FRB: H.4.1 Release--Factors Affecting Reserve Balances-- April 22, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks April 22, 2021

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 Apr 21, 2021
Federal Reserve Banks Apr 21, 2021 Apr 14, 2021 Apr 22, 2020

Reserve Bank credit 7,761,821 + 69,504 +1,310,612 7,781,505
Securities held outright (1) 7,232,329 + 66,462 +1,780,557 7,249,642
U.S. Treasury securities 4,991,390 + 21,745 +1,127,833 5,000,306
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,289,055 + 29,353 +1,017,482 4,297,074
Notes and bonds, inflation-indexed (2) 329,530 - 7,285 + 98,338 330,215
Inflation compensation (3) 46,761 - 323 + 12,012 46,973
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,238,592 + 44,717 + 652,724 2,246,989
Unamortized premiums on securities held outright (5) 351,442 + 180 + 80,429 351,274
Unamortized discounts on securities held outright (5) -11,113 - 1,218 - 4,670 -11,267
Repurchase agreements (6) 0 0 - 171,508 0
Foreign official 0 0 - 1 0
Others 0 0 - 171,507 0
Loans 67,006 + 3,002 - 51,835 69,296
Primary credit 869 + 161 - 34,084 1,084
Secondary credit 0 0 0 0
Seasonal credit 0 0 0 0
Primary Dealer Credit Facility 4 - 21 - 31,262 0
Money Market Mutual Fund Liquidity Facility 0 0 - 49,646 0
Paycheck Protection Program Liquidity Facility 66,134 + 2,862 + 63,157 68,212
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,556 0 + 6,040 8,556
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 25,961 + 21 + 25,961 25,975
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,887 - 76 + 30,887 30,892
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 11,416 + 2 + 11,416 11,418
Net portfolio holdings of TALF II LLC (7) 5,283 0 + 5,283 5,283
Float -94 + 140 + 110 -101
Central bank liquidity swaps (8) 673 - 122 - 405,599 673
Other Federal Reserve assets (9) 39,474 + 1,112 + 3,539 39,863
Foreign currency denominated assets (10) 21,580 + 163 + 1,122 21,644
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,630 + 14 + 434 50,630

Total factors supplying reserve funds 7,850,272 + 69,681 +1,312,169 7,870,020

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 Apr 21, 2021
Federal Reserve Banks Apr 21, 2021 Apr 14, 2021 Apr 22, 2020

Currency in circulation (11) 2,158,251 + 5,053 + 267,401 2,160,352
Reverse repurchase agreements (12) 276,410 + 10,420 - 14,194 302,790
Foreign official and international accounts 226,221 - 5,475 - 55,661 221,461
Others 50,189 + 15,895 + 41,467 81,329
Treasury cash holdings 67 - 11 - 234 61
Deposits with F.R. Banks, other than reserve balances 1,488,191 + 207,942 + 301,598 1,538,320
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,015,902 + 90,808 + 114,571 1,003,443
Foreign official 31,246 - 771 + 14,953 29,864
Other (13) 441,043 + 117,905 + 172,074 505,013
Treasury contributions to credit facilities (14) 50,278 - 858 + 50,278 50,278
Other liabilities and capital (15) 51,620 - 507 - 14,631 50,764

Total factors, other than reserve balances,
absorbing reserve funds 4,024,817 + 222,039 + 590,218 4,102,565

Reserve balances with Federal Reserve Banks 3,825,455 - 152,358 + 721,951 3,767,454

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 $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Apr 21, 2021
Apr 21, 2021 Apr 14, 2021 Apr 22, 2020

Securities held in custody for foreign official and
international accounts 3,559,766 + 5,767 + 239,577 3,556,686
Marketable U.S. Treasury securities (1) 3,117,423 - 1,251 + 265,836 3,109,513
Federal agency debt and mortgage-backed securities (2) 354,575 + 6,718 - 31,234 358,176
Other securities (3) 87,767 + 300 + 4,974 88,996
Securities lent to dealers 33,179 - 9,671 - 2,714 32,335
Overnight facility (4) 33,179 - 9,671 - 2,714 32,335
U.S. Treasury securities 33,179 - 9,671 - 2,714 32,335
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, April 21, 2021
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) 279 805 8,295 59,917 0 ... 69,296
U.S. Treasury securities (2)
Holdings 104,693 326,195 625,269 1,899,030 900,697 1,144,423 5,000,306
Weekly changes + 32,998 - 27,012 - 122 + 6,404 + 6,489 + 8,051 + 26,807
Federal agency debt securities (3)
Holdings 0 0 0 0 2,134 213 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 12 1,947 68,335 2,176,695 2,246,989
Weekly changes 0 0 0 - 7 - 718 - 1,306 - 2,030
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 16,370 ... ... 16,370
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 400 0 5,358 ... ... 5,758
Loans held by TALF II LLC (8) 0 0 0 1,840 ... ... 1,840
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 144 529 0 0 0 0 673
Reverse repurchase agreements (9) 302,790 0 ... ... ... ... 302,790
Term deposits 0 0 0 ... ... ... 0

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

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans
exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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
Apr 21, 2021

Mortgage-backed securities held outright (1) 2,246,989
Residential mortgage-backed securities 2,237,111
Commercial mortgage-backed securities 9,878

Commitments to buy mortgage-backed securities (2) 157,544
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 0

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
2. Current face value. Includes residential and commercial mortgage-backed securities. Residential
mortgage-backed securities generally settle within 180 calendar days and include commitments associated
with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities
generally settle within three business days.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5
and table 6.

4. Information on Principal Accounts of Credit Facilities LLCs
Millions of dollars
Credit Facilities LLCs: Wednesday Apr 21, 2021
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total

Commercial Paper Funding Facility II LLC 0 0 8,556 8,556
Corporate Credit Facilities LLC 13,825 13,774 12,201 25,975
MS Facilities LLC (Main Street Lending Program) 16,404 13,956 16,935 30,892
Municipal Liquidity Facility LLC 6,058 5,758 5,660 11,418
TALF II LLC 2,256 1,840 3,443 5,283

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
December 31, 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 approximately 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 Apr 21, 2021 Wednesday Wednesday
consolidation Apr 14, 2021 Apr 22, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,399 - 29 - 237
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,658,945 + 27,660 +1,573,262
Securities held outright (1) 7,249,642 + 24,777 +1,715,456
U.S. Treasury securities 5,000,306 + 26,807 +1,090,954
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,297,074 + 34,075 + 982,430
Notes and bonds, inflation-indexed (2) 330,215 - 6,943 + 96,523
Inflation compensation (3) 46,973 - 325 + 12,001
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,246,989 - 2,030 + 624,502
Unamortized premiums on securities held outright
(5) 351,274 - 463 + 73,237
Unamortized discounts on securities held outright
(5) -11,267 - 848 - 5,139
Repurchase agreements (6) 0 0 - 157,500
Loans (7) 69,296 + 4,194 - 52,792
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,556 0 + 5,824
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 25,975 + 16 + 25,975
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,892 - 78 + 30,892
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 11,418 + 2 + 11,418
Net portfolio holdings of TALF II LLC (8) 5,283 0 + 5,283
Items in process of collection (0) 63 + 8 + 28
Bank premises 1,918 + 2 - 289
Central bank liquidity swaps (9) 673 - 122 - 409,039
Foreign currency denominated assets (10) 21,644 + 129 + 1,239
Other assets (11) 37,945 + 257 + 3,458

Total assets (0) 7,820,948 + 27,844 +1,247,812

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 Apr 21, 2021 Wednesday Wednesday
consolidation Apr 14, 2021 Apr 22, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,111,178 + 3,927 + 263,516
Reverse repurchase agreements (12) 302,790 + 20,937 + 13,498
Deposits (0) 5,305,775 + 6,273 + 933,362
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,767,454 - 169,000 + 667,474
U.S. Treasury, General Account 1,003,443 + 81,758 + 53,444
Foreign official 29,864 - 1,211 + 13,561
Other (13) (0) 505,013 + 94,725 + 198,883
Deferred availability cash items (0) 163 - 111 - 178
Treasury contributions to credit facilities (14) 50,278 0 + 50,278
Other liabilities and accrued dividends (15) 11,495 - 3,183 - 13,102

Total liabilities (0) 7,781,679 + 27,843 +1,247,375

Capital accounts
Capital paid in 32,484 + 2 + 478
Surplus 6,785 0 - 40
Other capital accounts 0 0 0

Total capital 39,269 + 2 + 438

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 $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, April 21, 2021
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Assets
Gold certificates and special drawing
rights certificates 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075
Coin 1,399 27 35 111 69 194 126 242 24 42 97 157 277
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,658,945 127,172 4,301,924 164,788 281,080 511,473 446,534 415,446 100,278 73,504 105,213 337,131 794,403
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 25,975 0 25,975 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,892 30,892 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 11,418 0 11,418 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 5,283 0 5,283 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 673 31 226 24 58 140 30 26 13 6 7 12 99
Foreign currency denominated
assets (4) 21,644 982 7,275 777 1,871 4,504 979 848 412 184 234 390 3,187
Other assets (5) 39,926 754 21,066 938 1,503 2,978 2,465 2,208 660 463 853 1,971 4,067
Interdistrict settlement account 0 + 13,624 - 111,488 + 26,688 + 14,556 - 32,448 - 5,466 + 45,595 + 7,908 - 6,126 + 6,190 + 3,988 + 36,979

Total assets 7,820,948 174,013 4,275,693 193,849 299,889 488,027 446,856 465,500 109,768 68,346 113,049 344,869 841,088

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, April 21, 2021 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Liabilities
Federal Reserve notes, net 2,111,178 63,168 684,894 58,605 104,948 157,412 293,973 130,160 58,927 33,324 55,086 185,504 285,176
Reverse repurchase agreements (6) 302,790 5,060 171,154 6,395 11,017 20,289 17,741 16,523 3,948 2,343 4,021 13,390 30,909
Deposits 5,305,775 89,236 3,364,625 127,128 180,128 301,266 132,651 316,635 45,901 31,993 53,238 144,774 518,201
Depository institutions 3,767,454 89,220 1,993,583 127,126 179,254 300,419 132,517 152,991 45,894 31,800 52,076 144,400 518,175
U.S. Treasury, General Account 1,003,443 0 1,003,443 0 0 0 0 0 0 0 0 0 0
Foreign official 29,864 2 29,838 1 3 8 2 2 1 0 0 1 6
Other (7) 505,013 14 337,762 0 871 839 132 163,643 6 193 1,161 373 20
Earnings remittances due to the U.S.
Treasury (8) 1,465 29 764 31 50 105 104 75 31 11 20 65 181
Treasury contributions to credit
facilities (9) 50,278 16,572 33,706 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 10,193 -1,830 7,378 283 357 807 604 571 216 327 252 416 813

Total liabilities 7,781,679 172,235 4,262,521 192,442 296,501 479,879 445,072 463,964 109,023 67,997 112,615 344,150 835,280

Capital
Capital paid in 32,484 1,470 10,892 1,164 2,801 6,735 1,477 1,270 616 291 361 597 4,809
Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,820,948 174,013 4,275,693 193,849 299,889 488,027 446,856 465,500 109,768 68,346 113,049 344,869 841,088

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, April 21, 2021 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight
securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the
purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an
effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and
seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.
2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.
3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
4. Revalued daily at current foreign currency exchange rates.
5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. 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 each Federal Reserve Bank's allotted surplus cap.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and
Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal
Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S
dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On
May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at
issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility.
The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began extending loans to the
Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury
as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help
support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the
FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and
medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the
FRBB.
The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally
accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated
to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and
table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this
table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Apr 21, 2021

Federal Reserve notes outstanding 2,270,894
Less: Notes held by F.R. Banks not subject to collateralization 159,717
Federal Reserve notes to be collateralized 2,111,178
Collateral held against Federal Reserve notes 2,111,178
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,094,941
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,249,642
Less: Face value of securities under reverse repurchase agreements 289,971
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,959,671

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