FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, October 4, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	October 4, 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 Oct 3, 2018
	Week ended Oct 3, 2018	Change from week ended
	Week ended Oct 3, 2018	Sep 26, 2018	Oct 4, 2017
Reserve Bank credit	4,145,764	- 15,611	- 274,353	4,135,597
Securities held outright¹	3,989,250	- 15,050	- 251,102	3,978,394
U.S. Treasury securities	2,305,066	- 8,141	- 160,369	2,294,210
Bills²	100	0	+ 100	100
Notes and bonds, nominal²	2,167,456	- 8,146	- 169,870	2,156,595
Notes and bonds, inflation-indexed²	115,579	0	+ 6,167	115,579
Inflation compensation³	21,931	+ 4	+ 3,234	21,936
Federal agency debt securities²	2,409	0	- 4,348	2,409
Mortgage-backed securities⁴	1,681,775	- 6,909	- 86,385	1,681,775
Unamortized premiums on securities held outright⁵	144,804	- 461	- 17,590	144,710
Unamortized discounts on securities held outright⁵	-13,669	+ 31	+ 768	-13,658
Repurchase agreements⁶	0	0	0	0
Loans	327	- 20	+ 135	397
Primary credit	75	+ 19	+ 72	151
Secondary credit	0	0	0	0
Seasonal credit	252	- 40	+ 63	246
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	7	0	- 1,700	7
Float	-629	- 459	+ 39	-192
Central bank liquidity swaps⁸	74	- 16	- 3,546	74
Other Federal Reserve assets⁹	25,600	+ 364	- 1,356	25,865
Foreign currency denominated assets¹⁰	20,872	- 214	- 293	20,782
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,773	+ 14	+ 598	49,773

Total factors supplying reserve funds	4,232,650	- 15,812	- 274,048	4,222,393

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 Oct 3, 2018
	Week ended Oct 3, 2018	Change from week ended
	Week ended Oct 3, 2018	Sep 26, 2018	Oct 4, 2017
Currency in circulation¹¹	1,686,724	+ 2,159	+ 106,369	1,689,897
Reverse repurchase agreements¹²	256,473	+ 21,229	- 225,292	230,047
Foreign official and international accounts	229,933	+ 7,356	- 7,842	227,093
Others	26,540	+ 13,873	- 217,449	2,954
Treasury cash holdings	215	+ 3	+ 17	220
Deposits with F.R. Banks, other than reserve balances	443,703	- 7,101	+ 195,709	420,888
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	368,007	- 2,024	+ 207,574	350,281
Foreign official	5,256	0	+ 90	5,257
Other¹³	70,440	- 5,077	- 11,956	65,350
Other liabilities and capital¹⁴	43,959	- 1,178	- 3,213	43,754

Total factors, other than reserve balances, absorbing reserve funds	2,431,074	+ 15,112	+ 73,590	2,384,807

Reserve balances with Federal Reserve Banks	1,801,576	- 30,924	- 347,639	1,837,587

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 Oct 3, 2018
	Week ended Oct 3, 2018	Change from week ended
	Week ended Oct 3, 2018	Sep 26, 2018	Oct 4, 2017
Securities held in custody for foreign official and international accounts	3,436,117	- 2,432	+ 69,966	3,440,337
Marketable U.S. Treasury securities¹	3,060,794	- 3,082	+ 21,067	3,064,756
Federal agency debt and mortgage-backed securities²	306,819	+ 1,077	+ 43,834	306,912
Other securities³	68,504	- 426	+ 5,065	68,668
Securities lent to dealers	18,322	- 544	- 5,897	18,407
Overnight facility⁴	18,322	- 544	- 5,897	18,407
U.S. Treasury securities	18,322	- 544	- 5,897	18,407
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, October 3, 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	256	141	0	0	0	...	397
U.S. Treasury securities¹
Holdings	26	101,337	310,595	999,352	265,763	617,137	2,294,210
Weekly changes	- 19,007	+ 18,209	- 5,224	- 11,277	- 1,704	+ 4	- 18,998
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	184	43,603	1,637,988	1,681,775
Weekly changes	0	0	0	+ 28	- 28	+ 12	+ 12
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	74	0	0	0	0	0	74

Reverse repurchase agreements⁴	230,047	0	...	...	...	...	230,047
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	Oct 3, 2018
Mortgage-backed securities held outright¹	1,681,775

Commitments to buy mortgage-backed securities²	6,081
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	6

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	Oct 3, 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 Oct 3, 2018	Change since
			Wednesday	Wednesday
			Sep 26, 2018	Oct 4, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,762	- 4	- 98
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,109,842	- 19,177	- 278,565
Securities held outright¹		3,978,394	- 18,986	- 261,990
U.S. Treasury securities		2,294,210	- 18,998	- 171,257
Bills²		100	0	+ 100
Notes and bonds, nominal²		2,156,595	- 19,007	- 180,731
Notes and bonds, inflation-indexed²		115,579	0	+ 6,167
Inflation compensation³		21,936	+ 8	+ 3,207
Federal agency debt securities²		2,409	0	- 4,348
Mortgage-backed securities⁴		1,681,775	+ 12	- 86,385
Unamortized premiums on securities held outright⁵		144,710	- 258	- 17,568
Unamortized discounts on securities held outright⁵		-13,658	+ 30	+ 774
Repurchase agreements⁶		0	0	0
Loans		397	+ 38	+ 220
Net portfolio holdings of Maiden Lane LLC⁷		7	0	- 1,700
Items in process of collection	(0)	134	- 7	+ 72
Bank premises		2,179	- 10	- 17
Central bank liquidity swaps⁸		74	- 16	- 3,546
Foreign currency denominated assets⁹		20,782	- 295	- 329
Other assets¹⁰		23,686	+ 1,303	- 1,537

Total assets	(0)	4,174,704	- 18,205	- 285,718

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 Oct 3, 2018	Change since
			Wednesday	Wednesday
			Sep 26, 2018	Oct 4, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,642,102	+ 3,887	+ 106,354
Reverse repurchase agreements¹¹		230,047	+ 288	- 179,307
Deposits	(0)	2,258,475	- 21,203	- 208,768
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,837,587	- 287	- 390,931
U.S. Treasury, General Account		350,281	- 16,962	+ 195,662
Foreign official		5,257	+ 2	+ 92
Other¹²	(0)	65,350	- 3,956	- 13,591
Deferred availability cash items	(0)	326	- 214	- 364
Other liabilities and accrued dividends¹³		4,645	- 974	- 1,552

Total liabilities	(0)	4,135,594	- 18,217	- 283,639

Capital accounts
Capital paid in		32,284	+ 11	+ 1,094
Surplus		6,825	0	- 3,175
Other capital accounts		0	0	0

Total capital		39,109	+ 11	- 2,081

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, October 3, 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	1,762	48	43	158	118	245	188	292	32	43	107	200	289
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,109,842	78,486	2,268,733	103,755	116,504	243,181	246,692	220,112	54,842	34,361	64,703	169,926	508,547
Securities held outright¹	3,978,394	75,983	2,196,382	100,446	112,789	235,426	238,810	213,074	52,966	33,200	62,629	164,506	492,184
U.S. Treasury securities	2,294,210	43,817	1,266,582	57,924	65,042	135,762	137,714	122,873	30,544	19,145	36,116	94,865	283,826
Bills²	100	2	55	3	3	6	6	5	1	1	2	4	12
Notes and bonds³	2,294,110	43,815	1,266,527	57,921	65,039	135,757	137,708	122,868	30,542	19,144	36,115	94,861	283,814
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,681,775	32,120	928,470	42,461	47,679	99,521	100,952	90,072	22,390	14,034	26,475	69,541	208,059
Unamortized premiums on securities held outright⁵	144,710	2,764	79,891	3,654	4,103	8,563	8,686	7,750	1,927	1,208	2,278	5,984	17,903
Unamortized discounts on securities held outright⁵	-13,658	-261	-7,540	-345	-387	-808	-820	-732	-182	-114	-215	-565	-1,690
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	397	0	0	0	0	0	16	19	132	68	11	1	150
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	134	0	0	0	0	0	133	0	0	0	0	0	0
Bank premises	2,179	108	443	77	117	195	205	196	106	95	233	218	187
Central bank liquidity swaps⁸	74	3	23	4	6	16	4	3	1	0	1	1	11
Foreign currency denominated
assets⁹	20,782	884	6,553	1,180	1,677	4,489	1,201	881	300	95	206	257	3,058
Other assets¹⁰	23,686	487	12,661	594	686	1,605	1,423	1,248	394	254	431	996	2,908
Interdistrict settlement account	0	+ 3,815	- 4,051	- 4,480	+ 3,184	- 5,452	+ 32,274	- 1,426	+ 2,910	+ 57	- 3,287	+ 8,260	- 31,803

Total assets	4,174,704	84,391	2,289,856	101,849	123,074	245,463	284,266	222,468	59,068	35,195	62,854	181,044	485,176

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, October 3, 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	1,834,789	58,395	611,634	54,713	88,005	125,743	263,805	120,210	55,320	30,377	49,624	149,945	227,018
Less: Notes held by F.R. Banks	192,687	6,151	52,345	7,229	9,214	14,023	29,839	12,927	5,576	3,078	5,708	17,262	29,336
Federal Reserve notes, net	1,642,102	52,244	559,290	47,484	78,792	111,720	233,966	107,282	49,744	27,299	43,917	132,684	197,682
Reverse repurchase agreements¹¹	230,047	4,394	127,004	5,808	6,522	13,613	13,809	12,321	3,063	1,920	3,621	9,512	28,460
Deposits	2,258,475	25,963	1,589,253	46,117	34,435	111,321	33,754	100,918	5,512	5,454	14,786	38,103	252,859
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	1,837,587	25,931	1,215,345	46,114	34,373	110,656	33,718	54,964	5,498	5,402	14,772	37,961	252,852
U.S. Treasury, General Account	350,281	0	350,281	0	0	0	0	0	0	0	0	0	0
Foreign official	5,257	2	5,230	2	3	9	2	2	1	0	0	0	6
Other¹²	65,350	29	18,398	1	59	657	34	45,952	13	52	13	141	2
Deferred availability cash items	326	0	0	0	0	0	132	0	0	194	0	0	0
Earnings remittances due to the U.S. Treasury¹³	535	-6	366	-4	-1	-67	72	37	24	10	10	60	33
Other liabilities and accrued dividends	4,110	163	1,503	188	199	513	301	272	139	142	141	203	346

Total liabilities	4,135,594	82,758	2,277,416	99,593	119,947	237,100	282,034	220,831	58,481	35,018	62,475	180,562	479,380

Capital
Capital paid in	32,284	1,343	10,288	1,868	2,576	6,888	1,837	1,348	489	145	311	398	4,791
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	4,174,704	84,391	2,289,856	101,849	123,074	245,463	284,266	222,468	59,068	35,195	62,854	181,044	485,176

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, October 3, 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	Oct 3, 2018
Federal Reserve notes outstanding	1,834,789
Less: Notes held by F.R. Banks not subject to collateralization	192,687
Federal Reserve notes to be collateralized	1,642,102
Collateral held against Federal Reserve notes	1,642,102
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,625,865
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	3,978,394
Less: Face value of securities under reverse repurchase agreements	231,371
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,747,023

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.

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