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 12, 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 11, 2024 Federal Reserve Banks Sep 11, 2024 Sep 4, 2024 Sep 13, 2023 Reserve Bank credit 7,072,128 - 6,579 - 990,076 7,073,099 Securities held outright1 6,691,062 - 6,981 - 793,524 6,691,162 U.S. Treasury securities 4,388,918 - 6,980 - 594,451 4,389,017 Bills2 195,293 0 - 57,671 195,293 Notes and bonds, nominal2 3,732,425 - 7,115 - 522,379 3,732,478 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 344,044 Inflation compensation3 117,156 + 134 + 6,935 117,202 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,299,798 0 - 199,072 2,299,798 Unamortized premiums on securities held outright5 258,525 - 505 - 30,818 258,370 Unamortized discounts on securities held outright5 -24,570 + 171 + 2,861 -24,491 Repurchase agreements6 17 + 17 + 11 9 Foreign official 1 + 1 - 3 5 Others 15 + 15 + 13 4 Loans 101,975 - 1,212 - 147,344 101,798 Primary credit 1,518 - 477 - 661 1,568 Secondary credit 0 0 0 0 Seasonal credit 97 + 3 + 20 104 Paycheck Protection Program Liquidity Facility 2,462 - 37 - 3,029 2,459 Bank Term Funding Program 97,898 - 701 - 9,968 97,667 Other credit extensions7 0 0 - 133,706 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,664 + 12 - 8,896 10,674 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,621 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,217 0 Float -274 + 333 - 100 -299 Central bank liquidity swaps9 137 0 - 93 137 Other Federal Reserve assets10 34,592 + 1,586 - 5,335 35,739 Foreign currency denominated assets11 18,841 + 74 + 800 18,818 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,045 + 14 + 728 53,045 Total factors supplying reserve funds 7,165,254 - 6,492 - 983,549 7,166,203 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 11, 2024 Federal Reserve Banks Sep 11, 2024 Sep 4, 2024 Sep 13, 2023 Currency in circulation12 2,354,364 + 132 + 22,542 2,353,156 Reverse repurchase agreements13 709,306 - 102,530 -1,115,856 699,224 Foreign official and international accounts 417,639 + 6,242 + 121,136 420,009 Others 291,667 - 108,772 -1,236,992 279,215 Treasury cash holdings 342 - 14 - 1 340 Deposits with F.R. Banks, other than reserve balances 921,383 + 22,844 + 229,130 894,077 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 755,958 + 21,999 + 234,451 725,577 Foreign official 9,735 - 32 - 89 9,679 Other14 155,691 + 877 - 5,230 158,820 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -145,917 - 4,738 - 96,323 -145,292 Total factors, other than reserve balances, absorbing reserve funds 3,844,437 - 84,307 - 968,907 3,806,461 Reserve balances with Federal Reserve Banks 3,320,818 + 77,816 - 14,641 3,359,741 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 11, 2024 Sep 11, 2024 Sep 4, 2024 Sep 13, 2023 Securities held in custody for foreign official and international accounts 3,314,472 + 6,161 - 120,307 3,314,947 Marketable U.S. Treasury securities1 2,936,608 + 6,002 - 64,267 2,937,107 Federal agency debt and mortgage-backed securities2 298,198 - 8 - 52,908 298,345 Other securities3 79,666 + 168 - 3,133 79,495 Securities lent to dealers 35,482 + 2,650 - 6,168 35,511 Overnight facility4 35,482 + 2,650 - 6,168 35,511 U.S. Treasury securities 35,482 + 2,650 - 6,168 35,511 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 11, 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 1,059 909 97,799 2,030 0 ... 101,798 U.S. Treasury securities2 Holdings 11,920 240,015 537,050 1,482,818 590,261 1,526,953 4,389,017 Weekly changes - 243 - 301 + 561 + 131 + 16 + 36 + 200 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 0 0 0 0 0 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,513 ... ... 5,513 Repurchase agreements6 9 0 ... ... ... ... 9 Central bank liquidity swaps7 137 0 0 0 0 0 137 Reverse repurchase agreements6 699,224 0 ... ... ... ... 699,224 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 11, 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 11, 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 4,719 5,956 10,674 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 11, 2024 Sep 4, 2024 Sep 13, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,504 + 8 + 72 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,026,847 - 710 - 968,285 Securities held outright1 6,691,162 + 200 - 792,534 U.S. Treasury securities 4,389,017 + 200 - 593,462 Bills2 195,293 0 - 56,689 Notes and bonds, nominal2 3,732,478 + 75 - 522,340 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 Inflation compensation3 117,202 + 125 + 6,903 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,299,798 0 - 199,072 Unamortized premiums on securities held outright5 258,370 - 438 - 30,784 Unamortized discounts on securities held outright5 -24,491 + 169 + 2,842 Repurchase agreements6 9 + 9 + 9 Loans7 101,798 - 649 - 147,817 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,674 + 11 - 8,905 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,623 Net portfolio holdings of TALF II LLC8 0 0 - 1,218 Items in process of collection (0) 44 - 14 - 13 Bank premises 422 0 - 17 Central bank liquidity swaps9 137 0 - 93 Foreign currency denominated assets10 18,818 + 47 + 763 Other assets11 35,317 + 3,091 - 5,460 Total assets (0) 7,115,001 + 2,434 - 983,778 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 11, 2024 Sep 4, 2024 Sep 13, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,301,951 - 2,936 + 22,749 Reverse repurchase agreements12 699,224 - 45,028 -1,136,410 Deposits (0) 4,253,818 + 56,000 + 234,251 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,359,741 + 95,136 + 49,210 U.S. Treasury, General Account 725,577 - 45,470 + 188,213 Foreign official 9,679 - 147 - 10 Other13 (0) 158,820 + 6,481 - 3,163 Deferred availability cash items (0) 343 - 555 + 64 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -188,710 - 5,046 - 96,729 Total liabilities (0) 7,071,583 + 2,433 - 984,476 Capital accounts Capital paid in 36,633 0 + 698 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,418 0 + 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 11, 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 1,504 53 49 168 43 200 106 254 35 54 102 187 254 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,026,847 155,715 3,734,652 105,416 273,292 699,456 471,745 389,581 102,843 48,434 84,478 311,705 649,528 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,674 10,674 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 18,818 785 6,508 663 2,002 3,712 617 924 424 118 205 452 2,409 Other assets5 35,783 1,122 15,660 646 1,359 3,763 3,318 1,997 958 563 919 1,797 3,682 Interdistrict settlement account 0- 2,709- 50,157+ 47,939+ 39,053- 83,622- 7,061- 36,205+ 8,758+ 2,243- 13,827+ 9,129 + 86,459 Total assets 7,115,001 166,375 3,713,379 155,494 316,759 625,094 471,728 357,975 113,655 51,768 72,478 325,061 745,236 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 11, 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 2,301,951 85,936 745,114 55,607 115,589 163,759 357,657 108,307 77,559 30,286 30,333 202,136 329,666 Reverse repurchase agreements6 699,224 14,544 376,281 10,418 27,266 69,698 46,781 38,589 9,784 4,368 7,688 30,535 63,273 Deposits 4,253,818 61,559 2,695,697 90,084 177,492 413,569 65,114 222,304 25,171 16,926 34,494 92,355 359,054 Depository institutions 3,359,741 61,498 1,906,463 90,083 177,446 412,662 65,086 118,744 25,163 16,861 34,465 92,262 359,007 U.S. Treasury, General Account 725,577 0 725,577 0 0 0 0 0 0 0 0 0 0 Foreign official 9,679 2 9,653 1 4 8 1 2 1 0 0 1 5 Other7 158,820 59 54,003 0 42 899 26 103,558 7 65 28 92 42 Earnings remittances due to the U.S. Treasury8 -196,665 -3,739 -121,496 -2,363 -8,498 -31,554 55 -13,819 0 -213 -697 -1,413 -12,928 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 8,298 1,276 2,907 222 336 1,063 654 451 151 124 194 261 659 Total liabilities 7,071,583 164,533 3,698,502 153,969 312,185 616,534 470,261 355,831 112,666 51,492 72,012 323,873 739,725 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 7,115,001 166,375 3,713,379 155,494 316,759 625,094 471,728 357,975 113,655 51,768 72,478 325,061 745,236 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 11, 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 11, 2024 Federal Reserve notes outstanding 2,774,982 Less: Notes held by F.R. Banks not subject to collateralization 473,032 Federal Reserve notes to be collateralized 2,301,951 Collateral held against Federal Reserve notes 2,301,951 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,280,714 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,691,171 Less: Face value of securities under reverse repurchase agreements 775,276 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,915,894 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.