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

 8,268,771

-   48,868

-  586,508

 8,261,904

Securities held outright1

 7,652,305

-   42,132

-  803,353

 7,646,946

U.S. Treasury securities

 5,111,820

-   33,439

-  632,162

 5,106,460

Bills2

   269,263

-    2,901

-   56,781

   268,928

Notes and bonds, nominal2

 4,365,982

-   30,941

-  575,976

 4,360,825

Notes and bonds, inflation-indexed2

   368,228

-       22

-   16,114

   368,228

Inflation compensation3

   108,346

+      424

+   16,708

   108,479

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,538,138

-    8,693

-  171,191

 2,538,138

Unamortized premiums on securities held outright5

   295,834

-      708

-   37,457

   295,568

Unamortized discounts on securities held outright5

   -27,382

+       71

-    2,174

   -27,258

Repurchase agreements6

       429

+      429

+      429

         0

Foreign official

       429

+      429

+      429

         0

Others

         0

         0

         0

         0

Loans

   279,479

-    5,242

+  259,778

   277,332

Primary credit

     3,795

+      396

+    1,846

     3,356

Secondary credit

         0

         0

         0

         0

Seasonal credit

        23

-        4

+       14

        23

Paycheck Protection Program Liquidity Facility

     7,220

-      238

-   10,522

     7,218

Bank Term Funding Program

   102,026

-      928

+  102,026

   101,959

Other credit extensions7

   166,416

-    4,468

+  166,416

   164,775

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

    19,957

+       26

-    6,434

    19,969

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,594

+        4

+       52

     5,595

Net portfolio holdings of TALF II LLC8

     1,649

-       65

-      530

     1,639

Float

      -378

-      165

-      163

      -503

Central bank liquidity swaps9

       219

-       91

-      128

       219

Other Federal Reserve assets10

    41,064

-      995

+    3,468

    42,399

Foreign currency denominated assets11

    18,370

+       15

+      303

    18,276

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    51,835

+       14

+      728

    51,835

Total factors supplying reserve funds

 8,355,217

-   48,839

-  585,478

 8,348,257

Currency in circulation12

 2,345,645

+    4,613

+   62,160

 2,347,266

Reverse repurchase agreements13

 2,293,322

-    2,665

-  164,696

 2,191,320

Foreign official and international accounts

   332,753

+    2,507

+   61,076

   324,259

Others

 1,960,569

-    5,172

-  225,772

 1,867,061

Treasury cash holdings

       243

+       25

+      145

       248

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

   614,755

+   12,279

-  327,632

   643,144

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   415,441

+   24,870

-  285,016

   446,864

Foreign official

     9,731

+       46

+    2,062

     9,697

Other14

   189,584

-   12,636

-   44,677

   186,583

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -27,095

-    6,513

-   75,235

   -26,726

Total factors, other than reserve balances,
absorbing reserve funds

 5,240,228

+    7,739

-  509,840

 5,168,611

Reserve balances with Federal Reserve Banks

 3,114,989

-   56,578

-   75,638

 3,179,646

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 loans that were extended 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

 3,431,784

-      619

+   55,079

 3,433,820

Marketable U.S. Treasury securities1

 2,997,689

-      553

+   18,809

 2,999,711

Federal agency debt and mortgage-backed securities2

   352,079

-       78

+   37,081

   352,077

Other securities3

    82,015

+       11

-      812

    82,032

Securities lent to dealers

    45,055

+    2,934

-      636

    42,424

Overnight facility4

    45,055

+    2,934

-      636

    42,424

U.S. Treasury securities

    45,055

+    2,941

-      636

    42,424

Federal agency debt securities

         0

-        7

         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

   167,150

     2,165

   100,803

     7,213

         0

...

   277,332

U.S. Treasury securities2

Holdings

    63,003

   307,238

   628,810

 1,761,756

   854,072

 1,491,581

 5,106,460

Weekly changes

-   17,853

+    2,406

-      698

-    8,441

-   14,130

+       95

-   38,620

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

         2

        14

     9,505

    44,523

 2,484,094

 2,538,138

Weekly changes

         0

+        1

+        1

+      872

-      723

-      152

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    10,386

...

...

    10,386

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

        50

       287

       457

         0

...

...

       794

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       219

         0

         0

         0

         0

         0

       219

Reverse repurchase agreements8

 2,191,320

         0

...

...

...

...

 2,191,320

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 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

 2,538,138

Residential mortgage-backed securities

 2,529,753

Commercial mortgage-backed securities

     8,385

Commitments to buy mortgage-backed securities2

         0

Commitments to sell mortgage-backed securities2

        69

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)

     9,600

     9,404

    10,565

    19,969

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,688

     5,595

TALF II LLC

       809

       794

       845

     1,639

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 March 31, 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

     1,323

-       13

+       83

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

 8,192,587

-   43,790

-  590,769

Securities held outright1

 7,646,946

-   38,619

-  809,081

U.S. Treasury securities

 5,106,460

-   38,620

-  637,884

Bills2

   268,928

-    2,875

-   57,116

Notes and bonds, nominal2

 4,360,825

-   36,098

-  581,133

Notes and bonds, inflation-indexed2

   368,228

         0

-   16,114

Inflation compensation3

   108,479

+      353

+   16,479

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,538,138

         0

-  171,198

Unamortized premiums on securities held outright5

   295,568

-      564

-   37,541

Unamortized discounts on securities held outright5

   -27,258

+       88

-    2,075

Repurchase agreements6

         0

         0

         0

Loans7

   277,332

-    4,694

+  257,929

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

    19,969

+       20

-    6,432

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,595

+        2

+       52

Net portfolio holdings of TALF II LLC8

     1,639

-       76

-      540

Items in process of collection

(0)

        69

+       19

-       30

Bank premises

       447

-       16

-      163

Central bank liquidity swaps9

       219

-       91

-      128

Foreign currency denominated assets10

    18,276

-       48

+      443

Other assets11

    41,951

+    1,391

+    3,944

Total assets

(0)

 8,298,312

-   42,602

-  593,539

Liabilities

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

 2,296,997

+    3,681

+   61,916

Reverse repurchase agreements12

 2,191,320

-   80,551

-  249,330

Deposits

(0)

 3,822,791

+   40,531

-  326,749

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,179,646

+    3,608

-   43,285

U.S. Treasury, General Account

   446,864

+   38,303

-  241,079

Foreign official

     9,697

+       12

+    1,235

Other13

(0)

   186,583

-    1,392

-   43,621

Deferred availability cash items

(0)

       572

+       34

+      271

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

   -69,142

-    6,299

-   75,778

Total liabilities

(0)

 8,255,896

-   42,603

-  594,251

Capital accounts

Capital paid in

    35,631

+        1

+      712

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,416

+        1

+      712

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

     1,323

        27

        39

       120

        46

       188

       102

       243

        26

        40

        87

       161

       244

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

 8,192,587

   156,643

 4,465,616

   132,367

   246,914

   555,959

   542,400

   498,730

   125,537

    61,547

   110,915

   398,071

   897,887

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    19,969

    19,969

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,595

         0

     5,595

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,639

         0

     1,639

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       219

         9

        78

         8

        21

        44

         7

         8

         5

         1

         2

         5

        31

Foreign currency denominated

assets4

    18,276

       786

     6,504

       657

     1,723

     3,700

       548

       636

       411

       116

       194

       385

     2,615

Other assets5

    42,467

       898

    21,394

       748

     1,269

     3,027

     2,663

     2,392

       741

       543

       887

     2,031

     5,874

Interdistrict settlement account

         0

+   23,764

-  183,779

-    4,099

+   71,577

+  190,720

+   16,765

-   12,172

-    2,524

-    2,767

-    7,361

-   11,902

-   78,222

Total assets

 8,298,312

   202,654

 4,322,262

   130,325

   322,302

   754,827

   564,772

   490,941

   124,674

    59,744

   105,176

   390,041

   830,594

Liabilities

Federal Reserve notes, net

 2,296,997

    82,496

   723,428

    54,416

   112,448

   171,861

   356,396

   127,112

    73,017

    34,465

    51,848

   191,993

   317,518

Reverse repurchase agreements6

 2,191,320

    42,336

 1,223,743

    36,116

    67,340

   152,493

   148,449

   136,599

    32,780

    14,858

    28,331

   106,842

   201,432

Deposits

 3,822,791

    66,938

 2,404,879

    38,743

   139,995

   431,365

    57,763

   230,830

    17,881

    10,183

    24,643

    91,387

   308,185

Depository institutions

 3,179,646

    66,925

 1,894,625

    38,741

   139,962

   430,721

    57,734

    99,084

    17,873

    10,114

    24,612

    91,101

   308,154

U.S. Treasury, General Account

   446,864

         0

   446,864

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,697

         2

     9,671

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   186,583

        11

    53,718

         0

        29

       636

        28

   131,744

         7

        69

        31

       284

        25

Earnings remittances due to the U.S. Treasury8

   -76,292

    -1,462

   -51,454

      -618

    -2,196

   -10,181

        -4

    -6,092

      -103

      -145

      -270

    -1,282

    -2,484

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

     7,721

       858

     3,124

       161

       266

       807

       844

       472

       137

       114

       163

       231

       544

Total liabilities

 8,255,896

   200,849

 4,307,395

   128,817

   317,853

   746,344

   563,448

   488,920

   123,712

    59,475

   104,716

   389,171

   825,195

Capital

Capital paid in

    35,631

     1,513

    12,454

     1,264

     3,809

     7,108

     1,121

     1,784

       809

       226

       388

       727

     4,428

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

 8,298,312

   202,654

 4,322,262

   130,325

   322,302

   754,827

   564,772

   490,941

   124,674

    59,744

   105,176

   390,041

   830,594

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

 2,675,843

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

   378,845

Federal Reserve notes to be collateralized

 2,296,997

Collateral held against Federal Reserve notes

 2,296,997

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,280,761

Other assets pledged

         0

Memo:

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

 7,646,946

Less: Face value of securities under reverse repurchase agreements

 2,363,694

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

 5,283,252

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.