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: October 08, 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 Oct 7, 2026
	Week ended Oct 7, 2026	Change from week ended
	Week ended Oct 7, 2026	Sep 30, 2026	Oct 8, 2025
Reserve Bank credit	6,695,970	+ 3,937	+ 155,764	6,700,804
Securities held outright1	6,465,328	+ 2,581	+ 180,440	6,466,820
U.S. Treasury securities	4,564,892	+ 4,342	+ 368,334	4,566,384
Bills2	560,767	+ 4,170	+ 365,274	562,157
Notes and bonds, nominal2	3,617,961	- 2,452	+ 39,286	3,617,961
Notes and bonds, inflation-indexed2	279,965	+ 2,452	- 30,536	279,965
Inflation compensation3	106,198	+ 171	- 5,691	106,300
Federal agency debt securities2	2,347	0	0	2,347
Mortgage-backed securities4	1,898,089	- 1,760	- 187,894	1,898,089
Unamortized premiums on securities held outright5	208,595	- 354	- 21,735	208,512
Unamortized discounts on securities held outright5	-26,374	- 387	- 2,876	-26,322
Repurchase agreements6	1	- 171	- 633	2
Foreign official	0	0	- 572	0
Others	1	- 171	- 62	2
Loans	7,744	+ 804	+ 1,997	10,006
Primary credit	7,701	+ 830	+ 2,079	9,965
Secondary credit	0	- 1	- 4	0
Seasonal credit	35	- 22	- 10	33
Paycheck Protection Program Liquidity Facility	7	- 5	- 68	7
Other credit extensions	0	0	0	0
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)7	872	0	- 3,289	873
Float	-221	- 1	+ 81	-231
Central bank liquidity swaps8	207	0	+ 162	207
Other Federal Reserve assets9	39,817	+ 1,465	+ 1,616	40,937
Foreign currency denominated assets10	18,993	- 146	- 579	18,907
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	15,200	0	0	15,200
Treasury currency outstanding11	53,438	+ 14	+ 728	53,438

Total factors supplying reserve funds	6,794,641	+ 3,805	+ 155,912	6,799,390

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 Oct 7, 2026
	Week ended Oct 7, 2026	Change from week ended
	Week ended Oct 7, 2026	Sep 30, 2026	Oct 8, 2025
Currency in circulation11	2,483,821	+ 1,806	+ 69,786	2,486,120
Reverse repurchase agreements12	329,526	+ 266	- 46,546	333,739
Foreign official and international accounts	328,297	+ 2,779	- 31,169	331,401
Others	1,230	- 2,512	- 15,376	2,338
Treasury cash holdings	319	+ 5	- 32	307
Deposits with F.R. Banks, other than reserve balances	1,129,628	- 77,252	+ 90,688	1,135,011
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	880,253	- 68,421	+ 72,825	885,783
Foreign official	9,470	+ 2	+ 36	9,473
Other13	239,904	- 8,834	+ 17,826	239,756
Treasury contributions to credit facilities14	0	0	- 2,029	0
Other liabilities and capital15	-178,312	- 2,589	+ 12,857	-177,854

Total factors, other than reserve balances, absorbing reserve funds	3,764,983	- 77,763	+ 124,725	3,777,324

Reserve balances with Federal Reserve Banks	3,029,659	+ 81,569	+ 31,188	3,022,066

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 Oct 7, 2026
	Week ended Oct 7, 2026	Change from week ended
	Week ended Oct 7, 2026	Sep 30, 2026	Oct 8, 2025
Securities held in custody for foreign official and international accounts	2,850,936	- 16,217	- 255,244	2,837,237
Marketable U.S. Treasury securities1	2,579,146	- 15,646	- 209,103	2,565,477
Federal agency debt and mortgage-backed securities2	198,237	- 33	- 40,694	198,237
Other securities3	73,553	- 538	- 5,447	73,524
Securities lent to dealers	45,644	+ 2,054	+ 6,395	47,566
Overnight facility4	45,644	+ 2,054	+ 6,395	47,566
U.S. Treasury securities	45,644	+ 2,054	+ 6,395	47,566
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, October 7, 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	3,169	6,837	0	0	0	...	10,006
U.S. Treasury securities2
Holdings	102,162	394,160	526,600	1,436,121	482,130	1,625,211	4,566,384
Weekly changes	- 5,249	+ 21,557	- 14,333	+ 121	+ 22	+ 104	+ 2,223
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	5,093	113,674	1,779,151	1,898,089
Weekly changes	0	0	0	+ 29	+ 9,262	- 9,292	0
Loan participations held by MS
Facilities 2020 LLC (Main Street
Lending Program)5	0	0	0	0	...	...	0
Repurchase agreements6	2	0	...	...	...	...	2
Central bank liquidity swaps7	207	0	0	0	0	0	207
Reverse repurchase agreements6	333,739	0	...	...	...	...	333,739
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	Oct 7, 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	149
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 Oct 7, 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	873	873

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 Oct 7, 2026	Change since
			Wednesday	Wednesday
			Sep 30, 2026	Oct 8, 2025
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		15,200	0	0
Coin		1,327	- 1	- 152
Securities, unamortized premiums and discounts, repurchase agreements, and loans		6,659,019	+ 1,708	+ 158,786
Securities held outright1		6,466,820	+ 2,223	+ 181,831
U.S. Treasury securities		4,566,384	+ 2,223	+ 369,725
Bills2		562,157	+ 1,946	+ 366,664
Notes and bonds, nominal2		3,617,961	0	+ 39,286
Notes and bonds, inflation-indexed2		279,965	0	- 30,536
Inflation compensation3		106,300	+ 277	- 5,689
Federal agency debt securities2		2,347	0	0
Mortgage-backed securities4		1,898,089	0	- 187,894
Unamortized premiums on securities held outright5		208,512	- 278	- 21,703
Unamortized discounts on securities held outright5		-26,322	- 242	- 2,890
Repurchase agreements6		2	- 1,198	- 2,096
Loans7		10,006	+ 1,202	+ 3,643
Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8		873	+ 1	- 3,293
Items in process of collection	(0)	54	- 3	- 17
Bank premises		694	- 50	+ 108
Central bank liquidity swaps9		207	0	+ 162
Foreign currency denominated assets10		18,907	- 228	- 371
Other assets11		40,243	+ 3,103	+ 1,522

Total assets	(0)	6,747,560	+ 4,529	+ 156,745

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 Oct 7, 2026	Change since
			Wednesday	Wednesday
			Sep 30, 2026	Oct 8, 2025
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		2,434,312	+ 3,334	+ 68,644
Reverse repurchase agreements12		333,739	- 28,144	- 22,100
Deposits	(0)	4,157,078	+ 32,095	+ 99,547
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		3,022,066	+ 140,375	- 11,789
U.S. Treasury, General Account		885,783	- 98,263	+ 91,729
Foreign official		9,473	+ 5	+ 39
Other13	(0)	239,756	- 10,023	+ 19,568
Deferred availability cash items	(0)	285	+ 46	- 97
Treasury contributions to credit facilities14		0	0	- 2,029
Other liabilities and accrued dividends15		-225,570	- 2,801	+ 10,835

Total liabilities	(0)	6,699,844	+ 4,529	+ 154,800

Capital accounts
Capital paid in		40,931	0	+ 1,945
Surplus		6,785	0	0
Other capital accounts		0	0	0

Total capital		47,716	0	+ 1,945

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, October 7, 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	1,327	40	58	180	42	172	101	245	27	54	94	123	193
Securities, unamortized premiums and discounts, repurchase agreements, and loans1	6,659,019	167,015	3,380,346	132,336	256,831	548,526	466,314	417,103	110,121	57,263	83,030	327,062	713,072
Net portfolio holdings of MS
Facilities 2020 LLC (Main Street
Lending Program)2	873	873	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	18,907	789	6,091	624	1,922	4,147	674	1,034	473	112	249	537	2,257
Other assets5	40,990	1,048	18,626	883	1,605	3,703	3,911	2,460	840	553	853	2,073	4,435
Interdistrict settlement account	0	+ 19,386	+ 119,640	- 17,983	- 13,128	- 45,753	- 34,166	+ 526	- 8,761	+ 1,847	+ 7,749	- 9,749	- 19,608

Total assets	6,747,560	190,050	3,532,834	116,865	248,533	512,742	440,539	423,116	103,497	60,282	92,737	322,343	704,025

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, October 7, 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	2,434,312	84,104	746,135	64,015	118,513	173,323	351,826	128,190	77,252	41,713	57,480	225,063	366,698
Reverse repurchase agreements6	333,739	8,341	169,592	6,634	12,887	27,523	23,400	20,917	5,515	2,868	4,158	16,360	35,543
Deposits	4,157,078	99,631	2,734,242	48,141	120,952	341,832	62,592	294,408	19,230	15,464	31,592	79,364	309,629
Depository institutions	3,022,066	99,610	1,776,914	48,140	120,916	340,742	62,579	118,161	19,227	15,407	31,566	79,215	309,590
U.S. Treasury, General Account	885,783	0	885,783	0	0	0	0	0	0	0	0	0	0
Foreign official	9,473	2	9,446	1	4	9	1	2	1	0	1	1	5
Other7	239,756	19	62,100	0	32	1,081	11	176,245	2	57	26	148	35
Earnings remittances due to the U.S. Treasury8	-233,587	-5,398	-134,840	-3,563	-9,685	-41,029	121	-23,555	10	-256	-1,392	61	-14,060
Treasury contributions to credit facilities9	0	0	0	0	0	0	0	0	0	0	0	0	0
Other liabilities and accrued dividends	8,303	1,190	2,501	219	354	987	735	570	285	208	266	321	666

Total liabilities	6,699,844	187,868	3,517,630	115,447	243,021	502,637	438,673	420,530	102,292	59,997	92,104	321,169	698,476

Capital
Capital paid in	40,931	1,898	13,018	1,194	4,822	8,617	1,624	2,215	1,034	245	543	981	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	6,747,560	190,050	3,532,834	116,865	248,533	512,742	440,539	423,116	103,497	60,282	92,737	322,343	704,025

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, October 7, 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	Oct 7, 2026
Federal Reserve notes outstanding	2,836,069
Less: Notes held by F.R. Banks not subject to collateralization	401,757
Federal Reserve notes to be collateralized	2,434,312
Collateral held against Federal Reserve notes	2,434,312
Gold certificate account	11,037
Special drawing rights certificate account	15,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2	2,408,075
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities1,2	6,466,822
Less: Face value of securities under reverse repurchase agreements	396,365
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	6,070,458

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 08, 2026