FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, December 15, 2016

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	December 15, 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 Dec 14, 2016
	Week ended Dec 14, 2016	Change from week ended
	Week ended Dec 14, 2016	Dec 7, 2016	Dec 16, 2015
Reserve Bank credit	4,417,371	+ 7,913	- 37,109	4,432,481
Securities held outright¹	4,228,318	+ 5,322	- 21,882	4,242,440
U.S. Treasury securities	2,463,518	- 308	+ 1,936	2,463,531
Bills²	0	0	0	0
Notes and bonds, nominal²	2,339,103	- 343	- 7,536	2,339,103
Notes and bonds, inflation-indexed²	106,697	0	+ 8,163	106,697
Inflation compensation³	17,718	+ 35	+ 1,309	17,731
Federal agency debt securities²	18,493	0	- 14,451	18,493
Mortgage-backed securities⁴	1,746,307	+ 5,630	- 9,367	1,760,415
Unamortized premiums on securities held outright⁵	174,354	- 212	- 16,279	174,478
Unamortized discounts on securities held outright⁵	-15,176	+ 33	+ 1,479	-15,165
Repurchase agreements⁶	0	- 8	0	0
Loans	30	- 7	- 41	50
Primary credit	6	- 8	0	26
Secondary credit	0	0	0	0
Seasonal credit	24	+ 2	- 41	24
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,707	0	- 8	1,708
Float	-361	+ 35	- 318	-552
Central bank liquidity swaps⁸	1,476	+ 147	+ 1,338	1,476
Other Federal Reserve assets⁹	27,023	+ 2,604	- 1,398	28,047
Foreign currency denominated assets¹⁰	19,690	- 202	- 12	19,759
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,489	+ 14	+ 936	48,489

Total factors supplying reserve funds	4,501,791	+ 7,726	- 36,185	4,516,969

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 Dec 14, 2016
	Week ended Dec 14, 2016	Change from week ended
	Week ended Dec 14, 2016	Dec 7, 2016	Dec 16, 2015
Currency in circulation¹¹	1,497,464	+ 2,906	+ 84,828	1,498,565
Reverse repurchase agreements¹²	435,371	+ 19,689	+ 140,269	428,881
Foreign official and international accounts	243,791	- 93	+ 39,897	259,318
Others	191,580	+ 19,782	+ 100,372	169,563
Treasury cash holdings	160	- 2	- 86	158
Deposits with F.R. Banks, other than reserve balances	382,687	- 9,983	+ 156,134	419,049
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	324,525	- 18,830	+ 128,182	325,271
Foreign official	5,213	+ 46	- 108	5,179
Other¹³	52,949	+ 8,801	+ 28,060	88,599
Other liabilities and capital¹⁴	47,813	+ 799	- 20,064	46,761

Total factors, other than reserve balances, absorbing reserve funds	2,363,495	+ 13,409	+ 361,081	2,393,415

Reserve balances with Federal Reserve Banks	2,138,296	- 5,683	- 397,266	2,123,554

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 Dec 14, 2016
	Week ended Dec 14, 2016	Change from week ended
	Week ended Dec 14, 2016	Dec 7, 2016	Dec 16, 2015
Securities held in custody for foreign official and international accounts	3,152,785	+ 13,847	- 157,460	3,158,656
Marketable U.S. Treasury securities¹	2,827,428	+ 13,995	- 164,056	2,833,313
Federal agency debt and mortgage-backed securities²	265,446	- 82	- 6,967	265,563
Other securities³	59,911	- 65	+ 13,563	59,780
Securities lent to dealers	24,043	- 2,030	+ 9,965	20,426
Overnight facility⁴	24,043	- 2,030	+ 9,965	20,426
U.S. Treasury securities	24,019	- 2,028	+ 10,078	20,402
Federal agency debt securities	25	- 2	- 112	24

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, December 14, 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	28	22	0	0	0	...	50
U.S. Treasury securities¹
Holdings	0	42,495	146,821	1,241,837	399,261	633,117	2,463,531
Weekly changes	0	+ 1	+ 1	+ 5	+ 6	+ 21	+ 35
Federal agency debt securities²
Holdings	2,313	2,851	8,938	2,044	0	2,347	18,493
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	76	10,862	1,749,478	1,760,415
Weekly changes	0	0	0	0	0	+ 19,738	+ 19,738
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	1,476	0	0	0	0	0	1,476

Reverse repurchase agreements⁴	428,881	0	...	...	...	...	428,881
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	Dec 14, 2016
Mortgage-backed securities held outright¹	1,760,415

Commitments to buy mortgage-backed securities²	34,467
Commitments to sell mortgage-backed securities²	20

Cash and cash equivalents³	3

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	Dec 14, 2016
Net portfolio holdings of Maiden Lane LLC¹	1,708

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 September 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 Dec 14, 2016	Change since
			Wednesday	Wednesday
			Dec 7, 2016	Dec 16, 2015
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,870	+ 21	- 30
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,401,802	+ 19,744	- 19,727
Securities held outright¹		4,242,440	+ 19,774	- 5,238
U.S. Treasury securities		2,463,531	+ 35	+ 1,953
Bills²		0	0	0
Notes and bonds, nominal²		2,339,103	0	- 7,536
Notes and bonds, inflation-indexed²		106,697	0	+ 8,163
Inflation compensation³		17,731	+ 35	+ 1,326
Federal agency debt securities²		18,493	0	- 14,451
Mortgage-backed securities⁴		1,760,415	+ 19,738	+ 7,258
Unamortized premiums on securities held outright⁵		174,478	+ 28	- 15,940
Unamortized discounts on securities held outright⁵		-15,165	+ 32	+ 1,476
Repurchase agreements⁶		0	- 59	0
Loans		50	- 29	- 24
Net portfolio holdings of Maiden Lane LLC⁷		1,708	+ 1	- 8
Items in process of collection	(0)	74	- 3	- 225
Bank premises		2,200	+ 1	- 32
Central bank liquidity swaps⁸		1,476	+ 147	+ 1,338
Foreign currency denominated assets⁹		19,759	- 223	+ 142
Other assets¹⁰		25,848	+ 2,667	- 77

Total assets	(0)	4,470,973	+ 22,355	- 18,620

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 Dec 14, 2016	Change since
			Wednesday	Wednesday
			Dec 7, 2016	Dec 16, 2015
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,452,100	+ 1,193	+ 83,115
Reverse repurchase agreements¹¹		428,881	+ 5,333	+ 122,163
Deposits	(0)	2,542,605	+ 16,046	- 204,886
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,123,555	- 10,047	- 336,498
U.S. Treasury, General Account		325,271	- 18,761	+ 59,084
Foreign official		5,179	+ 12	- 52
Other¹²	(0)	88,599	+ 44,841	+ 72,579
Deferred availability cash items	(0)	626	+ 162	+ 293
Other liabilities and accrued dividends¹³		6,343	- 398	- 1,003

Total liabilities	(0)	4,430,555	+ 22,336	- 319

Capital accounts
Capital paid in		30,418	+ 19	+ 1,059
Surplus		10,000	0	- 19,359
Other capital accounts		0	0	0

Total capital		40,418	+ 19	- 18,301

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, December 14, 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	1,870	45	68	161	135	307	183	278	29	51	113	189	309
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,401,802	108,133	2,504,900	119,517	131,825	269,007	246,362	175,394	55,556	32,460	61,268	156,679	540,700
Securities held outright¹	4,242,440	104,217	2,414,233	115,192	127,054	259,271	237,446	169,040	53,543	31,278	59,044	151,009	521,115
U.S. Treasury securities	2,463,531	60,517	1,401,915	66,890	73,779	150,556	137,882	98,159	31,092	18,163	34,286	87,689	302,605
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,531	60,517	1,401,915	66,890	73,779	150,556	137,882	98,159	31,092	18,163	34,286	87,689	302,605
Federal agency debt securities²	18,493	454	10,524	502	554	1,130	1,035	737	233	136	257	658	2,272
Mortgage-backed securities⁴	1,760,415	43,245	1,001,794	47,799	52,721	107,586	98,529	70,144	22,218	12,979	24,500	62,662	216,239
Unamortized premiums on securities held outright⁵	174,478	4,286	99,289	4,737	5,225	10,663	9,765	6,952	2,202	1,286	2,428	6,210	21,432
Unamortized discounts on securities held outright⁵	-15,165	-373	-8,630	-412	-454	-927	-849	-604	-191	-112	-211	-540	-1,863
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	50	3	8	0	0	0	0	7	2	8	7	0	16
Net portfolio holdings of Maiden
Lane LLC⁷	1,708	0	1,708	0	0	0	0	0	0	0	0	0	0
Items in process of collection	74	0	0	0	0	0	73	0	0	0	0	0	0
Bank premises	2,200	118	432	72	105	204	206	200	114	90	239	223	196
Central bank liquidity swaps⁸	1,476	65	487	81	112	329	82	40	15	6	15	19	225
Foreign currency denominated
assets⁹	19,759	873	6,521	1,087	1,505	4,406	1,097	530	203	84	197	250	3,006
Other assets¹⁰	25,848	665	14,133	701	770	1,804	1,465	1,033	526	210	405	977	3,159
Interdistrict settlement account	0	- 15,192	- 60,325	- 12,802	+ 787	- 4,377	+ 15,976	+ 13,085	+ 3,369	+ 3,870	+ 1,961	+ 21,268	+ 32,380

Total assets	4,470,973	95,258	2,473,329	109,387	136,062	272,853	267,640	191,736	60,322	37,055	64,647	180,763	581,920

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, December 14, 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	1,640,395	52,252	535,811	52,038	80,351	117,099	225,061	109,213	49,634	28,275	44,488	136,169	210,004
Less: Notes held by F.R. Banks	188,295	5,847	54,022	6,685	9,266	13,939	27,264	11,750	5,523	3,214	6,014	16,894	27,876
Federal Reserve notes, net	1,452,100	46,405	481,789	45,352	71,084	103,161	197,797	97,463	44,111	25,061	38,474	119,276	182,128
Reverse repurchase agreements¹¹	428,881	10,536	244,062	11,645	12,844	26,210	24,004	17,089	5,413	3,162	5,969	15,266	52,681
Deposits	2,542,605	36,365	1,731,363	49,970	48,653	134,082	43,008	75,339	10,201	7,975	19,655	45,434	340,560
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	2,123,555	36,360	1,327,533	49,968	48,650	133,890	42,999	60,368	10,179	7,975	19,654	45,433	340,546
U.S. Treasury, General Account	325,271	0	325,271	0	0	0	0	0	0	0	0	0	0
Foreign official	5,179	2	5,152	2	3	9	2	1	0	0	0	1	6
Other¹²	88,599	3	73,406	0	0	182	7	14,970	22	0	1	0	8
Deferred availability cash items	626	0	0	0	0	0	92	0	0	534	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,715	35	1,070	39	37	57	95	76	19	11	20	63	195
Other liabilities and accrued dividends	4,628	156	1,999	193	203	538	314	249	143	141	133	208	351

Total liabilities	4,430,555	93,496	2,460,283	107,200	132,821	264,048	265,309	190,215	59,886	36,883	64,251	180,247	575,915

Capital
Capital paid in	30,418	1,320	9,748	1,637	2,480	6,575	1,776	1,253	333	129	296	389	4,483
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	4,470,973	95,258	2,473,329	109,387	136,062	272,853	267,640	191,736	60,322	37,055	64,647	180,763	581,920

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, December 14, 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	Dec 14, 2016
Federal Reserve notes outstanding	1,640,395
Less: Notes held by F.R. Banks not subject to collateralization	188,295
Federal Reserve notes to be collateralized	1,452,100
Collateral held against Federal Reserve notes	1,452,100
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,435,863
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,242,440
Less: Face value of securities under reverse repurchase agreements	416,371
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,826,069

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.

Statistical releases