May 2024 Central Liquidity Facility

MANAGEMENT OVERVIEW

May 31, 2024

Balance Sheet

Assets: Total assets were $946,182 thousand as of May 2024 consisting of cash, U.S. Treasury securities and associated interest receivable.

Liabilities: Total liabilities for May were $33,748 thousand, inclusive of accrued capital stock dividend and LRC account interest payables of $6,761 thousand for the quarter to date and Other Liabilities of $6,985 thousand.

Capital Stock: Capital stock shares increased from the prior month to $869,782 thousand in May 2024.

Equity: As of May 31, 2024, $1,511 thousand has been added to current year retained earnings.

Statements of Revenues, Expenses, and Changes in Fund Balance

Investment Income: Investment earnings increased from $3,752 thousand in April to $3,995 thousand in May primarily due to one more day in the month.

Expense: Operating expenses for the month were $176 thousand.

Net Income: Monthly net income before dividends was $3,743 thousand which is $252 thousand higher than prior month primarily due to higher investment income.

Dividends: Dividend expense for the month was $3,400 thousand.

Borrowing Authority, Investment Activity, Membership and Loans

Borrowing Authority: As of May 31, 2024, the CLF's statutory borrowing authority was $21.4 billion.

Investment Purchases: $90,000,000.

Maturities of Treasury Notes: $71,400,000.

Outstanding Investments (Treasury securities listed at carrying amount): U.S. Treasury Notes $844,486,208 and U.S. Treasury Cash $98,871,059.

Regular Membership: 422. Agent Membership: 0.

Loans: $0. Borrowing Activity: $0.

BALANCE SHEETS

As of May 31, 2024 and May 31, 2023 (Dollars in thousands)

ASSETS	May 2024	May 2023
Cash and Cash Equivalents	$98,871	$24,766
Investments, Net U.S. Treasury Securities	844,486	829,715
Accrued Interest Receivable	2,825	3,542
TOTAL ASSETS	$946,182	$858,023

LIABILITIES	May 2024	May 2023
Accounts Payable	$516	$384
Dividends and Interest Payable	6,761	5,976
Member Deposits	19,486	8,225
Other Liabilities	6,985	1,009
TOTAL LIABILITIES	$33,748	$15,595

MEMBERS' EQUITY	May 2024	May 2023
Capital Stock Regular Members	$869,782	$802,461
Retained Earnings Prior Year	41,141	39,942
Retained Earnings Current Year	1,511	25
TOTAL MEMBERS' EQUITY	912,434	842,429
TOTAL LIABILITIES AND EQUITY	$946,182	$858,023

STATEMENTS OF OPERATIONS

For the Periods Ended May 31, 2024 and May 31, 2023 (Dollars in thousands)

REVENUES	May 2024	Year-to-Date May 2024	Year-to-Date May 2023
Investment Income	$3,995	$18,907	$14,370
Interest on Loan	-	11	-
Total Revenues	3,995	18,918	14,370

EXPENSES	May 2024	Year-to-Date May 2024	Year-to-Date May 2023
Employee Wages and Benefits, Net	135	659	604
Rent, Communications, and Utilities	2	13	14
Other General and Administrative Expenses	39	199	267
Total Operating Expenses	176	871	885
Interest - Notes Payable	-	11	-
Interest - Member Deposits	76	558	199
Total Expenses	252	1,440	1,084
NET INCOME BEFORE DIVIDENDS	3,743	17,478	13,287
Dividends	3,400	15,967	13,261
NET AMOUNT AFTER DIVIDENDS	343	1,511	25

DIVIDENDS, RATIOS AND SHARES OUTSTANDING

DIVIDEND RATES	2024	2023	2022
Dividend Rate First Quarter	4.54%	4.13%	0.20%
Dividend Rate Second Quarter	Blank	4.59%	0.82%
Dividend Rate Third Quarter	Blank	4.62%	2.24%
Dividend Rate Fourth Quarter	Blank	4.62%	3.71%

SELECTED RATIOS	5/31/2024	5/31/2023
Stock & Retained Earnings/Total Assets	96.43%	98.18%
Loans/Total Assets	0.00%	0.00%
Loans/Stock & Retained Earnings	0.00%	0.00%
Total Liabilities/Stock & Retained Earnings	3.70%	1.85%

SELECTED RATIOS	5/31/2024 Month	5/31/2024 YTD	5/31/2023 YTD
Annualized Operating Expenses/Average Total Assets	0.22%	0.23%	0.26%
Total Operating Expenses/Total Revenue	4.39%	4.61%	6.16%
Net Income(before Divds)/Total Revenue	93.67%	92.38%	92.46%
Loan/Total Revenue	0.00%	0.06%	0.00%

CAPITAL STOCK: Required ($50 par value; authorized: 34,791,296 shares; issued and outstanding: 17,395,648 shares)

The balances in the statement above are preliminary and unaudited.

The information in the supplement above are preliminary and unaudited.