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

 7,659,629

-   25,349

-  842,330

 7,644,145

Securities held outright1

 7,210,177

-   23,481

-  921,023

 7,187,450

U.S. Treasury securities

 4,776,057

-   15,110

-  711,394

 4,753,330

Bills2

   216,918

-    6,044

-   72,553

   216,788

Notes and bonds, nominal2

 4,079,671

-    9,010

-  638,032

 4,057,147

Notes and bonds, inflation-indexed2

   365,578

         0

-   11,838

   365,578

Inflation compensation3

   113,890

-       56

+   11,029

   113,816

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,431,773

-    8,371

-  209,629

 2,431,773

Unamortized premiums on securities held outright5

   278,839

-      688

-   35,009

   278,627

Unamortized discounts on securities held outright5

   -25,892

+       76

+    1,691

   -25,798

Repurchase agreements6

         0

-        2

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-        2

         0

         0

Loans

   139,299

-      349

+  122,911

   146,820

Primary credit

     3,006

+      499

-    1,926

     2,159

Secondary credit

         2

+        2

+        2

        12

Seasonal credit

        16

-       13

+        6

         1

Paycheck Protection Program Liquidity Facility

     3,450

-       24

-    7,996

     3,447

Bank Term Funding Program

   132,825

-      813

+  132,825

   141,202

Other credit extensions7

         0

         0

         0

         0

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

    16,163

+       24

-    6,462

    16,173

Net portfolio holdings of Municipal Liquidity Facility LLC8

       213

         0

-    5,357

       213

Net portfolio holdings of TALF II LLC8

        46

         0

-    1,914

        46

Float

      -579

-      334

-       89

      -738

Central bank liquidity swaps9

     1,357

-        2

+      945

     1,357

Other Federal Reserve assets10

    40,006

-      592

+    1,978

    39,994

Foreign currency denominated assets11

    18,631

+       80

-       13

    18,385

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,616

+       14

+      572

    52,616

Total factors supplying reserve funds

 7,747,117

-   25,254

-  841,770

 7,731,388

Currency in circulation12

 2,347,775

+    7,252

+   38,504

 2,348,237

Reverse repurchase agreements13

 1,273,049

+  140,134

-1,483,022

 1,085,975

Foreign official and international accounts

   369,011

+   18,988

+   33,083

   366,078

Others

   904,038

+  121,147

-1,516,104

   719,897

Treasury cash holdings

       395

+        1

+      296

       390

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

   939,172

+   18,739

+  289,340

   913,887

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   758,448

+   27,043

+  334,823

   743,464

Foreign official

     9,692

+        2

+      757

     9,691

Other14

   171,032

-    8,306

-   46,240

   160,731

Treasury contributions to credit facilities15

     7,438

-      411

-    7,909

     7,438

Other liabilities and capital16

   -83,608

-    7,407

-  111,731

   -83,947

Total factors, other than reserve balances,
absorbing reserve funds

 4,484,221

+  158,308

-1,274,522

 4,271,980

Reserve balances with Federal Reserve Banks

 3,262,895

-  183,564

+  432,751

 3,459,408

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 $7.4 billion.

16.

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

Securities held in custody for foreign official and international accounts

 3,388,717

+    2,977

+   64,089

 3,387,236

Marketable U.S. Treasury securities1

 2,961,515

+    3,265

+   45,688

 2,960,091

Federal agency debt and mortgage-backed securities2

   343,788

-      289

+   16,083

   343,707

Other securities3

    83,414

+        1

+    2,318

    83,437

Securities lent to dealers

    42,984

+   10,362

-    4,921

    40,859

Overnight facility4

    42,984

+   10,362

-    4,921

    40,859

U.S. Treasury securities

    42,984

+   10,362

-    4,900

    40,859

Federal agency debt securities

         0

         0

-       21

         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

     1,094

    44,254

    98,029

     3,443

         0

...

   146,820

U.S. Treasury securities2

Holdings

    57,224

   249,347

   554,981

 1,614,938

   771,704

 1,505,136

 4,753,330

Weekly changes

-    8,028

+    8,958

-   18,005

-   12,475

-    7,635

-       32

-   37,217

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

        23

     5,339

    31,904

 2,394,505

 2,431,773

Weekly changes

         0

+        1

         0

+      444

-      446

         0

         0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)5

         0

         0

         0

     7,816

...

...

     7,816

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

     1,357

         0

         0

         0

         0

         0

     1,357

Reverse repurchase agreements6

 1,085,975

         0

...

...

...

...

 1,085,975

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. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBB's statement of condition, 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.

Cash value of agreements.

7.

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

 2,431,773

Residential mortgage-backed securities

 2,423,545

Commercial mortgage-backed securities

     8,228

Commitments to buy mortgage-backed securities2

         0

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)

     7,434

     7,304

     8,869

    16,173

Municipal Liquidity Facility LLC

         0

         0

       213

       213

TALF II LLC

         0

         0

        46

        46

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.

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. 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

     1,426

+        4

+      236

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

 7,587,100

-   32,639

-  815,820

Securities held outright1

 7,187,450

-   37,217

-  914,050

U.S. Treasury securities

 4,753,330

-   37,217

-  704,421

Bills2

   216,788

-    5,566

-   72,550

Notes and bonds, nominal2

 4,057,147

-   31,534

-  631,016

Notes and bonds, inflation-indexed2

   365,578

         0

-   11,838

Inflation compensation3

   113,816

-      117

+   10,983

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,431,773

         0

-  209,629

Unamortized premiums on securities held outright5

   278,627

-      544

-   34,916

Unamortized discounts on securities held outright5

   -25,798

+       86

+    1,681

Repurchase agreements6

         0

         0

-        1

Loans7

   146,820

+    5,035

+  131,464

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

    16,173

+       17

-    6,465

Net portfolio holdings of Municipal Liquidity Facility LLC8

       213

         0

-    5,358

Net portfolio holdings of TALF II LLC8

        46

         0

-    1,911

Items in process of collection

(0)

        92

-       98

-       20

Bank premises

       429

-        9

-       32

Central bank liquidity swaps9

     1,357

-        2

+      945

Foreign currency denominated assets10

    18,385

-      284

-      138

Other assets11

    39,567

+    1,255

+    2,161

Total assets

(0)

 7,681,024

-   31,757

-  826,405

Liabilities

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

 2,297,432

+    3,611

+   39,800

Reverse repurchase agreements12

 1,085,975

-   79,599

-1,475,908

Deposits

(0)

 4,373,296

+   51,740

+  728,798

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,459,409

+   25,195

+  417,480

U.S. Treasury, General Account

   743,464

+   30,400

+  363,844

Foreign official

     9,691

+        1

+      756

Other13

(0)

   160,731

-    3,857

-   53,283

Deferred availability cash items

(0)

       829

+      372

+      514

Treasury contributions to credit facilities14

     7,438

         0

-    7,909

Other liabilities and accrued dividends15

  -126,798

-    7,883

-  112,728

Total liabilities

(0)

 7,638,174

-   31,758

-  827,432

Capital accounts

Capital paid in

    36,065

         0

+    1,027

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    42,850

         0

+    1,027

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 $7.4 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

     1,426

        48

        39

       133

        54

       177

       103

       252

        33

        54

        96

       178

       259

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

 7,587,100

   150,255

 4,165,819

   125,018

   231,873

   529,652

   515,518

   473,453

   119,489

    58,414

   106,852

   377,422

   733,334

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    16,173

    16,173

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

       213

         0

       213

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

        46

         0

        46

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

     1,357

        58

       483

        49

       128

       275

        41

        47

        31

         9

        14

        29

       194

Foreign currency denominated

assets4

    18,385

       791

     6,543

       660

     1,734

     3,722

       551

       640

       414

       116

       195

       388

     2,631

Other assets5

    40,087

       932

    18,617

       748

     1,237

     3,088

     4,111

     2,373

       764

       641

       983

     2,091

     4,501

Interdistrict settlement account

         0

+   10,190

-   57,048

-   13,758

+   58,573

+   84,272

-   30,072

-   70,411

-    8,394

-    5,039

-   13,288

-   41,923

+   86,898

Total assets

 7,681,024

   179,005

 4,139,888

   113,375

   294,351

   622,374

   492,539

   407,458

   112,815

    54,458

    95,305

   339,474

   829,983

Liabilities

Federal Reserve notes, net

 2,297,432

    79,998

   745,257

    50,620

   110,282

   161,167

   356,780

   123,424

    73,108

    33,021

    47,946

   189,837

   325,992

Reverse repurchase agreements6

 1,085,975

    20,981

   606,463

    17,898

    33,372

    75,572

    73,568

    67,696

    16,245

     7,363

    14,041

    52,949

    99,826

Deposits

 4,373,296

    69,936

 2,856,246

    44,443

   151,053

   397,169

    59,764

   223,657

    22,427

    13,914

    33,129

    97,147

   404,412

Depository institutions

 3,459,409

    69,881

 2,046,519

    44,442

   151,018

   396,417

    59,736

   120,641

    22,413

    13,819

    33,099

    97,053

   404,372

U.S. Treasury, General Account

   743,464

         0

   743,464

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,691

         2

     9,666

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   160,731

        53

    56,597

         0

        32

       744

        27

   103,014

        13

        96

        30

        93

        33

Earnings remittances due to the U.S. Treasury8

  -134,541

    -2,572

   -86,073

    -1,262

    -5,109

   -20,788

        -3

    -9,779

       -65

      -217

      -495

    -1,706

    -6,471

Treasury contributions to credit facilities9

     7,438

     7,438

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     8,572

     1,427

     3,111

       162

       275

       765

     1,044

       454

       135

       108

       218

       237

       636

Total liabilities

 7,638,174

   177,208

 4,125,005

   111,861

   289,874

   613,884

   491,154

   405,451

   111,850

    54,189

    94,840

   338,463

   824,395

Capital

Capital paid in

    36,065

     1,505

    12,469

     1,270

     3,837

     7,116

     1,182

     1,770

       812

       226

       393

       867

     4,617

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

 7,681,024

   179,005

 4,139,888

   113,375

   294,351

   622,374

   492,539

   407,458

   112,815

    54,458

    95,305

   339,474

   829,983

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 $7.4 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

 2,706,506

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

   409,073

Federal Reserve notes to be collateralized

 2,297,432

Collateral held against Federal Reserve notes

 2,297,432

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,281,196

Other assets pledged

         0

Memo:

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

 7,187,450

Less: Face value of securities under reverse repurchase agreements

 1,223,855

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

 5,963,595

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.