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 April 14, 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 Apr 13, 2022 Federal Reserve Banks Apr 13, 2022 Apr 6, 2022 Apr 14, 2021 Reserve Bank credit 8,906,114 + 6,662 +1,213,797 8,928,537 Securities held outright1 8,482,935 + 4,550 +1,317,068 8,504,586 U.S. Treasury securities 5,761,686 + 1,002 + 792,041 5,762,054 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,963,879 0 + 704,177 4,963,879 Notes and bonds, inflation-indexed2 390,840 0 + 54,025 390,840 Inflation compensation3 80,923 + 1,002 + 33,839 81,292 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,718,902 + 3,547 + 525,027 2,740,185 Unamortized premiums on securities held outright5 343,781 - 542 - 7,481 343,559 Unamortized discounts on securities held outright5 -21,660 - 29 - 11,765 -21,856 Repurchase agreements6 9 + 8 + 9 1 Foreign official 0 - 1 0 1 Others 9 + 9 + 9 0 Loans 23,260 - 580 - 40,744 23,258 Primary credit 443 - 84 - 265 579 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 0 0 Paycheck Protection Program Liquidity Facility 22,817 - 496 - 40,455 22,679 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 - 25,940 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 28,877 + 9 - 2,086 28,886 Net portfolio holdings of Municipal Liquidity Facility LLC7 6,654 + 1 - 4,760 6,655 Net portfolio holdings of TALF II LLC7 2,511 0 - 2,772 2,512 Float -133 + 77 + 101 -184 Central bank liquidity swaps8 233 - 133 - 562 233 Other Federal Reserve assets9 39,646 + 3,300 + 1,284 40,888 Foreign currency denominated assets10 19,200 - 281 - 2,217 19,152 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 51,023 + 14 + 482 51,023 Total factors supplying reserve funds 8,992,579 + 6,396 +1,212,062 9,014,953 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 Apr 13, 2022 Federal Reserve Banks Apr 13, 2022 Apr 6, 2022 Apr 14, 2021 Currency in circulation11 2,270,291 + 1,067 + 117,168 2,271,295 Reverse repurchase agreements12 2,001,817 + 39,030 +1,735,827 2,070,332 Foreign official and international accounts 248,839 + 1,109 + 17,143 254,777 Others 1,752,978 + 37,921 +1,718,684 1,815,555 Treasury cash holdings 76 + 1 - 2 80 Deposits with F.R. Banks, other than reserve balances 827,493 - 23,218 - 452,756 809,830 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 547,308 - 27,143 - 377,786 543,536 Foreign official 7,862 + 363 - 24,155 9,172 Other13 272,323 + 3,563 - 50,815 257,122 Treasury contributions to credit facilities14 21,258 0 - 29,878 21,258 Other liabilities and capital15 47,999 + 54 - 4,128 48,840 Total factors, other than reserve balances, absorbing reserve funds 5,168,934 + 16,934 +1,366,230 5,221,636 Reserve balances with Federal Reserve Banks 3,823,644 - 10,539 - 154,169 3,793,317 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 Apr 13, 2022 Apr 13, 2022 Apr 6, 2022 Apr 14, 2021 Securities held in custody for foreign official and international accounts 3,460,988 + 2,065 - 93,011 3,452,796 Marketable U.S. Treasury securities1 3,050,256 + 816 - 68,418 3,032,648 Federal agency debt and mortgage-backed securities2 328,733 + 1,541 - 19,124 338,175 Other securities3 81,999 - 293 - 5,468 81,974 Securities lent to dealers 44,743 - 735 + 1,893 43,854 Overnight facility4 44,743 - 735 + 1,893 43,854 U.S. Treasury securities 44,743 - 735 + 1,893 43,854 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, April 13, 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 279 775 0 22,204 0 ... 23,258 U.S. Treasury securities2 Holdings 80,221 325,527 777,433 2,168,501 1,006,555 1,403,816 5,762,054 Weekly changes - 2,240 + 2,017 + 279 + 389 + 304 + 252 + 1,002 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 48 2,105 64,364 2,673,668 2,740,185 Weekly changes 0 0 0 0 0 + 24,831 + 24,830 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 14,547 ... ... 14,547 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 233 0 0 0 0 0 233 Reverse repurchase agreements8 2,070,332 0 ... ... ... ... 2,070,332 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 Apr 13, 2022 Mortgage-backed securities held outright1 2,740,185 Residential mortgage-backed securities 2,731,168 Commercial mortgage-backed securities 9,017 Commitments to buy mortgage-backed securities2 39,502 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 0 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6. 4. Information on Principal Accounts of Credit Facilities LLCs Millions of dollars Wednesday Apr 13, 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 12,532 16,353 28,886 Municipal Liquidity Facility LLC 2,907 2,907 3,748 6,655 TALF II LLC 1,311 1,264 1,248 2,512 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 Apr 13, 2022 Apr 6, 2022 Apr 14, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,290 - 4 - 138 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,849,548 + 24,818 +1,218,263 Securities held outright1 8,504,586 + 25,832 +1,279,721 U.S. Treasury securities 5,762,054 + 1,002 + 788,555 Bills2 326,044 0 0 Notes and bonds, nominal2 4,963,879 0 + 700,880 Notes and bonds, inflation-indexed2 390,840 0 + 53,682 Inflation compensation3 81,292 + 1,003 + 33,994 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,740,185 + 24,830 + 491,166 Unamortized premiums on securities held outright5 343,559 - 531 - 8,178 Unamortized discounts on securities held outright5 -21,856 - 245 - 11,437 Repurchase agreements6 1 - 2 + 1 Loans7 23,258 - 236 - 41,844 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,556 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 25,959 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 28,886 + 10 - 2,084 Net portfolio holdings of Municipal Liquidity Facility LLC8 6,655 + 1 - 4,761 Net portfolio holdings of TALF II LLC8 2,512 + 1 - 2,771 Items in process of collection (0) 86 + 30 + 31 Bank premises 1,117 + 7 - 799 Central bank liquidity swaps9 233 - 133 - 562 Foreign currency denominated assets10 19,152 - 151 - 2,363 Other assets11 39,773 + 3,317 + 2,085 Total assets (0) 8,965,487 + 27,895 +1,172,383 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 Apr 13, 2022 Apr 6, 2022 Apr 14, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,221,637 + 299 + 114,386 Reverse repurchase agreements12 2,070,332 + 94,694 +1,788,479 Deposits (0) 4,603,149 - 69,411 - 696,353 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,793,319 - 56,553 - 143,135 U.S. Treasury, General Account 543,536 - 2,048 - 378,149 Foreign official 9,172 + 1,738 - 21,903 Other13 (0) 257,122 - 12,547 - 153,166 Deferred availability cash items (0) 270 + 33 - 4 Treasury contributions to credit facilities14 21,258 0 - 29,020 Other liabilities and accrued dividends15 7,622 + 2,221 - 7,056 Total liabilities (0) 8,924,269 + 27,837 +1,170,433 Capital accounts Capital paid in 34,433 + 57 + 1,951 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 41,218 + 57 + 1,951 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, April 13, 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 1,290 19 23 116 51 188 102 235 26 45 94 160 231 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,849,548 147,531 4,992,815 186,437 325,452 591,664 517,159 481,702 115,236 76,731 117,477 390,411 906,934 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 28,886 28,886 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 6,655 0 6,655 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,512 0 2,512 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 233 10 81 9 23 47 8 9 5 1 2 6 33 Foreign currency denominated assets4 19,152 825 6,671 710 1,872 3,840 623 726 386 96 198 460 2,745 Other assets5 40,976 783 21,838 959 1,549 3,043 2,504 2,240 667 528 843 1,901 4,124 Interdistrict settlement account 0+ 11,448- 286,125- 3,664- 13,299+ 836+ 54,221+ 106,436+ 27,083+ 661+ 14,681+ 72,423 + 15,299 Total assets 8,965,487 190,032 4,749,891 185,090 316,398 600,805 576,805 592,483 143,877 78,335 133,750 466,580 931,441 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, April 13, 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 2,221,637 73,231 704,193 59,233 104,146 153,624 334,368 130,387 66,269 34,318 58,371 192,603 310,895 Reverse repurchase agreements6 2,070,332 34,597 1,170,268 43,727 75,331 138,729 121,305 112,978 26,992 16,019 27,492 91,553 211,340 Deposits 4,603,149 65,673 2,851,778 80,362 132,644 299,034 118,944 347,019 49,524 27,555 47,221 180,970 402,424 Depository institutions 3,793,319 65,658 2,250,524 80,361 132,592 298,264 118,911 139,902 49,517 27,246 47,191 180,798 402,356 U.S. Treasury, General Account 543,536 0 543,536 0 0 0 0 0 0 0 0 0 0 Foreign official 9,172 2 9,146 1 4 8 1 2 1 0 0 1 6 Other7 257,122 13 48,572 0 48 762 31 207,115 6 309 30 171 63 Earnings remittances due to the U.S. Treasury8 2,867 31 1,757 51 85 146 179 150 18 15 25 127 283 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 5,025 -1,146 2,256 221 268 835 678 442 186 169 210 314 592 Total liabilities 8,924,269 188,061 4,735,836 183,594 312,474 592,368 575,474 590,976 142,988 78,077 133,319 465,568 925,535 Capital Capital paid in 34,433 1,679 11,693 1,244 3,261 7,077 1,110 1,250 752 223 361 850 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 8,965,487 190,032 4,749,891 185,090 316,398 600,805 576,805 592,483 143,877 78,335 133,750 466,580 931,441 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, April 13, 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 Apr 13, 2022 Federal Reserve notes outstanding 2,501,986 Less: Notes held by F.R. Banks not subject to collateralization 280,349 Federal Reserve notes to be collateralized 2,221,637 Collateral held against Federal Reserve notes 2,221,637 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,205,400 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,504,588 Less: Face value of securities under reverse repurchase agreements 2,157,909 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,346,678 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.