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 June 3, 2021 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Jun 2, 2021 Federal Reserve Banks Jun 2, 2021 May 26, 2021 Jun 3, 2020 Reserve Bank credit 7,879,913 - 9,317 + 778,729 7,895,638 Securities held outright1 7,349,075 - 8,601 +1,388,966 7,365,641 U.S. Treasury securities 5,102,458 + 20,353 + 980,017 5,119,023 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,382,646 + 18,176 + 881,222 4,398,990 Notes and bonds, inflation-indexed2 342,856 + 1,429 + 84,662 342,856 Inflation compensation3 50,913 + 749 + 14,134 51,133 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,244,270 - 28,954 + 408,948 2,244,270 Unamortized premiums on securities held outright5 348,972 - 777 + 43,957 349,132 Unamortized discounts on securities held outright5 -13,636 - 209 - 8,149 -13,695 Repurchase agreements6 0 - 7 - 199,714 0 Foreign official 0 0 0 0 Others 0 - 7 - 199,714 0 Loans 84,785 + 792 - 19,656 84,977 Primary credit 578 - 48 - 13,153 578 Secondary credit 0 0 0 0 Seasonal credit 5 + 3 0 9 Primary Dealer Credit Facility 0 0 - 5,782 0 Money Market Mutual Fund Liquidity Facility 0 0 - 31,661 0 Paycheck Protection Program Liquidity Facility 84,202 + 837 + 30,940 84,389 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 8,554 0 - 4,240 8,554 Net portfolio holdings of Corporate Credit Facilities LLC7 25,963 - 13 - 9,609 25,963 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,562 + 10 + 30,562 30,567 Net portfolio holdings of Municipal Liquidity Facility LLC7 10,881 - 32 - 2,040 10,882 Net portfolio holdings of TALF II LLC7 4,784 - 138 + 4,784 4,761 Float -614 - 490 - 34 -700 Central bank liquidity swaps8 642 - 36 - 446,602 513 Other Federal Reserve assets9 29,945 + 183 + 504 29,042 Foreign currency denominated assets10 21,727 - 28 + 992 21,815 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,656 + 14 + 428 50,656 Total factors supplying reserve funds 7,968,537 - 9,331 + 780,150 7,984,349 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 Jun 2, 2021 Federal Reserve Banks Jun 2, 2021 May 26, 2021 Jun 3, 2020 Currency in circulation11 2,176,914 + 6,758 + 227,230 2,179,122 Reverse repurchase agreements12 702,342 + 87,342 + 449,270 672,906 Foreign official and international accounts 232,330 + 8,250 - 19,884 234,128 Others 470,012 + 79,092 + 469,155 438,778 Treasury cash holdings 37 + 3 - 162 37 Deposits with F.R. Banks, other than reserve balances 1,175,343 - 111,620 - 441,271 1,183,620 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 783,235 - 29,238 - 651,588 812,087 Foreign official 26,846 - 169 + 10,569 26,748 Other13 365,262 - 82,213 + 199,748 344,785 Treasury contributions to credit facilities14 50,278 0 - 32,293 50,278 Other liabilities and capital15 49,495 - 762 + 709 50,123 Total factors, other than reserve balances, absorbing reserve funds 4,154,409 - 18,281 + 203,482 4,136,087 Reserve balances with Federal Reserve Banks 3,814,127 + 8,949 + 576,666 3,848,262 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 $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.

H.4.1 1A. Memorandum Items Millions of dollars Averages of daily figures Wednesday Memorandum item Week ended Change from week ended Jun 2, 2021 Jun 2, 2021 May 26, 2021 Jun 3, 2020 Securities held in custody for foreign official and international accounts 3,536,109 + 926 + 146,334 3,539,316 Marketable U.S. Treasury securities1 3,096,284 + 9,272 + 169,001 3,099,724 Federal agency debt and mortgage-backed securities2 350,924 - 8,731 - 26,409 350,572 Other securities3 88,900 + 384 + 3,741 89,019 Securities lent to dealers 38,474 + 2,162 + 8,095 36,662 Overnight facility4 38,474 + 2,162 + 8,095 36,662 U.S. Treasury securities 38,474 + 2,162 + 8,095 36,662 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, June 2, 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 171 416 20,512 63,876 1 ... 84,977 U.S. Treasury securities2 Holdings 62,321 316,521 643,631 1,976,806 928,755 1,190,991 5,119,023 Weekly changes - 25,692 + 12,856 - 4,331 + 39,426 + 2,193 + 7,415 + 31,866 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 15 1,847 67,131 2,175,277 2,244,270 Weekly changes 0 0 + 4 + 3 - 7 + 5 + 5 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 16,320 ... ... 16,320 Municipal notes held by Municipal Liquidity Facility LLC7 150 0 0 5,358 ... ... 5,508 Loans held by TALF II LLC8 0 0 0 1,675 ... ... 1,675 Repurchase agreements9 0 0 ... ... ... ... 0 Central bank liquidity swaps10 175 338 0 0 0 0 513 Reverse repurchase agreements9 672,906 0 ... ... ... ... 672,906 Term deposits 0 0 0 ... ... ... 0 Note: Components may not sum to totals because of rounding. ...Not applicable. 1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB’s statement of condition, respectively, consistent with consolidation under generally accepted accounting principles. 2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities. 3. Face value. 4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC. 6. Book value of the loan participations held by the MS Facilities LLC. 7. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 8. Book value of the loans held by the TALF II LLC. 9. Cash value of agreements. 10. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Wednesday Account name Jun 2, 2021 Mortgage-backed securities held outright1 2,244,270 Residential mortgage-backed securities 2,234,447 Commercial mortgage-backed securities 9,823 Commitments to buy mortgage-backed securities2 201,850 Commitments to sell mortgage-backed securities2 10 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 Jun 2, 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 8,554 8,554 Corporate Credit Facilities LLC 13,757 13,566 12,398 25,963 MS Facilities LLC (Main Street Lending Program) 16,282 13,662 16,906 30,567 Municipal Liquidity Facility LLC 5,508 5,508 5,374 10,882 TALF II LLC 1,733 1,675 3,086 4,761 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, net of an allowance for loan losses updated as of March 31, 2021. d. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on a one-day lag after the transaction date. e. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. 3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6.

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 Jun 2, 2021 May 26, 2021 Jun 3, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,240 - 19 - 194 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,786,055 + 32,207 +1,200,487 Securities held outright1 7,365,641 + 31,872 +1,393,344 U.S. Treasury securities 5,119,023 + 31,866 + 984,667 Bills2 326,044 0 0 Notes and bonds, nominal2 4,398,990 + 31,204 + 886,566 Notes and bonds, inflation-indexed2 342,856 0 + 83,705 Inflation compensation3 51,133 + 662 + 14,396 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,244,270 + 5 + 408,676 Unamortized premiums on securities held outright5 349,132 + 371 + 43,863 Unamortized discounts on securities held outright5 -13,695 - 73 - 8,191 Repurchase agreements6 0 - 46 - 211,550 Loans7 84,977 + 83 - 16,979 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 8,554 0 - 4,241 Net portfolio holdings of Corporate Credit Facilities LLC8 25,963 - 74 - 10,191 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,567 + 8 + 30,567 Net portfolio holdings of Municipal Liquidity Facility LLC8 10,882 + 3 - 5,193 Net portfolio holdings of TALF II LLC8 4,761 - 162 + 4,761 Items in process of collection (0) 74 + 2 + 33 Bank premises 1,911 - 9 - 287 Central bank liquidity swaps9 513 - 165 - 446,432 Foreign currency denominated assets10 21,815 + 70 + 1,047 Other assets11 27,131 + 301 + 129 Total assets (0) 7,935,703 + 32,162 + 770,486 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 Jun 2, 2021 May 26, 2021 Jun 3, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,129,739 + 6,164 + 226,079 Reverse repurchase agreements12 672,906 + 2,473 + 426,852 Deposits (0) 5,031,882 + 21,035 + 171,185 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,848,262 - 3,361 + 590,827 U.S. Treasury, General Account 812,087 + 33,175 - 619,375 Foreign official 26,748 - 328 + 10,467 Other13 (0) 344,785 - 8,452 + 189,266 Deferred availability cash items (0) 774 + 542 + 16 Treasury contributions to credit facilities14 50,278 0 - 53,722 Other liabilities and accrued dividends15 10,615 + 1,948 - 516 Total liabilities (0) 7,896,195 + 32,161 + 769,895 Capital accounts Capital paid in 32,724 + 1 + 632 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 39,509 + 1 + 592 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 $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.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, June 2, 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 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075 Coin 1,240 18 28 108 57 177 114 225 15 34 86 146 232 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,786,055 128,924 4,364,897 167,461 292,435 518,677 452,574 421,278 101,616 81,623 105,666 341,792 809,113 Net portfolio holdings of Commercial Paper Funding Facility II LLC2 8,554 0 8,554 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC2 25,963 0 25,963 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 10,882 0 10,882 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 4,761 0 4,761 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 513 23 172 18 44 107 23 20 10 4 6 9 76 Foreign currency denominated assets4 21,815 986 7,396 780 1,878 4,520 982 851 413 185 235 391 3,198 Other assets5 29,116 574 14,965 709 1,106 2,205 1,832 1,616 664 397 688 1,402 2,959 Interdistrict settlement account 0 + 21,654- 249,601+ 29,213- 2,332- 5,075+ 23,038+ 76,876+ 6,598- 11,734+ 7,240+ 22,602 + 81,522 Total assets 7,935,703 183,276 4,193,439 198,813 293,941 521,797 480,751 502,002 109,791 70,781 114,376 367,561 899,175 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, June 2, 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 2,129,739 63,060 695,802 62,824 104,820 157,541 300,941 128,751 58,263 32,738 53,633 188,704 282,662 Reverse repurchase agreements6 672,906 11,245 380,364 14,212 24,484 45,090 39,427 36,721 8,773 5,207 8,936 29,757 68,690 Deposits 5,031,882 92,620 3,063,290 120,038 160,797 309,994 137,795 334,274 41,758 31,562 51,099 147,730 540,927 Depository institutions 3,848,262 92,601 2,058,956 120,037 160,524 309,161 137,663 160,029 41,749 31,065 48,395 147,183 540,900 U.S. Treasury, General Account 812,087 0 812,087 0 0 0 0 0 0 0 0 0 0 Foreign official 26,748 2 26,722 1 3 8 2 2 1 0 0 1 6 Other7 344,785 17 165,526 0 269 825 131 174,243 8 497 2,703 546 21 Earnings remittances due to the U.S. Treasury8 2,742 49 1,545 53 98 202 167 149 32 26 29 123 268 Treasury contributions to credit facilities9 50,278 16,572 33,706 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 8,647 -2,049 5,465 279 358 802 627 566 222 900 246 417 813 Total liabilities 7,896,195 181,497 4,180,173 197,406 290,558 513,628 478,958 500,461 109,049 70,432 113,942 366,730 893,361 Capital Capital paid in 32,724 1,472 10,986 1,164 2,796 6,756 1,486 1,275 613 291 361 709 4,815 Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 7,935,703 183,276 4,193,439 198,813 293,941 521,797 480,751 502,002 109,791 70,781 114,376 367,561 899,175 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, June 2, 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. 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 each Federal Reserve Bank’s allotted surplus cap. 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 $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 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 Jun 2, 2021 Federal Reserve notes outstanding 2,305,556 Less: Notes held by F.R. Banks not subject to collateralization 175,817 Federal Reserve notes to be collateralized 2,129,739 Collateral held against Federal Reserve notes 2,129,739 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,113,502 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,365,641 Less: Face value of securities under reverse repurchase agreements 633,969 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,731,671 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.