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Release Date: July 29, 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 July 29, 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 Jul 28, 2021
Federal Reserve Banks Jul 28, 2021 Jul 21, 2021 Jul 29, 2020
Reserve Bank credit 8,199,469 + 25,238 +1,282,927 8,181,858
Securities held outright (1) 7,665,645 + 25,662 +1,432,255 7,650,866
U.S. Treasury securities 5,256,969 + 19,955 + 980,893 5,263,740
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,526,915 + 17,490 + 882,910 4,531,831
Notes and bonds, inflation-indexed (2) 347,515 + 1,599 + 77,001 348,943
Inflation compensation (3) 56,495 + 867 + 20,982 56,922
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,406,329 + 5,707 + 451,362 2,384,779
Unamortized premiums on securities held outright (5) 353,239 - 60 + 32,579 352,549
Unamortized discounts on securities held outright (5) -14,616 - 78 - 9,556 -14,649
Repurchase agreements (6) 0 0 0 0
Foreign official 0 0 0 0
Others 0 0 0 0
Loans 86,269 - 1,187 - 5,803 85,487
Primary credit 414 - 64 - 3,733 472
Secondary credit 0 0 0 0
Seasonal credit 16 0 - 18 16
Primary Dealer Credit Facility 0 0 - 1,830 0
Money Market Mutual Fund Liquidity Facility 0 0 - 15,900 0
Paycheck Protection Program Liquidity Facility 85,839 - 1,124 + 15,724 85,000
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 0 0 - 9,789 0
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 22,649 + 7 - 21,521 22,654
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,440 + 7 - 7,088 30,445
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 9,760 + 2 - 6,325 9,761
Net portfolio holdings of TALF II LLC (7) 4,690 0 - 4,749 4,690
Float -203 - 93 + 68 -814
Central bank liquidity swaps (8) 476 + 1 - 117,565 476
Other Federal Reserve assets (9) 41,120 + 978 + 421 40,393
Foreign currency denominated assets (10) 21,198 - 36 - 300 21,236
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,768 + 14 + 478 50,768
Total factors supplying reserve funds 8,287,675 + 25,216 +1,283,104 8,270,103
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jul 28, 2021
Federal Reserve Banks Jul 28, 2021 Jul 21, 2021 Jul 29, 2020
Currency in circulation (11) 2,185,198 - 144 + 197,008 2,186,355
Reverse repurchase agreements (12) 1,155,763 + 69,570 + 939,483 1,220,133
Foreign official and international accounts 253,798 - 433 + 37,518 254,944
Others 901,966 + 70,004 + 901,966 965,189
Treasury cash holdings 50 + 3 + 3 48
Deposits with F.R. Banks, other than reserve balances 873,023 - 53,191 -1,149,640 774,254
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 578,204 - 99,899 -1,238,483 536,966
Foreign official 6,124 + 320 - 10,100 6,194
Other (13) 288,696 + 46,389 + 98,944 231,094
Treasury contributions to credit facilities (14) 40,278 0 - 73,722 40,278
Other liabilities and capital (15) 48,991 - 2,454 + 873 47,973
Total factors, other than reserve balances,
absorbing reserve funds 4,303,304 + 13,784 - 85,994 4,269,042
Reserve balances with Federal Reserve Banks 3,984,371 + 11,431 +1,369,099 4,001,061
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.
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 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 Jul 28, 2021
Jul 28, 2021 Jul 21, 2021 Jul 29, 2020
Securities held in custody for foreign official and
international accounts 3,514,404 - 12,070 + 107,011 3,511,494
Marketable U.S. Treasury securities (1) 3,079,131 - 3,377 + 118,448 3,077,833
Federal agency debt and mortgage-backed securities (2) 345,352 - 8,636 - 16,002 343,748
Other securities (3) 89,920 - 58 + 4,564 89,913
Securities lent to dealers 26,767 - 4,503 + 2,012 26,429
Overnight facility (4) 26,767 - 4,503 + 2,012 26,429
U.S. Treasury securities 26,767 - 4,503 + 2,012 26,429
Federal agency debt securities 0 0 0 0
Note: Components may not sum to totals because of rounding.
1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.
Does not include securities pledged as collateral to foreign official and international account holders
against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, July 28, 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) 235 252 11,774 73,225 0 ... 85,487
U.S. Treasury securities (2)
Holdings 78,906 282,952 676,407 2,034,725 962,161 1,228,589 5,263,740
Weekly changes + 1,904 - 2,296 + 450 + 14,357 + 2,747 + 3,591 + 20,753
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 14 1,782 63,522 2,319,461 2,384,779
Weekly changes 0 0 - 2 - 93 - 1,326 - 35,976 - 37,398
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (5) 0 0 0 16,158 ... ... 16,158
Municipal notes held by Municipal
Liquidity Facility LLC (6) 0 0 0 4,373 ... ... 4,373
Loans held by TALF II LLC (7) 0 0 0 1,479 ... ... 1,479
Repurchase agreements (8) 0 0 ... ... ... ... 0
Central bank liquidity swaps (9) 201 275 0 0 0 0 476
Reverse repurchase agreements (8) 1,220,133 0 ... ... ... ... 1,220,133
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 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 the loan participations held by the MS Facilities LLC.
6. Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
7. Book value of the loans held by the TALF II LLC.
8. Cash value of agreements.
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.
3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Jul 28, 2021
Mortgage-backed securities held outright (1) 2,384,779
Residential mortgage-backed securities 2,375,067
Commercial mortgage-backed securities 9,713
Commitments to buy mortgage-backed securities (2) 126,522
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 80
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
2. Current face value. Includes residential and commercial mortgage-backed securities. Residential
mortgage-backed securities generally settle within 180 calendar days and include commitments associated
with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities
generally settle within three business days.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5
and table 6.
4. Information on Principal Accounts of Credit Facilities LLCs
Millions of dollars
Credit Facilities LLCs: Wednesday Jul 28, 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
Corporate Credit Facilities LLC 10,333 5,153 17,501 22,654
MS Facilities LLC (Main Street Lending Program) 16,097 13,500 16,945 30,445
Municipal Liquidity Facility LLC 4,373 4,373 5,388 9,761
TALF II LLC 1,660 1,479 3,212 4,690
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 Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at
fair value. Asset balances from trading activity are
reported on a one-day lag after the transaction date.
b. 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.
c. 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.
d. 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: Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF
II LLC. Refer to the note on consolidation accompanying table 6.
5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jul 28, 2021 Wednesday Wednesday
consolidation Jul 21, 2021 Jul 29, 2020
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,251 + 3 - 271
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 8,074,253 - 19,123 +1,438,737
Securities held outright (1) 7,650,866 - 16,644 +1,421,575
U.S. Treasury securities 5,263,740 + 20,753 + 970,177
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,531,831 + 17,804 + 870,339
Notes and bonds, inflation-indexed (2) 348,943 + 1,999 + 78,429
Inflation compensation (3) 56,922 + 950 + 21,409
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,384,779 - 37,398 + 451,399
Unamortized premiums on securities held outright
(5) 352,549 - 1,090 + 31,843
Unamortized discounts on securities held outright
(5) -14,649 - 28 - 9,645
Repurchase agreements (6) 0 0 0
Loans (7) 85,487 - 1,361 - 5,036
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 0 0 - 8,900
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 22,654 + 6 - 21,556
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,445 + 6 - 7,143
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 9,761 + 1 - 6,325
Net portfolio holdings of TALF II LLC (8) 4,690 0 - 4,749
Items in process of collection (0) 78 + 25 + 21
Bank premises 1,766 - 101 - 434
Central bank liquidity swaps (9) 476 + 1 - 116,997
Foreign currency denominated assets (10) 21,236 + 23 - 405
Other assets (11) 38,626 + 103 + 463
Total assets (0) 8,221,473 - 19,057 +1,272,441
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jul 28, 2021 Wednesday Wednesday
consolidation Jul 21, 2021 Jul 29, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,136,883 + 1,126 + 192,904
Reverse repurchase agreements (12) 1,220,133 + 83,255 +1,003,080
Deposits (0) 4,775,315 - 101,901 + 149,236
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 4,001,061 + 26,514 +1,315,685
U.S. Treasury, General Account 536,966 - 79,328 -1,255,468
Foreign official 6,194 + 357 - 10,030
Other (13) (0) 231,094 - 49,445 + 99,049
Deferred availability cash items (0) 891 + 729 - 98
Treasury contributions to credit facilities (14) 40,278 0 - 73,722
Other liabilities and accrued dividends (15) 8,374 - 2,259 + 233
Total liabilities (0) 8,181,875 - 19,049 +1,271,634
Capital accounts
Capital paid in 32,814 - 6 + 848
Surplus 6,785 0 - 40
Other capital accounts 0 0 0
Total capital 39,599 - 6 + 808
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.
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 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, July 28, 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 1,251 20 25 115 56 181 118 230 15 31 88 146 227
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 8,074,253 133,613 4,526,571 172,240 306,513 536,665 468,880 436,841 105,037 88,740 107,995 354,331 836,827
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 22,654 0 22,654 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,445 30,445 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 9,761 0 9,761 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 4,690 0 4,690 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 476 22 160 17 41 99 22 19 9 4 5 9 70
Foreign currency denominated
assets (4) 21,236 964 7,138 762 1,836 4,419 960 832 404 181 230 383 3,127
Other assets (5) 40,470 770 21,443 956 1,539 2,988 2,508 2,240 666 483 856 1,893 4,128
Interdistrict settlement account 0 + 27,309 - 353,854 + 13,997 + 1,299 + 6,894 + 48,065 + 99,056 + 13,772 - 10,104 + 13,774 + 43,612 + 96,181
Total assets 8,221,473 193,674 4,244,010 188,610 312,036 552,432 522,741 540,354 120,378 79,608 123,402 401,594 942,635
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, July 28, 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 2,136,883 66,052 694,104 63,597 103,863 155,516 304,479 126,937 57,844 32,474 53,238 195,359 283,419
Reverse repurchase agreements (6) 1,220,133 20,389 689,688 25,770 44,396 81,759 71,490 66,583 15,907 9,441 16,202 53,956 124,551
Deposits 4,775,315 90,855 2,818,008 97,439 159,866 305,991 144,274 344,652 45,655 36,441 53,262 150,971 527,901
Depository institutions 4,001,061 90,731 2,225,628 97,438 159,821 305,263 144,141 165,317 45,648 36,143 52,430 150,625 527,874
U.S. Treasury, General Account 536,966 0 536,966 0 0 0 0 0 0 0 0 0 0
Foreign official 6,194 2 6,168 1 3 8 2 2 1 0 0 1 6
Other (7) 231,094 122 49,246 0 42 719 131 179,333 6 297 831 345 20
Earnings remittances due to the U.S.
Treasury (8) 1,636 10 966 28 63 127 83 95 11 4 22 67 159
Treasury contributions to credit
facilities (9) 40,278 16,572 23,706 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 7,629 -1,971 4,271 275 340 871 621 547 218 1,024 243 408 781
Total liabilities 8,181,875 191,909 4,230,743 187,110 308,529 544,263 520,948 538,813 119,636 79,383 122,967 400,762 936,812
Capital
Capital paid in 32,814 1,457 10,987 1,256 2,921 6,756 1,486 1,275 613 167 362 710 4,824
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 8,221,473 193,674 4,244,010 188,610 312,036 552,432 522,741 540,354 120,378 79,608 123,402 401,594 942,635
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, July 28, 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.
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 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
Jul 28, 2021
Federal Reserve notes outstanding 2,348,057
Less: Notes held by F.R. Banks not subject to collateralization 211,174
Federal Reserve notes to be collateralized 2,136,883
Collateral held against Federal Reserve notes 2,136,883
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,120,646
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,650,866
Less: Face value of securities under reverse repurchase agreements 1,144,557
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,506,309
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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