H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time August 1, 2024 In table 4, the outstanding amount of facility asset purchases for MS Facilities 2020 LLC (Main Street Lending Program) reflects the quarterly update to the allowance for credit losses. The allowance for credit losses was estimated based upon the Main Street Lending Program holdings as of June 30, 2024.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 1, 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 31, 2024 Federal Reserve Banks Jul 31, 2024 Jul 24, 2024 Aug 2, 2023 Reserve Bank credit 7,145,768 - 20,326 -1,044,353 7,136,425 Securities held outright1 6,742,902 - 17,459 - 842,841 6,734,152 U.S. Treasury securities 4,422,365 - 1,296 - 643,472 4,413,615 Bills2 195,293 0 - 64,129 195,293 Notes and bonds, nominal2 3,767,140 - 1,619 - 566,387 3,757,428 Notes and bonds, inflation-indexed2 343,146 + 150 - 21,403 344,044 Inflation compensation3 116,786 + 173 + 8,447 116,850 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,318,190 - 16,163 - 199,369 2,318,190 Unamortized premiums on securities held outright5 261,751 - 832 - 31,281 261,590 Unamortized discounts on securities held outright5 -24,425 + 82 + 2,737 -24,370 Repurchase agreements6 1 0 - 357 5 Foreign official 0 0 - 357 0 Others 1 0 0 5 Loans 111,561 - 411 - 152,391 111,755 Primary credit 6,613 - 77 + 4,519 6,925 Secondary credit 1 + 1 + 1 0 Seasonal credit 71 + 1 + 31 66 Paycheck Protection Program Liquidity Facility 2,700 - 19 - 3,712 2,698 Bank Term Funding Program 102,176 - 318 - 3,276 102,066 Other credit extensions7 0 0 - 149,954 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,867 - 3 - 8,868 10,878 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,605 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,615 0 Float -419 - 196 + 66 -1,029 Central bank liquidity swaps9 155 - 4 - 80 155 Other Federal Reserve assets10 43,375 - 1,502 - 4,117 43,289 Foreign currency denominated assets11 18,089 + 88 - 504 18,210 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,036 + 14 + 728 53,036 Total factors supplying reserve funds 7,238,134 - 20,223 -1,039,129 7,228,912 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 31, 2024 Federal Reserve Banks Jul 31, 2024 Jul 24, 2024 Aug 2, 2023 Currency in circulation12 2,347,307 - 623 + 14,112 2,348,663 Reverse repurchase agreements13 784,093 - 4,577 -1,278,796 813,261 Foreign official and international accounts 400,273 - 409 + 88,431 400,061 Others 383,820 - 4,168 -1,367,227 413,200 Treasury cash holdings 402 0 + 137 404 Deposits with F.R. Banks, other than reserve balances 943,816 + 5,524 + 230,304 1,018,358 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 786,486 + 12,171 + 269,027 854,001 Foreign official 9,684 - 57 - 2 9,685 Other14 147,646 - 6,591 - 38,722 154,673 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -135,961 - 5,485 - 100,471 -135,433 Total factors, other than reserve balances, absorbing reserve funds 3,944,615 - 5,162 -1,143,115 4,050,212 Reserve balances with Federal Reserve Banks 3,293,519 - 15,061 + 103,986 3,178,700 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 31, 2024 Jul 31, 2024 Jul 24, 2024 Aug 2, 2023 Securities held in custody for foreign official and international accounts 3,301,178 - 9,518 - 144,402 3,300,046 Marketable U.S. Treasury securities1 2,919,882 - 6,876 - 91,304 2,918,537 Federal agency debt and mortgage-backed securities2 301,107 - 2,649 - 51,420 301,237 Other securities3 80,190 + 8 - 1,677 80,272 Securities lent to dealers 36,193 - 3,587 - 4,344 35,851 Overnight facility4 36,193 - 3,587 - 4,344 35,851 U.S. Treasury securities 36,193 - 3,587 - 4,344 35,851 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 31, 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 1,878 5,198 102,375 2,303 0 ... 111,755 U.S. Treasury securities2 Holdings 84,041 135,154 562,900 1,472,796 637,850 1,520,874 4,413,615 Weekly changes + 20,102 - 43,586 + 19,257 - 6,849 + 199 + 767 - 10,110 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 25 6,183 25,652 2,286,331 2,318,190 Weekly changes 0 - 1 - 6 - 112 - 590 - 13,315 - 14,026 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,847 ... ... 5,847 Repurchase agreements6 5 0 ... ... ... ... 5 Central bank liquidity swaps7 155 0 0 0 0 0 155 Reverse repurchase agreements6 813,261 0 ... ... ... ... 813,261 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 31, 2024 Mortgage-backed securities held outright1 2,318,190 Residential mortgage-backed securities 2,310,058 Commercial mortgage-backed securities 8,132 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 31, 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 4,946 5,932 10,878 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 June 30, 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 31, 2024 Jul 24, 2024 Aug 2, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,434 + 6 + 39 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,083,132 - 25,015 -1,012,670 Securities held outright1 6,734,152 - 24,135 - 833,779 U.S. Treasury securities 4,413,615 - 10,110 - 634,410 Bills2 195,293 0 - 64,129 Notes and bonds, nominal2 3,757,428 - 11,331 - 558,171 Notes and bonds, inflation-indexed2 344,044 + 1,048 - 20,505 Inflation compensation3 116,850 + 173 + 8,395 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,318,190 - 14,026 - 199,369 Unamortized premiums on securities held outright5 261,590 - 750 - 31,237 Unamortized discounts on securities held outright5 -24,370 + 54 + 2,699 Repurchase agreements6 5 + 5 + 4 Loans7 111,755 - 189 - 150,356 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,878 - 2 - 8,874 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,607 Net portfolio holdings of TALF II LLC8 0 0 - 1,577 Items in process of collection (0) 55 - 5 - 3 Bank premises 438 + 6 + 1 Central bank liquidity swaps9 155 - 4 - 80 Foreign currency denominated assets10 18,210 + 117 - 336 Other assets11 42,850 - 2,169 - 4,269 Total assets (0) 7,178,391 - 27,064 -1,028,373 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 31, 2024 Jul 24, 2024 Aug 2, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,297,461 + 980 + 14,393 Reverse repurchase agreements12 813,261 + 7,294 -1,259,148 Deposits (0) 4,197,058 - 30,483 + 324,236 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,178,700 - 97,185 - 38,698 U.S. Treasury, General Account 854,001 + 86,582 + 393,075 Foreign official 9,685 + 1 - 1 Other13 (0) 154,673 - 19,879 - 30,139 Deferred availability cash items (0) 1,085 + 755 + 481 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -178,730 - 5,610 - 100,691 Total liabilities (0) 7,135,093 - 27,065 -1,029,129 Capital accounts Capital paid in 36,512 0 + 755 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,297 0 + 755 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 31, 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 1,434 43 41 165 46 184 104 248 33 49 100 177 245 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,083,132 157,435 3,764,153 106,393 275,208 704,533 475,780 392,466 103,572 49,311 85,197 314,279 654,805 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,878 10,878 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 155 6 54 5 16 31 5 8 3 1 2 4 20 Foreign currency denominated assets4 18,210 759 6,311 640 1,935 3,588 596 893 410 114 198 437 2,329 Other assets5 43,344 1,236 19,984 760 1,678 4,506 3,889 2,410 880 607 991 2,110 4,293 Interdistrict settlement account 0+ 17,951- 31,743+ 17,181+ 21,097- 41,397- 8,756- 34,490+ 3,029- 3,326- 12,667- 5,893 + 79,013 Total assets 7,178,391 189,038 3,765,418 125,802 300,978 673,002 474,617 362,953 108,561 47,111 74,420 312,900 743,591 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 31, 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 2,297,461 86,751 742,562 56,531 115,527 160,999 356,340 110,565 75,303 28,127 32,877 201,280 330,599 Reverse repurchase agreements6 813,261 16,916 437,649 12,117 31,713 81,065 54,410 44,882 11,380 5,081 8,942 35,514 73,593 Deposits 4,197,058 80,964 2,683,076 57,499 156,824 451,553 60,935 218,003 20,726 13,700 32,574 76,073 345,132 Depository institutions 3,178,700 80,909 1,767,421 57,497 156,791 451,278 60,906 116,034 20,720 13,551 32,541 75,950 345,102 U.S. Treasury, General Account 854,001 0 854,001 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 154,673 53 51,996 0 29 266 27 101,968 5 149 32 122 25 Earnings remittances due to the U.S. Treasury8 -186,266 -3,584 -115,632 -2,049 -7,949 -30,037 61 -13,068 13 -192 -618 -1,364 -11,849 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 8,620 1,200 2,895 187 291 879 1,410 435 156 123 185 238 621 Total liabilities 7,135,093 187,204 3,750,550 124,285 296,407 664,458 473,157 360,818 107,578 46,839 73,959 311,741 738,097 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 7,178,391 189,038 3,765,418 125,802 300,978 673,002 474,617 362,953 108,561 47,111 74,420 312,900 743,591 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 31, 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 31, 2024 Federal Reserve notes outstanding 2,764,625 Less: Notes held by F.R. Banks not subject to collateralization 467,164 Federal Reserve notes to be collateralized 2,297,461 Collateral held against Federal Reserve notes 2,297,461 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,276,224 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,734,157 Less: Face value of securities under reverse repurchase agreements 901,937 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,832,221 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.