FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, January 26, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	January 26, 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 25, 2017
	Week ended Jan 25, 2017	Change from week ended
	Week ended Jan 25, 2017	Jan 18, 2017	Jan 27, 2016
Reserve Bank credit	4,419,160	+ 5,885	- 32,138	4,414,109
Securities held outright¹	4,227,656	+ 6,569	- 15,773	4,224,236
U.S. Treasury securities	2,463,478	- 39	+ 2,117	2,463,462
Bills²	0	0	0	0
Notes and bonds, nominal²	2,342,206	+ 2,216	- 4,433	2,342,206
Notes and bonds, inflation-indexed²	104,106	- 1,850	+ 5,572	104,106
Inflation compensation³	17,165	- 406	+ 977	17,149
Federal agency debt securities²	16,180	0	- 15,138	16,180
Mortgage-backed securities⁴	1,747,998	+ 6,608	- 2,752	1,744,594
Unamortized premiums on securities held outright⁵	171,805	- 464	- 16,561	171,505
Unamortized discounts on securities held outright⁵	-15,083	- 33	+ 1,372	-15,071
Repurchase agreements⁶	0	0	0	0
Loans	11	- 1	- 29	4
Primary credit	8	- 3	- 18	0
Secondary credit	0	0	0	0
Seasonal credit	3	+ 2	- 11	4
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,705	0	- 13	1,707
Float	-372	+ 93	- 215	-516
Central bank liquidity swaps⁸	486	- 129	+ 384	465
Other Federal Reserve assets⁹	32,951	- 151	- 1,304	31,778
Foreign currency denominated assets¹⁰	19,857	+ 57	+ 127	19,958
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,590	+ 14	+ 985	48,590

Total factors supplying reserve funds	4,503,849	+ 5,957	- 31,024	4,498,898

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 25, 2017
	Week ended Jan 25, 2017	Change from week ended
	Week ended Jan 25, 2017	Jan 18, 2017	Jan 27, 2016
Currency in circulation¹¹	1,500,337	- 2,868	+ 87,254	1,499,320
Reverse repurchase agreements¹²	389,383	+ 32,611	+ 95,230	361,564
Foreign official and international accounts	252,260	- 1,521	+ 33,061	253,204
Others	137,123	+ 34,132	+ 62,169	108,360
Treasury cash holdings	204	+ 20	- 73	216
Deposits with F.R. Banks, other than reserve balances	449,927	+ 9,359	+ 64,623	454,724
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	390,842	+ 24,752	+ 48,846	401,735
Foreign official	5,179	+ 13	- 61	5,165
Other¹³	53,906	- 15,406	+ 15,838	47,824
Other liabilities and capital¹⁴	47,501	- 1,469	+ 1,196	46,061

Total factors, other than reserve balances, absorbing reserve funds	2,387,351	+ 37,653	+ 248,229	2,361,886

Reserve balances with Federal Reserve Banks	2,116,497	- 31,698	- 279,255	2,137,012

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 25, 2017
	Week ended Jan 25, 2017	Change from week ended
	Week ended Jan 25, 2017	Jan 18, 2017	Jan 27, 2016
Securities held in custody for foreign official and international accounts	3,170,621	+ 787	- 96,470	3,171,990
Marketable U.S. Treasury securities¹	2,854,832	+ 4,493	- 100,933	2,854,953
Federal agency debt and mortgage-backed securities²	255,501	- 4,655	- 8,450	256,236
Other securities³	60,288	+ 949	+ 12,913	60,801
Securities lent to dealers	16,299	- 2,807	+ 2,870	14,081
Overnight facility⁴	16,299	- 2,807	+ 2,870	14,081
U.S. Treasury securities	16,252	- 2,805	+ 2,898	14,034
Federal agency debt securities	47	- 2	- 29	47

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 25, 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	4	0	0	0	0	...	4
U.S. Treasury securities¹
Holdings	7,356	34,350	153,339	1,233,263	405,066	630,088	2,463,462
Weekly changes	0	0	- 2	- 7	- 9	- 25	- 42
Federal agency debt securities²
Holdings	0	4,351	7,438	2,044	0	2,347	16,180
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	120	10,613	1,733,860	1,744,594
Weekly changes	0	0	0	+ 37	- 244	- 6,140	- 6,346
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	465	0	0	0	0	0	465

Reverse repurchase agreements⁴	361,564	0	...	...	...	...	361,564
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 25, 2017
Mortgage-backed securities held outright¹	1,744,594

Commitments to buy mortgage-backed securities²	33,835
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	Jan 25, 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 December 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 Jan 25, 2017	Change since
			Wednesday	Wednesday
			Jan 18, 2017	Jan 27, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,938	+ 27	- 33
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,380,674	- 7,113	- 27,876
Securities held outright¹		4,224,236	- 6,389	- 12,602
U.S. Treasury securities		2,463,462	- 42	+ 2,121
Bills²		0	0	0
Notes and bonds, nominal²		2,342,206	0	- 4,433
Notes and bonds, inflation-indexed²		104,106	0	+ 5,572
Inflation compensation³		17,149	- 43	+ 981
Federal agency debt securities²		16,180	0	- 15,138
Mortgage-backed securities⁴		1,744,594	- 6,346	+ 415
Unamortized premiums on securities held outright⁵		171,505	- 711	- 16,520
Unamortized discounts on securities held outright⁵		-15,071	+ 31	+ 1,366
Repurchase agreements⁶		0	0	0
Loans		4	- 44	- 120
Net portfolio holdings of Maiden Lane LLC⁷		1,707	+ 2	- 15
Items in process of collection	(0)	81	- 34	- 114
Bank premises		2,205	+ 1	- 33
Central bank liquidity swaps⁸		465	- 150	+ 363
Foreign currency denominated assets⁹		19,958	+ 51	+ 224
Other assets¹⁰		29,573	- 704	- 2,027

Total assets	(0)	4,452,838	- 7,920	- 29,511

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 25, 2017	Change since
			Wednesday	Wednesday
			Jan 18, 2017	Jan 27, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,452,880	- 3,898	+ 84,693
Reverse repurchase agreements¹¹		361,564	- 21,313	+ 52,459
Deposits	(0)	2,591,736	+ 20,108	- 167,522
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,137,012	+ 18,194	- 262,255
U.S. Treasury, General Account		401,735	+ 4,819	+ 63,762
Foreign official		5,165	0	- 68
Other¹²	(0)	47,824	- 2,904	+ 31,038
Deferred availability cash items	(0)	596	- 173	+ 130
Other liabilities and accrued dividends¹³		5,611	- 2,649	- 218

Total liabilities	(0)	4,412,387	- 7,925	- 30,458

Capital accounts
Capital paid in		30,450	+ 4	+ 946
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		40,450	+ 4	+ 946

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 25, 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	1,938	53	77	163	137	312	197	288	32	53	117	198	312
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,380,674	107,613	2,492,895	118,945	131,194	267,719	245,183	174,547	55,288	32,298	60,970	155,929	538,095
Securities held outright¹	4,224,236	103,769	2,403,873	114,697	126,509	258,159	236,427	168,314	53,313	31,143	58,790	150,361	518,879
U.S. Treasury securities	2,463,462	60,516	1,401,875	66,888	73,777	150,551	137,878	98,156	31,091	18,162	34,285	87,686	302,597
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,462	60,516	1,401,875	66,888	73,777	150,551	137,878	98,156	31,091	18,162	34,285	87,686	302,597
Federal agency debt securities²	16,180	397	9,208	439	485	989	906	645	204	119	225	576	1,987
Mortgage-backed securities⁴	1,744,594	42,856	992,791	47,370	52,248	106,619	97,643	69,513	22,018	12,862	24,280	62,098	214,295
Unamortized premiums on securities held outright⁵	171,505	4,213	97,598	4,657	5,136	10,481	9,599	6,834	2,165	1,264	2,387	6,105	21,067
Unamortized discounts on securities held outright⁵	-15,071	-370	-8,576	-409	-451	-921	-844	-600	-190	-111	-210	-536	-1,851
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	4	1	0	0	0	0	0	0	0	1	2	0	0
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	81	0	0	0	0	0	80	0	0	1	0	0	0
Bank premises	2,205	118	437	72	107	203	206	201	113	89	239	223	196
Central bank liquidity swaps⁸	465	21	153	26	35	104	26	12	5	2	5	6	71
Foreign currency denominated
assets⁹	19,958	882	6,587	1,098	1,520	4,451	1,108	535	205	85	199	253	3,036
Other assets¹⁰	29,573	769	16,334	807	892	1,980	1,672	1,183	454	237	469	1,144	3,632
Interdistrict settlement account	0	- 24,605	+ 55,850	- 8,366	- 14,558	- 14,282	+ 5,705	+ 7,302	+ 3,763	+ 1,652	+ 2,387	+ 12,937	- 27,785

Total assets	4,452,838	85,402	2,579,446	113,312	120,150	261,659	256,372	185,246	60,369	34,700	64,834	171,847	519,501

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 25, 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	1,644,410	53,968	534,303	51,861	80,838	118,788	225,470	109,268	49,212	28,576	45,961	136,215	209,950
Less: Notes held by F.R. Banks	191,530	6,304	49,011	7,134	9,726	15,104	28,492	12,892	5,845	3,291	6,152	17,844	29,735
Federal Reserve notes, net	1,452,880	47,663	485,292	44,728	71,112	103,684	196,978	96,376	43,367	25,285	39,809	118,371	180,215
Reverse repurchase agreements¹¹	361,564	8,882	205,754	9,817	10,828	22,097	20,236	14,406	4,563	2,666	5,032	12,870	44,412
Deposits	2,591,736	26,913	1,872,779	56,376	34,737	126,551	36,313	72,551	11,856	5,969	19,462	39,832	288,397
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	2,137,012	26,906	1,434,036	56,373	34,734	126,475	36,304	56,701	11,834	5,968	19,461	39,830	288,389
U.S. Treasury, General Account	401,735	0	401,735	0	0	0	0	0	0	0	0	0	0
Foreign official	5,165	2	5,138	2	3	9	2	1	0	0	0	1	6
Other¹²	47,824	5	31,870	0	0	67	7	15,849	22	0	1	2	2
Deferred availability cash items	596	0	0	0	0	0	126	0	0	470	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,116	25	708	37	-7	116	45	-49	10	2	6	52	172
Other liabilities and accrued dividends	4,495	166	1,962	180	185	462	316	269	131	137	132	205	349

Total liabilities	4,412,387	83,648	2,566,496	111,138	116,856	252,909	254,014	183,553	59,927	34,529	64,441	171,330	513,545

Capital
Capital paid in	30,450	1,320	9,748	1,637	2,479	6,588	1,774	1,274	333	129	296	389	4,483
Surplus	10,000	434	3,202	538	815	2,161	583	419	109	42	97	128	1,473
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,452,838	85,402	2,579,446	113,312	120,150	261,659	256,372	185,246	60,369	34,700	64,834	171,847	519,501

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 25, 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 25, 2017
Federal Reserve notes outstanding	1,644,410
Less: Notes held by F.R. Banks not subject to collateralization	191,530
Federal Reserve notes to be collateralized	1,452,880
Collateral held against Federal Reserve notes	1,452,880
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,436,643
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,224,236
Less: Face value of securities under reverse repurchase agreements	347,075
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,877,161

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