FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern Time

April 16, 2020

The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks,” has been modified to include

information related to Commercial Paper Funding Facility (CPFF). This facility operates through

the Commercial Paper Funding Facility II LLC (CPFF II LLC), a special purpose vehicle that

was formed to purchase three-month U.S. dollar-denominated commercial paper from eligible

issuers and thereby foster liquidity in short-term funding markets and increase the availability of

credit for businesses and households. 

On March 17, 2020, the Federal Reserve announced the CPFF. On April 14, 2020, the Federal

Reserve Bank of New York (FRBNY) extended credit to the CPFF II LLC under the authority of

section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary, and the CPFF

II LLC began purchasing eligible commercial paper.

Consistent with generally accepted accounting principles, the assets and liabilities of CPFF II

LLC have been consolidated with the assets and liabilities of the FRBNY in the preparation of

the statements of condition shown on the release because the FRBNY is the managing member

of CPFF II LLC. The net portfolio holdings of CPFF II LLC appear as an asset on the statement

of condition of the FRBNY (table 5), the consolidated statement of condition of all Federal

Reserve Banks (table 4), and factors affecting reserve balances of depository institutions (table

1). The amount provided by the U.S. Treasury as credit protection is recorded in “Other

liabilities and capital” in table 1 and “Other liabilities and accrued dividends” in tables 4 and 5. 

Additionally, amounts for “Net portfolio holdings of Maiden Lane LLC,” were removed from

table 1 because the portfolio holdings have been reduced to de minimis balances. Amounts will

be included in “Other Federal Reserve Assets” in table 1 and “Other assets” in tables 4 and 5.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 16, 2020

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 15, 2020 Apr 8, 2020 Apr 17, 2019

Wednesday

Apr 15, 2020

Reserve Bank credit 6,196,020 + 227,982 +2,299,746 6,329,072

Securities held outright1 5,195,539 + 222,862 +1,448,965 5,359,376

U.S. Treasury securities 3,717,414 + 206,286 +1,563,958 3,788,858

Bills2 326,044 0 + 326,044 326,044

Notes and bonds, nominal2 3,140,587 + 190,299 +1,124,023 3,206,144

Notes and bonds, inflation-indexed2 217,244 + 14,619 + 102,094 222,692

Inflation compensation3 33,539 + 1,369 + 11,797 33,978

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

Mortgage-backed securities4 1,475,778 + 16,576 - 114,993 1,568,171

Unamortized premiums on securities held outright5 250,328 + 20,389 + 115,251 262,334

Unamortized discounts on securities held outright5 -7,123 + 834 + 5,923 -6,896

Repurchase agreements6 201,596 - 26,047 + 201,596 181,100

Foreign official 1 + 1 + 1 0

Others 201,596 - 26,047 + 201,596 181,100

Loans 128,604 - 1,400 + 128,580 120,349

Primary credit 41,034 - 2,479 + 41,024 36,284

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 13 0

Primary Dealer Credit Facility 35,590 + 2,891 + 35,590 33,409

Money Market Mutual Fund Liquidity Facility 51,944 - 1,849 + 51,944 50,656

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 141 + 141 + 141 974

Float -266 - 72 - 58 -361

Central bank liquidity swaps8 393,063 + 7,698 + 393,008 378,291

Other Federal Reserve assets9 34,137 + 3,577 + 6,338 33,904

Foreign currency denominated assets10 20,515 + 156 - 116 20,525

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,247 + 14 + 366 50,247

Total factors supplying reserve funds 6,283,023 + 228,152 +2,299,996 6,416,085

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 15, 2020 Apr 8, 2020 Apr 17, 2019

Wednesday

Apr 15, 2020

Currency in circulation11 1,884,944 + 3,933 + 157,948 1,887,593

Reverse repurchase agreements12 284,464 - 128,326 + 32,605 279,584

Foreign official and international accounts 278,571 - 3,774 + 26,841 276,434

Others 5,893 - 124,552 + 5,764 3,150

Treasury cash holdings 307 - 10 - 25 302

Deposits with F.R. Banks, other than reserve balances 1,134,405 + 187,593 + 780,064 1,103,978

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 889,815 + 191,237 + 604,551 856,155

Foreign official 16,352 - 408 + 11,108 16,347

Other13 228,237 - 3,237 + 164,404 231,475

Other liabilities and capital14 59,862 + 6,372 + 14,842 74,756

Total factors, other than reserve balances,

absorbing reserve funds 3,363,982 + 69,562 + 985,434 3,346,212

Reserve balances with Federal Reserve Banks 2,919,041 + 158,590 +1,314,562 3,069,872

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. Refer to the note on consolidation accompanying table 5.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the

foreign central bank.

9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks

as fiscal agents of the United States.

14. 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 15, 2020 Apr 8, 2020 Apr 17, 2019

Wednesday

Apr 15, 2020

Securities held in custody for foreign official and international

accounts 3,318,168 + 1,971 - 149,326 3,328,037

Marketable U.S. Treasury securities1 2,847,057 + 1,385 - 215,157 2,857,372

Federal agency debt and mortgage-backed securities2 388,210 - 70 + 54,378 387,578

Other securities3 82,900 + 655 + 11,451 83,087

Securities lent to dealers 34,596 - 1,976 + 12,652 32,721

Overnight facility4 34,596 - 1,976 + 12,652 32,721

U.S. Treasury securities 34,596 - 1,976 + 12,652 32,721

Federal agency debt securities 0 0 0 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, 4, and 5.

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.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, April 15, 2020

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 13,782 88,132 18,434 0 0 ... 120,349

U.S. Treasury securities2

Holdings 58,644 225,035 527,601 1,493,336 621,255 862,987 3,788,858

Weekly changes + 11,532 - 8,380 + 27,012 + 61,130 + 44,337 + 18,841 + 154,472

Federal agency debt securities3

Holdings 0 0 0 0 1,151 1,196 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 5 1,696 73,362 1,493,109 1,568,171

Weekly changes 0 0 0 - 8 + 562 + 107,918 + 108,470

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 950 0 ... ... ... 950

Repurchase agreements6 32,700 148,400 ... ... ... ... 181,100

Central bank liquidity swaps7 26,361 351,930 0 0 0 0 378,291

Reverse repurchase agreements6 279,584 0 ... ... ... ... 279,584

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 Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, and other credit extensions. Loans exclude the loan from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper

Funding Facility II LLC, which was eliminated when preparing the FRBNY'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. Face value of commercial paper held by Commercial Paper Funding Facility II 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 15, 2020

Mortgage-backed securities held outright1 1,568,171

Residential mortgage-backed securities 1,562,461

Commercial mortgage-backed securities 5,710

Commitments to buy mortgage-backed securities2 268,565

Commitments to sell mortgage-backed securities2 1,000

Cash and cash equivalents3 11

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 4 and table 5.
H.4.1

4. 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 15, 2020 Apr 8, 2020 Apr 17, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,656 - 12 - 38

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 5,916,263 + 261,709 +2,050,671

Securities held outright1 5,359,376 + 262,942 +1,615,682

U.S. Treasury securities 3,788,858 + 154,472 +1,635,449

Bills2 326,044 0 + 326,044

Notes and bonds, nominal2 3,206,144 + 141,284 +1,189,670

Notes and bonds, inflation-indexed2 222,692 + 12,067 + 107,548

Inflation compensation3 33,978 + 1,121 + 12,186

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,568,171 + 108,470 - 19,767

Unamortized premiums on securities held outright5 262,334 + 19,221 + 127,421

Unamortized discounts on securities held outright5 -6,896 + 485 + 6,138

Repurchase agreements6 181,100 - 11,651 + 181,100

Loans7 120,349 - 9,288 + 120,330

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 974 + 974 + 974

Items in process of collection (0) 35 - 4 - 30

Bank premises 2,203 + 2 0

Central bank liquidity swaps9 378,291 + 20,214 + 378,236

Foreign currency denominated assets10 20,525 + 152 - 101

Other assets11 31,703 + 1,713 + 6,347

Total assets (0) 6,367,887 + 284,746 +2,436,060

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

4. 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 15, 2020 Apr 8, 2020 Apr 17, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,839,299 + 4,074 + 159,130

Reverse repurchase agreements12 279,584 - 54,904 + 23,902

Deposits (0) 4,173,852 + 315,492 +2,222,729

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,069,874 + 295,368 +1,545,577

U.S. Treasury, General Account 856,155 + 28,977 + 486,790

Foreign official 16,347 - 299 + 11,104

Other13 (0) 231,475 - 8,555 + 179,256

Deferred availability cash items (0) 396 + 52 + 80

Other liabilities and accrued dividends14 35,924 + 20,032 + 30,730

Total liabilities (0) 6,329,055 + 284,746 +2,436,570

Capital accounts

Capital paid in 32,007 0 - 510

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,832 0 - 510

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, and other credit extensions.

8. Refer to the note on consolidation accompanying table 5.

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. Also includes net portfolio

holdings of Maiden Lane LLC.

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. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, April 15, 2020

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 16,237 547 5,525 537 768 1,166 2,214 1,135 478 276 445 1,172 1,974

Coin 1,656 39 48 150 90 224 158 276 29 50 110 189 294

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 5,916,263 171,952 3,216,038 140,699 170,616 355,201 396,430 308,255 83,574 50,317 86,869 253,004 683,306

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 974 0 974 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 378,291 17,956 127,130 13,613 32,327 79,845 18,762 14,691 6,201 2,962 3,989 4,491 56,324

Foreign currency denominated

assets4 20,525 974 6,899 738 1,754 4,331 1,018 797 336 161 216 244 3,056

Other assets5 33,941 809 17,233 861 1,065 2,378 2,388 1,825 641 406 791 1,657 3,888

Interdistrict settlement account 0 - 30,758 + 92,050 - 14,798 + 1,964 + 75,875 - 56,279 + 23,416 - 7,250 - 6,401 - 604 + 48,467 - 125,681

Total assets 6,367,887 161,518 3,465,898 141,801 208,583 519,020 364,691 350,394 84,009 47,770 91,816 309,224 623,161

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, April 15, 2020 (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 1,839,299 56,991 618,290 50,348 83,899 123,857 252,792 118,987 57,718 29,801 49,485 150,153 246,977

Reverse repurchase agreements6 279,584 5,800 152,533 6,771 8,180 17,110 19,116 14,676 4,018 2,419 4,146 12,140 32,676

Deposits 4,173,852 96,339 2,657,062 82,685 112,475 368,281 89,307 213,999 21,239 14,557 37,330 145,290 335,288

Depository institutions 3,069,874 96,325 1,700,373 82,683 105,413 367,145 88,989 95,662 21,234 14,501 25,698 136,569 335,281

U.S. Treasury, General Account 856,155 0 856,155 0 0 0 0 0 0 0 0 0 0

Foreign official 16,347 2 16,321 1 3 8 2 2 1 0 0 0 6

Other7 231,475 12 84,213 0 7,058 1,128 316 118,336 4 56 11,632 8,720 1

Earnings remittances due to the U.S.

Treasury8 2,104 53 1,165 48 72 135 136 100 22 19 20 82 252

Other liabilities and accrued

dividends 34,216 505 23,847 562 661 1,487 1,440 1,135 377 649 420 913 2,221

Total liabilities 6,329,055 159,688 3,452,897 140,413 205,286 510,869 362,791 348,896 83,375 47,445 91,402 308,578 617,414

Capital

Capital paid in 32,007 1,506 10,707 1,143 2,714 6,710 1,561 1,233 523 272 342 565 4,731

Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016

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

Total liabilities and capital 6,367,887 161,518 3,465,898 141,801 208,583 519,020 364,691 350,394 84,009 47,770 91,816 309,224 623,161

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Statement of Condition of Each Federal Reserve Bank, April 15, 2020 (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 Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, and other credit extensions.

2. 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. Also includes Net portfolio

holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

On April 14, 2020, the Federal Reserve Bank of New York (FRBNY) began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC) under the authority of section 13(3) of the

Federal Reserve Act. CPFF II LLC is a limited liability company formed to purchase three-month U.S dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC are

used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY.

The FRBNY is the managing member of CPFF II LLC. Consistent with generally accepted accounting principles, the assets and liabilities of the CPFF II LLC have been consolidated with the assets

and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the FRBNY to CPFF II LLC is eliminated, the

net assets of the CPFF II LLC appear as assets on the previous page (and in table 1 and table 4), and the liabilities of the CPFF II LLC to entities other than the FRBNY, including those with recourse

only to the portfolio holdings of the CPFF II LLC are included in other liabilities in this table (and table 1 and table 4).
H.4.1

6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Apr 15, 2020

Federal Reserve notes outstanding 2,007,661

Less: Notes held by F.R. Banks not subject to collateralization 168,361

Federal Reserve notes to be collateralized 1,839,299

Collateral held against Federal Reserve notes 1,839,299

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,823,063

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 5,540,476

Less: Face value of securities under reverse repurchase agreements 266,203

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,274,273

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.