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 February 26, 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 Feb 25, 2026 Federal Reserve Banks Feb 25, 2026 Feb 18, 2026 Feb 26, 2025 Reserve Bank credit 6,570,027 - 6,569 - 159,049 6,565,880 Securities held outright1 6,335,861 + 11,010 - 129,139 6,334,361 U.S. Treasury securities 4,313,593 + 14,857 + 62,269 4,321,596 Bills2 321,306 + 14,877 + 125,963 329,316 Notes and bonds, nominal2 3,602,109 0 - 27,118 3,602,109 Notes and bonds, inflation-indexed2 288,706 0 - 31,299 288,706 Inflation compensation3 101,473 - 19 - 5,277 101,466 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,019,921 - 3,847 - 191,408 2,010,418 Unamortized premiums on securities held outright5 221,446 - 456 - 24,076 221,120 Unamortized discounts on securities held outright5 -24,642 - 157 - 289 -24,632 Repurchase agreements6 10 - 4,423 - 6 3 Foreign official 1 - 74 0 0 Others 9 - 4,349 - 5 3 Loans 4,735 + 23 - 250 4,537 Primary credit 4,627 - 31 + 1,777 4,483 Secondary credit 56 + 56 - 23 0 Seasonal credit 2 + 2 - 1 5 Paycheck Protection Program Liquidity Facility 51 - 3 - 1,847 49 Bank Term Funding Program 0 0 - 157 0 Other credit extensions7 0 0 0 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 1,322 - 2 - 6,003 1,323 Float -314 - 41 + 95 -600 Central bank liquidity swaps9 55 - 3 - 41 55 Other Federal Reserve assets10 31,554 - 12,521 + 660 29,712 Foreign currency denominated assets11 19,497 - 157 + 1,531 19,476 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 15,200 0 0 15,200 Treasury currency outstanding12 52,990 + 14 + 465 52,990 Total factors supplying reserve funds 6,668,755 - 6,711 - 157,053 6,664,586 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 Feb 25, 2026 Federal Reserve Banks Feb 25, 2026 Feb 18, 2026 Feb 26, 2025 Currency in circulation12 2,431,000 + 100 + 77,494 2,432,413 Reverse repurchase agreements13 321,340 - 3,700 - 136,854 329,222 Foreign official and international accounts 320,615 - 3,618 - 56,289 328,063 Others 725 - 82 - 80,565 1,159 Treasury cash holdings 349 + 9 - 26 355 Deposits with F.R. Banks, other than reserve balances 1,142,353 - 16,604 + 286,156 1,089,590 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 887,612 - 25,115 + 206,451 838,975 Foreign official 9,439 0 - 246 9,439 Other14 245,303 + 8,512 + 79,952 241,177 Treasury contributions to credit facilities15 821 0 - 2,640 821 Other liabilities and capital16 -192,873 - 2,478 - 19,700 -192,244 Total factors, other than reserve balances, absorbing reserve funds 3,702,991 - 22,672 + 204,432 3,660,158 Reserve balances with Federal Reserve Banks 2,965,765 + 15,961 - 361,484 3,004,429 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 Feb 25, 2026 Feb 25, 2026 Feb 18, 2026 Feb 26, 2025 Securities held in custody for foreign official and international accounts 3,075,291 - 26,253 - 214,243 3,071,908 Marketable U.S. Treasury securities1 2,778,088 - 25,037 - 143,287 2,775,568 Federal agency debt and mortgage-backed securities2 219,524 - 1,028 - 61,990 218,781 Other securities3 77,679 - 188 - 8,966 77,559 Securities lent to dealers 31,081 - 4,493 + 6,957 29,765 Overnight facility4 31,081 - 4,493 + 6,957 29,765 U.S. Treasury securities 31,081 - 4,493 + 6,957 29,765 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, February 25, 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 2,748 1,778 12 0 0 ... 4,537 U.S. Treasury securities2 Holdings 62,087 266,868 496,769 1,411,100 492,751 1,592,021 4,321,596 Weekly changes + 687 + 8,695 + 6,634 - 9 - 2 - 7 + 16,000 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 21 14 4,779 74,548 1,931,055 2,010,418 Weekly changes 0 + 21 - 22 - 66 - 1,367 - 11,876 - 13,309 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 915 45 94 0 ... ... 1,053 Repurchase agreements6 3 0 ... ... ... ... 3 Central bank liquidity swaps7 55 0 0 0 0 0 55 Reverse repurchase agreements6 329,222 0 ... ... ... ... 329,222 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 Feb 25, 2026 Mortgage-backed securities held outright1 2,010,418 Residential mortgage-backed securities 2,002,731 Commercial mortgage-backed securities 7,687 Commitments to buy mortgage-backed securities2 74 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 Feb 25, 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) 0 274 1,049 1,323 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 December 31, 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 Feb 25, 2026 Feb 18, 2026 Feb 26, 2025 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 15,200 0 0 Coin 1,547 - 8 - 38 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,535,390 + 1,631 - 147,970 Securities held outright1 6,334,361 + 2,691 - 122,633 U.S. Treasury securities 4,321,596 + 16,000 + 70,258 Bills2 329,316 + 16,020 + 133,973 Notes and bonds, nominal2 3,602,109 0 - 27,118 Notes and bonds, inflation-indexed2 288,706 0 - 31,299 Inflation compensation3 101,466 - 20 - 5,298 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 2,010,418 - 13,309 - 192,891 Unamortized premiums on securities held outright5 221,120 - 666 - 24,083 Unamortized discounts on securities held outright5 -24,632 - 101 - 356 Repurchase agreements6 3 - 3 - 94 Loans7 4,537 - 291 - 804 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 1,323 + 1 - 6,008 Items in process of collection (0) 58 + 2 + 6 Bank premises 676 + 12 + 83 Central bank liquidity swaps9 55 - 3 - 41 Foreign currency denominated assets10 19,476 - 74 + 1,453 Other assets11 29,035 - 1,158 + 212 Total assets (0) 6,613,797 + 402 - 152,304 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 Feb 25, 2026 Feb 18, 2026 Feb 26, 2025 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,381,321 + 1,334 + 76,559 Reverse repurchase agreements12 329,222 - 126 - 182,562 Deposits (0) 4,094,019 + 1,340 - 23,585 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,004,429 + 44,468 - 376,332 U.S. Treasury, General Account 838,975 - 49,879 + 270,425 Foreign official 9,439 0 - 246 Other13 (0) 241,177 + 6,751 + 82,570 Deferred availability cash items (0) 657 + 208 - 363 Treasury contributions to credit facilities14 821 0 - 2,640 Other liabilities and accrued dividends15 -238,535 - 2,364 - 21,805 Total liabilities (0) 6,567,506 + 392 - 154,396 Capital accounts Capital paid in 39,506 + 10 + 2,092 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 46,291 + 10 + 2,092 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, February 25, 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 1,547 53 61 188 48 211 110 251 39 65 110 150 261 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,535,390 150,662 3,466,465 128,892 266,217 587,829 431,933 331,560 98,734 43,666 62,693 293,105 673,633 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 1,323 1,323 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 55 2 18 2 6 11 2 3 1 0 1 2 7 Foreign currency denominated assets4 19,476 823 6,570 674 2,020 3,793 660 1,088 493 125 216 568 2,446 Other assets5 29,769 727 13,282 644 1,197 2,968 3,148 1,468 847 378 607 1,396 3,107 Interdistrict settlement account 0+ 15,135- 176,541- 6,372- 11,430- 72,445+ 12,092+ 107,069+ 8,100+ 20,068+ 28,075+ 27,322 + 48,926 Total assets 6,613,797 169,622 3,317,921 124,844 259,296 524,259 451,640 443,160 109,009 64,749 92,442 324,837 732,019 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, February 25, 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 2,381,321 83,170 737,566 65,193 116,742 170,363 355,872 118,940 77,933 39,038 47,494 213,335 355,675 Reverse repurchase agreements6 329,222 7,580 174,720 6,495 13,417 29,629 21,774 16,702 4,967 2,199 3,159 14,767 33,814 Deposits 4,094,019 80,892 2,532,878 55,516 134,443 353,595 71,053 326,691 24,712 23,560 42,450 95,202 353,027 Depository institutions 3,004,429 80,886 1,629,207 55,514 134,419 352,889 71,042 141,766 24,708 23,453 42,422 95,137 352,984 U.S. Treasury, General Account 838,975 0 838,975 0 0 0 0 0 0 0 0 0 0 Foreign official 9,439 2 9,412 1 4 8 1 2 1 0 0 1 5 Other7 241,177 4 55,284 0 20 698 10 184,923 4 107 27 63 38 Earnings remittances due to the U.S. Treasury8 -245,560 -5,568 -144,248 -4,093 -10,485 -40,443 85 -22,250 6 -516 -1,495 31 -16,584 Treasury contributions to credit facilities9 821 821 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 7,682 783 2,171 200 293 1,054 1,098 542 256 193 196 301 595 Total liabilities 6,567,506 167,678 3,303,088 123,311 254,410 514,197 449,882 440,624 107,875 64,473 91,805 323,636 726,526 Capital Capital paid in 39,506 1,661 12,647 1,309 4,196 8,573 1,516 2,165 964 235 548 1,009 4,683 Surplus 6,785 283 2,185 224 690 1,488 242 371 170 40 89 193 810 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 6,613,797 169,622 3,317,921 124,844 259,296 524,259 451,640 443,160 109,009 64,749 92,442 324,837 732,019 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, February 25, 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 Feb 25, 2026 Federal Reserve notes outstanding 2,820,058 Less: Notes held by F.R. Banks not subject to collateralization 438,737 Federal Reserve notes to be collateralized 2,381,321 Collateral held against Federal Reserve notes 2,381,321 Gold certificate account 11,037 Special drawing rights certificate account 15,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,355,084 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,334,364 Less: Face value of securities under reverse repurchase agreements 360,029 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,974,335 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.