H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time August 4, 2022 In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was estimated based upon the Main Street Lending Program holdings as of June 30, 2022.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 4, 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 Aug 3, 2022 Federal Reserve Banks Aug 3, 2022 Jul 27, 2022 Aug 4, 2021 Reserve Bank credit 8,847,741 - 18,258 + 659,077 8,838,997 Securities held outright1 8,447,773 - 16,560 + 790,576 8,439,018 U.S. Treasury securities 5,727,943 - 5,814 + 457,879 5,719,119 Bills2 326,044 0 0 326,044 Notes and bonds, nominal2 4,933,455 - 7,004 + 396,108 4,924,116 Notes and bonds, inflation-indexed2 374,719 0 + 25,434 374,719 Inflation compensation3 93,725 + 1,190 + 36,337 94,240 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,717,483 - 10,746 + 332,698 2,717,552 Unamortized premiums on securities held outright5 330,302 - 877 - 22,356 330,094 Unamortized discounts on securities held outright5 -25,935 - 44 - 11,260 -25,938 Repurchase agreements6 1 + 1 + 1 0 Foreign official 0 0 0 0 Others 1 + 1 + 1 0 Loans 19,029 - 671 - 65,602 18,862 Primary credit 2,806 - 259 + 2,469 2,731 Secondary credit 0 0 - 1 0 Seasonal credit 17 + 6 + 3 24 Primary Dealer Credit Facility 0 0 0 0 Paycheck Protection Program Liquidity Facility 16,205 - 418 - 68,074 16,107 Other credit extensions 0 0 0 0 Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 22,657 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 26,119 + 79 - 4,426 26,138 Net portfolio holdings of Municipal Liquidity Facility LLC7 5,548 + 2 - 4,214 5,549 Net portfolio holdings of TALF II LLC7 2,160 - 21 - 2,378 2,157 Float -467 - 281 - 143 -171 Central bank liquidity swaps8 213 + 7 - 265 213 Other Federal Reserve assets9 42,999 + 108 + 1,802 43,076 Foreign currency denominated assets10 18,003 + 211 - 3,358 17,877 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding11 51,216 + 14 + 582 51,216 Total factors supplying reserve funds 8,933,201 - 18,032 + 656,301 8,924,330 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 Aug 3, 2022 Federal Reserve Banks Aug 3, 2022 Jul 27, 2022 Aug 4, 2021 Currency in circulation11 2,274,415 - 37 + 87,429 2,275,786 Reverse repurchase agreements12 2,516,245 + 9,355 +1,256,151 2,447,840 Foreign official and international accounts 281,871 - 6,523 + 2,917 265,602 Others 2,234,374 + 15,879 +1,253,234 2,182,238 Treasury cash holdings 104 + 5 + 56 101 Deposits with F.R. Banks, other than reserve balances 816,656 - 28,100 + 82,544 791,735 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 594,115 - 8,830 + 101,447 566,577 Foreign official 8,604 - 562 + 2,493 9,695 Other13 213,937 - 18,707 - 21,396 215,464 Treasury contributions to credit facilities14 17,940 0 - 22,338 17,940 Other liabilities and capital15 48,829 - 1,393 - 975 48,412 Total factors, other than reserve balances, absorbing reserve funds 5,674,189 - 20,170 +1,402,867 5,581,813 Reserve balances with Federal Reserve Banks 3,259,011 + 2,136 - 746,567 3,342,517 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 Aug 3, 2022 Aug 3, 2022 Jul 27, 2022 Aug 4, 2021 Securities held in custody for foreign official and international accounts 3,366,928 + 8,079 - 140,877 3,368,215 Marketable U.S. Treasury securities1 2,970,342 + 12,183 - 103,163 2,971,419 Federal agency debt and mortgage-backed securities2 313,424 - 4,068 - 30,595 313,432 Other securities3 83,162 - 37 - 7,120 83,365 Securities lent to dealers 40,078 + 4,399 + 11,403 46,391 Overnight facility4 40,078 + 4,399 + 11,403 46,391 U.S. Treasury securities 40,078 + 4,399 + 11,403 46,391 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, August 3, 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 1,016 1,752 0 16,095 0 ... 18,862 U.S. Treasury securities2 Holdings 140,902 269,234 815,460 2,038,765 1,017,734 1,437,025 5,719,119 Weekly changes + 53,077 - 51,894 - 583 - 15,458 - 1,749 + 1,546 - 15,061 Federal agency debt securities3 Holdings 0 0 0 0 2,347 0 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 2 57 2,414 57,790 2,657,289 2,717,552 Weekly changes 0 + 1 + 10 + 422 - 433 + 173 + 173 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 13,570 ... ... 13,570 Municipal notes held by Municipal Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907 Loans held by TALF II LLC7 0 0 64 1,026 ... ... 1,090 Repurchase agreements8 0 0 ... ... ... ... 0 Central bank liquidity swaps9 213 0 0 0 0 0 213 Reverse repurchase agreements8 2,447,840 0 ... ... ... ... 2,447,840 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 Aug 3, 2022 Mortgage-backed securities held outright1 2,717,552 Residential mortgage-backed securities 2,708,828 Commercial mortgage-backed securities 8,724 Commitments to buy mortgage-backed securities2 23,084 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 1 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 Aug 3, 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) 13,204 11,771 14,367 26,138 Municipal Liquidity Facility LLC 2,907 2,907 2,642 5,549 TALF II LLC 1,126 1,090 1,067 2,157 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 June 30, 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 Aug 3, 2022 Jul 27, 2022 Aug 4, 2021 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,283 + 7 + 30 Securities, unamortized premiums and discounts, repurchase agreements, and loans 8,762,037 - 16,867 + 675,296 Securities held outright1 8,439,018 - 14,889 + 774,251 U.S. Treasury securities 5,719,119 - 15,061 + 441,484 Bills2 326,044 0 0 Notes and bonds, nominal2 4,924,116 - 16,343 + 380,482 Notes and bonds, inflation-indexed2 374,719 0 + 24,577 Inflation compensation3 94,240 + 1,281 + 36,425 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,717,552 + 173 + 332,767 Unamortized premiums on securities held outright5 330,094 - 575 - 22,694 Unamortized discounts on securities held outright5 -25,938 - 87 - 11,200 Repurchase agreements6 0 - 1 0 Loans7 18,862 - 1,316 - 65,063 Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 22,659 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 26,138 + 85 - 4,429 Net portfolio holdings of Municipal Liquidity Facility LLC8 5,549 + 2 - 4,214 Net portfolio holdings of TALF II LLC8 2,157 - 25 - 2,356 Items in process of collection (0) 53 - 5 - 55 Bank premises 600 - 16 - 1,077 Central bank liquidity swaps9 213 + 7 - 265 Foreign currency denominated assets10 17,877 + 201 - 3,440 Other assets11 42,478 + 1,229 + 2,718 Total assets (0) 8,874,620 - 15,384 + 639,547 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 Aug 3, 2022 Jul 27, 2022 Aug 4, 2021 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,225,950 + 977 + 86,833 Reverse repurchase agreements12 2,447,840 - 36,413 +1,231,483 Deposits (0) 4,134,254 + 20,959 - 654,611 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,342,519 + 66,910 - 703,374 U.S. Treasury, General Account 566,577 - 48,938 + 60,706 Foreign official 9,695 + 94 + 2,519 Other13 (0) 215,464 + 2,894 - 14,461 Deferred availability cash items (0) 224 - 409 + 20 Treasury contributions to credit facilities14 17,940 0 - 22,338 Other liabilities and accrued dividends15 6,701 - 500 - 3,854 Total liabilities (0) 8,832,909 - 15,386 + 637,533 Capital accounts Capital paid in 34,926 + 2 + 2,014 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 41,711 + 2 + 2,014 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, August 3, 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 1,283 20 24 110 52 192 106 231 27 37 94 161 229 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 8,762,037 175,127 4,486,090 201,192 352,321 609,377 572,156 598,048 137,374 67,877 136,629 448,274 977,571 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 26,138 26,138 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 5,549 0 5,549 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 2,157 0 2,157 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 213 9 74 8 21 43 7 8 4 1 2 5 30 Foreign currency denominated assets4 17,877 770 6,228 663 1,747 3,584 582 678 360 90 184 429 2,562 Other assets5 43,131 955 20,969 1,075 1,782 3,294 2,858 2,894 827 506 977 2,278 4,716 Interdistrict settlement account 0- 12,513+ 302,254- 29,659- 75,743- 16,325+ 8,064- 51,493- 2,880- 1,118- 11,415- 8,467 - 100,706 Total assets 8,874,620 191,049 4,828,617 173,926 280,943 601,369 586,019 551,459 136,173 67,656 126,911 443,959 886,538 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, August 3, 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 2,225,950 76,268 704,228 57,613 102,310 151,148 342,621 125,502 70,591 33,860 57,642 193,904 310,263 Reverse repurchase agreements6 2,447,840 49,006 1,255,011 56,235 97,749 170,581 160,154 167,334 38,444 17,356 38,211 125,500 272,258 Deposits 4,134,254 50,828 2,847,634 58,327 76,577 270,404 81,152 256,550 25,995 16,007 30,387 123,089 297,304 Depository institutions 3,342,519 50,819 2,219,015 58,325 76,485 270,045 81,119 94,733 25,985 15,925 30,317 122,474 297,278 U.S. Treasury, General Account 566,577 0 566,577 0 0 0 0 0 0 0 0 0 0 Foreign official 9,695 2 9,668 1 4 8 1 2 1 0 0 1 6 Other7 215,464 8 52,374 0 88 351 31 161,816 9 82 70 614 21 Earnings remittances due to the U.S. Treasury8 1,446 45 505 43 93 112 165 82 49 18 32 94 209 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 5,479 -756 2,642 212 243 682 589 480 189 158 205 292 541 Total liabilities 8,832,909 189,281 4,814,070 172,430 276,972 592,927 584,680 549,948 135,268 67,399 126,477 442,880 880,576 Capital Capital paid in 34,926 1,476 12,184 1,245 3,308 7,081 1,118 1,254 769 222 364 917 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 8,874,620 191,049 4,828,617 173,926 280,943 601,369 586,019 551,459 136,173 67,656 126,911 443,959 886,538 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, August 3, 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 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 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 Aug 3, 2022 Federal Reserve notes outstanding 2,547,747 Less: Notes held by F.R. Banks not subject to collateralization 321,797 Federal Reserve notes to be collateralized 2,225,950 Collateral held against Federal Reserve notes 2,225,950 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,209,713 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,439,018 Less: Face value of securities under reverse repurchase agreements 2,515,217 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,923,802 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.