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

 8,065,311

-   22,125

-  722,932

 8,064,802

Securities held outright1

 7,490,524

-   19,444

-  912,815

 7,489,689

U.S. Treasury securities

 4,989,307

-   17,406

-  702,396

 4,988,471

Bills2

   259,061

-      361

-   63,698

   258,161

Notes and bonds, nominal2

 4,254,843

-   18,191

-  638,231

 4,254,843

Notes and bonds, inflation-indexed2

   365,380

+      831

-   10,381

   365,380

Inflation compensation3

   110,022

+      314

+    9,913

   110,087

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,498,870

-    2,039

-  210,419

 2,498,870

Unamortized premiums on securities held outright5

   289,821

-      628

-   36,970

   289,653

Unamortized discounts on securities held outright5

   -27,563

-       46

-      801

   -27,481

Repurchase agreements6

         3

+        2

+        2

         6

Foreign official

         1

         0

+        1

         5

Others

         2

+        2

+        1

         1

Loans

   249,561

-    1,795

+  230,411

   249,307

Primary credit

     2,049

-      155

-    2,244

     2,051

Secondary credit

         0

         0

         0

         0

Seasonal credit

        74

+        7

+       32

        79

Paycheck Protection Program Liquidity Facility

     5,634

-      116

-    9,182

     5,526

Bank Term Funding Program

   107,658

+      357

+  107,658

   107,855

Other credit extensions7

   134,147

-    1,887

+  134,147

   133,796

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

    19,540

+       25

-    6,396

    19,556

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,618

+        3

+       62

     5,621

Net portfolio holdings of TALF II LLC8

     1,215

-      366

-      929

     1,216

Float

      -304

-       31

-      142

      -771

Central bank liquidity swaps9

       232

         0

+       35

       232

Other Federal Reserve assets10

    36,663

+      156

+    4,610

    37,774

Foreign currency denominated assets11

    18,150

-       45

+      768

    18,017

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,378

+       14

+    1,220

    52,378

Total factors supplying reserve funds

 8,152,080

-   22,155

-  720,943

 8,151,438

Currency in circulation12

 2,334,046

+    5,736

+   51,054

 2,335,050

Reverse repurchase agreements13

 1,890,256

-   98,338

-  552,079

 1,899,878

Foreign official and international accounts

   301,313

+   11,642

+   39,348

   293,634

Others

 1,588,942

-  109,981

-  591,428

 1,606,244

Treasury cash holdings

       329

+       12

+      231

       342

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

   650,247

+      105

-  145,027

   655,866

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   470,881

+       81

-  110,414

   481,552

Foreign official

     9,884

+       92

+    1,302

    10,453

Other14

   169,482

-       67

-   35,915

   163,861

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -43,447

+    1,383

-   92,334

   -43,531

Total factors, other than reserve balances,
absorbing reserve funds

 4,844,789

-   91,102

-  742,736

 4,860,964

Reserve balances with Federal Reserve Banks

 3,307,291

+   68,946

+   21,793

 3,290,475

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

 3,430,633

-    5,228

+   42,931

 3,433,432

Marketable U.S. Treasury securities1

 2,996,878

-    5,353

+    6,450

 2,999,592

Federal agency debt and mortgage-backed securities2

   351,327

-      117

+   38,443

   351,327

Other securities3

    82,428

+      242

-    1,962

    82,512

Securities lent to dealers

    42,954

+    6,440

-    2,158

    43,040

Overnight facility4

    42,954

+    6,440

-    2,158

    43,040

U.S. Treasury securities

    42,954

+    6,440

-    2,158

    43,040

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

   135,484

     3,660

   104,641

     5,522

         0

...

   249,307

U.S. Treasury securities2

Holdings

    41,877

   279,944

   624,428

 1,712,154

   826,629

 1,503,441

 4,988,471

Weekly changes

-   23,200

+   24,814

-   10,093

-    7,066

-    5,401

+    2,579

-   18,368

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

     9,590

    42,291

 2,446,967

 2,498,870

Weekly changes

         0

+        1

+       11

+      503

-      468

-       45

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     9,877

...

...

     9,877

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       193

       201

         0

...

...

       393

Repurchase agreements8

         6

         0

...

...

...

...

         6

Central bank liquidity swaps9

       232

         0

         0

         0

         0

         0

       232

Reverse repurchase agreements8

 1,899,878

         0

...

...

...

...

 1,899,878

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

 2,498,870

Residential mortgage-backed securities

 2,490,505

Commercial mortgage-backed securities

     8,365

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)

     9,011

     8,927

    10,629

    19,556

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,713

     5,621

TALF II LLC

       394

       393

       823

     1,216

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

     1,413

-        5

+      156

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

 8,001,173

-   20,229

-  719,558

Securities held outright1

 7,489,689

-   18,368

-  912,710

U.S. Treasury securities

 4,988,471

-   18,368

-  702,289

Bills2

   258,161

-    1,261

-   63,659

Notes and bonds, nominal2

 4,254,843

-   18,191

-  638,231

Notes and bonds, inflation-indexed2

   365,380

+      831

-   10,381

Inflation compensation3

   110,087

+      252

+    9,982

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,498,870

         0

-  210,421

Unamortized premiums on securities held outright5

   289,653

-      548

-   36,931

Unamortized discounts on securities held outright5

   -27,481

-       59

-      758

Repurchase agreements6

         6

+        5

+        1

Loans7

   249,307

-    1,258

+  230,840

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

    19,556

+       22

-    6,394

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,621

+        3

+       63

Net portfolio holdings of TALF II LLC8

     1,216

-      367

-      929

Items in process of collection

(0)

        79

+       13

+        3

Bank premises

       436

-       28

-      164

Central bank liquidity swaps9

       232

         0

+       35

Foreign currency denominated assets10

    18,017

-      299

+      855

Other assets11

    37,338

+      890

+    4,848

Total assets

(0)

 8,101,318

-   19,998

-  721,083

Liabilities

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

 2,284,423

+    3,542

+   50,079

Reverse repurchase agreements12

 1,899,878

-   98,445

-  560,020

Deposits

(0)

 3,946,340

+   73,978

-  115,355

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,290,475

+   93,932

+   19,139

U.S. Treasury, General Account

   481,552

-   19,150

-  101,369

Foreign official

    10,453

+       41

+    3,018

Other13

(0)

   163,861

-      844

-   36,141

Deferred availability cash items

(0)

       849

+       30

+      586

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

   -86,251

+      895

-   92,679

Total liabilities

(0)

 8,058,598

-   19,999

-  721,968

Capital accounts

Capital paid in

    35,935

+        1

+      886

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,720

+        1

+      886

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

     1,413

        40

        44

       130

        57

       182

       111

       257

        32

        44

        91

       177

       248

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

 8,001,173

   154,037

 4,358,587

   129,944

   241,899

   546,193

   532,036

   488,919

   123,174

    60,175

   109,006

   390,647

   866,556

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    19,556

    19,556

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,621

         0

     5,621

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,216

         0

     1,216

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       232

        10

        83

         8

        22

        47

         7

         8

         5

         1

         2

         5

        33

Foreign currency denominated

assets4

    18,017

       775

     6,411

       647

     1,699

     3,648

       540

       627

       406

       114

       191

       380

     2,578

Other assets5

    37,853

       800

    16,421

       650

     1,072

     2,687

     3,592

     2,026

       868

       525

       851

     1,805

     6,555

Interdistrict settlement account

         0

+    3,594

-  190,000

-    5,414

+   54,170

+  221,496

+    7,376

-   43,118

-    3,573

-    1,025

-   10,809

-   26,648

-    6,050

Total assets

 8,101,318

   179,369

 4,203,559

   126,491

   299,670

   775,440

   545,949

   449,823

   121,390

    60,099

    99,785

   367,656

   872,086

Liabilities

Federal Reserve notes, net

 2,284,423

    80,951

   721,189

    54,860

   112,741

   168,285

   354,182

   125,089

    72,939

    34,358

    49,656

   190,529

   319,645

Reverse repurchase agreements6

 1,899,878

    36,705

 1,060,987

    31,313

    58,384

   132,211

   128,706

   118,432

    28,421

    12,882

    24,563

    92,632

   174,642

Deposits

 3,946,340

    50,995

 2,461,959

    39,480

   126,917

   478,942

    60,451

   211,232

    19,021

    12,638

    25,269

    84,755

   374,681

Depository institutions

 3,290,475

    50,938

 1,916,740

    39,479

   126,886

   478,380

    60,423

   101,549

    19,008

    12,573

    25,235

    84,617

   374,647

U.S. Treasury, General Account

   481,552

         0

   481,552

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

    10,453

         2

    10,428

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   163,861

        55

    53,239

         0

        28

       554

        27

   109,682

        12

        65

        33

       137

        29

Earnings remittances due to the U.S. Treasury8

   -97,816

    -1,858

   -64,588

      -890

    -3,265

   -13,925

       -16

    -7,657

      -121

      -179

      -375

    -1,594

    -3,346

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

    12,415

     1,084

     5,469

       216

       420

     1,445

     1,212

       697

       165

       131

       208

       331

     1,037

Total liabilities

 8,058,598

   177,562

 4,188,690

   124,978

   295,196

   766,957

   544,534

   447,792

   120,425

    59,830

    99,320

   366,654

   866,659

Capital

Capital paid in

    35,935

     1,516

    12,455

     1,269

     3,834

     7,109

     1,212

     1,794

       812

       226

       393

       859

     4,456

Surplus

     6,785

       292

     2,414

       244

       640

     1,374

       203

       236

       153

        43

        72

       143

       971

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 8,101,318

   179,369

 4,203,559

   126,491

   299,670

   775,440

   545,949

   449,823

   121,390

    60,099

    99,785

   367,656

   872,086

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

 2,692,003

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

   407,580

Federal Reserve notes to be collateralized

 2,284,423

Collateral held against Federal Reserve notes

 2,284,423

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,268,186

Other assets pledged

         0

Memo:

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

 7,489,695

Less: Face value of securities under reverse repurchase agreements

 2,139,024

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

 5,350,671

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.