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Release Date: September 10, 2020
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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 September 10, 2020
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Sep 9, 2020
Federal Reserve Banks Sep 9, 2020 Sep 2, 2020 Sep 11, 2019
Reserve Bank credit 6,968,229 + 6,595 +3,241,619 6,970,989
Securities held outright (1) 6,343,399 + 20,656 +2,753,291 6,345,567
U.S. Treasury securities 4,391,505 + 20,343 +2,293,349 4,393,621
Bills (2) 326,044 0 + 323,043 326,044
Notes and bonds, nominal (2) 3,745,962 + 18,320 +1,791,759 3,747,962
Notes and bonds, inflation-indexed (2) 281,116 + 1,549 + 164,114 281,116
Inflation compensation (3) 38,384 + 476 + 14,434 38,499
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,949,547 + 313 + 459,942 1,949,599
Unamortized premiums on securities held outright (5) 328,139 + 1,467 + 200,200 328,660
Unamortized discounts on securities held outright (5) -4,968 + 11 + 7,850 -4,958
Repurchase agreements (6) 0 0 0 2
Foreign official 0 0 0 2
Others 0 0 0 0
Loans 79,471 - 1,397 + 79,383 78,362
Primary credit 2,838 + 104 + 2,837 2,710
Secondary credit 0 0 0 0
Seasonal credit 34 + 1 - 53 31
Primary Dealer Credit Facility 243 0 + 243 243
Money Market Mutual Fund Liquidity Facility 8,625 - 1,024 + 8,625 7,889
Paycheck Protection Program Liquidity Facility 67,732 - 476 + 67,732 67,489
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,588 0 + 8,588 8,588
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 44,797 + 128 + 44,797 44,790
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 38,835 + 279 + 38,835 38,899
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,542 + 1 + 16,542 16,543
Net portfolio holdings of TALF II LLC (7) 11,146 + 50 + 11,146 11,147
Float -175 + 495 - 6 -261
Central bank liquidity swaps (8) 72,069 - 16,941 + 72,029 72,069
Other Federal Reserve assets (9) 30,386 + 1,846 + 8,964 31,582
Foreign currency denominated assets (10) 21,587 - 143 + 872 21,582
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,396 + 14 + 421 50,396
Total factors supplying reserve funds 7,056,454 + 6,467 +3,242,913 7,059,208
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Sep 9, 2020
Federal Reserve Banks Sep 9, 2020 Sep 2, 2020 Sep 11, 2019
Currency in circulation (11) 2,027,076 + 10,098 + 260,839 2,030,151
Reverse repurchase agreements (12) 207,908 - 5,017 - 84,066 203,965
Foreign official and international accounts 207,908 - 5,012 - 82,106 203,964
Others 0 - 5 - 1,960 1
Treasury cash holdings 51 - 9 - 112 51
Deposits with F.R. Banks, other than reserve balances 1,799,059 - 7,396 +1,545,957 1,754,381
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,611,083 - 28,076 +1,425,741 1,570,533
Foreign official 16,752 + 137 + 11,496 16,774
Other (13) 171,224 + 20,544 + 108,720 167,073
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 50,896 + 3,243 + 5,627 49,807
Total factors, other than reserve balances,
absorbing reserve funds 4,198,991 + 920 +1,842,246 4,152,355
Reserve balances with Federal Reserve Banks 2,857,463 + 5,547 +1,400,667 2,906,853
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements.
7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury
contributions to the facility. Refer to note on consolidation below.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net
portfolio holdings of Maiden Lane LLC.
10. Revalued daily at current foreign currency exchange rates.
11. Estimated.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, designated financial market utilities, and deposits held by depository
institutions in joint accounts in connection with their participation in certain private-sector payment
arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account,
for services provided by the Reserve Banks as fiscal agents of the United States.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Sep 9, 2020
Sep 9, 2020 Sep 2, 2020 Sep 11, 2019
Securities held in custody for foreign official and
international accounts 3,398,573 - 2,765 - 54,488 3,390,830
Marketable U.S. Treasury securities (1) 2,958,497 - 3,225 - 53,197 2,950,918
Federal agency debt and mortgage-backed securities (2) 353,346 + 393 - 6,589 353,421
Other securities (3) 86,729 + 66 + 5,297 86,491
Securities lent to dealers 29,034 + 551 - 4,850 31,055
Overnight facility (4) 29,034 + 551 - 4,850 31,055
U.S. Treasury securities 29,034 + 551 - 4,850 31,055
Federal agency debt securities 0 0 0 0
Note: Components may not sum to totals because of rounding.
1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.
Does not include securities pledged as collateral to foreign official and international account holders
against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, September 9, 2020
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans (1) 1,783 4,634 4,456 67,489 1 ... 78,362
U.S. Treasury securities (2)
Holdings 42,916 279,463 656,032 1,662,166 770,951 982,093 4,393,621
Weekly changes - 8,776 + 16,461 - 7,656 + 87 + 4,018 + 2,850 + 6,984
Federal agency debt securities (3)
Holdings 0 0 0 0 1,436 911 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 5 2,179 79,456 1,867,958 1,949,599
Weekly changes 0 0 0 0 + 3,498 - 3,136 + 363
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 30 0 ... ... ... 30
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 1,380 ... ... 1,380
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 451 ... ... 1,651
Loans held by TALF II LLC (8) 2 0 0 2,637 ... ... 2,639
Repurchase agreements (9) 2 0 ... ... ... ... 2
Central bank liquidity swaps (10) 44,879 27,190 0 0 0 0 72,069
Reverse repurchase agreements (9) 203,965 0 ... ... ... ... 203,965
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
...Not applicable.
1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New
York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal
Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS
Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition,
respectively, consistent with consolidation under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation
that adjusts for the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC.
6. Book value of the loan participations held by the MS Facilities LLC.
7. Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
8. Book value of the loans held by the TALF II LLC.
9. Cash value of agreements.
10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Sep 9, 2020
Mortgage-backed securities held outright (1) 1,949,599
Residential mortgage-backed securities 1,940,285
Commercial mortgage-backed securities 9,313
Commitments to buy mortgage-backed securities (2) 167,125
Commitments to sell mortgage-backed securities (2) 8,000
Cash and cash equivalents (3) 373
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
2. Current face value. Includes residential and commercial mortgage-backed securities. Residential
mortgage-backed securities generally settle within 180 calendar days and include commitments associated
with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities
generally settle within three business days.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5
and table 6.
4. Information on Principal Accounts of Credit Facilities LLCs
Millions of dollars
Credit Facilities LLCs: Wednesday Sep 9, 2020
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total
Commercial Paper Funding Facility II LLC 30 30 8,558 8,588
Corporate Credit Facilities LLC 12,598 12,771 32,018 44,790
MS Facilities LLC (Main Street Lending Program) 1,379 1,380 37,519 38,899
Municipal Liquidity Facility LLC 1,651 1,651 14,893 16,543
TALF II LLC 2,639 2,639 8,508 11,147
Note: Components may not sum to totals because of rounding.
1. Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of
condition consistent with consolidation under generally accepted accounting principles. Refer to the note
on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC
upon settlement of the investment activity.
2. Outstanding amount of facility asset purchases:
a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value.
b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and
corporate bonds at book value. Asset balances
from trading activity are reported on a one-day lag after the transaction date.
c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face
value.
d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances
from trading activity may be reported on
a one-day lag after the transaction date.
e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.
3. Includes short term receivables, interest and dividend receivables, and other assets of the
facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as
investments in nonmarketable Treasury securities and the residual portion which is held as cash and
cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are
eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6.
Amounts excluded are initially 15% of Treasury contributions to the credit facilities from the
following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC,
Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table
6.
5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Sep 9, 2020 Wednesday Wednesday
consolidation Sep 2, 2020 Sep 11, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,469 - 8 - 237
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,747,633 + 6,459 +3,038,858
Securities held outright (1) 6,345,567 + 7,348 +2,752,446
U.S. Treasury securities 4,393,621 + 6,984 +2,292,452
Bills (2) 326,044 0 + 323,043
Notes and bonds, nominal (2) 3,747,962 + 5,333 +1,792,159
Notes and bonds, inflation-indexed (2) 281,116 + 1,201 + 162,970
Inflation compensation (3) 38,499 + 450 + 14,280
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 1,949,599 + 363 + 459,994
Unamortized premiums on securities held outright
(5) 328,660 + 1,180 + 200,349
Unamortized discounts on securities held outright
(5) -4,958 + 29 + 7,781
Repurchase agreements (6) 2 + 2 + 2
Loans (7) 78,362 - 2,100 + 78,279
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,588 0 + 8,588
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 44,790 + 34 + 44,790
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 38,899 + 212 + 38,899
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,543 + 1 + 16,543
Net portfolio holdings of TALF II LLC (8) 11,147 + 1 + 11,147
Items in process of collection (0) 74 + 19 + 29
Bank premises 2,190 0 + 6
Central bank liquidity swaps (9) 72,069 - 16,898 + 72,029
Foreign currency denominated assets (10) 21,582 - 132 + 959
Other assets (11) 29,393 + 3,434 + 9,331
Total assets (0) 7,010,614 - 6,878 +3,240,941
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Sep 9, 2020 Wednesday Wednesday
consolidation Sep 2, 2020 Sep 11, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,981,271 + 8,319 + 264,099
Reverse repurchase agreements (12) 203,965 - 8,699 - 90,285
Deposits (0) 4,661,235 - 6,881 +2,948,250
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,906,854 + 56,254 +1,448,187
U.S. Treasury, General Account 1,570,533 - 81,290 +1,386,952
Foreign official 16,774 + 155 + 11,518
Other (13) (0) 167,073 + 17,999 + 101,592
Deferred availability cash items (0) 336 - 524 + 149
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 10,715 + 895 + 4,890
Total liabilities (0) 6,971,522 - 6,889 +3,241,105
Capital accounts
Capital paid in 32,267 + 11 - 164
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 39,092 + 11 - 164
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions.
8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury
contributions to the facility. Refer to note on consolidation below.
9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
10. Revalued daily at current foreign currency exchange rates.
11. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, designated financial market utilities, and deposits held by depository
institutions in joint accounts in connection with their participation in certain private-sector payment
arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account,
for services provided by the Reserve Banks as fiscal agents of the United States.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.
6. Statement of Condition of Each Federal Reserve Bank, September 9, 2020
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificates and special drawing
rights certificates 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045
Coin 1,469 31 31 124 82 206 141 246 26 42 94 161 287
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,747,633 159,859 3,465,686 158,244 210,791 423,474 495,635 376,258 107,255 69,820 112,041 324,587 843,982
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,588 0 8,588 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 44,790 0 44,790 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 38,899 38,899 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,543 0 16,543 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 11,147 0 11,147 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 72,069 3,421 24,220 2,593 6,159 15,211 3,574 2,799 1,181 564 760 856 10,730
Foreign currency denominated
assets (4) 21,582 1,024 7,255 777 1,844 4,554 1,070 838 354 169 228 256 3,213
Other assets (5) 31,657 2,314 13,601 777 1,044 2,252 2,407 1,793 782 436 780 1,654 3,817
Interdistrict settlement account 0 - 25,903 + 339,278 - 24,393 + 43,245 + 4,723 - 97,021 - 7,589 - 20,898 - 13,280 - 22,060 - 38,019 - 138,084
Total assets 7,010,614 180,177 3,936,622 138,651 263,926 451,585 407,990 375,482 89,179 58,021 92,292 290,697 725,990
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, September 9, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes, net 1,981,271 61,607 662,767 56,387 94,107 129,080 278,082 127,878 59,750 33,188 54,774 167,014 256,636
Reverse repurchase agreements (6) 203,965 4,580 105,605 4,653 6,381 12,783 15,032 11,392 3,223 1,928 3,243 9,830 25,315
Deposits 4,661,235 72,736 3,074,715 75,914 159,784 300,715 112,303 234,097 25,255 22,121 33,596 112,726 437,273
Depository institutions 2,906,854 72,713 1,428,225 75,913 159,754 300,008 112,273 128,695 25,250 22,067 33,564 111,135 437,256
U.S. Treasury, General Account 1,570,533 0 1,570,533 0 0 0 0 0 0 0 0 0 0
Foreign official 16,774 2 16,748 1 3 8 2 2 1 0 0 0 6
Other (7) 167,073 21 59,209 0 26 699 28 105,400 4 54 32 1,591 11
Earnings remittances due to the U.S.
Treasury (8) 2,628 54 1,417 56 75 153 185 143 39 20 39 125 323
Treasury contributions to credit
facilities (9) 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 8,422 369 3,956 233 276 668 590 443 198 436 221 349 683
Total liabilities 6,971,522 178,346 3,923,460 137,244 260,624 443,399 406,191 373,953 88,465 57,694 91,873 290,045 720,229
Capital
Capital paid in 32,267 1,507 10,869 1,162 2,719 6,746 1,461 1,264 601 274 348 571 4,745
Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 7,010,614 180,177 3,936,622 138,651 263,926 451,585 407,990 375,482 89,179 58,021 92,292 290,697 725,990
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, September 9, 2020 (continued)
1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight
securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the
purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an
effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and
seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit
extensions.
2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.
3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
4. Revalued daily at current foreign currency exchange rates.
5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio
holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.
6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by
depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
Account, for services provided by the Reserve Banks as fiscal agents of the United States.
8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after
providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and
Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal
Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S
dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On
May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at
issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility.
The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began extending loans to the
Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury
as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help
support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the
FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and
medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the
FRBB.
The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally
accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated
to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and
table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this
table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).
7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Sep 9, 2020
Federal Reserve notes outstanding 2,123,285
Less: Notes held by F.R. Banks not subject to collateralization 142,014
Federal Reserve notes to be collateralized 1,981,271
Collateral held against Federal Reserve notes 1,981,271
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,965,034
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,345,569
Less: Face value of securities under reverse repurchase agreements 191,787
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,153,782
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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