Federal Reserve Balance Sheet: Factors Affecting Reserve Balances - H.4.1

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below.

During the week of November 9, the “Build Your Package” feature in the Data Download Program (DDP) will be removed in preparation for the eventual retirement of the DDP. Users can access data and expanded download options through the Federal Reserve Bank of St. Louis's Federal Reserve Economic Data (FRED). Learn more about the DDP and FRED partnership.

Current Release PDF RSS Data Download FRED XML

Release Date: September 10, 2026

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

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Sep 9, 2026
	Week ended Sep 9, 2026	Change from week ended
	Week ended Sep 9, 2026	Sep 2, 2026	Sep 10, 2025
Reserve Bank credit	6,691,811	+ 4,366	+ 135,142	6,693,205
Securities held outright1	6,468,272	+ 2,997	+ 162,174	6,468,269
U.S. Treasury securities	4,552,340	+ 2,997	+ 351,435	4,552,337
Bills2	548,360	+ 3,031	+ 352,867	548,360
Notes and bonds, nominal2	3,620,822	- 588	+ 36,055	3,620,822
Notes and bonds, inflation-indexed2	277,105	+ 588	- 32,347	277,105
Inflation compensation3	106,053	- 34	- 5,139	106,050
Federal agency debt securities2	2,347	0	0	2,347
Mortgage-backed securities4	1,913,585	0	- 189,261	1,913,585
Unamortized premiums on securities held outright5	210,223	- 352	- 21,975	210,148
Unamortized discounts on securities held outright5	-26,066	- 106	- 2,336	-26,007
Repurchase agreements6	9	- 8	- 8	6
Foreign official	0	0	0	1
Others	8	- 9	- 8	5
Loans	5,423	+ 250	- 766	5,907
Primary credit	5,351	+ 249	+ 574	5,838
Secondary credit	0	0	0	0
Seasonal credit	56	+ 1	+ 7	54
Paycheck Protection Program Liquidity Facility	16	0	- 1,348	16
Other credit extensions	0	0	0	0
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)7	895	+ 1	- 3,364	895
Float	-231	+ 11	+ 32	-250
Central bank liquidity swaps8	101	- 31	+ 52	101
Other Federal Reserve assets9	33,186	+ 1,605	+ 1,334	34,136
Foreign currency denominated assets10	19,485	+ 162	- 136	19,567
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	15,200	0	0	15,200
Treasury currency outstanding11	53,382	+ 14	+ 728	53,382

Total factors supplying reserve funds	6,790,919	+ 4,543	+ 135,734	6,792,394

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Sep 9, 2026
	Week ended Sep 9, 2026	Change from week ended
	Week ended Sep 9, 2026	Sep 2, 2026	Sep 10, 2025
Currency in circulation11	2,485,027	+ 5,486	+ 73,578	2,486,422
Reverse repurchase agreements12	351,659	- 13,384	- 18,985	349,663
Foreign official and international accounts	351,022	- 12,741	+ 2,499	349,231
Others	637	- 643	- 21,484	432
Treasury cash holdings	316	- 4	- 67	314
Deposits with F.R. Banks, other than reserve balances	1,140,746	- 82,779	+ 241,447	1,096,968
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	883,335	- 84,600	+ 211,061	843,705
Foreign official	9,458	- 1	+ 22	9,458
Other13	247,953	+ 1,822	+ 30,364	243,806
Treasury contributions to credit facilities14	0	0	- 2,029	0
Other liabilities and capital15	-178,140	- 1,558	+ 11,254	-177,481

Total factors, other than reserve balances, absorbing reserve funds	3,799,609	- 92,237	+ 305,198	3,755,886

Reserve balances with Federal Reserve Banks	2,991,310	+ 96,779	- 169,464	3,036,508

Note: Components may not sum to totals because of rounding.

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 2020 LLC.
15.	Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

H.4.1

1A. Memorandum Items

Millions of dollars

Memorandum item	Averages of daily figures			Wednesday Sep 9, 2026
	Week ended Sep 9, 2026	Change from week ended
	Week ended Sep 9, 2026	Sep 2, 2026	Sep 10, 2025
Securities held in custody for foreign official and international accounts	2,873,982	- 10,970	- 267,104	2,865,365
Marketable U.S. Treasury securities1	2,598,392	- 10,746	- 215,144	2,590,095
Federal agency debt and mortgage-backed securities2	201,274	- 139	- 46,832	201,252
Other securities3	74,316	- 84	- 5,128	74,017
Securities lent to dealers	40,198	+ 3,929	- 614	41,392
Overnight facility4	40,198	+ 3,929	- 614	41,392
U.S. Treasury securities	40,198	+ 3,929	- 614	41,392
Federal agency debt securities	0	0	0	0

Note: Components may not sum to totals because of rounding.

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.

H.4.1

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, September 9, 2026

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans1	2,671	3,236	0	0	0	...	5,907
U.S. Treasury securities2
Holdings	97,839	398,609	529,763	1,427,474	473,534	1,625,117	4,552,337
Weekly changes	+ 4,258	- 1,079	- 3,181	- 4	0	- 4	- 10
Federal agency debt securities3
Holdings	0	0	0	2,134	213	0	2,347
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities4
Holdings	0	8	153	5,165	106,200	1,802,059	1,913,585
Weekly changes	0	0	0	0	+ 6,070	- 6,070	0
Loan participations held by MS
Facilities 2020 LLC (Main Street
Lending Program)5	0	0	0	0	...	...	0
Repurchase agreements6	6	0	...	...	...	...	6
Central bank liquidity swaps7	101	0	0	0	0	0	101
Reverse repurchase agreements6	349,663	0	...	...	...	...	349,663
Term deposits	0	0	0	...	...	...	0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1.	Loans includes primary, secondary, and seasonal loans; the Paycheck Protection Program Liquidity Facility (PPPLF); and other credit extensions. A component of PPPLF loans presented in the Within 15 days category has reached contractual maturity, and collection is expected based upon the terms of the PPPLF. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities 2020 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 2020 LLC. A component of loan participations held by MS Facilities 2020 LLC presented in the Within 15 days category has reached contractual maturity, and collectability is assessed in accordance with the MS Facilities 2020 LLC policy.
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.

H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Sep 9, 2026
Mortgage-backed securities held outright1	1,913,585
Residential mortgage-backed securities	1,906,167
Commercial mortgage-backed securities	7,417

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.

4. Information on Principal Accounts of Credit Facilities LLC

Millions of dollars

Credit Facilities LLC:	Wednesday Sep 9, 2026
		Net portfolio holdings of
		Credit Facilities LLC
	Outstanding
	principal	Outstanding
	amount	amount of	Treasury
	of loan	facility	contributions
	extended to	asset	and
	the LLC1	purchases2	other assets3	Total
MS Facilities 2020 LLC (Main Street Lending Program)	0	0	895	895

Note: Components may not sum to totals because of rounding.

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 includes loan participations at face value, net of a valuation allowance, updated as of June 30, 2026.
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.

H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Sep 9, 2026	Change since
			Wednesday	Wednesday
			Sep 2, 2026	Sep 10, 2025
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		15,200	0	0
Coin		1,306	- 24	- 172
Securities, unamortized premiums and discounts, repurchase agreements, and loans		6,658,323	+ 282	+ 137,008
Securities held outright1		6,468,269	- 9	+ 162,160
U.S. Treasury securities		4,552,337	- 10	+ 351,421
Bills2		548,360	0	+ 352,867
Notes and bonds, nominal2		3,620,822	0	+ 36,098
Notes and bonds, inflation-indexed2		277,105	0	- 32,347
Inflation compensation3		106,050	- 10	- 5,197
Federal agency debt securities2		2,347	0	0
Mortgage-backed securities4		1,913,585	0	- 189,261
Unamortized premiums on securities held outright5		210,148	- 299	- 21,926
Unamortized discounts on securities held outright5		-26,007	+ 33	- 2,345
Repurchase agreements6		6	+ 6	- 6
Loans7		5,907	+ 552	- 875
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8		895	0	- 3,368
Items in process of collection	(0)	54	- 17	- 4
Bank premises		677	+ 11	+ 92
Central bank liquidity swaps9		101	- 31	+ 52
Foreign currency denominated assets10		19,567	+ 109	- 36
Other assets11		33,459	+ 3,084	+ 1,084

Total assets	(0)	6,740,619	+ 3,415	+ 134,657

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Sep 9, 2026	Change since
			Wednesday	Wednesday
			Sep 2, 2026	Sep 10, 2025
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,434,656	+ 4,351	+ 74,542
Reverse repurchase agreements12		349,663	- 8,079	- 33,293
Deposits	(0)	4,133,476	+ 8,751	+ 84,337
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,036,508	+ 107,223	- 114,405
U.S. Treasury, General Account		843,705	- 100,659	+ 176,120
Foreign official		9,458	- 1	+ 17
Other13	(0)	243,806	+ 2,189	+ 22,606
Deferred availability cash items	(0)	304	+ 5	- 64
Treasury contributions to credit facilities14		0	0	- 2,029
Other liabilities and accrued dividends15		-225,197	- 1,614	+ 9,165

Total liabilities	(0)	6,692,903	+ 3,415	+ 132,659

Capital accounts
Capital paid in		40,931	0	+ 1,997
Surplus		6,785	0	0
Other capital accounts		0	0	0

Total capital		47,716	0	+ 1,997

Note: Components may not sum to totals because of rounding.

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 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 2020 LLC.
15.	Includes the liability for earnings remittances due to the U.S. Treasury.

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, September 9, 2026

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificates and special drawing rights certificates	26,237	891	8,007	818	1,240	1,901	3,698	1,737	791	452	758	2,291	3,653
Coin	1,306	35	58	180	44	174	90	238	26	55	93	117	197
Securities, unamortized premiums and discounts, repurchase agreements, and loans1	6,658,323	167,155	3,382,058	132,429	256,913	548,766	466,556	417,257	110,155	57,300	82,933	326,796	710,005
Net portfolio holdings of MS
Facilities 2020 LLC (Main Street
Lending Program)2	895	895	0	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps3	101	4	33	3	10	22	4	6	3	1	1	3	12
Foreign currency denominated
assets4	19,567	816	6,304	645	1,989	4,291	697	1,070	490	116	258	555	2,336
Other assets5	34,190	873	15,056	745	1,325	3,152	3,438	2,024	925	486	749	1,730	3,687
Interdistrict settlement account	0	+ 14,811	+ 87,661	- 16,874	- 6,120	- 62,867	- 35,422	+ 15,039	- 6,790	+ 4,838	+ 8,505	- 8,795	+ 6,015

Total assets	6,740,619	185,482	3,499,176	117,947	255,401	495,438	439,061	437,370	105,599	63,247	93,297	322,697	725,904

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, September 9, 2026 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes, net	2,434,656	84,671	752,388	64,247	119,336	175,107	348,043	126,758	77,550	41,546	56,316	222,515	366,180
Reverse repurchase agreements6	349,663	8,739	177,684	6,951	13,502	28,836	24,517	21,916	5,779	3,004	4,356	17,141	37,239
Deposits	4,133,476	94,044	2,686,394	48,704	126,331	321,038	63,754	308,842	20,767	18,493	33,145	81,478	330,486
Depository institutions	3,036,508	94,038	1,768,887	48,703	126,293	320,349	63,742	130,319	20,762	18,437	33,118	81,414	330,446
U.S. Treasury, General Account	843,705	0	843,705	0	0	0	0	0	0	0	0	0	0
Foreign official	9,458	2	9,430	1	4	9	1	2	1	0	1	1	5
Other7	243,806	4	64,371	0	34	680	11	178,521	3	56	26	63	35
Earnings remittances due to the U.S. Treasury8	-232,898	-5,334	-134,864	-3,587	-9,606	-40,558	129	-23,284	19	-289	-1,411	68	-14,180
Treasury contributions to credit facilities9	0	0	0	0	0	0	0	0	0	0	0	0	0
Other liabilities and accrued dividends	8,005	1,181	2,370	213	326	913	755	553	280	207	260	319	628

Total liabilities	6,692,903	183,301	3,483,972	116,529	249,889	485,335	437,197	434,784	104,394	62,962	92,665	321,521	720,353

Capital
Capital paid in	40,931	1,898	13,018	1,194	4,822	8,615	1,622	2,215	1,034	245	543	984	4,741
Surplus	6,785	283	2,185	224	690	1,488	242	371	170	40	89	193	810
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	6,740,619	185,482	3,499,176	117,947	255,401	495,438	439,061	437,370	105,599	63,247	93,297	322,697	725,904

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, September 9, 2026 (continued)

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; 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.	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 2020 LLC.

Note on consolidation:

On July 15, 2020, the Federal Reserve Bank of Boston (FRBB) began extending loans to the MS Facilities 2020 LLC, under the authority of section 13(3) of the Federal Reserve Act. The LLC is 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 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 FRBB is the managing member of MS Facilities 2020 LLC. Consistent with generally accepted accounting principles, the assets and liabilities of the LLC have been accounted for and consolidated with the assets and liabilities of the FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the FRBB to the LLC is eliminated as are any balances held at the Federal Reserve Bank of New York (FRBNY) for the LLC consolidated to the FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appear as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the 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). Net portfolio holdings of the LLC include assets purchased pursuant to terms of the credit facility and the amount provided by U.S. Treasury as credit protection to the FRBB appear as liabilities on table 6 (and in table 1 and table 5).

H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Sep 9, 2026
Federal Reserve notes outstanding	2,833,140
Less: Notes held by F.R. Banks not subject to collateralization	398,484
Federal Reserve notes to be collateralized	2,434,656
Collateral held against Federal Reserve notes	2,434,656
Gold certificate account	11,037
Special drawing rights certificate account	15,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2	2,408,419
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2	6,468,275
Less: Face value of securities under reverse repurchase agreements	405,444
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,062,830

Note: Components may not sum to totals because of rounding.

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.

Last Update: September 10, 2026