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

 8,062,204

-    3,107

-  726,527

 8,062,770

Securities held outright1

 7,484,586

-    5,938

-  916,185

 7,483,696

U.S. Treasury securities

 4,983,369

-    5,938

-  704,445

 4,982,479

Bills2

   252,964

-    6,097

-   65,918

   251,982

Notes and bonds, nominal2

 4,254,804

-       39

-  638,270

 4,254,818

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

   365,380

Inflation compensation3

   110,221

+      199

+   10,125

   110,299

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,498,870

         0

-  211,741

 2,498,870

Unamortized premiums on securities held outright5

   289,343

-      478

-   36,890

   289,154

Unamortized discounts on securities held outright5

   -27,431

+      132

-      621

   -27,333

Repurchase agreements6

         6

+        3

-        3

         0

Foreign official

         4

+        3

+        4

         0

Others

         2

         0

-        7

         0

Loans

   249,319

-      242

+  229,543

   249,615

Primary credit

     2,179

+      130

-    3,022

     2,698

Secondary credit

         0

         0

         0

         0

Seasonal credit

        77

+        3

+       31

        78

Paycheck Protection Program Liquidity Facility

     5,491

-      143

-    9,038

     5,477

Bank Term Funding Program

   107,866

+      208

+  107,866

   107,993

Other credit extensions7

   133,706

-      441

+  133,706

   133,369

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

    19,560

+       20

-    6,392

    19,579

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,621

+        3

+       63

     5,623

Net portfolio holdings of TALF II LLC8

     1,217

+        2

-      928

     1,218

Float

      -174

+      130

-       21

      -222

Central bank liquidity swaps9

       230

-        2

+       27

       230

Other Federal Reserve assets10

    39,927

+    3,264

+    4,881

    41,210

Foreign currency denominated assets11

    18,041

-      109

+      721

    18,055

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,392

+       14

+    1,033

    52,392

Total factors supplying reserve funds

 8,148,878

-    3,202

-  724,773

 8,149,458

Currency in circulation12

 2,331,897

-    2,149

+   49,927

 2,329,820

Reverse repurchase agreements13

 1,825,162

-   65,094

-  660,327

 1,835,634

Foreign official and international accounts

   296,503

-    4,810

+   23,365

   289,409

Others

 1,528,659

-   60,283

-  683,691

 1,546,225

Treasury cash holdings

       343

+       14

+      245

       345

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

   692,253

+   42,006

-  114,443

   709,036

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   521,507

+   50,626

-   72,301

   537,364

Foreign official

     9,824

-       60

+    2,389

     9,689

Other14

   160,921

-    8,561

-   44,531

   161,983

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -49,594

-    6,147

-   96,125

   -49,261

Total factors, other than reserve balances,
absorbing reserve funds

 4,813,419

-   31,370

-  825,304

 4,838,933

Reserve balances with Federal Reserve Banks

 3,335,459

+   28,168

+  100,531

 3,310,525

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 $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 billion.

16.

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

Securities held in custody for foreign official and international accounts

 3,434,779

+    4,146

+   58,269

 3,435,593

Marketable U.S. Treasury securities1

 3,000,875

+    3,997

+   22,858

 3,001,665

Federal agency debt and mortgage-backed securities2

   351,106

-      221

+   36,852

   351,094

Other securities3

    82,799

+      371

-    1,441

    82,833

Securities lent to dealers

    41,650

-    1,304

-    6,623

    40,736

Overnight facility4

    41,650

-    1,304

-    6,623

    40,736

U.S. Treasury securities

    41,650

-    1,304

-    6,620

    40,736

Federal agency debt securities

         0

         0

-        3

         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

   135,400

     3,904

   104,838

     5,473

         0

...

   249,615

U.S. Treasury securities2

Holdings

    42,893

   273,167

   624,023

 1,712,269

   826,677

 1,503,449

 4,982,479

Weekly changes

+    1,016

-    6,777

-      405

+      115

+       48

+        8

-    5,992

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

         1

        22

     9,590

    42,291

 2,446,967

 2,498,870

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     9,774

...

...

     9,774

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       360

        33

         0

...

...

       393

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       230

         0

         0

         0

         0

         0

       230

Reverse repurchase agreements8

 1,835,634

         0

...

...

...

...

 1,835,634

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 outstanding loans to depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, pledged 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

 2,498,870

Residential mortgage-backed securities

 2,490,505

Commercial mortgage-backed securities

     8,365

Commitments to buy mortgage-backed securities2

       150

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)

     9,011

     8,824

    10,755

    19,579

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,716

     5,623

TALF II LLC

       394

       393

       824

     1,218

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, 2023.

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

     1,432

+       19

+      188

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

 7,995,132

-    6,041

-  732,664

Securities held outright1

 7,483,696

-    5,993

-  924,208

U.S. Treasury securities

 4,982,479

-    5,992

-  704,552

Bills2

   251,982

-    6,179

-   66,123

Notes and bonds, nominal2

 4,254,818

-       25

-  638,256

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

Inflation compensation3

   110,299

+      212

+   10,208

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,498,870

         0

-  219,656

Unamortized premiums on securities held outright5

   289,154

-      499

-   36,905

Unamortized discounts on securities held outright5

   -27,333

+      148

-      560

Repurchase agreements6

         0

-        6

         0

Loans7

   249,615

+      308

+  229,009

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

    19,579

+       23

-    6,390

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,623

+        2

+       64

Net portfolio holdings of TALF II LLC8

     1,218

+        2

-      928

Items in process of collection

(0)

        57

-       22

+        8

Bank premises

       439

+        3

-      167

Central bank liquidity swaps9

       230

-        2

+       27

Foreign currency denominated assets10

    18,055

+       38

+      773

Other assets11

    40,777

+    3,439

+    5,110

Total assets

(0)

 8,098,779

-    2,539

-  733,980

Liabilities

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

 2,279,202

-    5,221

+   48,371

Reverse repurchase agreements12

 1,835,634

-   64,244

-  691,055

Deposits

(0)

 4,019,567

+   73,227

+    9,763

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,310,531

+   20,056

+  151,834

U.S. Treasury, General Account

   537,364

+   55,812

-   80,633

Foreign official

     9,689

-      764

+    2,254

Other13

(0)

   161,983

-    1,878

-   63,692

Deferred availability cash items

(0)

       279

-      570

+       67

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

   -91,981

-    5,730

-   97,432

Total liabilities

(0)

 8,056,059

-    2,539

-  734,866

Capital accounts

Capital paid in

    35,935

         0

+      886

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,720

         0

+      886

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 $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 billion.

15.

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

Assets

Gold certificates and special drawing rights certificates

    16,237

       557

     5,175

       525

       752

     1,187

     2,287

     1,104

       479

       264

       452

     1,290

     2,165

Coin

     1,432

        42

        46

       131

        56

       187

       111

       255

        32

        45

        95

       178

       256

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

 7,995,132

   153,909

 4,354,632

   129,876

   241,700

   545,780

   531,635

   488,589

   123,166

    60,084

   109,082

   390,589

   866,090

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    19,579

    19,579

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,623

         0

     5,623

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,218

         0

     1,218

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       230

        10

        82

         8

        22

        47

         7

         8

         5

         1

         2

         5

        33

Foreign currency denominated

assets4

    18,055

       777

     6,425

       649

     1,703

     3,656

       541

       629

       406

       114

       192

       381

     2,584

Other assets5

    41,273

       866

    18,217

       705

     1,170

     2,917

     3,788

     2,229

       920

       564

       904

     1,973

     7,020

Interdistrict settlement account

         0

-      229

-  163,481

-    9,004

+   61,447

+  238,967

+      340

-   54,603

-    5,110

-    1,401

-   11,278

-   34,149

-   21,499

Total assets

 8,098,779

   175,510

 4,227,936

   122,890

   306,849

   792,739

   538,709

   438,211

   119,898

    59,671

    99,449

   360,267

   856,649

Liabilities

Federal Reserve notes, net

 2,279,202

    80,345

   722,725

    54,311

   112,457

   166,926

   353,286

   124,484

    72,857

    34,502

    49,290

   189,281

   318,736

Reverse repurchase agreements6

 1,835,634

    35,464

 1,025,110

    30,254

    56,410

   127,741

   124,353

   114,427

    27,460

    12,446

    23,733

    89,500

   168,737

Deposits

 4,019,567

    49,065

 2,524,079

    37,559

   136,593

   502,812

    59,111

   204,616

    18,606

    12,524

    26,181

    81,867

   366,557

Depository institutions

 3,310,531

    49,003

 1,922,937

    37,557

   136,562

   501,975

    59,083

    97,885

    18,593

    12,470

    26,151

    81,791

   366,524

U.S. Treasury, General Account

   537,364

         0

   537,364

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,689

         2

     9,663

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   161,983

        61

    54,115

         0

        27

       828

        26

   106,729

        12

        53

        30

        74

        28

Earnings remittances due to the U.S. Treasury8

  -100,128

    -1,892

   -65,958

      -914

    -3,374

   -14,371

       -14

    -7,807

      -124

      -185

      -397

    -1,621

    -3,471

Treasury contributions to credit facilities9

    13,358

     9,684

     3,674

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     8,426

     1,036

     3,437

       169

       290

     1,149

       558

       461

       135

       115

       177

       237

       663

Total liabilities

 8,056,059

   173,702

 4,213,067

   121,378

   302,375

   784,256

   537,294

   436,181

   118,934

    59,402

    98,984

   359,264

   851,222

Capital

Capital paid in

    35,935

     1,516

    12,455

     1,269

     3,834

     7,109

     1,212

     1,794

       812

       226

       393

       859

     4,456

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

 8,098,779

   175,510

 4,227,936

   122,890

   306,849

   792,739

   538,709

   438,211

   119,898

    59,671

    99,449

   360,267

   856,649

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 $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 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

 2,691,762

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

   412,561

Federal Reserve notes to be collateralized

 2,279,202

Collateral held against Federal Reserve notes

 2,279,202

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,262,965

Other assets pledged

         0

Memo:

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

 7,483,696

Less: Face value of securities under reverse repurchase agreements

 2,036,771

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

 5,446,925

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.