Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: May 17, 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                                                     May 17, 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  May 16, 2018 
Federal Reserve Banks                                     May 16, 2018  May 9, 2018 May 17, 2017              

Reserve Bank credit                                         4,314,388   -    3,149   -  124,737    4,297,980  
  Securities held outright (1)                              4,143,592   -    1,274   -  110,998    4,136,872  
    U.S. Treasury securities                                2,393,105   -    2,398   -   71,553    2,386,966  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,259,606   -    2,466   -   79,962    2,253,442  
      Notes and bonds, inflation-indexed (2)                  112,949            0   +    6,146      112,949  
      Inflation compensation (3)                               20,550   +       68   +    2,264       20,575  
    Federal agency debt securities (2)                          4,391            0   -    5,729        4,391  
    Mortgage-backed securities (4)                          1,746,096   +    1,124   -   33,717    1,745,514  
  Unamortized premiums on securities held outright (5)        152,388   -      228   -   15,602      152,249  
  Unamortized discounts on securities held outright (5)       -13,910   +        7   +      935      -13,953  
  Repurchase agreements (6)                                        18   +        9   +        9           65  
  Loans                                                            86   +        8   +       20           73  
    Primary credit                                                 23   +        5   +        1            9  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                63   +        3   +       20           64  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,715            0   +        6        1,712  
  Float                                                          -192   -       23   +      166         -189  
  Central bank liquidity swaps (8)                                 80            0   +       44           80  
  Other Federal Reserve assets (9)                             30,610   -    1,649   +      681       21,070  
Foreign currency denominated assets (10)                       21,505   -       42   +    1,263       21,323  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,650   +       14   +      768       49,650  
                                                                                                              
Total factors supplying reserve funds                       4,401,784   -    3,177   -  122,706    4,385,194  

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  May 16, 2018 
Federal Reserve Banks                                     May 16, 2018  May 9, 2018 May 17, 2017              

Currency in circulation (11)                                 1,650,743   +    3,965   +  103,295    1,653,732 
Reverse repurchase agreements (12)                             248,899   -    4,604   -  148,138      256,904 
  Foreign official and international accounts                  245,616   -    3,333   +   10,634      254,359 
  Others                                                         3,283   -    1,271   -  158,772        2,545 
Treasury cash holdings                                             271   -        9   +       23          262 
Deposits with F.R. Banks, other than reserve balances          420,241   -   12,661   +  129,122      407,149 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               337,258   -   16,483   +  151,178      327,748 
  Foreign official                                               5,255            0   +       89        5,255 
  Other (13)                                                    77,728   +    3,822   -   22,145       74,145 
Other liabilities and capital (14)                              45,360   -      387   -    2,950       44,486 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,365,514   -   13,697   +   81,351    2,362,533 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,036,270   +   10,520   -  204,057    2,022,661 

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  May 16, 2018 
                                                          May 16, 2018  May 9, 2018 May 17, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,387,225   -    9,382   +  153,027    3,382,042 
  Marketable U.S. Treasury securities (1)                    3,035,153   -    9,039   +  113,241    3,030,605 
  Federal agency debt and mortgage-backed securities (2)       275,520   -       80   +   24,734      275,174 
  Other securities (3)                                          76,553   -      262   +   15,053       76,263 
Securities lent to dealers                                      20,622   +    1,749   -    3,980       19,222 
  Overnight facility (4)                                        20,622   +    1,749   -    3,980       19,222 
    U.S. Treasury securities                                    20,622   +    1,749   -    3,954       19,222 
    Federal agency debt securities                                   0            0   -       26            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, May 16, 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                                           39            35             0             0             0           ...            73 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  28,479        61,882       329,356     1,052,008       290,054       625,189     2,386,966 
  Weekly changes                        +    2,251    -   28,478    +   38,477    -   16,420    -   14,548    +   10,158    -    8,562 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0         1,982            62             0             0         2,347         4,391 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0            77        39,811     1,705,626     1,745,514 
  Weekly changes                                 0             0             0    -        2    -      128    +      672    +      542 
Repurchase agreements (4)                       65             0           ...           ...           ...           ...            65 
Central bank liquidity swaps (5)                80             0             0             0             0             0            80 
                                                                                                                                       
Reverse repurchase agreements (4)          256,904             0           ...           ...           ...           ...       256,904 
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   
                                                                                                                      May 16, 2018  

Mortgage-backed securities held outright (1)                                                                             1,745,514  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            9,272  
Commitments to sell mortgage-backed securities (2)                                                                             173  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   39  



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   
                                                                                                                      May 16, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,712  
                                                                                                                                    
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       May 16, 2018   Wednesday    Wednesday  
                                                        consolidation                 May 9, 2018 May 17, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,803   -       12   -       32  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,275,306   -    8,346   -  129,300  
    Securities held outright (1)                                          4,136,872   -    8,019   -  114,708  
      U.S. Treasury securities                                            2,386,966   -    8,562   -   77,672  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,253,442   -    8,630   -   86,098  
        Notes and bonds, inflation-indexed (2)                              112,949            0   +    6,146  
        Inflation compensation (3)                                           20,575   +       68   +    2,280  
      Federal agency debt securities (2)                                      4,391            0   -    4,443  
      Mortgage-backed securities (4)                                      1,745,514   +      542   -   32,595  
    Unamortized premiums on securities held outright  
    (5)                                                                     152,249   -      295   -   15,589  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,953   -       46   +      926  
    Repurchase agreements (6)                                                    65   +        1   +       65  
    Loans                                                                        73   +       13   +        6  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,712   -        3   +        3  
  Items in process of collection                                   (0)           78   +        1   +       19  
  Bank premises                                                               2,195   +        1   -        3  
  Central bank liquidity swaps (8)                                               80            0   +       44  
  Foreign currency denominated assets (9)                                    21,323   -      111   +      785  
  Other assets (10)                                                          18,875   -   12,127   -    1,015  
                                                                                                               
Total assets                                                       (0)    4,337,609   -   20,598   -  129,499  

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       May 16, 2018   Wednesday    Wednesday  
                                                        consolidation                 May 9, 2018 May 17, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,606,143   +    4,533   +  104,451 
  Reverse repurchase agreements (11)                                         256,904   +    9,424   -  150,677 
  Deposits                                                          (0)    2,429,810   -   33,697   -   79,857 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,022,661   -   24,115   -  225,013 
    U.S. Treasury, General Account                                           327,748   -   10,629   +  154,857 
    Foreign official                                                           5,255   +        1   +       91 
    Other (12)                                                      (0)       74,145   +    1,045   -    9,792 
  Deferred availability cash items                                  (0)          266   +       12   -      211 
  Other liabilities and accrued dividends (13)                                 5,174   -      906   -    1,739 
                                                                                                               
Total liabilities                                                   (0)    4,298,297   -   20,633   -  128,033 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,812   +       35   +    1,034 
  Surplus                                                                      7,500            0   -    2,500 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,312   +       35   -    1,466 

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, May 16, 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         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                                             1,803          51          54          176         111         262         182         295          26          49         107         186         304
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,275,306      81,652   2,360,260      107,941     121,204     252,992     256,637     228,991      56,945      35,685      67,303     176,780     528,915
    Securities held outright (1)               4,136,872      79,010   2,283,874      104,447     117,282     244,804     248,323     221,562      55,075      34,522      65,124     171,059     511,789
      U.S. Treasury securities                 2,386,966      45,589   1,317,791       60,266      67,671     141,251     143,282     127,841      31,778      19,919      37,577      98,701     295,301
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,386,966      45,589   1,317,791       60,266      67,671     141,251     143,282     127,841      31,778      19,919      37,577      98,701     295,301
      Federal agency debt securities (2)           4,391          84       2,424          111         124         260         264         235          58          37          69         182         543
      Mortgage-backed securities (4)           1,745,514      33,337     963,659       44,071      49,486     103,293     104,778      93,486      23,239      14,566      27,479      72,177     215,945
    Unamortized premiums on securities held 
      outright (5)                               152,249       2,908      84,053        3,844       4,316       9,010       9,139       8,154       2,027       1,271       2,397       6,295      18,835
    Unamortized discounts on securities     
      held outright (5)                          -13,953        -266      -7,703         -352        -396        -826        -838        -747        -186        -116        -220        -577      -1,726
    Repurchase agreements (6)                         65           1          36            2           2           4           4           3           1           1           1           3           8
    Loans                                             73           0           0            0           0           0           9          19          28           9           0           0           9
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,712           0       1,712            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      78           0           0            0           0           0          77           0           0           0           0           0           0
  Bank premises                                    2,195         111         444           74         120         197         203         200         108          95         234         220         190
  Central bank liquidity swaps (8)                    80           3          25            5           6          17           5           3           1           0           1           1          12
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,323         907       6,723        1,211       1,721       4,606       1,232         904         308          98         211         264       3,138
  Other assets (10)                               18,875         396       9,923          476         550       1,339       1,134         987         351         201         373         840       2,307
  Interdistrict settlement account                     0  +       28  +   57,604   -    1,670  -    2,259  +   11,257  +   12,212  -   22,744  -    1,115  -    1,519  -    4,384  -    3,666  -   43,744
                                                                                                                                                                                                         
Total assets                                   4,337,609      83,710   2,442,189      108,772     122,234     271,855     273,827     209,799      57,107      34,898      64,305     175,812     493,101

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, May 16, 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            1,782,683      59,509     606,022      54,155      88,059     126,006     247,863     113,962      52,170      30,492      47,260     138,737     218,447
    Less: Notes held by F.R. Banks               176,541       6,299      42,965       7,190       9,998      14,359      26,468      12,611       5,546       3,352       5,794      17,000      24,960
      Federal Reserve notes, net               1,606,143      53,210     563,058      46,965      78,061     111,648     221,395     101,350      46,624      27,141      41,466     121,738     193,487
  Reverse repurchase agreements (11)             256,904       4,907     141,831       6,486       7,283      15,203      15,421      13,759       3,420       2,144       4,044      10,623      31,783
  Deposits                                     2,429,810      23,743   1,722,953      52,813      33,500     135,956      34,264      92,691       6,330       5,098      18,238      42,693     261,532
    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                           2,022,661      23,713   1,365,683      52,811      33,438     135,722      34,226      43,269       6,307       5,098      18,229      42,642     261,524
    U.S. Treasury, General Account               327,748           0     327,748           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,255           2       5,228           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    74,145          29      24,294           0          58         226          36      49,420          22           0           8          50           2
  Deferred availability cash items                   266           0           0           0           0           0          81           0           0         186           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,185          24         618          24          36          42         101          71          21          13          21          67         147
  Other liabilities and accrued             
     dividends                                     3,989         163       1,410         190         197         501         301         273         130         138         136         204         347
                                                                                                                                                                                                        
Total liabilities                              4,298,297      82,048   2,429,870     106,478     119,076     263,350     271,562     208,144      56,525      34,719      63,906     175,323     487,295
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,812       1,343       9,955       1,868       2,553       6,885       1,832       1,338         473         145         324         396       4,702
  Surplus                                          7,500         319       2,364         426         605       1,620         433         318         108          34          74          93       1,104
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,337,609      83,710   2,442,189     108,772     122,234     271,855     273,827     209,799      57,107      34,898      64,305     175,812     493,101

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, May 16, 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 $7.5 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   
                                                                                          May 16, 2018  

Federal Reserve notes outstanding                                                            1,782,683  
  Less: Notes held by F.R. Banks not subject to collateralization                              176,541  
    Federal Reserve notes to be collateralized                                               1,606,143  
Collateral held against Federal Reserve notes                                                1,606,143  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,589,906  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,136,937  
  Less: Face value of securities under reverse repurchase agreements                           254,492  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,882,445  

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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