FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, January 25, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	January 25, 2018

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 24, 2018
	Week ended Jan 24, 2018	Change from week ended
	Week ended Jan 24, 2018	Jan 17, 2018	Jan 25, 2017
Reserve Bank credit	4,400,216	- 3,906	- 18,944	4,400,787
Securities held outright¹	4,222,055	- 4,145	- 5,601	4,222,454
U.S. Treasury securities	2,447,009	- 857	- 16,469	2,447,009
Bills²	0	0	0	0
Notes and bonds, nominal²	2,320,301	+ 1,355	- 21,905	2,320,301
Notes and bonds, inflation-indexed²	107,503	- 1,879	+ 3,397	107,503
Inflation compensation³	19,205	- 333	+ 2,040	19,205
Federal agency debt securities²	4,391	0	- 11,789	4,391
Mortgage-backed securities⁴	1,770,655	- 3,287	+ 22,657	1,771,054
Unamortized premiums on securities held outright⁵	158,055	- 400	- 13,750	157,925
Unamortized discounts on securities held outright⁵	-14,093	+ 9	+ 990	-14,082
Repurchase agreements⁶	0	0	0	0
Loans	65	+ 17	+ 54	54
Primary credit	61	+ 15	+ 53	48
Secondary credit	0	0	0	0
Seasonal credit	4	+ 1	+ 1	6
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,715	0	+ 10	1,714
Float	-170	+ 79	+ 202	-218
Central bank liquidity swaps⁸	72	- 46	- 414	72
Other Federal Reserve assets⁹	32,517	+ 580	- 434	32,868
Foreign currency denominated assets¹⁰	21,832	+ 177	+ 1,975	22,071
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,424	+ 14	+ 830	49,424

Total factors supplying reserve funds	4,487,713	- 3,715	- 16,140	4,488,523

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 24, 2018
	Week ended Jan 24, 2018	Change from week ended
	Week ended Jan 24, 2018	Jan 17, 2018	Jan 25, 2017
Currency in circulation¹¹	1,607,691	- 2,955	+ 107,350	1,606,672
Reverse repurchase agreements¹²	266,823	+ 5,988	- 122,560	274,703
Foreign official and international accounts	240,215	+ 2,595	- 12,045	238,332
Others	26,609	+ 3,394	- 110,514	36,371
Treasury cash holdings	249	+ 21	+ 45	258
Deposits with F.R. Banks, other than reserve balances	354,115	+ 33,323	- 95,812	377,424
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	269,118	+ 41,453	- 121,724	275,963
Foreign official	5,253	0	+ 74	5,254
Other¹³	79,744	- 8,129	+ 25,838	96,208
Other liabilities and capital¹⁴	47,891	- 1,136	+ 390	47,246

Total factors, other than reserve balances, absorbing reserve funds	2,276,769	+ 35,241	- 110,587	2,306,303

Reserve balances with Federal Reserve Banks	2,210,944	- 38,955	+ 94,447	2,182,220

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 Jan 24, 2018
	Week ended Jan 24, 2018	Change from week ended
	Week ended Jan 24, 2018	Jan 17, 2018	Jan 25, 2017
Securities held in custody for foreign official and international accounts	3,351,878	- 3,660	+ 181,257	3,353,807
Marketable U.S. Treasury securities¹	3,011,536	- 3,503	+ 156,704	3,013,396
Federal agency debt and mortgage-backed securities²	261,337	- 482	+ 5,836	261,126
Other securities³	79,005	+ 324	+ 18,717	79,285
Securities lent to dealers	22,056	+ 1,657	+ 5,757	22,462
Overnight facility⁴	22,056	+ 1,657	+ 5,757	22,462
U.S. Treasury securities	22,056	+ 1,657	+ 5,804	22,462
Federal agency debt securities	0	0	- 47	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 24, 2018

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	54	0	0	0	0	...	54
U.S. Treasury securities¹
Holdings	27,847	80,038	317,233	1,083,901	316,716	621,273	2,447,009
Weekly changes	0	0	0	0	0	0	0
Federal agency debt securities²
Holdings	0	0	1,982	62	0	2,347	4,391
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	179	26,902	1,743,973	1,771,054
Weekly changes	0	0	0	0	+ 1	+ 705	+ 705
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	72	0	0	0	0	0	72

Reverse repurchase agreements⁴	274,703	0	...	...	...	...	274,703
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 24, 2018
Mortgage-backed securities held outright¹	1,771,054

Commitments to buy mortgage-backed securities²	16,639
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	59

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 24, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,714

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. 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 from consolidation	Wednesday Jan 24, 2018	Change since
			Wednesday	Wednesday
			Jan 17, 2018	Jan 25, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,923	+ 7	- 15
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,366,351	+ 365	- 14,323
Securities held outright¹		4,222,454	+ 705	- 1,782
U.S. Treasury securities		2,447,009	0	- 16,453
Bills²		0	0	0
Notes and bonds, nominal²		2,320,301	0	- 21,905
Notes and bonds, inflation-indexed²		107,503	0	+ 3,397
Inflation compensation³		19,205	0	+ 2,056
Federal agency debt securities²		4,391	0	- 11,789
Mortgage-backed securities⁴		1,771,054	+ 705	+ 26,460
Unamortized premiums on securities held outright⁵		157,925	- 327	- 13,580
Unamortized discounts on securities held outright⁵		-14,082	+ 31	+ 989
Repurchase agreements⁶		0	0	0
Loans		54	- 44	+ 50
Net portfolio holdings of Maiden Lane LLC⁷		1,714	- 1	+ 7
Items in process of collection	(0)	81	- 21	0
Bank premises		2,207	0	+ 2
Central bank liquidity swaps⁸		72	- 46	- 393
Foreign currency denominated assets⁹		22,071	+ 304	+ 2,113
Other assets¹⁰		30,661	+ 1,563	+ 1,088

Total assets	(0)	4,441,317	+ 2,172	- 11,521

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 24, 2018	Change since
			Wednesday	Wednesday
			Jan 17, 2018	Jan 25, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,559,425	- 3,582	+ 106,545
Reverse repurchase agreements¹¹		274,703	+ 13,944	- 86,861
Deposits	(0)	2,559,645	- 7,353	- 32,091
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,182,220	- 52,232	+ 45,208
U.S. Treasury, General Account		275,963	+ 19,243	- 125,772
Foreign official		5,254	+ 1	+ 89
Other¹²	(0)	96,208	+ 25,634	+ 48,384
Deferred availability cash items	(0)	299	+ 52	- 297
Other liabilities and accrued dividends¹³		5,836	- 892	+ 225

Total liabilities	(0)	4,399,907	+ 2,167	- 12,480

Capital accounts
Capital paid in		31,410	+ 5	+ 960
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		41,410	+ 5	+ 960

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 24, 2018

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	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	1,923	54	48	191	146	271	199	306	36	50	112	202	306
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,366,351	85,073	2,458,627	112,736	126,619	255,824	257,016	183,691	58,224	34,043	61,924	174,796	557,779
Securities held outright¹	4,222,454	82,269	2,377,630	109,022	122,447	247,396	248,549	177,591	56,305	32,920	59,884	169,037	539,403
U.S. Treasury securities	2,447,009	47,677	1,377,891	63,181	70,961	143,372	144,040	102,918	32,630	19,078	34,704	97,961	312,596
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,447,009	47,677	1,377,891	63,181	70,961	143,372	144,040	102,918	32,630	19,078	34,704	97,961	312,596
Federal agency debt securities²	4,391	86	2,473	113	127	257	258	185	59	34	62	176	561
Mortgage-backed securities⁴	1,771,054	34,507	997,266	45,728	51,359	103,767	104,251	74,488	23,617	13,808	25,118	70,901	226,246
Unamortized premiums on securities held outright⁵	157,925	3,077	88,926	4,078	4,580	9,253	9,296	6,642	2,106	1,231	2,240	6,322	20,174
Unamortized discounts on securities held outright⁵	-14,082	-274	-7,929	-364	-408	-825	-829	-592	-188	-110	-200	-564	-1,799
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	54	2	0	0	0	0	0	50	0	1	0	0	1
Net portfolio holdings of Maiden
Lane LLC⁷	1,714	0	1,714	0	0	0	0	0	0	0	0	0	0
Items in process of collection	81	0	0	0	0	0	80	0	0	0	0	0	0
Bank premises	2,207	114	447	72	122	198	204	204	110	88	236	219	193
Central bank liquidity swaps⁸	72	3	23	4	6	16	4	3	1	0	1	1	11
Foreign currency denominated
assets⁹	22,071	957	7,069	1,187	1,798	4,769	1,287	924	241	93	214	282	3,250
Other assets¹⁰	30,661	643	16,759	787	900	2,003	1,820	1,282	499	254	510	1,324	3,881
Interdistrict settlement account	0	- 3,935	+ 59,932	- 7,720	- 11,765	- 14,567	+ 3,836	+ 42,012	- 2,822	+ 406	+ 4,197	- 7,193	- 62,381

Total assets	4,441,317	83,455	2,550,029	107,815	118,614	249,702	266,623	229,583	56,779	35,216	67,639	170,829	505,034

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 24, 2018 (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	1,751,767	57,260	584,531	54,035	83,446	118,911	244,339	115,607	52,456	31,019	47,803	140,533	221,827
Less: Notes held by F.R. Banks	192,342	7,029	46,364	7,265	10,753	15,861	26,649	13,180	6,039	3,748	6,286	19,022	30,147
Federal Reserve notes, net	1,559,425	50,231	538,167	46,771	72,692	103,051	217,689	102,427	46,417	27,271	41,518	121,511	191,680
Reverse repurchase agreements¹¹	274,703	5,352	154,683	7,093	7,966	16,095	16,170	11,554	3,663	2,142	3,896	10,997	35,092
Deposits	2,559,645	25,909	1,841,557	51,401	34,359	120,993	29,877	113,521	5,971	5,244	21,666	37,540	271,607
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	2,182,220	25,903	1,519,325	51,399	34,356	120,896	29,868	58,465	5,964	5,244	21,664	37,537	271,600
U.S. Treasury, General Account	275,963	0	275,963	0	0	0	0	0	0	0	0	0	0
Foreign official	5,254	2	5,226	2	3	9	2	2	0	0	0	1	6
Other¹²	96,208	4	41,043	0	0	89	7	55,055	6	0	1	2	1
Deferred availability cash items	299	0	0	0	0	0	68	0	0	231	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,500	39	764	20	69	143	131	50	6	7	3	64	203
Other liabilities and accrued dividends	4,336	163	1,805	180	186	478	303	276	124	131	146	205	338

Total liabilities	4,399,907	81,694	2,536,976	105,464	115,273	240,761	264,238	227,828	56,181	35,026	67,229	170,317	498,921

Capital
Capital paid in	31,410	1,335	9,901	1,783	2,534	6,781	1,807	1,331	455	144	311	388	4,641
Surplus	10,000	426	3,152	568	807	2,160	578	424	144	46	99	124	1,472
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,441,317	83,455	2,550,029	107,815	118,614	249,702	266,623	229,583	56,779	35,216	67,639	170,829	505,034

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 24, 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
Federal Reserve notes and collateral	Jan 24, 2018
Federal Reserve notes outstanding	1,751,767
Less: Notes held by F.R. Banks not subject to collateralization	192,342
Federal Reserve notes to be collateralized	1,559,425
Collateral held against Federal Reserve notes	1,559,425
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,543,188
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,222,454
Less: Face value of securities under reverse repurchase agreements	274,003
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,948,451

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