FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time January 14, 2021 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 reflect the Federal Reserve's return of a portion of Treasury's equity investment in the MS Facilities LLC (Main Street Lending Program), which occurred on January 8, 2021. Footnote 14 in Factors Affecting Reserve Balances of Depository Institutions (table 1) and Consolidated Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly. FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 14, 2021 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Jan 13, 2021 Federal Reserve Banks Jan 13, 2021 Jan 6, 2021 Jan 15, 2020 Reserve Bank credit 7,281,407 - 25,469 +3,148,640 7,293,832 Securities held outright (1) 6,751,066 + 17,575 +2,981,146 6,765,622 U.S. Treasury securities 4,709,188 + 17,512 +2,350,094 4,723,733 Bills (2) 326,044 0 + 132,730 326,044 Notes and bonds, nominal (2) 4,023,275 + 15,602 +2,011,730 4,035,981 Notes and bonds, inflation-indexed (2) 316,194 + 1,887 + 187,577 317,909 Inflation compensation (3) 43,675 + 23 + 18,057 43,800 Federal agency debt securities (2) 2,347 0 0 2,347 Mortgage-backed securities (4) 2,039,532 + 64 + 631,053 2,039,542 Unamortized premiums on securities held outright (5) 343,367 + 468 + 218,906 343,632 Unamortized discounts on securities held outright (5) -5,551 - 21 + 7,722 -5,570 Repurchase agreements (6) 1,000 0 - 222,850 1,000 Foreign official 1,000 0 + 1,000 1,000 Others 0 0 - 223,850 0 Loans 52,736 - 2,730 + 52,731 52,152 Primary credit 1,461 - 116 + 1,457 1,514 Secondary credit 0 0 0 0 Seasonal credit 0 0 - 1 0 Primary Dealer Credit Facility 485 0 + 485 485 Money Market Mutual Fund Liquidity Facility 2,129 - 1,135 + 2,129 1,918 Paycheck Protection Program Liquidity Facility 48,661 - 1,479 + 48,661 48,235 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC (7) 8,557 0 + 8,557 8,557 Net portfolio holdings of Corporate Credit Facilities LLC (7) 26,306 - 11,605 + 26,306 26,310 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (7) 36,263 - 17,856 + 36,263 33,282 Net portfolio holdings of Municipal Liquidity Facility LLC (7) 11,602 - 5,562 + 11,602 11,605 Net portfolio holdings of TALF II LLC (7) 6,676 - 3,142 + 6,676 6,677 Float -89 + 283 + 15 -94 Central bank liquidity swaps (8) 11,150 - 6,594 + 11,091 11,150 Other Federal Reserve assets (9) 38,323 + 3,715 + 10,474 39,508 Foreign currency denominated assets (10) 22,200 - 115 + 1,610 22,141 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 50,549 + 14 + 463 50,549 Total factors supplying reserve funds 7,370,397 - 25,569 +3,150,713 7,382,762 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 Jan 13, 2021 Federal Reserve Banks Jan 13, 2021 Jan 6, 2021 Jan 15, 2020 Currency in circulation (11) 2,091,763 + 1,271 + 294,547 2,092,333 Reverse repurchase agreements (12) 202,866 - 9,913 - 63,581 214,173 Foreign official and international accounts 202,866 - 4,397 - 62,922 214,173 Others 0 - 5,516 - 659 0 Treasury cash holdings 32 + 4 - 145 35 Deposits with F.R. Banks, other than reserve balances 1,785,910 - 86,408 +1,361,896 1,773,616 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 1,589,421 - 79,906 +1,238,434 1,575,875 Foreign official 21,848 + 9 + 16,666 21,842 Other (13) 174,641 - 6,511 + 106,795 175,900 Treasury contributions to credit facilities (14) 54,768 - 47,434 + 54,768 51,778 Other liabilities and capital (15) 51,140 + 1,276 + 6,112 49,957 Total factors, other than reserve balances, absorbing reserve funds 4,186,480 - 141,202 +1,653,598 4,181,893 Reserve balances with Federal Reserve Banks 3,183,917 + 115,633 +1,497,116 3,200,869 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 $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, 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 Jan 13, 2021 Jan 13, 2021 Jan 6, 2021 Jan 15, 2020 Securities held in custody for foreign official and international accounts 3,516,891 + 27,772 + 97,148 3,527,814 Marketable U.S. Treasury securities (1) 3,075,496 + 27,565 + 97,041 3,086,358 Federal agency debt and mortgage-backed securities (2) 354,554 - 54 - 4,114 354,541 Other securities (3) 86,842 + 263 + 4,222 86,915 Securities lent to dealers 31,001 - 304 - 628 30,675 Overnight facility (4) 31,001 - 304 - 628 30,675 U.S. Treasury securities 31,001 - 304 - 628 30,675 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, January 13, 2021 Millions of dollars Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All days 90 days 1 year to 5 years to 10 years years Loans (1) 969 2,948 0 48,235 0 ... 52,152 U.S. Treasury securities (2) Holdings 71,125 316,376 649,581 1,781,651 843,174 1,061,826 4,723,733 Weekly changes + 5,543 - 4,255 + 1,608 + 13,124 + 6,298 + 1,994 + 24,312 Federal agency debt securities (3) Holdings 0 0 0 0 1,818 529 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (4) Holdings 0 0 5 2,096 72,116 1,965,324 2,039,542 Weekly changes 0 0 0 0 + 19 + 53 + 73 Commercial paper held by Commercial Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0 Loan participations held by MS Facilities LLC (Main Street Lending Program) (6) 0 0 0 16,600 ... ... 16,600 Municipal notes held by Municipal Liquidity Facility LLC (7) 0 0 925 5,358 ... ... 6,283 Loans held by TALF II LLC (8) 0 0 0 3,438 ... ... 3,438 Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000 Central bank liquidity swaps (10) 2,575 8,576 0 0 0 0 11,150 Reverse repurchase agreements (9) 214,173 0 ... ... ... ... 214,173 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 Jan 13, 2021 Mortgage-backed securities held outright (1) 2,039,542 Residential mortgage-backed securities 2,029,629 Commercial mortgage-backed securities 9,913 Commitments to buy mortgage-backed securities (2) 241,639 Commitments to sell mortgage-backed securities (2) 82 Cash and cash equivalents (3) 1 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 Jan 13, 2021 Net portfolio holdings of Credit Facilities LLCs Outstanding principal Outstanding amount amount of Treasury of loan facility contributions extended to asset and the LLC (1) purchases (2)other assets (3) Total Commercial Paper Funding Facility II LLC 0 0 8,557 8,557 Corporate Credit Facilities LLC 14,058 14,254 12,056 26,310 MS Facilities LLC (Main Street Lending Program) 16,586 16,504 16,779 33,282 Municipal Liquidity Facility LLC 6,283 6,283 5,322 11,605 TALF II LLC 3,656 3,438 3,239 6,677 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, net of an allowance for loan losses updated as of September 30, 2020, 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 approximately 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6. 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Jan 13, 2021 Wednesday Wednesday consolidation Jan 6, 2021 Jan 15, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,572 + 9 - 141 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,156,836 + 22,935 +3,046,870 Securities held outright (1) 6,765,622 + 24,385 +2,996,322 U.S. Treasury securities 4,723,733 + 24,312 +2,361,098 Bills (2) 326,044 0 + 131,015 Notes and bonds, nominal (2) 4,035,981 + 20,536 +2,021,865 Notes and bonds, inflation-indexed (2) 317,909 + 3,602 + 189,904 Inflation compensation (3) 43,800 + 175 + 18,315 Federal agency debt securities (2) 2,347 0 0 Mortgage-backed securities (4) 2,039,542 + 73 + 635,224 Unamortized premiums on securities held outright (5) 343,632 + 639 + 219,222 Unamortized discounts on securities held outright (5) -5,570 - 26 + 7,651 Repurchase agreements (6) 1,000 0 - 228,468 Loans (7) 52,152 - 2,064 + 52,143 Net portfolio holdings of Commercial Paper Funding Facility II LLC (8) 8,557 0 + 8,557 Net portfolio holdings of Corporate Credit Facilities LLC (8) 26,310 - 61 + 26,310 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (8) 33,282 - 20,873 + 33,282 Net portfolio holdings of Municipal Liquidity Facility LLC (8) 11,605 - 75 + 11,605 Net portfolio holdings of TALF II LLC (8) 6,677 + 1 + 6,677 Items in process of collection (0) 93 + 28 + 2 Bank premises 2,210 + 3 + 11 Central bank liquidity swaps (9) 11,150 - 5,761 + 11,091 Foreign currency denominated assets (10) 22,141 - 199 + 1,534 Other assets (11) 37,297 + 3,154 + 12,319 Total assets (0) 7,333,968 - 841 +3,158,118 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 Jan 13, 2021 Wednesday Wednesday consolidation Jan 6, 2021 Jan 15, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,043,387 - 55 + 295,899 Reverse repurchase agreements (12) 214,173 + 7,838 - 46,740 Deposits (0) 4,974,486 + 13,240 +2,851,429 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,200,869 + 37,090 +1,527,507 U.S. Treasury, General Account 1,575,875 - 31,521 +1,195,073 Foreign official 21,842 + 3 + 16,661 Other (13) (0) 175,900 + 7,668 + 112,188 Deferred availability cash items (0) 187 + 10 + 35 Treasury contributions to credit facilities (14) 51,778 - 20,928 + 51,778 Other liabilities and accrued dividends (15) 10,752 - 947 + 5,034 Total liabilities (0) 7,294,763 - 841 +3,157,436 Capital accounts Capital paid in 32,380 0 + 682 Surplus 6,825 0 0 Other capital accounts 0 0 0 Total capital 39,205 0 + 682 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 $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, 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, January 13, 2021 Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Assets Gold certificates and special drawing rights certificates 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045 Coin 1,572 31 41 132 82 208 157 258 33 44 106 186 293 Securities, unamortized premiums and discounts, repurchase agreements, and loans (1) 7,156,836 162,626 3,687,697 167,606 223,714 448,276 525,552 398,326 113,568 75,030 117,267 344,203 892,969 Net portfolio holdings of Commercial Paper Funding Facility II LLC (2) 8,557 0 8,557 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC (2) 26,310 0 26,310 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (2) 33,282 33,282 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC (2) 11,605 0 11,605 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC (2) 6,677 0 6,677 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps (3) 11,150 529 3,747 401 953 2,353 553 433 183 87 118 132 1,660 Foreign currency denominated assets (4) 22,141 1,051 7,443 797 1,892 4,673 1,098 860 363 173 233 263 3,296 Other assets (5) 39,601 2,468 17,703 981 1,301 2,777 3,013 2,237 762 526 930 2,078 4,825 Interdistrict settlement account 0 - 44,413 + 163,522 - 317 + 93,872 + 123,214 - 121,854 - 5,302 - 15,364 - 4,191 - 14,170 - 29,009 - 145,989 Total assets 7,333,968 156,108 3,938,786 170,130 322,574 582,666 410,702 397,949 100,025 71,940 104,933 319,056 759,099 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, January 13, 2021 (continued) Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Liabilities Federal Reserve notes, net 2,043,387 61,791 675,152 56,129 93,426 153,482 280,370 132,508 59,200 33,456 55,023 173,989 268,862 Reverse repurchase agreements (6) 214,173 4,810 110,890 4,886 6,701 13,423 15,784 11,963 3,384 2,024 3,406 10,322 26,581 Deposits 4,974,486 69,061 3,101,463 107,379 218,667 406,652 111,845 251,237 36,452 35,783 45,802 133,514 456,631 Depository institutions 3,200,869 69,045 1,445,632 107,377 218,631 405,545 111,762 137,263 36,451 35,719 45,287 131,553 456,604 U.S. Treasury, General Account 1,575,875 0 1,575,875 0 0 0 0 0 0 0 0 0 0 Foreign official 21,842 2 21,815 1 3 8 2 2 1 0 0 0 6 Other (7) 175,900 14 58,140 0 32 1,099 81 113,973 1 63 515 1,960 21 Earnings remittances due to the U.S. Treasury (8) 2,032 44 1,107 41 49 96 156 114 29 16 27 105 247 Treasury contributions to credit facilities (9) 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 8,907 537 3,294 287 349 834 742 594 231 332 252 463 992 Total liabilities 7,294,763 154,314 3,925,612 168,722 319,192 574,487 408,896 396,415 99,297 71,611 104,511 318,392 753,314 Capital Capital paid in 32,380 1,470 10,880 1,163 2,800 6,739 1,467 1,269 616 275 350 583 4,769 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 7,333,968 156,108 3,938,786 170,130 322,574 582,666 410,702 397,949 100,025 71,940 104,933 319,056 759,099 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, January 13, 2021 (continued) 1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, 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 $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, 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 Jan 13, 2021 Federal Reserve notes outstanding 2,197,697 Less: Notes held by F.R. Banks not subject to collateralization 154,309 Federal Reserve notes to be collateralized 2,043,387 Collateral held against Federal Reserve notes 2,043,387 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,027,151 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,766,622 Less: Face value of securities under reverse repurchase agreements 208,085 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,558,537 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.