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Release Date: June 17, 2021
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FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks June 17, 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 Jun 16, 2021
Federal Reserve Banks Jun 16, 2021 Jun 9, 2021 Jun 17, 2020
Reserve Bank credit 7,964,723 + 59,338 + 879,556 8,025,033
Securities held outright (1) 7,425,364 + 54,198 +1,346,739 7,484,242
U.S. Treasury securities 5,141,849 + 17,300 + 978,579 5,153,771
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,416,857 + 14,404 + 878,632 4,427,372
Notes and bonds, inflation-indexed (2) 346,229 + 1,886 + 83,535 347,259
Inflation compensation (3) 52,719 + 1,009 + 16,412 53,096
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,281,168 + 36,898 + 368,160 2,328,124
Unamortized premiums on securities held outright (5) 350,516 + 1,132 + 40,163 351,548
Unamortized discounts on securities held outright (5) -13,947 - 207 - 8,539 -13,941
Repurchase agreements (6) 0 0 - 120,429 0
Foreign official 0 0 0 0
Others 0 0 - 120,429 0
Loans 87,843 + 1,334 - 8,559 87,185
Primary credit 510 + 24 - 7,429 584
Secondary credit 0 0 0 0
Seasonal credit 9 0 - 3 9
Primary Dealer Credit Facility 0 0 - 5,621 0
Money Market Mutual Fund Liquidity Facility 0 0 - 25,604 0
Paycheck Protection Program Liquidity Facility 87,324 + 1,310 + 30,098 86,591
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,554 0 - 4,242 8,554
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 25,854 - 52 - 12,256 25,844
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,561 - 8 - 1,314 30,529
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 10,734 - 83 - 5,344 10,736
Net portfolio holdings of TALF II LLC (7) 4,762 + 1 + 4,762 4,762
Float -125 - 16 + 104 -95
Central bank liquidity swaps (8) 500 - 16 - 352,084 500
Other Federal Reserve assets (9) 34,107 + 3,056 + 554 35,168
Foreign currency denominated assets (10) 21,596 - 78 + 673 21,589
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,684 + 14 + 442 50,684
Total factors supplying reserve funds 8,053,243 + 59,273 + 880,670 8,113,547
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 Jun 16, 2021
Federal Reserve Banks Jun 16, 2021 Jun 9, 2021 Jun 17, 2020
Currency in circulation (11) 2,178,607 - 1,485 + 221,811 2,178,952
Reverse repurchase agreements (12) 761,281 + 50,771 + 528,316 743,760
Foreign official and international accounts 219,458 - 3,112 - 12,882 222,818
Others 541,823 + 53,883 + 541,197 520,942
Treasury cash holdings 43 + 5 - 70 43
Deposits with F.R. Banks, other than reserve balances 1,068,651 - 58,119 - 677,825 1,184,041
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 653,889 - 76,346 - 906,961 765,114
Foreign official 27,160 - 228 + 10,910 26,955
Other (13) 387,602 + 18,455 + 218,226 391,972
Treasury contributions to credit facilities (14) 50,278 0 - 56,579 50,278
Other liabilities and capital (15) 54,345 + 2,435 + 3,470 50,738
Total factors, other than reserve balances,
absorbing reserve funds 4,113,205 - 6,394 + 19,123 4,207,812
Reserve balances with Federal Reserve Banks 3,940,038 + 65,667 + 861,547 3,905,735
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 Jun 16, 2021
Jun 16, 2021 Jun 9, 2021 Jun 17, 2020
Securities held in custody for foreign official and
international accounts 3,538,445 - 9,181 + 119,125 3,536,840
Marketable U.S. Treasury securities (1) 3,098,501 - 9,394 + 141,768 3,098,053
Federal agency debt and mortgage-backed securities (2) 350,549 - 59 - 27,024 350,305
Other securities (3) 89,395 + 272 + 4,381 88,483
Securities lent to dealers 36,383 + 179 + 2,722 31,333
Overnight facility (4) 36,383 + 179 + 2,722 31,333
U.S. Treasury securities 36,383 + 179 + 2,722 31,333
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, June 16, 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) 359 234 18,430 68,159 2 ... 87,185
U.S. Treasury securities (2)
Holdings 79,372 292,109 656,183 1,982,040 943,249 1,200,819 5,153,771
Weekly changes + 28,641 - 35,701 + 12,192 + 3,392 + 9,315 + 6,042 + 23,880
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 15 1,837 66,472 2,259,800 2,328,124
Weekly changes 0 0 0 - 10 - 937 + 84,801 + 83,854
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 16,292 ... ... 16,292
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 0 5,358 ... ... 5,358
Loans held by TALF II LLC (8) 0 0 0 1,628 ... ... 1,628
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 147 353 0 0 0 0 500
Reverse repurchase agreements (9) 743,760 0 ... ... ... ... 743,760
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
Jun 16, 2021
Mortgage-backed securities held outright (1) 2,328,124
Residential mortgage-backed securities 2,318,352
Commercial mortgage-backed securities 9,772
Commitments to buy mortgage-backed securities (2) 162,989
Commitments to sell mortgage-backed securities (2) 5
Cash and cash equivalents (3) 924
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 Jun 16, 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 8,554 8,554
Corporate Credit Facilities LLC 13,609 12,765 13,079 25,844
MS Facilities LLC (Main Street Lending Program) 16,228 13,634 16,895 30,529
Municipal Liquidity Facility LLC 5,358 5,358 5,378 10,736
TALF II LLC 1,733 1,628 3,134 4,762
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, net of an allowance for loan losses
updated as of March 31, 2021.
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 Jun 16, 2021 Wednesday Wednesday
consolidation Jun 9, 2021 Jun 17, 2020
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,238 - 5 - 193
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,909,034 + 109,129 +1,338,862
Securities held outright (1) 7,484,242 + 107,734 +1,393,814
U.S. Treasury securities 5,153,771 + 23,880 + 984,431
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,427,372 + 21,804 + 884,983
Notes and bonds, inflation-indexed (2) 347,259 + 1,201 + 82,707
Inflation compensation (3) 53,096 + 875 + 16,740
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,328,124 + 83,854 + 409,383
Unamortized premiums on securities held outright
(5) 351,548 + 1,868 + 40,522
Unamortized discounts on securities held outright
(5) -13,941 - 78 - 8,575
Repurchase agreements (6) 0 0 - 79,053
Loans (7) 87,185 - 395 - 7,846
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,554 0 - 4,243
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 25,844 - 12 - 13,072
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,529 - 47 - 1,347
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 10,736 + 2 - 5,343
Net portfolio holdings of TALF II LLC (8) 4,762 0 + 4,762
Items in process of collection (0) 63 + 13 + 12
Bank premises 1,917 - 1 - 285
Central bank liquidity swaps (9) 500 - 16 - 351,970
Foreign currency denominated assets (10) 21,589 - 93 + 723
Other assets (11) 33,252 + 2,957 + 1,658
Total assets (0) 8,064,257 + 111,930 + 969,567
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 Jun 16, 2021 Wednesday Wednesday
consolidation Jun 9, 2021 Jun 17, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,129,545 - 1,233 + 218,659
Reverse repurchase agreements (12) 743,760 + 22,824 + 518,298
Deposits (0) 5,089,778 + 91,158 + 294,148
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,905,736 - 10,989 + 836,297
U.S. Treasury, General Account 765,114 + 91,559 - 800,192
Foreign official 26,955 - 538 + 10,708
Other (13) (0) 391,972 + 11,124 + 247,335
Deferred availability cash items (0) 158 - 24 - 110
Treasury contributions to credit facilities (14) 50,278 0 - 63,722
Other liabilities and accrued dividends (15) 11,135 - 885 + 1,604
Total liabilities (0) 8,024,654 + 111,839 + 968,878
Capital accounts
Capital paid in 32,818 + 91 + 728
Surplus 6,785 0 - 40
Other capital accounts 0 0 0
Total capital 39,603 + 91 + 688
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, June 16, 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 1,238 18 28 109 56 178 112 229 15 34 86 145 229
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,909,034 130,887 4,432,926 169,834 299,088 526,445 459,418 427,821 103,175 84,368 107,093 347,005 820,975
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,554 0 8,554 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 25,844 0 25,844 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,529 30,529 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 10,736 0 10,736 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 4,762 0 4,762 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 500 23 168 18 43 104 23 20 10 4 5 9 74
Foreign currency denominated
assets (4) 21,589 980 7,257 775 1,867 4,493 976 846 410 184 234 389 3,179
Other assets (5) 35,232 673 18,380 839 1,327 2,623 2,173 1,942 734 424 774 1,770 3,574
Interdistrict settlement account 0 + 7,636 - 212,378 + 29,959 + 15 - 23,136 + 31,263 + 72,657 + 10,723 - 12,488 + 8,147 + 23,278 + 64,324
Total assets 8,064,257 171,276 4,301,700 202,057 303,147 511,893 496,153 504,651 115,541 72,798 116,793 373,815 894,431
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, June 16, 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 2,129,545 62,938 697,964 63,420 104,362 157,081 300,173 127,419 58,194 32,348 53,449 191,379 280,819
Reverse repurchase agreements (6) 743,760 12,429 420,415 15,709 27,063 49,838 43,579 40,587 9,697 5,755 9,877 32,890 75,923
Deposits 5,089,778 79,508 3,129,460 121,058 167,710 295,744 149,764 334,307 46,636 34,115 52,728 148,109 530,639
Depository institutions 3,905,736 79,491 2,123,723 121,057 167,349 294,907 149,646 161,858 46,626 33,424 50,150 146,894 530,612
U.S. Treasury, General Account 765,114 0 765,114 0 0 0 0 0 0 0 0 0 0
Foreign official 26,955 2 26,929 1 3 8 2 2 1 0 0 1 6
Other (7) 391,972 16 213,695 0 357 828 116 172,447 9 691 2,577 1,215 21
Earnings remittances due to the U.S.
Treasury (8) 2,707 40 1,583 54 94 146 165 145 33 19 33 122 272
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 8,586 -1,991 5,305 315 411 917 679 652 240 337 273 483 964
Total liabilities 8,024,654 169,496 4,288,434 200,557 299,640 503,725 494,360 503,110 114,799 72,573 116,359 372,984 888,617
Capital
Capital paid in 32,818 1,472 10,986 1,257 2,921 6,756 1,486 1,275 613 167 361 709 4,815
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 8,064,257 171,276 4,301,700 202,057 303,147 511,893 496,153 504,651 115,541 72,798 116,793 373,815 894,431
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, June 16, 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
Jun 16, 2021
Federal Reserve notes outstanding 2,317,807
Less: Notes held by F.R. Banks not subject to collateralization 188,262
Federal Reserve notes to be collateralized 2,129,545
Collateral held against Federal Reserve notes 2,129,545
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,113,308
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,484,242
Less: Face value of securities under reverse repurchase agreements 712,150
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,772,093
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
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