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 November 14, 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 13, 2024 Federal Reserve Banks Nov 13, 2024 Nov 6, 2024 Nov 15, 2023 Reserve Bank credit 6,931,549 - 21,298 - 887,896 6,926,251 Securities held outright1 6,608,382 + 172 - 725,565 6,608,370 U.S. Treasury securities 4,340,072 + 172 - 528,597 4,340,060 Bills2 195,293 0 - 35,973 195,293 Notes and bonds, nominal2 3,686,010 - 11 - 472,593 3,685,946 Notes and bonds, inflation-indexed2 341,360 0 - 24,045 341,360 Inflation compensation3 117,408 + 182 + 4,013 117,461 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,265,963 0 - 196,969 2,265,963 Unamortized premiums on securities held outright5 253,582 - 457 - 29,834 253,442 Unamortized discounts on securities held outright5 -23,987 + 31 + 2,625 -23,924 Repurchase agreements6 1 - 15 - 13 6 Foreign official 0 0 0 1 Others 1 - 15 - 13 5 Loans 37,201 - 23,337 - 117,047 31,321 Primary credit 2,187 + 786 - 54 2,830 Secondary credit 0 0 0 0 Seasonal credit 54 - 1 + 27 55 Paycheck Protection Program Liquidity Facility 2,044 - 14 - 2,118 2,042 Bank Term Funding Program 32,916 - 24,109 - 79,674 26,395 Other credit extensions7 0 0 - 35,229 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,145 + 9 - 8,970 10,153 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,647 0 Net portfolio holdings of TALF II LLC8 0 0 - 1,021 0 Float -295 + 34 - 129 -323 Central bank liquidity swaps9 128 - 23 - 159 128 Other Federal Reserve assets10 46,392 + 2,288 - 2,135 47,077 Foreign currency denominated assets11 17,960 - 217 + 145 17,754 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,005 + 14 + 648 53,005 Total factors supplying reserve funds 7,023,755 - 21,500 - 882,102 7,018,251 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 13, 2024 Federal Reserve Banks Nov 13, 2024 Nov 6, 2024 Nov 15, 2023 Currency in circulation12 2,361,460 + 3,482 + 35,691 2,361,352 Reverse repurchase agreements13 559,326 + 4,134 - 771,357 628,124 Foreign official and international accounts 383,554 - 5,680 + 59,197 390,018 Others 175,772 + 9,814 - 830,554 238,106 Treasury cash holdings 348 + 1 - 39 346 Deposits with F.R. Banks, other than reserve balances 1,008,614 - 1,564 + 100,470 986,164 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 832,186 - 9,865 + 93,624 808,857 Foreign official 9,682 0 - 7 9,682 Other14 166,746 + 8,302 + 6,854 167,624 Treasury contributions to credit facilities15 4,958 0 - 8,400 4,958 Other liabilities and capital16 -155,101 + 2,417 - 90,904 -154,741 Total factors, other than reserve balances, absorbing reserve funds 3,779,606 + 8,470 - 734,538 3,826,203 Reserve balances with Federal Reserve Banks 3,244,149 - 29,971 - 147,564 3,192,048 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 13, 2024 Nov 13, 2024 Nov 6, 2024 Nov 15, 2023 Securities held in custody for foreign official and international accounts 3,328,205 - 5,682 - 102,370 3,325,297 Marketable U.S. Treasury securities1 2,940,309 - 5,617 - 54,405 2,937,566 Federal agency debt and mortgage-backed securities2 299,452 + 34 - 53,875 299,470 Other securities3 88,444 - 100 + 5,911 88,261 Securities lent to dealers 36,493 + 1,552 - 129 37,144 Overnight facility4 36,493 + 1,552 - 129 37,144 U.S. Treasury securities 36,493 + 1,552 - 129 37,144 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 13, 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 1,527 27,078 1,056 1,661 0 ... 31,321 U.S. Treasury securities2 Holdings 74,216 205,975 486,014 1,452,218 593,297 1,528,341 4,340,060 Weekly changes - 12,080 + 12,041 + 61 + 2 + 22 + 50 + 97 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 0 0 0 0 0 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 0 46 1,345 3,609 ... ... 5,001 Repurchase agreements6 6 0 ... ... ... ... 6 Central bank liquidity swaps7 128 0 0 0 0 0 128 Reverse repurchase agreements6 628,124 0 ... ... ... ... 628,124 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 13, 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 89 Commitments to sell mortgage-backed securities2 15 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 13, 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 4,413 5,741 10,153 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 13, 2024 Nov 6, 2024 Nov 15, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,467 - 13 + 26 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,869,215 - 28,846 - 850,036 Securities held outright1 6,608,370 + 97 - 699,527 U.S. Treasury securities 4,340,060 + 97 - 502,559 Bills2 195,293 0 - 35,973 Notes and bonds, nominal2 3,685,946 - 75 - 446,505 Notes and bonds, inflation-indexed2 341,360 0 - 24,045 Inflation compensation3 117,461 + 172 + 3,964 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,265,963 0 - 196,968 Unamortized premiums on securities held outright5 253,442 - 428 - 29,778 Unamortized discounts on securities held outright5 -23,924 + 17 + 2,602 Repurchase agreements6 6 - 95 - 70 Loans7 31,321 - 28,437 - 123,263 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 10,153 + 10 - 8,654 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,649 Net portfolio holdings of TALF II LLC8 0 0 - 1,021 Items in process of collection (0) 77 + 7 + 16 Bank premises 422 + 3 - 11 Central bank liquidity swaps9 128 - 23 - 159 Foreign currency denominated assets10 17,754 - 210 - 201 Other assets11 46,655 + 1,881 + 12,807 Total assets (0) 6,967,108 - 27,191 - 847,883 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 13, 2024 Nov 6, 2024 Nov 15, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,310,155 + 1,677 + 33,745 Reverse repurchase agreements12 628,124 + 55,047 - 639,849 Deposits (0) 4,178,212 - 86,058 - 142,417 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,192,048 - 63,484 - 291,277 U.S. Treasury, General Account 808,857 - 31,370 + 138,881 Foreign official 9,682 + 1 - 7 Other13 (0) 167,624 + 8,795 + 9,986 Deferred availability cash items (0) 400 + 44 + 142 Treasury contributions to credit facilities14 4,958 0 - 8,400 Other liabilities and accrued dividends15 -198,379 + 2,099 - 91,965 Total liabilities (0) 6,923,470 - 27,191 - 848,745 Capital accounts Capital paid in 36,853 0 + 862 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,638 0 + 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 13, 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 1,467 53 48 167 43 192 108 249 31 56 96 184 238 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,869,215 143,743 3,682,610 102,490 268,282 683,882 461,201 379,015 97,703 44,979 77,537 303,975 623,798 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 10,153 10,153 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 128 5 44 5 14 25 4 6 3 1 1 3 16 Foreign currency denominated assets4 17,754 741 6,140 625 1,889 3,502 582 871 400 111 193 427 2,273 Other assets5 47,154 1,104 22,698 796 1,830 4,897 4,090 2,569 1,033 572 887 2,307 4,371 Interdistrict settlement account 0+ 6,108- 92,175+ 49,433+ 9,838- 38,100+ 577- 28,100+ 12,154+ 7,554- 12,112+ 13,158 + 71,665 Total assets 6,967,108 162,636 3,625,984 154,172 282,893 655,956 469,561 356,028 111,959 53,629 67,201 321,839 705,248 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 13, 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 2,310,155 85,456 753,847 55,547 114,443 168,729 360,025 105,194 77,777 30,349 28,912 201,042 328,833 Reverse repurchase agreements6 628,124 13,065 338,019 9,358 24,494 62,610 42,024 34,665 8,789 3,924 6,906 27,430 56,840 Deposits 4,178,212 59,925 2,642,586 90,414 148,263 448,207 65,191 228,132 24,211 19,190 31,458 93,206 327,428 Depository institutions 3,192,048 59,920 1,767,286 90,413 148,229 447,635 65,165 118,158 24,207 19,109 31,428 93,116 327,383 U.S. Treasury, General Account 808,857 0 808,857 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 167,624 4 56,787 0 30 564 26 109,971 4 82 29 89 40 Earnings remittances due to the U.S. Treasury8 -209,476 -4,067 -127,809 -2,992 -9,345 -33,694 71 -14,833 5 -261 -791 -1,434 -14,328 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 11,497 1,445 4,460 319 459 1,537 767 667 183 146 230 348 936 Total liabilities 6,923,470 160,783 3,611,102 152,647 278,314 647,390 468,079 353,825 110,966 53,348 66,715 320,592 699,710 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 6,967,108 162,636 3,625,984 154,172 282,893 655,956 469,561 356,028 111,959 53,629 67,201 321,839 705,248 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 13, 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 13, 2024 Federal Reserve notes outstanding 2,783,063 Less: Notes held by F.R. Banks not subject to collateralization 472,908 Federal Reserve notes to be collateralized 2,310,155 Collateral held against Federal Reserve notes 2,310,155 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,288,918 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,608,376 Less: Face value of securities under reverse repurchase agreements 687,292 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,921,085 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.