FRB: H.4.1 Release--Factors Affecting Reserve Balances-- February 25, 2021

FEDERAL RESERVE statistical release

For Release at
4:30 P.M. EDT
February 25, 2021

In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending
Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was
estimated based upon the Main Street Lending Program holdings as of December 31, 2020 and does not indicate actual
losses experienced by the program.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks February 25, 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 24, 2021
Federal Reserve Banks Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Reserve Bank credit 7,551,414 + 39,000 +3,431,923 7,550,111
Securities held outright (1) 7,028,677 + 47,838 +3,182,111 7,027,599
U.S. Treasury securities 4,835,147 + 23,003 +2,369,934 4,844,574
Bills (2) 326,044 0 + 49,789 326,044
Notes and bonds, nominal (2) 4,143,654 + 21,299 +2,111,146 4,150,779
Notes and bonds, inflation-indexed (2) 321,966 + 1,544 + 190,914 324,023
Inflation compensation (3) 43,483 + 161 + 18,085 43,728
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,191,183 + 24,835 + 812,176 2,180,678
Unamortized premiums on securities held outright (5) 350,809 + 1,451 + 227,301 350,667
Unamortized discounts on securities held outright (5) -6,747 - 215 + 6,745 -6,772
Repurchase agreements (6) 500 - 214 - 143,343 500
Foreign official 500 - 214 + 500 500
Others 0 0 - 143,843 0
Loans 55,409 + 2,378 + 55,407 56,321
Primary credit 2,031 + 264 + 2,029 2,092
Secondary credit 0 0 0 0
Seasonal credit 0 0 0 0
Primary Dealer Credit Facility 265 0 + 265 265
Money Market Mutual Fund Liquidity Facility 1,715 - 14 + 1,715 1,630
Paycheck Protection Program Liquidity Facility 51,397 + 2,127 + 51,397 52,334
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,556 - 1 + 8,556 8,556
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 26,233 - 36 + 26,233 26,194
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 32,935 - 335 + 32,935 30,958
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 11,539 + 3 + 11,539 11,541
Net portfolio holdings of TALF II LLC (7) 6,406 + 1 + 6,406 6,406
Float -18 + 52 + 165 449
Central bank liquidity swaps (8) 6,765 - 1,400 + 6,720 6,765
Other Federal Reserve assets (9) 30,350 - 10,522 + 11,148 30,927
Foreign currency denominated assets (10) 21,969 - 8 + 1,793 21,947
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,553 + 14 + 417 50,553

Total factors supplying reserve funds 7,640,177 + 39,006 +3,434,132 7,638,852

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 24, 2021
Federal Reserve Banks Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Currency in circulation (11) 2,102,167 + 93 + 303,271 2,102,634
Reverse repurchase agreements (12) 203,513 - 1,550 - 18,234 205,373
Foreign official and international accounts 203,293 - 1,747 - 15,568 205,372
Others 220 + 196 - 2,666 1
Treasury cash holdings 79 + 7 - 193 84
Deposits with F.R. Banks, other than reserve balances 1,863,212 + 53,186 +1,349,047 1,849,096
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,529,977 - 37,064 +1,090,612 1,439,646
Foreign official 22,090 - 212 + 16,903 22,393
Other (13) 311,145 + 90,462 + 241,532 387,057
Treasury contributions to credit facilities (14) 51,778 0 + 51,778 51,778
Other liabilities and capital (15) 50,407 - 2,843 + 5,911 45,703

Total factors, other than reserve balances,
absorbing reserve funds 4,271,157 + 48,893 +1,691,581 4,254,669

Reserve balances with Federal Reserve Banks 3,369,020 - 9,887 +1,742,551 3,384,183

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 24, 2021
Feb 24, 2021 Feb 17, 2021 Feb 26, 2020

Securities held in custody for foreign official and
international accounts 3,546,870 - 2,864 + 86,545 3,546,829
Marketable U.S. Treasury securities (1) 3,095,073 - 4,809 + 94,735 3,099,885
Federal agency debt and mortgage-backed securities (2) 361,796 + 1,447 - 16,161 357,064
Other securities (3) 90,001 + 498 + 7,972 89,881
Securities lent to dealers 30,463 + 3,648 + 1,144 28,437
Overnight facility (4) 30,463 + 3,648 + 1,144 28,437
U.S. Treasury securities 30,463 + 3,648 + 1,144 28,437
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 24, 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) 2,302 1,686 0 52,326 8 ... 56,321
U.S. Treasury securities (2)
Holdings 96,560 335,070 630,641 1,833,210 858,715 1,090,379 4,844,574
Weekly changes - 3,876 + 8,205 - 4,321 + 11,222 + 6,968 + 2,320 + 20,517
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 2,109 72,009 2,106,554 2,180,678
Weekly changes 0 0 0 0 + 2 + 10,114 + 10,116
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 16,548 ... ... 16,548
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 2,593 ... ... 2,593
Repurchase agreements (9) 500 0 ... ... ... ... 500
Central bank liquidity swaps (10) 5,828 937 0 0 0 0 6,765
Reverse repurchase agreements (9) 205,373 0 ... ... ... ... 205,373
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 24, 2021

Mortgage-backed securities held outright (1) 2,180,678
Residential mortgage-backed securities 2,170,782
Commercial mortgage-backed securities 9,896

Commitments to buy mortgage-backed securities (2) 165,011
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 57

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 24, 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 8,556 8,556
Corporate Credit Facilities LLC 14,018 14,058 12,136 26,194
MS Facilities LLC (Main Street Lending Program) 16,524 14,135 16,823 30,958
Municipal Liquidity Facility LLC 6,203 6,203 5,338 11,541
TALF II LLC 3,382 2,593 3,813 6,406

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
December 31, 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 24, 2021 Wednesday Wednesday
consolidation Feb 17, 2021 Feb 26, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,551 - 11 - 219
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,428,315 + 33,832 +3,326,756
Securities held outright (1) 7,027,599 + 30,633 +3,179,349
U.S. Treasury securities 4,844,574 + 20,517 +2,370,514
Bills (2) 326,044 0 + 45,503
Notes and bonds, nominal (2) 4,150,779 + 16,536 +2,113,697
Notes and bonds, inflation-indexed (2) 324,023 + 3,601 + 192,971
Inflation compensation (3) 43,728 + 380 + 18,343
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,180,678 + 10,116 + 808,835
Unamortized premiums on securities held outright
(5) 350,667 + 942 + 227,364
Unamortized discounts on securities held outright
(5) -6,772 - 44 + 6,675
Repurchase agreements (6) 500 0 - 142,940
Loans (7) 56,321 + 2,302 + 56,308
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,556 0 + 8,556
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 26,194 - 46 + 26,194
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,958 - 2,307 + 30,958
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 11,541 + 3 + 11,541
Net portfolio holdings of TALF II LLC (8) 6,406 + 1 + 6,406
Items in process of collection (0) 636 + 567 + 589
Bank premises 1,968 - 76 - 234
Central bank liquidity swaps (9) 6,765 - 1,400 + 6,721
Foreign currency denominated assets (10) 21,947 + 100 + 1,672
Other assets (11) 29,039 + 2,047 + 12,536

Total assets (0) 7,590,111 + 32,709 +3,431,474

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 24, 2021 Wednesday Wednesday
consolidation Feb 17, 2021 Feb 26, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,053,711 + 372 + 301,802
Reverse repurchase agreements (12) 205,373 + 3,654 - 14,595
Deposits (0) 5,233,359 + 32,354 +3,091,371
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,384,262 - 23,609 +1,704,192
U.S. Treasury, General Account 1,439,646 - 129,247 +1,052,031
Foreign official 22,393 - 659 + 17,207
Other (13) (0) 387,057 + 185,869 + 317,940
Deferred availability cash items (0) 186 + 5 - 452
Treasury contributions to credit facilities (14) 51,778 0 + 51,778
Other liabilities and accrued dividends (15) 6,509 - 3,673 + 926

Total liabilities (0) 7,550,917 + 32,712 +3,430,831

Capital accounts
Capital paid in 32,410 - 2 + 684
Surplus 6,785 0 - 40
Other capital accounts 0 0 0

Total capital 39,195 - 2 + 644

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 24, 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 1,551 35 42 127 73 211 152 256 29 45 106 175 301
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,428,315 169,585 3,827,282 173,179 232,265 465,011 545,273 413,452 117,848 78,226 121,138 356,945 928,111
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 26,194 0 26,194 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,958 30,958 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 11,541 0 11,541 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 6,406 0 6,406 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 6,765 321 2,273 243 578 1,428 336 263 111 53 71 80 1,007
Foreign currency denominated
assets (4) 21,947 1,042 7,377 790 1,875 4,632 1,088 852 360 172 231 261 3,267
Other assets (5) 31,643 2,271 13,132 791 1,020 2,219 2,908 1,747 822 420 782 1,798 3,732
Interdistrict settlement account 0 - 50,682 + 400,057 + 14,587 + 54,029 - 8,987 - 137,180 + 827 - 18,951 - 13,541 - 19,853 - 58,946 - 161,362

Total assets 7,590,111 154,062 4,308,343 190,247 290,601 465,679 414,760 418,534 100,697 65,645 102,927 301,515 777,101

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 24, 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 2,053,711 61,503 672,896 55,325 95,698 155,307 283,048 132,038 59,188 33,390 54,233 178,186 272,901
Reverse repurchase agreements (6) 205,373 4,612 106,334 4,686 6,425 12,872 15,135 11,471 3,245 1,941 3,266 9,898 25,489
Deposits 5,233,359 69,793 3,479,477 128,502 184,712 288,433 113,999 272,832 37,278 29,609 44,716 112,201 471,806
Depository institutions 3,384,262 69,778 1,783,124 128,500 184,670 287,482 113,916 123,532 37,274 29,555 44,158 110,494 471,779
U.S. Treasury, General Account 1,439,646 0 1,439,646 0 0 0 0 0 0 0 0 0 0
Foreign official 22,393 2 22,366 1 3 8 2 2 1 0 0 0 6
Other (7) 387,057 13 234,341 0 39 942 81 149,299 3 53 558 1,707 21
Earnings remittances due to the U.S.
Treasury (8) 1,487 30 785 31 47 119 105 76 9 9 17 68 190
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 5,209 -1,726 1,981 298 332 803 698 584 235 351 266 445 944

Total liabilities 7,550,917 152,284 4,295,180 188,840 287,215 457,533 412,985 417,001 99,954 65,298 102,499 300,797 771,331

Capital
Capital paid in 32,410 1,470 10,883 1,163 2,800 6,734 1,467 1,268 614 288 355 596 4,771
Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,590,111 154,062 4,308,343 190,247 290,601 465,679 414,760 418,534 100,697 65,645 102,927 301,515 777,101

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 24, 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 each Federal Reserve Bank's allotted surplus cap.
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 24, 2021

Federal Reserve notes outstanding 2,219,385
Less: Notes held by F.R. Banks not subject to collateralization 165,674
Federal Reserve notes to be collateralized 2,053,711
Collateral held against Federal Reserve notes 2,053,711
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,037,474
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,028,099
Less: Face value of securities under reverse repurchase agreements 198,466
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,829,633

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.

Statistical releases