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 July 11, 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 Jul 10, 2024 Federal Reserve Banks Jul 10, 2024 Jul 3, 2024 Jul 12, 2023 Reserve Bank credit 7,182,128 - 7,640 -1,078,298 7,183,345 Securities held outright1 6,776,331 - 8,944 - 868,633 6,776,438 U.S. Treasury securities 4,437,987 - 8,945 - 666,491 4,438,095 Bills2 195,293 0 - 71,481 195,293 Notes and bonds, nominal2 3,772,743 - 9,127 - 588,082 3,772,785 Notes and bonds, inflation-indexed2 351,086 - 4 - 17,142 351,086 Inflation compensation3 118,866 + 186 + 10,215 118,931 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,335,997 0 - 202,141 2,335,997 Unamortized premiums on securities held outright5 263,449 - 449 - 31,781 263,287 Unamortized discounts on securities held outright5 -24,535 + 68 + 2,746 -24,484 Repurchase agreements6 15 + 10 + 13 1 Foreign official 1 - 2 + 1 1 Others 14 + 12 + 12 0 Loans 115,665 - 675 - 159,982 115,657 Primary credit 6,603 - 522 + 3,772 6,803 Secondary credit 0 0 0 0 Seasonal credit 67 + 9 + 41 69 Paycheck Protection Program Liquidity Facility 2,797 - 28 - 4,197 2,788 Bank Term Funding Program 106,199 - 133 + 4,193 105,998 Other credit extensions7 0 0 - 163,790 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 11,188 + 10 - 8,784 11,199 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,596 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,639 0 Float -380 + 206 - 218 -289 Central bank liquidity swaps9 134 - 77 - 109 122 Other Federal Reserve assets10 40,261 + 2,211 - 4,313 41,414 Foreign currency denominated assets11 17,755 + 86 - 785 17,735 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 52,994 + 14 + 728 52,994 Total factors supplying reserve funds 7,274,118 - 7,540 -1,073,355 7,275,315 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 Jul 10, 2024 Federal Reserve Banks Jul 10, 2024 Jul 3, 2024 Jul 12, 2023 Currency in circulation12 2,357,741 + 3,337 + 13,086 2,356,054 Reverse repurchase agreements13 803,343 - 135,355 -1,338,652 821,243 Foreign official and international accounts 395,007 + 5,802 + 71,454 399,096 Others 408,336 - 141,157 -1,410,105 422,147 Treasury cash holdings 405 - 3 + 158 408 Deposits with F.R. Banks, other than reserve balances 893,414 - 35,219 + 187,454 878,751 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 736,402 - 24,971 + 222,065 722,328 Foreign official 9,685 0 - 22 9,685 Other14 147,326 - 10,249 - 34,591 146,738 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -127,720 + 1,904 - 102,371 -127,146 Total factors, other than reserve balances, absorbing reserve funds 3,932,141 - 165,337 -1,248,725 3,934,269 Reserve balances with Federal Reserve Banks 3,341,977 + 157,797 + 175,370 3,341,046 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 Jul 10, 2024 Jul 10, 2024 Jul 3, 2024 Jul 12, 2023 Securities held in custody for foreign official and international accounts 3,312,197 - 6,445 - 124,801 3,309,649 Marketable U.S. Treasury securities1 2,925,811 - 6,215 - 76,721 2,923,464 Federal agency debt and mortgage-backed securities2 306,166 - 215 - 46,183 305,949 Other securities3 80,220 - 15 - 1,897 80,235 Securities lent to dealers 35,883 - 5,644 - 6,504 39,754 Overnight facility4 35,883 - 5,644 - 6,504 39,754 U.S. Treasury securities 35,883 - 5,644 - 6,504 39,754 Federal agency debt securities 0 0 0 0 Note: Components may not sum to totals because of rounding. 1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6. 2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities. 3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. 4. Face value. Fully collateralized by U.S. Treasury securities.

H.4.1 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, July 10, 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 3,511 5,373 104,359 2,414 0 ... 115,657 U.S. Treasury securities2 Holdings 62,997 206,784 534,437 1,471,206 646,240 1,516,431 4,438,095 Weekly changes - 472 + 4,153 - 3,662 + 65 + 23 + 93 + 201 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 1 31 6,295 26,736 2,302,933 2,335,997 Weekly changes 0 0 0 0 0 0 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 6,087 ... ... 6,087 Repurchase agreements6 1 0 ... ... ... ... 1 Central bank liquidity swaps7 122 0 0 0 0 0 122 Reverse repurchase agreements6 821,243 0 ... ... ... ... 821,243 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 Jul 10, 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 Jul 10, 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 5,178 6,021 11,199 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 Jul 10, 2024 Jul 3, 2024 Jul 12, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,419 - 5 + 72 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,130,900 - 65 -1,056,165 Securities held outright1 6,776,438 + 200 - 868,395 U.S. Treasury securities 4,438,095 + 201 - 666,253 Bills2 195,293 0 - 71,251 Notes and bonds, nominal2 3,772,785 + 50 - 588,040 Notes and bonds, inflation-indexed2 351,086 0 - 17,142 Inflation compensation3 118,931 + 151 + 10,181 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,335,997 0 - 202,141 Unamortized premiums on securities held outright5 263,287 - 382 - 31,766 Unamortized discounts on securities held outright5 -24,484 + 17 + 2,704 Repurchase agreements6 1 - 3 - 2 Loans7 115,657 + 102 - 158,707 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 11,199 + 13 - 8,793 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,598 Net portfolio holdings of TALF II LLC8 0 0 - 1,641 Items in process of collection (0) 53 - 3 - 12 Bank premises 424 + 2 - 26 Central bank liquidity swaps9 122 - 89 - 121 Foreign currency denominated assets10 17,735 + 22 - 1,120 Other assets11 40,991 + 2,685 - 4,440 Total assets (0) 7,224,079 + 2,559 -1,072,844 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 Jul 10, 2024 Jul 3, 2024 Jul 12, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,304,883 - 2,254 + 13,228 Reverse repurchase agreements12 821,243 + 9,935 -1,326,600 Deposits (0) 4,219,799 - 6,246 + 351,335 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,341,047 + 18,882 + 178,921 U.S. Treasury, General Account 722,328 - 23,280 + 204,910 Foreign official 9,685 + 1 - 1 Other13 (0) 146,738 - 1,851 - 32,495 Deferred availability cash items (0) 342 - 486 + 37 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -170,443 + 1,611 - 103,325 Total liabilities (0) 7,180,782 + 2,560 -1,073,725 Capital accounts Capital paid in 36,512 0 + 881 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,297 0 + 881 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, July 10, 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 21,237 729 6,619 657 997 1,557 2,999 1,417 635 355 599 1,786 2,887 Coin 1,419 39 38 165 46 184 102 248 29 50 99 170 249 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,130,900 158,347 3,787,794 107,043 276,934 709,508 479,181 395,812 104,269 49,651 85,749 316,615 659,997 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 11,199 11,199 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 122 5 42 4 13 24 4 6 3 1 1 3 16 Foreign currency denominated assets4 17,735 740 6,134 624 1,887 3,498 581 870 399 111 193 426 2,270 Other assets5 41,468 1,172 19,063 730 1,597 4,363 3,758 2,322 821 588 936 2,014 4,104 Interdistrict settlement account 0- 1,506- 24,764+ 17,055+ 32,195- 39,955- 13,873- 36,643+ 694- 3,987- 16,304- 5,980 + 93,068 Total assets 7,224,079 170,725 3,794,926 126,280 313,669 679,180 472,753 364,033 106,849 46,769 71,273 315,034 762,590 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, July 10, 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 2,304,883 87,795 740,753 56,677 116,544 162,923 356,506 112,102 74,478 27,939 34,459 202,619 332,087 Reverse repurchase agreements6 821,243 17,082 441,944 12,236 32,024 81,860 54,944 45,323 11,492 5,130 9,030 35,863 74,315 Deposits 4,219,799 61,338 2,705,260 57,565 167,809 453,696 59,106 216,536 19,728 13,487 27,726 76,473 361,075 Depository institutions 3,341,047 61,284 1,924,543 57,564 167,776 453,306 59,078 119,220 19,723 13,428 27,697 76,397 361,030 U.S. Treasury, General Account 722,328 0 722,328 0 0 0 0 0 0 0 0 0 0 Foreign official 9,685 2 9,659 1 4 8 1 2 1 0 0 1 5 Other7 146,738 52 48,730 0 28 383 27 97,314 4 58 29 75 40 Earnings remittances due to the U.S. Treasury8 -181,595 -3,542 -112,756 -1,963 -7,745 -29,284 24 -12,741 0 -195 -615 -1,396 -11,382 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 11,494 1,261 4,857 248 466 1,441 711 679 168 135 212 315 1,001 Total liabilities 7,180,782 168,892 3,780,058 124,762 309,098 670,637 471,292 361,898 105,866 46,496 70,812 313,874 757,096 Capital Capital paid in 36,512 1,550 12,522 1,279 3,849 7,205 1,238 1,801 830 230 387 996 4,625 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 7,224,079 170,725 3,794,926 126,280 313,669 679,180 472,753 364,033 106,849 46,769 71,273 315,034 762,590 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, July 10, 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 Jul 10, 2024 Federal Reserve notes outstanding 2,761,837 Less: Notes held by F.R. Banks not subject to collateralization 456,954 Federal Reserve notes to be collateralized 2,304,883 Collateral held against Federal Reserve notes 2,304,883 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,283,646 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,776,439 Less: Face value of securities under reverse repurchase agreements 956,961 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,819,479 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.