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 July 8, 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 Jul 7, 2021 Federal Reserve Banks Jul 7, 2021 Jun 30, 2021 Jul 8, 2020 Reserve Bank credit 8,047,806 + 8,317 +1,132,521 8,058,899 Securities held outright1 7,512,568 + 9,829 +1,378,094 7,523,709 U.S. Treasury securities 5,190,583 + 14,740 + 969,856 5,201,725 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,456,035 + 10,692 + 867,390 4,466,950 Notes and bonds, inflation-indexed2 352,886 + 3,110 + 82,680 352,886 Inflation compensation3 55,619 + 939 + 19,787 55,845 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,319,637 - 4,912 + 408,236 2,319,637 Unamortized premiums on securities held outright5 351,498 + 239 + 36,846 351,432 Unamortized discounts on securities held outright5 -14,357 - 163 - 9,039 -14,349 Repurchase agreements6 0 0 - 41,286 0 Foreign official 0 0 - 143 0 Others 0 0 - 41,143 0 Loans 89,838 - 1,156 - 5,456 88,802 Primary credit 391 - 69 - 4,928 406 Secondary credit 0 0 0 0 Seasonal credit 20 0 + 1 20 Primary Dealer Credit Facility 0 0 - 2,276 0 Money Market Mutual Fund Liquidity Facility 0 0 - 19,624 0 Paycheck Protection Program Liquidity Facility 89,427 - 1,087 + 21,370 88,376 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 - 1,250 - 12,800 0 Net portfolio holdings of Corporate Credit Facilities LLC7 25,906 + 38 - 16,407 25,931 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,548 + 9 - 6,954 30,555 Net portfolio holdings of Municipal Liquidity Facility LLC7 10,740 + 2 - 5,341 10,742 Net portfolio holdings of TALF II LLC7 4,689 - 63 - 4,064 4,689 Float -123 + 200 + 85 -100 Central bank liquidity swaps8 521 - 56 - 181,556 521 Other Federal Reserve assets9 35,978 + 688 + 400 36,967 Foreign currency denominated assets10 21,202 - 105 + 299 21,189 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,726 + 14 + 461 50,726 Total factors supplying reserve funds 8,135,974 + 8,224 +1,133,281 8,147,055 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 Jul 7, 2021 Federal Reserve Banks Jul 7, 2021 Jun 30, 2021 Jul 8, 2020 Currency in circulation11 2,186,896 + 6,260 + 212,206 2,188,852 Reverse repurchase agreements12 1,008,251 - 65,635 + 780,136 1,049,332 Foreign official and international accounts 261,542 + 10,762 + 33,428 263,612 Others 746,709 - 76,397 + 746,708 785,720 Treasury cash holdings 42 0 - 19 45 Deposits with F.R. Banks, other than reserve balances 979,641 - 16,249 - 844,767 961,876 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 753,364 + 7,402 - 899,734 724,898 Foreign official 5,263 - 1,509 - 11,856 5,230 Other13 221,014 - 22,142 + 66,823 231,748 Treasury contributions to credit facilities14 40,278 - 7,143 - 73,722 40,278 Other liabilities and capital15 50,297 + 1,213 + 2,845 50,469 Total factors, other than reserve balances, absorbing reserve funds 4,265,405 - 81,554 + 76,678 4,290,852 Reserve balances with Federal Reserve Banks 3,870,568 + 89,777 +1,056,601 3,856,203 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. 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 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 Jul 7, 2021 Jul 7, 2021 Jun 30, 2021 Jul 8, 2020 Securities held in custody for foreign official and international accounts 3,528,385 + 5,803 + 125,707 3,530,555 Marketable U.S. Treasury securities1 3,087,536 + 5,915 + 138,214 3,089,768 Federal agency debt and mortgage-backed securities2 351,761 - 193 - 16,878 351,588 Other securities3 89,088 + 81 + 4,371 89,199 Securities lent to dealers 37,569 - 2,706 + 5,434 34,395 Overnight facility4 37,569 - 2,706 + 5,434 34,395 U.S. Treasury securities 37,569 - 2,706 + 5,434 34,395 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, July 7, 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 202 224 13,942 74,427 7 ... 88,802 U.S. Treasury securities2 Holdings 76,653 295,430 658,430 2,002,523 954,433 1,214,256 5,201,725 Weekly changes - 2,472 + 28,299 - 19,949 + 6,814 + 3,461 + 2,188 + 18,340 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 16 1,880 65,494 2,252,246 2,319,637 Weekly changes 0 0 + 3 + 122 + 284 - 411 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 16,191 ... ... 16,191 Municipal notes held by Municipal Liquidity Facility LLC7 0 0 0 4,373 ... ... 4,373 Loans held by TALF II LLC8 0 0 0 1,622 ... ... 1,622 Repurchase agreements9 0 0 ... ... ... ... 0 Central bank liquidity swaps10 178 343 0 0 0 0 521 Reverse repurchase agreements9 1,049,332 0 ... ... ... ... 1,049,332 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 Jul 7, 2021 Mortgage-backed securities held outright1 2,319,637 Residential mortgage-backed securities 2,309,868 Commercial mortgage-backed securities 9,770 Commitments to buy mortgage-backed securities2 183,074 Commitments to sell mortgage-backed securities2 168 Cash and cash equivalents3 0 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 Jul 7, 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 0 0 Corporate Credit Facilities LLC 13,609 9,451 16,480 25,931 MS Facilities LLC (Main Street Lending Program) 16,228 13,533 17,022 30,555 Municipal Liquidity Facility LLC 5,358 4,373 6,369 10,742 TALF II LLC 1,660 1,622 3,067 4,689 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 and corporate bonds at fair 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 Jul 7, 2021 Jun 30, 2021 Jul 8, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,235 + 2 - 262 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,949,594 + 16,009 +1,401,185 Securities held outright1 7,523,709 + 18,340 +1,378,606 U.S. Treasury securities 5,201,725 + 18,340 + 970,370 Bills2 326,044 0 0 Notes and bonds, nominal2 4,466,950 + 17,601 + 867,677 Notes and bonds, inflation-indexed2 352,886 0 + 82,680 Inflation compensation3 55,845 + 738 + 20,012 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,319,637 0 + 408,236 Unamortized premiums on securities held outright5 351,432 + 30 + 36,181 Unamortized discounts on securities held outright5 -14,349 - 37 - 9,050 Repurchase agreements6 0 0 0 Loans7 88,802 - 2,324 - 4,553 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 12,802 Net portfolio holdings of Corporate Credit Facilities LLC8 25,931 + 29 - 16,713 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,555 + 8 - 6,948 Net portfolio holdings of Municipal Liquidity Facility LLC8 10,742 + 2 - 5,340 Net portfolio holdings of TALF II LLC8 4,689 0 - 4,064 Items in process of collection (0) 113 + 47 + 62 Bank premises 1,880 - 49 - 316 Central bank liquidity swaps9 521 - 47 - 178,574 Foreign currency denominated assets10 21,189 - 32 + 216 Other assets11 35,088 + 3,261 + 615 Total assets (0) 8,097,773 + 19,229 +1,177,057 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 Jul 7, 2021 Jun 30, 2021 Jul 8, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,139,402 + 5,263 + 210,927 Reverse repurchase agreements12 1,049,332 - 211,593 + 824,472 Deposits (0) 4,818,079 + 224,264 + 213,213 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,856,203 + 344,573 +1,042,907 U.S. Treasury, General Account 724,898 - 127,031 - 899,506 Foreign official 5,230 - 25 - 11,002 Other13 (0) 231,748 + 6,746 + 80,814 Deferred availability cash items (0) 213 - 915 - 53 Treasury contributions to credit facilities14 40,278 0 - 73,722 Other liabilities and accrued dividends15 10,865 + 2,211 + 1,378 Total liabilities (0) 8,058,170 + 19,230 +1,176,215 Capital accounts Capital paid in 32,818 - 1 + 882 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 39,603 - 1 + 842 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. 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 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, July 7, 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 1,235 19 25 111 54 182 112 232 14 32 85 145 225 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,949,594 131,503 4,454,821 170,256 301,889 528,206 461,487 429,825 103,535 88,426 106,461 348,709 824,477 Net portfolio holdings of Commercial Paper Funding Facility II LLC2 0 0 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC2 25,931 0 25,931 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 30,555 30,555 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 10,742 0 10,742 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 4,689 0 4,689 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 521 24 175 19 45 108 24 20 10 4 6 9 77 Foreign currency denominated assets4 21,189 962 7,122 761 1,832 4,409 958 830 403 180 229 382 3,120 Other assets5 37,081 708 19,504 885 1,407 2,764 2,341 2,057 624 467 805 1,741 3,777 Interdistrict settlement account 0 - 4,228- 299,092+ 23,631+ 10,754- 3,421+ 42,811+ 77,640+ 10,640- 13,977+ 12,503+ 34,262 + 108,476 Total assets 8,097,773 160,073 4,229,339 196,184 316,733 533,437 509,921 511,741 115,702 75,405 120,544 386,468 942,227 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, July 7, 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 2,139,402 65,109 698,722 63,597 104,766 157,159 301,165 128,017 57,586 32,487 53,744 194,500 282,550 Reverse repurchase agreements6 1,049,332 17,535 593,141 22,163 38,181 70,314 61,483 57,262 13,681 8,119 13,934 46,403 107,116 Deposits 4,818,079 61,064 2,892,984 108,603 169,854 296,856 144,725 324,239 43,444 34,215 52,160 144,219 545,714 Depository institutions 3,856,203 61,046 2,107,255 108,602 169,809 296,157 144,590 151,953 43,435 33,565 50,098 144,004 545,688 U.S. Treasury, General Account 724,898 0 724,898 0 0 0 0 0 0 0 0 0 0 Foreign official 5,230 2 5,204 1 3 8 2 2 1 0 0 1 6 Other7 231,748 16 55,628 0 41 691 133 172,284 9 650 2,061 215 20 Earnings remittances due to the U.S. Treasury8 2,797 36 1,675 52 92 162 158 146 32 19 33 122 271 Treasury contributions to credit facilities9 40,278 16,572 23,706 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 8,281 -2,008 5,843 269 332 778 597 535 216 340 239 393 747 Total liabilities 8,058,170 158,308 4,216,073 194,684 313,225 525,269 508,127 510,200 114,959 75,181 120,109 385,637 936,398 Capital Capital paid in 32,818 1,457 10,987 1,256 2,921 6,756 1,486 1,275 613 167 361 709 4,830 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 8,097,773 160,073 4,229,339 196,184 316,733 533,437 509,921 511,741 115,702 75,405 120,544 386,468 942,227 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, July 7, 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. 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 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 Jul 7, 2021 Federal Reserve notes outstanding 2,332,317 Less: Notes held by F.R. Banks not subject to collateralization 192,915 Federal Reserve notes to be collateralized 2,139,402 Collateral held against Federal Reserve notes 2,139,402 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,123,165 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,523,709 Less: Face value of securities under reverse repurchase agreements 1,044,276 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,479,433 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.