FRB: H.4.1 Release-- Factors Affecting Reserve Balances -- Thursday, September 6, 2018

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks	September 6, 2018

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Sep 5, 2018
	Week ended Sep 5, 2018	Change from week ended
	Week ended Sep 5, 2018	Aug 29, 2018	Sep 6, 2017
Reserve Bank credit	4,169,309	- 16,355	- 243,265	4,168,781
Securities held outright¹	4,014,244	- 15,302	- 225,361	4,012,617
U.S. Treasury securities	2,314,829	- 9,742	- 150,466	2,313,202
Bills²	100	0	+ 100	100
Notes and bonds, nominal²	2,177,374	- 10,632	- 159,752	2,175,602
Notes and bonds, inflation-indexed²	115,438	+ 846	+ 6,026	115,579
Inflation compensation³	21,917	+ 44	+ 3,160	21,921
Federal agency debt securities²	2,409	0	- 4,348	2,409
Mortgage-backed securities⁴	1,697,006	- 5,560	- 70,547	1,697,006
Unamortized premiums on securities held outright⁵	146,411	- 373	- 16,935	146,268
Unamortized discounts on securities held outright⁵	-13,790	+ 6	+ 766	-13,776
Repurchase agreements⁶	0	0	0	0
Loans	239	- 54	+ 30	261
Primary credit	10	- 14	+ 7	1
Secondary credit	0	0	0	0
Seasonal credit	229	- 41	+ 23	260
Other credit extensions	0	0	0	0
Net portfolio holdings of Maiden Lane LLC⁷	1,719	- 1	+ 11	1,719
Float	-540	- 324	- 126	-501
Central bank liquidity swaps⁸	90	- 2	+ 55	90
Other Federal Reserve assets⁹	20,936	- 306	- 1,704	22,104
Foreign currency denominated assets¹⁰	21,057	- 28	- 450	21,034
Gold stock	11,041	0	0	11,041
Special drawing rights certificate account	5,200	0	0	5,200
Treasury currency outstanding¹¹	49,743	+ 14	+ 639	49,743

Total factors supplying reserve funds	4,256,350	- 16,368	- 243,075	4,255,799

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

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

Millions of dollars

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks	Averages of daily figures			Wednesday Sep 5, 2018
	Week ended Sep 5, 2018	Change from week ended
	Week ended Sep 5, 2018	Aug 29, 2018	Sep 6, 2017
Currency in circulation¹¹	1,685,662	+ 9,288	+ 110,562	1,688,628
Reverse repurchase agreements¹²	236,679	- 5,559	- 150,003	229,652
Foreign official and international accounts	236,229	- 3,200	- 8,374	229,642
Others	450	- 2,359	- 141,629	10
Treasury cash holdings	211	- 5	+ 42	208
Deposits with F.R. Banks, other than reserve balances	394,921	- 29,531	+ 271,296	395,380
Term deposits held by depository institutions	0	- 2,487	0	0
U.S. Treasury, General Account	323,764	- 18,779	+ 286,201	324,437
Foreign official	5,256	0	+ 88	5,256
Other¹³	65,901	- 8,264	- 14,992	65,686
Other liabilities and capital¹⁴	43,866	- 1,649	- 3,855	44,030

Total factors, other than reserve balances, absorbing reserve funds	2,361,340	- 27,454	+ 228,044	2,357,898

Reserve balances with Federal Reserve Banks	1,895,010	+ 11,086	- 471,119	1,897,901

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 Sep 5, 2018
	Week ended Sep 5, 2018	Change from week ended
	Week ended Sep 5, 2018	Aug 29, 2018	Sep 6, 2017
Securities held in custody for foreign official and international accounts	3,428,848	- 208	+ 63,097	3,432,256
Marketable U.S. Treasury securities¹	3,060,274	+ 405	+ 20,266	3,064,214
Federal agency debt and mortgage-backed securities²	298,558	- 171	+ 34,489	298,458
Other securities³	70,016	- 442	+ 8,342	69,584
Securities lent to dealers	17,288	- 704	- 10,244	16,990
Overnight facility⁴	17,288	- 704	- 10,244	16,990
U.S. Treasury securities	17,288	- 704	- 10,244	16,990
Federal agency debt securities	0	0	0	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, September 5, 2018

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	33	227	0	0	0	...	261
U.S. Treasury securities¹
Holdings	0	102,160	315,819	1,010,628	267,464	617,130	2,313,202
Weekly changes	- 20,932	+ 24,916	- 10,242	- 5,412	+ 275	+ 7	- 11,387
Federal agency debt securities²
Holdings	0	0	62	0	0	2,347	2,409
Weekly changes	0	0	0	0	0	0	0
Mortgage-backed securities³
Holdings	0	0	0	153	44,511	1,652,342	1,697,006
Weekly changes	0	0	0	+ 9	+ 1,874	- 1,882	0
Repurchase agreements⁴	0	0	...	...	...	...	0
Central bank liquidity swaps⁵	90	0	0	0	0	0	90

Reverse repurchase agreements⁴	229,652	0	...	...	...	...	229,652
Term deposits	0	0	0	...	...	...	0

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

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

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name	Wednesday
Account name	Sep 5, 2018
Mortgage-backed securities held outright¹	1,697,006

Commitments to buy mortgage-backed securities²	7,734
Commitments to sell mortgage-backed securities²	15

Cash and cash equivalents³	0

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

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name	Wednesday
Account name	Sep 5, 2018
Net portfolio holdings of Maiden Lane LLC¹	1,719

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 Sep 5, 2018	Change since
			Wednesday	Wednesday
			Aug 29, 2018	Sep 6, 2017
Assets
Gold certificate account		11,037	0	0
Special drawing rights certificate account		5,200	0	0
Coin		1,755	- 13	- 79
Securities, unamortized premiums and discounts, repurchase agreements, and loans		4,145,369	- 11,689	- 243,155
Securities held outright¹		4,012,617	- 11,387	- 226,982
U.S. Treasury securities		2,313,202	- 11,387	- 152,087
Bills²		100	0	+ 100
Notes and bonds, nominal²		2,175,602	- 12,404	- 161,524
Notes and bonds, inflation-indexed²		115,579	+ 987	+ 6,167
Inflation compensation³		21,921	+ 30	+ 3,170
Federal agency debt securities²		2,409	0	- 4,348
Mortgage-backed securities⁴		1,697,006	0	- 70,547
Unamortized premiums on securities held outright⁵		146,268	- 260	- 16,992
Unamortized discounts on securities held outright⁵		-13,776	+ 9	+ 771
Repurchase agreements⁶		0	0	0
Loans		261	- 50	+ 49
Net portfolio holdings of Maiden Lane LLC⁷		1,719	+ 1	+ 11
Items in process of collection	(0)	188	+ 112	+ 92
Bank premises		2,179	- 4	- 18
Central bank liquidity swaps⁸		90	- 2	+ 55
Foreign currency denominated assets⁹		21,034	- 64	- 589
Other assets¹⁰		19,924	+ 1,239	- 1,296

Total assets	(0)	4,208,496	- 10,418	- 244,978

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

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

Millions of dollars

Assets, liabilities, and capital	Eliminations from consolidation	Wednesday Sep 5, 2018	Change since
			Wednesday	Wednesday
			Aug 29, 2018	Sep 6, 2017
Liabilities
Federal Reserve notes, net of F.R. Bank holdings		1,640,845	+ 7,576	+ 109,480
Reverse repurchase agreements¹¹		229,652	- 2,780	- 162,271
Deposits	(0)	2,293,280	- 14,477	- 188,636
Term deposits held by depository institutions		0	- 2,487	0
Other deposits held by depository institutions		1,897,901	+ 17,394	- 459,147
U.S. Treasury, General Account		324,437	- 20,818	+ 285,775
Foreign official		5,256	- 1	+ 90
Other¹²	(0)	65,686	- 8,565	- 15,353
Deferred availability cash items	(0)	689	+ 115	- 60
Other liabilities and accrued dividends¹³		5,048	- 808	- 1,370

Total liabilities	(0)	4,169,514	- 10,374	- 242,857

Capital accounts
Capital paid in		32,157	- 45	+ 1,055
Surplus		6,825	0	- 3,175
Other capital accounts		0	0	0

Total capital		38,982	- 45	- 2,120

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, September 5, 2018

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	364	3,626	350	544	773	1,491	739	334	199	307	905	1,405
Special drawing rights certificate acct.	5,200	196	1,818	210	237	412	654	424	150	90	153	282	574
Coin	1,755	44	40	160	116	246	187	291	32	43	107	203	285
Securities, unamortized premiums and discounts, repurchase agreements, and loans	4,145,369	79,167	2,288,421	104,655	117,515	245,291	248,834	222,021	55,311	34,678	65,262	171,400	512,812
Securities held outright¹	4,012,617	76,637	2,215,276	101,310	113,759	237,451	240,864	214,907	53,421	33,485	63,168	165,921	496,417
U.S. Treasury securities	2,313,202	44,180	1,277,067	58,403	65,580	136,886	138,854	123,890	30,796	19,304	36,415	95,650	286,176
Bills²	100	2	55	3	3	6	6	5	1	1	2	4	12
Notes and bonds³	2,313,102	44,178	1,277,011	58,401	65,577	136,880	138,848	123,885	30,795	19,303	36,414	95,646	286,163
Federal agency debt securities²	2,409	46	1,330	61	68	143	145	129	32	20	38	100	298
Mortgage-backed securities⁴	1,697,006	32,411	936,879	42,846	48,111	100,422	101,866	90,888	22,593	14,161	26,715	70,171	209,944
Unamortized premiums on securities held outright⁵	146,268	2,794	80,751	3,693	4,147	8,656	8,780	7,834	1,947	1,221	2,303	6,048	18,095
Unamortized discounts on securities held outright⁵	-13,776	-263	-7,606	-348	-391	-815	-827	-738	-183	-115	-217	-570	-1,704
Repurchase agreements⁶	0	0	0	0	0	0	0	0	0	0	0	0	0
Loans	261	0	0	0	0	0	17	18	126	87	8	1	4
Net portfolio holdings of Maiden
Lane LLC⁷	1,719	0	1,719	0	0	0	0	0	0	0	0	0	0
Items in process of collection	188	0	0	0	0	0	187	0	0	1	0	0	0
Bank premises	2,179	109	443	76	117	195	204	196	106	95	233	218	188
Central bank liquidity swaps⁸	90	4	28	5	7	19	5	4	1	0	1	1	13
Foreign currency denominated
assets⁹	21,034	895	6,632	1,195	1,698	4,544	1,215	892	304	97	208	260	3,096
Other assets¹⁰	19,924	410	10,505	496	573	1,374	1,188	1,041	482	228	371	824	2,432
Interdistrict settlement account	0	- 126	- 2,930	- 7,377	+ 3,221	+ 7,146	+ 35,356	- 6,905	+ 2,440	+ 302	- 6,416	+ 7,899	- 32,609

Total assets	4,208,496	81,062	2,310,303	99,770	124,028	260,001	289,321	218,702	59,161	35,732	60,226	181,993	488,196

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

6. Statement of Condition of Each Federal Reserve Bank, September 5, 2018 (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	1,816,313	58,481	606,038	54,819	87,696	125,830	263,029	119,649	55,099	30,415	47,409	149,974	217,875
Less: Notes held by F.R. Banks	175,469	6,222	44,505	7,019	8,812	14,023	25,328	12,097	5,375	3,031	5,281	16,966	26,809
Federal Reserve notes, net	1,640,845	52,259	561,533	47,799	78,883	111,807	237,700	107,553	49,724	27,384	42,128	133,008	191,066
Reverse repurchase agreements¹¹	229,652	4,386	126,786	5,798	6,511	13,590	13,785	12,300	3,057	1,916	3,615	9,496	28,411
Deposits	2,293,280	22,597	1,607,675	43,710	35,301	125,693	35,012	96,885	5,630	5,604	13,940	38,740	262,492
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	1,897,901	22,563	1,258,374	43,708	35,207	125,194	34,976	51,695	5,621	5,549	13,920	38,609	262,485
U.S. Treasury, General Account	324,437	0	324,437	0	0	0	0	0	0	0	0	0	0
Foreign official	5,256	2	5,229	2	3	9	2	2	1	0	0	0	6
Other¹²	65,686	32	19,635	1	91	491	33	45,188	9	54	20	131	1
Deferred availability cash items	689	0	0	0	0	0	190	0	0	498	0	0	0
Earnings remittances due to the U.S. Treasury¹³	1,120	27	550	25	34	53	106	68	24	14	30	61	129
Other liabilities and accrued dividends	3,928	159	1,389	181	192	496	296	266	137	140	137	204	330

Total liabilities	4,169,514	79,429	2,297,933	97,514	120,921	251,639	287,090	217,071	58,573	35,555	59,851	181,510	482,428

Capital
Capital paid in	32,157	1,343	10,219	1,868	2,556	6,887	1,836	1,342	489	146	308	399	4,764
Surplus	6,825	290	2,151	388	551	1,474	394	289	98	31	68	84	1,005
Other capital	0	0	0	0	0	0	0	0	0	0	0	0	0

Total liabilities and capital	4,208,496	81,062	2,310,303	99,770	124,028	260,001	289,321	218,702	59,161	35,732	60,226	181,993	488,196

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

6. Statement of Condition of Each Federal Reserve Bank, September 5, 2018 (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 $6.825 billion surplus.

Note on consolidation:

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

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

Millions of dollars

Federal Reserve notes and collateral	Wednesday
Federal Reserve notes and collateral	Sep 5, 2018
Federal Reserve notes outstanding	1,816,313
Less: Notes held by F.R. Banks not subject to collateralization	175,469
Federal Reserve notes to be collateralized	1,640,845
Collateral held against Federal Reserve notes	1,640,845
Gold certificate account	11,037
Special drawing rights certificate account	5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged^1,2	1,624,608
Other assets pledged	0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities^1,2	4,012,617
Less: Face value of securities under reverse repurchase agreements	230,536
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged	3,782,081

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