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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
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Feb 3, 2021

Week ended
Feb 3, 2021

Change from week ended

Jan 27, 2021

Feb 5, 2020

Reserve Bank credit

7,366,834

-   18,020

+3,246,895

7,370,758

Securities held outright1

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

Bills2

   326,044

         0

+   89,224

   326,044

Notes and bonds, nominal2

4,083,550

+   13,299

+2,059,212

4,085,037

Notes and bonds, inflation-indexed2

   316,306

+      687

+  187,061

   318,021

Inflation compensation3

    42,884

-       11

+   17,450

    42,972

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

2,069,783

-   29,609

+  682,494

2,069,789

Unamortized premiums on securities held outright5

   345,181

-      501

+  221,639

   345,641

Unamortized discounts on securities held outright5

    -6,245

-       96

+    7,063

    -6,335

Repurchase agreements6

     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 LLC7

     8,558

+        1

+    8,558

     8,558

Net portfolio holdings of Corporate Credit Facilities LLC7

    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 LLC7

    11,612

+        4

+   11,612

    11,613

Net portfolio holdings of TALF II LLC7

     6,443

-      235

+    6,443

     6,404

Float

      -417

-      263

-       73

       -65

Central bank liquidity swaps8

     8,679

-    1,102

+    8,631

     8,679

Other Federal Reserve assets9

    40,676

+      394

+   11,473

    40,588

Foreign currency denominated assets10

    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 outstanding11

    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
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Feb 3, 2021

Week ended
Feb 3, 2021

Change from week ended

Jan 27, 2021

Feb 5, 2020

Currency in circulation11

2,097,478

+      334

+  304,892

2,099,246

Reverse repurchase agreements12

   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

Other13

   192,988

-   56,074

+  130,718

   194,889

Treasury contributions to credit facilities14

    51,778

         0

+   51,778

    51,778

Other liabilities and capital15

    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
Feb 3, 2021

Week ended
Feb 3, 2021

Change from week ended

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 securities1

3,083,740

+    1,447

+  104,019

3,094,463

Federal agency debt and mortgage-backed securities2

   359,150

-    2,827

-    5,724

   359,095

Other securities3

    88,403

-      258

+    6,653

    87,936

Securities lent to dealers

    34,828

+    4,616

+    3,399

    35,182

Overnight facility4

    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
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans1

     1,053

     2,944

         0

    46,863

         5

...

    50,865

U.S. Treasury securities2

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 securities3

Holdings

         0

         0

         0

         0

     1,818

       529

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

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 LLC5

         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 LLC7

         0

         0

       845

     5,358

...

...

     6,203

Loans held by TALF II LLC8

         0

         0

         0

     2,717

...

...

     2,717

Repurchase agreements9

     1,000

         0

...

...

...

...

     1,000

Central bank liquidity swaps10

     2,182

     6,497

         0

         0

         0

         0

     8,679

Reverse repurchase agreements9

   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 outright1

2,069,789

Residential mortgage-backed securities

2,059,899

Commercial mortgage-backed securities

     9,889

Commitments to buy mortgage-backed securities2

   216,197

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

        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 LLC1

purchases2

other assets3

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 from consolidation

Wednesday
Feb 3, 2021

Change since

Wednesday

Wednesday

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 outright1

6,844,210

+    5,987

+3,026,694

U.S. Treasury securities

4,772,074

+    5,967

+2,344,194

Bills2

   326,044

         0

+   78,508

Notes and bonds, nominal2

4,085,037

+    3,469

+2,059,562

Notes and bonds, inflation-indexed2

   318,021

+    2,402

+  188,570

Inflation compensation3

    42,972

+       96

+   17,554

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

2,069,789

+       20

+  682,500

Unamortized premiums on securities held outright5

   345,641

+      642

+  222,099

Unamortized discounts on securities held outright5

    -6,335

-      166

+    6,998

Repurchase agreements6

     1,000

         0

-  169,250

Loans7

    50,865

-      233

+   50,864

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

     8,558

         0

+    8,558

Net portfolio holdings of Corporate Credit Facilities LLC8

    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 LLC8

    11,613

+        2

+   11,613

Net portfolio holdings of TALF II LLC8

     6,404

-      274

+    6,404

Items in process of collection

(0)

        73

-        1

-        3

Bank premises

     2,205

-        8

+       12

Central bank liquidity swaps9

     8,679

-      888

+    8,631

Foreign currency denominated assets10

    21,896

-      164

+    1,443

Other assets11

    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 from consolidation

Wednesday
Feb 3, 2021

Change since

Wednesday

Wednesday

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 agreements12

   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

Other13

(0)

   194,889

+   13,666

+  132,268

Deferred availability cash items

(0)

       138

-      481

-       42

Treasury contributions to credit facilities14

    51,778

         0

+   51,778

Other liabilities and accrued dividends15

    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 loans1

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 LLC2

     8,558

         0

     8,558

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC2

    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 LLC2

    11,613

         0

    11,613

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     6,404

         0

     6,404

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

     8,679

       412

     2,917

       312

       742

     1,832

       430

       337

       142

        68

        92

       103

     1,292

Foreign currency denominated

assets4

    21,896

     1,039

     7,361

       788

     1,871

     4,621

     1,086

       850

       359

       171

       231

       260

     3,260

Other assets5

    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 agreements6

   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

Other7

   194,889

        17

    59,632

         0

        33

     1,077

        81

   132,048

         2

       132

       880

       967

        20

Earnings remittances due to the U.S. Treasury8

       666

        32

      -156

        38

        49

        61

       155

       105

         8

         9

        34

       100

       230

Treasury contributions to credit facilities9

    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 pledged1,2

2,034,069

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

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.


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