Board of Governors of the Federal Reserve System

For Release at

4:30 P.M. Eastern time

November 7, 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 September 30, 2024.

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

Reserve Bank credit

 6,952,847

-   21,523

-  869,182

 6,953,262

Securities held outright1

 6,608,210

-   19,669

-  729,851

 6,608,273

U.S. Treasury securities

 4,339,900

-   17,862

-  532,907

 4,339,963

Bills2

   195,293

         0

-   35,973

   195,293

Notes and bonds, nominal2

 3,686,021

-   18,419

-  477,003

 3,686,021

Notes and bonds, inflation-indexed2

   341,360

+      422

-   24,042

   341,360

Inflation compensation3

   117,226

+      134

+    4,110

   117,289

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,265,963

-    1,807

-  196,944

 2,265,963

Unamortized premiums on securities held outright5

   254,039

-      503

-   29,878

   253,870

Unamortized discounts on securities held outright5

   -24,018

-      259

+    2,618

   -23,941

Repurchase agreements6

        16

+        7

+       15

       101

Foreign official

         0

-        1

         0

         0

Others

        16

+        7

+       15

       101

Loans

    60,538

-    1,915

-   92,487

    59,758

Primary credit

     1,401

-       66

-      970

     1,600

Secondary credit

         0

         0

         0

         0

Seasonal credit

        55

-        4

+       20

        53

Paycheck Protection Program Liquidity Facility

     2,058

-       35

-    2,230

     2,049

Bank Term Funding Program

    57,025

-    1,808

-   54,074

    56,055

Other credit extensions7

         0

         0

-   35,233

         0

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

    10,136

-       11

-    9,011

    10,143

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,644

         0

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,019

         0

Float

      -329

+       87

-      140

      -286

Central bank liquidity swaps9

       151

-        6

-       85

       151

Other Federal Reserve assets10

    44,104

+      746

-    3,699

    45,193

Foreign currency denominated assets11

    18,177

+       51

+      322

    17,964

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

    10,200

         0

+    5,000

    10,200

Treasury currency outstanding12

    53,157

+       14

+      728

    53,157

Total factors supplying reserve funds

 7,045,421

-   21,459

-  863,133

 7,045,624

Currency in circulation12

 2,358,144

+    3,156

+   32,574

 2,359,810

Reverse repurchase agreements13

   555,192

-   65,539

-  806,394

   573,077

Foreign official and international accounts

   389,234

-    1,694

+   79,707

   395,206

Others

   165,958

-   63,844

-  886,102

   177,871

Treasury cash holdings

       347

+       11

-       30

       349

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

 1,010,178

+    8,178

+   65,443

 1,008,737

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   842,051

+    6,814

+   69,365

   840,227

Foreign official

     9,682

-        1

-       43

     9,681

Other14

   158,444

+    1,365

-    3,879

   158,829

Treasury contributions to credit facilities15

     4,958

         0

-    8,400

     4,958

Other liabilities and capital16

  -157,518

-    4,428

-   91,537

  -156,840

Total factors, other than reserve balances,
absorbing reserve funds

 3,771,301

-   58,621

-  808,344

 3,790,092

Reserve balances with Federal Reserve Banks

 3,274,120

+   37,162

-   54,788

 3,255,532

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

 3,333,887

+    4,746

-   97,912

 3,327,763

Marketable U.S. Treasury securities1

 2,945,926

+    4,263

-   49,634

 2,939,763

Federal agency debt and mortgage-backed securities2

   299,418

+      630

-   54,423

   299,440

Other securities3

    88,544

-      147

+    6,146

    88,560

Securities lent to dealers

    34,941

+    2,256

+      352

    34,840

Overnight facility4

    34,941

+    2,256

+      352

    34,840

U.S. Treasury securities

    34,941

+    2,256

+      352

    34,840

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

     1,168

    55,705

     1,218

     1,668

         0

...

    59,758

U.S. Treasury securities2

Holdings

    86,296

   193,934

   485,953

 1,452,216

   593,275

 1,528,291

 4,339,963

Weekly changes

+   16,241

-   21,193

+    1,540

-   15,478

+      763

+      267

-   17,862

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

         1

        14

     6,113

    24,093

 2,235,741

 2,265,963

Weekly changes

         0

+        1

+        2

+      108

+      394

-      505

         0

Loan participations held by MS

Facilities 2020 LLC (Main Street

Lending Program)5

         0

         0

         0

     5,012

...

...

     5,012

Repurchase agreements6

       101

         0

...

...

...

...

       101

Central bank liquidity swaps7

       151

         0

         0

         0

         0

         0

       151

Reverse repurchase agreements6

   573,077

         0

...

...

...

...

   573,077

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

 2,265,963

Residential mortgage-backed securities

 2,257,865

Commercial mortgage-backed securities

     8,098

Commitments to buy mortgage-backed securities2

        74

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 2020 LLC (Main Street Lending Program)

     4,035

     4,424

     5,719

    10,143

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 September 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

     1,480

-       15

+       29

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

 6,898,061

-   20,238

-  851,978

Securities held outright1

 6,608,273

-   17,862

-  729,895

U.S. Treasury securities

 4,339,963

-   17,862

-  532,951

Bills2

   195,293

         0

-   35,973

Notes and bonds, nominal2

 3,686,021

-   18,426

-  477,003

Notes and bonds, inflation-indexed2

   341,360

+      404

-   24,045

Inflation compensation3

   117,289

+      159

+    4,070

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,265,963

         0

-  196,944

Unamortized premiums on securities held outright5

   253,870

-      459

-   29,881

Unamortized discounts on securities held outright5

   -23,941

-      260

+    2,606

Repurchase agreements6

       101

+       70

+      101

Loans7

    59,758

-    1,727

-   94,909

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

    10,143

-       15

-    9,024

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,646

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,020

Items in process of collection

(0)

        70

         0

-        3

Bank premises

       419

-       11

-       11

Central bank liquidity swaps9

       151

-        6

-       85

Foreign currency denominated assets10

    17,964

-      191

+      152

Other assets11

    44,774

+    1,286

-    3,806

Total assets

(0)

 6,994,299

-   19,191

-  866,392

Liabilities

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

 2,308,478

+    3,281

+   32,867

Reverse repurchase agreements12

   573,077

-   53,930

-  770,780

Deposits

(0)

 4,264,270

+   36,933

-   28,849

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,255,532

+   39,738

-  104,896

U.S. Treasury, General Account

   840,227

-    6,910

+   76,768

Foreign official

     9,681

-        3

-        6

Other13

(0)

   158,829

+    4,107

-      716

Deferred availability cash items

(0)

       356

-    1,038

+       76

Treasury contributions to credit facilities14

     4,958

         0

-    8,400

Other liabilities and accrued dividends15

  -200,478

-    4,581

-   92,168

Total liabilities

(0)

 6,950,661

-   19,335

-  867,254

Capital accounts

Capital paid in

    36,853

+      144

+      862

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    43,638

+      144

+      862

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

     1,480

        56

        46

       167

        43

       194

       112

       249

        32

        57

        97

       185

       244

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

 6,898,061

   145,226

 3,686,230

   102,760

   269,038

   690,091

   463,793

   380,351

    99,111

    45,923

    81,215

   305,136

   629,187

Net portfolio holdings of MS

Facilities 2020 LLC (Main Street

Lending Program)2

    10,143

    10,143

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       151

         6

        52

         5

        16

        30

         5

         7

         3

         1

         2

         4

        19

Foreign currency denominated

assets4

    17,964

       749

     6,213

       632

     1,911

     3,544

       589

       882

       405

       112

       196

       432

     2,300

Other assets5

    45,263

     1,100

    21,245

       760

     1,741

     4,822

     3,983

     2,453

     1,044

       579

       993

     2,215

     4,327

Interdistrict settlement account

         0

+   21,698

-   35,011

+   50,148

-    3,179

-   69,342

-    2,327

-   29,756

+   10,624

+    5,004

-   12,907

+   10,682

+   54,365

Total assets

 6,994,299

   179,708

 3,685,392

   155,130

   270,567

   630,896

   469,155

   355,603

   111,853

    52,031

    70,195

   320,440

   693,329

Liabilities

Federal Reserve notes, net

 2,308,478

    85,768

   752,605

    55,436

   114,248

   168,387

   360,247

   105,311

    77,697

    30,318

    28,984

   201,025

   328,451

Reverse repurchase agreements6

   573,077

    11,920

   308,396

     8,538

    22,347

    57,123

    38,341

    31,627

     8,019

     3,580

     6,301

    25,026

    51,858

Deposits

 4,264,270

    77,864

 2,734,047

    92,321

   138,336

   429,370

    68,322

   230,731

    24,963

    17,971

    34,991

    94,316

   321,039

Depository institutions

 3,255,532

    77,856

 1,832,608

    92,320

   138,294

   428,841

    68,292

   124,260

    24,958

    17,914

    34,961

    94,233

   320,993

U.S. Treasury, General Account

   840,227

         0

   840,227

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,681

         2

     9,655

         1

         4

         8

         1

         2

         1

         0

         0

         1

         5

Other7

   158,829

         6

    51,556

         0

        38

       521

        29

   106,469

         4

        56

        29

        82

        40

Earnings remittances due to the U.S. Treasury8

  -208,352

    -4,029

  -127,335

    -2,926

    -9,270

   -33,470

        74

   -14,730

         5

      -256

      -772

    -1,439

   -14,203

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

     8,229

     1,373

     2,797

       235

       328

       919

       688

       461

       177

       138

       205

       264

       645

Total liabilities

 6,950,661

   177,854

 3,670,510

   153,605

   265,988

   622,329

   467,673

   353,400

   110,860

    51,750

    69,709

   319,192

   687,790

Capital

Capital paid in

    36,853

     1,571

    12,536

     1,287

     3,857

     7,228

     1,260

     1,870

       840

       238

       412

     1,085

     4,670

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

 6,994,299

   179,708

 3,685,392

   155,130

   270,567

   630,896

   469,155

   355,603

   111,853

    52,031

    70,195

   320,440

   693,329

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

 2,782,576

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

   474,098

Federal Reserve notes to be collateralized

 2,308,478

Collateral held against Federal Reserve notes

 2,308,478

Gold certificate account

    11,037

Special drawing rights certificate account

    10,200

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

 2,287,241

Other assets pledged

         0

Memo:

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

 6,608,374

Less: Face value of securities under reverse repurchase agreements

   628,508

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

 5,979,866

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.