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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 22, 2022 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 Primary Dealer Credit Facility Paycheck Protection Program Liquidity Facility Other credit extensions Net portfolio holdings of Corporate Credit Facilities LLC7 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7 Net portfolio holdings of Municipal Liquidity Facility LLC7 Net portfolio holdings of TALF II LLC7 Float Central bank liquidity swaps8 Other Federal Reserve assets9 Foreign currency denominated assets10 Gold stock Special drawing rights certificate account Treasury currency outstanding11 Week ended Dec 21, 2022 Averages of daily figures Change from week ended Dec 14, 2022 Dec 22, 2021 8,530,556 8,159,427 5,501,040 292,050 4,729,465 377,416 102,108 2,347 2,656,041 315,411 -27,534 2 0 2 15,830 4,147 0 3 0 11,681 0 0 - 22,584 5,564 1,981 -150 210 37,229 18,338 11,041 5,200 51,443 + + + + + + + + + + + - + 16,395 15,507 12,826 1,177 12,088 0 438 0 2,680 694 71 2 0 2 2,363 2,078 0 3 0 286 0 0 + 234 2 1 1 2 2,322 88 0 0 14 + - 8,616,579 16,293 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 21, 2022 211,241 131,615 142,922 33,994 135,271 4,799 31,141 0 11,309 39,180 9,545 2 0 2 21,958 3,444 0 3 0 25,404 0 0 8,528,248 8,156,600 5,501,030 291,827 4,729,518 377,416 102,269 2,347 2,653,222 315,087 -27,466 0 0 0 16,209 4,571 0 4 0 11,634 0 0 + 6,810 2,394 645 5 46 953 2,047 0 0 707 22,596 5,566 1,983 -162 210 37,626 18,475 11,041 5,200 51,443 - 212,580 8,614,408 + + + + + - 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 21, 2022 Averages of daily figures Change from week ended Dec 14, 2022 Dec 22, 2021 Currency in circulation11 Reverse repurchase agreements12 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 Other13 Treasury contributions to credit facilities14 Other liabilities and capital15 2,295,617 2,499,376 355,840 2,143,536 95 684,843 0 459,780 8,439 216,625 15,347 32,680 + + 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. + + + + + + - 1,135 29,399 8,896 20,503 5 116,108 0 104,263 3 11,843 0 4,119 5,527,958 + 83,720 3,088,621 - 100,013 + + + Wednesday Dec 21, 2022 + + - 70,794 493,749 61,212 432,538 25 343,498 0 374,826 3,179 34,505 5,911 18,347 2,299,300 2,562,362 355,397 2,206,965 104 655,061 0 434,922 8,434 211,706 15,347 32,908 + 883,808 5,565,082 -1,096,388 3,049,325 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 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 21, 2022 3,308,757 2,898,190 329,178 81,388 41,468 41,468 41,447 21 Averages of daily figures Change from week ended Dec 14, 2022 Dec 22, 2021 + + - 312 984 592 80 1,881 1,881 1,881 0 + + + + + + 116,218 124,309 7,893 197 9,171 9,171 9,150 21 Wednesday Dec 21, 2022 3,306,225 2,896,818 328,014 81,393 45,089 45,089 45,068 21 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 21, 2022 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 2,984 1 Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days + 84,352 32,605 1,599 - 333,601 39,032 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 210 Central bank liquidity swaps9 2,562,362 Reverse repurchase agreements8 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 6. 7. 8. 9. + 0 0 3 0 Over 1 year to 5 years Over 5 year to 10 years 0 11,626 0 734,808 7,380 1,934,523 13,926 0 0 0 0 91 days to 1 year - 43 1 - 4,118 31 + 949,275 135 Over 10 years ... 1,464,471 114 + 2,347 0 - 50,644 323 All 16,209 5,501,030 12,724 - 0 0 2,598,415 5,055 - 2,347 0 2,653,222 5,411 - 0 0 11,940 ... ... 11,940 0 0 0 0 0 0 2,907 1,010 ... 0 ... 0 0 0 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 2,907 1,010 0 210 2,562,362 0 Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF) 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 21, 2022 Account name 2,653,222 2,644,716 8,506 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 21, 2022 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 11,353 MS Facilities LLC (Main Street Lending Program) 2,907 Municipal Liquidity Facility LLC 1,040 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 10,580 2,907 1,010 Treasury contributions and other assets3 12,016 2,659 973 Total 22,596 5,566 1,983 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, 2022. 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 Corporate Credit Facilities LLC8 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 21, 2022 11,037 5,200 1,189 (0) Change since Wednesday Wednesday Dec 14, 2022 Dec 22, 2021 + 8,460,429 8,156,600 5,501,030 291,827 4,729,518 377,416 102,269 2,347 2,653,222 315,087 -27,466 0 16,209 0 - 22,596 5,566 1,983 93 490 210 18,475 37,142 (0) 8,564,411 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 8 - 0 0 15 20,270 18,134 12,724 1,127 12,035 0 438 0 5,411 790 71 3 1,414 0 + + + + + + + + 239 2 2 4 1 2 77 1,409 + + 6,802 2,393 644 31 906 55 1,910 1,722 - 19,002 - 226,084 + + - + - 215,114 145,231 148,793 34,217 139,690 5,784 30,898 0 3,561 39,537 9,471 0 20,873 0 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 21, 2022 Change since Wednesday Wednesday Dec 14, 2022 Dec 22, 2021 2,249,145 2,562,362 3,704,393 0 3,049,332 434,922 8,434 211,706 255 15,347 -8,891 + + - + + - - 4,628 10,922 30,306 0 121,475 92,818 2 1,646 35 0 4,213 8,522,612 - 19,003 - 227,222 35,014 6,785 0 + 1 0 0 + 1,138 0 0 41,799 + 1 + 1,138 + - 67,962 579,447 851,791 0 -1,055,594 + 237,406 + 3,245 36,847 5 5,911 16,925 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 Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 21, 2022 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 1,189 544 14 5,271 23 537 109 763 45 1,203 184 2,247 71 1,093 222 461 24 263 35 440 90 1,279 152 2,136 221 8,460,429 169,158 4,332,666 194,058 339,745 588,651 552,983 577,916 132,632 63,941 132,054 433,149 943,476 22,596 22,596 0 0 0 0 0 0 0 0 0 0 0 5,566 1,983 210 0 0 9 5,566 1,983 73 0 0 8 0 0 21 0 0 42 0 0 7 0 0 8 0 0 4 0 0 1 0 0 2 0 0 5 0 0 30 18,475 37,725 0 + 796 862 12,104 + 6,436 18,100 216,778 - 685 951 48,808 - 1,806 1,557 39,015 + 8,564,411 206,083 4,586,895 147,540 304,922 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,704 2,970 17,854 + 614,608 601 2,554 18,037 576,499 700 2,549 16,094 566,394 372 699 11,230 122,962 93 444 3,432 61,345 191 867 22,655 110,988 444 2,014 19,991 417,052 2,648 4,160 103,549 849,123 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, December 21, 2022 (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 2,249,145 2,562,362 3,704,393 77,408 51,298 64,406 707,937 1,313,727 2,555,155 54,873 58,866 32,129 111,538 102,322 86,955 166,323 178,562 261,829 353,163 167,646 53,788 122,103 175,162 268,351 69,052 40,243 12,558 32,611 18,168 10,191 49,587 39,999 20,793 191,239 131,371 93,347 313,311 284,996 244,891 3,049,332 434,922 8,434 211,706 64,395 0 2 10 2,060,507 434,922 8,408 51,318 32,127 0 1 0 86,925 0 4 26 261,420 0 8 401 53,756 0 1 31 108,826 0 2 159,524 12,549 0 1 8 10,088 0 0 102 20,766 0 0 27 93,124 0 1 222 244,849 0 6 37 -16,040 -295 -12,038 -52 -152 -1,418 30 -1,274 3 -40 -33 -100 -670 15,347 11,453 3,894 0 0 0 0 0 0 0 0 0 0 7,404 14 3,400 215 293 862 600 574 182 160 200 293 611 8,522,612 204,284 4,572,075 146,030 300,956 606,158 575,228 564,917 122,038 61,090 110,546 416,150 843,139 35,014 6,785 0 1,507 292 0 12,457 2,363 0 1,258 252 0 3,302 663 0 7,090 1,361 0 1,050 221 0 1,219 257 0 788 137 0 221 34 0 372 70 0 738 163 0 5,011 973 0 8,564,411 206,083 4,586,895 147,540 304,922 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 614,608 576,499 566,394 122,962 61,345 110,988 417,052 849,123 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 21, 2022 (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 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility. The assets of the CCF 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 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 CCF LLC, 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 21, 2022 2,620,491 371,347 2,249,145 2,249,145 11,037 5,200 2,232,908 0 8,156,600 2,786,334 5,370,266
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