FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, September 1, 2016

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	September 1, 2016

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	Averages of daily figures			Wednesday Aug 31, 2016
	Week ended Aug 31, 2016	Change from week ended
	Week ended Aug 31, 2016	Aug 24, 2016	Sep 2, 2015
Reserve Bank credit	4,418,019	- 19,530	- 19,423	4,417,144
Securities held outright¹	4,230,069	- 18,975	- 3,597	4,230,119
U.S. Treasury securities	2,463,598	+ 94	+ 1,670	2,463,645
Bills²	0	0	0	0
Notes and bonds, nominal²	2,342,468	- 136	- 4,172	2,341,647
Notes and bonds, inflation-indexed²	103,732	+ 136	+ 5,198	104,553
Inflation compensation³	17,398	+ 94	+ 645	17,445
Federal agency debt securities²	22,492	0	- 12,601	22,492
Mortgage-backed securities⁴	1,743,979	- 19,068	+ 7,334	1,743,982
Unamortized premiums on securities held outright⁵	178,438	- 975	- 16,641	178,323
Unamortized discounts on securities held outright⁵	-15,622	+ 34	+ 1,624	-15,615
Repurchase agreements⁶	0	0	0	0
Loans	214	+ 2	- 33	207
Primary credit	3	- 3	- 2	1
Secondary credit	0	0	0	0
Seasonal credit	210	+ 4	- 32	206
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,707	0	+ 8	1,707
Float	-551	- 280	- 701	-1,149
Central bank liquidity swaps⁸	1,351	+ 1,329	+ 1,214	1,351
Other Federal Reserve assets⁹	22,414	- 665	- 1,295	22,201
Foreign currency denominated assets¹⁰	21,427	- 254	+ 1,442	21,228
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,053	+ 14	+ 831	48,053

Total factors supplying reserve funds	4,503,740	- 19,770	- 17,149	4,502,667

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

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	Averages of daily figures			Wednesday Aug 31, 2016
	Week ended Aug 31, 2016	Change from week ended
	Week ended Aug 31, 2016	Aug 24, 2016	Sep 2, 2015
Currency in circulation¹¹	1,465,232	+ 1,470	+ 85,962	1,468,632
Reverse repurchase agreements¹²	336,128	- 12,835	+ 84,926	422,530
Foreign official and international accounts	242,566	- 1,737	+ 76,615	251,162
Others	93,562	- 11,098	+ 8,311	171,368
Treasury cash holdings	109	- 10	- 47	112
Deposits with F.R. Banks, other than reserve balances	317,332	+ 12,639	+ 175,141	334,853
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	274,195	+ 19,819	+ 153,841	288,946
Foreign official	5,274	+ 99	+ 26	5,167
Other¹³	37,864	- 7,277	+ 21,275	40,740
Other liabilities and capital¹⁴	46,979	- 856	- 19,088	45,932

Total factors, other than reserve balances, absorbing reserve funds	2,165,780	+ 408	+ 326,894	2,272,060

Reserve balances with Federal Reserve Banks	2,337,960	- 20,178	- 344,043	2,230,607

Note: Components may not sum to totals because of rounding.

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	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 and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements.
7.	Refer to table 4 and the note on consolidation accompanying table 6.
8.	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.
9.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation.
10.	Revalued daily at current foreign currency exchange rates.
11.	Estimated.
12.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 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.
14.	Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items

Millions of dollars

Memorandum item	Averages of daily figures			Wednesday Aug 31, 2016
	Week ended Aug 31, 2016	Change from week ended
	Week ended Aug 31, 2016	Aug 24, 2016	Sep 2, 2015
Securities held in custody for foreign official and international accounts	3,188,552	- 18,143	- 158,075	3,185,897
Marketable U.S. Treasury securities¹	2,866,110	- 16,193	- 150,781	2,862,957
Federal agency debt and mortgage-backed securities²	262,565	- 2,310	- 22,474	262,953
Other securities³	59,878	+ 360	+ 15,181	59,986
Securities lent to dealers	22,446	- 660	+ 11,642	23,698
Overnight facility⁴	22,446	- 660	+ 11,642	23,698
U.S. Treasury securities	22,430	- 665	+ 11,673	23,681
Federal agency debt securities	15	+ 4	- 32	17

Note: Components may not sum to totals because of rounding.

1.	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.
2.	Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3.	Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4.	Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, August 31, 2016

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans	136	71	0	0	0	...	207
U.S. Treasury securities¹
Holdings	0	26,929	161,282	1,209,239	431,098	635,097	2,463,645
Weekly changes	- 6,976	0	+ 3,200	+ 1,896	+ 1,930	+ 57	+ 107
Federal agency debt securities²
Holdings	2,000	1,999	11,736	4,410	0	2,347	22,492
Weekly changes	+ 2,000	- 2,000	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	1,185	10,787	1,732,010	1,743,982
Weekly changes	0	0	0	- 37	- 208	- 14,793	- 15,038
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	1,351	0	0	0	0	0	1,351

Reverse repurchase agreements⁴	422,530	0	...	...	...	...	422,530
Term deposits	0	0	0	...	...	...	0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1.	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.
2.	Face value.
3.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
4.	Cash value of agreements.
5.	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.

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Aug 31, 2016
Mortgage-backed securities held outright¹	1,743,982

Commitments to buy mortgage-backed securities²	36,009
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	9

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. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
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 Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Aug 31, 2016
Net portfolio holdings of Maiden Lane LLC¹	1,707

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.³	0

1.	Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of June 30, 2016. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2.	Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.
3.	Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Aug 31, 2016	Change since
			Wednesday	Wednesday
			Aug 24, 2016	Sep 2, 2015
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,931	- 4	+ 38
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,393,034	- 15,707	- 18,641
Securities held outright¹		4,230,119	- 14,931	- 3,599
U.S. Treasury securities		2,463,645	+ 107	+ 1,704
Bills²		0	0	0
Notes and bonds, nominal²		2,341,647	- 957	- 4,993
Notes and bonds, inflation-indexed²		104,553	+ 957	+ 6,019
Inflation compensation³		17,445	+ 107	+ 678
Federal agency debt securities²		22,492	0	- 12,601
Mortgage-backed securities⁴		1,743,982	- 15,038	+ 7,298
Unamortized premiums on securities held outright⁵		178,323	- 784	- 16,622
Unamortized discounts on securities held outright⁵		-15,615	+ 28	+ 1,620
Repurchase agreements⁶		0	0	0
Loans		207	- 21	- 40
Net portfolio holdings of Maiden Lane LLC⁷		1,707	0	+ 4
Items in process of collection	(0)	218	+ 12	- 91
Bank premises		2,212	- 1	- 21
Central bank liquidity swaps⁸		1,351	+ 1,329	+ 1,214
Foreign currency denominated assets⁹		21,228	- 367	+ 1,083
Other assets¹⁰		19,990	- 1,194	- 1,564

Total assets	(0)	4,457,907	- 15,933	- 17,979

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Aug 31, 2016	Change since
			Wednesday	Wednesday
			Aug 24, 2016	Sep 2, 2015
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,422,618	+ 3,549	+ 85,316
Reverse repurchase agreements¹¹		422,530	+ 86,670	+ 190,629
Deposits	(0)	2,565,460	- 106,497	- 275,870
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,230,607	- 110,615	- 464,210
U.S. Treasury, General Account		288,946	+ 44,065	+ 166,683
Foreign official		5,167	+ 3	- 77
Other¹²	(0)	40,740	- 39,951	+ 21,733
Deferred availability cash items	(0)	1,366	+ 760	+ 1,044
Other liabilities and accrued dividends¹³		5,787	- 416	- 952

Total liabilities	(0)	4,417,762	- 15,934	+ 167

Capital accounts
Capital paid in		30,145	+ 1	+ 1,000
Surplus		10,000	0	- 19,145
Other capital accounts		0	0	0

Total capital		40,145	+ 1	- 18,146

Note: Components may not sum to totals because of rounding.

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	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 and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7.	Refer to table 4 and the note on consolidation accompanying table 6.
8.	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.
9.	Revalued daily at current foreign currency exchange rates.
10.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 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.
13.	Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, August 31, 2016

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificate account	11,037	355	3,588	359	586	760	1,541	753	360	193	296	875	1,371
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,931	48	77	156	136	302	190	279	32	55	136	196	324
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,393,034	107,911	2,499,813	119,275	131,558	268,462	245,869	175,053	55,500	32,479	61,156	156,370	539,588
Securities held outright¹	4,230,119	103,914	2,407,222	114,857	126,685	258,518	236,756	168,549	53,388	31,187	58,872	150,570	519,602
U.S. Treasury securities	2,463,645	60,520	1,401,979	66,893	73,782	150,563	137,888	98,164	31,093	18,163	34,288	87,693	302,619
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,645	60,520	1,401,979	66,893	73,782	150,563	137,888	98,164	31,093	18,163	34,288	87,693	302,619
Federal agency debt securities²	22,492	553	12,799	611	674	1,375	1,259	896	284	166	313	801	2,763
Mortgage-backed securities⁴	1,743,982	42,841	992,443	47,353	52,229	106,581	97,609	69,489	22,010	12,858	24,272	62,077	214,220
Unamortized premiums on securities held outright⁵	178,323	4,381	101,478	4,842	5,340	10,898	9,981	7,105	2,251	1,315	2,482	6,347	21,904
Unamortized discounts on securities held outright⁵	-15,615	-384	-8,886	-424	-468	-954	-874	-622	-197	-115	-217	-556	-1,918
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	207	0	0	0	0	0	7	21	59	93	19	8	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,707	0	1,707	0	0	0	0	0	0	0	0	0	0
Items in process of collection	218	0	0	0	0	0	217	0	0	1	0	0	0
Bank premises	2,212	118	434	72	105	206	208	202	115	90	240	225	197
Central bank liquidity swaps⁸	1,351	60	446	74	103	301	75	36	14	6	13	17	206
Foreign currency denominated
assets⁹	21,228	937	7,014	1,167	1,616	4,731	1,178	569	218	91	212	269	3,227
Other assets¹⁰	19,990	521	10,866	543	601	1,387	1,128	810	463	169	325	714	2,462
Interdistrict settlement account	0	- 22,774	- 25,596	- 10,404	- 1,549	+ 1,692	+ 11,480	+ 2,624	+ 1,264	+ 2,012	- 292	+ 14,049	+ 27,493

Total assets	4,457,907	87,373	2,500,166	111,453	133,393	278,253	262,540	180,750	58,116	35,186	62,239	172,997	575,441

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, August 31, 2016 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,613,018	50,519	526,926	50,353	81,481	113,988	222,030	105,903	50,096	27,797	41,343	133,718	208,864
Less: Notes held by F.R. Banks	190,399	6,366	56,521	6,604	9,638	14,158	28,995	12,364	5,476	3,094	5,326	15,853	26,002
Federal Reserve notes, net	1,422,618	44,153	470,405	43,748	71,843	99,830	193,035	93,539	44,620	24,702	36,016	117,865	182,862
Reverse repurchase agreements¹¹	422,530	10,380	240,448	11,473	12,654	25,822	23,649	16,836	5,333	3,115	5,881	15,040	51,901
Deposits	2,565,460	30,925	1,773,315	53,859	45,636	143,282	43,003	68,588	7,580	5,939	19,814	39,328	334,192
Term deposits held by depository institutions	0	0	0	0	0	0	0	0	0	0	0	0	0
Other deposits held by depository institutions	2,230,607	30,922	1,446,078	53,857	45,633	143,054	42,994	61,237	7,572	5,938	19,812	39,327	334,183
U.S. Treasury, General Account	288,946	0	288,946	0	0	0	0	0	0	0	0	0	0
Foreign official	5,167	2	5,140	2	3	9	2	1	0	0	0	1	6
Other¹²	40,740	2	33,150	0	0	219	7	7,349	8	0	1	1	3
Deferred availability cash items	1,366	0	0	0	0	0	249	0	0	1,117	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,187	22	744	21	23	32	78	49	15	8	15	50	130
Other liabilities and accrued dividends	4,600	144	2,098	182	188	476	308	246	137	133	120	205	361

Total liabilities	4,417,762	85,624	2,487,011	109,282	130,344	269,442	260,321	179,257	57,685	35,015	61,846	172,489	569,446

Capital
Capital paid in	30,145	1,306	9,857	1,620	2,287	6,580	1,664	1,225	329	128	293	381	4,474
Surplus	10,000	442	3,299	550	762	2,230	555	268	103	43	100	127	1,521
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,457,907	87,373	2,500,166	111,453	133,393	278,253	262,540	180,750	58,116	35,186	62,239	172,997	575,441

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, August 31, 2016 (continued)

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	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 and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7.	Refer to table 4 and the note on consolidation below.
8.	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.
9.	Revalued daily at current foreign currency exchange rates.
10.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. 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.
13.	Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $10 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Aug 31, 2016
Federal Reserve notes outstanding	1,613,018
Less: Notes held by F.R. Banks not subject to collateralization	190,399
Federal Reserve notes to be collateralized	1,422,618
Collateral held against Federal Reserve notes	1,422,618
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,406,381
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,230,119
Less: Face value of securities under reverse repurchase agreements	391,467
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,838,652

Note: Components may not sum to totals because of rounding.

1.	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.
2.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

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