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

 7,914,740

-   29,791

-  810,137

 7,916,298

Securities held outright1

 7,410,631

-   14,716

-  920,306

 7,410,580

U.S. Treasury securities

 4,928,558

-   14,716

-  701,874

 4,928,507

Bills2

   236,354

-    2,386

-   68,878

   236,160

Notes and bonds, nominal2

 4,215,416

-   12,847

-  634,016

 4,215,416

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

   365,380

Inflation compensation3

   111,407

+      517

+   11,399

   111,550

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,479,726

         0

-  218,432

 2,479,726

Unamortized premiums on securities held outright5

   286,393

-      551

-   36,560

   286,240

Unamortized discounts on securities held outright5

   -26,585

-       76

+      202

   -26,511

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

   173,914

-   16,767

+  153,131

   174,564

Primary credit

     2,626

-      865

-    4,764

     2,580

Secondary credit

         0

         0

         0

         0

Seasonal credit

        67

-       11

+       24

        66

Paycheck Protection Program Liquidity Facility

     4,793

-      176

-    8,556

     4,777

Bank Term Funding Program

   108,019

+      278

+  108,019

   108,884

Other credit extensions7

    58,409

-   15,993

+   58,409

    58,257

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

    19,390

+       20

-    6,335

    19,409

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,632

+        2

+       66

     5,635

Net portfolio holdings of TALF II LLC8

     1,220

+        1

-      916

     1,221

Float

      -198

+      212

-       55

      -251

Central bank liquidity swaps9

       230

+        1

-    3,077

       230

Other Federal Reserve assets10

    44,112

+    2,082

+    3,712

    45,181

Foreign currency denominated assets11

    17,730

-       64

+      796

    17,751

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,448

+       14

+      479

    52,448

Total factors supplying reserve funds

 8,001,159

-   29,841

-  808,862

 8,002,738

Currency in circulation12

 2,328,106

+    3,957

+   40,765

 2,328,017

Reverse repurchase agreements13

 1,555,109

-  202,769

-  998,199

 1,529,752

Foreign official and international accounts

   289,281

-   13,982

-   33,986

   290,370

Others

 1,265,828

-  188,787

-  964,213

 1,239,382

Treasury cash holdings

       348

+        8

+      250

       358

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

   873,589

+   30,592

+   53,683

   873,644

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   709,160

+   41,151

+  100,858

   713,000

Foreign official

     9,687

-        1

+    2,035

     9,688

Other14

   154,743

-   10,557

-   49,209

   150,956

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -58,297

-    4,855

-  101,813

   -58,041

Total factors, other than reserve balances,
absorbing reserve funds

 4,712,214

-  173,066

-1,009,895

 4,687,088

Reserve balances with Federal Reserve Banks

 3,288,945

+  143,225

+  201,033

 3,315,650

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

 3,425,256

+      896

+  100,029

 3,426,922

Marketable U.S. Treasury securities1

 2,993,110

+    1,405

+   74,409

 2,994,863

Federal agency debt and mortgage-backed securities2

   349,586

+        9

+   27,432

   349,586

Other securities3

    82,560

-      517

-    1,812

    82,472

Securities lent to dealers

    38,408

-      424

-    5,001

    36,831

Overnight facility4

    38,408

-      424

-    5,001

    36,831

U.S. Treasury securities

    38,408

-      424

-    4,992

    36,831

Federal agency debt securities

         0

         0

-        9

         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

    59,655

     5,001

   105,135

     4,773

         0

...

   174,564

U.S. Treasury securities2

Holdings

    48,629

   264,135

   602,710

 1,690,875

   818,366

 1,503,793

 4,928,507

Weekly changes

-    5,130

-      362

+    3,149

+      203

+      108

+      129

-    1,903

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

     5,745

    37,845

 2,436,114

 2,479,726

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     9,366

...

...

     9,366

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

     2,907

         0

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       285

         0

         0

...

...

       285

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       230

         0

         0

         0

         0

         0

       230

Reverse repurchase agreements8

 1,529,752

         0

...

...

...

...

 1,529,752

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

       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)

     8,739

     8,463

    10,946

    19,409

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,728

     5,635

TALF II LLC

       393

       285

       936

     1,221

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

     1,462

-        8

+      254

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

 7,844,873

-    7,012

-  801,557

Securities held outright1

 7,410,580

-    1,903

-  919,766

U.S. Treasury securities

 4,928,507

-    1,903

-  701,334

Bills2

   236,160

-    2,373

-   68,492

Notes and bonds, nominal2

 4,215,416

         0

-  634,016

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

Inflation compensation3

   111,550

+      469

+   11,554

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,479,726

         0

-  218,432

Unamortized premiums on securities held outright5

   286,240

-      480

-   36,518

Unamortized discounts on securities held outright5

   -26,511

-      109

+      230

Repurchase agreements6

         0

         0

         0

Loans7

   174,564

-    4,520

+  154,497

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

    19,409

+       22

-    6,333

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,635

+        3

+       68

Net portfolio holdings of TALF II LLC8

     1,221

+        1

-      916

Items in process of collection

(0)

        55

-        8

-       73

Bank premises

       434

+        2

-      192

Central bank liquidity swaps9

       230

+        1

-    3,077

Foreign currency denominated assets10

    17,751

+       47

+      964

Other assets11

    44,748

+    3,224

+    3,949

Total assets

(0)

 7,952,054

-    3,728

-  806,915

Liabilities

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

 2,277,385

+    1,582

+   39,607

Reverse repurchase agreements12

 1,529,752

-  102,263

-1,050,595

Deposits

(0)

 4,189,294

+  102,266

+  310,110

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,315,650

+   74,943

+  225,342

U.S. Treasury, General Account

   713,000

+   34,041

+  129,487

Foreign official

     9,688

         0

+    2,253

Other13

(0)

   150,956

-    6,718

-   46,972

Deferred availability cash items

(0)

       306

-      352

-       16

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

  -100,772

-    4,960

-  102,300

Total liabilities

(0)

 7,909,324

-    3,727

-  807,774

Capital accounts

Capital paid in

    35,946

         0

+      860

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,731

         0

+      860

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

     1,462

        47

        45

       132

        57

       190

       109

       256

        31

        48

       100

       182

       265

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

 7,844,873

   152,420

 4,290,548

   128,702

   239,078

   540,616

   526,724

   483,951

   122,184

    59,546

   107,956

   386,955

   806,193

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    19,409

    19,409

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,635

         0

     5,635

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,221

         0

     1,221

         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

    17,751

       764

     6,317

       638

     1,674

     3,594

       532

       618

       400

       112

       188

       374

     2,540

Other assets5

    45,236

       986

    20,652

       800

     1,345

     3,299

     4,184

     2,588

       862

       624

     1,018

     2,281

     6,596

Interdistrict settlement account

         0

-    2,387

-   83,032

-   13,941

+   55,273

+  200,948

-   18,129

-   83,232

-   10,635

-    3,340

-   13,982

-   51,275

+   23,733

Total assets

 7,952,054

   171,806

 4,246,642

   116,864

   298,200

   749,881

   515,715

   405,292

   113,326

    57,256

    95,734

   339,813

   841,525

Liabilities

Federal Reserve notes, net

 2,277,385

    78,917

   724,254

    52,827

   111,826

   166,120

   353,958

   124,976

    72,498

    34,320

    49,076

   189,099

   319,513

Reverse repurchase agreements6

 1,529,752

    29,555

   854,290

    25,212

    47,010

   106,455

   103,632

    95,359

    22,884

    10,372

    19,778

    74,586

   140,619

Deposits

 4,189,294

    52,775

 2,717,247

    38,168

   138,421

   483,755

    56,078

   190,826

    16,963

    12,375

    26,666

    76,569

   379,450

Depository institutions

 3,315,650

    52,716

 1,941,374

    38,166

   138,387

   482,802

    56,050

    94,466

    16,948

    12,319

    26,636

    76,370

   379,416

U.S. Treasury, General Account

   713,000

         0

   713,000

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,688

         2

     9,662

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   150,956

        58

    53,211

         0

        30

       944

        27

    96,358

        14

        56

        30

       199

        29

Earnings remittances due to the U.S. Treasury8

  -109,090

    -2,072

   -71,201

    -1,029

    -3,836

   -16,057

        45

    -8,354

      -119

      -198

      -429

    -1,680

    -4,161

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

     8,624

     1,139

     3,504

       173

       305

     1,121

       584

       454

       136

       117

       178

       237

       676

Total liabilities

 7,909,324

   169,999

 4,231,769

   115,351

   293,726

   741,394

   514,297

   403,262

   112,362

    56,987

    95,270

   338,810

   836,098

Capital

Capital paid in

    35,946

     1,516

    12,460

     1,269

     3,834

     7,113

     1,215

     1,794

       811

       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

 7,952,054

   171,806

 4,246,642

   116,864

   298,200

   749,881

   515,715

   405,292

   113,326

    57,256

    95,734

   339,813

   841,525

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

 2,693,381

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

   415,996

Federal Reserve notes to be collateralized

 2,277,385

Collateral held against Federal Reserve notes

 2,277,385

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,261,148

Other assets pledged

         0

Memo:

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

 7,410,580

Less: Face value of securities under reverse repurchase agreements

 1,749,706

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

 5,660,875

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.