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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

April 21, 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
Apr 20, 2016

Week ended
Apr 20, 2016

Change from week ended

Apr 13, 2016

Apr 22, 2015

Reserve Bank credit

4,451,709

+    3,716

+    4,338

4,450,705

Securities held outright1

4,248,800

+    3,234

+   19,762

4,248,103

U.S. Treasury securities

2,461,382

+       23

+    1,504

2,461,390

Bills2

         0

         0

         0

         0

Notes and bonds, nominal2

2,342,235

+      337

-    4,474

2,342,292

Notes and bonds, inflation-indexed2

   103,186

-      315

+    4,718

   103,134

Inflation compensation3

    15,960

         0

+    1,259

    15,965

Federal agency debt securities2

    28,331

-      926

-    7,564

    27,096

Mortgage-backed securities4

1,759,088

+    4,138

+   25,823

1,759,617

Unamortized premiums on securities held outright5

   184,918

-      224

-   16,888

   184,786

Unamortized discounts on securities held outright5

   -16,296

+       34

+    1,566

   -16,284

Repurchase agreements6

         0

         0

         0

         0

Loans

        49

+        8

+        3

        64

Primary credit

         5

+        4

-        8

         9

Secondary credit

         0

         0

         0

         0

Seasonal credit

        44

+        5

+       11

        54

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Maiden Lane LLC7

     1,722

         0

+       28

     1,722

Float

      -231

-       77

+      224

      -248

Central bank liquidity swaps8

        33

-       12

+       33

        33

Other Federal Reserve assets9

    32,714

+      753

-      389

    32,530

Foreign currency denominated assets10

    20,933

-      129

+    1,356

    20,915

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    47,770

+       14

+    1,030

    47,770

Total factors supplying reserve funds

4,536,653

+    3,602

+    6,724

4,535,631

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
Apr 20, 2016

Week ended
Apr 20, 2016

Change from week ended

Apr 13, 2016

Apr 22, 2015

Currency in circulation11

1,444,296

-      213

+   84,519

1,445,608

Reverse repurchase agreements12

   268,999

+    6,618

+    8,831

   268,513

Foreign official and international accounts

   240,526

+      486

+   84,473

   236,542

Others

    28,472

+    6,130

-   75,643

    31,971

Treasury cash holdings

       179

-       17

-       53

       157

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

   305,846

+   25,126

+  141,390

   370,295

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   268,785

+   29,150

+  118,757

   337,540

Foreign official

     5,176

         0

-       62

     5,173

Other13

    31,886

-    4,022

+   22,697

    27,582

Other liabilities and capital14

    47,083

-    1,332

-   19,166

    46,393

Total factors, other than reserve balances,
absorbing reserve funds

2,066,403

+   30,182

+  215,522

2,130,966

Reserve balances with Federal Reserve Banks

2,470,250

-   26,580

-  208,797

2,404,665

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
Apr 20, 2016

Week ended
Apr 20, 2016

Change from week ended

Apr 13, 2016

Apr 22, 2015

Securities held in custody for foreign official and international accounts

3,241,979

-    1,445

-   46,660

3,235,045

Marketable U.S. Treasury securities1

2,928,597

-      227

-   35,441

2,923,156

Federal agency debt and mortgage-backed securities2

   265,498

-    1,165

-   15,273

   263,377

Other securities3

    47,884

-       53

+    4,054

    48,512

Securities lent to dealers

    17,282

-    1,194

+    7,690

    17,802

Overnight facility4

    17,282

-    1,194

+    7,690

    17,802

U.S. Treasury securities

    17,221

-    1,211

+    7,938

    17,737

Federal agency debt securities

        61

+       17

-      249

        65

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, April 20, 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

        59

         4

         0

         0

         0

...

        64

U.S. Treasury securities1

Holdings

    27,371

    56,443

   114,430

1,156,458

   474,318

   632,370

2,461,390

Weekly changes

+   26,977

-   23,764

-    3,157

-      276

+      144

+       99

+       22

Federal agency debt securities2

Holdings

         0

     4,604

    10,663

     9,482

         0

     2,347

    27,096

Weekly changes

-    2,161

+    2,604

-    1,104

-    1,500

         0

         0

-    2,161

Mortgage-backed securities3

Holdings

         0

         0

         0

       879

     9,098

1,749,640

1,759,617

Weekly changes

         0

         0

         0

+       21

+      346

-    6,873

-    6,506

Repurchase agreements4

         0

         0

...

...

...

...

         0

Central bank liquidity swaps5

        33

         0

         0

         0

         0

         0

        33

Reverse repurchase agreements4

   268,513

         0

...

...

...

...

   268,513

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

Apr 20, 2016

Mortgage-backed securities held outright1

1,759,617

Commitments to buy mortgage-backed securities2

    17,326

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         2

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

Apr 20, 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
Apr 20, 2016

Change since

Wednesday

Wednesday

Apr 13, 2016

Apr 22, 2015

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,877

+        3

+       68

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

4,416,669

-    9,158

-      203

Securities held outright1

4,248,103

-    8,645

+   15,218

U.S. Treasury securities

2,461,390

+       22

+    1,470

Bills2

         0

         0

         0

Notes and bonds, nominal2

2,342,292

+      394

-    4,417

Notes and bonds, inflation-indexed2

   103,134

-      367

+    4,666

Inflation compensation3

    15,965

-        4

+    1,222

Federal agency debt securities2

    27,096

-    2,161

-    8,799

Mortgage-backed securities4

1,759,617

-    6,506

+   22,547

Unamortized premiums on securities held outright5

   184,786

-      571

-   16,989

Unamortized discounts on securities held outright5

   -16,284

+       34

+    1,566

Repurchase agreements6

         0

         0

         0

Loans

        64

+       23

+        3

Net portfolio holdings of Maiden Lane LLC7

     1,722

         0

+       28

Items in process of collection

(0)

       148

-       21

+       68

Bank premises

     2,222

         0

-       23

Central bank liquidity swaps8

        33

-       12

+       33

Foreign currency denominated assets9

    20,915

+       31

+    1,415

Other assets10

    30,308

-      441

-      951

Total assets

(0)

4,490,131

-    9,598

+      436

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
Apr 20, 2016

Change since

Wednesday

Wednesday

Apr 13, 2016

Apr 22, 2015

Liabilities

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

1,399,868

+      591

+   84,830

Reverse repurchase agreements11

   268,513

+    9,977

-    6,877

Deposits

(0)

2,774,960

-   17,604

-   57,379

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

2,404,665

-  105,180

-  212,715

U.S. Treasury, General Account

   337,540

+   99,612

+  136,467

Foreign official

     5,173

-       24

-       58

Other12

(0)

    27,582

-   12,012

+   18,926

Deferred availability cash items

(0)

       397

-        8

-      157

Other liabilities and accrued dividends13

     6,359

-    2,531

-    2,314

Total liabilities

(0)

4,450,097

-    9,575

+   18,104

Capital accounts

Capital paid in

    30,034

-       23

+    1,183

Surplus

    10,000

         0

-   18,851

Other capital accounts

         0

         0

         0

Total capital

    40,034

-       23

-   17,668

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, April 20, 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

       355

     3,588

       359

       586

       760

     1,541

       753

       360

       193

       296

       875

     1,371

Special drawing rights certificate acct.

     5,200

       196

     1,818

       210

       237

       412

       654

       424

       150

        90

       153

       282

       574

Coin

     1,877

        52

        81

       130

       136

       296

       178

       279

        24

        58

       150

       185

       307

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

4,416,669

   108,497

2,513,345

   119,921

   132,271

   269,916

   247,197

   175,996

    55,760

    32,572

    61,478

   157,208

   542,509

Securities held outright1

4,248,103

   104,356

2,417,456

   115,345

   127,224

   259,617

   237,763

   169,265

    53,614

    31,319

    59,122

   151,210

   521,811

U.S. Treasury securities

2,461,390

    60,465

1,400,696

    66,832

    73,714

   150,425

   137,762

    98,074

    31,065

    18,147

    34,256

    87,613

   302,342

Bills2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Notes and bonds3

2,461,390

    60,465

1,400,696

    66,832

    73,714

   150,425

   137,762

    98,074

    31,065

    18,147

    34,256

    87,613

   302,342

Federal agency debt securities2

    27,096

       666

    15,419

       736

       811

     1,656

     1,517

     1,080

       342

       200

       377

       964

     3,328

Mortgage-backed securities4

1,759,617

    43,225

1,001,340

    47,777

    52,698

   107,537

    98,484

    70,112

    22,208

    12,973

    24,489

    62,633

   216,141

Unamortized premiums on securities held outright5

   184,786

     4,539

   105,156

     5,017

     5,534

    11,293

    10,342

     7,363

     2,332

     1,362

     2,572

     6,577

    22,698

Unamortized discounts on securities held outright5

   -16,284

      -400

    -9,267

      -442

      -488

      -995

      -911

      -649

      -206

      -120

      -227

      -580

    -2,000

Repurchase agreements6

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Loans

        64

         2

         0

         0

         1

         1

         3

        17

        19

        10

        11

         0

         0

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

       148

         0

         0

         0

         0

         0

       147

         0

         0

         1

         0

         0

         0

Bank premises

     2,222

       122

       432

        74

       105

       209

       206

       202

       116

        91

       241

       226

       198

Central bank liquidity swaps8

        33

         1

        11

         2

         3

         7

         2

         1

         0

         0

         0

         0

         5

Foreign currency denominated

assets9

    20,915

       924

     6,903

     1,151

     1,593

     4,664

     1,161

       561

       215

        89

       209

       265

     3,181

Other assets10

    30,308

       785

    16,745

       831

       912

     2,030

     1,709

     1,215

       465

       246

       472

     1,158

     3,739

Interdistrict settlement account

         0

-   27,791

+   50,037

-       24

-   14,617

-   23,911

+    7,793

+    6,312

+      735

-      354

-    2,398

+    8,788

-    4,570

Total assets

4,490,131

    83,142

2,594,681

   122,653

   121,226

   254,384

   260,588

   185,743

    57,826

    32,986

    60,601

   168,987

   547,314

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, April 20, 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

1,569,663

    49,094

   499,752

    49,427

    81,936

   108,460

   222,825

   105,477

    50,797

    27,121

    39,974

   130,317

   204,483

Less: Notes held by F.R. Banks

   169,795

     5,198

    57,965

     5,652

     8,871

    11,839

    22,797

    10,080

     4,822

     2,397

     4,881

    12,724

    22,568

Federal Reserve notes, net

1,399,868

    43,896

   441,787

    43,776

    73,065

    96,620

   200,028

    95,397

    45,975

    24,724

    35,092

   117,593

   181,915

Reverse repurchase agreements11

   268,513

     6,596

   152,802

     7,291

     8,042

    16,410

    15,028

    10,699

     3,389

     1,980

     3,737

     9,558

    32,983

Deposits

2,774,960

    30,711

1,983,864

    69,199

    36,860

   131,950

    42,822

    77,853

     7,896

     5,662

    21,236

    41,064

   325,843

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

2,404,665

    30,708

1,620,941

    69,196

    36,857

   131,685

    42,813

    70,784

     7,888

     5,662

    21,235

    41,063

   325,832

U.S. Treasury, General Account

   337,540

         0

   337,540

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,173

         2

     5,146

         2

         3

         9

         2

         1

         0

         0

         0

         1

         6

Other12

    27,582

         2

    20,236

         0

         0

       256

         7

     7,068

         8

         0

         1

         0

         5

Deferred availability cash items

       397

         0

         0

         0

         0

         0

        88

         0

         0

       308

         0

         0

         0

Earnings remittances due to the U.S. Treasury13

     1,494

        41

       848

        39

        47

        88

        92

        56

        19

        10

        20

        56

       179

Other liabilities and accrued
dividends

     4,864

       151

     2,258

       195

       198

       511

       322

       253

       131

       133

       120

       207

       385

Total liabilities

4,450,097

    81,395

2,581,560

   120,499

   118,212

   245,580

   258,380

   184,258

    57,410

    32,816

    60,205

   168,477

   541,305

Capital

Capital paid in

    30,034

     1,305

     9,822

     1,604

     2,252

     6,573

     1,652

     1,218

       313

       128

       296

       383

     4,488

Surplus

    10,000

       442

     3,299

       550

       762

     2,230

       555

       268

       103

        43

       100

       127

     1,521

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

4,490,131

    83,142

2,594,681

   122,653

   121,226

   254,384

   260,588

   185,743

    57,826

    32,986

    60,601

   168,987

   547,314

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, April 20, 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

Apr 20, 2016

Federal Reserve notes outstanding

1,569,663

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

   169,795

Federal Reserve notes to be collateralized

1,399,868

Collateral held against Federal Reserve notes

1,399,868

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

1,383,632

Other assets pledged

         0

Memo:

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

4,248,103

Less: Face value of securities under reverse repurchase agreements

   251,652

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

3,996,451

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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