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FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern Time

July 22, 2021

The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect closing the Commercial Paper Funding Facility II LLC (CPFF II LLC). CPFF II LLC related lines were removed from table 2, table 4, and table 6. Footnote 1 in Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities (table 2) and Footnotes 2 and 3 in Information on Principal Amounts of Credit Facilities LLCs (table 4) were revised accordingly.

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

July 22, 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
Jul 21, 2021

Week ended
Jul 21, 2021

Change from week ended

Jul 14, 2021

Jul 22, 2020

Reserve Bank credit

8,174,231

+   94,480

+1,262,072

8,201,670

Securities held outright1

7,639,983

+   93,013

+1,417,077

7,667,510

U.S. Treasury securities

5,237,014

+   23,847

+  977,706

5,242,987

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

4,509,425

+   32,159

+  879,382

4,514,027

Notes and bonds, inflation-indexed2

   345,916

-    7,541

+   77,975

   346,944

Inflation compensation3

    55,628

-      771

+   20,348

    55,972

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

2,400,622

+   69,166

+  439,371

2,422,177

Unamortized premiums on securities held outright5

   353,299

+    1,559

+   34,216

   353,639

Unamortized discounts on securities held outright5

   -14,538

-      106

-    9,311

   -14,621

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    87,456

-    1,023

-    5,327

    86,848

Primary credit

       478

+       96

-    4,127

       554

Secondary credit

         0

         0

         0

         0

Seasonal credit

        16

         0

-       12

        16

Primary Dealer Credit Facility

         0

         0

-    1,873

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-   17,952

         0

Paycheck Protection Program Liquidity Facility

    86,963

-    1,118

+   18,637

    86,278

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-   10,299

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

    22,642

-        7

-   21,152

    22,648

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

    30,433

-      123

-    7,083

    30,439

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,758

+        1

-    6,326

     9,760

Net portfolio holdings of TALF II LLC7

     4,690

+        1

-    4,749

     4,690

Float

      -110

-       18

+       64

      -108

Central bank liquidity swaps8

       475

-        1

-  125,847

       475

Other Federal Reserve assets9

    40,142

+    1,184

+      809

    40,391

Foreign currency denominated assets10

    21,234

-       36

+       86

    21,213

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,754

+       14

+      472

    50,754

Total factors supplying reserve funds

8,262,459

+   94,458

+1,262,630

8,289,878

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
Jul 21, 2021

Week ended
Jul 21, 2021

Change from week ended

Jul 14, 2021

Jul 22, 2020

Currency in circulation11

2,185,342

-    2,238

+  202,469

2,185,216

Reverse repurchase agreements12

1,086,193

+   36,198

+  869,247

1,136,878

Foreign official and international accounts

   254,231

-       64

+   37,286

   250,672

Others

   831,962

+   36,262

+  831,961

   886,206

Treasury cash holdings

        47

+        2

+        2

        50

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

   926,214

-    7,511

-1,078,813

   902,670

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   678,103

-   26,815

-1,126,841

   616,294

Foreign official

     5,804

+      572

-   10,427

     5,837

Other13

   242,307

+   18,731

+   58,455

   280,539

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    51,445

-    1,873

+    2,287

    50,238

Total factors, other than reserve balances,
absorbing reserve funds

4,289,520

+   24,577

-   78,529

4,315,331

Reserve balances with Federal Reserve Banks

3,972,940

+   69,882

+1,341,160

3,974,547

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.  

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 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
Jul 21, 2021

Week ended
Jul 21, 2021

Change from week ended

Jul 14, 2021

Jul 22, 2020

Securities held in custody for foreign official and international accounts

3,526,474

-   11,956

+  124,161

3,522,825

Marketable U.S. Treasury securities1

3,082,508

-   14,600

+  130,233

3,078,752

Federal agency debt and mortgage-backed securities2

   353,988

+    1,938

-   11,067

   353,597

Other securities3

    89,978

+      706

+    4,995

    90,475

Securities lent to dealers

    31,270

-    2,502

+    7,888

    27,364

Overnight facility4

    31,270

-    2,502

+    7,888

    27,364

U.S. Treasury securities

    31,270

-    2,502

+    7,888

    27,364

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, July 21, 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

       331

       238

    12,537

    73,741

         0

...

    86,848

U.S. Treasury securities2

Holdings

    77,002

   285,248

   675,957

2,020,368

   959,414

1,224,998

5,242,987

Weekly changes

+    1,398

-   16,703

+   22,943

-    5,151

+   10,780

+    7,151

+   20,417

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

        16

     1,875

    64,848

2,355,437

2,422,177

Weekly changes

         0

         0

         0

-        5

-      646

+   20,467

+   19,815

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    16,175

...

...

    16,175

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,481

...

...

     1,481

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       187

       288

         0

         0

         0

         0

       475

Reverse repurchase agreements8

1,136,878

         0

...

...

...

...

1,136,878

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 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 the loan participations held by the MS Facilities LLC.

6.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

7.

Book value of the loans held by the TALF II LLC.

8.

Cash value of agreements.

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.


3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Jul 21, 2021

Mortgage-backed securities held outright1

2,422,177

Residential mortgage-backed securities

2,412,441

Commercial mortgage-backed securities

     9,736

Commitments to buy mortgage-backed securities2

   102,643

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

        37

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 Jul 21, 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

Corporate Credit Facilities LLC

    10,333

     6,713

    15,935

    22,648

MS Facilities LLC (Main Street Lending Program)

    16,097

    13,517

    16,922

    30,439

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,387

     9,760

TALF II LLC

     1,660

     1,481

     3,209

     4,690

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 Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. Asset balances from trading activity are

    reported on a one-day lag after the transaction date.

b. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

    updated as of March 31, 2021.

c. 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.

d. 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: 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
Jul 21, 2021

Change since

Wednesday

Wednesday

Jul 14, 2021

Jul 22, 2020

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,248

+        5

-      274

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

8,093,376

+   38,931

+1,446,662

Securities held outright1

7,667,510

+   40,232

+1,428,685

U.S. Treasury securities

5,242,987

+   20,417

+  977,109

Bills2

   326,044

         0

         0

Notes and bonds, nominal2

4,514,027

+   29,275

+  877,602

Notes and bonds, inflation-indexed2

   346,944

-    7,943

+   78,831

Inflation compensation3

    55,972

-      915

+   20,676

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

2,422,177

+   19,815

+  451,577

Unamortized premiums on securities held outright5

   353,639

+      280

+   33,141

Unamortized discounts on securities held outright5

   -14,621

-      169

-    9,460

Repurchase agreements6

         0

         0

         0

Loans7

    86,848

-    1,412

-    5,704

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

         0

         0

-   10,105

Net portfolio holdings of Corporate Credit Facilities LLC8

    22,648

+        7

-   21,398

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

    30,439

-      125

-    7,079

Net portfolio holdings of Municipal Liquidity Facility LLC8

     9,760

+        2

-    6,325

Net portfolio holdings of TALF II LLC8

     4,690

+        1

-    4,749

Items in process of collection

(0)

        53

-       13

+        1

Bank premises

     1,867

-        7

-      332

Central bank liquidity swaps9

       475

-        1

-  121,517

Foreign currency denominated assets10

    21,213

-       45

-       54

Other assets11

    38,523

+      125

+      944

Total assets

(0)

8,240,530

+   38,879

+1,275,775

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
Jul 21, 2021

Change since

Wednesday

Wednesday

Jul 14, 2021

Jul 22, 2020

Liabilities

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

2,135,757

-    1,762

+  198,742

Reverse repurchase agreements12

1,136,878

+   25,911

+  922,213

Deposits

(0)

4,877,216

+   19,877

+  226,321

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

3,974,547

+   29,847

+1,314,889

U.S. Treasury, General Account

   616,294

-   41,248

-1,160,886

Foreign official

     5,837

+      587

-   10,387

Other13

(0)

   280,539

+   30,692

+   82,706

Deferred availability cash items

(0)

       162

-        7

-      145

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

    10,633

-    5,142

+    1,520

Total liabilities

(0)

8,200,924

+   38,877

+1,274,930

Capital accounts

Capital paid in

    32,820

+        1

+      884

Surplus

     6,785

         0

-       40

Other capital accounts

         0

         0

         0

Total capital

    39,605

+        1

+      844

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.

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 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, July 21, 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

       531

     5,422

       523

       752

     1,187

     2,188

     1,136

       475

       273

       455

     1,220

     2,075

Coin

     1,248

        20

        25

       113

        56

       181

       115

       233

        15

        31

        86

       148

       224

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

8,093,376

   133,921

4,536,885

   173,289

   307,191

   537,870

   469,946

   437,805

   105,306

    88,978

   108,267

   355,062

   838,857

Net portfolio holdings of Corporate Credit Facilities LLC2

    22,648

         0

    22,648

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    30,439

    30,439

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,760

         0

     9,760

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,690

         0

     4,690

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       475

        22

       160

        17

        41

        99

        21

        19

         9

         4

         5

         9

        70

Foreign currency denominated

assets4

    21,213

       963

     7,130

       762

     1,834

     4,414

       959

       831

       403

       180

       229

       382

     3,124

Other assets5

    40,444

       771

    21,452

       956

     1,536

     2,996

     2,485

     2,241

       666

       472

       846

     1,894

     4,129

Interdistrict settlement account

         0

+   27,403

-  270,175

+   16,402

+    2,493

-   15,547

+   37,559

+   83,603

+    9,818

-   12,026

+   12,309

+   29,783

+   78,380

Total assets

8,240,530

   194,069

4,337,996

   192,062

   313,903

   531,200

   513,274

   525,868

   116,692

    77,913

   122,197

   388,497

   926,859

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, July 21, 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

2,135,757

    66,002

   694,812

    63,462

   104,032

   155,757

   303,451

   127,068

    57,552

    32,450

    53,076

   195,653

   282,443

Reverse repurchase agreements6

1,136,878

    18,998

   642,627

    24,012

    41,367

    76,180

    66,612

    62,040

    14,822

     8,797

    15,097

    50,275

   116,053

Deposits

4,877,216

    92,661

2,956,851

   102,744

   164,519

   290,067

   140,618

   334,480

    43,314

    36,097

    53,302

   141,171

   521,393

Depository institutions

3,974,547

    92,650

2,234,406

   102,742

   164,474

   289,535

   140,505

   157,080

    43,305

    35,869

    51,771

   140,844

   521,366

U.S. Treasury, General Account

   616,294

         0

   616,294

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,837

         2

     5,810

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   280,539

         9

   100,341

         0

        42

       523

       111

   177,399

         8

       228

     1,531

       327

        21

Earnings remittances due to the U.S. Treasury8

     1,980

        22

     1,163

        38

        75

       125

       116

        95

        23

        13

        26

        87

       197

Treasury contributions to credit facilities9

    40,278

    16,572

    23,706

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     8,815

    -1,951

     5,570

       307

       403

       903

       685

       645

       238

       332

       261

       479

       943

Total liabilities

8,200,924

   192,304

4,324,729

   190,562

   310,395

   523,032

   511,481

   524,327

   115,950

    77,688

   121,762

   387,665

   921,029

Capital

Capital paid in

    32,820

     1,457

    10,987

     1,256

     2,921

     6,756

     1,486

     1,275

       613

       167

       362

       710

     4,831

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

8,240,530

   194,069

4,337,996

   192,062

   313,903

   531,200

   513,274

   525,868

   116,692

    77,913

   122,197

   388,497

   926,859

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, July 21, 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.

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 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

Jul 21, 2021

Federal Reserve notes outstanding

2,343,005

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

   207,248

Federal Reserve notes to be collateralized

2,135,757

Collateral held against Federal Reserve notes

2,135,757

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

2,119,520

Other assets pledged

         0

Memo:

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

7,667,510

Less: Face value of securities under reverse repurchase agreements

1,080,585

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

6,586,925

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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