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 25, 2024 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Jul 24, 2024 Federal Reserve Banks Jul 24, 2024 Jul 17, 2024 Jul 26, 2023 Reserve Bank credit 7,166,094 - 9,722 -1,055,172 7,164,367 Securities held outright1 6,760,361 - 9,854 - 851,845 6,758,287 U.S. Treasury securities 4,423,661 - 8,238 - 657,498 4,423,725 Bills2 195,293 0 - 66,278 195,293 Notes and bonds, nominal2 3,768,759 - 2,301 - 578,213 3,768,759 Notes and bonds, inflation-indexed2 342,996 - 4,623 - 21,553 342,996 Inflation compensation3 116,613 - 1,314 + 8,546 116,677 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,334,353 - 1,616 - 194,347 2,332,216 Unamortized premiums on securities held outright5 262,583 - 457 - 31,275 262,340 Unamortized discounts on securities held outright5 -24,507 + 96 + 2,755 -24,424 Repurchase agreements6 1 - 114 0 0 Foreign official 0 - 100 0 0 Others 1 - 14 + 1 0 Loans 111,972 - 1,282 - 155,583 111,944 Primary credit 6,690 - 56 + 4,356 6,751 Secondary credit 0 0 0 0 Seasonal credit 70 + 3 + 33 68 Paycheck Protection Program Liquidity Facility 2,719 - 48 - 3,944 2,715 Bank Term Funding Program 102,494 - 1,179 - 1,722 102,410 Other credit extensions7 0 0 - 154,306 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,870 - 183 - 8,846 10,880 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,601 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,642 0 Float -223 + 82 - 58 -270 Central bank liquidity swaps9 159 - 4 - 96 159 Other Federal Reserve assets10 44,877 + 1,992 - 2,981 45,450 Foreign currency denominated assets11 18,001 + 36 - 696 18,093 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,022 + 14 + 728 53,022 Total factors supplying reserve funds 7,258,357 - 9,674 -1,050,141 7,256,723 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 24, 2024 Federal Reserve Banks Jul 24, 2024 Jul 17, 2024 Jul 26, 2023 Currency in circulation12 2,347,930 - 4,488 + 14,330 2,347,678 Reverse repurchase agreements13 788,670 - 12,341 -1,283,945 805,967 Foreign official and international accounts 400,682 + 6,207 + 81,577 406,846 Others 387,988 - 18,548 -1,365,522 399,121 Treasury cash holdings 402 - 5 + 151 401 Deposits with F.R. Banks, other than reserve balances 938,292 + 27,874 + 192,358 951,656 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 774,315 + 22,722 + 230,718 767,419 Foreign official 9,741 + 56 + 56 9,684 Other14 154,237 + 5,097 - 38,414 174,552 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -130,476 + 2,130 - 100,972 -129,822 Total factors, other than reserve balances, absorbing reserve funds 3,949,777 + 13,171 -1,186,477 3,980,838 Reserve balances with Federal Reserve Banks 3,308,580 - 22,845 + 136,336 3,275,885 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 24, 2024 Jul 24, 2024 Jul 17, 2024 Jul 26, 2023 Securities held in custody for foreign official and international accounts 3,310,696 - 746 - 119,550 3,301,100 Marketable U.S. Treasury securities1 2,926,758 + 1,301 - 68,796 2,919,394 Federal agency debt and mortgage-backed securities2 303,756 - 2,001 - 49,050 301,564 Other securities3 80,182 - 46 - 1,704 80,142 Securities lent to dealers 39,780 + 3,297 + 2,815 40,002 Overnight facility4 39,780 + 3,297 + 2,815 40,002 U.S. Treasury securities 39,780 + 3,297 + 2,815 40,002 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 24, 2024 Millions of dollars Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 Remaining Maturity All days 90 days 1 year to 5 years to 10 years years Loans1 1,806 5,092 102,718 2,328 0 ... 111,944 U.S. Treasury securities2 Holdings 63,939 178,740 543,643 1,479,645 637,651 1,520,107 4,423,725 Weekly changes + 6,881 - 6,192 - 667 + 78 + 21 + 51 + 173 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 26,242 2,299,646 2,332,216 Weekly changes 0 0 0 0 - 494 - 3,223 - 3,716 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,915 ... ... 5,915 Repurchase agreements6 0 0 ... ... ... ... 0 Central bank liquidity swaps7 159 0 0 0 0 0 159 Reverse repurchase agreements6 805,967 0 ... ... ... ... 805,967 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 24, 2024 Mortgage-backed securities held outright1 2,332,216 Residential mortgage-backed securities 2,324,074 Commercial mortgage-backed securities 8,142 Commitments to buy mortgage-backed securities2 0 Commitments to sell mortgage-backed securities2 67 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 24, 2024 Net portfolio holdings of Credit Facilities LLC Outstanding Credit Facilities LLC: principal Outstanding amount amount of Treasury of loan facility contributions extended to asset and the LLC1 purchases2 other assets3 Total MS Facilities 2020 LLC (Main Street Lending Program) 4,903 5,003 5,877 10,880 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 24, 2024 Jul 17, 2024 Jul 26, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,428 + 1 + 45 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,108,147 - 4,914 -1,025,347 Securities held outright1 6,758,287 - 3,544 - 842,601 U.S. Treasury securities 4,423,725 + 173 - 657,256 Bills2 195,293 0 - 66,001 Notes and bonds, nominal2 3,768,759 0 - 578,213 Notes and bonds, inflation-indexed2 342,996 0 - 21,553 Inflation compensation3 116,677 + 172 + 8,512 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,332,216 - 3,716 - 185,343 Unamortized premiums on securities held outright5 262,340 - 598 - 31,048 Unamortized discounts on securities held outright5 -24,424 + 72 + 2,731 Repurchase agreements6 0 - 100 - 1 Loans7 111,944 - 743 - 154,428 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,880 + 11 - 8,854 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,604 Net portfolio holdings of TALF II LLC8 0 0 - 1,644 Items in process of collection (0) 60 - 18 + 11 Bank premises 432 + 3 - 16 Central bank liquidity swaps9 159 - 4 - 96 Foreign currency denominated assets10 18,093 + 40 - 616 Other assets11 45,019 + 2,088 - 769 Total assets (0) 7,205,455 - 2,792 -1,037,889 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 24, 2024 Jul 17, 2024 Jul 26, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,296,481 - 2,743 + 13,652 Reverse repurchase agreements12 805,967 + 15,926 -1,261,008 Deposits (0) 4,227,541 - 17,986 + 318,309 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,275,885 - 46,561 + 109,118 U.S. Treasury, General Account 767,419 + 640 + 217,522 Foreign official 9,684 0 - 1 Other13 (0) 174,552 + 27,935 - 8,331 Deferred availability cash items (0) 330 - 27 + 25 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -173,120 + 2,039 - 101,351 Total liabilities (0) 7,162,158 - 2,791 -1,038,772 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 24, 2024 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Assets Gold certificates and special drawing rights certificates 21,237 729 6,619 657 997 1,557 2,999 1,417 635 355 599 1,786 2,887 Coin 1,428 40 40 165 45 183 103 249 32 49 100 176 246 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,108,147 157,975 3,777,496 106,772 276,186 706,786 477,469 393,898 103,924 49,476 85,518 315,570 657,075 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,880 10,880 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 159 7 55 6 17 31 5 8 4 1 2 4 20 Foreign currency denominated assets4 18,093 755 6,257 637 1,925 3,569 593 888 407 113 197 435 2,316 Other assets5 45,511 1,276 21,173 794 1,763 4,756 4,029 2,530 904 605 1,010 2,197 4,475 Interdistrict settlement account 0- 2,370+ 15,982+ 16,605+ 2,114- 22,102- 14,600- 43,413+ 1,123- 3,020- 14,927- 5,520 + 70,126 Total assets 7,205,455 169,292 3,827,623 125,636 283,046 694,780 470,598 355,577 107,030 47,581 72,499 314,648 737,146 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 24, 2024 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes, net 2,296,481 87,087 742,045 56,162 115,173 161,335 356,251 110,876 74,408 28,236 33,461 201,367 330,081 Reverse repurchase agreements6 805,967 16,764 433,723 12,008 31,429 80,338 53,922 44,480 11,278 5,035 8,862 35,196 72,933 Deposits 4,227,541 60,938 2,746,531 57,712 139,283 472,909 58,162 210,354 20,174 14,085 30,110 77,969 339,315 Depository institutions 3,275,885 60,885 1,890,947 57,710 139,240 472,193 58,134 115,323 20,169 14,030 30,078 77,898 339,277 U.S. Treasury, General Account 767,419 0 767,419 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 174,552 51 78,505 0 39 708 26 95,029 4 56 32 70 32 Earnings remittances due to the U.S. Treasury8 -184,399 -3,555 -114,547 -2,013 -7,870 -29,740 74 -12,938 8 -188 -606 -1,360 -11,665 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 11,609 1,267 5,003 249 460 1,396 728 670 179 140 211 317 989 Total liabilities 7,162,158 167,459 3,812,755 124,118 278,475 686,237 469,138 353,442 106,047 47,308 72,038 313,489 731,652 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 7,205,455 169,292 3,827,623 125,636 283,046 694,780 470,598 355,577 107,030 47,581 72,499 314,648 737,146 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 24, 2024 (continued) 1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions. 2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. 3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. 4. Revalued daily at current foreign currency exchange rates. 5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. 6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. 8. The Federal Reserve Banks remit residual net earnings to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume. 9. Book value. Amount of equity investments in MS Facilities 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 24, 2024 Federal Reserve notes outstanding 2,763,373 Less: Notes held by F.R. Banks not subject to collateralization 466,891 Federal Reserve notes to be collateralized 2,296,481 Collateral held against Federal Reserve notes 2,296,481 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,275,245 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,758,287 Less: Face value of securities under reverse repurchase agreements 899,969 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,858,318 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.