FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, September 27, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	September 27, 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 Sep 26, 2018
	Week ended Sep 26, 2018	Change from week ended
	Week ended Sep 26, 2018	Sep 19, 2018	Sep 27, 2017
Reserve Bank credit	4,161,375	- 11,860	- 262,398	4,153,289
Securities held outright¹	4,004,300	- 9,835	- 242,895	3,997,380
U.S. Treasury securities	2,313,207	+ 2	- 152,227	2,313,208
Bills²	100	0	+ 100	100
Notes and bonds, nominal²	2,175,602	0	- 161,724	2,175,602
Notes and bonds, inflation-indexed²	115,579	0	+ 6,167	115,579
Inflation compensation³	21,927	+ 2	+ 3,231	21,928
Federal agency debt securities²	2,409	0	- 4,348	2,409
Mortgage-backed securities⁴	1,688,684	- 9,836	- 86,320	1,681,763
Unamortized premiums on securities held outright⁵	145,265	- 621	- 17,597	144,968
Unamortized discounts on securities held outright⁵	-13,700	+ 32	+ 761	-13,688
Repurchase agreements⁶	0	0	0	0
Loans	347	+ 43	+ 114	359
Primary credit	56	+ 16	+ 49	64
Secondary credit	0	0	0	0
Seasonal credit	292	+ 28	+ 66	295
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	7	- 1,223	- 1,701	7
Float	-170	- 9	+ 137	-399
Central bank liquidity swaps⁸	90	- 10	+ 53	90
Other Federal Reserve assets⁹	25,236	- 236	- 1,270	24,572
Foreign currency denominated assets¹⁰	21,086	+ 42	- 220	21,077
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,785	+ 14	+ 628	49,785

Total factors supplying reserve funds	4,248,487	- 11,804	- 261,990	4,240,392

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 Sep 26, 2018
	Week ended Sep 26, 2018	Change from week ended
	Week ended Sep 26, 2018	Sep 19, 2018	Sep 27, 2017
Currency in circulation¹¹	1,684,591	- 589	+ 105,645	1,686,023
Reverse repurchase agreements¹²	235,244	+ 3,964	- 172,439	229,759
Foreign official and international accounts	222,577	- 5,063	- 16,941	224,134
Others	12,667	+ 9,027	- 155,498	5,625
Treasury cash holdings	212	+ 4	+ 25	214
Deposits with F.R. Banks, other than reserve balances	450,804	+ 31,753	+ 187,765	441,804
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	370,031	+ 34,153	+ 205,379	367,243
Foreign official	5,256	0	+ 61	5,255
Other¹³	75,517	- 2,400	- 17,675	69,306
Other liabilities and capital¹⁴	45,137	+ 462	- 2,776	44,717

Total factors, other than reserve balances, absorbing reserve funds	2,415,987	+ 35,592	+ 118,219	2,402,518

Reserve balances with Federal Reserve Banks	1,832,500	- 47,396	- 380,209	1,837,874

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 Sep 26, 2018
	Week ended Sep 26, 2018	Change from week ended
	Week ended Sep 26, 2018	Sep 19, 2018	Sep 27, 2017
Securities held in custody for foreign official and international accounts	3,438,549	+ 12,473	+ 66,684	3,436,081
Marketable U.S. Treasury securities¹	3,063,876	+ 12,303	+ 17,453	3,062,390
Federal agency debt and mortgage-backed securities²	305,742	+ 302	+ 43,540	305,625
Other securities³	68,930	- 132	+ 5,689	68,066
Securities lent to dealers	18,866	+ 3,022	- 5,413	17,672
Overnight facility⁴	18,866	+ 3,022	- 5,413	17,672
U.S. Treasury securities	18,866	+ 3,022	- 5,413	17,672
Federal agency debt securities	0	0	0	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, September 26, 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	346	13	0	0	0	...	359
U.S. Treasury securities¹
Holdings	19,033	83,128	315,819	1,010,629	267,467	617,133	2,313,208
Weekly changes	+ 26	- 26	0	0	+ 1	+ 1	+ 2
Federal agency debt securities²
Holdings	0	0	62	0	0	2,347	2,409
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	156	43,631	1,637,976	1,681,763
Weekly changes	0	0	0	+ 2	- 781	- 12,680	- 13,460
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	90	0	0	0	0	0	90

Reverse repurchase agreements⁴	229,759	0	...	...	...	...	229,759
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	Sep 26, 2018
Mortgage-backed securities held outright¹	1,681,763

Commitments to buy mortgage-backed securities²	4,350
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	50

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	Sep 26, 2018
Net portfolio holdings of Maiden Lane LLC¹	7

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 Sep 26, 2018	Change since
			Wednesday	Wednesday
			Sep 19, 2018	Sep 27, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,766	+ 2	- 83
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,129,019	- 14,235	- 259,663
Securities held outright¹		3,997,380	- 13,458	- 242,964
U.S. Treasury securities		2,313,208	+ 2	- 152,219
Bills²		100	0	+ 100
Notes and bonds, nominal²		2,175,602	0	- 161,724
Notes and bonds, inflation-indexed²		115,579	0	+ 6,167
Inflation compensation³		21,928	+ 3	+ 3,239
Federal agency debt securities²		2,409	0	- 4,348
Mortgage-backed securities⁴		1,681,763	- 13,460	- 86,397
Unamortized premiums on securities held outright⁵		144,968	- 726	- 17,585
Unamortized discounts on securities held outright⁵		-13,688	+ 32	+ 760
Repurchase agreements⁶		0	0	0
Loans		359	- 83	+ 126
Net portfolio holdings of Maiden Lane LLC⁷		7	0	- 1,700
Items in process of collection	(0)	141	+ 7	+ 79
Bank premises		2,189	+ 7	- 8
Central bank liquidity swaps⁸		90	- 10	+ 53
Foreign currency denominated assets⁹		21,077	+ 28	- 26
Other assets¹⁰		22,383	- 949	- 1,404

Total assets	(0)	4,192,909	- 15,150	- 262,752

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 Sep 26, 2018	Change since
			Wednesday	Wednesday
			Sep 19, 2018	Sep 27, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,638,215	+ 256	+ 105,091
Reverse repurchase agreements¹¹		229,759	- 4,577	- 225,314
Deposits	(0)	2,279,678	- 11,556	- 139,809
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,837,874	+ 15,156	- 340,967
U.S. Treasury, General Account		367,243	- 32,276	+ 212,084
Foreign official		5,255	- 1	- 115
Other¹²	(0)	69,306	+ 5,565	- 10,811
Deferred availability cash items	(0)	540	+ 260	- 199
Other liabilities and accrued dividends¹³		5,619	+ 427	- 433

Total liabilities	(0)	4,153,811	- 15,191	- 260,665

Capital accounts
Capital paid in		32,273	+ 42	+ 1,087
Surplus		6,825	0	- 3,175
Other capital accounts		0	0	0

Total capital		39,098	+ 42	- 2,088

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, September 26, 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	1,766	45	43	160	120	243	190	293	30	44	107	201	289
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,129,019	78,855	2,279,340	104,240	117,049	244,318	247,848	221,201	55,112	34,553	65,004	170,720	510,778
Securities held outright¹	3,997,380	76,346	2,206,864	100,925	113,327	236,550	239,950	214,091	53,218	33,358	62,928	165,291	494,532
U.S. Treasury securities	2,313,208	44,180	1,277,070	58,404	65,580	136,887	138,854	123,890	30,796	19,304	36,415	95,651	286,177
Bills²	100	2	55	3	3	6	6	5	1	1	2	4	12
Notes and bonds³	2,313,108	44,178	1,277,015	58,401	65,577	136,881	138,848	123,885	30,795	19,303	36,414	95,647	286,164
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,681,763	32,120	928,464	42,461	47,679	99,520	100,951	90,072	22,390	14,034	26,475	69,541	208,058
Unamortized premiums on securities held outright⁵	144,968	2,769	80,034	3,660	4,110	8,579	8,702	7,764	1,930	1,210	2,282	5,994	17,935
Unamortized discounts on securities held outright⁵	-13,688	-261	-7,557	-346	-388	-810	-822	-733	-182	-114	-215	-566	-1,693
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	359	2	0	0	0	0	18	79	145	99	9	1	5
Net portfolio holdings of Maiden
Lane LLC⁷	7	0	7	0	0	0	0	0	0	0	0	0	0
Items in process of collection	141	0	0	0	0	0	141	0	0	0	0	0	0
Bank premises	2,189	109	449	77	117	194	205	196	106	95	233	219	188
Central bank liquidity swaps⁸	90	4	28	5	7	19	5	4	1	0	1	1	13
Foreign currency denominated
assets⁹	21,077	897	6,645	1,197	1,701	4,553	1,218	893	304	97	209	261	3,102
Other assets¹⁰	22,383	461	11,907	561	644	1,518	1,341	1,180	357	232	415	1,026	2,743
Interdistrict settlement account	0	- 4,884	+ 31,013	- 5,705	+ 2,844	+ 7,337	+ 30,955	- 7,489	+ 1,336	- 413	- 7,007	+ 2,787	- 50,774

Total assets	4,192,909	76,048	2,334,877	101,095	123,264	259,368	284,047	217,441	57,731	34,896	59,423	176,401	468,319

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, September 26, 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	1,829,660	58,442	609,373	54,675	87,775	125,592	263,729	120,067	55,351	30,397	48,898	149,952	225,408
Less: Notes held by F.R. Banks	191,445	6,280	50,404	7,240	9,309	13,807	29,269	13,101	5,670	3,118	5,761	17,748	29,737
Federal Reserve notes, net	1,638,215	52,161	558,969	47,435	78,467	111,784	234,460	106,966	49,681	27,279	43,137	132,204	195,670
Reverse repurchase agreements¹¹	229,759	4,388	126,845	5,801	6,514	13,596	13,792	12,305	3,059	1,917	3,617	9,500	28,424
Deposits	2,279,678	17,666	1,634,368	45,373	34,913	124,989	33,032	96,170	4,261	4,955	12,125	33,942	237,884
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	1,837,874	17,635	1,240,978	45,371	34,850	124,609	32,997	48,483	4,254	4,904	12,109	33,805	237,877
U.S. Treasury, General Account	367,243	0	367,243	0	0	0	0	0	0	0	0	0	0
Foreign official	5,255	2	5,228	2	3	9	2	2	1	0	0	0	6
Other¹²	69,306	29	20,918	1	60	371	33	47,686	6	50	15	136	1
Deferred availability cash items	540	0	0	0	0	0	128	0	0	412	0	0	0
Earnings remittances due to the U.S. Treasury¹³	832	17	394	19	29	79	73	43	4	8	16	47	103
Other liabilities and accrued dividends	4,787	182	1,861	211	213	557	332	322	139	148	152	223	448

Total liabilities	4,153,811	74,414	2,322,437	98,839	120,136	251,005	281,816	215,807	57,143	34,720	59,047	175,917	462,530

Capital
Capital paid in	32,273	1,343	10,288	1,868	2,577	6,888	1,837	1,345	489	145	308	400	4,785
Surplus	6,825	290	2,151	388	551	1,474	394	289	98	31	68	84	1,005
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,192,909	76,048	2,334,877	101,095	123,264	259,368	284,047	217,441	57,731	34,896	59,423	176,401	468,319

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, September 26, 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 $6.825 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	Sep 26, 2018
Federal Reserve notes outstanding	1,829,660
Less: Notes held by F.R. Banks not subject to collateralization	191,445
Federal Reserve notes to be collateralized	1,638,215
Collateral held against Federal Reserve notes	1,638,215
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,621,978
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	3,997,380
Less: Face value of securities under reverse repurchase agreements	231,168
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,766,213

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