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 28, 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 27, 2022 Federal Reserve Banks Apr 27, 2022 Apr 20, 2022 Apr 28, 2021 Reserve Bank credit 8,918,246 + 1,997 +1,148,459 8,902,321 Securities held outright1 8,495,416 + 3,069 +1,259,625 8,481,372 U.S. Treasury securities 5,763,654 + 11,201 + 753,396 5,764,013 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,975,463 + 11,878 + 669,872 4,975,463 Notes and bonds, inflation-indexed2 380,862 - 1,425 + 49,618 380,862 Inflation compensation3 81,285 + 748 + 33,907 81,644 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,729,416 - 8,131 + 506,230 2,715,012 Unamortized premiums on securities held outright5 341,754 - 1,301 - 8,811 341,098 Unamortized discounts on securities held outright5 -23,169 - 784 - 11,691 -23,140 Repurchase agreements6 0 0 0 0 Foreign official 0 0 0 0 Others 0 0 0 0 Loans 24,591 + 1,002 - 47,183 24,711 Primary credit 2,620 + 1,352 + 1,562 2,917 Secondary credit 0 0 0 0 Seasonal credit 2 + 2 + 2 3 Primary Dealer Credit Facility 0 0 0 0 Paycheck Protection Program Liquidity Facility 21,969 - 352 - 48,747 21,791 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 - 25,974 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 28,478 - 230 - 2,414 28,486 Net portfolio holdings of Municipal Liquidity Facility LLC7 6,656 + 1 - 4,677 6,657 Net portfolio holdings of TALF II LLC7 2,512 0 - 2,771 2,513 Float -198 - 93 + 16 -652 Central bank liquidity swaps8 214 - 23 - 489 214 Other Federal Reserve assets9 41,992 + 356 + 1,383 41,061 Foreign currency denominated assets10 18,832 - 171 - 2,841 18,630 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 51,051 + 14 + 498 51,051 Total factors supplying reserve funds 9,004,371 + 1,841 +1,146,117 8,988,243 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 27, 2022 Federal Reserve Banks Apr 27, 2022 Apr 20, 2022 Apr 28, 2021 Currency in circulation11 2,269,709 - 396 + 108,628 2,270,662 Reverse repurchase agreements12 2,076,020 + 52,462 +1,748,985 2,091,563 Foreign official and international accounts 282,319 + 8,756 + 60,119 288,401 Others 1,793,701 + 43,705 +1,688,866 1,803,162 Treasury cash holdings 85 + 4 + 26 80 Deposits with F.R. Banks, other than reserve balances 1,257,062 + 270,789 - 183,418 1,230,333 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 944,328 + 232,922 - 23,361 957,419 Foreign official 8,908 - 1,440 - 20,163 9,905 Other13 303,827 + 39,307 - 139,893 263,010 Treasury contributions to credit facilities14 21,258 0 - 29,020 21,258 Other liabilities and capital15 48,254 - 899 - 1,797 46,798 Total factors, other than reserve balances, absorbing reserve funds 5,672,389 + 321,960 +1,643,404 5,660,695 Reserve balances with Federal Reserve Banks 3,331,982 - 320,119 - 497,287 3,327,548 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 27, 2022 Apr 27, 2022 Apr 20, 2022 Apr 28, 2021 Securities held in custody for foreign official and international accounts 3,461,630 + 16,044 - 84,968 3,429,646 Marketable U.S. Treasury securities1 3,040,005 + 13,915 - 60,430 3,025,856 Federal agency debt and mortgage-backed securities2 339,774 + 2,236 - 17,681 321,921 Other securities3 81,851 - 106 - 6,858 81,869 Securities lent to dealers 37,551 - 5,133 + 853 34,782 Overnight facility4 37,551 - 5,133 + 853 34,782 U.S. Treasury securities 37,551 - 5,133 + 853 34,782 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 27, 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 2,516 707 0 21,488 0 ... 24,711 U.S. Treasury securities2 Holdings 78,805 328,227 773,813 2,158,802 1,017,134 1,407,233 5,764,013 Weekly changes - 4,926 + 657 + 4,329 + 361 + 308 + 249 + 978 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 41 1,997 62,647 2,650,326 2,715,012 Weekly changes 0 - 1 - 8 - 98 - 1,142 - 14,428 - 15,675 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 14,506 ... ... 14,506 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907 Loans held by TALF II LLC7 0 0 0 1,160 ... ... 1,160 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 214 0 0 0 0 0 214 Reverse repurchase agreements8 2,091,563 0 ... ... ... ... 2,091,563 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 (PPPLF) and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. 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 27, 2022 Mortgage-backed securities held outright1 2,715,012 Residential mortgage-backed securities 2,706,069 Commercial mortgage-backed securities 8,943 Commitments to buy mortgage-backed securities2 42,118 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 13 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 27, 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) 14,147 12,492 15,994 28,486 Municipal Liquidity Facility LLC 2,907 2,907 3,750 6,657 TALF II LLC 1,311 1,160 1,353 2,513 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 27, 2022 Apr 20, 2022 Apr 28, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,281 - 3 - 103 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,824,041 - 15,742 +1,204,999 Securities held outright1 8,481,372 - 14,698 +1,272,958 U.S. Treasury securities 5,764,013 + 978 + 749,251 Bills2 326,044 0 0 Notes and bonds, nominal2 4,975,463 0 + 667,052 Notes and bonds, inflation-indexed2 380,862 0 + 48,246 Inflation compensation3 81,644 + 977 + 33,953 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,715,012 - 15,675 + 523,707 Unamortized premiums on securities held outright5 341,098 - 1,313 - 8,210 Unamortized discounts on securities held outright5 -23,140 - 88 - 11,336 Repurchase agreements6 0 0 0 Loans7 24,711 + 357 - 48,413 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,556 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 25,970 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 28,486 + 10 - 2,409 Net portfolio holdings of Municipal Liquidity Facility LLC8 6,657 + 1 - 4,464 Net portfolio holdings of TALF II LLC8 2,513 + 1 - 2,771 Items in process of collection (0) 75 + 11 0 Bank premises 621 - 449 - 1,304 Central bank liquidity swaps9 214 - 23 - 489 Foreign currency denominated assets10 18,630 - 371 - 3,026 Other assets11 40,443 - 87 + 2,328 Total assets (0) 8,939,199 - 16,652 +1,158,237 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 27, 2022 Apr 20, 2022 Apr 28, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,220,968 + 151 + 106,692 Reverse repurchase agreements12 2,091,563 - 72,714 +1,708,672 Deposits (0) 4,557,884 + 55,683 - 626,339 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,327,551 + 694 - 561,467 U.S. Treasury, General Account 957,419 + 49,893 + 25,132 Foreign official 9,905 - 172 - 19,187 Other13 (0) 263,010 + 5,269 - 70,817 Deferred availability cash items (0) 727 + 509 - 181 Treasury contributions to credit facilities14 21,258 0 - 29,020 Other liabilities and accrued dividends15 5,539 - 296 - 3,577 Total liabilities (0) 8,897,939 - 16,667 +1,156,246 Capital accounts Capital paid in 34,474 + 14 + 1,990 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 41,259 + 14 + 1,990 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, 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 27, 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 16,237 544 5,271 537 763 1,203 2,247 1,093 461 263 440 1,279 2,136 Coin 1,281 19 26 112 51 188 102 236 24 44 93 156 231 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,824,041 176,197 4,516,799 202,169 355,533 613,428 575,715 601,872 138,334 70,487 137,643 451,223 984,640 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 28,486 28,486 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 6,657 0 6,657 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,513 0 2,513 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 214 9 75 8 21 43 7 8 4 1 2 5 31 Foreign currency denominated assets4 18,630 802 6,489 691 1,821 3,735 606 706 375 94 192 447 2,671 Other assets5 41,140 907 20,030 1,030 1,692 3,145 2,747 2,753 768 485 945 2,165 4,472 Interdistrict settlement account 0- 17,905+ 327,369- 29,792- 64,658- 78,096- 6,109- 3,837+ 1,891+ 318- 7,106- 4,708 - 117,365 Total assets 8,939,199 189,060 4,885,229 174,755 295,222 543,647 575,315 602,831 141,857 71,692 132,209 450,568 876,815 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 27, 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 2,220,968 72,933 704,068 60,136 103,558 152,687 333,841 129,116 67,557 34,134 58,798 193,832 310,307 Reverse repurchase agreements6 2,091,563 41,873 1,072,348 48,050 83,522 145,754 136,844 142,979 32,849 14,830 32,649 107,234 232,632 Deposits 4,557,884 57,746 3,086,241 64,853 103,960 236,006 102,115 328,735 40,358 22,306 40,099 148,141 327,325 Depository institutions 3,327,551 57,731 2,069,000 64,852 103,912 235,435 102,081 117,073 40,352 21,832 40,060 147,933 327,289 U.S. Treasury, General Account 957,419 0 957,419 0 0 0 0 0 0 0 0 0 0 Foreign official 9,905 2 9,878 1 4 8 1 2 1 0 0 1 6 Other7 263,010 13 49,943 0 44 563 32 211,660 5 474 38 207 31 Earnings remittances due to the U.S. Treasury8 2,034 18 1,156 38 58 64 158 139 25 7 38 115 220 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 4,232 -1,156 1,776 182 201 699 1,027 355 163 157 193 232 401 Total liabilities 8,897,939 187,088 4,871,173 173,259 291,298 535,209 573,985 601,324 140,952 71,434 131,778 449,554 870,886 Capital Capital paid in 34,474 1,680 11,693 1,244 3,261 7,077 1,110 1,250 769 223 361 850 4,957 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 8,939,199 189,060 4,885,229 174,755 295,222 543,647 575,315 602,831 141,857 71,692 132,209 450,568 876,815 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 27, 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 27, 2022 Federal Reserve notes outstanding 2,509,012 Less: Notes held by F.R. Banks not subject to collateralization 288,044 Federal Reserve notes to be collateralized 2,220,968 Collateral held against Federal Reserve notes 2,220,968 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,204,731 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,481,372 Less: Face value of securities under reverse repurchase agreements 2,185,560 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,295,812 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.