FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, December 3, 2015

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	December 3, 2015

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Dec 2, 2015
	Week ended Dec 2, 2015	Change from week ended
	Week ended Dec 2, 2015	Nov 25, 2015	Dec 3, 2014
Reserve Bank credit	4,440,098	- 11,406	- 5,900	4,440,482
Securities held outright¹	4,239,343	- 10,588	+ 9,222	4,239,334
U.S. Treasury securities	2,461,610	- 39	- 34	2,461,601
Bills²	0	0	0	0
Notes and bonds, nominal²	2,346,639	0	- 74	2,346,639
Notes and bonds, inflation-indexed²	98,534	0	+ 65	98,534
Inflation compensation³	16,437	- 39	- 26	16,428
Federal agency debt securities²	32,944	0	- 5,733	32,944
Mortgage-backed securities⁴	1,744,789	- 10,549	+ 14,989	1,744,789
Unamortized premiums on securities held outright⁵	190,985	- 692	- 16,967	190,849
Unamortized discounts on securities held outright⁵	-16,717	+ 34	+ 1,823	-16,706
Repurchase agreements⁶	84	+ 84	+ 84	590
Loans	87	- 33	- 18	72
Primary credit	4	- 25	- 4	1
Secondary credit	0	0	0	0
Seasonal credit	84	- 7	- 13	71
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,715	+ 2	+ 34	1,716
Float	236	- 20	+ 952	75
Central bank liquidity swaps⁸	136	- 9	+ 135	135
Other Federal Reserve assets⁹	24,227	- 184	- 1,167	24,417
Foreign currency denominated assets¹⁰	19,192	- 75	- 2,240	19,197
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	47,453	+ 14	+ 1,179	47,453

Total factors supplying reserve funds	4,522,984	- 11,467	- 6,961	4,523,374

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

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

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Dec 2, 2015
	Week ended Dec 2, 2015	Change from week ended
	Week ended Dec 2, 2015	Nov 25, 2015	Dec 3, 2014
Currency in circulation¹¹	1,411,288	+ 4,859	+ 93,322	1,411,953
Reverse repurchase agreements¹²	289,181	- 22,465	+ 25,069	270,349
Foreign official and international accounts	195,142	+ 2,562	+ 94,523	186,165
Others	94,038	- 25,028	- 69,455	84,184
Treasury cash holdings	239	- 4	+ 50	251
Deposits with F.R. Banks, other than reserve balances	237,134	+ 40,957	- 197,558	243,200
Term deposits held by depository institutions	0	0	- 334,714	0
U.S. Treasury, General Account	212,756	+ 49,265	+ 125,330	217,267
Foreign official	5,413	+ 549	+ 164	5,221
Other¹³	18,966	- 8,856	+ 11,663	20,712
Other liabilities and capital¹⁴	66,241	- 107	+ 2,699	65,430

Total factors, other than reserve balances, absorbing reserve funds	2,004,083	+ 23,240	- 76,418	1,991,184

Reserve balances with Federal Reserve Banks	2,518,901	- 34,707	+ 69,457	2,532,190

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities.
14.	Includes the liability for interest on Federal Reserve notes due to 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 Dec 2, 2015
	Week ended Dec 2, 2015	Change from week ended
	Week ended Dec 2, 2015	Nov 25, 2015	Dec 3, 2014
Securities held in custody for foreign official and international accounts	3,324,275	+ 1,883	+ 2,527	3,324,806
Marketable U.S. Treasury securities¹	3,006,033	+ 2,740	+ 27,120	3,006,631
Federal agency debt and mortgage-backed securities²	272,113	- 1,217	- 28,198	272,073
Other securities³	46,129	+ 360	+ 3,605	46,102
Securities lent to dealers	14,136	- 858	+ 4,570	13,769
Overnight facility⁴	14,136	- 858	+ 4,570	13,769
U.S. Treasury securities	14,046	- 869	+ 5,124	13,666
Federal agency debt securities	90	+ 11	- 554	103

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, December 2, 2015

Millions of dollars

Remaining Maturity	Within 15 days	16 days to 90 days	91 days to 1 year	Over 1 year to 5 years	Over 5 year to 10 years	Over 10 years	All
Loans	19	53	0	0	0	...	72
U.S. Treasury securities¹
Holdings	0	38,619	165,796	1,124,299	494,994	637,894	2,461,601
Weekly changes	0	+ 31,839	- 21,303	- 5,003	- 5,541	- 18	- 27
Federal agency debt securities²
Holdings	0	1,626	12,825	16,146	0	2,347	32,944
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	381	9,164	1,735,244	1,744,789
Weekly changes	0	0	0	0	0	0	0
Repurchase agreements⁴	590	0	...	...	...	...	590
Central bank liquidity swaps⁵	135	0	0	0	0	0	135

Reverse repurchase agreements⁴	270,349	0	...	...	...	...	270,349
Term deposits	0	0	0	...	...	...	0

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

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

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Dec 2, 2015
Mortgage-backed securities held outright¹	1,744,789

Commitments to buy mortgage-backed securities²	26,769
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	24

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

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Dec 2, 2015
Net portfolio holdings of Maiden Lane LLC¹	1,716

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York²	0
Accrued interest payable to the Federal Reserve Bank of New York²	0
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.³	0

1.	Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of September 30, 2015. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2.	Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.
3.	Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Dec 2, 2015	Change since
			Wednesday	Wednesday
			Nov 25, 2015	Dec 3, 2014
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,854	- 3	+ 15
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,414,140	+ 251	- 5,353
Securities held outright¹		4,239,334	- 28	+ 9,228
U.S. Treasury securities		2,461,601	- 27	- 24
Bills²		0	0	0
Notes and bonds, nominal²		2,346,639	0	- 74
Notes and bonds, inflation-indexed²		98,534	0	+ 65
Inflation compensation³		16,428	- 27	- 16
Federal agency debt securities²		32,944	0	- 5,733
Mortgage-backed securities⁴		1,744,789	0	+ 14,985
Unamortized premiums on securities held outright⁵		190,849	- 317	- 16,967
Unamortized discounts on securities held outright⁵		-16,706	+ 26	+ 1,823
Repurchase agreements⁶		590	+ 590	+ 590
Loans		72	- 22	- 27
Net portfolio holdings of Maiden Lane LLC⁷		1,716	+ 1	+ 35
Items in process of collection	(0)	373	- 175	+ 277
Bank premises		2,227	- 6	- 33
Central bank liquidity swaps⁸		135	- 10	+ 134
Foreign currency denominated assets⁹		19,197	- 17	- 2,009
Other assets¹⁰		22,190	+ 940	- 1,188

Total assets	(0)	4,478,069	+ 981	- 8,121

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

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

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Dec 2, 2015	Change since
			Wednesday	Wednesday
			Nov 25, 2015	Dec 3, 2014
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,366,602	+ 1,294	+ 92,116
Reverse repurchase agreements¹¹		270,349	- 21,443	+ 8,468
Deposits	(0)	2,775,390	+ 21,503	- 111,372
Term deposits held by depository institutions		0	0	- 334,714
Other deposits held by depository institutions		2,532,190	- 42,771	+ 52,736
U.S. Treasury, General Account		217,267	+ 63,052	+ 159,661
Foreign official		5,221	+ 1	- 28
Other¹²	(0)	20,712	+ 1,221	+ 10,973
Deferred availability cash items	(0)	299	- 134	- 434
Other liabilities and accrued dividends¹³		6,745	- 239	+ 1,003

Total liabilities	(0)	4,419,384	+ 980	- 10,220

Capital accounts
Capital paid in		29,343	+ 1	+ 1,050
Surplus		29,343	+ 1	+ 1,050
Other capital accounts		0	0	0

Total capital		58,685	+ 1	+ 2,098

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities.
13.	Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, December 2, 2015

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Assets
Gold certificate account	11,037	347	3,709	340	505	783	1,600	734	299	171	288	891	1,370
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,854	44	74	126	128	299	183	271	30	44	150	194	312
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,414,140	111,894	2,649,819	109,785	106,125	239,744	248,579	164,004	46,037	26,887	57,346	142,194	511,725
Securities held outright¹	4,239,334	107,465	2,544,923	105,439	101,924	230,253	238,726	157,510	44,210	25,782	55,071	136,563	491,468
U.S. Treasury securities	2,461,601	62,400	1,477,728	61,224	59,183	133,698	138,618	91,459	25,671	14,970	31,977	79,296	285,375
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,461,601	62,400	1,477,728	61,224	59,183	133,698	138,618	91,459	25,671	14,970	31,977	79,296	285,375
Federal agency debt securities²	32,944	835	19,777	819	792	1,789	1,855	1,224	344	200	428	1,061	3,819
Mortgage-backed securities⁴	1,744,789	44,230	1,047,418	43,396	41,949	94,766	98,253	64,827	18,196	10,611	22,666	56,205	202,274
Unamortized premiums on securities held outright⁵	190,849	4,838	114,569	4,747	4,588	10,366	10,747	7,091	1,990	1,161	2,479	6,148	22,125
Unamortized discounts on securities held outright⁵	-16,706	-423	-10,029	-415	-402	-907	-941	-621	-174	-102	-217	-538	-1,937
Repurchase agreements⁶	590	15	354	15	14	32	33	22	6	4	8	19	68
Loans	72	0	1	0	0	0	14	2	5	43	5	3	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,716	0	1,716	0	0	0	0	0	0	0	0	0	0
Items in process of collection	373	0	0	0	0	0	373	0	0	1	0	0	0
Bank premises	2,227	125	435	74	106	212	207	203	118	92	239	220	197
Central bank liquidity swaps⁸	135	6	44	8	11	31	8	4	1	1	1	2	20
Foreign currency denominated
assets⁹	19,197	867	6,244	1,068	1,490	4,386	1,088	513	178	80	201	275	2,807
Other assets¹⁰	22,190	595	12,785	556	540	1,354	1,263	840	450	162	327	736	2,582
Interdistrict settlement account	0	- 7,621	- 164,647	+ 6,374	+ 22,689	+ 31,618	+ 5,570	+ 16,535	+ 11,931	+ 6,012	+ 4,043	+ 17,804	+ 49,692

Total assets	4,478,069	106,454	2,511,996	118,541	131,831	278,839	259,524	183,528	59,193	33,540	62,748	162,598	569,278

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, December 2, 2015 (continued)

Millions of dollars

Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	Kansas	Dallas	San
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,545,940	48,975	499,620	49,733	83,404	107,381	218,001	103,814	52,018	27,007	41,052	122,396	192,540
Less: Notes held by F.R. Banks	179,338	5,558	66,622	5,981	9,055	11,941	20,078	10,388	4,740	2,770	4,512	13,610	24,084
Federal Reserve notes, net	1,366,602	43,417	432,998	43,752	74,349	95,440	197,923	93,426	47,278	24,236	36,540	108,786	168,457
Reverse repurchase agreements¹¹	270,349	6,853	162,294	6,724	6,500	14,684	15,224	10,045	2,819	1,644	3,512	8,709	31,342
Deposits	2,775,390	53,370	1,894,067	64,575	46,217	154,888	42,479	78,158	8,358	7,144	21,938	44,000	360,196
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	2,532,190	53,361	1,658,981	64,572	46,214	154,677	42,442	70,344	8,334	7,144	21,936	43,998	360,186
U.S. Treasury, General Account	217,267	0	217,267	0	0	0	0	0	0	0	0	0	0
Foreign official	5,221	2	5,194	2	3	9	2	1	0	0	0	1	6
Other¹²	20,712	7	12,625	0	0	201	35	7,813	23	0	1	1	5
Deferred availability cash items	299	0	0	0	0	0	189	0	0	110	0	0	0
Interest on Federal Reserve notes due to U.S. Treasury¹³	1,719	42	1,071	34	34	64	112	66	15	15	19	55	191
Other liabilities and accrued dividends	5,026	164	2,291	208	235	601	322	250	133	138	126	179	380

Total liabilities	4,419,384	103,846	2,492,721	115,292	127,335	265,675	256,249	181,945	58,603	33,288	62,135	161,729	560,565

Capital
Capital paid in	29,343	1,304	9,638	1,624	2,248	6,582	1,637	791	295	126	306	434	4,356
Surplus	29,343	1,304	9,638	1,624	2,248	6,582	1,637	791	295	126	306	434	4,356
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,478,069	106,454	2,511,996	118,541	131,831	278,839	259,524	183,528	59,193	33,540	62,748	162,598	569,278

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, December 2, 2015 (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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities.
13.	Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

Note on consolidation:

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

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

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Dec 2, 2015
Federal Reserve notes outstanding	1,545,940
Less: Notes held by F.R. Banks not subject to collateralization	179,338
Federal Reserve notes to be collateralized	1,366,602
Collateral held against Federal Reserve notes	1,366,602
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,350,365
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,239,924
Less: Face value of securities under reverse repurchase agreements	260,832
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,979,092

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

1.	Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.
2.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

Statistical releases