FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, March 30, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	March 30, 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 29, 2017
	Week ended Mar 29, 2017	Change from week ended
	Week ended Mar 29, 2017	Mar 22, 2017	Mar 30, 2016
Reserve Bank credit	4,436,371	+ 154	- 8,216	4,430,526
Securities held outright¹	4,251,603	- 417	+ 6,546	4,246,783
U.S. Treasury securities	2,464,276	+ 362	+ 2,966	2,464,335
Bills²	0	0	0	0
Notes and bonds, nominal²	2,340,611	+ 200	- 3,907	2,340,611
Notes and bonds, inflation-indexed²	105,901	0	+ 5,021	105,901
Inflation compensation³	17,763	+ 161	+ 1,851	17,823
Federal agency debt securities²	13,329	0	- 15,928	13,329
Mortgage-backed securities⁴	1,773,998	- 779	+ 19,508	1,769,118
Unamortized premiums on securities held outright⁵	169,752	- 267	- 16,111	169,503
Unamortized discounts on securities held outright⁵	-14,960	+ 26	+ 1,354	-14,948
Repurchase agreements⁶	0	0	0	0
Loans	11	+ 2	- 25	11
Primary credit	3	0	- 20	0
Secondary credit	0	0	0	0
Seasonal credit	8	+ 3	- 6	10
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,707	0	- 15	1,707
Float	-351	- 61	+ 49	-719
Central bank liquidity swaps⁸	1,007	- 12	+ 959	1,007
Other Federal Reserve assets⁹	27,602	+ 882	- 973	27,184
Foreign currency denominated assets¹⁰	20,232	+ 167	- 277	20,158
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,726	+ 14	+ 1,014	48,726

Total factors supplying reserve funds	4,521,570	+ 334	- 7,479	4,515,652

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 29, 2017
	Week ended Mar 29, 2017	Change from week ended
	Week ended Mar 29, 2017	Mar 22, 2017	Mar 30, 2016
Currency in circulation¹¹	1,534,102	+ 2,310	+ 92,829	1,536,334
Reverse repurchase agreements¹²	468,923	- 12,486	+ 164,714	510,897
Foreign official and international accounts	249,997	+ 5,058	+ 14,231	250,540
Others	218,926	- 17,544	+ 150,483	260,357
Treasury cash holdings	266	+ 3	+ 49	267
Deposits with F.R. Banks, other than reserve balances	160,621	+ 12,663	- 166,644	150,725
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	65,187	- 5,640	- 219,473	63,101
Foreign official	5,168	- 5	- 42	5,164
Other¹³	90,266	+ 18,309	+ 52,871	82,460
Other liabilities and capital¹⁴	48,726	+ 325	+ 1,057	47,445

Total factors, other than reserve balances, absorbing reserve funds	2,212,639	+ 2,816	+ 92,006	2,245,668

Reserve balances with Federal Reserve Banks	2,308,932	- 2,481	- 99,485	2,269,984

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 29, 2017
	Week ended Mar 29, 2017	Change from week ended
	Week ended Mar 29, 2017	Mar 22, 2017	Mar 30, 2016
Securities held in custody for foreign official and international accounts	3,207,011	- 4,832	- 53,431	3,206,297
Marketable U.S. Treasury securities¹	2,883,738	- 3,713	- 62,928	2,883,579
Federal agency debt and mortgage-backed securities²	261,066	- 1,689	- 4,820	260,589
Other securities³	62,208	+ 571	+ 14,318	62,129
Securities lent to dealers	24,768	+ 941	+ 2,115	23,376
Overnight facility⁴	24,768	+ 941	+ 2,115	23,376
U.S. Treasury securities	24,696	+ 945	+ 2,086	23,293
Federal agency debt securities	73	- 4	+ 31	83

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 29, 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	11	0	0	0	0	...	11
U.S. Treasury securities¹
Holdings	13,559	46,911	183,368	1,216,893	376,236	627,368	2,464,335
Weekly changes	0	+ 1	+ 5	+ 26	+ 33	+ 297	+ 361
Federal agency debt securities²
Holdings	0	5,232	3,706	2,044	0	2,347	13,329
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	57	11,038	1,758,023	1,769,118
Weekly changes	0	0	0	- 118	- 384	- 8,025	- 8,527
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	1,007	0	0	0	0	0	1,007

Reverse repurchase agreements⁴	510,897	0	...	...	...	...	510,897
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 29, 2017
Mortgage-backed securities held outright¹	1,769,118

Commitments to buy mortgage-backed securities²	21,546
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	7

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 29, 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 Mar 29, 2017	Change since
			Wednesday	Wednesday
			Mar 22, 2017	Mar 30, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,912	- 9	+ 36
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,401,348	- 8,651	- 11,605
Securities held outright¹		4,246,783	- 8,164	+ 3,117
U.S. Treasury securities		2,464,335	+ 361	+ 3,009
Bills²		0	0	0
Notes and bonds, nominal²		2,340,611	+ 200	- 3,907
Notes and bonds, inflation-indexed²		105,901	0	+ 5,021
Inflation compensation³		17,823	+ 162	+ 1,895
Federal agency debt securities²		13,329	0	- 15,928
Mortgage-backed securities⁴		1,769,118	- 8,527	+ 16,036
Unamortized premiums on securities held outright⁵		169,503	- 516	- 16,054
Unamortized discounts on securities held outright⁵		-14,948	+ 28	+ 1,353
Repurchase agreements⁶		0	0	0
Loans		11	+ 2	- 21
Net portfolio holdings of Maiden Lane LLC⁷		1,707	0	- 15
Items in process of collection	(0)	65	+ 16	- 77
Bank premises		2,200	+ 1	- 26
Central bank liquidity swaps⁸		1,007	- 12	+ 959
Foreign currency denominated assets⁹		20,158	- 47	- 523
Other assets¹⁰		24,984	+ 86	- 1,972

Total assets	(0)	4,469,618	- 8,618	- 13,222

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 29, 2017	Change since
			Wednesday	Wednesday
			Mar 22, 2017	Mar 30, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,489,783	+ 2,478	+ 92,141
Reverse repurchase agreements¹¹		510,897	+ 15,179	+ 141,209
Deposits	(0)	2,420,709	- 26,241	- 246,512
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,269,985	- 43,977	- 66,101
U.S. Treasury, General Account		63,101	+ 8,856	- 228,811
Foreign official		5,164	- 7	- 8
Other¹²	(0)	82,460	+ 8,888	+ 48,410
Deferred availability cash items	(0)	783	+ 297	- 607
Other liabilities and accrued dividends¹³		6,850	- 361	+ 27

Total liabilities	(0)	4,429,023	- 8,647	- 13,740

Capital accounts
Capital paid in		30,595	+ 30	+ 518
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		40,595	+ 30	+ 518

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 29, 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	1,912	53	66	174	134	298	187	289	24	55	122	195	315
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,401,348	108,122	2,504,656	119,506	131,813	268,982	246,339	175,375	55,548	32,449	61,259	156,664	540,633
Securities held outright¹	4,246,783	104,323	2,416,704	115,309	127,184	259,537	237,689	169,213	53,598	31,310	59,104	151,163	521,649
U.S. Treasury securities	2,464,335	60,537	1,402,372	66,912	73,803	150,605	137,927	98,191	31,102	18,168	34,297	87,717	302,704
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,464,335	60,537	1,402,372	66,912	73,803	150,605	137,927	98,191	31,102	18,168	34,297	87,717	302,704
Federal agency debt securities²	13,329	327	7,585	362	399	815	746	531	168	98	186	474	1,637
Mortgage-backed securities⁴	1,769,118	43,459	1,006,747	48,035	52,982	108,117	99,016	70,490	22,328	13,043	24,621	62,971	217,308
Unamortized premiums on securities held outright⁵	169,503	4,164	96,458	4,602	5,076	10,359	9,487	6,754	2,139	1,250	2,359	6,033	20,821
Unamortized discounts on securities held outright⁵	-14,948	-367	-8,507	-406	-448	-914	-837	-596	-189	-110	-208	-532	-1,836
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	11	2	0	0	0	0	0	4	0	0	4	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	65	0	0	0	0	0	64	0	0	0	0	0	0
Bank premises	2,200	120	439	72	108	201	204	200	113	89	238	222	195
Central bank liquidity swaps⁸	1,007	45	332	55	77	225	56	27	10	4	10	13	153
Foreign currency denominated
assets⁹	20,158	891	6,652	1,109	1,535	4,496	1,119	540	207	86	201	256	3,067
Other assets¹⁰	24,984	651	13,687	689	751	1,704	1,421	1,003	379	207	398	1,016	3,075
Interdistrict settlement account	0	- 4,370	- 178,815	+ 5,844	- 5,994	+ 2,687	+ 24,843	+ 60,794	+ 7,200	+ 5,224	+ 7,690	+ 33,028	+ 41,868

Total assets	4,469,618	106,062	2,354,130	128,019	129,247	279,765	276,429	239,406	63,991	38,398	70,368	192,551	591,252

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 29, 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	1,663,111	54,904	530,715	53,550	82,269	118,799	225,684	113,888	51,663	29,260	46,492	140,647	215,241
Less: Notes held by F.R. Banks	173,328	5,551	45,811	6,556	9,816	13,241	24,839	11,669	5,244	3,223	5,684	15,770	25,922
Federal Reserve notes, net	1,489,783	49,352	484,904	46,994	72,452	105,558	200,845	102,219	46,419	26,037	40,808	124,877	189,319
Reverse repurchase agreements¹¹	510,897	12,550	290,735	13,872	15,300	31,223	28,594	20,357	6,448	3,767	7,110	18,185	62,755
Deposits	2,420,709	42,190	1,562,052	64,729	37,948	133,606	44,148	114,756	10,533	7,549	21,903	48,695	332,600
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	2,269,985	42,183	1,464,806	64,727	37,945	133,462	44,137	61,474	10,518	7,549	21,902	48,689	332,592
U.S. Treasury, General Account	63,101	0	63,101	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	82,460	5	29,008	0	0	135	9	53,280	14	0	1	6	1
Deferred availability cash items	783	0	0	0	0	0	59	0	0	725	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,562	37	905	41	50	89	97	54	9	12	19	62	187
Other liabilities and accrued dividends	5,288	178	2,521	201	197	527	332	294	133	138	131	209	428

Total liabilities	4,429,023	104,308	2,341,116	125,836	125,947	271,003	274,075	237,679	63,542	38,227	69,971	192,028	585,289

Capital
Capital paid in	30,595	1,321	9,812	1,645	2,485	6,601	1,771	1,308	340	129	300	395	4,491
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	4,469,618	106,062	2,354,130	128,019	129,247	279,765	276,429	239,406	63,991	38,398	70,368	192,551	591,252

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 29, 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 29, 2017
Federal Reserve notes outstanding	1,663,111
Less: Notes held by F.R. Banks not subject to collateralization	173,328
Federal Reserve notes to be collateralized	1,489,783
Collateral held against Federal Reserve notes	1,489,783
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,473,546
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,246,783
Less: Face value of securities under reverse repurchase agreements	490,201
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,756,582

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