FRB: H.4.1 Release--Factors Affecting Reserve Balances-- June 24, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks June 24, 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 23, 2021
Federal Reserve Banks Jun 23, 2021 Jun 16, 2021 Jun 24, 2020

Reserve Bank credit 8,051,022 + 86,299 +1,041,358 8,062,918
Securities held outright (1) 7,509,628 + 84,264 +1,394,498 7,519,947
U.S. Treasury securities 5,158,071 + 16,222 + 974,703 5,163,445
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,430,859 + 14,002 + 874,145 4,433,973
Notes and bonds, inflation-indexed (2) 347,544 + 1,315 + 82,992 349,258
Inflation compensation (3) 53,624 + 905 + 17,566 54,170
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,349,210 + 68,042 + 419,795 2,354,155
Unamortized premiums on securities held outright (5) 352,028 + 1,512 + 39,845 352,226
Unamortized discounts on securities held outright (5) -13,987 - 40 - 8,647 -14,101
Repurchase agreements (6) 0 0 - 73,129 0
Foreign official 0 0 0 0
Others 0 0 - 73,129 0
Loans 86,597 - 1,246 - 7,361 87,605
Primary credit 596 + 86 - 6,527 461
Secondary credit 0 0 0 0
Seasonal credit 11 + 2 - 1 14
Primary Dealer Credit Facility 0 0 - 3,980 0
Money Market Mutual Fund Liquidity Facility 0 0 - 23,468 0
Paycheck Protection Program Liquidity Facility 85,989 - 1,335 + 26,615 87,129
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,554 0 - 4,243 8,554
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 25,847 - 7 - 14,109 25,863
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,530 - 31 - 2,150 30,538
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 10,736 + 2 - 5,343 10,738
Net portfolio holdings of TALF II LLC (7) 4,762 0 - 2,524 4,762
Float -113 + 12 + 70 -171
Central bank liquidity swaps (8) 475 - 25 - 276,222 483
Other Federal Reserve assets (9) 35,965 + 1,858 + 671 36,474
Foreign currency denominated assets (10) 21,313 - 283 + 393 21,331
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,698 + 14 + 449 50,698

Total factors supplying reserve funds 8,139,273 + 86,030 +1,042,198 8,151,188

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 23, 2021
Federal Reserve Banks Jun 23, 2021 Jun 16, 2021 Jun 24, 2020

Currency in circulation (11) 2,178,457 - 150 + 217,299 2,179,557
Reverse repurchase agreements (12) 1,012,189 + 250,908 + 788,424 1,055,931
Foreign official and international accounts 245,395 + 25,937 + 21,634 242,281
Others 766,794 + 224,971 + 766,790 813,650
Treasury cash holdings 43 0 - 37 42
Deposits with F.R. Banks, other than reserve balances 1,040,050 - 28,601 - 791,115 1,051,325
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 734,689 + 80,800 - 889,253 733,877
Foreign official 5,701 - 21,459 - 10,526 6,769
Other (13) 299,661 - 87,941 + 108,664 310,679
Treasury contributions to credit facilities (14) 50,278 0 - 63,722 50,278
Other liabilities and capital (15) 50,214 - 4,131 + 2,064 48,342

Total factors, other than reserve balances,
absorbing reserve funds 4,331,231 + 218,026 + 152,913 4,385,475

Reserve balances with Federal Reserve Banks 3,808,042 - 131,996 + 889,286 3,765,713

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.
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 23, 2021
Jun 23, 2021 Jun 16, 2021 Jun 24, 2020

Securities held in custody for foreign official and
international accounts 3,540,219 + 1,774 + 110,339 3,539,524
Marketable U.S. Treasury securities (1) 3,099,023 + 522 + 130,140 3,095,984
Federal agency debt and mortgage-backed securities (2) 352,180 + 1,631 - 23,705 354,240
Other securities (3) 89,017 - 378 + 3,904 89,301
Securities lent to dealers 40,923 + 4,540 + 11,724 42,750
Overnight facility (4) 40,923 + 4,540 + 11,724 42,750
U.S. Treasury securities 40,923 + 4,540 + 11,724 42,750
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 23, 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) 143 333 16,055 71,075 0 ... 87,605
U.S. Treasury securities (2)
Holdings 80,188 299,927 647,609 1,983,709 947,593 1,204,418 5,163,445
Weekly changes + 816 + 7,818 - 8,574 + 1,669 + 4,344 + 3,599 + 9,674
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 1,840 66,486 2,285,814 2,354,155
Weekly changes 0 0 0 + 3 + 14 + 26,014 + 26,031
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 16,263 ... ... 16,263
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 0 4,982 ... ... 4,982
Loans held by TALF II LLC (8) 0 0 0 1,628 ... ... 1,628
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 135 348 0 0 0 0 483
Reverse repurchase agreements (9) 1,055,931 0 ... ... ... ... 1,055,931
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 23, 2021

Mortgage-backed securities held outright (1) 2,354,155
Residential mortgage-backed securities 2,344,383
Commercial mortgage-backed securities 9,772

Commitments to buy mortgage-backed securities (2) 143,146
Commitments to sell mortgage-backed securities (2) 84

Cash and cash equivalents (3) 119

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 23, 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 13,609 11,573 14,290 25,863
MS Facilities LLC (Main Street Lending Program) 16,228 13,605 16,932 30,538
Municipal Liquidity Facility LLC 5,358 4,982 5,756 10,738
TALF II LLC 1,733 1,628 3,134 4,762

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 23, 2021 Wednesday Wednesday
consolidation Jun 16, 2021 Jun 24, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,236 - 2 - 219
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,945,677 + 36,643 +1,328,387
Securities held outright (1) 7,519,947 + 35,705 +1,376,754
U.S. Treasury securities 5,163,445 + 9,674 + 966,041
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,433,973 + 6,601 + 863,049
Notes and bonds, inflation-indexed (2) 349,258 + 1,999 + 84,706
Inflation compensation (3) 54,170 + 1,074 + 18,286
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,354,155 + 26,031 + 410,714
Unamortized premiums on securities held outright
(5) 352,226 + 678 + 38,372
Unamortized discounts on securities held outright
(5) -14,101 - 160 - 8,782
Repurchase agreements (6) 0 0 - 70,201
Loans (7) 87,605 + 420 - 7,755
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,554 0 - 4,244
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 25,863 + 19 - 14,754
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,538 + 9 - 6,964
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 10,738 + 2 - 5,342
Net portfolio holdings of TALF II LLC (8) 4,762 0 - 3,738
Items in process of collection (0) 52 - 11 - 21
Bank premises 1,917 0 - 285
Central bank liquidity swaps (9) 483 - 17 - 274,480
Foreign currency denominated assets (10) 21,331 - 258 + 373
Other assets (11) 34,558 + 1,306 + 930

Total assets (0) 8,101,945 + 37,688 +1,019,643

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 23, 2021 Wednesday Wednesday
consolidation Jun 16, 2021 Jun 24, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,130,133 + 588 + 215,026
Reverse repurchase agreements (12) 1,055,931 + 312,171 + 835,569
Deposits (0) 4,817,038 - 272,740 + 31,001
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,765,714 - 140,022 + 828,057
U.S. Treasury, General Account 733,877 - 31,237 - 852,696
Foreign official 6,769 - 20,186 - 9,453
Other (13) (0) 310,679 - 81,293 + 65,093
Deferred availability cash items (0) 223 + 65 - 62
Treasury contributions to credit facilities (14) 50,278 0 - 63,722
Other liabilities and accrued dividends (15) 8,738 - 2,397 + 1,139

Total liabilities (0) 8,062,341 + 37,687 +1,018,950

Capital accounts
Capital paid in 32,819 + 1 + 733
Surplus 6,785 0 - 40
Other capital accounts 0 0 0

Total capital 39,604 + 1 + 693

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.
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 23, 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 1,236 18 26 110 53 179 113 229 15 33 86 143 230
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,945,677 131,493 4,453,574 170,572 301,205 528,380 461,428 429,729 103,592 85,930 106,577 348,613 824,584
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) 25,863 0 25,863 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,538 30,538 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 10,738 0 10,738 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 4,762 0 4,762 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 483 22 162 17 42 101 22 19 9 4 5 9 71
Foreign currency denominated
assets (4) 21,331 968 7,170 766 1,844 4,439 965 836 406 181 231 384 3,141
Other assets (5) 36,527 694 19,095 866 1,374 2,709 2,237 2,014 752 440 789 1,853 3,703
Interdistrict settlement account 0 + 23,461 - 257,734 + 30,734 + 556 - 19,791 + 38,533 + 85,147 + 11,645 - 12,720 + 9,885 + 18,942 + 71,342

Total assets 8,101,945 187,725 4,277,633 203,588 305,827 517,203 505,486 519,109 116,893 74,141 118,028 371,164 905,147

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 23, 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 2,130,133 64,258 698,373 63,317 104,395 156,875 299,646 127,068 57,851 32,337 53,415 191,813 280,785
Reverse repurchase agreements (6) 1,055,931 17,646 596,871 22,302 38,421 70,756 61,869 57,622 13,767 8,170 14,022 46,695 107,790
Deposits 4,817,038 89,447 2,930,159 116,139 159,071 280,455 141,431 332,175 44,284 33,000 49,874 131,294 509,710
Depository institutions 3,765,714 89,430 2,052,556 116,138 159,030 280,005 141,299 161,326 44,272 32,690 48,472 130,815 509,682
U.S. Treasury, General Account 733,877 0 733,877 0 0 0 0 0 0 0 0 0 0
Foreign official 6,769 2 6,742 1 3 8 2 2 1 0 0 1 6
Other (7) 310,679 16 136,983 0 38 442 130 170,847 11 309 1,402 478 22
Earnings remittances due to the U.S.
Treasury (8) 2,051 21 1,252 35 60 98 125 110 23 13 24 97 193
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 6,910 -1,998 4,006 294 372 852 621 593 226 395 257 435 855

Total liabilities 8,062,341 185,945 4,264,367 202,088 302,319 509,035 503,693 517,568 116,151 73,916 117,593 370,333 899,332

Capital
Capital paid in 32,819 1,472 10,986 1,257 2,921 6,756 1,486 1,275 613 167 361 709 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 8,101,945 187,725 4,277,633 203,588 305,827 517,203 505,486 519,109 116,893 74,141 118,028 371,164 905,147

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 23, 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; 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 23, 2021

Federal Reserve notes outstanding 2,323,845
Less: Notes held by F.R. Banks not subject to collateralization 193,712
Federal Reserve notes to be collateralized 2,130,133
Collateral held against Federal Reserve notes 2,130,133
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,113,896
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,519,947
Less: Face value of securities under reverse repurchase agreements 995,660
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,524,286

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