FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, April 29, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	April 29, 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 28, 2021
	Week ended Apr 28, 2021	Change from week ended
	Week ended Apr 28, 2021	Apr 21, 2021	Apr 29, 2020
Reserve Bank credit	7,769,787	+ 7,966	+1,172,132	7,740,777
Securities held outright¹	7,235,791	+ 3,462	+1,673,293	7,208,414
U.S. Treasury securities	5,010,258	+ 18,868	+1,065,241	5,014,762
Bills²	326,044	0	0	326,044
Notes and bonds, nominal²	4,305,591	+ 16,536	+ 961,387	4,308,411
Notes and bonds, inflation-indexed²	331,244	+ 1,714	+ 92,125	332,616
Inflation compensation³	47,378	+ 617	+ 11,727	47,691
Federal agency debt securities²	2,347	0	0	2,347
Mortgage-backed securities⁴	2,223,186	- 15,406	+ 608,052	2,191,305
Unamortized premiums on securities held outright⁵	350,565	- 877	+ 69,297	349,308
Unamortized discounts on securities held outright⁵	-11,478	- 365	- 5,671	-11,804
Repurchase agreements⁶	0	0	- 163,558	0
Foreign official	0	0	0	0
Others	0	0	- 163,557	0
Loans	71,774	+ 4,768	- 49,610	73,124
Primary credit	1,058	+ 189	- 30,201	731
Secondary credit	0	0	0	0
Seasonal credit	0	0	0	0
Primary Dealer Credit Facility	0	- 4	- 28,618	0
Money Market Mutual Fund Liquidity Facility	0	0	- 47,504	0
Paycheck Protection Program Liquidity Facility	70,716	+ 4,582	+ 56,713	72,394
Other credit extensions	0	0	0	0
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁷	8,556	0	+ 5,635	8,556
Net portfolio holdings of Corporate Credit Facilities LLC⁷	25,974	+ 13	+ 25,974	25,970
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁷	30,892	+ 5	+ 30,892	30,895
Net portfolio holdings of Municipal Liquidity Facility LLC⁷	11,333	- 83	+ 11,333	11,121
Net portfolio holdings of TALF II LLC⁷	5,283	0	+ 5,283	5,284
Float	-214	- 120	+ 153	-833
Central bank liquidity swaps⁸	703	+ 30	- 433,550	703
Other Federal Reserve assets⁹	40,609	+ 1,135	+ 2,662	40,039
Foreign currency denominated assets¹⁰	21,673	+ 93	+ 1,233	21,656
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	+ 415	50,616

Total factors supplying reserve funds	7,858,317	+ 8,073	+1,173,780	7,829,290

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 28, 2021
	Week ended Apr 28, 2021	Change from week ended
	Week ended Apr 28, 2021	Apr 21, 2021	Apr 29, 2020
Currency in circulation¹¹	2,161,144	+ 2,920	+ 257,785	2,163,465
Reverse repurchase agreements¹²	327,035	+ 50,625	+ 55,728	382,891
Foreign official and international accounts	222,200	- 4,021	- 44,678	216,159
Others	104,835	+ 54,646	+ 100,405	166,732
Treasury cash holdings	59	- 8	- 239	47
Deposits with F.R. Banks, other than reserve balances	1,440,480	- 47,711	+ 153,956	1,295,205
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	967,689	- 48,213	- 29,818	932,287
Foreign official	29,071	- 2,175	+ 12,754	29,092
Other¹³	443,720	+ 2,677	+ 171,021	333,827
Treasury contributions to credit facilities¹⁴	50,278	0	+ 50,278	50,278
Other liabilities and capital¹⁵	50,051	- 1,569	- 13,857	48,385

Total factors, other than reserve balances, absorbing reserve funds	4,029,048	+ 4,259	+ 503,653	3,940,272

Reserve balances with Federal Reserve Banks	3,829,269	+ 3,814	+ 670,127	3,889,018

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 28, 2021
	Week ended Apr 28, 2021	Change from week ended
	Week ended Apr 28, 2021	Apr 21, 2021	Apr 29, 2020
Securities held in custody for foreign official and international accounts	3,546,598	- 13,168	+ 209,249	3,545,218
Marketable U.S. Treasury securities¹	3,100,435	- 16,988	+ 230,727	3,101,351
Federal agency debt and mortgage-backed securities²	357,455	+ 2,880	- 25,096	355,200
Other securities³	88,709	+ 942	+ 3,619	88,667
Securities lent to dealers	36,698	+ 3,519	+ 2,340	36,801
Overnight facility⁴	36,698	+ 3,519	+ 2,340	36,801
U.S. Treasury securities	36,698	+ 3,519	+ 2,340	36,801
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 28, 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	104	626	10,586	61,805	3	...	73,124
U.S. Treasury securities²
Holdings	100,168	327,552	628,477	1,902,633	906,047	1,149,886	5,014,762
Weekly changes	- 4,525	+ 1,357	+ 3,208	+ 3,603	+ 5,350	+ 5,463	+ 14,456
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	10	1,853	66,798	2,122,644	2,191,305
Weekly changes	0	0	- 2	- 94	- 1,537	- 54,051	- 55,684
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	16,366	...	...	16,366
Municipal notes held by Municipal
Liquidity Facility LLC⁷	0	400	0	5,358	...	...	5,758
Loans held by TALF II LLC⁸	0	0	0	1,833	...	...	1,833
Repurchase agreements⁹	0	0	...	...	...	...	0
Central bank liquidity swaps¹⁰	164	539	0	0	0	0	703
Reverse repurchase agreements⁹	382,891	0	...	...	...	...	382,891
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
Account name	Apr 28, 2021
Mortgage-backed securities held outright¹	2,191,305
Residential mortgage-backed securities	2,181,429
Commercial mortgage-backed securities	9,876

Commitments to buy mortgage-backed securities²	187,356
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	65

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 28, 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	13,765	12,205	25,970
MS Facilities LLC (Main Street Lending Program)	16,404	13,952	16,943	30,895
Municipal Liquidity Facility LLC	5,758	5,758	5,363	11,121
TALF II LLC	2,256	1,833	3,451	5,284

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 28, 2021	Change since
			Wednesday	Wednesday
			Apr 21, 2021	Apr 29, 2020
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,384	- 15	- 214
Securities, unamortized premiums and discounts, repurchase agreements, and loans		7,619,042	- 39,903	+1,481,796
Securities held outright¹		7,208,414	- 41,228	+1,629,928
U.S. Treasury securities		5,014,762	+ 14,456	+1,043,343
Bills²		326,044	0	0
Notes and bonds, nominal²		4,308,411	+ 11,337	+ 941,364
Notes and bonds, inflation-indexed²		332,616	+ 2,401	+ 90,326
Inflation compensation³		47,691	+ 718	+ 11,653
Federal agency debt securities²		2,347	0	0
Mortgage-backed securities⁴		2,191,305	- 55,684	+ 586,585
Unamortized premiums on securities held outright⁵		349,308	- 1,966	+ 66,068
Unamortized discounts on securities held outright⁵		-11,804	- 537	- 6,093
Repurchase agreements⁶		0	0	- 158,202
Loans⁷		73,124	+ 3,828	- 49,904
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁸		8,556	0	+ 5,184
Net portfolio holdings of Corporate Credit Facilities LLC⁸		25,970	- 5	+ 25,970
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁸		30,895	+ 3	+ 30,895
Net portfolio holdings of Municipal Liquidity Facility LLC⁸		11,121	- 297	+ 11,121
Net portfolio holdings of TALF II LLC⁸		5,284	+ 1	+ 5,284
Items in process of collection	(0)	75	+ 12	+ 34
Bank premises		1,925	+ 7	- 283
Central bank liquidity swaps⁹		703	+ 30	- 438,250
Foreign currency denominated assets¹⁰		21,656	+ 12	+ 1,131
Other assets¹¹		38,115	+ 170	+ 2,366

Total assets	(0)	7,780,962	- 39,986	+1,125,033

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 28, 2021	Change since
			Wednesday	Wednesday
			Apr 21, 2021	Apr 29, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,114,276	+ 3,098	+ 252,145
Reverse repurchase agreements¹²		382,891	+ 80,101	+ 113,785
Deposits	(0)	5,184,223	- 121,552	+ 724,085
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,889,018	+ 121,564	+ 725,505
U.S. Treasury, General Account		932,287	- 71,156	- 143,945
Foreign official		29,092	- 772	+ 12,769
Other¹³	(0)	333,827	- 171,186	+ 129,757
Deferred availability cash items	(0)	908	+ 745	- 530
Treasury contributions to credit facilities¹⁴		50,278	0	+ 50,278
Other liabilities and accrued dividends¹⁵		9,116	- 2,379	- 15,163

Total liabilities	(0)	7,741,693	- 39,986	+1,124,602

Capital accounts
Capital paid in		32,484	0	+ 471
Surplus		6,785	0	- 40
Other capital accounts		0	0	0

Total capital		39,269	0	+ 431

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 28, 2021

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificates and special drawing rights certificates	16,237	531	5,422	523	752	1,187	2,188	1,136	475	273	455	1,220	2,075
Coin	1,384	25	34	110	70	193	127	237	26	41	95	157	271
Securities, unamortized premiums and discounts, repurchase agreements, and loans¹	7,619,042	126,507	4,277,640	163,606	280,438	508,438	443,998	412,905	99,701	75,228	104,437	335,103	791,039
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	25,970	0	25,970	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program)²	30,895	30,895	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Municipal Liquidity Facility LLC²	11,121	0	11,121	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF II LLC²	5,284	0	5,284	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps³	703	32	236	25	61	146	32	28	13	6	8	13	103
Foreign currency denominated
assets⁴	21,656	983	7,279	778	1,872	4,507	979	849	412	184	234	390	3,189
Other assets⁵	40,115	756	21,155	942	1,509	2,966	2,487	2,220	661	474	856	2,005	4,082
Interdistrict settlement account	0	+ 23,974	- 224,994	+ 28,259	+ 20,251	- 1,660	+ 8,154	+ 62,388	+ 9,975	- 6,316	+ 7,712	+ 17,126	+ 55,132

Total assets	7,780,962	183,703	4,137,702	194,243	304,953	515,776	457,965	479,763	111,263	69,890	113,797	356,014	855,892

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 28, 2021 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes, net	2,114,276	63,404	688,021	59,239	104,715	156,722	295,189	129,450	58,508	33,084	54,614	186,257	285,076
Reverse repurchase agreements⁶	382,891	6,398	216,431	8,087	13,932	25,657	22,434	20,894	4,992	2,963	5,084	16,932	39,086
Deposits	5,184,223	97,389	3,179,645	125,242	182,586	324,461	137,992	327,350	46,814	32,426	53,422	151,719	525,178
Depository institutions	3,889,018	97,378	2,054,351	125,240	182,124	323,757	137,858	161,010	46,808	32,207	52,095	151,038	525,151
U.S. Treasury, General Account	932,287	0	932,287	0	0	0	0	0	0	0	0	0	0
Foreign official	29,092	2	29,065	1	3	8	2	2	1	0	0	1	6
Other⁷	333,827	10	163,942	0	458	696	131	166,339	6	218	1,327	680	21
Earnings remittances due to the U.S. Treasury⁸	694	5	419	12	24	45	42	32	6	1	7	30	71
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	9,329	-1,844	6,308	256	309	744	525	501	197	1,068	235	357	674

Total liabilities	7,741,693	181,925	4,124,530	192,836	301,565	507,629	456,181	478,226	110,518	69,542	113,363	355,295	850,084

Capital
Capital paid in	32,484	1,470	10,892	1,164	2,801	6,735	1,477	1,270	617	291	361	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	7,780,962	183,703	4,137,702	194,243	304,953	515,776	457,965	479,763	111,263	69,890	113,797	356,014	855,892

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 28, 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).

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
Federal Reserve notes and collateral	Apr 28, 2021
Federal Reserve notes outstanding	2,277,131
Less: Notes held by F.R. Banks not subject to collateralization	162,855
Federal Reserve notes to be collateralized	2,114,276
Collateral held against Federal Reserve notes	2,114,276
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	2,098,040
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	7,208,414
Less: Face value of securities under reverse repurchase agreements	363,756
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,844,658

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