FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, January 19, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	January 19, 2017

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 Jan 18, 2017
	Week ended Jan 18, 2017	Change from week ended
	Week ended Jan 18, 2017	Jan 11, 2017	Jan 20, 2016
Reserve Bank credit	4,413,275	- 368	- 42,939	4,421,934
Securities held outright¹	4,221,087	- 48	- 27,100	4,230,625
U.S. Treasury securities	2,463,517	- 47	+ 2,105	2,463,504
Bills²	0	0	0	0
Notes and bonds, nominal²	2,339,990	+ 887	- 6,649	2,342,206
Notes and bonds, inflation-indexed²	105,956	- 741	+ 7,422	104,106
Inflation compensation³	17,571	- 193	+ 1,331	17,192
Federal agency debt securities²	16,180	0	- 16,299	16,180
Mortgage-backed securities⁴	1,741,390	- 2	- 12,905	1,750,940
Unamortized premiums on securities held outright⁵	172,269	- 339	- 16,575	172,216
Unamortized discounts on securities held outright⁵	-15,050	+ 14	+ 1,438	-15,102
Repurchase agreements⁶	0	0	0	0
Loans	12	+ 7	- 73	48
Primary credit	11	+ 8	- 59	46
Secondary credit	0	0	0	0
Seasonal credit	1	- 1	- 13	2
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,705	- 1	- 12	1,705
Float	-465	- 97	- 336	-654
Central bank liquidity swaps⁸	615	- 2,116	+ 490	615
Other Federal Reserve assets⁹	33,102	+ 2,213	- 771	32,481
Foreign currency denominated assets¹⁰	19,800	+ 232	- 133	19,907
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,576	+ 14	+ 983	48,576

Total factors supplying reserve funds	4,497,892	- 122	- 42,088	4,506,657

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 Jan 18, 2017
	Week ended Jan 18, 2017	Change from week ended
	Week ended Jan 18, 2017	Jan 11, 2017	Jan 20, 2016
Currency in circulation¹¹	1,503,205	- 2,226	+ 88,385	1,503,245
Reverse repurchase agreements¹²	356,772	- 98,080	+ 48,146	382,877
Foreign official and international accounts	253,781	- 2,135	+ 36,213	252,759
Others	102,991	- 95,945	+ 11,933	130,118
Treasury cash holdings	184	+ 7	- 96	202
Deposits with F.R. Banks, other than reserve balances	440,568	+ 18,351	+ 126,379	452,810
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	366,090	- 6,402	+ 80,772	396,916
Foreign official	5,166	- 39	- 122	5,165
Other¹³	69,312	+ 24,792	+ 45,728	50,728
Other liabilities and capital¹⁴	48,970	+ 1,810	+ 1,674	48,705

Total factors, other than reserve balances, absorbing reserve funds	2,349,698	- 80,138	+ 264,487	2,387,839

Reserve balances with Federal Reserve Banks	2,148,195	+ 80,017	- 306,574	2,118,818

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 Jan 18, 2017
	Week ended Jan 18, 2017	Change from week ended
	Week ended Jan 18, 2017	Jan 11, 2017	Jan 20, 2016
Securities held in custody for foreign official and international accounts	3,169,834	- 11,917	- 96,170	3,169,030
Marketable U.S. Treasury securities¹	2,850,339	- 11,338	- 101,369	2,851,859
Federal agency debt and mortgage-backed securities²	260,156	- 564	- 6,848	257,572
Other securities³	59,339	- 15	+ 12,047	59,599
Securities lent to dealers	19,106	+ 2,027	+ 6,760	17,888
Overnight facility⁴	19,106	+ 2,027	+ 6,760	17,888
U.S. Treasury securities	19,057	+ 2,026	+ 6,785	17,839
Federal agency debt securities	49	+ 1	- 25	49

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, January 18, 2017

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	48	0	0	0	0	...	48
U.S. Treasury securities¹
Holdings	7,356	34,350	153,341	1,233,270	405,075	630,113	2,463,504
Weekly changes	+ 4,253	- 6,899	+ 2,576	+ 955	+ 2,087	- 3,014	- 44
Federal agency debt securities²
Holdings	0	4,351	7,438	2,044	0	2,347	16,180
Weekly changes	0	+ 1,500	- 1,500	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	83	10,857	1,740,000	1,750,940
Weekly changes	0	0	0	- 1	- 38	+ 9,582	+ 9,542
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	615	0	0	0	0	0	615

Reverse repurchase agreements⁴	382,877	0	...	...	...	...	382,877
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	Jan 18, 2017
Mortgage-backed securities held outright¹	1,750,940

Commitments to buy mortgage-backed securities²	40,514
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	1

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	Jan 18, 2017
Net portfolio holdings of Maiden Lane LLC¹	1,705

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 Jan 18, 2017	Change since
			Wednesday	Wednesday
			Jan 11, 2017	Jan 20, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,911	+ 21	- 39
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,387,787	+ 9,191	- 27,289
Securities held outright¹		4,230,625	+ 9,500	- 12,364
U.S. Treasury securities		2,463,504	- 44	+ 2,108
Bills²		0	0	0
Notes and bonds, nominal²		2,342,206	+ 3,103	- 4,433
Notes and bonds, inflation-indexed²		104,106	- 2,591	+ 5,572
Inflation compensation³		17,192	- 556	+ 969
Federal agency debt securities²		16,180	0	- 15,138
Mortgage-backed securities⁴		1,750,940	+ 9,542	+ 665
Unamortized premiums on securities held outright⁵		172,216	- 304	- 16,329
Unamortized discounts on securities held outright⁵		-15,102	- 48	+ 1,375
Repurchase agreements⁶		0	0	0
Loans		48	+ 43	+ 28
Net portfolio holdings of Maiden Lane LLC⁷		1,705	+ 1	- 12
Items in process of collection	(0)	115	+ 17	- 112
Bank premises		2,204	+ 1	- 33
Central bank liquidity swaps⁸		615	- 2,011	+ 490
Foreign currency denominated assets⁹		19,907	+ 402	- 42
Other assets¹⁰		30,277	+ 626	- 1,045

Total assets	(0)	4,460,758	+ 8,249	- 28,082

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 Jan 18, 2017	Change since
			Wednesday	Wednesday
			Jan 11, 2017	Jan 20, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,456,778	- 823	+ 87,727
Reverse repurchase agreements¹¹		382,877	- 32,048	+ 59,903
Deposits	(0)	2,571,628	+ 39,557	- 178,823
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,118,818	+ 7,891	- 293,260
U.S. Treasury, General Account		396,916	+ 27,906	+ 78,167
Foreign official		5,165	- 1	- 66
Other¹²	(0)	50,728	+ 3,760	+ 36,335
Deferred availability cash items	(0)	769	+ 83	+ 346
Other liabilities and accrued dividends¹³		8,260	+ 1,480	+ 1,822

Total liabilities	(0)	4,420,312	+ 8,249	- 29,024

Capital accounts
Capital paid in		30,446	- 1	+ 942
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		40,446	- 1	+ 942

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, January 18, 2017

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	1,911	53	74	161	135	310	193	285	31	53	114	193	308
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,387,787	107,786	2,496,918	119,137	131,405	268,151	245,584	174,869	55,377	32,350	61,067	156,180	538,963
Securities held outright¹	4,230,625	103,926	2,407,509	114,871	126,700	258,549	236,785	168,569	53,394	31,191	58,879	150,588	519,664
U.S. Treasury securities	2,463,504	60,517	1,401,899	66,890	73,778	150,554	137,880	98,158	31,091	18,162	34,286	87,688	302,602
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,504	60,517	1,401,899	66,890	73,778	150,554	137,880	98,158	31,091	18,162	34,286	87,688	302,602
Federal agency debt securities²	16,180	397	9,208	439	485	989	906	645	204	119	225	576	1,987
Mortgage-backed securities⁴	1,750,940	43,012	996,402	47,542	52,438	107,006	97,999	69,766	22,098	12,909	24,369	62,324	215,075
Unamortized premiums on securities held outright⁵	172,216	4,231	98,002	4,676	5,158	10,525	9,639	6,862	2,174	1,270	2,397	6,130	21,154
Unamortized discounts on securities held outright⁵	-15,102	-371	-8,594	-410	-452	-923	-845	-602	-191	-111	-210	-538	-1,855
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	48	0	0	0	0	0	6	40	0	1	1	0	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,705	0	1,705	0	0	0	0	0	0	0	0	0	0
Items in process of collection	115	0	0	0	0	0	115	0	0	0	0	0	0
Bank premises	2,204	118	437	72	107	203	206	201	113	89	239	223	196
Central bank liquidity swaps⁸	615	27	203	34	47	137	34	16	6	3	6	8	94
Foreign currency denominated
assets⁹	19,907	880	6,570	1,095	1,516	4,439	1,105	533	204	85	199	252	3,028
Other assets¹⁰	30,277	786	16,758	827	914	2,025	1,708	1,211	464	243	479	1,138	3,724
Interdistrict settlement account	0	- 17,989	+ 42,125	- 9,113	- 14,467	- 29,315	+ 9,162	+ 8,537	+ 1,489	+ 1,717	+ 2,323	+ 16,620	- 11,088

Total assets	4,460,758	92,211	2,570,194	112,782	120,481	247,122	260,302	186,830	58,195	34,823	64,875	175,772	537,170

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, January 18, 2017 (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	1,641,314	53,600	534,552	51,715	80,781	118,319	224,699	108,727	49,268	28,199	45,435	136,275	209,744
Less: Notes held by F.R. Banks	184,536	6,024	47,444	6,655	9,481	14,636	26,900	12,491	5,558	3,244	6,025	17,504	28,572
Federal Reserve notes, net	1,456,778	47,575	487,108	45,061	71,300	103,683	197,798	96,236	43,710	24,955	39,410	118,771	181,172
Reverse repurchase agreements¹¹	382,877	9,405	217,883	10,396	11,467	23,399	21,429	15,256	4,832	2,823	5,329	13,628	47,030
Deposits	2,571,628	33,236	1,847,753	54,869	34,182	110,525	38,026	73,430	9,049	6,197	19,584	42,547	302,232
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	2,118,818	33,229	1,411,005	54,866	34,178	110,402	38,017	57,546	9,027	6,196	19,583	42,545	302,224
U.S. Treasury, General Account	396,916	0	396,916	0	0	0	0	0	0	0	0	0	0
Foreign official	5,165	2	5,138	2	3	9	2	1	0	0	0	1	6
Other¹²	50,728	5	34,694	0	0	114	7	15,883	22	0	1	1	2
Deferred availability cash items	769	0	0	0	0	0	239	0	0	530	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,962	58	1,020	64	80	182	121	64	26	12	25	63	248
Other liabilities and accrued dividends	6,298	175	3,384	206	212	519	360	302	143	136	132	246	483

Total liabilities	4,420,312	90,449	2,557,148	110,595	117,240	238,307	257,973	185,288	57,760	34,652	64,479	175,256	531,165

Capital
Capital paid in	30,446	1,320	9,748	1,637	2,479	6,585	1,774	1,274	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	4,460,758	92,211	2,570,194	112,782	120,481	247,122	260,302	186,830	58,195	34,823	64,875	175,772	537,170

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, January 18, 2017 (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	Jan 18, 2017
Federal Reserve notes outstanding	1,641,314
Less: Notes held by F.R. Banks not subject to collateralization	184,536
Federal Reserve notes to be collateralized	1,456,778
Collateral held against Federal Reserve notes	1,456,778
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,440,541
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,230,625
Less: Face value of securities under reverse repurchase agreements	369,555
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,861,069

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