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 February 10, 2022 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 Feb 9, 2022 Federal Reserve Banks Feb 9, 2022 Feb 2, 2022 Feb 10, 2021 Reserve Bank credit 8,837,698 + 10,189 +1,449,668 8,839,900 Securities held outright1 8,393,159 + 9,323 +1,534,520 8,395,061 U.S. Treasury securities 5,729,962 + 9,316 + 943,460 5,731,864 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,944,652 + 6,521 + 845,614 4,946,424 Notes and bonds, inflation-indexed2 385,089 + 2,396 + 66,725 385,089 Inflation compensation3 74,177 + 399 + 31,122 74,306 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,660,850 + 7 + 591,060 2,660,851 Unamortized premiums on securities held outright5 351,223 - 258 + 5,179 351,162 Unamortized discounts on securities held outright5 -19,194 - 132 - 12,772 -19,192 Repurchase agreements6 0 0 - 914 0 Foreign official 0 0 - 914 0 Others 0 0 0 0 Loans 28,948 - 1,151 - 22,823 28,532 Primary credit 326 + 19 - 1,348 394 Secondary credit 0 0 0 0 Seasonal credit 0 0 0 0 Primary Dealer Credit Facility 0 0 - 519 0 Money Market Mutual Fund Liquidity Facility 0 0 - 1,729 0 Paycheck Protection Program Liquidity Facility 28,622 - 1,170 - 19,228 28,138 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 8,558 0 Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 26,258 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 29,250 + 7 - 4,062 29,258 Net portfolio holdings of Municipal Liquidity Facility LLC7 7,538 - 331 - 4,007 7,097 Net portfolio holdings of TALF II LLC7 2,542 - 34 - 3,862 2,542 Float -116 + 365 - 48 -117 Central bank liquidity swaps8 207 - 57 - 8,256 200 Other Federal Reserve assets9 44,140 + 2,457 + 1,528 45,357 Foreign currency denominated assets10 20,432 + 232 - 1,481 20,412 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 51,012 + 14 + 529 51,012 Total factors supplying reserve funds 8,925,383 + 10,435 +1,448,715 8,927,565 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 Feb 9, 2022 Federal Reserve Banks Feb 9, 2022 Feb 2, 2022 Feb 10, 2021 Currency in circulation11 2,230,396 + 1,505 + 131,058 2,231,488 Reverse repurchase agreements12 1,913,997 + 17,018 +1,709,924 1,907,891 Foreign official and international accounts 260,173 - 23,262 + 56,176 254,738 Others 1,653,824 + 40,279 +1,653,748 1,653,153 Treasury cash holdings 25 - 1 - 36 31 Deposits with F.R. Banks, other than reserve balances 938,295 + 8,131 - 872,346 924,993 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 686,384 + 10,611 - 922,522 679,019 Foreign official 5,218 - 1,431 - 16,741 5,190 Other13 246,694 - 1,048 + 66,918 240,784 Treasury contributions to credit facilities14 21,258 0 - 30,520 21,258 Other liabilities and capital15 49,499 + 1,583 - 2,358 46,927 Total factors, other than reserve balances, absorbing reserve funds 5,153,471 + 28,237 + 935,723 5,132,588 Reserve balances with Federal Reserve Banks 3,771,911 - 17,803 + 512,992 3,794,977 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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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 Feb 9, 2022 Feb 9, 2022 Feb 2, 2022 Feb 10, 2021 Securities held in custody for foreign official and international accounts 3,465,759 + 7,891 - 69,924 3,460,389 Marketable U.S. Treasury securities1 3,060,147 + 7,148 - 27,928 3,054,240 Federal agency debt and mortgage-backed securities2 323,067 + 151 - 35,872 323,116 Other securities3 82,545 + 592 - 6,124 83,033 Securities lent to dealers 36,769 - 5,993 + 8,380 38,817 Overnight facility4 36,769 - 5,993 + 8,380 38,817 U.S. Treasury securities 36,769 - 5,993 + 8,380 38,817 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, February 9, 2022 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 150 868 342 27,173 0 ... 28,532 U.S. Treasury securities2 Holdings 119,541 285,648 737,988 2,203,535 1,012,104 1,373,047 5,731,864 Weekly changes - 1,199 + 1,399 - 180 + 138 + 106 + 3,490 + 3,755 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 1 37 2,106 67,000 2,591,706 2,660,851 Weekly changes 0 0 0 0 + 7,558 - 7,553 + 6 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 15,137 ... ... 15,137 Municipal notes held by Municipal Liquidity Facility LLC6 0 451 0 2,907 ... ... 3,358 Loans held by TALF II LLC7 0 0 0 1,286 ... ... 1,286 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 200 0 0 0 0 0 200 Reverse repurchase agreements8 1,907,891 0 ... ... ... ... 1,907,891 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 Feb 9, 2022 Mortgage-backed securities held outright1 2,660,851 Residential mortgage-backed securities 2,651,753 Commercial mortgage-backed securities 9,098 Commitments to buy mortgage-backed securities2 101,888 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 6 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 Feb 9, 2022 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 MS Facilities LLC (Main Street Lending Program) 15,011 13,108 16,150 29,258 Municipal Liquidity Facility LLC 3,358 3,358 3,739 7,097 TALF II LLC 1,345 1,286 1,256 2,542 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 MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses updated as of December 31, 2021. b. 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. c. 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 Feb 9, 2022 Feb 2, 2022 Feb 10, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,252 - 1 - 313 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,755,563 + 2,319 +1,491,628 Securities held outright1 8,395,061 + 3,760 +1,524,023 U.S. Treasury securities 5,731,864 + 3,755 + 932,963 Bills2 326,044 0 0 Notes and bonds, nominal2 4,946,424 + 3,402 + 837,252 Notes and bonds, inflation-indexed2 385,089 0 + 64,667 Inflation compensation3 74,306 + 352 + 31,043 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,660,851 + 6 + 591,061 Unamortized premiums on securities held outright5 351,162 - 320 + 4,951 Unamortized discounts on securities held outright5 -19,192 - 24 - 12,700 Repurchase agreements6 0 0 - 800 Loans7 28,532 - 1,096 - 23,846 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,558 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 26,274 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 29,258 + 9 - 4,063 Net portfolio holdings of Municipal Liquidity Facility LLC8 7,097 - 773 - 4,439 Net portfolio holdings of TALF II LLC8 2,542 0 - 3,863 Items in process of collection (0) 91 + 41 - 12 Bank premises 1,382 + 10 - 828 Central bank liquidity swaps9 200 - 64 - 8,263 Foreign currency denominated assets10 20,412 - 34 - 1,631 Other assets11 43,975 + 3,289 + 2,399 Total assets (0) 8,878,009 + 4,798 +1,435,784 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 Feb 9, 2022 Feb 2, 2022 Feb 10, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,181,755 + 1,393 + 129,980 Reverse repurchase agreements12 1,907,891 + 1,320 +1,695,860 Deposits (0) 4,719,970 + 3,377 - 353,781 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,794,977 + 38,360 + 496,338 U.S. Treasury, General Account 679,019 - 31,248 - 897,725 Foreign official 5,190 - 431 - 16,931 Other13 (0) 240,784 - 3,304 + 64,536 Deferred availability cash items (0) 208 + 8 + 37 Treasury contributions to credit facilities14 21,258 0 - 30,520 Other liabilities and accrued dividends15 6,390 - 1,281 - 7,146 Total liabilities (0) 8,837,472 + 4,816 +1,434,429 Capital accounts Capital paid in 33,752 - 18 + 1,356 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 40,537 - 18 + 1,356 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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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, February 9, 2022 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 1,252 16 25 114 49 180 111 231 19 36 89 155 227 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,755,563 145,902 4,937,198 184,348 322,622 585,230 511,346 476,276 114,034 78,050 116,270 386,089 898,200 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 29,258 29,258 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 7,097 0 7,097 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,542 0 2,542 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 200 9 67 7 17 42 9 8 4 2 2 4 29 Foreign currency denominated assets4 20,412 926 6,861 733 1,765 4,248 923 800 388 174 221 368 3,006 Other assets5 45,449 850 24,343 1,050 1,711 3,341 2,770 2,481 762 553 920 2,095 4,572 Interdistrict settlement account 0+ 7,838- 240,192- 3,711+ 5,020- 12,786+ 57,928+ 87,449+ 22,822- 127+ 18,874+ 64,236 - 7,353 Total assets 8,878,009 185,329 4,743,363 183,064 331,936 581,442 575,276 568,380 138,504 78,960 136,832 454,167 900,756 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, February 9, 2022 (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 2,181,755 72,090 701,342 60,224 102,621 152,678 325,701 124,850 64,205 32,789 56,687 190,237 298,332 Reverse repurchase agreements6 1,907,891 31,882 1,078,447 40,296 69,421 127,844 111,788 104,114 24,874 14,763 25,335 84,370 194,758 Deposits 4,719,970 65,010 2,940,461 80,796 155,588 292,008 135,765 337,339 48,396 30,988 54,170 178,201 401,247 Depository institutions 3,794,977 64,983 2,209,943 80,794 155,539 291,272 135,630 145,189 48,387 30,548 53,540 177,977 401,174 U.S. Treasury, General Account 679,019 0 679,019 0 0 0 0 0 0 0 0 0 0 Foreign official 5,190 2 5,164 1 3 8 2 2 1 0 0 1 6 Other7 240,784 25 46,336 0 46 728 133 192,148 8 440 629 224 68 Earnings remittances due to the U.S. Treasury8 2,822 40 1,647 56 102 193 154 147 30 17 34 117 283 Treasury contributions to credit facilities9 21,258 15,674 5,584 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 3,776 -1,254 1,850 197 220 564 553 388 178 154 187 263 477 Total liabilities 8,837,472 183,442 4,729,331 181,568 327,953 573,288 573,961 566,838 137,682 78,711 136,414 453,188 895,097 Capital Capital paid in 33,752 1,594 11,669 1,244 3,321 6,793 1,094 1,286 685 215 348 817 4,687 Surplus 6,785 292 2,363 252 663 1,361 221 257 137 34 70 163 973 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 8,878,009 185,329 4,743,363 183,064 331,936 581,442 575,276 568,380 138,504 78,960 136,832 454,167 900,756 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, February 9, 2022 (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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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 Feb 9, 2022 Federal Reserve notes outstanding 2,462,202 Less: Notes held by F.R. Banks not subject to collateralization 280,447 Federal Reserve notes to be collateralized 2,181,755 Collateral held against Federal Reserve notes 2,181,755 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,165,518 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,395,061 Less: Face value of securities under reverse repurchase agreements 1,902,901 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,492,161 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.