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 17, 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 16, 2022 Federal Reserve Banks Feb 16, 2022 Feb 9, 2022 Feb 17, 2021 Reserve Bank credit 8,858,545 + 20,847 +1,346,131 8,872,950 Securities held outright1 8,417,836 + 24,677 +1,436,997 8,445,579 U.S. Treasury securities 5,735,288 + 5,326 + 923,144 5,738,619 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,949,625 + 4,973 + 827,270 4,952,826 Notes and bonds, inflation-indexed2 385,089 0 + 64,667 385,089 Inflation compensation3 74,529 + 352 + 31,207 74,659 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,680,201 + 19,351 + 513,853 2,704,613 Unamortized premiums on securities held outright5 350,628 - 595 + 1,270 350,324 Unamortized discounts on securities held outright5 -19,518 - 324 - 12,986 -20,185 Repurchase agreements6 0 0 - 714 0 Foreign official 0 0 - 714 0 Others 0 0 0 0 Loans 28,626 - 322 - 24,405 28,706 Primary credit 758 + 432 - 1,009 1,112 Secondary credit 0 0 0 0 Seasonal credit 0 0 0 0 Primary Dealer Credit Facility 0 0 - 265 0 Money Market Mutual Fund Liquidity Facility 0 0 - 1,729 0 Paycheck Protection Program Liquidity Facility 27,868 - 754 - 21,402 27,594 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 0 0 - 26,269 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 29,177 - 73 - 4,093 28,980 Net portfolio holdings of Municipal Liquidity Facility LLC7 7,097 - 441 - 4,439 7,098 Net portfolio holdings of TALF II LLC7 2,542 0 - 3,863 2,542 Float -139 - 23 - 69 -167 Central bank liquidity swaps8 214 + 7 - 7,951 214 Other Federal Reserve assets9 42,082 - 2,058 + 1,210 29,858 Foreign currency denominated assets10 20,344 - 88 - 1,633 20,356 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,986 + 14 + 496 50,986 Total factors supplying reserve funds 8,946,115 + 20,773 +1,344,993 8,960,532 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 16, 2022 Federal Reserve Banks Feb 16, 2022 Feb 9, 2022 Feb 17, 2021 Currency in circulation11 2,232,103 + 1,747 + 130,078 2,234,394 Reverse repurchase agreements12 1,897,602 - 16,395 +1,692,539 1,901,462 Foreign official and international accounts 260,390 + 217 + 55,350 257,328 Others 1,637,212 - 16,612 +1,637,188 1,644,134 Treasury cash holdings 31 + 6 - 41 34 Deposits with F.R. Banks, other than reserve balances 947,435 + 9,140 - 862,591 960,654 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 692,541 + 6,157 - 874,500 709,261 Foreign official 5,790 + 572 - 16,512 7,251 Other13 249,104 + 2,410 + 28,421 244,141 Treasury contributions to credit facilities14 21,258 0 - 30,520 21,258 Other liabilities and capital15 47,712 - 1,787 - 5,538 46,010 Total factors, other than reserve balances, absorbing reserve funds 5,146,142 - 7,289 + 923,927 5,163,812 Reserve balances with Federal Reserve Banks 3,799,973 + 28,062 + 421,066 3,796,720 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 16, 2022 Feb 16, 2022 Feb 9, 2022 Feb 17, 2021 Securities held in custody for foreign official and international accounts 3,447,889 - 17,870 - 101,845 3,449,672 Marketable U.S. Treasury securities1 3,041,368 - 18,779 - 58,514 3,043,010 Federal agency debt and mortgage-backed securities2 323,600 + 533 - 36,749 324,071 Other securities3 82,921 + 376 - 6,582 82,591 Securities lent to dealers 39,612 + 2,843 + 12,797 42,884 Overnight facility4 39,612 + 2,843 + 12,797 42,884 U.S. Treasury securities 39,612 + 2,843 + 12,797 42,884 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 16, 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 532 1,217 237 26,721 0 ... 28,706 U.S. Treasury securities2 Holdings 86,572 324,187 735,457 2,191,349 991,620 1,409,433 5,738,619 Weekly changes - 32,969 + 38,539 - 2,531 - 12,186 - 20,484 + 36,386 + 6,755 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 2,094 66,430 2,636,051 2,704,613 Weekly changes 0 0 0 - 12 - 570 + 44,345 + 43,762 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 15,110 ... ... 15,110 Municipal notes held by Municipal Liquidity Facility LLC6 451 0 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 214 0 0 0 0 0 214 Reverse repurchase agreements8 1,901,462 0 ... ... ... ... 1,901,462 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 16, 2022 Mortgage-backed securities held outright1 2,704,613 Residential mortgage-backed securities 2,695,537 Commercial mortgage-backed securities 9,077 Commitments to buy mortgage-backed securities2 70,202 Commitments to sell mortgage-backed securities2 1,000 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 Feb 16, 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) 14,727 13,087 15,893 28,980 Municipal Liquidity Facility LLC 3,358 3,358 3,740 7,098 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 16, 2022 Feb 9, 2022 Feb 17, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,271 + 19 - 291 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,804,425 + 48,862 +1,409,942 Securities held outright1 8,445,579 + 50,518 +1,448,613 U.S. Treasury securities 5,738,619 + 6,755 + 914,562 Bills2 326,044 0 0 Notes and bonds, nominal2 4,952,826 + 6,402 + 818,583 Notes and bonds, inflation-indexed2 385,089 0 + 64,667 Inflation compensation3 74,659 + 353 + 31,311 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,704,613 + 43,762 + 534,051 Unamortized premiums on securities held outright5 350,324 - 838 + 599 Unamortized discounts on securities held outright5 -20,185 - 993 - 13,457 Repurchase agreements6 0 0 - 500 Loans7 28,706 + 174 - 25,313 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,556 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 26,240 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 28,980 - 278 - 4,285 Net portfolio holdings of Municipal Liquidity Facility LLC8 7,098 + 1 - 4,440 Net portfolio holdings of TALF II LLC8 2,542 0 - 3,863 Items in process of collection (0) 53 - 38 - 16 Bank premises 1,387 + 5 - 657 Central bank liquidity swaps9 214 + 14 - 7,951 Foreign currency denominated assets10 20,356 - 56 - 1,491 Other assets11 28,472 - 15,503 + 1,480 Total assets (0) 8,911,033 + 33,024 +1,353,631 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 16, 2022 Feb 9, 2022 Feb 17, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,184,708 + 2,953 + 131,369 Reverse repurchase agreements12 1,901,462 - 6,429 +1,699,743 Deposits (0) 4,757,374 + 37,404 - 443,631 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,796,720 + 1,743 + 388,849 U.S. Treasury, General Account 709,261 + 30,242 - 859,632 Foreign official 7,251 + 2,061 - 15,801 Other13 (0) 244,141 + 3,357 + 42,953 Deferred availability cash items (0) 220 + 12 + 39 Treasury contributions to credit facilities14 21,258 0 - 30,520 Other liabilities and accrued dividends15 5,549 - 841 - 4,633 Total liabilities (0) 8,870,572 + 33,100 +1,352,367 Capital accounts Capital paid in 33,676 - 76 + 1,264 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 40,461 - 76 + 1,264 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 16, 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 1,271 16 24 115 51 182 111 231 20 37 90 160 233 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,804,425 146,712 4,965,144 185,376 324,344 588,481 514,198 478,930 114,668 78,257 116,909 388,232 903,177 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 28,980 28,980 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 7,098 0 7,098 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 214 10 72 8 18 44 10 8 4 2 2 4 31 Foreign currency denominated assets4 20,356 924 6,842 731 1,760 4,236 921 798 387 173 220 367 2,998 Other assets5 29,912 593 15,594 723 1,158 2,310 1,826 1,637 557 398 713 1,411 2,992 Interdistrict settlement account 0+ 4,731- 213,436- 7,999- 1,892- 15,219+ 59,170+ 79,111+ 20,079- 187+ 16,343+ 62,755 - 3,454 Total assets 8,911,033 182,495 4,789,302 179,476 326,191 581,221 578,423 561,851 136,189 78,953 134,733 454,148 908,052 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 16, 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 2,184,708 72,170 702,088 59,668 102,600 152,390 327,311 125,235 64,285 33,020 56,109 190,006 299,826 Reverse repurchase agreements6 1,901,462 31,775 1,074,813 40,160 69,187 127,413 111,411 103,763 24,790 14,713 25,250 84,086 194,101 Deposits 4,757,374 62,207 2,989,999 77,910 150,110 292,502 137,676 330,852 46,108 30,804 52,751 178,707 407,748 Depository institutions 3,796,720 62,180 2,225,369 77,909 150,011 291,936 137,501 137,100 46,098 30,330 52,175 178,435 407,678 U.S. Treasury, General Account 709,261 0 709,261 0 0 0 0 0 0 0 0 0 0 Foreign official 7,251 2 7,225 1 3 8 2 2 1 0 0 1 6 Other7 244,141 25 48,144 0 96 558 173 193,751 9 474 576 272 64 Earnings remittances due to the U.S. Treasury8 2,509 36 1,464 50 93 160 153 129 16 16 19 113 257 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 3,261 -1,254 1,353 191 216 601 557 375 168 151 186 257 459 Total liabilities 8,870,572 180,608 4,775,300 177,980 322,207 573,067 577,109 560,354 135,367 78,704 134,315 453,169 902,392 Capital Capital paid in 33,676 1,594 11,639 1,244 3,321 6,793 1,094 1,239 685 215 348 817 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 8,911,033 182,495 4,789,302 179,476 326,191 581,221 578,423 561,851 136,189 78,953 134,733 454,148 908,052 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 16, 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 16, 2022 Federal Reserve notes outstanding 2,467,630 Less: Notes held by F.R. Banks not subject to collateralization 282,921 Federal Reserve notes to be collateralized 2,184,708 Collateral held against Federal Reserve notes 2,184,708 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,168,472 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,445,579 Less: Face value of securities under reverse repurchase agreements 1,920,240 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,525,339 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.