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

 8,586,475

-   12,692

-  319,639

 8,578,046

Securities held outright1

 7,877,511

-    6,268

-  605,424

 7,877,741

U.S. Treasury securities

 5,280,684

-    6,268

-  481,002

 5,280,914

Bills2

   280,966

         0

-   45,078

   280,966

Notes and bonds, nominal2

 4,517,796

-    6,977

-  446,083

 4,517,796

Notes and bonds, inflation-indexed2

   377,024

         0

-   13,816

   377,024

Inflation compensation3

   104,897

+      708

+   23,974

   105,127

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,594,480

         0

-  124,422

 2,594,480

Unamortized premiums on securities held outright5

   304,056

-      617

-   39,725

   303,880

Unamortized discounts on securities held outright5

   -27,402

+       81

-    5,742

   -27,314

Repurchase agreements6

    34,286

-   10,000

+   34,277

    30,000

Foreign official

    34,286

-   10,000

+   34,286

    30,000

Others

         0

         0

-        9

         0

Loans

   326,597

+      247

+  303,337

   321,087

Primary credit

    67,921

-    3,117

+   67,478

    67,633

Secondary credit

         0

         0

         0

         0

Seasonal credit

         1

+        1

+        1

         1

Paycheck Protection Program Liquidity Facility

     9,068

-      198

-   13,749

     9,000

Bank Term Funding Program

    76,707

+    8,551

+   76,707

    71,837

Other credit extensions7

   172,900

-    4,989

+  172,900

   172,615

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

    22,330

+       18

-    6,547

    22,351

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,605

+        2

-    1,049

     5,607

Net portfolio holdings of TALF II LLC8

     1,924

-        2

-      587

     1,925

Float

      -174

+      208

-       41

      -250

Central bank liquidity swaps9

       484

-       71

+      251

       484

Other Federal Reserve assets10

    41,259

+    3,710

+    1,613

    42,535

Foreign currency denominated assets11

    18,850

-       48

-      350

    18,898

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    51,667

+       14

+      728

    51,667

Total factors supplying reserve funds

 8,673,234

-   12,725

-  319,261

 8,664,852

Currency in circulation12

 2,323,990

+      712

+   53,783

 2,324,274

Reverse repurchase agreements13

 2,592,075

-   66,476

+  590,258

 2,676,727

Foreign official and international accounts

   372,735

+   11,389

+  123,896

   372,865

Others

 2,219,340

-   77,866

+  466,362

 2,303,862

Treasury cash holdings

       168

+        1

+       92

       170

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

   326,574

-   64,041

-  500,919

   299,511

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   109,208

-   59,585

-  438,100

    86,554

Foreign official

    10,267

+      622

+    2,405

     9,758

Other14

   207,098

-    5,078

-   65,225

   203,199

Treasury contributions to credit facilities15

    15,347

         0

-    5,911

    15,347

Other liabilities and capital16

     1,092

-    4,851

-   46,907

     1,269

Total factors, other than reserve balances,
absorbing reserve funds

 5,259,245

-  134,656

+   90,394

 5,317,299

Reserve balances with Federal Reserve Banks

 3,413,989

+  121,931

-  409,655

 3,347,553

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 established by the Federal Deposit Insurance Corporation (FDIC). The Federal Reserve Banks' loans to these depository institutions are secured by 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 billion.

16.

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

Securities held in custody for foreign official and international accounts

 3,330,948

+   11,731

-  130,040

 3,334,735

Marketable U.S. Treasury securities1

 2,910,038

+   11,972

-  140,218

 2,913,806

Federal agency debt and mortgage-backed securities2

   340,167

+       70

+   11,434

   340,167

Other securities3

    80,743

-      311

-    1,256

    80,761

Securities lent to dealers

    47,709

-    2,323

+    2,966

    47,334

Overnight facility4

    47,709

-    2,323

+    2,966

    47,334

U.S. Treasury securities

    47,682

-    2,341

+    2,939

    47,318

Federal agency debt securities

        28

+       19

+       28

        16

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

   178,388

    62,717

    70,987

     8,994

         0

...

   321,087

U.S. Treasury securities2

Holdings

    66,708

   354,431

   644,689

 1,843,220

   892,742

 1,479,124

 5,280,914

Weekly changes

-      673

+    1,416

-      709

+      257

+      171

+      165

+      627

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

         3

        23

     7,995

    46,826

 2,539,633

 2,594,480

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

    11,114

...

...

    11,114

Municipal notes held by Municipal

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

       927

         0

...

...

       927

Repurchase agreements8

    30,000

         0

...

...

...

...

    30,000

Central bank liquidity swaps9

       484

         0

         0

         0

         0

         0

       484

Reverse repurchase agreements8

 2,676,727

         0

...

...

...

...

 2,676,727

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 FDIC-established depository institutions that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, 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

 2,594,480

Residential mortgage-backed securities

 2,586,046

Commercial mortgage-backed securities

     8,434

Commitments to buy mortgage-backed securities2

       165

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         0

1.

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

2.

Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

MS Facilities LLC (Main Street Lending Program)

    10,514

    10,071

    12,280

    22,351

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,700

     5,607

TALF II LLC

       958

       927

       998

     1,925

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 December 31, 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

     1,309

+       11

+       19

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

 8,505,394

-   21,203

-  344,154

Securities held outright1

 7,877,741

+      627

-  626,845

U.S. Treasury securities

 5,280,914

+      627

-  481,140

Bills2

   280,966

         0

-   45,078

Notes and bonds, nominal2

 4,517,796

         0

-  446,083

Notes and bonds, inflation-indexed2

   377,024

         0

-   13,816

Inflation compensation3

   105,127

+      627

+   23,835

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,594,480

         0

-  145,705

Unamortized premiums on securities held outright5

   303,880

-      515

-   39,679

Unamortized discounts on securities held outright5

   -27,314

+       48

-    5,458

Repurchase agreements6

    30,000

-   10,000

+   29,999

Loans7

   321,087

-   11,362

+  297,829

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

    22,351

+       25

-    6,535

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,607

+        3

-    1,048

Net portfolio holdings of TALF II LLC8

     1,925

+        2

-      587

Items in process of collection

(0)

        58

+        4

-       28

Bank premises

       453

         0

-      664

Central bank liquidity swaps9

       484

+        6

+      251

Foreign currency denominated assets10

    18,898

-       37

-      254

Other assets11

    42,082

+    3,603

+    2,309

Total assets

(0)

 8,614,797

-   17,587

-  350,690

Liabilities

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

 2,274,081

-       79

+   52,444

Reverse repurchase agreements12

 2,676,727

+   77,324

+  606,395

Deposits

(0)

 3,647,064

-   89,258

-  956,085

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,347,553

-   33,798

-  445,766

U.S. Treasury, General Account

    86,554

-   54,134

-  456,982

Foreign official

     9,758

+       77

+      586

Other13

(0)

   203,199

-    1,404

-   53,923

Deferred availability cash items

(0)

       308

-      263

+       38

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

   -40,933

-    5,311

-   48,555

Total liabilities

(0)

 8,572,595

-   17,587

-  351,674

Capital accounts

Capital paid in

    35,417

         0

+      984

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,202

         0

+      984

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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

     1,309

        22

        39

       117

        43

       189

        88

       242

        25

        39

        88

       160

       256

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

 8,505,394

   165,754

 4,252,390

   188,704

   329,865

   572,853

   538,022

   561,661

   131,017

    65,260

   134,181

   426,005

 1,139,681

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    22,351

    22,351

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,607

         0

     5,607

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,925

         0

     1,925

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       484

        21

       172

        17

        46

        98

        14

        17

        11

         3

         5

        10

        69

Foreign currency denominated

assets4

    18,898

       813

     6,725

       679

     1,782

     3,826

       567

       658

       425

       119

       201

       398

     2,704

Other assets5

    42,593

       948

    20,815

     1,024

     1,688

     3,211

     2,715

     2,754

       759

       518

       947

     2,175

     5,038

Interdistrict settlement account

         0

+    4,431

-   45,930

-   35,985

+    6,598

+  259,171

+   54,387

-   16,799

-    4,228

+      156

-   20,524

+    5,760

-  207,036

Total assets

 8,614,797

   194,885

 4,247,013

   155,094

   340,785

   840,551

   598,040

   549,625

   128,470

    66,358

   115,338

   435,788

   942,849

Liabilities

Federal Reserve notes, net

 2,274,081

    77,859

   720,681

    52,829

   111,767

   174,356

   355,571

   124,788

    68,729

    32,569

    47,921

   189,655

   317,358

Reverse repurchase agreements6

 2,676,727

    53,588

 1,372,362

    61,493

   106,889

   186,532

   175,129

   182,980

    42,039

    18,979

    41,784

   137,235

   297,716

Deposits

 3,647,064

    50,532

 2,166,006

    39,365

   118,924

   475,235

    65,442

   243,156

    16,657

    14,533

    25,161

   108,553

   323,500

Depository institutions

 3,347,553

    50,522

 2,014,380

    39,363

   118,892

   474,504

    65,411

    96,287

    16,648

    14,484

    25,130

   108,459

   323,473

U.S. Treasury, General Account

    86,554

         0

    86,554

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,758

         2

     9,732

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   203,199

         8

    55,340

         0

        28

       723

        30

   146,867

         8

        49

        30

        93

        22

Earnings remittances due to the U.S. Treasury8

   -48,337

      -913

   -34,073

      -270

    -1,026

    -5,130

         9

    -3,782

       -45

       -99

      -145

      -698

    -2,165

Treasury contributions to credit facilities9

    15,347

    11,453

     3,894

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     7,711

       567

     3,283

       170

       272

     1,079

       589

       483

       133

       109

       162

       253

       611

Total liabilities

 8,572,595

   193,086

 4,232,153

   153,588

   336,827

   832,071

   596,739

   547,626

   127,513

    66,091

   114,883

   434,998

   937,020

Capital

Capital paid in

    35,417

     1,507

    12,446

     1,262

     3,319

     7,106

     1,098

     1,763

       805

       224

       383

       648

     4,858

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

 8,614,797

   194,885

 4,247,013

   155,094

   340,785

   840,551

   598,040

   549,625

   128,470

    66,358

   115,338

   435,788

   942,849

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 billion.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities 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

 2,635,634

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

   361,552

Federal Reserve notes to be collateralized

 2,274,081

Collateral held against Federal Reserve notes

 2,274,081

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,257,845

Other assets pledged

         0

Memo:

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

 7,907,741

Less: Face value of securities under reverse repurchase agreements

 2,809,699

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

 5,098,042

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.