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 August 19, 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 18, 2021 Federal Reserve Banks Aug 18, 2021 Aug 11, 2021 Aug 19, 2020 Reserve Bank credit 8,298,122 + 93,180 +1,332,817 8,303,796 Securities held outright1 7,775,510 + 98,714 +1,464,842 7,791,636 U.S. Treasury securities 5,313,850 + 24,186 + 984,543 5,323,651 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,576,355 + 21,233 + 885,616 4,584,442 Notes and bonds, inflation-indexed2 352,028 + 1,886 + 76,321 353,344 Inflation compensation3 59,423 + 1,067 + 22,606 59,821 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,459,313 + 74,528 + 480,298 2,465,638 Unamortized premiums on securities held outright5 354,832 + 1,820 + 29,562 354,940 Unamortized discounts on securities held outright5 -14,955 - 157 - 10,027 -15,191 Repurchase agreements6 0 0 0 0 Foreign official 0 0 0 0 Others 0 0 0 0 Loans 81,639 - 1,703 - 858 80,808 Primary credit 293 + 21 - 2,366 291 Secondary credit 0 0 0 0 Seasonal credit 23 + 6 - 18 28 Primary Dealer Credit Facility 0 0 - 693 0 Money Market Mutual Fund Liquidity Facility 0 0 - 11,202 0 Paycheck Protection Program Liquidity Facility 81,323 - 1,730 + 13,420 80,489 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 8,601 0 Net portfolio holdings of Corporate Credit Facilities LLC7 17,114 - 798 - 27,352 17,116 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,556 - 12 - 7,333 30,534 Net portfolio holdings of Municipal Liquidity Facility LLC7 9,765 + 2 - 6,323 9,766 Net portfolio holdings of TALF II LLC7 4,513 0 - 6,257 4,513 Float -120 - 13 + 85 -129 Central bank liquidity swaps8 497 + 13 - 95,325 488 Other Federal Reserve assets9 38,772 - 4,685 + 405 29,315 Foreign currency denominated assets10 21,202 + 34 - 437 21,128 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,810 + 14 + 511 50,810 Total factors supplying reserve funds 8,386,375 + 93,228 +1,332,891 8,391,974 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 18, 2021 Federal Reserve Banks Aug 18, 2021 Aug 11, 2021 Aug 19, 2020 Currency in circulation11 2,187,964 - 655 + 180,506 2,188,089 Reverse repurchase agreements12 1,329,660 + 86,918 +1,115,083 1,385,401 Foreign official and international accounts 265,989 - 7,951 + 51,454 269,745 Others 1,063,670 + 94,868 +1,063,628 1,115,656 Treasury cash holdings 48 + 2 - 8 54 Deposits with F.R. Banks, other than reserve balances 590,843 - 88,456 -1,247,693 567,620 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 338,808 - 96,111 -1,304,697 313,651 Foreign official 7,753 - 168 - 8,850 7,232 Other13 244,282 + 7,823 + 65,854 246,737 Treasury contributions to credit facilities14 40,278 0 - 73,722 40,278 Other liabilities and capital15 50,870 - 785 - 301 48,368 Total factors, other than reserve balances, absorbing reserve funds 4,199,664 - 2,976 - 26,135 4,229,810 Reserve balances with Federal Reserve Banks 4,186,711 + 96,205 +1,359,026 4,162,165 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 18, 2021 Aug 18, 2021 Aug 11, 2021 Aug 19, 2020 Securities held in custody for foreign official and international accounts 3,502,193 + 5,921 + 84,783 3,508,090 Marketable U.S. Treasury securities1 3,068,034 + 6,389 + 96,390 3,074,668 Federal agency debt and mortgage-backed securities2 341,794 - 529 - 18,134 341,163 Other securities3 92,365 + 60 + 6,527 92,260 Securities lent to dealers 30,513 + 150 + 3,150 36,380 Overnight facility4 30,513 + 150 + 3,150 36,380 U.S. Treasury securities 30,513 + 150 + 3,150 36,380 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 18, 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 107 212 9,375 71,114 0 ... 80,808 U.S. Treasury securities2 Holdings 79,791 297,515 696,797 2,021,245 973,108 1,255,194 5,323,651 Weekly changes - 29,185 + 39,101 + 20,106 - 31,083 + 5,121 + 16,097 + 20,156 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 1,812 63,730 2,400,078 2,465,638 Weekly changes 0 0 0 - 6 - 491 + 81,350 + 80,853 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 16,115 ... ... 16,115 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 4,373 ... ... 4,373 Loans held by TALF II LLC7 0 0 0 1,469 ... ... 1,469 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 483 5 0 0 0 0 488 Reverse repurchase agreements8 1,385,401 0 ... ... ... ... 1,385,401 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 18, 2021 Mortgage-backed securities held outright1 2,465,638 Residential mortgage-backed securities 2,455,980 Commercial mortgage-backed securities 9,658 Commitments to buy mortgage-backed securities2 109,499 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 18, 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 4,803 1,595 15,521 17,116 MS Facilities LLC (Main Street Lending Program) 16,050 13,570 16,964 30,534 Municipal Liquidity Facility LLC 4,373 4,373 5,393 9,766 TALF II LLC 1,482 1,469 3,044 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 18, 2021 Aug 11, 2021 Aug 19, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,239 - 11 - 257 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,212,192 + 100,833 +1,483,383 Securities held outright1 7,791,636 + 101,009 +1,465,848 U.S. Treasury securities 5,323,651 + 20,156 + 978,107 Bills2 326,044 0 0 Notes and bonds, nominal2 4,584,442 + 15,803 + 877,607 Notes and bonds, inflation-indexed2 353,344 + 3,202 + 77,637 Inflation compensation3 59,821 + 1,151 + 22,863 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,465,638 + 80,853 + 487,741 Unamortized premiums on securities held outright5 354,940 + 1,905 + 29,046 Unamortized discounts on securities held outright5 -15,191 - 388 - 10,128 Repurchase agreements6 0 0 0 Loans7 80,808 - 1,692 - 1,382 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,588 Net portfolio holdings of Corporate Credit Facilities LLC8 17,116 + 2 - 27,364 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,534 - 41 - 7,449 Net portfolio holdings of Municipal Liquidity Facility LLC8 9,766 + 2 - 6,323 Net portfolio holdings of TALF II LLC8 4,513 0 - 6,258 Items in process of collection (0) 70 - 6 + 24 Bank premises 1,663 - 2 - 534 Central bank liquidity swaps9 488 - 4 - 95,292 Foreign currency denominated assets10 21,128 + 4 - 594 Other assets11 27,652 - 15,336 + 1,212 Total assets (0) 8,342,598 + 85,439 +1,331,961 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 18, 2021 Aug 11, 2021 Aug 19, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,138,568 - 1,247 + 177,760 Reverse repurchase agreements12 1,385,401 + 117,403 +1,174,059 Deposits (0) 4,729,785 - 29,035 + 53,626 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 4,162,165 + 34,875 +1,340,312 U.S. Treasury, General Account 313,651 - 76,096 -1,322,742 Foreign official 7,232 - 399 - 9,378 Other13 (0) 246,737 + 12,586 + 45,433 Deferred availability cash items (0) 199 - 32 - 92 Treasury contributions to credit facilities14 40,278 0 - 73,722 Other liabilities and accrued dividends15 8,626 - 1,656 - 534 Total liabilities (0) 8,302,856 + 85,431 +1,331,096 Capital accounts Capital paid in 32,957 + 8 + 905 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 39,742 + 8 + 865 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 18, 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 1,239 17 23 114 57 180 113 234 15 30 87 144 225 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,212,192 135,965 4,606,452 174,983 311,535 546,148 477,116 444,366 106,798 88,768 109,577 360,541 849,943 Net portfolio holdings of Corporate Credit Facilities LLC2 17,116 0 17,116 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 30,534 30,534 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 9,766 0 9,766 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 488 22 164 18 42 102 22 19 9 4 5 9 72 Foreign currency denominated assets4 21,128 959 7,101 759 1,827 4,397 956 828 402 180 229 381 3,111 Other assets5 29,385 581 15,180 720 1,144 2,240 1,849 1,633 542 395 706 1,401 2,993 Interdistrict settlement account 0+ 22,764- 452,305+ 12,616+ 28,536+ 32,755+ 59,281+ 101,333+ 15,951- 7,946+ 18,495+ 48,093 + 120,428 Total assets 8,342,598 191,373 4,213,432 189,733 343,893 587,008 541,525 549,549 124,192 81,704 129,554 411,789 978,846 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 18, 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 2,138,568 69,407 690,513 63,433 102,640 155,069 306,884 125,239 57,904 33,044 55,187 196,041 283,206 Reverse repurchase agreements6 1,385,401 23,151 783,106 29,261 50,409 92,833 81,174 75,602 18,062 10,720 18,397 61,265 141,422 Deposits 4,729,785 82,303 2,697,687 95,218 186,908 330,012 150,938 346,483 47,236 37,357 55,254 153,022 547,366 Depository institutions 4,162,165 82,293 2,310,483 95,217 186,861 329,484 150,804 168,124 47,217 37,158 54,425 152,760 547,339 U.S. Treasury, General Account 313,651 0 313,651 0 0 0 0 0 0 0 0 0 0 Foreign official 7,232 2 7,205 1 3 8 2 2 1 0 0 1 6 Other7 246,737 9 66,347 0 43 520 131 178,358 19 199 829 261 21 Earnings remittances due to the U.S. Treasury8 2,835 40 1,640 56 97 161 173 162 33 25 41 132 276 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 5,989 -1,865 3,467 265 330 765 588 524 213 333 239 390 741 Total liabilities 8,302,856 189,608 4,200,120 188,234 340,384 578,839 539,756 548,009 123,449 81,479 129,118 410,850 973,010 Capital Capital paid in 32,957 1,457 11,032 1,256 2,922 6,756 1,462 1,275 614 167 362 817 4,837 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 8,342,598 191,373 4,213,432 189,733 343,893 587,008 541,525 549,549 124,192 81,704 129,554 411,789 978,846 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 18, 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 18, 2021 Federal Reserve notes outstanding 2,366,804 Less: Notes held by F.R. Banks not subject to collateralization 228,237 Federal Reserve notes to be collateralized 2,138,568 Collateral held against Federal Reserve notes 2,138,568 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,122,331 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,791,636 Less: Face value of securities under reverse repurchase agreements 1,315,417 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,476,219 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.