FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks February 22, 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 21, 2024 Feb 14, 2024 Feb 22, 2023

Wednesday

Feb 21, 2024

Reserve Bank credit 7,547,527 - 49,447 - 801,219 7,545,469

Securities held outright1 7,080,125 - 31,935 - 909,196 7,077,988

U.S. Treasury securities 4,661,455 - 31,081 - 702,941 4,661,421

Bills2 210,353 0 - 74,668 210,353

Notes and bonds, nominal2 3,979,933 - 30,961 - 623,797 3,979,933

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

Inflation compensation3 110,947 - 120 + 10,281 110,912

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

Mortgage-backed securities4 2,416,323 - 854 - 206,255 2,414,220

Unamortized premiums on securities held outright5 274,616 - 603 - 34,115 274,368

Unamortized discounts on securities held outright5 -25,653 - 60 + 2,063 -25,568

Repurchase agreements6 0 - 1 0 1

Foreign official 0 0 0 0

Others 0 - 1 0 1

Loans 169,822 - 856 + 154,227 169,867

Primary credit 2,379 - 219 - 2,360 2,405

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Paycheck Protection Program Liquidity Facility 3,238 - 34 - 7,618 3,230

Bank Term Funding Program 164,205 - 603 + 164,205 164,231

Other credit extensions7 0 0 0 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,798 - 309 - 7,585 14,809

Net portfolio holdings of Municipal Liquidity Facility LLC8 1 0 - 5,586 1

Net portfolio holdings of TALF II LLC8 0 0 - 1,951 0

Float -253 - 30 - 99 -337

Central bank liquidity swaps9 215 - 12 - 178 215

Other Federal Reserve assets10 33,856 - 15,641 + 1,201 34,125

Foreign currency denominated assets11 17,998 + 3 - 471 18,041

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 52,714 + 14 + 619 52,714

Total factors supplying reserve funds 7,634,480 - 49,430 - 801,071 7,632,466

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 21, 2024 Feb 14, 2024 Feb 22, 2023

Wednesday

Feb 21, 2024

Currency in circulation12 2,329,633 + 2,854 + 28,475 2,330,768

Reverse repurchase agreements13 875,108 - 23,902 -1,538,537 914,625

Foreign official and international accounts 342,633 + 8,454 - 9,438 339,743

Others 532,475 - 32,356 -1,529,099 574,882

Treasury cash holdings 440 + 16 + 338 466

Deposits with F.R. Banks, other than reserve balances 952,911 - 55,425 + 280,594 952,730

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 785,465 - 52,540 + 308,132 788,759

Foreign official 9,689 0 + 253 9,687

Other14 157,757 - 2,885 - 27,791 154,283

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

Other liabilities and capital16 -97,049 + 1,973 - 113,454 -96,658

Total factors, other than reserve balances, 

absorbing reserve funds 4,068,481 - 74,484 -1,350,493 4,109,371

Reserve balances with Federal Reserve Banks 3,565,999 + 25,054 + 549,422 3,523,095

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 21, 2024 Feb 14, 2024 Feb 22, 2023

Wednesday

Feb 21, 2024

Securities held in custody for foreign official and international 

accounts 3,368,248 + 1,467 + 15,569 3,363,763

Marketable U.S. Treasury securities1 2,949,633 + 2,708 + 5,389 2,946,162

Federal agency debt and mortgage-backed securities2 336,454 - 1,139 + 9,974 335,589

Other securities3 82,161 - 101 + 206 82,011

Securities lent to dealers 27,645 - 2,383 - 9,023 33,527

Overnight facility4 27,645 - 2,383 - 9,023 33,527

U.S. Treasury securities 27,645 - 2,383 - 9,009 33,527

Federal agency debt securities 0 0 - 14 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 21, 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 2,517 65,061 99,063 3,227 0 ... 169,867

U.S. Treasury securities2

Holdings 67,773 257,083 549,934 1,563,703 716,276 1,506,651 4,661,421

Weekly changes - 50,394 + 62,348 - 2,770 - 16,603 - 25,472 + 1,817 - 31,074

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 5,570 31,567 2,377,051 2,414,220

Weekly changes 0 0 0 - 1 - 3 - 3,003 - 3,007

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 7,346 ... ... 7,346

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

Central bank liquidity swaps7 215 0 0 0 0 0 215

Reverse repurchase agreements6 914,625 0 ... ... ... ... 914,625

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 21, 2024

Mortgage-backed securities held outright1 2,414,220

Residential mortgage-backed securities 2,406,005

Commercial mortgage-backed securities 8,215

Commitments to buy mortgage-backed securities2 78

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 21, 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) 6,283 6,511 8,298 14,809

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 21, 2024 Feb 14, 2024 Feb 22, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,537 + 10 + 235

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,496,656 - 35,378 - 786,393

Securities held outright1 7,077,988 - 34,081 - 908,899

U.S. Treasury securities 4,661,421 - 31,074 - 702,870

Bills2 210,353 0 - 74,668

Notes and bonds, nominal2 3,979,933 - 30,961 - 623,804

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

Inflation compensation3 110,912 - 113 + 10,358

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,414,220 - 3,007 - 206,028

Unamortized premiums on securities held outright5 274,368 - 655 - 34,081

Unamortized discounts on securities held outright5 -25,568 - 61 + 2,081

Repurchase agreements6 1 + 1 + 1

Loans7 169,867 - 581 + 154,504

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 14,809 - 323 - 7,577

Net portfolio holdings of Municipal Liquidity Facility LLC8 1 0 - 5,588

Net portfolio holdings of TALF II LLC8 0 0 - 1,953

Items in process of collection (0) 61 - 3 + 6

Bank premises 471 + 24 - 16

Central bank liquidity swaps9 215 - 12 - 178

Foreign currency denominated assets10 18,041 + 109 - 358

Other assets11 33,653 - 16,619 + 1,313

Total assets (0) 7,581,683 - 52,191 - 800,507

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 21, 2024 Feb 14, 2024 Feb 22, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,280,054 + 2,637 + 28,157

Reverse repurchase agreements12 914,625 + 9,053 -1,556,732

Deposits (0) 4,475,825 - 65,742 + 848,439

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,523,095 - 14,374 + 539,537

U.S. Treasury, General Account 788,759 - 43,121 + 337,452

Foreign official 9,687 0 + 252

Other13 (0) 154,283 - 8,248 - 28,803

Deferred availability cash items (0) 398 + 22 + 46

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

Other liabilities and accrued dividends15 -139,798 + 1,836 - 113,112

Total liabilities (0) 7,538,542 - 52,193 - 801,111

Capital accounts

Capital paid in 36,355 + 1 + 604

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,140 + 1 + 604

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 21, 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 1,537 51 39 142 57 189 118 271 40 58 102 194 277

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,496,656 151,779 4,103,908 124,170 229,367 522,338 509,610 468,725 118,182 59,921 107,506 372,826 728,324

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 14,809 14,809 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 215 9 76 8 20 44 6 7 5 1 2 5 31

Foreign currency denominated 

assets4 18,041 776 6,420 648 1,701 3,653 541 628 406 114 192 380 2,582

Other assets5 34,186 830 15,237 648 1,043 2,718 3,266 2,031 881 593 889 1,847 4,203

Interdistrict settlement account 0 + 4,144 - 26,957 - 11,862 + 41,296 + 176,704 - 39,026 - 86,986 - 10,797 - 7,200 - 20,071 - 56,914 + 37,671

Total assets 7,581,683 172,955 4,103,899 114,279 274,237 706,832 476,801 385,782 109,196 53,751 89,071 319,627 775,253

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 21, 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 2,280,054 79,967 740,668 49,451 110,094 160,626 355,259 121,442 71,190 32,390 44,638 189,467 324,862

Reverse repurchase agreements6 914,625 17,670 510,773 15,074 28,107 63,648 61,961 57,014 13,682 6,202 11,825 44,594 84,075

Deposits 4,475,825 67,701 2,928,069 49,466 137,039 496,209 57,539 215,331 23,258 14,982 32,485 85,902 367,845

Depository institutions 3,523,095 67,631 2,077,726 49,464 137,006 495,783 57,510 113,812 23,252 14,920 32,450 85,730 367,811

U.S. Treasury, General Account 788,759 0 788,759 0 0 0 0 0 0 0 0 0 0

Foreign official 9,687 2 9,662 1 4 8 1 1 1 0 0 1 6

Other7 154,283 69 51,922 0 30 417 27 101,517 5 62 34 171 29

Earnings remittances due to the U.S. 

Treasury8 -151,571 -2,950 -95,833 -1,450 -6,009 -23,544 -216 -10,813 -72 -224 -557 -1,788 -8,114

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 12,171 1,320 5,372 229 428 1,438 782 682 167 129 206 333 1,084

Total liabilities 7,538,542 171,147 4,089,049 112,769 269,659 698,377 475,324 383,656 108,225 53,479 88,597 318,508 769,752

Capital

Capital paid in 36,355 1,525 12,504 1,271 3,856 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 7,581,683 172,955 4,103,899 114,279 274,237 706,832 476,801 385,782 109,196 53,751 89,071 319,627 775,253

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 21, 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 21, 2024

Federal Reserve notes outstanding 2,718,435

Less: Notes held by F.R. Banks not subject to collateralization 438,382

Federal Reserve notes to be collateralized 2,280,054

Collateral held against Federal Reserve notes 2,280,054

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,263,817

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,077,989

Less: Face value of securities under reverse repurchase agreements 1,067,549

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,010,440

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.