The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks May 11, 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 May 10, 2023 Averages of daily figures Change from week ended May 3, 2023 May 11, 2022 8,460,614 7,801,075 5,222,948 280,977 4,471,870 365,433 104,668 2,347 2,575,780 301,362 -27,441 9 0 9 309,035 4,621 0 5 8,450 81,520 214,439 + + + 22,240 5,616 1,899 -161 422 46,559 18,858 11,041 5,200 51,723 + + + + + + + + + + + + 42,975 24,473 24,473 11 24,881 22 376 0 0 532 35 9 0 9 20,596 46,078 0 2 95 3,201 22,373 + 18 2 3 317 12 2,306 21 0 0 14 + + + 8,547,436 42,941 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Wednesday May 10, 2023 444,025 682,405 543,165 45,067 503,593 15,429 20,924 0 139,241 38,829 4,015 9 0 9 286,850 3,466 0 3 12,578 81,520 214,439 8,466,412 7,801,273 5,223,146 281,041 4,471,870 365,436 104,799 2,347 2,575,780 301,158 -27,355 25 0 25 313,360 9,323 0 5 8,400 83,101 212,531 + 6,402 1,043 566 27 200 2,203 333 0 0 728 22,260 5,618 1,900 -159 422 47,911 18,826 11,041 5,200 51,723 - 442,965 8,553,203 + + + + + + + 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 May 10, 2023 Averages of daily figures Change from week ended May 3, 2023 May 11, 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 2,330,201 2,600,766 381,015 2,219,751 204 411,645 0 197,666 9,678 204,300 15,347 -7,156 + + - 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. + + + + + - - 5,314 77,576 9,387 68,189 17 72,342 0 71,550 7 786 0 5,076 5,351,007 - 3,196,429 + - Wednesday May 10, 2023 + - 57,558 452,917 94,552 358,365 122 798,039 0 747,992 2,172 52,220 5,911 57,489 2,332,909 2,618,178 385,029 2,233,149 209 368,158 0 154,808 9,684 203,666 15,347 -6,910 149,664 - 350,842 5,327,892 106,723 - 92,123 3,225,311 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 $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 May 10, 2023 3,381,547 2,960,629 339,239 81,679 41,415 41,415 41,399 16 Averages of daily figures Change from week ended May 3, 2023 May 11, 2022 + + + + - 8,705 7,979 590 137 3,936 3,936 3,936 0 + + 40,850 60,332 20,426 945 514 514 530 16 Wednesday May 10, 2023 3,382,060 2,960,810 339,525 81,725 44,759 44,759 44,743 16 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, May 10, 2023 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 215,493 1 Federal agency debt securities3 Holdings Weekly changes - 103,153 4,460 2. 3. 4. 5. 6. 7. 8. 9. Over 5 year to 10 years 81,909 8,420 0 657,905 436 1,821,980 + 162 0 0 0 0 0 0 3 0 19 0 8,590 0 0 0 10,940 0 55 0 0 0 0 2,907 824 ... 0 ... 0 0 0 ... 0 ... ... 91 days to 1 year 7,538 + 286,705 4,118 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 25 Repurchase agreements8 422 Central bank liquidity swaps9 2,618,178 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 + + 871,395 111 Over 10 years ... 1,482,009 96 + 2,347 0 + All 313,360 5,223,146 462 + 0 0 2,347 0 2,522,017 128 2,575,780 0 ... ... 10,940 ... ... ... 0 ... ... ... ... ... 0 ... ... 2,907 879 25 422 2,618,178 0 45,151 128 - 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 Wednesday May 10, 2023 Account name 2,575,780 2,567,371 8,409 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 101 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 15 1 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 May 10, 2023 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 10,296 MS Facilities LLC (Main Street Lending Program) 2,907 Municipal Liquidity Facility LLC 927 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 9,930 2,907 879 Treasury contributions and other assets3 12,330 2,711 1,021 Total 22,260 5,618 1,900 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 May 10, 2023 11,037 5,200 1,295 (0) Change since Wednesday Wednesday May 3, 2023 May 11, 2022 + 8,388,461 7,801,273 5,223,146 281,041 4,471,870 365,436 104,799 2,347 2,575,780 301,158 -27,355 25 313,360 + + + 22,260 5,618 1,900 88 447 422 18,826 47,463 (0) 8,503,017 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 4 + 0 0 11 + + - 4,538 461 462 75 0 25 362 0 0 525 22 25 4,477 + + 433,885 682,720 543,479 45,003 503,593 15,426 20,543 0 139,241 38,829 3,954 25 291,594 + + + + + + + 23 3 2 28 6 12 46 3,529 + + + + 6,391 1,042 566 24 173 200 309 2,521 - 977 - 438,991 + + 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 May 10, 2023 Change since Wednesday Wednesday May 3, 2023 May 11, 2022 2,282,686 2,618,178 3,593,469 0 3,225,311 154,808 9,684 203,666 247 15,347 -49,313 + + + + - - 4,320 22,773 22,734 0 59,075 33,501 8 2,848 308 0 5,148 + + - 58,653 443,415 879,158 0 70,370 764,523 2,249 46,514 5 5,911 56,785 8,460,614 - 1,175 - 439,780 35,618 6,785 0 + 198 0 0 + 789 0 0 42,403 + 198 + 789 + + - 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 $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, May 10, 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 1,295 557 21 5,175 36 525 115 752 39 1,187 178 2,287 95 1,104 246 479 27 264 39 452 89 1,290 157 2,165 252 8,388,461 158,960 4,560,082 134,509 251,510 566,517 551,604 507,653 123,541 62,939 112,690 402,291 956,163 22,260 22,260 0 0 0 0 0 0 0 0 0 0 0 5,618 1,900 422 0 0 18 5,618 1,900 150 0 0 15 0 0 40 0 0 85 0 0 13 0 0 15 0 0 9 0 0 3 0 0 4 0 0 9 0 0 60 18,826 47,998 0 + 810 1,013 8,742 - 6,699 25,097 267,954 - 676 861 1,221 + 1,775 1,475 49,574 + 8,503,017 192,382 4,336,803 135,480 305,166 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,812 3,519 249,127 + 824,426 564 3,129 34,851 + 592,544 655 2,812 13,690 526,176 424 947 198 125,229 119 544 2,170 61,739 200 893 5,742 + 108,587 397 2,315 3,811 410,270 2,694 5,393 82,511 884,215 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, May 10, 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 2,282,686 2,618,178 3,593,469 78,708 50,583 50,219 730,231 1,462,122 2,161,874 52,369 43,151 38,655 111,424 80,457 110,371 173,505 182,198 465,880 355,301 177,366 58,022 123,590 163,208 241,354 69,623 39,166 15,405 32,776 17,752 10,951 49,706 33,850 24,586 189,261 127,655 93,128 316,191 240,670 323,024 3,225,311 154,808 9,684 203,666 50,209 0 2 8 1,945,090 154,808 9,658 52,318 38,653 0 1 0 110,340 0 4 28 465,440 0 8 432 57,993 0 1 27 90,693 0 1 150,659 15,398 0 1 7 10,894 0 0 57 24,555 0 0 30 93,051 0 1 77 322,995 0 6 23 -57,000 -1,091 -39,553 -381 -1,347 -6,672 -9 -4,494 -68 -122 -188 -907 -2,168 15,347 11,453 3,894 0 0 0 0 0 0 0 0 0 0 7,933 706 3,368 180 281 1,039 540 497 141 112 173 262 635 8,460,614 190,577 4,321,936 133,974 301,188 815,949 591,219 524,155 124,268 61,470 108,127 409,398 878,353 35,618 6,785 0 1,513 292 0 12,454 2,414 0 1,262 244 0 3,339 640 0 7,102 1,374 0 1,122 203 0 1,784 236 0 808 153 0 226 43 0 388 72 0 728 143 0 4,891 971 0 8,503,017 192,382 4,336,803 135,480 305,166 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 824,426 592,544 526,176 125,229 61,739 108,587 410,270 884,215 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, May 10, 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 $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 May 10, 2023 2,646,102 363,417 2,282,686 2,282,686 11,037 5,200 2,266,449 0 7,801,298 2,774,894 5,026,404