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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 July 6, 2023 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks Reserve Bank credit Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Foreign official Others Loans Primary credit Secondary credit Seasonal credit Paycheck Protection Program Liquidity Facility Bank Term Funding Program Other credit extensions7 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 Net portfolio holdings of Municipal Liquidity Facility LLC8 Net portfolio holdings of TALF II LLC8 Float Central bank liquidity swaps9 Other Federal Reserve assets10 Foreign currency denominated assets11 Gold stock Special drawing rights certificate account Treasury currency outstanding12 Week ended Jul 5, 2023 Averages of daily figures Change from week ended Jun 28, 2023 Jul 6, 2022 8,268,771 7,652,305 5,111,820 269,263 4,365,982 368,228 108,346 2,347 2,538,138 295,834 -27,382 429 429 0 279,479 3,795 0 23 7,220 102,026 166,416 + 19,957 5,594 1,649 -378 219 41,064 18,370 11,041 5,200 51,835 + + + + + + + - + 48,868 42,132 33,439 2,901 30,941 22 424 0 8,693 708 71 429 429 0 5,242 396 0 4 238 928 4,468 + 26 4 65 165 91 995 15 0 0 14 + + + 8,355,217 48,839 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Wednesday Jul 5, 2023 586,508 803,353 632,162 56,781 575,976 16,114 16,708 0 171,191 37,457 2,174 429 429 0 259,778 1,846 0 14 10,522 102,026 166,416 8,261,904 7,646,946 5,106,460 268,928 4,360,825 368,228 108,479 2,347 2,538,138 295,568 -27,258 0 0 0 277,332 3,356 0 23 7,218 101,959 164,775 + 6,434 52 530 163 128 3,468 303 0 0 728 19,969 5,595 1,639 -503 219 42,399 18,276 11,041 5,200 51,835 - 585,478 8,348,257 + + + + + + + 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 Jul 5, 2023 Averages of daily figures Change from week ended Jun 28, 2023 Jul 6, 2022 Currency in circulation12 Reverse repurchase agreements13 Foreign official and international accounts Others Treasury cash holdings Deposits with F.R. Banks, other than reserve balances Term deposits held by depository institutions U.S. Treasury, General Account Foreign official Other14 Treasury contributions to credit facilities15 Other liabilities and capital16 2,345,645 2,293,322 332,753 1,960,569 243 614,755 0 415,441 9,731 189,584 13,358 -27,095 + + + + 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. + + + - - 4,613 2,665 2,507 5,172 25 12,279 0 24,870 46 12,636 0 6,513 5,240,228 + 3,114,989 - + + - Wednesday Jul 5, 2023 + - 62,160 164,696 61,076 225,772 145 327,632 0 285,016 2,062 44,677 4,582 75,235 2,347,266 2,191,320 324,259 1,867,061 248 643,144 0 446,864 9,697 186,583 13,358 -26,726 7,739 - 509,840 5,168,611 56,578 - 75,638 3,179,646 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 loans that were extended 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 $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 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 Jul 5, 2023 3,431,784 2,997,689 352,079 82,015 45,055 45,055 45,055 0 Averages of daily figures Change from week ended Jun 28, 2023 Jul 6, 2022 + + + + - 619 553 78 11 2,934 2,934 2,941 7 + + + - 55,079 18,809 37,081 812 636 636 636 0 Wednesday Jul 5, 2023 3,433,820 2,999,711 352,077 82,032 42,424 42,424 42,424 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, July 5, 2023 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 167,150 1 Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days - 63,003 17,853 2,165 + 307,238 2,406 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 50 Loans held by TALF II LLC7 0 Repurchase agreements8 219 Central bank liquidity swaps9 2,191,320 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 2 1 Over 1 year to 5 years Over 5 year to 10 years 100,803 7,213 0 628,810 698 1,761,756 8,441 0 0 0 0 91 days to 1 year + 14 1 + 9,505 872 - 854,072 14,130 Over 10 years ... 1,491,581 95 + 2,347 0 - 44,523 723 All 277,332 5,106,460 38,620 - 0 0 2,347 0 2,484,094 152 2,538,138 0 - 0 0 10,386 ... ... 10,386 0 287 0 0 0 0 2,907 457 ... 0 ... 0 0 0 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 2,907 794 0 219 2,191,320 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. Additionally, the Within 15 days category includes loans to depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership. These loans are recognized as performing based upon payment due from the receiverships, pledged collateral securing the loans, and the FDIC repayment guarantees. 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 Jul 5, 2023 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 2,538,138 2,529,753 8,385 0 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 69 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 Jul 5, 2023 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 9,600 MS Facilities LLC (Main Street Lending Program) 2,907 Municipal Liquidity Facility LLC 809 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 9,404 2,907 794 Treasury contributions and other assets3 10,565 2,688 845 Total 19,969 5,595 1,639 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 March 31, 2023. b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on a one-day lag after the transaction date. c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6. H.4.1 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Assets Gold certificate account Special drawing rights certificate account Coin Securities, unamortized premiums and discounts, repurchase agreements, and loans Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Loans7 Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8 Net portfolio holdings of Municipal Liquidity Facility LLC8 Net portfolio holdings of TALF II LLC8 Items in process of collection Bank premises Central bank liquidity swaps9 Foreign currency denominated assets10 Other assets11 Eliminations from consolidation Wednesday Jul 5, 2023 11,037 5,200 1,323 (0) Change since Wednesday Wednesday Jun 28, 2023 Jul 6, 2022 - 8,192,587 7,646,946 5,106,460 268,928 4,360,825 368,228 108,479 2,347 2,538,138 295,568 -27,258 0 277,332 - 19,969 5,595 1,639 69 447 219 18,276 41,951 (0) 8,298,312 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 13 + 0 0 83 + - 43,790 38,619 38,620 2,875 36,098 0 353 0 0 564 88 0 4,694 + 590,769 809,081 637,884 57,116 581,133 16,114 16,479 0 171,198 37,541 2,075 0 257,929 + + + + 20 2 76 19 16 91 48 1,391 + + + 6,432 52 540 30 163 128 443 3,944 - 42,602 - 593,539 + + - 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 Jul 5, 2023 Change since Wednesday Wednesday Jun 28, 2023 Jul 6, 2022 2,296,997 2,191,320 3,822,791 0 3,179,646 446,864 9,697 186,583 572 13,358 -69,142 + + + - - 3,681 80,551 40,531 0 3,608 38,303 12 1,392 34 0 6,299 + + - 61,916 249,330 326,749 0 43,285 241,079 1,235 43,621 271 4,582 75,778 8,255,896 - 42,603 - 594,251 35,631 6,785 0 + 1 0 0 + 712 0 0 42,416 + 1 + 712 + + + + 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 $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 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, July 5, 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 1,323 557 27 5,175 39 525 120 752 46 1,187 188 2,287 102 1,104 243 479 26 264 40 452 87 1,290 161 2,165 244 8,192,587 156,643 4,465,616 132,367 246,914 555,959 542,400 498,730 125,537 61,547 110,915 398,071 897,887 19,969 19,969 0 0 0 0 0 0 0 0 0 0 0 5,595 1,639 219 0 0 9 5,595 1,639 78 0 0 8 0 0 21 0 0 44 0 0 7 0 0 8 0 0 5 0 0 1 0 0 2 0 0 5 0 0 31 18,276 42,467 0 + 786 898 23,764 - 6,504 21,394 183,779 - 657 748 4,099 + 1,723 1,269 71,577 + 8,298,312 202,654 4,322,262 130,325 322,302 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,700 3,027 190,720 + 754,827 548 2,663 16,765 564,772 636 2,392 12,172 490,941 411 741 2,524 124,674 116 543 2,767 59,744 194 887 7,361 105,176 385 2,031 11,902 390,041 2,615 5,874 78,222 830,594 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, July 5, 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 2,296,997 2,191,320 3,822,791 82,496 42,336 66,938 723,428 1,223,743 2,404,879 54,416 36,116 38,743 112,448 67,340 139,995 171,861 152,493 431,365 356,396 148,449 57,763 127,112 136,599 230,830 73,017 32,780 17,881 34,465 14,858 10,183 51,848 28,331 24,643 191,993 106,842 91,387 317,518 201,432 308,185 3,179,646 446,864 9,697 186,583 66,925 0 2 11 1,894,625 446,864 9,671 53,718 38,741 0 1 0 139,962 0 4 29 430,721 0 8 636 57,734 0 1 28 99,084 0 1 131,744 17,873 0 1 7 10,114 0 0 69 24,612 0 0 31 91,101 0 1 284 308,154 0 6 25 -76,292 -1,462 -51,454 -618 -2,196 -10,181 -4 -6,092 -103 -145 -270 -1,282 -2,484 13,358 9,684 3,674 0 0 0 0 0 0 0 0 0 0 7,721 858 3,124 161 266 807 844 472 137 114 163 231 544 8,255,896 200,849 4,307,395 128,817 317,853 746,344 563,448 488,920 123,712 59,475 104,716 389,171 825,195 35,631 6,785 0 1,513 292 0 12,454 2,414 0 1,264 244 0 3,809 640 0 7,108 1,374 0 1,121 203 0 1,784 236 0 809 153 0 226 43 0 388 72 0 727 143 0 4,428 971 0 8,298,312 202,654 4,322,262 130,325 322,302 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 754,827 564,772 490,941 124,674 59,744 105,176 390,041 830,594 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, July 5, 2023 (continued) 1. 2. 3. 4. 5. 6. 7. 8. 9. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank. Revalued daily at current foreign currency exchange rates. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States. The Federal Reserve Banks remit residual net earnings to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume. Book value. Amount of equity investments in MS Facilities LLC of $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 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 Jul 5, 2023 2,675,843 378,845 2,296,997 2,296,997 11,037 5,200 2,280,761 0 7,646,946 2,363,694 5,283,252
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