FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, August 9, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	August 9, 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 Aug 8, 2018
	Week ended Aug 8, 2018	Change from week ended
	Week ended Aug 8, 2018	Aug 1, 2018	Aug 9, 2017
Reserve Bank credit	4,217,655	- 14,796	- 210,790	4,218,548
Securities held outright¹	4,048,861	- 16,452	- 193,476	4,048,879
U.S. Treasury securities	2,336,907	- 16,455	- 128,305	2,336,925
Bills²	0	0	0	0
Notes and bonds, nominal²	2,200,589	- 17,028	- 136,976	2,200,589
Notes and bonds, inflation-indexed²	114,592	+ 504	+ 5,619	114,592
Inflation compensation³	21,726	+ 69	+ 3,053	21,744
Federal agency debt securities²	2,409	0	- 5,688	2,409
Mortgage-backed securities⁴	1,709,545	+ 3	- 59,484	1,709,545
Unamortized premiums on securities held outright⁵	147,851	- 246	- 16,731	147,790
Unamortized discounts on securities held outright⁵	-13,815	+ 19	+ 788	-13,804
Repurchase agreements⁶	0	0	0	0
Loans	228	- 4	+ 24	255
Primary credit	3	- 5	+ 1	3
Secondary credit	0	0	0	0
Seasonal credit	224	0	+ 22	251
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,717	+ 1	+ 7	1,719
Float	-195	+ 252	+ 82	-215
Central bank liquidity swaps⁸	100	0	+ 64	100
Other Federal Reserve assets⁹	32,908	+ 1,634	- 1,548	33,825
Foreign currency denominated assets¹⁰	21,042	- 77	- 255	21,052
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,712	+ 14	+ 652	49,712

Total factors supplying reserve funds	4,304,650	- 14,859	- 210,394	4,305,553

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

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Aug 8, 2018
	Week ended Aug 8, 2018	Change from week ended
	Week ended Aug 8, 2018	Aug 1, 2018	Aug 9, 2017
Currency in circulation¹¹	1,669,431	+ 1,632	+ 104,086	1,671,632
Reverse repurchase agreements¹²	236,817	- 3,159	- 100,893	237,390
Foreign official and international accounts	234,971	- 2,459	- 5,481	235,731
Others	1,847	- 698	- 95,410	1,659
Treasury cash holdings	215	+ 8	+ 44	219
Deposits with F.R. Banks, other than reserve balances	402,457	- 26,450	+ 170,805	386,101
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	326,471	- 25,052	+ 176,609	311,690
Foreign official	5,258	+ 1	+ 89	5,257
Other¹³	70,728	- 1,399	- 5,893	69,154
Other liabilities and capital¹⁴	44,341	- 731	- 3,531	44,108

Total factors, other than reserve balances, absorbing reserve funds	2,353,261	- 28,700	+ 170,510	2,339,450

Reserve balances with Federal Reserve Banks	1,951,389	+ 13,841	- 380,904	1,966,103

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 Aug 8, 2018
	Week ended Aug 8, 2018	Change from week ended
	Week ended Aug 8, 2018	Aug 1, 2018	Aug 9, 2017
Securities held in custody for foreign official and international accounts	3,442,216	+ 8,007	+ 106,060	3,437,538
Marketable U.S. Treasury securities¹	3,068,604	+ 6,526	+ 56,630	3,064,763
Federal agency debt and mortgage-backed securities²	300,380	+ 1,616	+ 37,965	300,335
Other securities³	73,232	- 135	+ 11,465	72,439
Securities lent to dealers	18,608	+ 829	- 4,346	17,811
Overnight facility⁴	18,608	+ 829	- 4,346	17,811
U.S. Treasury securities	18,608	+ 829	- 4,346	17,811
Federal agency debt securities	0	0	0	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, August 8, 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	40	215	0	0	0	...	255
U.S. Treasury securities¹
Holdings	23,069	63,772	305,548	1,028,055	296,639	619,841	2,336,925
Weekly changes	0	+ 23,833	- 23,832	+ 7	+ 17	+ 23	+ 49
Federal agency debt securities²
Holdings	0	0	62	0	0	2,347	2,409
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	151	43,527	1,665,866	1,709,545
Weekly changes	0	0	0	+ 5	+ 2,500	- 2,505	+ 1
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	100	0	0	0	0	0	100

Reverse repurchase agreements⁴	237,390	0	...	...	...	...	237,390
Term deposits	0	0	0	...	...	...	0

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

1.	Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
2.	Face value.
3.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
4.	Cash value of agreements.
5.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Aug 8, 2018
Mortgage-backed securities held outright¹	1,709,545

Commitments to buy mortgage-backed securities²	10,814
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	0

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
2.	Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3.	This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Aug 8, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,719

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 Aug 8, 2018	Change since
			Wednesday	Wednesday
			Aug 1, 2018	Aug 9, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,783	+ 16	- 68
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,183,120	- 107	- 209,345
Securities held outright¹		4,048,879	+ 50	- 193,468
U.S. Treasury securities		2,336,925	+ 49	- 128,296
Bills²		0	0	0
Notes and bonds, nominal²		2,200,589	0	- 136,976
Notes and bonds, inflation-indexed²		114,592	0	+ 5,619
Inflation compensation³		21,744	+ 49	+ 3,061
Federal agency debt securities²		2,409	0	- 5,688
Mortgage-backed securities⁴		1,709,545	+ 1	- 59,484
Unamortized premiums on securities held outright⁵		147,790	- 213	- 16,713
Unamortized discounts on securities held outright⁵		-13,804	+ 29	+ 789
Repurchase agreements⁶		0	0	0
Loans		255	+ 27	+ 47
Net portfolio holdings of Maiden Lane LLC⁷		1,719	+ 3	+ 9
Items in process of collection	(0)	194	- 8	+ 129
Bank premises		2,180	+ 1	- 16
Central bank liquidity swaps⁸		100	0	+ 64
Foreign currency denominated assets⁹		21,052	- 17	- 259
Other assets¹⁰		31,645	+ 2,490	- 1,567

Total assets	(0)	4,258,030	+ 2,377	- 211,053

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

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

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Aug 8, 2018	Change since
			Wednesday	Wednesday
			Aug 1, 2018	Aug 9, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,623,919	+ 1,961	+ 103,868
Reverse repurchase agreements¹¹		237,390	+ 1,631	- 105,879
Deposits	(0)	2,352,204	- 445	- 205,866
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,966,103	- 329	- 370,212
U.S. Treasury, General Account		311,690	+ 1,486	+ 172,137
Foreign official		5,257	0	+ 92
Other¹²	(0)	69,154	- 1,602	- 7,883
Deferred availability cash items	(0)	410	- 210	- 65
Other liabilities and accrued dividends¹³		5,204	- 559	- 1,138

Total liabilities	(0)	4,219,126	+ 2,378	- 209,081

Capital accounts
Capital paid in		32,079	0	+ 1,203
Surplus		6,825	0	- 3,175
Other capital accounts		0	0	0

Total capital		38,904	0	- 1,972

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, August 8, 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	364	3,626	350	544	773	1,491	739	334	199	307	905	1,405
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,783	40	40	161	118	249	204	293	34	46	108	201	290
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,183,120	79,888	2,309,267	105,609	118,586	247,526	251,100	224,039	55,805	35,003	65,851	172,962	517,485
Securities held outright¹	4,048,879	77,329	2,235,295	102,226	114,787	239,597	243,041	216,849	53,904	33,788	63,739	167,420	500,903
U.S. Treasury securities	2,336,925	44,633	1,290,164	59,002	66,253	138,290	140,278	125,161	31,112	19,502	36,789	96,631	289,111
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,336,925	44,633	1,290,164	59,002	66,253	138,290	140,278	125,161	31,112	19,502	36,789	96,631	289,111
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,709,545	32,651	943,801	43,162	48,466	101,164	102,618	91,560	22,760	14,266	26,912	70,689	211,495
Unamortized premiums on securities held outright⁵	147,790	2,823	81,592	3,731	4,190	8,746	8,871	7,915	1,968	1,233	2,327	6,111	18,284
Unamortized discounts on securities held outright⁵	-13,804	-264	-7,621	-349	-391	-817	-829	-739	-184	-115	-217	-571	-1,708
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	255	0	1	0	0	0	16	13	117	98	3	1	5
Net portfolio holdings of Maiden
Lane LLC⁷	1,719	0	1,719	0	0	0	0	0	0	0	0	0	0
Items in process of collection	194	0	0	0	0	0	194	0	0	0	0	0	0
Bank premises	2,180	109	441	75	118	196	203	197	106	95	233	219	189
Central bank liquidity swaps⁸	100	4	32	6	8	22	6	4	1	0	1	1	15
Foreign currency denominated
assets⁹	21,052	896	6,638	1,196	1,699	4,547	1,216	892	304	97	209	261	3,098
Other assets¹⁰	31,645	641	17,000	795	913	2,080	1,899	1,672	521	334	567	1,336	3,887
Interdistrict settlement account	0	- 141	+ 23,993	- 6,280	+ 394	+ 9,357	+ 27,913	- 12,559	+ 1,488	- 1,284	- 7,348	+ 4,424	- 39,958

Total assets	4,258,030	81,998	2,364,573	102,120	122,618	265,161	284,881	215,702	58,744	34,581	60,080	180,590	486,984

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

6. Statement of Condition of Each Federal Reserve Bank, August 8, 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	1,802,725	58,737	605,042	53,787	87,517	125,013	260,736	115,056	53,552	30,444	47,043	148,185	217,613
Less: Notes held by F.R. Banks	178,806	6,041	46,809	6,726	9,258	14,123	27,246	12,176	5,054	3,092	5,397	16,670	26,213
Federal Reserve notes, net	1,623,919	52,696	558,233	47,060	78,259	110,890	233,490	102,879	48,498	27,352	41,646	131,515	191,399
Reverse repurchase agreements¹¹	237,390	4,534	131,058	5,994	6,730	14,048	14,250	12,714	3,160	1,981	3,737	9,816	29,368
Deposits	2,352,204	22,958	1,660,791	46,604	34,297	131,357	34,299	98,145	6,335	4,723	14,161	38,508	260,027
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	1,966,103	22,925	1,323,804	46,601	34,231	130,854	34,264	49,910	6,330	4,683	14,133	38,350	260,019
U.S. Treasury, General Account	311,690	0	311,690	0	0	0	0	0	0	0	0	0	0
Foreign official	5,257	2	5,230	2	3	9	2	2	1	0	0	0	6
Other¹²	69,154	32	20,067	1	62	495	33	48,233	5	40	27	158	2
Deferred availability cash items	410	0	0	0	0	0	216	0	0	194	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,253	16	699	27	41	31	99	69	22	12	17	66	154
Other liabilities and accrued dividends	3,950	160	1,430	180	187	475	295	269	136	142	144	205	328

Total liabilities	4,219,126	80,364	2,352,211	99,865	119,513	256,801	282,648	214,076	58,152	34,404	59,705	180,110	481,277

Capital
Capital paid in	32,079	1,343	10,210	1,868	2,553	6,885	1,838	1,336	494	146	308	395	4,703
Surplus	6,825	290	2,151	388	551	1,474	394	289	98	31	68	84	1,005
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,258,030	81,998	2,364,573	102,120	122,618	265,161	284,881	215,702	58,744	34,581	60,080	180,590	486,984

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

6. Statement of Condition of Each Federal Reserve Bank, August 8, 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 $6.825 billion surplus.

Note on consolidation:

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

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

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Aug 8, 2018
Federal Reserve notes outstanding	1,802,725
Less: Notes held by F.R. Banks not subject to collateralization	178,806
Federal Reserve notes to be collateralized	1,623,919
Collateral held against Federal Reserve notes	1,623,919
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,607,682
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,048,879
Less: Face value of securities under reverse repurchase agreements	236,751
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,812,127

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