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 March 31, 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 Mar 30, 2022 Federal Reserve Banks Mar 30, 2022 Mar 23, 2022 Mar 31, 2021 Reserve Bank credit 8,902,877 - 21,321 +1,260,843 8,898,734 Securities held outright1 8,480,677 - 18,121 +1,359,224 8,477,627 U.S. Treasury securities 5,759,706 + 881 + 825,190 5,760,030 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,966,485 0 + 735,625 4,966,485 Notes and bonds, inflation-indexed2 388,233 0 + 56,505 388,233 Inflation compensation3 78,944 + 882 + 33,060 79,267 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,718,624 - 19,002 + 534,034 2,715,250 Unamortized premiums on securities held outright5 344,876 - 1,485 - 5,893 344,536 Unamortized discounts on securities held outright5 -21,402 - 28 - 12,269 -21,381 Repurchase agreements6 0 0 - 1 1 Foreign official 0 0 - 1 0 Others 0 0 0 1 Loans 24,514 - 762 - 35,304 24,032 Primary credit 628 - 282 - 313 354 Secondary credit 0 0 0 0 Seasonal credit 0 0 0 0 Primary Dealer Credit Facility 0 0 - 25 0 Money Market Mutual Fund Liquidity Facility 0 0 - 303 0 Paycheck Protection Program Liquidity Facility 23,886 - 480 - 34,663 23,678 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 8,556 0 Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 26,025 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 28,859 + 10 - 2,087 28,866 Net portfolio holdings of Municipal Liquidity Facility LLC7 6,652 + 1 - 4,902 6,653 Net portfolio holdings of TALF II LLC7 2,527 + 1 - 3,069 2,527 Float -300 - 176 + 42 -1,136 Central bank liquidity swaps8 231 - 78 - 2,279 231 Other Federal Reserve assets9 36,243 - 683 + 1,962 36,779 Foreign currency denominated assets10 19,519 - 191 - 1,719 19,680 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 50,995 + 14 + 465 50,995 Total factors supplying reserve funds 8,989,632 - 21,499 +1,259,589 8,985,650 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 Mar 30, 2022 Federal Reserve Banks Mar 30, 2022 Mar 23, 2022 Mar 31, 2021 Currency in circulation11 2,266,398 + 2,108 + 127,798 2,268,291 Reverse repurchase agreements12 1,956,391 - 21,224 +1,703,369 2,040,783 Foreign official and international accounts 251,817 + 2,871 + 45,057 254,844 Others 1,704,574 - 24,095 +1,658,312 1,785,939 Treasury cash holdings 72 + 2 - 19 74 Deposits with F.R. Banks, other than reserve balances 868,503 - 29,489 - 495,091 835,300 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 575,065 - 39,551 - 450,662 556,791 Foreign official 8,332 + 943 - 24,134 8,124 Other13 285,106 + 9,119 - 20,295 270,384 Treasury contributions to credit facilities14 21,258 0 - 30,520 21,258 Other liabilities and capital15 47,329 - 1,482 + 535 46,478 Total factors, other than reserve balances, absorbing reserve funds 5,159,952 - 50,085 +1,306,071 5,212,184 Reserve balances with Federal Reserve Banks 3,829,680 + 28,585 - 46,482 3,773,466 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 Mar 30, 2022 Mar 30, 2022 Mar 23, 2022 Mar 31, 2021 Securities held in custody for foreign official and international accounts 3,464,169 + 13,870 - 87,353 3,460,942 Marketable U.S. Treasury securities1 3,047,170 + 17,971 - 71,004 3,051,664 Federal agency debt and mortgage-backed securities2 335,412 - 4,061 - 10,885 327,157 Other securities3 81,588 - 40 - 5,463 82,121 Securities lent to dealers 39,952 + 274 + 947 43,408 Overnight facility4 39,952 + 274 + 947 43,408 U.S. Treasury securities 39,952 + 274 + 947 43,408 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, March 30, 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 120 835 0 23,077 0 ... 24,032 U.S. Treasury securities2 Holdings 89,526 316,195 761,650 2,197,763 994,559 1,400,337 5,760,030 Weekly changes + 8,492 - 9,804 + 1,361 + 14,104 - 13,495 + 223 + 881 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 37 2,022 64,380 2,648,810 2,715,250 Weekly changes 0 - 1 - 6 - 94 - 1,038 - 22,372 - 23,510 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 14,715 ... ... 14,715 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907 Loans held by TALF II LLC7 0 0 0 1,264 ... ... 1,264 Repurchase agreements8 1 0 ... ... ... ... 1 Central bank liquidity swaps9 231 0 0 0 0 0 231 Reverse repurchase agreements8 2,040,783 0 ... ... ... ... 2,040,783 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 Mar 30, 2022 Mortgage-backed securities held outright1 2,715,250 Residential mortgage-backed securities 2,706,233 Commercial mortgage-backed securities 9,017 Commitments to buy mortgage-backed securities2 49,241 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 2 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 Mar 30, 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) 14,563 12,692 16,174 28,866 Municipal Liquidity Facility LLC 2,907 2,907 3,746 6,653 TALF II LLC 1,327 1,264 1,263 2,527 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 Mar 30, 2022 Mar 23, 2022 Mar 31, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,295 + 2 - 189 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,824,815 - 24,665 +1,292,814 Securities held outright1 8,477,627 - 22,628 +1,348,319 U.S. Treasury securities 5,760,030 + 881 + 817,753 Bills2 326,044 0 0 Notes and bonds, nominal2 4,966,485 0 + 731,092 Notes and bonds, inflation-indexed2 388,233 0 + 53,476 Inflation compensation3 79,267 + 881 + 33,184 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,715,250 - 23,510 + 530,567 Unamortized premiums on securities held outright5 344,536 - 1,360 - 6,438 Unamortized discounts on securities held outright5 -21,381 + 29 - 11,912 Repurchase agreements6 1 + 1 + 1 Loans7 24,032 - 706 - 37,156 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,556 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 26,034 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 28,866 + 9 - 2,087 Net portfolio holdings of Municipal Liquidity Facility LLC8 6,653 + 1 - 4,903 Net portfolio holdings of TALF II LLC8 2,527 0 - 2,755 Items in process of collection (0) 61 + 7 + 4 Bank premises 1,131 - 162 - 792 Central bank liquidity swaps9 231 - 78 - 2,279 Foreign currency denominated assets10 19,680 + 112 - 1,471 Other assets11 35,648 - 557 + 4,402 Total assets (0) 8,937,142 - 25,332 +1,248,154 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 Mar 30, 2022 Mar 23, 2022 Mar 31, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,218,660 + 2,526 + 123,555 Reverse repurchase agreements12 2,040,783 - 13,799 +1,688,606 Deposits (0) 4,608,766 - 14,966 - 534,218 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,773,466 + 4,420 + 100,764 U.S. Treasury, General Account 556,791 - 19,651 - 565,160 Foreign official 8,124 + 551 - 25,085 Other13 (0) 270,384 - 287 - 44,738 Deferred availability cash items (0) 1,197 + 988 + 90 Treasury contributions to credit facilities14 21,258 0 - 30,520 Other liabilities and accrued dividends15 5,369 - 82 - 1,214 Total liabilities (0) 8,896,034 - 25,331 +1,246,300 Capital accounts Capital paid in 34,324 0 + 1,855 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 41,109 0 + 1,855 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, March 30, 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 1,295 19 24 116 51 189 101 237 23 42 94 164 233 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,824,815 147,080 4,978,335 185,901 324,602 589,997 515,665 480,290 114,906 76,965 117,172 389,286 904,616 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 28,866 28,866 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 6,653 0 6,653 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,527 0 2,527 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 231 10 77 8 20 48 10 9 4 2 2 4 34 Foreign currency denominated assets4 19,680 893 6,615 707 1,702 4,095 890 771 374 167 213 355 2,898 Other assets5 36,840 709 19,554 876 1,399 2,758 2,238 2,017 595 475 794 1,719 3,707 Interdistrict settlement account 0+ 27,832- 299,379- 7,403- 15,837+ 9,070+ 54,933+ 117,547+ 26,161+ 1,110+ 19,377+ 74,498 - 7,907 Total assets 8,937,142 205,941 4,719,828 180,728 312,689 607,345 576,025 602,007 142,539 79,035 138,107 467,245 905,656 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, March 30, 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 2,218,660 73,231 705,123 58,921 104,543 154,024 333,866 130,470 65,047 34,401 58,043 191,744 309,249 Reverse repurchase agreements6 2,040,783 34,103 1,153,565 43,103 74,256 136,749 119,574 111,366 26,606 15,791 27,100 90,247 208,323 Deposits 4,608,766 82,183 2,839,006 76,963 129,656 307,299 119,581 358,172 49,827 28,421 52,309 183,884 381,466 Depository institutions 3,773,466 82,170 2,220,110 76,961 129,544 306,568 119,548 143,226 49,817 28,224 52,280 183,621 381,397 U.S. Treasury, General Account 556,791 0 556,791 0 0 0 0 0 0 0 0 0 0 Foreign official 8,124 2 8,098 1 3 8 2 2 1 0 0 1 6 Other7 270,384 12 54,007 0 109 722 32 214,944 9 196 29 262 63 Earnings remittances due to the U.S. Treasury8 2,439 29 1,382 52 90 177 152 120 25 16 36 105 255 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 4,127 -1,194 1,126 192 220 660 1,521 372 169 157 195 252 455 Total liabilities 8,896,034 204,027 4,705,785 179,232 308,765 598,908 574,694 600,499 141,675 78,786 137,683 466,232 899,749 Capital Capital paid in 34,324 1,621 11,680 1,244 3,261 7,077 1,110 1,250 728 215 354 850 4,934 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 8,937,142 205,941 4,719,828 180,728 312,689 607,345 576,025 602,007 142,539 79,035 138,107 467,245 905,656 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, March 30, 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 Mar 30, 2022 Federal Reserve notes outstanding 2,492,762 Less: Notes held by F.R. Banks not subject to collateralization 274,102 Federal Reserve notes to be collateralized 2,218,660 Collateral held against Federal Reserve notes 2,218,660 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,202,424 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,477,628 Less: Face value of securities under reverse repurchase agreements 2,099,221 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,378,407 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.