FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, March 9, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	March 9, 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 Mar 8, 2017
	Week ended Mar 8, 2017	Change from week ended
	Week ended Mar 8, 2017	Mar 1, 2017	Mar 9, 2016
Reserve Bank credit	4,420,645	- 6,010	- 20,713	4,421,367
Securities held outright¹	4,240,109	- 5,847	- 4,219	4,240,169
U.S. Treasury securities	2,463,590	+ 125	+ 2,410	2,463,650
Bills²	0	0	0	0
Notes and bonds, nominal²	2,340,411	- 694	- 4,107	2,340,411
Notes and bonds, inflation-indexed²	105,901	+ 693	+ 5,021	105,901
Inflation compensation³	17,278	+ 125	+ 1,497	17,337
Federal agency debt securities²	13,329	0	- 17,989	13,329
Mortgage-backed securities⁴	1,763,189	- 5,972	+ 11,359	1,763,191
Unamortized premiums on securities held outright⁵	170,257	- 463	- 16,268	170,171
Unamortized discounts on securities held outright⁵	-15,035	- 8	+ 1,383	-15,025
Repurchase agreements⁶	0	0	0	0
Loans	8	- 43	- 4	15
Primary credit	6	- 43	+ 4	13
Secondary credit	0	0	0	0
Seasonal credit	2	0	- 8	3
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,705	0	- 17	1,704
Float	-332	+ 283	- 145	-565
Central bank liquidity swaps⁸	491	- 613	+ 396	491
Other Federal Reserve assets⁹	23,443	+ 683	- 1,839	24,406
Foreign currency denominated assets¹⁰	19,705	- 169	- 555	19,670
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,684	+ 14	+ 1,014	48,684

Total factors supplying reserve funds	4,505,275	- 6,165	- 20,254	4,505,963

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 Mar 8, 2017
	Week ended Mar 8, 2017	Change from week ended
	Week ended Mar 8, 2017	Mar 1, 2017	Mar 9, 2016
Currency in circulation¹¹	1,525,011	+ 9,534	+ 90,007	1,528,995
Reverse repurchase agreements¹²	440,692	+ 20,406	+ 151,336	453,251
Foreign official and international accounts	244,398	- 6,764	+ 5,740	241,127
Others	196,294	+ 27,170	+ 145,595	212,124
Treasury cash holdings	259	+ 6	+ 19	251
Deposits with F.R. Banks, other than reserve balances	147,638	- 118,084	- 90,708	125,326
Term deposits held by depository institutions	0	- 16,625	0	0
U.S. Treasury, General Account	88,220	- 87,276	- 123,223	66,163
Foreign official	5,165	- 5	- 59	5,165
Other¹³	54,253	- 14,179	+ 32,575	53,998
Other liabilities and capital¹⁴	47,768	- 312	+ 1,078	47,008

Total factors, other than reserve balances, absorbing reserve funds	2,161,369	- 88,448	+ 151,733	2,154,832

Reserve balances with Federal Reserve Banks	2,343,906	+ 82,283	- 171,987	2,351,131

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 Mar 8, 2017
	Week ended Mar 8, 2017	Change from week ended
	Week ended Mar 8, 2017	Mar 1, 2017	Mar 9, 2016
Securities held in custody for foreign official and international accounts	3,182,730	+ 6,950	- 71,721	3,188,509
Marketable U.S. Treasury securities¹	2,853,029	+ 6,963	- 86,498	2,859,046
Federal agency debt and mortgage-backed securities²	266,505	- 166	+ 368	266,050
Other securities³	63,195	+ 152	+ 14,408	63,414
Securities lent to dealers	23,124	+ 3,866	+ 5,780	22,038
Overnight facility⁴	23,124	+ 3,866	+ 5,780	22,038
U.S. Treasury securities	23,064	+ 3,857	+ 5,804	21,957
Federal agency debt securities	60	+ 9	- 25	81

Note: Components may not sum to totals because of rounding.

1.	Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2.	Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3.	Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4.	Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 8, 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	13	3	0	0	0	...	15
U.S. Treasury securities¹
Holdings	0	60,468	183,351	1,216,815	376,137	626,878	2,463,650
Weekly changes	0	+ 11,910	- 11,905	+ 26	+ 33	+ 97	+ 162
Federal agency debt securities²
Holdings	0	4,495	4,443	2,044	0	2,347	13,329
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	174	11,446	1,751,571	1,763,191
Weekly changes	0	0	0	+ 7	+ 353	- 355	+ 5
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	491	0	0	0	0	0	491

Reverse repurchase agreements⁴	453,251	0	...	...	...	...	453,251
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	Mar 8, 2017
Mortgage-backed securities held outright¹	1,763,191

Commitments to buy mortgage-backed securities²	33,902
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	Mar 8, 2017
Net portfolio holdings of Maiden Lane LLC¹	1,704

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 Mar 8, 2017	Change since
			Wednesday	Wednesday
			Mar 1, 2017	Mar 9, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,934	- 8	+ 4
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,395,331	- 55	- 19,031
Securities held outright¹		4,240,169	+ 166	- 4,175
U.S. Treasury securities		2,463,650	+ 162	+ 2,454
Bills²		0	0	0
Notes and bonds, nominal²		2,340,411	0	- 4,107
Notes and bonds, inflation-indexed²		105,901	0	+ 5,021
Inflation compensation³		17,337	+ 162	+ 1,540
Federal agency debt securities²		13,329	0	- 17,989
Mortgage-backed securities⁴		1,763,191	+ 5	+ 11,361
Unamortized premiums on securities held outright⁵		170,171	- 263	- 16,242
Unamortized discounts on securities held outright⁵		-15,025	+ 27	+ 1,381
Repurchase agreements⁶		0	0	0
Loans		15	+ 13	+ 3
Net portfolio holdings of Maiden Lane LLC⁷		1,704	- 1	- 18
Items in process of collection	(0)	66	- 13	- 81
Bank premises		2,197	+ 1	- 28
Central bank liquidity swaps⁸		491	- 641	+ 396
Foreign currency denominated assets⁹		19,670	- 85	- 640
Other assets¹⁰		22,209	+ 2,624	- 1,846

Total assets	(0)	4,459,840	+ 1,822	- 21,243

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 Mar 8, 2017	Change since
			Wednesday	Wednesday
			Mar 1, 2017	Mar 9, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,482,492	+ 7,380	+ 90,618
Reverse repurchase agreements¹¹		453,251	+ 48,363	+ 169,818
Deposits	(0)	2,476,457	- 53,824	- 282,564
Term deposits held by depository institutions		0	- 16,625	0
Other deposits held by depository institutions		2,351,131	+ 43,177	- 182,094
U.S. Treasury, General Account		66,163	- 82,222	- 130,134
Foreign official		5,165	+ 1	- 6
Other¹²	(0)	53,998	+ 1,844	+ 29,671
Deferred availability cash items	(0)	631	+ 178	+ 243
Other liabilities and accrued dividends¹³		6,464	- 286	- 369

Total liabilities	(0)	4,419,296	+ 1,812	- 22,252

Capital accounts
Capital paid in		30,544	+ 10	+ 1,009
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		40,544	+ 10	+ 1,009

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, March 8, 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	1,934	53	74	165	137	303	190	289	28	53	122	199	318
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,395,331	107,972	2,501,231	119,342	131,632	268,614	246,002	175,133	55,472	32,405	61,172	156,450	539,905
Securities held outright¹	4,240,169	104,161	2,412,941	115,130	126,986	259,132	237,319	168,949	53,514	31,261	59,012	150,928	520,836
U.S. Treasury securities	2,463,650	60,520	1,401,982	66,893	73,782	150,563	137,888	98,164	31,093	18,163	34,288	87,693	302,620
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,650	60,520	1,401,982	66,893	73,782	150,563	137,888	98,164	31,093	18,163	34,288	87,693	302,620
Federal agency debt securities²	13,329	327	7,585	362	399	815	746	531	168	98	186	474	1,637
Mortgage-backed securities⁴	1,763,191	43,313	1,003,374	47,874	52,805	107,755	98,684	70,254	22,253	12,999	24,539	62,760	216,580
Unamortized premiums on securities held outright⁵	170,171	4,180	96,839	4,621	5,096	10,400	9,524	6,780	2,148	1,255	2,368	6,057	20,903
Unamortized discounts on securities held outright⁵	-15,025	-369	-8,550	-408	-450	-918	-841	-599	-190	-111	-209	-535	-1,846
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	15	0	1	0	0	0	0	3	0	0	1	0	11
Net portfolio holdings of Maiden
Lane LLC⁷	1,704	0	1,704	0	0	0	0	0	0	0	0	0	0
Items in process of collection	66	0	0	0	0	0	66	0	0	0	0	0	0
Bank premises	2,197	118	437	71	108	202	205	200	112	89	237	222	195
Central bank liquidity swaps⁸	491	22	162	27	37	110	27	13	5	2	5	6	75
Foreign currency denominated
assets⁹	19,670	869	6,491	1,082	1,498	4,387	1,092	527	202	84	196	249	2,992
Other assets¹⁰	22,209	576	12,043	607	664	1,539	1,262	890	560	181	355	820	2,712
Interdistrict settlement account	0	- 17,269	- 134,961	+ 2,729	+ 4,004	- 4,082	+ 27,804	+ 32,546	+ 7,723	+ 4,620	+ 8,025	+ 31,451	+ 37,408

Total assets	4,459,840	92,893	2,392,588	124,593	138,905	272,244	278,844	210,776	64,613	37,717	70,563	190,554	585,550

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, March 8, 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	1,655,974	55,015	531,691	53,513	81,900	119,106	226,103	113,577	49,207	29,401	46,636	138,003	211,823
Less: Notes held by F.R. Banks	173,482	5,875	49,647	6,083	9,552	12,401	24,211	11,563	4,480	3,454	5,433	14,973	25,809
Federal Reserve notes, net	1,482,492	49,140	482,044	47,430	72,347	106,704	201,891	102,015	44,726	25,947	41,203	123,030	186,015
Reverse repurchase agreements¹¹	453,251	11,134	257,930	12,307	13,574	27,700	25,368	18,060	5,720	3,342	6,308	16,133	55,675
Deposits	2,476,457	30,669	1,636,294	62,453	49,448	128,555	48,758	88,685	13,563	7,548	22,513	50,608	337,363
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	2,351,131	30,662	1,535,993	62,451	49,445	128,384	48,749	63,879	13,547	7,548	22,512	50,608	337,355
U.S. Treasury, General Account	66,163	0	66,163	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	53,998	6	28,999	0	0	163	7	24,805	15	0	1	0	2
Deferred availability cash items	631	0	0	0	0	0	63	0	0	569	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,873	39	1,122	44	54	80	114	69	20	13	25	70	224
Other liabilities and accrued dividends	4,591	156	2,189	177	181	446	295	253	133	128	119	192	322

Total liabilities	4,419,296	91,139	2,379,579	122,411	135,605	263,485	276,488	209,081	64,162	37,546	70,168	190,033	579,598

Capital
Capital paid in	30,544	1,321	9,806	1,645	2,485	6,598	1,773	1,276	341	129	298	393	4,479
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	4,459,840	92,893	2,392,588	124,593	138,905	272,244	278,844	210,776	64,613	37,717	70,563	190,554	585,550

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, March 8, 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	Mar 8, 2017
Federal Reserve notes outstanding	1,655,974
Less: Notes held by F.R. Banks not subject to collateralization	173,482
Federal Reserve notes to be collateralized	1,482,492
Collateral held against Federal Reserve notes	1,482,492
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,466,255
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,240,169
Less: Face value of securities under reverse repurchase agreements	439,285
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,800,885

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