FRB: H.4.1 Release--Factors Affecting Reserve Balances-- August 05, 2021

FEDERAL RESERVE statistical release

For Release at
4:30 P.M. Eastern Time
August 5, 2021

In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending
Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was
estimated based upon the Main Street Lending Program holdings as of June 30, 2021.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks August 5, 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 Aug 4, 2021
Federal Reserve Banks Aug 4, 2021 Jul 28, 2021 Aug 5, 2020

Reserve Bank credit 8,188,664 - 10,805 +1,286,399 8,196,062
Securities held outright (1) 7,657,197 - 8,448 +1,422,297 7,664,767
U.S. Treasury securities 5,270,064 + 13,095 + 970,967 5,277,635
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,537,347 + 10,432 + 871,961 4,543,634
Notes and bonds, inflation-indexed (2) 349,285 + 1,770 + 77,236 350,142
Inflation compensation (3) 57,388 + 893 + 21,770 57,815
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,384,785 - 21,544 + 451,329 2,384,785
Unamortized premiums on securities held outright (5) 352,658 - 581 + 31,316 352,788
Unamortized discounts on securities held outright (5) -14,675 - 59 - 9,680 -14,738
Repurchase agreements (6) 0 0 0 0
Foreign official 0 0 0 0
Others 0 0 0 0
Loans 84,631 - 1,638 - 3,181 83,925
Primary credit 337 - 77 - 3,192 268
Secondary credit 1 + 1 + 1 0
Seasonal credit 14 - 2 - 20 17
Primary Dealer Credit Facility 0 0 - 1,191 0
Money Market Mutual Fund Liquidity Facility 0 0 - 13,133 0
Paycheck Protection Program Liquidity Facility 84,279 - 1,560 + 14,356 83,640
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 0 0 - 8,861 0
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 22,657 + 8 - 21,623 22,659
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,545 + 105 - 7,049 30,567
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 9,762 + 2 - 6,324 9,763
Net portfolio holdings of TALF II LLC (7) 4,538 - 152 - 5,585 4,513
Float -324 - 121 + 96 -96
Central bank liquidity swaps (8) 478 + 2 - 106,488 478
Other Federal Reserve assets (9) 41,197 + 77 + 1,482 41,438
Foreign currency denominated assets (10) 21,361 + 163 - 316 21,317
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,782 + 14 + 483 50,782

Total factors supplying reserve funds 8,277,048 - 10,627 +1,286,567 8,284,402

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 Aug 4, 2021
Federal Reserve Banks Aug 4, 2021 Jul 28, 2021 Aug 5, 2020

Currency in circulation (11) 2,187,134 + 1,936 + 190,508 2,188,604
Reverse repurchase agreements (12) 1,260,094 + 104,331 +1,040,309 1,216,357
Foreign official and international accounts 278,954 + 25,156 + 59,278 284,602
Others 981,140 + 79,174 + 981,031 931,755
Treasury cash holdings 48 - 2 0 46
Deposits with F.R. Banks, other than reserve balances 734,112 - 138,911 -1,164,630 742,972
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 492,668 - 85,536 -1,252,560 505,871
Foreign official 6,111 - 13 - 10,117 7,176
Other (13) 235,333 - 53,363 + 98,047 229,925
Treasury contributions to credit facilities (14) 40,278 0 - 73,722 40,278
Other liabilities and capital (15) 49,804 + 813 + 1,811 50,252

Total factors, other than reserve balances,
absorbing reserve funds 4,271,470 - 31,834 - 5,724 4,238,510

Reserve balances with Federal Reserve Banks 4,005,578 + 21,207 +1,292,291 4,045,893

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 Aug 4, 2021
Aug 4, 2021 Jul 28, 2021 Aug 5, 2020

Securities held in custody for foreign official and
international accounts 3,507,805 - 6,599 + 99,246 3,496,471
Marketable U.S. Treasury securities (1) 3,073,505 - 5,626 + 110,312 3,061,445
Federal agency debt and mortgage-backed securities (2) 344,019 - 1,333 - 15,185 344,037
Other securities (3) 90,282 + 362 + 4,120 90,988
Securities lent to dealers 28,675 + 1,908 + 594 32,058
Overnight facility (4) 28,675 + 1,908 + 594 32,058
U.S. Treasury securities 28,675 + 1,908 + 594 32,058
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, August 4, 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) 83 201 10,875 72,765 0 ... 83,925
U.S. Treasury securities (2)
Holdings 112,640 249,075 682,163 2,038,269 960,016 1,235,472 5,277,635
Weekly changes + 33,734 - 33,877 + 5,756 + 3,544 - 2,145 + 6,883 + 13,895
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 18 1,818 64,221 2,318,728 2,384,785
Weekly changes 0 0 + 4 + 36 + 699 - 733 + 6
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (5) 0 0 0 16,152 ... ... 16,152
Municipal notes held by Municipal
Liquidity Facility LLC (6) 0 0 0 4,373 ... ... 4,373
Loans held by TALF II LLC (7) 0 0 0 1,479 ... ... 1,479
Repurchase agreements (8) 0 0 ... ... ... ... 0
Central bank liquidity swaps (9) 203 275 0 0 0 0 478
Reverse repurchase agreements (8) 1,216,357 0 ... ... ... ... 1,216,357
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 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 the loan participations held by the MS Facilities LLC.
6. Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
7. Book value of the loans held by the TALF II LLC.
8. Cash value of agreements.
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.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Aug 4, 2021

Mortgage-backed securities held outright (1) 2,384,785
Residential mortgage-backed securities 2,375,073
Commercial mortgage-backed securities 9,713

Commitments to buy mortgage-backed securities (2) 151,222
Commitments to sell mortgage-backed securities (2) 0

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 Aug 4, 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

Corporate Credit Facilities LLC 10,333 3,894 18,764 22,659
MS Facilities LLC (Main Street Lending Program) 16,097 13,607 16,960 30,567
Municipal Liquidity Facility LLC 4,373 4,373 5,390 9,763
TALF II LLC 1,482 1,479 3,034 4,513

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 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.
b. 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 June 30, 2021.
c. 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.
d. 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: 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 Aug 4, 2021 Wednesday Wednesday
consolidation Jul 28, 2021 Aug 5, 2020

Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,253 + 2 - 280
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 8,086,741 + 12,488 +1,444,480
Securities held outright (1) 7,664,767 + 13,901 +1,423,303
U.S. Treasury securities 5,277,635 + 13,895 + 971,984
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,543,634 + 11,803 + 873,199
Notes and bonds, inflation-indexed (2) 350,142 + 1,199 + 76,836
Inflation compensation (3) 57,815 + 893 + 21,949
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,384,785 + 6 + 451,319
Unamortized premiums on securities held outright
(5) 352,788 + 239 + 31,119
Unamortized discounts on securities held outright
(5) -14,738 - 89 - 9,790
Repurchase agreements (6) 0 0 0
Loans (7) 83,925 - 1,562 - 151
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 0 0 - 8,646
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 22,659 + 5 - 21,692
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,567 + 122 - 7,034
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 9,763 + 2 - 6,324
Net portfolio holdings of TALF II LLC (8) 4,513 - 177 - 5,610
Items in process of collection (0) 108 + 30 + 49
Bank premises 1,677 - 89 - 515
Central bank liquidity swaps (9) 478 + 2 - 105,185
Foreign currency denominated assets (10) 21,317 + 81 - 429
Other assets (11) 39,760 + 1,134 + 1,022

Total assets (0) 8,235,073 + 13,600 +1,289,836

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 Aug 4, 2021 Wednesday Wednesday
consolidation Jul 28, 2021 Aug 5, 2020

Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,139,117 + 2,234 + 187,122
Reverse repurchase agreements (12) 1,216,357 - 3,776 +1,003,909
Deposits (0) 4,788,865 + 13,550 + 171,184
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 4,045,893 + 44,832 +1,292,362
U.S. Treasury, General Account 505,871 - 31,095 -1,200,766
Foreign official 7,176 + 982 - 9,052
Other (13) (0) 229,925 - 1,169 + 88,641
Deferred availability cash items (0) 204 - 687 - 88
Treasury contributions to credit facilities (14) 40,278 0 - 73,722
Other liabilities and accrued dividends (15) 10,555 + 2,181 + 609

Total liabilities (0) 8,195,376 + 13,501 +1,289,014

Capital accounts
Capital paid in 32,912 + 98 + 861
Surplus 6,785 0 - 40
Other capital accounts 0 0 0

Total capital 39,697 + 98 + 821

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, August 4, 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 1,253 20 24 115 58 181 117 233 16 31 87 145 226
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 8,086,741 133,841 4,534,370 172,525 307,022 537,640 469,611 437,428 105,152 88,460 108,051 354,909 837,733
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 22,659 0 22,659 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 LLC (2) 9,763 0 9,763 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 4,513 0 4,513 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 478 22 161 17 41 100 22 19 9 4 5 9 70
Foreign currency denominated
assets (4) 21,317 968 7,166 765 1,843 4,436 964 835 405 181 231 384 3,139
Other assets (5) 41,546 784 22,029 975 1,576 3,048 2,595 2,294 701 512 867 1,937 4,227
Interdistrict settlement account 0 + 24,439 - 383,289 + 14,851 + 9,664 + 5,285 + 55,437 + 96,173 + 15,286 - 9,557 + 15,175 + 43,894 + 112,643

Total assets 8,235,073 191,171 4,222,816 189,771 320,957 551,876 530,933 538,117 122,046 79,904 124,870 402,498 960,113

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, August 4, 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 2,139,117 66,531 692,806 63,760 103,455 155,432 305,780 126,877 57,935 32,786 53,202 195,778 284,776
Reverse repurchase agreements (6) 1,216,357 20,326 687,553 25,690 44,258 81,506 71,269 66,377 15,858 9,412 16,152 53,789 124,166
Deposits 4,788,865 87,788 2,798,429 98,498 169,304 305,858 151,328 342,652 47,239 37,146 54,809 151,481 544,333
Depository institutions 4,045,893 87,778 2,238,307 98,496 169,261 305,297 151,194 161,837 47,230 36,902 53,999 151,285 544,306
U.S. Treasury, General Account 505,871 0 505,871 0 0 0 0 0 0 0 0 0 0
Foreign official 7,176 2 7,149 1 3 8 2 2 1 0 0 1 6
Other (7) 229,925 8 47,101 0 40 553 132 180,813 8 243 810 194 21
Earnings remittances due to the U.S.
Treasury (8) 3,002 72 1,700 64 107 153 191 152 56 34 32 133 307
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 7,757 -1,884 5,333 260 324 759 597 519 215 302 239 379 714

Total liabilities 8,195,376 189,406 4,209,527 188,272 317,449 543,708 529,165 536,577 121,303 79,679 124,435 401,560 954,296

Capital
Capital paid in 32,912 1,457 11,009 1,256 2,922 6,756 1,461 1,275 614 167 362 816 4,818
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 8,235,073 191,171 4,222,816 189,771 320,957 551,876 530,933 538,117 122,046 79,904 124,870 402,498 960,113

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, August 4, 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
Aug 4, 2021

Federal Reserve notes outstanding 2,354,907
Less: Notes held by F.R. Banks not subject to collateralization 215,790
Federal Reserve notes to be collateralized 2,139,117
Collateral held against Federal Reserve notes 2,139,117
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,122,880
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,664,767
Less: Face value of securities under reverse repurchase agreements 1,140,775
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,523,992

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