FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks February 8, 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

Feb 7, 2024 Jan 31, 2024 Feb 8, 2023

Wednesday

Feb 7, 2024

Reserve Bank credit 7,594,103 - 24,944 - 803,483 7,595,102

Securities held outright1 7,112,153 - 23,785 - 912,086 7,112,112

U.S. Treasury securities 4,692,649 - 23,786 - 704,508 4,692,608

Bills2 210,353 - 83 - 74,668 210,353

Notes and bonds, nominal2 4,010,894 - 23,553 - 624,843 4,010,894

Notes and bonds, inflation-indexed2 360,222 0 - 14,757 360,222

Inflation compensation3 111,180 - 150 + 9,760 111,138

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

Mortgage-backed securities4 2,417,156 0 - 207,579 2,417,156

Unamortized premiums on securities held outright5 275,722 - 532 - 34,407 275,555

Unamortized discounts on securities held outright5 -25,608 - 46 + 1,939 -25,523

Repurchase agreements6 0 - 1 0 0

Foreign official 0 0 0 0

Others 0 - 1 0 0

Loans 170,551 - 2,214 + 155,449 170,501

Primary credit 2,397 - 309 - 1,679 2,334

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Paycheck Protection Program Liquidity Facility 3,303 - 21 - 7,723 3,298

Bank Term Funding Program 164,851 - 1,884 + 164,851 164,869

Other credit extensions7 0 0 0 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 15,086 + 18 - 7,516 15,103

Net portfolio holdings of Municipal Liquidity Facility LLC8 1 0 - 5,580 1

Net portfolio holdings of TALF II LLC8 0 0 - 1,948 0

Float -266 + 154 - 108 -321

Central bank liquidity swaps9 230 + 11 - 208 230

Other Federal Reserve assets10 46,234 + 1,450 + 983 47,444

Foreign currency denominated assets11 18,094 - 71 - 699 18,067

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 52,686 + 14 + 605 52,686

Total factors supplying reserve funds 7,681,124 - 25,001 - 803,576 7,682,096

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

Feb 7, 2024 Jan 31, 2024 Feb 8, 2023

Wednesday

Feb 7, 2024

Currency in circulation12 2,326,682 - 537 + 28,710 2,327,380

Reverse repurchase agreements13 865,279 - 58,717 -1,545,443 890,179

Foreign official and international accounts 339,337 - 6,843 - 19,451 337,124

Others 525,942 - 51,874 -1,525,992 553,055

Treasury cash holdings 414 + 6 + 318 422

Deposits with F.R. Banks, other than reserve balances 975,195 - 40,205 + 273,789 993,399

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 802,135 - 39,415 + 308,858 821,575

Foreign official 9,689 - 1 + 254 9,691

Other14 163,370 - 790 - 35,324 162,134

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

Other liabilities and capital16 -93,207 + 1,360 - 114,780 -92,460

Total factors, other than reserve balances, 

absorbing reserve funds 4,081,801 - 98,094 -1,365,315 4,126,358

Reserve balances with Federal Reserve Banks 3,599,323 + 73,093 + 561,739 3,555,738

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

Feb 7, 2024 Jan 31, 2024 Feb 8, 2023

Wednesday

Feb 7, 2024

Securities held in custody for foreign official and international 

accounts 3,359,821 + 15,439 + 27,769 3,363,394

Marketable U.S. Treasury securities1 2,939,650 + 15,962 + 15,022 2,943,218

Federal agency debt and mortgage-backed securities2 337,889 - 8 + 11,224 337,884

Other securities3 82,282 - 516 + 1,522 82,291

Securities lent to dealers 32,915 + 338 - 5,422 30,947

Overnight facility4 32,915 + 338 - 5,422 30,947

U.S. Treasury securities 32,915 + 338 - 5,403 30,947

Federal agency debt securities 0 0 - 19 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, February 7, 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 1,386 62,721 103,100 3,294 0 ... 170,501

U.S. Treasury securities2

Holdings 82,267 230,601 552,753 1,580,352 741,769 1,504,865 4,692,608

Weekly changes - 951 + 1,143 + 22,032 - 22,285 - 21 - 32 - 113

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 32 5,571 31,570 2,379,983 2,417,156

Weekly changes 0 0 + 13 + 334 + 171 - 518 0

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 7,472 ... ... 7,472

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

Central bank liquidity swaps7 230 0 0 0 0 0 230

Reverse repurchase agreements6 890,179 0 ... ... ... ... 890,179

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 Feb 7, 2024

Mortgage-backed securities held outright1 2,417,156

Residential mortgage-backed securities 2,408,936

Commercial mortgage-backed securities 8,221

Commitments to buy mortgage-backed securities2 149

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 Feb 7, 2024

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) 6,620 6,637 8,465 15,103

Municipal Liquidity Facility LLC 0 0 1 1

TALF II LLC 0 0 0 0

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 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

Feb 7, 2024 Jan 31, 2024 Feb 8, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,517 + 17 + 230

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,532,645 - 1,905 - 789,391

Securities held outright1 7,112,112 - 112 - 911,992

U.S. Treasury securities 4,692,608 - 113 - 704,414

Bills2 210,353 0 - 74,668

Notes and bonds, nominal2 4,010,894 0 - 624,843

Notes and bonds, inflation-indexed2 360,222 0 - 14,757

Inflation compensation3 111,138 - 113 + 9,853

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,417,156 0 - 207,579

Unamortized premiums on securities held outright5 275,555 - 500 - 34,361

Unamortized discounts on securities held outright5 -25,523 - 47 + 1,938

Repurchase agreements6 0 0 - 1

Loans7 170,501 - 1,246 + 155,025

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 15,103 + 20 - 7,519

Net portfolio holdings of Municipal Liquidity Facility LLC8 1 0 - 5,583

Net portfolio holdings of TALF II LLC8 0 0 - 1,950

Items in process of collection (0) 56 + 6 + 3

Bank premises 446 - 14 - 27

Central bank liquidity swaps9 230 + 11 - 208

Foreign currency denominated assets10 18,067 - 180 - 631

Other assets11 46,998 + 3,222 + 1,005

Total assets (0) 7,631,300 + 1,176 - 804,069

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

Feb 7, 2024 Jan 31, 2024 Feb 8, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,276,628 + 441 + 28,319

Reverse repurchase agreements12 890,179 - 87,424 -1,528,752

Deposits (0) 4,549,137 + 86,864 + 817,897

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,555,738 + 144,021 + 522,178

U.S. Treasury, General Account 821,575 - 43,906 + 325,737

Foreign official 9,691 + 3 + 257

Other13 (0) 162,134 - 13,253 - 30,274

Deferred availability cash items (0) 377 - 681 + 114

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

Other liabilities and accrued dividends15 -135,599 + 1,687 - 114,346

Total liabilities (0) 7,588,161 + 888 - 804,676

Capital accounts

Capital paid in 36,354 + 288 + 606

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,139 + 288 + 606

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, February 7, 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 1,517 50 40 140 56 187 112 268 37 57 101 192 277

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,532,645 152,533 4,123,599 124,769 230,457 524,763 512,179 471,012 119,119 60,127 108,002 374,555 731,530

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 15,103 15,103 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 1 0 1 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 0 0 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 230 10 82 8 22 47 7 8 5 1 2 5 33

Foreign currency denominated 

assets4 18,067 777 6,430 649 1,704 3,658 542 629 407 114 192 381 2,585

Other assets5 47,501 1,075 22,798 866 1,456 3,603 4,169 2,857 1,092 702 1,044 2,482 5,357

Interdistrict settlement account 0 + 6,492 + 2,394 - 18,379 + 40,687 + 150,079 - 42,593 - 89,749 - 11,146 - 8,020 - 21,530 - 64,073 + 55,838

Total assets 7,631,300 176,598 4,160,518 108,579 275,132 683,524 476,702 386,130 109,993 53,245 88,263 314,832 797,785

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, February 7, 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 2,276,628 79,880 741,281 49,505 109,303 159,465 353,038 121,420 71,981 32,653 45,991 188,786 323,326

Reverse repurchase agreements6 890,179 17,198 497,121 14,671 27,355 61,947 60,304 55,491 13,316 6,036 11,509 43,402 81,828

Deposits 4,549,137 71,845 2,995,151 44,075 139,280 475,039 61,467 216,964 23,619 14,373 30,617 82,984 393,723

Depository institutions 3,555,738 71,775 2,111,861 44,073 139,248 473,895 61,439 108,440 23,613 14,316 30,525 82,868 393,684

U.S. Treasury, General Account 821,575 0 821,575 0 0 0 0 0 0 0 0 0 0

Foreign official 9,691 2 9,665 1 4 8 1 1 1 0 0 1 6

Other7 162,134 68 52,050 0 29 1,136 27 108,522 5 57 92 114 33

Earnings remittances due to the U.S. 

Treasury8 -147,250 -2,876 -93,219 -1,398 -5,806 -22,775 -323 -10,568 -66 -220 -536 -1,792 -7,671

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 12,028 1,304 5,333 216 423 1,393 739 697 173 132 208 333 1,078

Total liabilities 7,588,161 174,789 4,145,668 107,069 270,555 675,068 475,225 384,004 109,023 52,973 87,789 313,713 792,284

Capital

Capital paid in 36,354 1,525 12,504 1,271 3,855 7,116 1,255 1,792 818 229 400 956 4,632

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 7,631,300 176,598 4,160,518 108,579 275,132 683,524 476,702 386,130 109,993 53,245 88,263 314,832 797,785

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, February 7, 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 Feb 7, 2024

Federal Reserve notes outstanding 2,713,694

Less: Notes held by F.R. Banks not subject to collateralization 437,066

Federal Reserve notes to be collateralized 2,276,628

Collateral held against Federal Reserve notes 2,276,628

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,260,391

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,112,112

Less: Face value of securities under reverse repurchase agreements 989,183

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,122,929

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.