Board of Governors of the Federal Reserve System

For Release at

4:30 P.M. Eastern Time

April 30, 2026

In table 4, the outstanding amount of facility asset purchases for MS Facilities 2020 LLC (Main Street Lending Program) reflects the quarterly update to the allowance for credit losses. The allowance for credit losses was estimated based upon the Main Street Lending Program holdings as of March 31, 2026.

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

Reserve Bank credit

 6,656,666

+    2,820

-    9,995

 6,651,591

Securities held outright1

 6,412,360

+    2,016

+   17,650

 6,409,144

U.S. Treasury securities

 4,421,972

+    9,083

+  204,334

 4,425,737

Bills2

   426,659

+    8,671

+  231,316

   430,272

Notes and bonds, nominal2

 3,618,666

         0

+   17,795

 3,618,666

Notes and bonds, inflation-indexed2

   275,769

         0

-   36,531

   275,769

Inflation compensation3

   100,879

+      413

-    8,246

   101,030

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 1,988,041

-    7,067

-  186,684

 1,981,060

Unamortized premiums on securities held outright5

   217,730

-      490

-   23,507

   217,472

Unamortized discounts on securities held outright5

   -25,360

+       21

-    1,719

   -25,327

Repurchase agreements6

         1

         0

-      872

         1

Foreign official

         0

         0

-      857

         0

Others

         1

         0

-       15

         1

Loans

     6,092

+      241

+      943

     6,145

Primary credit

     6,052

+      249

+    2,723

     6,105

Secondary credit

         0

         0

-        2

         0

Seasonal credit

        10

-        2

-        1

        10

Paycheck Protection Program Liquidity Facility

        30

-        7

-    1,776

        30

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

     1,400

+       67

-    5,444

     1,402

Float

      -413

-      129

+       48

    -1,367

Central bank liquidity swaps9

        20

-       81

-       42

        20

Other Federal Reserve assets10

    44,836

+    1,176

+    2,948

    44,102

Foreign currency denominated assets11

    19,304

-       96

-       16

    19,258

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

    15,200

         0

         0

    15,200

Treasury currency outstanding12

    53,116

+       14

+      569

    53,116

Total factors supplying reserve funds

 6,755,327

+    2,738

-    9,442

 6,750,206

Currency in circulation12

 2,453,491

+      965

+   73,748

 2,454,885

Reverse repurchase agreements13

   317,998

-    9,883

-  179,276

   322,711

Foreign official and international accounts

   317,696

-    9,839

-   41,170

   321,964

Others

       302

-       43

-  138,106

       747

Treasury cash holdings

       396

         0

-       89

       396

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

 1,251,328

-    7,868

+  412,850

 1,238,813

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   981,929

-   24,039

+  386,188

   988,102

Foreign official

     9,442

+        1

+        5

     9,441

Other14

   259,957

+   16,171

+   26,657

   241,269

Treasury contributions to credit facilities15

       821

         0

-    2,640

       821

Other liabilities and capital16

  -187,307

+    2,748

-   13,421

  -186,573

Total factors, other than reserve balances,
absorbing reserve funds

 3,836,727

-   14,037

+  291,172

 3,831,053

Reserve balances with Federal Reserve Banks

 2,918,599

+   16,774

-  300,615

 2,919,153

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.

Securities held in custody for foreign official and international accounts

 3,018,274

-       79

-  260,291

 3,025,883

Marketable U.S. Treasury securities1

 2,726,955

+    1,289

-  195,949

 2,735,038

Federal agency debt and mortgage-backed securities2

   216,035

-      722

-   54,962

   215,614

Other securities3

    75,285

-      645

-    9,379

    75,231

Securities lent to dealers

    36,996

+      359

+   10,790

    36,975

Overnight facility4

    36,996

+      359

+   10,790

    36,975

U.S. Treasury securities

    36,996

+      359

+   10,790

    36,975

Federal agency debt securities

         0

         0

         0

         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

     3,180

     2,965

         0

         0

         0

...

     6,145

U.S. Treasury securities2

Holdings

    90,628

   322,167

   514,081

 1,388,806

   509,713

 1,600,342

 4,425,737

Weekly changes

+      903

+    6,477

-    2,277

+      387

-      175

+      155

+    5,470

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

         7

        15

     4,817

    82,355

 1,893,867

 1,981,060

Weekly changes

         0

-       12

         0

-       83

-    1,506

-   10,615

-   12,216

Loan participations held by MS

Facilities 2020 LLC (Main Street

Lending Program)5

       664

        54

        97

         0

...

...

       815

Repurchase agreements6

         1

         0

...

...

...

...

         1

Central bank liquidity swaps7

        20

         0

         0

         0

         0

         0

        20

Reverse repurchase agreements6

   322,711

         0

...

...

...

...

   322,711

Term deposits

         0

         0

         0

...

...

...

         0

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.

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.

MS Facilities 2020 LLC (Main Street Lending Program)

         0

       178

     1,223

     1,402

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.

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

    15,200

         0

         0

Coin

     1,446

-       12

-       65

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

 6,607,435

-    7,215

-    6,512

Securities held outright1

 6,409,144

-    6,746

+   18,039

U.S. Treasury securities

 4,425,737

+    5,470

+  209,924

Bills2

   430,272

+    5,058

+  234,929

Notes and bonds, nominal2

 3,618,666

         0

+   21,251

Notes and bonds, inflation-indexed2

   275,769

         0

-   37,998

Inflation compensation3

   101,030

+      412

-    8,258

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 1,981,060

-   12,216

-  191,885

Unamortized premiums on securities held outright5

   217,472

-      569

-   23,582

Unamortized discounts on securities held outright5

   -25,327

+       31

-    1,702

Repurchase agreements6

         1

-        3

-      110

Loans7

     6,145

+       72

+      842

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

     1,402

+       67

-    5,410

Items in process of collection

(0)

        46

-        3

-       30

Bank premises

       675

+        7

+       97

Central bank liquidity swaps9

        20

-       81

-       42

Foreign currency denominated assets10

    19,258

-       44

-      144

Other assets11

    43,431

-      188

+    2,779

Total assets

(0)

 6,699,950

-    7,469

-    9,327

Liabilities

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

 2,403,608

+    1,528

+   72,779

Reverse repurchase agreements12

   322,711

-    2,413

-  309,411

Deposits

(0)

 4,157,969

-   10,411

+  242,866

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 2,919,157

+    4,581

-   81,120

U.S. Treasury, General Account

   988,102

-   19,070

+  310,445

Foreign official

     9,441

         0

+        2

Other13

(0)

   241,269

+    4,079

+   13,539

Deferred availability cash items

(0)

     1,413

+    1,089

+      431

Treasury contributions to credit facilities14

       821

         0

-    2,640

Other liabilities and accrued dividends15

  -233,068

+    2,733

-   15,621

Total liabilities

(0)

 6,653,455

-    7,472

-   11,595

Capital accounts

Capital paid in

    39,710

+        4

+    2,268

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    46,495

+        4

+    2,268

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.

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

     1,446

        52

        59

       175

        41

       203

        95

       252

        29

        65

       110

       118

       248

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

 6,607,435

   165,333

 3,355,015

   131,300

   254,958

   544,583

   462,875

   414,527

   109,244

    56,751

    82,326

   324,253

   706,269

Net portfolio holdings of MS

Facilities 2020 LLC (Main Street

Lending Program)2

     1,402

     1,402

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

        20

         1

         6

         1

         2

         4

         1

         1

         1

         0

         0

         1

         2

Foreign currency denominated

assets4

    19,258

       804

     6,204

       635

     1,958

     4,224

       686

     1,053

       482

       114

       254

       547

     2,299

Other assets5

    44,152

     1,132

    20,123

       945

     1,726

     3,999

     4,221

     2,660

       914

       581

       905

     2,225

     4,720

Interdistrict settlement account

         0

+   13,828

+   92,933

-    8,438

-   31,909

-   18,251

-   27,388

+   15,118

-    5,638

+    2,808

+    7,771

-   17,663

-   23,172

Total assets

 6,699,950

   183,441

 3,482,347

   125,437

   228,016

   536,663

   444,189

   435,347

   105,822

    60,772

    92,124

   311,772

   694,019

Liabilities

Federal Reserve notes, net

 2,403,608

    83,919

   744,997

    63,990

   117,184

   169,957

   353,731

   123,859

    78,534

    40,037

    50,883

   216,915

   359,601

Reverse repurchase agreements6

   322,711

     8,066

   163,988

     6,415

    12,462

    26,613

    22,627

    20,226

     5,333

     2,773

     4,020

    15,819

    34,369

Deposits

 4,157,969

    93,337

 2,696,142

    57,240

   103,394

   369,510

    64,001

   310,814

    20,504

    17,968

    37,889

    77,355

   309,816

Depository institutions

 2,919,157

    93,320

 1,640,777

    57,239

   103,367

   368,431

    63,989

   128,733

    20,500

    17,862

    37,863

    77,283

   309,793

U.S. Treasury, General Account

   988,102

         0

   988,102

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,441

         2

     9,414

         1

         4

         9

         1

         2

         1

         0

         1

         1

         5

Other7

   241,269

        15

    57,848

         0

        23

     1,070

        11

   182,079

         3

       106

        26

        71

        18

Earnings remittances due to the U.S. Treasury8

  -242,710

    -5,595

  -141,207

    -3,992

   -10,306

   -40,832

       152

   -22,880

        31

      -497

    -1,543

        81

   -16,124

Treasury contributions to credit facilities9

       821

       821

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    11,056

       948

     3,469

       252

       393

     1,352

     1,915

       770

       279

       207

       243

       375

       852

Total liabilities

 6,653,455

   181,496

 3,467,389

   123,905

   223,127

   526,601

   442,426

   432,791

   104,682

    60,488

    91,492

   310,546

   688,513

Capital

Capital paid in

    39,710

     1,662

    12,773

     1,309

     4,200

     8,573

     1,521

     2,186

       971

       244

       542

     1,034

     4,696

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

 6,699,950

   183,441

 3,482,347

   125,437

   228,016

   536,663

   444,189

   435,347

   105,822

    60,772

    92,124

   311,772

   694,019

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).

Federal Reserve notes outstanding

 2,824,899

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

   421,291

Federal Reserve notes to be collateralized

 2,403,608

Collateral held against Federal Reserve notes

 2,403,608

Gold certificate account

    11,037

Special drawing rights certificate account

    15,200

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

 2,377,371

Other assets pledged

         0

Memo:

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

 6,409,145

Less: Face value of securities under reverse repurchase agreements

   365,428

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

 6,043,717

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.