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

August 11, 2022

Reserve Bank credit

 8,841,412

-    6,329

+  636,470

 8,843,234

Securities held outright1

 8,439,944

-    7,829

+  763,148

 8,440,487

U.S. Treasury securities

 5,720,038

-    7,905

+  430,374

 5,720,572

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,924,116

-    9,339

+  368,994

 4,924,116

Notes and bonds, inflation-indexed2

   374,719

         0

+   24,577

   374,719

Inflation compensation3

    95,159

+    1,434

+   36,803

    95,692

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,717,558

+       75

+  332,773

 2,717,568

Unamortized premiums on securities held outright5

   329,795

-      507

-   23,217

   329,600

Unamortized discounts on securities held outright5

   -26,002

-       67

-   11,204

   -25,962

Repurchase agreements6

         0

-        1

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-        1

         0

         0

Loans

    18,569

-      460

-   64,773

    18,755

Primary credit

     2,644

-      162

+    2,372

     2,934

Secondary credit

         0

         0

         0

         0

Seasonal credit

        26

+        9

+        9

        36

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    15,898

-      307

-   67,155

    15,785

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   17,912

         0

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7

    26,140

+       21

-    4,428

    26,154

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,549

+        1

-    4,214

     5,551

Net portfolio holdings of TALF II LLC7

     2,157

-        3

-    2,356

     2,158

Float

      -138

+      329

-       31

      -141

Central bank liquidity swaps8

       191

-       22

-      293

       191

Other Federal Reserve assets9

    45,205

+    2,206

+    1,748

    46,442

Foreign currency denominated assets10

    17,933

-       70

-    3,235

    18,165

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,230

+       14

+      592

    51,230

Total factors supplying reserve funds

 8,926,815

-    6,386

+  633,826

 8,928,870

Currency in circulation11

 2,275,554

+    1,139

+   87,093

 2,276,462

Reverse repurchase agreements12

 2,453,518

-   62,727

+1,210,776

 2,445,699

Foreign official and international accounts

   262,627

-   19,244

-   11,313

   268,053

Others

 2,190,890

-   43,484

+1,222,088

 2,177,646

Treasury cash holdings

       101

-        3

+       55

       104

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

   780,912

-   35,744

+  101,613

   780,455

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   557,265

-   36,850

+  122,346

   561,140

Foreign official

     9,245

+      641

+    1,324

     8,945

Other13

   214,402

+      465

-   22,057

   210,370

Treasury contributions to credit facilities14

    17,940

         0

-   22,338

    17,940

Other liabilities and capital15

    50,642

+    1,813

-    1,013

    50,717

Total factors, other than reserve balances,
absorbing reserve funds

 5,578,668

-   95,521

+1,376,185

 5,571,377

Reserve balances with Federal Reserve Banks

 3,348,147

+   89,136

-  742,359

 3,357,493

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 assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

8.

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.

9.

Includes bank premises, accrued interest, and other accounts receivable.

10.

Revalued daily at current foreign currency exchange rates.

11.

Estimated.

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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

15.

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

Securities held in custody for foreign official and international accounts

 3,378,007

+   11,079

-  118,265

 3,377,506

Marketable U.S. Treasury securities1

 2,981,074

+   10,732

-   80,571

 2,980,510

Federal agency debt and mortgage-backed securities2

   313,432

+        8

-   28,891

   313,433

Other securities3

    83,501

+      339

-    8,804

    83,562

Securities lent to dealers

    41,658

+    1,580

+   11,295

    42,001

Overnight facility4

    41,658

+    1,580

+   11,295

    42,001

U.S. Treasury securities

    41,658

+    1,580

+   11,295

    42,001

Federal agency debt securities

         0

         0

         0

         0

1.

Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2.

Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.

3.

Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4.

Face value. Fully collateralized by U.S. Treasury securities.

Loans1

     1,274

     1,709

         0

    15,772

         0

...

    18,755

U.S. Treasury securities2

Holdings

   136,625

   279,513

   809,524

 2,039,330

 1,018,180

 1,437,400

 5,720,572

Weekly changes

-    4,277

+   10,279

-    5,936

+      565

+      446

+      375

+    1,453

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

        57

     2,414

    57,907

 2,657,188

 2,717,568

Weekly changes

         0

         0

         0

         0

+      117

-      101

+       16

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    13,487

...

...

    13,487

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

        64

     1,026

...

...

     1,090

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       191

         0

         0

         0

         0

         0

       191

Reverse repurchase agreements8

 2,445,699

         0

...

...

...

...

 2,445,699

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) and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Loans exclude the loans from the Federal Reserve Bank of 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

 2,717,568

Residential mortgage-backed securities

 2,708,844

Commercial mortgage-backed securities

     8,724

Commitments to buy mortgage-backed securities2

    26,224

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         4

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)

    13,204

    11,688

    14,465

    26,154

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,643

     5,551

TALF II LLC

     1,126

     1,090

     1,068

     2,158

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, 2022.

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

     1,295

+       12

+       45

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

 8,762,880

+      843

+  651,521

Securities held outright1

 8,440,487

+    1,469

+  749,860

U.S. Treasury securities

 5,720,572

+    1,453

+  417,077

Bills2

   326,044

         0

         0

Notes and bonds, nominal2

 4,924,116

         0

+  355,477

Notes and bonds, inflation-indexed2

   374,719

         0

+   24,577

Inflation compensation3

    95,692

+    1,452

+   37,022

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,717,568

+       16

+  332,783

Unamortized premiums on securities held outright5

   329,600

-      494

-   23,435

Unamortized discounts on securities held outright5

   -25,962

-       24

-   11,159

Repurchase agreements6

         0

         0

         0

Loans7

    18,755

-      107

-   63,745

Net portfolio holdings of Corporate Credit Facilities LLC8

         0

         0

-   17,114

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

    26,154

+       16

-    4,421

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,551

+        2

-    4,213

Net portfolio holdings of TALF II LLC8

     2,158

+        1

-    2,355

Items in process of collection

(0)

        64

+       11

-       12

Bank premises

       607

+        7

-    1,058

Central bank liquidity swaps9

       191

-       22

-      301

Foreign currency denominated assets10

    18,165

+      288

-    2,959

Other assets11

    45,836

+    3,358

+    2,848

Total assets

(0)

 8,879,138

+    4,518

+  621,979

Liabilities

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

 2,226,628

+      678

+   86,813

Reverse repurchase agreements12

 2,445,699

-    2,141

+1,177,701

Deposits

(0)

 4,137,948

+    3,694

-  620,872

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,357,494

+   14,975

-  769,796

U.S. Treasury, General Account

   561,140

-    5,437

+  171,393

Foreign official

     8,945

-      750

+    1,314

Other13

(0)

   210,370

-    5,094

-   23,781

Deferred availability cash items

(0)

       205

-       19

-       26

Treasury contributions to credit facilities14

    17,940

         0

-   22,338

Other liabilities and accrued dividends15

     8,922

+    2,221

-    1,360

Total liabilities

(0)

 8,837,343

+    4,434

+  619,918

Capital accounts

Capital paid in

    35,010

+       84

+    2,061

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    41,795

+       84

+    2,061

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 Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

15.

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

Assets

Gold certificates and special drawing rights certificates

    16,237

       544

     5,271

       537

       763

     1,203

     2,247

     1,093

       461

       263

       440

     1,279

     2,136

Coin

     1,295

        21

        25

       110

        54

       193

       109

       232

        30

        36

        94

       161

       231

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

 8,762,880

   175,132

 4,486,659

   201,269

   352,333

   609,444

   572,218

   598,134

   137,396

    67,693

   136,644

   448,407

   977,552

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    26,154

    26,154

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,551

         0

     5,551

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,158

         0

     2,158

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       191

         8

        67

         7

        19

        38

         6

         7

         4

         1

         2

         5

        27

Foreign currency denominated

assets4

    18,165

       782

     6,328

       674

     1,775

     3,642

       591

       688

       366

        91

       187

       436

     2,604

Other assets5

    46,507

     1,023

    22,684

     1,152

     1,916

     3,534

     3,090

     3,122

       879

       539

     1,028

     2,451

     5,088

Interdistrict settlement account

         0

-   21,124

+  322,664

-   27,067

-   68,931

-   20,015

+    3,915

-   50,760

-    3,616

-    1,030

-   13,090

-   18,845

-  102,101

Total assets

 8,879,138

   182,541

 4,851,405

   176,681

   287,929

   598,039

   582,177

   552,516

   135,519

    67,594

   125,306

   433,894

   885,538

Liabilities

Federal Reserve notes, net

 2,226,628

    76,384

   703,817

    57,549

   102,127

   151,387

   344,187

   125,783

    70,663

    33,919

    57,421

   193,420

   309,971

Reverse repurchase agreements6

 2,445,699

    48,963

 1,253,914

    56,186

    97,664

   170,432

   160,014

   167,187

    38,411

    17,341

    38,178

   125,390

   272,020

Deposits

 4,137,948

    42,172

 2,870,498

    61,156

    83,774

   266,698

    75,872

   257,339

    25,305

    15,899

    29,028

   113,555

   296,654

Depository institutions

 3,357,494

    42,161

 2,250,779

    61,154

    83,744

   266,143

    75,833

    97,608

    25,295

    15,761

    28,987

   113,410

   296,618

U.S. Treasury, General Account

   561,140

         0

   561,140

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,945

         2

     8,919

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   210,370

         9

    49,660

         0

        27

       546

        38

   159,730

         9

       138

        40

       143

        30

Earnings remittances due to the U.S. Treasury8

     1,688

        36

       718

        47

       106

       124

       162

        95

        30

         6

        22

       104

       237

Treasury contributions to credit facilities9

    17,940

    13,891

     4,049

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     7,440

      -708

     3,801

       245

       286

       952

       617

       608

       195

       171

       224

       355

       693

Total liabilities

 8,837,343

   180,738

 4,836,798

   175,183

   283,957

   589,593

   580,851

   551,013

   134,603

    67,336

   124,873

   432,824

   879,575

Capital

Capital paid in

    35,010

     1,511

    12,244

     1,247

     3,309

     7,086

     1,105

     1,246

       780

       223

       363

       907

     4,990

Surplus

     6,785

       292

     2,363

       252

       663

     1,361

       221

       257

       137

        34

        70

       163

       973

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 8,879,138

   182,541

 4,851,405

   176,681

   287,929

   598,039

   582,177

   552,516

   135,519

    67,594

   125,306

   433,894

   885,538

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 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.

Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit 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.

9.

Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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 May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility. The assets of the CCF 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 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 CCF LLC, 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

 2,552,134

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

   325,506

Federal Reserve notes to be collateralized

 2,226,628

Collateral held against Federal Reserve notes

 2,226,628

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,210,391

Other assets pledged

         0

Memo:

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

 8,440,487

Less: Face value of securities under reverse repurchase agreements

 2,499,082

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

 5,941,405

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.