FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, October 6, 2016

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	October 6, 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 Oct 5, 2016
	Week ended Oct 5, 2016	Change from week ended
	Week ended Oct 5, 2016	Sep 28, 2016	Oct 7, 2015
Reserve Bank credit	4,418,319	- 6,246	- 28,428	4,419,433
Securities held outright¹	4,220,831	- 11,745	- 17,423	4,220,842
U.S. Treasury securities	2,463,462	- 15	+ 1,538	2,463,473
Bills²	0	0	0	0
Notes and bonds, nominal²	2,341,072	- 575	- 5,567	2,340,976
Notes and bonds, inflation-indexed²	105,128	+ 575	+ 6,594	105,224
Inflation compensation³	17,261	- 16	+ 511	17,273
Federal agency debt securities²	20,492	0	- 14,601	20,492
Mortgage-backed securities⁴	1,736,877	- 11,729	- 4,360	1,736,877
Unamortized premiums on securities held outright⁵	176,911	- 663	- 16,537	176,741
Unamortized discounts on securities held outright⁵	-15,463	+ 28	+ 1,534	-15,448
Repurchase agreements⁶	0	0	0	0
Loans	195	- 30	- 20	173
Primary credit	6	- 3	- 2	3
Secondary credit	0	0	0	0
Seasonal credit	189	- 27	- 18	170
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,708	+ 1	+ 5	1,708
Float	-681	- 293	- 941	-500
Central bank liquidity swaps⁸	7,003	+ 6,712	+ 6,860	7,003
Other Federal Reserve assets⁹	27,817	- 253	- 1,905	28,914
Foreign currency denominated assets¹⁰	21,477	- 60	+ 1,375	21,255
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,225	+ 14	+ 872	48,225

Total factors supplying reserve funds	4,504,263	- 6,292	- 26,180	4,505,154

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 5, 2016
	Week ended Oct 5, 2016	Change from week ended
	Week ended Oct 5, 2016	Sep 28, 2016	Oct 7, 2015
Currency in circulation¹¹	1,471,580	+ 3,359	+ 82,734	1,475,170
Reverse repurchase agreements¹²	593,191	+ 147,790	+ 260,470	536,588
Foreign official and international accounts	245,432	+ 4,356	+ 76,549	238,624
Others	347,759	+ 143,434	+ 183,921	297,964
Treasury cash holdings	143	+ 19	- 53	153
Deposits with F.R. Banks, other than reserve balances	392,651	- 25,458	+ 282,887	383,374
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	347,760	- 3,940	+ 264,379	342,208
Foreign official	5,169	+ 4	- 87	5,165
Other¹³	39,722	- 21,522	+ 18,595	36,001
Other liabilities and capital¹⁴	46,764	- 143	- 19,519	46,486

Total factors, other than reserve balances, absorbing reserve funds	2,504,328	+ 125,566	+ 606,518	2,441,770

Reserve balances with Federal Reserve Banks	1,999,935	- 131,857	- 632,698	2,063,383

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 Oct 5, 2016
	Week ended Oct 5, 2016	Change from week ended
	Week ended Oct 5, 2016	Sep 28, 2016	Oct 7, 2015
Securities held in custody for foreign official and international accounts	3,152,462	+ 8,954	- 176,080	3,147,956
Marketable U.S. Treasury securities¹	2,831,968	+ 8,427	- 170,637	2,827,314
Federal agency debt and mortgage-backed securities²	260,757	+ 579	- 20,322	260,940
Other securities³	59,737	- 53	+ 14,879	59,702
Securities lent to dealers	26,665	+ 1,414	+ 11,829	25,933
Overnight facility⁴	26,665	+ 1,414	+ 11,829	25,933
U.S. Treasury securities	26,631	+ 1,402	+ 11,843	25,897
Federal agency debt securities	34	+ 13	- 14	36

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 5, 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	21	152	0	0	0	...	173
U.S. Treasury securities¹
Holdings	0	42,341	149,983	1,202,712	433,453	634,984	2,463,473
Weekly changes	- 6,827	+ 11,702	- 755	- 6,496	+ 2,387	+ 2	+ 13
Federal agency debt securities²
Holdings	1,999	2,313	9,423	4,410	0	2,347	20,492
Weekly changes	+ 1,999	- 1,999	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	1,597	11,292	1,723,988	1,736,877
Weekly changes	0	0	0	+ 239	+ 23	- 260	+ 2
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	7,003	0	0	0	0	0	7,003

Reverse repurchase agreements⁴	536,588	0	...	...	...	...	536,588
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 5, 2016
Mortgage-backed securities held outright¹	1,736,877

Commitments to buy mortgage-backed securities²	45,960
Commitments to sell mortgage-backed securities²	10

Cash and cash equivalents³	1

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 5, 2016
Net portfolio holdings of Maiden Lane LLC¹	1,708

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 Oct 5, 2016	Change since
			Wednesday	Wednesday
			Sep 28, 2016	Oct 7, 2015
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,922	- 5	+ 13
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,382,308	- 374	- 32,523
Securities held outright¹		4,220,842	+ 15	- 17,411
U.S. Treasury securities		2,463,473	+ 13	+ 1,562
Bills²		0	0	0
Notes and bonds, nominal²		2,340,976	- 671	- 5,663
Notes and bonds, inflation-indexed²		105,224	+ 671	+ 6,690
Inflation compensation³		17,273	+ 13	+ 536
Federal agency debt securities²		20,492	0	- 14,601
Mortgage-backed securities⁴		1,736,877	+ 2	- 4,372
Unamortized premiums on securities held outright⁵		176,741	- 348	- 16,597
Unamortized discounts on securities held outright⁵		-15,448	+ 29	+ 1,538
Repurchase agreements⁶		0	0	0
Loans		173	- 69	- 53
Net portfolio holdings of Maiden Lane LLC⁷		1,708	+ 1	+ 5
Items in process of collection	(0)	61	+ 7	- 499
Bank premises		2,201	- 5	- 32
Central bank liquidity swaps⁸		7,003	+ 6,712	+ 6,860
Foreign currency denominated assets⁹		21,255	- 270	+ 1,174
Other assets¹⁰		26,713	+ 1,341	- 1,776

Total assets	(0)	4,459,407	+ 7,405	- 26,778

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 5, 2016	Change since
			Wednesday	Wednesday
			Sep 28, 2016	Oct 7, 2015
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,429,016	+ 5,092	+ 83,177
Reverse repurchase agreements¹¹		536,588	+ 21,778	+ 253,904
Deposits	(0)	2,446,757	- 19,364	- 344,881
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,063,383	- 21,854	- 615,411
U.S. Treasury, General Account		342,208	+ 2,589	+ 255,069
Foreign official		5,165	0	- 91
Other¹²	(0)	36,001	- 99	+ 15,552
Deferred availability cash items	(0)	561	- 195	+ 173
Other liabilities and accrued dividends¹³		6,310	+ 91	- 757

Total liabilities	(0)	4,419,231	+ 7,401	- 8,386

Capital accounts
Capital paid in		30,176	+ 4	+ 892
Surplus		10,000	0	- 19,284
Other capital accounts		0	0	0

Total capital		40,176	+ 4	- 18,392

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, October 5, 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	1,922	48	77	155	134	302	192	282	32	54	132	195	320
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,382,308	107,648	2,493,729	118,985	131,238	267,809	245,268	174,626	55,357	32,374	61,009	155,990	538,276
Securities held outright¹	4,220,842	103,686	2,401,942	114,605	126,407	257,951	236,237	168,179	53,270	31,118	58,743	150,240	518,462
U.S. Treasury securities	2,463,473	60,516	1,401,881	66,889	73,777	150,552	137,879	98,157	31,091	18,162	34,285	87,687	302,598
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,473	60,516	1,401,881	66,889	73,777	150,552	137,879	98,157	31,091	18,162	34,285	87,687	302,598
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	1,736,877	42,667	988,400	47,160	52,017	106,147	97,212	69,206	21,921	12,805	24,173	61,824	213,347
Unamortized premiums on securities held outright⁵	176,741	4,342	100,578	4,799	5,293	10,801	9,892	7,042	2,231	1,303	2,460	6,291	21,710
Unamortized discounts on securities held outright⁵	-15,448	-379	-8,791	-419	-463	-944	-865	-616	-195	-114	-215	-550	-1,898
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	173	0	0	0	0	0	4	21	51	66	22	9	1
Net portfolio holdings of Maiden
Lane LLC⁷	1,708	0	1,708	0	0	0	0	0	0	0	0	0	0
Items in process of collection	61	0	0	0	0	0	61	0	0	0	0	0	0
Bank premises	2,201	118	429	72	106	205	207	201	114	90	240	224	196
Central bank liquidity swaps⁸	7,003	310	2,310	385	533	1,562	389	188	72	30	70	89	1,065
Foreign currency denominated
assets⁹	21,255	939	7,014	1,169	1,619	4,740	1,180	570	218	91	212	269	3,233
Other assets¹⁰	26,713	691	14,762	730	807	1,801	1,512	1,082	416	222	424	967	3,299
Interdistrict settlement account	0	- 16,737	- 45,862	- 8,578	- 1,980	- 21,588	+ 18,711	+ 2,226	+ 5,767	+ 2,132	+ 576	+ 26,343	+ 38,991

Total assets	4,459,407	93,567	2,479,571	113,487	133,279	256,003	269,714	180,351	62,486	35,277	63,113	185,235	587,325

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 5, 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	1,615,830	50,105	525,807	50,487	80,904	113,976	224,197	107,960	49,778	27,977	41,798	133,689	209,152
Less: Notes held by F.R. Banks	186,814	6,287	51,436	6,815	9,958	14,191	28,134	12,740	5,465	3,172	5,857	15,851	26,909
Federal Reserve notes, net	1,429,016	43,818	474,372	43,672	70,946	99,785	196,063	95,219	44,314	24,805	35,941	117,838	182,243
Reverse repurchase agreements¹¹	536,588	13,181	305,354	14,570	16,070	32,793	30,032	21,380	6,772	3,956	7,468	19,100	65,911
Deposits	2,446,757	34,635	1,683,570	52,855	42,984	114,065	40,873	61,941	10,801	5,734	19,162	47,507	332,629
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	2,063,383	34,631	1,307,736	52,853	42,981	113,734	40,864	54,775	10,788	5,734	19,161	47,506	332,620
U.S. Treasury, General Account	342,208	0	342,208	0	0	0	0	0	0	0	0	0	0
Foreign official	5,165	2	5,138	2	3	9	2	1	0	0	0	1	6
Other¹²	36,001	2	28,488	0	0	322	7	7,165	13	0	1	0	3
Deferred availability cash items	561	0	0	0	0	0	96	0	0	464	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,665	32	1,038	32	32	54	105	64	22	12	24	67	182
Other liabilities and accrued dividends	4,645	152	2,066	187	196	494	324	251	141	136	125	211	362

Total liabilities	4,419,231	91,819	2,466,401	111,316	130,228	247,191	267,495	178,855	62,050	35,108	62,720	184,723	581,326

Capital
Capital paid in	30,176	1,307	9,871	1,621	2,290	6,581	1,664	1,227	333	127	293	385	4,477
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	4,459,407	93,567	2,479,571	113,487	133,279	256,003	269,714	180,351	62,486	35,277	63,113	185,235	587,325

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 5, 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	Oct 5, 2016
Federal Reserve notes outstanding	1,615,830
Less: Notes held by F.R. Banks not subject to collateralization	186,814
Federal Reserve notes to be collateralized	1,429,016
Collateral held against Federal Reserve notes	1,429,016
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,412,779
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,220,842
Less: Face value of securities under reverse repurchase agreements	498,227
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,722,615

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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