FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 4, 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 Feb 3, 2021 Federal Reserve Banks Feb 3, 2021 Jan 27, 2021 Feb 5, 2020 Reserve Bank credit 7,366,834 - 18,020 +3,246,895 7,370,758 Securities held outright (1) 6,840,913 - 15,636 +3,035,440 6,844,210 U.S. Treasury securities 4,768,784 + 13,975 +2,352,947 4,772,074 Bills (2) 326,044 0 + 89,224 326,044 Notes and bonds, nominal (2) 4,083,550 + 13,299 +2,059,212 4,085,037 Notes and bonds, inflation-indexed (2) 316,306 + 687 + 187,061 318,021 Inflation compensation (3) 42,884 - 11 + 17,450 42,972 Federal agency debt securities (2) 2,347 0 0 2,347 Mortgage-backed securities (4) 2,069,783 - 29,609 + 682,494 2,069,789 Unamortized premiums on securities held outright (5) 345,181 - 501 + 221,639 345,641 Unamortized discounts on securities held outright (5) -6,245 - 96 + 7,063 -6,335 Repurchase agreements (6) 1,000 0 - 174,319 1,000 Foreign official 1,000 0 + 1,000 1,000 Others 0 0 - 175,319 0 Loans 50,842 - 578 + 50,836 50,865 Primary credit 1,843 - 186 + 1,838 1,675 Secondary credit 0 0 0 0 Seasonal credit 0 0 0 0 Primary Dealer Credit Facility 531 + 46 + 531 520 Money Market Mutual Fund Liquidity Facility 1,861 - 44 + 1,861 1,802 Paycheck Protection Program Liquidity Facility 46,607 - 394 + 46,607 46,867 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC (7) 8,558 + 1 + 8,558 8,558 Net portfolio holdings of Corporate Credit Facilities LLC (7) 26,289 - 21 + 26,289 26,290 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (7) 33,304 + 12 + 33,304 33,311 Net portfolio holdings of Municipal Liquidity Facility LLC (7) 11,612 + 4 + 11,612 11,613 Net portfolio holdings of TALF II LLC (7) 6,443 - 235 + 6,443 6,404 Float -417 - 263 - 73 -65 Central bank liquidity swaps (8) 8,679 - 1,102 + 8,631 8,679 Other Federal Reserve assets (9) 40,676 + 394 + 11,473 40,588 Foreign currency denominated assets (10) 22,013 - 131 + 1,393 21,896 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 50,564 + 14 + 457 50,564 Total factors supplying reserve funds 7,455,652 - 18,137 +3,248,744 7,459,459 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 Feb 3, 2021 Federal Reserve Banks Feb 3, 2021 Jan 27, 2021 Feb 5, 2020 Currency in circulation (11) 2,097,478 + 334 + 304,892 2,099,246 Reverse repurchase agreements (12) 223,589 + 16,206 - 20,955 208,933 Foreign official and international accounts 220,138 + 13,638 - 20,117 208,755 Others 3,451 + 2,568 - 838 178 Treasury cash holdings 49 + 6 - 170 59 Deposits with F.R. Banks, other than reserve balances 1,840,162 - 64,396 +1,359,387 1,846,472 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 1,625,325 - 8,215 +1,212,003 1,629,729 Foreign official 21,849 - 108 + 16,667 21,854 Other (13) 192,988 - 56,074 + 130,718 194,889 Treasury contributions to credit facilities (14) 51,778 0 + 51,778 51,778 Other liabilities and capital (15) 49,477 - 397 + 5,709 50,248 Total factors, other than reserve balances, absorbing reserve funds 4,262,534 - 48,247 +1,700,642 4,256,737 Reserve balances with Federal Reserve Banks 3,193,118 + 30,110 +1,548,102 3,202,722 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 Feb 3, 2021 Feb 3, 2021 Jan 27, 2021 Feb 5, 2020 Securities held in custody for foreign official and international accounts 3,531,293 - 1,639 + 104,948 3,541,493 Marketable U.S. Treasury securities (1) 3,083,740 + 1,447 + 104,019 3,094,463 Federal agency debt and mortgage-backed securities (2) 359,150 - 2,827 - 5,724 359,095 Other securities (3) 88,403 - 258 + 6,653 87,936 Securities lent to dealers 34,828 + 4,616 + 3,399 35,182 Overnight facility (4) 34,828 + 4,616 + 3,399 35,182 U.S. Treasury securities 34,828 + 4,616 + 3,399 35,182 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, February 3, 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) 1,053 2,944 0 46,863 5 ... 50,865 U.S. Treasury securities (2) Holdings 97,981 307,213 636,995 1,812,046 836,802 1,081,036 4,772,074 Weekly changes + 9,738 - 166 - 11,177 - 3,773 + 2,580 + 8,764 + 5,967 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 6 2,112 72,522 1,995,149 2,069,789 Weekly changes 0 0 + 2 + 112 + 2,534 - 2,627 + 20 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 16,546 ... ... 16,546 Municipal notes held by Municipal Liquidity Facility LLC (7) 0 0 845 5,358 ... ... 6,203 Loans held by TALF II LLC (8) 0 0 0 2,717 ... ... 2,717 Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000 Central bank liquidity swaps (10) 2,182 6,497 0 0 0 0 8,679 Reverse repurchase agreements (9) 208,933 0 ... ... ... ... 208,933 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 Feb 3, 2021 Mortgage-backed securities held outright (1) 2,069,789 Residential mortgage-backed securities 2,059,899 Commercial mortgage-backed securities 9,889 Commitments to buy mortgage-backed securities (2) 216,197 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 12 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 Feb 3, 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 8,558 8,558 Corporate Credit Facilities LLC 14,058 14,163 12,127 26,290 MS Facilities LLC (Main Street Lending Program) 16,585 16,450 16,860 33,311 Municipal Liquidity Facility LLC 6,283 6,203 5,410 11,613 TALF II LLC 3,382 2,717 3,687 6,404 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 Feb 3, 2021 Wednesday Wednesday consolidation Jan 27, 2021 Feb 5, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,569 - 9 - 203 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,235,380 + 6,229 +3,137,403 Securities held outright (1) 6,844,210 + 5,987 +3,026,694 U.S. Treasury securities 4,772,074 + 5,967 +2,344,194 Bills (2) 326,044 0 + 78,508 Notes and bonds, nominal (2) 4,085,037 + 3,469 +2,059,562 Notes and bonds, inflation-indexed (2) 318,021 + 2,402 + 188,570 Inflation compensation (3) 42,972 + 96 + 17,554 Federal agency debt securities (2) 2,347 0 0 Mortgage-backed securities (4) 2,069,789 + 20 + 682,500 Unamortized premiums on securities held outright (5) 345,641 + 642 + 222,099 Unamortized discounts on securities held outright (5) -6,335 - 166 + 6,998 Repurchase agreements (6) 1,000 0 - 169,250 Loans (7) 50,865 - 233 + 50,864 Net portfolio holdings of Commercial Paper Funding Facility II LLC (8) 8,558 0 + 8,558 Net portfolio holdings of Corporate Credit Facilities LLC (8) 26,290 - 10 + 26,290 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (8) 33,311 + 10 + 33,311 Net portfolio holdings of Municipal Liquidity Facility LLC (8) 11,613 + 2 + 11,613 Net portfolio holdings of TALF II LLC (8) 6,404 - 274 + 6,404 Items in process of collection (0) 73 - 1 - 3 Bank premises 2,205 - 8 + 12 Central bank liquidity swaps (9) 8,679 - 888 + 8,631 Foreign currency denominated assets (10) 21,896 - 164 + 1,443 Other assets (11) 38,383 + 784 + 10,431 Total assets (0) 7,410,598 + 5,672 +3,243,891 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 Feb 3, 2021 Wednesday Wednesday consolidation Jan 27, 2021 Feb 5, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,050,306 + 1,789 + 303,812 Reverse repurchase agreements (12) 208,933 - 1,645 - 30,230 Deposits (0) 5,049,194 + 4,007 +2,911,931 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,202,722 - 26,029 +1,549,849 U.S. Treasury, General Account 1,629,729 + 16,352 +1,213,144 Foreign official 21,854 + 18 + 16,671 Other (13) (0) 194,889 + 13,666 + 132,268 Deferred availability cash items (0) 138 - 481 - 42 Treasury contributions to credit facilities (14) 51,778 0 + 51,778 Other liabilities and accrued dividends (15) 11,045 + 2,003 + 5,940 Total liabilities (0) 7,371,395 + 5,674 +3,243,190 Capital accounts Capital paid in 32,378 - 2 + 701 Surplus 6,825 0 0 Other capital accounts 0 0 0 Total capital 39,203 - 2 + 701 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, February 3, 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 1,569 33 43 132 76 209 152 262 32 42 106 187 295 Securities, unamortized premiums and discounts, repurchase agreements, and loans (1) 7,235,380 164,191 3,729,042 169,053 226,210 453,038 531,303 402,705 114,735 75,666 118,280 347,941 903,214 Net portfolio holdings of Commercial Paper Funding Facility II LLC (2) 8,558 0 8,558 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC (2) 26,290 0 26,290 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program) (2) 33,311 33,311 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC (2) 11,613 0 11,613 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC (2) 6,404 0 6,404 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps (3) 8,679 412 2,917 312 742 1,832 430 337 142 68 92 103 1,292 Foreign currency denominated assets (4) 21,896 1,039 7,361 788 1,871 4,621 1,086 850 359 171 231 260 3,260 Other assets (5) 40,661 2,494 18,278 1,010 1,344 2,846 3,074 2,297 801 533 963 2,073 4,947 Interdistrict settlement account 0 - 38,482 + 292,415 + 12,695 + 64,859 + 22,562 - 124,723 + 2,090 - 15,413 - 10,327 - 16,775 - 44,585 - 144,317 Total assets 7,410,598 163,531 4,108,405 184,520 295,863 486,273 413,506 409,679 101,135 66,424 103,347 307,181 770,735 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, February 3, 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 2,050,306 61,754 673,984 55,834 94,112 155,067 281,533 132,825 59,036 33,443 54,871 175,980 271,868 Reverse repurchase agreements (6) 208,933 4,692 108,177 4,767 6,537 13,095 15,398 11,670 3,301 1,975 3,322 10,069 25,931 Deposits 5,049,194 76,648 3,274,267 122,192 191,457 309,130 113,959 262,980 37,814 30,387 44,443 119,893 466,025 Depository institutions 3,202,722 76,629 1,563,079 122,190 191,420 308,045 113,876 130,931 37,811 30,254 43,562 118,926 465,999 U.S. Treasury, General Account 1,629,729 0 1,629,729 0 0 0 0 0 0 0 0 0 0 Foreign official 21,854 2 21,828 1 3 8 2 2 1 0 0 0 6 Other (7) 194,889 17 59,632 0 33 1,077 81 132,048 2 132 880 967 20 Earnings remittances due to the U.S. Treasury (8) 666 32 -156 38 49 61 155 105 8 9 34 100 230 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 10,517 554 5,253 281 318 765 686 563 231 277 251 433 906 Total liabilities 7,371,395 161,752 4,095,232 183,112 292,473 478,118 411,730 408,142 100,390 66,090 102,922 306,475 764,960 Capital Capital paid in 32,378 1,470 10,880 1,163 2,800 6,734 1,467 1,269 616 275 351 584 4,770 Surplus 6,825 310 2,294 245 590 1,420 309 267 130 58 74 123 1,005 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 7,410,598 163,531 4,108,405 184,520 295,863 486,273 413,506 409,679 101,135 66,424 103,347 307,181 770,735 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, February 3, 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 Feb 3, 2021 Federal Reserve notes outstanding 2,208,499 Less: Notes held by F.R. Banks not subject to collateralization 158,194 Federal Reserve notes to be collateralized 2,050,306 Collateral held against Federal Reserve notes 2,050,306 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,034,069 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,845,210 Less: Face value of securities under reverse repurchase agreements 199,574 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,645,636 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.