FRB: H.4.1 Release--Factors Affecting Reserve Balances-- July 16, 2020

FEDERAL RESERVE statistical release

For Release at
4:30 P.M. Eastern time
July 16, 2020

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," has been modified to include information related to MS Facilities
LLC (Main Street Lending Program). The program was introduced on the H.4.1 cover note on June 4, 2020
https://www.federalreserve.gov/releases/h41/20200604/. On July 6, 2020, the Main Street Lending Program announced it
was operationally ready to purchase participations in loans originated by eligible lenders to facilitate
lending support to small and medium-sized businesses, and on July 15, 2020, the Main Street Lending Program began
purchasing participations in loans in accordance with the program. The Federal Reserve Bank of Boston extended
credit to the MS Facilities LLC under the authority of section 13(3) of the Federal Reserve Act, with approval
of the Board and Treasury Secretary.

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks July 16, 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 Jul 15, 2020
Federal Reserve Banks Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Reserve Bank credit 6,881,203 - 34,082 +3,107,744 6,919,469
Securities held outright (1) 6,167,191 + 32,717 +2,539,705 6,203,965
U.S. Treasury securities 4,240,828 + 20,101 +2,145,994 4,253,229
Bills (2) 326,044 0 + 326,042 326,044
Notes and bonds, nominal (2) 3,608,352 + 19,707 +1,653,467 3,625,089
Notes and bonds, inflation-indexed (2) 270,593 + 387 + 154,303 266,914
Inflation compensation (3) 35,839 + 7 + 12,182 35,182
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,924,016 + 12,615 + 393,711 1,948,388
Unamortized premiums on securities held outright (5) 316,487 + 1,835 + 186,086 317,957
Unamortized discounts on securities held outright (5) -5,272 + 46 + 7,554 -5,280
Repurchase agreements (6) 0 - 41,286 0 2
Foreign official 0 - 143 0 2
Others 0 - 41,143 0 0
Loans 93,358 - 1,936 + 93,243 93,404
Primary credit 4,791 - 528 + 4,783 5,058
Secondary credit 0 0 0 0
Seasonal credit 22 + 3 - 85 24
Primary Dealer Credit Facility 1,828 - 448 + 1,828 1,699
Money Market Mutual Fund Liquidity Facility 18,704 - 920 + 18,704 18,635
Paycheck Protection Program Liquidity Facility 68,013 - 44 + 68,013 67,989
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 12,334 - 466 + 12,334 10,659
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 43,053 + 740 + 43,053 43,423
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 37,505 + 3 + 37,505 37,515
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,082 + 1 + 16,082 16,084
Net portfolio holdings of TALF II LLC (7) 8,851 + 98 + 8,851 9,439
Float -246 - 38 - 49 -228
Central bank liquidity swaps (8) 153,494 - 28,583 + 153,456 154,850
Other Federal Reserve assets (9) 38,367 + 2,789 + 9,926 37,680
Foreign currency denominated assets (10) 21,024 + 121 + 158 21,094
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,429 + 14 + 486 50,429

Total factors supplying reserve funds 6,968,898 - 33,946 +3,108,389 7,007,233

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 15, 2020
Federal Reserve Banks Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Currency in circulation (11) 1,978,666 + 3,825 + 231,322 1,981,644
Reverse repurchase agreements (12) 221,442 - 6,673 - 58,437 224,229
Foreign official and international accounts 221,441 - 6,673 - 54,020 224,228
Others 0 - 1 - 4,418 1
Treasury cash holdings 50 - 11 - 111 45
Deposits with F.R. Banks, other than reserve balances 1,826,691 + 2,283 +1,554,360 1,905,320
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,655,320 + 2,222 +1,458,315 1,740,455
Foreign official 16,232 - 887 + 10,977 16,232
Other (13) 155,138 + 947 + 85,067 148,633
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 50,446 + 2,994 + 5,316 49,347

Total factors, other than reserve balances,
absorbing reserve funds 4,191,295 + 2,418 +1,846,450 4,274,585

Reserve balances with Federal Reserve Banks 2,777,603 - 36,364 +1,261,939 2,732,649

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 Jul 15, 2020
Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Securities held in custody for foreign official and
international accounts 3,405,122 + 2,444 - 60,432 3,398,871
Marketable U.S. Treasury securities (1) 2,951,842 + 2,520 - 88,769 2,946,444
Federal agency debt and mortgage-backed securities (2) 368,615 - 24 + 22,401 367,891
Other securities (3) 84,664 - 53 + 5,934 84,536
Securities lent to dealers 27,982 - 4,153 + 2,687 26,885
Overnight facility (4) 27,982 - 4,153 + 2,687 26,885
U.S. Treasury securities 27,982 - 4,153 + 2,687 26,885
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 15, 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) 7,929 11,304 6,183 67,989 0 ... 93,404
U.S. Treasury securities (2)
Holdings 58,895 279,380 633,384 1,604,839 738,129 938,604 4,253,229
Weekly changes - 7,219 + 9,337 + 15,299 - 2,400 + 2,703 + 4,156 + 21,874
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 2,293 78,962 1,867,128 1,948,388
Weekly changes 0 0 0 - 9 - 626 + 37,623 + 36,987
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 1,768 336 0 ... ... ... 2,104
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 12 ... ... 12
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 0 ... ... 1,200
Loans held by TALF II LLC (8) 0 0 0 937 ... ... 937
Repurchase agreements (9) 2 0 ... ... ... ... 2
Central bank liquidity swaps (10) 61,566 93,284 0 0 0 0 154,850
Reverse repurchase agreements (9) 224,229 0 ... ... ... ... 224,229
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
Jul 15, 2020

Mortgage-backed securities held outright (1) 1,948,388
Residential mortgage-backed securities 1,939,214
Commercial mortgage-backed securities 9,174

Commitments to buy mortgage-backed securities (2) 91,157
Commitments to sell mortgage-backed securities (2) 79

Cash and cash equivalents (3) 24

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 15, 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 2,099 2,104 8,555 10,659
Corporate Credit Facilities LLC 11,163 11,485 31,938 43,423
MS Facilities LLC (Main Street Lending Program) 12 12 37,504 37,515
Municipal Liquidity Facility LLC 1,200 1,200 14,884 16,084
TALF II LLC 937 937 8,502 9,439

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 Jul 15, 2020 Wednesday Wednesday
consolidation Jul 8, 2020 Jul 17, 2019

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,523 + 26 - 151
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,610,048 + 61,639 +2,869,088
Securities held outright (1) 6,203,965 + 58,862 +2,580,541
U.S. Treasury securities 4,253,229 + 21,874 +2,159,245
Bills (2) 326,044 0 + 326,042
Notes and bonds, nominal (2) 3,625,089 + 25,816 +1,670,718
Notes and bonds, inflation-indexed (2) 266,914 - 3,292 + 150,925
Inflation compensation (3) 35,182 - 651 + 11,560
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 1,948,388 + 36,987 + 421,295
Unamortized premiums on securities held outright
(5) 317,957 + 2,706 + 187,734
Unamortized discounts on securities held outright
(5) -5,280 + 19 + 7,527
Repurchase agreements (6) 2 + 2 + 2
Loans (7) 93,404 + 49 + 93,284
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 10,659 - 2,143 + 10,659
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 43,423 + 779 + 43,423
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 37,515 + 12 + 37,515
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,084 + 2 + 16,084
Net portfolio holdings of TALF II LLC (8) 9,439 + 686 + 9,439
Items in process of collection (0) 53 + 2 - 31
Bank premises 2,198 + 2 + 11
Central bank liquidity swaps (9) 154,850 - 24,245 + 154,812
Foreign currency denominated assets (10) 21,094 + 121 + 245
Other assets (11) 35,481 + 1,008 + 9,399

Total assets (0) 6,958,604 + 37,888 +3,150,494

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 15, 2020 Wednesday Wednesday
consolidation Jul 8, 2020 Jul 17, 2019

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,932,779 + 4,304 + 233,781
Reverse repurchase agreements (12) 224,229 - 631 - 58,367
Deposits (0) 4,637,969 + 33,103 +2,856,591
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,732,649 - 80,647 +1,217,580
U.S. Treasury, General Account 1,740,455 + 116,051 +1,534,252
Foreign official 16,232 0 + 10,977
Other (13) (0) 148,633 - 2,301 + 93,781
Deferred availability cash items (0) 280 + 14 + 49
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 10,586 + 1,099 + 4,907

Total liabilities (0) 6,919,843 + 37,888 +3,150,961

Capital accounts
Capital paid in 31,936 0 - 466
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 38,761 0 - 466

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, July 15, 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 1,523 33 41 122 90 212 156 248 27 43 94 170 288
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,610,048 167,233 3,391,486 155,200 205,771 414,273 484,559 368,189 104,975 66,202 110,065 317,160 824,934
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 10,659 0 10,659 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 43,423 0 43,423 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 37,515 37,515 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,084 0 16,084 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 9,439 0 9,439 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 154,850 7,350 52,039 5,572 13,233 32,684 7,680 6,014 2,538 1,213 1,633 1,838 23,056
Foreign currency denominated
assets (4) 21,094 1,001 7,091 759 1,802 4,452 1,046 819 346 165 222 250 3,140
Other assets (5) 37,733 2,476 16,812 914 1,242 2,641 2,847 2,136 746 469 888 1,985 4,577
Interdistrict settlement account 0 - 59,057 + 475,050 - 17,135 + 6,600 - 47,428 - 95,283 - 27,042 - 22,532 - 13,041 - 21,677 - 28,744 - 149,712

Total assets 6,958,604 157,085 4,027,607 145,962 229,500 407,999 403,187 351,500 86,578 55,321 91,676 293,861 708,328

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 15, 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 1,932,779 58,378 650,070 56,814 88,396 124,332 266,357 126,554 58,498 30,705 52,920 164,146 255,608
Reverse repurchase agreements (6) 224,229 5,035 116,096 5,116 7,015 14,053 16,525 12,524 3,543 2,119 3,566 10,807 27,830
Deposits 4,637,969 52,478 3,167,718 82,355 130,458 260,660 117,880 210,373 23,690 21,735 34,531 117,832 418,260
Depository institutions 2,732,649 52,455 1,352,910 82,353 130,404 259,469 117,806 123,203 23,686 21,678 34,503 115,929 418,253
U.S. Treasury, General Account 1,740,455 0 1,740,455 0 0 0 0 0 0 0 0 0 0
Foreign official 16,232 2 16,205 1 3 8 2 2 1 0 0 0 6
Other (7) 148,633 21 58,147 0 51 1,182 72 87,168 3 56 28 1,903 0
Earnings remittances due to the U.S.
Treasury (8) 1,922 25 1,034 42 69 123 139 101 23 16 20 87 244
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 8,944 339 4,681 229 263 645 534 433 189 420 223 338 651

Total liabilities 6,919,843 155,255 4,014,599 144,555 226,201 399,813 401,434 349,985 85,943 54,995 91,259 293,209 702,592

Capital
Capital paid in 31,936 1,506 10,714 1,161 2,715 6,745 1,414 1,250 523 272 344 571 4,719
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 6,958,604 157,085 4,027,607 145,962 229,500 407,999 403,187 351,500 86,578 55,321 91,676 293,861 708,328

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 15, 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 Federal Reserve Bank of Boston (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. 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 Federal Reserve Bank of Boston (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 15, 2020

Federal Reserve notes outstanding 2,086,113
Less: Notes held by F.R. Banks not subject to collateralization 153,334
Federal Reserve notes to be collateralized 1,932,779
Collateral held against Federal Reserve notes 1,932,779
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,916,542
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,203,967
Less: Face value of securities under reverse repurchase agreements 211,414
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,992,553

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

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.

Statistical releases