Board of Governors of the Federal Reserve System

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

Reserve Bank credit

 7,819,445

-    2,584

-  809,653

 7,779,099

Securities held outright1

 7,333,947

-    4,114

-  910,305

 7,307,897

U.S. Treasury securities

 4,868,669

-    4,138

-  695,180

 4,842,619

Bills2

   231,266

         0

-   64,793

   231,266

Notes and bonds, nominal2

 4,158,603

-    4,421

-  633,032

 4,132,451

Notes and bonds, inflation-indexed2

   365,405

+        3

-   10,381

   365,405

Inflation compensation3

   113,395

+      279

+   13,026

   113,497

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,462,932

+       25

-  215,124

 2,462,931

Unamortized premiums on securities held outright5

   283,416

-      501

-   35,674

   283,220

Unamortized discounts on securities held outright5

   -26,612

+       24

+      574

   -26,526

Repurchase agreements6

        14

+       13

+       13

        76

Foreign official

         0

         0

         0

         0

Others

        14

+       13

+       13

        76

Loans

   154,248

+    1,223

+  137,136

   154,584

Primary credit

     2,241

-      130

-    2,085

     2,241

Secondary credit

         0

         0

         0

         0

Seasonal credit

        27

-        8

+        7

        26

Paycheck Protection Program Liquidity Facility

     4,162

-      126

-    8,604

     4,146

Bank Term Funding Program

   112,590

+    1,491

+  112,590

   112,942

Other credit extensions7

    35,229

-        4

+   35,229

    35,229

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

    19,115

-       32

-    6,409

    18,807

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,647

+        3

+       70

     5,649

Net portfolio holdings of TALF II LLC8

     1,021

+        2

-    1,084

     1,021

Float

      -166

+       23

+       14

      -197

Central bank liquidity swaps9

       287

+       51

+       85

       287

Other Federal Reserve assets10

    48,527

+      724

+    5,925

    34,281

Foreign currency denominated assets11

    17,815

-       40

+      145

    17,955

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,518

+       14

+      512

    52,518

Total factors supplying reserve funds

 7,906,018

-    2,611

-  808,997

 7,865,813

Currency in circulation12

 2,325,930

+      284

+   31,896

 2,327,100

Reverse repurchase agreements13

 1,330,683

-   30,903

-1,196,339

 1,267,973

Foreign official and international accounts

   324,357

+   14,830

-   37,950

   323,732

Others

 1,006,326

-   45,734

-1,158,389

   944,241

Treasury cash holdings

       387

+       10

+      287

       392

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

   908,144

-   36,591

+  202,032

   837,304

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   738,562

-   34,124

+  235,580

   669,976

Foreign official

     9,689

-       36

+    2,253

     9,689

Other14

   159,892

-    2,431

-   35,802

   157,638

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -64,197

+    1,784

-  105,728

   -63,638

Total factors, other than reserve balances,
absorbing reserve funds

 4,514,305

-   65,416

-1,072,433

 4,382,488

Reserve balances with Federal Reserve Banks

 3,391,713

+   62,805

+  263,436

 3,483,325

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

 3,430,575

-    1,224

+  122,315

 3,416,304

Marketable U.S. Treasury securities1

 2,994,714

-      846

+  100,923

 2,979,508

Federal agency debt and mortgage-backed securities2

   353,327

-      514

+   23,061

   353,087

Other securities3

    82,533

+      135

-    1,670

    83,709

Securities lent to dealers

    36,622

+    2,033

-    5,683

    37,265

Overnight facility4

    36,622

+    2,033

-    5,683

    37,265

U.S. Treasury securities

    36,622

+    2,033

-    5,681

    37,265

Federal agency debt securities

         0

         0

-        2

         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

    38,040

     2,741

   109,661

     4,142

         0

...

   154,584

U.S. Treasury securities2

Holdings

    74,094

   201,695

   580,574

 1,696,601

   784,028

 1,505,626

 4,842,619

Weekly changes

+   12,507

-   45,086

-       51

+   24,939

-   23,900

+    1,294

-   30,295

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

        19

     6,378

    36,405

 2,420,128

 2,462,931

Weekly changes

         0

         0

         0

         0

         0

+       24

+       24

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     9,048

...

...

     9,048

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

     2,907

         0

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       145

         0

         0

...

...

       145

Repurchase agreements8

        76

         0

...

...

...

...

        76

Central bank liquidity swaps9

       287

         0

         0

         0

         0

         0

       287

Reverse repurchase agreements8

 1,267,973

         0

...

...

...

...

 1,267,973

Term deposits

         0

         0

         0

...

...

...

         0

1.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF), Bank Term Funding Program, and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Additionally, the Within 15 days category includes outstanding loans to depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, pledged collateral securing the loans, and the FDIC repayment guarantees. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with consolidation under generally accepted accounting principles.

2.

Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.

3.

Face value.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5.

Book value of the loan participations held by the MS Facilities LLC.

6.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

7.

Book value of the loans held by the TALF II LLC.

8.

Cash value of agreements.

9.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to
the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign
central bank.

Mortgage-backed securities held outright1

 2,462,931

Residential mortgage-backed securities

 2,454,642

Commercial mortgage-backed securities

     8,289

Commitments to buy mortgage-backed securities2

        76

Commitments to sell mortgage-backed securities2

        15

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)

     7,948

     8,271

    10,536

    18,807

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,742

     5,649

TALF II LLC

       200

       145

       877

     1,021

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 September 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

     1,441

-       10

+      254

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

 7,719,251

-   30,788

-  807,162

Securities held outright1

 7,307,897

-   30,271

-  906,382

U.S. Treasury securities

 4,842,619

-   30,295

-  692,432

Bills2

   231,266

         0

-   64,793

Notes and bonds, nominal2

 4,132,451

-   30,573

-  630,313

Notes and bonds, inflation-indexed2

   365,405

         0

-   10,381

Inflation compensation3

   113,497

+      278

+   13,055

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,462,931

+       24

-  213,950

Unamortized premiums on securities held outright5

   283,220

-      531

-   35,643

Unamortized discounts on securities held outright5

   -26,526

+       21

+      730

Repurchase agreements6

        76

+       76

+       66

Loans7

   154,584

-       83

+  134,067

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

    18,807

-      360

-    6,384

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,649

+        3

+       70

Net portfolio holdings of TALF II LLC8

     1,021

+        1

-    1,085

Items in process of collection

(0)

        61

-       12

-       52

Bank premises

       433

+        3

-      178

Central bank liquidity swaps9

       287

+       51

+       85

Foreign currency denominated assets10

    17,955

+      143

+       74

Other assets11

    33,848

-   14,732

+    3,746

Total assets

(0)

 7,814,991

-   45,700

-  810,629

Liabilities

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

 2,276,410

+      799

+   33,119

Reverse repurchase agreements12

 1,267,973

-   75,884

-1,208,118

Deposits

(0)

 4,320,629

+   27,510

+  474,150

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,483,325

+  122,897

+  306,526

U.S. Treasury, General Account

   669,976

-   93,483

+  197,791

Foreign official

     9,689

+        2

+    2,253

Other13

(0)

   157,638

-    1,907

-   32,422

Deferred availability cash items

(0)

       258

-       22

-       11

Treasury contributions to credit facilities14

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

  -106,414

+    1,896

-  106,378

Total liabilities

(0)

 7,772,215

-   45,700

-  811,820

Capital accounts

Capital paid in

    35,991

         0

+    1,190

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,776

         0

+    1,190

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

     1,441

        56

        40

       131

        53

       181

       110

       256

        28

        48

        98

       179

       261

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

 7,719,251

   150,541

 4,231,859

   127,072

   235,453

   533,885

   519,787

   477,220

   120,482

    58,840

   106,205

   382,175

   775,732

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    18,807

    18,807

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,649

         0

     5,649

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,021

         0

     1,021

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       287

        12

       102

        10

        27

        58

         9

        10

         6

         2

         3

         6

        41

Foreign currency denominated

assets4

    17,955

       773

     6,389

       645

     1,693

     3,635

       538

       625

       404

       113

       191

       379

     2,569

Other assets5

    34,342

       789

    14,707

       633

     1,005

     2,541

     3,487

     1,924

       889

       521

       869

     1,804

     5,174

Interdistrict settlement account

         0

+   12,374

-  100,713

-   13,887

+   52,809

+  210,863

-   27,882

-   77,995

-   10,442

-    4,103

-   15,277

-   57,224

+   31,477

Total assets

 7,814,991

   183,909

 4,164,230

   115,130

   291,792

   752,351

   498,335

   403,144

   111,846

    55,686

    92,541

   328,607

   817,419

Liabilities

Federal Reserve notes, net

 2,276,410

    78,508

   734,923

    50,964

   110,492

   162,218

   353,040

   123,828

    72,469

    32,985

    48,002

   188,561

   320,420

Reverse repurchase agreements6

 1,267,973

    24,497

   708,100

    20,898

    38,965

    88,238

    85,898

    79,041

    18,968

     8,597

    16,394

    61,823

   116,556

Deposits

 4,320,629

    70,264

 2,773,903

    42,640

   141,702

   509,882

    57,348

   206,462

    19,357

    13,897

    27,914

    78,527

   378,732

Depository institutions

 3,483,325

    70,209

 2,040,643

    42,639

   141,667

   509,298

    57,320

   103,470

    19,337

    13,780

    27,884

    78,379

   378,699

U.S. Treasury, General Account

   669,976

         0

   669,976

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,689

         2

     9,664

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   157,638

        53

    53,620

         0

        31

       576

        27

   102,990

        19

       117

        30

       147

        28

Earnings remittances due to the U.S. Treasury8

  -118,699

    -2,224

   -76,977

    -1,111

    -4,322

   -18,002

        69

    -8,882

       -75

      -197

      -448

    -1,635

    -4,896

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

    12,543

     1,382

     5,724

       226

       478

     1,523

       596

       690

       162

       135

       214

       321

     1,092

Total liabilities

 7,772,215

   182,112

 4,149,347

   113,616

   287,315

   743,858

   496,950

   401,140

   110,881

    55,417

    92,076

   327,597

   811,905

Capital

Capital paid in

    35,991

     1,505

    12,469

     1,270

     3,837

     7,118

     1,182

     1,768

       812

       226

       393

       867

     4,543

Surplus

     6,785

       292

     2,414

       244

       640

     1,374

       203

       236

       153

        43

        72

       143

       971

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 7,814,991

   183,909

 4,164,230

   115,130

   291,792

   752,351

   498,335

   403,144

   111,846

    55,686

    92,541

   328,607

   817,419

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

 2,700,097

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

   423,687

Federal Reserve notes to be collateralized

 2,276,410

Collateral held against Federal Reserve notes

 2,276,410

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,260,173

Other assets pledged

         0

Memo:

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

 7,307,973

Less: Face value of securities under reverse repurchase agreements

 1,408,232

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

 5,899,741

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.