FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, October 6, 2022

FEDERAL RESERVE statistical release

H.4.1

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

October 6, 2022

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Oct 5, 2022
	Week ended Oct 5, 2022	Change from week ended
	Week ended Oct 5, 2022	Sep 28, 2022	Oct 6, 2021
Reserve Bank credit	8,728,260	- 44,663	+ 312,272	8,724,213
Securities held outright1	8,339,991	- 42,854	+ 403,009	8,334,431
U.S. Treasury securities	5,639,486	- 33,281	+ 199,590	5,633,926
Bills2	309,404	- 4,244	- 16,640	308,699
Notes and bonds, nominal2	4,854,269	- 29,019	+ 171,273	4,849,432
Notes and bonds, inflation-indexed2	375,761	0	+ 9,606	375,761
Inflation compensation3	100,052	- 18	+ 35,351	100,034
Federal agency debt securities2	2,347	0	0	2,347
Mortgage-backed securities4	2,698,158	- 9,573	+ 203,419	2,698,158
Unamortized premiums on securities held outright5	323,695	- 835	- 31,092	323,367
Unamortized discounts on securities held outright5	-26,656	- 14	- 10,865	-26,580
Repurchase agreements6	0	0	0	0
Foreign official	0	0	0	0
Others	0	0	0	0
Loans	21,079	+ 485	- 38,065	21,415
Primary credit	7,093	+ 636	+ 6,674	7,511
Secondary credit	0	0	0	0
Seasonal credit	58	+ 9	+ 32	58
Primary Dealer Credit Facility	0	0	0	0
Paycheck Protection Program Liquidity Facility	13,929	- 160	- 44,771	13,847
Other credit extensions	0	0	0	0
Net portfolio holdings of Corporate Credit Facilities LLC7	0	0	- 515	0
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7	25,711	+ 22	- 4,740	25,722
Net portfolio holdings of Municipal Liquidity Facility LLC7	5,564	+ 2	- 4,212	5,565
Net portfolio holdings of TALF II LLC7	2,137	- 11	- 2,358	2,136
Float	-352	- 137	- 155	-213
Central bank liquidity swaps8	300	+ 84	- 28	300
Other Federal Reserve assets9	36,790	- 1,406	+ 1,291	38,070
Foreign currency denominated assets10	17,080	+ 137	- 3,846	17,068
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding11	51,342	+ 14	+ 668	51,342

Total factors supplying reserve funds	8,812,923	- 44,511	+ 309,094	8,808,864

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

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Oct 5, 2022
	Week ended Oct 5, 2022	Change from week ended
	Week ended Oct 5, 2022	Sep 28, 2022	Oct 6, 2021
Currency in circulation11	2,280,387	+ 3,544	+ 82,086	2,283,376
Reverse repurchase agreements12	2,635,398	+ 5,675	+ 909,039	2,544,845
Foreign official and international accounts	297,337	- 2,354	+ 5,890	314,046
Others	2,338,062	+ 8,029	+ 903,150	2,230,799
Treasury cash holdings	102	- 1	+ 51	98
Deposits with F.R. Banks, other than reserve balances	860,432	- 66,565	+ 485,315	839,881
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	633,939	- 55,630	+ 498,357	622,131
Foreign official	7,436	0	+ 1,936	7,434
Other13	219,058	- 10,934	- 14,977	210,316
Treasury contributions to credit facilities14	17,940	0	- 8,457	17,940
Other liabilities and capital15	45,790	+ 561	- 1,764	46,274

Total factors, other than reserve balances, absorbing reserve funds	5,840,049	- 56,787	+1,466,270	5,732,414

Reserve balances with Federal Reserve Banks	2,972,874	+ 12,276	-1,157,176	3,076,450

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 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.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

H.4.1

1A. Memorandum Items

Millions of dollars

Memorandum item	Averages of daily figures			Wednesday Oct 5, 2022
	Week ended Oct 5, 2022	Change from week ended
	Week ended Oct 5, 2022	Sep 28, 2022	Oct 6, 2021
Securities held in custody for foreign official and international accounts	3,324,339	- 42,062	- 153,647	3,317,655
Marketable U.S. Treasury securities1	2,917,458	- 42,051	- 143,902	2,911,048
Federal agency debt and mortgage-backed securities2	322,164	- 153	- 3,506	322,155
Other securities3	84,717	+ 142	- 6,238	84,453
Securities lent to dealers	48,520	+ 819	+ 7,615	45,034
Overnight facility4	48,520	+ 819	+ 7,615	45,034
U.S. Treasury securities	48,503	+ 816	+ 7,598	45,024
Federal agency debt securities	17	+ 3	+ 17	10

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, October 5, 2022

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans1	2,057	5,520	0	13,838	0	...	21,415
U.S. Treasury securities2
Holdings	71,778	347,710	787,632	1,979,974	991,982	1,454,849	5,633,926
Weekly changes	- 20,577	+ 31,066	- 25,899	- 13,566	- 8,938	- 8	- 37,922
Federal agency debt securities3
Holdings	0	0	0	0	2,347	0	2,347
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities4
Holdings	0	2	55	3,457	54,494	2,640,150	2,698,158
Weekly changes	0	+ 1	+ 9	+ 206	- 53	- 163	0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program)5	0	0	0	12,780	...	...	12,780
Municipal notes held by Municipal
Liquidity Facility LLC6	0	0	0	2,907	...	...	2,907
Loans held by TALF II LLC7	0	0	484	574	...	...	1,058
Repurchase agreements8	0	0	...	...	...	...	0
Central bank liquidity swaps9	300	0	0	0	0	0	300
Reverse repurchase agreements8	2,544,845	0	...	...	...	...	2,544,845
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) 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.

Account name	Wednesday
Mortgage-backed securities held outright1	2,698,158
Residential mortgage-backed securities	2,689,557
Commercial mortgage-backed securities	8,601

Commitments to buy mortgage-backed securities2	3,165
Commitments to sell mortgage-backed securities2	0

Cash and cash equivalents3	0

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:	Wednesday Oct 5, 2022
		Net portfolio holdings of
		Credit Facilities LLCs
	Outstanding
	principal	Outstanding
	amount	amount of	Treasury
	of loan	facility	contributions
	extended to	asset	and
	the LLC1	purchases2	other assets3	Total
MS Facilities LLC (Main Street Lending Program)	12,642	10,994	14,729	25,722
Municipal Liquidity Facility LLC	2,907	2,907	2,658	5,565
TALF II LLC	1,096	1,058	1,078	2,136

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

1.	Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity.
2.	Outstanding amount of facility asset purchases:
	a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses
	updated as of June 30, 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.

H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Oct 5, 2022	Change since
			Wednesday	Wednesday
			Sep 28, 2022	Oct 6, 2021
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,216	- 6	+ 8
Securities, unamortized premiums and discounts, repurchase agreements, and loans		8,652,633	- 37,735	+ 309,216
Securities held outright1		8,334,431	- 37,922	+ 388,058
U.S. Treasury securities		5,633,926	- 37,922	+ 184,649
Bills2		308,699	- 4,035	- 17,345
Notes and bonds, nominal2		4,849,432	- 33,856	+ 157,464
Notes and bonds, inflation-indexed2		375,761	0	+ 9,320
Inflation compensation3		100,034	- 31	+ 35,210
Federal agency debt securities2		2,347	0	0
Mortgage-backed securities4		2,698,158	0	+ 203,409
Unamortized premiums on securities held outright5		323,367	- 669	- 31,440
Unamortized discounts on securities held outright5		-26,580	0	- 10,689
Repurchase agreements6		0	- 1	0
Loans7		21,415	+ 857	- 36,713
Net portfolio holdings of Corporate Credit Facilities LLC8		0	0	- 515
Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8		25,722	+ 18	- 4,735
Net portfolio holdings of Municipal Liquidity Facility LLC8		5,565	+ 2	- 4,212
Net portfolio holdings of TALF II LLC8		2,136	- 13	- 2,359
Items in process of collection	(0)	105	+ 34	+ 49
Bank premises		613	- 7	- 926
Central bank liquidity swaps9		300	+ 84	- 28
Foreign currency denominated assets10		17,068	+ 175	- 3,778
Other assets11		37,458	+ 933	+ 2,301

Total assets	(0)	8,759,053	- 36,514	+ 295,021

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

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Oct 5, 2022	Change since
			Wednesday	Wednesday
			Sep 28, 2022	Oct 6, 2021
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,233,344	+ 4,695	+ 81,846
Reverse repurchase agreements12		2,544,845	- 93,444	+ 807,055
Deposits	(0)	3,916,332	+ 51,588	- 584,154
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,076,450	+ 93,242	-1,091,094
U.S. Treasury, General Account		622,131	- 39,789	+ 526,277
Foreign official		7,434	- 2	+ 971
Other13	(0)	210,316	- 1,864	- 20,308
Deferred availability cash items	(0)	318	- 456	+ 146
Treasury contributions to credit facilities14		17,940	0	- 8,457
Other liabilities and accrued dividends15		4,416	+ 1,092	- 3,421

Total liabilities	(0)	8,717,194	- 36,526	+ 293,014

Capital accounts
Capital paid in		35,073	+ 11	+ 2,006
Surplus		6,785	0	0
Other capital accounts		0	0	0

Total capital		41,858	+ 11	+ 2,006

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, 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.

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, October 5, 2022

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	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	544	5,271	537	763	1,203	2,247	1,093	461	263	440	1,279	2,136
Coin	1,216	18	25	109	49	185	86	226	26	36	88	153	215
Securities, unamortized premiums and discounts, repurchase agreements, and loans1	8,652,633	172,917	4,428,355	198,316	347,448	601,514	564,967	590,442	135,610	66,331	134,892	442,664	969,176
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program)2	25,722	25,722	0	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of Municipal Liquidity Facility LLC2	5,565	0	5,565	0	0	0	0	0	0	0	0	0	0
Net portfolio holdings of TALF II LLC2	2,136	0	2,136	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps3	300	13	104	11	29	60	10	11	6	2	3	7	43
Foreign currency denominated
assets4	17,068	735	5,946	633	1,668	3,422	555	647	344	86	176	410	2,447
Other assets5	38,176	861	18,379	959	1,571	2,968	2,585	2,558	727	466	884	2,027	4,191
Interdistrict settlement account	0	- 3,893	+ 318,744	- 37,700	- 47,452	- 23,206	+ 10,628	- 56,120	- 9,881	- 2,150	- 18,913	- 27,760	- 102,298

Total assets	8,759,053	196,918	4,784,526	162,865	304,076	586,147	581,078	538,857	127,294	65,034	117,569	418,780	875,910

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, October 5, 2022 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	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	2,233,344	78,422	706,765	54,929	106,573	155,000	347,640	122,258	70,183	33,596	52,355	192,107	313,514
Reverse repurchase agreements6	2,544,845	50,948	1,304,746	58,464	101,623	177,341	166,500	173,965	39,968	18,044	39,725	130,473	283,048
Deposits	3,916,332	52,484	2,752,512	47,753	91,664	244,869	64,881	240,713	16,021	12,975	24,835	94,802	272,823
Depository institutions	3,076,450	52,476	2,074,347	47,751	91,627	243,974	64,845	80,482	16,011	12,845	24,813	94,486	272,792
U.S. Treasury, General Account	622,131	0	622,131	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	210,316	6	48,626	0	33	887	35	160,230	9	130	21	315	25
Earnings remittances due to the U.S. Treasury8	-2,913	-59	-2,079	-28	-77	-359	39	-213	11	-6	4	-4	-144
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	7,647	-571	3,920	238	315	849	690	623	194	166	219	321	683

Total liabilities	8,717,194	195,115	4,769,913	161,356	300,099	577,701	579,752	537,347	126,376	64,776	117,137	417,699	869,924

Capital
Capital paid in	35,073	1,511	12,250	1,258	3,313	7,086	1,105	1,253	781	224	361	918	5,013
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	8,759,053	196,918	4,784,526	162,865	304,076	586,147	581,078	538,857	127,294	65,034	117,569	418,780	875,910

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, October 5, 2022 (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 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 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 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 and collateral	Wednesday
Federal Reserve notes and collateral	Oct 5, 2022
Federal Reserve notes outstanding	2,586,515
Less: Notes held by F.R. Banks not subject to collateralization	353,172
Federal Reserve notes to be collateralized	2,233,344
Collateral held against Federal Reserve notes	2,233,344
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2	2,217,107
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2	8,334,431
Less: Face value of securities under reverse repurchase agreements	2,783,706
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	5,550,725

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.

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.