FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, February 18, 2021

FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EDT

February 18, 2021

As of March 4, 2021 the ASCII format data tables for the H.4.1 Factors Affecting Reserve Balances will no longer be available on this webpage. Historical data tables will continue to be available and current data will continue to be available through the Data Download Program and HTML.

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	February 18, 2021

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Feb 17, 2021
	Week ended Feb 17, 2021	Change from week ended
	Week ended Feb 17, 2021	Feb 10, 2021	Feb 19, 2020
Reserve Bank credit	7,512,414	+ 124,384	+3,367,576	7,517,575
Securities held outright¹	6,980,839	+ 122,200	+3,143,635	6,996,966
U.S. Treasury securities	4,812,144	+ 25,642	+2,367,175	4,824,057
Bills²	326,044	0	+ 65,863	326,044
Notes and bonds, nominal²	4,122,355	+ 23,317	+2,094,049	4,134,243
Notes and bonds, inflation-indexed²	320,422	+ 2,058	+ 189,370	320,422
Inflation compensation³	43,322	+ 267	+ 17,892	43,348
Federal agency debt securities²	2,347	0	0	2,347
Mortgage-backed securities⁴	2,166,348	+ 96,558	+ 776,459	2,170,562
Unamortized premiums on securities held outright⁵	349,358	+ 3,314	+ 225,310	349,725
Unamortized discounts on securities held outright⁵	-6,532	- 110	+ 6,769	-6,728
Repurchase agreements⁶	714	- 200	- 166,700	500
Foreign official	714	- 200	+ 714	500
Others	0	0	- 167,414	0
Loans	53,031	+ 1,260	+ 53,029	54,019
Primary credit	1,767	+ 93	+ 1,765	1,755
Secondary credit	0	0	0	0
Seasonal credit	0	0	0	0
Primary Dealer Credit Facility	265	- 254	+ 265	265
Money Market Mutual Fund Liquidity Facility	1,729	0	+ 1,729	1,729
Paycheck Protection Program Liquidity Facility	49,270	+ 1,420	+ 49,270	50,271
Other credit extensions	0	0	0	0
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁷	8,557	- 1	+ 8,557	8,556
Net portfolio holdings of Corporate Credit Facilities LLC⁷	26,269	+ 11	+ 26,269	26,240
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁷	33,270	- 42	+ 33,270	33,265
Net portfolio holdings of Municipal Liquidity Facility LLC⁷	11,536	- 9	+ 11,536	11,538
Net portfolio holdings of TALF II LLC⁷	6,405	+ 1	+ 6,405	6,405
Float	-70	- 2	+ 44	-113
Central bank liquidity swaps⁸	8,165	- 298	+ 8,097	8,165
Other Federal Reserve assets⁹	40,872	- 1,740	+ 11,356	29,036
Foreign currency denominated assets¹⁰	21,977	+ 64	+ 1,734	21,847
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	50,539	+ 14	+ 412	50,539

Total factors supplying reserve funds	7,601,171	+ 124,461	+3,369,722	7,606,202

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 reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Feb 17, 2021
	Week ended Feb 17, 2021	Change from week ended
	Week ended Feb 17, 2021	Feb 10, 2021	Feb 19, 2020
Currency in circulation¹¹	2,102,074	+ 2,694	+ 303,977	2,102,242
Reverse repurchase agreements¹²	205,063	+ 990	- 20,701	201,719
Foreign official and international accounts	205,040	+ 1,043	- 18,574	201,669
Others	24	- 52	- 2,126	50
Treasury cash holdings	72	+ 11	- 179	79
Deposits with F.R. Banks, other than reserve balances	1,810,026	- 615	+1,300,966	1,793,134
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	1,567,041	- 41,865	+1,138,236	1,568,893
Foreign official	22,302	+ 343	+ 17,117	23,052
Other¹³	220,683	+ 40,907	+ 145,613	201,188
Treasury contributions to credit facilities¹⁴	51,778	0	+ 51,778	51,778
Other liabilities and capital¹⁵	53,250	+ 1,393	+ 9,090	49,379

Total factors, other than reserve balances, absorbing reserve funds	4,222,264	+ 4,474	+1,644,933	4,198,331

Reserve balances with Federal Reserve Banks	3,378,907	+ 119,988	+1,724,789	3,407,871

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 Feb 17, 2021
	Week ended Feb 17, 2021	Change from week ended
	Week ended Feb 17, 2021	Feb 10, 2021	Feb 19, 2020
Securities held in custody for foreign official and international accounts	3,549,734	+ 14,051	+ 87,227	3,546,739
Marketable U.S. Treasury securities¹	3,099,882	+ 11,807	+ 102,453	3,097,157
Federal agency debt and mortgage-backed securities²	360,349	+ 1,410	- 22,441	359,792
Other securities³	89,503	+ 834	+ 7,214	89,791
Securities lent to dealers	26,815	- 1,574	+ 1,046	29,233
Overnight facility⁴	26,815	- 1,574	+ 1,046	29,233
U.S. Treasury securities	26,815	- 1,574	+ 1,046	29,233
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 17, 2021

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans¹	1,729	2,019	0	50,260	11	...	54,019
U.S. Treasury securities²
Holdings	100,436	326,865	634,962	1,821,988	851,747	1,088,059	4,824,057
Weekly changes	+ 1,107	+ 19,806	- 2,796	- 4,104	+ 6,089	+ 5,055	+ 25,156
Federal agency debt securities³
Holdings	0	0	0	0	1,818	529	2,347
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities⁴
Holdings	0	0	6	2,109	72,007	2,096,440	2,170,562
Weekly changes	0	0	0	- 3	- 515	+ 101,290	+ 100,772
Commercial paper held by Commercial
Paper Funding Facility II LLC⁵	0	0	0	...	...	...	0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program)⁶	0	0	0	16,548	...	...	16,548
Municipal notes held by Municipal
Liquidity Facility LLC⁷	0	0	845	5,358	...	...	6,203
Loans held by TALF II LLC⁸	0	0	0	2,593	...	...	2,593
Repurchase agreements⁹	500	0	...	...	...	...	500
Central bank liquidity swaps¹⁰	4,816	3,349	0	0	0	0	8,165
Reverse repurchase agreements⁹	201,719	0	...	...	...	...	201,719
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
Account name	Feb 17, 2021
Mortgage-backed securities held outright¹	2,170,562
Residential mortgage-backed securities	2,160,666
Commercial mortgage-backed securities	9,896

Commitments to buy mortgage-backed securities²	161,471
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	281

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 17, 2021
		Net portfolio holdings of
		Credit Facilities LLCs
	Outstanding
	principal	Outstanding
	amount	amount of	Treasury
	of loan	facility	contributions
	extended to	asset	and
	the LLC¹	purchases²	other assets³	Total
Commercial Paper Funding Facility II LLC	0	0	8,556	8,556
Corporate Credit Facilities LLC	14,018	14,115	12,125	26,240
MS Facilities LLC (Main Street Lending Program)	16,524	16,453	16,812	33,265
Municipal Liquidity Facility LLC	6,203	6,203	5,335	11,538
TALF II LLC	3,382	2,593	3,812	6,405

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 from consolidation	Wednesday Feb 17, 2021	Change since
			Wednesday	Wednesday
			Feb 10, 2021	Feb 19, 2020
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,562	- 3	- 212
Securities, unamortized premiums and discounts, repurchase agreements, and loans		7,394,483	+ 130,548	+3,280,391
Securities held outright¹		6,996,966	+ 125,928	+3,157,147
U.S. Treasury securities		4,824,057	+ 25,156	+2,372,369
Bills²		326,044	0	+ 60,505
Notes and bonds, nominal²		4,134,243	+ 25,071	+2,104,565
Notes and bonds, inflation-indexed²		320,422	0	+ 189,370
Inflation compensation³		43,348	+ 85	+ 17,929
Federal agency debt securities²		2,347	0	0
Mortgage-backed securities⁴		2,170,562	+ 100,772	+ 784,778
Unamortized premiums on securities held outright⁵		349,725	+ 3,514	+ 225,859
Unamortized discounts on securities held outright⁵		-6,728	- 236	+ 6,771
Repurchase agreements⁶		500	- 300	- 163,400
Loans⁷		54,019	+ 1,641	+ 54,014
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁸		8,556	- 2	+ 8,556
Net portfolio holdings of Corporate Credit Facilities LLC⁸		26,240	- 34	+ 26,240
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁸		33,265	- 56	+ 33,265
Net portfolio holdings of Municipal Liquidity Facility LLC⁸		11,538	+ 2	+ 11,538
Net portfolio holdings of TALF II LLC⁸		6,405	0	+ 6,405
Items in process of collection	(0)	69	- 34	- 2
Bank premises		2,044	- 166	- 155
Central bank liquidity swaps⁹		8,165	- 298	+ 8,098
Foreign currency denominated assets¹⁰		21,847	- 196	+ 1,735
Other assets¹¹		26,992	- 14,584	+ 9,974

Total assets	(0)	7,557,402	+ 115,177	+3,385,832

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 from consolidation	Wednesday Feb 17, 2021	Change since
			Wednesday	Wednesday
			Feb 10, 2021	Feb 19, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,053,339	+ 1,564	+ 301,749
Reverse repurchase agreements¹²		201,719	- 10,312	- 25,245
Deposits	(0)	5,201,005	+ 127,254	+3,051,801
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,407,871	+ 109,232	+1,748,850
U.S. Treasury, General Account		1,568,893	- 7,851	+1,147,842
Foreign official		23,052	+ 931	+ 17,865
Other¹³	(0)	201,188	+ 24,940	+ 137,243
Deferred availability cash items	(0)	181	+ 10	- 6
Treasury contributions to credit facilities¹⁴		51,778	0	+ 51,778
Other liabilities and accrued dividends¹⁵		10,182	- 3,354	+ 5,103

Total liabilities	(0)	7,518,205	+ 115,162	+3,385,180

Capital accounts
Capital paid in		32,412	+ 16	+ 692
Surplus		6,785	0	- 40
Other capital accounts		0	0	0

Total capital		39,197	+ 16	+ 652

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 17, 2021

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	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	1,562	34	42	130	74	211	153	259	32	44	105	184	294
Securities, unamortized premiums and discounts, repurchase agreements, and loans¹	7,394,483	168,412	3,810,441	172,521	231,232	462,993	542,826	411,414	117,324	77,703	120,643	355,398	923,576
Net portfolio holdings of Commercial Paper Funding Facility II LLC²	8,556	0	8,556	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Corporate Credit Facilities LLC²	26,240	0	26,240	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program)²	33,265	33,265	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Municipal Liquidity Facility LLC²	11,538	0	11,538	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF II LLC²	6,405	0	6,405	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps³	8,165	388	2,744	294	698	1,723	405	317	134	64	86	97	1,216
Foreign currency denominated
assets⁴	21,847	1,037	7,344	786	1,867	4,610	1,083	848	358	171	230	259	3,252
Other assets⁵	29,105	2,232	12,267	745	981	2,123	2,215	1,646	617	403	785	1,581	3,509
Interdistrict settlement account	0	- 41,498	+ 359,597	+ 14,266	+ 62,199	- 1,325	- 133,077	- 2,867	- 17,146	- 14,860	- 20,516	- 47,946	- 156,828

Total assets	7,557,402	164,403	4,250,657	189,271	297,811	471,501	415,788	412,754	101,797	63,796	101,783	310,776	777,066

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 17, 2021 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes, net	2,053,339	61,644	672,868	55,600	95,219	155,405	283,063	132,632	58,976	33,453	54,367	176,742	273,369
Reverse repurchase agreements⁶	201,719	4,530	104,442	4,602	6,311	12,643	14,866	11,267	3,187	1,906	3,208	9,722	25,036
Deposits	5,201,005	77,764	3,422,580	127,328	192,512	294,428	115,200	266,617	38,623	27,754	43,490	123,034	471,676
Depository institutions	3,407,871	77,747	1,779,731	127,326	192,469	293,812	115,111	122,331	38,617	27,673	42,858	118,547	471,649
U.S. Treasury, General Account	1,568,893	0	1,568,893	0	0	0	0	0	0	0	0	0	0
Foreign official	23,052	2	23,026	1	3	8	2	2	1	0	0	0	6
Other⁷	201,188	15	50,930	0	39	607	86	144,284	5	81	632	4,487	21
Earnings remittances due to the U.S. Treasury⁸	1,784	30	991	35	43	77	136	100	26	14	19	94	218
Treasury contributions to credit facilities⁹	51,778	18,072	33,706	0	0	0	0	0	0	0	0	0	0
Other liabilities and accrued dividends	8,579	585	2,907	298	340	802	748	603	240	323	272	465	996

Total liabilities	7,518,205	162,625	4,237,493	187,864	294,425	463,355	414,013	411,219	101,052	63,451	101,356	310,058	771,295

Capital
Capital paid in	32,412	1,470	10,883	1,163	2,800	6,734	1,468	1,269	616	287	354	596	4,771
Surplus	6,785	308	2,280	244	587	1,412	307	266	129	58	73	122	999
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	7,557,402	164,403	4,250,657	189,271	297,811	471,501	415,788	412,754	101,797	63,796	101,783	310,776	777,066

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 17, 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 each Federal Reserve Bank's allotted surplus cap.
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).

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
Federal Reserve notes and collateral	Feb 17, 2021
Federal Reserve notes outstanding	2,215,334
Less: Notes held by F.R. Banks not subject to collateralization	161,995
Federal Reserve notes to be collateralized	2,053,339
Collateral held against Federal Reserve notes	2,053,339
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	2,037,102
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	6,997,466
Less: Face value of securities under reverse repurchase agreements	194,269
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,803,198

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