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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

January 28, 2016

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
Jan 27, 2016

Week ended
Jan 27, 2016

Change from week ended

Jan 20, 2016

Jan 28, 2015

Reserve Bank credit

4,451,298

-    4,916

-   17,451

4,443,941

Securities held outright1

4,243,429

-    4,758

-      538

4,236,838

U.S. Treasury securities

2,461,361

-       51

+      505

2,461,341

Bills2

         0

         0

         0

         0

Notes and bonds, nominal2

2,346,639

         0

-       73

2,346,639

Notes and bonds, inflation-indexed2

    98,534

         0

+       65

    98,534

Inflation compensation3

    16,188

-       52

+      513

    16,168

Federal agency debt securities2

    31,318

-    1,161

-    6,270

    31,318

Mortgage-backed securities4

1,750,750

-    3,545

+    5,226

1,744,179

Unamortized premiums on securities held outright5

   188,366

-      478

-   17,713

   188,025

Unamortized discounts on securities held outright5

   -16,455

+       33

+    1,818

   -16,437

Repurchase agreements6

         0

         0

         0

         0

Loans

        40

-       45

+        1

       124

Primary credit

        26

-       44

-        5

       111

Secondary credit

         0

         0

         0

         0

Seasonal credit

        14

         0

+        5

        14

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Maiden Lane LLC7

     1,718

+        1

+       37

     1,722

Float

      -157

-       28

+      210

      -271

Central bank liquidity swaps8

       102

-       23

+      100

       102

Other Federal Reserve assets9

    34,255

+      382

-    1,364

    33,838

Foreign currency denominated assets10

    19,730

-      203

-      542

    19,734

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    47,623

+       14

+    1,179

    47,623

Total factors supplying reserve funds

4,534,891

-    5,105

-   16,815

4,527,538

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
Jan 27, 2016

Week ended
Jan 27, 2016

Change from week ended

Jan 20, 2016

Jan 28, 2015

Currency in circulation11

1,413,100

-    1,735

+   84,092

1,413,576

Reverse repurchase agreements12

   294,153

-   14,473

+   36,671

   309,105

Foreign official and international accounts

   219,199

+    1,631

+  103,234

   219,801

Others

    74,954

-   16,104

-   66,563

    89,304

Treasury cash holdings

       277

-        3

+       61

       267

Deposits with F.R. Banks, other than reserve balances

   385,304

+   71,115

+  147,849

   359,991

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   341,996

+   56,678

+  140,804

   337,973

Foreign official

     5,240

-       48

+       10

     5,233

Other13

    38,068

+   14,484

+    7,035

    16,786

Other liabilities and capital14

    46,305

-      991

-   16,086

    45,333

Total factors, other than reserve balances,
absorbing reserve funds

2,139,139

+   53,913

+  252,586

2,128,272

Reserve balances with Federal Reserve Banks

2,395,752

-   59,017

-  269,401

2,399,266

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 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
Jan 27, 2016

Week ended
Jan 27, 2016

Change from week ended

Jan 20, 2016

Jan 28, 2015

Securities held in custody for foreign official and international accounts

3,267,091

+    1,087

-    3,780

3,267,788

Marketable U.S. Treasury securities1

2,955,765

+    4,057

+   13,616

2,957,215

Federal agency debt and mortgage-backed securities2

   263,951

-    3,053

-   22,317

   263,235

Other securities3

    47,375

+       83

+    4,921

    47,339

Securities lent to dealers

    13,429

+    1,083

+    3,092

    13,339

Overnight facility4

    13,429

+    1,083

+    3,092

    13,339

U.S. Treasury securities

    13,354

+    1,082

+    3,490

    13,258

Federal agency debt securities

        76

+        2

-      396

        81

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, January 27, 2016

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

       124

         0

         0

         0

         0

...

       124

U.S. Treasury securities1

Holdings

     1,911

    60,689

   156,556

1,120,351

   488,379

   633,455

2,461,341

Weekly changes

         0

         0

-        3

-        9

-        8

-       34

-       55

Federal agency debt securities2

Holdings

         0

     4,222

    10,916

    13,833

         0

     2,347

    31,318

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities3

Holdings

         0

         0

         0

       594

     8,978

1,734,608

1,744,179

Weekly changes

         0

         0

         0

-       19

-      179

-    5,897

-    6,096

Repurchase agreements4

         0

         0

...

...

...

...

         0

Central bank liquidity swaps5

       102

         0

         0

         0

         0

         0

       102

Reverse repurchase agreements4

   309,105

         0

...

...

...

...

   309,105

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

Jan 27, 2016

Mortgage-backed securities held outright1

1,744,179

Commitments to buy mortgage-backed securities2

    23,946

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         6

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

Jan 27, 2016

Net portfolio holdings of Maiden Lane LLC1

     1,722

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 December 31, 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
Jan 27, 2016

Change since

Wednesday

Wednesday

Jan 20, 2016

Jan 28, 2015

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,971

+       21

+       20

Securities, unamortized premiums and discounts, repurchase agreements, and loans

4,408,550

-    6,526

-   16,028

Securities held outright1

4,236,838

-    6,151

-      226

U.S. Treasury securities

2,461,341

-       55

+      537

Bills2

         0

         0

         0

Notes and bonds, nominal2

2,346,639

         0

-       73

Notes and bonds, inflation-indexed2

    98,534

         0

+       65

Inflation compensation3

    16,168

-       55

+      544

Federal agency debt securities2

    31,318

         0

-    6,270

Mortgage-backed securities4

1,744,179

-    6,096

+    5,507

Unamortized premiums on securities held outright5

   188,025

-      520

-   17,717

Unamortized discounts on securities held outright5

   -16,437

+       40

+    1,821

Repurchase agreements6

         0

         0

         0

Loans

       124

+      104

+       94

Net portfolio holdings of Maiden Lane LLC7

     1,722

+        5

+       36

Items in process of collection

(0)

       195

-       32

+       57

Bank premises

     2,238

+        1

-       24

Central bank liquidity swaps8

       102

-       23

+      101

Foreign currency denominated assets9

    19,734

-      215

-      568

Other assets10

    31,600

+      278

-    1,312

Total assets

(0)

4,482,349

-    6,491

-   17,715

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
Jan 27, 2016

Change since

Wednesday

Wednesday

Jan 20, 2016

Jan 28, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

1,368,187

-      864

+   82,370

Reverse repurchase agreements11

   309,105

-   13,869

+   27,615

Deposits

(0)

2,759,258

+    8,807

-  110,953

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

2,399,267

-   12,811

-  263,313

U.S. Treasury, General Account

   337,973

+   19,224

+  143,662

Foreign official

     5,233

+        2

+       22

Other12

(0)

    16,786

+    2,393

+    8,678

Deferred availability cash items

(0)

       466

+       43

-       19

Other liabilities and accrued dividends13

     5,829

-      609

+      914

Total liabilities

(0)

4,442,845

-    6,491

-       72

Capital accounts

Capital paid in

    29,504

         0

+      931

Surplus

    10,000

         0

-   18,573

Other capital accounts

         0

         0

         0

Total capital

    39,504

         0

-   17,643

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 earnings remittances due to the U.S. Treasury.


6. Statement of Condition of Each Federal Reserve Bank, January 27, 2016

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

       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

     1,971

        48

        78

       132

       140

       309

       198

       287

        34

        58

       155

       207

       325

Securities, unamortized premiums and discounts, repurchase agreements,
and loans

4,408,550

   111,751

2,646,431

   109,645

   105,989

   239,437

   248,248

   163,806

    45,973

    26,815

    57,272

   142,010

   511,172

Securities held outright1

4,236,838

   107,402

2,543,425

   105,377

   101,864

   230,118

   238,585

   157,417

    44,184

    25,767

    55,039

   136,482

   491,179

U.S. Treasury securities

2,461,341

    62,394

1,477,573

    61,218

    59,176

   133,684

   138,603

    91,450

    25,668

    14,969

    31,974

    79,288

   285,344

Bills2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Notes and bonds3

2,461,341

    62,394

1,477,573

    61,218

    59,176

   133,684

   138,603

    91,450

    25,668

    14,969

    31,974

    79,288

   285,344

Federal agency debt securities2

    31,318

       794

    18,801

       779

       753

     1,701

     1,764

     1,164

       327

       190

       407

     1,009

     3,631

Mortgage-backed securities4

1,744,179

    44,214

1,047,052

    43,381

    41,934

    94,733

    98,218

    64,804

    18,189

    10,607

    22,658

    56,186

   202,204

Unamortized premiums on securities held outright5

   188,025

     4,766

   112,874

     4,676

     4,521

    10,212

    10,588

     6,986

     1,961

     1,143

     2,443

     6,057

    21,798

Unamortized discounts on securities held outright5

   -16,437

      -417

    -9,867

      -409

      -395

      -893

      -926

      -611

      -171

      -100

      -214

      -529

    -1,906

Repurchase agreements6

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Loans

       124

         0

         0

         0

         0

         0

         0

        14

         0

         5

         4

         0

       101

Net portfolio holdings of Maiden

Lane LLC7

     1,722

         0

     1,722

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Items in process of collection

       195

         0

         0

         0

         0

         0

       195

         0

         0

         0

         0

         0

         0

Bank premises

     2,238

       125

       436

        75

       106

       210

       207

       204

       118

        92

       240

       226

       199

Central bank liquidity swaps8

       102

         5

        33

         6

         8

        23

         6

         3

         1

         0

         1

         1

        15

Foreign currency denominated

assets9

    19,734

       895

     6,363

     1,103

     1,538

     4,528

     1,123

       530

       184

        83

       208

       284

     2,897

Other assets10

    31,600

       843

    18,429

       795

       772

     1,894

     1,787

     1,191

       412

       216

       461

     1,127

     3,674

Interdistrict settlement account

         0

-   25,701

-   58,331

+    9,211

+    8,517

+    7,101

-    2,587

+    2,094

+   10,640

+    4,701

+    2,361

+    8,524

+   33,470

Total assets

4,482,349

    88,508

2,620,687

   121,515

   117,812

   254,698

   251,430

   169,273

    57,811

    32,227

    61,139

   153,553

   553,696

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, January 27, 2016 (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

1,545,721

    49,584

   496,936

    49,168

    82,492

   106,109

   217,258

   102,394

    51,482

    26,697

    40,523

   125,597

   197,481

Less: Notes held by F.R. Banks

   177,534

     6,015

    60,464

     6,001

     9,392

    11,692

    22,252

    10,845

     4,730

     2,695

     4,712

    13,702

    25,033

Federal Reserve notes, net

1,368,187

    43,569

   436,472

    43,167

    73,100

    94,417

   195,006

    91,549

    46,751

    24,003

    35,810

   111,895

   172,448

Reverse repurchase agreements11

   309,105

     7,836

   185,560

     7,688

     7,432

    16,789

    17,406

    11,485

     3,224

     1,880

     4,015

     9,957

    35,835

Deposits

2,759,258

    35,171

1,982,625

    68,285

    34,067

   134,120

    36,296

    64,901

     7,313

     5,734

    20,774

    30,952

   339,019

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

2,399,267

    35,168

1,630,390

    68,282

    34,063

   134,062

    36,287

    57,244

     7,306

     5,734

    20,772

    30,950

   339,009

U.S. Treasury, General Account

   337,973

         0

   337,973

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,233

         2

     5,205

         2

         3

         9

         2

         1

         0

         0

         0

         1

         6

Other12

    16,786

         2

     9,057

         0

         0

        50

         7

     7,656

         7

         0

         1

         2

         5

Deferred availability cash items

       466

         0

         0

         0

         0

         0

       150

         0

         0

       316

         0

         0

         0

Earnings remittances due to the U.S. Treasury13

     1,431

        32

       947

        27

        22

        37

        85

        52

        11

         5

        13

        49

       152

Other liabilities and accrued
dividends

     4,398

       142

     2,127

       167

       165

       462

       280

       227

       116

       121

       126

       183

       284

Total liabilities

4,442,845

    86,750

2,607,730

   119,333

   114,785

   245,825

   249,222

   168,214

    57,415

    32,059

    60,739

   153,036

   547,738

Capital

Capital paid in

    29,504

     1,304

     9,734

     1,624

     2,248

     6,579

     1,639

       791

       303

       126

       295

       373

     4,490

Surplus

    10,000

       453

     3,223

       559

       780

     2,295

       569

       269

        93

        42

       105

       144

     1,469

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

4,482,349

    88,508

2,620,687

   121,515

   117,812

   254,698

   251,430

   169,273

    57,811

    32,227

    61,139

   153,553

   553,696

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, January 27, 2016 (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 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 $10 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

Jan 27, 2016

Federal Reserve notes outstanding

1,545,721

Less: Notes held by F.R. Banks not subject to collateralization

   177,534

Federal Reserve notes to be collateralized

1,368,187

Collateral held against Federal Reserve notes

1,368,187

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

1,351,950

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

4,236,838

Less: Face value of securities under reverse repurchase agreements

   285,327

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

3,951,511

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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