FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 13, 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 Aug 12, 2020 Federal Reserve Banks Aug 12, 2020 Aug 5, 2020 Aug 14, 2019 Reserve Bank credit 6,911,119 + 8,854 +3,166,725 6,917,675 Securities held outright (1) 6,250,680 + 15,780 +2,655,163 6,255,988 U.S. Treasury securities 4,314,797 + 15,700 +2,234,089 4,320,093 Bills (2) 326,044 0 + 326,044 326,044 Notes and bonds, nominal (2) 3,678,950 + 13,564 +1,738,554 3,681,769 Notes and bonds, inflation-indexed (2) 273,649 + 1,600 + 157,104 275,707 Inflation compensation (3) 36,154 + 536 + 12,387 36,573 Federal agency debt securities (2) 2,347 0 0 2,347 Mortgage-backed securities (4) 1,933,536 + 80 + 421,074 1,933,548 Unamortized premiums on securities held outright (5) 322,532 + 1,190 + 193,584 322,962 Unamortized discounts on securities held outright (5) -4,912 + 83 + 7,805 -4,880 Repurchase agreements (6) 0 0 0 0 Foreign official 0 0 0 0 Others 0 0 0 0 Loans 83,459 - 4,353 + 83,360 83,084 Primary credit 2,693 - 836 + 2,692 2,690 Secondary credit 0 0 0 0 Seasonal credit 39 + 5 - 59 40 Primary Dealer Credit Facility 794 - 397 + 794 693 Money Market Mutual Fund Liquidity Facility 11,758 - 1,375 + 11,758 11,484 Paycheck Protection Program Liquidity Facility 68,111 - 1,812 + 68,111 68,177 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC (7) 8,632 - 229 + 8,632 8,603 Net portfolio holdings of Corporate Credit Facilities LLC (7) 44,403 + 123 + 44,403 44,413 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (7) 37,620 + 26 + 37,620 37,734 Net portfolio holdings of Municipal Liquidity Facility LLC (7) 16,087 + 1 + 16,087 16,088 Net portfolio holdings of TALF II LLC (7) 10,123 0 + 10,123 10,124 Float -190 + 230 - 63 -289 Central bank liquidity swaps (8) 99,782 - 7,184 + 99,737 99,782 Other Federal Reserve assets (9) 42,903 + 3,188 + 10,275 44,067 Foreign currency denominated assets (10) 21,571 - 106 + 558 21,518 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 50,468 + 14 + 507 50,468 Total factors supplying reserve funds 6,999,399 + 8,763 +3,167,791 7,005,903 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 Aug 12, 2020 Federal Reserve Banks Aug 12, 2020 Aug 5, 2020 Aug 14, 2019 Currency in circulation (11) 2,003,188 + 6,407 + 255,512 2,006,288 Reverse repurchase agreements (12) 217,399 - 2,386 - 70,228 218,346 Foreign official and international accounts 217,383 - 2,293 - 66,760 218,243 Others 16 - 93 - 3,468 103 Treasury cash holdings 46 - 2 - 122 55 Deposits with F.R. Banks, other than reserve balances 1,825,445 - 73,297 +1,625,334 1,789,857 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 1,669,733 - 75,495 +1,539,776 1,635,143 Foreign official 16,222 - 6 + 10,967 16,222 Other (13) 139,490 + 2,204 + 74,591 138,492 Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000 Other liabilities and capital (15) 50,359 + 2,366 + 4,739 49,186 Total factors, other than reserve balances, absorbing reserve funds 4,210,438 - 66,912 +1,929,236 4,177,733 Reserve balances with Federal Reserve Banks 2,788,961 + 75,674 +1,238,555 2,828,170 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 Aug 12, 2020 Aug 12, 2020 Aug 5, 2020 Aug 14, 2019 Securities held in custody for foreign official and international accounts 3,407,786 - 773 - 60,012 3,409,759 Marketable U.S. Treasury securities (1) 2,962,551 - 642 - 66,594 2,964,756 Federal agency debt and mortgage-backed securities (2) 359,267 + 63 + 1,521 359,267 Other securities (3) 85,968 - 194 + 5,061 85,735 Securities lent to dealers 26,792 - 1,289 - 2,257 28,810 Overnight facility (4) 26,792 - 1,289 - 2,257 28,810 U.S. Treasury securities 26,792 - 1,289 - 2,257 28,810 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, August 12, 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) 2,933 6,470 5,504 68,177 0 ... 83,084 U.S. Treasury securities (2) Holdings 116,715 222,451 632,529 1,642,529 754,625 951,244 4,320,093 Weekly changes - 3,114 + 13,543 - 10,400 + 3,285 + 9,162 + 1,964 + 14,442 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 2,266 78,043 1,853,234 1,933,548 Weekly changes 0 0 0 0 + 81 + 1 + 82 Commercial paper held by Commercial Paper Funding Facility II LLC (5) 0 30 0 ... ... ... 30 Loan participations held by MS Facilities LLC (Main Street Lending Program) (6) 0 0 0 226 ... ... 226 Municipal notes held by Municipal Liquidity Facility LLC (7) 0 0 1,200 0 ... ... 1,200 Loans held by TALF II LLC (8) 6 0 0 1,613 ... ... 1,619 Repurchase agreements (9) 0 0 ... ... ... ... 0 Central bank liquidity swaps (10) 12,460 87,322 0 0 0 0 99,782 Reverse repurchase agreements (9) 218,346 0 ... ... ... ... 218,346 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 Aug 12, 2020 Mortgage-backed securities held outright (1) 1,933,548 Residential mortgage-backed securities 1,924,219 Commercial mortgage-backed securities 9,329 Commitments to buy mortgage-backed securities (2) 167,661 Commitments to sell mortgage-backed securities (2) 20,413 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 Aug 12, 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 30 30 8,573 8,603 Corporate Credit Facilities LLC 12,197 12,435 31,978 44,413 MS Facilities LLC (Main Street Lending Program) 226 226 37,508 37,734 Municipal Liquidity Facility LLC 1,200 1,200 14,888 16,088 TALF II LLC 1,619 1,619 8,504 10,124 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 Aug 12, 2020 Wednesday Wednesday consolidation Aug 5, 2020 Aug 14, 2019 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,513 - 20 - 202 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,657,154 + 14,893 +2,943,641 Securities held outright (1) 6,255,988 + 14,524 +2,658,757 U.S. Treasury securities 4,320,093 + 14,442 +2,239,383 Bills (2) 326,044 0 + 326,044 Notes and bonds, nominal (2) 3,681,769 + 11,334 +1,741,373 Notes and bonds, inflation-indexed (2) 275,707 + 2,401 + 159,162 Inflation compensation (3) 36,573 + 707 + 12,804 Federal agency debt securities (2) 2,347 0 0 Mortgage-backed securities (4) 1,933,548 + 82 + 419,374 Unamortized premiums on securities held outright (5) 322,962 + 1,293 + 194,074 Unamortized discounts on securities held outright (5) -4,880 + 68 + 7,826 Repurchase agreements (6) 0 0 0 Loans (7) 83,084 - 992 + 82,984 Net portfolio holdings of Commercial Paper Funding Facility II LLC (8) 8,603 - 43 + 8,603 Net portfolio holdings of Corporate Credit Facilities LLC (8) 44,413 + 62 + 44,413 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (8) 37,734 + 133 + 37,734 Net portfolio holdings of Municipal Liquidity Facility LLC (8) 16,088 + 1 + 16,088 Net portfolio holdings of TALF II LLC (8) 10,124 + 1 + 10,124 Items in process of collection (0) 45 - 14 - 14 Bank premises 2,197 + 5 + 11 Central bank liquidity swaps (9) 99,782 - 5,881 + 99,737 Foreign currency denominated assets (10) 21,518 - 228 + 578 Other assets (11) 41,870 + 3,132 + 10,547 Total assets (0) 6,957,277 + 12,040 +3,171,259 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 Aug 12, 2020 Wednesday Wednesday consolidation Aug 5, 2020 Aug 14, 2019 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,957,384 + 5,389 + 256,024 Reverse repurchase agreements (12) 218,346 + 5,898 - 80,195 Deposits (0) 4,618,027 + 346 +2,877,307 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 2,828,170 + 74,639 +1,316,906 U.S. Treasury, General Account 1,635,143 - 71,494 +1,504,162 Foreign official 16,222 - 6 + 10,967 Other (13) (0) 138,492 - 2,792 + 45,272 Deferred availability cash items (0) 334 + 42 + 100 Treasury contributions to credit facilities (14) 114,000 0 + 114,000 Other liabilities and accrued dividends (15) 10,299 + 353 + 4,417 Total liabilities (0) 6,918,391 + 12,029 +3,171,654 Capital accounts Capital paid in 32,062 + 11 - 394 Surplus 6,825 0 0 Other capital accounts 0 0 0 Total capital 38,887 + 11 - 394 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, August 12, 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 1,513 34 37 123 88 214 151 243 30 44 96 163 290 Securities, unamortized premiums and discounts, repurchase agreements, and loans (1) 6,657,154 161,364 3,417,227 156,398 207,687 417,390 488,653 371,122 105,712 68,525 110,955 319,986 832,135 Net portfolio holdings of Commercial Paper Funding Facility II LLC (2) 8,603 0 8,603 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC (2) 44,413 0 44,413 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (2) 37,734 37,734 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC (2) 16,088 0 16,088 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC (2) 10,124 0 10,124 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps (3) 99,782 4,736 33,533 3,591 8,527 21,061 4,949 3,875 1,636 781 1,052 1,185 14,857 Foreign currency denominated assets (4) 21,518 1,021 7,234 774 1,839 4,541 1,067 836 353 168 227 255 3,203 Other assets (5) 44,112 2,604 20,090 1,062 1,444 3,042 3,306 2,489 865 565 1,000 2,279 5,365 Interdistrict settlement account 0 - 52,002 + 410,324 - 16,730 + 27,381 - 4,823 - 104,502 - 28,043 - 22,433 - 13,764 - 24,612 - 34,481 - 136,314 Total assets 6,957,277 156,024 3,973,155 145,748 247,726 442,590 395,807 351,658 86,642 56,590 89,169 290,588 721,581 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, August 12, 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 1,957,384 60,749 657,870 56,776 92,866 124,748 273,814 126,163 59,234 32,805 52,956 164,871 254,533 Reverse repurchase agreements (6) 218,346 4,903 113,051 4,982 6,831 13,685 16,091 12,196 3,450 2,064 3,472 10,523 27,099 Deposits 4,618,027 49,138 3,109,110 82,299 144,395 295,194 103,405 211,197 23,018 20,917 32,060 114,073 433,220 Depository institutions 2,828,170 49,112 1,416,976 82,298 144,352 294,958 103,373 114,968 23,014 20,862 32,019 113,023 433,214 U.S. Treasury, General Account 1,635,143 0 1,635,143 0 0 0 0 0 0 0 0 0 0 Foreign official 16,222 2 16,195 1 3 8 2 2 1 0 0 0 6 Other (7) 138,492 24 40,795 0 39 228 30 96,228 3 55 40 1,050 0 Earnings remittances due to the U.S. Treasury (8) 2,550 63 1,375 53 65 121 194 142 39 22 39 129 309 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 8,083 341 3,738 231 268 657 548 432 192 455 225 340 656 Total liabilities 6,918,391 154,195 3,960,144 144,341 244,425 434,404 394,051 350,130 85,931 56,263 88,753 289,936 715,818 Capital Capital paid in 32,062 1,506 10,717 1,161 2,718 6,746 1,417 1,263 599 273 344 571 4,747 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 6,957,277 156,024 3,973,155 145,748 247,726 442,590 395,807 351,658 86,642 56,590 89,169 290,588 721,581 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, August 12, 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 Aug 12, 2020 Federal Reserve notes outstanding 2,107,207 Less: Notes held by F.R. Banks not subject to collateralization 149,823 Federal Reserve notes to be collateralized 1,957,384 Collateral held against Federal Reserve notes 1,957,384 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,941,147 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,255,988 Less: Face value of securities under reverse repurchase agreements 206,064 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,049,924 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.