FRB: H.4.1 Release--Factors Affecting Reserve Balances-- September 24, 2020

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks September 24, 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 Sep 23, 2020
Federal Reserve Banks Sep 23, 2020 Sep 16, 2020 Sep 25, 2019

Reserve Bank credit 7,032,062 + 40,629 +3,223,547 7,053,440
Securities held outright (1) 6,438,478 + 58,075 +2,850,488 6,458,738
U.S. Treasury securities 4,416,105 + 13,346 +2,308,700 4,431,523
Bills (2) 326,044 0 + 320,042 326,044
Notes and bonds, nominal (2) 3,764,553 + 10,705 +1,805,605 3,779,831
Notes and bonds, inflation-indexed (2) 285,918 + 2,058 + 167,772 285,918
Inflation compensation (3) 39,590 + 583 + 15,281 39,731
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,020,027 + 44,729 + 541,789 2,024,868
Unamortized premiums on securities held outright (5) 332,945 + 2,741 + 205,379 333,951
Unamortized discounts on securities held outright (5) -4,870 + 53 + 7,856 -4,837
Repurchase agreements (6) 0 0 - 82,250 0
Foreign official 0 0 0 0
Others 0 0 - 82,250 0
Loans 77,924 - 153 + 77,829 78,231
Primary credit 3,137 + 342 + 3,133 3,359
Secondary credit 0 0 0 0
Seasonal credit 35 + 4 - 55 41
Primary Dealer Credit Facility 233 - 14 + 233 233
Money Market Mutual Fund Liquidity Facility 7,377 - 276 + 7,377 7,344
Paycheck Protection Program Liquidity Facility 67,141 - 210 + 67,141 67,254
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,588 0 + 8,588 8,588
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 44,974 + 122 + 44,974 44,972
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 39,177 + 256 + 39,177 39,355
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,545 + 2 + 16,545 16,546
Net portfolio holdings of TALF II LLC (7) 11,431 + 244 + 11,431 11,431
Float -204 + 45 - 75 -446
Central bank liquidity swaps (8) 32,610 - 22,209 + 32,568 31,950
Other Federal Reserve assets (9) 34,465 + 1,456 + 11,038 34,960
Foreign currency denominated assets (10) 21,680 + 26 + 1,063 21,510
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,397 + 14 + 409 50,397

Total factors supplying reserve funds 7,120,380 + 40,668 +3,225,019 7,141,588

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 Sep 23, 2020
Federal Reserve Banks Sep 23, 2020 Sep 16, 2020 Sep 25, 2019

Currency in circulation (11) 2,028,408 - 717 + 266,746 2,029,101
Reverse repurchase agreements (12) 200,304 + 118 - 93,787 204,352
Foreign official and international accounts 200,296 + 120 - 88,741 204,351
Others 8 - 2 - 5,046 1
Treasury cash holdings 47 - 3 - 123 40
Deposits with F.R. Banks, other than reserve balances 1,897,710 + 98,326 +1,503,659 1,898,360
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,680,688 + 65,833 +1,366,499 1,661,732
Foreign official 18,871 + 1,648 + 13,686 18,871
Other (13) 198,152 + 30,845 + 123,475 217,757
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 49,413 - 2,141 + 4,197 47,652

Total factors, other than reserve balances,
absorbing reserve funds 4,289,881 + 95,581 +1,794,691 4,293,506

Reserve balances with Federal Reserve Banks 2,830,499 - 54,913 +1,430,328 2,848,082

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 Sep 23, 2020
Sep 23, 2020 Sep 16, 2020 Sep 25, 2019

Securities held in custody for foreign official and
international accounts 3,424,105 + 17,397 - 34,458 3,422,115
Marketable U.S. Treasury securities (1) 2,987,481 + 21,233 - 27,911 2,988,192
Federal agency debt and mortgage-backed securities (2) 350,974 - 3,184 - 10,197 348,338
Other securities (3) 85,649 - 653 + 3,650 85,585
Securities lent to dealers 24,377 - 2,742 - 7,489 24,827
Overnight facility (4) 24,377 - 2,742 - 7,489 24,827
U.S. Treasury securities 24,377 - 2,742 - 7,489 24,827
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, September 23, 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) 3,100 3,457 4,420 67,254 0 ... 78,231
U.S. Treasury securities (2)
Holdings 72,212 247,998 671,972 1,665,299 787,290 986,752 4,431,523
Weekly changes + 12,799 - 9,884 + 3,879 + 6,795 + 9,053 + 1,876 + 24,518
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 2,225 78,972 1,943,665 2,024,868
Weekly changes 0 0 0 + 55 + 111 + 19,666 + 19,833
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 30 0 ... ... ... 30
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 1,837 ... ... 1,837
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 451 ... ... 1,651
Loans held by TALF II LLC (8) 0 26 0 2,871 ... ... 2,896
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 24,559 7,391 0 0 0 0 31,950
Reverse repurchase agreements (9) 204,352 0 ... ... ... ... 204,352
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
Sep 23, 2020

Mortgage-backed securities held outright (1) 2,024,868
Residential mortgage-backed securities 2,015,471
Commercial mortgage-backed securities 9,397

Commitments to buy mortgage-backed securities (2) 107,312
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 57

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 Sep 23, 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 30 30 8,558 8,588
Corporate Credit Facilities LLC 12,815 12,911 32,061 44,972
MS Facilities LLC (Main Street Lending Program) 1,837 1,837 37,518 39,355
Municipal Liquidity Facility LLC 1,651 1,651 14,895 16,546
TALF II LLC 2,922 2,896 8,535 11,431

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 Sep 23, 2020 Wednesday Wednesday
consolidation Sep 16, 2020 Sep 25, 2019

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,467 0 - 231
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,866,084 + 46,788 +3,069,255
Securities held outright (1) 6,458,738 + 44,351 +2,881,451
U.S. Treasury securities 4,431,523 + 24,518 +2,323,840
Bills (2) 326,044 0 + 320,042
Notes and bonds, nominal (2) 3,779,831 + 24,136 +1,820,626
Notes and bonds, inflation-indexed (2) 285,918 0 + 167,772
Inflation compensation (3) 39,731 + 383 + 15,401
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,024,868 + 19,833 + 557,611
Unamortized premiums on securities held outright
(5) 333,951 + 2,084 + 206,790
Unamortized discounts on securities held outright
(5) -4,837 + 69 + 7,877
Repurchase agreements (6) 0 0 - 105,000
Loans (7) 78,231 + 283 + 78,135
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,588 0 + 8,588
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 44,972 + 49 + 44,972
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 39,355 + 396 + 39,355
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,546 + 2 + 16,546
Net portfolio holdings of TALF II LLC (8) 11,431 + 1 + 11,431
Items in process of collection (0) 59 - 2 + 6
Bank premises 2,195 + 4 + 5
Central bank liquidity swaps (9) 31,950 - 20,324 + 31,908
Foreign currency denominated assets (10) 21,510 - 206 + 948
Other assets (11) 32,767 + 1,979 + 12,662

Total assets (0) 7,093,161 + 28,686 +3,235,446

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 Sep 23, 2020 Wednesday Wednesday
consolidation Sep 16, 2020 Sep 25, 2019

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,980,207 - 98 + 265,474
Reverse repurchase agreements (12) 204,352 + 5,870 - 86,189
Deposits (0) 4,746,445 + 23,212 +2,938,809
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,848,085 - 21,226 +1,420,796
U.S. Treasury, General Account 1,661,732 - 31,077 +1,355,922
Foreign official 18,871 + 5 + 13,684
Other (13) (0) 217,757 + 75,510 + 148,406
Deferred availability cash items (0) 505 + 231 + 370
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 8,543 - 538 + 3,156

Total liabilities (0) 7,054,053 + 28,678 +3,235,620

Capital accounts
Capital paid in 32,283 + 8 - 174
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 39,108 + 8 - 174

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, September 23, 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 1,467 28 30 119 80 207 144 243 25 43 99 163 286
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,866,084 161,808 3,527,168 161,078 214,572 430,885 504,339 383,200 109,143 71,078 113,960 330,039 858,815
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,588 0 8,588 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 44,972 0 44,972 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 39,355 39,355 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,546 0 16,546 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 11,431 0 11,431 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 31,950 1,517 10,737 1,150 2,730 6,744 1,585 1,241 524 250 337 379 4,757
Foreign currency denominated
assets (4) 21,510 1,021 7,231 774 1,838 4,539 1,067 835 353 168 227 255 3,202
Other assets (5) 35,021 2,392 15,424 860 1,150 2,465 2,646 1,980 680 452 845 1,886 4,241
Interdistrict settlement account 0 - 53,492 + 521,249 - 34,115 + 33,613 - 27,701 - 107,880 - 18,442 - 24,648 - 16,828 - 26,886 - 52,329 - 192,541

Total assets 7,093,161 153,162 4,168,860 130,395 254,743 418,304 404,082 370,194 86,555 55,434 89,031 281,596 680,805

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, September 23, 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 1,980,207 61,483 661,616 56,127 93,629 130,456 280,046 127,429 59,150 33,350 54,385 166,917 255,620
Reverse repurchase agreements (6) 204,352 4,589 105,805 4,662 6,394 12,808 15,060 11,414 3,229 1,931 3,250 9,849 25,363
Deposits 4,746,445 45,850 3,309,755 67,919 151,092 266,109 106,466 229,266 23,242 19,166 30,721 103,720 393,140
Depository institutions 2,848,085 45,811 1,523,000 67,918 151,052 265,552 106,384 119,412 23,237 19,108 30,684 102,805 393,123
U.S. Treasury, General Account 1,661,732 0 1,661,732 0 0 0 0 0 0 0 0 0 0
Foreign official 18,871 2 18,844 1 3 8 2 2 1 0 0 0 6
Other (7) 217,757 37 106,179 0 37 549 80 109,853 4 57 37 914 11
Earnings remittances due to the U.S.
Treasury (8) 1,806 33 994 38 41 77 139 101 27 15 28 94 219
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 7,242 376 2,521 240 282 676 571 453 194 644 227 355 703

Total liabilities 7,054,053 151,330 4,155,691 128,987 251,438 410,125 402,282 368,663 85,841 55,106 88,610 280,935 675,044

Capital
Capital paid in 32,283 1,507 10,875 1,162 2,722 6,738 1,461 1,266 602 275 349 580 4,746
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 7,093,161 153,162 4,168,860 130,395 254,743 418,304 404,082 370,194 86,555 55,434 89,031 281,596 680,805

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, September 23, 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) 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
Sep 23, 2020

Federal Reserve notes outstanding 2,131,210
Less: Notes held by F.R. Banks not subject to collateralization 151,003
Federal Reserve notes to be collateralized 1,980,207
Collateral held against Federal Reserve notes 1,980,207
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,963,970
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,458,738
Less: Face value of securities under reverse repurchase agreements 194,569
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,264,169

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.

Statistical releases