FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, November 1, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	November 1, 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 31, 2018
	Week ended Oct 31, 2018	Change from week ended
	Week ended Oct 31, 2018	Oct 24, 2018	Nov 1, 2017
Reserve Bank credit	4,121,289	- 15,340	- 299,519	4,100,108
Securities held outright¹	3,962,219	- 14,010	- 279,235	3,941,797
U.S. Treasury securities	2,290,821	- 3,394	- 173,249	2,270,399
Bills²	53	- 7	+ 53	53
Notes and bonds, nominal²	2,153,190	- 3,405	- 182,386	2,132,762
Notes and bonds, inflation-indexed²	115,579	0	+ 6,131	115,579
Inflation compensation³	21,999	+ 17	+ 2,953	22,005
Federal agency debt securities²	2,409	0	- 4,348	2,409
Mortgage-backed securities⁴	1,668,989	- 10,616	- 101,638	1,668,989
Unamortized premiums on securities held outright⁵	143,331	- 594	- 18,041	143,237
Unamortized discounts on securities held outright⁵	-13,551	+ 32	+ 765	-13,540
Repurchase agreements⁶	0	0	0	0
Loans	187	- 15	+ 82	230
Primary credit	14	- 2	+ 6	61
Secondary credit	0	0	0	0
Seasonal credit	173	- 13	+ 76	169
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	7	0	- 1,704	7
Float	-352	- 209	+ 170	-877
Central bank liquidity swaps⁸	80	0	+ 40	80
Other Federal Reserve assets⁹	29,368	- 543	- 1,596	29,174
Foreign currency denominated assets¹⁰	20,711	- 97	- 182	20,626
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,829	+ 14	+ 581	49,829

Total factors supplying reserve funds	4,208,070	- 15,424	- 299,119	4,186,805

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 31, 2018
	Week ended Oct 31, 2018	Change from week ended
	Week ended Oct 31, 2018	Oct 24, 2018	Nov 1, 2017
Currency in circulation¹¹	1,691,432	+ 1,601	+ 106,017	1,696,031
Reverse repurchase agreements¹²	223,760	- 4,127	- 127,548	236,530
Foreign official and international accounts	221,583	- 1,141	- 18,433	231,715
Others	2,176	- 2,986	- 109,115	4,815
Treasury cash holdings	230	0	+ 13	232
Deposits with F.R. Banks, other than reserve balances	446,112	+ 3,573	+ 166,390	438,541
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	373,368	+ 3,792	+ 179,822	366,596
Foreign official	5,301	+ 45	+ 133	5,257
Other¹³	67,443	- 264	- 13,565	66,688
Other liabilities and capital¹⁴	44,283	- 1,115	- 3,029	43,929

Total factors, other than reserve balances, absorbing reserve funds	2,405,817	- 68	+ 141,843	2,415,264

Reserve balances with Federal Reserve Banks	1,802,252	- 15,356	- 440,963	1,771,541

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 31, 2018
	Week ended Oct 31, 2018	Change from week ended
	Week ended Oct 31, 2018	Oct 24, 2018	Nov 1, 2017
Securities held in custody for foreign official and international accounts	3,414,455	- 19,802	+ 48,697	3,404,618
Marketable U.S. Treasury securities¹	3,042,515	- 18,145	+ 3,940	3,032,247
Federal agency debt and mortgage-backed securities²	305,424	- 1,636	+ 42,924	306,038
Other securities³	66,515	- 22	+ 1,831	66,334
Securities lent to dealers	15,620	+ 245	- 9,718	18,052
Overnight facility⁴	15,620	+ 245	- 9,718	18,052
U.S. Treasury securities	15,620	+ 245	- 9,718	18,052
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 31, 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	199	30	0	0	0	...	230
U.S. Treasury securities¹
Holdings	34,357	45,211	324,193	985,372	264,095	617,170	2,270,399
Weekly changes	+ 10,471	- 34,304	+ 15,683	- 13,988	- 1,686	+ 8	- 23,816
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	2	189	48,702	1,620,096	1,668,989
Weekly changes	0	0	0	- 5	- 781	- 7,180	- 7,967
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	80	0	0	0	0	0	80

Reverse repurchase agreements⁴	236,530	0	...	...	...	...	236,530
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 31, 2018
Mortgage-backed securities held outright¹	1,668,989

Commitments to buy mortgage-backed securities²	2,943
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	2

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 31, 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.
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 31, 2018	Change since
			Wednesday	Wednesday
			Oct 24, 2018	Nov 1, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,737	- 9	- 95
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,071,724	- 32,240	- 312,507
Securities held outright¹		3,941,797	- 31,783	- 295,417
U.S. Treasury securities		2,270,399	- 23,816	- 189,428
Bills²		53	0	+ 53
Notes and bonds, nominal²		2,132,762	- 23,833	- 198,439
Notes and bonds, inflation-indexed²		115,579	0	+ 6,042
Inflation compensation³		22,005	+ 17	+ 2,917
Federal agency debt securities²		2,409	0	- 4,348
Mortgage-backed securities⁴		1,668,989	- 7,967	- 101,641
Unamortized premiums on securities held outright⁵		143,237	- 485	- 18,037
Unamortized discounts on securities held outright⁵		-13,540	+ 32	+ 770
Repurchase agreements⁶		0	0	0
Loans		230	- 4	+ 178
Net portfolio holdings of Maiden Lane LLC⁷		7	0	- 1,705
Items in process of collection	(0)	146	+ 20	+ 80
Bank premises		2,210	+ 22	+ 11
Central bank liquidity swaps⁸		80	0	+ 40
Foreign currency denominated assets⁹		20,626	- 72	- 239
Other assets¹⁰		26,964	- 1,059	- 1,741

Total assets	(0)	4,139,731	- 33,339	- 316,156

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 31, 2018	Change since
			Wednesday	Wednesday
			Oct 24, 2018	Nov 1, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,648,166	+ 5,501	+ 106,072
Reverse repurchase agreements¹¹		236,530	+ 10,593	- 83,406
Deposits	(0)	2,210,082	- 49,118	- 336,206
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,771,541	- 53,469	- 509,931
U.S. Treasury, General Account		366,596	+ 5,915	+ 184,832
Foreign official		5,257	+ 1	+ 80
Other¹²	(0)	66,688	- 1,566	- 11,187
Deferred availability cash items	(0)	1,022	+ 693	+ 519
Other liabilities and accrued dividends¹³		4,833	- 1,010	- 1,017

Total liabilities	(0)	4,100,634	- 33,342	- 314,036

Capital accounts
Capital paid in		32,271	+ 2	+ 1,054
Surplus		6,825	0	- 3,175
Other capital accounts		0	0	0

Total capital		39,096	+ 2	- 2,121

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 31, 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	1,737	46	36	155	118	236	182	288	29	44	108	200	294
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,071,724	77,762	2,247,783	102,797	115,428	240,938	244,411	218,075	54,284	34,036	64,106	168,356	503,748
Securities held outright¹	3,941,797	75,284	2,176,177	99,522	111,751	233,260	236,613	211,114	52,478	32,894	62,053	162,992	487,656
U.S. Treasury securities	2,270,399	43,362	1,253,436	57,323	64,367	134,353	136,285	121,598	30,227	18,946	35,741	93,881	280,880
Bills²	53	1	29	1	2	3	3	3	1	0	1	2	7
Notes and bonds³	2,270,346	43,361	1,253,407	57,321	64,365	134,350	136,282	121,595	30,226	18,946	35,741	93,878	280,874
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,668,989	31,876	921,411	42,138	47,316	98,764	100,184	89,387	22,220	13,928	26,274	69,012	206,477
Unamortized premiums on securities held outright⁵	143,237	2,736	79,078	3,616	4,061	8,476	8,598	7,671	1,907	1,195	2,255	5,923	17,720
Unamortized discounts on securities held outright⁵	-13,540	-259	-7,475	-342	-384	-801	-813	-725	-180	-113	-213	-560	-1,675
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	230	0	3	0	0	2	12	15	79	60	12	0	47
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	146	0	0	0	0	0	145	0	0	0	0	0	0
Bank premises	2,210	108	464	82	117	195	206	195	106	95	233	220	189
Central bank liquidity swaps⁸	80	3	25	5	6	17	5	3	1	0	1	1	12
Foreign currency denominated
assets⁹	20,626	877	6,513	1,171	1,664	4,452	1,191	874	297	95	204	255	3,034
Other assets¹⁰	26,964	553	14,461	676	781	1,794	1,621	1,420	456	286	496	1,114	3,305
Interdistrict settlement account	0	+ 8,279	- 5,577	- 5,087	+ 4,753	- 27,719	+ 35,066	+ 1,206	+ 4,535	+ 2,292	- 3,870	+ 12,079	- 25,955

Total assets	4,139,731	88,188	2,269,156	100,359	123,649	221,098	284,971	223,225	60,194	37,137	61,737	183,411	486,606

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 31, 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	1,849,591	58,382	613,093	54,856	88,602	125,701	263,263	120,856	55,733	31,430	49,849	150,316	237,510
Less: Notes held by F.R. Banks	201,424	6,483	58,400	7,218	9,408	14,293	30,823	12,955	5,636	3,042	5,869	17,384	29,914
Federal Reserve notes, net	1,648,166	51,899	554,693	47,638	79,193	111,408	232,440	107,902	50,096	28,388	43,980	132,932	207,597
Reverse repurchase agreements¹¹	236,530	4,517	130,583	5,972	6,706	13,997	14,198	12,668	3,149	1,974	3,724	9,780	29,262
Deposits	2,210,082	29,957	1,569,636	44,286	34,396	86,774	35,560	100,704	6,202	5,557	13,491	39,962	243,558
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	1,771,541	29,927	1,176,957	44,283	34,315	86,261	35,438	55,990	6,194	5,502	13,293	39,830	243,551
U.S. Treasury, General Account	366,596	0	366,596	0	0	0	0	0	0	0	0	0	0
Foreign official	5,257	2	5,229	2	3	9	2	2	1	0	0	0	6
Other¹²	66,688	29	20,853	1	77	504	119	44,713	7	55	198	132	2
Deferred availability cash items	1,022	0	0	0	0	0	132	0	0	890	0	0	0
Earnings remittances due to the U.S. Treasury¹³	764	16	377	14	23	26	82	40	15	9	23	49	90
Other liabilities and accrued dividends	4,069	164	1,428	193	204	529	301	272	142	141	141	206	349

Total liabilities	4,100,634	86,554	2,256,716	98,103	120,522	212,734	282,713	221,587	59,605	36,959	61,358	182,928	480,856

Capital
Capital paid in	32,271	1,343	10,289	1,868	2,576	6,890	1,864	1,349	491	146	312	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	4,139,731	88,188	2,269,156	100,359	123,649	221,098	284,971	223,225	60,194	37,137	61,737	183,411	486,606

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 31, 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 31, 2018
Federal Reserve notes outstanding	1,849,591
Less: Notes held by F.R. Banks not subject to collateralization	201,424
Federal Reserve notes to be collateralized	1,648,166
Collateral held against Federal Reserve notes	1,648,166
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,631,929
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	3,941,797
Less: Face value of securities under reverse repurchase agreements	237,688
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,704,108

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