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 10, 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 9, 2021 Federal Reserve Banks Jun 9, 2021 Jun 2, 2021 Jun 10, 2020 Reserve Bank credit 7,905,385 + 25,472 + 792,177 7,912,984 Securities held outright1 7,371,166 + 22,091 +1,390,033 7,376,508 U.S. Treasury securities 5,124,549 + 22,091 + 981,358 5,129,891 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,402,453 + 19,807 + 881,965 4,405,568 Notes and bonds, inflation-indexed2 344,343 + 1,487 + 84,192 346,058 Inflation compensation3 51,710 + 797 + 15,202 52,221 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,244,270 0 + 408,675 2,244,270 Unamortized premiums on securities held outright5 349,384 + 412 + 43,274 349,680 Unamortized discounts on securities held outright5 -13,740 - 104 - 8,265 -13,863 Repurchase agreements6 0 0 - 184,315 0 Foreign official 0 0 0 0 Others 0 0 - 184,314 0 Loans 86,509 + 1,724 - 13,094 87,580 Primary credit 486 - 92 - 8,766 502 Secondary credit 0 0 0 0 Seasonal credit 9 + 4 - 1 9 Primary Dealer Credit Facility 0 0 - 5,846 0 Money Market Mutual Fund Liquidity Facility 0 0 - 28,168 0 Paycheck Protection Program Liquidity Facility 86,014 + 1,812 + 29,689 87,069 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 8,554 0 - 4,241 8,554 Net portfolio holdings of Corporate Credit Facilities LLC7 25,906 - 57 - 10,914 25,856 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,569 + 7 + 26,015 30,576 Net portfolio holdings of Municipal Liquidity Facility LLC7 10,817 - 64 - 5,259 10,734 Net portfolio holdings of TALF II LLC7 4,761 - 23 + 4,761 4,762 Float -109 + 505 + 76 -132 Central bank liquidity swaps8 516 - 126 - 445,743 516 Other Federal Reserve assets9 31,051 + 1,106 - 153 32,213 Foreign currency denominated assets10 21,674 - 53 + 822 21,682 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,670 + 14 + 435 50,670 Total factors supplying reserve funds 7,993,970 + 25,433 + 793,434 8,001,576 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 9, 2021 Federal Reserve Banks Jun 9, 2021 Jun 2, 2021 Jun 10, 2020 Currency in circulation11 2,180,092 + 3,178 + 226,250 2,180,167 Reverse repurchase agreements12 710,510 + 8,168 + 468,888 720,936 Foreign official and international accounts 222,570 - 9,760 - 18,871 218,032 Others 487,940 + 17,928 + 487,759 502,904 Treasury cash holdings 38 + 1 - 113 42 Deposits with F.R. Banks, other than reserve balances 1,126,770 - 48,573 - 541,912 1,081,895 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 730,235 - 53,000 - 776,323 673,555 Foreign official 27,388 + 542 + 11,018 27,493 Other13 369,147 + 3,885 + 223,392 380,848 Treasury contributions to credit facilities14 50,278 0 - 53,722 50,278 Other liabilities and capital15 51,910 + 2,415 + 1,898 51,532 Total factors, other than reserve balances, absorbing reserve funds 4,119,599 - 34,810 + 101,291 4,084,851 Reserve balances with Federal Reserve Banks 3,874,371 + 60,244 + 692,143 3,916,725 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 9, 2021 Jun 9, 2021 Jun 2, 2021 Jun 10, 2020 Securities held in custody for foreign official and international accounts 3,547,626 + 11,517 + 140,570 3,541,703 Marketable U.S. Treasury securities1 3,107,895 + 11,611 + 163,100 3,101,823 Federal agency debt and mortgage-backed securities2 350,608 - 316 - 26,739 350,606 Other securities3 89,123 + 223 + 4,209 89,274 Securities lent to dealers 36,204 - 2,270 + 2,477 37,226 Overnight facility4 36,204 - 2,270 + 2,477 37,226 U.S. Treasury securities 36,204 - 2,270 + 2,477 37,226 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 9, 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 351 160 20,115 66,951 3 ... 87,580 U.S. Treasury securities2 Holdings 50,731 327,810 643,991 1,978,648 933,934 1,194,777 5,129,891 Weekly changes - 11,590 + 11,289 + 360 + 1,842 + 5,179 + 3,786 + 10,868 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 67,409 2,174,999 2,244,270 Weekly changes 0 0 0 0 + 278 - 278 0 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 16,298 ... ... 16,298 Municipal notes held by Municipal Liquidity Facility LLC7 0 0 0 5,358 ... ... 5,358 Loans held by TALF II LLC8 0 0 0 1,675 ... ... 1,675 Repurchase agreements9 0 0 ... ... ... ... 0 Central bank liquidity swaps10 163 353 0 0 0 0 516 Reverse repurchase agreements9 720,936 0 ... ... ... ... 720,936 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 9, 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 233,470 Commitments to sell mortgage-backed securities2 2,020 Cash and cash equivalents3 1 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 9, 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 13,609 13,405 12,451 25,856 MS Facilities LLC (Main Street Lending Program) 16,282 13,639 16,936 30,576 Municipal Liquidity Facility LLC 5,358 5,358 5,376 10,734 TALF II LLC 1,733 1,675 3,086 4,762 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 9, 2021 Jun 2, 2021 Jun 10, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,243 + 3 - 169 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,799,905 + 13,850 +1,244,663 Securities held outright1 7,376,508 + 10,867 +1,388,157 U.S. Treasury securities 5,129,891 + 10,868 + 979,482 Bills2 326,044 0 0 Notes and bonds, nominal2 4,405,568 + 6,578 + 878,794 Notes and bonds, inflation-indexed2 346,058 + 3,202 + 84,907 Inflation compensation3 52,221 + 1,088 + 15,781 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,244,270 0 + 408,675 Unamortized premiums on securities held outright5 349,680 + 548 + 42,864 Unamortized discounts on securities held outright5 -13,863 - 168 - 8,411 Repurchase agreements6 0 0 - 167,300 Loans7 87,580 + 2,603 - 10,647 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 8,554 0 - 4,242 Net portfolio holdings of Corporate Credit Facilities LLC8 25,856 - 107 - 11,518 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,576 + 9 - 1,299 Net portfolio holdings of Municipal Liquidity Facility LLC8 10,734 - 148 - 5,343 Net portfolio holdings of TALF II LLC8 4,762 + 1 + 4,762 Items in process of collection (0) 50 - 24 + 10 Bank premises 1,918 + 7 - 283 Central bank liquidity swaps9 516 + 3 - 444,004 Foreign currency denominated assets10 21,682 - 133 + 667 Other assets11 30,295 + 3,164 + 148 Total assets (0) 7,952,327 + 16,624 + 783,391 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 9, 2021 Jun 2, 2021 Jun 10, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,130,778 + 1,039 + 223,751 Reverse repurchase agreements12 720,936 + 48,030 + 480,122 Deposits (0) 4,998,620 - 33,262 + 131,338 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,916,725 + 68,463 + 726,071 U.S. Treasury, General Account 673,555 - 138,532 - 831,014 Foreign official 27,493 + 745 + 11,237 Other13 (0) 380,848 + 36,063 + 225,046 Deferred availability cash items (0) 182 - 592 - 95 Treasury contributions to credit facilities14 50,278 0 - 53,722 Other liabilities and accrued dividends15 12,020 + 1,405 + 1,399 Total liabilities (0) 7,912,815 + 16,620 + 782,794 Capital accounts Capital paid in 32,727 + 3 + 636 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 39,512 + 3 + 596 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 9, 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 1,243 19 29 109 58 178 114 227 14 34 85 146 230 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,799,905 129,043 4,371,337 167,637 294,794 519,367 453,155 421,870 101,759 82,935 105,718 342,224 810,065 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 25,856 0 25,856 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 30,576 30,576 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 10,734 0 10,734 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 4,762 0 4,762 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 516 23 173 19 45 107 23 20 10 4 6 9 76 Foreign currency denominated assets4 21,682 984 7,288 778 1,875 4,512 981 849 412 184 235 391 3,193 Other assets5 32,263 625 16,717 778 1,220 2,425 1,988 1,786 698 430 726 1,596 3,275 Interdistrict settlement account 0 + 14,324- 278,807+ 30,755+ 4,081+ 4,778+ 32,260+ 77,524+ 9,678- 12,001+ 6,336+ 26,907 + 84,164 Total assets 7,952,327 176,126 4,172,064 200,599 302,824 532,554 490,709 503,413 113,048 71,859 113,560 372,493 903,078 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 9, 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 2,130,778 62,947 697,676 63,068 104,670 157,331 300,898 128,163 58,333 32,523 53,490 190,116 281,564 Reverse repurchase agreements6 720,936 12,047 407,513 15,227 26,232 48,309 42,241 39,342 9,399 5,578 9,573 31,881 73,593 Deposits 4,998,620 84,775 3,011,596 120,550 167,949 317,745 145,009 333,639 44,312 33,165 49,774 149,115 540,991 Depository institutions 3,916,725 84,759 2,107,655 120,549 167,827 316,739 144,885 160,369 44,304 32,416 48,417 147,842 540,965 U.S. Treasury, General Account 673,555 0 673,555 0 0 0 0 0 0 0 0 0 0 Foreign official 27,493 2 27,466 1 3 8 2 2 1 0 0 1 6 Other7 380,848 14 202,920 0 118 998 122 173,268 8 749 1,357 1,273 21 Earnings remittances due to the U.S. Treasury8 3,021 23 1,789 59 106 190 167 160 35 20 40 130 303 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 9,181 -2,020 6,518 285 360 812 601 568 226 348 250 419 814 Total liabilities 7,912,815 174,346 4,158,798 199,188 299,317 524,386 488,916 501,872 112,305 71,635 113,126 371,662 897,265 Capital Capital paid in 32,727 1,472 10,986 1,167 2,921 6,756 1,486 1,275 613 167 361 709 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 7,952,327 176,126 4,172,064 200,599 302,824 532,554 490,709 503,413 113,048 71,859 113,560 372,493 903,078 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 9, 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 9, 2021 Federal Reserve notes outstanding 2,311,615 Less: Notes held by F.R. Banks not subject to collateralization 180,836 Federal Reserve notes to be collateralized 2,130,778 Collateral held against Federal Reserve notes 2,130,778 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,114,542 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,376,508 Less: Face value of securities under reverse repurchase agreements 682,197 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,694,311 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.