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 19, 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 18, 2024 Federal Reserve Banks Sep 18, 2024 Sep 11, 2024 Sep 20, 2023 Reserve Bank credit 7,071,412 - 716 - 931,571 7,067,059 Securities held outright1 6,689,010 - 2,052 - 775,603 6,686,082 U.S. Treasury securities 4,386,895 - 2,023 - 577,115 4,384,005 Bills2 195,293 0 - 52,589 195,293 Notes and bonds, nominal2 3,730,277 - 2,148 - 510,038 3,727,342 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 344,044 Inflation compensation3 117,281 + 125 + 6,848 117,327 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,299,769 - 29 - 198,487 2,299,730 Unamortized premiums on securities held outright5 258,072 - 453 - 30,649 257,898 Unamortized discounts on securities held outright5 -24,374 + 196 + 2,790 -24,287 Repurchase agreements6 9 - 8 + 7 0 Foreign official 4 + 3 + 4 0 Others 4 - 11 + 2 0 Loans 100,654 - 1,321 - 108,148 98,685 Primary credit 1,436 - 82 - 1,747 1,376 Secondary credit 0 0 0 0 Seasonal credit 107 + 10 + 29 109 Paycheck Protection Program Liquidity Facility 2,419 - 43 - 2,993 2,415 Bank Term Funding Program 96,691 - 1,207 - 11,067 94,785 Other credit extensions7 0 0 - 92,371 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,547 - 117 - 8,802 10,385 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,624 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,218 0 Float -278 - 4 - 75 -348 Central bank liquidity swaps9 157 + 20 - 90 157 Other Federal Reserve assets10 37,615 + 3,023 - 4,159 38,486 Foreign currency denominated assets11 18,935 + 94 + 947 18,931 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,059 + 14 + 728 53,059 Total factors supplying reserve funds 7,164,647 - 607 - 924,895 7,160,289 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 18, 2024 Federal Reserve Banks Sep 18, 2024 Sep 11, 2024 Sep 20, 2023 Currency in circulation12 2,350,924 - 3,440 + 24,800 2,350,585 Reverse repurchase agreements13 701,440 - 7,866 -1,045,247 723,605 Foreign official and international accounts 422,744 + 5,105 + 117,469 417,774 Others 278,696 - 12,971 -1,162,716 305,831 Treasury cash holdings 338 - 4 - 6 327 Deposits with F.R. Banks, other than reserve balances 937,437 + 16,054 + 117,785 1,007,011 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 771,194 + 15,236 + 130,898 839,398 Foreign official 9,681 - 54 - 7 9,682 Other14 156,562 + 871 - 13,106 157,931 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -143,731 + 2,186 - 95,458 -143,019 Total factors, other than reserve balances, absorbing reserve funds 3,851,366 + 6,929 -1,006,527 3,943,467 Reserve balances with Federal Reserve Banks 3,313,281 - 7,537 + 81,632 3,216,822 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 18, 2024 Sep 18, 2024 Sep 11, 2024 Sep 20, 2023 Securities held in custody for foreign official and international accounts 3,315,101 + 629 - 119,231 3,319,787 Marketable U.S. Treasury securities1 2,937,187 + 579 - 62,808 2,941,746 Federal agency debt and mortgage-backed securities2 298,561 + 363 - 52,869 298,619 Other securities3 79,353 - 313 - 3,553 79,422 Securities lent to dealers 34,421 - 1,061 - 2,338 35,228 Overnight facility4 34,421 - 1,061 - 2,338 35,228 U.S. Treasury securities 34,421 - 1,061 - 2,338 35,228 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 18, 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 1,004 2,319 93,375 1,987 0 ... 98,685 U.S. Treasury securities2 Holdings 40,573 213,704 528,450 1,483,428 590,649 1,527,200 4,384,005 Weekly changes + 28,653 - 26,311 - 8,600 + 610 + 388 + 247 - 5,012 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 6,215 24,823 2,268,671 2,299,730 Weekly changes 0 0 0 - 4 + 4 - 68 - 68 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,498 ... ... 5,498 Repurchase agreements6 0 0 ... ... ... ... 0 Central bank liquidity swaps7 157 0 0 0 0 0 157 Reverse repurchase agreements6 723,605 0 ... ... ... ... 723,605 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 18, 2024 Mortgage-backed securities held outright1 2,299,730 Residential mortgage-backed securities 2,291,612 Commercial mortgage-backed securities 8,118 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 18, 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) 4,324 4,706 5,679 10,385 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 18, 2024 Sep 11, 2024 Sep 20, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,516 + 12 + 63 Securities, unamortized premiums and discounts, repurchase agreements, and loans 7,018,378 - 8,469 - 901,595 Securities held outright1 6,686,082 - 5,080 - 771,459 U.S. Treasury securities 4,384,005 - 5,012 - 576,730 Bills2 195,293 0 - 51,653 Notes and bonds, nominal2 3,727,342 - 5,136 - 510,556 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 Inflation compensation3 117,327 + 125 + 6,817 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,299,730 - 68 - 194,730 Unamortized premiums on securities held outright5 257,898 - 472 - 30,252 Unamortized discounts on securities held outright5 -24,287 + 204 + 2,534 Repurchase agreements6 0 - 9 0 Loans7 98,685 - 3,113 - 102,417 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,385 - 289 - 8,941 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,626 Net portfolio holdings of TALF II LLC8 0 0 - 1,219 Items in process of collection (0) 47 + 3 - 11 Bank premises 426 + 4 - 13 Central bank liquidity swaps9 157 + 20 - 90 Foreign currency denominated assets10 18,931 + 113 + 907 Other assets11 38,060 + 2,743 - 3,430 Total assets (0) 7,109,137 - 5,864 - 914,953 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 18, 2024 Sep 11, 2024 Sep 20, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,299,365 - 2,586 + 24,791 Reverse repurchase agreements12 723,605 + 24,381 -1,081,102 Deposits (0) 4,223,833 - 29,985 + 244,666 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,216,822 - 142,919 + 72,410 U.S. Treasury, General Account 839,398 + 113,821 + 177,681 Foreign official 9,682 + 3 - 6 Other13 (0) 157,931 - 889 - 5,419 Deferred availability cash items (0) 395 + 52 + 133 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -186,449 + 2,261 - 95,741 Total liabilities (0) 7,065,707 - 5,876 - 915,653 Capital accounts Capital paid in 36,645 + 12 + 700 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,430 + 12 + 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, 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 18, 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 1,516 54 50 168 43 202 106 255 36 57 102 188 254 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 7,018,378 155,213 3,731,757 105,393 273,082 698,942 470,777 389,022 102,650 47,870 84,332 311,353 647,989 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,385 10,385 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 157 7 54 6 17 31 5 8 4 1 2 4 20 Foreign currency denominated assets4 18,931 790 6,547 667 2,014 3,734 620 929 426 118 206 455 2,423 Other assets5 38,533 1,182 17,238 692 1,484 4,072 3,505 2,157 821 541 971 1,932 3,939 Interdistrict settlement account 0+ 4,651- 3,425+ 48,603+ 28,414- 85,176- 7,908- 36,206+ 6,366+ 392- 15,734+ 9,217 + 50,808 Total assets 7,109,137 173,010 3,758,840 156,184 306,049 623,362 470,105 357,583 110,938 49,334 70,476 324,935 708,321 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 18, 2024 (continued) Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Dallas City Francisco Liabilities Federal Reserve notes, net 2,299,365 85,821 745,949 55,398 115,184 164,141 357,048 107,830 77,513 30,080 30,163 201,883 328,356 Reverse repurchase agreements6 723,605 15,051 389,401 10,781 28,217 72,128 48,412 39,934 10,125 4,520 7,956 31,599 65,480 Deposits 4,223,833 67,725 2,725,974 90,581 166,128 408,918 62,328 220,909 22,101 14,518 32,345 91,307 320,998 Depository institutions 3,216,822 67,671 1,823,744 90,580 166,095 408,463 62,300 116,957 22,084 14,456 32,313 91,203 320,955 U.S. Treasury, General Account 839,398 0 839,398 0 0 0 0 0 0 0 0 0 0 Foreign official 9,682 2 9,656 1 4 8 1 2 1 0 0 1 5 Other7 157,931 52 53,175 0 29 447 27 103,950 16 61 31 103 38 Earnings remittances due to the U.S. Treasury8 -198,065 -3,760 -122,314 -2,423 -8,586 -31,764 79 -13,920 10 -212 -691 -1,407 -13,077 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 12,010 1,372 4,954 321 533 1,380 772 687 198 152 237 364 1,041 Total liabilities 7,065,707 171,167 3,743,963 154,659 301,475 614,803 468,638 355,439 109,948 49,058 70,010 323,747 702,798 Capital Capital paid in 36,645 1,559 12,531 1,286 3,852 7,221 1,244 1,810 837 233 392 1,025 4,655 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 7,109,137 173,010 3,758,840 156,184 306,049 623,362 470,105 357,583 110,938 49,334 70,476 324,935 708,321 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 18, 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 18, 2024 Federal Reserve notes outstanding 2,775,718 Less: Notes held by F.R. Banks not subject to collateralization 476,353 Federal Reserve notes to be collateralized 2,299,365 Collateral held against Federal Reserve notes 2,299,365 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,278,128 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,686,082 Less: Face value of securities under reverse repurchase agreements 800,633 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,885,449 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.