FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, June 3, 2021

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	June 3, 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 Jun 2, 2021
	Week ended Jun 2, 2021	Change from week ended
	Week ended Jun 2, 2021	May 26, 2021	Jun 3, 2020
Reserve Bank credit	7,879,913	- 9,317	+ 778,729	7,895,638
Securities held outright¹	7,349,075	- 8,601	+1,388,966	7,365,641
U.S. Treasury securities	5,102,458	+ 20,353	+ 980,017	5,119,023
Bills²	326,044	0	0	326,044
Notes and bonds, nominal²	4,382,646	+ 18,176	+ 881,222	4,398,990
Notes and bonds, inflation-indexed²	342,856	+ 1,429	+ 84,662	342,856
Inflation compensation³	50,913	+ 749	+ 14,134	51,133
Federal agency debt securities²	2,347	0	0	2,347
Mortgage-backed securities⁴	2,244,270	- 28,954	+ 408,948	2,244,270
Unamortized premiums on securities held outright⁵	348,972	- 777	+ 43,957	349,132
Unamortized discounts on securities held outright⁵	-13,636	- 209	- 8,149	-13,695
Repurchase agreements⁶	0	- 7	- 199,714	0
Foreign official	0	0	0	0
Others	0	- 7	- 199,714	0
Loans	84,785	+ 792	- 19,656	84,977
Primary credit	578	- 48	- 13,153	578
Secondary credit	0	0	0	0
Seasonal credit	5	+ 3	0	9
Primary Dealer Credit Facility	0	0	- 5,782	0
Money Market Mutual Fund Liquidity Facility	0	0	- 31,661	0
Paycheck Protection Program Liquidity Facility	84,202	+ 837	+ 30,940	84,389
Other credit extensions	0	0	0	0
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁷	8,554	0	- 4,240	8,554
Net portfolio holdings of Corporate Credit Facilities LLC⁷	25,963	- 13	- 9,609	25,963
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁷	30,562	+ 10	+ 30,562	30,567
Net portfolio holdings of Municipal Liquidity Facility LLC⁷	10,881	- 32	- 2,040	10,882
Net portfolio holdings of TALF II LLC⁷	4,784	- 138	+ 4,784	4,761
Float	-614	- 490	- 34	-700
Central bank liquidity swaps⁸	642	- 36	- 446,602	513
Other Federal Reserve assets⁹	29,945	+ 183	+ 504	29,042
Foreign currency denominated assets¹⁰	21,727	- 28	+ 992	21,815
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	50,656	+ 14	+ 428	50,656

Total factors supplying reserve funds	7,968,537	- 9,331	+ 780,150	7,984,349

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 Jun 2, 2021
	Week ended Jun 2, 2021	Change from week ended
	Week ended Jun 2, 2021	May 26, 2021	Jun 3, 2020
Currency in circulation¹¹	2,176,914	+ 6,758	+ 227,230	2,179,122
Reverse repurchase agreements¹²	702,342	+ 87,342	+ 449,270	672,906
Foreign official and international accounts	232,330	+ 8,250	- 19,884	234,128
Others	470,012	+ 79,092	+ 469,155	438,778
Treasury cash holdings	37	+ 3	- 162	37
Deposits with F.R. Banks, other than reserve balances	1,175,343	- 111,620	- 441,271	1,183,620
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	783,235	- 29,238	- 651,588	812,087
Foreign official	26,846	- 169	+ 10,569	26,748
Other¹³	365,262	- 82,213	+ 199,748	344,785
Treasury contributions to credit facilities¹⁴	50,278	0	- 32,293	50,278
Other liabilities and capital¹⁵	49,495	- 762	+ 709	50,123

Total factors, other than reserve balances, absorbing reserve funds	4,154,409	- 18,281	+ 203,482	4,136,087

Reserve balances with Federal Reserve Banks	3,814,127	+ 8,949	+ 576,666	3,848,262

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 Jun 2, 2021
	Week ended Jun 2, 2021	Change from week ended
	Week ended Jun 2, 2021	May 26, 2021	Jun 3, 2020
Securities held in custody for foreign official and international accounts	3,536,109	+ 926	+ 146,334	3,539,316
Marketable U.S. Treasury securities¹	3,096,284	+ 9,272	+ 169,001	3,099,724
Federal agency debt and mortgage-backed securities²	350,924	- 8,731	- 26,409	350,572
Other securities³	88,900	+ 384	+ 3,741	89,019
Securities lent to dealers	38,474	+ 2,162	+ 8,095	36,662
Overnight facility⁴	38,474	+ 2,162	+ 8,095	36,662
U.S. Treasury securities	38,474	+ 2,162	+ 8,095	36,662
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, June 2, 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	171	416	20,512	63,876	1	...	84,977
U.S. Treasury securities²
Holdings	62,321	316,521	643,631	1,976,806	928,755	1,190,991	5,119,023
Weekly changes	- 25,692	+ 12,856	- 4,331	+ 39,426	+ 2,193	+ 7,415	+ 31,866
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	15	1,847	67,131	2,175,277	2,244,270
Weekly changes	0	0	+ 4	+ 3	- 7	+ 5	+ 5
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	16,320	...	...	16,320
Municipal notes held by Municipal
Liquidity Facility LLC⁷	150	0	0	5,358	...	...	5,508
Loans held by TALF II LLC⁸	0	0	0	1,675	...	...	1,675
Repurchase agreements⁹	0	0	...	...	...	...	0
Central bank liquidity swaps¹⁰	175	338	0	0	0	0	513
Reverse repurchase agreements⁹	672,906	0	...	...	...	...	672,906
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	Jun 2, 2021
Mortgage-backed securities held outright¹	2,244,270
Residential mortgage-backed securities	2,234,447
Commercial mortgage-backed securities	9,823

Commitments to buy mortgage-backed securities²	201,850
Commitments to sell mortgage-backed securities²	10

Cash and cash equivalents³	3

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 Jun 2, 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	8,554	8,554
Corporate Credit Facilities LLC	13,757	13,566	12,398	25,963
MS Facilities LLC (Main Street Lending Program)	16,282	13,662	16,906	30,567
Municipal Liquidity Facility LLC	5,508	5,508	5,374	10,882
TALF II LLC	1,733	1,675	3,086	4,761

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

1.	Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity.
2.	Outstanding amount of facility asset purchases:
	a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value.
	b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances
	from trading activity are reported on a one-day lag after the transaction date.
	c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses
	updated as of March 31, 2021.
	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 Jun 2, 2021	Change since
			Wednesday	Wednesday
			May 26, 2021	Jun 3, 2020
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,240	- 19	- 194
Securities, unamortized premiums and discounts, repurchase agreements, and loans		7,786,055	+ 32,207	+1,200,487
Securities held outright¹		7,365,641	+ 31,872	+1,393,344
U.S. Treasury securities		5,119,023	+ 31,866	+ 984,667
Bills²		326,044	0	0
Notes and bonds, nominal²		4,398,990	+ 31,204	+ 886,566
Notes and bonds, inflation-indexed²		342,856	0	+ 83,705
Inflation compensation³		51,133	+ 662	+ 14,396
Federal agency debt securities²		2,347	0	0
Mortgage-backed securities⁴		2,244,270	+ 5	+ 408,676
Unamortized premiums on securities held outright⁵		349,132	+ 371	+ 43,863
Unamortized discounts on securities held outright⁵		-13,695	- 73	- 8,191
Repurchase agreements⁶		0	- 46	- 211,550
Loans⁷		84,977	+ 83	- 16,979
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁸		8,554	0	- 4,241
Net portfolio holdings of Corporate Credit Facilities LLC⁸		25,963	- 74	- 10,191
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)⁸		30,567	+ 8	+ 30,567
Net portfolio holdings of Municipal Liquidity Facility LLC⁸		10,882	+ 3	- 5,193
Net portfolio holdings of TALF II LLC⁸		4,761	- 162	+ 4,761
Items in process of collection	(0)	74	+ 2	+ 33
Bank premises		1,911	- 9	- 287
Central bank liquidity swaps⁹		513	- 165	- 446,432
Foreign currency denominated assets¹⁰		21,815	+ 70	+ 1,047
Other assets¹¹		27,131	+ 301	+ 129

Total assets	(0)	7,935,703	+ 32,162	+ 770,486

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 Jun 2, 2021	Change since
			Wednesday	Wednesday
			May 26, 2021	Jun 3, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,129,739	+ 6,164	+ 226,079
Reverse repurchase agreements¹²		672,906	+ 2,473	+ 426,852
Deposits	(0)	5,031,882	+ 21,035	+ 171,185
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,848,262	- 3,361	+ 590,827
U.S. Treasury, General Account		812,087	+ 33,175	- 619,375
Foreign official		26,748	- 328	+ 10,467
Other¹³	(0)	344,785	- 8,452	+ 189,266
Deferred availability cash items	(0)	774	+ 542	+ 16
Treasury contributions to credit facilities¹⁴		50,278	0	- 53,722
Other liabilities and accrued dividends¹⁵		10,615	+ 1,948	- 516

Total liabilities	(0)	7,896,195	+ 32,161	+ 769,895

Capital accounts
Capital paid in		32,724	+ 1	+ 632
Surplus		6,785	0	- 40
Other capital accounts		0	0	0

Total capital		39,509	+ 1	+ 592

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, June 2, 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	531	5,422	523	752	1,187	2,188	1,136	475	273	455	1,220	2,075
Coin	1,240	18	28	108	57	177	114	225	15	34	86	146	232
Securities, unamortized premiums and discounts, repurchase agreements, and loans¹	7,786,055	128,924	4,364,897	167,461	292,435	518,677	452,574	421,278	101,616	81,623	105,666	341,792	809,113
Net portfolio holdings of Commercial Paper Funding Facility II LLC²	8,554	0	8,554	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Corporate Credit Facilities LLC²	25,963	0	25,963	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program)²	30,567	30,567	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Municipal Liquidity Facility LLC²	10,882	0	10,882	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF II LLC²	4,761	0	4,761	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps³	513	23	172	18	44	107	23	20	10	4	6	9	76
Foreign currency denominated
assets⁴	21,815	986	7,396	780	1,878	4,520	982	851	413	185	235	391	3,198
Other assets⁵	29,116	574	14,965	709	1,106	2,205	1,832	1,616	664	397	688	1,402	2,959
Interdistrict settlement account	0	+ 21,654	- 249,601	+ 29,213	- 2,332	- 5,075	+ 23,038	+ 76,876	+ 6,598	- 11,734	+ 7,240	+ 22,602	+ 81,522

Total assets	7,935,703	183,276	4,193,439	198,813	293,941	521,797	480,751	502,002	109,791	70,781	114,376	367,561	899,175

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, June 2, 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	2,129,739	63,060	695,802	62,824	104,820	157,541	300,941	128,751	58,263	32,738	53,633	188,704	282,662
Reverse repurchase agreements⁶	672,906	11,245	380,364	14,212	24,484	45,090	39,427	36,721	8,773	5,207	8,936	29,757	68,690
Deposits	5,031,882	92,620	3,063,290	120,038	160,797	309,994	137,795	334,274	41,758	31,562	51,099	147,730	540,927
Depository institutions	3,848,262	92,601	2,058,956	120,037	160,524	309,161	137,663	160,029	41,749	31,065	48,395	147,183	540,900
U.S. Treasury, General Account	812,087	0	812,087	0	0	0	0	0	0	0	0	0	0
Foreign official	26,748	2	26,722	1	3	8	2	2	1	0	0	1	6
Other⁷	344,785	17	165,526	0	269	825	131	174,243	8	497	2,703	546	21
Earnings remittances due to the U.S. Treasury⁸	2,742	49	1,545	53	98	202	167	149	32	26	29	123	268
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	8,647	-2,049	5,465	279	358	802	627	566	222	900	246	417	813

Total liabilities	7,896,195	181,497	4,180,173	197,406	290,558	513,628	478,958	500,461	109,049	70,432	113,942	366,730	893,361

Capital
Capital paid in	32,724	1,472	10,986	1,164	2,796	6,756	1,486	1,275	613	291	361	709	4,815
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	7,935,703	183,276	4,193,439	198,813	293,941	521,797	480,751	502,002	109,791	70,781	114,376	367,561	899,175

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, June 2, 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	Jun 2, 2021
Federal Reserve notes outstanding	2,305,556
Less: Notes held by F.R. Banks not subject to collateralization	175,817
Federal Reserve notes to be collateralized	2,129,739
Collateral held against Federal Reserve notes	2,129,739
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	2,113,502
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	7,365,641
Less: Face value of securities under reverse repurchase agreements	633,969
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,731,671

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