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 30, 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 29, 2022 Federal Reserve Banks Jun 29, 2022 Jun 22, 2022 Jun 30, 2021 Reserve Bank credit 8,889,619 - 11,205 + 850,130 8,876,712 Securities held outright1 8,486,638 - 9,512 + 983,899 8,475,608 U.S. Treasury securities 5,763,729 + 573 + 587,886 5,763,933 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,964,079 - 3 + 518,736 4,964,057 Notes and bonds, inflation-indexed2 382,966 0 + 33,190 382,966 Inflation compensation3 90,640 + 576 + 35,960 90,865 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,720,563 - 10,084 + 396,014 2,709,328 Unamortized premiums on securities held outright5 334,260 - 1,061 - 16,999 333,711 Unamortized discounts on securities held outright5 -25,120 + 8 - 10,926 -25,082 Repurchase agreements6 0 0 0 1 Foreign official 0 0 0 0 Others 0 0 0 1 Loans 21,216 - 1,087 - 69,778 21,702 Primary credit 2,882 - 682 + 2,422 3,604 Secondary credit 1 + 1 + 1 0 Seasonal credit 13 + 5 - 7 16 Primary Dealer Credit Facility 0 0 0 0 Paycheck Protection Program Liquidity Facility 18,319 - 412 - 72,195 18,082 Other credit extensions 0 0 0 0 Net portfolio holdings of Commercial Paper Funding Facility II LLC7 0 0 - 1,250 0 Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 25,868 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 26,376 + 11 - 4,163 26,387 Net portfolio holdings of Municipal Liquidity Facility LLC7 5,540 + 1 - 5,198 5,541 Net portfolio holdings of TALF II LLC7 2,197 0 - 2,555 2,198 Float -310 - 160 + 13 -1,185 Central bank liquidity swaps8 184 - 13 - 393 184 Other Federal Reserve assets9 38,637 + 605 + 3,347 37,647 Foreign currency denominated assets10 18,229 - 2 - 3,078 18,117 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 51,177 + 14 + 591 51,177 Total factors supplying reserve funds 8,975,267 - 11,192 + 847,643 8,962,247 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 29, 2022 Federal Reserve Banks Jun 29, 2022 Jun 22, 2022 Jun 30, 2021 Currency in circulation11 2,278,688 + 1,032 + 98,178 2,281,158 Reverse repurchase agreements12 2,466,420 - 6,918 +1,392,534 2,488,247 Foreign official and international accounts 262,835 + 10,009 + 12,055 261,271 Others 2,203,585 - 16,927 +1,380,479 2,226,976 Treasury cash holdings 98 + 5 + 56 97 Deposits with F.R. Banks, other than reserve balances 1,032,987 + 11,995 + 37,097 1,007,901 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 756,627 - 1,656 + 10,665 759,845 Foreign official 7,434 - 1 + 662 7,434 Other13 268,925 + 13,650 + 25,769 240,622 Treasury contributions to credit facilities14 17,940 0 - 29,481 17,940 Other liabilities and capital15 49,048 + 163 - 36 48,294 Total factors, other than reserve balances, absorbing reserve funds 5,845,180 + 6,277 +1,498,347 5,843,636 Reserve balances with Federal Reserve Banks 3,130,087 - 17,469 - 650,704 3,118,611 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 29, 2022 Jun 29, 2022 Jun 22, 2022 Jun 30, 2021 Securities held in custody for foreign official and international accounts 3,390,844 - 12,434 - 131,738 3,385,385 Marketable U.S. Treasury securities1 2,990,677 - 6,306 - 90,944 2,987,240 Federal agency debt and mortgage-backed securities2 317,104 - 6,167 - 34,850 315,090 Other securities3 83,063 + 39 - 5,944 83,054 Securities lent to dealers 44,821 - 3,609 + 4,546 45,204 Overnight facility4 44,821 - 3,609 + 4,546 45,204 U.S. Treasury securities 44,821 - 3,609 + 4,546 45,204 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 29, 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 2,718 918 0 18,066 0 ... 21,702 U.S. Treasury securities2 Holdings 93,370 325,023 810,874 2,084,018 1,019,834 1,430,814 5,763,933 Weekly changes + 13,089 - 13,162 + 111 + 9,723 - 9,302 + 130 + 589 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 46 1,984 59,537 2,647,761 2,709,328 Weekly changes 0 0 - 8 - 79 - 984 - 18,415 - 19,487 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 13,856 ... ... 13,856 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907 Loans held by TALF II LLC7 0 0 0 1,126 ... ... 1,126 Repurchase agreements8 1 0 ... ... ... ... 1 Central bank liquidity swaps9 184 0 0 0 0 0 184 Reverse repurchase agreements8 2,488,247 0 ... ... ... ... 2,488,247 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 29, 2022 Mortgage-backed securities held outright1 2,709,328 Residential mortgage-backed securities 2,700,564 Commercial mortgage-backed securities 8,764 Commitments to buy mortgage-backed securities2 46,590 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 4 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 29, 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 11,987 14,400 26,387 Municipal Liquidity Facility LLC 2,907 2,907 2,634 5,541 TALF II LLC 1,171 1,126 1,072 2,198 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 29, 2022 Jun 22, 2022 Jun 30, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,248 - 6 + 15 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,805,940 - 20,096 + 872,355 Securities held outright1 8,475,608 - 18,898 + 970,239 U.S. Treasury securities 5,763,933 + 589 + 580,548 Bills2 326,044 0 0 Notes and bonds, nominal2 4,964,057 - 25 + 514,708 Notes and bonds, inflation-indexed2 382,966 0 + 30,080 Inflation compensation3 90,865 + 614 + 35,758 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,709,328 - 19,487 + 389,691 Unamortized premiums on securities held outright5 333,711 - 1,193 - 17,691 Unamortized discounts on securities held outright5 -25,082 + 70 - 10,770 Repurchase agreements6 1 + 1 + 1 Loans7 21,702 - 76 - 69,424 Net portfolio holdings of Commercial Paper Funding Facility II LLC8 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 25,902 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 26,387 + 13 - 4,160 Net portfolio holdings of Municipal Liquidity Facility LLC8 5,541 + 1 - 5,199 Net portfolio holdings of TALF II LLC8 2,198 + 1 - 2,491 Items in process of collection (0) 52 - 35 - 14 Bank premises 621 + 3 - 1,308 Central bank liquidity swaps9 184 - 13 - 384 Foreign currency denominated assets10 18,117 - 137 - 3,104 Other assets11 37,028 - 525 + 5,201 Total assets (0) 8,913,553 - 20,793 + 835,009 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 29, 2022 Jun 22, 2022 Jun 30, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,231,322 + 2,510 + 97,183 Reverse repurchase agreements12 2,488,247 - 27,899 +1,227,322 Deposits (0) 4,126,514 + 3,361 - 467,301 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,118,614 + 3,020 - 393,016 U.S. Treasury, General Account 759,845 + 14,793 - 92,084 Foreign official 7,434 0 + 2,179 Other13 (0) 240,622 - 14,451 + 15,620 Deferred availability cash items (0) 1,237 + 968 + 109 Treasury contributions to credit facilities14 17,940 0 - 22,338 Other liabilities and accrued dividends15 6,590 + 237 - 2,064 Total liabilities (0) 8,871,849 - 20,824 + 832,909 Capital accounts Capital paid in 34,919 + 31 + 2,100 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 41,704 + 31 + 2,100 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 29, 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 1,248 19 23 108 48 194 97 222 24 41 91 154 228 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,805,940 175,943 4,507,120 202,311 354,361 612,280 574,774 600,805 138,052 68,869 137,290 450,449 983,686 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 26,387 26,387 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 5,541 0 5,541 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,198 0 2,198 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 184 8 64 7 18 37 6 7 4 1 2 4 26 Foreign currency denominated assets4 18,117 780 6,311 672 1,770 3,632 589 687 365 91 187 435 2,597 Other assets5 37,701 847 18,249 955 1,558 2,911 2,505 2,526 696 457 884 1,999 4,113 Interdistrict settlement account 0- 1,929+ 288,974- 25,419- 74,482- 52,856+ 9,595- 20,095+ 3,427+ 174- 9,310+ 4,697 - 122,775 Total assets 8,913,553 202,599 4,833,750 179,171 284,037 567,401 589,814 585,244 143,029 69,896 129,584 459,017 870,012 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 29, 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 2,231,322 74,333 703,444 60,013 103,377 151,906 338,627 126,829 71,142 33,850 58,860 196,267 312,675 Reverse repurchase agreements6 2,488,247 49,814 1,275,728 57,163 99,363 173,397 162,797 170,096 39,079 17,643 38,842 127,572 276,753 Deposits 4,126,514 63,633 2,833,334 60,221 76,971 232,712 85,261 286,149 31,684 17,946 31,201 133,655 273,747 Depository institutions 3,118,614 63,621 2,013,048 60,219 76,941 232,171 85,228 100,108 31,678 17,750 31,168 132,960 273,721 U.S. Treasury, General Account 759,845 0 759,845 0 0 0 0 0 0 0 0 0 0 Foreign official 7,434 2 7,408 1 4 8 1 2 1 0 0 1 6 Other7 240,622 10 53,033 0 27 533 32 186,039 5 196 33 695 20 Earnings remittances due to the U.S. Treasury8 811 20 336 16 38 57 100 34 9 11 13 60 116 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 7,015 -858 2,325 261 317 887 1,693 625 210 178 234 385 759 Total liabilities 8,871,849 200,833 4,819,215 177,675 280,066 558,959 588,478 583,733 142,124 69,627 129,150 457,939 864,049 Capital Capital paid in 34,919 1,474 12,172 1,245 3,308 7,081 1,115 1,254 769 235 364 915 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 8,913,553 202,599 4,833,750 179,171 284,037 567,401 589,814 585,244 143,029 69,896 129,584 459,017 870,012 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 29, 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 29, 2022 Federal Reserve notes outstanding 2,533,082 Less: Notes held by F.R. Banks not subject to collateralization 301,760 Federal Reserve notes to be collateralized 2,231,322 Collateral held against Federal Reserve notes 2,231,322 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,215,085 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,475,609 Less: Face value of securities under reverse repurchase agreements 2,687,629 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,787,979 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.