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 March 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 Mar 25, 2026 Federal Reserve Banks Mar 25, 2026 Mar 18, 2026 Mar 26, 2025 Reserve Bank credit 6,613,609 + 10,647 - 89,991 6,609,950 Securities held outright1 6,375,679 + 9,264 - 60,908 6,374,092 U.S. Treasury securities 4,366,873 + 13,200 + 129,687 4,375,064 Bills2 373,559 + 12,875 + 178,216 381,630 Notes and bonds, nominal2 3,602,109 0 - 9,932 3,602,109 Notes and bonds, inflation-indexed2 288,706 0 - 32,206 288,706 Inflation compensation3 102,500 + 325 - 6,391 102,620 Federal agency debt securities2 2,347 0 0 2,347 Mortgage-backed securities4 2,006,458 - 3,938 - 190,595 1,996,680 Unamortized premiums on securities held outright5 219,775 - 453 - 23,834 219,455 Unamortized discounts on securities held outright5 -25,096 - 235 - 1,261 -25,077 Repurchase agreements6 9 + 7 + 5 7 Foreign official 2 + 1 + 2 6 Others 8 + 6 + 4 1 Loans 5,230 + 274 + 836 5,271 Primary credit 5,178 + 276 + 2,645 5,216 Secondary credit 0 0 0 0 Seasonal credit 9 + 1 + 3 11 Paycheck Protection Program Liquidity Facility 43 - 3 - 1,813 43 Bank Term Funding Program 0 0 0 0 Other credit extensions7 0 0 0 0 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 1,325 0 - 5,952 1,325 Float -282 0 + 27 -273 Central bank liquidity swaps9 28 + 10 - 58 28 Other Federal Reserve assets10 36,941 + 1,782 + 1,156 35,123 Foreign currency denominated assets11 19,112 + 103 + 760 19,123 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 15,200 0 0 15,200 Treasury currency outstanding12 53,046 + 14 + 504 53,046 Total factors supplying reserve funds 6,712,008 + 10,764 - 88,727 6,708,360 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 Mar 25, 2026 Federal Reserve Banks Mar 25, 2026 Mar 18, 2026 Mar 26, 2025 Currency in circulation12 2,445,034 + 2,629 + 75,313 2,446,604 Reverse repurchase agreements13 330,872 + 3,806 - 255,970 334,136 Foreign official and international accounts 330,035 + 3,468 - 49,962 333,359 Others 837 + 338 - 206,008 777 Treasury cash holdings 377 + 5 - 42 384 Deposits with F.R. Banks, other than reserve balances 1,132,378 + 32,050 + 568,790 1,081,013 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 874,077 + 21,025 + 513,900 837,412 Foreign official 9,468 + 17 + 31 9,437 Other14 248,833 + 11,009 + 54,858 234,163 Treasury contributions to credit facilities15 821 0 - 2,640 821 Other liabilities and capital16 -191,430 - 1,686 - 17,202 -190,672 Total factors, other than reserve balances, absorbing reserve funds 3,718,052 + 36,804 + 368,250 3,672,286 Reserve balances with Federal Reserve Banks 2,993,955 - 26,040 - 456,978 3,036,073 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 Mar 25, 2026 Mar 25, 2026 Mar 18, 2026 Mar 26, 2025 Securities held in custody for foreign official and international accounts 3,009,175 - 16,016 - 288,065 2,990,053 Marketable U.S. Treasury securities1 2,712,257 - 15,408 - 220,309 2,694,049 Federal agency debt and mortgage-backed securities2 218,069 - 1,010 - 59,071 217,202 Other securities3 78,848 + 401 - 8,687 78,803 Securities lent to dealers 35,351 - 2,677 + 10,087 36,939 Overnight facility4 35,351 - 2,677 + 10,087 36,939 U.S. Treasury securities 35,351 - 2,677 + 10,087 36,939 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, March 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 3,096 2,174 1 0 0 ... 5,271 U.S. Treasury securities2 Holdings 68,978 304,017 520,514 1,390,885 496,314 1,594,357 4,375,064 Weekly changes - 7,403 + 12,583 + 11,011 + 132 + 28 + 117 + 16,467 Federal agency debt securities3 Holdings 0 0 0 2,134 213 0 2,347 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities4 Holdings 0 19 14 4,798 79,972 1,911,878 1,996,680 Weekly changes 0 - 2 0 - 64 - 1,394 - 12,228 - 13,690 Loan participations held by MS Facilities 2020 LLC (Main Street Lending Program)5 815 69 88 0 ... ... 972 Repurchase agreements6 7 0 ... ... ... ... 7 Central bank liquidity swaps7 28 0 0 0 0 0 28 Reverse repurchase agreements6 334,136 0 ... ... ... ... 334,136 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 Mar 25, 2026 Mortgage-backed securities held outright1 1,996,680 Residential mortgage-backed securities 1,989,009 Commercial mortgage-backed securities 7,672 Commitments to buy mortgage-backed securities2 15 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 Mar 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) 0 190 1,135 1,325 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 Mar 25, 2026 Mar 18, 2026 Mar 26, 2025 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 15,200 0 0 Coin 1,517 - 12 - 52 Securities, unamortized premiums and discounts, repurchase agreements, and loans 6,573,747 + 2,238 - 78,656 Securities held outright1 6,374,092 + 2,778 - 54,673 U.S. Treasury securities 4,375,064 + 16,467 + 137,645 Bills2 381,630 + 16,142 + 186,287 Notes and bonds, nominal2 3,602,109 0 - 9,932 Notes and bonds, inflation-indexed2 288,706 0 - 32,206 Inflation compensation3 102,620 + 326 - 6,503 Federal agency debt securities2 2,347 0 0 Mortgage-backed securities4 1,996,680 - 13,690 - 192,319 Unamortized premiums on securities held outright5 219,455 - 645 - 23,852 Unamortized discounts on securities held outright5 -25,077 - 229 - 1,320 Repurchase agreements6 7 + 1 + 7 Loans7 5,271 + 334 + 1,182 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8 1,325 0 - 5,960 Items in process of collection (0) 61 + 15 - 11 Bank premises 674 + 4 + 78 Central bank liquidity swaps9 28 + 10 - 58 Foreign currency denominated assets10 19,123 + 81 + 844 Other assets11 34,449 - 1,113 + 722 Total assets (0) 6,657,161 + 1,222 - 83,092 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 Mar 25, 2026 Mar 18, 2026 Mar 26, 2025 Liabilities Federal Reserve notes, net of F.R. Bank holdings 2,395,455 + 2,658 + 73,373 Reverse repurchase agreements12 334,136 + 2,784 - 294,475 Deposits (0) 4,117,086 - 2,338 + 157,881 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 3,036,073 + 37,264 - 414,477 U.S. Treasury, General Account 837,412 - 38,421 + 521,442 Foreign official 9,437 - 3 + 1 Other13 (0) 234,163 - 1,178 + 50,914 Deferred availability cash items (0) 334 - 7 - 108 Treasury contributions to credit facilities14 821 0 - 2,640 Other liabilities and accrued dividends15 -237,104 - 1,965 - 19,335 Total liabilities (0) 6,610,728 + 1,133 - 85,304 Capital accounts Capital paid in 39,648 + 90 + 2,212 Surplus 6,785 0 0 Other capital accounts 0 0 0 Total capital 46,433 + 90 + 2,212 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, March 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 1,517 53 61 186 44 213 99 253 35 65 109 143 255 Securities, unamortized premiums and discounts, repurchase agreements, and loans1 6,573,747 151,646 3,486,643 129,644 267,743 591,211 434,419 333,681 99,201 43,914 63,127 295,049 677,469 Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)2 1,325 1,325 0 0 0 0 0 0 0 0 0 0 0 Central bank liquidity swaps3 28 1 10 1 3 5 1 2 1 0 0 1 4 Foreign currency denominated assets4 19,123 808 6,451 662 1,983 3,725 648 1,068 484 123 212 558 2,402 Other assets5 35,184 853 16,272 755 1,434 3,463 3,496 1,752 705 430 682 1,649 3,692 Interdistrict settlement account 0+ 18,284- 148,383- 9,391- 28,607- 39,156+ 8,806+ 89,541+ 9,320+ 19,716+ 30,793+ 27,495 + 21,583 Total assets 6,657,161 173,868 3,369,119 122,672 243,838 561,352 451,163 428,017 110,539 64,695 95,663 327,190 709,044 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, March 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 2,395,455 83,857 739,910 63,659 116,630 170,907 355,504 122,001 78,380 39,674 50,011 216,287 358,634 Reverse repurchase agreements6 334,136 7,693 177,328 6,592 13,617 30,071 22,099 16,951 5,041 2,232 3,206 14,987 34,319 Deposits 4,117,086 84,329 2,577,470 54,733 118,797 389,918 70,881 308,564 25,694 22,829 43,124 94,349 326,399 Depository institutions 3,036,073 84,322 1,674,375 54,732 118,765 389,298 70,870 131,557 25,688 22,726 43,099 94,277 326,364 U.S. Treasury, General Account 837,412 0 837,412 0 0 0 0 0 0 0 0 0 0 Foreign official 9,437 2 9,411 1 4 8 1 2 1 0 0 1 5 Other7 234,163 6 56,272 0 28 613 9 177,004 5 102 25 71 29 Earnings remittances due to the U.S. Treasury8 -244,242 -5,578 -142,803 -4,052 -10,414 -40,545 125 -22,579 21 -518 -1,525 54 -16,427 Treasury contributions to credit facilities9 821 821 0 0 0 0 0 0 0 0 0 0 0 Other liabilities and accrued dividends 7,472 802 2,256 206 318 940 794 542 270 200 210 313 622 Total liabilities 6,610,728 171,924 3,354,161 121,138 238,949 551,291 449,402 425,479 109,407 64,416 95,026 325,989 703,546 Capital Capital paid in 39,648 1,661 12,773 1,309 4,200 8,573 1,519 2,167 963 239 548 1,008 4,688 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 6,657,161 173,868 3,369,119 122,672 243,838 561,352 451,163 428,017 110,539 64,695 95,663 327,190 709,044 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, March 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 Mar 25, 2026 Federal Reserve notes outstanding 2,821,645 Less: Notes held by F.R. Banks not subject to collateralization 426,190 Federal Reserve notes to be collateralized 2,395,455 Collateral held against Federal Reserve notes 2,395,455 Gold certificate account 11,037 Special drawing rights certificate account 15,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,369,218 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,374,099 Less: Face value of securities under reverse repurchase agreements 381,746 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,992,352 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.