H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time May 2, 2024 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 credit losses. The allowance for credit losses was estimated based upon the Main Street Lending Program holdings as of March 31, 2024.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 2, 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 May 1, 2024 Federal Reserve Banks May 1, 2024 Apr 24, 2024 May 3, 2023 Reserve Bank credit 7,343,381 - 24,417 -1,160,208 7,326,278 Securities held outright1 6,908,206 - 20,427 - 917,342 6,892,302 U.S. Treasury securities 4,533,810 - 5,744 - 713,611 4,517,906 Bills2 195,143 0 - 85,823 195,143 Notes and bonds, nominal2 3,874,914 - 6,441 - 621,837 3,858,685 Notes and bonds, inflation-indexed2 350,058 + 31 - 15,353 350,136 Inflation compensation3 113,696 + 666 + 9,404 113,942 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,372,049 - 14,683 - 203,731 2,372,049 Unamortized premiums on securities held outright5 268,824 - 799 - 33,070 268,656 Unamortized discounts on securities held outright5 -24,849 + 71 + 2,557 -24,771 Repurchase agreements6 2 - 16 + 2 0 Foreign official 1 0 + 1 0 Others 1 - 16 + 1 0 Loans 134,742 - 778 - 194,889 133,883 Primary credit 7,013 + 169 - 43,686 6,791 Secondary credit 87 + 10 + 87 0 Seasonal credit 10 - 1 + 7 13 Paycheck Protection Program Liquidity Facility 2,965 - 31 - 5,580 2,962 Bank Term Funding Program 124,667 - 925 + 46,348 124,117 Other credit extensions7 0 0 - 192,066 0 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 14,124 - 383 - 8,098 14,114 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,614 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,902 0 Float -454 - 211 + 24 -615 Central bank liquidity swaps9 124 - 13 - 286 124 Other Federal Reserve assets10 42,663 - 1,860 - 1,590 42,586 Foreign currency denominated assets11 17,696 - 53 - 1,141 17,674 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding12 52,854 + 14 + 680 52,854 Total factors supplying reserve funds 7,430,172 - 24,456 -1,160,669 7,413,047 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 May 1, 2024 Federal Reserve Banks May 1, 2024 Apr 24, 2024 May 3, 2023 Currency in circulation12 2,345,037 + 139 + 19,685 2,346,816 Reverse repurchase agreements13 840,572 + 60,424 -1,837,770 798,065 Foreign official and international accounts 366,775 + 2,572 - 23,627 359,917 Others 473,797 + 57,851 -1,814,143 438,148 Treasury cash holdings 450 + 3 + 263 444 Deposits with F.R. Banks, other than reserve balances 1,097,047 - 15,246 + 613,060 1,055,744 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 917,177 - 24,253 + 647,961 890,442 Foreign official 23,765 + 7,935 + 14,080 9,694 Other14 156,105 + 1,073 - 48,981 155,609 Treasury contributions to credit facilities15 7,438 0 - 7,909 7,438 Other liabilities and capital16 -113,106 + 1,854 - 111,026 -112,403 Total factors, other than reserve balances, absorbing reserve funds 4,177,439 + 47,174 -1,323,696 4,096,104 Reserve balances with Federal Reserve Banks 3,252,733 - 71,630 + 163,027 3,316,943 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 May 1, 2024 May 1, 2024 Apr 24, 2024 May 3, 2023 Securities held in custody for foreign official and international accounts 3,354,761 - 190 - 18,081 3,357,481 Marketable U.S. Treasury securities1 2,958,488 + 1,991 + 5,838 2,961,121 Federal agency debt and mortgage-backed securities2 315,409 - 1,884 - 23,240 315,407 Other securities3 80,865 - 296 - 677 80,953 Securities lent to dealers 32,408 + 1,991 - 12,943 36,828 Overnight facility4 32,408 + 1,991 - 12,943 36,828 U.S. Treasury securities 32,408 + 1,991 - 12,927 36,828 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, May 1, 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 16,248 7,742 106,943 2,950 0 ... 133,883 U.S. Treasury securities2 Holdings 94,329 184,358 545,252 1,505,775 678,459 1,509,733 4,517,906 Weekly changes + 33,078 - 57,144 + 19,816 - 12,146 - 5,750 + 253 - 21,893 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 38 5,490 28,112 2,338,409 2,372,049 Weekly changes 0 - 1 + 4 - 117 - 661 - 11,896 - 12,671 Loan participations held by MS Facilities LLC (Main Street Lending Program)5 0 0 0 6,694 ... ... 6,694 Repurchase agreements6 0 0 ... ... ... ... 0 Central bank liquidity swaps7 124 0 0 0 0 0 124 Reverse repurchase agreements6 798,065 0 ... ... ... ... 798,065 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 May 1, 2024 Mortgage-backed securities held outright1 2,372,049 Residential mortgage-backed securities 2,363,883 Commercial mortgage-backed securities 8,166 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 May 1, 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 5,611 8,503 14,114 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 credit losses updated as of March 31, 2024. 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 May 1, 2024 Apr 24, 2024 May 3, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,515 - 2 + 224 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,270,070 - 37,044 -1,122,929 Securities held outright1 6,892,302 - 34,564 - 908,510 U.S. Treasury securities 4,517,906 - 21,893 - 704,778 Bills2 195,143 0 - 85,823 Notes and bonds, nominal2 3,858,685 - 22,670 - 613,185 Notes and bonds, inflation-indexed2 350,136 + 109 - 15,275 Inflation compensation3 113,942 + 668 + 9,505 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,372,049 - 12,671 - 203,731 Unamortized premiums on securities held outright5 268,656 - 728 - 33,027 Unamortized discounts on securities held outright5 -24,771 + 62 + 2,562 Repurchase agreements6 0 - 5 0 Loans7 133,883 - 1,810 - 183,954 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 14,114 - 404 - 8,123 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,615 Net portfolio holdings of TALF II LLC8 0 0 - 1,898 Items in process of collection (0) 63 + 11 + 3 Bank premises 438 - 18 - 3 Central bank liquidity swaps9 124 - 13 - 286 Foreign currency denominated assets10 17,674 - 84 - 1,198 Other assets11 42,240 - 2,406 - 1,694 Total assets (0) 7,362,474 - 39,960 -1,141,520 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 May 1, 2024 Apr 24, 2024 May 3, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,295,917 + 2,009 + 17,551 Reverse repurchase agreements12 798,065 - 11,194 -1,842,886 Deposits (0) 4,372,779 - 32,884 + 802,044 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,317,035 + 45,329 + 150,799 U.S. Treasury, General Account 890,442 - 38,937 + 702,133 Foreign official 9,694 - 17,810 + 18 Other13 (0) 155,609 - 21,465 - 50,905 Deferred availability cash items (0) 678 + 348 + 123 Treasury contributions to credit facilities14 7,438 0 - 7,909 Other liabilities and accrued dividends15 -155,544 + 1,760 - 111,379 Total liabilities (0) 7,319,334 - 39,960 -1,142,455 Capital accounts Capital paid in 36,355 - 1 + 935 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,140 - 1 + 935 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, May 1, 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 1,515 46 50 164 49 193 105 269 31 55 107 178 269 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,270,070 162,056 3,853,786 108,860 281,870 722,100 488,043 404,054 106,102 51,120 87,917 323,481 680,680 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 14,114 14,114 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 124 5 43 4 13 24 4 6 3 1 1 3 16 Foreign currency denominated assets4 17,674 737 6,121 622 1,879 3,484 579 867 398 111 192 425 2,261 Other assets5 42,741 1,216 19,772 736 1,643 4,404 3,851 2,377 809 593 921 2,028 4,392 Interdistrict settlement account 0+ 11,477+ 36,719+ 5,901- 2,560- 36,343- 22,744- 36,194- 1,788- 2,623- 10,374- 14,752 + 73,279 Total assets 7,362,474 190,214 3,921,619 116,804 283,655 695,065 472,107 372,488 106,038 49,529 79,225 312,673 763,058 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, May 1, 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 2,295,917 86,070 743,386 51,479 110,527 161,583 355,730 120,036 71,966 30,606 38,916 197,248 328,371 Reverse repurchase agreements6 798,065 16,599 429,471 11,890 31,121 79,550 53,394 44,043 11,167 4,986 8,775 34,851 72,218 Deposits 4,372,779 80,530 2,833,096 53,359 144,017 470,764 60,359 217,305 21,730 13,739 31,420 80,680 365,780 Depository institutions 3,317,035 80,476 1,879,858 53,358 143,984 470,226 60,333 115,811 21,725 13,645 31,387 80,481 365,751 U.S. Treasury, General Account 890,442 0 890,442 0 0 0 0 0 0 0 0 0 0 Foreign official 9,694 2 9,667 1 4 8 1 2 1 0 0 1 5 Other7 155,609 52 53,129 0 29 530 25 101,492 4 94 32 198 24 Earnings remittances due to the U.S. Treasury8 -166,728 -3,322 -104,214 -1,674 -7,054 -26,681 109 -11,709 12 -204 -569 -1,568 -9,852 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 11,862 1,090 5,026 241 466 1,395 1,046 687 184 131 225 330 1,041 Total liabilities 7,319,334 188,405 3,906,765 115,295 279,077 686,610 470,638 370,362 105,059 49,257 78,767 311,540 757,558 Capital Capital paid in 36,355 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 7,362,474 190,214 3,921,619 116,804 283,655 695,065 472,107 372,488 106,038 49,529 79,225 312,673 763,058 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, May 1, 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 May 1, 2024 Federal Reserve notes outstanding 2,739,121 Less: Notes held by F.R. Banks not subject to collateralization 443,205 Federal Reserve notes to be collateralized 2,295,917 Collateral held against Federal Reserve notes 2,295,917 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,279,680 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,892,302 Less: Face value of securities under reverse repurchase agreements 944,677 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,947,626 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.