FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, August 5, 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 reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Aug 4, 2021
	Week ended Aug 4, 2021	Change from week ended
	Week ended 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 outright¹	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
Bills²	326,044	0	0	326,044
Notes and bonds, nominal²	4,537,347	+ 10,432	+ 871,961	4,543,634
Notes and bonds, inflation-indexed²	349,285	+ 1,770	+ 77,236	350,142
Inflation compensation³	57,388	+ 893	+ 21,770	57,815
Federal agency debt securities²	2,347	0	0	2,347
Mortgage-backed securities⁴	2,384,785	- 21,544	+ 451,329	2,384,785
Unamortized premiums on securities held outright⁵	352,658	- 581	+ 31,316	352,788
Unamortized discounts on securities held outright⁵	-14,675	- 59	- 9,680	-14,738
Repurchase agreements⁶	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 LLC⁷	0	0	- 8,861	0
Net portfolio holdings of Corporate Credit Facilities LLC⁷	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 LLC⁷	9,762	+ 2	- 6,324	9,763
Net portfolio holdings of TALF II LLC⁷	4,538	- 152	- 5,585	4,513
Float	-324	- 121	+ 96	-96
Central bank liquidity swaps⁸	478	+ 2	- 106,488	478
Other Federal Reserve assets⁹	41,197	+ 77	+ 1,482	41,438
Foreign currency denominated assets¹⁰	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 outstanding¹¹	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 reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Aug 4, 2021
	Week ended Aug 4, 2021	Change from week ended
	Week ended Aug 4, 2021	Jul 28, 2021	Aug 5, 2020
Currency in circulation¹¹	2,187,134	+ 1,936	+ 190,508	2,188,604
Reverse repurchase agreements¹²	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
Other¹³	235,333	- 53,363	+ 98,047	229,925
Treasury contributions to credit facilities¹⁴	40,278	0	- 73,722	40,278
Other liabilities and capital¹⁵	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 Aug 4, 2021
	Week ended Aug 4, 2021	Change from week ended
	Week ended 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 securities¹	3,073,505	- 5,626	+ 110,312	3,061,445
Federal agency debt and mortgage-backed securities²	344,019	- 1,333	- 15,185	344,037
Other securities³	90,282	+ 362	+ 4,120	90,988
Securities lent to dealers	28,675	+ 1,908	+ 594	32,058
Overnight facility⁴	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 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	83	201	10,875	72,765	0	...	83,925
U.S. Treasury securities²
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 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	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 LLC⁶	0	0	0	4,373	...	...	4,373
Loans held by TALF II LLC⁷	0	0	0	1,479	...	...	1,479
Repurchase agreements⁸	0	0	...	...	...	...	0
Central bank liquidity swaps⁹	203	275	0	0	0	0	478
Reverse repurchase agreements⁸	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
Account name	Aug 4, 2021
Mortgage-backed securities held outright¹	2,384,785
Residential mortgage-backed securities	2,375,073
Commercial mortgage-backed securities	9,713

Commitments to buy mortgage-backed securities²	151,222
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	0

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
2.	Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.
3.	This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:	Wednesday 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 LLC¹	purchases²	other assets³	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 from consolidation	Wednesday Aug 4, 2021	Change since
			Wednesday	Wednesday
			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 outright¹		7,664,767	+ 13,901	+1,423,303
U.S. Treasury securities		5,277,635	+ 13,895	+ 971,984
Bills²		326,044	0	0
Notes and bonds, nominal²		4,543,634	+ 11,803	+ 873,199
Notes and bonds, inflation-indexed²		350,142	+ 1,199	+ 76,836
Inflation compensation³		57,815	+ 893	+ 21,949
Federal agency debt securities²		2,347	0	0
Mortgage-backed securities⁴		2,384,785	+ 6	+ 451,319
Unamortized premiums on securities held outright⁵		352,788	+ 239	+ 31,119
Unamortized discounts on securities held outright⁵		-14,738	- 89	- 9,790
Repurchase agreements⁶		0	0	0
Loans⁷		83,925	- 1,562	- 151
Net portfolio holdings of Commercial Paper Funding Facility II LLC⁸		0	0	- 8,646
Net portfolio holdings of Corporate Credit Facilities LLC⁸		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 LLC⁸		9,763	+ 2	- 6,324
Net portfolio holdings of TALF II LLC⁸		4,513	- 177	- 5,610
Items in process of collection	(0)	108	+ 30	+ 49
Bank premises		1,677	- 89	- 515
Central bank liquidity swaps⁹		478	+ 2	- 105,185
Foreign currency denominated assets¹⁰		21,317	+ 81	- 429
Other assets¹¹		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 from consolidation	Wednesday Aug 4, 2021	Change since
			Wednesday	Wednesday
			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 agreements¹²		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
Other¹³	(0)	229,925	- 1,169	+ 88,641
Deferred availability cash items	(0)	204	- 687	- 88
Treasury contributions to credit facilities¹⁴		40,278	0	- 73,722
Other liabilities and accrued dividends¹⁵		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
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	1,253	20	24	115	58	181	117	233	16	31	87	145	226
Securities, unamortized premiums and discounts, repurchase agreements, and loans¹	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 LLC²	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 LLC²	9,763	0	9,763	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF II LLC²	4,513	0	4,513	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps³	478	22	161	17	41	100	22	19	9	4	5	9	70
Foreign currency denominated
assets⁴	21,317	968	7,166	765	1,843	4,436	964	835	405	181	231	384	3,139
Other assets⁵	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
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes, net	2,139,117	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 agreements⁶	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
Other⁷	229,925	8	47,101	0	40	553	132	180,813	8	243	810	194	21
Earnings remittances due to the U.S. Treasury⁸	3,002	72	1,700	64	107	153	191	152	56	34	32	133	307
Treasury contributions to credit facilities⁹	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).

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	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