FRB: H.4.1 Release--Factors Affecting Reserve Balances-- December 31, 2020

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks December 31, 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 Dec 30, 2020
Federal Reserve Banks Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Reserve Bank credit 7,350,410 + 4,827 +3,229,014 7,322,274
Securities held outright (1) 6,757,661 + 388 +3,017,726 6,730,731
U.S. Treasury securities 4,688,906 + 16,323 +2,359,995 4,688,916
Bills (2) 326,044 0 + 156,519 326,044
Notes and bonds, nominal (2) 4,007,193 + 15,050 +1,999,635 4,007,193
Notes and bonds, inflation-indexed (2) 312,024 + 1,199 + 185,648 312,024
Inflation compensation (3) 43,644 + 73 + 18,192 43,654
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,066,409 - 15,934 + 657,732 2,039,468
Unamortized premiums on securities held outright (5) 344,135 - 154 + 219,510 342,923
Unamortized discounts on securities held outright (5) -5,439 + 22 + 7,844 -5,430
Repurchase agreements (6) 1,000 - 1 - 241,326 1,000
Foreign official 1,000 - 1 + 1,000 1,000
Others 0 0 - 242,326 0
Loans 56,977 - 1,247 + 56,951 56,701
Primary credit 1,785 - 360 + 1,770 1,735
Secondary credit 0 0 0 0
Seasonal credit 0 0 - 11 0
Primary Dealer Credit Facility 485 + 66 + 485 485
Money Market Mutual Fund Liquidity Facility 3,873 - 516 + 3,873 3,621
Paycheck Protection Program Liquidity Facility 50,834 - 437 + 50,834 50,860
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,557 0 + 8,557 8,557
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 46,455 + 107 + 46,455 46,532
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 53,517 + 3,632 + 53,517 54,073
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 21,275 + 7 + 21,275 21,278
Net portfolio holdings of TALF II LLC (7) 12,663 + 114 + 12,663 12,664
Float -192 - 69 + 278 -761
Central bank liquidity swaps (8) 16,983 + 605 + 13,254 17,883
Other Federal Reserve assets (9) 36,816 + 1,420 + 12,308 36,122
Foreign currency denominated assets (10) 22,238 - 19 + 1,537 22,429
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,521 + 14 + 450 50,521

Total factors supplying reserve funds 7,439,411 + 4,823 +3,231,001 7,411,465

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 Dec 30, 2020
Federal Reserve Banks Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Currency in circulation (11) 2,081,540 + 10,130 + 275,660 2,086,909
Reverse repurchase agreements (12) 205,017 + 8,862 - 80,792 209,763
Foreign official and international accounts 204,753 + 8,856 - 61,003 209,111
Others 264 + 6 - 19,788 652
Treasury cash holdings 30 - 1 - 141 28
Deposits with F.R. Banks, other than reserve balances 1,866,256 + 7,479 +1,410,453 1,808,390
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,591,055 - 11,352 +1,208,502 1,613,514
Foreign official 21,830 + 4 + 16,648 21,831
Other (13) 253,372 + 18,827 + 185,304 173,045
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 50,412 - 762 + 5,511 49,404

Total factors, other than reserve balances,
absorbing reserve funds 4,317,254 + 25,706 +1,724,691 4,268,495

Reserve balances with Federal Reserve Banks 3,122,156 - 20,885 +1,506,310 3,142,970

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 Dec 30, 2020
Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Securities held in custody for foreign official and
international accounts 3,490,578 - 8,513 + 92,377 3,485,432
Marketable U.S. Treasury securities (1) 3,046,638 - 4,626 + 89,956 3,044,237
Federal agency debt and mortgage-backed securities (2) 357,359 - 3,888 - 1,545 354,616
Other securities (3) 86,581 + 2 + 3,966 86,578
Securities lent to dealers 29,127 + 1,524 - 5,865 32,200
Overnight facility (4) 29,127 + 1,524 - 5,865 32,200
U.S. Treasury securities 29,127 + 1,524 - 5,865 32,200
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, December 30, 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) 2,829 2,811 201 50,860 0 ... 56,701
U.S. Treasury securities (2)
Holdings 93,926 295,783 649,811 1,767,023 827,914 1,054,458 4,688,916
Weekly changes + 8,631 - 7,555 - 1,074 + 11,352 - 5,329 + 9 + 6,035
Federal agency debt securities (3)
Holdings 0 0 0 0 1,818 529 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 4 2,016 72,045 1,965,404 2,039,468
Weekly changes 0 0 0 - 91 - 1,467 - 45,548 - 47,106
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 16,481 ... ... 16,481
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 925 5,358 ... ... 6,283
Loans held by TALF II LLC (8) 0 0 0 3,552 ... ... 3,552
Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000
Central bank liquidity swaps (10) 7,166 10,717 0 0 0 0 17,883
Reverse repurchase agreements (9) 209,763 0 ... ... ... ... 209,763
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
Dec 30, 2020

Mortgage-backed securities held outright (1) 2,039,468
Residential mortgage-backed securities 2,029,628
Commercial mortgage-backed securities 9,840

Commitments to buy mortgage-backed securities (2) 195,401
Commitments to sell mortgage-backed securities (2) 84

Cash and cash equivalents (3) 8

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 Dec 30, 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 0 0 8,557 8,557
Corporate Credit Facilities LLC 14,116 14,315 32,217 46,532
MS Facilities LLC (Main Street Lending Program) 16,472 16,385 37,688 54,073
Municipal Liquidity Facility LLC 6,361 6,283 14,995 21,278
TALF II LLC 4,144 3,552 9,112 12,664

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

1. Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the note
on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC
upon settlement of the investment activity.
2. Outstanding amount of facility asset purchases:
a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value.
b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and
corporate bonds at book value. Asset balances
from trading activity are reported on a one-day lag after the transaction date.
c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations, net of an
allowance for loan losses updated as of
September 30, 2020, at face value.
d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances
from trading activity may be reported on
a one-day lag after the transaction date.
e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.
3. Includes short term receivables, interest and dividend receivables, and other assets of the
facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as
investments in nonmarketable Treasury securities and the residual portion which is held as cash and
cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are
eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6.
Amounts excluded are 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 Dec 30, 2020 Wednesday Wednesday
consolidation Dec 23, 2020 Jan 1, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,562 - 8 - 95
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,125,925 - 44,215 +3,019,014
Securities held outright (1) 6,730,731 - 41,072 +2,990,774
U.S. Treasury securities 4,688,916 + 6,035 +2,359,983
Bills (2) 326,044 0 + 156,519
Notes and bonds, nominal (2) 4,007,193 + 6,001 +2,000,643
Notes and bonds, inflation-indexed (2) 312,024 0 + 184,640
Inflation compensation (3) 43,654 + 33 + 18,180
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,039,468 - 47,106 + 630,791
Unamortized premiums on securities held outright
(5) 342,923 - 2,096 + 218,346
Unamortized discounts on securities held outright
(5) -5,430 + 13 + 7,854
Repurchase agreements (6) 1,000 0 - 254,619
Loans (7) 56,701 - 1,060 + 56,659
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,557 0 + 8,557
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 46,532 + 122 + 46,532
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 54,073 + 1,919 + 54,073
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 21,278 + 3 + 21,278
Net portfolio holdings of TALF II LLC (8) 12,664 + 1 + 12,664
Items in process of collection (0) 82 + 21 0
Bank premises 2,222 + 16 + 11
Central bank liquidity swaps (9) 17,883 + 1,050 + 14,155
Foreign currency denominated assets (10) 22,429 + 215 + 1,637
Other assets (11) 33,906 + 188 + 11,899

Total assets (0) 7,363,351 - 40,688 +3,189,725

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 Dec 30, 2020 Wednesday Wednesday
consolidation Dec 23, 2020 Jan 1, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,037,973 + 9,754 + 278,546
Reverse repurchase agreements (12) 209,763 + 11,239 - 126,886
Deposits (0) 4,951,367 - 62,157 +2,919,408
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,142,977 - 34,333 +1,594,128
U.S. Treasury, General Account 1,613,514 + 30,206 +1,209,661
Foreign official 21,831 + 5 + 16,649
Other (13) (0) 173,045 - 58,034 + 98,970
Deferred availability cash items (0) 843 + 580 + 118
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 10,203 - 66 + 3,859

Total liabilities (0) 7,324,150 - 40,650 +3,189,047

Capital accounts
Capital paid in 32,376 - 38 + 678
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 39,201 - 38 + 678

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, December 30, 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 1,562 31 40 131 86 206 154 258 32 43 106 182 292
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,125,925 163,601 3,669,978 167,566 222,742 446,250 523,097 396,436 113,097 74,769 116,936 342,607 888,846
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,557 0 8,557 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 46,532 0 46,532 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 54,073 54,073 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 21,278 0 21,278 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 12,664 0 12,664 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 17,883 849 6,010 644 1,528 3,775 887 694 293 140 189 212 2,663
Foreign currency denominated
assets (4) 22,429 1,060 7,608 803 1,908 4,712 1,107 867 366 175 235 265 3,324
Other assets (5) 36,211 2,405 15,871 901 1,183 2,604 2,737 2,039 691 478 872 2,069 4,361
Interdistrict settlement account 0 - 24,708 + 224,107 - 11,570 + 75,115 + 169,345 - 125,264 - 22,714 - 21,550 - 11,862 - 21,886 - 50,411 - 178,600

Total assets 7,363,351 197,843 4,018,129 159,003 303,324 628,056 404,900 378,717 93,408 64,012 96,901 296,127 722,930

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, December 30, 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 2,037,973 62,193 675,608 55,848 93,291 151,088 280,550 132,542 59,049 33,503 55,062 172,382 266,856
Reverse repurchase agreements (6) 209,763 4,711 108,607 4,786 6,563 13,147 15,459 11,716 3,314 1,982 3,336 10,109 26,034
Deposits 4,951,367 89,608 3,141,215 96,657 199,713 454,728 106,332 232,324 30,081 27,198 37,811 112,498 423,201
Depository institutions 3,142,977 89,586 1,445,220 96,656 198,967 453,967 106,318 123,414 30,080 27,050 37,763 110,781 423,175
U.S. Treasury, General Account 1,613,514 0 1,613,514 0 0 0 0 0 0 0 0 0 0
Foreign official 21,831 2 21,804 1 3 8 2 2 1 0 0 0 6
Other (7) 173,045 20 60,676 0 743 753 11 108,909 1 148 48 1,717 20
Earnings remittances due to the U.S.
Treasury (8) 722 5 410 12 22 49 38 29 12 3 11 25 106
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 10,324 532 4,116 291 352 865 718 572 224 997 260 448 949

Total liabilities 7,324,150 196,050 4,004,955 157,595 299,941 619,877 403,097 377,184 92,681 63,683 96,479 295,463 717,146

Capital
Capital paid in 32,376 1,470 10,880 1,163 2,800 6,738 1,464 1,269 615 275 350 583 4,768
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 7,363,351 197,843 4,018,129 159,003 303,324 628,056 404,900 378,717 93,408 64,012 96,901 296,127 722,930

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, December 30, 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
Dec 30, 2020

Federal Reserve notes outstanding 2,192,177
Less: Notes held by F.R. Banks not subject to collateralization 154,203
Federal Reserve notes to be collateralized 2,037,973
Collateral held against Federal Reserve notes 2,037,973
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,021,737
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,731,731
Less: Face value of securities under reverse repurchase agreements 203,718
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,528,013

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