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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 30, 2025 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 2020 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 Jan 29, 2025 Averages of daily figures Change from week ended Jan 22, 2025 Jan 31, 2024 6,780,214 6,501,452 4,274,530 195,343 3,653,635 318,894 106,658 2,347 2,224,575 247,602 -24,046 36 0 36 4,989 2,833 0 1 1,931 225 0 - 7,642 0 0 -386 78 42,847 17,699 11,041 15,200 53,159 - + + + + - + + + 7,957 7,715 49 0 0 0 49 0 7,666 606 41 35 0 35 72 21 0 1 12 80 0 - 6 0 0 102 27 575 193 0 0 14 - 6,877,313 7,751 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 29, 2025 838,833 634,486 441,905 15,093 380,812 41,328 4,672 0 192,581 28,652 1,516 35 0 35 167,776 127 0 1 1,393 166,510 0 6,771,656 6,494,417 4,274,511 195,343 3,653,635 318,894 106,639 2,347 2,217,559 247,297 -23,966 3 0 3 5,339 3,200 0 1 1,925 213 0 + + 7,426 1 0 34 141 1,937 466 0 10,000 728 7,648 0 0 -1,020 78 41,861 17,645 11,041 15,200 53,159 - 828,571 6,868,701 + + + + + - + - 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 29, 2025 Averages of daily figures Change from week ended Jan 22, 2025 Jan 31, 2024 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 2,350,025 494,361 383,731 110,630 332 974,114 0 784,206 9,684 180,224 3,461 -169,766 + + 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. + + - - 3,786 4,041 2,129 1,912 8 111,496 0 106,924 4 4,576 0 3,936 3,652,528 + 3,224,785 - + + Wednesday Jan 29, 2025 + - 23,047 429,635 37,551 467,186 76 41,286 0 57,344 6 16,064 3,977 75,199 2,349,125 496,387 374,545 121,842 340 987,958 0 811,549 9,680 166,729 3,461 -169,223 99,743 - 527,126 3,668,047 107,493 - 301,445 3,200,654 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 2020 LLC. 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 29, 2025 3,268,230 2,894,523 288,489 85,217 27,064 27,064 27,064 0 Averages of daily figures Change from week ended Jan 22, 2025 Jan 31, 2024 + + + + + + 9,609 12,683 3,141 66 1,794 1,794 1,794 0 + - 76,152 29,165 49,408 2,419 5,513 5,513 5,513 0 Wednesday Jan 29, 2025 3,273,438 2,899,649 288,310 85,480 28,262 28,262 28,262 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, January 29, 2025 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 1,287 1 Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days + 64,908 2,646 2,128 - 214,028 5,117 0 0 Mortgage-backed securities4 0 Holdings 0 Weekly changes Loan participations held by MS Facilities 2020 LLC (Main Street 45 Lending Program)5 3 Repurchase agreements6 78 Central bank liquidity swaps7 496,387 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 0 0 0 0 0 0 0 Over 1 year to 5 years Over 5 year to 10 years 360 1,563 0 452,293 2,465 1,456,789 22 0 0 1,151 0 91 days to 1 year - 43 1 4,048 ... 0 ... 0 - 3,917 27 12 ... 0 ... ... - 545,659 6 Over 10 years ... 1,540,835 16 - 1,196 0 - 30,575 844 ... ... 0 ... ... All 5,339 4,274,511 52 - 0 0 2,183,024 11,406 - ... ... 0 ... ... 2,347 0 2,217,559 12,279 - 4,106 3 78 496,387 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 2020 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 2020 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 29, 2025 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,217,559 2,209,533 8,026 71 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 LLC Millions of dollars Wednesday Jan 29, 2025 Net portfolio holdings of Credit Facilities LLC Credit Facilities LLC: Outstanding principal amount of loan extended to the LLC1 MS Facilities 2020 LLC (Main Street Lending 2,953 Program) Note: Components may not sum to totals because of rounding. 1. 2. 3. Outstanding amount of facility asset purchases2 3,640 Treasury contributions and other assets3 4,007 Total 7,648 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 includes loan participations at face value, net of an allowance for credit losses, updated as of September 30, 2024. 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 2020 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 29, 2025 11,037 15,200 1,541 (0) Change since Wednesday Wednesday Jan 22, 2025 Jan 31, 2024 + 6,723,090 6,494,417 4,274,511 195,343 3,653,635 318,894 106,639 2,347 2,217,559 247,297 -23,966 3 5,339 - 7,648 0 0 85 593 78 17,645 41,270 + (0) 6,818,186 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 16 + + 0 10,000 41 12,988 12,331 52 0 0 0 52 0 12,279 695 24 2 60 - - + + + - 7 0 0 5 2 27 53 642 + + - 7,435 1 0 35 133 141 602 2,506 - 13,574 - 811,938 + + + + - 811,460 617,807 418,210 15,010 357,259 41,328 4,612 0 199,597 28,758 1,510 3 166,408 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 29, 2025 Change since Wednesday Wednesday Jan 22, 2025 Jan 31, 2024 2,297,842 496,387 4,188,614 0 3,200,656 811,549 9,680 166,729 1,105 3,461 -213,297 + + - - 3,324 20,062 13,143 0 130,540 146,064 7 2,374 611 0 3,961 + - 21,655 481,216 273,659 0 211,061 53,932 8 8,658 47 3,977 76,011 6,774,112 - 13,593 - 813,161 37,289 6,785 0 + 18 0 0 + 1,223 0 0 44,074 + 18 + 1,223 + + 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 2020 LLC. 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 29, 2025 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 2020 LLC (Main Street Lending Program)2 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 26,237 1,541 895 55 8,109 53 797 170 1,233 48 1,911 205 3,730 124 1,726 252 786 37 438 59 738 101 2,261 195 3,613 243 6,723,090 139,833 3,615,765 100,190 262,825 669,722 449,601 371,068 94,150 42,656 73,910 293,843 609,529 7,648 78 7,648 3 0 27 0 3 0 8 0 15 0 3 0 4 0 2 0 0 0 1 0 2 0 10 17,645 41,948 0 + 736 957 18,886 + 6,102 20,367 75,092 + 621 718 21,280 - 1,877 1,667 20,191 - 6,818,186 169,013 3,725,515 123,778 247,468 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,481 4,431 115,071 564,695 578 3,656 147 457,544 866 2,278 17,821 + 358,373 397 773 8,717 + 104,861 110 491 5,660 49,416 192 818 1,897 73,863 424 1,914 128 + 298,511 2,259 3,877 25,620 645,150 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, January 29, 2025 (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 2,297,842 496,387 4,188,614 83,252 10,325 73,176 747,621 267,126 2,826,802 55,381 7,396 62,700 113,792 19,357 119,383 164,524 49,479 376,655 357,069 33,210 64,178 107,374 27,394 236,683 76,929 6,946 19,721 29,654 3,101 16,588 33,649 5,458 34,980 199,217 21,677 77,519 329,380 44,919 280,229 3,200,656 811,549 9,680 166,729 73,168 0 2 6 1,943,731 811,549 9,653 61,868 62,699 0 1 0 119,350 0 4 28 376,298 0 8 349 64,151 0 1 26 132,514 0 2 104,167 19,705 0 1 16 16,454 0 0 134 34,949 0 0 31 77,449 0 1 69 280,188 0 5 35 -221,137 -4,478 -133,398 -3,407 -9,876 -35,420 65 -15,968 -30 -349 -897 -1,427 -15,953 3,461 3,461 0 0 0 0 0 0 0 0 0 0 0 8,946 1,417 2,537 187 252 888 1,449 434 181 138 186 242 1,034 6,774,112 167,152 3,710,687 122,257 242,907 556,127 455,972 355,917 103,748 49,133 73,376 297,228 639,608 37,289 6,785 0 1,574 287 0 12,540 2,288 0 1,287 235 0 3,857 704 0 7,246 1,322 0 1,342 230 0 2,076 379 0 942 172 0 239 44 0 412 75 0 1,085 198 0 4,689 852 0 6,818,186 169,013 3,725,515 123,778 247,468 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 564,695 457,544 358,373 104,861 49,416 73,863 298,511 645,150 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 29, 2025 (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 2020 LLC. 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 2020 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 2020 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 2020 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 29, 2025 2,789,039 491,197 2,297,842 2,297,842 11,037 15,200 2,271,605 0 6,494,420 605,439 5,888,981