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FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks December 21, 2023 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 Reserve Bank credit Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Foreign official Others Loans Primary credit Secondary credit Seasonal credit Paycheck Protection Program Liquidity Facility Bank Term Funding Program Other credit extensions7 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 Net portfolio holdings of Municipal Liquidity Facility LLC8 Net portfolio holdings of TALF II LLC8 Float Central bank liquidity swaps9 Other Federal Reserve assets10 Foreign currency denominated assets11 Gold stock Special drawing rights certificate account Treasury currency outstanding12 Week ended Dec 20, 2023 Averages of daily figures Change from week ended Dec 13, 2023 Dec 21, 2022 7,691,030 7,243,616 4,794,898 224,689 4,090,641 365,578 113,990 2,347 2,446,371 280,334 -26,279 2 0 1 134,657 2,185 0 30 3,553 128,889 0 - 16,199 3,116 198 -234 235 39,185 18,450 11,041 5,200 52,588 + + + + + + + + 10,774 16,103 15,458 3,281 12,135 0 42 0 645 575 215 3 0 4 6,310 127 1 5 128 6,308 0 + 422 2,491 125 25 105 2,549 313 0 0 14 + + + 7,778,308 10,448 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Wednesday Dec 20, 2023 839,526 915,811 706,142 67,361 638,824 11,838 11,882 0 209,670 35,077 1,255 0 0 1 118,827 1,962 0 27 8,128 128,889 0 7,687,649 7,238,168 4,792,329 224,095 4,088,681 365,578 113,975 2,347 2,443,492 280,036 -26,189 0 0 0 137,262 2,400 0 26 3,501 131,335 0 + 6,385 2,448 1,783 84 25 1,956 112 0 0 554 16,136 2,695 169 -261 235 39,398 18,412 11,041 5,200 52,588 - 838,861 7,774,891 + + + + 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 Week ended Dec 20, 2023 Averages of daily figures Change from week ended Dec 13, 2023 Dec 21, 2022 Currency in circulation12 Reverse repurchase agreements13 Foreign official and international accounts Others Treasury cash holdings Deposits with F.R. Banks, other than reserve balances Term deposits held by depository institutions U.S. Treasury, General Account Foreign official Other14 Treasury contributions to credit facilities15 Other liabilities and capital16 2,331,997 1,062,589 334,583 728,005 397 914,966 0 732,196 9,689 173,082 10,311 -78,058 + + + Total factors, other than reserve balances, absorbing reserve funds Reserve balances with Federal Reserve Banks Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Wednesday Dec 20, 2023 - 1,088 90,704 8,376 99,080 6 89,763 0 73,756 2 16,009 0 6,076 + 35,790 -1,436,787 21,257 -1,415,531 + 302 + 230,123 0 + 272,416 + 1,250 43,543 5,036 - 110,738 2,335,924 1,124,202 345,059 779,143 394 904,459 0 732,721 9,688 162,050 10,311 -77,687 4,242,203 - 5,934 -1,286,345 4,297,603 3,536,105 - 4,514 + 3,477,288 + + 447,484 Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Face value of the securities. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 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. Cash value of agreements. 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. 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. 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. Includes bank premises, accrued interest, and other accounts receivable. Revalued daily at current foreign currency exchange rates. Estimated. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities 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. Book value. Amount of equity investments in MS Facilities LLC of $7.4 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.1 billion. 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 Securities held in custody for foreign official and international accounts Marketable U.S. Treasury securities1 Federal agency debt and mortgage-backed securities2 Other securities3 Securities lent to dealers Overnight facility4 U.S. Treasury securities Federal agency debt securities Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. Week ended Dec 20, 2023 3,387,026 2,958,450 345,246 83,330 33,607 33,607 33,607 0 Averages of daily figures Change from week ended Dec 13, 2023 Dec 21, 2022 + + + 1,554 1,117 313 124 2,768 2,768 2,768 0 + + + + - 78,269 60,260 16,068 1,942 7,861 7,861 7,840 21 Wednesday Dec 20, 2023 3,379,835 2,952,278 344,190 83,366 36,611 36,611 36,611 0 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. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. Face value. Fully collateralized by U.S. Treasury securities. H.4.1 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 20, 2023 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 2,907 1 Federal agency debt securities3 Holdings Weekly changes + 58,676 21,650 2. 3. 4. 5. 6. 7. 8. 9. Over 5 year to 10 years 109,412 3,497 0 574,396 2,184 1,627,431 7,905 0 0 0 0 0 0 1 0 27 0 0 0 8,161 ... ... 8,161 0 0 0 0 0 0 0 0 ... 0 ... 0 0 0 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 0 0 0 235 1,124,202 0 91 days to 1 year 21,446 - 247,297 33,314 0 0 Mortgage-backed securities4 0 Holdings 0 Weekly changes Loan participations held by MS Facilities LLC (Main Street Lending 0 Program)5 Municipal notes held by Municipal 0 Liquidity Facility LLC6 0 Loans held by TALF II LLC7 0 Repurchase agreements8 235 Central bank liquidity swaps9 1,124,202 Reverse repurchase agreements8 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. Over 1 year to 5 years 16 days to 90 days + - 5,003 22 - 779,349 9 Over 10 years ... 1,505,180 11 - 2,347 0 + 37,013 23 All 137,262 4,792,329 17,405 - 0 0 2,401,449 3,408 - 2,347 0 2,443,492 3,409 - Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF), Bank Term Funding Program, and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with consolidation under generally accepted accounting principles. 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. Face value. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. Book value of the loan participations held by the MS Facilities LLC. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. Book value of the loans held by the TALF II LLC. Cash value of agreements. 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 Wednesday Dec 20, 2023 Account name 2,443,492 2,435,227 8,265 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 0 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 0 0 Cash and cash equivalents3 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 LLCs Millions of dollars Wednesday Dec 20, 2023 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 7,434 MS Facilities LLC (Main Street Lending Program) 0 Municipal Liquidity Facility LLC 0 TALF II LLC Note: Components may not sum to totals because of rounding. Credit Facilities LLCs: 1. 2. 3. Outstanding amount of facility asset purchases2 7,520 0 0 Treasury contributions and other assets3 8,616 2,695 169 Total 16,136 2,695 169 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. Outstanding amount of facility asset purchases: a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses updated as of September 30, 2023. b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on a one-day lag after the transaction date. c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. 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. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. 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 Assets Gold certificate account Special drawing rights certificate account Coin Securities, unamortized premiums and discounts, repurchase agreements, and loans Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Loans7 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 Net portfolio holdings of Municipal Liquidity Facility LLC8 Net portfolio holdings of TALF II LLC8 Items in process of collection Bank premises Central bank liquidity swaps9 Foreign currency denominated assets10 Other assets11 Eliminations from consolidation Wednesday Dec 20, 2023 11,037 5,200 1,436 (0) Change since Wednesday Wednesday Dec 13, 2023 Dec 21, 2022 - 7,629,278 7,238,168 4,792,329 224,095 4,088,681 365,578 113,975 2,347 2,443,492 280,036 -26,189 0 137,262 - 16,136 2,695 169 66 441 235 18,412 38,957 (0) 7,724,063 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 3 + 0 0 247 + + + 13,591 20,814 17,405 3,268 14,095 0 42 0 3,409 671 213 7 7,688 + 831,151 918,432 708,701 67,732 640,837 11,838 11,706 0 209,730 35,051 1,277 0 121,053 + + + 502 2,914 155 8 10 105 247 1,517 + + 6,460 2,871 1,814 27 49 25 63 1,815 - 15,503 - 840,348 - + H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Liabilities Federal Reserve notes, net of F.R. Bank holdings Reverse repurchase agreements12 Deposits Term deposits held by depository institutions Other deposits held by depository institutions U.S. Treasury, General Account Foreign official Other13 Deferred availability cash items Treasury contributions to credit facilities14 Other liabilities and accrued dividends15 Total liabilities Capital accounts Capital paid in Surplus Other capital accounts Total capital Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. Eliminations from consolidation (0) (0) (0) (0) Wednesday Dec 20, 2023 Change since Wednesday Wednesday Dec 13, 2023 Dec 21, 2022 2,285,162 1,124,202 4,381,747 0 3,477,288 732,721 9,688 162,050 328 10,311 -120,536 + + - 4,474 28,030 14,231 0 90,484 102,103 5 2,616 3 0 6,173 7,681,213 - 15,503 - 841,399 36,065 6,785 0 0 0 0 + 1,051 0 0 42,850 0 + 1,051 + + - + 36,017 -1,438,160 + 677,354 0 + 427,956 + 297,799 + 1,254 49,656 + 73 5,036 - 111,645 Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Face value of the securities. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 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. 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. 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. Revalued daily at current foreign currency exchange rates. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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. Book value. Amount of equity investments in MS Facilities LLC of $7.4 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.1 billion. Includes the liability for earnings remittances due to the U.S. Treasury. H.4.1 6. Statement of Condition of Each Federal Reserve Bank, December 20, 2023 Millions of dollars Assets, liabilities, and capital Assets Gold certificates and special drawing rights certificates Coin Securities, unamortized premiums and discounts, repurchase agreements, and loans1 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)2 Net portfolio holdings of Municipal Liquidity Facility LLC2 Net portfolio holdings of TALF II LLC2 Central bank liquidity swaps3 Foreign currency denominated assets4 Other assets5 Interdistrict settlement account Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Francisco Dallas 16,237 1,436 557 48 5,175 41 525 134 752 53 1,187 178 2,287 108 1,104 251 479 34 264 54 452 96 1,290 176 2,165 262 7,629,278 151,032 4,192,139 126,097 233,389 532,384 517,796 476,311 120,192 58,711 107,113 379,856 734,259 16,136 16,136 0 0 0 0 0 0 0 0 0 0 0 2,695 169 235 0 0 10 2,695 169 83 0 0 8 0 0 22 0 0 47 0 0 7 0 0 8 0 0 5 0 0 1 0 0 2 0 0 5 0 0 34 18,412 39,464 0 + 792 921 26,008 - 6,552 18,434 36,961 - 662 751 17,983 + 1,736 1,223 49,992 + 7,724,063 195,504 4,188,327 110,194 287,166 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,728 3,024 101,792 642,341 552 3,910 35,415 489,245 641 2,352 78,949 401,718 414 735 8,240 113,620 116 602 5,338 54,410 195 991 13,322 95,528 388 2,068 50,862 + 332,921 2,635 4,453 69,278 813,086 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, December 20, 2023 (continued) Millions of dollars Assets, liabilities, and capital Liabilities Federal Reserve notes, net Reverse repurchase agreements6 Deposits Depository institutions U.S. Treasury, General Account Foreign official Other7 Earnings remittances due to the U.S. Treasury8 Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Francisco Dallas 2,285,162 1,124,202 4,381,747 79,385 21,719 86,173 744,002 627,811 2,878,253 50,041 18,528 41,124 109,088 34,547 143,535 159,971 78,233 414,707 354,686 76,158 56,334 122,376 70,079 216,228 72,578 16,817 23,175 32,728 7,623 13,889 47,454 14,535 33,362 188,913 54,813 89,577 323,942 103,340 385,388 3,477,288 732,721 9,688 162,050 86,118 0 2 53 2,079,580 732,721 9,662 56,290 41,123 0 1 0 143,501 0 4 30 414,333 0 8 366 56,286 0 1 47 111,317 0 1 104,910 23,158 0 1 17 13,735 0 0 154 33,331 0 0 31 89,454 0 1 122 385,352 0 6 30 -129,416 -2,435 -83,235 -1,203 -4,817 -20,013 53 -9,466 -62 -209 -466 -1,640 -5,922 10,311 7,438 2,873 0 0 0 0 0 0 0 0 0 0 9,207 1,427 3,741 190 336 955 630 495 147 111 178 249 750 7,681,213 193,708 4,173,444 108,680 282,689 633,851 487,860 399,712 112,655 54,142 95,064 331,911 807,498 36,065 6,785 0 1,505 292 0 12,469 2,414 0 1,270 244 0 3,837 640 0 7,116 1,374 0 1,182 203 0 1,770 236 0 812 153 0 226 43 0 393 72 0 867 143 0 4,617 971 0 7,724,063 195,504 4,188,327 110,194 287,166 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 642,341 489,245 401,718 113,620 54,410 95,528 332,921 813,086 Treasury contributions to credit facilities9 Other liabilities and accrued dividends Total liabilities Capital Capital paid in Surplus Other capital H.4.1 6. Statement of Condition of Each Federal Reserve Bank, December 20, 2023 (continued) 1. 2. 3. 4. 5. 6. 7. 8. 9. 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 and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions. 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. 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. Revalued daily at current foreign currency exchange rates. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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. 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. Book value. Amount of equity investments in MS Facilities LLC of $7.4 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.1 billion. Note on consolidation: The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), 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 MS Facilities 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 FRBNY is the managing member of MLF LLC and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or 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). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears 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 Federal Reserve notes outstanding Less: Notes held by F.R. Banks not subject to collateralization Federal Reserve notes to be collateralized Collateral held against Federal Reserve notes Gold certificate account Special drawing rights certificate account U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 Other assets pledged Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 Less: Face value of securities under reverse repurchase agreements U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged Note: Components may not sum to totals because of rounding. 1. 2. 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. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Wednesday Dec 20, 2023 2,708,326 423,164 2,285,162 2,285,162 11,037 5,200 2,268,925 0 7,238,168 1,240,510 5,997,659
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