FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, June 14, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	June 14, 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 Jun 13, 2018
	Week ended Jun 13, 2018	Change from week ended
	Week ended Jun 13, 2018	Jun 6, 2018	Jun 14, 2017
Reserve Bank credit	4,281,633	+ 3,040	- 146,179	4,285,282
Securities held outright¹	4,117,388	+ 579	- 130,206	4,120,141
U.S. Treasury securities	2,377,952	+ 126	- 86,887	2,377,998
Bills²	0	0	0	0
Notes and bonds, nominal²	2,242,161	0	- 96,055	2,242,161
Notes and bonds, inflation-indexed²	114,860	0	+ 6,734	114,860
Inflation compensation³	20,931	+ 126	+ 2,435	20,977
Federal agency debt securities²	4,108	- 283	- 4,410	2,409
Mortgage-backed securities⁴	1,735,328	+ 736	- 38,909	1,739,733
Unamortized premiums on securities held outright⁵	150,916	- 207	- 15,864	150,901
Unamortized discounts on securities held outright⁵	-13,989	+ 27	+ 820	-13,985
Repurchase agreements⁶	0	0	0	0
Loans	123	+ 16	+ 51	168
Primary credit	17	0	+ 10	54
Secondary credit	0	0	0	0
Seasonal credit	106	+ 16	+ 41	115
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,713	+ 1	+ 4	1,713
Float	-179	+ 109	+ 145	-216
Central bank liquidity swaps⁸	91	+ 20	+ 55	91
Other Federal Reserve assets⁹	25,571	+ 2,497	- 1,183	26,469
Foreign currency denominated assets¹⁰	21,350	+ 62	+ 631	21,302
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,657	+ 14	+ 713	49,657

Total factors supplying reserve funds	4,368,881	+ 3,116	- 144,835	4,372,482

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 Jun 13, 2018
	Week ended Jun 13, 2018	Change from week ended
	Week ended Jun 13, 2018	Jun 6, 2018	Jun 14, 2017
Currency in circulation¹¹	1,660,963	- 268	+ 106,352	1,661,773
Reverse repurchase agreements¹²	244,085	- 14,830	- 151,637	239,658
Foreign official and international accounts	240,763	- 4,768	+ 3,018	236,633
Others	3,322	- 10,062	- 154,655	3,025
Treasury cash holdings	235	- 8	+ 14	233
Deposits with F.R. Banks, other than reserve balances	360,575	- 9,384	+ 120,918	361,769
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	281,188	- 12,881	+ 127,542	282,968
Foreign official	5,255	- 17	+ 42	5,255
Other¹³	74,132	+ 3,514	- 6,666	73,546
Other liabilities and capital¹⁴	45,754	- 83	- 3,034	46,011

Total factors, other than reserve balances, absorbing reserve funds	2,311,612	- 24,574	+ 72,612	2,309,445

Reserve balances with Federal Reserve Banks	2,057,269	+ 27,690	- 217,447	2,063,038

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 Jun 13, 2018
	Week ended Jun 13, 2018	Change from week ended
	Week ended Jun 13, 2018	Jun 6, 2018	Jun 14, 2017
Securities held in custody for foreign official and international accounts	3,401,538	+ 3,242	+ 131,209	3,398,821
Marketable U.S. Treasury securities¹	3,038,558	+ 3,496	+ 92,591	3,033,810
Federal agency debt and mortgage-backed securities²	288,124	+ 138	+ 25,303	290,140
Other securities³	74,856	- 391	+ 13,315	74,870
Securities lent to dealers	21,991	+ 820	- 3,712	21,072
Overnight facility⁴	21,991	+ 820	- 3,712	21,072
U.S. Treasury securities	21,991	+ 820	- 3,711	21,072
Federal agency debt securities	0	0	- 1	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, June 13, 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	79	90	0	0	0	...	168
U.S. Treasury securities¹
Holdings	0	105,886	305,417	1,051,134	296,217	619,344	2,377,998
Weekly changes	0	+ 1	+ 2	+ 19	+ 45	+ 60	+ 126
Federal agency debt securities²
Holdings	0	0	62	0	0	2,347	2,409
Weekly changes	- 1,982	0	0	0	0	0	- 1,982
Mortgage-backed securities³
Holdings	0	0	0	143	40,018	1,699,572	1,739,733
Weekly changes	0	0	0	0	+ 3	+ 5,137	+ 5,140
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	91	0	0	0	0	0	91

Reverse repurchase agreements⁴	239,658	0	...	...	...	...	239,658
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	Jun 13, 2018
Mortgage-backed securities held outright¹	1,739,733

Commitments to buy mortgage-backed securities²	7,858
Commitments to sell mortgage-backed securities²	59

Cash and cash equivalents³	0

1.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
2.	Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3.	This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Jun 13, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,713

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 Jun 13, 2018	Change since
			Wednesday	Wednesday
			Jun 6, 2018	Jun 14, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,771	+ 6	- 43
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,257,225	+ 3,228	- 150,605
Securities held outright¹		4,120,141	+ 3,285	- 135,428
U.S. Treasury securities		2,377,998	+ 126	- 86,873
Bills²		0	0	0
Notes and bonds, nominal²		2,242,161	0	- 96,055
Notes and bonds, inflation-indexed²		114,860	0	+ 6,734
Inflation compensation³		20,977	+ 126	+ 2,449
Federal agency debt securities²		2,409	- 1,982	- 5,688
Mortgage-backed securities⁴		1,739,733	+ 5,140	- 42,868
Unamortized premiums on securities held outright⁵		150,901	- 126	- 16,080
Unamortized discounts on securities held outright⁵		-13,985	+ 21	+ 813
Repurchase agreements⁶		0	0	0
Loans		168	+ 49	+ 91
Net portfolio holdings of Maiden Lane LLC⁷		1,713	0	+ 4
Items in process of collection	(0)	98	+ 19	+ 33
Bank premises		2,188	+ 1	- 9
Central bank liquidity swaps⁸		91	+ 21	+ 55
Foreign currency denominated assets⁹		21,302	- 25	+ 433
Other assets¹⁰		24,281	+ 2,465	- 1,231

Total assets	(0)	4,324,906	+ 5,715	- 151,363

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 Jun 13, 2018	Change since
			Wednesday	Wednesday
			Jun 6, 2018	Jun 14, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,614,115	- 652	+ 105,554
Reverse repurchase agreements¹¹		239,658	- 20,935	- 166,412
Deposits	(0)	2,424,807	+ 26,962	- 87,638
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,063,038	+ 31,073	- 168,166
U.S. Treasury, General Account		282,968	- 6,486	+ 119,027
Foreign official		5,255	- 5	+ 3
Other¹²	(0)	73,546	+ 2,380	- 38,501
Deferred availability cash items	(0)	314	+ 4	- 430
Other liabilities and accrued dividends¹³		6,436	+ 227	- 1,173

Total liabilities	(0)	4,285,331	+ 5,606	- 150,099

Capital accounts
Capital paid in		32,076	+ 109	+ 1,236
Surplus		7,500	0	- 2,500
Other capital accounts		0	0	0

Total capital		39,576	+ 109	- 1,264

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, June 13, 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	364	3,626	350	544	773	1,491	739	334	199	307	905	1,405
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,771	42	48	173	114	251	182	290	25	48	103	190	305
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,257,225	81,305	2,350,226	107,482	120,689	251,916	255,581	228,024	56,712	35,562	67,018	176,028	526,682
Securities held outright¹	4,120,141	78,690	2,274,637	104,025	116,807	243,814	247,319	220,666	54,853	34,383	64,861	170,367	509,720
U.S. Treasury securities	2,377,998	45,417	1,312,839	60,039	67,417	140,721	142,744	127,360	31,659	19,844	37,435	98,330	294,192
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,377,998	45,417	1,312,839	60,039	67,417	140,721	142,744	127,360	31,659	19,844	37,435	98,330	294,192
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,739,733	33,227	960,468	43,925	49,322	102,951	104,431	93,176	23,162	14,518	27,388	71,938	215,230
Unamortized premiums on securities held outright⁵	150,901	2,882	83,309	3,810	4,278	8,930	9,058	8,082	2,009	1,259	2,376	6,240	18,669
Unamortized discounts on securities held outright⁵	-13,985	-267	-7,721	-353	-396	-828	-839	-749	-186	-117	-220	-578	-1,730
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	168	0	0	0	0	0	44	25	37	37	2	0	24
Net portfolio holdings of Maiden
Lane LLC⁷	1,713	0	1,713	0	0	0	0	0	0	0	0	0	0
Items in process of collection	98	0	0	0	0	0	97	0	0	0	0	0	0
Bank premises	2,188	110	443	74	119	197	202	199	107	95	234	220	190
Central bank liquidity swaps⁸	91	4	29	5	7	20	5	4	1	0	1	1	13
Foreign currency denominated
assets⁹	21,302	906	6,716	1,210	1,719	4,601	1,231	903	307	98	211	264	3,135
Other assets¹⁰	24,281	489	12,864	607	694	1,639	1,451	1,271	533	273	443	1,045	2,971
Interdistrict settlement account	0	- 323	+ 60,047	- 7,412	- 3,985	- 713	+ 22,075	- 12,103	- 1,439	- 1,574	- 7,195	- 6,032	- 41,344

Total assets	4,324,906	83,094	2,437,529	102,699	120,138	259,095	282,971	219,750	56,731	34,791	61,274	172,902	493,931

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, June 13, 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	1,786,435	59,253	605,217	54,044	87,633	125,443	255,466	113,441	52,047	30,413	47,121	138,619	217,739
Less: Notes held by F.R. Banks	172,320	6,023	42,702	6,635	9,517	14,009	26,559	11,980	5,326	3,170	5,628	15,978	24,793
Federal Reserve notes, net	1,614,115	53,230	562,515	47,409	78,116	111,433	228,907	101,461	46,721	27,243	41,493	122,641	192,946
Reverse repurchase agreements¹¹	239,658	4,577	132,310	6,051	6,794	14,182	14,386	12,836	3,191	2,000	3,773	9,910	29,649
Deposits	2,424,807	23,412	1,727,435	46,695	31,795	124,323	36,830	103,397	6,046	4,989	15,443	39,546	264,894
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	2,063,038	23,381	1,417,533	46,692	31,728	123,846	36,793	52,357	6,041	4,938	15,425	39,416	264,886
U.S. Treasury, General Account	282,968	0	282,968	0	0	0	0	0	0	0	0	0	0
Foreign official	5,255	2	5,227	2	3	9	2	2	1	0	0	0	6
Other¹²	73,546	29	21,707	1	64	469	34	51,038	5	51	18	130	2
Deferred availability cash items	314	0	0	0	0	0	101	0	0	213	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,521	28	780	37	49	85	120	81	25	15	37	78	185
Other liabilities and accrued dividends	4,915	185	1,915	213	225	566	354	322	151	151	146	239	448

Total liabilities	4,285,331	81,432	2,424,955	100,404	116,981	250,590	280,699	218,096	56,134	34,611	60,892	172,414	488,122

Capital
Capital paid in	32,076	1,343	10,210	1,868	2,552	6,885	1,838	1,337	488	145	308	396	4,705
Surplus	7,500	319	2,364	426	605	1,620	433	318	108	34	74	93	1,104
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,324,906	83,094	2,437,529	102,699	120,138	259,095	282,971	219,750	56,731	34,791	61,274	172,902	493,931

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, June 13, 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 $7.5 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	Jun 13, 2018
Federal Reserve notes outstanding	1,786,435
Less: Notes held by F.R. Banks not subject to collateralization	172,320
Federal Reserve notes to be collateralized	1,614,115
Collateral held against Federal Reserve notes	1,614,115
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,597,879
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,120,141
Less: Face value of securities under reverse repurchase agreements	233,727
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,886,413

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