FRB: H.4.1 Release--Factors Affecting Reserve Balances-- October 01, 2020

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks October 1, 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 Sep 30, 2020
Federal Reserve Banks Sep 30, 2020 Sep 23, 2020 Oct 2, 2019

Reserve Bank credit 7,016,405 - 15,657 +3,123,980 7,015,460
Securities held outright (1) 6,429,943 - 8,535 +2,847,619 6,430,599
U.S. Treasury securities 4,438,807 + 22,702 +2,326,089 4,445,477
Bills (2) 326,044 0 + 320,042 326,044
Notes and bonds, nominal (2) 3,785,348 + 20,795 +1,821,674 3,790,453
Notes and bonds, inflation-indexed (2) 287,352 + 1,434 + 168,672 288,760
Inflation compensation (3) 40,064 + 474 + 15,701 40,220
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,988,789 - 31,238 + 521,531 1,982,775
Unamortized premiums on securities held outright (5) 333,204 + 259 + 206,116 333,422
Unamortized discounts on securities held outright (5) -4,736 + 134 + 7,950 -4,736
Repurchase agreements (6) 429 + 429 - 171,371 1,000
Foreign official 429 + 429 + 429 1,000
Others 0 0 - 171,800 0
Loans 77,499 - 425 + 77,401 78,373
Primary credit 3,114 - 23 + 3,105 3,437
Secondary credit 0 0 0 0
Seasonal credit 41 + 6 - 49 42
Primary Dealer Credit Facility 233 0 + 233 233
Money Market Mutual Fund Liquidity Facility 7,196 - 181 + 7,196 7,088
Paycheck Protection Program Liquidity Facility 66,914 - 227 + 66,914 67,573
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,588 0 + 8,588 8,589
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 45,026 + 52 + 45,026 45,042
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 39,519 + 342 + 39,519 39,718
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,546 + 1 + 16,546 16,547
Net portfolio holdings of TALF II LLC (7) 11,516 + 85 + 11,516 11,715
Float -502 - 298 + 90 -1,329
Central bank liquidity swaps (8) 25,399 - 7,211 + 24,426 23,895
Other Federal Reserve assets (9) 33,975 - 490 + 10,555 32,625
Foreign currency denominated assets (10) 21,475 - 205 + 918 21,553
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,411 + 14 + 417 50,411

Total factors supplying reserve funds 7,104,532 - 15,848 +3,125,314 7,103,665

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 Sep 30, 2020
Federal Reserve Banks Sep 30, 2020 Sep 23, 2020 Oct 2, 2019

Currency in circulation (11) 2,029,931 + 1,523 + 267,135 2,032,544
Reverse repurchase agreements (12) 202,522 + 2,218 - 89,459 205,233
Foreign official and international accounts 202,214 + 1,918 - 84,911 204,383
Others 308 + 300 - 4,547 850
Treasury cash holdings 38 - 9 - 143 25
Deposits with F.R. Banks, other than reserve balances 1,870,890 - 26,820 +1,460,380 1,961,073
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,679,152 - 1,536 +1,343,981 1,781,679
Foreign official 18,878 + 7 + 13,692 18,916
Other (13) 172,860 - 25,292 + 102,707 160,477
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 47,834 - 1,579 + 3,283 47,545

Total factors, other than reserve balances,
absorbing reserve funds 4,265,216 - 24,665 +1,755,198 4,360,419

Reserve balances with Federal Reserve Banks 2,839,316 + 8,817 +1,370,116 2,743,245

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 Sep 30, 2020
Sep 30, 2020 Sep 23, 2020 Oct 2, 2019

Securities held in custody for foreign official and
international accounts 3,412,119 - 11,986 - 29,308 3,408,450
Marketable U.S. Treasury securities (1) 2,980,332 - 7,149 - 19,035 2,977,320
Federal agency debt and mortgage-backed securities (2) 346,362 - 4,612 - 13,319 345,547
Other securities (3) 85,425 - 224 + 3,046 85,583
Securities lent to dealers 25,352 + 975 - 6,500 30,709
Overnight facility (4) 25,352 + 975 - 6,500 30,709
U.S. Treasury securities 25,352 + 975 - 6,500 30,709
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, September 30, 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) 2,297 4,581 3,923 67,573 0 ... 78,373
U.S. Treasury securities (2)
Holdings 56,106 238,394 694,799 1,673,536 788,868 993,773 4,445,477
Weekly changes - 16,106 - 9,604 + 22,827 + 8,237 + 1,578 + 7,021 + 13,954
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 4 2,128 77,419 1,903,224 1,982,775
Weekly changes 0 0 - 1 - 97 - 1,553 - 40,441 - 42,093
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 30 0 0 ... ... ... 30
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 2,195 ... ... 2,195
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 451 ... ... 1,651
Loans held by TALF II LLC (8) 0 0 0 3,180 ... ... 3,180
Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000
Central bank liquidity swaps (10) 17,640 6,256 0 0 0 0 23,895
Reverse repurchase agreements (9) 205,233 0 ... ... ... ... 205,233
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
Sep 30, 2020

Mortgage-backed securities held outright (1) 1,982,775
Residential mortgage-backed securities 1,973,276
Commercial mortgage-backed securities 9,500

Commitments to buy mortgage-backed securities (2) 134,799
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 3

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 Sep 30, 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 8,559 8,589
Corporate Credit Facilities LLC 12,875 13,022 32,021 45,042
MS Facilities LLC (Main Street Lending Program) 2,195 2,195 37,523 39,718
Municipal Liquidity Facility LLC 1,651 1,651 14,896 16,547
TALF II LLC 3,207 3,180 8,535 11,715

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 Sep 30, 2020 Wednesday Wednesday
consolidation Sep 23, 2020 Oct 2, 2019

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,477 + 10 - 225
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,838,658 - 27,426 +2,956,248
Securities held outright (1) 6,430,599 - 28,139 +2,843,861
U.S. Treasury securities 4,445,477 + 13,954 +2,328,347
Bills (2) 326,044 0 + 320,042
Notes and bonds, nominal (2) 3,790,453 + 10,622 +1,823,089
Notes and bonds, inflation-indexed (2) 288,760 + 2,842 + 169,368
Inflation compensation (3) 40,220 + 489 + 15,848
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 1,982,775 - 42,093 + 515,515
Unamortized premiums on securities held outright
(5) 333,422 - 529 + 206,267
Unamortized discounts on securities held outright
(5) -4,736 + 101 + 7,910
Repurchase agreements (6) 1,000 + 1,000 - 180,050
Loans (7) 78,373 + 142 + 78,259
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,589 + 1 + 8,589
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 45,042 + 70 + 45,042
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 39,718 + 363 + 39,718
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,547 + 1 + 16,547
Net portfolio holdings of TALF II LLC (8) 11,715 + 284 + 11,715
Items in process of collection (0) 72 + 13 + 23
Bank premises 2,201 + 6 + 18
Central bank liquidity swaps (9) 23,895 - 8,055 + 22,922
Foreign currency denominated assets (10) 21,553 + 43 + 854
Other assets (11) 30,425 - 2,342 + 8,846

Total assets (0) 7,056,129 - 37,032 +3,110,298

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 Sep 30, 2020 Wednesday Wednesday
consolidation Sep 23, 2020 Oct 2, 2019

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,983,630 + 3,423 + 266,157
Reverse repurchase agreements (12) 205,233 + 881 - 83,385
Deposits (0) 4,704,319 - 42,126 +2,809,381
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,743,246 - 104,839 +1,256,536
U.S. Treasury, General Account 1,781,679 + 119,947 +1,446,494
Foreign official 18,916 + 45 + 13,730
Other (13) (0) 160,477 - 57,280 + 92,621
Deferred availability cash items (0) 1,402 + 897 + 916
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 8,328 - 215 + 3,323

Total liabilities (0) 7,016,912 - 37,141 +3,110,393

Capital accounts
Capital paid in 32,392 + 109 - 95
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 39,217 + 109 - 95

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, September 30, 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 1,477 28 31 119 83 206 146 246 25 43 101 165 284
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,838,658 160,935 3,512,584 161,391 213,723 428,068 502,563 381,639 108,733 71,006 113,557 328,918 855,542
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,589 0 8,589 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 45,042 0 45,042 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 39,718 39,718 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,547 0 16,547 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 11,715 0 11,715 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 23,895 1,134 8,030 860 2,042 5,044 1,185 928 392 187 252 284 3,558
Foreign currency denominated
assets (4) 21,553 1,022 7,254 775 1,840 4,546 1,068 836 353 169 227 256 3,206
Other assets (5) 32,698 2,340 14,239 812 1,085 2,312 2,494 1,858 666 443 812 1,674 3,964
Interdistrict settlement account 0 - 25,623 + 390,412 - 33,338 + 50,960 + 14,416 - 98,603 - 10,113 - 24,442 - 14,692 - 24,721 - 48,271 - 175,985

Total assets 7,056,129 180,089 4,019,925 131,147 270,494 455,757 411,036 376,531 86,205 57,425 90,677 284,228 692,614

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, September 30, 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 1,983,630 61,500 661,347 56,186 93,739 131,325 281,527 127,766 59,241 33,454 54,379 167,097 256,070
Reverse repurchase agreements (6) 205,233 4,609 106,261 4,682 6,421 12,863 15,125 11,463 3,243 1,940 3,264 9,891 25,472
Deposits 4,704,319 72,750 3,160,567 68,610 166,635 302,640 111,930 235,260 22,779 20,157 32,382 106,167 404,443
Depository institutions 2,743,246 72,734 1,317,651 68,609 164,234 302,288 108,247 124,931 22,764 20,092 32,344 104,955 404,396
U.S. Treasury, General Account 1,781,679 0 1,781,679 0 0 0 0 0 0 0 0 0 0
Foreign official 18,916 2 18,890 1 3 8 2 2 1 0 0 0 6
Other (7) 160,477 14 42,347 0 2,397 344 3,681 110,327 14 65 37 1,211 41
Earnings remittances due to the U.S.
Treasury (8) 1,132 21 596 17 34 65 92 63 15 14 13 55 147
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 8,597 378 2,983 243 285 684 566 448 200 1,533 219 357 701

Total liabilities 7,016,912 178,257 4,006,754 129,740 267,113 447,578 409,240 375,000 85,477 57,097 90,257 283,566 686,834

Capital
Capital paid in 32,392 1,508 10,878 1,162 2,797 6,738 1,458 1,266 616 275 349 581 4,764
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 7,056,129 180,089 4,019,925 131,147 270,494 455,757 411,036 376,531 86,205 57,425 90,677 284,228 692,614

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, September 30, 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 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
Sep 30, 2020

Federal Reserve notes outstanding 2,133,002
Less: Notes held by F.R. Banks not subject to collateralization 149,372
Federal Reserve notes to be collateralized 1,983,630
Collateral held against Federal Reserve notes 1,983,630
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,967,393
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,431,599
Less: Face value of securities under reverse repurchase agreements 195,169
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,236,430

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