FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern time

May 23, 2024

"Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal 

Reserve Banks," has been modified to reflect the Federal Reserve's return of a portion of Treasury's equity 

investment in the MS Facilities LLC (Main Street Lending Program) which occurred on May 17, 2024. 

Footnote 15 in Factors Affecting Reserve Balances of Depository Institutions (table 1), footnote 14 in the 

Consolidated Statement of Condition of All Federal Reserve Banks (table 5), and footnote 9 in the 

Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks May 23, 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

May 22, 2024 May 15, 2024 May 24, 2023

Wednesday

May 22, 2024

Reserve Bank credit 7,265,524 - 44,728 -1,140,328 7,263,580

Securities held outright1 6,861,243 - 27,795 - 908,679 6,859,354

U.S. Treasury securities 4,488,518 - 26,134 - 706,314 4,488,767

Bills2 195,218 0 - 85,823 195,218

Notes and bonds, nominal2 3,827,406 - 26,811 - 615,577 3,827,406

Notes and bonds, inflation-indexed2 350,161 0 - 15,275 350,161

Inflation compensation3 115,733 + 677 + 10,361 115,982

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

Mortgage-backed securities4 2,370,378 - 1,661 - 202,365 2,368,240

Unamortized premiums on securities held outright5 267,436 - 511 - 32,565 267,198

Unamortized discounts on securities held outright5 -25,290 - 335 + 2,526 -25,208

Repurchase agreements6 16 + 1 + 1 1

Foreign official 0 - 1 - 1 1

Others 15 + 1 0 0

Loans 118,649 - 1,030 - 181,937 118,619

Primary credit 6,571 + 174 - 505 6,664

Secondary credit 0 0 0 0

Seasonal credit 25 0 + 17 26

Paycheck Protection Program Liquidity Facility 2,929 - 13 - 5,297 2,925

Bank Term Funding Program 109,123 - 1,192 + 20,440 109,005

Other credit extensions7 0 0 - 196,593 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 11,649 - 2,430 - 8,840 11,304

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,577 0

Net portfolio holdings of TALF II LLC8 0 0 - 1,750 0

Float -246 - 11 - 78 -324

Central bank liquidity swaps9 123 - 6 - 271 123

Other Federal Reserve assets10 31,944 - 12,610 - 3,157 32,512

Foreign currency denominated assets11 17,949 + 82 - 510 17,895

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 52,896 + 14 + 690 52,896

Total factors supplying reserve funds 7,352,610 - 44,631 -1,140,147 7,350,612

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

May 22, 2024 May 15, 2024 May 24, 2023

Wednesday

May 22, 2024

Currency in circulation12 2,347,715 - 65 + 12,886 2,349,764

Reverse repurchase agreements13 835,124 - 4,878 -1,798,295 864,910

Foreign official and international accounts 372,828 + 7,404 + 3,857 368,528

Others 462,296 - 12,282 -1,802,152 496,382

Treasury cash holdings 450 + 6 + 231 442

Deposits with F.R. Banks, other than reserve balances 893,043 - 53,811 + 610,273 874,689

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 725,376 - 61,757 + 663,424 710,882

Foreign official 9,761 + 82 + 76 9,677

Other14 157,907 + 7,865 - 53,226 154,129

Treasury contributions to credit facilities15 5,313 - 2,125 - 8,329 4,958

Other liabilities and capital16 -119,828 - 4,805 - 107,535 -119,166

Total factors, other than reserve balances, 

absorbing reserve funds 3,961,816 - 65,679 -1,290,769 3,975,597

Reserve balances with Federal Reserve Banks 3,390,794 + 21,047 + 150,622 3,375,014

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 $5.0 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

May 22, 2024 May 15, 2024 May 24, 2023

Wednesday

May 22, 2024

Securities held in custody for foreign official and international 

accounts 3,323,789 - 13,388 - 73,729 3,319,281

Marketable U.S. Treasury securities1 2,929,498 - 11,744 - 43,531 2,927,435

Federal agency debt and mortgage-backed securities2 313,292 - 1,712 - 29,563 310,753

Other securities3 80,999 + 68 - 635 81,093

Securities lent to dealers 32,095 - 1,699 - 9,288 33,887

Overnight facility4 32,095 - 1,699 - 9,288 33,887

U.S. Treasury securities 32,095 - 1,699 - 9,279 33,887

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, May 22, 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 1,827 7,340 106,570 2,881 0 ... 118,619

U.S. Treasury securities2

Holdings 68,095 224,099 532,306 1,502,016 648,792 1,513,459 4,488,767

Weekly changes + 26,351 + 7,364 - 33,629 + 293 + 5,382 - 5,084 + 677

Federal agency debt securities3

Holdings 0 0 0 486 1,861 0 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 38 5,699 28,112 2,334,390 2,368,240

Weekly changes 0 0 0 0 - 46 - 3,698 - 3,743

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 6,620 ... ... 6,620

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

Central bank liquidity swaps7 123 0 0 0 0 0 123

Reverse repurchase agreements6 864,910 0 ... ... ... ... 864,910

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 May 22, 2024

Mortgage-backed securities held outright1 2,368,240

Residential mortgage-backed securities 2,360,076

Commercial mortgage-backed securities 8,164

Commitments to buy mortgage-backed securities2 68

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 

180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed 

securities generally settle within three business days.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Credit Facilities LLC

Millions of dollars

Wednesday May 22, 2024

Net portfolio holdings of

Credit Facilities LLC

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLC:

the LLC1 purchases2 other assets3 Total

MS Facilities LLC (Main Street Lending Program) 5,486 5,530 5,774 11,304

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 credit losses updated as of March 

31, 2024.

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

May 22, 2024 May 15, 2024 May 24, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,484 - 11 + 194

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,219,965 - 4,219 -1,116,634

Securities held outright1 6,859,354 - 3,066 - 908,379

U.S. Treasury securities 4,488,767 + 677 - 706,194

Bills2 195,218 0 - 85,823

Notes and bonds, nominal2 3,827,406 0 - 615,577

Notes and bonds, inflation-indexed2 350,161 0 - 15,275

Inflation compensation3 115,982 + 678 + 10,481

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,368,240 - 3,743 - 202,185

Unamortized premiums on securities held outright5 267,198 - 580 - 32,503

Unamortized discounts on securities held outright5 -25,208 - 272 + 2,517

Repurchase agreements6 1 + 1 - 29

Loans7 118,619 - 303 - 178,241

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 11,304 - 2,469 - 8,953

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,579

Net portfolio holdings of TALF II LLC8 0 0 - 1,752

Items in process of collection (0) 46 - 7 + 12

Bank premises 449 + 2 - 7

Central bank liquidity swaps9 123 - 7 - 268

Foreign currency denominated assets10 17,895 - 77 - 483

Other assets11 32,062 + 2,080 - 3,221

Total assets (0) 7,299,566 - 4,706 -1,136,689

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

May 22, 2024 May 15, 2024 May 24, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,298,791 + 1,356 + 11,558

Reverse repurchase agreements12 864,910 + 37,700 -1,746,096

Deposits (0) 4,249,703 - 36,292 + 712,967

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,375,014 - 41,372 + 124,243

U.S. Treasury, General Account 710,882 + 4,774 + 661,409

Foreign official 9,677 - 3 - 9

Other13 (0) 154,129 + 308 - 72,678

Deferred availability cash items (0) 370 - 22 + 135

Treasury contributions to credit facilities14 4,958 - 2,480 - 8,400

Other liabilities and accrued dividends15 -162,356 - 4,967 - 107,641

Total liabilities (0) 7,256,376 - 4,706 -1,137,478

Capital accounts

Capital paid in 36,405 0 + 788

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,190 0 + 788

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 $5.0 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, May 22, 2024

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificates and special drawing 

rights certificates 16,237 563 5,129 517 761 1,203 2,268 1,108 484 272 460 1,311 2,161

Coin 1,484 42 46 166 48 195 109 261 29 53 104 167 265

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,219,965 160,474 3,834,415 108,281 280,374 718,150 484,980 400,805 105,596 50,292 86,791 320,421 669,386

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 11,304 11,304 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 123 5 43 4 13 24 4 6 3 1 1 3 16

Foreign currency denominated 

assets4 17,895 747 6,189 630 1,904 3,530 586 878 403 112 195 430 2,291

Other assets5 32,558 926 14,518 593 1,241 3,474 3,149 1,814 823 462 763 1,585 3,210

Interdistrict settlement account 0 - 4,607 + 30,511 + 13,603 - 11,565 - 23,344 - 16,851 - 34,264 - 1,839 - 4,154 - 13,195 - 7,636 + 73,340

Total assets 7,299,566 169,454 3,890,850 123,794 272,776 703,233 474,246 370,608 105,498 47,037 75,119 316,282 750,668

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, May 22, 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 2,298,791 86,535 741,834 53,275 112,389 162,201 356,444 116,658 72,026 29,437 37,410 199,097 331,485

Reverse repurchase agreements6 864,910 17,990 465,443 12,886 33,727 86,213 57,866 47,732 12,103 5,403 9,510 37,770 78,267

Deposits 4,249,703 60,440 2,771,878 57,661 128,951 472,741 57,667 215,569 20,224 12,007 28,138 79,488 344,940

Depository institutions 3,375,014 60,382 2,001,467 57,660 128,917 472,356 57,641 111,998 20,218 11,940 28,107 79,423 344,904

U.S. Treasury, General Account 710,882 0 710,882 0 0 0 0 0 0 0 0 0 0

Foreign official 9,677 2 9,651 1 4 8 1 2 1 0 0 1 5

Other7 154,129 56 49,878 0 30 376 25 103,568 4 66 30 64 31

Earnings remittances due to the U.S. 

Treasury8 -170,342 -3,363 -106,350 -1,737 -7,183 -27,396 102 -11,957 14 -198 -579 -1,485 -10,208

Treasury contributions to credit facilities9 4,958 4,958 0 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 8,356 1,077 3,177 199 321 1,019 708 472 151 116 179 252 686

Total liabilities 7,256,376 167,636 3,875,981 122,284 268,205 694,777 472,787 368,474 104,517 46,765 74,658 315,122 745,169

Capital

Capital paid in 36,405 1,535 12,523 1,271 3,849 7,117 1,236 1,802 829 230 387 996 4,630

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 7,299,566 169,454 3,890,850 123,794 272,776 703,233 474,246 370,608 105,498 47,037 75,119 316,282 750,668

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, May 22, 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 $5.0 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 May 22, 2024

Federal Reserve notes outstanding 2,748,312

Less: Notes held by F.R. Banks not subject to collateralization 449,521

Federal Reserve notes to be collateralized 2,298,791

Collateral held against Federal Reserve notes 2,298,791

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,282,554

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,859,355

Less: Face value of securities under reverse repurchase agreements 1,008,914

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,850,441

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.