FRB: H.4.1 Release--Factors Affecting Reserve Balances-- July 01, 2021

FEDERAL RESERVE statistical release

For Release at
4:30 P.M. Eastern Time
July 1, 2021

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," has been modified to reflect the Federal Reserve's full return of
the Treasury's equity investment in the Commercial Paper Funding Facility II LLC (CPFF II LLC), which
occurred on June 29, 2021. Footnote 14 in Factors Affecting Reserve Balances of Depository Institutions (table 1) and
Consolidated Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of
Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

Additionally, the outstanding amount of facility asset purchases reported in Information on Principal
Accounts of Credit Facilities LLCs (table 4) has been modified to reflect corporate bonds at fair value instead of
book value following the June 2, 2021 announcement to begin winding down the Corporate Credit Facilities LLC
portfolio. (https://www.federalreserve.gov/newsevents/pressreleases/monetary20210602a.htm)

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks July 1, 2021

1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jun 30, 2021
Federal Reserve Banks Jun 30, 2021 Jun 23, 2021 Jul 1, 2020

Reserve Bank credit 8,039,489 - 11,533 +1,063,690 8,038,724
Securities held outright (1) 7,502,739 - 6,889 +1,384,488 7,505,369
U.S. Treasury securities 5,175,843 + 17,772 + 971,302 5,183,385
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,445,343 + 14,484 + 869,254 4,449,349
Notes and bonds, inflation-indexed (2) 349,776 + 2,232 + 83,094 352,886
Inflation compensation (3) 54,680 + 1,056 + 18,954 55,107
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,324,549 - 24,661 + 413,186 2,319,637
Unamortized premiums on securities held outright (5) 351,259 - 769 + 37,681 351,402
Unamortized discounts on securities held outright (5) -14,194 - 207 - 8,898 -14,312
Repurchase agreements (6) 0 0 - 75,379 0
Foreign official 0 0 - 144 0
Others 0 0 - 75,236 0
Loans 90,994 + 4,397 - 5,892 91,126
Primary credit 460 - 136 - 5,417 477
Secondary credit 0 0 0 0
Seasonal credit 20 + 9 + 7 23
Primary Dealer Credit Facility 0 0 - 2,616 0
Money Market Mutual Fund Liquidity Facility 0 0 - 21,617 0
Paycheck Protection Program Liquidity Facility 90,514 + 4,525 + 23,751 90,626
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 1,250 - 7,304 - 11,549 0
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 25,868 + 21 - 15,491 25,902
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,539 + 9 - 6,963 30,547
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 10,738 + 2 - 5,342 10,740
Net portfolio holdings of TALF II LLC (7) 4,752 - 10 - 4,001 4,689
Float -323 - 210 + 174 -1,062
Central bank liquidity swaps (8) 577 + 102 - 226,226 568
Other Federal Reserve assets (9) 35,290 - 675 + 1,087 33,756
Foreign currency denominated assets (10) 21,307 - 6 + 427 21,221
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,712 + 14 + 456 50,712

Total factors supplying reserve funds 8,127,750 - 11,523 +1,064,573 8,126,898

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jun 30, 2021
Federal Reserve Banks Jun 30, 2021 Jun 23, 2021 Jul 1, 2020

Currency in circulation (11) 2,180,636 + 2,179 + 213,560 2,183,581
Reverse repurchase agreements (12) 1,073,886 + 61,697 + 853,787 1,260,925
Foreign official and international accounts 250,780 + 5,385 + 30,938 268,986
Others 823,106 + 56,312 + 822,848 991,939
Treasury cash holdings 42 - 1 - 23 41
Deposits with F.R. Banks, other than reserve balances 995,890 - 44,160 - 834,844 1,082,185
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 745,962 + 11,273 - 911,658 851,929
Foreign official 6,772 + 1,071 - 9,445 5,255
Other (13) 243,156 - 56,505 + 86,259 225,002
Treasury contributions to credit facilities (14) 47,421 - 2,857 - 66,579 40,278
Other liabilities and capital (15) 49,084 - 1,130 + 2,701 48,258

Total factors, other than reserve balances,
absorbing reserve funds 4,346,959 + 15,728 + 168,601 4,615,269

Reserve balances with Federal Reserve Banks 3,780,791 - 27,251 + 895,972 3,511,630

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.
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 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
Week ended Change from week ended Jun 30, 2021
Jun 30, 2021 Jun 23, 2021 Jul 1, 2020

Securities held in custody for foreign official and
international accounts 3,522,582 - 17,637 + 108,536 3,535,807
Marketable U.S. Treasury securities (1) 3,081,621 - 17,402 + 121,329 3,095,251
Federal agency debt and mortgage-backed securities (2) 351,954 - 226 - 16,808 351,785
Other securities (3) 89,007 - 10 + 4,014 88,771
Securities lent to dealers 40,275 - 648 + 12,097 48,966
Overnight facility (4) 40,275 - 648 + 12,097 48,966
U.S. Treasury securities 40,275 - 648 + 12,097 48,966
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 30, 2021
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years

Loans (1) 243 256 15,443 75,180 3 ... 91,126
U.S. Treasury securities (2)
Holdings 79,125 267,131 678,379 1,995,709 950,972 1,212,068 5,183,385
Weekly changes - 1,063 - 32,796 + 30,770 + 12,000 + 3,379 + 7,650 + 19,940
Federal agency debt securities (3)
Holdings 0 0 0 0 2,134 213 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 13 1,758 65,210 2,252,657 2,319,637
Weekly changes 0 0 - 2 - 82 - 1,276 - 33,157 - 34,518
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 16,201 ... ... 16,201
Municipal notes held by Municipal
Liquidity Facility LLC (7) 397 0 0 4,373 ... ... 4,771
Loans held by TALF II LLC (8) 0 0 0 1,622 ... ... 1,622
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 230 338 0 0 0 0 568
Reverse repurchase agreements (9) 1,260,925 0 ... ... ... ... 1,260,925
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
Jun 30, 2021

Mortgage-backed securities held outright (1) 2,319,637
Residential mortgage-backed securities 2,309,868
Commercial mortgage-backed securities 9,770

Commitments to buy mortgage-backed securities (2) 166,649
Commitments to sell mortgage-backed securities (2) 168

Cash and cash equivalents (3) 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 Jun 30, 2021
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total

Commercial Paper Funding Facility II LLC 0 0 0 0
Corporate Credit Facilities LLC 13,609 10,174 15,727 25,902
MS Facilities LLC (Main Street Lending Program) 16,228 13,542 17,004 30,547
Municipal Liquidity Facility LLC 5,358 4,771 5,969 10,740
TALF II LLC 1,660 1,622 3,067 4,689

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 and corporate bonds at
fair 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 Wednesday Change since
from Jun 30, 2021 Wednesday Wednesday
consolidation Jun 23, 2021 Jul 1, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,233 - 3 - 242
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,933,585 - 12,092 +1,339,324
Securities held outright (1) 7,505,369 - 14,578 +1,378,421
U.S. Treasury securities 5,183,385 + 19,940 + 970,165
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,449,349 + 15,376 + 868,210
Notes and bonds, inflation-indexed (2) 352,886 + 3,628 + 82,680
Inflation compensation (3) 55,107 + 937 + 19,276
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,319,637 - 34,518 + 408,256
Unamortized premiums on securities held outright
(5) 351,402 - 824 + 37,078
Unamortized discounts on securities held outright
(5) -14,312 - 211 - 8,967
Repurchase agreements (6) 0 0 - 61,201
Loans (7) 91,126 + 3,521 - 6,007
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 0 - 8,554 - 12,799
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 25,902 + 39 - 16,038
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,547 + 9 - 6,955
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 10,740 + 2 - 5,341
Net portfolio holdings of TALF II LLC (8) 4,689 - 73 - 4,064
Items in process of collection (0) 66 + 14 + 20
Bank premises 1,929 + 12 - 264
Central bank liquidity swaps (9) 568 + 85 - 224,846
Foreign currency denominated assets (10) 21,221 - 110 + 237
Other assets (11) 31,827 - 2,731 + 472

Total assets (0) 8,078,544 - 23,401 +1,069,504

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jun 30, 2021 Wednesday Wednesday
consolidation Jun 23, 2021 Jul 1, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,134,139 + 4,006 + 211,152
Reverse repurchase agreements (12) 1,260,925 + 204,994 +1,033,689
Deposits (0) 4,593,815 - 223,223 - 104,271
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,511,630 - 254,084 + 648,434
U.S. Treasury, General Account 851,929 + 118,052 - 804,818
Foreign official 5,255 - 1,514 - 10,968
Other (13) (0) 225,002 - 85,677 + 63,082
Deferred availability cash items (0) 1,128 + 905 + 327
Treasury contributions to credit facilities (14) 40,278 - 10,000 - 73,722
Other liabilities and accrued dividends (15) 8,654 - 84 + 1,570

Total liabilities (0) 8,038,940 - 23,401 +1,068,745

Capital accounts
Capital paid in 32,819 0 + 799
Surplus 6,785 0 - 40
Other capital accounts 0 0 0

Total capital 39,604 0 + 759

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.
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 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 30, 2021
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Assets
Gold certificates and special drawing
rights certificates 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075
Coin 1,233 19 26 109 55 180 111 229 15 32 85 143 229
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,933,585 131,203 4,444,793 170,240 301,130 527,224 460,444 428,839 103,365 89,180 106,389 347,943 822,838
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 25,902 0 25,902 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,547 30,547 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 10,740 0 10,740 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 4,689 0 4,689 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 568 26 191 20 49 118 26 22 11 5 6 10 84
Foreign currency denominated
assets (4) 21,221 962 7,144 761 1,833 4,413 959 831 403 180 229 382 3,123
Other assets (5) 33,822 654 17,695 817 1,290 2,550 2,106 1,883 583 433 763 1,600 3,450
Interdistrict settlement account 0 + 50,634 - 395,539 + 36,117 + 21,205 + 245 + 54,923 + 98,023 + 12,892 - 12,634 + 13,955 + 25,006 + 95,173

Total assets 8,078,544 214,575 4,121,063 208,588 326,314 535,917 520,756 530,962 117,744 77,468 121,882 376,304 926,970

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 30, 2021 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco

Liabilities
Federal Reserve notes, net 2,134,139 64,690 697,577 63,410 104,461 156,956 299,735 128,161 57,559 32,429 53,550 194,222 281,390
Reverse repurchase agreements (6) 1,260,925 21,071 712,746 26,632 45,880 84,492 73,880 68,809 16,439 9,757 16,744 55,760 128,715
Deposits 4,593,815 112,466 2,667,959 116,749 172,086 285,452 144,683 331,825 42,770 33,760 50,897 125,020 510,146
Depository institutions 3,511,630 112,160 1,765,173 116,748 171,753 284,855 144,002 156,962 42,760 32,458 49,984 124,655 510,120
U.S. Treasury, General Account 851,929 0 851,929 0 0 0 0 0 0 0 0 0 0
Foreign official 5,255 2 5,228 1 3 8 2 2 1 0 0 1 6
Other (7) 225,002 303 45,630 0 330 588 679 174,862 10 1,302 913 364 20
Earnings remittances due to the U.S.
Treasury (8) 1,587 16 949 28 46 72 102 89 18 18 20 78 151
Treasury contributions to credit
facilities (9) 40,278 16,572 23,706 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 8,195 -2,019 4,860 269 333 777 563 537 214 1,280 236 392 753

Total liabilities 8,038,940 212,795 4,107,796 207,087 322,807 527,749 518,963 529,421 117,001 77,244 121,448 375,473 921,156

Capital
Capital paid in 32,819 1,472 10,987 1,257 2,921 6,756 1,486 1,275 613 167 361 709 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 8,078,544 214,575 4,121,063 208,588 326,314 535,917 520,756 530,962 117,744 77,468 121,882 376,304 926,970

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 30, 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.
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 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).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jun 30, 2021

Federal Reserve notes outstanding 2,329,429
Less: Notes held by F.R. Banks not subject to collateralization 195,289
Federal Reserve notes to be collateralized 2,134,139
Collateral held against Federal Reserve notes 2,134,139
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,117,903
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,505,369
Less: Face value of securities under reverse repurchase agreements 1,194,020
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,311,349

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