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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

April 15, 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
Apr 14, 2021

Week ended
Apr 14, 2021

Change from week ended

Apr 7, 2021

Apr 15, 2020

Reserve Bank credit

7,692,317

+   35,351

+1,496,297

7,753,650

Securities held outright1

7,165,867

+   30,612

+1,970,328

7,224,865

U.S. Treasury securities

4,969,645

+   21,421

+1,252,231

4,973,499

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

4,259,702

+   18,670

+1,119,115

4,262,999

Notes and bonds, inflation-indexed2

   336,815

+    2,058

+  119,571

   337,158

Inflation compensation3

    47,084

+      693

+   13,545

    47,298

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

2,193,875

+    9,191

+  718,097

2,249,019

Unamortized premiums on securities held outright5

   351,262

+      362

+  100,934

   351,737

Unamortized discounts on securities held outright5

    -9,895

-      386

-    2,772

   -10,419

Repurchase agreements6

         0

         0

-  201,596

         0

Foreign official

         0

         0

-        1

         0

Others

         0

         0

-  201,596

         0

Loans

    64,004

+    2,037

-   64,600

    65,102

Primary credit

       708

-       53

-   40,326

       743

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

        25

         0

-   35,565

        25

Money Market Mutual Fund Liquidity Facility

         0

-      171

-   51,944

         0

Paycheck Protection Program Liquidity Facility

    63,272

+    2,263

+   63,272

    64,334

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

     8,556

         0

+    8,415

     8,556

Net portfolio holdings of Corporate Credit Facilities LLC7

    25,940

-       80

+   25,940

    25,959

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

    30,963

+        9

+   30,963

    30,970

Net portfolio holdings of Municipal Liquidity Facility LLC7

    11,414

-      121

+   11,414

    11,416

Net portfolio holdings of TALF II LLC7

     5,283

+        1

+    5,283

     5,283

Float

      -234

-      127

+       32

      -218

Central bank liquidity swaps8

       795

-       73

-  392,268

       795

Other Federal Reserve assets9

    38,362

+    3,118

+    4,225

    39,605

Foreign currency denominated assets10

    21,417

+      126

+      902

    21,515

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,616

+       14

+      426

    50,616

Total factors supplying reserve funds

7,780,591

+   35,491

+1,497,624

7,842,022

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
Apr 14, 2021

Week ended
Apr 14, 2021

Change from week ended

Apr 7, 2021

Apr 15, 2020

Currency in circulation11

2,153,198

+    6,227

+  268,311

2,156,376

Reverse repurchase agreements12

   265,990

+   26,470

-   18,474

   281,853

Foreign official and international accounts

   231,696

+    5,853

-   46,875

   230,997

Others

    34,294

+   20,617

+   28,401

    50,856

Treasury cash holdings

        78

-       10

-      229

        68

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

1,280,249

-   45,608

+  145,844

1,363,048

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   925,094

-   85,009

+   35,279

   921,685

Foreign official

    32,017

-      291

+   15,665

    31,075

Other13

   323,138

+   39,692

+   94,901

   410,288

Treasury contributions to credit facilities14

    51,136

-      642

+   51,136

    50,278

Other liabilities and capital15

    52,127

+    4,190

-    7,735

    53,946

Total factors, other than reserve balances,
absorbing reserve funds

3,802,778

-    9,373

+  438,853

3,905,568

Reserve balances with Federal Reserve Banks

3,977,813

+   44,864

+1,058,772

3,936,454

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.

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
Apr 14, 2021

Week ended
Apr 14, 2021

Change from week ended

Apr 7, 2021

Apr 15, 2020

Securities held in custody for foreign official and international accounts

3,553,999

+    5,064

+  235,831

3,562,016

Marketable U.S. Treasury securities1

3,118,674

+    3,774

+  271,617

3,117,927

Federal agency debt and mortgage-backed securities2

   347,857

+    1,443

-   40,353

   356,764

Other securities3

    87,467

-      154

+    4,567

    87,325

Securities lent to dealers

    42,850

+    2,402

+    8,254

    48,392

Overnight facility4

    42,850

+    2,402

+    8,254

    48,392

U.S. Treasury securities

    42,850

+    2,402

+    8,254

    48,392

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, April 14, 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

       122

       646

     3,407

    60,927

         0

...

    65,102

U.S. Treasury securities2

Holdings

    71,695

   353,207

   625,391

1,892,626

   894,208

1,136,372

4,973,499

Weekly changes

-    3,407

+    2,826

+      619

+    3,942

+    5,022

+    5,464

+   14,466

Federal agency debt securities3

Holdings

         0

         0

         0

         0

     2,134

       213

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

Holdings

         0

         0

        12

     1,954

    69,053

2,178,001

2,249,019

Weekly changes

         0

         0

         0

         0

         0

+   64,336

+   64,335

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

    16,436

...

...

    16,436

Municipal notes held by Municipal

Liquidity Facility LLC7

         0

       400

         0

     5,358

...

...

     5,758

Loans held by TALF II LLC8

         0

         0

         0

     1,872

...

...

     1,872

Repurchase agreements9

         0

         0

...

...

...

...

         0

Central bank liquidity swaps10

       271

       524

         0

         0

         0

         0

       795

Reverse repurchase agreements9

   281,853

         0

...

...

...

...

   281,853

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, 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

Apr 14, 2021

Mortgage-backed securities held outright1

2,249,019

Residential mortgage-backed securities

2,239,076

Commercial mortgage-backed securities

     9,943

Commitments to buy mortgage-backed securities2

   161,970

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         0

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 Apr 14, 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

    13,825

    13,768

    12,191

    25,959

MS Facilities LLC (Main Street Lending Program)

    16,488

    14,023

    16,948

    30,970

Municipal Liquidity Facility LLC

     6,058

     5,758

     5,658

    11,416

TALF II LLC

     2,256

     1,872

     3,411

     5,283

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
Apr 14, 2021

Change since

Wednesday

Wednesday

Apr 7, 2021

Apr 15, 2020

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,428

-       30

-      228

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

7,631,285

+   80,857

+1,715,022

Securities held outright1

7,224,865

+   78,801

+1,865,489

U.S. Treasury securities

4,973,499

+   14,466

+1,184,641

Bills2

   326,044

         0

         0

Notes and bonds, nominal2

4,262,999

+   11,337

+1,056,855

Notes and bonds, inflation-indexed2

   337,158

+    2,401

+  114,466

Inflation compensation3

    47,298

+      728

+   13,320

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

2,249,019

+   64,335

+  680,848

Unamortized premiums on securities held outright5

   351,737

+      627

+   89,403

Unamortized discounts on securities held outright5

   -10,419

-      859

-    3,523

Repurchase agreements6

         0

         0

-  181,100

Loans7

    65,102

+    2,288

-   55,247

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

     8,556

         0

+    7,582

Net portfolio holdings of Corporate Credit Facilities LLC8

    25,959

+       22

+   25,959

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

    30,970

+        8

+   30,970

Net portfolio holdings of Municipal Liquidity Facility LLC8

    11,416

+        3

+   11,416

Net portfolio holdings of TALF II LLC8

     5,283

         0

+    5,283

Items in process of collection

(0)

        55

+       11

+       20

Bank premises

     1,916

+        3

-      287

Central bank liquidity swaps9

       795

-       73

-  377,496

Foreign currency denominated assets10

    21,515

+      148

+      990

Other assets11

    37,688

+    3,271

+    5,985

Total assets

(0)

7,793,104

+   84,222

+1,425,217

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
Apr 14, 2021

Change since

Wednesday

Wednesday

Apr 7, 2021

Apr 15, 2020

Liabilities

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

2,107,251

+    6,057

+  267,952

Reverse repurchase agreements12

   281,853

+    9,780

+    2,269

Deposits

(0)

5,299,502

+   65,487

+1,125,650

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

3,936,454

-    7,601

+  866,580

U.S. Treasury, General Account

   921,685

-   33,283

+   65,530

Foreign official

    31,075

-    1,174

+   14,728

Other13

(0)

   410,288

+  107,544

+  178,813

Deferred availability cash items

(0)

       274

+      123

-      122

Treasury contributions to credit facilities14

    50,278

-    1,500

+   50,278

Other liabilities and accrued dividends15

    14,678

+    4,274

-   21,246

Total liabilities

(0)

7,753,836

+   84,220

+1,424,781

Capital accounts

Capital paid in

    32,482

         0

+      475

Surplus

     6,785

         0

-       40

Other capital accounts

         0

         0

         0

Total capital

    39,267

         0

+      435

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.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.


6. Statement of Condition of Each Federal Reserve Bank, April 14, 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

     1,428

        29

        37

       116

        69

       198

       127

       247

        23

        44

       100

       159

       281

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

7,631,285

   170,201

3,928,456

   176,745

   240,745

   477,342

   559,476

   423,698

   120,901

    84,930

   124,735

   366,151

   957,906

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

    25,959

         0

    25,959

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    30,970

    30,970

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

    11,416

         0

    11,416

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     5,283

         0

     5,283

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       795

        36

       267

        29

        69

       165

        36

        31

        15

         7

         9

        14

       117

Foreign currency denominated

assets4

    21,515

       977

     7,232

       773

     1,860

     4,477

       973

       843

       409

       183

       233

       388

     3,168

Other assets5

    39,660

       955

    19,205

       993

     1,309

     2,834

     2,982

     2,238

       755

       553

       943

     2,067

     4,826

Interdistrict settlement account

         0

-   42,847

+  110,681

+   16,719

+   80,343

+   33,602

-  101,754

+   41,151

-    8,689

-   14,444

-   11,739

-   11,592

-   91,429

Total assets

7,793,104

   160,853

4,122,574

   195,903

   325,156

   519,783

   464,022

   469,345

   113,893

    71,542

   114,729

   358,390

   876,914

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, April 14, 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

2,107,251

    62,728

   683,762

    57,186

   104,333

   157,900

   293,667

   130,920

    59,489

    33,173

    54,976

   184,986

   284,133

Reverse repurchase agreements6

   281,853

     6,329

   145,931

     6,430

     8,818

    17,665

    20,772

    15,743

     4,453

     2,664

     4,482

    13,584

    34,981

Deposits

5,299,502

    75,172

3,235,961

   130,507

   208,167

   335,041

   146,862

   320,376

    48,915

    34,873

    54,512

   158,493

   550,623

Depository institutions

3,936,454

    75,159

2,035,893

   130,505

   208,127

   334,362

   146,819

   161,425

    48,899

    34,639

    53,709

   156,321

   550,596

U.S. Treasury, General Account

   921,685

         0

   921,685

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

    31,075

         2

    31,048

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   410,288

        11

   247,335

         0

        37

       670

        41

   158,950

        16

       234

       802

     2,171

        21

Earnings remittances due to the U.S. Treasury8

     2,821

        62

     1,468

        64

        93

       192

       207

       149

        32

        24

        42

       132

       355

Treasury contributions to credit facilities9

    50,278

    16,572

    33,706

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    12,131

    -1,788

     8,573

       309

       356

       838

       731

       620

       258

       459

       285

       476

     1,014

Total liabilities

7,753,836

   159,075

4,109,402

   194,495

   321,768

   511,636

   462,238

   467,809

   113,148

    71,193

   114,296

   357,670

   871,106

Capital

Capital paid in

    32,482

     1,470

    10,892

     1,164

     2,801

     6,735

     1,477

     1,270

       616

       291

       360

       597

     4,809

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

7,793,104

   160,853

4,122,574

   195,903

   325,156

   519,783

   464,022

   469,345

   113,893

    71,542

   114,729

   358,390

   876,914

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, April 14, 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, 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.

   

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

Apr 14, 2021

Federal Reserve notes outstanding

2,263,062

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

   155,811

Federal Reserve notes to be collateralized

2,107,251

Collateral held against Federal Reserve notes

2,107,251

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

2,091,014

Other assets pledged

         0

Memo:

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

7,224,865

Less: Face value of securities under reverse repurchase agreements

   269,859

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

6,955,006

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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