FRB: H.4.1 Release--Factors Affecting Reserve Balances-- July 23, 2020

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks July 23, 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 Jul 22, 2020
Federal Reserve Banks Jul 22, 2020 Jul 15, 2020 Jul 24, 2019

Reserve Bank credit 6,912,159 + 30,956 +3,144,551 6,925,422
Securities held outright (1) 6,222,906 + 55,715 +2,601,737 6,238,825
U.S. Treasury securities 4,259,308 + 18,480 +2,165,282 4,265,878
Bills (2) 326,044 0 + 326,042 326,044
Notes and bonds, nominal (2) 3,630,043 + 21,691 +1,675,672 3,636,425
Notes and bonds, inflation-indexed (2) 267,941 - 2,652 + 151,952 268,113
Inflation compensation (3) 35,280 - 559 + 11,616 35,296
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,961,251 + 37,235 + 436,455 1,970,600
Unamortized premiums on securities held outright (5) 319,083 + 2,596 + 189,102 320,498
Unamortized discounts on securities held outright (5) -5,227 + 45 + 7,561 -5,161
Repurchase agreements (6) 0 0 0 0
Foreign official 0 0 0 0
Others 0 0 0 0
Loans 92,783 - 575 + 92,658 92,552
Primary credit 4,605 - 186 + 4,603 4,578
Secondary credit 0 0 0 0
Seasonal credit 28 + 6 - 94 31
Primary Dealer Credit Facility 1,873 + 45 + 1,873 1,899
Money Market Mutual Fund Liquidity Facility 17,952 - 752 + 17,952 17,541
Paycheck Protection Program Liquidity Facility 68,326 + 313 + 68,326 68,503
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 10,299 - 2,035 + 10,299 10,105
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 43,794 + 741 + 43,794 44,046
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 37,516 + 11 + 37,516 37,518
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,084 + 2 + 16,084 16,085
Net portfolio holdings of TALF II LLC (7) 9,439 + 588 + 9,439 9,439
Float -174 + 72 + 10 -255
Central bank liquidity swaps (8) 126,322 - 27,172 + 126,311 121,992
Other Federal Reserve assets (9) 39,333 + 966 + 10,038 39,778
Foreign currency denominated assets (10) 21,148 + 124 + 315 21,267
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,443 + 14 + 494 50,443

Total factors supplying reserve funds 6,999,991 + 31,093 +3,145,360 7,013,374

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 Jul 22, 2020
Federal Reserve Banks Jul 22, 2020 Jul 15, 2020 Jul 24, 2019

Currency in circulation (11) 1,983,035 + 4,369 + 237,804 1,985,894
Reverse repurchase agreements (12) 216,946 - 4,496 - 73,229 214,665
Foreign official and international accounts 216,945 - 4,496 - 59,431 214,665
Others 1 + 1 - 13,799 0
Treasury cash holdings 45 - 5 - 119 47
Deposits with F.R. Banks, other than reserve balances 2,005,027 + 178,336 +1,748,765 1,991,237
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,804,944 + 149,624 +1,611,582 1,777,180
Foreign official 16,231 - 1 + 10,975 16,224
Other (13) 183,852 + 28,714 + 126,208 197,833
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 49,158 - 1,288 + 4,681 47,874

Total factors, other than reserve balances,
absorbing reserve funds 4,368,211 + 176,916 +2,031,902 4,353,716

Reserve balances with Federal Reserve Banks 2,631,780 - 145,823 +1,113,458 2,659,658

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 Jul 22, 2020
Jul 22, 2020 Jul 15, 2020 Jul 24, 2019

Securities held in custody for foreign official and
international accounts 3,402,313 - 2,809 - 58,619 3,403,643
Marketable U.S. Treasury securities (1) 2,952,275 + 433 - 77,627 2,955,384
Federal agency debt and mortgage-backed securities (2) 365,055 - 3,560 + 14,039 363,034
Other securities (3) 84,983 + 319 + 4,969 85,225
Securities lent to dealers 23,382 - 4,600 - 1,155 27,207
Overnight facility (4) 23,382 - 4,600 - 1,155 27,207
U.S. Treasury securities 23,382 - 4,600 - 1,155 27,207
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, July 22, 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) 7,225 10,723 6,101 68,503 0 ... 92,552
U.S. Treasury securities (2)
Holdings 74,899 259,225 637,534 1,607,135 745,867 941,219 4,265,878
Weekly changes + 16,004 - 20,155 + 4,150 + 2,296 + 7,738 + 2,615 + 12,649
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 2,347 79,132 1,889,116 1,970,600
Weekly changes 0 0 0 + 54 + 170 + 21,988 + 22,212
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 1,459 86 0 ... ... ... 1,545
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 14 ... ... 14
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 0 937 ... ... 937
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 28,173 93,819 0 0 0 0 121,992
Reverse repurchase agreements (9) 214,665 0 ... ... ... ... 214,665
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
Jul 22, 2020

Mortgage-backed securities held outright (1) 1,970,600
Residential mortgage-backed securities 1,961,421
Commercial mortgage-backed securities 9,179

Commitments to buy mortgage-backed securities (2) 75,115
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 36

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 Jul 22, 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 1,541 1,545 8,560 10,105
Corporate Credit Facilities LLC 11,791 12,100 31,947 44,046
MS Facilities LLC (Main Street Lending Program) 14 14 37,504 37,518
Municipal Liquidity Facility LLC 1,200 1,200 14,885 16,085
TALF II LLC 937 937 8,502 9,439

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,
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 Jul 22, 2020 Wednesday Wednesday
consolidation Jul 15, 2020 Jul 24, 2019

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,522 - 1 - 159
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,646,714 + 36,666 +2,911,656
Securities held outright (1) 6,238,825 + 34,860 +2,620,886
U.S. Treasury securities 4,265,878 + 12,649 +2,171,827
Bills (2) 326,044 0 + 326,042
Notes and bonds, nominal (2) 3,636,425 + 11,336 +1,682,054
Notes and bonds, inflation-indexed (2) 268,113 + 1,199 + 152,124
Inflation compensation (3) 35,296 + 114 + 11,607
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 1,970,600 + 22,212 + 449,058
Unamortized premiums on securities held outright
(5) 320,498 + 2,541 + 190,731
Unamortized discounts on securities held outright
(5) -5,161 + 119 + 7,616
Repurchase agreements (6) 0 - 2 0
Loans (7) 92,552 - 852 + 92,423
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 10,105 - 554 + 10,105
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 44,046 + 623 + 44,046
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 37,518 + 3 + 37,518
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,085 + 1 + 16,085
Net portfolio holdings of TALF II LLC (8) 9,439 0 + 9,439
Items in process of collection (0) 52 - 1 - 56
Bank premises 2,199 + 1 + 10
Central bank liquidity swaps (9) 121,992 - 32,858 + 121,981
Foreign currency denominated assets (10) 21,267 + 173 + 515
Other assets (11) 37,579 + 2,098 + 10,179

Total assets (0) 6,964,755 + 6,151 +3,161,319

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 Jul 22, 2020 Wednesday Wednesday
consolidation Jul 15, 2020 Jul 24, 2019

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,937,015 + 4,236 + 239,052
Reverse repurchase agreements (12) 214,665 - 9,564 - 67,731
Deposits (0) 4,650,895 + 12,926 +2,872,553
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,659,658 - 72,991 +1,134,318
U.S. Treasury, General Account 1,777,180 + 36,725 +1,598,953
Foreign official 16,224 - 8 + 10,969
Other (13) (0) 197,833 + 49,200 + 128,313
Deferred availability cash items (0) 307 + 27 - 300
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 9,113 - 1,473 + 4,212

Total liabilities (0) 6,925,994 + 6,151 +3,161,785

Capital accounts
Capital paid in 31,936 0 - 465
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 38,761 0 - 465

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, July 22, 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 1,522 34 41 121 88 211 157 246 29 44 93 169 288
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,646,714 167,104 3,411,452 156,096 207,034 416,696 487,379 370,042 105,594 66,572 110,688 318,858 829,199
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 10,105 0 10,105 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 44,046 0 44,046 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 37,518 37,518 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,085 0 16,085 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 9,439 0 9,439 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 121,992 5,791 40,997 4,390 10,425 25,749 6,050 4,737 2,000 955 1,287 1,448 18,163
Foreign currency denominated
assets (4) 21,267 1,009 7,149 765 1,817 4,488 1,055 826 349 167 224 252 3,166
Other assets (5) 39,830 2,522 17,875 961 1,306 2,776 2,998 2,251 778 498 922 2,112 4,831
Interdistrict settlement account 0 - 61,675 + 562,882 - 18,901 + 4,292 - 57,136 - 111,791 - 30,277 - 25,463 - 14,768 - 24,417 - 39,382 - 183,363

Total assets 6,964,755 152,835 4,125,554 143,961 225,723 393,949 388,031 348,962 83,766 53,738 89,247 284,660 674,329

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, July 22, 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 1,937,015 58,278 652,002 57,064 89,563 124,390 267,588 126,315 58,674 30,781 52,954 164,138 255,270
Reverse repurchase agreements (6) 214,665 4,821 111,144 4,898 6,716 13,454 15,820 11,990 3,392 2,029 3,414 10,346 26,642
Deposits 4,650,895 48,514 3,270,264 80,317 125,812 247,123 102,186 208,602 20,846 20,140 32,211 109,099 385,780
Depository institutions 2,659,658 48,471 1,364,757 80,316 125,777 246,376 102,141 125,704 20,843 20,085 32,175 107,241 385,773
U.S. Treasury, General Account 1,777,180 0 1,777,180 0 0 0 0 0 0 0 0 0 0
Foreign official 16,224 2 16,197 1 3 8 2 2 1 0 0 0 6
Other (7) 197,833 41 112,130 0 32 738 44 82,896 3 55 36 1,858 1
Earnings remittances due to the U.S.
Treasury (8) 1,874 49 929 45 62 148 138 103 34 13 34 85 234
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 7,545 343 3,208 230 271 648 546 437 185 449 218 342 667

Total liabilities 6,925,994 151,005 4,112,547 142,554 222,424 385,763 386,278 347,447 83,131 53,412 88,831 284,008 668,593

Capital
Capital paid in 31,936 1,506 10,714 1,161 2,715 6,745 1,414 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 6,964,755 152,835 4,125,554 143,961 225,723 393,949 388,031 348,962 83,766 53,738 89,247 284,660 674,329

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, July 22, 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) 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. 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
Jul 22, 2020

Federal Reserve notes outstanding 2,090,415
Less: Notes held by F.R. Banks not subject to collateralization 153,400
Federal Reserve notes to be collateralized 1,937,015
Collateral held against Federal Reserve notes 1,937,015
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,920,778
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,238,825
Less: Face value of securities under reverse repurchase agreements 202,445
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,036,380

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