Board of Governors of the Federal Reserve System

For Release at

4:30 P.M. Eastern time

August 1, 2024

In table 4, the outstanding amount of facility asset purchases for MS Facilities 2020 LLC (Main Street Lending Program) reflects the quarterly update to the allowance for credit losses. The allowance for credit losses was estimated based upon the Main Street Lending Program holdings as of June 30, 2024.

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

Reserve Bank credit

 7,145,768

-   20,326

-1,044,353

 7,136,425

Securities held outright1

 6,742,902

-   17,459

-  842,841

 6,734,152

U.S. Treasury securities

 4,422,365

-    1,296

-  643,472

 4,413,615

Bills2

   195,293

         0

-   64,129

   195,293

Notes and bonds, nominal2

 3,767,140

-    1,619

-  566,387

 3,757,428

Notes and bonds, inflation-indexed2

   343,146

+      150

-   21,403

   344,044

Inflation compensation3

   116,786

+      173

+    8,447

   116,850

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,318,190

-   16,163

-  199,369

 2,318,190

Unamortized premiums on securities held outright5

   261,751

-      832

-   31,281

   261,590

Unamortized discounts on securities held outright5

   -24,425

+       82

+    2,737

   -24,370

Repurchase agreements6

         1

         0

-      357

         5

Foreign official

         0

         0

-      357

         0

Others

         1

         0

         0

         5

Loans

   111,561

-      411

-  152,391

   111,755

Primary credit

     6,613

-       77

+    4,519

     6,925

Secondary credit

         1

+        1

+        1

         0

Seasonal credit

        71

+        1

+       31

        66

Paycheck Protection Program Liquidity Facility

     2,700

-       19

-    3,712

     2,698

Bank Term Funding Program

   102,176

-      318

-    3,276

   102,066

Other credit extensions7

         0

         0

-  149,954

         0

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

    10,867

-        3

-    8,868

    10,878

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,605

         0

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,615

         0

Float

      -419

-      196

+       66

    -1,029

Central bank liquidity swaps9

       155

-        4

-       80

       155

Other Federal Reserve assets10

    43,375

-    1,502

-    4,117

    43,289

Foreign currency denominated assets11

    18,089

+       88

-      504

    18,210

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

    10,200

         0

+    5,000

    10,200

Treasury currency outstanding12

    53,036

+       14

+      728

    53,036

Total factors supplying reserve funds

 7,238,134

-   20,223

-1,039,129

 7,228,912

Currency in circulation12

 2,347,307

-      623

+   14,112

 2,348,663

Reverse repurchase agreements13

   784,093

-    4,577

-1,278,796

   813,261

Foreign official and international accounts

   400,273

-      409

+   88,431

   400,061

Others

   383,820

-    4,168

-1,367,227

   413,200

Treasury cash holdings

       402

         0

+      137

       404

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

   943,816

+    5,524

+  230,304

 1,018,358

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   786,486

+   12,171

+  269,027

   854,001

Foreign official

     9,684

-       57

-        2

     9,685

Other14

   147,646

-    6,591

-   38,722

   154,673

Treasury contributions to credit facilities15

     4,958

         0

-    8,400

     4,958

Other liabilities and capital16

  -135,961

-    5,485

-  100,471

  -135,433

Total factors, other than reserve balances,
absorbing reserve funds

 3,944,615

-    5,162

-1,143,115

 4,050,212

Reserve balances with Federal Reserve Banks

 3,293,519

-   15,061

+  103,986

 3,178,700

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 2020 LLC of $5.0 billion.

16.

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

Securities held in custody for foreign official and international accounts

 3,301,178

-    9,518

-  144,402

 3,300,046

Marketable U.S. Treasury securities1

 2,919,882

-    6,876

-   91,304

 2,918,537

Federal agency debt and mortgage-backed securities2

   301,107

-    2,649

-   51,420

   301,237

Other securities3

    80,190

+        8

-    1,677

    80,272

Securities lent to dealers

    36,193

-    3,587

-    4,344

    35,851

Overnight facility4

    36,193

-    3,587

-    4,344

    35,851

U.S. Treasury securities

    36,193

-    3,587

-    4,344

    35,851

Federal agency debt securities

         0

         0

         0

         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

     1,878

     5,198

   102,375

     2,303

         0

...

   111,755

U.S. Treasury securities2

Holdings

    84,041

   135,154

   562,900

 1,472,796

   637,850

 1,520,874

 4,413,615

Weekly changes

+   20,102

-   43,586

+   19,257

-    6,849

+      199

+      767

-   10,110

Federal agency debt securities3

Holdings

         0

         0

         0

       486

     1,861

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

Holdings

         0

         0

        25

     6,183

    25,652

 2,286,331

 2,318,190

Weekly changes

         0

-        1

-        6

-      112

-      590

-   13,315

-   14,026

Loan participations held by MS

Facilities 2020 LLC (Main Street

Lending Program)5

         0

         0

         0

     5,847

...

...

     5,847

Repurchase agreements6

         5

         0

...

...

...

...

         5

Central bank liquidity swaps7

       155

         0

         0

         0

         0

         0

       155

Reverse repurchase agreements6

   813,261

         0

...

...

...

...

   813,261

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. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities 2020 LLC, which were eliminated when preparing the FRBB's statement of condition, 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 2020 LLC.

6.

Cash value of agreements.

7.

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

 2,318,190

Residential mortgage-backed securities

 2,310,058

Commercial mortgage-backed securities

     8,132

Commitments to buy mortgage-backed securities2

         0

Commitments to sell mortgage-backed securities2

        67

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 2020 LLC (Main Street Lending Program)

     4,903

     4,946

     5,932

    10,878

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 includes loan participations at face value, net of an allowance for credit losses updated as of June 30, 2024.

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. Refer to the note on consolidation accompanying table 6.

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

    10,200

         0

+    5,000

Coin

     1,434

+        6

+       39

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

 7,083,132

-   25,015

-1,012,670

Securities held outright1

 6,734,152

-   24,135

-  833,779

U.S. Treasury securities

 4,413,615

-   10,110

-  634,410

Bills2

   195,293

         0

-   64,129

Notes and bonds, nominal2

 3,757,428

-   11,331

-  558,171

Notes and bonds, inflation-indexed2

   344,044

+    1,048

-   20,505

Inflation compensation3

   116,850

+      173

+    8,395

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,318,190

-   14,026

-  199,369

Unamortized premiums on securities held outright5

   261,590

-      750

-   31,237

Unamortized discounts on securities held outright5

   -24,370

+       54

+    2,699

Repurchase agreements6

         5

+        5

+        4

Loans7

   111,755

-      189

-  150,356

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

    10,878

-        2

-    8,874

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,607

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,577

Items in process of collection

(0)

        55

-        5

-        3

Bank premises

       438

+        6

+        1

Central bank liquidity swaps9

       155

-        4

-       80

Foreign currency denominated assets10

    18,210

+      117

-      336

Other assets11

    42,850

-    2,169

-    4,269

Total assets

(0)

 7,178,391

-   27,064

-1,028,373

Liabilities

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

 2,297,461

+      980

+   14,393

Reverse repurchase agreements12

   813,261

+    7,294

-1,259,148

Deposits

(0)

 4,197,058

-   30,483

+  324,236

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,178,700

-   97,185

-   38,698

U.S. Treasury, General Account

   854,001

+   86,582

+  393,075

Foreign official

     9,685

+        1

-        1

Other13

(0)

   154,673

-   19,879

-   30,139

Deferred availability cash items

(0)

     1,085

+      755

+      481

Treasury contributions to credit facilities14

     4,958

         0

-    8,400

Other liabilities and accrued dividends15

  -178,730

-    5,610

-  100,691

Total liabilities

(0)

 7,135,093

-   27,065

-1,029,129

Capital accounts

Capital paid in

    36,512

         0

+      755

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    43,297

         0

+      755

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 2020 LLC of $5.0 billion.

15.

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

Assets

Gold certificates and special drawing rights certificates

    21,237

       729

     6,619

       657

       997

     1,557

     2,999

     1,417

       635

       355

       599

     1,786

     2,887

Coin

     1,434

        43

        41

       165

        46

       184

       104

       248

        33

        49

       100

       177

       245

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

 7,083,132

   157,435

 3,764,153

   106,393

   275,208

   704,533

   475,780

   392,466

   103,572

    49,311

    85,197

   314,279

   654,805

Net portfolio holdings of MS

Facilities 2020 LLC (Main Street

Lending Program)2

    10,878

    10,878

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       155

         6

        54

         5

        16

        31

         5

         8

         3

         1

         2

         4

        20

Foreign currency denominated

assets4

    18,210

       759

     6,311

       640

     1,935

     3,588

       596

       893

       410

       114

       198

       437

     2,329

Other assets5

    43,344

     1,236

    19,984

       760

     1,678

     4,506

     3,889

     2,410

       880

       607

       991

     2,110

     4,293

Interdistrict settlement account

         0

+   17,951

-   31,743

+   17,181

+   21,097

-   41,397

-    8,756

-   34,490

+    3,029

-    3,326

-   12,667

-    5,893

+   79,013

Total assets

 7,178,391

   189,038

 3,765,418

   125,802

   300,978

   673,002

   474,617

   362,953

   108,561

    47,111

    74,420

   312,900

   743,591

Liabilities

Federal Reserve notes, net

 2,297,461

    86,751

   742,562

    56,531

   115,527

   160,999

   356,340

   110,565

    75,303

    28,127

    32,877

   201,280

   330,599

Reverse repurchase agreements6

   813,261

    16,916

   437,649

    12,117

    31,713

    81,065

    54,410

    44,882

    11,380

     5,081

     8,942

    35,514

    73,593

Deposits

 4,197,058

    80,964

 2,683,076

    57,499

   156,824

   451,553

    60,935

   218,003

    20,726

    13,700

    32,574

    76,073

   345,132

Depository institutions

 3,178,700

    80,909

 1,767,421

    57,497

   156,791

   451,278

    60,906

   116,034

    20,720

    13,551

    32,541

    75,950

   345,102

U.S. Treasury, General Account

   854,001

         0

   854,001

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,685

         2

     9,659

         1

         4

         8

         1

         2

         1

         0

         0

         1

         5

Other7

   154,673

        53

    51,996

         0

        29

       266

        27

   101,968

         5

       149

        32

       122

        25

Earnings remittances due to the U.S. Treasury8

  -186,266

    -3,584

  -115,632

    -2,049

    -7,949

   -30,037

        61

   -13,068

        13

      -192

      -618

    -1,364

   -11,849

Treasury contributions to credit facilities9

     4,958

     4,958

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     8,620

     1,200

     2,895

       187

       291

       879

     1,410

       435

       156

       123

       185

       238

       621

Total liabilities

 7,135,093

   187,204

 3,750,550

   124,285

   296,407

   664,458

   473,157

   360,818

   107,578

    46,839

    73,959

   311,741

   738,097

Capital

Capital paid in

    36,512

     1,550

    12,522

     1,279

     3,849

     7,205

     1,238

     1,801

       830

       230

       387

       996

     4,625

Surplus

     6,785

       283

     2,346

       239

       722

     1,339

       222

       333

       153

        42

        74

       163

       869

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 7,178,391

   189,038

 3,765,418

   125,802

   300,978

   673,002

   474,617

   362,953

   108,561

    47,111

    74,420

   312,900

   743,591

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 2020 LLC of $5.0 billion.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities 2020 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 2020 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 2020 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

 2,764,625

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

   467,164

Federal Reserve notes to be collateralized

 2,297,461

Collateral held against Federal Reserve notes

 2,297,461

Gold certificate account

    11,037

Special drawing rights certificate account

    10,200

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

 2,276,224

Other assets pledged

         0

Memo:

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

 6,734,157

Less: Face value of securities under reverse repurchase agreements

   901,937

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

 5,832,221

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.