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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

May 22, 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
May 21, 2025

Averages of daily figures
Change from week ended
May 14, 2025
May 22, 2024

6,643,674
6,387,639
4,213,437
195,418
3,594,399
313,767
109,853
2,347
2,171,855
239,958
-24,102
1
0
1
3,693
1,892
0
20
1,781
0
0

-

6,712
-281
15
30,039
19,030
11,041
15,200
53,105

+
+

+
-

+
-

+

21,491
3,913
2,823
0
3,037
0
215
0
1,090
447
450
0
0
0
453
450
0
5
7
0
0

+
-

111
30
15
16,131
28
0
0
14

+

6,742,050
21,448
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 21, 2025

621,850
473,604
275,081
200
233,007
36,394
5,880
0
198,523
27,478
1,188
15
0
14
114,956
4,679
0
5
1,148
109,123
0

6,641,404
6,385,159
4,213,515
195,418
3,594,399
313,767
109,931
2,347
2,169,296
239,726
-24,032
1
0
1
3,653
1,853
0
22
1,778
0
0

+
+

4,937
35
108
1,905
1,081
0
10,000
728

6,715
-290
15
30,457
19,258
11,041
15,200
53,105

-

610,041

6,740,008

+
-

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 21, 2025

Averages of daily figures
Change from week ended
May 14, 2025
May 22, 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

2,384,181
504,475
361,749
142,726
513
738,262
0
503,055
9,440
225,767
3,461
-178,311

+
+
-

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.

+
+
-

-

420
3,611
147
3,464
7
68,999
0
72,791
1
3,792
0
3,012

3,452,581

-

3,289,469

+

+

Wednesday
May 21, 2025

+
-

36,985
330,649
11,079
319,570
63
154,781
0
222,321
321
67,860
1,852
58,483

2,386,494
534,143
371,341
162,802
555
708,273
0
475,886
9,437
222,950
3,461
-176,683

75,195

-

508,716

3,456,243

53,746

-

101,325

3,283,765

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
May 21, 2025
3,252,645
2,900,079
268,110
84,456
31,977
31,977
31,977
0

Averages of daily figures
Change from week ended
May 14, 2025
May 22, 2024
+
+
+

13,173
10,537
2,490
146
390
390
390
0

+
-

71,144
29,419
45,182
3,457
118
118
118
0

Wednesday
May 21, 2025
3,254,181
2,905,298
264,474
84,409
36,089
36,089
36,089
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, May 21, 2025
Millions of dollars
Within 15
days

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

875

1

Federal agency debt securities3
Holdings
Weekly changes

-

60,460
36,613

2.
3.
4.
5.
6.
7.

Over 5 year
to 10 years

750

705

0

412,731
12,076

1,451,750
9,122

0
0

0
0

1,436
0

911
0

0
0

71
0

4,193
0

34,886
0

168
0
0
0
0

3,387
...
0
...
0

12
...
0
...
...

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

91 days to
1 year

1,323

+

210,420
31,188

0
0

Mortgage-backed securities4
0
Holdings
0
Weekly changes
Loan participations held by MS
Facilities 2020 LLC (Main Street
45
Lending Program)5
1
Repurchase agreements6
15
Central bank liquidity swaps7
534,143
Reverse repurchase agreements6
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

-

+

511,261
14,851

Over 10
years

All

...
1,566,894
8,895

+

3,653
4,213,515
2,878

-

0
0
2,130,145
3,649

-

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

2,347
0
2,169,296
3,649

-

3,613
1
15
534,143
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
Wednesday
May 21, 2025

Account name

2,169,296
2,161,320
7,976

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

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 May 21, 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
2,439
Program)
Note: Components may not sum to totals because of rounding.
1.
2.
3.

Outstanding
amount of
facility
asset
purchases2
2,644

Treasury
contributions
and
other assets3
4,071

Total
6,715

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
May 21, 2025
11,037
15,200
1,462

(0)

Change since
Wednesday
Wednesday
May 14, 2025
May 22, 2024

-

6,604,507
6,385,159
4,213,515
195,418
3,594,399
313,767
109,931
2,347
2,169,296
239,726
-24,032
1
3,653

-

6,715
75
576
15
19,258
29,882

(0)
6,688,726
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

0
0
12

+
-

0
10,000
22

+
-

-

7,849
6,525
2,878
0
3,091
0
214
0
3,649
528
450
0
346

-

615,458
474,195
275,252
200
233,007
36,394
6,051
0
198,944
27,472
1,176
0
114,966

+
+
+
-

114
23
1
15
287
16,865

+
+
+
-

4,589
29
127
108
1,363
2,180

-

24,544

-

610,840

+
-

+

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 21, 2025

Change since
Wednesday
Wednesday
May 14, 2025
May 22, 2024

2,335,402
534,143
3,992,038
0
3,283,765
475,886
9,437
222,950
365
3,461
-222,200

+
+
-

+
-

-

2,647
14,930
39,851
0
48,050
86,547
4
1,349
109
0
3,336

+
-

36,611
330,767
257,665
0
91,249
234,996
240
68,821
5
1,497
59,844

6,643,208

-

25,719

-

613,168

38,733
6,785
0

+

1,175
0
0

+

2,328
0
0

45,518

+

1,175

+

2,328

+
-

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, May 21, 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
1,462

898
57

8,066
55

815
174

1,238
43

1,891
192

3,695
101

1,720
244

794
32

446
59

740
100

2,294
161

3,640
244

6,604,507

152,001

3,503,817

130,306

269,765

594,112

436,644

335,119

99,699

44,791

63,380

296,130

678,744

6,715
15

6,715
1

0
5

0
1

0
2

0
3

0
1

0
1

0
0

0
0

0
0

0
0

0
2

19,258
30,532
0 +

813
753
1,990 -

6,497
13,724
77,766 +

666
657
5,001 -

1,997
1,222
26,608 -

6,688,726
163,229 3,454,397
137,620
247,657
Total assets
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

3,751
3,013
9,192 +
593,770

652
3,304
22,015 +
466,412

1,075
1,511
64,533 +
404,203

488
802
7,602 +
109,418

124
395
4,408 +
50,222

213
613
8,507 +
73,554

562
1,424
9,540 310,111

2,419
3,117
10,031
678,133

H.4.1

6. Statement of Condition of Each Federal Reserve Bank, May 21, 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

2,335,402
534,143
3,992,038

80,101
12,298
69,336

750,547
283,472
2,541,405

59,628
10,538
69,586

118,608
21,768
112,355

167,541
48,071
404,174

365,562
35,326
63,126

104,127
27,098
287,540

77,618
8,059
22,393

30,652
3,568
15,973

35,887
5,126
32,808

204,552
23,958
80,975

340,579
54,861
292,367

3,283,765
475,886
9,437
222,950

69,319
0
2
15

1,999,069
475,886
9,411
57,040

69,585
0
1
0

112,336
0
4
15

403,551
0
8
615

63,098
0
1
26

122,555
0
2
164,983

22,391
0
1
1

15,862
0
0
111

32,779
0
0
29

80,901
0
1
73

292,319
0
5
43

-229,646

-4,906

-138,560

-3,870

-10,024

-36,672

104

-17,537

19

-388

-1,038

-965

-15,810

3,461

3,461

0

0

0

0

0

0

0

0

0

0

0

7,810

1,065

2,675

216

308

894

745

512

198

145

190

263

600

6,643,208

161,356

3,439,539

136,098

243,015

584,007

464,863

401,740

108,287

49,949

72,973

308,784

672,597

38,733
6,785
0

1,586
287
0

12,570
2,288
0

1,287
235
0

3,938
704
0

8,441
1,322
0

1,319
230
0

2,085
379
0

958
172
0

229
44
0

507
75
0

1,130
198
0

4,684
852
0

6,688,726
163,229 3,454,397
137,620
247,657
Total liabilities and capital
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

593,770

466,412

404,203

109,418

50,222

73,554

310,111

678,133

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 21, 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
May 21, 2025
2,804,321
468,919
2,335,402
2,335,402
11,037
15,200
2,309,165
0
6,385,160
607,915
5,777,245