FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, November 2, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	November 2, 2017

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 Nov 1, 2017
	Week ended Nov 1, 2017	Change from week ended
	Week ended Nov 1, 2017	Oct 25, 2017	Nov 2, 2016
Reserve Bank credit	4,420,808	- 6,812	+ 8,051	4,416,450
Securities held outright¹	4,241,454	- 6,199	+ 23,555	4,237,214
U.S. Treasury securities	2,464,070	- 1,626	+ 506	2,459,827
Bills²	0	0	0	0
Notes and bonds, nominal²	2,335,576	- 1,750	- 5,271	2,331,201
Notes and bonds, inflation-indexed²	109,448	+ 36	+ 4,095	109,537
Inflation compensation³	19,046	+ 89	+ 1,682	19,088
Federal agency debt securities²	6,757	0	- 11,736	6,757
Mortgage-backed securities⁴	1,770,627	- 4,573	+ 34,784	1,770,630
Unamortized premiums on securities held outright⁵	161,372	- 378	- 14,464	161,274
Unamortized discounts on securities held outright⁵	-14,316	+ 30	+ 999	-14,310
Repurchase agreements⁶	0	0	0	0
Loans	105	- 39	+ 47	52
Primary credit	8	+ 2	+ 4	1
Secondary credit	0	0	0	0
Seasonal credit	97	- 40	+ 44	51
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,711	+ 5	+ 5	1,712
Float	-522	- 270	+ 313	-436
Central bank liquidity swaps⁸	40	+ 3	- 975	40
Other Federal Reserve assets⁹	30,964	+ 35	- 1,429	30,904
Foreign currency denominated assets¹⁰	20,893	- 196	- 23	20,865
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,216	+ 14	+ 781	49,216

Total factors supplying reserve funds	4,507,157	- 6,995	+ 8,808	4,502,772

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 Nov 1, 2017
	Week ended Nov 1, 2017	Change from week ended
	Week ended Nov 1, 2017	Oct 25, 2017	Nov 2, 2016
Currency in circulation¹¹	1,585,383	+ 1,828	+ 106,017	1,589,253
Reverse repurchase agreements¹²	351,308	+ 14,690	- 43,823	319,936
Foreign official and international accounts	240,016	+ 7,626	+ 311	232,771
Others	111,291	+ 7,063	- 44,135	87,165
Treasury cash holdings	217	+ 1	+ 35	230
Deposits with F.R. Banks, other than reserve balances	279,722	- 21,932	- 189,368	264,815
Term deposits held by depository institutions	0	- 14,140	0	0
U.S. Treasury, General Account	193,546	- 2,786	- 224,119	181,764
Foreign official	5,168	- 40	- 5	5,177
Other¹³	81,008	- 4,965	+ 34,755	77,875
Other liabilities and capital¹⁴	47,312	- 966	+ 719	47,067

Total factors, other than reserve balances, absorbing reserve funds	2,263,942	- 6,377	- 126,420	2,221,300

Reserve balances with Federal Reserve Banks	2,243,215	- 617	+ 135,228	2,281,472

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, 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 Nov 1, 2017
	Week ended Nov 1, 2017	Change from week ended
	Week ended Nov 1, 2017	Oct 25, 2017	Nov 2, 2016
Securities held in custody for foreign official and international accounts	3,365,758	+ 973	+ 245,417	3,372,457
Marketable U.S. Treasury securities¹	3,038,575	+ 143	+ 237,938	3,045,005
Federal agency debt and mortgage-backed securities²	262,500	+ 721	+ 3,083	262,651
Other securities³	64,684	+ 110	+ 4,398	64,802
Securities lent to dealers	25,338	+ 1,279	+ 3,957	28,467
Overnight facility⁴	25,338	+ 1,279	+ 3,957	28,467
U.S. Treasury securities	25,338	+ 1,279	+ 3,982	28,467
Federal agency debt securities	0	0	- 25	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, November 1, 2017

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	5	47	0	0	0	...	52
U.S. Treasury securities¹
Holdings	11,043	28,456	345,643	1,111,513	329,644	633,529	2,459,827
Weekly changes	+ 2,342	- 11,040	+ 23,834	- 21,922	+ 703	+ 184	- 5,900
Federal agency debt securities²
Holdings	0	2,366	1,982	62	0	2,347	6,757
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	132	17,077	1,753,420	1,770,630
Weekly changes	0	0	0	0	0	+ 67	+ 67
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	40	0	0	0	0	0	40

Reverse repurchase agreements⁴	319,936	0	...	...	...	...	319,936
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	Nov 1, 2017
Mortgage-backed securities held outright¹	1,770,630

Commitments to buy mortgage-backed securities²	22,530
Commitments to sell mortgage-backed securities²	20

Cash and cash equivalents³	6

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	Nov 1, 2017
Net portfolio holdings of Maiden Lane LLC¹	1,712

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. Assets are revalued quarterly.
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 Nov 1, 2017	Change since
			Wednesday	Wednesday
			Oct 25, 2017	Nov 2, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,832	- 7	- 52
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,384,231	- 6,173	+ 5,856
Securities held outright¹		4,237,214	- 5,834	+ 19,289
U.S. Treasury securities		2,459,827	- 5,900	- 3,759
Bills²		0	0	0
Notes and bonds, nominal²		2,331,201	- 6,125	- 9,473
Notes and bonds, inflation-indexed²		109,537	+ 125	+ 4,011
Inflation compensation³		19,088	+ 99	+ 1,703
Federal agency debt securities²		6,757	0	- 11,736
Mortgage-backed securities⁴		1,770,630	+ 67	+ 34,783
Unamortized premiums on securities held outright⁵		161,274	- 266	- 14,434
Unamortized discounts on securities held outright⁵		-14,310	+ 23	+ 984
Repurchase agreements⁶		0	0	0
Loans		52	- 97	+ 17
Net portfolio holdings of Maiden Lane LLC⁷		1,712	+ 1	+ 4
Items in process of collection	(0)	66	+ 12	- 9
Bank premises		2,199	- 2	0
Central bank liquidity swaps⁸		40	+ 3	- 975
Foreign currency denominated assets⁹		20,865	- 229	- 442
Other assets¹⁰		28,705	+ 1,166	- 1,583

Total assets	(0)	4,455,887	- 5,230	+ 2,800

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 Nov 1, 2017	Change since
			Wednesday	Wednesday
			Oct 25, 2017	Nov 2, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,542,094	+ 5,218	+ 103,759
Reverse repurchase agreements¹¹		319,936	- 27,967	- 95,002
Deposits	(0)	2,546,288	+ 17,769	- 5,894
Term deposits held by depository institutions		0	- 14,140	0
Other deposits held by depository institutions		2,281,472	+ 39,854	+ 144,263
U.S. Treasury, General Account		181,764	- 3,328	- 190,130
Foreign official		5,177	+ 11	+ 5
Other¹²	(0)	77,875	- 4,628	+ 39,968
Deferred availability cash items	(0)	503	+ 185	- 1
Other liabilities and accrued dividends¹³		5,850	- 425	- 1,089

Total liabilities	(0)	4,414,670	- 5,221	+ 1,772

Capital accounts
Capital paid in		31,217	- 10	+ 1,029
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		41,217	- 10	+ 1,029

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, 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, November 1, 2017

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	349	3,592	348	553	776	1,520	737	341	191	292	916	1,422
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,832	46	51	178	134	269	196	290	31	51	103	187	297
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,384,231	85,420	2,468,695	113,198	127,137	256,871	258,069	184,399	58,468	34,201	62,193	175,516	560,063
Securities held outright¹	4,237,214	82,557	2,385,941	109,403	122,875	248,261	249,418	178,212	56,502	33,035	60,094	169,628	541,288
U.S. Treasury securities	2,459,827	47,927	1,385,108	63,512	71,333	144,123	144,794	103,457	32,801	19,178	34,886	98,474	314,234
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,459,827	47,927	1,385,108	63,512	71,333	144,123	144,794	103,457	32,801	19,178	34,886	98,474	314,234
Federal agency debt securities²	6,757	132	3,805	174	196	396	398	284	90	53	96	271	863
Mortgage-backed securities⁴	1,770,630	34,498	997,028	45,717	51,347	103,742	104,226	74,470	23,611	13,805	25,112	70,884	226,191
Unamortized premiums on securities held outright⁵	161,274	3,142	90,812	4,164	4,677	9,449	9,493	6,783	2,151	1,257	2,287	6,456	20,602
Unamortized discounts on securities held outright⁵	-14,310	-279	-8,058	-369	-415	-838	-842	-602	-191	-112	-203	-573	-1,828
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	52	0	0	0	0	0	0	6	6	20	15	4	1
Net portfolio holdings of Maiden
Lane LLC⁷	1,712	0	1,712	0	0	0	0	0	0	0	0	0	0
Items in process of collection	66	0	0	0	0	0	66	0	0	1	0	0	0
Bank premises	2,199	116	441	72	124	197	203	202	110	88	236	219	192
Central bank liquidity swaps⁸	40	2	13	2	3	9	2	2	0	0	0	1	6
Foreign currency denominated
assets⁹	20,865	904	6,683	1,122	1,700	4,509	1,217	873	228	88	203	267	3,072
Other assets¹⁰	28,705	609	15,731	738	845	1,856	1,716	1,209	480	244	480	1,151	3,647
Interdistrict settlement account	0	- 2,749	- 49,110	+ 758	- 4,022	- 1,354	+ 3,996	+ 54,102	- 329	+ 2,763	+ 5,910	+ 8,068	- 18,032

Total assets	4,455,887	84,893	2,449,625	116,625	126,710	263,545	267,638	242,238	59,479	37,717	69,570	186,606	551,240

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, November 1, 2017 (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	1,728,586	56,269	568,866	54,829	84,717	120,745	232,707	116,662	52,126	31,192	48,172	142,006	220,295
Less: Notes held by F.R. Banks	186,492	6,687	51,111	6,563	9,682	13,803	26,268	11,830	5,461	3,303	5,488	18,227	28,068
Federal Reserve notes, net	1,542,094	49,582	517,754	48,266	75,035	106,942	206,439	104,833	46,665	27,889	42,684	123,778	192,228
Reverse repurchase agreements¹¹	319,936	6,234	180,153	8,261	9,278	18,745	18,833	13,456	4,266	2,494	4,537	12,808	40,871
Deposits	2,546,288	27,132	1,735,924	57,565	38,816	128,453	39,510	121,882	7,889	6,562	21,790	49,234	311,530
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	2,281,472	27,125	1,529,919	57,563	38,813	128,136	39,501	63,423	7,885	6,562	21,789	49,233	311,523
U.S. Treasury, General Account	181,764	0	181,764	0	0	0	0	0	0	0	0	0	0
Foreign official	5,177	2	5,150	2	3	9	2	2	0	0	0	1	6
Other¹²	77,875	5	19,092	0	0	308	7	58,458	3	0	1	0	1
Deferred availability cash items	503	0	0	0	0	0	63	0	0	439	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,367	34	737	29	33	79	111	54	21	14	19	70	166
Other liabilities and accrued dividends	4,482	142	1,971	184	199	460	305	264	144	133	131	198	351

Total liabilities	4,414,670	83,123	2,436,539	114,305	123,361	254,679	265,260	240,489	58,986	37,532	69,162	186,089	545,145

Capital
Capital paid in	31,217	1,336	9,884	1,783	2,535	6,705	1,794	1,330	384	143	311	390	4,622
Surplus	10,000	434	3,202	538	815	2,161	583	419	109	42	97	128	1,473
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,455,887	84,893	2,449,625	116,625	126,710	263,545	267,638	242,238	59,479	37,717	69,570	186,606	551,240

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, November 1, 2017 (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, 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	Nov 1, 2017
Federal Reserve notes outstanding	1,728,586
Less: Notes held by F.R. Banks not subject to collateralization	186,492
Federal Reserve notes to be collateralized	1,542,094
Collateral held against Federal Reserve notes	1,542,094
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,525,857
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,237,214
Less: Face value of securities under reverse repurchase agreements	307,429
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,929,785

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