FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks September 15, 2022

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

Sep 14, 2022 Sep 7, 2022 Sep 15, 2021

Wednesday

Sep 14, 2022

Reserve Bank credit 8,788,731 + 488 + 436,695 8,797,781

Securities held outright1 8,400,771 - 2,568 + 553,012 8,407,904

U.S. Treasury securities 5,687,814 - 3,889 + 303,203 5,687,031

Bills2 318,882 - 3,877 - 7,162 318,105

Notes and bonds, nominal2 4,893,074 0 + 256,914 4,893,074

Notes and bonds, inflation-indexed2 375,761 0 + 16,209 375,761

Inflation compensation3 100,096 - 13 + 37,240 100,091

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

Mortgage-backed securities4 2,710,611 + 1,322 + 249,810 2,718,526

Unamortized premiums on securities held outright5 326,233 - 558 - 28,289 326,059

Unamortized discounts on securities held outright5 -26,810 - 48 - 11,233 -26,773

Repurchase agreements6 9 + 8 + 9 0

Foreign official 0 0 0 0

Others 9 + 8 + 9 0

Loans 19,776 + 626 - 51,824 20,606

Primary credit 5,201 + 908 + 4,927 6,158

Secondary credit 0 0 0 0

Seasonal credit 46 + 4 + 21 49

Primary Dealer Credit Facility 0 0 0 0

Paycheck Protection Program Liquidity Facility 14,529 - 287 - 56,772 14,399

Other credit extensions 0 0 0 0

Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 15,056 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 25,952 + 16 - 4,589 25,969

Net portfolio holdings of Municipal Liquidity Facility LLC7 5,558 + 2 - 4,213 5,559

Net portfolio holdings of TALF II LLC7 2,145 + 1 - 2,367 2,146

Float -153 + 9 - 31 -163

Central bank liquidity swaps8 203 + 6 - 126 203

Other Federal Reserve assets9 35,046 + 2,993 + 1,401 36,270

Foreign currency denominated assets10 17,320 - 62 - 3,941 17,282

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 51,300 + 14 + 641 51,300

Total factors supplying reserve funds 8,873,592 + 441 + 433,394 8,882,604

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

Sep 14, 2022 Sep 7, 2022 Sep 15, 2021

Wednesday

Sep 14, 2022

Currency in circulation11 2,281,911 - 1,208 + 84,605 2,280,792

Reverse repurchase agreements12 2,485,489 + 43,154 +1,084,629 2,526,689

Foreign official and international accounts 273,138 + 11,173 - 21,528 301,110

Others 2,212,350 + 31,980 +1,106,156 2,225,579

Treasury cash holdings 98 0 + 51 99

Deposits with F.R. Banks, other than reserve balances 806,696 + 11,422 + 327,469 851,107

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 593,808 + 12,513 + 363,480 617,997

Foreign official 7,435 - 1,147 + 814 7,435

Other13 205,452 + 55 - 36,826 225,675

Treasury contributions to credit facilities14 17,940 0 - 22,338 17,940

Other liabilities and capital15 46,531 - 2,356 - 4,764 47,284

Total factors, other than reserve balances, 

absorbing reserve funds 5,638,664 + 51,011 +1,469,651 5,723,910

Reserve balances with Federal Reserve Banks 3,234,928 - 50,570 -1,036,256 3,158,694

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 assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

8. 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.

9. Includes bank premises, accrued interest, and other accounts receivable.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of 

$1.2 billion.

15. 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

Sep 14, 2022 Sep 7, 2022 Sep 15, 2021

Wednesday

Sep 14, 2022

Securities held in custody for foreign official and international 

accounts 3,376,510 - 11,192 - 94,195 3,384,047

Marketable U.S. Treasury securities1 2,978,017 - 12,411 - 68,733 2,977,631

Federal agency debt and mortgage-backed securities2 314,254 + 1,370 - 17,783 322,433

Other securities3 84,240 - 150 - 7,678 83,983

Securities lent to dealers 48,273 + 3,161 + 17,498 48,185

Overnight facility4 48,273 + 3,161 + 17,498 48,185

U.S. Treasury securities 48,270 + 3,158 + 17,495 48,175

Federal agency debt securities 3 + 3 + 3 10

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, September 14, 2022

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 3,134 3,082 0 14,389 0 ... 20,606

U.S. Treasury securities2

Holdings 52,038 358,104 810,627 2,010,470 1,000,928 1,454,864 5,687,031

Weekly changes + 3,069 - 8,124 + 1,338 - 5 - 4 - 4 - 3,729

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 2 54 3,364 55,805 2,659,300 2,718,526

Weekly changes 0 0 0 0 0 + 9,234 + 9,235

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 13,181 ... ... 13,181

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907

Loans held by TALF II LLC7 0 0 358 718 ... ... 1,076

Repurchase agreements8 0 0 ... ... ... ... 0

Central bank liquidity swaps9 203 0 0 0 0 0 203

Reverse repurchase agreements8 2,526,689 0 ... ... ... ... 2,526,689

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) 

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 New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston 

(FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, 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. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 

7. Book value of the loans held by the TALF II LLC. 

8. Cash value of agreements.

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.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Sep 14, 2022

Mortgage-backed securities held outright1 2,718,526

Residential mortgage-backed securities 2,709,847

Commercial mortgage-backed securities 8,679

Commitments to buy mortgage-backed securities2 7,709

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 LLCs

Millions of dollars

Wednesday Sep 14, 2022

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

MS Facilities LLC (Main Street Lending Program) 12,938 11,393 14,576 25,969

Municipal Liquidity Facility LLC 2,907 2,907 2,652 5,559

TALF II LLC 1,110 1,076 1,070 2,146

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:

a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 updated as of June 30, 2022.

b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 a one-day lag after the transaction date.

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

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. Amounts excluded are approximately 15% of Treasury contributions to the Municipal 

Liquidity Facility LLC and TALF II LLC. 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

Sep 14, 2022 Sep 7, 2022 Sep 15, 2021

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,244 - 13 + 35

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,727,796 + 7,065 + 409,080

Securities held outright1 8,407,904 + 5,505 + 499,529

U.S. Treasury securities 5,687,031 - 3,729 + 295,159

Bills2 318,105 - 3,715 - 7,939

Notes and bonds, nominal2 4,893,074 0 + 249,827

Notes and bonds, inflation-indexed2 375,761 0 + 16,209

Inflation compensation3 100,091 - 14 + 37,061

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,718,526 + 9,235 + 204,370

Unamortized premiums on securities held outright5 326,059 - 525 - 29,672

Unamortized discounts on securities held outright5 -26,773 - 50 - 11,208

Repurchase agreements6 0 - 5 0

Loans7 20,606 + 2,139 - 49,568

Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 12,308

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 25,969 + 19 - 4,468

Net portfolio holdings of Municipal Liquidity Facility LLC8 5,559 + 1 - 4,213

Net portfolio holdings of TALF II LLC8 2,146 + 1 - 2,366

Items in process of collection (0) 49 - 27 - 8

Bank premises 606 + 6 - 984

Central bank liquidity swaps9 203 + 6 - 126

Foreign currency denominated assets10 17,282 + 120 - 4,000

Other assets11 35,667 + 3,177 + 3,346

Total assets (0) 8,832,759 + 10,358 + 383,989

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

Sep 14, 2022 Sep 7, 2022 Sep 15, 2021

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,230,831 - 3,513 + 83,288

Reverse repurchase agreements12 2,526,689 + 66,791 +1,151,013

Deposits (0) 4,009,804 - 51,891 - 826,943

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,158,697 - 112,639 -1,085,980

U.S. Treasury, General Account 617,997 + 35,076 + 273,329

Foreign official 7,435 0 + 2,170

Other13 (0) 225,675 + 25,673 - 16,461

Deferred availability cash items (0) 212 - 51 + 33

Treasury contributions to credit facilities14 17,940 0 - 22,338

Other liabilities and accrued dividends15 5,451 - 977 - 3,033

Total liabilities (0) 8,790,925 + 10,359 + 382,018

Capital accounts

Capital paid in 35,049 0 + 1,971

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 41,834 0 + 1,971

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 Primary Dealer Credit Facility, Paycheck Protection 

Program Liquidity Facility, 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of 

$1.2 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, September 14, 2022

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 16,237 544 5,271 537 763 1,203 2,247 1,093 461 263 440 1,279 2,136

Coin 1,244 19 23 110 52 189 93 226 28 36 90 158 220

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,727,796 174,403 4,467,162 200,458 350,593 606,842 569,849 595,514 136,846 67,039 136,197 446,591 976,301

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 25,969 25,969 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 5,559 0 5,559 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 2,146 0 2,146 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 203 9 71 8 20 41 7 8 4 1 2 5 29

Foreign currency denominated 

assets4 17,282 744 6,020 641 1,689 3,465 562 655 348 87 178 415 2,477

Other assets5 36,322 823 17,497 920 1,500 2,832 2,413 2,439 679 464 846 1,934 3,973

Interdistrict settlement account 0 - 17,928 + 332,162 - 38,715 - 58,526 - 9,159 + 2,237 - 57,539 - 7,427 - 955 - 17,838 - 26,795 - 99,516

Total assets 8,832,759 184,582 4,835,913 163,959 296,091 605,414 577,408 542,396 130,939 66,935 119,916 423,586 885,620

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, September 14, 2022 (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 2,230,831 78,403 708,346 55,311 103,748 152,940 345,800 122,693 70,715 33,719 54,516 193,013 311,629

Reverse repurchase agreements6 2,526,689 50,584 1,295,437 58,047 100,898 176,076 165,312 172,724 39,682 17,916 39,442 129,542 281,028

Deposits 4,009,804 40,564 2,811,029 48,879 87,181 267,202 64,311 244,998 19,437 14,886 25,314 99,638 286,365

Depository institutions 3,158,697 40,555 2,118,460 48,878 87,148 266,571 64,263 87,450 19,428 14,812 25,284 99,507 286,340

U.S. Treasury, General Account 617,997 0 617,997 0 0 0 0 0 0 0 0 0 0

Foreign official 7,435 2 7,409 1 4 8 1 2 1 0 0 1 6

Other7 225,675 7 67,163 0 30 623 47 157,546 8 74 30 129 19

Earnings remittances due to the U.S. 

Treasury8 -45 -4 -213 8 29 -62 83 -6 10 0 5 40 65

Treasury contributions to credit facilities9 17,940 13,891 4,049 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 5,708 -658 2,652 216 258 812 576 477 178 159 207 283 548

Total liabilities 8,790,925 182,780 4,821,300 162,461 292,114 596,967 576,083 540,885 130,022 66,679 119,484 422,517 879,635

Capital

Capital paid in 35,049 1,511 12,250 1,247 3,313 7,086 1,105 1,253 780 221 362 907 5,013

Surplus 6,785 292 2,363 252 663 1,361 221 257 137 34 70 163 973

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

Total liabilities and capital 8,832,759 184,582 4,835,913 163,959 296,091 605,414 577,408 542,396 130,939 66,935 119,916 423,586 885,620

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, September 14, 2022 (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 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. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit 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.

9. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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 May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated 

loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market 

Corporate Credit Facility. The assets of the CCF 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 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 CCF LLC, 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 Sep 14, 2022

Federal Reserve notes outstanding 2,572,657

Less: Notes held by F.R. Banks not subject to collateralization 341,826

Federal Reserve notes to be collateralized 2,230,831

Collateral held against Federal Reserve notes 2,230,831

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,214,594

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,407,904

Less: Face value of securities under reverse repurchase agreements 2,699,394

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,708,510

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.