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Release Date: June 28, 2018
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FEDERAL RESERVE statistical release
For Release at
4:30 P.M. EDT
June 28, 2018
Publication Note
The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," has been modified to reflect the policies under which Federal
Reserve Banks make payments of their residual net earnings to the U.S. Treasury.? The "Economic Growth,
Regulatory Relief, and Consumer Protection Act" ("Act"), which was enacted on May 24, 2018, requires that aggregate
Federal Reserve Bank capital surplus not exceed $6.825 billion. Therefore, any amount of aggregate Federal
Reserve Bank capital surplus that exceeds this limit will be remitted to the U.S. Treasury.
The amounts of the line items "Other liabilities and capital" on table 1, and "Surplus" on tables 5 and 6
reflect the lump-sum payment of approximately $675 million to the Treasury on June 21, 2018, which was necessary
to reduce aggregate Reserve Bank capital surplus to the $6.825 billion limitation in the Act.
FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks June 28, 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 Jun 27, 2018
Federal Reserve Banks Jun 27, 2018 Jun 20, 2018 Jun 28, 2017
Reserve Bank credit 4,272,520 - 6,978 - 158,545 4,265,630
Securities held outright (1) 4,107,740 - 6,797 - 141,940 4,101,930
U.S. Treasury securities 2,378,203 + 125 - 86,811 2,378,250
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,242,161 0 - 96,055 2,242,161
Notes and bonds, inflation-indexed (2) 114,860 0 + 6,734 114,860
Inflation compensation (3) 21,183 + 126 + 2,512 21,229
Federal agency debt securities (2) 2,409 0 - 5,688 2,409
Mortgage-backed securities (4) 1,727,127 - 6,923 - 49,442 1,721,271
Unamortized premiums on securities held outright (5) 149,999 - 558 - 16,357 149,733
Unamortized discounts on securities held outright (5) -13,936 + 29 + 809 -13,924
Repurchase agreements (6) 0 0 0 0
Loans 166 + 31 + 33 181
Primary credit 7 - 1 - 23 7
Secondary credit 0 0 0 0
Seasonal credit 159 + 32 + 56 174
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 1,713 0 + 4 1,710
Float -222 - 62 + 62 -568
Central bank liquidity swaps (8) 90 - 5 + 55 90
Other Federal Reserve assets (9) 26,971 + 385 - 1,211 26,479
Foreign currency denominated assets (10) 21,173 + 62 + 544 21,093
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 49,685 + 14 + 713 49,685
Total factors supplying reserve funds 4,359,620 - 6,901 - 157,287 4,352,650
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 Jun 27, 2018
Federal Reserve Banks Jun 27, 2018 Jun 20, 2018 Jun 28, 2017
Currency in circulation (11) 1,662,240 + 1,319 + 106,340 1,665,308
Reverse repurchase agreements (12) 252,519 + 4,262 - 195,613 260,837
Foreign official and international accounts 245,454 - 2,142 + 6,059 240,157
Others 7,065 + 6,404 - 201,672 20,680
Treasury cash holdings 213 - 18 + 15 198
Deposits with F.R. Banks, other than reserve balances 459,299 + 20,381 + 156,902 441,059
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 373,940 + 21,163 + 165,575 362,175
Foreign official 5,256 + 1 + 91 5,256
Other (13) 80,103 - 782 - 8,764 73,629
Other liabilities and capital (14) 44,501 - 1,710 - 3,038 44,332
Total factors, other than reserve balances,
absorbing reserve funds 2,418,773 + 24,235 + 64,607 2,411,734
Reserve balances with Federal Reserve Banks 1,940,847 - 31,136 - 221,895 1,940,916
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 Jun 27, 2018
Jun 27, 2018 Jun 20, 2018 Jun 28, 2017
Securities held in custody for foreign official and
international accounts 3,399,649 - 4,039 + 91,705 3,407,585
Marketable U.S. Treasury securities (1) 3,038,415 - 3,493 + 52,934 3,045,893
Federal agency debt and mortgage-backed securities (2) 289,101 - 475 + 28,577 289,473
Other securities (3) 72,132 - 73 + 10,193 72,219
Securities lent to dealers 20,937 + 889 - 4,198 20,180
Overnight facility (4) 20,937 + 889 - 4,198 20,180
U.S. Treasury securities 20,937 + 889 - 4,197 20,180
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, June 27, 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 162 20 0 0 0 ... 181
U.S. Treasury securities (1)
Holdings 30,454 75,435 305,421 1,051,171 296,305 619,464 2,378,250
Weekly changes 0 + 1 + 2 + 19 + 44 + 60 + 126
Federal agency debt securities (2)
Holdings 0 0 62 0 0 2,347 2,409
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 0 143 39,174 1,681,954 1,721,271
Weekly changes 0 0 0 - 4 - 707 - 9,505 - 10,217
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 90 0 0 0 0 0 90
Reverse repurchase agreements (4) 260,837 0 ... ... ... ... 260,837
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
Jun 27, 2018
Mortgage-backed securities held outright (1) 1,721,271
Commitments to buy mortgage-backed securities (2) 9,760
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 22
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
Jun 27, 2018
Net portfolio holdings of Maiden Lane LLC (1) 1,710
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 Jun 27, 2018 Wednesday Wednesday
consolidation Jun 20, 2018 Jun 28, 2017
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,773 - 3 - 46
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,237,919 - 10,600 - 157,029
Securities held outright (1) 4,101,930 - 10,091 - 141,492
U.S. Treasury securities 2,378,250 + 126 - 86,796
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,242,161 0 - 96,055
Notes and bonds, inflation-indexed (2) 114,860 0 + 6,734
Inflation compensation (3) 21,229 + 126 + 2,526
Federal agency debt securities (2) 2,409 0 - 5,688
Mortgage-backed securities (4) 1,721,271 - 10,217 - 49,009
Unamortized premiums on securities held outright
(5) 149,733 - 558 - 16,335
Unamortized discounts on securities held outright
(5) -13,924 + 30 + 809
Repurchase agreements (6) 0 0 0
Loans 181 + 19 - 11
Net portfolio holdings of Maiden Lane LLC (7) 1,710 - 3 + 1
Items in process of collection (0) 189 + 98 + 96
Bank premises 2,188 - 1 - 9
Central bank liquidity swaps (8) 90 - 5 + 55
Foreign currency denominated assets (9) 21,093 - 20 + 359
Other assets (10) 24,291 + 128 - 1,285
Total assets (0) 4,305,491 - 10,405 - 157,856
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 Jun 27, 2018 Wednesday Wednesday
consolidation Jun 20, 2018 Jun 28, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,617,589 + 3,559 + 105,403
Reverse repurchase agreements (11) 260,837 + 17,112 - 244,028
Deposits (0) 2,381,975 - 30,037 - 16,161
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,940,916 - 11,227 - 177,192
U.S. Treasury, General Account 362,175 - 17,915 + 164,578
Foreign official 5,256 + 1 + 91
Other (12) (0) 73,629 - 894 - 3,637
Deferred availability cash items (0) 758 + 569 - 78
Other liabilities and accrued dividends (13) 5,431 - 932 - 1,050
Total liabilities (0) 4,266,589 - 9,730 - 155,915
Capital accounts
Capital paid in 32,076 0 + 1,233
Surplus 6,825 - 675 - 3,175
Other capital accounts 0 0 0
Total capital 38,901 - 675 - 1,942
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, June 27, 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 1,773 38 43 170 115 256 192 288 26 48 104 190 304
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,237,919 80,936 2,339,560 106,994 120,147 250,773 254,394 226,995 56,494 35,409 66,714 175,230 524,273
Securities held outright (1) 4,101,930 78,343 2,264,583 103,565 116,291 242,736 246,226 219,690 54,610 34,231 64,574 169,614 507,467
U.S. Treasury securities 2,378,250 45,422 1,312,978 60,046 67,424 140,736 142,759 127,374 31,662 19,846 37,439 98,340 294,223
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,378,250 45,422 1,312,978 60,046 67,424 140,736 142,759 127,374 31,662 19,846 37,439 98,340 294,223
Federal agency debt securities (2) 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298
Mortgage-backed securities (4) 1,721,271 32,874 950,275 43,458 48,799 101,858 103,322 92,188 22,916 14,364 27,097 71,174 212,946
Unamortized premiums on securities held
outright (5) 149,733 2,860 82,664 3,780 4,245 8,861 8,988 8,019 1,993 1,250 2,357 6,191 18,524
Unamortized discounts on securities
held outright (5) -13,924 -266 -7,687 -352 -395 -824 -836 -746 -185 -116 -219 -576 -1,723
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 181 0 0 0 6 0 16 31 76 45 2 0 5
Net portfolio holdings of Maiden
Lane LLC (7) 1,710 0 1,710 0 0 0 0 0 0 0 0 0 0
Items in process of collection 189 0 0 0 0 0 189 0 0 0 0 0 0
Bank premises 2,188 110 443 74 119 196 203 199 107 95 234 220 190
Central bank liquidity swaps (8) 90 4 28 5 7 19 5 4 1 0 1 1 13
Foreign currency denominated
assets (9) 21,093 898 6,650 1,198 1,702 4,556 1,219 894 304 97 209 261 3,104
Other assets (10) 24,291 497 12,929 611 697 1,642 1,467 1,280 385 253 445 1,101 2,984
Interdistrict settlement account 0 + 9,786 + 73,562 - 6,347 - 1,073 - 7,380 + 26,365 - 19,515 - 2,256 - 951 - 5,058 - 6,962 - 60,168
Total assets 4,305,491 92,827 2,440,370 103,264 122,496 251,247 286,178 211,308 55,545 35,240 63,108 171,226 472,679
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, June 27, 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 1,791,274 59,002 606,017 53,826 87,360 125,050 260,279 113,134 51,881 30,361 47,009 139,463 217,893
Less: Notes held by F.R. Banks 173,685 5,839 44,040 6,675 9,229 13,804 27,367 11,796 5,473 3,021 5,422 15,955 25,064
Federal Reserve notes, net 1,617,589 53,163 561,977 47,150 78,131 111,246 232,913 101,338 46,408 27,340 41,587 123,508 192,829
Reverse repurchase agreements (11) 260,837 4,982 144,002 6,586 7,395 15,435 15,657 13,970 3,473 2,177 4,106 10,786 32,269
Deposits 2,381,975 32,848 1,719,956 47,044 33,617 115,576 34,761 94,021 4,931 4,826 16,878 36,166 241,351
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 1,940,916 32,805 1,330,609 47,041 33,552 115,234 34,726 43,085 4,927 4,705 16,865 36,023 241,344
U.S. Treasury, General Account 362,175 0 362,175 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
Other (12) 73,629 42 21,944 1 62 333 33 50,934 4 120 12 143 2
Deferred availability cash items 758 0 0 0 0 0 193 0 0 565 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 1,120 21 561 27 38 59 95 64 15 13 19 65 145
Other liabilities and accrued
dividends 4,311 180 1,513 201 211 572 326 290 131 143 144 222 376
Total liabilities 4,266,589 91,194 2,428,009 101,009 119,392 242,888 283,945 209,682 54,958 35,063 62,733 170,746 466,969
Capital
Capital paid in 32,076 1,343 10,210 1,868 2,553 6,885 1,838 1,337 489 145 308 396 4,705
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 4,305,491 92,827 2,440,370 103,264 122,496 251,247 286,178 211,308 55,545 35,240 63,108 171,226 472,679
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, June 27, 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
Jun 27, 2018
Federal Reserve notes outstanding 1,791,274
Less: Notes held by F.R. Banks not subject to collateralization 173,685
Federal Reserve notes to be collateralized 1,617,589
Collateral held against Federal Reserve notes 1,617,589
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,601,352
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,101,930
Less: Face value of securities under reverse repurchase agreements 258,015
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,843,915
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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