FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks April 25, 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

Apr 24, 2024 Apr 17, 2024 Apr 26, 2023

Wednesday

Apr 24, 2024

Reserve Bank credit 7,367,798 - 20,182 -1,170,777 7,366,592

Securities held outright1 6,928,633 - 22,242 - 924,158 6,926,866

U.S. Treasury securities 4,539,554 - 20,699 - 725,908 4,539,799

Bills2 195,143 0 - 85,823 195,143

Notes and bonds, nominal2 3,881,355 - 13,948 - 634,014 3,881,355

Notes and bonds, inflation-indexed2 350,027 - 6,048 - 15,384 350,027

Inflation compensation3 113,030 - 702 + 9,315 113,274

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

Mortgage-backed securities4 2,386,732 - 1,543 - 198,250 2,384,720

Unamortized premiums on securities held outright5 269,623 - 516 - 33,061 269,384

Unamortized discounts on securities held outright5 -24,920 - 139 + 2,544 -24,833

Repurchase agreements6 18 + 12 - 7,839 5

Foreign official 1 - 4 - 7,856 2

Others 17 + 16 + 17 3

Loans 135,520 + 668 - 192,651 135,693

Primary credit 6,844 + 992 - 64,199 7,018

Secondary credit 77 + 50 + 77 197

Seasonal credit 11 + 5 + 7 10

Paycheck Protection Program Liquidity Facility 2,996 - 24 - 5,863 2,975

Bank Term Funding Program 125,592 - 354 + 49,116 125,492

Other credit extensions7 0 0 - 171,789 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,507 - 108 - 7,650 14,518

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,610 0

Net portfolio holdings of TALF II LLC8 0 0 - 1,927 0

Float -243 + 53 - 73 -278

Central bank liquidity swaps9 137 - 37 - 282 137

Other Federal Reserve assets10 44,523 + 2,127 - 69 45,102

Foreign currency denominated assets11 17,749 - 20 - 1,113 17,758

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 52,840 + 14 + 675 52,840

Total factors supplying reserve funds 7,454,628 - 20,188 -1,171,216 7,453,432

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

Apr 24, 2024 Apr 17, 2024 Apr 26, 2023

Wednesday

Apr 24, 2024

Currency in circulation12 2,344,898 - 1,689 + 22,447 2,344,784

Reverse repurchase agreements13 780,148 + 25,202 -1,869,301 809,259

Foreign official and international accounts 364,203 + 11,608 + 2,016 368,044

Others 415,946 + 13,595 -1,871,315 441,215

Treasury cash holdings 447 + 5 + 283 451

Deposits with F.R. Banks, other than reserve balances 1,112,293 + 159,787 + 606,249 1,133,956

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 941,430 + 144,895 + 649,728 929,379

Foreign official 15,830 + 6,135 + 6,146 27,504

Other14 155,032 + 8,755 - 49,626 177,074

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

Other liabilities and capital16 -114,960 - 5,141 - 111,692 -114,163

Total factors, other than reserve balances, 

absorbing reserve funds 4,130,265 + 178,166 -1,359,923 4,181,725

Reserve balances with Federal Reserve Banks 3,324,363 - 198,354 + 188,708 3,271,706

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

Apr 24, 2024 Apr 17, 2024 Apr 26, 2023

Wednesday

Apr 24, 2024

Securities held in custody for foreign official and international 

accounts 3,354,951 - 14,411 - 15,835 3,348,956

Marketable U.S. Treasury securities1 2,956,497 - 12,502 + 5,870 2,951,583

Federal agency debt and mortgage-backed securities2 317,293 - 1,865 - 21,379 316,324

Other securities3 81,161 - 44 - 326 81,049

Securities lent to dealers 30,417 - 4,458 - 15,675 31,213

Overnight facility4 30,417 - 4,458 - 15,675 31,213

U.S. Treasury securities 30,417 - 4,458 - 15,659 31,213

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, April 24, 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 13,146 11,844 107,738 2,965 0 ... 135,693

U.S. Treasury securities2

Holdings 61,251 241,502 525,436 1,517,921 684,209 1,509,480 4,539,799

Weekly changes - 748 - 3,370 + 4,204 + 287 + 102 + 191 + 666

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 1 34 5,607 28,773 2,350,305 2,384,720

Weekly changes 0 0 0 0 - 1,402 - 2,119 - 3,521

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 6,994 ... ... 6,994

Repurchase agreements6 5 0 ... ... ... ... 5

Central bank liquidity swaps7 137 0 0 0 0 0 137

Reverse repurchase agreements6 809,259 0 ... ... ... ... 809,259

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 Apr 24, 2024

Mortgage-backed securities held outright1 2,384,720

Residential mortgage-backed securities 2,376,537

Commercial mortgage-backed securities 8,183

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 Apr 24, 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 6,287 8,231 14,518

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 loan losses updated as of 

December 31, 2023.

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

Apr 24, 2024 Apr 17, 2024 Apr 26, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,517 - 11 + 216

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,307,114 - 5,176 -1,145,756

Securities held outright1 6,926,866 - 2,854 - 916,986

U.S. Treasury securities 4,539,799 + 666 - 725,929

Bills2 195,143 0 - 85,823

Notes and bonds, nominal2 3,881,355 0 - 634,057

Notes and bonds, inflation-indexed2 350,027 0 - 15,384

Inflation compensation3 113,274 + 665 + 9,335

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,384,720 - 3,521 - 191,056

Unamortized premiums on securities held outright5 269,384 - 584 - 32,868

Unamortized discounts on securities held outright5 -24,833 - 102 + 2,531

Repurchase agreements6 5 - 2 + 5

Loans7 135,693 - 1,633 - 198,437

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,518 + 13 - 7,661

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,613

Net portfolio holdings of TALF II LLC8 0 0 - 1,929

Items in process of collection (0) 52 - 13 0

Bank premises 456 + 6 + 3

Central bank liquidity swaps9 137 - 37 - 281

Foreign currency denominated assets10 17,758 + 34 - 1,194

Other assets11 44,646 + 2,113 + 1,882

Total assets (0) 7,402,434 - 3,072 -1,160,334

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

Apr 24, 2024 Apr 17, 2024 Apr 26, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,293,908 - 1,940 + 20,376

Reverse repurchase agreements12 809,259 + 13,619 -1,829,546

Deposits (0) 4,405,663 - 9,579 + 767,870

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,271,706 - 57,826 + 139,606

U.S. Treasury, General Account 929,379 - 553 + 633,170

Foreign official 27,504 + 17,810 + 17,820

Other13 (0) 177,074 + 30,990 - 22,727

Deferred availability cash items (0) 330 - 9 - 17

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

Other liabilities and accrued dividends15 -157,304 - 5,161 - 112,043

Total liabilities (0) 7,359,294 - 3,072 -1,161,269

Capital accounts

Capital paid in 36,356 0 + 936

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,141 0 + 936

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, April 24, 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 1,517 46 51 164 51 192 101 271 32 56 108 177 268

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,307,114 162,736 3,872,725 110,159 283,255 725,769 490,541 406,056 106,647 51,383 88,450 324,724 684,668

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 14,518 14,518 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 137 6 47 5 15 27 4 7 3 1 1 3 18

Foreign currency denominated 

assets4 17,758 741 6,141 625 1,889 3,503 582 872 400 111 193 427 2,273

Other assets5 45,153 1,170 21,175 797 1,736 4,690 4,005 2,515 821 571 933 2,134 4,605

Interdistrict settlement account 0 + 5,159 + 108,443 + 689 - 12,870 - 49,554 - 30,145 - 37,885 - 4,165 - 3,382 - 13,027 - 19,583 + 56,320

Total assets 7,402,434 184,939 4,013,713 112,956 274,837 685,830 467,357 372,944 104,221 49,012 77,119 309,194 750,313

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, April 24, 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 2,293,908 84,758 745,443 51,205 110,232 161,338 355,294 120,780 71,927 30,808 38,733 196,301 327,088

Reverse repurchase agreements6 809,259 16,832 435,495 12,057 31,557 80,666 54,143 44,661 11,324 5,056 8,898 35,340 73,231

Deposits 4,405,663 75,969 2,918,342 49,644 135,144 460,835 55,676 216,529 19,829 12,974 29,429 77,762 353,532

Depository institutions 3,271,706 75,915 1,883,870 49,643 135,113 460,403 55,648 117,830 19,825 12,916 29,397 77,650 353,496

U.S. Treasury, General Account 929,379 0 929,379 0 0 0 0 0 0 0 0 0 0

Foreign official 27,504 2 27,477 1 4 8 1 2 1 0 0 1 5

Other7 177,074 52 77,615 0 27 423 27 98,697 3 57 32 111 30

Earnings remittances due to the U.S. 

Treasury8 -165,390 -3,266 -103,460 -1,650 -6,993 -26,446 110 -11,608 13 -212 -576 -1,592 -9,712

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 8,416 1,399 3,039 189 319 983 665 456 148 115 178 249 675

Total liabilities 7,359,294 183,131 3,998,859 111,446 270,259 677,376 465,888 370,819 103,242 48,740 76,661 308,060 744,813

Capital

Capital paid in 36,356 1,525 12,508 1,271 3,856 7,116 1,247 1,792 826 229 384 970 4,631

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 7,402,434 184,939 4,013,713 112,956 274,837 685,830 467,357 372,944 104,221 49,012 77,119 309,194 750,313

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, April 24, 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 Apr 24, 2024

Federal Reserve notes outstanding 2,736,248

Less: Notes held by F.R. Banks not subject to collateralization 442,340

Federal Reserve notes to be collateralized 2,293,908

Collateral held against Federal Reserve notes 2,293,908

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,277,671

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,926,871

Less: Face value of securities under reverse repurchase agreements 951,421

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,975,450

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.