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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

June 26, 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
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
Jun 25, 2025

Averages of daily figures
Change from week ended
Jun 18, 2025
Jun 26, 2024

6,628,411
6,365,724
4,212,461
195,418
3,592,050
313,767
111,226
2,347
2,150,916
237,479
-23,797
2
0
2
7,258
5,519
0
34
1,704
0
0

+

5,175
-361
19
36,912
19,430
11,041
15,200
53,175

+
-

+
+
+
+
+
+
+
-

+

3,362
5,235
53
0
248
0
302
0
5,289
537
128
2
0
2
975
1,005
0
3
34
0
0

+
-

74
25
2
1,407
63
0
0
14

+

6,727,257
3,411
Total factors supplying reserve funds
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

Wednesday
Jun 25, 2025

579,401
436,443
240,954
125
196,670
37,344
7,065
0
195,489
27,120
991
5
1
4
109,366
1,402
0
18
1,145
106,802
0

6,614,530
6,353,460
4,212,617
195,418
3,592,093
313,767
111,339
2,347
2,138,496
237,082
-23,734
16
0
16
8,009
6,308
0
28
1,673
0
0

+
+

5,986
49
104
1,318
1,769
0
10,000
728

5,179
-406
19
34,905
19,513
11,041
15,200
53,175

-

566,904

6,713,458

+
-

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
Jun 25, 2025

Averages of daily figures
Change from week ended
Jun 18, 2025
Jun 26, 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

2,394,533
537,392
368,325
169,066
467
601,243
0
364,375
9,438
227,430
2,029
-177,735

+
+
+

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.

+
+
-

+

4,191
5,804
3,142
2,663
11
32,925
0
26,613
8
6,304
0
2,303

3,357,929

+

3,369,328

-

+
+
+

Wednesday
Jun 25, 2025

+
-

42,811
287,651
21,812
265,840
57
331,634
0
401,042
245
69,653
2,929
54,239

2,395,195
584,051
373,172
210,879
438
561,538
0
334,579
9,439
217,521
2,029
-177,066

33,626

-

633,585

3,366,184

37,038

+

66,681

3,347,274

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
Jun 25, 2025
3,219,130
2,873,423
261,600
84,107
25,643
25,643
25,643
0

Averages of daily figures
Change from week ended
Jun 18, 2025
Jun 26, 2024
-

7,305
4,731
2,571
4
3,641
3,641
3,641
0

+
-

95,100
53,391
45,225
3,516
12,981
12,981
12,981
0

Wednesday
Jun 25, 2025
3,219,019
2,875,504
259,511
84,004
32,945
32,945
32,945
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, June 25, 2025
Millions of dollars
Within 15
days

Remaining Maturity
Loans
U.S. Treasury securities2
Holdings
Weekly changes

3,233

1

Federal agency debt securities3
Holdings
Weekly changes

16 days to
90 days

+

64,395
9,944

3,344

-

194,397
11,406

0
0

Mortgage-backed securities4
0
Holdings
0
Weekly changes
Loan participations held by MS
Facilities 2020 LLC (Main Street
0
Lending Program)5
16
Repurchase agreements6
19
Central bank liquidity swaps7
584,051
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

273
0
0
0
0

Over 1 year
to 5 years

Over 5 year
to 10 years

1,403

29

0

422,659
1,502

1,449,600
+
106

0
0

1,436
0

91 days to
1 year

-

96
1

2,591
...
0
...
0

-

4,188
54

15
...
0
...
...

+

511,577
31

Over 10
years
...
1,569,988
136

+

911
0

-

33,597
918

...
...
0
...
...

All
8,009
4,212,617
314

+

0
0
2,100,614
16,700

-

...
...
0
...
...

2,347
0
2,138,496
17,672

-

2,879
16
19
584,051
0

Loans includes primary, secondary, and seasonal loans; 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 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
Jun 25, 2025

Mortgage-backed securities held outright1
Residential mortgage-backed securities
Commercial mortgage-backed securities

2,138,496
2,130,563
7,933
78

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 Jun 25, 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
2,266
Program)
Note: Components may not sum to totals because of rounding.
1.
2.
3.

Outstanding
amount of
facility
asset
purchases2
2,302

Treasury
contributions
and
other assets3
2,876

Total
5,179

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 March
31, 2025.
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
Items in process of collection
Bank premises
Central bank liquidity swaps9
Foreign currency denominated assets10
Other assets11

Eliminations from
consolidation

Wednesday
Jun 25, 2025
11,037
15,200
1,455

(0)

Change since
Wednesday
Wednesday
Jun 18, 2025
Jun 26, 2024

-

6,574,833
6,353,460
4,212,617
195,418
3,592,093
313,767
111,339
2,347
2,138,496
237,082
-23,734
16
8,009

+

5,179
60
585
19
19,513
34,321

(0)
6,662,200
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

0
0
2

+
+

0
10,000
8

+
-

+
+
+

17,102
17,358
314
0
50
0
264
0
17,672
735
110
16
866

+
+
-

573,077
438,455
240,954
125
196,627
37,344
7,108
0
197,501
27,123
958
15
108,472

+
+
+
+
-

5
9
14
2
72
1,849

+
+
+
-

5,994
15
153
105
1,910
1,871

-

18,856

-

568,963

+
+

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
Jun 25, 2025

Change since
Wednesday
Wednesday
Jun 18, 2025
Jun 26, 2024

2,343,909
584,051
3,908,812
0
3,347,274
334,579
9,439
217,521
466
2,029
-222,606

+
+
-

+
-

+

1,158
6,862
28,690
0
24,283
49,272
6
3,707
2
0
1,788

+
+
+
-

42,377
295,715
258,731
0
78,378
409,627
243
72,762
31
2,929
56,242

6,616,661

-

18,880

-

571,208

38,755
6,785
0

+

25
0
0

+

2,247
0
0

45,540

+

25

+

2,247

+
+
+

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, June 25, 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
1,455

898
52

8,066
52

815
173

1,238
43

1,891
200

3,695
105

1,720
243

794
31

446
57

740
98

2,294
161

3,640
241

6,574,833

151,218

3,486,051

129,626

268,374

591,034

434,450

333,396

99,214

44,536

63,069

295,356

678,508

5,179
19

5,179
1

0
6

0
1

0
2

0
4

0
1

0
1

0
0

0
0

0
0

0
1

0
2

19,513
34,965
0 +

824
857
11,333 -

6,583
16,165
195,457 +

675
745
4,541 -

2,024
1,420
13,026 +

6,662,200
170,362 3,321,466
136,577
260,074
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

3,800
3,433
3,789 +
604,151

661
3,595
35,458 +
477,965

1,090
1,744
71,036 +
409,229

494
676
10,211 +
111,421

125
441
5,389 +
50,994

216
672
13,221 +
78,016

570
1,631
15,575 +
315,588

2,451
3,586
37,929
726,357

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 25, 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

2,343,909
584,051
3,908,812

79,843
13,447
76,954

742,592
309,959
2,390,338

62,082
11,522
65,131

118,817
23,802
122,427

170,545
52,563
407,236

370,944
38,627
65,872

105,458
29,630
289,083

77,673
8,812
23,578

31,455
3,901
15,594

37,736
5,605
34,961

204,916
26,197
83,615

341,846
59,987
334,024

3,347,274
334,579
9,439
217,521

76,936
0
2
16

1,987,916
334,579
9,413
58,430

65,130
0
1
0

122,408
0
4
15

406,628
0
8
599

65,845
0
1
26

130,970
0
2
158,111

23,574
0
1
2

15,451
0
0
142

34,934
0
0
27

83,507
0
1
107

333,974
0
5
45

-233,715

-4,988

-140,854

-3,963

-10,061

-37,361

45

-18,205

-3

-397

-1,104

-814

-16,008

2,029

2,029

0

0

0

0

0

0

0

0

0

0

0

11,574

1,204

4,575

282

447

1,404

928

777

231

169

237

348

973

6,616,661

168,490

3,306,610

135,055

255,432

594,388

476,416

406,742

110,291

50,721

77,435

314,262

720,821

38,755
6,785
0

1,586
287
0

12,568
2,288
0

1,287
235
0

3,938
704
0

8,442
1,322
0

1,319
230
0

2,109
379
0

958
172
0

229
44
0

506
75
0

1,128
198
0

4,684
852
0

6,662,200
170,362 3,321,466
136,577
260,074
Total liabilities and capital
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

604,151

477,965

409,229

111,421

50,994

78,016

315,588

726,357

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, June 25, 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; 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 2020 LLC.

Note on consolidation:
On July 15, 2020, the Federal Reserve Bank of Boston (FRBB) began extending loans to the MS Facilities 2020 LLC, under the authority of section 13(3) of the Federal Reserve Act. The LLC is 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 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 FRBB is the managing member of MS Facilities 2020 LLC. Consistent with generally accepted accounting principles, the assets and liabilities of the LLC have been accounted for and consolidated
with the assets and liabilities of the FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the FRBB to the LLC is
eliminated as are any balances held at the Federal Reserve Bank of New York (FRBNY) for the LLC consolidated to the FRBB. Treasury contributions to credit facilities are held at FRBNY until
invested. Net assets of the LLC appear as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the 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). Net portfolio holdings of the LLC include assets purchased pursuant to terms of the credit facility and the
amount provided by U.S. Treasury as credit protection to the FRBB appear 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
Jun 25, 2025
2,804,779
460,870
2,343,909
2,343,909
11,037
15,200
2,317,672
0
6,353,476
696,361
5,657,115