FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, November 30, 2017

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	November 30, 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 29, 2017
	Week ended Nov 29, 2017	Change from week ended
	Week ended Nov 29, 2017	Nov 22, 2017	Nov 30, 2016
Reserve Bank credit	4,405,898	- 4,096	- 5,034	4,397,722
Securities held outright¹	4,235,014	- 4,476	+ 9,393	4,228,444
U.S. Treasury securities	2,456,900	+ 155	- 6,933	2,456,959
Bills²	0	0	0	0
Notes and bonds, nominal²	2,327,698	0	- 12,809	2,327,698
Notes and bonds, inflation-indexed²	109,537	0	+ 3,844	109,537
Inflation compensation³	19,666	+ 156	+ 2,034	19,724
Federal agency debt securities²	4,391	- 338	- 14,102	4,391
Mortgage-backed securities⁴	1,773,723	- 4,293	+ 30,428	1,767,095
Unamortized premiums on securities held outright⁵	160,463	- 421	- 14,524	160,163
Unamortized discounts on securities held outright⁵	-14,236	+ 29	+ 969	-14,225
Repurchase agreements⁶	0	- 9	0	0
Loans	50	- 17	+ 12	67
Primary credit	6	- 11	- 2	24
Secondary credit	0	0	0	0
Seasonal credit	44	- 6	+ 14	43
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,710	0	+ 9	1,709
Float	-447	- 125	+ 160	-1,446
Central bank liquidity swaps⁸	35	0	- 1,142	35
Other Federal Reserve assets⁹	23,309	+ 923	+ 88	22,975
Foreign currency denominated assets¹⁰	21,356	+ 182	+ 1,525	21,296
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,287	+ 14	+ 809	49,287

Total factors supplying reserve funds	4,492,782	- 3,900	- 2,700	4,484,546

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 29, 2017
	Week ended Nov 29, 2017	Change from week ended
	Week ended Nov 29, 2017	Nov 22, 2017	Nov 30, 2016
Currency in circulation¹¹	1,599,215	+ 4,670	+ 104,423	1,599,963
Reverse repurchase agreements¹²	278,286	+ 11,865	- 111,063	294,644
Foreign official and international accounts	231,096	+ 2,725	- 18,726	227,625
Others	47,190	+ 9,139	- 92,338	67,019
Treasury cash holdings	203	- 2	+ 37	202
Deposits with F.R. Banks, other than reserve balances	271,785	+ 25,233	- 196,403	271,340
Term deposits held by depository institutions	0	0	0	0
U.S. Treasury, General Account	172,282	+ 8,703	- 237,078	178,685
Foreign official	5,166	0	- 9	5,167
Other¹³	94,336	+ 16,530	+ 40,683	87,488
Other liabilities and capital¹⁴	48,398	- 655	+ 2,096	47,226

Total factors, other than reserve balances, absorbing reserve funds	2,197,886	+ 41,111	- 200,912	2,213,375

Reserve balances with Federal Reserve Banks	2,294,895	- 45,012	+ 198,211	2,271,171

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

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements.
7.	Refer to table 4 and the note on consolidation accompanying table 6.
8.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for depreciation.
10.	Revalued daily at current foreign currency exchange rates.
11.	Estimated.
12.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
14.	Includes the liability for earnings remittances due to the U.S. Treasury.

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

1A. Memorandum Items

Millions of dollars

Memorandum item	Averages of daily figures			Wednesday Nov 29, 2017
	Week ended Nov 29, 2017	Change from week ended
	Week ended Nov 29, 2017	Nov 22, 2017	Nov 30, 2016
Securities held in custody for foreign official and international accounts	3,387,303	+ 15,033	+ 260,505	3,387,254
Marketable U.S. Treasury securities¹	3,047,684	+ 4,880	+ 245,032	3,045,662
Federal agency debt and mortgage-backed securities²	263,788	+ 1,794	- 637	263,784
Other securities³	75,831	+ 8,359	+ 16,110	77,807
Securities lent to dealers	21,163	+ 207	- 1,051	17,827
Overnight facility⁴	21,163	+ 207	- 1,051	17,827
U.S. Treasury securities	21,163	+ 207	- 1,036	17,827
Federal agency debt securities	0	0	- 15	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 29, 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	67	0	0	0	0	...	67
U.S. Treasury securities¹
Holdings	7,869	65,013	335,543	1,117,114	308,302	623,118	2,456,959
Weekly changes	0	+ 3	+ 1	+ 36	+ 16	+ 80	+ 137
Federal agency debt securities²
Holdings	0	0	1,982	62	0	2,347	4,391
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	1	156	20,279	1,746,658	1,767,095
Weekly changes	0	0	0	- 4	- 367	- 11,219	- 11,588
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	35	0	0	0	0	0	35

Reverse repurchase agreements⁴	294,644	0	...	...	...	...	294,644
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 29, 2017
Mortgage-backed securities held outright¹	1,767,095

Commitments to buy mortgage-backed securities²	20,542
Commitments to sell mortgage-backed securities²	168

Cash and cash equivalents³	12

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 29, 2017
Net portfolio holdings of Maiden Lane LLC¹	1,709

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 29, 2017	Change since
			Wednesday	Wednesday
			Nov 22, 2017	Nov 30, 2016
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,833	- 2	+ 4
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,374,449	- 11,997	- 8,169
Securities held outright¹		4,228,444	- 11,452	+ 5,416
U.S. Treasury securities		2,456,959	+ 137	- 6,902
Bills²		0	0	0
Notes and bonds, nominal²		2,327,698	0	- 11,805
Notes and bonds, inflation-indexed²		109,537	0	+ 2,840
Inflation compensation³		19,724	+ 136	+ 2,063
Federal agency debt securities²		4,391	0	- 14,102
Mortgage-backed securities⁴		1,767,095	- 11,588	+ 26,421
Unamortized premiums on securities held outright⁵		160,163	- 581	- 14,616
Unamortized discounts on securities held outright⁵		-14,225	+ 26	+ 1,004
Repurchase agreements⁶		0	0	0
Loans		67	+ 11	+ 27
Net portfolio holdings of Maiden Lane LLC⁷		1,709	- 1	+ 2
Items in process of collection	(0)	57	- 11	0
Bank premises		2,211	+ 2	+ 1
Central bank liquidity swaps⁸		35	0	- 1,305
Foreign currency denominated assets⁹		21,296	+ 65	+ 1,558
Other assets¹⁰		20,766	- 79	+ 195

Total assets	(0)	4,438,592	- 12,023	- 7,715

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 29, 2017	Change since
			Wednesday	Wednesday
			Nov 22, 2017	Nov 30, 2016
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,552,706	+ 1,061	+ 104,075
Reverse repurchase agreements¹¹		294,644	+ 11,394	- 168,047
Deposits	(0)	2,542,512	- 24,259	+ 54,542
Term deposits held by depository institutions		0	0	0
Other deposits held by depository institutions		2,271,173	- 58,661	+ 255,860
U.S. Treasury, General Account		178,685	+ 26,902	- 243,349
Foreign official		5,167	+ 2	- 2
Other¹²	(0)	87,488	+ 7,499	+ 42,034
Deferred availability cash items	(0)	1,504	+ 962	+ 67
Other liabilities and accrued dividends¹³		5,908	- 1,256	+ 708

Total liabilities	(0)	4,397,274	- 12,098	- 8,654

Capital accounts
Capital paid in		31,318	+ 75	+ 939
Surplus		10,000	0	0
Other capital accounts		0	0	0

Total capital		41,318	+ 75	+ 939

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

1.	Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2.	Face value of the securities.
3.	Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4.	Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5.	Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6.	Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7.	Refer to table 4 and the note on consolidation accompanying table 6.
8.	Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9.	Revalued daily at current foreign currency exchange rates.
10.	Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11.	Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12.	Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13.	Includes the liability for earnings remittances due to the U.S. Treasury.

6. Statement of Condition of Each Federal Reserve Bank, November 29, 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	1,833	47	44	184	139	270	191	289	33	51	104	187	293
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,374,449	85,230	2,463,179	112,945	126,853	256,299	257,492	184,010	58,333	34,122	62,051	175,124	558,812
Securities held outright¹	4,228,444	82,386	2,381,002	109,177	122,621	247,747	248,902	177,843	56,385	32,967	59,969	169,277	540,168
U.S. Treasury securities	2,456,959	47,871	1,383,493	63,438	71,250	143,955	144,626	103,337	32,763	19,156	34,845	98,359	313,867
Bills²	0	0	0	0	0	0	0	0	0	0	0	0	0
Notes and bonds³	2,456,959	47,871	1,383,493	63,438	71,250	143,955	144,626	103,337	32,763	19,156	34,845	98,359	313,867
Federal agency debt securities²	4,391	86	2,473	113	127	257	258	185	59	34	62	176	561
Mortgage-backed securities⁴	1,767,095	34,430	995,037	45,626	51,244	103,535	104,018	74,322	23,564	13,777	25,062	70,742	225,740
Unamortized premiums on securities held outright⁵	160,163	3,121	90,187	4,135	4,645	9,384	9,428	6,736	2,136	1,249	2,271	6,412	20,460
Unamortized discounts on securities held outright⁵	-14,225	-277	-8,010	-367	-413	-833	-837	-598	-190	-111	-202	-569	-1,817
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	67	1	0	0	0	1	0	29	1	17	12	4	1
Net portfolio holdings of Maiden
Lane LLC⁷	1,709	0	1,709	0	0	0	0	0	0	0	0	0	0
Items in process of collection	57	0	0	0	0	0	57	0	0	0	0	0	0
Bank premises	2,211	115	444	72	129	197	203	204	110	88	236	219	193
Central bank liquidity swaps⁸	35	2	11	2	3	8	2	1	0	0	0	0	5
Foreign currency denominated
assets⁹	21,296	923	6,820	1,145	1,735	4,602	1,242	891	233	90	207	272	3,136
Other assets¹⁰	20,766	440	11,131	524	600	1,435	1,228	865	467	173	351	947	2,605
Interdistrict settlement account	0	- 4,398	- 15,821	- 3,879	+ 2,980	+ 3,787	+ 6,135	+ 52,398	- 1,869	+ 3,882	+ 3,612	+ 238	- 47,065

Total assets	4,438,592	82,904	2,472,928	111,550	133,229	267,786	268,724	239,820	57,797	38,688	67,006	178,186	519,975

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 29, 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	1,739,217	56,954	573,741	54,519	84,286	120,111	240,239	116,689	52,286	31,173	48,094	141,508	219,617
Less: Notes held by F.R. Banks	186,511	6,506	52,018	6,854	9,387	13,755	26,030	11,944	5,498	3,109	5,725	17,376	28,310
Federal Reserve notes, net	1,552,706	50,448	521,723	47,665	74,899	106,356	214,209	104,746	46,787	28,065	42,370	124,133	191,307
Reverse repurchase agreements¹¹	294,644	5,741	165,912	7,608	8,544	17,263	17,344	12,392	3,929	2,297	4,179	11,796	37,640
Deposits	2,542,512	24,753	1,769,648	53,727	46,175	134,569	34,283	120,611	6,422	6,550	19,892	41,480	284,402
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	2,271,173	24,746	1,558,556	53,725	46,172	134,304	34,274	60,665	6,416	6,550	19,891	41,479	284,395
U.S. Treasury, General Account	178,685	0	178,685	0	0	0	0	0	0	0	0	0	0
Foreign official	5,167	2	5,140	2	3	9	2	2	0	0	0	1	6
Other¹²	87,488	5	27,267	0	0	256	7	59,945	6	0	1	0	1
Deferred availability cash items	1,504	0	0	0	0	0	65	0	0	1,439	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,126	25	587	31	43	48	93	36	29	11	15	56	154
Other liabilities and accrued dividends	4,782	168	1,969	198	217	608	334	286	133	141	143	205	380

Total liabilities	4,397,274	81,134	2,459,839	109,229	129,879	258,844	266,327	238,071	57,301	38,502	66,598	177,668	513,882

Capital
Capital paid in	31,318	1,336	9,888	1,783	2,535	6,781	1,814	1,331	387	143	311	390	4,620
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	4,438,592	82,904	2,472,928	111,550	133,229	267,786	268,724	239,820	57,797	38,688	67,006	178,186	519,975

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 29, 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, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13.	Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $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 29, 2017
Federal Reserve notes outstanding	1,739,217
Less: Notes held by F.R. Banks not subject to collateralization	186,511
Federal Reserve notes to be collateralized	1,552,706
Collateral held against Federal Reserve notes	1,552,706
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,536,469
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,228,444
Less: Face value of securities under reverse repurchase agreements	287,112
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,941,332

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