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 26, 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 25, 2024 Federal Reserve Banks Sep 25, 2024 Sep 18, 2024 Sep 27, 2023 Reserve Bank credit 7,055,915 - 15,497 - 923,730 7,038,108 Securities held outright1 6,680,959 - 8,051 - 768,609 6,668,555 U.S. Treasury securities 4,384,084 - 2,811 - 574,962 4,384,130 Bills2 195,293 0 - 49,830 195,293 Notes and bonds, nominal2 3,727,342 - 2,935 - 510,556 3,727,342 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 344,044 Inflation compensation3 117,406 + 125 + 6,762 117,452 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,294,528 - 5,241 - 193,647 2,282,078 Unamortized premiums on securities held outright5 257,454 - 618 - 30,200 257,018 Unamortized discounts on securities held outright5 -24,147 + 227 + 2,518 -24,054 Repurchase agreements6 19 + 10 + 18 61 Foreign official 0 - 4 0 0 Others 19 + 15 + 18 61 Loans 92,512 - 8,142 - 108,091 89,727 Primary credit 1,386 - 50 - 1,864 1,365 Secondary credit 0 0 0 0 Seasonal credit 98 - 9 + 7 89 Paycheck Protection Program Liquidity Facility 2,351 - 68 - 2,874 2,333 Bank Term Funding Program 88,676 - 8,015 - 18,936 85,941 Other credit extensions7 0 0 - 84,426 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,387 - 160 - 8,943 10,396 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,627 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,219 0 Float -264 + 14 - 41 -296 Central bank liquidity swaps9 153 - 4 - 85 153 Other Federal Reserve assets10 38,842 + 1,227 - 3,453 36,548 Foreign currency denominated assets11 18,888 - 47 + 999 18,853 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,073 + 14 + 728 53,073 Total factors supplying reserve funds 7,149,117 - 15,530 - 917,003 7,131,275 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 25, 2024 Federal Reserve Banks Sep 25, 2024 Sep 18, 2024 Sep 27, 2023 Currency in circulation12 2,349,934 - 990 + 26,525 2,350,597 Reverse repurchase agreements13 789,056 + 87,616 - 957,120 833,314 Foreign official and international accounts 429,732 + 6,988 + 120,021 417,121 Others 359,324 + 80,628 -1,077,141 416,193 Treasury cash holdings 325 - 13 - 11 315 Deposits with F.R. Banks, other than reserve balances 984,690 + 47,253 + 117,860 949,129 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 806,771 + 35,577 + 125,628 778,910 Foreign official 9,681 0 - 6 9,681 Other14 168,237 + 11,675 - 7,763 160,538 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -148,997 - 5,266 - 94,683 -148,604 Total factors, other than reserve balances, absorbing reserve funds 3,979,967 + 128,601 - 915,829 3,989,709 Reserve balances with Federal Reserve Banks 3,169,149 - 144,132 - 1,175 3,141,565 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 25, 2024 Sep 25, 2024 Sep 18, 2024 Sep 27, 2023 Securities held in custody for foreign official and international accounts 3,316,936 + 1,835 - 119,415 3,315,956 Marketable U.S. Treasury securities1 2,940,102 + 2,915 - 63,545 2,939,061 Federal agency debt and mortgage-backed securities2 297,463 - 1,098 - 52,363 297,510 Other securities3 79,370 + 17 - 3,507 79,384 Securities lent to dealers 32,032 - 2,389 - 8,661 34,584 Overnight facility4 32,032 - 2,389 - 8,661 34,584 U.S. Treasury securities 32,032 - 2,389 - 8,661 34,584 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 25, 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 801 4,185 82,823 1,918 0 ... 89,727 U.S. Treasury securities2 Holdings 48,479 205,862 528,403 1,483,485 590,665 1,527,237 4,384,130 Weekly changes + 7,906 - 7,842 - 47 + 57 + 16 + 37 + 125 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 16 6,077 24,262 2,251,722 2,282,078 Weekly changes 0 - 1 - 5 - 138 - 561 - 16,949 - 17,652 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,419 ... ... 5,419 Repurchase agreements6 61 0 ... ... ... ... 61 Central bank liquidity swaps7 153 0 0 0 0 0 153 Reverse repurchase agreements6 833,314 0 ... ... ... ... 833,314 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 25, 2024 Mortgage-backed securities held outright1 2,282,078 Residential mortgage-backed securities 2,273,971 Commercial mortgage-backed securities 8,107 Commitments to buy mortgage-backed securities2 75 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 25, 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 4,691 5,705 10,396 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 25, 2024 Sep 18, 2024 Sep 27, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,521 + 5 + 53 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,991,308 - 27,070 - 907,657 Securities held outright1 6,668,555 - 17,527 - 771,656 U.S. Treasury securities 4,384,130 + 125 - 574,008 Bills2 195,293 0 - 48,844 Notes and bonds, nominal2 3,727,342 0 - 510,556 Notes and bonds, inflation-indexed2 344,044 0 - 21,336 Inflation compensation3 117,452 + 125 + 6,730 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,282,078 - 17,652 - 197,648 Unamortized premiums on securities held outright5 257,018 - 880 - 30,234 Unamortized discounts on securities held outright5 -24,054 + 233 + 2,506 Repurchase agreements6 61 + 61 + 59 Loans7 89,727 - 8,958 - 108,333 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,396 + 11 - 8,956 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,629 Net portfolio holdings of TALF II LLC8 0 0 - 1,220 Items in process of collection (0) 44 - 3 - 14 Bank premises 434 + 8 - 8 Central bank liquidity swaps9 153 - 4 - 85 Foreign currency denominated assets10 18,853 - 78 + 1,122 Other assets11 36,114 - 1,946 - 4,611 Total assets (0) 7,080,059 - 29,078 - 922,005 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 25, 2024 Sep 18, 2024 Sep 27, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,299,356 - 9 + 25,950 Reverse repurchase agreements12 833,314 + 109,709 - 921,795 Deposits (0) 4,090,695 - 133,138 + 76,709 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,141,565 - 75,257 - 26,937 U.S. Treasury, General Account 778,910 - 60,488 + 106,768 Foreign official 9,681 - 1 - 6 Other13 (0) 160,538 + 2,607 - 3,117 Deferred availability cash items (0) 341 - 54 - 146 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -192,027 - 5,578 - 95,014 Total liabilities (0) 7,036,636 - 29,071 - 922,698 Capital accounts Capital paid in 36,638 - 7 + 693 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,423 - 7 + 693 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 25, 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 1,521 56 50 169 45 202 109 255 35 56 101 185 257 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,991,308 153,418 3,721,742 104,626 272,275 696,900 468,600 387,369 102,325 47,346 83,278 309,358 644,071 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,396 10,396 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 153 6 53 5 16 30 5 7 3 1 2 4 20 Foreign currency denominated assets4 18,853 787 6,520 664 2,006 3,719 618 925 425 118 205 453 2,414 Other assets5 36,592 1,113 16,297 651 1,414 3,904 3,356 2,044 799 532 932 1,825 3,725 Interdistrict settlement account 0+ 8,432- 54,918+ 48,858+ 19,580- 72,033+ 58- 23,721+ 8,319+ 2,906- 12,415+ 15,154 + 59,777 Total assets 7,080,059 174,937 3,696,363 155,631 296,333 634,280 475,744 368,298 112,542 51,314 72,702 328,766 713,150 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 25, 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 2,299,356 85,703 746,405 55,327 114,817 164,799 357,734 107,114 77,476 30,216 30,104 201,776 327,885 Reverse repurchase agreements6 833,314 17,333 448,440 12,415 32,495 83,064 55,752 45,989 11,661 5,206 9,163 36,390 75,407 Deposits 4,090,695 67,595 2,607,087 88,631 152,807 408,890 60,063 226,652 22,248 15,703 33,477 90,583 316,958 Depository institutions 3,141,565 67,537 1,766,137 88,630 152,773 408,521 60,035 119,439 22,231 15,515 33,447 90,379 316,920 U.S. Treasury, General Account 778,910 0 778,910 0 0 0 0 0 0 0 0 0 0 Foreign official 9,681 2 9,655 1 4 8 1 2 1 0 0 1 5 Other7 160,538 56 52,385 0 30 362 26 107,211 16 188 29 202 33 Earnings remittances due to the U.S. Treasury8 -199,792 -3,795 -123,196 -2,493 -8,688 -32,012 33 -14,046 -6 -223 -705 -1,423 -13,238 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 8,106 1,308 2,749 226 327 980 696 444 173 136 198 253 615 Total liabilities 7,036,636 173,102 3,681,486 154,106 291,759 625,720 474,277 366,154 111,552 51,038 72,236 327,578 707,627 Capital Capital paid in 36,638 1,552 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 7,080,059 174,937 3,696,363 155,631 296,333 634,280 475,744 368,298 112,542 51,314 72,702 328,766 713,150 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 25, 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 25, 2024 Federal Reserve notes outstanding 2,778,595 Less: Notes held by F.R. Banks not subject to collateralization 479,239 Federal Reserve notes to be collateralized 2,299,356 Collateral held against Federal Reserve notes 2,299,356 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,278,119 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,668,616 Less: Face value of securities under reverse repurchase agreements 913,836 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,754,780 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.