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 November 18, 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 Nov 17, 2021 Federal Reserve Banks Nov 17, 2021 Nov 10, 2021 Nov 18, 2020 Reserve Bank credit 8,626,528 + 68,070 +1,436,638 8,636,972 Securities held outright1 8,157,788 + 74,157 +1,542,688 8,179,303 U.S. Treasury securities 5,559,516 + 15,419 + 993,994 5,573,525 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,792,349 + 14,059 + 895,005 4,806,255 Notes and bonds, inflation-indexed2 374,042 + 1,028 + 74,480 374,042 Inflation compensation3 67,082 + 334 + 24,509 67,184 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,595,925 + 58,738 + 548,695 2,603,431 Unamortized premiums on securities held outright5 355,601 + 736 + 14,706 355,649 Unamortized discounts on securities held outright5 -16,996 - 273 - 12,231 -17,321 Repurchase agreements6 0 0 - 1,000 0 Foreign official 0 0 - 1,000 0 Others 0 0 0 0 Loans 45,781 - 1,979 - 20,413 44,040 Primary credit 349 + 11 - 1,839 355 Secondary credit 0 0 0 0 Seasonal credit 6 - 4 + 6 5 Primary Dealer Credit Facility 0 0 - 261 0 Money Market Mutual Fund Liquidity Facility 0 0 - 5,387 0 Paycheck Protection Program Liquidity Facility 45,426 - 1,986 - 12,934 43,681 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 8,557 0 Net portfolio holdings of Corporate Credit Facilities LLC7 515 0 - 45,242 515 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 30,494 - 15 - 12,067 30,466 Net portfolio holdings of Municipal Liquidity Facility LLC7 9,785 + 1 - 6,768 9,786 Net portfolio holdings of TALF II LLC7 4,491 + 1 - 7,783 4,491 Float -160 - 36 - 66 -114 Central bank liquidity swaps8 274 - 54 - 7,238 265 Other Federal Reserve assets9 38,954 - 4,470 + 608 29,892 Foreign currency denominated assets10 20,501 - 200 - 1,248 20,379 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,866 + 14 + 443 50,866 Total factors supplying reserve funds 8,714,136 + 67,884 +1,435,833 8,724,458 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 Nov 17, 2021 Federal Reserve Banks Nov 17, 2021 Nov 10, 2021 Nov 18, 2020 Currency in circulation11 2,214,649 + 4,663 + 155,110 2,215,367 Reverse repurchase agreements12 1,737,690 + 62,369 +1,545,456 1,814,292 Foreign official and international accounts 297,680 - 7,510 + 105,464 294,292 Others 1,440,009 + 69,878 +1,439,991 1,520,000 Treasury cash holdings 62 + 12 + 10 60 Deposits with F.R. Banks, other than reserve balances 473,587 - 39,986 -1,341,917 430,325 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 211,453 - 47,840 -1,345,439 178,972 Foreign official 7,008 + 1,390 - 14,277 7,768 Other13 255,126 + 6,464 + 17,799 243,585 Treasury contributions to credit facilities14 26,397 0 - 87,603 26,397 Other liabilities and capital15 51,950 + 66 - 1,202 49,180 Total factors, other than reserve balances, absorbing reserve funds 4,504,334 + 27,123 + 269,852 4,535,621 Reserve balances with Federal Reserve Banks 4,209,802 + 40,761 +1,165,980 4,188,837 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 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 Nov 17, 2021 Nov 17, 2021 Nov 10, 2021 Nov 18, 2020 Securities held in custody for foreign official and international accounts 3,467,890 - 12,119 + 26,047 3,473,619 Marketable U.S. Treasury securities1 3,056,185 - 12,287 + 60,852 3,061,844 Federal agency debt and mortgage-backed securities2 328,662 + 98 - 32,653 328,671 Other securities3 83,043 + 70 - 2,151 83,103 Securities lent to dealers 41,754 + 4,891 + 12,011 40,366 Overnight facility4 41,754 + 4,891 + 12,011 40,366 U.S. Treasury securities 41,754 + 4,891 + 12,011 40,366 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, November 17, 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 146 214 2,441 41,240 0 ... 44,040 U.S. Treasury securities2 Holdings 77,857 315,439 715,588 2,127,892 1,008,848 1,327,901 5,573,525 Weekly changes - 32,240 + 29,761 + 8,240 - 4,064 + 3,297 + 15,923 + 20,918 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 27 1,672 62,713 2,539,018 2,603,431 Weekly changes 0 0 0 - 5 - 267 + 10,337 + 10,065 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 15,823 ... ... 15,823 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 4,228 ... ... 4,228 Loans held by TALF II LLC7 0 0 0 1,368 ... ... 1,368 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 215 50 0 0 0 0 265 Reverse repurchase agreements8 1,814,292 0 ... ... ... ... 1,814,292 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 Paycheck Protection Program Liquidity Facility and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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 Nov 17, 2021 Mortgage-backed securities held outright1 2,603,431 Residential mortgage-backed securities 2,594,065 Commercial mortgage-backed securities 9,366 Commitments to buy mortgage-backed securities2 90,445 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 40 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 Nov 17, 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 0 0 515 515 MS Facilities LLC (Main Street Lending Program) 15,684 13,493 16,973 30,466 Municipal Liquidity Facility LLC 4,373 4,228 5,559 9,786 TALF II LLC 1,456 1,368 3,123 4,491 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. 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 September 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 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 Nov 17, 2021 Nov 10, 2021 Nov 18, 2020 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,199 - 5 - 305 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,561,671 + 27,379 +1,520,997 Securities held outright1 8,179,303 + 30,983 +1,541,357 U.S. Treasury securities 5,573,525 + 20,918 + 989,102 Bills2 326,044 0 0 Notes and bonds, nominal2 4,806,255 + 20,679 + 890,051 Notes and bonds, inflation-indexed2 374,042 0 + 74,480 Inflation compensation3 67,184 + 239 + 24,571 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,603,431 + 10,065 + 552,255 Unamortized premiums on securities held outright5 355,649 - 159 + 14,193 Unamortized discounts on securities held outright5 -17,321 - 554 - 12,406 Repurchase agreements6 0 0 - 1,000 Loans7 44,040 - 2,890 - 21,147 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,557 Net portfolio holdings of Corporate Credit Facilities LLC8 515 0 - 45,323 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 30,466 - 50 - 12,428 Net portfolio holdings of Municipal Liquidity Facility LLC8 9,786 + 1 - 6,768 Net portfolio holdings of TALF II LLC8 4,491 0 - 7,802 Items in process of collection (0) 69 - 3 + 16 Bank premises 1,462 + 7 - 735 Central bank liquidity swaps9 265 - 63 - 6,876 Foreign currency denominated assets10 20,379 - 243 - 1,471 Other assets11 28,430 - 15,169 + 1,141 Total assets (0) 8,674,970 + 11,853 +1,431,890 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 Nov 17, 2021 Nov 10, 2021 Nov 18, 2020 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,165,755 + 1,474 + 154,366 Reverse repurchase agreements12 1,814,292 + 61,315 +1,624,055 Deposits (0) 4,619,162 - 43,528 - 258,408 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 4,188,837 + 10,251 +1,155,608 U.S. Treasury, General Account 178,972 - 52,449 -1,367,952 Foreign official 7,768 + 1,176 - 13,506 Other13 (0) 243,585 - 2,506 - 32,558 Deferred availability cash items (0) 183 - 88 + 50 Treasury contributions to credit facilities14 26,397 0 - 87,603 Other liabilities and accrued dividends15 8,540 - 8,052 - 1,987 Total liabilities (0) 8,634,330 + 11,122 +1,430,475 Capital accounts Capital paid in 33,855 + 732 + 1,455 Surplus 6,785 0 - 40 Other capital accounts 0 0 0 Total capital 40,640 + 732 + 1,415 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 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, November 17, 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 1,199 12 21 115 45 175 104 227 17 31 86 147 218 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,561,671 142,376 4,820,743 180,074 318,140 571,414 499,357 465,129 111,534 80,595 113,679 377,054 881,575 Net portfolio holdings of Corporate Credit Facilities LLC2 515 0 515 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 30,466 30,466 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 9,786 0 9,786 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 4,491 0 4,491 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 265 12 89 10 23 55 12 10 5 2 3 5 39 Foreign currency denominated assets4 20,379 925 6,850 732 1,762 4,241 922 798 387 173 220 367 3,001 Other assets5 29,961 596 15,488 731 1,160 2,298 1,874 1,662 553 400 714 1,429 3,055 Interdistrict settlement account 0+ 31,453- 501,816+ 8,318+ 49,569+ 24,833+ 78,071+ 120,565+ 27,396+ 339+ 20,568+ 57,393 + 83,311 Total assets 8,674,970 206,370 4,361,590 190,503 371,451 604,203 582,528 589,528 140,368 81,814 135,726 437,616 973,273 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, November 17, 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 2,165,755 71,123 691,960 61,366 103,833 153,629 320,483 121,248 64,571 33,007 55,051 193,212 296,273 Reverse repurchase agreements6 1,814,292 30,318 1,025,539 38,319 66,015 121,572 106,303 99,006 23,654 14,038 24,092 80,231 185,203 Deposits 4,619,162 88,127 2,615,080 89,019 197,316 319,837 153,527 367,107 51,111 34,330 55,894 162,770 485,043 Depository institutions 4,188,837 88,113 2,383,647 89,018 197,240 319,215 153,394 171,179 51,099 34,096 54,349 162,509 484,978 U.S. Treasury, General Account 178,972 0 178,972 0 0 0 0 0 0 0 0 0 0 Foreign official 7,768 2 7,742 1 3 8 2 2 1 0 0 1 6 Other7 243,585 12 44,720 0 72 614 131 195,927 11 233 1,545 261 59 Earnings remittances due to the U.S. Treasury8 1,848 27 1,083 36 57 91 119 100 25 16 24 90 179 Treasury contributions to credit facilities9 26,397 16,572 9,825 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 6,875 -1,564 4,033 263 335 868 680 517 206 194 241 377 725 Total liabilities 8,634,330 204,603 4,347,520 189,003 367,555 595,998 581,113 587,979 139,566 81,586 135,303 436,680 967,423 Capital Capital paid in 33,855 1,459 11,789 1,256 3,310 6,793 1,107 1,284 673 170 349 813 4,850 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 8,674,970 206,370 4,361,590 190,503 371,451 604,203 582,528 589,528 140,368 81,814 135,726 437,616 973,273 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, November 17, 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 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 MS Facilities LLC of $16.6 billion, 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 Nov 17, 2021 Federal Reserve notes outstanding 2,418,556 Less: Notes held by F.R. Banks not subject to collateralization 252,800 Federal Reserve notes to be collateralized 2,165,755 Collateral held against Federal Reserve notes 2,165,755 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,149,519 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,179,303 Less: Face value of securities under reverse repurchase agreements 1,772,356 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,406,947 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.