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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

March 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
Mar 3, 2021

Week ended
Mar 3, 2021

Change from week ended

Feb 24, 2021

Mar 4, 2020

Reserve Bank credit

7,506,702

-   44,712

+3,362,361

7,517,596

Securities held outright1

6,991,833

-   36,844

+3,126,826

7,003,026

U.S. Treasury securities

4,856,236

+   21,089

+2,365,420

4,867,279

Bills2

   326,044

         0

+   30,501

   326,044

Notes and bonds, nominal2

4,161,601

+   17,947

+2,122,777

4,170,650

Notes and bonds, inflation-indexed2

   324,709

+    2,743

+  193,657

   326,422

Inflation compensation3

    43,882

+      399

+   18,485

    44,163

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

2,133,250

-   57,933

+  761,406

2,133,400

Unamortized premiums on securities held outright5

   348,952

-    1,857

+  225,516

   349,347

Unamortized discounts on securities held outright5

    -7,348

-      601

+    6,129

    -7,455

Repurchase agreements6

       500

         0

-  149,793

       500

Foreign official

       500

         0

+      500

       500

Others

         0

         0

-  150,293

         0

Loans

    56,164

+      755

+   56,152

    56,075

Primary credit

     1,741

-      290

+    1,730

     1,738

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

       255

-       10

+      255

       255

Money Market Mutual Fund Liquidity Facility

     1,101

-      614

+    1,101

       694

Paycheck Protection Program Liquidity Facility

    53,066

+    1,669

+   53,066

    53,388

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

     8,556

         0

+    8,556

     8,556

Net portfolio holdings of Corporate Credit Facilities LLC7

    26,156

-       77

+   26,156

    26,135

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7

    30,961

-    1,974

+   30,961

    30,968

Net portfolio holdings of Municipal Liquidity Facility LLC7

    11,543

+        4

+   11,543

    11,545

Net portfolio holdings of TALF II LLC7

     5,755

-      651

+    5,755

     5,647

Float

      -446

-      428

+       45

      -296

Central bank liquidity swaps8

     5,095

-    1,670

+    5,047

     4,863

Other Federal Reserve assets9

    28,982

-    1,368

+    9,470

    28,685

Foreign currency denominated assets10

    21,862

-      107

+    1,207

    21,789

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,567

+       14

+      421

    50,567

Total factors supplying reserve funds

7,595,373

-   44,804

+3,363,989

7,606,193

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
Mar 3, 2021

Week ended
Mar 3, 2021

Change from week ended

Feb 24, 2021

Mar 4, 2020

Currency in circulation11

2,102,331

+      164

+  298,861

2,103,348

Reverse repurchase agreements12

   221,293

+   17,780

-    6,941

   203,339

Foreign official and international accounts

   214,995

+   11,702

-   11,094

   202,832

Others

     6,298

+    6,078

+    4,153

       507

Treasury cash holdings

        85

+        6

-      204

        94

Deposits with F.R. Banks, other than reserve balances

1,672,029

-  191,183

+1,215,903

1,636,710

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

1,429,549

-  100,428

+1,055,034

1,420,238

Foreign official

    22,117

+       27

+   16,930

    21,873

Other13

   220,363

-   90,782

+  143,939

   194,600

Treasury contributions to credit facilities14

    51,778

         0

+   51,778

    51,778

Other liabilities and capital15

    44,737

-    5,670

+      328

    46,073

Total factors, other than reserve balances,
absorbing reserve funds

4,092,253

-  178,904

+1,559,725

4,041,343

Reserve balances with Federal Reserve Banks

3,503,120

+  134,100

+1,804,265

3,564,850

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
Mar 3, 2021

Week ended
Mar 3, 2021

Change from week ended

Feb 24, 2021

Mar 4, 2020

Securities held in custody for foreign official and international accounts

3,544,361

-    2,509

+   86,686

3,552,551

Marketable U.S. Treasury securities1

3,101,715

+    6,642

+  103,066

3,109,997

Federal agency debt and mortgage-backed securities2

   353,076

-    8,720

-   23,994

   353,036

Other securities3

    89,570

-      431

+    7,614

    89,519

Securities lent to dealers

    37,372

+    6,909

+    5,050

    32,067

Overnight facility4

    37,372

+    6,909

+    5,050

    32,067

U.S. Treasury securities

    37,372

+    6,909

+    5,050

    32,067

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, March 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

     1,228

     1,459

         3

    53,385

         0

...

    56,075

U.S. Treasury securities2

Holdings

    53,597

   367,586

   624,721

1,851,855

   866,624

1,102,896

4,867,279

Weekly changes

-   42,963

+   32,516

-    5,920

+   18,645

+    7,909

+   12,517

+   22,705

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

         9

     2,029

    70,794

2,060,568

2,133,400

Weekly changes

         0

         0

+        3

-       80

-    1,215

-   45,986

-   47,278

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

    16,530

...

...

    16,530

Municipal notes held by Municipal

Liquidity Facility LLC7

         0

         0

       845

     5,358

...

...

     6,203

Loans held by TALF II LLC8

         0

         0

         0

     2,336

...

...

     2,336

Repurchase agreements9

       500

         0

...

...

...

...

       500

Central bank liquidity swaps10

     4,568

       295

         0

         0

         0

         0

     4,863

Reverse repurchase agreements9

   203,339

         0

...

...

...

...

   203,339

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

Mar 3, 2021

Mortgage-backed securities held outright1

2,133,400

Residential mortgage-backed securities

2,123,506

Commercial mortgage-backed securities

     9,894

Commitments to buy mortgage-backed securities2

   196,807

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

        31

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 Mar 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

     8,556

     8,556

Corporate Credit Facilities LLC

    14,018

    13,943

    12,192

    26,135

MS Facilities LLC (Main Street Lending Program)

    16,524

    14,116

    16,852

    30,968

Municipal Liquidity Facility LLC

     6,203

     6,203

     5,342

    11,545

TALF II LLC

     2,623

     2,336

     3,311

     5,647

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 from consolidation

Wednesday
Mar 3, 2021

Change since

Wednesday

Wednesday

Feb 24, 2021

Mar 4, 2020

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,545

-        6

-      206

Securities, unamortized premiums and discounts, repurchase agreements, and loans

7,401,493

-   26,822

+3,218,695

Securities held outright1

7,003,026

-   24,573

+3,126,210

U.S. Treasury securities

4,867,279

+   22,705

+2,364,655

Bills2

   326,044

         0

+   23,002

Notes and bonds, nominal2

4,170,650

+   19,871

+2,127,569

Notes and bonds, inflation-indexed2

   326,422

+    2,399

+  195,370

Inflation compensation3

    44,163

+      435

+   18,714

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

2,133,400

-   47,278

+  761,554

Unamortized premiums on securities held outright5

   349,347

-    1,320

+  224,941

Unamortized discounts on securities held outright5

    -7,455

-      683

+    5,970

Repurchase agreements6

       500

         0

-  194,500

Loans7

    56,075

-      246

+   56,074

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

     8,556

         0

+    8,556

Net portfolio holdings of Corporate Credit Facilities LLC8

    26,135

-       59

+   26,135

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8

    30,968

+       10

+   30,968

Net portfolio holdings of Municipal Liquidity Facility LLC8

    11,545

+        4

+   11,545

Net portfolio holdings of TALF II LLC8

     5,647

-      759

+    5,647

Items in process of collection

(0)

        62

-      574

+       20

Bank premises

     1,914

-       54

-      284

Central bank liquidity swaps9

     4,863

-    1,902

+    4,815

Foreign currency denominated assets10

    21,789

-      158

+    1,014

Other assets11

    26,771

-    2,268

+    9,114

Total assets

(0)

7,557,524

-   32,587

+3,316,017

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
Mar 3, 2021

Change since

Wednesday

Wednesday

Feb 24, 2021

Mar 4, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

2,054,415

+      704

+  292,290

Reverse repurchase agreements12

   203,339

-    2,034

-   33,363

Deposits

(0)

5,201,560

-   31,799

+3,004,160

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

3,564,850

+  180,588

+1,829,844

U.S. Treasury, General Account

1,420,238

-   19,408

+1,038,936

Foreign official

    21,873

-      520

+   16,687

Other13

(0)

   194,600

-  192,457

+  118,694

Deferred availability cash items

(0)

       358

+      172

-      312

Treasury contributions to credit facilities14

    51,778

         0

+   51,778

Other liabilities and accrued dividends15

     6,872

+      363

+      820

Total liabilities

(0)

7,518,323

-   32,594

+3,315,374

Capital accounts

Capital paid in

    32,416

+        6

+      683

Surplus

     6,785

         0

-       40

Other capital accounts

         0

         0

         0

Total capital

    39,201

+        6

+      643

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, March 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

     1,545

        34

        43

       124

        74

       211

       152

       254

        27

        46

       107

       170

       302

Securities, unamortized premiums and discounts, repurchase agreements,
and loans1

7,401,493

   168,019

3,813,514

   172,438

   231,497

   463,238

   543,387

   411,791

   117,447

    78,259

   120,363

   355,651

   925,890

Net portfolio holdings of Commercial Paper Funding Facility II LLC2

     8,556

         0

     8,556

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC2

    26,135

         0

    26,135

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    30,968

    30,968

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

    11,545

         0

    11,545

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     5,647

         0

     5,647

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

     4,863

       231

     1,634

       175

       416

     1,026

       241

       189

        80

        38

        51

        58

       724

Foreign currency denominated

assets4

    21,789

     1,034

     7,325

       784

     1,862

     4,598

     1,080

       846

       357

       171

       230

       259

     3,244

Other assets5

    28,748

     2,212

    12,010

       741

       958

     2,092

     2,176

     1,629

       809

       415

       751

     1,494

     3,461

Interdistrict settlement account

         0

-   31,101

+  276,539

+   11,073

+   62,032

+   16,262

-  128,494

+    6,906

-   15,747

-   12,124

-   18,871

-   41,712

-  124,765

Total assets

7,557,524

   171,930

4,168,430

   185,863

   297,600

   488,592

   420,725

   422,752

   103,453

    67,074

   103,080

   317,123

   810,901

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, March 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

2,054,415

    61,505

   672,282

    55,066

    96,129

   155,450

   283,487

   132,147

    58,590

    32,966

    53,983

   178,591

   274,220

Reverse repurchase agreements6

   203,339

     4,566

   105,280

     4,639

     6,362

    12,744

    14,985

    11,357

     3,213

     1,922

     3,234

     9,800

    25,237

Deposits

5,201,560

    87,830

3,338,110

   124,561

   191,531

   311,775

   120,072

   277,363

    40,723

    31,356

    45,241

   127,757

   505,243

Depository institutions

3,564,850

    87,811

1,851,443

   124,559

   191,493

   310,554

   119,989

   129,852

    40,717

    31,302

    44,840

   127,074

   505,216

U.S. Treasury, General Account

1,420,238

         0

1,420,238

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

    21,873

         2

    21,846

         1

         3

         8

         2

         2

         1

         0

         0

         0

         6

Other7

   194,600

        17

    44,583

         0

        35

     1,213

        81

   147,509

         5

        53

       400

       683

        21

Earnings remittances due to the U.S. Treasury8

       853

        10

       466

        16

        19

         0

        80

        52

        27

        12

        15

        49

       108

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

     6,377

    -1,832

     5,422

       175

       173

       476

       327

       299

       156

       473

       178

       207

       321

Total liabilities

7,518,323

   170,152

4,155,266

   184,457

   294,213

   480,446

   418,951

   421,219

   102,708

    66,728

   102,650

   316,405

   805,129

Capital

Capital paid in

    32,416

     1,470

    10,884

     1,163

     2,800

     6,734

     1,467

     1,268

       615

       288

       357

       596

     4,773

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

7,557,524

   171,930

4,168,430

   185,863

   297,600

   488,592

   420,725

   422,752

   103,453

    67,074

   103,080

   317,123

   810,901

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, March 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 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

Mar 3, 2021

Federal Reserve notes outstanding

2,223,846

Less: Notes held by F.R. Banks not subject to collateralization

   169,430

Federal Reserve notes to be collateralized

2,054,415

Collateral held against Federal Reserve notes

2,054,415

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

2,038,178

Other assets pledged

         0

Memo:

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

7,003,526

Less: Face value of securities under reverse repurchase agreements

   197,260

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

6,806,266

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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