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 August 21, 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 Aug 20, 2025 Federal Reserve Banks Aug 20, 2025 Aug 13, 2025 Aug 21, 2024 Reserve Bank credit 6,577,208 - 17,960 - 523,829 6,570,797 Securities held outright1 6,324,626 - 3,089 - 393,283 6,321,065 U.S. Treasury securities 4,202,291 - 2,414 - 196,411 4,201,953 Bills2 195,493 0 + 200 195,493 Notes and bonds, nominal2 3,586,963 - 2,736 - 155,460 3,586,507 Notes and bonds, inflation-indexed2 309,427 0 - 34,617 309,427 Inflation compensation3 110,408 + 323 - 6,535 110,526 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,119,988 - 675 - 196,872 2,116,764 Unamortized premiums on securities held outright5 233,713 - 403 - 26,612 233,472 Unamortized discounts on securities held outright5 -23,898 - 96 + 896 -23,845 Repurchase agreements6 29 + 8 + 29 201 Foreign official 0 0 0 0 Others 29 + 8 + 29 201 Loans 6,111 - 335 - 98,497 5,882 Primary credit 4,643 - 343 + 2,508 4,414 Secondary credit 0 0 0 0 Seasonal credit 60 + 10 - 28 61 Paycheck Protection Program Liquidity Facility 1,407 - 2 - 1,162 1,407 Bank Term Funding Program 0 0 - 99,816 0 Other credit extensions7 0 0 0 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 4,282 - 195 - 6,346 4,250 Float -269 + 58 - 9 -331 Central bank liquidity swaps9 46 0 - 105 46 Other Federal Reserve assets10 32,569 - 13,907 + 100 30,059 Foreign currency denominated assets11 19,544 + 39 + 962 19,520 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 15,200 0 + 5,000 15,200 Treasury currency outstanding12 52,914 + 14 + 484 52,914 Total factors supplying reserve funds 6,675,907 - 17,907 - 517,383 6,669,473 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 Aug 20, 2025 Federal Reserve Banks Aug 20, 2025 Aug 13, 2025 Aug 21, 2024 Currency in circulation12 2,403,170 - 675 + 56,490 2,403,844 Reverse repurchase agreements13 389,762 - 31,742 - 332,884 399,066 Foreign official and international accounts 357,523 + 9,702 - 41,719 364,067 Others 32,239 - 41,444 - 291,164 34,999 Treasury cash holdings 423 - 7 + 33 408 Deposits with F.R. Banks, other than reserve balances 747,635 + 14,808 - 152,549 750,398 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 519,534 + 15,230 - 216,960 526,063 Foreign official 9,434 0 - 247 9,435 Other14 218,667 - 422 + 64,658 214,900 Treasury contributions to credit facilities15 2,029 0 - 2,929 2,029 Other liabilities and capital16 -184,404 + 2,466 - 47,250 -183,908 Total factors, other than reserve balances, absorbing reserve funds 3,358,615 - 15,149 - 479,089 3,371,838 Reserve balances with Federal Reserve Banks 3,317,292 - 2,758 - 38,294 3,297,635 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 Aug 20, 2025 Aug 20, 2025 Aug 13, 2025 Aug 21, 2024 Securities held in custody for foreign official and international accounts 3,166,502 - 37,253 - 131,804 3,163,868 Marketable U.S. Treasury securities1 2,831,383 - 35,515 - 87,601 2,835,738 Federal agency debt and mortgage-backed securities2 254,755 - 1,557 - 44,659 248,219 Other securities3 80,364 - 181 + 456 79,911 Securities lent to dealers 33,264 + 2,285 - 2,571 35,034 Overnight facility4 33,264 + 2,285 - 2,571 35,034 U.S. Treasury securities 33,264 + 2,285 - 2,571 35,034 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, August 20, 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 3,111 1,386 1,385 0 0 ... 5,882 U.S. Treasury securities2 Holdings 54,667 158,447 461,246 1,442,905 500,801 1,583,886 4,201,953 Weekly changes - 30,377 + 7,749 + 8,682 + 16,461 - 13,978 + 8,591 - 2,870 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 4,704 46,370 2,065,594 2,116,764 Weekly changes 0 0 0 0 0 - 3,841 - 3,842 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 137 546 1,867 15 ... ... 2,564 Repurchase agreements6 201 0 ... ... ... ... 201 Central bank liquidity swaps7 46 0 0 0 0 0 46 Reverse repurchase agreements6 399,066 0 ... ... ... ... 399,066 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 Aug 20, 2025 Mortgage-backed securities held outright1 2,116,764 Residential mortgage-backed securities 2,108,857 Commercial mortgage-backed securities 7,907 Commitments to buy mortgage-backed securities2 0 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 Aug 20, 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) 1,395 1,931 2,319 4,250 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 Aug 20, 2025 Aug 13, 2025 Aug 21, 2024 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 15,200 0 + 5,000 Coin 1,473 + 5 - 8 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,536,775 - 7,334 - 517,948 Securities held outright1 6,321,065 - 6,711 - 394,097 U.S. Treasury securities 4,201,953 - 2,870 - 196,783 Bills2 195,493 0 + 200 Notes and bonds, nominal2 3,586,507 - 3,192 - 155,937 Notes and bonds, inflation-indexed2 309,427 0 - 34,617 Inflation compensation3 110,526 + 322 - 6,430 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,116,764 - 3,842 - 197,315 Unamortized premiums on securities held outright5 233,472 - 503 - 26,587 Unamortized discounts on securities held outright5 -23,845 - 112 + 867 Repurchase agreements6 201 + 200 + 200 Loans7 5,882 - 208 - 98,330 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 4,250 - 231 - 6,385 Items in process of collection (0) 56 + 2 + 12 Bank premises 568 + 4 + 140 Central bank liquidity swaps9 46 0 - 105 Foreign currency denominated assets10 19,520 - 67 + 735 Other assets11 29,491 - 17,578 - 2,977 Total assets (0) 6,618,415 - 25,200 - 521,537 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 Aug 20, 2025 Aug 13, 2025 Aug 21, 2024 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,352,807 + 453 + 56,816 Reverse repurchase agreements12 399,066 - 3,135 - 319,461 Deposits (0) 4,048,033 - 24,477 - 208,465 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,297,635 - 30,711 - 61,443 U.S. Treasury, General Account 526,063 + 10,594 - 208,664 Foreign official 9,435 + 1 - 246 Other13 (0) 214,900 - 4,361 + 61,889 Deferred availability cash items (0) 387 - 42 + 18 Treasury contributions to credit facilities14 2,029 0 - 2,929 Other liabilities and accrued dividends15 -229,651 + 1,998 - 49,852 Total liabilities (0) 6,572,672 - 25,200 - 523,872 Capital accounts Capital paid in 38,958 0 + 2,335 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 45,743 0 + 2,335 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, August 20, 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 1,473 50 49 178 46 198 116 240 35 60 96 158 246 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,536,775 150,415 3,466,258 128,889 266,887 587,795 431,992 331,589 98,709 44,341 62,710 292,953 674,237 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 4,250 4,250 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 46 2 15 2 5 9 2 3 1 0 1 1 6 Foreign currency denominated assets4 19,520 824 6,585 675 2,024 3,802 661 1,090 494 125 216 570 2,452 Other assets5 30,114 744 13,520 646 1,212 2,967 3,225 1,493 802 387 609 1,412 3,096 Interdistrict settlement account 0- 4,349- 110,641- 6,536- 12,245- 31,105+ 29,925+ 59,313+ 6,441+ 7,734+ 13,440+ 20,617 + 27,407 Total assets 6,618,415 152,834 3,383,851 124,669 259,166 565,557 469,617 395,448 107,277 53,093 77,813 318,006 711,083 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, August 20, 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 2,352,807 79,184 738,004 63,366 117,261 172,916 373,136 110,626 76,815 32,236 39,262 207,286 342,716 Reverse repurchase agreements6 399,066 9,188 211,787 7,873 16,263 35,915 26,393 20,245 6,021 2,665 3,830 17,899 40,987 Deposits 4,048,033 64,562 2,559,232 55,697 130,814 384,094 67,621 280,590 23,056 18,162 35,113 91,739 337,354 Depository institutions 3,297,635 64,552 1,973,972 55,695 130,793 383,465 67,592 116,497 23,032 18,057 35,085 91,590 337,304 U.S. Treasury, General Account 526,063 0 526,063 0 0 0 0 0 0 0 0 0 0 Foreign official 9,435 2 9,409 1 4 8 1 2 1 0 0 1 5 Other7 214,900 8 49,789 0 17 621 27 164,091 23 105 27 148 45 Earnings remittances due to the U.S. Treasury8 -239,850 -5,134 -144,306 -4,032 -10,230 -38,396 95 -19,247 5 -408 -1,203 -577 -16,416 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 10,586 1,124 4,270 243 412 1,149 819 727 216 164 226 333 905 Total liabilities 6,572,672 150,952 3,368,986 123,146 254,520 555,677 468,064 392,940 106,112 52,820 77,227 316,682 705,545 Capital Capital paid in 38,958 1,596 12,577 1,288 3,942 8,558 1,323 2,130 993 229 511 1,126 4,686 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 6,618,415 152,834 3,383,851 124,669 259,166 565,557 469,617 395,448 107,277 53,093 77,813 318,006 711,083 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, August 20, 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 Aug 20, 2025 Federal Reserve notes outstanding 2,812,609 Less: Notes held by F.R. Banks not subject to collateralization 459,802 Federal Reserve notes to be collateralized 2,352,807 Collateral held against Federal Reserve notes 2,352,807 Gold certificate account 11,037 Special drawing rights certificate account 15,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,326,570 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,321,266 Less: Face value of securities under reverse repurchase agreements 461,064 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,860,202 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.