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 June 27, 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 Jun 26, 2024 Federal Reserve Banks Jun 26, 2024 Jun 19, 2024 Jun 28, 2023 Reserve Bank credit 7,207,812 - 13,221 -1,109,827 7,195,440 Securities held outright1 6,802,167 - 12,935 - 892,270 6,791,915 U.S. Treasury securities 4,453,415 - 4,660 - 691,844 4,453,571 Bills2 195,293 + 75 - 76,871 195,293 Notes and bonds, nominal2 3,788,720 - 5,152 - 608,203 3,788,720 Notes and bonds, inflation-indexed2 351,111 0 - 17,139 351,111 Inflation compensation3 118,291 + 417 + 10,369 118,447 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,346,405 - 8,275 - 200,426 2,335,997 Unamortized premiums on securities held outright5 264,599 - 671 - 31,943 264,205 Unamortized discounts on securities held outright5 -24,788 + 215 + 2,665 -24,692 Repurchase agreements6 7 - 10 + 7 1 Foreign official 1 - 2 + 1 0 Others 6 - 8 + 6 1 Loans 116,624 - 303 - 168,097 116,481 Primary credit 6,921 + 353 + 3,522 7,026 Secondary credit 0 0 0 0 Seasonal credit 52 + 10 + 25 52 Paycheck Protection Program Liquidity Facility 2,849 - 19 - 4,609 2,847 Bank Term Funding Program 106,802 - 647 + 3,848 106,556 Other credit extensions7 0 0 - 170,884 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 11,161 - 126 - 8,770 11,173 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,590 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,714 0 Float -312 - 59 - 99 -390 Central bank liquidity swaps9 123 + 3 - 187 124 Other Federal Reserve assets10 38,230 + 664 - 3,829 36,623 Foreign currency denominated assets11 17,661 - 98 - 694 17,603 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding12 52,966 + 14 + 721 52,966 Total factors supplying reserve funds 7,294,680 - 13,305 -1,109,799 7,282,250 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 Jun 26, 2024 Federal Reserve Banks Jun 26, 2024 Jun 19, 2024 Jun 28, 2023 Currency in circulation12 2,352,241 + 2,036 + 10,785 2,352,646 Reverse repurchase agreements13 825,043 + 59,988 -1,470,944 879,766 Foreign official and international accounts 390,137 + 7,230 + 59,891 389,610 Others 434,906 + 52,759 -1,530,835 490,156 Treasury cash holdings 410 - 1 + 192 409 Deposits with F.R. Banks, other than reserve balances 932,877 + 54,279 + 330,401 898,647 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 765,417 + 42,007 + 374,846 744,206 Foreign official 9,683 0 - 2 9,682 Other14 157,777 + 12,272 - 44,443 144,759 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -123,496 + 2,020 - 102,914 -123,071 Total factors, other than reserve balances, absorbing reserve funds 3,992,033 + 118,322 -1,240,879 4,013,355 Reserve balances with Federal Reserve Banks 3,302,647 - 131,627 + 131,080 3,268,895 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 2020 LLC of $5.0 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 Jun 26, 2024 Jun 26, 2024 Jun 19, 2024 Jun 28, 2023 Securities held in custody for foreign official and international accounts 3,314,230 + 4,446 - 118,173 3,307,305 Marketable U.S. Treasury securities1 2,926,814 + 6,936 - 71,428 2,920,502 Federal agency debt and mortgage-backed securities2 306,825 - 2,168 - 45,332 306,483 Other securities3 80,591 - 322 - 1,413 80,320 Securities lent to dealers 38,624 + 1,855 - 3,497 39,900 Overnight facility4 38,624 + 1,855 - 3,497 39,900 U.S. Treasury securities 38,624 + 1,855 - 3,490 39,900 Federal agency debt securities 0 0 - 7 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, June 26, 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 1,965 7,359 104,474 2,682 0 ... 116,481 U.S. Treasury securities2 Holdings 46,454 219,055 535,109 1,489,439 647,692 1,515,822 4,453,571 Weekly changes + 18,712 - 18,728 + 146 + 183 + 66 + 121 + 500 Federal agency debt securities3 Holdings 0 0 0 486 1,861 0 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 0 24 5,673 26,883 2,303,415 2,335,997 Weekly changes 0 - 1 - 7 - 89 - 644 - 17,904 - 18,643 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 6,248 ... ... 6,248 Repurchase agreements6 1 0 ... ... ... ... 1 Central bank liquidity swaps7 124 0 0 0 0 0 124 Reverse repurchase agreements6 879,766 0 ... ... ... ... 879,766 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 2020 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 2020 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 Jun 26, 2024 Mortgage-backed securities held outright1 2,335,997 Residential mortgage-backed securities 2,327,852 Commercial mortgage-backed securities 8,144 Commitments to buy mortgage-backed securities2 81 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 Jun 26, 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 2020 LLC (Main Street Lending Program) 5,250 5,245 5,928 11,173 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 Jun 26, 2024 Jun 19, 2024 Jun 28, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,447 - 2 + 111 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,147,910 - 19,259 -1,088,467 Securities held outright1 6,791,915 - 18,143 - 893,650 U.S. Treasury securities 4,453,571 + 500 - 691,509 Bills2 195,293 + 75 - 76,510 Notes and bonds, nominal2 3,788,720 0 - 608,203 Notes and bonds, inflation-indexed2 351,111 0 - 17,117 Inflation compensation3 118,447 + 425 + 10,321 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,335,997 - 18,643 - 202,141 Unamortized premiums on securities held outright5 264,205 - 914 - 31,927 Unamortized discounts on securities held outright5 -24,692 + 238 + 2,654 Repurchase agreements6 1 0 + 1 Loans7 116,481 - 441 - 165,545 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 11,173 + 14 - 8,776 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,593 Net portfolio holdings of TALF II LLC8 0 0 - 1,715 Items in process of collection (0) 45 - 7 - 5 Bank premises 432 - 2 - 31 Central bank liquidity swaps9 124 + 4 - 186 Foreign currency denominated assets10 17,603 - 162 - 721 Other assets11 36,192 - 1,964 - 4,368 Total assets (0) 7,231,163 - 21,379 -1,109,751 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 Jun 26, 2024 Jun 19, 2024 Jun 28, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,301,532 + 717 + 8,216 Reverse repurchase agreements12 879,766 + 114,897 -1,392,105 Deposits (0) 4,167,543 - 138,828 + 385,283 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,268,896 - 97,271 + 92,858 U.S. Treasury, General Account 744,206 - 37,952 + 335,645 Foreign official 9,682 0 - 3 Other13 (0) 144,759 - 3,604 - 43,216 Deferred availability cash items (0) 435 + 175 - 103 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -166,364 + 1,653 - 103,521 Total liabilities (0) 7,187,869 - 21,386 -1,110,630 Capital accounts Capital paid in 36,508 + 6 + 878 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,293 + 6 + 878 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 2020 LLC of $5.0 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, June 26, 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 1,447 39 42 166 46 189 108 253 29 51 100 171 253 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,147,910 158,775 3,796,677 107,246 277,574 711,173 480,257 396,975 104,600 49,772 85,957 317,216 661,688 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 11,173 11,173 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 17,603 734 6,088 620 1,873 3,473 577 864 396 110 192 423 2,253 Other assets5 36,669 1,057 16,569 659 1,415 3,880 3,438 2,059 744 528 874 1,795 3,650 Interdistrict settlement account 0+ 6,906+ 29,864+ 15,489+ 10,543- 70,423- 11,909- 34,293+ 593- 4,266- 8,012- 2,910 + 68,418 Total assets 7,231,163 179,253 3,854,411 124,702 292,225 649,520 474,742 366,972 106,850 46,467 79,572 318,010 738,440 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, June 26, 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 2,301,532 87,719 740,914 56,457 115,388 162,784 356,194 112,334 73,625 27,807 35,184 202,325 330,802 Reverse repurchase agreements6 879,766 18,299 473,438 13,107 34,306 87,694 58,860 48,552 12,311 5,496 9,673 38,419 79,611 Deposits 4,167,543 68,673 2,730,882 55,258 145,010 417,676 57,323 215,753 19,736 12,944 34,625 77,182 332,481 Depository institutions 3,268,896 68,620 1,926,360 55,256 144,978 417,441 57,296 122,292 19,731 12,824 34,597 77,072 332,430 U.S. Treasury, General Account 744,206 0 744,206 0 0 0 0 0 0 0 0 0 0 Foreign official 9,682 2 9,656 1 4 8 1 2 1 0 0 1 5 Other7 144,759 51 50,660 0 27 227 26 93,460 4 120 28 109 46 Earnings remittances due to the U.S. Treasury8 -178,465 -3,486 -111,028 -1,891 -7,569 -28,824 66 -12,507 9 -196 -604 -1,414 -11,021 Treasury contributions to credit facilities9 4,958 4,958 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 12,536 1,256 5,338 261 519 1,647 839 704 186 145 232 339 1,068 Total liabilities 7,187,869 177,419 3,839,543 123,192 287,654 640,976 473,283 364,837 105,867 46,195 79,111 316,851 732,941 Capital Capital paid in 36,508 1,550 12,522 1,271 3,849 7,205 1,237 1,801 830 230 387 996 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 7,231,163 179,253 3,854,411 124,702 292,225 649,520 474,742 366,972 106,850 46,467 79,572 318,010 738,440 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, June 26, 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 2020 LLC of $5.0 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 2020 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 2020 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 2020 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 Jun 26, 2024 Federal Reserve notes outstanding 2,761,865 Less: Notes held by F.R. Banks not subject to collateralization 460,333 Federal Reserve notes to be collateralized 2,301,532 Collateral held against Federal Reserve notes 2,301,532 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,285,295 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,791,916 Less: Face value of securities under reverse repurchase agreements 995,492 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,796,424 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.