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

 7,886,124

-   19,160

-  815,204

 7,872,150

Securities held outright1

 7,389,152

-   14,299

-  911,906

 7,377,454

U.S. Treasury securities

 4,912,213

-    9,197

-  697,164

 4,912,200

Bills2

   232,990

-    1,729

-   66,004

   232,804

Notes and bonds, nominal2

 4,201,526

-    7,937

-  633,162

 4,201,526

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

   365,380

Inflation compensation3

   112,317

+      470

+   12,383

   112,490

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,474,592

-    5,102

-  214,742

 2,462,907

Unamortized premiums on securities held outright5

   285,234

-      675

-   36,079

   284,770

Unamortized discounts on securities held outright5

   -26,427

+       85

+      393

   -26,324

Repurchase agreements6

         1

+        1

-        1

         1

Foreign official

         0

         0

         0

         0

Others

         1

+        1

-        1

         1

Loans

   164,538

-    5,078

+  145,810

   165,031

Primary credit

     2,890

+      170

-    2,341

     3,170

Secondary credit

         0

         0

         0

         0

Seasonal credit

        45

-       10

+       18

        42

Paycheck Protection Program Liquidity Facility

     4,524

-      139

-    8,946

     4,495

Bank Term Funding Program

   108,769

-       49

+  108,769

   109,068

Other credit extensions7

    48,310

-    5,050

+   48,310

    48,256

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

    19,015

-      220

-    6,191

    19,038

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,638

+        3

+       68

     5,641

Net portfolio holdings of TALF II LLC8

     1,222

+        1

-      916

     1,223

Float

      -191

-       27

+       34

      -242

Central bank liquidity swaps9

       252

+       21

-   11,050

       252

Other Federal Reserve assets10

    47,690

+    1,029

+    4,634

    45,308

Foreign currency denominated assets11

    17,705

+       66

+      718

    17,689

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,476

+       14

+      491

    52,476

Total factors supplying reserve funds

 7,972,546

-   19,080

-  813,995

 7,958,556

Currency in circulation12

 2,323,056

-    2,109

+   39,317

 2,323,027

Reverse repurchase agreements13

 1,429,945

-    4,179

-1,134,145

 1,403,115

Foreign official and international accounts

   303,242

+    5,529

-   24,275

   302,498

Others

 1,126,702

-    9,709

-1,109,871

 1,100,617

Treasury cash holdings

       367

+        8

+      266

       372

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

 1,006,127

+   84,580

+  169,425

 1,016,892

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   834,418

+   74,540

+  199,870

   847,717

Foreign official

     9,685

-        3

+    2,250

     9,685

Other14

   162,024

+   10,043

-   32,694

   159,490

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -62,192

-    5,384

-  103,323

   -62,179

Total factors, other than reserve balances,
absorbing reserve funds

 4,710,660

+   72,916

-1,033,043

 4,694,586

Reserve balances with Federal Reserve Banks

 3,261,886

-   91,995

+  219,048

 3,263,971

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

 3,425,670

-    7,601

+   88,405

 3,427,901

Marketable U.S. Treasury securities1

 2,990,483

-    7,173

+   66,465

 2,991,443

Federal agency debt and mortgage-backed securities2

   352,735

-      440

+   23,692

   353,818

Other securities3

    82,452

+       12

-    1,753

    82,640

Securities lent to dealers

    36,624

-    2,282

-    1,771

    35,427

Overnight facility4

    36,624

-    2,282

-    1,771

    35,427

U.S. Treasury securities

    36,624

-    2,282

-    1,765

    35,427

Federal agency debt securities

         0

         0

-        5

         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

    52,011

     3,256

   105,273

     4,491

         0

...

   165,031

U.S. Treasury securities2

Holdings

    84,484

   237,526

   584,783

 1,682,776

   818,580

 1,504,050

 4,912,200

Weekly changes

+      981

-    2,525

-      149

+      199

+      107

+      128

-    1,257

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

        18

     5,437

    37,283

 2,420,168

 2,462,907

Weekly changes

         0

-        1

-        4

-      308

-      562

-   15,871

-   16,745

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     9,191

...

...

     9,191

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

     2,907

         0

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       193

         0

         0

...

...

       193

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       252

         0

         0

         0

         0

         0

       252

Reverse repurchase agreements8

 1,403,115

         0

...

...

...

...

 1,403,115

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

 2,462,907

Residential mortgage-backed securities

 2,454,618

Commercial mortgage-backed securities

     8,289

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)

     8,329

     8,332

    10,706

    19,038

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,733

     5,641

TALF II LLC

       393

       193

     1,030

     1,223

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

     1,455

-        1

+      255

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

 7,800,931

-   23,439

-  801,730

Securities held outright1

 7,377,454

-   18,002

-  912,150

U.S. Treasury securities

 4,912,200

-    1,257

-  696,538

Bills2

   232,804

-    1,727

-   65,511

Notes and bonds, nominal2

 4,201,526

         0

-  633,216

Notes and bonds, inflation-indexed2

   365,380

         0

-   10,381

Inflation compensation3

   112,490

+      470

+   12,570

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,462,907

-   16,745

-  215,612

Unamortized premiums on securities held outright5

   284,770

-      947

-   36,024

Unamortized discounts on securities held outright5

   -26,324

+       98

+      435

Repurchase agreements6

         1

+        1

         0

Loans7

   165,031

-    4,587

+  146,011

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

    19,038

+       27

-    6,187

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,641

+        3

+       69

Net portfolio holdings of TALF II LLC8

     1,223

+        1

-      917

Items in process of collection

(0)

        57

-       13

-       41

Bank premises

       442

+        4

-      217

Central bank liquidity swaps9

       252

+       21

-   11,050

Foreign currency denominated assets10

    17,689

+       57

+      481

Other assets11

    44,866

-    1,991

+    4,078

Total assets

(0)

 7,907,830

-   25,332

-  815,260

Liabilities

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

 2,272,374

-    1,449

+   37,917

Reverse repurchase agreements12

 1,403,115

-   45,813

-1,086,249

Deposits

(0)

 4,280,863

+   27,856

+  341,537

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,263,971

+   13,741

+  155,824

U.S. Treasury, General Account

   847,717

+    6,614

+  211,390

Foreign official

     9,685

-        3

+    2,249

Other13

(0)

   159,490

+    7,504

-   27,927

Deferred availability cash items

(0)

       300

-        6

-      349

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

  -104,913

-    5,919

-  104,392

Total liabilities

(0)

 7,865,097

-   25,332

-  816,119

Capital accounts

Capital paid in

    35,948

         0

+      859

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,733

         0

+      859

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

     1,455

        50

        42

       131

        51

       188

       114

       253

        30

        47

       100

       182

       265

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

 7,800,931

   151,746

 4,271,279

   128,183

   237,805

   538,297

   524,416

   481,920

   121,726

    59,343

   107,025

   385,180

   794,011

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    19,038

    19,038

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,641

         0

     5,641

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,223

         0

     1,223

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       252

        11

        89

         9

        24

        51

         8

         9

         6

         2

         3

         5

        36

Foreign currency denominated

assets4

    17,689

       761

     6,294

       636

     1,668

     3,582

       530

       616

       398

       112

       188

       373

     2,531

Other assets5

    45,366

       997

    20,770

       807

     1,360

     3,333

     4,207

     2,609

       878

       612

     1,022

     2,311

     6,457

Interdistrict settlement account

         0

+    1,277

-    3,485

-   16,221

+   37,829

+  185,052

-   26,584

-   84,704

-   11,318

-    4,105

-   14,790

-   59,629

-    3,322

Total assets

 7,907,830

   174,437

 4,307,029

   114,069

   279,489

   731,689

   504,978

   401,807

   112,199

    56,275

    94,001

   329,712

   802,144

Liabilities

Federal Reserve notes, net

 2,272,374

    78,338

   728,484

    51,903

   110,657

   164,219

   353,552

   124,481

    72,291

    33,957

    48,605

   187,584

   318,303

Reverse repurchase agreements6

 1,403,115

    27,108

   783,570

    23,125

    43,118

    97,642

    95,053

    87,465

    20,990

     9,514

    18,141

    68,412

   128,978

Deposits

 4,280,863

    58,462

 2,846,540

    38,419

   124,976

   477,249

    54,315

   195,928

    17,923

    12,617

    27,049

    74,144

   353,240

Depository institutions

 3,263,971

    58,407

 1,933,177

    38,418

   124,927

   476,622

    54,249

    93,509

    17,906

    12,507

    27,019

    74,023

   353,206

U.S. Treasury, General Account

   847,717

         0

   847,717

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,685

         2

     9,659

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   159,490

        53

    55,986

         0

        45

       618

        65

   102,418

        16

       110

        30

       120

        28

Earnings remittances due to the U.S. Treasury8

  -113,255

    -2,153

   -73,676

    -1,070

    -4,045

   -16,900

        30

    -8,558

      -108

      -195

      -440

    -1,668

    -4,473

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

     8,641

     1,190

     3,564

       179

       307

       992

       611

       460

       139

       114

       181

       237

       668

Total liabilities

 7,865,097

   172,630

 4,292,155

   112,556

   275,014

   723,202

   503,560

   399,776

   111,235

    56,007

    93,536

   328,708

   796,717

Capital

Capital paid in

    35,948

     1,516

    12,460

     1,269

     3,834

     7,113

     1,215

     1,795

       811

       226

       393

       861

     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

 7,907,830

   174,437

 4,307,029

   114,069

   279,489

   731,689

   504,978

   401,807

   112,199

    56,275

    94,001

   329,712

   802,144

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

 2,692,821

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

   420,447

Federal Reserve notes to be collateralized

 2,272,374

Collateral held against Federal Reserve notes

 2,272,374

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,256,137

Other assets pledged

         0

Memo:

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

 7,377,455

Less: Face value of securities under reverse repurchase agreements

 1,618,357

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

 5,759,098

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.