Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: October 25, 2018
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 October 25, 2018


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Oct 24, 2018 
Federal Reserve Banks                                     Oct 24, 2018 Oct 17, 2018 Oct 25, 2017              

Reserve Bank credit                                         4,136,629   -    2,589   -  290,991    4,134,059  
  Securities held outright (1)                              3,976,229   -    3,178   -  271,424    3,973,580  
    U.S. Treasury securities                                2,294,215   -       23   -  171,481    2,294,215  
      Bills (2)                                                    60   -       40   +       60           53  
      Notes and bonds, nominal (2)                          2,156,595            0   -  180,731    2,156,595  
      Notes and bonds, inflation-indexed (2)                  115,579            0   +    6,167      115,579  
      Inflation compensation (3)                               21,982   +       18   +    3,025       21,988  
    Federal agency debt securities (2)                          2,409            0   -    4,348        2,409  
    Mortgage-backed securities (4)                          1,679,605   -    3,155   -   95,595    1,676,956  
  Unamortized premiums on securities held outright (5)        143,925   -      387   -   17,825      143,722  
  Unamortized discounts on securities held outright (5)       -13,583   +       30   +      763      -13,572  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           202   +       10   +       58          234  
    Primary credit                                                 16   +        8   +       10           48  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                               186   +        2   +       49          186  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     7            0   -    1,699            7  
  Float                                                          -143   +       87   +      109         -203  
  Central bank liquidity swaps (8)                                 80   -        9   +       43           80  
  Other Federal Reserve assets (9)                             29,911   +      857   -    1,018       30,211  
Foreign currency denominated assets (10)                       20,808   -      121   -      281       20,698  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,815   +       14   +      586       49,815  
                                                                                                              
Total factors supplying reserve funds                       4,223,494   -    2,695   -  290,685    4,220,813  

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                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Oct 24, 2018 
Federal Reserve Banks                                     Oct 24, 2018 Oct 17, 2018 Oct 25, 2017              

Currency in circulation (11)                                 1,689,831   -    1,401   +  106,248    1,690,508 
Reverse repurchase agreements (12)                             227,887   +    8,633   -  108,731      225,937 
  Foreign official and international accounts                  222,724   +    4,313   -    9,666      219,493 
  Others                                                         5,162   +    4,319   -   99,066        6,444 
Treasury cash holdings                                             230   +        3   +       14          230 
Deposits with F.R. Banks, other than reserve balances          442,539   +   25,617   +  140,885      434,191 
  Term deposits held by depository institutions                      0            0   -   14,140            0 
  U.S. Treasury, General Account                               369,576   +   36,653   +  173,244      360,681 
  Foreign official                                               5,256            0   +       48        5,256 
  Other (13)                                                    67,707   -   11,036   -   18,266       68,254 
Other liabilities and capital (14)                              45,398   +      378   -    2,880       44,938 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,405,885   +   33,230   +  135,538    2,395,804 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,817,608   -   35,925   -  426,224    1,825,009 

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  
                                                           Week ended    Change from week ended  Oct 24, 2018 
                                                          Oct 24, 2018 Oct 17, 2018 Oct 25, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,434,257   +      880   +   69,472    3,427,918 
  Marketable U.S. Treasury securities (1)                    3,060,660   +    1,845   +   22,228    3,055,616 
  Federal agency debt and mortgage-backed securities (2)       307,060   -      516   +   45,281      305,631 
  Other securities (3)                                          66,537   -      449   +    1,963       66,672 
Securities lent to dealers                                      15,375   -    1,603   -    8,684       16,125 
  Overnight facility (4)                                        15,375   -    1,603   -    8,684       16,125 
    U.S. Treasury securities                                    15,375   -    1,603   -    8,684       16,125 
    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 24, 2018    

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                          227             7             0             0             0           ...           234 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  23,886        79,515       308,510       999,360       265,781       617,162     2,294,215 
  Weekly changes                        +       53    -      100             0    +        3    +        6    +        8    -       30 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0            62             0             0         2,347         2,409 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             2           194        49,483     1,627,276     1,676,956 
  Weekly changes                                 0             0             0             0             0    -    3,153    -    3,153 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                80             0             0             0             0             0            80 
                                                                                                                                       
Reverse repurchase agreements (4)          225,937             0           ...           ...           ...           ...       225,937 
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   
                                                                                                                      Oct 24, 2018  

Mortgage-backed securities held outright (1)                                                                             1,676,956  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            2,862  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    3  



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




4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Oct 24, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                    7  
                                                                                                                                    
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                        0  
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                             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.         
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     Wednesday         Change since       
                                                             from       Oct 24, 2018   Wednesday    Wednesday  
                                                        consolidation                Oct 17, 2018 Oct 25, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,746   -        1   -       93  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,103,964   -    3,543   -  286,440  
    Securities held outright (1)                                          3,973,580   -    3,183   -  269,468  
      U.S. Treasury securities                                            2,294,215   -       30   -  171,512  
        Bills (2)                                                                53   -       47   +       53  
        Notes and bonds, nominal (2)                                      2,156,595            0   -  180,731  
        Notes and bonds, inflation-indexed (2)                              115,579            0   +    6,167  
        Inflation compensation (3)                                           21,988   +       17   +    2,999  
      Federal agency debt securities (2)                                      2,409            0   -    4,348  
      Mortgage-backed securities (4)                                      1,676,956   -    3,153   -   93,607  
    Unamortized premiums on securities held outright  
    (5)                                                                     143,722   -      415   -   17,818  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,572   +       30   +      761  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       234   +       25   +       85  
  Net portfolio holdings of Maiden Lane LLC (7)                                   7            0   -    1,704  
  Items in process of collection                                   (0)          126   -       20   +       72  
  Bank premises                                                               2,188   +        2   -       13  
  Central bank liquidity swaps (8)                                               80   -        9   +       43  
  Foreign currency denominated assets (9)                                    20,698   -      191   -      396  
  Other assets (10)                                                          28,023   +    1,385   +      484  
                                                                                                               
Total assets                                                       (0)    4,173,070   -    2,376   -  288,047  

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     Wednesday         Change since       
                                                             from       Oct 24, 2018   Wednesday    Wednesday  
                                                        consolidation                Oct 17, 2018 Oct 25, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,642,665   -      986   +  105,789 
  Reverse repurchase agreements (11)                                         225,937   +    5,560   -  121,966 
  Deposits                                                          (0)    2,259,200   -    7,517   -  269,319 
    Term deposits held by depository institutions                                  0            0   -   14,140 
    Other deposits held by depository institutions                         1,825,010   -    6,608   -  416,608 
    U.S. Treasury, General Account                                           360,681   +       43   +  175,589 
    Foreign official                                                           5,256            0   +       90 
    Other (12)                                                      (0)       68,254   -      950   -   14,249 
  Deferred availability cash items                                  (0)          329   +       10   +       11 
  Other liabilities and accrued dividends (13)                                 5,843   +      597   -      432 
                                                                                                               
Total liabilities                                                   (0)    4,133,976   -    2,333   -  285,915 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,269   -       43   +    1,042 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,094   -       43   -    2,133 

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 24, 2018
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 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                                             1,746          46          38          158         118         238         184         289          30          44         108         200         293
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,103,964      78,378   2,265,585      103,611     116,342     242,844     246,353     219,798      54,721      34,310      64,613     169,688     507,721
    Securities held outright (1)               3,973,580      75,891   2,193,724      100,325     112,652     235,141     238,521     212,816      52,901      33,159      62,554     164,307     491,588
      U.S. Treasury securities                 2,294,215      43,817   1,266,584       57,924      65,042     135,763     137,714     122,873      30,544      19,145      36,116      94,865     283,827
        Bills (2)                                     53           1          29            1           2           3           3           3           1           0           1           2           7
        Notes and bonds (3)                    2,294,162      43,816   1,266,555       57,923      65,040     135,760     137,711     122,870      30,543      19,145      36,116      94,863     283,820
      Federal agency debt securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           1,676,956      32,028     925,810       42,340      47,542      99,236     100,662      89,814      22,326      13,994      26,399      69,342     207,463
    Unamortized premiums on securities held 
      outright (5)                               143,722       2,745      79,346        3,629       4,075       8,505       8,627       7,697       1,913       1,199       2,263       5,943      17,780
    Unamortized discounts on securities     
      held outright (5)                          -13,572        -259      -7,493         -343        -385        -803        -815        -727        -181        -113        -214        -561      -1,679
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            234           1           8            0           0           1          19          11          86          65          11           0          31
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      7           0           7            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     126           0           0            0           0           0         126           0           0           0           0           0           0
  Bank premises                                    2,188         109         446           79         117         195         205         196         106          95         233         219         188
  Central bank liquidity swaps (8)                    80           3          25            5           6          17           5           3           1           0           1           1          12
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,698         881       6,526        1,176       1,670       4,471       1,196         877         299          95         205         256       3,046
  Other assets (10)                               28,023         572      14,998          702         805       1,858       1,681       1,472         449         283         508       1,268       3,428
  Interdistrict settlement account                     0  +    2,323  +   21,803   -    8,081  +    5,735  -    1,003  +   28,414  -    4,436  +    2,467  -      406  -    6,018  +    5,081  -   45,879
                                                                                                                                                                                                         
Total assets                                   4,173,070      82,872   2,314,872       98,210     125,575     249,805     280,308     219,363      58,557      34,711      60,111     177,900     470,787

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 24, 2018 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,847,709      58,428     613,429      54,527      88,600     125,808     263,661     120,455      55,576      30,485      49,703     150,155     236,880
    Less: Notes held by F.R. Banks               205,043       6,647      56,876       7,481       9,954      14,900      31,601      13,555       5,788       3,176       6,141      17,991      30,933
      Federal Reserve notes, net               1,642,665      51,780     556,554      47,046      78,646     110,908     232,060     106,900      49,788      27,309      43,562     132,164     205,948
  Reverse repurchase agreements (11)             225,937       4,315     124,735       5,704       6,405      13,370      13,562      12,101       3,008       1,885       3,557       9,342      27,952
  Deposits                                     2,259,200      24,941   1,618,698      42,971      37,153     116,586      31,883      98,348       5,015       4,973      12,432      35,630     230,570
    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                           1,825,010      24,910   1,229,884      42,968      37,105     116,069      31,848      53,803       5,008       4,921      12,419      35,512     230,562
    U.S. Treasury, General Account               360,681           0     360,681           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,256           2       5,228           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    68,254          30      22,906           1          44         508          33      44,543           6          52          13         118           2
  Deferred availability cash items                   329           0           0           0           0           0         123           0           0         206           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   855          15         463          14          20           7          83          47          17          11          19          58         101
  Other liabilities and accrued             
     dividends                                     4,988         186       1,983         218         224         570         338         328         140         149         162         223         468
                                                                                                                                                                                                        
Total liabilities                              4,133,976      81,238   2,302,433      95,954     122,448     241,441     278,050     217,724      57,968      34,534      59,732     177,417     465,037
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,269       1,343      10,288       1,868       2,576       6,890       1,863       1,349         490         146         311         398       4,745
  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                  4,173,070      82,872   2,314,872      98,210     125,575     249,805     280,308     219,363      58,557      34,711      60,111     177,900     470,787

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 24, 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   
                                                                                          Oct 24, 2018  

Federal Reserve notes outstanding                                                            1,847,709  
  Less: Notes held by F.R. Banks not subject to collateralization                              205,043  
    Federal Reserve notes to be collateralized                                               1,642,665  
Collateral held against Federal Reserve notes                                                1,642,665  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,626,429  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,973,580  
  Less: Face value of securities under reverse repurchase agreements                           227,212  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,746,367  

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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