FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks May 30, 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 29, 2024 May 22, 2024 May 31, 2023

Wednesday

May 29, 2024

Reserve Bank credit 7,260,340 - 5,184 -1,119,595 7,248,171

Securities held outright1 6,855,939 - 5,304 - 895,410 6,846,434

U.S. Treasury securities 4,489,237 + 719 - 701,529 4,489,444

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

Notes and bonds, nominal2 3,827,406 0 - 610,730 3,827,406

Notes and bonds, inflation-indexed2 350,161 0 - 15,678 350,161

Inflation compensation3 116,452 + 719 + 10,702 116,659

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

Mortgage-backed securities4 2,364,355 - 6,023 - 193,881 2,354,642

Unamortized premiums on securities held outright5 266,800 - 636 - 32,205 266,456

Unamortized discounts on securities held outright5 -25,266 + 24 + 2,494 -25,191

Repurchase agreements6 1 - 15 0 5

Foreign official 1 + 1 0 0

Others 1 - 14 + 1 5

Loans 118,248 - 401 - 177,561 117,775

Primary credit 6,669 + 98 + 2,971 6,574

Secondary credit 0 0 0 0

Seasonal credit 35 + 10 + 29 33

Paycheck Protection Program Liquidity Facility 2,921 - 8 - 5,133 2,920

Bank Term Funding Program 108,622 - 501 + 15,280 108,249

Other credit extensions7 0 0 - 190,708 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 11,312 - 337 - 8,948 11,360

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

Net portfolio holdings of TALF II LLC8 0 0 - 1,745 0

Float -369 - 123 - 6 -545

Central bank liquidity swaps9 112 - 11 - 280 112

Other Federal Reserve assets10 33,562 + 1,618 - 356 31,765

Foreign currency denominated assets11 17,893 - 56 - 387 17,833

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding12 52,910 + 14 + 694 52,910

Total factors supplying reserve funds 7,347,383 - 5,227 -1,119,288 7,335,155

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 29, 2024 May 22, 2024 May 31, 2023

Wednesday

May 29, 2024

Currency in circulation12 2,352,465 + 4,750 + 10,595 2,354,005

Reverse repurchase agreements13 812,263 - 22,861 -1,733,102 824,602

Foreign official and international accounts 373,762 + 934 + 30,068 365,288

Others 438,501 - 23,795 -1,763,170 459,314

Treasury cash holdings 439 - 11 + 208 421

Deposits with F.R. Banks, other than reserve balances 885,093 - 7,950 + 617,296 876,937

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 704,335 - 21,041 + 655,381 716,020

Foreign official 9,684 - 77 - 12 9,684

Other14 171,074 + 13,167 - 38,073 151,233

Treasury contributions to credit facilities15 4,958 - 355 - 8,400 4,958

Other liabilities and capital16 -117,177 + 2,651 - 105,780 -116,844

Total factors, other than reserve balances, 

absorbing reserve funds 3,938,041 - 23,775 -1,219,184 3,944,080

Reserve balances with Federal Reserve Banks 3,409,342 + 18,548 + 99,895 3,391,075

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 29, 2024 May 22, 2024 May 31, 2023

Wednesday

May 29, 2024

Securities held in custody for foreign official and international 

accounts 3,321,817 - 1,972 - 87,873 3,322,404

Marketable U.S. Treasury securities1 2,929,930 + 432 - 56,283 2,930,784

Federal agency debt and mortgage-backed securities2 310,865 - 2,427 - 31,295 310,630

Other securities3 81,022 + 23 - 295 80,991

Securities lent to dealers 32,302 + 207 - 20,435 32,568

Overnight facility4 32,302 + 207 - 20,435 32,568

U.S. Treasury securities 32,302 + 207 - 20,426 32,568

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 29, 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 1,644 7,408 105,849 2,875 0 ... 117,775

U.S. Treasury securities2

Holdings 60,920 230,860 532,808 1,502,308 648,895 1,513,653 4,489,444

Weekly changes - 7,175 + 6,761 + 502 + 292 + 103 + 194 + 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 31 5,586 27,506 2,321,520 2,354,642

Weekly changes 0 0 - 7 - 113 - 606 - 12,870 - 13,598

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 6,494 ... ... 6,494

Repurchase agreements6 5 0 ... ... ... ... 5

Central bank liquidity swaps7 112 0 0 0 0 0 112

Reverse repurchase agreements6 824,602 0 ... ... ... ... 824,602

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 29, 2024

Mortgage-backed securities held outright1 2,354,642

Residential mortgage-backed securities 2,346,483

Commercial mortgage-backed securities 8,159

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 29, 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 5,495 5,864 11,360

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 29, 2024 May 22, 2024 May 31, 2023

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,478 - 6 + 197

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 7,205,480 - 14,485 -1,083,968

Securities held outright1 6,846,434 - 12,920 - 878,386

U.S. Treasury securities 4,489,444 + 677 - 674,793

Bills2 195,218 0 - 85,823

Notes and bonds, nominal2 3,827,406 0 - 581,647

Notes and bonds, inflation-indexed2 350,161 0 - 18,092

Inflation compensation3 116,659 + 677 + 10,770

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,354,642 - 13,598 - 203,594

Unamortized premiums on securities held outright5 266,456 - 742 - 32,373

Unamortized discounts on securities held outright5 -25,191 + 17 + 2,655

Repurchase agreements6 5 + 4 + 5

Loans7 117,775 - 844 - 175,869

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 11,360 + 56 - 8,919

Net portfolio holdings of Municipal Liquidity Facility LLC8 0 0 - 5,582

Net portfolio holdings of TALF II LLC8 0 0 - 1,708

Items in process of collection (0) 53 + 7 - 5

Bank premises 445 - 4 - 23

Central bank liquidity swaps9 112 - 11 - 280

Foreign currency denominated assets10 17,833 - 62 - 425

Other assets11 31,323 - 739 - 820

Total assets (0) 7,284,319 - 15,247 -1,101,535

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 29, 2024 May 22, 2024 May 31, 2023

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,302,990 + 4,199 + 9,056

Reverse repurchase agreements12 824,602 - 40,308 -1,791,075

Deposits (0) 4,268,015 + 18,312 + 794,014

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,391,077 + 16,063 + 185,551

U.S. Treasury, General Account 716,020 + 5,138 + 667,508

Foreign official 9,684 + 7 - 71

Other13 (0) 151,233 - 2,896 - 58,976

Deferred availability cash items (0) 598 + 228 - 135

Treasury contributions to credit facilities14 4,958 0 - 8,400

Other liabilities and accrued dividends15 -160,034 + 2,322 - 105,777

Total liabilities (0) 7,241,129 - 15,247 -1,102,317

Capital accounts

Capital paid in 36,405 0 + 782

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 43,190 0 + 782

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 29, 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 1,478 43 46 165 47 198 109 257 28 51 103 166 263

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 7,205,480 160,074 3,827,028 108,096 279,835 716,787 484,078 400,005 105,335 50,170 86,637 319,817 667,619

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 11,360 11,360 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 112 5 39 4 12 22 4 5 3 1 1 3 14

Foreign currency denominated 

assets4 17,833 744 6,167 628 1,897 3,518 584 875 402 112 194 429 2,283

Other assets5 31,820 924 14,078 582 1,212 3,374 3,114 1,776 815 470 764 1,559 3,152

Interdistrict settlement account 0 + 3,201 + 27,000 + 12,204 - 9,656 - 19,590 - 18,626 - 30,400 - 1,686 - 3,889 - 11,625 - 10,999 + 64,065

Total assets 7,284,319 176,913 3,879,486 122,197 274,109 705,512 471,531 373,627 105,381 47,186 76,534 312,286 739,557

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 29, 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 2,302,990 86,819 740,952 54,070 113,608 162,708 356,639 116,658 72,261 29,081 37,104 200,181 332,908

Reverse repurchase agreements6 824,602 17,151 443,752 12,286 32,155 82,195 55,169 45,508 11,539 5,151 9,067 36,010 74,619

Deposits 4,268,015 68,352 2,781,849 55,841 130,555 478,206 57,182 220,683 20,421 12,751 30,271 76,064 335,841

Depository institutions 3,391,077 68,292 2,006,589 55,839 130,522 477,838 57,154 119,754 20,416 12,630 30,242 75,997 335,805

U.S. Treasury, General Account 716,020 0 716,020 0 0 0 0 0 0 0 0 0 0

Foreign official 9,684 2 9,658 1 4 8 1 2 1 0 0 1 5

Other7 151,233 58 49,582 0 29 360 26 100,928 4 120 29 66 31

Earnings remittances due to the U.S. 

Treasury8 -171,929 -3,379 -107,304 -1,769 -7,243 -27,669 94 -12,062 3 -200 -582 -1,466 -10,351

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 12,493 1,194 5,368 260 463 1,616 989 705 175 130 214 338 1,041

Total liabilities 7,241,129 175,095 3,864,617 120,688 269,538 697,057 470,073 371,492 104,399 46,913 76,073 311,126 734,058

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 7,284,319 176,913 3,879,486 122,197 274,109 705,512 471,531 373,627 105,381 47,186 76,534 312,286 739,557

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 29, 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 29, 2024

Federal Reserve notes outstanding 2,750,723

Less: Notes held by F.R. Banks not subject to collateralization 447,733

Federal Reserve notes to be collateralized 2,302,990

Collateral held against Federal Reserve notes 2,302,990

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,286,753

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,846,439

Less: Face value of securities under reverse repurchase agreements 974,050

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,872,389

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.