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

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Release Date: May 14, 2026

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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 May 13, 2026
	Week ended May 13, 2026	Change from week ended
	Week ended May 13, 2026	May 6, 2026	May 14, 2025
Reserve Bank credit	6,673,028	+ 18,239	+ 7,863	6,681,090
Securities held outright1	6,426,808	+ 16,072	+ 35,256	6,433,642
U.S. Treasury securities	4,443,401	+ 16,072	+ 227,141	4,450,235
Bills2	446,528	+ 15,173	+ 251,110	453,031
Notes and bonds, nominal2	3,615,393	0	+ 17,957	3,615,393
Notes and bonds, inflation-indexed2	279,041	0	- 34,726	279,041
Inflation compensation3	102,439	+ 901	- 7,199	102,770
Federal agency debt securities2	2,347	0	0	2,347
Mortgage-backed securities4	1,981,060	0	- 191,885	1,981,060
Unamortized premiums on securities held outright5	217,028	- 254	- 23,377	216,920
Unamortized discounts on securities held outright5	-25,460	- 17	- 1,808	-25,402
Repurchase agreements6	16	+ 11	+ 15	4
Foreign official	1	+ 1	+ 1	0
Others	15	+ 11	+ 14	4
Loans	5,915	- 565	+ 1,769	6,042
Primary credit	5,877	- 562	+ 3,535	6,002
Secondary credit	0	- 3	0	1
Seasonal credit	9	+ 1	- 6	10
Paycheck Protection Program Liquidity Facility	29	0	- 1,759	29
Bank Term Funding Program	0	0	0	0
Other credit extensions7	0	0	0	0
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8	1,404	+ 2	- 5,419	1,406
Float	-294	+ 61	+ 17	-322
Central bank liquidity swaps9	42	- 164	+ 12	42
Other Federal Reserve assets10	47,569	+ 3,092	+ 1,399	48,757
Foreign currency denominated assets11	19,462	- 42	+ 460	19,379
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	15,200	0	0	15,200
Treasury currency outstanding12	53,144	+ 14	+ 590	53,144

Total factors supplying reserve funds	6,771,874	+ 18,211	+ 8,913	6,779,853

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 May 13, 2026
	Week ended May 13, 2026	Change from week ended
	Week ended May 13, 2026	May 6, 2026	May 14, 2025
Currency in circulation12	2,457,508	+ 1,703	+ 74,284	2,458,020
Reverse repurchase agreements13	299,605	- 22,963	- 208,481	326,347
Foreign official and international accounts	298,293	- 22,353	- 63,603	322,628
Others	1,312	- 610	- 144,878	3,719
Treasury cash holdings	396	0	- 110	395
Deposits with F.R. Banks, other than reserve balances	1,095,225	- 34,863	+ 287,964	1,060,356
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	838,584	- 39,177	+ 262,738	807,420
Foreign official	9,443	- 106	+ 2	9,443
Other14	247,198	+ 4,420	+ 25,223	243,493
Treasury contributions to credit facilities15	821	0	- 2,640	821
Other liabilities and capital16	-184,490	+ 4,113	- 9,191	-183,452

Total factors, other than reserve balances, absorbing reserve funds	3,669,065	- 52,010	+ 141,826	3,662,487

Reserve balances with Federal Reserve Banks	3,102,810	+ 70,222	- 132,913	3,117,367

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 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 2020 LLC.
16.	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 May 13, 2026
	Week ended May 13, 2026	Change from week ended
	Week ended May 13, 2026	May 6, 2026	May 14, 2025
Securities held in custody for foreign official and international accounts	3,005,138	- 23,768	- 260,680	2,978,180
Marketable U.S. Treasury securities1	2,713,935	- 23,957	- 196,681	2,687,059
Federal agency debt and mortgage-backed securities2	215,591	- 24	- 55,009	215,372
Other securities3	75,612	+ 213	- 8,990	75,750
Securities lent to dealers	40,344	- 4,071	+ 8,757	43,770
Overnight facility4	40,344	- 4,071	+ 8,757	43,770
U.S. Treasury securities	40,344	- 4,071	+ 8,757	43,770
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, May 13, 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	3,693	2,348	0	0	0	...	6,042
U.S. Treasury securities2
Holdings	94,449	332,071	511,124	1,394,557	515,413	1,602,621	4,450,235
Weekly changes	+ 2,416	+ 9,386	+ 3,471	+ 382	+ 85	+ 334	+ 16,074
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	7	0	15	5,441	86,512	1,889,085	1,981,060
Weekly changes	+ 7	- 7	0	0	0	0	0
Loan participations held by MS
Facilities 2020 LLC (Main Street
Lending Program)5	603	80	93	0	...	...	776
Repurchase agreements6	4	0	...	...	...	...	4
Central bank liquidity swaps7	42	0	0	0	0	0	42
Reverse repurchase agreements6	326,347	0	...	...	...	...	326,347
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	May 13, 2026
Mortgage-backed securities held outright1	1,981,060
Residential mortgage-backed securities	1,973,438
Commercial mortgage-backed securities	7,622

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 May 13, 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	129	1,277	1,406

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 an allowance for credit losses, updated as of March 31, 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 May 13, 2026	Change since
			Wednesday	Wednesday
			May 6, 2026	May 14, 2025
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		15,200	0	0
Coin		1,425	- 4	- 49
Securities, unamortized premiums and discounts, repurchase agreements, and loans		6,631,206	+ 16,115	+ 18,850
Securities held outright1		6,433,642	+ 16,074	+ 41,958
U.S. Treasury securities		4,450,235	+ 16,074	+ 233,842
Bills2		453,031	+ 15,174	+ 257,613
Notes and bonds, nominal2		3,615,393	0	+ 17,903
Notes and bonds, inflation-indexed2		279,041	0	- 34,726
Inflation compensation3		102,770	+ 901	- 6,947
Federal agency debt securities2		2,347	0	0
Mortgage-backed securities4		1,981,060	0	- 191,885
Unamortized premiums on securities held outright5		216,920	- 254	- 23,334
Unamortized discounts on securities held outright5		-25,402	+ 24	- 1,820
Repurchase agreements6		4	+ 2	+ 3
Loans7		6,042	+ 270	+ 2,043
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8		1,406	+ 2	- 5,423
Items in process of collection	(0)	50	- 12	- 2
Bank premises		658	+ 5	+ 83
Central bank liquidity swaps9		42	- 164	+ 12
Foreign currency denominated assets10		19,379	- 99	+ 408
Other assets11		48,099	+ 3,154	+ 1,352

Total assets	(0)	6,728,502	+ 18,997	+ 15,232

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 May 13, 2026	Change since
			Wednesday	Wednesday
			May 6, 2026	May 14, 2025
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,406,692	+ 752	+ 73,937
Reverse repurchase agreements12		326,347	+ 3,661	- 192,866
Deposits	(0)	4,177,723	+ 11,116	+ 145,834
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,117,367	+ 65,886	- 118,348
U.S. Treasury, General Account		807,420	- 55,337	+ 244,987
Foreign official		9,443	0	+ 2
Other13	(0)	243,493	+ 567	+ 19,194
Deferred availability cash items	(0)	372	+ 11	- 102
Treasury contributions to credit facilities14		821	0	- 2,640
Other liabilities and accrued dividends15		-230,664	+ 3,457	- 11,800

Total liabilities	(0)	6,681,291	+ 18,998	+ 12,364

Capital accounts
Capital paid in		40,427	0	+ 2,869
Surplus		6,785	0	0
Other capital accounts		0	0	0

Total capital		47,212	0	+ 2,869

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, 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 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, May 13, 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	1,425	52	61	174	38	199	92	248	28	64	109	119	240
Securities, unamortized premiums and discounts, repurchase agreements, and loans1	6,631,206	166,114	3,367,173	131,809	255,888	546,749	464,665	415,625	109,647	57,027	82,607	325,246	708,655
Net portfolio holdings of MS
Facilities 2020 LLC (Main Street
Lending Program)2	1,406	1,406	0	0	0	0	0	0	0	0	0	0	0
Central bank liquidity swaps3	42	2	14	1	4	9	1	2	1	0	1	1	5
Foreign currency denominated
assets4	19,379	809	6,243	639	1,970	4,250	691	1,059	485	115	255	550	2,313
Other assets5	48,807	1,244	22,441	1,035	1,882	4,367	4,517	2,942	1,169	621	925	2,445	5,218
Interdistrict settlement account	0	- 708	+ 59,584	- 6,041	- 19,307	- 34,259	- 30,743	+ 6,620	- 4,609	+ 3,323	+ 6,681	- 10,627	+ 30,085

Total assets	6,728,502	169,810	3,463,523	128,436	241,716	523,217	442,922	428,233	107,513	61,603	91,335	320,025	750,170

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, May 13, 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	2,406,692	84,016	747,465	64,201	116,920	170,173	351,309	124,243	78,495	40,157	51,266	218,289	360,157
Reverse repurchase agreements6	326,347	8,156	165,836	6,487	12,602	26,913	22,882	20,454	5,393	2,804	4,066	15,998	34,756
Deposits	4,177,723	79,466	2,671,557	59,892	116,582	355,353	65,832	303,054	22,150	18,609	36,515	84,030	364,685
Depository institutions	3,117,367	79,459	1,795,490	59,890	116,507	354,317	65,820	120,101	22,146	18,555	36,488	83,950	364,645
U.S. Treasury, General Account	807,420	0	807,420	0	0	0	0	0	0	0	0	0	0
Foreign official	9,443	2	9,416	1	4	9	1	2	1	0	1	1	5
Other7	243,493	5	59,231	0	71	1,027	11	182,951	3	55	26	79	36
Earnings remittances due to the U.S. Treasury8	-240,658	-5,546	-139,982	-3,939	-10,182	-40,714	206	-22,865	40	-468	-1,513	116	-15,811
Treasury contributions to credit facilities9	821	821	0	0	0	0	0	0	0	0	0	0	0
Other liabilities and accrued dividends	10,366	960	3,683	260	421	1,422	844	775	291	215	245	376	875

Total liabilities	6,681,291	167,874	3,448,558	126,902	236,343	513,146	441,073	425,661	106,368	61,318	90,578	318,808	744,662

Capital
Capital paid in	40,427	1,653	12,779	1,310	4,683	8,582	1,607	2,202	975	245	667	1,024	4,698
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	6,728,502	169,810	3,463,523	128,436	241,716	523,217	442,922	428,233	107,513	61,603	91,335	320,025	750,170

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, May 13, 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	May 13, 2026
Federal Reserve notes outstanding	2,822,674
Less: Notes held by F.R. Banks not subject to collateralization	415,983
Federal Reserve notes to be collateralized	2,406,692
Collateral held against Federal Reserve notes	2,406,692
Gold certificate account	11,037
Special drawing rights certificate account	15,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2	2,380,455
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2	6,433,646
Less: Face value of securities under reverse repurchase agreements	370,178
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,063,468

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: May 14, 2026