foreign currency denominated
assets (4) 20,866 990 7,014 751 1,783 4,404 1,035 810 342 163 220 248 3,106
Other assets (5) 33,847 8,014 9,104 821 1,120 2,412 2,539 1,907 816 430 812 1,799 4,074
Interdistrict settlement account 0 - 67,296 + 472,892 - 14,968 + 1,877 - 23,540 - 111,944 - 32,494 - 24,237 - 13,455 - 22,437 - 19,151 - 145,245

Total assets 7,094,690 163,958 4,054,597 151,483 239,444 469,759 392,854 350,643 87,409 54,689 92,115 303,299 734,442

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 17, 2020 (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 1,910,886 58,128 640,562 52,952 85,644 125,029 263,286 126,109 58,375 30,819 52,781 161,799 255,402
Reverse repurchase agreements (6) 225,462 5,063 116,735 5,144 7,054 14,131 16,616 12,593 3,562 2,131 3,585 10,866 27,983
Deposits 4,795,630 59,566 3,205,011 91,690 143,091 321,595 110,310 209,846 24,611 20,991 35,083 129,514 444,321
Depository institutions 3,069,439 59,544 1,568,615 91,689 143,020 321,105 110,208 124,301 24,608 20,934 33,592 127,508 444,315
U.S. Treasury, General Account 1,565,306 0 1,565,306 0 0 0 0 0 0 0 0 0 0
Foreign official 16,247 2 16,221 1 3 8 2 2 1 0 0 0 6
Other (7) 144,637 21 54,869 0 68 482 99 85,543 3 57 1,490 2,005 0
Earnings remittances due to the U.S.
Treasury (8) 1,331 27 738 26 33 58 101 74 20 10 12 69 163
Treasury contributions to credit
facilities (9) 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 8,468 343 3,540 263 323 761 638 506 206 414 237 400 838

Total liabilities 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

Capital
Capital paid in 32,090 1,505 10,718 1,161 2,715 6,745 1,565 1,250 523 272 344 571 4,719
Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,094,690 163,958 4,054,597 151,483 239,444 469,759 392,854 350,643 87,409 54,689 92,115 303,299 734,442

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 17, 2020 (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, Money Market Mutual Fund Liquidity 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 a $6.825 billion surplus.
9. 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).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jun 17, 2020

Federal Reserve notes outstanding 2,067,014
Less: Notes held by F.R. Banks not subject to collateralization 156,128
Federal Reserve notes to be collateralized 1,910,886
Collateral held against Federal Reserve notes 1,910,886
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,894,649
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,169,481
Less: Face value of securities under reverse repurchase agreements 216,811
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,952,670

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