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

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Release Date: October 01, 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 30, 2026
	Week ended Sep 30, 2026	Change from week ended
	Week ended Sep 30, 2026	Sep 23, 2026	Oct 1, 2025
Reserve Bank credit	6,692,033	- 9,604	+ 148,376	6,696,087
Securities held outright1	6,462,747	- 9,568	+ 174,535	6,464,597
U.S. Treasury securities	4,560,550	+ 2,771	+ 360,668	4,564,161
Bills2	556,597	+ 2,780	+ 361,104	560,211
Notes and bonds, nominal2	3,620,413	- 409	+ 37,417	3,617,961
Notes and bonds, inflation-indexed2	277,513	+ 408	- 32,239	279,965
Inflation compensation3	106,027	- 9	- 5,614	106,023
Federal agency debt securities2	2,347	0	0	2,347
Mortgage-backed securities4	1,899,849	- 12,339	- 186,134	1,898,089
Unamortized premiums on securities held outright5	208,949	- 602	- 21,734	208,790
Unamortized discounts on securities held outright5	-25,987	+ 47	- 2,567	-26,080
Repurchase agreements6	172	+ 170	- 685	1,200
Foreign official	0	0	0	0
Others	172	+ 170	- 685	1,200
Loans	6,940	+ 518	- 715	8,804
Primary credit	6,871	+ 528	- 532	8,738
Secondary credit	1	- 3	+ 1	0
Seasonal credit	57	- 3	- 9	58
Paycheck Protection Program Liquidity Facility	12	- 4	- 174	7
Other credit extensions	0	0	0	0
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)7	872	+ 1	- 3,284	872
Float	-220	- 45	+ 277	-182
Central bank liquidity swaps8	207	+ 135	+ 167	207
Other Federal Reserve assets9	38,352	- 262	+ 2,382	37,879
Foreign currency denominated assets10	19,139	- 96	- 406	19,135
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	15,200	0	0	15,200
Treasury currency outstanding11	53,424	+ 14	+ 728	53,424

Total factors supplying reserve funds	6,790,836	- 9,687	+ 148,697	6,794,886

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 30, 2026
	Week ended Sep 30, 2026	Change from week ended
	Week ended Sep 30, 2026	Sep 23, 2026	Oct 1, 2025
Currency in circulation11	2,482,015	- 185	+ 70,963	2,482,756
Reverse repurchase agreements12	329,260	+ 13,117	- 85,359	361,883
Foreign official and international accounts	325,518	+ 9,875	- 48,379	350,344
Others	3,742	+ 3,242	- 36,981	11,539
Treasury cash holdings	314	+ 3	- 42	321
Deposits with F.R. Banks, other than reserve balances	1,206,880	- 42,806	+ 170,691	1,243,292
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	948,674	- 28,410	+ 143,535	984,046
Foreign official	9,468	- 129	+ 31	9,468
Other13	248,738	- 14,267	+ 27,125	249,779
Treasury contributions to credit facilities14	0	0	- 2,029	0
Other liabilities and capital15	-175,723	+ 2,286	+ 12,476	-175,052

Total factors, other than reserve balances, absorbing reserve funds	3,842,746	- 27,584	+ 166,701	3,913,200

Reserve balances with Federal Reserve Banks	2,948,090	+ 17,897	- 18,004	2,881,686

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 30, 2026
	Week ended Sep 30, 2026	Change from week ended
	Week ended Sep 30, 2026	Sep 23, 2026	Oct 1, 2025
Securities held in custody for foreign official and international accounts	2,867,153	- 18,192	- 249,176	2,854,737
Marketable U.S. Treasury securities1	2,594,792	- 15,467	- 203,480	2,582,350
Federal agency debt and mortgage-backed securities2	198,270	- 2,914	- 40,648	198,237
Other securities3	74,091	+ 190	- 5,048	74,150
Securities lent to dealers	43,590	+ 4,253	+ 2,989	52,890
Overnight facility4	43,590	+ 4,253	+ 2,989	52,890
U.S. Treasury securities	43,590	+ 4,253	+ 2,989	52,890
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 30, 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	5,214	3,590	0	0	0	...	8,804
U.S. Treasury securities2
Holdings	107,411	372,603	540,933	1,436,000	482,108	1,625,107	4,564,161
Weekly changes	- 24,502	+ 3,685	+ 8,987	+ 9,088	+ 8,576	- 3	+ 5,829
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	163	5,064	104,412	1,788,443	1,898,089
Weekly changes	0	0	+ 10	- 101	- 1,788	- 10,440	- 12,320
Loan participations held by MS
Facilities 2020 LLC (Main Street
Lending Program)5	0	0	0	0	...	...	0
Repurchase agreements6	1,200	0	...	...	...	...	1,200
Central bank liquidity swaps7	207	0	0	0	0	0	207
Reverse repurchase agreements6	361,883	0	...	...	...	...	361,883
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 30, 2026
Mortgage-backed securities held outright1	1,898,089
Residential mortgage-backed securities	1,890,706
Commercial mortgage-backed securities	7,384

Commitments to buy mortgage-backed securities2	71
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 30, 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	872	872

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 30, 2026	Change since
			Wednesday	Wednesday
			Sep 23, 2026	Oct 1, 2025
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		15,200	0	0
Coin		1,328	+ 4	- 153
Securities, unamortized premiums and discounts, repurchase agreements, and loans		6,657,311	- 3,474	+ 158,120
Securities held outright1		6,464,597	- 6,491	+ 179,882
U.S. Treasury securities		4,564,161	+ 5,829	+ 367,776
Bills2		560,211	+ 5,838	+ 364,718
Notes and bonds, nominal2		3,617,961	- 2,861	+ 39,286
Notes and bonds, inflation-indexed2		279,965	+ 2,860	- 30,536
Inflation compensation3		106,023	- 10	- 5,692
Federal agency debt securities2		2,347	0	0
Mortgage-backed securities4		1,898,089	- 12,320	- 187,894
Unamortized premiums on securities held outright5		208,790	- 579	- 21,769
Unamortized discounts on securities held outright5		-26,080	- 95	- 2,714
Repurchase agreements6		1,200	+ 1,199	+ 1,200
Loans7		8,804	+ 2,493	+ 1,521
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8		872	0	- 3,288
Items in process of collection	(0)	57	+ 7	- 10
Bank premises		744	+ 62	+ 160
Central bank liquidity swaps9		207	+ 135	+ 167
Foreign currency denominated assets10		19,135	+ 10	- 504
Other assets11		37,140	- 1,418	+ 1,421

Total assets	(0)	6,743,031	- 4,673	+ 155,912

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 30, 2026	Change since
			Wednesday	Wednesday
			Sep 23, 2026	Oct 1, 2025
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,430,978	+ 372	+ 69,358
Reverse repurchase agreements12		361,883	+ 41,158	- 22,889
Deposits	(0)	4,124,983	- 48,504	+ 99,564
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,881,691	- 88,234	- 97,903
U.S. Treasury, General Account		984,046	+ 36,729	+ 164,668
Foreign official		9,468	0	+ 34
Other13	(0)	249,779	+ 3,001	+ 32,766
Deferred availability cash items	(0)	239	- 16	- 698
Treasury contributions to credit facilities14		0	0	- 2,029
Other liabilities and accrued dividends15		-222,769	+ 2,316	+ 10,637

Total liabilities	(0)	6,695,315	- 4,673	+ 153,944

Capital accounts
Capital paid in		40,931	0	+ 1,969
Surplus		6,785	0	0
Other capital accounts		0	0	0

Total capital		47,716	0	+ 1,969

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 30, 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	1,328	40	58	182	45	174	100	242	27	55	94	118	194
Securities, unamortized premiums and discounts, repurchase agreements, and loans1	6,657,311	166,749	3,380,674	132,396	256,872	548,635	466,266	417,118	110,157	57,284	83,080	326,970	711,110
Net portfolio holdings of MS
Facilities 2020 LLC (Main Street
Lending Program)2	872	872	0	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps3	207	9	67	7	21	45	7	11	5	1	3	6	25
Foreign currency denominated
assets4	19,135	798	6,178	630	1,943	4,192	681	1,045	478	113	252	543	2,282
Other assets5	37,940	970	17,088	823	1,485	3,439	3,717	2,267	789	517	820	1,923	4,102
Interdistrict settlement account	0	+ 54,063	+ 119,541	- 18,037	- 3,983	- 53,564	- 31,055	- 1,740	- 9,618	+ 1,788	+ 6,872	- 18,888	- 45,380

Total assets	6,743,031	224,391	3,531,612	116,819	257,624	504,823	443,415	420,680	102,630	60,210	91,879	312,963	675,985

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 30, 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	2,430,978	84,373	746,951	63,992	118,248	173,636	350,739	127,174	77,354	41,589	57,396	223,761	365,765
Reverse repurchase agreements6	361,883	9,045	183,893	7,194	13,974	29,844	25,373	22,681	5,981	3,109	4,508	17,739	38,541
Deposits	4,124,983	132,913	2,716,499	47,519	129,067	330,863	64,555	290,922	17,774	15,268	30,443	69,845	279,316
Depository institutions	2,881,691	132,900	1,655,354	47,518	129,030	330,382	64,542	109,587	17,769	15,160	30,397	69,767	279,285
U.S. Treasury, General Account	984,046	0	984,046	0	0	0	0	0	0	0	0	0	0
Foreign official	9,468	2	9,441	1	4	9	1	2	1	0	1	1	5
Other7	249,779	11	67,659	0	33	472	11	181,333	3	108	46	78	25
Earnings remittances due to the U.S. Treasury8	-233,139	-5,353	-134,824	-3,555	-9,608	-40,854	135	-23,475	24	-262	-1,388	69	-14,049
Treasury contributions to credit facilities9	0	0	0	0	0	0	0	0	0	0	0	0	0
Other liabilities and accrued dividends	10,610	1,232	3,889	252	431	1,232	747	792	294	219	287	371	863

Total liabilities	6,695,315	222,210	3,516,408	115,402	252,112	494,720	441,550	418,094	101,426	59,925	91,246	311,786	670,436

Capital
Capital paid in	40,931	1,898	13,018	1,194	4,822	8,615	1,624	2,215	1,034	245	543	984	4,739
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	6,743,031	224,391	3,531,612	116,819	257,624	504,823	443,415	420,680	102,630	60,210	91,879	312,963	675,985

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 30, 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 30, 2026
Federal Reserve notes outstanding	2,834,823
Less: Notes held by F.R. Banks not subject to collateralization	403,845
Federal Reserve notes to be collateralized	2,430,978
Collateral held against Federal Reserve notes	2,430,978
Gold certificate account	11,037
Special drawing rights certificate account	15,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2	2,404,741
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2	6,465,797
Less: Face value of securities under reverse repurchase agreements	429,980
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,035,817

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: October 01, 2026