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 17, 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 16, 2021 Federal Reserve Banks Jun 16, 2021 Jun 9, 2021 Jun 17, 2020 Reserve Bank credit 7,964,723 + 59,338 + 879,556 8,025,033 Securities held outright1 7,425,364 + 54,198 +1,346,739 7,484,242 U.S. Treasury securities 5,141,849 + 17,300 + 978,579 5,153,771 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,416,857 + 14,404 + 878,632 4,427,372 Notes and bonds, inflation-indexed2 346,229 + 1,886 + 83,535 347,259 Inflation compensation3 52,719 + 1,009 + 16,412 53,096 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,281,168 + 36,898 + 368,160 2,328,124 Unamortized premiums on securities held outright5 350,516 + 1,132 + 40,163 351,548 Unamortized discounts on securities held outright5 -13,947 - 207 - 8,539 -13,941 Repurchase agreements6 0 0 - 120,429 0 Foreign official 0 0 0 0 Others 0 0 - 120,429 0 Loans 87,843 + 1,334 - 8,559 87,185 Primary credit 510 + 24 - 7,429 584 Secondary credit 0 0 0 0 Seasonal credit 9 0 - 3 9 Primary Dealer Credit Facility 0 0 - 5,621 0 Money Market Mutual Fund Liquidity Facility 0 0 - 25,604 0 Paycheck Protection Program Liquidity Facility 87,324 + 1,310 + 30,098 86,591 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 8,554 0 - 4,242 8,554 Net portfolio holdings of Corporate Credit Facilities LLC7 25,854 - 52 - 12,256 25,844 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,561 - 8 - 1,314 30,529 Net portfolio holdings of Municipal Liquidity Facility LLC7 10,734 - 83 - 5,344 10,736 Net portfolio holdings of TALF II LLC7 4,762 + 1 + 4,762 4,762 Float -125 - 16 + 104 -95 Central bank liquidity swaps8 500 - 16 - 352,084 500 Other Federal Reserve assets9 34,107 + 3,056 + 554 35,168 Foreign currency denominated assets10 21,596 - 78 + 673 21,589 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,684 + 14 + 442 50,684 Total factors supplying reserve funds 8,053,243 + 59,273 + 880,670 8,113,547 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 16, 2021 Federal Reserve Banks Jun 16, 2021 Jun 9, 2021 Jun 17, 2020 Currency in circulation11 2,178,607 - 1,485 + 221,811 2,178,952 Reverse repurchase agreements12 761,281 + 50,771 + 528,316 743,760 Foreign official and international accounts 219,458 - 3,112 - 12,882 222,818 Others 541,823 + 53,883 + 541,197 520,942 Treasury cash holdings 43 + 5 - 70 43 Deposits with F.R. Banks, other than reserve balances 1,068,651 - 58,119 - 677,825 1,184,041 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 653,889 - 76,346 - 906,961 765,114 Foreign official 27,160 - 228 + 10,910 26,955 Other13 387,602 + 18,455 + 218,226 391,972 Treasury contributions to credit facilities14 50,278 0 - 56,579 50,278 Other liabilities and capital15 54,345 + 2,435 + 3,470 50,738 Total factors, other than reserve balances, absorbing reserve funds 4,113,205 - 6,394 + 19,123 4,207,812 Reserve balances with Federal Reserve Banks 3,940,038 + 65,667 + 861,547 3,905,735 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 16, 2021 Jun 16, 2021 Jun 9, 2021 Jun 17, 2020 Securities held in custody for foreign official and international accounts 3,538,445 - 9,181 + 119,125 3,536,840 Marketable U.S. Treasury securities1 3,098,501 - 9,394 + 141,768 3,098,053 Federal agency debt and mortgage-backed securities2 350,549 - 59 - 27,024 350,305 Other securities3 89,395 + 272 + 4,381 88,483 Securities lent to dealers 36,383 + 179 + 2,722 31,333 Overnight facility4 36,383 + 179 + 2,722 31,333 U.S. Treasury securities 36,383 + 179 + 2,722 31,333 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 16, 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 359 234 18,430 68,159 2 ... 87,185 U.S. Treasury securities2 Holdings 79,372 292,109 656,183 1,982,040 943,249 1,200,819 5,153,771 Weekly changes + 28,641 - 35,701 + 12,192 + 3,392 + 9,315 + 6,042 + 23,880 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 1,837 66,472 2,259,800 2,328,124 Weekly changes 0 0 0 - 10 - 937 + 84,801 + 83,854 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 16,292 ... ... 16,292 Municipal notes held by Municipal Liquidity Facility LLC7 0 0 0 5,358 ... ... 5,358 Loans held by TALF II LLC8 0 0 0 1,628 ... ... 1,628 Repurchase agreements9 0 0 ... ... ... ... 0 Central bank liquidity swaps10 147 353 0 0 0 0 500 Reverse repurchase agreements9 743,760 0 ... ... ... ... 743,760 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 16, 2021 Mortgage-backed securities held outright1 2,328,124 Residential mortgage-backed securities 2,318,352 Commercial mortgage-backed securities 9,772 Commitments to buy mortgage-backed securities2 162,989 Commitments to sell mortgage-backed securities2 5 Cash and cash equivalents3 924 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 16, 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 12,765 13,079 25,844 MS Facilities LLC (Main Street Lending Program) 16,228 13,634 16,895 30,529 Municipal Liquidity Facility LLC 5,358 5,358 5,378 10,736 TALF II LLC 1,733 1,628 3,134 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 16, 2021 Jun 9, 2021 Jun 17, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,238 - 5 - 193 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,909,034 + 109,129 +1,338,862 Securities held outright1 7,484,242 + 107,734 +1,393,814 U.S. Treasury securities 5,153,771 + 23,880 + 984,431 Bills2 326,044 0 0 Notes and bonds, nominal2 4,427,372 + 21,804 + 884,983 Notes and bonds, inflation-indexed2 347,259 + 1,201 + 82,707 Inflation compensation3 53,096 + 875 + 16,740 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,328,124 + 83,854 + 409,383 Unamortized premiums on securities held outright5 351,548 + 1,868 + 40,522 Unamortized discounts on securities held outright5 -13,941 - 78 - 8,575 Repurchase agreements6 0 0 - 79,053 Loans7 87,185 - 395 - 7,846 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 8,554 0 - 4,243 Net portfolio holdings of Corporate Credit Facilities LLC8 25,844 - 12 - 13,072 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,529 - 47 - 1,347 Net portfolio holdings of Municipal Liquidity Facility LLC8 10,736 + 2 - 5,343 Net portfolio holdings of TALF II LLC8 4,762 0 + 4,762 Items in process of collection (0) 63 + 13 + 12 Bank premises 1,917 - 1 - 285 Central bank liquidity swaps9 500 - 16 - 351,970 Foreign currency denominated assets10 21,589 - 93 + 723 Other assets11 33,252 + 2,957 + 1,658 Total assets (0) 8,064,257 + 111,930 + 969,567 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 16, 2021 Jun 9, 2021 Jun 17, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,129,545 - 1,233 + 218,659 Reverse repurchase agreements12 743,760 + 22,824 + 518,298 Deposits (0) 5,089,778 + 91,158 + 294,148 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,905,736 - 10,989 + 836,297 U.S. Treasury, General Account 765,114 + 91,559 - 800,192 Foreign official 26,955 - 538 + 10,708 Other13 (0) 391,972 + 11,124 + 247,335 Deferred availability cash items (0) 158 - 24 - 110 Treasury contributions to credit facilities14 50,278 0 - 63,722 Other liabilities and accrued dividends15 11,135 - 885 + 1,604 Total liabilities (0) 8,024,654 + 111,839 + 968,878 Capital accounts Capital paid in 32,818 + 91 + 728 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 39,603 + 91 + 688 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 16, 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 1,238 18 28 109 56 178 112 229 15 34 86 145 229 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,909,034 130,887 4,432,926 169,834 299,088 526,445 459,418 427,821 103,175 84,368 107,093 347,005 820,975 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 25,844 0 25,844 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 30,529 30,529 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 10,736 0 10,736 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 500 23 168 18 43 104 23 20 10 4 5 9 74 Foreign currency denominated assets4 21,589 980 7,257 775 1,867 4,493 976 846 410 184 234 389 3,179 Other assets5 35,232 673 18,380 839 1,327 2,623 2,173 1,942 734 424 774 1,770 3,574 Interdistrict settlement account 0 + 7,636- 212,378+ 29,959+ 15- 23,136+ 31,263+ 72,657+ 10,723- 12,488+ 8,147+ 23,278 + 64,324 Total assets 8,064,257 171,276 4,301,700 202,057 303,147 511,893 496,153 504,651 115,541 72,798 116,793 373,815 894,431 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 16, 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 2,129,545 62,938 697,964 63,420 104,362 157,081 300,173 127,419 58,194 32,348 53,449 191,379 280,819 Reverse repurchase agreements6 743,760 12,429 420,415 15,709 27,063 49,838 43,579 40,587 9,697 5,755 9,877 32,890 75,923 Deposits 5,089,778 79,508 3,129,460 121,058 167,710 295,744 149,764 334,307 46,636 34,115 52,728 148,109 530,639 Depository institutions 3,905,736 79,491 2,123,723 121,057 167,349 294,907 149,646 161,858 46,626 33,424 50,150 146,894 530,612 U.S. Treasury, General Account 765,114 0 765,114 0 0 0 0 0 0 0 0 0 0 Foreign official 26,955 2 26,929 1 3 8 2 2 1 0 0 1 6 Other7 391,972 16 213,695 0 357 828 116 172,447 9 691 2,577 1,215 21 Earnings remittances due to the U.S. Treasury8 2,707 40 1,583 54 94 146 165 145 33 19 33 122 272 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 8,586 -1,991 5,305 315 411 917 679 652 240 337 273 483 964 Total liabilities 8,024,654 169,496 4,288,434 200,557 299,640 503,725 494,360 503,110 114,799 72,573 116,359 372,984 888,617 Capital Capital paid in 32,818 1,472 10,986 1,257 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 8,064,257 171,276 4,301,700 202,057 303,147 511,893 496,153 504,651 115,541 72,798 116,793 373,815 894,431 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 16, 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 16, 2021 Federal Reserve notes outstanding 2,317,807 Less: Notes held by F.R. Banks not subject to collateralization 188,262 Federal Reserve notes to be collateralized 2,129,545 Collateral held against Federal Reserve notes 2,129,545 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,113,308 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,484,242 Less: Face value of securities under reverse repurchase agreements 712,150 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,772,093 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.