H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 4, 2024 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Apr 3, 2024 Federal Reserve Banks Apr 3, 2024 Mar 27, 2024 Apr 5, 2023 Reserve Bank credit 7,426,585 - 36,088 -1,172,582 7,402,915 Securities held outright1 6,988,255 - 27,786 - 895,524 6,965,944 U.S. Treasury securities 4,597,473 - 21,181 - 689,479 4,575,162 Bills2 195,143 - 4,857 - 85,823 195,143 Notes and bonds, nominal2 3,928,319 - 16,917 - 596,454 3,905,763 Notes and bonds, inflation-indexed2 360,612 0 - 16,412 360,612 Inflation compensation3 113,399 + 593 + 9,210 113,644 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,388,435 - 6,604 - 206,045 2,388,435 Unamortized premiums on securities held outright5 271,034 - 620 - 33,639 270,865 Unamortized discounts on securities held outright5 -24,864 + 220 + 2,619 -24,784 Repurchase agreements6 2 + 2 - 44,284 2 Foreign official 0 0 - 44,286 0 Others 2 + 2 + 2 2 Loans 140,087 - 7,508 - 186,263 138,960 Primary credit 6,105 + 19 - 64,933 5,451 Secondary credit 45 + 14 + 45 0 Seasonal credit 1 0 + 1 2 Paycheck Protection Program Liquidity Facility 3,048 - 16 - 6,218 3,045 Bank Term Funding Program 130,888 - 7,525 + 62,732 130,462 Other credit extensions7 0 0 - 177,889 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 14,678 + 21 - 7,634 14,688 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,603 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,926 0 Float -574 - 295 - 192 -777 Central bank liquidity swaps9 187 + 8 - 368 187 Other Federal Reserve assets10 37,780 - 131 + 231 37,831 Foreign currency denominated assets11 18,022 - 10 - 876 18,031 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding12 52,798 + 14 + 659 52,798 Total factors supplying reserve funds 7,513,646 - 36,084 -1,172,799 7,489,985 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Apr 3, 2024 Federal Reserve Banks Apr 3, 2024 Mar 27, 2024 Apr 5, 2023 Currency in circulation12 2,344,841 + 2,582 + 21,078 2,347,145 Reverse repurchase agreements13 904,400 + 72,196 -1,754,151 801,636 Foreign official and international accounts 375,161 + 26,447 + 13,815 365,005 Others 529,239 + 45,749 -1,767,967 436,631 Treasury cash holdings 444 - 5 + 277 441 Deposits with F.R. Banks, other than reserve balances 949,049 - 31,030 + 558,434 898,547 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 768,651 - 33,582 + 599,858 732,828 Foreign official 12,920 - 705 + 3,275 10,699 Other14 167,478 + 3,257 - 44,698 155,021 Treasury contributions to credit facilities15 7,438 0 - 7,909 7,438 Other liabilities and capital16 -106,815 + 2,006 - 112,758 -106,389 Total factors, other than reserve balances, absorbing reserve funds 4,099,358 + 45,749 -1,295,029 3,948,818 Reserve balances with Federal Reserve Banks 3,414,288 - 81,833 + 122,230 3,541,167 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 $7.4 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 Apr 3, 2024 Apr 3, 2024 Mar 27, 2024 Apr 5, 2023 Securities held in custody for foreign official and international accounts 3,345,413 + 4,658 + 26,196 3,349,063 Marketable U.S. Treasury securities1 2,941,698 + 4,955 + 43,632 2,945,559 Federal agency debt and mortgage-backed securities2 322,599 - 445 - 17,498 322,331 Other securities3 81,116 + 148 + 62 81,174 Securities lent to dealers 44,612 + 8,336 - 5,420 41,226 Overnight facility4 44,612 + 8,336 - 5,420 41,226 U.S. Treasury securities 44,612 + 8,336 - 5,411 41,226 Federal agency debt securities 0 0 - 9 0 Note: Components may not sum to totals because of rounding. 1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6. 2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities. 3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. 4. Face value. Fully collateralized by U.S. Treasury securities.

H.4.1 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, April 3, 2024 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 8,354 16,959 110,605 3,041 0 ... 138,960 U.S. Treasury securities2 Holdings 70,985 239,513 534,567 1,520,273 701,279 1,508,544 4,575,162 Weekly changes + 7,373 - 26,381 + 816 - 16,267 - 8,637 + 175 - 42,920 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 1 34 5,607 30,175 2,352,618 2,388,435 Weekly changes 0 + 1 + 6 + 85 + 19 - 111 0 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 7,059 ... ... 7,059 Repurchase agreements6 2 0 ... ... ... ... 2 Central bank liquidity swaps7 187 0 0 0 0 0 187 Reverse repurchase agreements6 801,636 0 ... ... ... ... 801,636 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. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBB's statement of condition, 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. Cash value of agreements. 7. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Wednesday Account name Apr 3, 2024 Mortgage-backed securities held outright1 2,388,435 Residential mortgage-backed securities 2,380,240 Commercial mortgage-backed securities 8,195 Commitments to buy mortgage-backed securities2 20 Commitments to sell mortgage-backed securities2 67 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 LLC Millions of dollars Wednesday Apr 3, 2024 Net portfolio holdings of Credit Facilities LLC Outstanding Credit Facilities LLC: 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) 6,070 6,351 8,337 14,688 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 includes loan participations at face value, net of an allowance for loan losses updated as of December 31, 2023. 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. Refer to the note on consolidation accompanying table 6.

H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Change since Eliminations from Wednesday Assets, liabilities, and capital Wednesday Wednesday consolidation Apr 3, 2024 Mar 27, 2024 Apr 5, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,551 - 1 + 253 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,350,986 - 46,359 -1,175,611 Securities held outright1 6,965,944 - 42,920 - 911,170 U.S. Treasury securities 4,575,162 - 42,920 - 705,125 Bills2 195,143 - 4,072 - 85,823 Notes and bonds, nominal2 3,905,763 - 39,473 - 612,033 Notes and bonds, inflation-indexed2 360,612 0 - 16,412 Inflation compensation3 113,644 + 625 + 9,144 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,388,435 0 - 206,045 Unamortized premiums on securities held outright5 270,865 - 471 - 33,530 Unamortized discounts on securities held outright5 -24,784 + 207 + 2,578 Repurchase agreements6 2 + 2 - 39,998 Loans7 138,960 - 3,176 - 193,489 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 14,688 + 17 - 7,638 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,604 Net portfolio holdings of TALF II LLC8 0 0 - 1,923 Items in process of collection (0) 48 - 15 - 6 Bank premises 445 - 16 - 8 Central bank liquidity swaps9 187 + 8 - 291 Foreign currency denominated assets10 18,031 + 1 - 904 Other assets11 37,385 + 1,184 - 1,094 Total assets (0) 7,439,558 - 45,181 -1,192,826 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Change since Eliminations from Wednesday Assets, liabilities, and capital Wednesday Wednesday consolidation Apr 3, 2024 Mar 27, 2024 Apr 5, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,296,334 + 3,102 + 22,174 Reverse repurchase agreements12 801,636 - 71,110 -1,797,767 Deposits (0) 4,439,715 + 20,667 + 703,393 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,541,167 + 68,764 + 159,816 U.S. Treasury, General Account 732,828 - 39,432 + 592,140 Foreign official 10,699 - 3,848 + 1,018 Other13 (0) 155,021 - 4,818 - 49,582 Deferred availability cash items (0) 825 + 395 + 254 Treasury contributions to credit facilities14 7,438 0 - 7,909 Other liabilities and accrued dividends15 -149,530 + 1,768 - 113,908 Total liabilities (0) 7,396,418 - 45,178 -1,193,764 Capital accounts Capital paid in 36,356 - 1 + 939 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,141 - 1 + 939 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 $7.4 billion. 15. Includes the liability for earnings remittances due to the U.S. Treasury.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, April 3, 2024 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 1,551 47 54 162 52 200 108 273 35 56 110 185 270 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,350,986 153,106 4,037,656 122,020 225,388 512,951 499,685 460,136 114,343 55,698 103,228 363,412 703,364 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 14,688 14,688 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 187 8 65 7 20 37 6 9 4 1 2 4 24 Foreign currency denominated assets4 18,031 752 6,236 635 1,918 3,557 591 885 406 113 196 434 2,308 Other assets5 37,878 943 17,957 732 1,204 3,025 3,539 2,327 740 546 907 1,963 3,995 Interdistrict settlement account 0+ 15,170- 184,404- 4,300+ 86,701+ 147,215- 22,211- 74,777- 4,616- 4,322- 18,763- 32,172 + 96,480 Total assets 7,439,558 185,272 3,882,739 119,780 316,034 668,173 484,004 389,957 111,391 52,356 86,133 335,115 808,606 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, April 3, 2024 (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 2,296,334 82,083 748,282 50,653 111,024 163,141 355,265 121,240 72,338 31,221 40,628 192,087 328,371 Reverse repurchase agreements6 801,636 15,487 447,674 13,212 24,635 55,785 54,306 49,971 11,992 5,435 10,364 39,085 73,689 Deposits 4,439,715 80,188 2,768,111 55,749 181,963 465,066 71,678 227,262 25,909 15,505 35,021 104,118 409,144 Depository institutions 3,541,167 80,135 1,973,627 55,748 181,926 464,514 71,649 124,096 25,894 15,467 34,990 104,019 409,102 U.S. Treasury, General Account 732,828 0 732,828 0 0 0 0 0 0 0 0 0 0 Foreign official 10,699 2 10,673 1 4 8 1 2 1 0 0 1 5 Other7 155,021 51 50,983 0 32 543 28 103,165 14 37 31 99 37 Earnings remittances due to the U.S. Treasury8 -161,332 -3,198 -101,306 -1,587 -6,691 -25,592 78 -11,358 -10 -217 -561 -1,661 -9,228 Treasury contributions to credit facilities9 7,438 7,438 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 12,627 1,464 5,125 243 526 1,317 1,207 716 183 140 223 352 1,131 Total liabilities 7,396,418 183,463 3,867,885 118,270 311,457 659,718 482,535 387,831 110,412 52,084 85,675 333,981 803,106 Capital Capital paid in 36,356 1,525 12,508 1,271 3,856 7,116 1,247 1,792 826 229 384 970 4,631 Surplus 6,785 283 2,346 239 722 1,339 222 333 153 42 74 163 869 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 7,439,558 185,272 3,882,739 119,780 316,034 668,173 484,004 389,957 111,391 52,356 86,133 335,115 808,606 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 6. Statement of Condition of Each Federal Reserve Bank, April 3, 2024 (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 $7.4 billion. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On 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 Apr 3, 2024 Federal Reserve notes outstanding 2,728,138 Less: Notes held by F.R. Banks not subject to collateralization 431,804 Federal Reserve notes to be collateralized 2,296,334 Collateral held against Federal Reserve notes 2,296,334 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,280,097 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,965,946 Less: Face value of securities under reverse repurchase agreements 884,145 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,081,801 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.