FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, September 13, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	September 13, 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 Sep 12, 2018
	Week ended Sep 12, 2018	Change from week ended
	Week ended Sep 12, 2018	Sep 5, 2018	Sep 13, 2017
Reserve Bank credit	4,170,556	+ 1,247	- 246,783	4,171,398
Securities held outright¹	4,012,620	- 1,624	- 229,280	4,012,629
U.S. Treasury securities	2,313,203	- 1,626	- 152,273	2,313,204
Bills²	100	0	+ 100	100
Notes and bonds, nominal²	2,175,602	- 1,772	- 161,724	2,175,602
Notes and bonds, inflation-indexed²	115,579	+ 141	+ 6,167	115,579
Inflation compensation³	21,922	+ 5	+ 3,184	21,923
Federal agency debt securities²	2,409	0	- 4,348	2,409
Mortgage-backed securities⁴	1,697,008	+ 2	- 72,659	1,697,016
Unamortized premiums on securities held outright⁵	146,120	- 291	- 17,057	146,053
Unamortized discounts on securities held outright⁵	-13,758	+ 32	+ 770	-13,747
Repurchase agreements⁶	0	0	0	0
Loans	271	+ 32	+ 55	317
Primary credit	42	+ 32	+ 40	65
Secondary credit	0	0	0	0
Seasonal credit	229	0	+ 15	252
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,719	0	+ 11	1,720
Float	-163	+ 377	+ 86	-220
Central bank liquidity swaps⁸	91	+ 1	+ 4	91
Other Federal Reserve assets⁹	23,656	+ 2,720	- 1,373	24,555
Foreign currency denominated assets¹⁰	21,027	- 30	- 658	21,054
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,757	+ 14	+ 636	49,757

Total factors supplying reserve funds	4,257,581	+ 1,231	- 246,805	4,258,450

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 Sep 12, 2018
	Week ended Sep 12, 2018	Change from week ended
	Week ended Sep 12, 2018	Sep 5, 2018	Sep 13, 2017
Currency in circulation¹¹	1,686,977	+ 1,315	+ 107,505	1,686,970
Reverse repurchase agreements¹²	230,392	- 6,287	- 129,622	229,546
Foreign official and international accounts	229,901	- 6,328	- 10,571	228,231
Others	490	+ 40	- 119,052	1,315
Treasury cash holdings	208	- 3	+ 37	208
Deposits with F.R. Banks, other than reserve balances	373,827	- 21,094	+ 216,941	372,664
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	303,654	- 20,110	+ 233,422	297,697
Foreign official	5,256	0	+ 91	5,256
Other¹³	64,917	- 984	- 16,571	69,711
Other liabilities and capital¹⁴	45,201	+ 1,335	- 3,710	45,055

Total factors, other than reserve balances, absorbing reserve funds	2,336,605	- 24,735	+ 191,151	2,334,442

Reserve balances with Federal Reserve Banks	1,920,976	+ 25,966	- 437,957	1,924,008

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 Sep 12, 2018
	Week ended Sep 12, 2018	Change from week ended
	Week ended Sep 12, 2018	Sep 5, 2018	Sep 13, 2017
Securities held in custody for foreign official and international accounts	3,421,806	- 7,042	+ 49,439	3,424,884
Marketable U.S. Treasury securities¹	3,053,960	- 6,314	+ 7,429	3,057,258
Federal agency debt and mortgage-backed securities²	298,530	- 28	+ 34,506	298,548
Other securities³	69,315	- 701	+ 7,503	69,078
Securities lent to dealers	17,371	+ 83	- 7,769	18,775
Overnight facility⁴	17,371	+ 83	- 7,769	18,775
U.S. Treasury securities	17,371	+ 83	- 7,769	18,775
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, September 12, 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	140	178	0	0	0	...	317
U.S. Treasury securities¹
Holdings	0	102,160	315,819	1,010,629	267,465	617,131	2,313,204
Weekly changes	0	0	0	+ 1	+ 1	+ 1	+ 2
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	154	44,511	1,652,352	1,697,016
Weekly changes	0	0	0	+ 1	0	+ 10	+ 10
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	91	0	0	0	0	0	91

Reverse repurchase agreements⁴	229,546	0	...	...	...	...	229,546
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	Sep 12, 2018
Mortgage-backed securities held outright¹	1,697,016

Commitments to buy mortgage-backed securities²	8,593
Commitments to sell mortgage-backed securities²	15

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	Sep 12, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,720

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 Sep 12, 2018	Change since
			Wednesday	Wednesday
			Sep 5, 2018	Sep 13, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,759	+ 4	- 70
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,145,252	- 117	- 258,586
Securities held outright¹		4,012,629	+ 12	- 241,942
U.S. Treasury securities		2,313,204	+ 2	- 152,264
Bills²		100	0	+ 100
Notes and bonds, nominal²		2,175,602	0	- 161,724
Notes and bonds, inflation-indexed²		115,579	0	+ 6,167
Inflation compensation³		21,923	+ 2	+ 3,193
Federal agency debt securities²		2,409	0	- 4,348
Mortgage-backed securities⁴		1,697,016	+ 10	- 85,330
Unamortized premiums on securities held outright⁵		146,053	- 215	- 17,509
Unamortized discounts on securities held outright⁵		-13,747	+ 29	+ 768
Repurchase agreements⁶		0	0	0
Loans		317	+ 56	+ 97
Net portfolio holdings of Maiden Lane LLC⁷		1,720	+ 1	+ 12
Items in process of collection	(0)	143	- 45	+ 61
Bank premises		2,180	+ 1	- 17
Central bank liquidity swaps⁸		91	+ 1	+ 4
Foreign currency denominated assets⁹		21,054	+ 20	- 377
Other assets¹⁰		22,376	+ 2,452	- 1,389

Total assets	(0)	4,210,812	+ 2,316	- 260,362

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 Sep 12, 2018	Change since
			Wednesday	Wednesday
			Sep 5, 2018	Sep 13, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,639,176	- 1,669	+ 105,592
Reverse repurchase agreements¹¹		229,546	- 106	- 137,173
Deposits	(0)	2,296,673	+ 3,393	- 224,844
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,924,009	+ 26,108	- 436,181
U.S. Treasury, General Account		297,697	- 26,740	+ 224,477
Foreign official		5,256	0	+ 91
Other¹²	(0)	69,711	+ 4,025	- 13,231
Deferred availability cash items	(0)	362	- 327	- 60
Other liabilities and accrued dividends¹³		6,068	+ 1,020	- 1,755

Total liabilities	(0)	4,171,825	+ 2,311	- 258,241

Capital accounts
Capital paid in		32,161	+ 4	+ 1,052
Surplus		6,825	0	- 3,175
Other capital accounts		0	0	0

Total capital		38,986	+ 4	- 2,123

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, September 12, 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	1,759	43	41	161	117	242	190	290	33	44	107	203	290
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,145,252	79,166	2,288,325	104,651	117,510	245,281	248,826	222,061	55,308	34,677	65,261	171,393	512,792
Securities held outright¹	4,012,629	76,637	2,215,282	101,310	113,759	237,452	240,865	214,908	53,421	33,485	63,168	165,921	496,419
U.S. Treasury securities	2,313,204	44,180	1,277,068	58,404	65,580	136,886	138,854	123,890	30,796	19,304	36,415	95,650	286,176
Bills²	100	2	55	3	3	6	6	5	1	1	2	4	12
Notes and bonds³	2,313,104	44,178	1,277,013	58,401	65,577	136,881	138,848	123,885	30,795	19,303	36,414	95,646	286,164
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,697,016	32,411	936,885	42,846	48,111	100,423	101,866	90,889	22,593	14,162	26,715	70,171	209,945
Unamortized premiums on securities held outright⁵	146,053	2,789	80,633	3,688	4,141	8,643	8,767	7,822	1,944	1,219	2,299	6,039	18,069
Unamortized discounts on securities held outright⁵	-13,747	-263	-7,590	-347	-390	-814	-825	-736	-183	-115	-216	-568	-1,701
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	317	2	0	0	0	0	19	68	126	88	10	1	5
Net portfolio holdings of Maiden
Lane LLC⁷	1,720	0	1,720	0	0	0	0	0	0	0	0	0	0
Items in process of collection	143	0	0	0	0	0	142	0	0	0	0	0	0
Bank premises	2,180	109	443	76	117	195	204	196	106	95	233	218	188
Central bank liquidity swaps⁸	91	4	29	5	7	20	5	4	1	0	1	1	13
Foreign currency denominated
assets⁹	21,054	896	6,638	1,196	1,699	4,548	1,217	892	304	97	209	261	3,099
Other assets¹⁰	22,376	455	11,842	557	641	1,522	1,334	1,169	507	252	414	951	2,732
Interdistrict settlement account	0	- 560	- 4,936	- 7,994	+ 3,595	+ 26,255	+ 33,111	- 7,019	+ 2,438	+ 19	- 7,435	+ 4,995	- 42,468

Total assets	4,210,812	80,673	2,309,546	99,211	124,468	279,249	287,172	218,757	59,181	35,473	59,249	179,210	478,624

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, September 12, 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	1,819,169	58,525	608,722	54,861	87,726	125,725	263,076	119,732	55,211	30,493	47,555	149,832	217,712
Less: Notes held by F.R. Banks	179,993	6,316	46,244	7,052	9,084	13,594	25,619	12,583	5,496	3,069	5,455	17,357	28,125
Federal Reserve notes, net	1,639,176	52,208	562,477	47,810	78,642	112,131	237,458	107,149	49,715	27,424	42,099	132,475	189,587
Reverse repurchase agreements¹¹	229,546	4,384	126,727	5,796	6,508	13,584	13,779	12,294	3,056	1,916	3,614	9,492	28,398
Deposits	2,296,673	22,246	1,605,378	43,115	35,961	144,555	33,162	97,301	5,659	5,565	12,982	36,471	254,277
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	1,924,009	22,213	1,280,471	43,112	35,838	143,886	33,127	50,809	5,650	5,510	12,970	36,153	254,269
U.S. Treasury, General Account	297,697	0	297,697	0	0	0	0	0	0	0	0	0	0
Foreign official	5,256	2	5,228	2	3	9	2	2	1	0	0	0	6
Other¹²	69,711	31	21,982	1	120	661	33	46,490	9	55	11	317	2
Deferred availability cash items	362	0	0	0	0	0	129	0	0	233	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,282	27	684	32	40	60	97	66	21	11	30	64	150
Other liabilities and accrued dividends	4,787	174	1,907	203	210	557	316	313	142	149	149	224	443

Total liabilities	4,171,825	79,039	2,297,173	96,955	121,361	270,887	284,941	217,124	58,593	35,297	58,873	178,726	472,855

Capital
Capital paid in	32,161	1,343	10,221	1,868	2,556	6,887	1,837	1,344	489	146	308	399	4,764
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	4,210,812	80,673	2,309,546	99,211	124,468	279,249	287,172	218,757	59,181	35,473	59,249	179,210	478,624

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, September 12, 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	Sep 12, 2018
Federal Reserve notes outstanding	1,819,169
Less: Notes held by F.R. Banks not subject to collateralization	179,993
Federal Reserve notes to be collateralized	1,639,176
Collateral held against Federal Reserve notes	1,639,176
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,622,939
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,012,629
Less: Face value of securities under reverse repurchase agreements	230,783
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,781,846

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