FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, January 5, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	January 5, 2017

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 4, 2017
	Week ended Jan 4, 2017	Change from week ended
	Week ended Jan 4, 2017	Dec 28, 2016	Jan 6, 2016
Reserve Bank credit	4,414,390	- 12,834	- 32,811	4,414,621
Securities held outright¹	4,221,179	- 12,212	- 20,764	4,221,162
U.S. Treasury securities	2,463,609	+ 18	+ 2,074	2,463,591
Bills²	0	0	0	0
Notes and bonds, nominal²	2,339,103	0	- 7,536	2,339,103
Notes and bonds, inflation-indexed²	106,697	0	+ 8,163	106,697
Inflation compensation³	17,808	+ 17	+ 1,445	17,791
Federal agency debt securities²	16,180	0	- 16,764	16,180
Mortgage-backed securities⁴	1,741,391	- 12,229	- 6,073	1,741,391
Unamortized premiums on securities held outright⁵	172,934	- 650	- 16,439	172,789
Unamortized discounts on securities held outright⁵	-15,081	+ 23	+ 1,480	-15,083
Repurchase agreements⁶	0	0	0	0
Loans	54	+ 10	- 50	40
Primary credit	35	+ 20	- 30	35
Secondary credit	1	+ 1	+ 1	0
Seasonal credit	18	- 11	- 21	5
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,701	- 6	- 16	1,707
Float	-846	- 560	- 753	-798
Central bank liquidity swaps⁸	5,458	+ 632	+ 4,461	5,563
Other Federal Reserve assets⁹	28,991	- 70	- 729	29,242
Foreign currency denominated assets¹⁰	19,524	+ 157	- 115	19,401
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,552	+ 14	+ 985	48,552

Total factors supplying reserve funds	4,498,707	- 12,662	- 31,941	4,498,816

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 4, 2017
	Week ended Jan 4, 2017	Change from week ended
	Week ended Jan 4, 2017	Dec 28, 2016	Jan 6, 2016
Currency in circulation¹¹	1,509,362	+ 3,286	+ 85,059	1,509,068
Reverse repurchase agreements¹²	652,825	+ 112,276	+ 80,612	523,213
Foreign official and international accounts	256,597	+ 9,317	+ 26,418	256,745
Others	396,228	+ 102,959	+ 54,194	266,468
Treasury cash holdings	167	+ 3	- 101	176
Deposits with F.R. Banks, other than reserve balances	444,009	- 21,062	+ 77,622	422,158
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	387,989	+ 7,310	+ 54,769	371,833
Foreign official	5,165	- 1	- 67	5,164
Other¹³	50,855	- 28,372	+ 22,920	45,161
Other liabilities and capital¹⁴	46,948	- 6	+ 1,125	46,036

Total factors, other than reserve balances, absorbing reserve funds	2,653,311	+ 94,497	+ 244,317	2,500,651

Reserve balances with Federal Reserve Banks	1,845,396	- 107,159	- 276,258	1,998,165

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 Jan 4, 2017
	Week ended Jan 4, 2017	Change from week ended
	Week ended Jan 4, 2017	Dec 28, 2016	Jan 6, 2016
Securities held in custody for foreign official and international accounts	3,181,964	+ 2,087	- 129,822	3,179,198
Marketable U.S. Treasury securities¹	2,861,157	+ 2,214	- 135,314	2,858,265
Federal agency debt and mortgage-backed securities²	261,401	- 138	- 7,296	261,493
Other securities³	59,406	+ 11	+ 12,789	59,440
Securities lent to dealers	23,486	+ 1,499	+ 6,558	21,295
Overnight facility⁴	23,486	+ 1,499	+ 6,558	21,295
U.S. Treasury securities	23,442	+ 1,471	+ 6,650	21,251
Federal agency debt securities	45	+ 29	- 90	44

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 4, 2017

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	35	5	0	0	0	...	40
U.S. Treasury securities¹
Holdings	3,105	41,249	150,766	1,232,322	402,996	633,154	2,463,591
Weekly changes	- 8,597	+ 10,454	+ 3,944	- 9,527	+ 3,721	- 6	- 10
Federal agency debt securities²
Holdings	0	2,851	8,938	2,044	0	2,347	16,180
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	84	10,895	1,730,411	1,741,391
Weekly changes	0	0	0	+ 7	+ 311	- 315	+ 4
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	5,563	0	0	0	0	0	5,563

Reverse repurchase agreements⁴	523,213	0	...	...	...	...	523,213
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	Jan 4, 2017
Mortgage-backed securities held outright¹	1,741,391

Commitments to buy mortgage-backed securities²	40,064
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
Account name	Jan 4, 2017
Net portfolio holdings of Maiden Lane LLC¹	1,707

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, 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 Jan 4, 2017	Change since
			Wednesday	Wednesday
			Dec 28, 2016	Jan 6, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,875	+ 1	- 18
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,378,908	- 325	- 35,786
Securities held outright¹		4,221,162	- 6	- 20,754
U.S. Treasury securities		2,463,591	- 10	+ 2,086
Bills²		0	0	0
Notes and bonds, nominal²		2,339,103	0	- 7,536
Notes and bonds, inflation-indexed²		106,697	0	+ 8,163
Inflation compensation³		17,791	- 10	+ 1,458
Federal agency debt securities²		16,180	0	- 16,764
Mortgage-backed securities⁴		1,741,391	+ 4	- 6,076
Unamortized premiums on securities held outright⁵		172,789	- 320	- 16,381
Unamortized discounts on securities held outright⁵		-15,083	+ 9	+ 1,461
Repurchase agreements⁶		0	0	0
Loans		40	- 7	- 111
Net portfolio holdings of Maiden Lane LLC⁷		1,707	0	- 10
Items in process of collection	(0)	168	+ 74	- 13
Bank premises		2,202	- 8	- 33
Central bank liquidity swaps⁸		5,563	+ 737	+ 4,566
Foreign currency denominated assets⁹		19,401	+ 113	- 266
Other assets¹⁰		27,041	+ 1,058	- 1,943

Total assets	(0)	4,453,101	+ 1,650	- 33,505

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 4, 2017	Change since
			Wednesday	Wednesday
			Dec 28, 2016	Jan 6, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,462,563	- 11	+ 86,062
Reverse repurchase agreements¹¹		523,213	- 50,544	+ 178,248
Deposits	(0)	2,420,324	+ 52,385	- 298,820
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,998,166	+ 55,183	- 355,335
U.S. Treasury, General Account		371,833	- 992	+ 34,096
Foreign official		5,164	- 1	- 77
Other¹²	(0)	45,161	- 1,805	+ 22,496
Deferred availability cash items	(0)	966	+ 181	+ 622
Other liabilities and accrued dividends¹³		5,594	- 359	- 553

Total liabilities	(0)	4,412,659	+ 1,651	- 34,442

Capital accounts
Capital paid in		30,442	- 1	+ 937
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		40,442	- 1	+ 937

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, January 4, 2017

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	1,875	47	67	159	137	306	186	281	29	51	113	192	307
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,378,908	107,568	2,491,870	118,896	131,140	267,639	245,083	174,476	55,265	32,284	60,946	155,865	537,877
Securities held outright¹	4,221,162	103,694	2,402,124	114,614	126,417	257,971	236,255	168,192	53,274	31,121	58,748	150,251	518,502
U.S. Treasury securities	2,463,591	60,519	1,401,949	66,892	73,780	150,559	137,885	98,162	31,093	18,163	34,287	87,691	302,612
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,591	60,519	1,401,949	66,892	73,780	150,559	137,885	98,162	31,093	18,163	34,287	87,691	302,612
Federal agency debt securities²	16,180	397	9,208	439	485	989	906	645	204	119	225	576	1,987
Mortgage-backed securities⁴	1,741,391	42,778	990,968	47,283	52,152	106,423	97,464	69,386	21,978	12,839	24,236	61,984	213,902
Unamortized premiums on securities held outright⁵	172,789	4,245	98,328	4,692	5,175	10,560	9,671	6,885	2,181	1,274	2,405	6,150	21,224
Unamortized discounts on securities held outright⁵	-15,083	-371	-8,583	-410	-452	-922	-844	-601	-190	-111	-210	-537	-1,853
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	40	0	0	0	0	30	1	0	0	1	4	0	4
Net portfolio holdings of Maiden
Lane LLC⁷	1,707	0	1,707	0	0	0	0	0	0	0	0	0	0
Items in process of collection	168	0	0	0	0	0	167	0	0	1	0	0	0
Bank premises	2,202	118	435	72	107	203	206	200	114	89	239	223	196
Central bank liquidity swaps⁸	5,563	246	1,835	306	424	1,241	309	149	57	24	56	71	846
Foreign currency denominated
assets⁹	19,401	857	6,403	1,067	1,478	4,326	1,077	520	199	83	194	246	2,951
Other assets¹⁰	27,041	701	14,949	741	817	1,819	1,542	1,088	421	223	428	980	3,332
Interdistrict settlement account	0	- 21,882	- 48,116	- 7,846	- 3,399	- 6,777	+ 20,265	+ 18,080	+ 3,912	+ 3,948	+ 4,245	+ 22,985	+ 14,584

Total assets	4,453,101	88,206	2,474,556	113,965	131,527	269,929	271,030	195,970	60,506	36,986	66,669	181,718	562,039

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 4, 2017 (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	1,637,946	52,700	534,554	51,924	80,444	117,625	224,189	108,957	49,503	28,332	44,751	135,700	209,268
Less: Notes held by F.R. Banks	175,384	5,599	50,477	6,280	8,467	12,730	24,881	10,798	5,161	2,913	5,572	16,250	26,256
Federal Reserve notes, net	1,462,563	47,101	484,077	45,644	71,976	104,895	199,308	98,159	44,342	25,419	39,180	119,449	183,012
Reverse repurchase agreements¹¹	523,213	12,853	297,743	14,206	15,669	31,975	29,284	20,847	6,603	3,857	7,282	18,624	64,268
Deposits	2,420,324	26,323	1,676,976	51,726	40,431	123,759	39,371	75,118	8,978	6,804	19,685	42,875	308,276
Term deposits held by depository institutions	0	0	0	0	0	0	0	0	0	0	0	0	0
Other deposits held by depository institutions	1,998,166	26,316	1,271,233	51,724	40,428	123,598	39,362	58,921	8,957	6,804	19,681	42,874	308,267
U.S. Treasury, General Account	371,833	0	371,833	0	0	0	0	0	0	0	0	0	0
Foreign official	5,164	2	5,137	2	3	9	2	1	0	0	0	1	6
Other¹²	45,161	5	28,773	0	0	153	7	16,196	21	0	4	0	2
Deferred availability cash items	966	0	0	0	0	0	369	0	0	596	0	0	0
Earnings remittances due to the U.S. Treasury¹³	960	21	581	22	25	34	60	38	12	7	13	38	108
Other liabilities and accrued dividends	4,635	146	2,132	179	183	455	308	266	134	131	113	216	370

Total liabilities	4,412,659	86,444	2,461,509	111,778	128,285	261,119	268,701	194,428	60,071	36,814	66,274	181,202	556,035

Capital
Capital paid in	30,442	1,320	9,748	1,637	2,480	6,580	1,774	1,274	333	129	296	389	4,483
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	4,453,101	88,206	2,474,556	113,965	131,527	269,929	271,030	195,970	60,506	36,986	66,669	181,718	562,039

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 4, 2017 (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	Jan 4, 2017
Federal Reserve notes outstanding	1,637,946
Less: Notes held by F.R. Banks not subject to collateralization	175,384
Federal Reserve notes to be collateralized	1,462,563
Collateral held against Federal Reserve notes	1,462,563
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,446,326
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,221,162
Less: Face value of securities under reverse repurchase agreements	501,668
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,719,494

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