The Commercial Paper Funding Facility (CPFF) provides a liquidity backstop to U.S. issuers of commercial paper through a limited liability company (LLC), that purchases three-month unsecured and asset-backed commercial paper directly from eligible issuers. The Federal Reserve provides financing to the LLC through the CPFF. This table presents the book value of the commercial paper held by CPFF LLC, the value of the other investments held by CPFF LLC, the net portfolio holdings of Commercial Paper Funding Facility LLC, the face value, or redemption value, of the commercial paper holdings of CPFF LLC, the outstanding principal amount of the loan extended by the Federal Reserve Bank of New York, and the accrued interest payable to the Federal Reserve Bank of New York. Because the FRBNY is the sole beneficiary of the CPFF LLC, the assets and liabilities of the LLC are consolidated onto the balance sheet of the FRBNY. All lending by the FRBNY is secured by all of the assets of the LLC and, in the case of commercial paper that is not asset-backed commercial paper, by the retention of up-front fees paid by the issuers or by other forms of security acceptable to the Federal Reserve in consultation with market participants. Return