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

 7,979,645

-   23,338

-  793,278

 7,966,141

Securities held outright1

 7,449,568

-   15,045

-  933,277

 7,440,211

U.S. Treasury securities

 4,959,046

-    4,964

-  713,721

 4,958,138

Bills2

   245,123

-    2,759

-   68,525

   244,137

Notes and bonds, nominal2

 4,237,898

-    2,417

-  645,390

 4,237,898

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

   365,380

Inflation compensation3

   110,644

+      211

+   10,574

   110,722

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,488,175

-   10,081

-  219,556

 2,479,726

Unamortized premiums on securities held outright5

   287,654

-    1,067

-   36,876

   287,252

Unamortized discounts on securities held outright5

   -26,665

+      499

-       23

   -26,560

Repurchase agreements6

         1

-        1

+        1

         2

Foreign official

         0

         0

         0

         0

Others

         1

-        1

+        1

         2

Loans

   200,603

-    8,199

+  180,009

   198,060

Primary credit

     3,250

+       67

-    3,207

     3,193

Secondary credit

         0

         0

         0

         0

Seasonal credit

        91

+       13

+       42

        91

Paycheck Protection Program Liquidity Facility

     5,225

-      187

-    8,864

     5,178

Bank Term Funding Program

   107,612

-      146

+  107,612

   107,715

Other credit extensions7

    84,426

-    7,945

+   84,426

    81,883

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

    19,330

-       19

-    6,359

    19,352

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,627

+        3

+       65

     5,629

Net portfolio holdings of TALF II LLC8

     1,219

+        1

-      929

     1,220

Float

      -223

-       20

-        8

      -430

Central bank liquidity swaps9

       238

-        9

+       22

       238

Other Federal Reserve assets10

    42,295

+      521

+    4,099

    41,167

Foreign currency denominated assets11

    17,889

-       99

+      946

    17,731

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,420

+       14

+      660

    52,420

Total factors supplying reserve funds

 8,066,196

-   23,422

-  791,671

 8,052,533

Currency in circulation12

 2,323,484

-    2,716

+   46,208

 2,324,023

Reverse repurchase agreements13

 1,746,176

-      511

-  883,547

 1,755,109

Foreign official and international accounts

   309,711

+    4,436

+   10,020

   312,304

Others

 1,436,465

-    4,947

-  893,568

 1,442,805

Treasury cash holdings

       336

-        8

+      233

       339

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

   866,830

+   47,178

-   60,167

   845,484

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   681,143

+   40,847

-    8,426

   672,142

Foreign official

     9,687

-        1

+    2,251

     9,687

Other14

   176,000

+    6,332

-   53,992

   163,655

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -54,314

-    6,041

-   99,543

   -54,283

Total factors, other than reserve balances,
absorbing reserve funds

 4,895,872

+   37,904

-1,001,397

 4,884,031

Reserve balances with Federal Reserve Banks

 3,170,324

-   61,325

+  209,726

 3,168,502

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

 3,436,351

+    2,019

+   69,950

 3,433,052

Marketable U.S. Treasury securities1

 3,003,647

+    3,652

+   44,138

 3,000,290

Federal agency debt and mortgage-backed securities2

   349,826

-    1,604

+   27,509

   349,565

Other securities3

    82,877

-       29

-    1,698

    83,196

Securities lent to dealers

    40,693

+    3,934

-    7,008

    40,855

Overnight facility4

    40,693

+    3,934

-    7,008

    40,855

U.S. Treasury securities

    40,693

+    3,934

-    6,994

    40,855

Federal agency debt securities

         0

         0

-       14

         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

    83,780

     4,458

   104,648

     5,174

         0

...

   198,060

U.S. Treasury securities2

Holdings

    62,350

   245,934

   613,336

 1,706,178

   826,774

 1,503,565

 4,958,138

Weekly changes

+    6,400

-    8,381

-      815

+       91

+       48

+       58

-    2,597

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

         0

        19

     5,451

    38,105

 2,436,151

 2,479,726

Weekly changes

         0

-        1

-        3

-      149

-    1,007

-   13,574

-   14,734

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     9,566

...

...

     9,566

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

     2,907

         0

         0

...

...

     2,907

Loans held by TALF II LLC7

        53

       336

         0

         0

...

...

       389

Repurchase agreements8

         2

         0

...

...

...

...

         2

Central bank liquidity swaps9

       238

         0

         0

         0

         0

         0

       238

Reverse repurchase agreements8

 1,755,109

         0

...

...

...

...

 1,755,109

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

 2,479,726

Residential mortgage-backed securities

 2,471,407

Commercial mortgage-backed securities

     8,320

Commitments to buy mortgage-backed securities2

        75

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)

     8,739

     8,663

    10,688

    19,352

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,722

     5,629

TALF II LLC

       394

       389

       831

     1,220

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

     1,468

+       15

+      246

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

 7,898,965

-   21,008

-  791,403

Securities held outright1

 7,440,211

-   17,330

-  932,142

U.S. Treasury securities

 4,958,138

-    2,597

-  713,710

Bills2

   244,137

-    2,809

-   68,597

Notes and bonds, nominal2

 4,237,898

         0

-  645,390

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

Inflation compensation3

   110,722

+      212

+   10,657

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,479,726

-   14,734

-  218,432

Unamortized premiums on securities held outright5

   287,252

-      898

-   36,784

Unamortized discounts on securities held outright5

   -26,560

+      261

+       20

Repurchase agreements6

         2

+        2

+        1

Loans7

   198,060

-    3,042

+  177,502

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

    19,352

+       26

-    6,352

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,629

+        3

+       66

Net portfolio holdings of TALF II LLC8

     1,220

+        1

-      929

Items in process of collection

(0)

        58

         0

-       13

Bank premises

       442

+        3

-      178

Central bank liquidity swaps9

       238

-        9

+       22

Foreign currency denominated assets10

    17,731

-      293

+      838

Other assets11

    40,725

-      765

+    4,200

Total assets

(0)

 8,002,064

-   22,026

-  793,503

Liabilities

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

 2,273,406

-    1,168

+   44,757

Reverse repurchase agreements12

 1,755,109

-   49,598

-  883,180

Deposits

(0)

 4,013,986

+   34,819

+  149,242

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,168,502

+   24,090

+  185,294

U.S. Treasury, General Account

   672,142

+   10,425

+   10,222

Foreign official

     9,687

-        1

+    2,251

Other13

(0)

   163,655

+      305

-   48,525

Deferred availability cash items

(0)

       487

+      225

-      287

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

   -97,013

-    6,305

-  100,337

Total liabilities

(0)

 7,959,334

-   22,026

-  794,386

Capital accounts

Capital paid in

    35,945

         0

+      883

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,730

         0

+      883

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

     1,468

        44

        46

       132

        59

       192

       112

       258

        32

        48

        99

       183

       261

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

 7,898,965

   152,987

 4,326,267

   129,219

   240,247

   542,314

   528,888

   485,836

   122,625

    59,778

   108,437

   388,567

   813,801

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    19,352

    19,352

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,629

         0

     5,629

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,220

         0

     1,220

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       238

        10

        85

         9

        22

        48

         7

         8

         5

         2

         3

         5

        34

Foreign currency denominated

assets4

    17,731

       763

     6,309

       637

     1,672

     3,590

       532

       617

       399

       112

       188

       374

     2,537

Other assets5

    41,225

       891

    18,770

       727

     1,211

     2,984

     3,888

     2,308

       765

       554

       933

     2,049

     6,145

Interdistrict settlement account

         0

-    5,148

-  105,480

-    9,199

+   42,028

+  195,190

-    4,620

-   54,718

-    7,044

-    2,694

-   14,263

-   42,470

+    8,420

Total assets

 8,002,064

   169,456

 4,258,019

   122,049

   285,991

   745,505

   531,094

   435,415

   117,260

    58,064

    95,849

   349,998

   833,363

Liabilities

Federal Reserve notes, net

 2,273,406

    79,252

   722,808

    53,041

   111,794

   166,156

   353,035

   124,720

    72,568

    34,250

    48,781

   189,644

   317,358

Reverse repurchase agreements6

 1,755,109

    33,908

   980,141

    28,927

    53,935

   122,137

   118,898

   109,407

    26,255

    11,900

    22,692

    85,574

   161,334

Deposits

 4,013,986

    45,709

 2,602,028

    39,374

   119,105

   462,915

    56,954

   206,903

    17,473

    11,726

    24,151

    75,220

   352,428

Depository institutions

 3,168,502

    45,647

 1,865,713

    39,372

   119,071

   462,579

    56,926

    98,537

    17,461

    11,617

    24,120

    75,059

   352,400

U.S. Treasury, General Account

   672,142

         0

   672,142

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,687

         2

     9,661

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   163,655

        60

    54,512

         0

        30

       329

        27

   108,365

        11

       109

        30

       160

        22

Earnings remittances due to the U.S. Treasury8

  -105,146

    -1,984

   -68,923

      -978

    -3,598

   -15,293

       -12

    -8,108

      -134

      -196

      -419

    -1,671

    -3,829

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

     8,621

     1,079

     3,420

       173

       281

     1,103

       801

       461

       134

       114

       180

       229

       645

Total liabilities

 7,959,334

   167,648

 4,243,147

   120,536

   281,517

   737,018

   529,676

   433,384

   116,296

    57,795

    95,384

   348,995

   827,936

Capital

Capital paid in

    35,945

     1,516

    12,458

     1,269

     3,834

     7,113

     1,215

     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

 8,002,064

   169,456

 4,258,019

   122,049

   285,991

   745,505

   531,094

   435,415

   117,260

    58,064

    95,849

   349,998

   833,363

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

 2,693,900

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

   420,494

Federal Reserve notes to be collateralized

 2,273,406

Collateral held against Federal Reserve notes

 2,273,406

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,257,169

Other assets pledged

         0

Memo:

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

 7,440,213

Less: Face value of securities under reverse repurchase agreements

 2,033,218

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

 5,406,995

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.