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

June 30, 2022

Reserve Bank credit

 8,889,619

-   11,205

+  850,130

 8,876,712

Securities held outright1

 8,486,638

-    9,512

+  983,899

 8,475,608

U.S. Treasury securities

 5,763,729

+      573

+  587,886

 5,763,933

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,964,079

-        3

+  518,736

 4,964,057

Notes and bonds, inflation-indexed2

   382,966

         0

+   33,190

   382,966

Inflation compensation3

    90,640

+      576

+   35,960

    90,865

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,720,563

-   10,084

+  396,014

 2,709,328

Unamortized premiums on securities held outright5

   334,260

-    1,061

-   16,999

   333,711

Unamortized discounts on securities held outright5

   -25,120

+        8

-   10,926

   -25,082

Repurchase agreements6

         0

         0

         0

         1

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         1

Loans

    21,216

-    1,087

-   69,778

    21,702

Primary credit

     2,882

-      682

+    2,422

     3,604

Secondary credit

         1

+        1

+        1

         0

Seasonal credit

        13

+        5

-        7

        16

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    18,319

-      412

-   72,195

    18,082

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    1,250

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   25,868

         0

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7

    26,376

+       11

-    4,163

    26,387

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,540

+        1

-    5,198

     5,541

Net portfolio holdings of TALF II LLC7

     2,197

         0

-    2,555

     2,198

Float

      -310

-      160

+       13

    -1,185

Central bank liquidity swaps8

       184

-       13

-      393

       184

Other Federal Reserve assets9

    38,637

+      605

+    3,347

    37,647

Foreign currency denominated assets10

    18,229

-        2

-    3,078

    18,117

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,177

+       14

+      591

    51,177

Total factors supplying reserve funds

 8,975,267

-   11,192

+  847,643

 8,962,247

Currency in circulation11

 2,278,688

+    1,032

+   98,178

 2,281,158

Reverse repurchase agreements12

 2,466,420

-    6,918

+1,392,534

 2,488,247

Foreign official and international accounts

   262,835

+   10,009

+   12,055

   261,271

Others

 2,203,585

-   16,927

+1,380,479

 2,226,976

Treasury cash holdings

        98

+        5

+       56

        97

Deposits with F.R. Banks, other than reserve balances

 1,032,987

+   11,995

+   37,097

 1,007,901

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   756,627

-    1,656

+   10,665

   759,845

Foreign official

     7,434

-        1

+      662

     7,434

Other13

   268,925

+   13,650

+   25,769

   240,622

Treasury contributions to credit facilities14

    17,940

         0

-   29,481

    17,940

Other liabilities and capital15

    49,048

+      163

-       36

    48,294

Total factors, other than reserve balances,
absorbing reserve funds

 5,845,180

+    6,277

+1,498,347

 5,843,636

Reserve balances with Federal Reserve Banks

 3,130,087

-   17,469

-  650,704

 3,118,611

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 assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

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.

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.

Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

15.

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

Securities held in custody for foreign official and international accounts

 3,390,844

-   12,434

-  131,738

 3,385,385

Marketable U.S. Treasury securities1

 2,990,677

-    6,306

-   90,944

 2,987,240

Federal agency debt and mortgage-backed securities2

   317,104

-    6,167

-   34,850

   315,090

Other securities3

    83,063

+       39

-    5,944

    83,054

Securities lent to dealers

    44,821

-    3,609

+    4,546

    45,204

Overnight facility4

    44,821

-    3,609

+    4,546

    45,204

U.S. Treasury securities

    44,821

-    3,609

+    4,546

    45,204

Federal agency debt securities

         0

         0

         0

         0

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.

Loans1

     2,718

       918

         0

    18,066

         0

...

    21,702

U.S. Treasury securities2

Holdings

    93,370

   325,023

   810,874

 2,084,018

 1,019,834

 1,430,814

 5,763,933

Weekly changes

+   13,089

-   13,162

+      111

+    9,723

-    9,302

+      130

+      589

Federal agency debt securities3

Holdings

         0

         0

         0

         0

     2,134

       213

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

Holdings

         0

         1

        46

     1,984

    59,537

 2,647,761

 2,709,328

Weekly changes

         0

         0

-        8

-       79

-      984

-   18,415

-   19,487

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    13,856

...

...

    13,856

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

         0

     1,126

...

...

     1,126

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       184

         0

         0

         0

         0

         0

       184

Reverse repurchase agreements8

 2,488,247

         0

...

...

...

...

 2,488,247

Term deposits

         0

         0

         0

...

...

...

         0

1.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF) 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 New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, 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.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

7.

Book value of the loans held by the TALF II LLC.

8.

Cash value of agreements.

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.

Mortgage-backed securities held outright1

 2,709,328

Residential mortgage-backed securities

 2,700,564

Commercial mortgage-backed securities

     8,764

Commitments to buy mortgage-backed securities2

    46,590

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         4

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.

MS Facilities LLC (Main Street Lending Program)

    13,591

    11,987

    14,400

    26,387

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,634

     5,541

TALF II LLC

     1,171

     1,126

     1,072

     2,198

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 March 31, 2022.

b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

    a one-day lag after the transaction date.

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

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. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,248

-        6

+       15

Securities, unamortized premiums and discounts, repurchase agreements, and loans

 8,805,940

-   20,096

+  872,355

Securities held outright1

 8,475,608

-   18,898

+  970,239

U.S. Treasury securities

 5,763,933

+      589

+  580,548

Bills2

   326,044

         0

         0

Notes and bonds, nominal2

 4,964,057

-       25

+  514,708

Notes and bonds, inflation-indexed2

   382,966

         0

+   30,080

Inflation compensation3

    90,865

+      614

+   35,758

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,709,328

-   19,487

+  389,691

Unamortized premiums on securities held outright5

   333,711

-    1,193

-   17,691

Unamortized discounts on securities held outright5

   -25,082

+       70

-   10,770

Repurchase agreements6

         1

+        1

+        1

Loans7

    21,702

-       76

-   69,424

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC8

         0

         0

-   25,902

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8

    26,387

+       13

-    4,160

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,541

+        1

-    5,199

Net portfolio holdings of TALF II LLC8

     2,198

+        1

-    2,491

Items in process of collection

(0)

        52

-       35

-       14

Bank premises

       621

+        3

-    1,308

Central bank liquidity swaps9

       184

-       13

-      384

Foreign currency denominated assets10

    18,117

-      137

-    3,104

Other assets11

    37,028

-      525

+    5,201

Total assets

(0)

 8,913,553

-   20,793

+  835,009

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

 2,231,322

+    2,510

+   97,183

Reverse repurchase agreements12

 2,488,247

-   27,899

+1,227,322

Deposits

(0)

 4,126,514

+    3,361

-  467,301

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,118,614

+    3,020

-  393,016

U.S. Treasury, General Account

   759,845

+   14,793

-   92,084

Foreign official

     7,434

         0

+    2,179

Other13

(0)

   240,622

-   14,451

+   15,620

Deferred availability cash items

(0)

     1,237

+      968

+      109

Treasury contributions to credit facilities14

    17,940

         0

-   22,338

Other liabilities and accrued dividends15

     6,590

+      237

-    2,064

Total liabilities

(0)

 8,871,849

-   20,824

+  832,909

Capital accounts

Capital paid in

    34,919

+       31

+    2,100

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    41,704

+       31

+    2,100

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, Paycheck Protection Program Liquidity Facility, 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

15.

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

Assets

Gold certificates and special drawing rights certificates

    16,237

       544

     5,271

       537

       763

     1,203

     2,247

     1,093

       461

       263

       440

     1,279

     2,136

Coin

     1,248

        19

        23

       108

        48

       194

        97

       222

        24

        41

        91

       154

       228

Securities, unamortized premiums and discounts, repurchase agreements,
and loans1

 8,805,940

   175,943

 4,507,120

   202,311

   354,361

   612,280

   574,774

   600,805

   138,052

    68,869

   137,290

   450,449

   983,686

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    26,387

    26,387

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,541

         0

     5,541

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,198

         0

     2,198

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       184

         8

        64

         7

        18

        37

         6

         7

         4

         1

         2

         4

        26

Foreign currency denominated

assets4

    18,117

       780

     6,311

       672

     1,770

     3,632

       589

       687

       365

        91

       187

       435

     2,597

Other assets5

    37,701

       847

    18,249

       955

     1,558

     2,911

     2,505

     2,526

       696

       457

       884

     1,999

     4,113

Interdistrict settlement account

         0

-    1,929

+  288,974

-   25,419

-   74,482

-   52,856

+    9,595

-   20,095

+    3,427

+      174

-    9,310

+    4,697

-  122,775

Total assets

 8,913,553

   202,599

 4,833,750

   179,171

   284,037

   567,401

   589,814

   585,244

   143,029

    69,896

   129,584

   459,017

   870,012

Liabilities

Federal Reserve notes, net

 2,231,322

    74,333

   703,444

    60,013

   103,377

   151,906

   338,627

   126,829

    71,142

    33,850

    58,860

   196,267

   312,675

Reverse repurchase agreements6

 2,488,247

    49,814

 1,275,728

    57,163

    99,363

   173,397

   162,797

   170,096

    39,079

    17,643

    38,842

   127,572

   276,753

Deposits

 4,126,514

    63,633

 2,833,334

    60,221

    76,971

   232,712

    85,261

   286,149

    31,684

    17,946

    31,201

   133,655

   273,747

Depository institutions

 3,118,614

    63,621

 2,013,048

    60,219

    76,941

   232,171

    85,228

   100,108

    31,678

    17,750

    31,168

   132,960

   273,721

U.S. Treasury, General Account

   759,845

         0

   759,845

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,434

         2

     7,408

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   240,622

        10

    53,033

         0

        27

       533

        32

   186,039

         5

       196

        33

       695

        20

Earnings remittances due to the U.S. Treasury8

       811

        20

       336

        16

        38

        57

       100

        34

         9

        11

        13

        60

       116

Treasury contributions to credit facilities9

    17,940

    13,891

     4,049

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     7,015

      -858

     2,325

       261

       317

       887

     1,693

       625

       210

       178

       234

       385

       759

Total liabilities

 8,871,849

   200,833

 4,819,215

   177,675

   280,066

   558,959

   588,478

   583,733

   142,124

    69,627

   129,150

   457,939

   864,049

Capital

Capital paid in

    34,919

     1,474

    12,172

     1,245

     3,308

     7,081

     1,115

     1,254

       769

       235

       364

       915

     4,990

Surplus

     6,785

       292

     2,363

       252

       663

     1,361

       221

       257

       137

        34

        70

       163

       973

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 8,913,553

   202,599

 4,833,750

   179,171

   284,037

   567,401

   589,814

   585,244

   143,029

    69,896

   129,584

   459,017

   870,012

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 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.

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 each Federal Reserve Bank's allotted surplus cap.

9.

Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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 April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), 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 and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility. The assets of the CCF 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 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 CPFF II LLC, CCF LLC, 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).

Federal Reserve notes outstanding

 2,533,082

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

   301,760

Federal Reserve notes to be collateralized

 2,231,322

Collateral held against Federal Reserve notes

 2,231,322

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,215,085

Other assets pledged

         0

Memo:

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

 8,475,609

Less: Face value of securities under reverse repurchase agreements

 2,687,629

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

 5,787,979

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.