FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, July 21, 2016

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	July 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 Jul 20, 2016
	Week ended Jul 20, 2016	Change from week ended
	Week ended Jul 20, 2016	Jul 13, 2016	Jul 22, 2015
Reserve Bank credit	4,439,281	+ 7,665	- 21,786	4,441,669
Securities held outright¹	4,240,111	+ 8,974	- 4,711	4,242,398
U.S. Treasury securities	2,462,612	+ 113	+ 1,290	2,462,652
Bills²	0	0	0	0
Notes and bonds, nominal²	2,341,683	+ 3,126	- 4,958	2,342,204
Notes and bonds, inflation-indexed²	104,035	- 2,634	+ 5,501	103,596
Inflation compensation³	16,894	- 380	+ 748	16,852
Federal agency debt securities²	23,536	- 1,560	- 11,672	22,492
Mortgage-backed securities⁴	1,753,963	+ 10,422	+ 5,670	1,757,254
Unamortized premiums on securities held outright⁵	180,357	+ 94	- 17,283	180,399
Unamortized discounts on securities held outright⁵	-15,809	+ 96	+ 1,631	-15,786
Repurchase agreements⁶	0	0	0	0
Loans	235	+ 51	+ 43	200
Primary credit	56	+ 30	+ 54	15
Secondary credit	0	0	0	0
Seasonal credit	179	+ 22	- 11	185
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,712	0	+ 14	1,713
Float	-344	- 52	- 12	-141
Central bank liquidity swaps⁸	185	- 2,214	- 474	185
Other Federal Reserve assets⁹	32,834	+ 717	- 994	32,702
Foreign currency denominated assets¹⁰	20,905	- 340	+ 1,502	20,789
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	47,969	+ 14	+ 892	47,969

Total factors supplying reserve funds	4,524,396	+ 7,340	- 19,393	4,526,668

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 Jul 20, 2016
	Week ended Jul 20, 2016	Change from week ended
	Week ended Jul 20, 2016	Jul 13, 2016	Jul 22, 2015
Currency in circulation¹¹	1,462,204	- 2,698	+ 92,312	1,462,600
Reverse repurchase agreements¹²	309,389	- 6,432	+ 43,659	328,316
Foreign official and international accounts	252,775	+ 1,501	+ 101,837	248,948
Others	56,614	- 7,933	- 58,178	79,368
Treasury cash holdings	63	- 7	- 33	81
Deposits with F.R. Banks, other than reserve balances	377,177	- 236	+ 166,695	369,996
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	329,150	+ 13,086	+ 134,378	327,138
Foreign official	5,200	+ 4	- 43	5,219
Other¹³	42,827	- 13,326	+ 32,361	37,639
Other liabilities and capital¹⁴	47,910	- 174	- 18,136	47,424

Total factors, other than reserve balances, absorbing reserve funds	2,196,742	- 9,549	+ 284,496	2,208,417

Reserve balances with Federal Reserve Banks	2,327,654	+ 16,888	- 303,889	2,318,251

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. 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 Jul 20, 2016
	Week ended Jul 20, 2016	Change from week ended
	Week ended Jul 20, 2016	Jul 13, 2016	Jul 22, 2015
Securities held in custody for foreign official and international accounts	3,228,447	+ 6,027	- 111,906	3,224,251
Marketable U.S. Treasury securities¹	2,905,099	- 887	- 92,053	2,902,485
Federal agency debt and mortgage-backed securities²	266,396	+ 5,592	- 32,552	264,666
Other securities³	56,951	+ 1,320	+ 12,698	57,100
Securities lent to dealers	21,155	- 3,032	+ 10,238	20,129
Overnight facility⁴	21,155	- 3,032	+ 10,238	20,129
U.S. Treasury securities	21,144	- 3,027	+ 10,285	20,122
Federal agency debt securities	11	- 5	- 47	7

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 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	185	15	0	0	0	...	200
U.S. Treasury securities¹
Holdings	7,193	20,153	147,715	1,197,133	452,290	638,167	2,462,652
Weekly changes	+ 3,546	- 7,193	+ 1,257	+ 1,232	+ 418	+ 850	+ 111
Federal agency debt securities²
Holdings	0	3,999	10,396	5,750	0	2,347	22,492
Weekly changes	- 2,604	+ 1,999	- 1,999	0	0	0	- 2,604
Mortgage-backed securities³
Holdings	0	0	0	1,058	10,305	1,745,891	1,757,254
Weekly changes	0	0	0	+ 4	+ 783	+ 12,926	+ 13,713
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	185	0	0	0	0	0	185

Reverse repurchase agreements⁴	328,316	0	...	...	...	...	328,316
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	Jul 20, 2016
Mortgage-backed securities held outright¹	1,757,254

Commitments to buy mortgage-backed securities²	22,532
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	0

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	Jul 20, 2016
Net portfolio holdings of Maiden Lane LLC¹	1,713

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 March 31, 2016. 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 Jul 20, 2016	Change since
			Wednesday	Wednesday
			Jul 13, 2016	Jul 22, 2015
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,896	+ 28	+ 11
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,407,211	+ 11,491	- 18,984
Securities held outright¹		4,242,398	+ 11,220	- 3,525
U.S. Treasury securities		2,462,652	+ 111	+ 1,282
Bills²		0	0	0
Notes and bonds, nominal²		2,342,204	+ 3,647	- 4,437
Notes and bonds, inflation-indexed²		103,596	- 3,073	+ 5,062
Inflation compensation³		16,852	- 464	+ 658
Federal agency debt securities²		22,492	- 2,604	- 12,601
Mortgage-backed securities⁴		1,757,254	+ 13,713	+ 7,794
Unamortized premiums on securities held outright⁵		180,399	+ 253	- 17,103
Unamortized discounts on securities held outright⁵		-15,786	+ 107	+ 1,642
Repurchase agreements⁶		0	0	0
Loans		200	- 89	+ 3
Net portfolio holdings of Maiden Lane LLC⁷		1,713	+ 1	+ 15
Items in process of collection	(0)	240	+ 11	+ 183
Bank premises		2,214	+ 2	- 27
Central bank liquidity swaps⁸		185	- 2,035	- 474
Foreign currency denominated assets⁹		20,789	- 329	+ 1,375
Other assets¹⁰		30,488	- 398	- 1,630

Total assets	(0)	4,480,973	+ 8,771	- 19,530

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 Jul 20, 2016	Change since
			Wednesday	Wednesday
			Jul 13, 2016	Jul 22, 2015
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,416,605	- 1,990	+ 90,891
Reverse repurchase agreements¹¹		328,316	+ 28,840	+ 62,121
Deposits	(0)	2,688,247	- 18,407	- 155,286
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,318,251	- 9,050	- 327,206
U.S. Treasury, General Account		327,138	+ 19,431	+ 143,935
Foreign official		5,219	+ 23	- 24
Other¹²	(0)	37,639	- 28,811	+ 28,009
Deferred availability cash items	(0)	382	- 258	- 49
Other liabilities and accrued dividends¹³		7,332	+ 601	+ 998

Total liabilities	(0)	4,440,881	+ 8,786	- 1,326

Capital accounts
Capital paid in		30,092	- 15	+ 944
Surplus		10,000	0	- 19,148
Other capital accounts		0	0	0

Total capital		40,092	- 15	- 18,204

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. 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 20, 2016

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	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	1,896	45	66	148	139	300	195	277	31	56	132	189	319
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,407,211	108,259	2,507,885	119,660	131,983	269,329	246,664	175,621	55,681	32,572	61,344	156,872	541,341
Securities held outright¹	4,242,398	104,216	2,414,209	115,190	127,053	259,269	237,444	169,038	53,542	31,277	59,043	151,007	521,110
U.S. Treasury securities	2,462,652	60,496	1,401,414	66,866	73,752	150,502	137,833	98,124	31,081	18,156	34,274	87,657	302,497
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,462,652	60,496	1,401,414	66,866	73,752	150,502	137,833	98,124	31,081	18,156	34,274	87,657	302,497
Federal agency debt securities²	22,492	553	12,799	611	674	1,375	1,259	896	284	166	313	801	2,763
Mortgage-backed securities⁴	1,757,254	43,167	999,996	47,713	52,627	107,392	98,352	70,018	22,178	12,955	24,456	62,549	215,850
Unamortized premiums on securities held outright⁵	180,399	4,432	102,659	4,898	5,403	11,025	10,097	7,188	2,277	1,330	2,511	6,421	22,159
Unamortized discounts on securities held outright⁵	-15,786	-388	-8,983	-429	-473	-965	-884	-629	-199	-116	-220	-562	-1,939
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	200	0	0	0	0	0	7	24	61	82	10	5	11
Net portfolio holdings of Maiden
Lane LLC⁷	1,713	0	1,713	0	0	0	0	0	0	0	0	0	0
Items in process of collection	240	0	0	0	0	0	239	0	0	1	0	0	0
Bank premises	2,214	120	429	73	106	207	208	202	115	90	241	225	197
Central bank liquidity swaps⁸	185	8	61	10	14	41	10	5	2	1	2	2	28
Foreign currency denominated
assets⁹	20,789	919	6,861	1,144	1,583	4,636	1,154	557	213	89	208	264	3,162
Other assets¹⁰	30,488	789	16,856	833	918	2,043	1,715	1,226	463	251	478	1,158	3,757
Interdistrict settlement account	0	- 27,804	+ 38,832	- 20,278	- 9,214	- 28,151	+ 5,138	+ 3,896	+ 190	- 222	- 1,618	+ 10,463	+ 28,768

Total assets	4,480,973	82,887	2,578,109	102,159	126,352	249,578	257,519	182,960	57,206	33,120	61,236	170,329	579,518

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 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
Assets, liabilities, and capital	Total	Boston	New York	Philadelphia	Cleveland	Richmond	Atlanta	Chicago	St. Louis	Minneapolis	City	Dallas	Francisco
Liabilities
Federal Reserve notes outstanding	1,597,508	49,865	516,041	49,830	81,660	111,914	222,067	106,326	50,397	27,766	41,287	133,044	207,309
Less: Notes held by F.R. Banks	180,904	5,754	55,734	6,033	8,961	13,183	26,951	11,347	5,206	2,776	4,916	15,168	24,873
Federal Reserve notes, net	1,416,605	44,111	460,307	43,796	72,699	98,731	195,116	94,979	45,191	24,991	36,371	117,876	182,436
Reverse repurchase agreements¹¹	328,316	8,065	186,834	8,914	9,832	20,065	18,376	13,082	4,144	2,421	4,569	11,686	40,328
Deposits	2,688,247	28,756	1,914,034	47,041	40,535	121,393	41,100	73,057	7,288	5,244	19,751	39,952	350,095
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	2,318,251	28,748	1,551,156	47,038	40,532	121,271	41,091	66,104	7,280	5,243	19,750	39,951	350,086
U.S. Treasury, General Account	327,138	0	327,138	0	0	0	0	0	0	0	0	0	0
Foreign official	5,219	2	5,193	2	3	9	2	1	0	0	0	1	6
Other¹²	37,639	7	30,547	1	0	112	7	6,952	8	0	1	0	3
Deferred availability cash items	382	0	0	0	0	0	241	0	0	141	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,066	17	710	17	15	-4	69	40	14	11	11	51	114
Other liabilities and accrued dividends	6,266	191	3,072	228	233	584	398	313	150	143	141	256	555

Total liabilities	4,440,881	81,141	2,564,957	99,998	123,315	240,769	255,300	181,471	56,788	32,950	60,844	169,822	573,528

Capital
Capital paid in	30,092	1,305	9,853	1,611	2,276	6,579	1,664	1,221	316	128	292	380	4,469
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	4,480,973	82,887	2,578,109	102,159	126,352	249,578	257,519	182,960	57,206	33,120	61,236	170,329	579,518

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 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. 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 $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
Federal Reserve notes and collateral	Jul 20, 2016
Federal Reserve notes outstanding	1,597,508
Less: Notes held by F.R. Banks not subject to collateralization	180,904
Federal Reserve notes to be collateralized	1,416,605
Collateral held against Federal Reserve notes	1,416,605
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,400,368
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,242,398
Less: Face value of securities under reverse repurchase agreements	301,769
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,940,630

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