FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, January 11, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	January 11, 2018

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 10, 2018
	Week ended Jan 10, 2018	Change from week ended
	Week ended Jan 10, 2018	Jan 3, 2018	Jan 11, 2017
Reserve Bank credit	4,405,234	- 2,400	- 8,409	4,406,127
Securities held outright¹	4,217,529	- 4,285	- 3,606	4,217,530
U.S. Treasury securities	2,448,209	- 4,286	- 15,355	2,448,209
Bills²	0	0	0	0
Notes and bonds, nominal²	2,318,404	- 4,286	- 20,699	2,318,404
Notes and bonds, inflation-indexed²	110,134	0	+ 3,437	110,134
Inflation compensation³	19,671	0	+ 1,907	19,671
Federal agency debt securities²	4,391	0	- 11,789	4,391
Mortgage-backed securities⁴	1,764,929	0	+ 23,537	1,764,930
Unamortized premiums on securities held outright⁵	158,478	- 271	- 14,130	158,401
Unamortized discounts on securities held outright⁵	-14,127	- 9	+ 937	-14,116
Repurchase agreements⁶	0	0	0	0
Loans	34	- 83	+ 29	109
Primary credit	30	- 67	+ 27	107
Secondary credit	0	0	0	0
Seasonal credit	4	- 17	+ 2	2
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,713	0	+ 7	1,715
Float	-216	+ 518	+ 152	-289
Central bank liquidity swaps⁸	12,067	+ 8	+ 9,336	12,067
Other Federal Reserve assets⁹	29,755	+ 1,721	- 1,134	30,711
Foreign currency denominated assets¹⁰	21,376	- 47	+ 1,808	21,421
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,396	+ 14	+ 841	49,396

Total factors supplying reserve funds	4,492,248	- 2,431	- 5,759	4,493,186

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 10, 2018
	Week ended Jan 10, 2018	Change from week ended
	Week ended Jan 10, 2018	Jan 3, 2018	Jan 11, 2017
Currency in circulation¹¹	1,614,585	- 3,427	+ 109,161	1,612,650
Reverse repurchase agreements¹²	312,786	- 177,220	- 142,066	298,290
Foreign official and international accounts	249,074	+ 2,703	- 6,842	240,336
Others	63,713	- 179,922	- 135,223	57,954
Treasury cash holdings	225	+ 9	+ 48	225
Deposits with F.R. Banks, other than reserve balances	284,803	- 7,903	- 137,414	276,897
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	206,215	- 5,351	- 166,277	198,573
Foreign official	5,255	0	+ 50	5,253
Other¹³	73,332	- 2,552	+ 28,812	73,072
Other liabilities and capital¹⁴	46,952	- 857	- 208	47,230

Total factors, other than reserve balances, absorbing reserve funds	2,259,351	- 189,398	- 170,478	2,235,292

Reserve balances with Federal Reserve Banks	2,232,897	+ 186,967	+ 164,719	2,257,894

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, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. 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 10, 2018
	Week ended Jan 10, 2018	Change from week ended
	Week ended Jan 10, 2018	Jan 3, 2018	Jan 11, 2017
Securities held in custody for foreign official and international accounts	3,351,565	- 4,193	+ 169,814	3,358,298
Marketable U.S. Treasury securities¹	3,011,206	- 3,986	+ 149,529	3,017,693
Federal agency debt and mortgage-backed securities²	261,970	- 772	+ 1,250	261,840
Other securities³	78,390	+ 566	+ 19,036	78,765
Securities lent to dealers	22,651	- 2,541	+ 5,572	20,094
Overnight facility⁴	22,651	- 2,541	+ 5,572	20,094
U.S. Treasury securities	22,651	- 2,541	+ 5,620	20,094
Federal agency debt securities	0	0	- 48	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, January 10, 2018

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	107	2	0	0	0	...	109
U.S. Treasury securities¹
Holdings	3,098	107,658	315,420	1,085,113	314,035	622,884	2,448,209
Weekly changes	0	0	0	0	0	0	+ 1
Federal agency debt securities²
Holdings	0	0	1,982	62	0	2,347	4,391
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	177	27,007	1,737,745	1,764,930
Weekly changes	0	0	0	0	0	+ 1	+ 1
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	12,067	0	0	0	0	0	12,067

Reverse repurchase agreements⁴	298,290	0	...	...	...	...	298,290
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 10, 2018
Mortgage-backed securities held outright¹	1,764,930

Commitments to buy mortgage-backed securities²	28,034
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	5

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 10, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,715

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 Jan 10, 2018	Change since
			Wednesday	Wednesday
			Jan 3, 2018	Jan 11, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,902	+ 7	+ 12
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,361,924	- 142	- 16,672
Securities held outright¹		4,217,530	+ 2	- 3,595
U.S. Treasury securities		2,448,209	+ 1	- 15,339
Bills²		0	0	0
Notes and bonds, nominal²		2,318,404	0	- 20,699
Notes and bonds, inflation-indexed²		110,134	0	+ 3,437
Inflation compensation³		19,671	+ 1	+ 1,923
Federal agency debt securities²		4,391	0	- 11,789
Mortgage-backed securities⁴		1,764,930	+ 1	+ 23,532
Unamortized premiums on securities held outright⁵		158,401	- 239	- 14,119
Unamortized discounts on securities held outright⁵		-14,116	+ 30	+ 938
Repurchase agreements⁶		0	0	0
Loans		109	+ 65	+ 104
Net portfolio holdings of Maiden Lane LLC⁷		1,715	+ 2	+ 11
Items in process of collection	(0)	85	- 84	- 13
Bank premises		2,204	+ 1	+ 1
Central bank liquidity swaps⁸		12,067	0	+ 9,441
Foreign currency denominated assets⁹		21,421	- 19	+ 1,916
Other assets¹⁰		28,507	+ 2,580	- 1,144

Total assets	(0)	4,446,062	+ 2,344	- 6,447

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 10, 2018	Change since
			Wednesday	Wednesday
			Jan 3, 2018	Jan 11, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,565,377	- 5,895	+ 107,776
Reverse repurchase agreements¹¹		298,290	- 85,700	- 116,635
Deposits	(0)	2,534,791	+ 93,528	+ 2,720
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,257,894	+ 63,243	+ 146,967
U.S. Treasury, General Account		198,573	+ 28,616	- 170,437
Foreign official		5,253	0	+ 87
Other¹²	(0)	73,072	+ 1,670	+ 26,104
Deferred availability cash items	(0)	374	+ 49	- 312
Other liabilities and accrued dividends¹³		5,844	+ 363	- 936

Total liabilities	(0)	4,404,677	+ 2,347	- 7,386

Capital accounts
Capital paid in		31,385	- 2	+ 938
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		41,385	- 2	+ 938

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, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. 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 10, 2018

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	1,902	47	46	188	147	270	199	302	35	53	109	201	304
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,361,924	85,004	2,456,105	112,620	126,489	255,561	256,752	183,487	58,164	34,009	61,861	174,667	557,206
Securities held outright¹	4,217,530	82,173	2,374,857	108,895	122,305	247,107	248,259	177,384	56,240	32,882	59,814	168,840	538,774
U.S. Treasury securities	2,448,209	47,700	1,378,567	63,212	70,996	143,442	144,111	102,969	32,646	19,087	34,721	98,009	312,750
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,448,209	47,700	1,378,567	63,212	70,996	143,442	144,111	102,969	32,646	19,087	34,721	98,009	312,750
Federal agency debt securities²	4,391	86	2,473	113	127	257	258	185	59	34	62	176	561
Mortgage-backed securities⁴	1,764,930	34,387	993,818	45,570	51,181	103,408	103,890	74,231	23,535	13,760	25,031	70,655	225,463
Unamortized premiums on securities held outright⁵	158,401	3,086	89,194	4,090	4,593	9,281	9,324	6,662	2,112	1,235	2,246	6,341	20,235
Unamortized discounts on securities held outright⁵	-14,116	-275	-7,948	-364	-409	-827	-831	-594	-188	-110	-200	-565	-1,803
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	109	20	2	0	0	0	0	34	0	2	0	50	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,715	0	1,715	0	0	0	0	0	0	0	0	0	0
Items in process of collection	85	0	0	0	0	0	84	0	0	1	0	0	0
Bank premises	2,204	114	446	72	122	197	204	203	109	88	236	219	193
Central bank liquidity swaps⁸	12,067	523	3,864	649	983	2,608	704	505	132	51	117	154	1,777
Foreign currency denominated
assets⁹	21,421	929	6,861	1,152	1,745	4,629	1,249	897	234	90	208	274	3,154
Other assets¹⁰	28,507	595	15,585	733	840	1,874	1,708	1,202	466	239	472	1,179	3,615
Interdistrict settlement account	0	+ 2,966	- 22,416	- 4,964	- 5,233	+ 9,725	+ 11,052	+ 41,746	- 1,586	+ 1,653	+ 6,527	- 936	- 38,533

Total assets	4,446,062	90,724	2,467,615	111,007	125,881	276,052	274,128	229,503	58,045	36,464	69,976	176,955	529,712

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 10, 2018 (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	1,748,224	57,333	580,586	54,162	83,643	119,273	244,081	115,892	52,284	31,132	47,947	140,672	221,220
Less: Notes held by F.R. Banks	182,847	6,287	47,239	6,595	9,693	14,396	25,148	11,737	5,593	3,434	6,064	18,202	28,459
Federal Reserve notes, net	1,565,377	51,046	533,347	47,567	73,950	104,876	218,933	104,155	46,692	27,698	41,883	122,470	192,761
Reverse repurchase agreements¹¹	298,290	5,812	167,965	7,702	8,650	17,477	17,558	12,546	3,978	2,326	4,230	11,941	38,105
Deposits	2,534,791	31,920	1,750,486	53,201	39,705	144,211	34,750	110,723	6,659	5,825	23,312	41,758	292,241
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	2,257,894	31,913	1,527,074	53,199	39,702	144,048	34,741	57,438	6,652	5,825	23,310	41,757	292,234
U.S. Treasury, General Account	198,573	0	198,573	0	0	0	0	0	0	0	0	0	0
Foreign official	5,253	2	5,226	2	3	9	2	2	0	0	0	1	6
Other¹²	73,072	5	19,613	0	0	154	7	53,284	6	0	1	1	1
Deferred availability cash items	374	0	0	0	0	0	89	0	0	285	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,471	29	795	37	48	76	112	56	25	13	19	72	189
Other liabilities and accrued dividends	4,374	148	1,920	178	180	470	296	276	132	130	124	198	323

Total liabilities	4,404,677	88,955	2,454,512	108,686	122,533	267,110	271,737	227,754	57,485	36,277	69,568	176,440	523,619

Capital
Capital paid in	31,385	1,335	9,901	1,783	2,534	6,781	1,807	1,331	451	144	311	387	4,620
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	4,446,062	90,724	2,467,615	111,007	125,881	276,052	274,128	229,503	58,045	36,464	69,976	176,955	529,712

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 10, 2018 (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, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. 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 10, 2018
Federal Reserve notes outstanding	1,748,224
Less: Notes held by F.R. Banks not subject to collateralization	182,847
Federal Reserve notes to be collateralized	1,565,377
Collateral held against Federal Reserve notes	1,565,377
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,549,140
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,217,530
Less: Face value of securities under reverse repurchase agreements	295,605
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,921,925

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