Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: July 12, 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                                                    July 12, 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  Jul 11, 2018 
Federal Reserve Banks                                     Jul 11, 2018  Jul 4, 2018 Jul 12, 2017              

Reserve Bank credit                                         4,250,856   -    9,079   -  175,878    4,251,681  
  Securities held outright (1)                              4,084,139   -   10,152   -  159,350    4,084,188  
    U.S. Treasury securities                                2,360,457   -   10,153   -  104,655    2,360,504  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,224,161   -   10,286   -  113,448    2,224,161  
      Notes and bonds, inflation-indexed (2)                  114,860            0   +    6,126      114,860  
      Inflation compensation (3)                               21,436   +      132   +    2,667       21,483  
    Federal agency debt securities (2)                          2,409            0   -    5,688        2,409  
    Mortgage-backed securities (4)                          1,721,273   +        1   -   49,008    1,721,275  
  Unamortized premiums on securities held outright (5)        149,331   -      249   -   16,291      149,265  
  Unamortized discounts on securities held outright (5)       -13,914   +        9   +      805      -13,904  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           194   -       14   +       40          200  
    Primary credit                                                  8   -       30   -        7            6  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                               186   +       16   +       47          195  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,711            0   +        2        1,711  
  Float                                                          -235   +      222   +       38         -183  
  Central bank liquidity swaps (8)                                239   -      852   +      183           96  
  Other Federal Reserve assets (9)                             29,392   +    1,959   -    1,303       30,307  
Foreign currency denominated assets (10)                       21,210   +       61   +      556       21,148  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,713   +       14   +      711       49,713  
                                                                                                              
Total factors supplying reserve funds                       4,338,020   -    9,005   -  174,610    4,338,783  

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  Jul 11, 2018 
Federal Reserve Banks                                     Jul 11, 2018  Jul 4, 2018 Jul 12, 2017              

Currency in circulation (11)                                 1,672,233   +    3,584   +  107,264    1,672,158 
Reverse repurchase agreements (12)                             261,252   -   38,964   -  166,826      249,412 
  Foreign official and international accounts                  257,313   +    7,550   +   14,993      248,182 
  Others                                                         3,939   -   46,514   -  181,818        1,230 
Treasury cash holdings                                             195   -        2   +       16          195 
Deposits with F.R. Banks, other than reserve balances          401,829   -   12,992   +  150,777      392,251 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               326,476   -    9,550   +  155,443      316,434 
  Foreign official                                               5,257   -       20   +       92        5,256 
  Other (13)                                                    70,096   -    3,422   -    4,757       70,560 
Other liabilities and capital (14)                              44,427   -      727   -    3,156       43,900 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,379,936   -   49,102   +   88,075    2,357,915 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,958,085   +   40,098   -  262,684    1,980,868 

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  Jul 11, 2018 
                                                          Jul 11, 2018  Jul 4, 2018 Jul 12, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,405,484   +    9,659   +   82,897    3,400,253 
  Marketable U.S. Treasury securities (1)                    3,041,355   +    9,083   +   41,833    3,035,721 
  Federal agency debt and mortgage-backed securities (2)       291,292            0   +   30,519      291,292 
  Other securities (3)                                          72,837   +      576   +   10,546       73,240 
Securities lent to dealers                                      20,611   -      372   -    3,454       18,400 
  Overnight facility (4)                                        20,611   -      372   -    3,454       18,400 
    U.S. Treasury securities                                    20,611   -      372   -    3,454       18,400 
    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, July 11, 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                                           38           162             0             0             0           ...           200 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                   1,133        93,310       307,881     1,042,558       296,037       619,586     2,360,504 
  Weekly changes                        +        1             0    +        2    +       19    +       45    +       61    +      127 
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           147        41,885     1,679,242     1,721,275 
  Weekly changes                                 0             0             0             0    +    2,715    -    2,712    +        3 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                96             0             0             0             0             0            96 
                                                                                                                                       
Reverse repurchase agreements (4)          249,412             0           ...           ...           ...           ...       249,412 
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   
                                                                                                                      Jul 11, 2018  

Mortgage-backed securities held outright (1)                                                                             1,721,275  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           14,598  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    8  



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   
                                                                                                                      Jul 11, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,711  
                                                                                                                                    
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       Jul 11, 2018   Wednesday    Wednesday  
                                                        consolidation                 Jul 4, 2018 Jul 12, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,750   -        6   -       55  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,219,750   -       21   -  174,735  
    Securities held outright (1)                                          4,084,188   +      130   -  159,310  
      U.S. Treasury securities                                            2,360,504   +      127   -  104,617  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,224,161            0   -  113,448  
        Notes and bonds, inflation-indexed (2)                              114,860            0   +    6,126  
        Inflation compensation (3)                                           21,483   +      127   +    2,705  
      Federal agency debt securities (2)                                      2,409            0   -    5,688  
      Mortgage-backed securities (4)                                      1,721,275   +        3   -   49,006  
    Unamortized premiums on securities held outright  
    (5)                                                                     149,265   -      211   -   16,279  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,904   +       28   +      805  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       200   +       31   +       49  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,711            0   +        2  
  Items in process of collection                                   (0)          203   -       33   +      141  
  Bank premises                                                               2,183   +        1   -       13  
  Central bank liquidity swaps (8)                                               96   -      995   +       41  
  Foreign currency denominated assets (9)                                    21,148   +        1   +      438  
  Other assets (10)                                                          28,124   +    2,490   -    1,320  
                                                                                                               
Total assets                                                       (0)    4,291,201   +    1,437   -  175,501  

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       Jul 11, 2018   Wednesday    Wednesday  
                                                        consolidation                 Jul 4, 2018 Jul 12, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,624,385   -       32   +  106,576 
  Reverse repurchase agreements (11)                                         249,412   -   15,193   -  170,484 
  Deposits                                                          (0)    2,373,119   +   18,789   -  108,194 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,980,868   +   26,658   -  258,083 
    U.S. Treasury, General Account                                           316,434   -    9,109   +  154,278 
    Foreign official                                                           5,256   +        2   +       91 
    Other (12)                                                      (0)       70,560   +    1,237   -    4,480 
  Deferred availability cash items                                  (0)          386   -       48   -      127 
  Other liabilities and accrued dividends (13)                                 5,000   -    2,076   -    1,325 
                                                                                                               
Total liabilities                                                   (0)    4,252,301   +    1,438   -  173,554 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,075   -        1   +    1,228 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,900   -        1   -    1,947 

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, July 11, 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                                             1,750          35          41          164         114         250         187         289          27          48         104         196         295
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,219,750      80,589   2,329,519      106,536     119,626     249,697     253,303     226,010      56,254      35,284      66,430     174,478     522,026
    Securities held outright (1)               4,084,188      78,004   2,254,789      103,117     115,788     241,686     245,161     218,740      54,374      34,083      64,295     168,880     505,272
      U.S. Treasury securities                 2,360,504      45,083   1,303,181       59,598      66,921     139,686     141,693     126,423      31,426      19,698      37,160      97,606     292,028
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,360,504      45,083   1,303,181       59,598      66,921     139,686     141,693     126,423      31,426      19,698      37,160      97,606     292,028
      Federal agency debt securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           1,721,275      32,875     950,277       43,459      48,799     101,858     103,323      92,188      22,916      14,364      27,097      71,174     212,946
    Unamortized premiums on securities held 
      outright (5)                               149,265       2,851      82,406        3,769       4,232       8,833       8,960       7,994       1,987       1,246       2,350       6,172      18,466
    Unamortized discounts on securities     
      held outright (5)                          -13,904        -266      -7,676         -351        -394        -823        -835        -745        -185        -116        -219        -575      -1,720
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            200           0           0            1           0           0          17          20          77          72           4           0           8
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,711           0       1,711            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     203           1           0            0           0           0         201           0           0           0           0           0           0
  Bank premises                                    2,183         109         442           74         118         196         203         198         107          95         233         219         189
  Central bank liquidity swaps (8)                    96           4          30            5           8          21           6           4           1           0           1           1          14
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,148         900       6,668        1,201       1,707       4,568       1,222         896         305          97         210         262       3,112
  Other assets (10)                               28,124         568      15,063          706         811       1,877       1,689       1,484         455         304         512       1,197       3,458
  Interdistrict settlement account                     0  +    3,426  +   62,206   -    5,083  -      299  +    4,640  +   25,793  -   18,086  -    1,065  -    1,243  -    7,985  -    5,723  -   56,581
                                                                                                                                                                                                         
Total assets                                   4,291,201      86,191   2,421,123      104,165     122,866     262,434     284,749     211,959      56,567      34,875      59,965     171,816     474,491

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, July 11, 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            1,792,178      58,966     606,381      53,743      87,475     124,920     259,583     113,148      51,832      30,323      46,926     141,227     217,654
    Less: Notes held by F.R. Banks               167,793       5,723      42,453       6,335       8,925      13,396      26,106      11,364       5,159       2,868       5,197      15,907      24,360
      Federal Reserve notes, net               1,624,385      53,244     563,928      47,408      78,550     111,524     233,478     101,784      46,673      27,455      41,729     125,320     193,294
  Reverse repurchase agreements (11)             249,412       4,763     137,695       6,297       7,071      14,759      14,971      13,358       3,320       2,081       3,926      10,313      30,856
  Deposits                                     2,373,119      26,379   1,705,052      48,013      33,939     127,316      33,494      94,865       5,836       4,819      13,770      35,437     244,198
    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                           1,980,868      26,345   1,362,275      48,010      33,880     126,688      33,458      46,385       5,831       4,743      13,756      35,306     244,191
    U.S. Treasury, General Account               316,434           0     316,434           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,256           2       5,229           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    70,560          32      21,115           1          56         619          34      48,479           4          76          14         131           1
  Deferred availability cash items                   386           0           0           0           0           0         198           0           0         188           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   985          12         548          15          18          14          85          56          18          14          28          63         114
  Other liabilities and accrued             
     dividends                                     4,015         159       1,539         177         184         462         290         269         133         141         137         203         320
                                                                                                                                                                                                        
Total liabilities                              4,252,301      84,558   2,408,762     101,909     119,762     254,075     282,516     210,332      55,980      34,699      59,590     171,336     468,783
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,075       1,343      10,210       1,868       2,553       6,885       1,838       1,337         489         145         308         395       4,704
  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                  4,291,201      86,191   2,421,123     104,165     122,866     262,434     284,749     211,959      56,567      34,875      59,965     171,816     474,491

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, July 11, 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   
                                                                                          Jul 11, 2018  

Federal Reserve notes outstanding                                                            1,792,178  
  Less: Notes held by F.R. Banks not subject to collateralization                              167,793  
    Federal Reserve notes to be collateralized                                               1,624,385  
Collateral held against Federal Reserve notes                                                1,624,385  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,608,148  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,084,188  
  Less: Face value of securities under reverse repurchase agreements                           246,585  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,837,604  

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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