FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks May 9, 2024

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at 

Federal Reserve Banks

Week ended

May 8, 2024 May 1, 2024 May 10, 2023

Wednesday

May 8, 2024

Reserve Bank credit 7,318,178 - 25,203 -1,142,436 7,317,533

Securities held outright1 6,892,769 - 15,437 - 908,306 6,893,087

U.S. Treasury securities 4,518,374 - 15,436 - 704,574 4,518,691

Bills2 195,154 + 11 - 85,823 195,218

Notes and bonds, nominal2 3,858,685 - 16,229 - 613,185 3,858,685

Notes and bonds, inflation-indexed2 350,158 + 100 - 15,275 350,161

Inflation compensation3 114,377 + 681 + 9,709 114,627

Federal agency debt securities2 2,347 0 0 2,347

Mortgage-backed securities4 2,372,049 0 - 203,731 2,372,049

Unamortized premiums on securities held outright5 268,377 - 447 - 32,985 268,235

Unamortized discounts on securities held outright5 -24,933 - 84 + 2,508 -24,855

Repurchase agreements6 1 - 1 - 8 1

Foreign official 0 - 1 0 1

Others 0 - 1 - 9 0

Loans 123,878 - 10,864 - 185,157 121,830

Primary credit 6,200 - 813 + 1,579 6,198

Secondary credit 0 - 87 0 0

Seasonal credit 19 + 9 + 14 20

Paycheck Protection Program Liquidity Facility 2,954 - 11 - 5,496 2,949

Bank Term Funding Program 114,705 - 9,962 + 33,185 112,663

Other credit extensions7 0 0 - 214,439 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,116 - 8 - 8,124 14,130

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,616 0

Net portfolio holdings of TALF II LLC8 0 0 - 1,899 0

Float -294 + 160 - 133 -237

Central bank liquidity swaps9 125 + 1 - 297 125

Other Federal Reserve assets10 44,139 + 1,476 - 2,420 45,216

Foreign currency denominated assets11 17,921 + 225 - 937 17,835

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 5,200 0 0 5,200

Treasury currency outstanding12 52,868 + 14 + 683 52,868

Total factors supplying reserve funds 7,405,208 - 24,964 -1,142,690 7,404,477

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

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and 

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

May 8, 2024 May 1, 2024 May 10, 2023

Wednesday

May 8, 2024

Currency in circulation12 2,347,987 + 2,950 + 17,325 2,348,973

Reverse repurchase agreements13 818,976 - 21,596 -1,781,790 854,964

Foreign official and international accounts 359,419 - 7,356 - 21,596 361,537

Others 459,557 - 14,240 -1,760,194 493,427

Treasury cash holdings 443 - 7 + 239 442

Deposits with F.R. Banks, other than reserve balances 1,016,790 - 80,257 + 605,145 978,824

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 851,591 - 65,586 + 653,925 816,809

Foreign official 10,245 - 13,520 + 567 9,696

Other14 154,954 - 1,151 - 49,346 152,319

Treasury contributions to credit facilities15 7,438 0 - 7,909 7,438

Other liabilities and capital16 -117,581 - 4,475 - 110,425 -116,852

Total factors, other than reserve balances, 

absorbing reserve funds 4,074,052 - 103,387 -1,277,416 4,073,790

Reserve balances with Federal Reserve Banks 3,331,156 + 78,423 + 134,727 3,330,687

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 LLC of $7.4 billion.

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

Memorandum item Week ended Change from week ended

May 8, 2024 May 1, 2024 May 10, 2023

Wednesday

May 8, 2024

Securities held in custody for foreign official and international 

accounts 3,355,967 + 1,206 - 25,580 3,346,360

Marketable U.S. Treasury securities1 2,959,877 + 1,389 - 752 2,950,539

Federal agency debt and mortgage-backed securities2 315,194 - 215 - 24,045 314,896

Other securities3 80,896 + 31 - 783 80,925

Securities lent to dealers 32,133 - 275 - 9,282 34,106

Overnight facility4 32,133 - 275 - 9,282 34,106

U.S. Treasury securities 32,133 - 275 - 9,266 34,106

Federal agency debt securities 0 0 - 16 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, May 8, 2024

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 4,773 7,369 106,765 2,924 0 ... 121,830

U.S. Treasury securities2

Holdings 89,940 212,031 522,131 1,506,100 678,562 1,509,928 4,518,691

Weekly changes - 4,389 + 27,673 - 23,121 + 325 + 103 + 195 + 785

Federal agency debt securities3

Holdings 0 0 0 0 2,347 0 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 38 5,699 28,158 2,338,153 2,372,049

Weekly changes 0 0 0 + 209 + 46 - 256 0

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 6,656 ... ... 6,656

Repurchase agreements6 1 0 ... ... ... ... 1

Central bank liquidity swaps7 125 0 0 0 0 0 125

Reverse repurchase agreements6 854,964 0 ... ... ... ... 854,964

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 and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF), 

Bank Term Funding Program, 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 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 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 May 8, 2024

Mortgage-backed securities held outright1 2,372,049

Residential mortgage-backed securities 2,363,883

Commercial mortgage-backed securities 8,166

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 May 8, 2024

Net portfolio holdings of

Credit Facilities LLC

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLC:

the LLC1 purchases2 other assets3 Total

MS Facilities LLC (Main Street Lending Program) 5,857 5,570 8,561 14,130

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 March 

31, 2024.

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

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

May 8, 2024 May 1, 2024 May 10, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,508 - 7 + 213

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,258,298 - 11,772 -1,130,163

Securities held outright1 6,893,087 + 785 - 908,186

U.S. Treasury securities 4,518,691 + 785 - 704,455

Bills2 195,218 + 75 - 85,823

Notes and bonds, nominal2 3,858,685 0 - 613,185

Notes and bonds, inflation-indexed2 350,161 + 25 - 15,275

Inflation compensation3 114,627 + 685 + 9,828

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,372,049 0 - 203,731

Unamortized premiums on securities held outright5 268,235 - 421 - 32,923

Unamortized discounts on securities held outright5 -24,855 - 84 + 2,500

Repurchase agreements6 1 + 1 - 24

Loans7 121,830 - 12,053 - 191,530

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,130 + 16 - 8,130

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,618

Net portfolio holdings of TALF II LLC8 0 0 - 1,900

Items in process of collection (0) 58 - 5 - 30

Bank premises 439 + 1 - 8

Central bank liquidity swaps9 125 + 1 - 297

Foreign currency denominated assets10 17,835 + 161 - 991

Other assets11 44,778 + 2,538 - 2,685

Total assets (0) 7,353,408 - 9,066 -1,149,609

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

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

May 8, 2024 May 1, 2024 May 10, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,298,052 + 2,135 + 15,366

Reverse repurchase agreements12 854,964 + 56,899 -1,763,214

Deposits (0) 4,309,512 - 63,267 + 716,043

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,330,687 + 13,652 + 105,376

U.S. Treasury, General Account 816,809 - 73,633 + 662,001

Foreign official 9,696 + 2 + 12

Other13 (0) 152,319 - 3,290 - 51,347

Deferred availability cash items (0) 295 - 383 + 48

Treasury contributions to credit facilities14 7,438 0 - 7,909

Other liabilities and accrued dividends15 -160,042 - 4,498 - 110,729

Total liabilities (0) 7,310,218 - 9,116 -1,150,396

Capital accounts

Capital paid in 36,405 + 50 + 787

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,190 + 50 + 787

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 LLC of $7.4 billion.

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, May 8, 2024

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificates and special drawing 

rights certificates 16,237 563 5,129 517 761 1,203 2,268 1,108 484 272 460 1,311 2,161

Coin 1,508 44 51 164 52 190 105 268 30 54 107 175 269

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,258,298 161,505 3,853,339 108,763 281,789 721,801 487,780 403,260 106,018 50,748 87,501 322,206 673,587

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 14,130 14,130 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 125 5 43 4 13 25 4 6 3 1 1 3 16

Foreign currency denominated 

assets4 17,835 744 6,168 628 1,897 3,518 584 875 402 112 194 429 2,283

Other assets5 45,275 1,177 21,365 780 1,735 4,708 4,024 2,520 998 572 902 2,133 4,361

Interdistrict settlement account 0 - 2,036 + 26,386 + 9,324 - 2,180 - 13,983 - 19,996 - 35,107 - 1,787 - 3,155 - 11,534 - 10,381 + 64,449

Total assets 7,353,408 176,132 3,912,481 120,180 284,068 717,462 474,769 372,931 106,148 48,604 77,631 315,876 747,127

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, May 8, 2024 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes, net 2,298,052 86,555 741,838 52,885 110,794 162,046 356,366 119,611 72,017 30,248 38,402 197,885 329,404

Reverse repurchase agreements6 854,964 17,783 460,091 12,738 33,339 85,222 57,201 47,184 11,964 5,341 9,401 37,336 77,367

Deposits 4,309,512 64,838 2,797,466 54,546 142,133 487,612 59,048 215,327 21,016 12,828 29,760 80,790 344,146

Depository institutions 3,330,687 64,785 1,921,667 54,545 142,099 487,066 59,020 113,366 21,011 12,768 29,728 80,530 344,102

U.S. Treasury, General Account 816,809 0 816,809 0 0 0 0 0 0 0 0 0 0

Foreign official 9,696 2 9,670 1 4 8 1 2 1 0 0 1 5

Other7 152,319 52 49,320 0 29 539 27 101,959 4 60 31 259 39

Earnings remittances due to the U.S. 

Treasury8 -167,840 -3,352 -104,854 -1,697 -7,093 -26,831 84 -11,798 7 -209 -579 -1,544 -9,973

Treasury contributions to credit facilities9 7,438 7,438 0 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 8,093 1,052 3,070 198 324 958 612 472 163 123 187 250 684

Total liabilities 7,310,218 174,314 3,897,612 118,671 279,496 709,007 473,311 370,796 105,166 48,331 77,170 314,716 741,628

Capital

Capital paid in 36,405 1,535 12,523 1,271 3,849 7,117 1,236 1,802 829 230 387 996 4,630

Surplus 6,785 283 2,346 239 722 1,339 222 333 153 42 74 163 869

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 7,353,408 176,132 3,912,481 120,180 284,068 717,462 474,769 372,931 106,148 48,604 77,631 315,876 747,127

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, May 8, 2024 (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 and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, 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 LLC of $7.4 billion.

 

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal 

Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. 

The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending 

loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. 

Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), 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 MS Facilities 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 FRBNY is the managing member of MLF LLC and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally accepted 

accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the statements of 

condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated to 

FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and table 

5), and the liabilities of the LLC to entities other than the FRBNY or 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). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears 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 May 8, 2024

Federal Reserve notes outstanding 2,742,724

Less: Notes held by F.R. Banks not subject to collateralization 444,673

Federal Reserve notes to be collateralized 2,298,052

Collateral held against Federal Reserve notes 2,298,052

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,281,815

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,893,088

Less: Face value of securities under reverse repurchase agreements 985,282

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,907,806

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.