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 January 15, 2026 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 Jan 14, 2026 Federal Reserve Banks Jan 14, 2026 Jan 7, 2026 Jan 15, 2025 Reserve Bank credit 6,532,889 - 6,634 - 272,039 6,534,371 Securities held outright1 6,283,619 + 13,550 - 240,689 6,284,624 U.S. Treasury securities 4,242,248 + 13,550 - 46,459 4,243,253 Bills2 248,755 + 13,997 + 53,412 249,922 Notes and bonds, nominal2 3,567,471 0 - 70,899 3,567,471 Notes and bonds, inflation-indexed2 312,274 0 - 26,062 312,274 Inflation compensation3 113,748 - 447 - 2,910 113,587 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,039,024 0 - 194,230 2,039,024 Unamortized premiums on securities held outright5 224,169 - 381 - 24,554 224,020 Unamortized discounts on securities held outright5 -23,709 - 55 - 165 -23,643 Repurchase agreements6 15 - 20,416 + 15 1 Foreign official 0 0 0 1 Others 15 - 20,416 + 15 0 Loans 5,961 - 2,132 - 976 5,431 Primary credit 5,899 - 2,130 + 3,367 5,370 Secondary credit 0 0 0 0 Seasonal credit 0 - 2 - 1 0 Paycheck Protection Program Liquidity Facility 62 - 1 - 1,889 61 Bank Term Funding Program 0 0 - 2,454 0 Other credit extensions7 0 0 0 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 1,571 - 23 - 6,610 1,574 Float -305 + 119 + 17 -311 Central bank liquidity swaps9 122 - 359 + 24 122 Other Federal Reserve assets10 41,446 + 3,063 + 899 42,553 Foreign currency denominated assets11 19,194 - 153 + 1,828 19,202 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 15,200 0 0 15,200 Treasury currency outstanding12 52,906 + 14 + 399 52,906 Total factors supplying reserve funds 6,631,230 - 6,773 - 269,812 6,632,720 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 Jan 14, 2026 Federal Reserve Banks Jan 14, 2026 Jan 7, 2026 Jan 15, 2025 Currency in circulation12 2,436,151 - 8,338 + 76,467 2,433,213 Reverse repurchase agreements13 322,737 - 30,364 - 227,967 317,751 Foreign official and international accounts 319,476 - 14,105 - 64,300 314,528 Others 3,261 - 16,259 - 163,666 3,223 Treasury cash holdings 319 - 2 + 2 319 Deposits with F.R. Banks, other than reserve balances 1,013,492 - 18,757 + 199,207 1,010,245 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 779,175 - 16,973 + 137,950 777,061 Foreign official 9,440 + 2 - 248 9,439 Other14 224,877 - 1,786 + 61,504 223,745 Treasury contributions to credit facilities15 821 0 - 2,640 821 Other liabilities and capital16 -191,920 - 2,564 - 23,694 -191,389 Total factors, other than reserve balances, absorbing reserve funds 3,581,600 - 60,025 + 21,375 3,570,960 Reserve balances with Federal Reserve Banks 3,049,630 + 53,251 - 291,186 3,061,760 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 Jan 14, 2026 Jan 14, 2026 Jan 7, 2026 Jan 15, 2025 Securities held in custody for foreign official and international accounts 3,061,714 + 21,391 - 178,511 3,061,578 Marketable U.S. Treasury securities1 2,759,231 + 22,066 - 100,978 2,760,715 Federal agency debt and mortgage-backed securities2 224,408 - 264 - 69,313 222,842 Other securities3 78,076 - 410 - 8,219 78,022 Securities lent to dealers 32,720 - 5,159 + 2,558 34,691 Overnight facility4 32,720 - 5,159 + 2,558 34,691 U.S. Treasury securities 32,720 - 5,159 + 2,558 34,691 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, January 14, 2026 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 2,198 3,212 21 0 0 ... 5,431 U.S. Treasury securities2 Holdings 68,778 222,464 454,722 1,409,619 491,646 1,596,025 4,243,253 Weekly changes - 445 + 7,602 + 939 + 8,524 - 8,748 - 145 + 7,726 Federal agency debt securities3 Holdings 0 0 0 1,818 529 0 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 28 36 4,895 59,200 1,974,865 2,039,024 Weekly changes 0 0 0 0 0 0 0 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 986 123 89 0 ... ... 1,198 Repurchase agreements6 1 0 ... ... ... ... 1 Central bank liquidity swaps7 122 0 0 0 0 0 122 Reverse repurchase agreements6 317,751 0 ... ... ... ... 317,751 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 days category has reached contractual maturity, and collection is expected based upon the terms of the PPPLF. 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. A component of loan participations held by MS Facilities 2020 LLC presented in the Within 15 days category has reached contractual maturity, and collectability is assessed in accordance with the MS Facilities 2020 LLC policy. 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 Jan 14, 2026 Mortgage-backed securities held outright1 2,039,024 Residential mortgage-backed securities 2,031,272 Commercial mortgage-backed securities 7,752 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 Jan 14, 2026 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) 0 617 956 1,574 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, 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 Jan 14, 2026 Jan 7, 2026 Jan 15, 2025 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 15,200 0 0 Coin 1,513 + 29 + 11 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,490,433 + 5,511 - 250,223 Securities held outright1 6,284,624 + 7,727 - 225,542 U.S. Treasury securities 4,243,253 + 7,726 - 31,362 Bills2 249,922 + 8,165 + 54,579 Notes and bonds, nominal2 3,567,471 0 - 86,164 Notes and bonds, inflation-indexed2 312,274 0 - 6,620 Inflation compensation3 113,587 - 438 + 6,844 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,039,024 0 - 194,181 Unamortized premiums on securities held outright5 224,020 - 373 - 24,532 Unamortized discounts on securities held outright5 -23,643 + 11 + 368 Repurchase agreements6 1 + 1 + 1 Loans7 5,431 - 1,856 - 517 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 1,574 + 3 - 6,075 Items in process of collection (0) 65 - 8 + 13 Bank premises 645 + 8 + 58 Central bank liquidity swaps9 122 - 359 + 24 Foreign currency denominated assets10 19,202 - 88 + 1,768 Other assets11 41,909 + 3,001 + 2,053 Total assets (0) 6,581,700 + 8,098 - 252,370 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 Jan 14, 2026 Jan 7, 2026 Jan 15, 2025 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,382,135 - 8,717 + 77,398 Reverse repurchase agreements12 317,751 - 10,549 - 186,890 Deposits (0) 4,072,005 + 30,192 - 116,438 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,061,760 + 38,763 - 297,281 U.S. Treasury, General Account 777,061 - 6,510 + 125,874 Foreign official 9,439 0 - 249 Other13 (0) 223,745 - 2,060 + 55,219 Deferred availability cash items (0) 376 - 80 - 23 Treasury contributions to credit facilities14 821 0 - 2,640 Other liabilities and accrued dividends15 -237,461 - 2,748 - 25,795 Total liabilities (0) 6,535,627 + 8,097 - 254,387 Capital accounts Capital paid in 39,288 0 + 2,017 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 46,073 0 + 2,017 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, January 14, 2026 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 1,513 49 62 189 44 198 120 236 35 63 103 162 249 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,490,433 149,502 3,442,054 128,007 264,290 583,678 428,956 329,334 97,951 43,396 62,288 291,236 669,743 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 1,574 1,574 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 122 5 41 4 13 24 4 7 3 1 1 4 15 Foreign currency denominated assets4 19,202 811 6,478 664 1,992 3,740 651 1,072 486 123 213 560 2,412 Other assets5 42,619 1,026 20,153 893 1,734 4,148 4,033 2,127 819 514 752 1,979 4,440 Interdistrict settlement account 0+ 6,367- 120,798- 4,668- 15,969- 64,348+ 19,272+ 74,303+ 10,366+ 18,144+ 23,448+ 28,729 + 25,154 Total assets 6,581,700 160,232 3,356,055 125,904 253,342 529,331 456,731 408,799 110,455 62,688 87,544 324,965 705,653 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, January 14, 2026 (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 2,382,135 82,090 740,201 65,657 117,691 171,169 359,695 116,637 78,631 38,531 46,229 212,349 353,257 Reverse repurchase agreements6 317,751 7,316 168,632 6,269 12,949 28,597 21,015 16,120 4,794 2,122 3,049 14,252 32,636 Deposits 4,072,005 72,513 2,574,525 56,351 128,218 358,535 73,552 294,588 25,708 22,078 38,890 96,816 330,231 Depository institutions 3,061,760 72,508 1,734,493 56,350 128,191 358,266 73,539 124,872 25,703 22,026 38,864 96,748 330,201 U.S. Treasury, General Account 777,061 0 777,061 0 0 0 0 0 0 0 0 0 0 Foreign official 9,439 2 9,413 1 4 8 1 2 1 0 0 1 5 Other7 223,745 4 53,558 0 22 261 12 169,714 3 52 26 67 25 Earnings remittances due to the U.S. Treasury8 -243,700 -5,424 -144,184 -4,072 -10,439 -39,733 58 -21,522 -12 -456 -1,417 4 -16,503 Treasury contributions to credit facilities9 821 821 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 6,615 989 1,984 174 234 855 680 458 183 135 172 245 506 Total liabilities 6,535,627 158,306 3,341,157 124,378 248,653 519,422 455,000 406,281 109,303 62,412 86,923 323,666 700,127 Capital Capital paid in 39,288 1,639 12,610 1,291 3,985 8,588 1,501 2,140 981 232 546 1,101 4,674 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 6,581,700 160,232 3,356,055 125,904 253,342 529,331 456,731 408,799 110,455 62,688 87,544 324,965 705,653 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, January 14, 2026 (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 Jan 14, 2026 Federal Reserve notes outstanding 2,818,587 Less: Notes held by F.R. Banks not subject to collateralization 436,451 Federal Reserve notes to be collateralized 2,382,135 Collateral held against Federal Reserve notes 2,382,135 Gold certificate account 11,037 Special drawing rights certificate account 15,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,355,898 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,284,625 Less: Face value of securities under reverse repurchase agreements 360,694 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,923,931 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.