H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time January 7, 2021 The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the Federal Reserve’s return of a portion of Treasury’s equity investment in the Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC, which occurred on January 5, 2021. Footnote 14 in Factors Affecting Reserve Balances of Depository Institutions (table 1) and Consolidated Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 7, 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 Jan 6, 2021 Federal Reserve Banks Jan 6, 2021 Dec 30, 2020 Jan 8, 2020 Reserve Bank credit 7,306,876 - 43,534 +3,178,548 7,294,489 Securities held outright1 6,733,491 - 24,170 +2,986,806 6,741,237 U.S. Treasury securities 4,691,676 + 2,770 +2,356,014 4,699,421 Bills2 326,044 0 + 152,233 326,044 Notes and bonds, nominal2 4,007,673 + 480 +1,998,667 4,015,445 Notes and bonds, inflation-indexed2 314,307 + 2,283 + 186,923 314,307 Inflation compensation3 43,652 + 8 + 18,192 43,625 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,039,468 - 26,941 + 630,791 2,039,469 Unamortized premiums on securities held outright5 342,899 - 1,236 + 218,423 342,993 Unamortized discounts on securities held outright5 -5,530 - 91 + 7,710 -5,544 Repurchase agreements6 1,000 0 - 239,958 1,000 Foreign official 1,000 0 + 1,000 1,000 Others 0 0 - 240,958 0 Loans 55,466 - 1,511 + 55,461 54,216 Primary credit 1,577 - 208 + 1,574 1,485 Secondary credit 0 0 0 0 Seasonal credit 0 0 - 2 0 Primary Dealer Credit Facility 485 0 + 485 485 Money Market Mutual Fund Liquidity Facility 3,264 - 609 + 3,264 2,496 Paycheck Protection Program Liquidity Facility 50,140 - 694 + 50,140 49,750 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 8,557 0 + 8,557 8,557 Net portfolio holdings of Corporate Credit Facilities LLC7 37,911 - 8,544 + 37,911 26,371 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 54,119 + 602 + 54,119 54,155 Net portfolio holdings of Municipal Liquidity Facility LLC7 17,164 - 4,111 + 17,164 11,680 Net portfolio holdings of TALF II LLC7 9,818 - 2,845 + 9,818 6,676 Float -372 - 180 - 170 -112 Central bank liquidity swaps8 17,744 + 761 + 14,016 16,911 Other Federal Reserve assets9 34,608 - 2,208 + 8,692 36,349 Foreign currency denominated assets10 22,315 + 77 + 1,565 22,340 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,535 + 14 + 457 50,535 Total factors supplying reserve funds 7,395,966 - 43,445 +3,180,568 7,383,606 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 Jan 6, 2021 Federal Reserve Banks Jan 6, 2021 Dec 30, 2020 Jan 8, 2020 Currency in circulation11 2,090,492 + 8,952 + 285,527 2,092,385 Reverse repurchase agreements12 212,779 + 7,762 - 65,672 206,335 Foreign official and international accounts 207,263 + 2,510 - 68,023 206,331 Others 5,516 + 5,252 + 2,351 4 Treasury cash holdings 28 - 2 - 144 32 Deposits with F.R. Banks, other than reserve balances 1,872,318 + 6,062 +1,437,763 1,797,467 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 1,669,327 + 78,272 +1,302,325 1,607,396 Foreign official 21,839 + 9 + 16,657 21,839 Other13 181,152 - 72,220 + 118,781 168,232 Treasury contributions to credit facilities14 102,202 - 11,798 + 102,202 72,706 Other liabilities and capital15 49,864 - 548 + 6,696 50,903 Total factors, other than reserve balances, absorbing reserve funds 4,327,682 + 10,428 +1,766,370 4,219,828 Reserve balances with Federal Reserve Banks 3,068,284 - 53,872 +1,414,198 3,163,778 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements. 7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. 8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC. 10. Revalued daily at current foreign currency exchange rates. 11. Estimated. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities 13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. 14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 Jan 6, 2021 Jan 6, 2021 Dec 30, 2020 Jan 8, 2020 Securities held in custody for foreign official and international accounts 3,489,119 - 1,459 + 81,254 3,500,716 Marketable U.S. Treasury securities1 3,047,931 + 1,293 + 81,592 3,059,580 Federal agency debt and mortgage-backed securities2 354,608 - 2,751 - 4,268 354,551 Other securities3 86,579 - 2 + 3,929 86,585 Securities lent to dealers 31,305 + 2,178 - 3,034 30,324 Overnight facility4 31,305 + 2,178 - 3,034 30,324 U.S. Treasury securities 31,305 + 2,178 - 3,034 30,324 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, January 6, 2021 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 1,559 2,707 200 49,750 0 ... 54,216 U.S. Treasury securities2 Holdings 65,582 320,631 647,973 1,768,527 836,876 1,059,832 4,699,421 Weekly changes - 28,344 + 24,848 - 1,838 + 1,504 + 8,962 + 5,374 + 10,505 Federal agency debt securities3 Holdings 0 0 0 0 1,818 529 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 0 5 2,096 72,097 1,965,271 2,039,469 Weekly changes 0 0 + 1 + 80 + 52 - 133 + 1 Commercial paper held by Commercial Paper Funding Facility II LLC5 0 0 0 ... ... ... 0 Loan participations held by MS Facilities LLC (Main Street Lending Program)6 0 0 0 16,552 ... ... 16,552 Municipal notes held by Municipal Liquidity Facility LLC7 0 0 925 5,358 ... ... 6,283 Loans held by TALF II LLC8 0 0 0 3,552 ... ... 3,552 Repurchase agreements9 1,000 0 ... ... ... ... 1,000 Central bank liquidity swaps10 7,307 9,604 0 0 0 0 16,911 Reverse repurchase agreements9 206,335 0 ... ... ... ... 206,335 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 Jan 6, 2021 Mortgage-backed securities held outright1 2,039,469 Residential mortgage-backed securities 2,029,629 Commercial mortgage-backed securities 9,840 Commitments to buy mortgage-backed securities2 220,868 Commitments to sell mortgage-backed securities2 8,084 Cash and cash equivalents3 2 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 Jan 6, 2021 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 0 0 8,557 8,557 Corporate Credit Facilities LLC 14,138 14,248 12,123 26,371 MS Facilities LLC (Main Street Lending Program) 16,542 16,456 37,699 54,155 Municipal Liquidity Facility LLC 6,361 6,283 5,397 11,680 TALF II LLC 3,656 3,552 3,124 6,676 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, net of an allowance for loan losses updated as of September 30, 2020, 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 approximately 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6.

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 Jan 6, 2021 Dec 30, 2020 Jan 8, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,563 + 1 - 114 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,133,901 + 7,976 +3,053,378 Securities held outright1 6,741,237 + 10,506 +2,982,499 U.S. Treasury securities 4,699,421 + 10,505 +2,351,707 Bills2 326,044 0 + 141,517 Notes and bonds, nominal2 4,015,445 + 8,252 +2,005,095 Notes and bonds, inflation-indexed2 314,307 + 2,283 + 186,923 Inflation compensation3 43,625 - 29 + 18,172 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,039,469 + 1 + 630,792 Unamortized premiums on securities held outright5 342,993 + 70 + 218,519 Unamortized discounts on securities held outright5 -5,544 - 114 + 7,734 Repurchase agreements6 1,000 0 - 209,587 Loans7 54,216 - 2,485 + 54,214 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 8,557 0 + 8,557 Net portfolio holdings of Corporate Credit Facilities LLC8 26,371 - 20,161 + 26,371 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 54,155 + 82 + 54,155 Net portfolio holdings of Municipal Liquidity Facility LLC8 11,680 - 9,598 + 11,680 Net portfolio holdings of TALF II LLC8 6,676 - 5,988 + 6,676 Items in process of collection (0) 65 - 17 + 9 Bank premises 2,207 - 15 + 9 Central bank liquidity swaps9 16,911 - 972 + 13,183 Foreign currency denominated assets10 22,340 - 89 + 1,708 Other assets11 34,143 + 237 + 9,650 Total assets (0) 7,334,809 - 28,542 +3,185,265 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 Jan 6, 2021 Dec 30, 2020 Jan 8, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,043,442 + 5,469 + 289,332 Reverse repurchase agreements12 206,335 - 3,428 - 68,588 Deposits (0) 4,961,246 + 9,879 +2,884,757 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,163,779 + 20,802 +1,507,150 U.S. Treasury, General Account 1,607,396 - 6,118 +1,256,556 Foreign official 21,839 + 8 + 16,657 Other13 (0) 168,232 - 4,813 + 104,393 Deferred availability cash items (0) 177 - 666 - 2 Treasury contributions to credit facilities14 72,706 - 41,294 + 72,706 Other liabilities and accrued dividends15 11,699 + 1,496 + 6,380 Total liabilities (0) 7,295,604 - 28,546 +3,184,583 Capital accounts Capital paid in 32,380 + 4 + 682 Surplus 6,825 0 0 Other capital accounts 0 0 0 Total capital 39,205 + 4 + 682 Note: Components may not sum to totals because of rounding. 1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. 2. Face value of the securities. 3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. 8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. 9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 10. Revalued daily at current foreign currency exchange rates. 11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC. 12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. 14. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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, January 6, 2021 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 1,563 31 40 131 83 207 153 258 33 44 106 188 291 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,133,901 162,704 3,675,472 167,158 223,055 446,685 523,758 396,908 113,230 74,836 116,980 343,080 890,033 Net portfolio holdings of Commercial Paper Funding Facility II LLC2 8,557 0 8,557 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC2 26,371 0 26,371 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 54,155 54,155 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 11,680 0 11,680 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 6,676 0 6,676 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 16,911 803 5,683 609 1,445 3,569 839 657 277 132 178 201 2,518 Foreign currency denominated assets4 22,340 1,060 7,510 804 1,909 4,715 1,108 867 366 175 236 265 3,326 Other assets5 36,415 2,405 16,112 910 1,204 2,578 2,758 2,063 714 487 880 1,876 4,429 Interdistrict settlement account 0 - 37,583+ 161,411- 8,211+ 84,863+ 120,345- 115,340- 17,572- 17,318- 4,260- 12,137- 33,649 - 120,549 Total assets 7,334,809 184,108 3,924,997 161,930 313,320 579,263 415,458 384,318 97,780 71,684 106,693 313,164 782,093 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, January 6, 2021 (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 2,043,442 62,143 675,231 56,350 93,648 152,766 280,935 132,638 59,194 33,454 55,231 173,546 268,305 Reverse repurchase agreements6 206,335 4,634 106,831 4,707 6,456 12,932 15,206 11,525 3,260 1,950 3,281 9,944 25,609 Deposits 4,961,246 75,977 3,090,479 99,146 209,441 404,483 116,637 237,945 34,345 35,629 47,487 128,465 481,212 Depository institutions 3,163,779 75,959 1,405,035 99,145 209,403 403,478 116,552 129,493 34,343 35,562 46,105 127,518 481,185 U.S. Treasury, General Account 1,607,396 0 1,607,396 0 0 0 0 0 0 0 0 0 0 Foreign official 21,839 2 21,813 1 3 8 2 2 1 0 0 0 6 Other7 168,232 15 56,236 0 34 996 83 108,451 1 66 1,381 946 21 Earnings remittances due to the U.S. Treasury8 1,784 34 949 38 53 97 136 98 27 15 27 88 221 Treasury contributions to credit facilities9 72,706 39,000 33,706 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 10,092 527 4,627 280 340 806 738 579 227 308 244 456 960 Total liabilities 7,295,604 182,314 3,911,823 160,522 309,937 571,084 413,653 382,785 97,053 71,356 106,271 312,500 776,308 Capital Capital paid in 32,380 1,470 10,880 1,163 2,800 6,739 1,467 1,269 616 275 350 583 4,769 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 7,334,809 184,108 3,924,997 161,930 313,320 579,263 415,458 384,318 97,780 71,684 106,693 313,164 782,093 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, January 6, 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, 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 $13.9 billion, MS Facilities LLC of $37.5 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 Jan 6, 2021 Federal Reserve notes outstanding 2,194,521 Less: Notes held by F.R. Banks not subject to collateralization 151,080 Federal Reserve notes to be collateralized 2,043,442 Collateral held against Federal Reserve notes 2,043,442 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,027,205 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,742,237 Less: Face value of securities under reverse repurchase agreements 198,875 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,543,361 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.