FRB: H.4.1 Release--Factors Affecting Reserve Balances-- February 04, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks February 4, 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 Feb 3, 2021
Federal Reserve Banks Feb 3, 2021 Jan 27, 2021 Feb 5, 2020

Reserve Bank credit 7,366,834 - 18,020 +3,246,895 7,370,758
Securities held outright (1) 6,840,913 - 15,636 +3,035,440 6,844,210
U.S. Treasury securities 4,768,784 + 13,975 +2,352,947 4,772,074
Bills (2) 326,044 0 + 89,224 326,044
Notes and bonds, nominal (2) 4,083,550 + 13,299 +2,059,212 4,085,037
Notes and bonds, inflation-indexed (2) 316,306 + 687 + 187,061 318,021
Inflation compensation (3) 42,884 - 11 + 17,450 42,972
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,069,783 - 29,609 + 682,494 2,069,789
Unamortized premiums on securities held outright (5) 345,181 - 501 + 221,639 345,641
Unamortized discounts on securities held outright (5) -6,245 - 96 + 7,063 -6,335
Repurchase agreements (6) 1,000 0 - 174,319 1,000
Foreign official 1,000 0 + 1,000 1,000
Others 0 0 - 175,319 0
Loans 50,842 - 578 + 50,836 50,865
Primary credit 1,843 - 186 + 1,838 1,675
Secondary credit 0 0 0 0
Seasonal credit 0 0 0 0
Primary Dealer Credit Facility 531 + 46 + 531 520
Money Market Mutual Fund Liquidity Facility 1,861 - 44 + 1,861 1,802
Paycheck Protection Program Liquidity Facility 46,607 - 394 + 46,607 46,867
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,558 + 1 + 8,558 8,558
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 26,289 - 21 + 26,289 26,290
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 33,304 + 12 + 33,304 33,311
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 11,612 + 4 + 11,612 11,613
Net portfolio holdings of TALF II LLC (7) 6,443 - 235 + 6,443 6,404
Float -417 - 263 - 73 -65
Central bank liquidity swaps (8) 8,679 - 1,102 + 8,631 8,679
Other Federal Reserve assets (9) 40,676 + 394 + 11,473 40,588
Foreign currency denominated assets (10) 22,013 - 131 + 1,393 21,896
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,564 + 14 + 457 50,564

Total factors supplying reserve funds 7,455,652 - 18,137 +3,248,744 7,459,459

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 Feb 3, 2021
Federal Reserve Banks Feb 3, 2021 Jan 27, 2021 Feb 5, 2020

Currency in circulation (11) 2,097,478 + 334 + 304,892 2,099,246
Reverse repurchase agreements (12) 223,589 + 16,206 - 20,955 208,933
Foreign official and international accounts 220,138 + 13,638 - 20,117 208,755
Others 3,451 + 2,568 - 838 178
Treasury cash holdings 49 + 6 - 170 59
Deposits with F.R. Banks, other than reserve balances 1,840,162 - 64,396 +1,359,387 1,846,472
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,625,325 - 8,215 +1,212,003 1,629,729
Foreign official 21,849 - 108 + 16,667 21,854
Other (13) 192,988 - 56,074 + 130,718 194,889
Treasury contributions to credit facilities (14) 51,778 0 + 51,778 51,778
Other liabilities and capital (15) 49,477 - 397 + 5,709 50,248

Total factors, other than reserve balances,
absorbing reserve funds 4,262,534 - 48,247 +1,700,642 4,256,737

Reserve balances with Federal Reserve Banks 3,193,118 + 30,110 +1,548,102 3,202,722

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements.
7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury
contributions to the facility. Refer to note on consolidation below.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net
portfolio holdings of Maiden Lane LLC.
10. Revalued daily at current foreign currency exchange rates.
11. Estimated.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, designated financial market utilities, and deposits held by depository
institutions in joint accounts in connection with their participation in certain private-sector payment
arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account,
for services provided by the Reserve Banks as fiscal agents of the United States.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, 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 Feb 3, 2021
Feb 3, 2021 Jan 27, 2021 Feb 5, 2020

Securities held in custody for foreign official and
international accounts 3,531,293 - 1,639 + 104,948 3,541,493
Marketable U.S. Treasury securities (1) 3,083,740 + 1,447 + 104,019 3,094,463
Federal agency debt and mortgage-backed securities (2) 359,150 - 2,827 - 5,724 359,095
Other securities (3) 88,403 - 258 + 6,653 87,936
Securities lent to dealers 34,828 + 4,616 + 3,399 35,182
Overnight facility (4) 34,828 + 4,616 + 3,399 35,182
U.S. Treasury securities 34,828 + 4,616 + 3,399 35,182
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, February 3, 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) 1,053 2,944 0 46,863 5 ... 50,865
U.S. Treasury securities (2)
Holdings 97,981 307,213 636,995 1,812,046 836,802 1,081,036 4,772,074
Weekly changes + 9,738 - 166 - 11,177 - 3,773 + 2,580 + 8,764 + 5,967
Federal agency debt securities (3)
Holdings 0 0 0 0 1,818 529 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 6 2,112 72,522 1,995,149 2,069,789
Weekly changes 0 0 + 2 + 112 + 2,534 - 2,627 + 20
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 16,546 ... ... 16,546
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 845 5,358 ... ... 6,203
Loans held by TALF II LLC (8) 0 0 0 2,717 ... ... 2,717
Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000
Central bank liquidity swaps (10) 2,182 6,497 0 0 0 0 8,679
Reverse repurchase agreements (9) 208,933 0 ... ... ... ... 208,933
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
Feb 3, 2021

Mortgage-backed securities held outright (1) 2,069,789
Residential mortgage-backed securities 2,059,899
Commercial mortgage-backed securities 9,889

Commitments to buy mortgage-backed securities (2) 216,197
Commitments to sell mortgage-backed securities (2) 0

Cash and cash equivalents (3) 12

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 Feb 3, 2021
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total

Commercial Paper Funding Facility II LLC 0 0 8,558 8,558
Corporate Credit Facilities LLC 14,058 14,163 12,127 26,290
MS Facilities LLC (Main Street Lending Program) 16,585 16,450 16,860 33,311
Municipal Liquidity Facility LLC 6,283 6,203 5,410 11,613
TALF II LLC 3,382 2,717 3,687 6,404

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, net of an
allowance for loan losses updated as of
September 30, 2020, 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 approximately 15% of Treasury contributions to the credit facilities from the
following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC,
Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying
table 6.

5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Feb 3, 2021 Wednesday Wednesday
consolidation Jan 27, 2021 Feb 5, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,569 - 9 - 203
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,235,380 + 6,229 +3,137,403
Securities held outright (1) 6,844,210 + 5,987 +3,026,694
U.S. Treasury securities 4,772,074 + 5,967 +2,344,194
Bills (2) 326,044 0 + 78,508
Notes and bonds, nominal (2) 4,085,037 + 3,469 +2,059,562
Notes and bonds, inflation-indexed (2) 318,021 + 2,402 + 188,570
Inflation compensation (3) 42,972 + 96 + 17,554
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,069,789 + 20 + 682,500
Unamortized premiums on securities held outright
(5) 345,641 + 642 + 222,099
Unamortized discounts on securities held outright
(5) -6,335 - 166 + 6,998
Repurchase agreements (6) 1,000 0 - 169,250
Loans (7) 50,865 - 233 + 50,864
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,558 0 + 8,558
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 26,290 - 10 + 26,290
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 33,311 + 10 + 33,311
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 11,613 + 2 + 11,613
Net portfolio holdings of TALF II LLC (8) 6,404 - 274 + 6,404
Items in process of collection (0) 73 - 1 - 3
Bank premises 2,205 - 8 + 12
Central bank liquidity swaps (9) 8,679 - 888 + 8,631
Foreign currency denominated assets (10) 21,896 - 164 + 1,443
Other assets (11) 38,383 + 784 + 10,431

Total assets (0) 7,410,598 + 5,672 +3,243,891

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 Feb 3, 2021 Wednesday Wednesday
consolidation Jan 27, 2021 Feb 5, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,050,306 + 1,789 + 303,812
Reverse repurchase agreements (12) 208,933 - 1,645 - 30,230
Deposits (0) 5,049,194 + 4,007 +2,911,931
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,202,722 - 26,029 +1,549,849
U.S. Treasury, General Account 1,629,729 + 16,352 +1,213,144
Foreign official 21,854 + 18 + 16,671
Other (13) (0) 194,889 + 13,666 + 132,268
Deferred availability cash items (0) 138 - 481 - 42
Treasury contributions to credit facilities (14) 51,778 0 + 51,778
Other liabilities and accrued dividends (15) 11,045 + 2,003 + 5,940

Total liabilities (0) 7,371,395 + 5,674 +3,243,190

Capital accounts
Capital paid in 32,378 - 2 + 701
Surplus 6,825 0 0
Other capital accounts 0 0 0

Total capital 39,203 - 2 + 701

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face
value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions.
8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury
contributions to the facility. Refer to note on consolidation below.
9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used
when the foreign currency is returned to the foreign central bank. This exchange rate equals the
market exchange rate used when the foreign currency was acquired from the foreign central bank.
10. Revalued daily at current foreign currency exchange rates.
11. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,
government-sponsored enterprises, designated financial market utilities, and deposits held by depository
institutions in joint accounts in connection with their participation in certain private-sector payment
arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account,
for services provided by the Reserve Banks as fiscal agents of the United States.
14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion, 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, February 3, 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 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045
Coin 1,569 33 43 132 76 209 152 262 32 42 106 187 295
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,235,380 164,191 3,729,042 169,053 226,210 453,038 531,303 402,705 114,735 75,666 118,280 347,941 903,214
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,558 0 8,558 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 26,290 0 26,290 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 33,311 33,311 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 11,613 0 11,613 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 6,404 0 6,404 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 8,679 412 2,917 312 742 1,832 430 337 142 68 92 103 1,292
Foreign currency denominated
assets (4) 21,896 1,039 7,361 788 1,871 4,621 1,086 850 359 171 231 260 3,260
Other assets (5) 40,661 2,494 18,278 1,010 1,344 2,846 3,074 2,297 801 533 963 2,073 4,947
Interdistrict settlement account 0 - 38,482 + 292,415 + 12,695 + 64,859 + 22,562 - 124,723 + 2,090 - 15,413 - 10,327 - 16,775 - 44,585 - 144,317

Total assets 7,410,598 163,531 4,108,405 184,520 295,863 486,273 413,506 409,679 101,135 66,424 103,347 307,181 770,735

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, February 3, 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 2,050,306 61,754 673,984 55,834 94,112 155,067 281,533 132,825 59,036 33,443 54,871 175,980 271,868
Reverse repurchase agreements (6) 208,933 4,692 108,177 4,767 6,537 13,095 15,398 11,670 3,301 1,975 3,322 10,069 25,931
Deposits 5,049,194 76,648 3,274,267 122,192 191,457 309,130 113,959 262,980 37,814 30,387 44,443 119,893 466,025
Depository institutions 3,202,722 76,629 1,563,079 122,190 191,420 308,045 113,876 130,931 37,811 30,254 43,562 118,926 465,999
U.S. Treasury, General Account 1,629,729 0 1,629,729 0 0 0 0 0 0 0 0 0 0
Foreign official 21,854 2 21,828 1 3 8 2 2 1 0 0 0 6
Other (7) 194,889 17 59,632 0 33 1,077 81 132,048 2 132 880 967 20
Earnings remittances due to the U.S.
Treasury (8) 666 32 -156 38 49 61 155 105 8 9 34 100 230
Treasury contributions to credit
facilities (9) 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 10,517 554 5,253 281 318 765 686 563 231 277 251 433 906

Total liabilities 7,371,395 161,752 4,095,232 183,112 292,473 478,118 411,730 408,142 100,390 66,090 102,922 306,475 764,960

Capital
Capital paid in 32,378 1,470 10,880 1,163 2,800 6,734 1,467 1,269 616 275 351 584 4,770
Surplus 6,825 310 2,294 245 590 1,420 309 267 130 58 74 123 1,005
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,410,598 163,531 4,108,405 184,520 295,863 486,273 413,506 409,679 101,135 66,424 103,347 307,181 770,735

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, February 3, 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, 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 $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, 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
Feb 3, 2021

Federal Reserve notes outstanding 2,208,499
Less: Notes held by F.R. Banks not subject to collateralization 158,194
Federal Reserve notes to be collateralized 2,050,306
Collateral held against Federal Reserve notes 2,050,306
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,034,069
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,845,210
Less: Face value of securities under reverse repurchase agreements 199,574
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,645,636

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