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 June 16, 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 Jun 15, 2022 Federal Reserve Banks Jun 15, 2022 Jun 8, 2022 Jun 16, 2021 Reserve Bank credit 8,892,848 + 12,285 + 928,125 8,896,577 Securities held outright1 8,489,408 + 8,448 +1,064,044 8,492,644 U.S. Treasury securities 5,770,456 - 711 + 628,607 5,762,730 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,972,033 - 1,325 + 555,176 4,964,082 Notes and bonds, inflation-indexed2 382,966 0 + 36,737 382,966 Inflation compensation3 89,412 + 614 + 36,693 89,638 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,716,605 + 9,159 + 435,437 2,727,567 Unamortized premiums on securities held outright5 336,137 - 593 - 14,379 335,858 Unamortized discounts on securities held outright5 -24,631 - 120 - 10,684 -24,867 Repurchase agreements6 0 0 0 0 Foreign official 0 0 0 0 Others 0 0 0 0 Loans 21,896 + 1,322 - 65,947 22,658 Primary credit 2,705 + 1,776 + 2,195 3,706 Secondary credit 0 0 0 0 Seasonal credit 3 0 - 6 3 Primary Dealer Credit Facility 0 0 0 0 Paycheck Protection Program Liquidity Facility 19,188 - 455 - 68,136 18,949 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 8,554 0 Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 25,854 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 26,641 - 36 - 3,920 26,363 Net portfolio holdings of Municipal Liquidity Facility LLC7 5,537 + 1 - 5,197 5,538 Net portfolio holdings of TALF II LLC7 2,196 + 1 - 2,566 2,196 Float -127 + 29 - 2 -168 Central bank liquidity swaps8 199 + 16 - 301 199 Other Federal Reserve assets9 35,593 + 3,219 + 1,486 36,155 Foreign currency denominated assets10 18,248 - 419 - 3,348 18,124 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 51,149 + 14 + 563 51,149 Total factors supplying reserve funds 8,978,486 + 11,880 + 925,341 8,982,091 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 Jun 15, 2022 Federal Reserve Banks Jun 15, 2022 Jun 8, 2022 Jun 16, 2021 Currency in circulation11 2,276,559 - 2,623 + 98,050 2,276,909 Reverse repurchase agreements12 2,441,747 + 129,540 +1,680,466 2,421,604 Foreign official and international accounts 265,979 + 3,871 + 46,521 258,680 Others 2,175,768 + 125,670 +1,633,945 2,162,924 Treasury cash holdings 94 + 3 + 51 92 Deposits with F.R. Banks, other than reserve balances 907,814 - 59,688 - 160,837 1,027,760 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 656,870 - 66,514 + 2,981 769,937 Foreign official 7,618 - 3 - 19,542 7,435 Other13 243,326 + 6,829 - 144,276 250,388 Treasury contributions to credit facilities14 17,940 0 - 32,338 17,940 Other liabilities and capital15 50,379 + 99 - 3,966 48,180 Total factors, other than reserve balances, absorbing reserve funds 5,694,532 + 67,330 +1,581,425 5,792,486 Reserve balances with Federal Reserve Banks 3,283,954 - 55,451 - 656,084 3,189,605 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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 Jun 15, 2022 Jun 15, 2022 Jun 8, 2022 Jun 16, 2021 Securities held in custody for foreign official and international accounts 3,397,768 + 3,142 - 140,677 3,400,993 Marketable U.S. Treasury securities1 2,991,847 + 2,089 - 106,654 2,994,035 Federal agency debt and mortgage-backed securities2 322,585 + 978 - 27,964 323,802 Other securities3 83,336 + 75 - 6,059 83,156 Securities lent to dealers 45,675 + 6,431 + 9,292 47,598 Overnight facility4 45,675 + 6,431 + 9,292 47,598 U.S. Treasury securities 45,675 + 6,431 + 9,292 47,598 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, June 15, 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 1,152 2,574 0 18,931 0 ... 22,658 U.S. Treasury securities2 Holdings 79,168 333,462 816,561 2,074,069 1,028,941 1,430,529 5,762,730 Weekly changes + 24,011 - 35,743 + 9,027 - 9,367 + 2,136 + 1,272 - 8,663 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 54 2,062 60,515 2,664,934 2,727,567 Weekly changes 0 0 0 - 10 - 482 + 20,612 + 20,121 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 14,081 ... ... 14,081 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907 Loans held by TALF II LLC7 0 0 0 1,141 ... ... 1,141 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 199 0 0 0 0 0 199 Reverse repurchase agreements8 2,421,604 0 ... ... ... ... 2,421,604 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 Jun 15, 2022 Mortgage-backed securities held outright1 2,727,567 Residential mortgage-backed securities 2,718,697 Commercial mortgage-backed securities 8,870 Commitments to buy mortgage-backed securities2 53,787 Commitments to sell mortgage-backed securities2 3,281 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 Jun 15, 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) 13,591 12,212 14,152 26,363 Municipal Liquidity Facility LLC 2,907 2,907 2,631 5,538 TALF II LLC 1,171 1,141 1,056 2,196 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 March 31, 2022. 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 Jun 15, 2022 Jun 8, 2022 Jun 16, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,253 - 3 + 15 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,826,293 + 12,314 + 917,259 Securities held outright1 8,492,644 + 11,458 +1,008,402 U.S. Treasury securities 5,762,730 - 8,663 + 608,959 Bills2 326,044 0 0 Notes and bonds, nominal2 4,964,082 - 9,276 + 536,710 Notes and bonds, inflation-indexed2 382,966 0 + 35,707 Inflation compensation3 89,638 + 614 + 36,542 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,727,567 + 20,121 + 399,443 Unamortized premiums on securities held outright5 335,858 - 687 - 15,690 Unamortized discounts on securities held outright5 -24,867 - 385 - 10,926 Repurchase agreements6 0 0 0 Loans7 22,658 + 1,927 - 64,527 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 - 8,554 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 25,844 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 26,363 - 324 - 4,166 Net portfolio holdings of Municipal Liquidity Facility LLC8 5,538 + 1 - 5,198 Net portfolio holdings of TALF II LLC8 2,196 0 - 2,566 Items in process of collection (0) 62 - 3 - 1 Bank premises 620 + 5 - 1,297 Central bank liquidity swaps9 199 + 16 - 301 Foreign currency denominated assets10 18,124 - 402 - 3,465 Other assets11 35,535 + 2,562 + 2,283 Total assets (0) 8,932,420 + 14,166 + 868,163 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 Jun 15, 2022 Jun 8, 2022 Jun 16, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,227,101 - 1,985 + 97,556 Reverse repurchase agreements12 2,421,604 + 17,290 +1,677,844 Deposits (0) 4,217,365 - 363 - 872,413 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,189,605 - 102,997 - 716,131 U.S. Treasury, General Account 769,937 + 86,045 + 4,823 Foreign official 7,435 - 1,299 - 19,520 Other13 (0) 250,388 + 17,887 - 141,584 Deferred availability cash items (0) 229 + 28 + 71 Treasury contributions to credit facilities14 17,940 0 - 32,338 Other liabilities and accrued dividends15 6,508 - 809 - 4,627 Total liabilities (0) 8,890,747 + 14,161 + 866,093 Capital accounts Capital paid in 34,887 + 4 + 2,069 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 41,672 + 4 + 2,069 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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, June 15, 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 1,253 18 24 107 46 193 95 223 25 42 93 153 234 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,826,293 176,328 4,517,350 202,265 355,343 613,662 575,998 602,176 138,379 69,360 137,618 451,568 986,246 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 26,363 26,363 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 5,538 0 5,538 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,196 0 2,196 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 199 9 69 7 19 40 6 8 4 1 2 5 28 Foreign currency denominated assets4 18,124 780 6,313 672 1,771 3,634 590 687 365 91 187 435 2,598 Other assets5 36,216 810 17,412 917 1,491 2,803 2,410 2,417 844 421 844 1,917 3,931 Interdistrict settlement account 0- 14,537+ 272,941- 19,444- 72,463- 48,689+ 9,766- 10,999+ 4,732- 542- 10,267- 8,352 - 102,147 Total assets 8,932,420 190,315 4,827,116 185,062 286,970 572,845 591,112 595,605 144,811 69,637 128,916 447,005 893,026 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, June 15, 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 2,227,101 72,664 701,983 60,581 103,192 151,706 337,188 127,664 71,339 33,856 58,713 195,475 312,741 Reverse repurchase agreements6 2,421,604 48,480 1,241,560 55,632 96,702 168,753 158,437 165,540 38,032 17,170 37,801 124,155 269,340 Deposits 4,217,365 54,377 2,862,615 67,063 82,754 243,059 93,294 300,186 34,308 18,162 31,715 125,803 304,029 Depository institutions 3,189,605 54,364 2,028,618 67,062 82,720 242,628 93,262 107,446 34,302 17,972 31,648 125,586 303,998 U.S. Treasury, General Account 769,937 0 769,937 0 0 0 0 0 0 0 0 0 0 Foreign official 7,435 2 7,409 1 4 8 1 2 1 0 0 1 6 Other7 250,388 12 56,651 0 30 423 30 192,738 5 190 68 216 25 Earnings remittances due to the U.S. Treasury8 1,797 26 962 36 61 73 158 123 16 4 18 113 207 Treasury contributions to credit facilities9 17,940 13,891 4,049 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 4,941 -890 1,413 254 319 811 704 581 210 178 234 379 747 Total liabilities 8,890,747 188,548 4,812,582 183,566 283,026 564,403 589,780 594,094 143,905 69,370 128,482 445,926 887,064 Capital Capital paid in 34,887 1,474 12,171 1,245 3,280 7,081 1,111 1,254 769 232 364 917 4,990 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 8,932,420 190,315 4,827,116 185,062 286,970 572,845 591,112 595,605 144,811 69,637 128,916 447,005 893,026 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, June 15, 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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 Jun 15, 2022 Federal Reserve notes outstanding 2,527,237 Less: Notes held by F.R. Banks not subject to collateralization 300,135 Federal Reserve notes to be collateralized 2,227,101 Collateral held against Federal Reserve notes 2,227,101 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,210,864 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,492,644 Less: Face value of securities under reverse repurchase agreements 2,640,119 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,852,525 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.