FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, April 15, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	April 15, 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 Apr 14, 2021
	Week ended Apr 14, 2021	Change from week ended
	Week ended Apr 14, 2021	Apr 7, 2021	Apr 15, 2020
Reserve Bank credit	7,692,317	+ 35,351	+1,496,297	7,753,650
Securities held outright¹	7,165,867	+ 30,612	+1,970,328	7,224,865
U.S. Treasury securities	4,969,645	+ 21,421	+1,252,231	4,973,499
Bills²	326,044	0	0	326,044
Notes and bonds, nominal²	4,259,702	+ 18,670	+1,119,115	4,262,999
Notes and bonds, inflation-indexed²	336,815	+ 2,058	+ 119,571	337,158
Inflation compensation³	47,084	+ 693	+ 13,545	47,298
Federal agency debt securities²	2,347	0	0	2,347
Mortgage-backed securities⁴	2,193,875	+ 9,191	+ 718,097	2,249,019
Unamortized premiums on securities held outright⁵	351,262	+ 362	+ 100,934	351,737
Unamortized discounts on securities held outright⁵	-9,895	- 386	- 2,772	-10,419
Repurchase agreements⁶	0	0	- 201,596	0
Foreign official	0	0	- 1	0
Others	0	0	- 201,596	0
Loans	64,004	+ 2,037	- 64,600	65,102
Primary credit	708	- 53	- 40,326	743
Secondary credit	0	0	0	0
Seasonal credit	0	0	0	0
Primary Dealer Credit Facility	25	0	- 35,565	25
Money Market Mutual Fund Liquidity Facility	0	- 171	- 51,944	0
Paycheck Protection Program Liquidity Facility	63,272	+ 2,263	+ 63,272	64,334
Other credit extensions	0	0	0	0
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁷	8,556	0	+ 8,415	8,556
Net portfolio holdings of Corporate Credit Facilities LLC⁷	25,940	- 80	+ 25,940	25,959
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁷	30,963	+ 9	+ 30,963	30,970
Net portfolio holdings of Municipal Liquidity Facility LLC⁷	11,414	- 121	+ 11,414	11,416
Net portfolio holdings of TALF II LLC⁷	5,283	+ 1	+ 5,283	5,283
Float	-234	- 127	+ 32	-218
Central bank liquidity swaps⁸	795	- 73	- 392,268	795
Other Federal Reserve assets⁹	38,362	+ 3,118	+ 4,225	39,605
Foreign currency denominated assets¹⁰	21,417	+ 126	+ 902	21,515
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	50,616	+ 14	+ 426	50,616

Total factors supplying reserve funds	7,780,591	+ 35,491	+1,497,624	7,842,022

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 Apr 14, 2021
	Week ended Apr 14, 2021	Change from week ended
	Week ended Apr 14, 2021	Apr 7, 2021	Apr 15, 2020
Currency in circulation¹¹	2,153,198	+ 6,227	+ 268,311	2,156,376
Reverse repurchase agreements¹²	265,990	+ 26,470	- 18,474	281,853
Foreign official and international accounts	231,696	+ 5,853	- 46,875	230,997
Others	34,294	+ 20,617	+ 28,401	50,856
Treasury cash holdings	78	- 10	- 229	68
Deposits with F.R. Banks, other than reserve balances	1,280,249	- 45,608	+ 145,844	1,363,048
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	925,094	- 85,009	+ 35,279	921,685
Foreign official	32,017	- 291	+ 15,665	31,075
Other¹³	323,138	+ 39,692	+ 94,901	410,288
Treasury contributions to credit facilities¹⁴	51,136	- 642	+ 51,136	50,278
Other liabilities and capital¹⁵	52,127	+ 4,190	- 7,735	53,946

Total factors, other than reserve balances, absorbing reserve funds	3,802,778	- 9,373	+ 438,853	3,905,568

Reserve balances with Federal Reserve Banks	3,977,813	+ 44,864	+1,058,772	3,936,454

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.
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 Apr 14, 2021
	Week ended Apr 14, 2021	Change from week ended
	Week ended Apr 14, 2021	Apr 7, 2021	Apr 15, 2020
Securities held in custody for foreign official and international accounts	3,553,999	+ 5,064	+ 235,831	3,562,016
Marketable U.S. Treasury securities¹	3,118,674	+ 3,774	+ 271,617	3,117,927
Federal agency debt and mortgage-backed securities²	347,857	+ 1,443	- 40,353	356,764
Other securities³	87,467	- 154	+ 4,567	87,325
Securities lent to dealers	42,850	+ 2,402	+ 8,254	48,392
Overnight facility⁴	42,850	+ 2,402	+ 8,254	48,392
U.S. Treasury securities	42,850	+ 2,402	+ 8,254	48,392
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, April 14, 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	122	646	3,407	60,927	0	...	65,102
U.S. Treasury securities²
Holdings	71,695	353,207	625,391	1,892,626	894,208	1,136,372	4,973,499
Weekly changes	- 3,407	+ 2,826	+ 619	+ 3,942	+ 5,022	+ 5,464	+ 14,466
Federal agency debt securities³
Holdings	0	0	0	0	2,134	213	2,347
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities⁴
Holdings	0	0	12	1,954	69,053	2,178,001	2,249,019
Weekly changes	0	0	0	0	0	+ 64,336	+ 64,335
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	16,436	...	...	16,436
Municipal notes held by Municipal
Liquidity Facility LLC⁷	0	400	0	5,358	...	...	5,758
Loans held by TALF II LLC⁸	0	0	0	1,872	...	...	1,872
Repurchase agreements⁹	0	0	...	...	...	...	0
Central bank liquidity swaps¹⁰	271	524	0	0	0	0	795
Reverse repurchase agreements⁹	281,853	0	...	...	...	...	281,853
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, 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	Apr 14, 2021
Mortgage-backed securities held outright¹	2,249,019
Residential mortgage-backed securities	2,239,076
Commercial mortgage-backed securities	9,943

Commitments to buy mortgage-backed securities²	161,970
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	0

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 Apr 14, 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	13,825	13,768	12,191	25,959
MS Facilities LLC (Main Street Lending Program)	16,488	14,023	16,948	30,970
Municipal Liquidity Facility LLC	6,058	5,758	5,658	11,416
TALF II LLC	2,256	1,872	3,411	5,283

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
	December 31, 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 Apr 14, 2021	Change since
			Wednesday	Wednesday
			Apr 7, 2021	Apr 15, 2020
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,428	- 30	- 228
Securities, unamortized premiums and discounts, repurchase agreements, and loans		7,631,285	+ 80,857	+1,715,022
Securities held outright¹		7,224,865	+ 78,801	+1,865,489
U.S. Treasury securities		4,973,499	+ 14,466	+1,184,641
Bills²		326,044	0	0
Notes and bonds, nominal²		4,262,999	+ 11,337	+1,056,855
Notes and bonds, inflation-indexed²		337,158	+ 2,401	+ 114,466
Inflation compensation³		47,298	+ 728	+ 13,320
Federal agency debt securities²		2,347	0	0
Mortgage-backed securities⁴		2,249,019	+ 64,335	+ 680,848
Unamortized premiums on securities held outright⁵		351,737	+ 627	+ 89,403
Unamortized discounts on securities held outright⁵		-10,419	- 859	- 3,523
Repurchase agreements⁶		0	0	- 181,100
Loans⁷		65,102	+ 2,288	- 55,247
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁸		8,556	0	+ 7,582
Net portfolio holdings of Corporate Credit Facilities LLC⁸		25,959	+ 22	+ 25,959
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁸		30,970	+ 8	+ 30,970
Net portfolio holdings of Municipal Liquidity Facility LLC⁸		11,416	+ 3	+ 11,416
Net portfolio holdings of TALF II LLC⁸		5,283	0	+ 5,283
Items in process of collection	(0)	55	+ 11	+ 20
Bank premises		1,916	+ 3	- 287
Central bank liquidity swaps⁹		795	- 73	- 377,496
Foreign currency denominated assets¹⁰		21,515	+ 148	+ 990
Other assets¹¹		37,688	+ 3,271	+ 5,985

Total assets	(0)	7,793,104	+ 84,222	+1,425,217

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 Apr 14, 2021	Change since
			Wednesday	Wednesday
			Apr 7, 2021	Apr 15, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,107,251	+ 6,057	+ 267,952
Reverse repurchase agreements¹²		281,853	+ 9,780	+ 2,269
Deposits	(0)	5,299,502	+ 65,487	+1,125,650
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,936,454	- 7,601	+ 866,580
U.S. Treasury, General Account		921,685	- 33,283	+ 65,530
Foreign official		31,075	- 1,174	+ 14,728
Other¹³	(0)	410,288	+ 107,544	+ 178,813
Deferred availability cash items	(0)	274	+ 123	- 122
Treasury contributions to credit facilities¹⁴		50,278	- 1,500	+ 50,278
Other liabilities and accrued dividends¹⁵		14,678	+ 4,274	- 21,246

Total liabilities	(0)	7,753,836	+ 84,220	+1,424,781

Capital accounts
Capital paid in		32,482	0	+ 475
Surplus		6,785	0	- 40
Other capital accounts		0	0	0

Total capital		39,267	0	+ 435

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.
15.	Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, April 14, 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	1,428	29	37	116	69	198	127	247	23	44	100	159	281
Securities, unamortized premiums and discounts, repurchase agreements, and loans¹	7,631,285	170,201	3,928,456	176,745	240,745	477,342	559,476	423,698	120,901	84,930	124,735	366,151	957,906
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	25,959	0	25,959	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program)²	30,970	30,970	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Municipal Liquidity Facility LLC²	11,416	0	11,416	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF II LLC²	5,283	0	5,283	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps³	795	36	267	29	69	165	36	31	15	7	9	14	117
Foreign currency denominated
assets⁴	21,515	977	7,232	773	1,860	4,477	973	843	409	183	233	388	3,168
Other assets⁵	39,660	955	19,205	993	1,309	2,834	2,982	2,238	755	553	943	2,067	4,826
Interdistrict settlement account	0	- 42,847	+ 110,681	+ 16,719	+ 80,343	+ 33,602	- 101,754	+ 41,151	- 8,689	- 14,444	- 11,739	- 11,592	- 91,429

Total assets	7,793,104	160,853	4,122,574	195,903	325,156	519,783	464,022	469,345	113,893	71,542	114,729	358,390	876,914

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, April 14, 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	2,107,251	62,728	683,762	57,186	104,333	157,900	293,667	130,920	59,489	33,173	54,976	184,986	284,133
Reverse repurchase agreements⁶	281,853	6,329	145,931	6,430	8,818	17,665	20,772	15,743	4,453	2,664	4,482	13,584	34,981
Deposits	5,299,502	75,172	3,235,961	130,507	208,167	335,041	146,862	320,376	48,915	34,873	54,512	158,493	550,623
Depository institutions	3,936,454	75,159	2,035,893	130,505	208,127	334,362	146,819	161,425	48,899	34,639	53,709	156,321	550,596
U.S. Treasury, General Account	921,685	0	921,685	0	0	0	0	0	0	0	0	0	0
Foreign official	31,075	2	31,048	1	3	8	2	2	1	0	0	1	6
Other⁷	410,288	11	247,335	0	37	670	41	158,950	16	234	802	2,171	21
Earnings remittances due to the U.S. Treasury⁸	2,821	62	1,468	64	93	192	207	149	32	24	42	132	355
Treasury contributions to credit facilities⁹	50,278	16,572	33,706	0	0	0	0	0	0	0	0	0	0
Other liabilities and accrued dividends	12,131	-1,788	8,573	309	356	838	731	620	258	459	285	476	1,014

Total liabilities	7,753,836	159,075	4,109,402	194,495	321,768	511,636	462,238	467,809	113,148	71,193	114,296	357,670	871,106

Capital
Capital paid in	32,482	1,470	10,892	1,164	2,801	6,735	1,477	1,270	616	291	360	597	4,809
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	7,793,104	160,853	4,122,574	195,903	325,156	519,783	464,022	469,345	113,893	71,542	114,729	358,390	876,914

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, April 14, 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, 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.

	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	Apr 14, 2021
Federal Reserve notes outstanding	2,263,062
Less: Notes held by F.R. Banks not subject to collateralization	155,811
Federal Reserve notes to be collateralized	2,107,251
Collateral held against Federal Reserve notes	2,107,251
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	2,091,014
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	7,224,865
Less: Face value of securities under reverse repurchase agreements	269,859
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,955,006

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