H.4.1 Factors Affecting Reserve Balances of Depository Institutions

FEDERAL RESERVE statistical release For Release at 4:30 P.M. Eastern Time July 31, 2025 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 June 30, 2025.

FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks July 31, 2025 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 Jul 30, 2025 Federal Reserve Banks Jul 30, 2025 Jul 23, 2025 Jul 31, 2024 Reserve Bank credit 6,596,490 - 15,070 - 549,278 6,594,281 Securities held outright1 6,331,879 - 13,995 - 411,023 6,329,935 U.S. Treasury securities 4,206,844 + 196 - 215,521 4,206,916 Bills2 195,493 0 + 200 195,493 Notes and bonds, nominal2 3,593,851 0 - 173,289 3,593,851 Notes and bonds, inflation-indexed2 307,997 0 - 35,149 307,997 Inflation compensation3 109,503 + 197 - 7,283 109,575 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,122,688 - 14,191 - 195,502 2,120,672 Unamortized premiums on securities held outright5 234,899 - 701 - 26,852 234,713 Unamortized discounts on securities held outright5 -23,706 + 99 + 719 -23,635 Repurchase agreements6 1 0 0 0 Foreign official 0 0 0 0 Others 1 0 0 0 Loans 6,945 + 305 - 104,616 7,050 Primary credit 5,491 + 315 - 1,122 5,595 Secondary credit 0 0 - 1 0 Seasonal credit 42 + 7 - 29 43 Paycheck Protection Program Liquidity Facility 1,411 - 18 - 1,289 1,411 Bank Term Funding Program 0 0 - 102,176 0 Other credit extensions7 0 0 0 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 4,463 - 85 - 6,404 4,471 Float -457 - 156 - 38 -1,326 Central bank liquidity swaps9 57 - 27 - 98 57 Other Federal Reserve assets10 42,409 - 511 - 966 43,016 Foreign currency denominated assets11 19,469 - 33 + 1,380 19,222 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 15,200 0 + 5,000 15,200 Treasury currency outstanding12 53,187 + 14 + 728 53,187 Total factors supplying reserve funds 6,695,387 - 15,090 - 542,171 6,692,931 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 Jul 30, 2025 Federal Reserve Banks Jul 30, 2025 Jul 23, 2025 Jul 31, 2024 Currency in circulation12 2,400,028 + 1,315 + 53,297 2,401,980 Reverse repurchase agreements13 525,708 - 46,159 - 258,385 525,681 Foreign official and international accounts 371,326 - 1,794 - 28,947 370,200 Others 154,382 - 44,365 - 229,438 155,481 Treasury cash holdings 423 - 3 + 21 409 Deposits with F.R. Banks, other than reserve balances 605,589 + 48,800 - 338,227 648,487 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 370,507 + 47,331 - 415,979 419,446 Foreign official 9,438 + 3 - 246 9,438 Other14 225,643 + 1,465 + 77,997 219,603 Treasury contributions to credit facilities15 2,029 0 - 2,929 2,029 Other liabilities and capital16 -185,804 - 4,181 - 49,843 -185,352 Total factors, other than reserve balances, absorbing reserve funds 3,347,973 - 227 - 596,065 3,393,235 Reserve balances with Federal Reserve Banks 3,347,414 - 14,863 + 53,895 3,299,696 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 Jul 30, 2025 Jul 30, 2025 Jul 23, 2025 Jul 31, 2024 Securities held in custody for foreign official and international accounts 3,228,400 + 10,076 - 72,778 3,243,083 Marketable U.S. Treasury securities1 2,889,153 + 12,856 - 30,729 2,905,748 Federal agency debt and mortgage-backed securities2 256,460 - 2,043 - 44,647 256,373 Other securities3 82,788 - 736 + 2,598 80,962 Securities lent to dealers 33,296 - 1,088 - 2,897 32,854 Overnight facility4 33,296 - 1,088 - 2,897 32,854 U.S. Treasury securities 33,296 - 1,088 - 2,897 32,854 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, July 30, 2025 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 2,888 2,774 1,388 0 0 ... 7,050 U.S. Treasury securities2 Holdings 67,487 166,106 448,282 1,440,549 510,290 1,574,202 4,206,916 Weekly changes + 7,329 - 7,089 - 207 + 84 + 15 + 65 + 196 Federal agency debt securities3 Holdings 0 0 0 1,436 911 0 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 0 96 4,668 38,394 2,077,514 2,120,672 Weekly changes 0 0 0 - 65 - 950 - 13,096 - 14,112 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 83 452 2,069 15 ... ... 2,618 Repurchase agreements6 0 0 ... ... ... ... 0 Central bank liquidity swaps7 57 0 0 0 0 0 57 Reverse repurchase agreements6 525,681 0 ... ... ... ... 525,681 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; the Paycheck Protection Program Liquidity Facility (PPPLF); 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 Jul 30, 2025 Mortgage-backed securities held outright1 2,120,672 Residential mortgage-backed securities 2,112,755 Commercial mortgage-backed securities 7,917 Commitments to buy mortgage-backed securities2 0 Commitments to sell mortgage-backed securities2 67 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 Jul 30, 2025 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) 1,626 1,994 2,476 4,471 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, 2025. 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 Jul 30, 2025 Jul 23, 2025 Jul 31, 2024 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 15,200 0 + 5,000 Coin 1,453 + 7 + 19 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,548,063 - 14,136 - 535,069 Securities held outright1 6,329,935 - 13,916 - 404,217 U.S. Treasury securities 4,206,916 + 196 - 206,699 Bills2 195,493 0 + 200 Notes and bonds, nominal2 3,593,851 0 - 163,577 Notes and bonds, inflation-indexed2 307,997 0 - 36,047 Inflation compensation3 109,575 + 196 - 7,275 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,120,672 - 14,112 - 197,518 Unamortized premiums on securities held outright5 234,713 - 674 - 26,877 Unamortized discounts on securities held outright5 -23,635 + 100 + 735 Repurchase agreements6 0 - 3 - 5 Loans7 7,050 + 356 - 104,705 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 4,471 - 82 - 6,407 Items in process of collection (0) 59 - 4 + 4 Bank premises 576 + 4 + 138 Central bank liquidity swaps9 57 - 27 - 98 Foreign currency denominated assets10 19,222 - 415 + 1,012 Other assets11 42,440 - 484 - 410 Total assets (0) 6,642,578 - 15,137 - 535,813 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 Jul 30, 2025 Jul 23, 2025 Jul 31, 2024 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,350,651 + 2,881 + 53,190 Reverse repurchase agreements12 525,681 - 41,325 - 287,580 Deposits (0) 3,948,183 + 26,996 - 248,875 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,299,696 - 58,687 + 120,996 U.S. Treasury, General Account 419,446 + 85,908 - 434,555 Foreign official 9,438 + 4 - 247 Other13 (0) 219,603 - 229 + 64,930 Deferred availability cash items (0) 1,386 + 879 + 301 Treasury contributions to credit facilities14 2,029 0 - 2,929 Other liabilities and accrued dividends15 -230,910 - 4,568 - 52,180 Total liabilities (0) 6,597,020 - 15,137 - 538,073 Capital accounts Capital paid in 38,774 + 1 + 2,262 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 45,559 + 1 + 2,262 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, July 30, 2025 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 26,237 898 8,066 815 1,238 1,891 3,695 1,720 794 446 740 2,294 3,640 Coin 1,453 51 49 174 44 201 105 241 33 59 95 159 240 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,548,063 150,639 3,471,752 129,112 267,314 588,696 432,713 332,126 98,835 44,377 62,830 293,770 675,900 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 4,471 4,471 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 57 2 19 2 6 11 2 3 1 0 1 2 7 Foreign currency denominated assets4 19,222 812 6,485 665 1,993 3,744 651 1,073 487 124 213 561 2,414 Other assets5 43,075 1,043 20,435 904 1,758 4,127 4,132 2,152 822 516 769 1,998 4,419 Interdistrict settlement account 0- 503- 136,478- 8,073- 22,607- 12,988+ 39,018+ 67,708+ 10,595+ 7,107+ 15,224+ 9,423 + 31,576 Total assets 6,642,578 157,413 3,370,328 123,600 249,745 585,683 480,315 405,023 111,567 52,629 79,872 308,206 718,196 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, July 30, 2025 (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 2,350,651 79,690 738,441 62,708 117,987 172,655 375,261 108,079 77,189 31,430 38,563 206,373 342,274 Reverse repurchase agreements6 525,681 12,104 278,981 10,371 21,423 47,310 34,767 26,668 7,931 3,511 5,045 23,579 53,992 Deposits 3,948,183 65,782 2,478,772 52,833 115,603 393,185 66,912 286,186 25,115 17,677 36,650 77,357 332,111 Depository institutions 3,299,696 65,769 1,995,510 52,832 115,583 392,859 66,873 121,605 25,108 17,576 36,619 77,289 332,073 U.S. Treasury, General Account 419,446 0 419,446 0 0 0 0 0 0 0 0 0 0 Foreign official 9,438 2 9,412 1 4 8 1 2 1 0 0 1 5 Other7 219,603 11 54,404 0 15 318 38 164,579 6 100 31 66 34 Earnings remittances due to the U.S. Treasury8 -238,083 -5,122 -143,287 -4,022 -10,171 -38,123 68 -18,893 1 -405 -1,164 -673 -16,294 Treasury contributions to credit facilities9 2,029 2,029 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 8,559 1,059 2,563 188 262 892 1,757 486 194 144 195 244 575 Total liabilities 6,597,020 155,541 3,355,471 122,078 245,104 575,920 478,765 402,526 110,431 52,357 79,288 306,880 712,659 Capital Capital paid in 38,774 1,585 12,568 1,287 3,938 8,442 1,321 2,118 965 229 508 1,128 4,685 Surplus 6,785 287 2,288 235 704 1,322 230 379 172 44 75 198 852 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 6,642,578 157,413 3,370,328 123,600 249,745 585,683 480,315 405,023 111,567 52,629 79,872 308,206 718,196 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, July 30, 2025 (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; the Paycheck Protection Program Liquidity Facility; 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: On July 15, 2020, the Federal Reserve Bank of Boston (FRBB) began extending loans to the MS Facilities 2020 LLC, under the authority of section 13(3) of the Federal Reserve Act. The LLC is 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 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 FRBB is the managing member of MS Facilities 2020 LLC. Consistent with generally accepted accounting principles, the assets and liabilities of the LLC have been accounted for and consolidated with the assets and liabilities of the FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the FRBB to the LLC is eliminated as are any balances held at the Federal Reserve Bank of New York (FRBNY) for the LLC consolidated to the FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appear as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the 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). Net portfolio holdings of the LLC include assets purchased pursuant to terms of the credit facility and the amount provided by U.S. Treasury as credit protection to the FRBB appear 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 Jul 30, 2025 Federal Reserve notes outstanding 2,808,329 Less: Notes held by F.R. Banks not subject to collateralization 457,678 Federal Reserve notes to be collateralized 2,350,651 Collateral held against Federal Reserve notes 2,350,651 Gold certificate account 11,037 Special drawing rights certificate account 15,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,324,414 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,329,935 Less: Face value of securities under reverse repurchase agreements 605,933 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,724,002 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.