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.