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 December 12, 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 Dec 11, 2024 Federal Reserve Banks Dec 11, 2024 Dec 4, 2024 Dec 13, 2023 Reserve Bank credit 6,855,782 - 4,330 - 846,022 6,856,532 Securities held outright1 6,566,949 - 4,275 - 692,770 6,566,993 U.S. Treasury securities 4,315,621 - 4,274 - 494,735 4,315,665 Bills2 195,293 0 - 32,677 195,293 Notes and bonds, nominal2 3,660,946 - 4,403 - 441,830 3,660,946 Notes and bonds, inflation-indexed2 341,360 0 - 24,218 341,360 Inflation compensation3 118,021 + 129 + 3,989 118,065 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,248,982 0 - 198,034 2,248,982 Unamortized premiums on securities held outright5 251,362 - 462 - 29,547 251,198 Unamortized discounts on securities held outright5 -24,087 + 123 + 2,407 -24,014 Repurchase agreements6 20 + 18 + 15 7 Foreign official 0 0 0 1 Others 20 + 18 + 15 6 Loans 20,677 - 1,989 - 107,670 20,247 Primary credit 2,297 - 348 + 239 2,607 Secondary credit 0 0 - 1 0 Seasonal credit 36 - 2 + 11 48 Paycheck Protection Program Liquidity Facility 1,990 - 14 - 1,691 1,988 Bank Term Funding Program 16,354 - 1,625 - 106,227 15,603 Other credit extensions7 0 0 0 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 8,469 + 8 - 8,152 8,479 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,607 0 Net portfolio holdings of TALF II LLC8 0 0 - 323 0 Float -281 + 315 - 72 -357 Central bank liquidity swaps9 97 - 8 - 243 97 Other Federal Reserve assets10 32,574 + 1,937 - 4,062 33,882 Foreign currency denominated assets11 17,937 - 79 - 200 17,827 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 10,200 0 + 5,000 10,200 Treasury currency outstanding12 53,061 + 14 + 692 53,061 Total factors supplying reserve funds 6,948,021 - 4,395 - 840,530 6,948,661 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 Dec 11, 2024 Federal Reserve Banks Dec 11, 2024 Dec 4, 2024 Dec 13, 2023 Currency in circulation12 2,361,419 - 2,285 + 30,715 2,359,411 Reverse repurchase agreements13 541,455 - 29,667 - 611,838 596,284 Foreign official and international accounts 394,312 - 2,097 + 68,105 416,164 Others 147,142 - 27,571 - 679,943 180,120 Treasury cash holdings 340 - 11 - 63 334 Deposits with F.R. Banks, other than reserve balances 935,708 - 14,260 + 110,505 873,417 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 775,067 - 14,449 + 116,627 711,354 Foreign official 9,683 - 221 - 8 9,707 Other14 150,958 + 410 - 6,115 152,356 Treasury contributions to credit facilities15 3,461 0 - 6,850 3,461 Other liabilities and capital16 -158,919 + 2,347 - 86,937 -158,051 Total factors, other than reserve balances, absorbing reserve funds 3,683,462 - 43,878 - 564,470 3,674,856 Reserve balances with Federal Reserve Banks 3,264,559 + 39,484 - 276,060 3,273,805 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. 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 Dec 11, 2024 Dec 11, 2024 Dec 4, 2024 Dec 13, 2023 Securities held in custody for foreign official and international accounts 3,296,429 - 20,759 - 92,151 3,288,158 Marketable U.S. Treasury securities1 2,912,103 - 20,929 - 47,464 2,903,649 Federal agency debt and mortgage-backed securities2 297,707 + 14 - 47,852 297,707 Other securities3 86,618 + 154 + 3,164 86,802 Securities lent to dealers 30,009 + 27 - 830 35,109 Overnight facility4 30,009 + 27 - 830 35,109 U.S. Treasury securities 30,009 + 27 - 830 35,109 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, December 11, 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 2,026 16,232 369 1,619 0 ... 20,247 U.S. Treasury securities2 Holdings 16,383 277,832 450,379 1,487,151 548,237 1,535,683 4,315,665 Weekly changes + 2,230 - 2,221 + 7 + 53 + 16 + 35 + 120 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 40 5,587 23,904 2,219,449 2,248,982 Weekly changes 0 0 0 0 0 0 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 46 0 3,450 1,188 ... ... 4,684 Repurchase agreements6 7 0 ... ... ... ... 7 Central bank liquidity swaps7 97 0 0 0 0 0 97 Reverse repurchase agreements6 596,284 0 ... ... ... ... 596,284 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 Dec 11, 2024 Mortgage-backed securities held outright1 2,248,982 Residential mortgage-backed securities 2,240,923 Commercial mortgage-backed securities 8,058 Commitments to buy mortgage-backed securities2 15 Commitments to sell mortgage-backed securities2 146 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 Dec 11, 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) 3,821 4,133 4,345 8,479 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 Dec 11, 2024 Dec 4, 2024 Dec 13, 2023 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 10,200 0 + 5,000 Coin 1,468 + 15 + 29 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,814,432 - 1,489 - 828,437 Securities held outright1 6,566,993 + 119 - 691,989 U.S. Treasury securities 4,315,665 + 120 - 494,069 Bills2 195,293 0 - 32,070 Notes and bonds, nominal2 3,660,946 0 - 441,830 Notes and bonds, inflation-indexed2 341,360 0 - 24,218 Inflation compensation3 118,065 + 120 + 4,048 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,248,982 0 - 197,919 Unamortized premiums on securities held outright5 251,198 - 430 - 29,509 Unamortized discounts on securities held outright5 -24,014 + 176 + 2,388 Repurchase agreements6 7 0 0 Loans7 20,247 - 1,355 - 109,327 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 8,479 + 11 - 8,159 Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,609 Net portfolio holdings of TALF II LLC8 0 0 - 324 Items in process of collection (0) 64 - 5 - 10 Bank premises 521 + 28 + 90 Central bank liquidity swaps9 97 - 4 - 243 Foreign currency denominated assets10 17,827 - 104 - 338 Other assets11 33,361 + 3,207 - 4,079 Total assets (0) 6,897,485 + 1,658 - 842,081 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 Dec 11, 2024 Dec 4, 2024 Dec 13, 2023 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,308,148 - 4,167 + 27,460 Reverse repurchase agreements12 596,284 + 48,721 - 555,948 Deposits (0) 4,147,223 - 44,816 - 220,293 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,273,806 + 57,657 - 293,966 U.S. Treasury, General Account 711,354 - 103,657 + 80,736 Foreign official 9,707 - 176 + 14 Other13 (0) 152,356 + 1,360 - 7,078 Deferred availability cash items (0) 421 - 467 + 90 Treasury contributions to credit facilities14 3,461 0 - 6,850 Other liabilities and accrued dividends15 -202,001 + 2,388 - 87,638 Total liabilities (0) 6,853,535 + 1,658 - 843,181 Capital accounts Capital paid in 37,165 0 + 1,100 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 43,950 0 + 1,100 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. 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, December 11, 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 1,468 52 45 167 44 201 111 247 34 57 97 182 232 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,814,432 142,295 3,658,224 101,532 266,089 678,776 455,638 376,186 95,675 44,495 75,729 301,396 618,397 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 8,479 8,479 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 97 4 34 3 10 19 3 5 2 1 1 2 12 Foreign currency denominated assets4 17,827 744 6,166 628 1,896 3,517 584 875 401 112 194 429 2,282 Other assets5 33,946 811 15,850 590 1,309 3,545 3,082 1,834 820 489 712 1,722 3,182 Interdistrict settlement account 0+ 25,901- 141,647+ 34,902+ 23,352- 52,335+ 10,295- 24,207+ 13,028+ 8,753- 6,481+ 14,696 + 93,743 Total assets 6,897,485 179,015 3,545,291 138,479 293,698 635,280 472,712 356,357 110,594 54,261 70,851 320,213 720,735 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, December 11, 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 2,308,148 85,004 751,129 55,295 114,736 165,868 359,572 106,350 77,806 30,268 31,457 200,482 330,180 Reverse repurchase agreements6 596,284 12,402 320,885 8,884 23,252 59,437 39,894 32,908 8,344 3,725 6,556 26,039 53,958 Deposits 4,147,223 79,017 2,583,428 75,661 160,192 434,136 70,913 229,224 23,181 20,135 32,961 93,505 344,871 Depository institutions 3,273,806 79,012 1,810,282 75,660 160,163 433,648 70,885 129,764 23,173 20,038 32,931 93,433 344,817 U.S. Treasury, General Account 711,354 0 711,354 0 0 0 0 0 0 0 0 0 0 Foreign official 9,707 2 9,681 1 4 8 1 2 1 0 0 1 5 Other7 152,356 3 52,111 0 25 480 26 99,458 7 97 29 71 48 Earnings remittances due to the U.S. Treasury8 -213,419 -4,199 -129,607 -3,163 -9,542 -34,442 73 -15,201 -15 -299 -841 -1,407 -14,776 Treasury contributions to credit facilities9 3,461 3,461 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 11,839 1,476 4,571 275 480 1,714 778 667 185 151 232 345 963 Total liabilities 6,853,535 177,161 3,530,405 136,953 289,119 626,713 471,230 353,948 109,501 53,980 70,365 318,964 715,196 Capital Capital paid in 37,165 1,571 12,540 1,287 3,857 7,228 1,260 2,076 941 238 412 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 6,897,485 179,015 3,545,291 138,479 293,698 635,280 472,712 356,357 110,594 54,261 70,851 320,213 720,735 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, December 11, 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. 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 Dec 11, 2024 Federal Reserve notes outstanding 2,786,914 Less: Notes held by F.R. Banks not subject to collateralization 478,766 Federal Reserve notes to be collateralized 2,308,148 Collateral held against Federal Reserve notes 2,308,148 Gold certificate account 11,037 Special drawing rights certificate account 10,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,286,912 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,567,000 Less: Face value of securities under reverse repurchase agreements 682,716 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,884,285 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.