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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 September 21, 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 Sep 20, 2023 Averages of daily figures Change from week ended Sep 13, 2023 Sep 21, 2022 8,002,983 7,464,613 4,964,010 247,882 4,240,315 365,380 110,433 2,347 2,498,256 288,721 -27,164 2 0 2 208,802 3,183 0 78 5,412 107,758 92,371 - 19,349 5,624 1,218 -203 247 41,774 17,988 11,041 5,200 52,406 + + + + - + + + + - + 59,221 19,973 19,359 5,082 14,489 0 212 0 614 622 267 4 4 0 40,517 1,004 0 1 79 108 41,335 + 211 3 1 29 17 1,847 53 0 0 14 + + + 8,089,618 59,260 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Wednesday Sep 20, 2023 780,786 928,490 710,848 67,844 642,973 10,381 10,350 0 217,642 36,803 399 2 0 2 187,825 3,475 0 36 8,865 107,758 92,371 7,988,106 7,457,541 4,960,735 246,946 4,237,898 365,380 110,510 2,347 2,494,460 288,150 -26,821 0 0 0 201,102 3,078 0 81 5,339 107,599 85,005 + 6,326 64 929 51 26 4,345 733 0 0 847 19,326 5,626 1,219 -205 247 41,920 18,024 11,041 5,200 52,406 - 779,207 8,074,777 + + + + + + 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 Sep 20, 2023 Averages of daily figures Change from week ended Sep 13, 2023 Sep 21, 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 2,326,200 1,746,687 305,275 1,441,412 344 819,652 0 640,296 9,688 169,668 13,358 -48,273 + + + 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. + + + - + 5,697 78,475 8,772 87,247 1 127,399 0 118,789 136 8,747 0 1,321 4,857,968 + 3,231,649 - + + Wednesday Sep 20, 2023 + - 47,834 754,393 19,767 774,159 244 99,676 0 52,200 2,252 49,728 4,582 96,252 2,325,195 1,804,707 317,723 1,486,984 336 834,755 0 661,717 9,688 163,350 13,358 -47,978 44,549 - 906,825 4,930,373 103,810 + 127,617 3,144,404 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 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 Sep 20, 2023 3,434,332 2,999,995 351,430 82,906 36,759 36,759 36,759 0 Averages of daily figures Change from week ended Sep 13, 2023 Sep 21, 2022 + + - 447 880 324 107 4,891 4,891 4,891 0 + + + - 49,644 21,783 29,412 1,551 8,944 8,944 8,934 10 Wednesday Sep 20, 2023 3,437,209 3,004,797 349,609 82,803 39,868 39,868 39,868 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, September 20, 2023 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities2 Holdings Weekly changes 86,892 1 Federal agency debt securities3 Holdings Weekly changes 16 days to 90 days + 55,950 13,057 0 0 4,406 - 254,315 18,852 0 0 Mortgage-backed securities4 0 1 Holdings 0 0 Weekly changes Loan participations held by MS Facilities LLC (Main Street Lending 0 0 Program)5 Municipal notes held by Municipal 0 2,907 Liquidity Facility LLC6 55 305 Loans held by TALF II LLC7 0 0 Repurchase agreements8 247 0 Central bank liquidity swaps9 1,804,707 0 Reverse repurchase agreements8 0 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 6. 7. 8. 9. Over 1 year to 5 years Over 5 year to 10 years 104,469 5,335 0 614,151 9,872 1,706,087 6,182 0 0 0 0 91 days to 1 year - 22 0 - 5,600 3,990 + 826,726 49 Over 10 years ... 1,503,507 58 + 2,347 0 - 39,112 3,179 All 201,102 4,960,735 21,744 - 0 0 2,449,725 2,758 + 2,347 0 2,494,460 4,410 - 0 9,691 ... ... 9,691 0 33 ... 0 ... 0 0 0 ... 0 ... ... ... ... ... 0 ... ... ... ... ... 0 ... ... 2,907 393 0 247 1,804,707 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 outstanding 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 Sep 20, 2023 Account name 2,494,460 2,486,099 8,360 Mortgage-backed securities held outright1 Residential mortgage-backed securities Commercial mortgage-backed securities 52 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 LLCs Millions of dollars Wednesday Sep 20, 2023 Net portfolio holdings of Credit Facilities LLCs Outstanding principal amount of loan extended to the LLC1 8,739 MS Facilities LLC (Main Street Lending Program) 2,907 Municipal Liquidity Facility LLC 394 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 8,750 2,907 393 Treasury contributions and other assets3 10,577 2,719 825 Total 19,326 5,626 1,219 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 June 30, 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 Sep 20, 2023 11,037 5,200 1,453 (0) Change since Wednesday Wednesday Sep 13, 2023 Sep 21, 2022 + 7,919,973 7,457,541 4,960,735 246,946 4,237,898 365,380 110,510 2,347 2,494,460 288,150 -26,821 0 201,102 - 19,326 5,626 1,219 58 439 247 18,024 41,490 + + + (0) 8,024,090 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 0 0 21 + 0 0 215 75,159 26,155 21,744 5,036 16,920 0 211 0 4,410 1,004 512 0 48,513 + + 790,730 933,612 713,184 67,846 645,390 10,381 10,432 0 220,427 36,990 107 0 179,978 + + 253 3 1 1 0 17 31 713 + + + 6,361 65 929 22 171 26 917 4,333 - 74,689 - 792,712 + + - - 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 Sep 20, 2023 Change since Wednesday Wednesday Sep 13, 2023 Sep 21, 2022 2,274,574 1,804,707 3,979,167 0 3,144,412 661,717 9,688 163,350 262 13,358 -90,708 - + + + 4,628 30,927 40,400 0 166,119 124,353 1 1,367 17 0 1,273 + + + - 47,082 806,661 67,468 0 140,671 28,569 2,249 46,882 59 4,582 96,961 7,981,360 - 74,699 - 793,594 35,945 6,785 0 + 10 0 0 + 883 0 0 42,730 + 10 + 883 + + - 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, September 20, 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 1,453 557 42 5,175 44 525 132 752 60 1,187 191 2,287 110 1,104 258 479 31 264 47 452 97 1,290 180 2,165 260 7,919,973 153,392 4,337,683 129,484 240,863 543,574 529,882 486,902 122,788 59,923 108,567 389,953 816,962 19,326 19,326 0 0 0 0 0 0 0 0 0 0 0 5,626 1,219 247 0 0 11 5,626 1,219 88 0 0 9 0 0 23 0 0 50 0 0 7 0 0 9 0 0 6 0 0 2 0 0 3 0 0 5 0 0 35 18,024 41,986 0 - 776 911 2,634 - 6,414 19,269 98,392 - 648 739 9,208 + 1,700 1,237 37,753 + 8,024,090 172,381 4,277,125 122,329 282,388 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 3,649 3,057 192,571 744,279 540 3,925 2,231 534,520 627 2,356 60,164 431,092 406 772 6,741 117,740 114 545 2,909 57,985 191 934 11,634 98,610 380 2,077 40,260 + 353,626 2,579 6,164 3,849 832,015 H.4.1 6. Statement of Condition of Each Federal Reserve Bank, September 20, 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 2,274,574 1,804,707 3,979,167 79,814 34,867 47,024 722,121 1,007,839 2,590,458 53,736 29,744 38,063 112,152 55,459 113,350 166,431 125,589 457,048 352,690 122,258 57,507 124,190 112,499 199,642 72,728 26,997 17,018 34,280 12,237 11,260 48,978 23,333 26,034 189,712 87,992 76,238 317,743 165,894 345,525 3,144,412 661,717 9,688 163,350 46,961 0 2 61 1,866,088 661,717 9,662 52,991 38,062 0 1 0 113,314 0 4 31 456,634 0 8 406 57,479 0 1 27 90,031 0 1 109,610 17,006 0 1 12 11,184 0 0 76 26,004 0 0 30 76,154 0 1 83 345,496 0 6 23 -102,388 -1,931 -67,340 -940 -3,473 -14,786 -2 -7,943 -120 -188 -405 -1,643 -3,617 13,358 9,684 3,674 0 0 0 0 0 0 0 0 0 0 11,942 1,116 5,502 212 427 1,511 649 673 153 128 205 325 1,043 7,981,360 170,574 4,262,253 120,816 277,914 735,792 533,102 429,061 116,776 57,716 98,145 352,623 826,588 35,945 6,785 0 1,516 292 0 12,458 2,414 0 1,269 244 0 3,834 640 0 7,113 1,374 0 1,215 203 0 1,794 236 0 812 153 0 226 43 0 393 72 0 859 143 0 4,456 971 0 8,024,090 172,381 4,277,125 122,329 282,388 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 744,279 534,520 431,092 117,740 57,985 98,610 353,626 832,015 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, September 20, 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 Sep 20, 2023 2,693,073 418,499 2,274,574 2,274,574 11,037 5,200 2,258,337 0 7,457,541 2,036,285 5,421,257
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