FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, December 29, 2016

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	December 29, 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 Dec 28, 2016
	Week ended Dec 28, 2016	Change from week ended
	Week ended Dec 28, 2016	Dec 21, 2016	Dec 30, 2015
Reserve Bank credit	4,427,224	+ 3,658	- 27,428	4,413,259
Securities held outright¹	4,233,391	+ 2,493	- 14,475	4,221,168
U.S. Treasury securities	2,463,591	+ 38	+ 2,033	2,463,601
Bills²	0	0	0	0
Notes and bonds, nominal²	2,339,103	0	- 7,536	2,339,103
Notes and bonds, inflation-indexed²	106,697	0	+ 8,163	106,697
Inflation compensation³	17,791	+ 38	+ 1,406	17,801
Federal agency debt securities²	16,180	- 181	- 16,764	16,180
Mortgage-backed securities⁴	1,753,620	+ 2,637	+ 255	1,741,387
Unamortized premiums on securities held outright⁵	173,584	- 361	- 16,249	173,109
Unamortized discounts on securities held outright⁵	-15,104	+ 36	+ 1,482	-15,092
Repurchase agreements⁶	0	0	0	0
Loans	44	+ 9	- 189	47
Primary credit	15	+ 8	- 146	17
Secondary credit	0	0	0	0
Seasonal credit	29	+ 1	- 43	31
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,707	0	- 9	1,707
Float	-286	+ 106	- 75	-691
Central bank liquidity swaps⁸	4,826	+ 83	+ 3,829	4,826
Other Federal Reserve assets⁹	29,061	+ 1,291	- 1,744	28,184
Foreign currency denominated assets¹⁰	19,367	+ 38	- 370	19,288
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	48,538	+ 14	+ 975	48,538

Total factors supplying reserve funds	4,511,369	+ 3,708	- 26,824	4,497,326

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 Dec 28, 2016
	Week ended Dec 28, 2016	Change from week ended
	Week ended Dec 28, 2016	Dec 21, 2016	Dec 30, 2015
Currency in circulation¹¹	1,506,076	+ 6,757	+ 82,342	1,509,076
Reverse repurchase agreements¹²	540,549	+ 47,777	+ 136,135	573,757
Foreign official and international accounts	247,280	- 7,902	+ 32,106	249,845
Others	293,269	+ 55,679	+ 104,029	323,912
Treasury cash holdings	164	+ 5	- 92	166
Deposits with F.R. Banks, other than reserve balances	465,071	+ 19,364	+ 120,061	424,956
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	380,679	- 7,818	+ 90,212	372,825
Foreign official	5,166	- 33	- 214	5,165
Other¹³	79,227	+ 27,215	+ 30,064	46,966
Other liabilities and capital¹⁴	46,954	+ 260	- 11,584	46,395

Total factors, other than reserve balances, absorbing reserve funds	2,558,814	+ 74,162	+ 326,862	2,554,351

Reserve balances with Federal Reserve Banks	1,952,555	- 70,454	- 353,686	1,942,975

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 Dec 28, 2016
	Week ended Dec 28, 2016	Change from week ended
	Week ended Dec 28, 2016	Dec 21, 2016	Dec 30, 2015
Securities held in custody for foreign official and international accounts	3,179,877	+ 8,023	- 144,034	3,181,626
Marketable U.S. Treasury securities¹	2,858,943	+ 9,257	- 149,530	2,860,887
Federal agency debt and mortgage-backed securities²	261,539	- 1,231	- 7,229	261,364
Other securities³	59,395	- 3	+ 12,725	59,375
Securities lent to dealers	21,987	+ 315	+ 6,183	21,270
Overnight facility⁴	21,987	+ 315	+ 6,183	21,270
U.S. Treasury securities	21,971	+ 321	+ 6,287	21,221
Federal agency debt securities	16	- 6	- 104	49

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, December 28, 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	47	0	0	0	0	...	47
U.S. Treasury securities¹
Holdings	11,702	30,795	146,822	1,241,849	399,275	633,160	2,463,601
Weekly changes	0	+ 1	+ 1	+ 6	+ 7	+ 22	+ 35
Federal agency debt securities²
Holdings	0	2,851	8,938	2,044	0	2,347	16,180
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	77	10,584	1,730,726	1,741,387
Weekly changes	0	0	0	- 1	- 261	- 16,833	- 17,094
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	4,826	0	0	0	0	0	4,826

Reverse repurchase agreements⁴	573,757	0	...	...	...	...	573,757
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	Dec 28, 2016
Mortgage-backed securities held outright¹	1,741,387

Commitments to buy mortgage-backed securities²	35,182
Commitments to sell mortgage-backed securities²	0

Cash and cash equivalents³	7

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	Dec 28, 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 September 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 Dec 28, 2016	Change since
			Wednesday	Wednesday
			Dec 21, 2016	Dec 30, 2015
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,874	+ 2	- 13
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,379,233	- 17,875	- 36,331
Securities held outright¹		4,221,168	- 17,059	- 20,797
U.S. Treasury securities		2,463,601	+ 35	+ 2,047
Bills²		0	0	0
Notes and bonds, nominal²		2,339,103	0	- 7,536
Notes and bonds, inflation-indexed²		106,697	0	+ 8,163
Inflation compensation³		17,801	+ 35	+ 1,420
Federal agency debt securities²		16,180	0	- 16,764
Mortgage-backed securities⁴		1,741,387	- 17,094	- 6,080
Unamortized premiums on securities held outright⁵		173,109	- 858	- 16,430
Unamortized discounts on securities held outright⁵		-15,092	+ 35	+ 1,483
Repurchase agreements⁶		0	0	0
Loans		47	+ 5	- 588
Net portfolio holdings of Maiden Lane LLC⁷		1,707	0	- 10
Items in process of collection	(0)	94	+ 28	- 59
Bank premises		2,210	+ 6	- 34
Central bank liquidity swaps⁸		4,826	+ 83	+ 3,829
Foreign currency denominated assets⁹		19,288	- 30	- 469
Other assets¹⁰		25,983	+ 149	- 2,046

Total assets	(0)	4,451,451	- 17,638	- 35,136

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 Dec 28, 2016	Change since
			Wednesday	Wednesday
			Dec 21, 2016	Dec 30, 2015
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,462,574	+ 6,073	+ 81,815
Reverse repurchase agreements¹¹		573,757	+ 13,585	+ 75,238
Deposits	(0)	2,367,939	- 37,667	- 192,731
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		1,942,983	- 19,784	- 265,700
U.S. Treasury, General Account		372,825	- 14,189	+ 47,979
Foreign official		5,165	- 16	- 66
Other¹²	(0)	46,966	- 3,677	+ 25,056
Deferred availability cash items	(0)	785	+ 310	+ 501
Other liabilities and accrued dividends¹³		5,953	+ 60	- 950

Total liabilities	(0)	4,411,008	- 17,639	- 36,128

Capital accounts
Capital paid in		30,443	+ 1	+ 992
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		40,443	+ 1	+ 992

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, December 28, 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	1,874	46	67	161	138	306	187	279	29	51	113	189	308
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,379,233	107,577	2,492,050	118,906	131,149	267,628	245,099	174,498	55,271	32,297	60,958	155,876	537,922
Securities held outright¹	4,221,168	103,694	2,402,128	114,614	126,417	257,971	236,255	168,192	53,275	31,121	58,748	150,251	518,502
U.S. Treasury securities	2,463,601	60,519	1,401,954	66,892	73,781	150,560	137,886	98,162	31,093	18,163	34,287	87,691	302,614
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,463,601	60,519	1,401,954	66,892	73,781	150,560	137,886	98,162	31,093	18,163	34,287	87,691	302,614
Federal agency debt securities²	16,180	397	9,208	439	485	989	906	645	204	119	225	576	1,987
Mortgage-backed securities⁴	1,741,387	42,778	990,966	47,282	52,152	106,423	97,464	69,385	21,978	12,838	24,236	61,984	213,901
Unamortized premiums on securities held outright⁵	173,109	4,252	98,510	4,700	5,184	10,579	9,689	6,897	2,185	1,276	2,409	6,162	21,264
Unamortized discounts on securities held outright⁵	-15,092	-371	-8,588	-410	-452	-922	-845	-601	-190	-111	-210	-537	-1,854
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	47	1	0	2	0	0	0	10	2	11	11	0	10
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	94	0	0	0	0	0	93	0	0	0	0	0	0
Bank premises	2,210	119	441	72	107	203	206	201	114	90	239	224	196
Central bank liquidity swaps⁸	4,826	213	1,592	266	368	1,076	268	129	50	21	48	61	734
Foreign currency denominated
assets⁹	19,288	852	6,365	1,061	1,469	4,301	1,071	517	198	82	193	245	2,934
Other assets¹⁰	25,983	674	14,274	710	779	1,745	1,470	1,039	389	212	417	1,082	3,192
Interdistrict settlement account	0	- 14,243	- 60,988	- 9,489	+ 236	- 2,055	+ 22,226	+ 17,363	+ 3,363	+ 4,002	+ 4,141	+ 21,256	+ 14,188

Total assets	4,451,451	95,789	2,460,914	112,256	135,069	274,376	272,815	195,203	59,923	37,038	66,558	180,089	561,420

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, December 28, 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	1,638,669	52,737	534,978	51,957	80,322	117,463	224,571	108,987	49,542	28,333	44,406	135,823	209,551
Less: Notes held by F.R. Banks	176,095	5,563	50,588	6,414	8,424	12,801	24,908	10,776	5,159	2,970	5,615	16,328	26,549
Federal Reserve notes, net	1,462,574	47,173	484,389	45,543	71,898	104,662	199,663	98,211	44,383	25,363	38,790	119,495	183,002
Reverse repurchase agreements¹¹	573,757	14,094	326,506	15,579	17,183	35,064	32,113	22,861	7,241	4,230	7,985	20,423	70,477
Deposits	2,367,939	32,575	1,634,189	48,717	42,504	125,208	38,185	72,287	7,723	6,470	19,247	39,402	301,433
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	1,942,983	32,569	1,225,320	48,714	42,501	125,045	38,176	56,416	7,703	6,469	19,243	39,401	301,425
U.S. Treasury, General Account	372,825	0	372,825	0	0	0	0	0	0	0	0	0	0
Foreign official	5,165	2	5,139	2	3	9	2	1	0	0	0	1	6
Other¹²	46,966	4	30,906	0	0	154	7	15,869	19	0	4	1	2
Deferred availability cash items	785	0	0	0	0	0	122	0	0	663	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,397	33	828	34	40	77	83	47	13	10	18	56	159
Other liabilities and accrued dividends	4,556	152	1,954	196	203	555	318	255	128	132	121	198	345

Total liabilities	4,411,008	94,027	2,447,867	110,069	131,828	265,567	270,484	193,661	59,487	36,867	66,162	179,573	555,416

Capital
Capital paid in	30,443	1,320	9,748	1,637	2,480	6,579	1,776	1,274	333	129	296	389	4,483
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	4,451,451	95,789	2,460,914	112,256	135,069	274,376	272,815	195,203	59,923	37,038	66,558	180,089	561,420

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, December 28, 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	Dec 28, 2016
Federal Reserve notes outstanding	1,638,669
Less: Notes held by F.R. Banks not subject to collateralization	176,095
Federal Reserve notes to be collateralized	1,462,574
Collateral held against Federal Reserve notes	1,462,574
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,446,337
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,221,168
Less: Face value of securities under reverse repurchase agreements	558,159
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,663,009

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