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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 January 19, 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 Other credit extensions 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 Jan 18, 2023 Averages of daily figures Change from week ended Jan 11, 2023 Jan 19, 2022 8,467,129 8,093,527 5,450,196 287,366 4,683,665 376,720 102,445 2,347 2,640,984 312,478 -27,473 1 0 1 15,459 4,154 1 0 11,305 0 - 22,549 5,574 1,959 -173 198 43,031 18,941 11,041 5,200 51,499 + + + + + + + + + + + - + 4,296 6,902 6,484 993 4,477 696 318 0 418 673 65 1 0 1 264 342 1 0 78 0 + 92 2 2 16 7 3,048 394 0 0 14 + - 8,553,811 3,887 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Wednesday Jan 18, 2023 358,515 282,809 242,092 38,678 223,285 8,788 28,659 0 40,717 40,796 8,992 1 0 1 16,616 3,680 1 0 20,296 0 8,452,327 8,079,010 5,436,722 287,231 4,672,607 374,979 101,906 2,347 2,639,940 312,256 -27,407 1 0 1 15,877 4,603 5 0 11,270 0 + 6,737 2,293 642 26 68 465 1,535 0 0 728 22,270 5,576 1,960 -208 198 42,795 18,946 11,041 5,200 51,499 - 359,322 8,539,014 + + + + - 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 Jan 18, 2023 Averages of daily figures Change from week ended Jan 11, 2023 Jan 19, 2022 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 2,296,627 2,522,302 358,428 2,163,874 107 547,671 0 339,018 8,935 199,718 15,347 24,426 + + - 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. + + + + + - - 5,923 22,604 21,366 43,971 5 37,377 0 33,322 0 4,055 0 4,082 5,406,480 - 3,147,332 + - Wednesday Jan 18, 2023 + - 64,321 595,528 43,940 551,588 43 201,287 0 149,679 3,263 54,871 5,911 26,826 2,295,031 2,503,262 371,584 2,131,678 106 582,942 0 377,500 8,934 196,508 15,347 24,090 69,981 + 425,868 5,420,778 66,095 - 785,189 3,118,236 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 Jan 18, 2023 3,330,564 2,921,565 327,891 81,109 40,026 40,026 40,005 21 Averages of daily figures Change from week ended Jan 11, 2023 Jan 19, 2022 + - 979 1,109 142 11 2,952 2,952 2,952 0 + + 116,318 115,908 429 838 2,115 2,115 2,136 21 Wednesday Jan 18, 2023 3,321,061 2,912,435 327,784 80,842 41,602 41,602 41,581 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, January 18, 2023 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 3,097 1 Federal agency debt securities3 Holdings Weekly changes + 86,064 21,418 2. 3. 4. 5. 6. 7. 8. 9. Over 5 year to 10 years 0 11,263 0 724,788 3,541 1,907,249 8,153 0 0 0 0 0 0 3 0 37 0 0 0 11,664 ... ... 11,664 0 0 0 0 0 0 2,907 996 ... 0 ... 0 0 0 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 2,907 996 1 198 2,503,262 0 91 days to 1 year 1,517 - 334,494 18,870 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 1 Repurchase agreements8 198 Central bank liquidity swaps9 2,503,262 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 + - 5,698 23 - 919,568 17,610 Over 10 years ... 1,464,560 29 - 2,347 0 - 50,190 370 All 15,877 5,436,722 19,704 - 0 0 2,584,012 1,068 - 2,347 0 2,639,940 1,462 - 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 Account name Wednesday Jan 18, 2023 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,639,940 2,631,455 8,485 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 Jan 18, 2023 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 10,966 MS Facilities LLC (Main Street Lending Program) 2,907 Municipal Liquidity Facility LLC 1,011 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 10,315 2,907 996 Treasury contributions and other assets3 11,955 2,669 964 Total 22,270 5,576 1,960 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 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 Jan 18, 2023 11,037 5,200 1,235 (0) Change since Wednesday Wednesday Jan 11, 2023 Jan 19, 2022 + 8,379,737 8,079,010 5,436,722 287,231 4,672,607 374,979 101,906 2,347 2,639,940 312,256 -27,407 1 15,877 - 22,270 5,576 1,960 85 476 198 18,946 42,320 (0) 8,489,039 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 19 + 0 0 2 + + + + 21,123 21,165 19,704 968 15,481 2,437 817 0 1,462 682 54 1 670 - 368,186 302,940 256,619 38,813 242,604 4,519 29,317 0 46,322 40,846 8,670 0 15,730 + + + + + + + 389 2 2 24 8 7 323 1,578 + + 6,666 2,292 641 4 941 68 1,456 1,451 - 19,548 - 378,795 - 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 Jan 18, 2023 Change since Wednesday Wednesday Jan 11, 2023 Jan 19, 2022 2,244,869 2,503,262 3,701,178 0 3,118,237 377,500 8,934 196,508 293 15,347 -17,736 + + + - - 4,005 44,544 33,469 0 1,406 31,074 1 991 69 0 4,538 + + - 61,588 539,463 950,622 0 703,506 202,671 1,527 45,970 69 5,911 24,710 8,447,213 - 19,548 - 380,122 35,041 6,785 0 0 0 0 + 1,327 0 0 41,826 0 + 1,327 + + + + 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 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, January 18, 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 1,235 544 17 5,271 28 537 109 763 46 1,203 193 2,247 81 1,093 228 461 24 263 36 440 91 1,279 158 2,136 224 8,379,737 167,869 4,291,239 192,247 336,505 583,060 547,588 572,215 131,406 63,308 131,028 429,151 934,121 22,270 22,270 0 0 0 0 0 0 0 0 0 0 0 5,576 1,960 198 0 0 9 5,576 1,960 69 0 0 7 0 0 19 0 0 40 0 0 6 0 0 7 0 0 4 0 0 1 0 0 2 0 0 5 0 0 28 18,946 42,880 0 - 816 986 4,100 + 6,600 20,676 279,210 - 703 1,072 49,586 - 1,852 1,762 46,541 + 8,489,039 188,410 4,610,628 145,090 294,406 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,799 3,335 18,968 + 610,597 616 2,883 15,899 569,321 718 2,907 40,920 536,248 381 808 11,386 121,699 95 477 3,139 61,042 196 962 22,077 110,641 455 2,280 27,935 405,393 2,716 4,732 108,393 835,564 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, January 18, 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 2,244,869 2,503,262 3,701,178 77,575 50,115 47,874 705,588 1,283,426 2,617,357 54,654 57,508 31,340 110,772 99,962 79,821 170,617 174,444 258,393 351,773 163,780 51,901 121,508 171,122 243,588 68,959 39,315 12,359 32,454 17,749 10,496 49,238 39,076 21,768 190,423 128,341 85,733 311,307 278,423 240,548 3,118,237 377,500 8,934 196,508 47,865 0 2 7 2,176,223 377,500 8,908 54,726 31,339 0 1 0 79,790 0 4 27 257,930 0 8 455 51,871 0 1 29 102,676 0 2 140,910 12,349 0 1 9 10,436 0 0 60 21,736 0 0 31 85,503 0 1 229 240,518 0 6 25 -24,571 -481 -17,740 -116 -363 -2,153 -26 -1,981 -30 -62 -73 -283 -1,262 15,347 11,453 3,894 0 0 0 0 0 0 0 0 0 0 7,128 75 3,279 193 247 832 616 535 170 150 190 276 565 8,447,213 186,611 4,595,805 143,580 290,441 602,132 568,042 534,772 120,773 60,786 110,200 404,491 829,580 35,041 6,785 0 1,507 292 0 12,460 2,363 0 1,258 252 0 3,302 663 0 7,105 1,361 0 1,057 221 0 1,219 257 0 789 137 0 221 34 0 372 70 0 739 163 0 5,011 973 0 8,489,039 188,410 4,610,628 145,090 294,406 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 610,597 569,321 536,248 121,699 61,042 110,641 405,393 835,564 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, January 18, 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 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 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 Jan 18, 2023 2,623,345 378,476 2,244,869 2,244,869 11,037 5,200 2,228,632 0 8,079,011 2,638,174 5,440,837
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