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 18, 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 17, 2024 Federal Reserve Banks Jul 17, 2024 Jul 10, 2024 Jul 19, 2023 Reserve Bank credit 7,175,816 - 6,312 -1,073,918 7,167,173 Securities held outright1 6,770,215 - 6,116 - 864,129 6,761,831 U.S. Treasury securities 4,431,899 - 6,088 - 661,993 4,423,552 Bills2 195,293 0 - 68,620 195,293 Notes and bonds, nominal2 3,771,060 - 1,683 - 583,828 3,768,759 Notes and bonds, inflation-indexed2 347,619 - 3,467 - 19,033 342,996 Inflation compensation3 117,927 - 939 + 9,487 116,505 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,335,969 - 28 - 202,135 2,335,932 Unamortized premiums on securities held outright5 263,040 - 409 - 31,653 262,938 Unamortized discounts on securities held outright5 -24,603 - 68 + 2,750 -24,496 Repurchase agreements6 115 + 100 + 111 100 Foreign official 100 + 99 + 100 100 Others 15 + 1 + 11 0 Loans 113,254 - 2,411 - 160,084 112,687 Primary credit 6,746 + 143 + 3,980 6,634 Secondary credit 0 0 0 0 Seasonal credit 67 0 + 37 70 Paycheck Protection Program Liquidity Facility 2,767 - 30 - 4,073 2,735 Bank Term Funding Program 103,673 - 2,526 + 1,094 103,248 Other credit extensions7 0 0 - 161,123 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 11,053 - 135 - 8,815 10,869 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,599 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,641 0 Float -305 + 75 - 154 -279 Central bank liquidity swaps9 163 + 29 - 72 163 Other Federal Reserve assets10 42,885 + 2,624 - 4,632 43,359 Foreign currency denominated assets11 17,965 + 210 - 970 18,053 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,008 + 14 + 728 53,008 Total factors supplying reserve funds 7,268,031 - 6,087 -1,069,159 7,259,475 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 17, 2024 Federal Reserve Banks Jul 17, 2024 Jul 10, 2024 Jul 19, 2023 Currency in circulation12 2,352,418 - 5,323 + 14,170 2,350,408 Reverse repurchase agreements13 801,011 - 2,332 -1,260,116 790,041 Foreign official and international accounts 394,475 - 532 + 71,598 390,640 Others 406,536 - 1,800 -1,331,714 399,401 Treasury cash holdings 407 + 2 + 163 402 Deposits with F.R. Banks, other than reserve balances 910,418 + 17,004 + 186,377 923,081 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 751,593 + 15,191 + 220,458 766,779 Foreign official 9,685 0 - 1 9,684 Other14 149,140 + 1,814 - 34,080 146,617 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -132,606 - 4,886 - 102,322 -131,861 Total factors, other than reserve balances, absorbing reserve funds 3,936,606 + 4,465 -1,170,128 3,937,028 Reserve balances with Federal Reserve Banks 3,331,425 - 10,552 + 100,968 3,322,446 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 17, 2024 Jul 17, 2024 Jul 10, 2024 Jul 19, 2023 Securities held in custody for foreign official and international accounts 3,311,442 - 755 - 120,046 3,315,041 Marketable U.S. Treasury securities1 2,925,457 - 354 - 69,860 2,929,223 Federal agency debt and mortgage-backed securities2 305,757 - 409 - 48,548 305,540 Other securities3 80,228 + 8 - 1,639 80,277 Securities lent to dealers 36,483 + 600 - 1,406 38,987 Overnight facility4 36,483 + 600 - 1,406 38,987 U.S. Treasury securities 36,483 + 600 - 1,406 38,987 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 17, 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 1,664 5,109 103,561 2,354 0 ... 112,687 U.S. Treasury securities2 Holdings 57,058 184,932 544,310 1,479,567 637,630 1,520,056 4,423,552 Weekly changes - 5,939 - 21,852 + 9,873 + 8,361 - 8,610 + 3,625 - 14,543 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 2,302,869 2,335,932 Weekly changes 0 0 0 0 0 - 64 - 65 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,971 ... ... 5,971 Repurchase agreements6 100 0 ... ... ... ... 100 Central bank liquidity swaps7 163 0 0 0 0 0 163 Reverse repurchase agreements6 790,041 0 ... ... ... ... 790,041 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 17, 2024 Mortgage-backed securities held outright1 2,335,932 Residential mortgage-backed securities 2,327,790 Commercial mortgage-backed securities 8,142 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 17, 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) 4,903 5,060 5,808 10,869 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 17, 2024 Jul 10, 2024 Jul 19, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,427 + 8 + 54 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,113,061 - 17,839 -1,049,691 Securities held outright1 6,761,831 - 14,607 - 861,610 U.S. Treasury securities 4,423,552 - 14,543 - 659,484 Bills2 195,293 0 - 68,324 Notes and bonds, nominal2 3,768,759 - 4,026 - 578,213 Notes and bonds, inflation-indexed2 342,996 - 8,090 - 21,553 Inflation compensation3 116,505 - 2,426 + 8,608 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,335,932 - 65 - 202,127 Unamortized premiums on securities held outright5 262,938 - 349 - 31,546 Unamortized discounts on securities held outright5 -24,496 - 12 + 2,763 Repurchase agreements6 100 + 99 + 75 Loans7 112,687 - 2,970 - 159,374 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,869 - 330 - 8,844 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,601 Net portfolio holdings of TALF II LLC8 0 0 - 1,642 Items in process of collection (0) 78 + 25 + 23 Bank premises 429 + 5 - 23 Central bank liquidity swaps9 163 + 41 - 72 Foreign currency denominated assets10 18,053 + 318 - 810 Other assets11 42,931 + 1,940 - 4,697 Total assets (0) 7,208,247 - 15,832 -1,066,305 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 17, 2024 Jul 10, 2024 Jul 19, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,299,224 - 5,659 + 13,997 Reverse repurchase agreements12 790,041 - 31,202 -1,268,644 Deposits (0) 4,245,527 + 25,728 + 298,306 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,322,446 - 18,601 + 101,856 U.S. Treasury, General Account 766,779 + 44,451 + 229,338 Foreign official 9,684 - 1 - 2 Other13 (0) 146,617 - 121 - 32,887 Deferred availability cash items (0) 357 + 15 + 139 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -175,159 - 4,716 - 102,587 Total liabilities (0) 7,164,949 - 15,833 -1,067,189 Capital accounts Capital paid in 36,512 0 + 883 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,297 0 + 883 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 17, 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 1,427 40 38 166 44 182 106 249 32 50 99 176 246 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,113,061 158,036 3,779,770 106,829 276,347 707,222 477,779 394,128 104,036 49,535 85,574 315,593 658,213 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,869 10,869 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 163 7 56 6 17 32 5 8 4 1 2 4 21 Foreign currency denominated assets4 18,053 753 6,244 636 1,920 3,561 591 886 407 113 197 434 2,311 Other assets5 43,438 1,222 20,087 762 1,682 4,546 3,908 2,413 871 578 980 2,101 4,289 Interdistrict settlement account 0- 899+ 16,996+ 22,934+ 12,465- 41,105- 16,369- 35,403+ 320- 3,518- 15,761- 5,549 + 65,888 Total assets 7,208,247 170,757 3,829,809 131,989 293,473 675,995 469,019 363,698 106,304 47,114 71,689 314,544 733,855 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 17, 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 2,299,224 87,526 741,498 56,608 115,957 161,750 356,017 111,004 74,263 28,230 34,114 201,687 330,570 Reverse repurchase agreements6 790,041 16,433 425,153 11,771 30,808 78,750 52,857 43,601 11,055 4,935 8,687 34,500 71,492 Deposits 4,245,527 62,354 2,758,947 63,888 149,631 455,502 57,940 219,345 19,821 13,739 28,848 78,333 337,178 Depository institutions 3,322,446 62,301 1,932,589 63,887 149,599 455,286 57,913 123,172 19,815 13,667 28,817 78,260 337,141 U.S. Treasury, General Account 766,779 0 766,779 0 0 0 0 0 0 0 0 0 0 Foreign official 9,684 2 9,658 1 4 8 1 2 1 0 0 1 5 Other7 146,617 51 49,921 0 28 208 26 96,171 5 71 31 72 32 Earnings remittances due to the U.S. Treasury8 -182,699 -3,536 -113,566 -1,979 -7,797 -29,460 99 -12,831 26 -187 -601 -1,369 -11,497 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 7,897 1,188 2,908 184 304 909 647 445 156 124 181 233 617 Total liabilities 7,164,949 168,924 3,814,941 130,471 288,902 667,451 467,558 361,564 105,321 46,842 71,229 313,385 728,361 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 7,208,247 170,757 3,829,809 131,989 293,473 675,995 469,019 363,698 106,304 47,114 71,689 314,544 733,855 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 17, 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 17, 2024 Federal Reserve notes outstanding 2,762,130 Less: Notes held by F.R. Banks not subject to collateralization 462,906 Federal Reserve notes to be collateralized 2,299,224 Collateral held against Federal Reserve notes 2,299,224 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,277,987 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,761,931 Less: Face value of securities under reverse repurchase agreements 911,674 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,850,258 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.