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

June 16, 2022

Reserve Bank credit

 8,892,848

+   12,285

+  928,125

 8,896,577

Securities held outright1

 8,489,408

+    8,448

+1,064,044

 8,492,644

U.S. Treasury securities

 5,770,456

-      711

+  628,607

 5,762,730

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,972,033

-    1,325

+  555,176

 4,964,082

Notes and bonds, inflation-indexed2

   382,966

         0

+   36,737

   382,966

Inflation compensation3

    89,412

+      614

+   36,693

    89,638

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,716,605

+    9,159

+  435,437

 2,727,567

Unamortized premiums on securities held outright5

   336,137

-      593

-   14,379

   335,858

Unamortized discounts on securities held outright5

   -24,631

-      120

-   10,684

   -24,867

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    21,896

+    1,322

-   65,947

    22,658

Primary credit

     2,705

+    1,776

+    2,195

     3,706

Secondary credit

         0

         0

         0

         0

Seasonal credit

         3

         0

-        6

         3

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    19,188

-      455

-   68,136

    18,949

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,554

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   25,854

         0

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

    26,641

-       36

-    3,920

    26,363

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,537

+        1

-    5,197

     5,538

Net portfolio holdings of TALF II LLC7

     2,196

+        1

-    2,566

     2,196

Float

      -127

+       29

-        2

      -168

Central bank liquidity swaps8

       199

+       16

-      301

       199

Other Federal Reserve assets9

    35,593

+    3,219

+    1,486

    36,155

Foreign currency denominated assets10

    18,248

-      419

-    3,348

    18,124

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,149

+       14

+      563

    51,149

Total factors supplying reserve funds

 8,978,486

+   11,880

+  925,341

 8,982,091

Currency in circulation11

 2,276,559

-    2,623

+   98,050

 2,276,909

Reverse repurchase agreements12

 2,441,747

+  129,540

+1,680,466

 2,421,604

Foreign official and international accounts

   265,979

+    3,871

+   46,521

   258,680

Others

 2,175,768

+  125,670

+1,633,945

 2,162,924

Treasury cash holdings

        94

+        3

+       51

        92

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

   907,814

-   59,688

-  160,837

 1,027,760

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   656,870

-   66,514

+    2,981

   769,937

Foreign official

     7,618

-        3

-   19,542

     7,435

Other13

   243,326

+    6,829

-  144,276

   250,388

Treasury contributions to credit facilities14

    17,940

         0

-   32,338

    17,940

Other liabilities and capital15

    50,379

+       99

-    3,966

    48,180

Total factors, other than reserve balances,
absorbing reserve funds

 5,694,532

+   67,330

+1,581,425

 5,792,486

Reserve balances with Federal Reserve Banks

 3,283,954

-   55,451

-  656,084

 3,189,605

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 MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

15.

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

Securities held in custody for foreign official and international accounts

 3,397,768

+    3,142

-  140,677

 3,400,993

Marketable U.S. Treasury securities1

 2,991,847

+    2,089

-  106,654

 2,994,035

Federal agency debt and mortgage-backed securities2

   322,585

+      978

-   27,964

   323,802

Other securities3

    83,336

+       75

-    6,059

    83,156

Securities lent to dealers

    45,675

+    6,431

+    9,292

    47,598

Overnight facility4

    45,675

+    6,431

+    9,292

    47,598

U.S. Treasury securities

    45,675

+    6,431

+    9,292

    47,598

Federal agency debt securities

         0

         0

         0

         0

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.

Loans1

     1,152

     2,574

         0

    18,931

         0

...

    22,658

U.S. Treasury securities2

Holdings

    79,168

   333,462

   816,561

 2,074,069

 1,028,941

 1,430,529

 5,762,730

Weekly changes

+   24,011

-   35,743

+    9,027

-    9,367

+    2,136

+    1,272

-    8,663

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

         1

        54

     2,062

    60,515

 2,664,934

 2,727,567

Weekly changes

         0

         0

         0

-       10

-      482

+   20,612

+   20,121

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    14,081

...

...

    14,081

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

         0

     1,141

...

...

     1,141

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       199

         0

         0

         0

         0

         0

       199

Reverse repurchase agreements8

 2,421,604

         0

...

...

...

...

 2,421,604

Term deposits

         0

         0

         0

...

...

...

         0

1.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF) and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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.

Mortgage-backed securities held outright1

 2,727,567

Residential mortgage-backed securities

 2,718,697

Commercial mortgage-backed securities

     8,870

Commitments to buy mortgage-backed securities2

    53,787

Commitments to sell mortgage-backed securities2

     3,281

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.

MS Facilities LLC (Main Street Lending Program)

    13,591

    12,212

    14,152

    26,363

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,631

     5,538

TALF II LLC

     1,171

     1,141

     1,056

     2,196

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 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, 2022.

b. 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.

c. 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 Municipal Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,253

-        3

+       15

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

 8,826,293

+   12,314

+  917,259

Securities held outright1

 8,492,644

+   11,458

+1,008,402

U.S. Treasury securities

 5,762,730

-    8,663

+  608,959

Bills2

   326,044

         0

         0

Notes and bonds, nominal2

 4,964,082

-    9,276

+  536,710

Notes and bonds, inflation-indexed2

   382,966

         0

+   35,707

Inflation compensation3

    89,638

+      614

+   36,542

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,727,567

+   20,121

+  399,443

Unamortized premiums on securities held outright5

   335,858

-      687

-   15,690

Unamortized discounts on securities held outright5

   -24,867

-      385

-   10,926

Repurchase agreements6

         0

         0

         0

Loans7

    22,658

+    1,927

-   64,527

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

         0

         0

-    8,554

Net portfolio holdings of Corporate Credit Facilities LLC8

         0

         0

-   25,844

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

    26,363

-      324

-    4,166

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,538

+        1

-    5,198

Net portfolio holdings of TALF II LLC8

     2,196

         0

-    2,566

Items in process of collection

(0)

        62

-        3

-        1

Bank premises

       620

+        5

-    1,297

Central bank liquidity swaps9

       199

+       16

-      301

Foreign currency denominated assets10

    18,124

-      402

-    3,465

Other assets11

    35,535

+    2,562

+    2,283

Total assets

(0)

 8,932,420

+   14,166

+  868,163

Liabilities

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

 2,227,101

-    1,985

+   97,556

Reverse repurchase agreements12

 2,421,604

+   17,290

+1,677,844

Deposits

(0)

 4,217,365

-      363

-  872,413

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,189,605

-  102,997

-  716,131

U.S. Treasury, General Account

   769,937

+   86,045

+    4,823

Foreign official

     7,435

-    1,299

-   19,520

Other13

(0)

   250,388

+   17,887

-  141,584

Deferred availability cash items

(0)

       229

+       28

+       71

Treasury contributions to credit facilities14

    17,940

         0

-   32,338

Other liabilities and accrued dividends15

     6,508

-      809

-    4,627

Total liabilities

(0)

 8,890,747

+   14,161

+  866,093

Capital accounts

Capital paid in

    34,887

+        4

+    2,069

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    41,672

+        4

+    2,069

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, 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 MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

15.

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

Assets

Gold certificates and special drawing rights certificates

    16,237

       544

     5,271

       537

       763

     1,203

     2,247

     1,093

       461

       263

       440

     1,279

     2,136

Coin

     1,253

        18

        24

       107

        46

       193

        95

       223

        25

        42

        93

       153

       234

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

 8,826,293

   176,328

 4,517,350

   202,265

   355,343

   613,662

   575,998

   602,176

   138,379

    69,360

   137,618

   451,568

   986,246

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    26,363

    26,363

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,538

         0

     5,538

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,196

         0

     2,196

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       199

         9

        69

         7

        19

        40

         6

         8

         4

         1

         2

         5

        28

Foreign currency denominated

assets4

    18,124

       780

     6,313

       672

     1,771

     3,634

       590

       687

       365

        91

       187

       435

     2,598

Other assets5

    36,216

       810

    17,412

       917

     1,491

     2,803

     2,410

     2,417

       844

       421

       844

     1,917

     3,931

Interdistrict settlement account

         0

-   14,537

+  272,941

-   19,444

-   72,463

-   48,689

+    9,766

-   10,999

+    4,732

-      542

-   10,267

-    8,352

-  102,147

Total assets

 8,932,420

   190,315

 4,827,116

   185,062

   286,970

   572,845

   591,112

   595,605

   144,811

    69,637

   128,916

   447,005

   893,026

Liabilities

Federal Reserve notes, net

 2,227,101

    72,664

   701,983

    60,581

   103,192

   151,706

   337,188

   127,664

    71,339

    33,856

    58,713

   195,475

   312,741

Reverse repurchase agreements6

 2,421,604

    48,480

 1,241,560

    55,632

    96,702

   168,753

   158,437

   165,540

    38,032

    17,170

    37,801

   124,155

   269,340

Deposits

 4,217,365

    54,377

 2,862,615

    67,063

    82,754

   243,059

    93,294

   300,186

    34,308

    18,162

    31,715

   125,803

   304,029

Depository institutions

 3,189,605

    54,364

 2,028,618

    67,062

    82,720

   242,628

    93,262

   107,446

    34,302

    17,972

    31,648

   125,586

   303,998

U.S. Treasury, General Account

   769,937

         0

   769,937

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,435

         2

     7,409

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   250,388

        12

    56,651

         0

        30

       423

        30

   192,738

         5

       190

        68

       216

        25

Earnings remittances due to the U.S. Treasury8

     1,797

        26

       962

        36

        61

        73

       158

       123

        16

         4

        18

       113

       207

Treasury contributions to credit facilities9

    17,940

    13,891

     4,049

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     4,941

      -890

     1,413

       254

       319

       811

       704

       581

       210

       178

       234

       379

       747

Total liabilities

 8,890,747

   188,548

 4,812,582

   183,566

   283,026

   564,403

   589,780

   594,094

   143,905

    69,370

   128,482

   445,926

   887,064

Capital

Capital paid in

    34,887

     1,474

    12,171

     1,245

     3,280

     7,081

     1,111

     1,254

       769

       232

       364

       917

     4,990

Surplus

     6,785

       292

     2,363

       252

       663

     1,361

       221

       257

       137

        34

        70

       163

       973

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 8,932,420

   190,315

 4,827,116

   185,062

   286,970

   572,845

   591,112

   595,605

   144,811

    69,637

   128,916

   447,005

   893,026

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 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 MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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).

Federal Reserve notes outstanding

 2,527,237

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

   300,135

Federal Reserve notes to be collateralized

 2,227,101

Collateral held against Federal Reserve notes

 2,227,101

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,210,864

Other assets pledged

         0

Memo:

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

 8,492,644

Less: Face value of securities under reverse repurchase agreements

 2,640,119

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

 5,852,525

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.