H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 1, 2020 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 Sep 30, 2020 Federal Reserve Banks Sep 30, 2020 Sep 23, 2020 Oct 2, 2019 Reserve Bank credit 7,016,405 - 15,657 +3,123,980 7,015,460 Securities held outright1 6,429,943 - 8,535 +2,847,619 6,430,599 U.S. Treasury securities 4,438,807 + 22,702 +2,326,089 4,445,477 Bills2 326,044 0 + 320,042 326,044 Notes and bonds, nominal2 3,785,348 + 20,795 +1,821,674 3,790,453 Notes and bonds, inflation-indexed2 287,352 + 1,434 + 168,672 288,760 Inflation compensation3 40,064 + 474 + 15,701 40,220 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 1,988,789 - 31,238 + 521,531 1,982,775 Unamortized premiums on securities held outright5 333,204 + 259 + 206,116 333,422 Unamortized discounts on securities held outright5 -4,736 + 134 + 7,950 -4,736 Repurchase agreements6 429 + 429 - 171,371 1,000 Foreign official 429 + 429 + 429 1,000 Others 0 0 - 171,800 0 Loans 77,499 - 425 + 77,401 78,373 Primary credit 3,114 - 23 + 3,105 3,437 Secondary credit 0 0 0 0 Seasonal credit 41 + 6 - 49 42 Primary Dealer Credit Facility 233 0 + 233 233 Money Market Mutual Fund Liquidity Facility 7,196 - 181 + 7,196 7,088 Paycheck Protection Program Liquidity Facility 66,914 - 227 + 66,914 67,573 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 8,588 0 + 8,588 8,589 Net portfolio holdings of Corporate Credit Facilities LLC7 45,026 + 52 + 45,026 45,042 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 39,519 + 342 + 39,519 39,718 Net portfolio holdings of Municipal Liquidity Facility LLC7 16,546 + 1 + 16,546 16,547 Net portfolio holdings of TALF II LLC7 11,516 + 85 + 11,516 11,715 Float -502 - 298 + 90 -1,329 Central bank liquidity swaps8 25,399 - 7,211 + 24,426 23,895 Other Federal Reserve assets9 33,975 - 490 + 10,555 32,625 Foreign currency denominated assets10 21,475 - 205 + 918 21,553 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,411 + 14 + 417 50,411 Total factors supplying reserve funds 7,104,532 - 15,848 +3,125,314 7,103,665 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 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 Sep 30, 2020 Federal Reserve Banks Sep 30, 2020 Sep 23, 2020 Oct 2, 2019 Currency in circulation11 2,029,931 + 1,523 + 267,135 2,032,544 Reverse repurchase agreements12 202,522 + 2,218 - 89,459 205,233 Foreign official and international accounts 202,214 + 1,918 - 84,911 204,383 Others 308 + 300 - 4,547 850 Treasury cash holdings 38 - 9 - 143 25 Deposits with F.R. Banks, other than reserve balances 1,870,890 - 26,820 +1,460,380 1,961,073 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 1,679,152 - 1,536 +1,343,981 1,781,679 Foreign official 18,878 + 7 + 13,692 18,916 Other13 172,860 - 25,292 + 102,707 160,477 Treasury contributions to credit facilities14 114,000 0 + 114,000 114,000 Other liabilities and capital15 47,834 - 1,579 + 3,283 47,545 Total factors, other than reserve balances, absorbing reserve funds 4,265,216 - 24,665 +1,755,198 4,360,419 Reserve balances with Federal Reserve Banks 2,839,316 + 8,817 +1,370,116 2,743,245 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements. 7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. 8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC. 10. Revalued daily at current foreign currency exchange rates. 11. Estimated. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities 13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. 14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 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.

H.4.1 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Memorandum item Week ended Change from week ended Sep 30, 2020 Sep 30, 2020 Sep 23, 2020 Oct 2, 2019 Securities held in custody for foreign official and international accounts 3,412,119 - 11,986 - 29,308 3,408,450 Marketable U.S. Treasury securities1 2,980,332 - 7,149 - 19,035 2,977,320 Federal agency debt and mortgage-backed securities2 346,362 - 4,612 - 13,319 345,547 Other securities3 85,425 - 224 + 3,046 85,583 Securities lent to dealers 25,352 + 975 - 6,500 30,709 Overnight facility4 25,352 + 975 - 6,500 30,709 U.S. Treasury securities 25,352 + 975 - 6,500 30,709 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.

H.4.1 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, September 30, 2020 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 Remaining Maturity All days 90 days 1 year to 5 years to 10 years years Loans1 2,297 4,581 3,923 67,573 0 ... 78,373 U.S. Treasury securities2 Holdings 56,106 238,394 694,799 1,673,536 788,868 993,773 4,445,477 Weekly changes - 16,106 - 9,604 + 22,827 + 8,237 + 1,578 + 7,021 + 13,954 Federal agency debt securities3 Holdings 0 0 0 0 1,436 911 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 0 4 2,128 77,419 1,903,224 1,982,775 Weekly changes 0 0 - 1 - 97 - 1,553 - 40,441 - 42,093 Commercial paper held by Commercial Paper Funding Facility II LLC5 30 0 0 ... ... ... 30 Loan participations held by MS Facilities LLC (Main Street Lending Program)6 0 0 0 2,195 ... ... 2,195 Municipal notes held by Municipal Liquidity Facility LLC7 0 0 1,200 451 ... ... 1,651 Loans held by TALF II LLC8 0 0 0 3,180 ... ... 3,180 Repurchase agreements9 1,000 0 ... ... ... ... 1,000 Central bank liquidity swaps10 17,640 6,256 0 0 0 0 23,895 Reverse repurchase agreements9 205,233 0 ... ... ... ... 205,233 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, Money Market Mutual Fund Liquidity 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.

H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Wednesday Account name Sep 30, 2020 Mortgage-backed securities held outright1 1,982,775 Residential mortgage-backed securities 1,973,276 Commercial mortgage-backed securities 9,500 Commitments to buy mortgage-backed securities2 134,799 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 3 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6. 4. Information on Principal Accounts of Credit Facilities LLCs Millions of dollars Wednesday Sep 30, 2020 Net portfolio holdings of Credit Facilities LLCs Outstanding Credit Facilities LLCs: principal Outstanding amount amount of Treasury of loan facility contributions extended to asset and the LLC1 purchases2 other assets3 Total Commercial Paper Funding Facility II LLC 30 30 8,559 8,589 Corporate Credit Facilities LLC 12,875 13,022 32,021 45,042 MS Facilities LLC (Main Street Lending Program) 2,195 2,195 37,523 39,718 Municipal Liquidity Facility LLC 1,651 1,651 14,896 16,547 TALF II LLC 3,207 3,180 8,535 11,715 Note: Components may not sum to totals because of rounding. 1. Book value. This amount was eliminated when preparing the Federal Reserve Banks’ statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity. 2. Outstanding amount of facility asset purchases: a. For the Commercial Paper Funding Facility II LLC includes commercial paper at book value. b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances from trading activity are reported on a one-day lag after the transaction date. c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value. 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 initially 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.

H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Wednesday Assets, liabilities, and capital Wednesday Wednesday consolidation Sep 30, 2020 Sep 23, 2020 Oct 2, 2019 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,477 + 10 - 225 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,838,658 - 27,426 +2,956,248 Securities held outright1 6,430,599 - 28,139 +2,843,861 U.S. Treasury securities 4,445,477 + 13,954 +2,328,347 Bills2 326,044 0 + 320,042 Notes and bonds, nominal2 3,790,453 + 10,622 +1,823,089 Notes and bonds, inflation-indexed2 288,760 + 2,842 + 169,368 Inflation compensation3 40,220 + 489 + 15,848 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 1,982,775 - 42,093 + 515,515 Unamortized premiums on securities held outright5 333,422 - 529 + 206,267 Unamortized discounts on securities held outright5 -4,736 + 101 + 7,910 Repurchase agreements6 1,000 + 1,000 - 180,050 Loans7 78,373 + 142 + 78,259 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 8,589 + 1 + 8,589 Net portfolio holdings of Corporate Credit Facilities LLC8 45,042 + 70 + 45,042 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 39,718 + 363 + 39,718 Net portfolio holdings of Municipal Liquidity Facility LLC8 16,547 + 1 + 16,547 Net portfolio holdings of TALF II LLC8 11,715 + 284 + 11,715 Items in process of collection (0) 72 + 13 + 23 Bank premises 2,201 + 6 + 18 Central bank liquidity swaps9 23,895 - 8,055 + 22,922 Foreign currency denominated assets10 21,553 + 43 + 854 Other assets11 30,425 - 2,342 + 8,846 Total assets (0) 7,056,129 - 37,032 +3,110,298 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Change since Eliminations from Wednesday Assets, liabilities, and capital Wednesday Wednesday consolidation Sep 30, 2020 Sep 23, 2020 Oct 2, 2019 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,983,630 + 3,423 + 266,157 Reverse repurchase agreements12 205,233 + 881 - 83,385 Deposits (0) 4,704,319 - 42,126 +2,809,381 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 2,743,246 - 104,839 +1,256,536 U.S. Treasury, General Account 1,781,679 + 119,947 +1,446,494 Foreign official 18,916 + 45 + 13,730 Other13 (0) 160,477 - 57,280 + 92,621 Deferred availability cash items (0) 1,402 + 897 + 916 Treasury contributions to credit facilities14 114,000 0 + 114,000 Other liabilities and accrued dividends15 8,328 - 215 + 3,323 Total liabilities (0) 7,016,912 - 37,141 +3,110,393 Capital accounts Capital paid in 32,392 + 109 - 95 Surplus 6,825 0 0 Other capital accounts 0 0 0 Total capital 39,217 + 109 - 95 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. 8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. 9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 10. Revalued daily at current foreign currency exchange rates. 11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. 14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion. 15. Includes the liability for earnings remittances due to the U.S. Treasury.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, September 30, 2020 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Assets Gold certificates and special drawing rights certificates 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045 Coin 1,477 28 31 119 83 206 146 246 25 43 101 165 284 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,838,658 160,935 3,512,584 161,391 213,723 428,068 502,563 381,639 108,733 71,006 113,557 328,918 855,542 Net portfolio holdings of Commercial Paper Funding Facility II LLC2 8,589 0 8,589 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC2 45,042 0 45,042 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 39,718 39,718 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 16,547 0 16,547 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 11,715 0 11,715 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 23,895 1,134 8,030 860 2,042 5,044 1,185 928 392 187 252 284 3,558 Foreign currency denominated assets4 21,553 1,022 7,254 775 1,840 4,546 1,068 836 353 169 227 256 3,206 Other assets5 32,698 2,340 14,239 812 1,085 2,312 2,494 1,858 666 443 812 1,674 3,964 Interdistrict settlement account 0 - 25,623+ 390,412- 33,338+ 50,960+ 14,416- 98,603- 10,113- 24,442- 14,692- 24,721- 48,271 - 175,985 Total assets 7,056,129 180,089 4,019,925 131,147 270,494 455,757 411,036 376,531 86,205 57,425 90,677 284,228 692,614 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, September 30, 2020 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes, net 1,983,630 61,500 661,347 56,186 93,739 131,325 281,527 127,766 59,241 33,454 54,379 167,097 256,070 Reverse repurchase agreements6 205,233 4,609 106,261 4,682 6,421 12,863 15,125 11,463 3,243 1,940 3,264 9,891 25,472 Deposits 4,704,319 72,750 3,160,567 68,610 166,635 302,640 111,930 235,260 22,779 20,157 32,382 106,167 404,443 Depository institutions 2,743,246 72,734 1,317,651 68,609 164,234 302,288 108,247 124,931 22,764 20,092 32,344 104,955 404,396 U.S. Treasury, General Account 1,781,679 0 1,781,679 0 0 0 0 0 0 0 0 0 0 Foreign official 18,916 2 18,890 1 3 8 2 2 1 0 0 0 6 Other7 160,477 14 42,347 0 2,397 344 3,681 110,327 14 65 37 1,211 41 Earnings remittances due to the U.S. Treasury8 1,132 21 596 17 34 65 92 63 15 14 13 55 147 Treasury contributions to credit facilities9 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 8,597 378 2,983 243 285 684 566 448 200 1,533 219 357 701 Total liabilities 7,016,912 178,257 4,006,754 129,740 267,113 447,578 409,240 375,000 85,477 57,097 90,257 283,566 686,834 Capital Capital paid in 32,392 1,508 10,878 1,162 2,797 6,738 1,458 1,266 616 275 349 581 4,764 Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 7,056,129 180,089 4,019,925 131,147 270,494 455,757 411,036 376,531 86,205 57,425 90,677 284,228 692,614 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, September 30, 2020 (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, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. 2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. 3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 4. Revalued daily at current foreign currency exchange rates. 5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio holdings of Maiden Lane LLC; refer to the note on consolidation for additional information. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. 8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus. 9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 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 dollardenominated 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).

H.4.1 7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts Millions of dollars Wednesday Federal Reserve notes and collateral Sep 30, 2020 Federal Reserve notes outstanding 2,133,002 Less: Notes held by F.R. Banks not subject to collateralization 149,372 Federal Reserve notes to be collateralized 1,983,630 Collateral held against Federal Reserve notes 1,983,630 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,967,393 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,431,599 Less: Face value of securities under reverse repurchase agreements 195,169 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,236,430 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.