Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: January 11, 2018
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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                                                 January 11, 2018


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Jan 10, 2018 
Federal Reserve Banks                                     Jan 10, 2018  Jan 3, 2018 Jan 11, 2017              

Reserve Bank credit                                         4,405,234   -    2,400   -    8,409    4,406,127  
  Securities held outright (1)                              4,217,529   -    4,285   -    3,606    4,217,530  
    U.S. Treasury securities                                2,448,209   -    4,286   -   15,355    2,448,209  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,318,404   -    4,286   -   20,699    2,318,404  
      Notes and bonds, inflation-indexed (2)                  110,134            0   +    3,437      110,134  
      Inflation compensation (3)                               19,671            0   +    1,907       19,671  
    Federal agency debt securities (2)                          4,391            0   -   11,789        4,391  
    Mortgage-backed securities (4)                          1,764,929            0   +   23,537    1,764,930  
  Unamortized premiums on securities held outright (5)        158,478   -      271   -   14,130      158,401  
  Unamortized discounts on securities held outright (5)       -14,127   -        9   +      937      -14,116  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            34   -       83   +       29          109  
    Primary credit                                                 30   -       67   +       27          107  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 4   -       17   +        2            2  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,713            0   +        7        1,715  
  Float                                                          -216   +      518   +      152         -289  
  Central bank liquidity swaps (8)                             12,067   +        8   +    9,336       12,067  
  Other Federal Reserve assets (9)                             29,755   +    1,721   -    1,134       30,711  
Foreign currency denominated assets (10)                       21,376   -       47   +    1,808       21,421  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,396   +       14   +      841       49,396  
                                                                                                              
Total factors supplying reserve funds                       4,492,248   -    2,431   -    5,759    4,493,186  

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                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Jan 10, 2018 
Federal Reserve Banks                                     Jan 10, 2018  Jan 3, 2018 Jan 11, 2017              

Currency in circulation (11)                                 1,614,585   -    3,427   +  109,161    1,612,650 
Reverse repurchase agreements (12)                             312,786   -  177,220   -  142,066      298,290 
  Foreign official and international accounts                  249,074   +    2,703   -    6,842      240,336 
  Others                                                        63,713   -  179,922   -  135,223       57,954 
Treasury cash holdings                                             225   +        9   +       48          225 
Deposits with F.R. Banks, other than reserve balances          284,803   -    7,903   -  137,414      276,897 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               206,215   -    5,351   -  166,277      198,573 
  Foreign official                                               5,255            0   +       50        5,253 
  Other (13)                                                    73,332   -    2,552   +   28,812       73,072 
Other liabilities and capital (14)                              46,952   -      857   -      208       47,230 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,259,351   -  189,398   -  170,478    2,235,292 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,232,897   +  186,967   +  164,719    2,257,894 

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 securities, Federal agency debt
    securities, and 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, 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.                   
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  
                                                           Week ended    Change from week ended  Jan 10, 2018 
                                                          Jan 10, 2018  Jan 3, 2018 Jan 11, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,351,565   -    4,193   +  169,814    3,358,298 
  Marketable U.S. Treasury securities (1)                    3,011,206   -    3,986   +  149,529    3,017,693 
  Federal agency debt and mortgage-backed securities (2)       261,970   -      772   +    1,250      261,840 
  Other securities (3)                                          78,390   +      566   +   19,036       78,765 
Securities lent to dealers                                      22,651   -    2,541   +    5,572       20,094 
  Overnight facility (4)                                        22,651   -    2,541   +    5,572       20,094 
    U.S. Treasury securities                                    22,651   -    2,541   +    5,620       20,094 
    Federal agency debt securities                                   0            0   -       48            0 

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 10, 2018    

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                          107             2             0             0             0           ...           109 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                   3,098       107,658       315,420     1,085,113       314,035       622,884     2,448,209 
  Weekly changes                                 0             0             0             0             0             0    +        1 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0         1,982            62             0         2,347         4,391 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             1           177        27,007     1,737,745     1,764,930 
  Weekly changes                                 0             0             0             0             0    +        1    +        1 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)            12,067             0             0             0             0             0        12,067 
                                                                                                                                       
Reverse repurchase agreements (4)          298,290             0           ...           ...           ...           ...       298,290 
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   
                                                                                                                      Jan 10, 2018  

Mortgage-backed securities held outright (1)                                                                             1,764,930  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           28,034  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    5  



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   
                                                                                                                      Jan 10, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,715  
                                                                                                                                    
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                        0  
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                             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. Assets are
    revalued quarterly.                                                                                 
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     Wednesday         Change since       
                                                             from       Jan 10, 2018   Wednesday    Wednesday  
                                                        consolidation                 Jan 3, 2018 Jan 11, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,902   +        7   +       12  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,361,924   -      142   -   16,672  
    Securities held outright (1)                                          4,217,530   +        2   -    3,595  
      U.S. Treasury securities                                            2,448,209   +        1   -   15,339  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,318,404            0   -   20,699  
        Notes and bonds, inflation-indexed (2)                              110,134            0   +    3,437  
        Inflation compensation (3)                                           19,671   +        1   +    1,923  
      Federal agency debt securities (2)                                      4,391            0   -   11,789  
      Mortgage-backed securities (4)                                      1,764,930   +        1   +   23,532  
    Unamortized premiums on securities held outright  
    (5)                                                                     158,401   -      239   -   14,119  
    Unamortized discounts on securities held outright 
    (5)                                                                     -14,116   +       30   +      938  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       109   +       65   +      104  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,715   +        2   +       11  
  Items in process of collection                                   (0)           85   -       84   -       13  
  Bank premises                                                               2,204   +        1   +        1  
  Central bank liquidity swaps (8)                                           12,067            0   +    9,441  
  Foreign currency denominated assets (9)                                    21,421   -       19   +    1,916  
  Other assets (10)                                                          28,507   +    2,580   -    1,144  
                                                                                                               
Total assets                                                       (0)    4,446,062   +    2,344   -    6,447  

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     Wednesday         Change since       
                                                             from       Jan 10, 2018   Wednesday    Wednesday  
                                                        consolidation                 Jan 3, 2018 Jan 11, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,565,377   -    5,895   +  107,776 
  Reverse repurchase agreements (11)                                         298,290   -   85,700   -  116,635 
  Deposits                                                          (0)    2,534,791   +   93,528   +    2,720 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,257,894   +   63,243   +  146,967 
    U.S. Treasury, General Account                                           198,573   +   28,616   -  170,437 
    Foreign official                                                           5,253            0   +       87 
    Other (12)                                                      (0)       73,072   +    1,670   +   26,104 
  Deferred availability cash items                                  (0)          374   +       49   -      312 
  Other liabilities and accrued dividends (13)                                 5,844   +      363   -      936 
                                                                                                               
Total liabilities                                                   (0)    4,404,677   +    2,347   -    7,386 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,385   -        2   +      938 
  Surplus                                                                     10,000            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 41,385   -        2   +      938 

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 securities, Federal agency debt
    securities, and 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, 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.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



6. Statement of Condition of Each Federal Reserve Bank, January 10, 2018
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         349       3,592          348         553         776       1,520         737         341         191         292         916       1,422
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,902          47          46          188         147         270         199         302          35          53         109         201         304
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,361,924      85,004   2,456,105      112,620     126,489     255,561     256,752     183,487      58,164      34,009      61,861     174,667     557,206
    Securities held outright (1)               4,217,530      82,173   2,374,857      108,895     122,305     247,107     248,259     177,384      56,240      32,882      59,814     168,840     538,774
      U.S. Treasury securities                 2,448,209      47,700   1,378,567       63,212      70,996     143,442     144,111     102,969      32,646      19,087      34,721      98,009     312,750
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,448,209      47,700   1,378,567       63,212      70,996     143,442     144,111     102,969      32,646      19,087      34,721      98,009     312,750
      Federal agency debt securities (2)           4,391          86       2,473          113         127         257         258         185          59          34          62         176         561
      Mortgage-backed securities (4)           1,764,930      34,387     993,818       45,570      51,181     103,408     103,890      74,231      23,535      13,760      25,031      70,655     225,463
    Unamortized premiums on securities held 
      outright (5)                               158,401       3,086      89,194        4,090       4,593       9,281       9,324       6,662       2,112       1,235       2,246       6,341      20,235
    Unamortized discounts on securities     
      held outright (5)                          -14,116        -275      -7,948         -364        -409        -827        -831        -594        -188        -110        -200        -565      -1,803
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            109          20           2            0           0           0           0          34           0           2           0          50           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,715           0       1,715            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      85           0           0            0           0           0          84           0           0           1           0           0           0
  Bank premises                                    2,204         114         446           72         122         197         204         203         109          88         236         219         193
  Central bank liquidity swaps (8)                12,067         523       3,864          649         983       2,608         704         505         132          51         117         154       1,777
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,421         929       6,861        1,152       1,745       4,629       1,249         897         234          90         208         274       3,154
  Other assets (10)                               28,507         595      15,585          733         840       1,874       1,708       1,202         466         239         472       1,179       3,615
  Interdistrict settlement account                     0  +    2,966  -   22,416   -    4,964  -    5,233  +    9,725  +   11,052  +   41,746  -    1,586  +    1,653  +    6,527  -      936  -   38,533
                                                                                                                                                                                                         
Total assets                                   4,446,062      90,724   2,467,615      111,007     125,881     276,052     274,128     229,503      58,045      36,464      69,976     176,955     529,712

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 10, 2018 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,748,224      57,333     580,586      54,162      83,643     119,273     244,081     115,892      52,284      31,132      47,947     140,672     221,220
    Less: Notes held by F.R. Banks               182,847       6,287      47,239       6,595       9,693      14,396      25,148      11,737       5,593       3,434       6,064      18,202      28,459
      Federal Reserve notes, net               1,565,377      51,046     533,347      47,567      73,950     104,876     218,933     104,155      46,692      27,698      41,883     122,470     192,761
  Reverse repurchase agreements (11)             298,290       5,812     167,965       7,702       8,650      17,477      17,558      12,546       3,978       2,326       4,230      11,941      38,105
  Deposits                                     2,534,791      31,920   1,750,486      53,201      39,705     144,211      34,750     110,723       6,659       5,825      23,312      41,758     292,241
    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                           2,257,894      31,913   1,527,074      53,199      39,702     144,048      34,741      57,438       6,652       5,825      23,310      41,757     292,234
    U.S. Treasury, General Account               198,573           0     198,573           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,253           2       5,226           2           3           9           2           2           0           0           0           1           6
    Other (12)                                    73,072           5      19,613           0           0         154           7      53,284           6           0           1           1           1
  Deferred availability cash items                   374           0           0           0           0           0          89           0           0         285           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,471          29         795          37          48          76         112          56          25          13          19          72         189
  Other liabilities and accrued             
     dividends                                     4,374         148       1,920         178         180         470         296         276         132         130         124         198         323
                                                                                                                                                                                                        
Total liabilities                              4,404,677      88,955   2,454,512     108,686     122,533     267,110     271,737     227,754      57,485      36,277      69,568     176,440     523,619
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,385       1,335       9,901       1,783       2,534       6,781       1,807       1,331         451         144         311         387       4,620
  Surplus                                         10,000         434       3,202         538         815       2,161         583         419         109          42          97         128       1,473
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,446,062      90,724   2,467,615     111,007     125,881     276,052     274,128     229,503      58,045      36,464      69,976     176,955     529,712

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 10, 2018 (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 securities, Federal agency     
    debt securities, and 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, 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.                                                                                                          
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   
                                                                                          Jan 10, 2018  

Federal Reserve notes outstanding                                                            1,748,224  
  Less: Notes held by F.R. Banks not subject to collateralization                              182,847  
    Federal Reserve notes to be collateralized                                               1,565,377  
Collateral held against Federal Reserve notes                                                1,565,377  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,549,140  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,217,530  
  Less: Face value of securities under reverse repurchase agreements                           295,605  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,921,925  

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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