Board of Governors of the Federal Reserve System

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

Reserve Bank credit

 8,599,167

-   96,859

-  300,285

 8,595,344

Securities held outright1

 7,883,779

-   48,337

-  594,606

 7,877,114

U.S. Treasury securities

 5,286,952

-   42,191

-  473,732

 5,280,287

Bills2

   280,966

-    1,031

-   45,078

   280,966

Notes and bonds, nominal2

 4,524,773

-   41,859

-  439,106

 4,517,796

Notes and bonds, inflation-indexed2

   377,024

         0

-   13,816

   377,024

Inflation compensation3

   104,189

+      699

+   24,268

   104,500

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,594,480

-    6,146

-  120,875

 2,594,480

Unamortized premiums on securities held outright5

   304,673

-      638

-   39,650

   304,395

Unamortized discounts on securities held outright5

   -27,483

+       33

-    5,852

   -27,362

Repurchase agreements6

    44,286

-   15,001

+   44,285

    40,000

Foreign official

    44,286

-   15,000

+   44,285

    40,000

Others

         0

-        2

         0

         0

Loans

   326,350

-   31,564

+  302,510

   332,449

Primary credit

    71,038

-   33,861

+   70,511

    69,705

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

-        4

         0

         0

Paycheck Protection Program Liquidity Facility

     9,266

-    1,001

-   14,047

     9,115

Bank Term Funding Program

    68,156

+    5,511

+   68,156

    79,021

Other credit extensions7

   177,889

-    2,211

+  177,889

   174,609

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

    22,312

+       27

-    6,556

    22,326

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,603

+        3

-    1,050

     5,604

Net portfolio holdings of TALF II LLC8

     1,926

-       18

-      585

     1,923

Float

      -382

-      152

-      172

      -516

Central bank liquidity swaps9

       555

-       35

+      189

       478

Other Federal Reserve assets10

    37,549

-    1,176

+    1,203

    38,932

Foreign currency denominated assets11

    18,898

+       94

-      583

    18,935

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    51,653

+       14

+      728

    51,653

Total factors supplying reserve funds

 8,685,959

-   96,752

-  300,140

 8,682,173

Currency in circulation12

 2,323,278

+    1,995

+   54,138

 2,324,353

Reverse repurchase agreements13

 2,658,551

+   61,812

+  695,764

 2,599,403

Foreign official and international accounts

   361,346

-    5,954

+  113,616

   356,392

Others

 2,297,206

+   67,767

+  582,149

 2,243,011

Treasury cash holdings

       167

+       15

+       92

       167

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

   390,615

-   15,679

-  460,096

   354,971

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   168,793

-   14,784

-  405,658

   140,688

Foreign official

     9,645

+      206

+    2,146

     9,681

Other14

   212,176

-    1,102

-   56,584

   204,603

Treasury contributions to credit facilities15

    15,347

         0

-    5,911

    15,347

Other liabilities and capital16

     5,943

+      638

-   42,002

     6,580

Total factors, other than reserve balances,
absorbing reserve funds

 5,393,901

+   48,781

+  241,985

 5,300,823

Reserve balances with Federal Reserve Banks

 3,292,058

-  145,534

-  542,125

 3,381,350

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 loans that were extended to depository institutions established by the Federal Deposit Insurance Corporation (FDIC). The Federal Reserve Banks' loans to these depository institutions are secured by 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 billion.

16.

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

Securities held in custody for foreign official and international accounts

 3,319,217

+   25,309

-  139,706

 3,328,563

Marketable U.S. Treasury securities1

 2,898,066

+   25,359

-  151,374

 2,907,392

Federal agency debt and mortgage-backed securities2

   340,097

+      243

+   12,905

   340,167

Other securities3

    81,054

-      293

-    1,238

    81,004

Securities lent to dealers

    50,032

-       12

+    4,554

    45,871

Overnight facility4

    50,032

-       12

+    4,554

    45,871

U.S. Treasury securities

    50,023

-       21

+    4,545

    45,854

Federal agency debt securities

         9

+        9

+        9

        17

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

   179,819

    65,283

    78,238

     9,109

         0

...

   332,449

U.S. Treasury securities2

Holdings

    67,381

   353,015

   645,398

 1,842,963

   892,571

 1,478,959

 5,280,287

Weekly changes

-   22,926

+    9,200

+    3,525

-   22,302

-   16,698

+      184

-   49,016

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

         3

        23

     7,995

    46,826

 2,539,633

 2,594,480

Weekly changes

         0

+        1

+        4

+      210

-       23

-      192

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    11,209

...

...

    11,209

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

       927

         0

...

...

       927

Repurchase agreements8

    40,000

         0

...

...

...

...

    40,000

Central bank liquidity swaps9

       478

         0

         0

         0

         0

         0

       478

Reverse repurchase agreements8

 2,599,403

         0

...

...

...

...

 2,599,403

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), 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. Additionally, the Within 15 days category includes loans to FDIC-established depository institutions that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, collateral securing the loans, and the FDIC repayment guarantees. 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

 2,594,480

Residential mortgage-backed securities

 2,586,046

Commercial mortgage-backed securities

     8,434

Commitments to buy mortgage-backed securities2

       106

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.

MS Facilities LLC (Main Street Lending Program)

    10,514

    10,166

    12,161

    22,326

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,697

     5,604

TALF II LLC

       958

       927

       996

     1,923

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 December 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

     1,298

+        9

+        4

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

 8,526,597

-   74,738

-  298,133

Securities held outright1

 7,877,114

-   49,017

-  601,640

U.S. Treasury securities

 5,280,287

-   49,016

-  480,765

Bills2

   280,966

-      874

-   45,078

Notes and bonds, nominal2

 4,517,796

-   48,836

-  446,083

Notes and bonds, inflation-indexed2

   377,024

         0

-   13,816

Inflation compensation3

   104,500

+      694

+   24,211

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,594,480

         0

-  120,875

Unamortized premiums on securities held outright5

   304,395

-      563

-   39,695

Unamortized discounts on securities held outright5

   -27,362

+       59

-    5,751

Repurchase agreements6

    40,000

-   15,000

+   39,997

Loans7

   332,449

-   10,218

+  308,955

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

    22,326

+       22

-    6,550

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,604

+        2

-    1,050

Net portfolio holdings of TALF II LLC8

     1,923

-       23

-      588

Items in process of collection

(0)

        54

+        4

-        2

Bank premises

       453

-       21

-      657

Central bank liquidity swaps9

       478

-      107

+      112

Foreign currency denominated assets10

    18,935

+      190

-      368

Other assets11

    38,479

+    1,103

+    2,023

Total assets

(0)

 8,632,384

-   73,558

-  305,208

Liabilities

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

 2,274,160

+      768

+   52,822

Reverse repurchase agreements12

 2,599,403

-   33,139

+  623,765

Deposits

(0)

 3,736,322

-   42,442

-  936,238

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,381,351

-   20,449

-  468,521

U.S. Treasury, General Account

   140,688

-   22,070

-  404,896

Foreign official

     9,681

+      245

+    2,247

Other13

(0)

   204,603

-      167

-   65,066

Deferred availability cash items

(0)

       571

+       47

+      334

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

   -35,622

+    1,206

-   41,023

Total liabilities

(0)

 8,590,182

-   73,558

-  306,250

Capital accounts

Capital paid in

    35,417

         0

+    1,041

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,202

         0

+    1,041

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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

     1,298

        21

        38

       116

        43

       190

        85

       243

        26

        38

        84

       157

       255

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

 8,526,597

   165,521

 4,259,681

   188,929

   330,221

   573,455

   538,618

   562,191

   130,962

    65,119

   133,131

   427,284

 1,151,483

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    22,326

    22,326

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,604

         0

     5,604

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,923

         0

     1,923

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       478

        21

       170

        17

        45

        97

        14

        17

        11

         3

         5

        10

        68

Foreign currency denominated

assets4

    18,935

       815

     6,738

       680

     1,785

     3,834

       568

       659

       426

       120

       201

       399

     2,709

Other assets5

    38,986

       879

    19,090

       949

     1,550

     2,972

     2,495

     2,528

       705

       483

       892

     2,001

     4,442

Interdistrict settlement account

         0

+    5,776

-   19,939

-   35,813

+      984

+  250,568

+   48,155

-   22,379

-    1,812

-      649

-   18,623

+    2,914

-  209,182

Total assets

 8,632,384

   195,903

 4,278,576

   155,416

   335,392

   832,319

   592,182

   544,352

   130,779

    65,377

   116,131

   434,045

   951,912

Liabilities

Federal Reserve notes, net

 2,274,160

    78,159

   717,743

    52,959

   111,944

   174,692

   355,013

   125,117

    68,746

    32,546

    48,815

   190,295

   318,132

Reverse repurchase agreements6

 2,599,403

    52,040

 1,332,718

    59,717

   103,802

   181,143

   170,070

   177,695

    40,824

    18,431

    40,577

   133,270

   289,116

Deposits

 3,736,322

    52,711

 2,236,885

    41,269

   116,252

   471,397

    64,876

   242,434

    20,126

    14,097

    26,218

   109,979

   340,079

Depository institutions

 3,381,351

    52,706

 2,028,858

    41,267

   116,221

   470,896

    64,847

    96,355

    20,115

    14,012

    26,188

   109,834

   340,052

U.S. Treasury, General Account

   140,688

         0

   140,688

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,681

         2

     9,655

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   204,603

         3

    57,685

         0

        28

       492

        28

   146,078

        11

        84

        30

       144

        21

Earnings remittances due to the U.S. Treasury8

   -46,205

      -871

   -32,724

      -250

      -945

    -4,721

         8

    -3,615

       -36

       -89

      -127

      -652

    -2,184

Treasury contributions to credit facilities9

    15,347

    11,453

     3,894

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    11,154

       613

     5,199

       215

       381

     1,328

       914

       722

       161

       125

       193

       362

       940

Total liabilities

 8,590,182

   194,105

 4,263,717

   153,910

   331,434

   823,839

   590,881

   542,353

   129,821

    65,110

   115,676

   433,255

   946,083

Capital

Capital paid in

    35,417

     1,507

    12,446

     1,262

     3,319

     7,106

     1,098

     1,763

       805

       224

       383

       648

     4,858

Surplus

     6,785

       292

     2,414

       244

       640

     1,374

       203

       236

       153

        43

        72

       143

       971

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 8,632,384

   195,903

 4,278,576

   155,416

   335,392

   832,319

   592,182

   544,352

   130,779

    65,377

   116,131

   434,045

   951,912

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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).

Federal Reserve notes outstanding

 2,633,451

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

   359,291

Federal Reserve notes to be collateralized

 2,274,160

Collateral held against Federal Reserve notes

 2,274,160

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,257,923

Other assets pledged

         0

Memo:

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

 7,917,114

Less: Face value of securities under reverse repurchase agreements

 2,705,688

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

 5,211,426

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.