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

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	November 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 Nov 8, 2017
	Week ended Nov 8, 2017	Change from week ended
	Week ended Nov 8, 2017	Nov 1, 2017	Nov 9, 2016
Reserve Bank credit	4,418,185	- 2,623	+ 3,457	4,419,083
Securities held outright¹	4,237,314	- 4,140	+ 19,344	4,237,373
U.S. Treasury securities	2,459,927	- 4,143	- 3,702	2,459,985
Bills²	0	0	0	0
Notes and bonds, nominal²	2,331,201	- 4,375	- 9,473	2,331,201
Notes and bonds, inflation-indexed²	109,537	+ 89	+ 4,011	109,537
Inflation compensation³	19,189	+ 143	+ 1,760	19,247
Federal agency debt securities²	6,757	0	- 11,736	6,757
Mortgage-backed securities⁴	1,770,630	+ 3	+ 34,782	1,770,630
Unamortized premiums on securities held outright⁵	161,117	- 255	- 14,386	161,052
Unamortized discounts on securities held outright⁵	-14,292	+ 24	+ 982	-14,281
Repurchase agreements⁶	9	+ 9	+ 9	65
Loans	53	- 52	+ 25	56
Primary credit	1	- 7	0	4
Secondary credit	0	0	0	0
Seasonal credit	52	- 45	+ 25	52
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,712	+ 1	+ 4	1,712
Float	-305	+ 217	+ 51	-412
Central bank liquidity swaps⁸	37	- 3	- 963	37
Other Federal Reserve assets⁹	32,540	+ 1,576	- 1,609	33,481
Foreign currency denominated assets¹⁰	20,875	- 18	- 217	20,866
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,245	+ 14	+ 799	49,245

Total factors supplying reserve funds	4,504,546	- 2,627	+ 4,039	4,505,435

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 Nov 8, 2017
	Week ended Nov 8, 2017	Change from week ended
	Week ended Nov 8, 2017	Nov 1, 2017	Nov 9, 2016
Currency in circulation¹¹	1,590,150	+ 4,751	+ 103,726	1,591,737
Reverse repurchase agreements¹²	290,532	- 60,776	- 79,656	301,136
Foreign official and international accounts	226,905	- 13,111	- 8,285	226,590
Others	63,626	- 47,665	- 71,372	74,546
Treasury cash holdings	229	+ 12	+ 43	223
Deposits with F.R. Banks, other than reserve balances	263,236	- 16,486	- 156,588	246,454
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	177,780	- 15,766	- 198,437	160,437
Foreign official	5,167	- 1	- 67	5,166
Other¹³	80,289	- 719	+ 41,917	80,851
Other liabilities and capital¹⁴	48,471	+ 1,159	+ 256	48,275

Total factors, other than reserve balances, absorbing reserve funds	2,192,617	- 71,341	- 132,219	2,187,825

Reserve balances with Federal Reserve Banks	2,311,929	+ 68,714	+ 136,259	2,317,610

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 securities, Federal agency debt securities, and 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 Nov 8, 2017
	Week ended Nov 8, 2017	Change from week ended
	Week ended Nov 8, 2017	Nov 1, 2017	Nov 9, 2016
Securities held in custody for foreign official and international accounts	3,373,347	+ 7,589	+ 261,971	3,371,228
Marketable U.S. Treasury securities¹	3,045,632	+ 7,057	+ 254,647	3,042,790
Federal agency debt and mortgage-backed securities²	262,651	+ 151	+ 2,790	262,651
Other securities³	65,065	+ 381	+ 4,535	65,787
Securities lent to dealers	25,253	- 85	+ 4,791	24,239
Overnight facility⁴	25,253	- 85	+ 4,791	24,239
U.S. Treasury securities	25,253	- 85	+ 4,817	24,239
Federal agency debt securities	0	0	- 26	0

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, November 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	10	46	0	0	0	...	56
U.S. Treasury securities¹
Holdings	11,043	56,307	317,797	1,111,537	329,680	633,622	2,459,985
Weekly changes	0	+ 27,851	- 27,846	+ 24	+ 36	+ 93	+ 158
Federal agency debt securities²
Holdings	2,366	0	1,982	62	0	2,347	6,757
Weekly changes	+ 2,366	- 2,366	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	134	20,733	1,749,762	1,770,630
Weekly changes	0	0	0	+ 2	+ 3,656	- 3,658	0
Repurchase agreements⁴	65	0	...	...	...	...	65
Central bank liquidity swaps⁵	37	0	0	0	0	0	37

Reverse repurchase agreements⁴	301,136	0	...	...	...	...	301,136
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	Nov 8, 2017
Mortgage-backed securities held outright¹	1,770,630

Commitments to buy mortgage-backed securities²	27,993
Commitments to sell mortgage-backed securities²	20

Cash and cash equivalents³	3

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	Nov 8, 2017
Net portfolio holdings of Maiden Lane LLC¹	1,712

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. Assets are revalued quarterly.
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 Nov 8, 2017	Change since
			Wednesday	Wednesday
			Nov 1, 2017	Nov 9, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,845	+ 13	- 33
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,384,265	+ 34	+ 6,099
Securities held outright¹		4,237,373	+ 159	+ 19,378
U.S. Treasury securities		2,459,985	+ 158	- 3,669
Bills²		0	0	0
Notes and bonds, nominal²		2,331,201	0	- 9,473
Notes and bonds, inflation-indexed²		109,537	0	+ 4,011
Inflation compensation³		19,247	+ 159	+ 1,793
Federal agency debt securities²		6,757	0	- 11,736
Mortgage-backed securities⁴		1,770,630	0	+ 34,782
Unamortized premiums on securities held outright⁵		161,052	- 222	- 14,350
Unamortized discounts on securities held outright⁵		-14,281	+ 29	+ 982
Repurchase agreements⁶		65	+ 65	+ 65
Loans		56	+ 4	+ 24
Net portfolio holdings of Maiden Lane LLC⁷		1,712	0	+ 4
Items in process of collection	(0)	109	+ 43	+ 4
Bank premises		2,201	+ 2	+ 1
Central bank liquidity swaps⁸		37	- 3	- 963
Foreign currency denominated assets⁹		20,866	+ 1	- 9
Other assets¹⁰		31,280	+ 2,575	- 1,638

Total assets	(0)	4,458,552	+ 2,665	+ 3,465

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 Nov 8, 2017	Change since
			Wednesday	Wednesday
			Nov 1, 2017	Nov 9, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,544,556	+ 2,462	+ 101,172
Reverse repurchase agreements¹¹		301,136	- 18,800	- 62,213
Deposits	(0)	2,564,064	+ 17,776	- 36,655
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,317,610	+ 36,138	+ 127,528
U.S. Treasury, General Account		160,437	- 21,327	- 205,017
Foreign official		5,166	- 11	- 351
Other¹²	(0)	80,851	+ 2,976	+ 41,185
Deferred availability cash items	(0)	521	+ 18	- 122
Other liabilities and accrued dividends¹³		7,038	+ 1,188	+ 292

Total liabilities	(0)	4,417,315	+ 2,645	+ 2,474

Capital accounts
Capital paid in		31,237	+ 20	+ 991
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		41,237	+ 20	+ 991

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 securities, Federal agency debt securities, and 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, November 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	349	3,592	348	553	776	1,520	737	341	191	292	916	1,422
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,845	45	48	178	139	268	197	294	35	51	105	189	295
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,384,265	85,421	2,468,712	113,198	127,139	256,873	258,071	184,404	58,468	34,200	62,193	175,518	560,068
Securities held outright¹	4,237,373	82,560	2,386,030	109,407	122,880	248,270	249,427	178,218	56,504	33,037	60,096	169,635	541,308
U.S. Treasury securities	2,459,985	47,930	1,385,198	63,516	71,337	144,132	144,804	103,464	32,803	19,179	34,888	98,481	314,254
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,459,985	47,930	1,385,198	63,516	71,337	144,132	144,804	103,464	32,803	19,179	34,888	98,481	314,254
Federal agency debt securities²	6,757	132	3,805	174	196	396	398	284	90	53	96	271	863
Mortgage-backed securities⁴	1,770,630	34,498	997,028	45,717	51,347	103,742	104,226	74,470	23,611	13,805	25,112	70,884	226,191
Unamortized premiums on securities held outright⁵	161,052	3,138	90,687	4,158	4,670	9,436	9,480	6,774	2,148	1,256	2,284	6,447	20,574
Unamortized discounts on securities held outright⁵	-14,281	-278	-8,042	-369	-414	-837	-841	-601	-190	-111	-203	-572	-1,824
Repurchase agreements⁶	65	1	37	2	2	4	4	3	1	1	1	3	8
Loans	56	0	0	0	1	0	0	10	6	18	15	5	2
Net portfolio holdings of Maiden
Lane LLC⁷	1,712	0	1,712	0	0	0	0	0	0	0	0	0	0
Items in process of collection	109	0	0	0	0	0	108	0	0	0	0	0	0
Bank premises	2,201	116	442	72	124	197	203	202	110	88	236	219	192
Central bank liquidity swaps⁸	37	2	12	2	3	8	2	2	0	0	0	0	5
Foreign currency denominated
assets⁹	20,866	905	6,683	1,122	1,700	4,509	1,217	873	228	88	203	267	3,072
Other assets¹⁰	31,280	657	17,157	802	918	2,009	1,868	1,318	514	264	516	1,288	3,969
Interdistrict settlement account	0	- 6,951	- 32,709	- 150	- 5,347	+ 331	+ 784	+ 50,057	- 169	+ 2,868	+ 6,358	+ 4,990	- 20,061

Total assets	4,458,552	80,739	2,467,467	115,783	125,466	265,383	264,624	238,311	59,677	37,841	70,056	183,668	549,537

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, November 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	1,731,624	56,461	571,482	54,791	84,637	120,603	233,415	116,756	52,204	31,171	48,282	141,858	219,963
Less: Notes held by F.R. Banks	187,068	6,580	52,323	6,534	9,696	13,422	26,589	12,003	5,366	3,242	5,654	17,986	27,672
Federal Reserve notes, net	1,544,556	49,881	519,159	48,257	74,940	107,181	206,826	104,754	46,838	27,929	42,628	123,872	192,290
Reverse repurchase agreements¹¹	301,136	5,867	169,567	7,775	8,733	17,644	17,726	12,665	4,016	2,348	4,271	12,055	38,469
Deposits	2,564,064	23,031	1,762,150	57,185	38,178	131,104	37,167	118,777	8,157	6,771	22,584	46,933	312,027
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	2,317,610	23,015	1,575,818	57,183	38,174	130,795	37,159	59,011	8,150	6,771	22,583	46,932	312,021
U.S. Treasury, General Account	160,437	0	160,437	0	0	0	0	0	0	0	0	0	0
Foreign official	5,166	2	5,139	2	3	9	2	2	0	0	0	1	6
Other¹²	80,851	15	20,756	0	0	300	7	59,765	6	0	1	0	1
Deferred availability cash items	521	0	0	0	0	0	65	0	0	455	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,674	26	960	39	54	61	115	64	25	13	24	75	218
Other liabilities and accrued dividends	5,365	164	2,545	206	212	527	328	301	148	139	142	216	437

Total liabilities	4,417,315	78,970	2,454,381	113,462	122,117	256,517	262,228	236,561	59,183	37,655	69,648	183,151	543,442

Capital
Capital paid in	31,237	1,336	9,884	1,783	2,534	6,706	1,813	1,331	384	143	311	390	4,623
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	4,458,552	80,739	2,467,467	115,783	125,466	265,383	264,624	238,311	59,677	37,841	70,056	183,668	549,537

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, November 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 securities, Federal agency debt securities, and 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	Nov 8, 2017
Federal Reserve notes outstanding	1,731,624
Less: Notes held by F.R. Banks not subject to collateralization	187,068
Federal Reserve notes to be collateralized	1,544,556
Collateral held against Federal Reserve notes	1,544,556
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,528,319
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,237,438
Less: Face value of securities under reverse repurchase agreements	290,903
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,946,534

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