FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, September 22, 2016

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	September 22, 2016

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Sep 21, 2016
	Week ended Sep 21, 2016	Change from week ended
	Week ended Sep 21, 2016	Sep 14, 2016	Sep 23, 2015
Reserve Bank credit	4,426,156	+ 2,941	- 30,363	4,433,021
Securities held outright¹	4,235,011	+ 2,180	- 12,494	4,241,341
U.S. Treasury securities	2,463,523	- 46	+ 1,577	2,463,506
Bills²	0	0	0	0
Notes and bonds, nominal²	2,341,647	0	- 4,993	2,341,647
Notes and bonds, inflation-indexed²	104,553	0	+ 6,019	104,553
Inflation compensation³	17,323	- 46	+ 552	17,306
Federal agency debt securities²	20,492	- 2,000	- 14,601	20,492
Mortgage-backed securities⁴	1,750,995	+ 4,226	+ 528	1,757,343
Unamortized premiums on securities held outright⁵	177,855	- 41	- 16,684	178,060
Unamortized discounts on securities held outright⁵	-15,525	+ 38	+ 1,609	-15,513
Repurchase agreements⁶	0	0	0	0
Loans	234	+ 39	- 35	229
Primary credit	30	+ 24	+ 19	20
Secondary credit	0	0	0	0
Seasonal credit	203	+ 13	- 55	209
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,707	0	+ 5	1,707
Float	-306	+ 34	- 423	-298
Central bank liquidity swaps⁸	2	- 4	- 681	2
Other Federal Reserve assets⁹	27,178	+ 694	- 1,659	27,491
Foreign currency denominated assets¹⁰	21,378	- 14	+ 1,293	21,483
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,147	+ 14	+ 846	48,147

Total factors supplying reserve funds	4,511,922	+ 2,941	- 28,224	4,518,892

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Sep 21, 2016
	Week ended Sep 21, 2016	Change from week ended
	Week ended Sep 21, 2016	Sep 14, 2016	Sep 23, 2015
Currency in circulation¹¹	1,468,505	- 2,763	+ 84,731	1,468,589
Reverse repurchase agreements¹²	366,859	+ 43,919	+ 76,058	429,394
Foreign official and international accounts	250,083	+ 2,962	+ 90,693	252,559
Others	116,776	+ 40,957	- 14,634	176,835
Treasury cash holdings	114	+ 9	- 32	121
Deposits with F.R. Banks, other than reserve balances	384,815	+ 86,890	+ 208,802	403,358
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	340,448	+ 97,366	+ 186,936	358,603
Foreign official	5,165	- 71	- 262	5,168
Other¹³	39,202	- 10,404	+ 22,129	39,588
Other liabilities and capital¹⁴	47,162	- 1,091	- 19,387	47,111

Total factors, other than reserve balances, absorbing reserve funds	2,267,456	+ 126,965	+ 350,174	2,348,573

Reserve balances with Federal Reserve Banks	2,244,467	- 124,024	- 378,398	2,170,319

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
14.	Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.

1A. Memorandum Items

Millions of dollars

Memorandum item	Averages of daily figures			Wednesday Sep 21, 2016
	Week ended Sep 21, 2016	Change from week ended
	Week ended Sep 21, 2016	Sep 14, 2016	Sep 23, 2015
Securities held in custody for foreign official and international accounts	3,150,270	- 14,275	- 201,301	3,147,423
Marketable U.S. Treasury securities¹	2,829,202	- 12,214	- 194,748	2,827,085
Federal agency debt and mortgage-backed securities²	261,569	- 1,421	- 21,101	260,233
Other securities³	59,499	- 641	+ 14,548	60,104
Securities lent to dealers	23,921	- 58	+ 9,726	23,267
Overnight facility⁴	23,921	- 58	+ 9,726	23,267
U.S. Treasury securities	23,906	- 57	+ 9,760	23,252
Federal agency debt securities	15	- 1	- 34	15

Note: Components may not sum to totals because of rounding.

1.	Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.
2.	Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.
3.	Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.
4.	Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, September 21, 2016

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	223	7	0	0	0	...	229
U.S. Treasury securities¹
Holdings	6,827	30,639	150,740	1,209,216	431,074	635,011	2,463,506
Weekly changes	+ 6,827	- 6,827	- 2	- 7	- 8	- 28	- 47
Federal agency debt securities²
Holdings	0	4,312	9,423	4,410	0	2,347	20,492
Weekly changes	- 2,000	+ 2,313	- 2,313	0	0	0	- 2,000
Mortgage-backed securities³
Holdings	0	0	0	1,402	11,501	1,744,440	1,757,343
Weekly changes	0	0	0	- 8	+ 797	- 6,919	- 6,130
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	2	0	0	0	0	0	2

Reverse repurchase agreements⁴	429,394	0	...	...	...	...	429,394
Term deposits	0	0	0	...	...	...	0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1.	Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
2.	Face value.
3.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
4.	Cash value of agreements.
5.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Sep 21, 2016
Mortgage-backed securities held outright¹	1,757,343

Commitments to buy mortgage-backed securities²	23,856
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	0

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

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Sep 21, 2016
Net portfolio holdings of Maiden Lane LLC¹	1,707

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. Revalued quarterly. This table reflects valuations as of June 30, 2016. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2.	Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.
3.	Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Sep 21, 2016	Change since
			Wednesday	Wednesday
			Sep 14, 2016	Sep 23, 2015
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,927	+ 2	+ 20
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,404,118	- 8,488	- 23,165
Securities held outright¹		4,241,341	- 8,176	- 8,317
U.S. Treasury securities		2,463,506	- 47	+ 1,560
Bills²		0	0	0
Notes and bonds, nominal²		2,341,647	0	- 4,993
Notes and bonds, inflation-indexed²		104,553	0	+ 6,019
Inflation compensation³		17,306	- 46	+ 534
Federal agency debt securities²		20,492	- 2,000	- 14,601
Mortgage-backed securities⁴		1,757,343	- 6,130	+ 4,724
Unamortized premiums on securities held outright⁵		178,060	- 365	- 16,400
Unamortized discounts on securities held outright⁵		-15,513	+ 38	+ 1,606
Repurchase agreements⁶		0	0	0
Loans		229	+ 14	- 54
Net portfolio holdings of Maiden Lane LLC⁷		1,707	0	+ 5
Items in process of collection	(0)	67	- 146	- 240
Bank premises		2,205	+ 1	- 33
Central bank liquidity swaps⁸		2	- 4	- 681
Foreign currency denominated assets⁹		21,483	+ 39	+ 1,515
Other assets¹⁰		25,286	- 7	- 1,873

Total assets	(0)	4,473,032	- 8,603	- 24,452

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Sep 21, 2016	Change since
			Wednesday	Wednesday
			Sep 14, 2016	Sep 23, 2015
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,422,486	- 1,936	+ 82,643
Reverse repurchase agreements¹¹		429,394	+ 112,794	+ 125,597
Deposits	(0)	2,573,677	- 117,357	- 214,906
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,170,319	- 178,969	- 431,877
U.S. Treasury, General Account		358,603	+ 105,912	+ 193,662
Foreign official		5,168	+ 2	- 88
Other¹²	(0)	39,588	- 44,301	+ 23,398
Deferred availability cash items	(0)	365	- 396	+ 127
Other liabilities and accrued dividends¹³		6,947	- 1,724	+ 476

Total liabilities	(0)	4,432,869	- 8,619	- 6,064

Capital accounts
Capital paid in		30,164	+ 17	+ 888
Surplus		10,000	0	- 19,276
Other capital accounts		0	0	0

Total capital		40,164	+ 17	- 18,388

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13.	Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, September 21, 2016

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	355	3,588	359	586	760	1,541	753	360	193	296	875	1,371
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,927	48	74	155	134	302	192	281	33	55	136	195	322
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,404,118	108,183	2,506,108	119,575	131,889	269,143	246,499	175,497	55,642	32,561	61,311	156,763	540,947
Securities held outright¹	4,241,341	104,190	2,413,608	115,162	127,021	259,204	237,384	168,996	53,529	31,270	59,028	150,969	520,980
U.S. Treasury securities	2,463,506	60,517	1,401,900	66,890	73,778	150,554	137,880	98,158	31,091	18,162	34,286	87,688	302,602
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,506	60,517	1,401,900	66,890	73,778	150,554	137,880	98,158	31,091	18,162	34,286	87,688	302,602
Federal agency debt securities²	20,492	503	11,661	556	614	1,252	1,147	817	259	151	285	729	2,517
Mortgage-backed securities⁴	1,757,343	43,170	1,000,046	47,716	52,629	107,398	98,357	70,021	22,179	12,956	24,458	62,552	215,861
Unamortized premiums on securities held outright⁵	178,060	4,374	101,328	4,835	5,333	10,882	9,966	7,095	2,247	1,313	2,478	6,338	21,872
Unamortized discounts on securities held outright⁵	-15,513	-381	-8,828	-421	-465	-948	-868	-618	-196	-114	-216	-552	-1,905
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	229	0	0	0	0	5	17	25	62	93	21	7	0
Net portfolio holdings of Maiden
Lane LLC⁷	1,707	0	1,707	0	0	0	0	0	0	0	0	0	0
Items in process of collection	67	0	0	0	0	0	67	0	0	0	0	0	0
Bank premises	2,205	119	428	72	105	206	208	201	115	90	240	225	197
Central bank liquidity swaps⁸	2	0	1	0	0	0	0	0	0	0	0	0	0
Foreign currency denominated
assets⁹	21,483	949	7,090	1,182	1,636	4,791	1,193	576	220	92	214	272	3,268
Other assets¹⁰	25,286	652	13,854	687	757	1,711	1,415	1,015	520	207	400	963	3,106
Interdistrict settlement account	0	- 23,185	+ 41,455	- 2,485	- 9,686	- 26,941	+ 7,534	- 4,210	- 248	+ 66	- 730	+ 12,757	+ 5,674

Total assets	4,473,032	87,317	2,576,123	119,756	125,657	250,385	259,302	174,537	56,792	33,354	62,021	172,331	555,459

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, September 21, 2016 (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	1,613,878	50,221	526,777	50,069	81,054	113,868	223,934	106,568	49,869	27,824	41,529	133,606	208,559
Less: Notes held by F.R. Banks	191,392	6,296	54,106	6,868	9,799	14,421	29,389	12,718	5,587	3,222	5,546	16,449	26,992
Federal Reserve notes, net	1,422,486	43,924	472,671	43,202	71,255	99,447	194,545	93,850	44,283	24,602	35,984	117,157	181,567
Reverse repurchase agreements¹¹	429,394	10,548	244,354	11,659	12,860	26,242	24,033	17,109	5,419	3,166	5,976	15,284	52,744
Deposits	2,573,677	30,888	1,842,558	62,472	38,228	115,244	37,964	61,746	6,493	4,975	19,513	39,087	314,509
Term deposits held by depository institutions	0	0	0	0	0	0	0	0	0	0	0	0	0
Other deposits held by depository institutions	2,170,319	30,884	1,446,830	62,470	38,225	115,061	37,955	54,340	6,480	4,975	19,512	39,086	314,500
U.S. Treasury, General Account	358,603	0	358,603	0	0	0	0	0	0	0	0	0	0
Foreign official	5,168	2	5,141	2	3	9	2	1	0	0	0	1	6
Other¹²	39,588	2	31,984	0	0	174	7	7,404	13	0	1	0	3
Deferred availability cash items	365	0	0	0	0	0	76	0	0	288	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,192	25	673	31	37	77	76	44	15	8	15	45	144
Other liabilities and accrued dividends	5,756	183	2,697	221	228	564	388	294	149	145	139	247	500

Total liabilities	4,432,869	85,569	2,562,952	117,585	122,608	241,573	257,083	173,043	56,360	33,184	61,628	171,820	549,463

Capital
Capital paid in	30,164	1,306	9,871	1,621	2,287	6,581	1,664	1,225	329	127	293	385	4,474
Surplus	10,000	442	3,299	550	762	2,230	555	268	103	43	100	127	1,521
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,473,032	87,317	2,576,123	119,756	125,657	250,385	259,302	174,537	56,792	33,354	62,021	172,331	555,459

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

6. Statement of Condition of Each Federal Reserve Bank, September 21, 2016 (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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities. 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 $10 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Sep 21, 2016
Federal Reserve notes outstanding	1,613,878
Less: Notes held by F.R. Banks not subject to collateralization	191,392
Federal Reserve notes to be collateralized	1,422,486
Collateral held against Federal Reserve notes	1,422,486
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,406,249
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,241,341
Less: Face value of securities under reverse repurchase agreements	403,105
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,838,236

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