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 September 5, 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 Sep 4, 2024 Federal Reserve Banks Sep 4, 2024 Aug 28, 2024 Sep 6, 2023 Reserve Bank credit 7,078,707 - 12,482 - 986,604 7,070,165 Securities held outright1 6,698,043 - 11,014 - 792,481 6,690,962 U.S. Treasury securities 4,395,898 - 2,853 - 593,409 4,388,817 Bills2 195,293 0 - 63,768 195,293 Notes and bonds, nominal2 3,739,540 - 2,897 - 515,303 3,732,403 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 344,044 Inflation compensation3 117,022 + 44 + 7,000 117,077 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,299,798 - 8,160 - 199,072 2,299,798 Unamortized premiums on securities held outright5 259,030 - 599 - 30,791 258,808 Unamortized discounts on securities held outright5 -24,741 + 17 + 2,822 -24,660 Repurchase agreements6 0 0 - 3 0 Foreign official 0 0 - 1 0 Others 0 0 - 2 0 Loans 103,187 - 369 - 146,374 102,447 Primary credit 1,995 + 230 - 54 1,517 Secondary credit 0 0 0 0 Seasonal credit 94 - 4 + 20 98 Paycheck Protection Program Liquidity Facility 2,499 - 36 - 3,135 2,497 Bank Term Funding Program 98,599 - 560 - 9,059 98,335 Other credit extensions7 0 0 - 134,147 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,652 + 15 - 8,888 10,663 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,618 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,215 0 Float -607 - 297 - 303 -840 Central bank liquidity swaps9 137 - 8 - 95 137 Other Federal Reserve assets10 33,006 - 228 - 3,657 32,648 Foreign currency denominated assets11 18,767 - 53 + 617 18,771 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,031 + 14 + 728 53,031 Total factors supplying reserve funds 7,171,746 - 12,521 - 980,258 7,163,208 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 Sep 4, 2024 Federal Reserve Banks Sep 4, 2024 Aug 28, 2024 Sep 6, 2023 Currency in circulation12 2,354,232 + 6,506 + 20,261 2,356,084 Reverse repurchase agreements13 811,836 + 71,332 -1,078,420 744,252 Foreign official and international accounts 411,397 + 5,459 + 110,084 406,940 Others 400,439 + 65,874 -1,188,503 337,312 Treasury cash holdings 356 - 19 + 27 342 Deposits with F.R. Banks, other than reserve balances 898,539 - 20,990 + 248,292 933,213 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 733,959 - 11,892 + 263,078 771,047 Foreign official 9,767 + 85 - 117 9,826 Other14 154,814 - 9,181 - 14,668 152,339 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -141,179 + 1,212 - 97,732 -140,246 Total factors, other than reserve balances, absorbing reserve funds 3,928,744 + 58,043 - 915,969 3,898,603 Reserve balances with Federal Reserve Banks 3,243,002 - 70,564 - 64,289 3,264,604 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 Sep 4, 2024 Sep 4, 2024 Aug 28, 2024 Sep 6, 2023 Securities held in custody for foreign official and international accounts 3,308,311 + 7,935 - 122,322 3,313,394 Marketable U.S. Treasury securities1 2,930,606 + 8,338 - 66,272 2,935,477 Federal agency debt and mortgage-backed securities2 298,206 - 86 - 53,121 298,245 Other securities3 79,498 - 318 - 2,930 79,672 Securities lent to dealers 32,832 + 143 - 10,122 36,433 Overnight facility4 32,832 + 143 - 10,122 36,433 U.S. Treasury securities 32,832 + 143 - 10,122 36,433 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, September 4, 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 824 993 98,563 2,066 0 ... 102,447 U.S. Treasury securities2 Holdings 12,163 240,316 536,489 1,482,687 590,245 1,526,917 4,388,817 Weekly changes - 29,176 + 28,346 + 852 - 9,914 - 1,309 + 1,298 - 9,904 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 21 6,219 24,819 2,268,739 2,299,798 Weekly changes 0 + 1 + 1 + 101 + 106 - 207 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,526 ... ... 5,526 Repurchase agreements6 0 0 ... ... ... ... 0 Central bank liquidity swaps7 137 0 0 0 0 0 137 Reverse repurchase agreements6 744,252 0 ... ... ... ... 744,252 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 Sep 4, 2024 Mortgage-backed securities held outright1 2,299,798 Residential mortgage-backed securities 2,291,676 Commercial mortgage-backed securities 8,121 Commitments to buy mortgage-backed securities2 0 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 Sep 4, 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) 4,625 4,736 5,926 10,663 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 Sep 4, 2024 Aug 28, 2024 Sep 6, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,496 0 + 83 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,027,557 - 11,094 - 973,616 Securities held outright1 6,690,962 - 9,904 - 798,727 U.S. Treasury securities 4,388,817 - 9,904 - 599,654 Bills2 195,293 0 - 62,868 Notes and bonds, nominal2 3,732,403 - 9,991 - 522,440 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 Inflation compensation3 117,077 + 86 + 6,990 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,299,798 0 - 199,072 Unamortized premiums on securities held outright5 258,808 - 474 - 30,845 Unamortized discounts on securities held outright5 -24,660 + 9 + 2,821 Repurchase agreements6 0 0 - 6 Loans7 102,447 - 725 - 146,860 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,663 + 16 - 8,893 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,621 Net portfolio holdings of TALF II LLC8 0 0 - 1,216 Items in process of collection (0) 58 + 12 - 21 Bank premises 422 - 10 - 14 Central bank liquidity swaps9 137 - 8 - 95 Foreign currency denominated assets10 18,771 - 35 + 754 Other assets11 32,226 + 448 - 5,112 Total assets (0) 7,112,567 - 10,671 - 988,751 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Change since Eliminations from Wednesday Assets, liabilities, and capital Wednesday Wednesday consolidation Sep 4, 2024 Aug 28, 2024 Sep 6, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,304,887 + 5,481 + 20,464 Reverse repurchase agreements12 744,252 - 57,749 -1,155,626 Deposits (0) 4,197,818 + 39,560 + 251,478 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,264,605 + 19,646 - 25,870 U.S. Treasury, General Account 771,047 + 13,970 + 289,495 Foreign official 9,826 + 147 - 627 Other13 (0) 152,339 + 5,797 - 11,522 Deferred availability cash items (0) 898 + 311 + 49 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -183,664 + 1,718 - 97,413 Total liabilities (0) 7,069,150 - 10,678 - 989,448 Capital accounts Capital paid in 36,633 + 8 + 698 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,418 + 8 + 698 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, September 4, 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 1,496 52 52 170 43 198 102 253 33 50 102 187 253 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,027,557 155,813 3,734,775 105,419 273,299 699,489 471,905 389,626 102,872 48,502 84,510 311,753 649,595 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,663 10,663 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 137 6 47 5 15 27 4 7 3 1 1 3 18 Foreign currency denominated assets4 18,771 783 6,492 661 1,997 3,703 615 921 423 117 204 451 2,403 Other assets5 32,707 1,051 14,029 599 1,238 3,454 3,132 1,827 911 540 878 1,658 3,390 Interdistrict settlement account 0+ 3,407- 89,828+ 45,784+ 29,301- 70,086- 2,641- 31,332+ 9,954+ 1,782- 11,858+ 15,906 + 99,610 Total assets 7,112,567 172,503 3,672,186 153,296 306,890 638,342 476,117 362,718 114,831 51,347 74,437 331,746 758,156 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, September 4, 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 2,304,887 86,077 744,447 55,782 115,562 163,059 358,276 109,422 77,923 29,698 30,441 202,838 331,364 Reverse repurchase agreements6 744,252 15,480 400,512 11,088 29,022 74,186 49,793 41,074 10,414 4,649 8,183 32,501 67,348 Deposits 4,197,818 66,504 2,628,095 86,880 165,638 422,556 65,230 223,081 25,316 16,784 35,789 96,273 365,670 Depository institutions 3,264,605 66,448 1,794,091 86,879 165,604 422,009 65,202 124,759 25,309 16,713 35,760 96,193 365,639 U.S. Treasury, General Account 771,047 0 771,047 0 0 0 0 0 0 0 0 0 0 Foreign official 9,826 2 9,800 1 4 8 1 2 1 0 0 1 5 Other7 152,339 55 53,157 0 29 539 27 98,320 7 71 29 80 26 Earnings remittances due to the U.S. Treasury8 -195,050 -3,712 -120,654 -2,296 -8,393 -31,345 60 -13,694 0 -205 -672 -1,394 -12,745 Treasury contributions to credit facilities9 4,958 4,958 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 12,284 1,353 4,908 317 487 1,326 1,290 692 188 146 230 340 1,008 Total liabilities 7,069,150 170,661 3,657,309 151,770 302,316 629,782 474,650 360,574 113,841 51,071 73,971 330,558 752,645 Capital Capital paid in 36,633 1,559 12,531 1,286 3,852 7,221 1,244 1,810 837 233 392 1,025 4,642 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 7,112,567 172,503 3,672,186 153,296 306,890 638,342 476,117 362,718 114,831 51,347 74,437 331,746 758,156 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, September 4, 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 Sep 4, 2024 Federal Reserve notes outstanding 2,773,263 Less: Notes held by F.R. Banks not subject to collateralization 468,376 Federal Reserve notes to be collateralized 2,304,887 Collateral held against Federal Reserve notes 2,304,887 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,283,650 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,690,962 Less: Face value of securities under reverse repurchase agreements 837,914 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,853,047 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.