H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern Time August 5, 2021 In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was estimated based upon the Main Street Lending Program holdings as of June 30, 2021.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 5, 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 Aug 4, 2021 Federal Reserve Banks Aug 4, 2021 Jul 28, 2021 Aug 5, 2020 Reserve Bank credit 8,188,664 - 10,805 +1,286,399 8,196,062 Securities held outright1 7,657,197 - 8,448 +1,422,297 7,664,767 U.S. Treasury securities 5,270,064 + 13,095 + 970,967 5,277,635 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,537,347 + 10,432 + 871,961 4,543,634 Notes and bonds, inflation-indexed2 349,285 + 1,770 + 77,236 350,142 Inflation compensation3 57,388 + 893 + 21,770 57,815 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,384,785 - 21,544 + 451,329 2,384,785 Unamortized premiums on securities held outright5 352,658 - 581 + 31,316 352,788 Unamortized discounts on securities held outright5 -14,675 - 59 - 9,680 -14,738 Repurchase agreements6 0 0 0 0 Foreign official 0 0 0 0 Others 0 0 0 0 Loans 84,631 - 1,638 - 3,181 83,925 Primary credit 337 - 77 - 3,192 268 Secondary credit 1 + 1 + 1 0 Seasonal credit 14 - 2 - 20 17 Primary Dealer Credit Facility 0 0 - 1,191 0 Money Market Mutual Fund Liquidity Facility 0 0 - 13,133 0 Paycheck Protection Program Liquidity Facility 84,279 - 1,560 + 14,356 83,640 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 8,861 0 Net portfolio holdings of Corporate Credit Facilities LLC7 22,657 + 8 - 21,623 22,659 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,545 + 105 - 7,049 30,567 Net portfolio holdings of Municipal Liquidity Facility LLC7 9,762 + 2 - 6,324 9,763 Net portfolio holdings of TALF II LLC7 4,538 - 152 - 5,585 4,513 Float -324 - 121 + 96 -96 Central bank liquidity swaps8 478 + 2 - 106,488 478 Other Federal Reserve assets9 41,197 + 77 + 1,482 41,438 Foreign currency denominated assets10 21,361 + 163 - 316 21,317 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,782 + 14 + 483 50,782 Total factors supplying reserve funds 8,277,048 - 10,627 +1,286,567 8,284,402 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 Aug 4, 2021 Federal Reserve Banks Aug 4, 2021 Jul 28, 2021 Aug 5, 2020 Currency in circulation11 2,187,134 + 1,936 + 190,508 2,188,604 Reverse repurchase agreements12 1,260,094 + 104,331 +1,040,309 1,216,357 Foreign official and international accounts 278,954 + 25,156 + 59,278 284,602 Others 981,140 + 79,174 + 981,031 931,755 Treasury cash holdings 48 - 2 0 46 Deposits with F.R. Banks, other than reserve balances 734,112 - 138,911 -1,164,630 742,972 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 492,668 - 85,536 -1,252,560 505,871 Foreign official 6,111 - 13 - 10,117 7,176 Other13 235,333 - 53,363 + 98,047 229,925 Treasury contributions to credit facilities14 40,278 0 - 73,722 40,278 Other liabilities and capital15 49,804 + 813 + 1,811 50,252 Total factors, other than reserve balances, absorbing reserve funds 4,271,470 - 31,834 - 5,724 4,238,510 Reserve balances with Federal Reserve Banks 4,005,578 + 21,207 +1,292,291 4,045,893 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 Aug 4, 2021 Aug 4, 2021 Jul 28, 2021 Aug 5, 2020 Securities held in custody for foreign official and international accounts 3,507,805 - 6,599 + 99,246 3,496,471 Marketable U.S. Treasury securities1 3,073,505 - 5,626 + 110,312 3,061,445 Federal agency debt and mortgage-backed securities2 344,019 - 1,333 - 15,185 344,037 Other securities3 90,282 + 362 + 4,120 90,988 Securities lent to dealers 28,675 + 1,908 + 594 32,058 Overnight facility4 28,675 + 1,908 + 594 32,058 U.S. Treasury securities 28,675 + 1,908 + 594 32,058 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, August 4, 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 83 201 10,875 72,765 0 ... 83,925 U.S. Treasury securities2 Holdings 112,640 249,075 682,163 2,038,269 960,016 1,235,472 5,277,635 Weekly changes + 33,734 - 33,877 + 5,756 + 3,544 - 2,145 + 6,883 + 13,895 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 18 1,818 64,221 2,318,728 2,384,785 Weekly changes 0 0 + 4 + 36 + 699 - 733 + 6 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 16,152 ... ... 16,152 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 4,373 ... ... 4,373 Loans held by TALF II LLC7 0 0 0 1,479 ... ... 1,479 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 203 275 0 0 0 0 478 Reverse repurchase agreements8 1,216,357 0 ... ... ... ... 1,216,357 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 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 the loan participations held by the MS Facilities LLC. 6. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 7. Book value of the loans held by the TALF II LLC. 8. Cash value of agreements. 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.

H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Wednesday Account name Aug 4, 2021 Mortgage-backed securities held outright1 2,384,785 Residential mortgage-backed securities 2,375,073 Commercial mortgage-backed securities 9,713 Commitments to buy mortgage-backed securities2 151,222 Commitments to sell mortgage-backed securities2 0 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 Aug 4, 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 Corporate Credit Facilities LLC 10,333 3,894 18,764 22,659 MS Facilities LLC (Main Street Lending Program) 16,097 13,607 16,960 30,567 Municipal Liquidity Facility LLC 4,373 4,373 5,390 9,763 TALF II LLC 1,482 1,479 3,034 4,513 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 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. b. 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 June 30, 2021. c. 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. d. 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: 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 Aug 4, 2021 Jul 28, 2021 Aug 5, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,253 + 2 - 280 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,086,741 + 12,488 +1,444,480 Securities held outright1 7,664,767 + 13,901 +1,423,303 U.S. Treasury securities 5,277,635 + 13,895 + 971,984 Bills2 326,044 0 0 Notes and bonds, nominal2 4,543,634 + 11,803 + 873,199 Notes and bonds, inflation-indexed2 350,142 + 1,199 + 76,836 Inflation compensation3 57,815 + 893 + 21,949 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,384,785 + 6 + 451,319 Unamortized premiums on securities held outright5 352,788 + 239 + 31,119 Unamortized discounts on securities held outright5 -14,738 - 89 - 9,790 Repurchase agreements6 0 0 0 Loans7 83,925 - 1,562 - 151 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,646 Net portfolio holdings of Corporate Credit Facilities LLC8 22,659 + 5 - 21,692 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,567 + 122 - 7,034 Net portfolio holdings of Municipal Liquidity Facility LLC8 9,763 + 2 - 6,324 Net portfolio holdings of TALF II LLC8 4,513 - 177 - 5,610 Items in process of collection (0) 108 + 30 + 49 Bank premises 1,677 - 89 - 515 Central bank liquidity swaps9 478 + 2 - 105,185 Foreign currency denominated assets10 21,317 + 81 - 429 Other assets11 39,760 + 1,134 + 1,022 Total assets (0) 8,235,073 + 13,600 +1,289,836 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 Aug 4, 2021 Jul 28, 2021 Aug 5, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,139,117 + 2,234 + 187,122 Reverse repurchase agreements12 1,216,357 - 3,776 +1,003,909 Deposits (0) 4,788,865 + 13,550 + 171,184 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 4,045,893 + 44,832 +1,292,362 U.S. Treasury, General Account 505,871 - 31,095 -1,200,766 Foreign official 7,176 + 982 - 9,052 Other13 (0) 229,925 - 1,169 + 88,641 Deferred availability cash items (0) 204 - 687 - 88 Treasury contributions to credit facilities14 40,278 0 - 73,722 Other liabilities and accrued dividends15 10,555 + 2,181 + 609 Total liabilities (0) 8,195,376 + 13,501 +1,289,014 Capital accounts Capital paid in 32,912 + 98 + 861 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 39,697 + 98 + 821 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, August 4, 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 1,253 20 24 115 58 181 117 233 16 31 87 145 226 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,086,741 133,841 4,534,370 172,525 307,022 537,640 469,611 437,428 105,152 88,460 108,051 354,909 837,733 Net portfolio holdings of Corporate Credit Facilities LLC2 22,659 0 22,659 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 30,567 30,567 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 9,763 0 9,763 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 4,513 0 4,513 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 478 22 161 17 41 100 22 19 9 4 5 9 70 Foreign currency denominated assets4 21,317 968 7,166 765 1,843 4,436 964 835 405 181 231 384 3,139 Other assets5 41,546 784 22,029 975 1,576 3,048 2,595 2,294 701 512 867 1,937 4,227 Interdistrict settlement account 0 + 24,439- 383,289+ 14,851+ 9,664+ 5,285+ 55,437+ 96,173+ 15,286- 9,557+ 15,175+ 43,894 + 112,643 Total assets 8,235,073 191,171 4,222,816 189,771 320,957 551,876 530,933 538,117 122,046 79,904 124,870 402,498 960,113 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, August 4, 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 2,139,117 66,531 692,806 63,760 103,455 155,432 305,780 126,877 57,935 32,786 53,202 195,778 284,776 Reverse repurchase agreements6 1,216,357 20,326 687,553 25,690 44,258 81,506 71,269 66,377 15,858 9,412 16,152 53,789 124,166 Deposits 4,788,865 87,788 2,798,429 98,498 169,304 305,858 151,328 342,652 47,239 37,146 54,809 151,481 544,333 Depository institutions 4,045,893 87,778 2,238,307 98,496 169,261 305,297 151,194 161,837 47,230 36,902 53,999 151,285 544,306 U.S. Treasury, General Account 505,871 0 505,871 0 0 0 0 0 0 0 0 0 0 Foreign official 7,176 2 7,149 1 3 8 2 2 1 0 0 1 6 Other7 229,925 8 47,101 0 40 553 132 180,813 8 243 810 194 21 Earnings remittances due to the U.S. Treasury8 3,002 72 1,700 64 107 153 191 152 56 34 32 133 307 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 7,757 -1,884 5,333 260 324 759 597 519 215 302 239 379 714 Total liabilities 8,195,376 189,406 4,209,527 188,272 317,449 543,708 529,165 536,577 121,303 79,679 124,435 401,560 954,296 Capital Capital paid in 32,912 1,457 11,009 1,256 2,922 6,756 1,461 1,275 614 167 362 816 4,818 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 8,235,073 191,171 4,222,816 189,771 320,957 551,876 530,933 538,117 122,046 79,904 124,870 402,498 960,113 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, August 4, 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 Aug 4, 2021 Federal Reserve notes outstanding 2,354,907 Less: Notes held by F.R. Banks not subject to collateralization 215,790 Federal Reserve notes to be collateralized 2,139,117 Collateral held against Federal Reserve notes 2,139,117 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,122,880 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,664,767 Less: Face value of securities under reverse repurchase agreements 1,140,775 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,523,992 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.