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 25, 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 24, 2024 Federal Reserve Banks Apr 24, 2024 Apr 17, 2024 Apr 26, 2023 Reserve Bank credit 7,367,798 - 20,182 -1,170,777 7,366,592 Securities held outright1 6,928,633 - 22,242 - 924,158 6,926,866 U.S. Treasury securities 4,539,554 - 20,699 - 725,908 4,539,799 Bills2 195,143 0 - 85,823 195,143 Notes and bonds, nominal2 3,881,355 - 13,948 - 634,014 3,881,355 Notes and bonds, inflation-indexed2 350,027 - 6,048 - 15,384 350,027 Inflation compensation3 113,030 - 702 + 9,315 113,274 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,386,732 - 1,543 - 198,250 2,384,720 Unamortized premiums on securities held outright5 269,623 - 516 - 33,061 269,384 Unamortized discounts on securities held outright5 -24,920 - 139 + 2,544 -24,833 Repurchase agreements6 18 + 12 - 7,839 5 Foreign official 1 - 4 - 7,856 2 Others 17 + 16 + 17 3 Loans 135,520 + 668 - 192,651 135,693 Primary credit 6,844 + 992 - 64,199 7,018 Secondary credit 77 + 50 + 77 197 Seasonal credit 11 + 5 + 7 10 Paycheck Protection Program Liquidity Facility 2,996 - 24 - 5,863 2,975 Bank Term Funding Program 125,592 - 354 + 49,116 125,492 Other credit extensions7 0 0 - 171,789 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 14,507 - 108 - 7,650 14,518 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,610 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,927 0 Float -243 + 53 - 73 -278 Central bank liquidity swaps9 137 - 37 - 282 137 Other Federal Reserve assets10 44,523 + 2,127 - 69 45,102 Foreign currency denominated assets11 17,749 - 20 - 1,113 17,758 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding12 52,840 + 14 + 675 52,840 Total factors supplying reserve funds 7,454,628 - 20,188 -1,171,216 7,453,432 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 24, 2024 Federal Reserve Banks Apr 24, 2024 Apr 17, 2024 Apr 26, 2023 Currency in circulation12 2,344,898 - 1,689 + 22,447 2,344,784 Reverse repurchase agreements13 780,148 + 25,202 -1,869,301 809,259 Foreign official and international accounts 364,203 + 11,608 + 2,016 368,044 Others 415,946 + 13,595 -1,871,315 441,215 Treasury cash holdings 447 + 5 + 283 451 Deposits with F.R. Banks, other than reserve balances 1,112,293 + 159,787 + 606,249 1,133,956 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 941,430 + 144,895 + 649,728 929,379 Foreign official 15,830 + 6,135 + 6,146 27,504 Other14 155,032 + 8,755 - 49,626 177,074 Treasury contributions to credit facilities15 7,438 0 - 7,909 7,438 Other liabilities and capital16 -114,960 - 5,141 - 111,692 -114,163 Total factors, other than reserve balances, absorbing reserve funds 4,130,265 + 178,166 -1,359,923 4,181,725 Reserve balances with Federal Reserve Banks 3,324,363 - 198,354 + 188,708 3,271,706 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 24, 2024 Apr 24, 2024 Apr 17, 2024 Apr 26, 2023 Securities held in custody for foreign official and international accounts 3,354,951 - 14,411 - 15,835 3,348,956 Marketable U.S. Treasury securities1 2,956,497 - 12,502 + 5,870 2,951,583 Federal agency debt and mortgage-backed securities2 317,293 - 1,865 - 21,379 316,324 Other securities3 81,161 - 44 - 326 81,049 Securities lent to dealers 30,417 - 4,458 - 15,675 31,213 Overnight facility4 30,417 - 4,458 - 15,675 31,213 U.S. Treasury securities 30,417 - 4,458 - 15,659 31,213 Federal agency debt securities 0 0 - 16 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 24, 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 13,146 11,844 107,738 2,965 0 ... 135,693 U.S. Treasury securities2 Holdings 61,251 241,502 525,436 1,517,921 684,209 1,509,480 4,539,799 Weekly changes - 748 - 3,370 + 4,204 + 287 + 102 + 191 + 666 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 28,773 2,350,305 2,384,720 Weekly changes 0 0 0 0 - 1,402 - 2,119 - 3,521 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 6,994 ... ... 6,994 Repurchase agreements6 5 0 ... ... ... ... 5 Central bank liquidity swaps7 137 0 0 0 0 0 137 Reverse repurchase agreements6 809,259 0 ... ... ... ... 809,259 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 24, 2024 Mortgage-backed securities held outright1 2,384,720 Residential mortgage-backed securities 2,376,537 Commercial mortgage-backed securities 8,183 Commitments to buy mortgage-backed securities2 0 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 LLC Millions of dollars Wednesday Apr 24, 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) 5,857 6,287 8,231 14,518 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 24, 2024 Apr 17, 2024 Apr 26, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,517 - 11 + 216 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,307,114 - 5,176 -1,145,756 Securities held outright1 6,926,866 - 2,854 - 916,986 U.S. Treasury securities 4,539,799 + 666 - 725,929 Bills2 195,143 0 - 85,823 Notes and bonds, nominal2 3,881,355 0 - 634,057 Notes and bonds, inflation-indexed2 350,027 0 - 15,384 Inflation compensation3 113,274 + 665 + 9,335 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,384,720 - 3,521 - 191,056 Unamortized premiums on securities held outright5 269,384 - 584 - 32,868 Unamortized discounts on securities held outright5 -24,833 - 102 + 2,531 Repurchase agreements6 5 - 2 + 5 Loans7 135,693 - 1,633 - 198,437 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 14,518 + 13 - 7,661 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,613 Net portfolio holdings of TALF II LLC8 0 0 - 1,929 Items in process of collection (0) 52 - 13 0 Bank premises 456 + 6 + 3 Central bank liquidity swaps9 137 - 37 - 281 Foreign currency denominated assets10 17,758 + 34 - 1,194 Other assets11 44,646 + 2,113 + 1,882 Total assets (0) 7,402,434 - 3,072 -1,160,334 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 24, 2024 Apr 17, 2024 Apr 26, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,293,908 - 1,940 + 20,376 Reverse repurchase agreements12 809,259 + 13,619 -1,829,546 Deposits (0) 4,405,663 - 9,579 + 767,870 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,271,706 - 57,826 + 139,606 U.S. Treasury, General Account 929,379 - 553 + 633,170 Foreign official 27,504 + 17,810 + 17,820 Other13 (0) 177,074 + 30,990 - 22,727 Deferred availability cash items (0) 330 - 9 - 17 Treasury contributions to credit facilities14 7,438 0 - 7,909 Other liabilities and accrued dividends15 -157,304 - 5,161 - 112,043 Total liabilities (0) 7,359,294 - 3,072 -1,161,269 Capital accounts Capital paid in 36,356 0 + 936 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,141 0 + 936 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 24, 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 16,237 563 5,129 517 761 1,203 2,268 1,108 484 272 460 1,311 2,161 Coin 1,517 46 51 164 51 192 101 271 32 56 108 177 268 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,307,114 162,736 3,872,725 110,159 283,255 725,769 490,541 406,056 106,647 51,383 88,450 324,724 684,668 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 14,518 14,518 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 137 6 47 5 15 27 4 7 3 1 1 3 18 Foreign currency denominated assets4 17,758 741 6,141 625 1,889 3,503 582 872 400 111 193 427 2,273 Other assets5 45,153 1,170 21,175 797 1,736 4,690 4,005 2,515 821 571 933 2,134 4,605 Interdistrict settlement account 0+ 5,159+ 108,443+ 689- 12,870- 49,554- 30,145- 37,885- 4,165- 3,382- 13,027- 19,583 + 56,320 Total assets 7,402,434 184,939 4,013,713 112,956 274,837 685,830 467,357 372,944 104,221 49,012 77,119 309,194 750,313 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 24, 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 2,293,908 84,758 745,443 51,205 110,232 161,338 355,294 120,780 71,927 30,808 38,733 196,301 327,088 Reverse repurchase agreements6 809,259 16,832 435,495 12,057 31,557 80,666 54,143 44,661 11,324 5,056 8,898 35,340 73,231 Deposits 4,405,663 75,969 2,918,342 49,644 135,144 460,835 55,676 216,529 19,829 12,974 29,429 77,762 353,532 Depository institutions 3,271,706 75,915 1,883,870 49,643 135,113 460,403 55,648 117,830 19,825 12,916 29,397 77,650 353,496 U.S. Treasury, General Account 929,379 0 929,379 0 0 0 0 0 0 0 0 0 0 Foreign official 27,504 2 27,477 1 4 8 1 2 1 0 0 1 5 Other7 177,074 52 77,615 0 27 423 27 98,697 3 57 32 111 30 Earnings remittances due to the U.S. Treasury8 -165,390 -3,266 -103,460 -1,650 -6,993 -26,446 110 -11,608 13 -212 -576 -1,592 -9,712 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 8,416 1,399 3,039 189 319 983 665 456 148 115 178 249 675 Total liabilities 7,359,294 183,131 3,998,859 111,446 270,259 677,376 465,888 370,819 103,242 48,740 76,661 308,060 744,813 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 7,402,434 184,939 4,013,713 112,956 274,837 685,830 467,357 372,944 104,221 49,012 77,119 309,194 750,313 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 24, 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 24, 2024 Federal Reserve notes outstanding 2,736,248 Less: Notes held by F.R. Banks not subject to collateralization 442,340 Federal Reserve notes to be collateralized 2,293,908 Collateral held against Federal Reserve notes 2,293,908 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,277,671 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,926,871 Less: Face value of securities under reverse repurchase agreements 951,421 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,975,450 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.