H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern time November 7, 2024 In table 4, the outstanding amount of facility asset purchases for MS Facilities 2020 LLC (Main Street Lending Program) reflects the quarterly update to the allowance for credit losses. The allowance for credit losses was estimated based upon the Main Street Lending Program holdings as of September 30, 2024.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 7, 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 Nov 6, 2024 Federal Reserve Banks Nov 6, 2024 Oct 30, 2024 Nov 8, 2023 Reserve Bank credit 6,952,847 - 21,523 - 869,182 6,953,262 Securities held outright1 6,608,210 - 19,669 - 729,851 6,608,273 U.S. Treasury securities 4,339,900 - 17,862 - 532,907 4,339,963 Bills2 195,293 0 - 35,973 195,293 Notes and bonds, nominal2 3,686,021 - 18,419 - 477,003 3,686,021 Notes and bonds, inflation-indexed2 341,360 + 422 - 24,042 341,360 Inflation compensation3 117,226 + 134 + 4,110 117,289 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,265,963 - 1,807 - 196,944 2,265,963 Unamortized premiums on securities held outright5 254,039 - 503 - 29,878 253,870 Unamortized discounts on securities held outright5 -24,018 - 259 + 2,618 -23,941 Repurchase agreements6 16 + 7 + 15 101 Foreign official 0 - 1 0 0 Others 16 + 7 + 15 101 Loans 60,538 - 1,915 - 92,487 59,758 Primary credit 1,401 - 66 - 970 1,600 Secondary credit 0 0 0 0 Seasonal credit 55 - 4 + 20 53 Paycheck Protection Program Liquidity Facility 2,058 - 35 - 2,230 2,049 Bank Term Funding Program 57,025 - 1,808 - 54,074 56,055 Other credit extensions7 0 0 - 35,233 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,136 - 11 - 9,011 10,143 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,644 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,019 0 Float -329 + 87 - 140 -286 Central bank liquidity swaps9 151 - 6 - 85 151 Other Federal Reserve assets10 44,104 + 746 - 3,699 45,193 Foreign currency denominated assets11 18,177 + 51 + 322 17,964 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,157 + 14 + 728 53,157 Total factors supplying reserve funds 7,045,421 - 21,459 - 863,133 7,045,624 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 Nov 6, 2024 Federal Reserve Banks Nov 6, 2024 Oct 30, 2024 Nov 8, 2023 Currency in circulation12 2,358,144 + 3,156 + 32,574 2,359,810 Reverse repurchase agreements13 555,192 - 65,539 - 806,394 573,077 Foreign official and international accounts 389,234 - 1,694 + 79,707 395,206 Others 165,958 - 63,844 - 886,102 177,871 Treasury cash holdings 347 + 11 - 30 349 Deposits with F.R. Banks, other than reserve balances 1,010,178 + 8,178 + 65,443 1,008,737 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 842,051 + 6,814 + 69,365 840,227 Foreign official 9,682 - 1 - 43 9,681 Other14 158,444 + 1,365 - 3,879 158,829 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -157,518 - 4,428 - 91,537 -156,840 Total factors, other than reserve balances, absorbing reserve funds 3,771,301 - 58,621 - 808,344 3,790,092 Reserve balances with Federal Reserve Banks 3,274,120 + 37,162 - 54,788 3,255,532 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 Nov 6, 2024 Nov 6, 2024 Oct 30, 2024 Nov 8, 2023 Securities held in custody for foreign official and international accounts 3,333,887 + 4,746 - 97,912 3,327,763 Marketable U.S. Treasury securities1 2,945,926 + 4,263 - 49,634 2,939,763 Federal agency debt and mortgage-backed securities2 299,418 + 630 - 54,423 299,440 Other securities3 88,544 - 147 + 6,146 88,560 Securities lent to dealers 34,941 + 2,256 + 352 34,840 Overnight facility4 34,941 + 2,256 + 352 34,840 U.S. Treasury securities 34,941 + 2,256 + 352 34,840 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, November 6, 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 1,168 55,705 1,218 1,668 0 ... 59,758 U.S. Treasury securities2 Holdings 86,296 193,934 485,953 1,452,216 593,275 1,528,291 4,339,963 Weekly changes + 16,241 - 21,193 + 1,540 - 15,478 + 763 + 267 - 17,862 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 14 6,113 24,093 2,235,741 2,265,963 Weekly changes 0 + 1 + 2 + 108 + 394 - 505 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 0 0 5,012 ... ... 5,012 Repurchase agreements6 101 0 ... ... ... ... 101 Central bank liquidity swaps7 151 0 0 0 0 0 151 Reverse repurchase agreements6 573,077 0 ... ... ... ... 573,077 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 Nov 6, 2024 Mortgage-backed securities held outright1 2,265,963 Residential mortgage-backed securities 2,257,865 Commercial mortgage-backed securities 8,098 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 Nov 6, 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 4,424 5,719 10,143 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 September 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 Nov 6, 2024 Oct 30, 2024 Nov 8, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,480 - 15 + 29 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,898,061 - 20,238 - 851,978 Securities held outright1 6,608,273 - 17,862 - 729,895 U.S. Treasury securities 4,339,963 - 17,862 - 532,951 Bills2 195,293 0 - 35,973 Notes and bonds, nominal2 3,686,021 - 18,426 - 477,003 Notes and bonds, inflation-indexed2 341,360 + 404 - 24,045 Inflation compensation3 117,289 + 159 + 4,070 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,265,963 0 - 196,944 Unamortized premiums on securities held outright5 253,870 - 459 - 29,881 Unamortized discounts on securities held outright5 -23,941 - 260 + 2,606 Repurchase agreements6 101 + 70 + 101 Loans7 59,758 - 1,727 - 94,909 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,143 - 15 - 9,024 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,646 Net portfolio holdings of TALF II LLC8 0 0 - 1,020 Items in process of collection (0) 70 0 - 3 Bank premises 419 - 11 - 11 Central bank liquidity swaps9 151 - 6 - 85 Foreign currency denominated assets10 17,964 - 191 + 152 Other assets11 44,774 + 1,286 - 3,806 Total assets (0) 6,994,299 - 19,191 - 866,392 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 Nov 6, 2024 Oct 30, 2024 Nov 8, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,308,478 + 3,281 + 32,867 Reverse repurchase agreements12 573,077 - 53,930 - 770,780 Deposits (0) 4,264,270 + 36,933 - 28,849 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,255,532 + 39,738 - 104,896 U.S. Treasury, General Account 840,227 - 6,910 + 76,768 Foreign official 9,681 - 3 - 6 Other13 (0) 158,829 + 4,107 - 716 Deferred availability cash items (0) 356 - 1,038 + 76 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -200,478 - 4,581 - 92,168 Total liabilities (0) 6,950,661 - 19,335 - 867,254 Capital accounts Capital paid in 36,853 + 144 + 862 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,638 + 144 + 862 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, November 6, 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 1,480 56 46 167 43 194 112 249 32 57 97 185 244 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,898,061 145,226 3,686,230 102,760 269,038 690,091 463,793 380,351 99,111 45,923 81,215 305,136 629,187 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,143 10,143 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 151 6 52 5 16 30 5 7 3 1 2 4 19 Foreign currency denominated assets4 17,964 749 6,213 632 1,911 3,544 589 882 405 112 196 432 2,300 Other assets5 45,263 1,100 21,245 760 1,741 4,822 3,983 2,453 1,044 579 993 2,215 4,327 Interdistrict settlement account 0+ 21,698- 35,011+ 50,148- 3,179- 69,342- 2,327- 29,756+ 10,624+ 5,004- 12,907+ 10,682 + 54,365 Total assets 6,994,299 179,708 3,685,392 155,130 270,567 630,896 469,155 355,603 111,853 52,031 70,195 320,440 693,329 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, November 6, 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 2,308,478 85,768 752,605 55,436 114,248 168,387 360,247 105,311 77,697 30,318 28,984 201,025 328,451 Reverse repurchase agreements6 573,077 11,920 308,396 8,538 22,347 57,123 38,341 31,627 8,019 3,580 6,301 25,026 51,858 Deposits 4,264,270 77,864 2,734,047 92,321 138,336 429,370 68,322 230,731 24,963 17,971 34,991 94,316 321,039 Depository institutions 3,255,532 77,856 1,832,608 92,320 138,294 428,841 68,292 124,260 24,958 17,914 34,961 94,233 320,993 U.S. Treasury, General Account 840,227 0 840,227 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 158,829 6 51,556 0 38 521 29 106,469 4 56 29 82 40 Earnings remittances due to the U.S. Treasury8 -208,352 -4,029 -127,335 -2,926 -9,270 -33,470 74 -14,730 5 -256 -772 -1,439 -14,203 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 8,229 1,373 2,797 235 328 919 688 461 177 138 205 264 645 Total liabilities 6,950,661 177,854 3,670,510 153,605 265,988 622,329 467,673 353,400 110,860 51,750 69,709 319,192 687,790 Capital Capital paid in 36,853 1,571 12,536 1,287 3,857 7,228 1,260 1,870 840 238 412 1,085 4,670 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 6,994,299 179,708 3,685,392 155,130 270,567 630,896 469,155 355,603 111,853 52,031 70,195 320,440 693,329 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, November 6, 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 Nov 6, 2024 Federal Reserve notes outstanding 2,782,576 Less: Notes held by F.R. Banks not subject to collateralization 474,098 Federal Reserve notes to be collateralized 2,308,478 Collateral held against Federal Reserve notes 2,308,478 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,287,241 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,608,374 Less: Face value of securities under reverse repurchase agreements 628,508 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,979,866 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.