FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks April 4, 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 3, 2024 Mar 27, 2024 Apr 5, 2023

Wednesday

Apr 3, 2024

Reserve Bank credit 7,426,585 - 36,088 -1,172,582 7,402,915

Securities held outright1 6,988,255 - 27,786 - 895,524 6,965,944

U.S. Treasury securities 4,597,473 - 21,181 - 689,479 4,575,162

Bills2 195,143 - 4,857 - 85,823 195,143

Notes and bonds, nominal2 3,928,319 - 16,917 - 596,454 3,905,763

Notes and bonds, inflation-indexed2 360,612 0 - 16,412 360,612

Inflation compensation3 113,399 + 593 + 9,210 113,644

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

Mortgage-backed securities4 2,388,435 - 6,604 - 206,045 2,388,435

Unamortized premiums on securities held outright5 271,034 - 620 - 33,639 270,865

Unamortized discounts on securities held outright5 -24,864 + 220 + 2,619 -24,784

Repurchase agreements6 2 + 2 - 44,284 2

Foreign official 0 0 - 44,286 0

Others 2 + 2 + 2 2

Loans 140,087 - 7,508 - 186,263 138,960

Primary credit 6,105 + 19 - 64,933 5,451

Secondary credit 45 + 14 + 45 0

Seasonal credit 1 0 + 1 2

Paycheck Protection Program Liquidity Facility 3,048 - 16 - 6,218 3,045

Bank Term Funding Program 130,888 - 7,525 + 62,732 130,462

Other credit extensions7 0 0 - 177,889 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,678 + 21 - 7,634 14,688

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,603 0

Net portfolio holdings of TALF II LLC8 0 0 - 1,926 0

Float -574 - 295 - 192 -777

Central bank liquidity swaps9 187 + 8 - 368 187

Other Federal Reserve assets10 37,780 - 131 + 231 37,831

Foreign currency denominated assets11 18,022 - 10 - 876 18,031

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 52,798 + 14 + 659 52,798

Total factors supplying reserve funds 7,513,646 - 36,084 -1,172,799 7,489,985

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 3, 2024 Mar 27, 2024 Apr 5, 2023

Wednesday

Apr 3, 2024

Currency in circulation12 2,344,841 + 2,582 + 21,078 2,347,145

Reverse repurchase agreements13 904,400 + 72,196 -1,754,151 801,636

Foreign official and international accounts 375,161 + 26,447 + 13,815 365,005

Others 529,239 + 45,749 -1,767,967 436,631

Treasury cash holdings 444 - 5 + 277 441

Deposits with F.R. Banks, other than reserve balances 949,049 - 31,030 + 558,434 898,547

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 768,651 - 33,582 + 599,858 732,828

Foreign official 12,920 - 705 + 3,275 10,699

Other14 167,478 + 3,257 - 44,698 155,021

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

Other liabilities and capital16 -106,815 + 2,006 - 112,758 -106,389

Total factors, other than reserve balances, 

absorbing reserve funds 4,099,358 + 45,749 -1,295,029 3,948,818

Reserve balances with Federal Reserve Banks 3,414,288 - 81,833 + 122,230 3,541,167

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 3, 2024 Mar 27, 2024 Apr 5, 2023

Wednesday

Apr 3, 2024

Securities held in custody for foreign official and international 

accounts 3,345,413 + 4,658 + 26,196 3,349,063

Marketable U.S. Treasury securities1 2,941,698 + 4,955 + 43,632 2,945,559

Federal agency debt and mortgage-backed securities2 322,599 - 445 - 17,498 322,331

Other securities3 81,116 + 148 + 62 81,174

Securities lent to dealers 44,612 + 8,336 - 5,420 41,226

Overnight facility4 44,612 + 8,336 - 5,420 41,226

U.S. Treasury securities 44,612 + 8,336 - 5,411 41,226

Federal agency debt securities 0 0 - 9 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 3, 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 8,354 16,959 110,605 3,041 0 ... 138,960

U.S. Treasury securities2

Holdings 70,985 239,513 534,567 1,520,273 701,279 1,508,544 4,575,162

Weekly changes + 7,373 - 26,381 + 816 - 16,267 - 8,637 + 175 - 42,920

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 30,175 2,352,618 2,388,435

Weekly changes 0 + 1 + 6 + 85 + 19 - 111 0

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 7,059 ... ... 7,059

Repurchase agreements6 2 0 ... ... ... ... 2

Central bank liquidity swaps7 187 0 0 0 0 0 187

Reverse repurchase agreements6 801,636 0 ... ... ... ... 801,636

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 3, 2024

Mortgage-backed securities held outright1 2,388,435

Residential mortgage-backed securities 2,380,240

Commercial mortgage-backed securities 8,195

Commitments to buy mortgage-backed securities2 20

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 Apr 3, 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) 6,070 6,351 8,337 14,688

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 3, 2024 Mar 27, 2024 Apr 5, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,551 - 1 + 253

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,350,986 - 46,359 -1,175,611

Securities held outright1 6,965,944 - 42,920 - 911,170

U.S. Treasury securities 4,575,162 - 42,920 - 705,125

Bills2 195,143 - 4,072 - 85,823

Notes and bonds, nominal2 3,905,763 - 39,473 - 612,033

Notes and bonds, inflation-indexed2 360,612 0 - 16,412

Inflation compensation3 113,644 + 625 + 9,144

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,388,435 0 - 206,045

Unamortized premiums on securities held outright5 270,865 - 471 - 33,530

Unamortized discounts on securities held outright5 -24,784 + 207 + 2,578

Repurchase agreements6 2 + 2 - 39,998

Loans7 138,960 - 3,176 - 193,489

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,688 + 17 - 7,638

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,604

Net portfolio holdings of TALF II LLC8 0 0 - 1,923

Items in process of collection (0) 48 - 15 - 6

Bank premises 445 - 16 - 8

Central bank liquidity swaps9 187 + 8 - 291

Foreign currency denominated assets10 18,031 + 1 - 904

Other assets11 37,385 + 1,184 - 1,094

Total assets (0) 7,439,558 - 45,181 -1,192,826

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 3, 2024 Mar 27, 2024 Apr 5, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,296,334 + 3,102 + 22,174

Reverse repurchase agreements12 801,636 - 71,110 -1,797,767

Deposits (0) 4,439,715 + 20,667 + 703,393

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,541,167 + 68,764 + 159,816

U.S. Treasury, General Account 732,828 - 39,432 + 592,140

Foreign official 10,699 - 3,848 + 1,018

Other13 (0) 155,021 - 4,818 - 49,582

Deferred availability cash items (0) 825 + 395 + 254

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

Other liabilities and accrued dividends15 -149,530 + 1,768 - 113,908

Total liabilities (0) 7,396,418 - 45,178 -1,193,764

Capital accounts

Capital paid in 36,356 - 1 + 939

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,141 - 1 + 939

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 3, 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 16,237 557 5,175 525 752 1,187 2,287 1,104 479 264 452 1,290 2,165

Coin 1,551 47 54 162 52 200 108 273 35 56 110 185 270

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,350,986 153,106 4,037,656 122,020 225,388 512,951 499,685 460,136 114,343 55,698 103,228 363,412 703,364

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 14,688 14,688 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 187 8 65 7 20 37 6 9 4 1 2 4 24

Foreign currency denominated 

assets4 18,031 752 6,236 635 1,918 3,557 591 885 406 113 196 434 2,308

Other assets5 37,878 943 17,957 732 1,204 3,025 3,539 2,327 740 546 907 1,963 3,995

Interdistrict settlement account 0 + 15,170 - 184,404 - 4,300 + 86,701 + 147,215 - 22,211 - 74,777 - 4,616 - 4,322 - 18,763 - 32,172 + 96,480

Total assets 7,439,558 185,272 3,882,739 119,780 316,034 668,173 484,004 389,957 111,391 52,356 86,133 335,115 808,606

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 3, 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 2,296,334 82,083 748,282 50,653 111,024 163,141 355,265 121,240 72,338 31,221 40,628 192,087 328,371

Reverse repurchase agreements6 801,636 15,487 447,674 13,212 24,635 55,785 54,306 49,971 11,992 5,435 10,364 39,085 73,689

Deposits 4,439,715 80,188 2,768,111 55,749 181,963 465,066 71,678 227,262 25,909 15,505 35,021 104,118 409,144

Depository institutions 3,541,167 80,135 1,973,627 55,748 181,926 464,514 71,649 124,096 25,894 15,467 34,990 104,019 409,102

U.S. Treasury, General Account 732,828 0 732,828 0 0 0 0 0 0 0 0 0 0

Foreign official 10,699 2 10,673 1 4 8 1 2 1 0 0 1 5

Other7 155,021 51 50,983 0 32 543 28 103,165 14 37 31 99 37

Earnings remittances due to the U.S. 

Treasury8 -161,332 -3,198 -101,306 -1,587 -6,691 -25,592 78 -11,358 -10 -217 -561 -1,661 -9,228

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 12,627 1,464 5,125 243 526 1,317 1,207 716 183 140 223 352 1,131

Total liabilities 7,396,418 183,463 3,867,885 118,270 311,457 659,718 482,535 387,831 110,412 52,084 85,675 333,981 803,106

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 7,439,558 185,272 3,882,739 119,780 316,034 668,173 484,004 389,957 111,391 52,356 86,133 335,115 808,606

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 3, 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 3, 2024

Federal Reserve notes outstanding 2,728,138

Less: Notes held by F.R. Banks not subject to collateralization 431,804

Federal Reserve notes to be collateralized 2,296,334

Collateral held against Federal Reserve notes 2,296,334

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,280,097

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,965,946

Less: Face value of securities under reverse repurchase agreements 884,145

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,081,801

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.