H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time November 2, 2023 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 September 30, 2023.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 2, 2023 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 Nov 1, 2023 Federal Reserve Banks Nov 1, 2023 Oct 25, 2023 Nov 2, 2022 Reserve Bank credit 7,860,859 - 25,265 - 801,070 7,830,818 Securities held outright1 7,365,336 - 23,816 - 908,511 7,337,855 U.S. Treasury securities 4,900,082 - 12,131 - 692,897 4,872,601 Bills2 231,358 - 1,632 - 64,701 231,266 Notes and bonds, nominal2 4,190,561 - 10,965 - 630,685 4,163,024 Notes and bonds, inflation-indexed2 365,380 0 - 10,381 365,380 Inflation compensation3 112,783 + 466 + 12,870 112,932 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,462,907 - 11,685 - 215,614 2,462,907 Unamortized premiums on securities held outright5 284,433 - 801 - 35,940 284,242 Unamortized discounts on securities held outright5 -26,336 + 91 + 497 -26,246 Repurchase agreements6 2 + 1 + 2 1 Foreign official 0 0 0 1 Others 2 + 1 + 2 0 Loans 164,897 + 359 + 145,785 163,189 Primary credit 3,128 + 238 - 2,848 2,951 Secondary credit 0 0 0 0 Seasonal credit 40 - 5 + 23 35 Paycheck Protection Program Liquidity Facility 4,384 - 140 - 8,734 4,343 Bank Term Funding Program 109,301 + 532 + 109,301 109,070 Other credit extensions7 48,043 - 267 + 48,043 46,790 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 19,127 + 112 - 6,494 19,144 Net portfolio holdings of Municipal Liquidity Facility LLC8 5,641 + 3 + 68 5,643 Net portfolio holdings of TALF II LLC8 1,165 - 57 - 959 1,019 Float -391 - 200 + 86 -479 Central bank liquidity swaps9 246 - 6 + 43 246 Other Federal Reserve assets10 46,739 - 951 + 4,352 46,203 Foreign currency denominated assets11 17,683 - 22 + 665 17,608 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding12 52,490 + 14 + 497 52,490 Total factors supplying reserve funds 7,947,273 - 25,273 - 799,908 7,917,157 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 Nov 1, 2023 Federal Reserve Banks Nov 1, 2023 Oct 25, 2023 Nov 2, 2022 Currency in circulation12 2,323,441 + 385 + 38,195 2,325,298 Reverse repurchase agreements13 1,410,661 - 19,284 -1,128,535 1,396,515 Foreign official and international accounts 307,716 + 4,474 - 30,311 317,053 Others 1,102,945 - 23,757 -1,098,224 1,079,462 Treasury cash holdings 372 + 5 + 274 375 Deposits with F.R. Banks, other than reserve balances 992,914 - 13,213 + 193,386 927,385 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 820,487 - 13,931 + 221,943 753,008 Foreign official 9,687 + 2 + 2,248 9,686 Other14 162,740 + 716 - 30,805 164,691 Treasury contributions to credit facilities15 13,358 0 - 4,582 13,358 Other liabilities and capital16 -60,690 + 1,502 - 103,134 -60,402 Total factors, other than reserve balances, absorbing reserve funds 4,680,057 - 30,603 -1,004,397 4,602,528 Reserve balances with Federal Reserve Banks 3,267,216 + 5,330 + 204,489 3,314,630 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 outstanding loans to depository institutions that were subsequently placed into Federal Deposit Insurance Corporation (FDIC) receivership, including depository institutions established by the FDIC. The Federal Reserve Banks' loans to these depository institutions are secured by pledged collateral and the FDIC provides repayment guarantees. 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. Includes bank premises, accrued interest, and other accounts receivable. 11. Revalued daily at current foreign currency exchange rates. 12. Estimated. 13. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities 14. 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. 15. Book value. Amount of equity investments in MS Facilities LLC of $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 billion. 16. 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 Nov 1, 2023 Nov 1, 2023 Oct 25, 2023 Nov 2, 2022 Securities held in custody for foreign official and international accounts 3,421,166 - 4,504 + 111,007 3,414,285 Marketable U.S. Treasury securities1 2,984,703 - 5,780 + 87,796 2,978,012 Federal agency debt and mortgage-backed securities2 353,880 + 1,145 + 24,753 353,896 Other securities3 82,584 + 132 - 1,542 82,376 Securities lent to dealers 35,138 - 1,486 - 3,588 38,742 Overnight facility4 35,138 - 1,486 - 3,588 38,742 U.S. Treasury securities 35,138 - 1,486 - 3,588 38,742 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, November 1, 2023 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 48,578 3,420 106,852 4,339 0 ... 163,189 U.S. Treasury securities2 Holdings 82,056 203,839 603,077 1,671,544 807,863 1,504,222 4,872,601 Weekly changes - 2,428 - 33,687 + 18,294 - 11,232 - 10,717 + 172 - 39,599 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 0 18 5,541 37,179 2,420,168 2,462,907 Weekly changes 0 0 0 + 104 - 104 0 0 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 9,158 ... ... 9,158 Municipal notes held by Municipal Liquidity Facility LLC6 0 2,907 0 0 ... ... 2,907 Loans held by TALF II LLC7 0 193 0 0 ... ... 193 Repurchase agreements8 1 0 ... ... ... ... 1 Central bank liquidity swaps9 246 0 0 0 0 0 246 Reverse repurchase agreements8 1,396,515 0 ... ... ... ... 1,396,515 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), Bank Term Funding Program, 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. Additionally, the Within 15 days category includes outstanding loans to depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership. These loans are recognized as performing based upon payment due from the receiverships, pledged collateral securing the loans, and the FDIC repayment guarantees. 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 Nov 1, 2023 Mortgage-backed securities held outright1 2,462,907 Residential mortgage-backed securities 2,454,618 Commercial mortgage-backed securities 8,289 Commitments to buy mortgage-backed securities2 150 Commitments to sell mortgage-backed securities2 0 Cash and cash equivalents3 0 1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days. 3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6. 4. Information on Principal Accounts of Credit Facilities LLCs Millions of dollars Wednesday Nov 1, 2023 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) 8,329 8,382 10,762 19,144 Municipal Liquidity Facility LLC 2,907 2,907 2,736 5,643 TALF II LLC 200 193 826 1,019 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 September 30, 2023. 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 Nov 1, 2023 Oct 25, 2023 Nov 2, 2022 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,455 0 + 257 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,759,041 - 41,890 - 807,590 Securities held outright1 7,337,855 - 39,599 - 917,981 U.S. Treasury securities 4,872,601 - 39,599 - 702,364 Bills2 231,266 - 1,538 - 64,793 Notes and bonds, nominal2 4,163,024 - 38,502 - 640,160 Notes and bonds, inflation-indexed2 365,380 0 - 10,381 Inflation compensation3 112,932 + 442 + 12,971 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,462,907 0 - 215,616 Unamortized premiums on securities held outright5 284,242 - 528 - 35,893 Unamortized discounts on securities held outright5 -26,246 + 78 + 537 Repurchase agreements6 1 0 0 Loans7 163,189 - 1,842 + 145,746 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 19,144 + 106 - 6,493 Net portfolio holdings of Municipal Liquidity Facility LLC8 5,643 + 2 + 69 Net portfolio holdings of TALF II LLC8 1,019 - 204 - 1,084 Items in process of collection (0) 67 + 10 - 41 Bank premises 430 - 12 - 208 Central bank liquidity swaps9 246 - 6 + 43 Foreign currency denominated assets10 17,608 - 81 + 527 Other assets11 45,774 + 908 + 4,314 Total assets (0) 7,866,664 - 41,166 - 810,206 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 Nov 1, 2023 Oct 25, 2023 Nov 2, 2022 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,274,633 + 2,259 + 38,060 Reverse repurchase agreements12 1,396,515 - 6,600 -1,184,085 Deposits (0) 4,242,014 - 38,849 + 443,171 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,314,630 + 50,659 + 267,650 U.S. Treasury, General Account 753,008 - 94,709 + 200,919 Foreign official 9,686 + 1 + 2,250 Other13 (0) 164,691 + 5,201 - 27,648 Deferred availability cash items (0) 546 + 246 + 256 Treasury contributions to credit facilities14 13,358 0 - 4,582 Other liabilities and accrued dividends15 -103,137 + 1,776 - 103,887 Total liabilities (0) 7,823,929 - 41,168 - 811,066 Capital accounts Capital paid in 35,950 + 2 + 860 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 42,735 + 2 + 860 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 Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, 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 $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 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, November 1, 2023 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 16,237 557 5,175 525 752 1,187 2,287 1,104 479 264 452 1,290 2,165 Coin 1,455 52 43 133 52 189 112 253 30 48 99 181 263 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,759,041 150,957 4,248,918 127,638 236,469 535,069 521,706 479,111 121,266 59,027 106,501 383,055 789,326 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 19,144 19,144 0 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of Municipal Liquidity Facility LLC2 5,643 0 5,643 0 0 0 0 0 0 0 0 0 0 Net portfolio holdings of TALF II LLC2 1,019 0 1,019 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 246 11 88 9 23 50 7 9 6 2 3 5 35 Foreign currency denominated assets4 17,608 758 6,267 633 1,660 3,565 528 613 396 111 187 371 2,519 Other assets5 46,270 1,013 21,205 820 1,385 3,355 4,303 2,643 915 652 1,055 2,359 6,564 Interdistrict settlement account 0+ 2,322- 83,139- 13,392+ 63,707+ 196,599- 20,722- 71,414- 10,855- 3,635- 14,318- 57,309 + 12,156 Total assets 7,866,664 174,813 4,205,219 116,366 304,049 740,013 508,221 412,318 112,235 56,468 93,979 329,953 813,029 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, November 1, 2023 (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 2,274,633 78,560 730,496 51,597 110,709 163,853 353,643 124,275 72,354 33,896 48,330 186,878 320,044 Reverse repurchase agreements6 1,396,515 26,980 779,884 23,016 42,915 97,183 94,606 87,054 20,891 9,469 18,055 68,090 128,371 Deposits 4,242,014 58,622 2,745,475 41,110 149,647 486,341 57,584 206,957 17,952 12,897 27,348 75,326 362,757 Depository institutions 3,314,630 58,565 1,926,989 41,109 149,617 485,705 57,556 99,027 17,939 12,834 27,318 75,245 362,725 U.S. Treasury, General Account 753,008 0 753,008 0 0 0 0 0 0 0 0 0 0 Foreign official 9,686 2 9,660 1 4 8 1 1 1 0 0 1 6 Other7 164,691 55 55,818 0 26 627 27 107,928 13 62 29 80 26 Earnings remittances due to the U.S. Treasury8 -115,034 -2,156 -74,808 -1,090 -4,145 -17,251 71 -8,665 -103 -192 -428 -1,655 -4,612 Treasury contributions to credit facilities9 13,358 9,684 3,674 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 12,443 1,315 5,624 220 449 1,401 899 667 176 129 209 310 1,042 Total liabilities 7,823,929 173,005 4,190,346 114,853 299,575 731,526 506,803 410,287 111,270 56,199 93,514 328,949 807,602 Capital Capital paid in 35,950 1,516 12,460 1,269 3,834 7,113 1,215 1,795 813 226 393 861 4,456 Surplus 6,785 292 2,414 244 640 1,374 203 236 153 43 72 143 971 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 7,866,664 174,813 4,205,219 116,366 304,049 740,013 508,221 412,318 112,235 56,468 93,979 329,953 813,029 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, November 1, 2023 (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, Bank Term Funding Program, 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. The Federal Reserve Banks remit residual net earnings 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. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume. 9. Book value. Amount of equity investments in MS Facilities LLC of $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 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 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 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 Nov 1, 2023 Federal Reserve notes outstanding 2,693,566 Less: Notes held by F.R. Banks not subject to collateralization 418,933 Federal Reserve notes to be collateralized 2,274,633 Collateral held against Federal Reserve notes 2,274,633 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,258,397 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,337,856 Less: Face value of securities under reverse repurchase agreements 1,626,525 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,711,331 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.