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Release Date: July 02, 2020
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FEDERAL RESERVE statistical release
For Release at
4:30 P.M. Eastern time
July 2, 2020
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 include information related to TALF II LLC.
The TALF II LLC was introduced on the H.4.1 cover note on June 18, 2020
https://www.federalreserve.gov/releases/h41/current/. On June 25, 2020, the TALF II LLC began extending eligible loans under the Term Asset-Backed
Securities Loan Facility to facilitate the issuance of asset-based securities. The Federal Reserve Bank of New
York extended credit to the TALF II LLC under the authority of section 13(3) of the Federal Reserve Act, with
approval of the Treasury Secretary.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks July 2, 2020
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jul 1, 2020
Federal Reserve Banks Jul 1, 2020 Jun 24, 2020 Jul 3, 2019
Reserve Bank credit 6,975,799 - 33,865 +3,194,104 6,969,543
Securities held outright (1) 6,118,251 + 3,121 +2,479,253 6,126,948
U.S. Treasury securities 4,204,541 + 21,173 +2,100,616 4,213,220
Bills (2) 326,044 0 + 326,039 326,044
Notes and bonds, nominal (2) 3,576,089 + 19,375 +1,612,248 3,581,139
Notes and bonds, inflation-indexed (2) 266,682 + 2,130 + 150,166 270,206
Inflation compensation (3) 35,726 - 332 + 12,164 35,831
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,911,363 - 18,052 + 378,637 1,911,381
Unamortized premiums on securities held outright (5) 313,578 + 1,395 + 182,706 314,324
Unamortized discounts on securities held outright (5) -5,296 + 44 + 7,587 -5,345
Repurchase agreements (6) 75,379 + 2,250 + 75,379 61,201
Foreign official 144 + 144 + 144 1,001
Others 75,236 + 2,107 + 75,236 60,200
Loans 96,886 + 2,928 + 96,785 97,133
Primary credit 5,877 - 1,246 + 5,859 5,860
Secondary credit 0 0 0 0
Seasonal credit 13 + 1 - 70 16
Primary Dealer Credit Facility 2,616 - 1,364 + 2,616 2,486
Money Market Mutual Fund Liquidity Facility 21,617 - 1,851 + 21,617 20,637
Paycheck Protection Program Liquidity Facility 66,763 + 7,389 + 66,763 68,133
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 12,799 + 2 + 12,799 12,799
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 41,359 + 1,403 + 41,359 41,940
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 37,502 + 4,822 + 37,502 37,502
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,080 + 1 + 16,080 16,081
Net portfolio holdings of TALF II LLC (7) 8,753 + 1,467 + 8,753 8,753
Float -497 - 314 + 104 -756
Central bank liquidity swaps (8) 226,803 - 49,894 + 226,786 225,414
Other Federal Reserve assets (9) 34,203 - 1,091 + 9,011 33,548
Foreign currency denominated assets (10) 20,880 - 40 - 119 20,984
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,401 + 14 + 471 50,401
Total factors supplying reserve funds 7,063,322 - 33,891 +3,194,456 7,057,170
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 Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jul 1, 2020
Federal Reserve Banks Jul 1, 2020 Jun 24, 2020 Jul 3, 2019
Currency in circulation (11) 1,967,221 + 5,925 + 221,945 1,971,855
Reverse repurchase agreements (12) 220,099 - 3,666 - 91,598 227,236
Foreign official and international accounts 219,842 - 3,919 - 66,061 227,234
Others 258 + 254 - 25,536 2
Treasury cash holdings 65 - 15 - 117 63
Deposits with F.R. Banks, other than reserve balances 1,830,734 - 431 +1,520,847 1,834,890
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,657,620 + 33,678 +1,412,314 1,656,747
Foreign official 16,217 - 10 + 10,972 16,223
Other (13) 156,897 - 34,100 + 97,561 161,920
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 46,383 - 1,767 + 1,055 45,930
Total factors, other than reserve balances,
absorbing reserve funds 4,178,503 + 46 +1,766,133 4,193,973
Reserve balances with Federal Reserve Banks 2,884,819 - 33,937 +1,428,323 2,863,196
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 $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Jul 1, 2020
Jul 1, 2020 Jun 24, 2020 Jul 3, 2019
Securities held in custody for foreign official and
international accounts 3,414,046 - 15,834 - 34,908 3,405,803
Marketable U.S. Treasury securities (1) 2,960,292 - 8,591 - 64,728 2,952,343
Federal agency debt and mortgage-backed securities (2) 368,762 - 7,123 + 22,749 368,711
Other securities (3) 84,993 - 120 + 7,072 84,748
Securities lent to dealers 28,178 - 1,021 - 3,179 33,561
Overnight facility (4) 28,178 - 1,021 - 3,179 33,561
U.S. Treasury securities 28,178 - 1,021 - 3,179 33,561
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 1, 2020
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans (1) 7,581 14,148 7,271 68,133 0 ... 97,133
U.S. Treasury securities (2)
Holdings 64,471 250,820 635,460 1,597,928 732,150 932,391 4,213,220
Weekly changes + 143 - 23,188 + 30,338 + 5,481 - 3,733 + 6,774 + 15,816
Federal agency debt securities (3)
Holdings 0 0 0 0 1,436 911 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 5 2,175 79,401 1,829,799 1,911,381
Weekly changes 0 0 0 - 91 - 1,307 - 30,663 - 32,060
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 2,419 1,833 0 ... ... ... 4,252
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 0 ... ... 0
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 0 ... ... 1,200
Loans held by TALF II LLC (8) 0 0 0 252 ... ... 252
Repurchase agreements (9) 61,201 0 ... ... ... ... 61,201
Central bank liquidity swaps (10) 135,122 90,292 0 0 0 0 225,414
Reverse repurchase agreements (9) 227,236 0 ... ... ... ... 227,236
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
...Not applicable.
1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New
York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal
Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS
Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition,
respectively, consistent with consolidation under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation
that adjusts for the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC.
6. Book value of the loan participations held by the MS Facilities LLC.
7. Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
8. Book value of the loans held by the TALF II LLC.
9. Cash value of agreements.
10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Jul 1, 2020
Mortgage-backed securities held outright (1) 1,911,381
Residential mortgage-backed securities 1,902,207
Commercial mortgage-backed securities 9,174
Commitments to buy mortgage-backed securities (2) 101,821
Commitments to sell mortgage-backed securities (2) 167
Cash and cash equivalents (3) 16
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 1, 2020
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total
Commercial Paper Funding Facility II LLC 4,243 4,252 8,547 12,799
Corporate Credit Facilities LLC 9,673 10,006 31,934 41,940
MS Facilities LLC (Main Street Lending Program) 0 0 37,502 37,502
Municipal Liquidity Facility LLC 1,200 1,200 14,881 16,081
TALF II LLC 252 252 8,501 8,753
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 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 initially 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 Wednesday Change since
from Jul 1, 2020 Wednesday Wednesday
consolidation Jun 24, 2020 Jul 3, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,475 + 20 - 201
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,594,261 - 23,029 +2,845,806
Securities held outright (1) 6,126,948 - 16,245 +2,496,482
U.S. Treasury securities 4,213,220 + 15,816 +2,117,827
Bills (2) 326,044 0 + 326,039
Notes and bonds, nominal (2) 3,581,139 + 10,215 +1,625,869
Notes and bonds, inflation-indexed (2) 270,206 + 5,654 + 153,690
Inflation compensation (3) 35,831 - 53 + 12,230
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 1,911,381 - 32,060 + 378,655
Unamortized premiums on securities held outright
(5) 314,324 + 470 + 183,565
Unamortized discounts on securities held outright
(5) -5,345 - 26 + 7,529
Repurchase agreements (6) 61,201 - 9,000 + 61,201
Loans (7) 97,133 + 1,773 + 97,028
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 12,799 + 1 + 12,799
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 41,940 + 1,323 + 41,940
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 37,502 0 + 37,502
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,081 + 1 + 16,081
Net portfolio holdings of TALF II LLC (8) 8,753 + 253 + 8,753
Items in process of collection (0) 46 - 27 - 53
Bank premises 2,193 - 9 + 8
Central bank liquidity swaps (9) 225,414 - 49,549 + 225,397
Foreign currency denominated assets (10) 20,984 + 26 + 67
Other assets (11) 31,355 - 2,273 + 7,744
Total assets (0) 7,009,040 - 73,262 +3,195,842
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 Wednesday Change since
from Jul 1, 2020 Wednesday Wednesday
consolidation Jun 24, 2020 Jul 3, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,922,987 + 7,880 + 220,216
Reverse repurchase agreements (12) 227,236 + 6,874 - 69,616
Deposits (0) 4,698,086 - 87,951 +2,930,273
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,863,196 - 74,461 +1,377,983
U.S. Treasury, General Account 1,656,747 + 70,174 +1,435,836
Foreign official 16,223 + 1 + 10,978
Other (13) (0) 161,920 - 83,666 + 105,475
Deferred availability cash items (0) 801 + 516 + 217
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 7,084 - 515 + 1,134
Total liabilities (0) 6,970,195 - 73,196 +3,196,224
Capital accounts
Capital paid in 32,020 - 66 - 382
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 38,845 - 66 - 382
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 $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.
6. Statement of Condition of Each Federal Reserve Bank, July 1, 2020
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificates and special drawing
rights certificates 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045
Coin 1,475 28 39 125 84 205 151 244 27 39 90 166 276
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,594,261 169,144 3,382,119 154,725 205,162 413,023 483,168 367,502 104,688 66,023 109,821 315,962 822,925
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 12,799 0 12,799 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 41,940 0 41,940 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 37,502 37,502 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,081 0 16,081 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 8,753 0 8,753 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 225,414 10,700 75,754 8,112 19,263 47,578 11,180 8,754 3,695 1,765 2,377 2,676 33,562
Foreign currency denominated
assets (4) 20,984 991 7,118 752 1,785 4,408 1,036 811 342 164 220 248 3,110
Other assets (5) 33,594 2,385 14,695 819 1,117 2,384 2,536 1,910 685 457 817 1,718 4,070
Interdistrict settlement account 0 - 45,764 + 425,910 - 16,392 + 20,258 - 60,098 - 98,567 - 18,068 - 23,157 - 12,520 - 20,454 - 27,055 - 124,093
Total assets 7,009,040 175,520 3,990,690 148,669 248,429 408,664 401,687 362,290 86,759 56,197 93,321 294,917 741,895
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 1, 2020 (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 1,922,987 58,025 646,440 54,800 86,857 124,358 265,194 125,953 58,451 30,742 52,799 163,558 255,810
Reverse repurchase agreements (6) 227,236 5,103 117,653 5,184 7,110 14,242 16,746 12,692 3,590 2,148 3,614 10,951 28,203
Deposits 4,698,086 71,255 3,135,391 87,058 150,900 261,246 117,364 221,709 23,899 22,054 36,291 119,421 451,497
Depository institutions 2,863,196 71,232 1,394,991 87,057 150,851 260,507 117,244 130,849 23,895 21,964 35,533 117,582 451,491
U.S. Treasury, General Account 1,656,747 0 1,656,747 0 0 0 0 0 0 0 0 0 0
Foreign official 16,223 2 16,196 1 3 8 2 2 1 0 0 0 6
Other (7) 161,920 21 67,457 0 46 731 118 90,858 4 90 757 1,838 0
Earnings remittances due to the U.S.
Treasury (8) 697 25 307 16 22 66 63 38 15 11 7 34 93
Treasury contributions to credit
facilities (9) 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 7,189 282 2,892 204 242 567 480 384 168 918 195 302 557
Total liabilities 6,970,195 173,690 3,977,683 147,263 245,130 400,478 399,849 360,775 86,124 55,872 92,905 294,265 736,159
Capital
Capital paid in 32,020 1,506 10,714 1,161 2,715 6,745 1,499 1,250 523 272 344 571 4,719
Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 7,009,040 175,520 3,990,690 148,669 248,429 408,664 401,687 362,290 86,759 56,197 93,321 294,917 741,895
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 1, 2020 (continued)
1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight
securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the
purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an
effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and
seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit
extensions.
2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.
3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
4. Revalued daily at current foreign currency exchange rates.
5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio
holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.
6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by
depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
Account, for services provided by the Reserve Banks as fiscal agents of the United States.
8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after
providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and
Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) has extended loans to several 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.
The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The Federal Reserve Bank of Boston (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 1, 2020
Federal Reserve notes outstanding 2,076,372
Less: Notes held by F.R. Banks not subject to collateralization 153,385
Federal Reserve notes to be collateralized 1,922,987
Collateral held against Federal Reserve notes 1,922,987
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,906,750
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,188,149
Less: Face value of securities under reverse repurchase agreements 214,552
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,973,597
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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