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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 February 8, 2024 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 Feb 7, 2024 Averages of daily figures Change from week ended Jan 31, 2024 Feb 8, 2023 7,594,103 7,112,153 4,692,649 210,353 4,010,894 360,222 111,180 2,347 2,417,156 275,722 -25,608 0 0 0 170,551 2,397 0 0 3,303 164,851 0 - 15,086 1 0 -266 230 46,234 18,094 11,041 5,200 52,686 + - - - + + + - + 24,944 23,785 23,786 83 23,553 0 150 0 0 532 46 1 0 1 2,214 309 0 0 21 1,884 0 + 18 0 0 154 11 1,450 71 0 0 14 + - 7,681,124 25,001 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Wednesday Feb 7, 2024 803,483 912,086 704,508 74,668 624,843 14,757 9,760 0 207,579 34,407 1,939 0 0 0 155,449 1,679 0 0 7,723 164,851 0 7,595,102 7,112,112 4,692,608 210,353 4,010,894 360,222 111,138 2,347 2,417,156 275,555 -25,523 0 0 0 170,501 2,334 0 0 3,298 164,869 0 + 7,516 5,580 1,948 108 208 983 699 0 0 605 15,103 1 0 -321 230 47,444 18,067 11,041 5,200 52,686 - 803,576 7,682,096 + + - + 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 Feb 7, 2024 Averages of daily figures Change from week ended Jan 31, 2024 Feb 8, 2023 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 2,326,682 865,279 339,337 525,942 414 975,195 0 802,135 9,689 163,370 7,438 -93,207 + - 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 Feb 7, 2024 + 537 58,717 6,843 51,874 6 40,205 0 39,415 1 790 0 1,360 + 28,710 -1,545,443 19,451 -1,525,992 + 318 + 273,789 0 + 308,858 + 254 35,324 7,909 - 114,780 2,327,380 890,179 337,124 553,055 422 993,399 0 821,575 9,691 162,134 7,438 -92,460 4,081,801 - 98,094 -1,365,315 4,126,358 3,599,323 + 73,093 + 3,555,738 - 561,739 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. 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 Feb 7, 2024 3,359,821 2,939,650 337,889 82,282 32,915 32,915 32,915 0 Averages of daily figures Change from week ended Jan 31, 2024 Feb 8, 2023 + + + + + 15,439 15,962 8 516 338 338 338 0 + + + + - 27,769 15,022 11,224 1,522 5,422 5,422 5,403 19 Wednesday Feb 7, 2024 3,363,394 2,943,218 337,884 82,291 30,947 30,947 30,947 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, February 7, 2024 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 1,386 1 Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days - 82,267 951 62,721 + 230,601 1,143 0 0 Mortgage-backed securities4 0 Holdings 0 Weekly changes Loan participations held by MS Facilities LLC (Main Street Lending 0 Program)5 0 Repurchase agreements6 230 Central bank liquidity swaps7 890,179 Reverse repurchase agreements6 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 6. 7. + 0 0 1 0 0 0 0 0 0 Over 1 year to 5 years Over 5 year to 10 years 103,100 3,294 0 552,753 22,032 1,580,352 22,285 0 0 0 0 91 days to 1 year + 32 13 0 ... 0 ... 0 + 5,571 334 7,472 ... 0 ... ... - 741,769 21 Over 10 years ... 1,504,865 32 - 2,347 0 + 31,570 171 ... ... 0 ... ... All 170,501 4,692,608 113 - 0 0 2,347 0 2,379,983 518 2,417,156 0 ... ... 0 ... ... 7,472 0 230 890,179 0 - 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 Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBB's statement of condition, 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. 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 Account name Wednesday Feb 7, 2024 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,417,156 2,408,936 8,221 149 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 Feb 7, 2024 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 6,620 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 6,637 0 0 Treasury contributions and other assets3 8,465 1 0 Total 15,103 1 0 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 December 31, 2023. 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 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 Feb 7, 2024 11,037 5,200 1,517 (0) Change since Wednesday Wednesday Jan 31, 2024 Feb 8, 2023 + 7,532,645 7,112,112 4,692,608 210,353 4,010,894 360,222 111,138 2,347 2,417,156 275,555 -25,523 0 170,501 - 15,103 1 0 56 446 230 18,067 46,998 + (0) 7,631,300 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 17 + 0 0 230 1,905 112 113 0 0 0 113 0 0 500 47 0 1,246 + + + 789,391 911,992 704,414 74,668 624,843 14,757 9,853 0 207,579 34,361 1,938 1 155,025 + + + 20 0 0 6 14 11 180 3,222 + + 7,519 5,583 1,950 3 27 208 631 1,005 + 1,176 - 804,069 - - 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 Feb 7, 2024 Change since Wednesday Wednesday Jan 31, 2024 Feb 8, 2023 2,276,628 890,179 4,549,137 0 3,555,738 821,575 9,691 162,134 377 7,438 -135,599 + + + 441 87,424 86,864 0 144,021 43,906 3 13,253 681 0 1,687 7,588,161 + 888 - 804,676 36,354 6,785 0 + 288 0 0 + 606 0 0 43,139 + 288 + 606 + + - + 28,319 -1,528,752 + 817,897 0 + 522,178 + 325,737 + 257 30,274 + 114 7,909 - 114,346 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. Includes the liability for earnings remittances due to the U.S. Treasury. H.4.1 6. Statement of Condition of Each Federal Reserve Bank, February 7, 2024 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 1,517 557 50 5,175 40 525 140 752 56 1,187 187 2,287 112 1,104 268 479 37 264 57 452 101 1,290 192 2,165 277 7,532,645 152,533 4,123,599 124,769 230,457 524,763 512,179 471,012 119,119 60,127 108,002 374,555 731,530 15,103 15,103 0 0 0 0 0 0 0 0 0 0 0 1 0 230 0 0 10 1 0 82 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 33 18,067 47,501 0 + 777 1,075 6,492 + 6,430 22,798 2,394 - 649 866 18,379 + 1,704 1,456 40,687 + 7,631,300 176,598 4,160,518 108,579 275,132 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,658 3,603 150,079 683,524 542 4,169 42,593 476,702 629 2,857 89,749 386,130 407 1,092 11,146 109,993 114 702 8,020 53,245 192 1,044 21,530 88,263 381 2,482 64,073 + 314,832 2,585 5,357 55,838 797,785 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, February 7, 2024 (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 2,276,628 890,179 4,549,137 79,880 17,198 71,845 741,281 497,121 2,995,151 49,505 14,671 44,075 109,303 27,355 139,280 159,465 61,947 475,039 353,038 60,304 61,467 121,420 55,491 216,964 71,981 13,316 23,619 32,653 6,036 14,373 45,991 11,509 30,617 188,786 43,402 82,984 323,326 81,828 393,723 3,555,738 821,575 9,691 162,134 71,775 0 2 68 2,111,861 821,575 9,665 52,050 44,073 0 1 0 139,248 0 4 29 473,895 0 8 1,136 61,439 0 1 27 108,440 0 1 108,522 23,613 0 1 5 14,316 0 0 57 30,525 0 0 92 82,868 0 1 114 393,684 0 6 33 -147,250 -2,876 -93,219 -1,398 -5,806 -22,775 -323 -10,568 -66 -220 -536 -1,792 -7,671 7,438 7,438 0 0 0 0 0 0 0 0 0 0 0 12,028 1,304 5,333 216 423 1,393 739 697 173 132 208 333 1,078 7,588,161 174,789 4,145,668 107,069 270,555 675,068 475,225 384,004 109,023 52,973 87,789 313,713 792,284 36,354 6,785 0 1,525 283 0 12,504 2,346 0 1,271 239 0 3,855 722 0 7,116 1,339 0 1,255 222 0 1,792 333 0 818 153 0 229 42 0 400 74 0 956 163 0 4,632 869 0 7,631,300 176,598 4,160,518 108,579 275,132 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 683,524 476,702 386,130 109,993 53,245 88,263 314,832 797,785 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, February 7, 2024 (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. 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 Feb 7, 2024 2,713,694 437,066 2,276,628 2,276,628 11,037 5,200 2,260,391 0 7,112,112 989,183 6,122,929