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 October 24, 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 Oct 23, 2024 Federal Reserve Banks Oct 23, 2024 Oct 16, 2024 Oct 25, 2023 Reserve Bank credit 6,992,575 - 10,346 - 893,549 6,988,239 Securities held outright1 6,640,572 - 6,388 - 748,580 6,638,619 U.S. Treasury securities 4,357,625 - 4,906 - 554,588 4,357,656 Bills2 195,293 0 - 37,697 195,293 Notes and bonds, nominal2 3,704,397 - 1,950 - 497,129 3,704,397 Notes and bonds, inflation-indexed2 340,931 - 2,474 - 24,449 340,931 Inflation compensation3 117,005 - 481 + 4,688 117,036 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,280,600 - 1,482 - 193,992 2,278,616 Unamortized premiums on securities held outright5 255,306 - 490 - 29,928 255,068 Unamortized discounts on securities held outright5 -23,849 + 48 + 2,578 -23,767 Repurchase agreements6 3 + 3 + 2 0 Foreign official 0 0 0 0 Others 3 + 3 + 2 0 Loans 66,313 - 4,990 - 98,225 63,669 Primary credit 1,607 + 70 - 1,283 1,768 Secondary credit 0 0 0 0 Seasonal credit 63 - 1 + 18 61 Paycheck Protection Program Liquidity Facility 2,136 - 68 - 2,388 2,124 Bank Term Funding Program 62,507 - 4,991 - 46,262 59,717 Other credit extensions7 0 0 - 48,310 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,137 - 200 - 8,878 10,145 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,638 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,222 0 Float -266 + 84 - 75 -313 Central bank liquidity swaps9 163 + 4 - 89 163 Other Federal Reserve assets10 44,197 + 1,584 - 3,493 44,656 Foreign currency denominated assets11 18,225 - 149 + 520 18,069 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,129 + 14 + 728 53,129 Total factors supplying reserve funds 7,085,169 - 10,481 - 887,301 7,080,678 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 Oct 23, 2024 Federal Reserve Banks Oct 23, 2024 Oct 16, 2024 Oct 25, 2023 Currency in circulation12 2,355,991 - 2,320 + 33,011 2,355,493 Reverse repurchase agreements13 654,937 - 61,197 - 775,008 668,617 Foreign official and international accounts 396,147 - 4,559 + 92,905 397,778 Others 258,790 - 56,638 - 867,912 270,839 Treasury cash holdings 330 + 6 - 37 334 Deposits with F.R. Banks, other than reserve balances 993,766 + 37,428 - 12,361 977,286 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 829,991 + 38,199 - 4,427 817,410 Foreign official 9,683 0 - 2 9,683 Other14 154,092 - 771 - 7,932 150,193 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -154,959 - 4,666 - 92,767 -154,472 Total factors, other than reserve balances, absorbing reserve funds 3,855,024 - 30,749 - 855,561 3,852,216 Reserve balances with Federal Reserve Banks 3,230,145 + 20,268 - 31,741 3,228,462 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 Oct 23, 2024 Oct 23, 2024 Oct 16, 2024 Oct 25, 2023 Securities held in custody for foreign official and international accounts 3,321,518 + 2,295 - 104,152 3,323,078 Marketable U.S. Treasury securities1 2,932,802 + 931 - 57,681 2,935,061 Federal agency debt and mortgage-backed securities2 300,118 + 2,126 - 52,617 299,339 Other securities3 88,598 - 762 + 6,146 88,679 Securities lent to dealers 30,399 - 689 - 6,225 32,407 Overnight facility4 30,399 - 689 - 6,225 32,407 U.S. Treasury securities 30,399 - 689 - 6,225 32,407 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, October 23, 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 1,366 58,616 1,952 1,736 0 ... 63,669 U.S. Treasury securities2 Holdings 64,724 217,895 486,965 1,467,656 592,501 1,527,915 4,357,656 Weekly changes + 2,809 + 39,465 - 42,264 + 38 + 10 + 25 + 84 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 6,126 24,231 2,248,243 2,278,616 Weekly changes 0 0 0 - 1 - 334 - 3,136 - 3,472 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,075 ... ... 5,075 Repurchase agreements6 0 0 ... ... ... ... 0 Central bank liquidity swaps7 163 0 0 0 0 0 163 Reverse repurchase agreements6 668,617 0 ... ... ... ... 668,617 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 Oct 23, 2024 Mortgage-backed securities held outright1 2,278,616 Residential mortgage-backed securities 2,270,513 Commercial mortgage-backed securities 8,103 Commitments to buy mortgage-backed securities2 74 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 Oct 23, 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) 4,035 4,506 5,639 10,145 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 Oct 23, 2024 Oct 16, 2024 Oct 25, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,503 - 1 + 48 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,933,589 - 11,203 - 867,342 Securities held outright1 6,638,619 - 3,388 - 738,835 U.S. Treasury securities 4,357,656 + 84 - 554,544 Bills2 195,293 0 - 37,511 Notes and bonds, nominal2 3,704,397 0 - 497,129 Notes and bonds, inflation-indexed2 340,931 0 - 24,449 Inflation compensation3 117,036 + 85 + 4,546 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,278,616 - 3,472 - 184,291 Unamortized premiums on securities held outright5 255,068 - 584 - 29,702 Unamortized discounts on securities held outright5 -23,767 + 77 + 2,557 Repurchase agreements6 0 - 1 - 1 Loans7 63,669 - 7,307 - 101,362 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,145 + 10 - 8,893 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,641 Net portfolio holdings of TALF II LLC8 0 0 - 1,223 Items in process of collection (0) 46 - 267 - 11 Bank premises 426 + 2 - 16 Central bank liquidity swaps9 163 + 4 - 89 Foreign currency denominated assets10 18,069 - 226 + 380 Other assets11 44,230 + 1,806 - 636 Total assets (0) 7,029,408 - 9,876 - 878,422 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 Oct 23, 2024 Oct 16, 2024 Oct 25, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,304,198 - 3,310 + 31,824 Reverse repurchase agreements12 668,617 - 398 - 734,498 Deposits (0) 4,205,748 - 1,381 - 75,115 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,228,462 - 376 - 35,509 U.S. Treasury, General Account 817,410 + 2,659 - 30,307 Foreign official 9,683 - 1 - 2 Other13 (0) 150,193 - 3,663 - 9,297 Deferred availability cash items (0) 360 - 278 + 60 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -197,923 - 4,509 - 93,010 Total liabilities (0) 6,985,958 - 9,876 - 879,139 Capital accounts Capital paid in 36,665 0 + 717 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,450 0 + 717 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, October 23, 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 1,503 56 49 167 46 199 120 252 31 55 100 182 247 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,933,589 146,193 3,703,056 103,299 270,411 693,502 465,967 382,470 100,182 46,290 81,734 307,266 633,219 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,145 10,145 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 163 7 56 6 17 32 5 8 4 1 2 4 21 Foreign currency denominated assets4 18,069 754 6,249 636 1,922 3,565 592 887 407 113 197 434 2,313 Other assets5 44,702 1,099 20,949 754 1,747 4,785 3,935 2,430 901 582 1,025 2,199 4,296 Interdistrict settlement account 0+ 4,119- 10,324+ 53,399- 1,599- 67,826- 4,024- 31,597+ 7,562+ 4,300- 16,119+ 2,067 + 60,043 Total assets 7,029,408 163,101 3,726,653 158,918 273,541 635,814 469,593 355,867 109,722 51,697 67,537 313,940 703,026 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, October 23, 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 2,304,198 85,840 750,923 55,328 113,930 167,364 360,222 104,915 77,394 30,421 29,165 201,021 327,674 Reverse repurchase agreements6 668,617 13,907 359,810 9,962 26,073 66,647 44,733 36,899 9,356 4,177 7,352 29,198 60,504 Deposits 4,205,748 59,153 2,724,245 94,666 137,790 425,325 62,392 225,981 21,812 16,926 31,092 83,722 322,645 Depository institutions 3,228,462 59,149 1,848,631 94,665 137,760 424,630 62,365 125,284 21,807 16,855 31,063 83,648 322,606 U.S. Treasury, General Account 817,410 0 817,410 0 0 0 0 0 0 0 0 0 0 Foreign official 9,683 2 9,657 1 4 8 1 2 1 0 0 1 5 Other7 150,193 3 48,548 0 25 687 26 100,695 4 71 28 72 34 Earnings remittances due to the U.S. Treasury8 -205,752 -3,953 -125,998 -2,797 -9,147 -33,022 67 -14,510 -5 -242 -751 -1,441 -13,952 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 8,189 1,353 2,796 234 322 942 713 440 175 136 196 250 632 Total liabilities 6,985,958 161,259 3,711,776 157,393 268,967 627,254 468,127 353,725 108,732 51,418 67,053 312,751 697,503 Capital Capital paid in 36,665 1,559 12,531 1,286 3,852 7,221 1,244 1,808 837 236 410 1,026 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 7,029,408 163,101 3,726,653 158,918 273,541 635,814 469,593 355,867 109,722 51,697 67,537 313,940 703,026 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, October 23, 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 Oct 23, 2024 Federal Reserve notes outstanding 2,782,010 Less: Notes held by F.R. Banks not subject to collateralization 477,813 Federal Reserve notes to be collateralized 2,304,198 Collateral held against Federal Reserve notes 2,304,198 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,282,961 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,638,619 Less: Face value of securities under reverse repurchase agreements 732,173 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,906,446 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.