FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                December 24, 2015


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Dec 23, 2015 
Federal Reserve Banks                                     Dec 23, 2015 Dec 16, 2015 Dec 24, 2014              

Reserve Bank credit                                         4,460,788   +    6,308   -   10,780    4,458,298  
  Securities held outright (1)                              4,254,758   +    4,558   +    4,806    4,252,267  
    U.S. Treasury securities                                2,461,570   -       12   +      118    2,461,566  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,346,639            0   -       73    2,346,639  
      Notes and bonds, inflation-indexed (2)                   98,534            0   +       65       98,534  
      Inflation compensation (3)                               16,397   -       12   +      126       16,393  
    Federal agency debt securities (2)                         32,944            0   -    5,733       32,944  
    Mortgage-backed securities (4)                          1,760,243   +    4,569   +   10,421    1,757,757  
  Unamortized premiums on securities held outright (5)        190,471   -      162   -   17,290      190,224  
  Unamortized discounts on securities held outright (5)       -16,621   +       34   +    1,820      -16,609  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            99   +       28   -       13           73  
    Primary credit                                                 31   +       25   -        1            2  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                68   +        3   -       12           71  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,716   +        1   +       38        1,715  
  Float                                                           -64   -       21   +      409         -288  
  Central bank liquidity swaps (8)                                926   +      788   +      896          926  
  Other Federal Reserve assets (9)                             29,504   +    1,083   -    1,446       29,990  
Foreign currency denominated assets (10)                       19,584   -      118   -    1,547       19,609  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             47,553   +       14   +    1,258       47,553  
                                                                                                              
Total factors supplying reserve funds                       4,544,166   +    6,205   -   11,068    4,541,701  

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                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Dec 23, 2015 
Federal Reserve Banks                                     Dec 23, 2015 Dec 16, 2015 Dec 24, 2014              

Currency in circulation (11)                                 1,416,675   +    4,054   +   83,818    1,421,758 
Reverse repurchase agreements (12)                             358,904   +   63,802   +   78,457      389,586 
  Foreign official and international accounts                  207,598   +    3,704   +  109,324      211,254 
  Others                                                       151,307   +   60,099   -   30,866      178,332 
Treasury cash holdings                                             251   +        5   +       60          254 
Deposits with F.R. Banks, other than reserve balances          292,703   +   66,150   +   97,158      293,235 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               267,608   +   71,265   +   92,515      266,131 
  Foreign official                                               5,231   -       90   +       18        5,230 
  Other (13)                                                    19,863   -    5,026   +    4,624       21,874 
Other liabilities and capital (14)                              67,060   -      817   +    2,667       65,789 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,135,593   +  133,194   +  262,159    2,170,623 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,408,573   -  126,989   -  273,228    2,371,078 

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.                        
14. Includes the liability for interest on Federal Reserve notes due to 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  
                                                           Week ended    Change from week ended  Dec 23, 2015 
                                                          Dec 23, 2015 Dec 16, 2015 Dec 24, 2014              

Securities held in custody for foreign official and       
     international accounts                                  3,309,666   -      579   +    1,535    3,320,574 
  Marketable U.S. Treasury securities (1)                    2,992,259   +      775   +   19,327    3,004,947 
  Federal agency debt and mortgage-backed securities (2)       270,824   -    1,589   -   22,564      268,953 
  Other securities (3)                                          46,584   +      236   +    4,773       46,674 
Securities lent to dealers                                      14,929   +      851   +    2,553       15,301 
  Overnight facility (4)                                        14,929   +      851   +    2,553       15,301 
    U.S. Treasury securities                                    14,807   +      866   +    3,089       15,180 
    Federal agency debt securities                                 123   -       14   -      535          121 

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 23, 2015   

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           73             0             0             0             0           ...            73 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       0        38,619       165,795     1,124,293       494,988       637,871     2,461,566 
  Weekly changes                                 0             0             0    -        2    -        2    -        7    -       12 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0         3,687        13,077        13,833             0         2,347        32,944 
  Weekly changes                                 0             0    +    1,269    -    1,269             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0           481         9,186     1,748,091     1,757,757 
  Weekly changes                                 0             0             0             0    -        1    +    4,602    +    4,600 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)               926             0             0             0             0             0           926 
                                                                                                                                       
Reverse repurchase agreements (4)          389,586             0           ...           ...           ...           ...       389,586 
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   
                                                                                                                      Dec 23, 2015  

Mortgage-backed securities held outright (1)                                                                             1,757,757  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           21,455  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   42  



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   
                                                                                                                      Dec 23, 2015  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,715  
                                                                                                                                    
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                        0  
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                             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, 2015. 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     Wednesday         Change since       
                                                             from       Dec 23, 2015   Wednesday    Wednesday  
                                                        consolidation                Dec 16, 2015 Dec 24, 2014 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,897   -        3   +       26  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,425,955   +    4,426   -   10,679  
    Securities held outright (1)                                          4,252,267   +    4,589   +    4,793  
      U.S. Treasury securities                                            2,461,566   -       12   +      146  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,346,639            0   -       73  
        Notes and bonds, inflation-indexed (2)                               98,534            0   +       65  
        Inflation compensation (3)                                           16,393   -       12   +      154  
      Federal agency debt securities (2)                                     32,944            0   -    5,733  
      Mortgage-backed securities (4)                                      1,757,757   +    4,600   +   10,380  
    Unamortized premiums on securities held outright  
    (5)                                                                     190,224   -      194   -   17,242  
    Unamortized discounts on securities held outright 
    (5)                                                                     -16,609   +       32   +    1,816  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        73   -        1   -       46  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,715   -        1   +       37  
  Items in process of collection                                   (0)          193   -      106   +       67  
  Bank premises                                                               2,234   +        2   -       31  
  Central bank liquidity swaps (8)                                              926   +      788   +      896  
  Foreign currency denominated assets (9)                                    19,609   -        8   -    1,432  
  Other assets (10)                                                          27,757   +    1,832   -    1,823  
                                                                                                               
Total assets                                                       (0)    4,496,523   +    6,930   -   12,939  

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     Wednesday         Change since       
                                                             from       Dec 23, 2015   Wednesday    Wednesday  
                                                        consolidation                Dec 16, 2015 Dec 24, 2014 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,376,353   +    7,368   +   82,106 
  Reverse repurchase agreements (11)                                         389,586   +   82,868   +   90,753 
  Deposits                                                          (0)    2,664,314   -   83,177   -  188,133 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,371,079   -   88,974   -  238,556 
    U.S. Treasury, General Account                                           266,131   -       56   +   88,220 
    Foreign official                                                           5,230   -        1   +       21 
    Other (12)                                                      (0)       21,874   +    5,854   -   37,818 
  Deferred availability cash items                                  (0)          482   +      149   -      176 
  Other liabilities and accrued dividends (13)                                 7,069   -      277   +      927 
                                                                                                               
Total liabilities                                                   (0)    4,437,804   +    6,930   -   14,523 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             29,360   +        1   +      792 
  Surplus                                                                     29,360   +        1   +      792 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 58,720   +        1   +    1,585 

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.                        
13. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.                      

 



6. Statement of Condition of Each Federal Reserve Bank, December 23, 2015
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         347       3,709          340         505         783       1,600         734         299         171         288         891       1,370
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,897          46          71          131         136         301         188         281          31          48         150         196         317
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,425,955     112,194   2,656,910      110,079     106,409     240,387     249,231     164,445      46,164      26,969      57,502     142,572     513,095
    Securities held outright (1)               4,252,267     107,793   2,552,687      105,761     102,235     230,956     239,454     157,991      44,345      25,861      55,239     136,979     492,967
      U.S. Treasury securities                 2,461,566      62,399   1,477,708       61,223      59,182     133,696     138,616      91,458      25,670      14,970      31,977      79,295     285,371
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,461,566      62,399   1,477,708       61,223      59,182     133,696     138,616      91,458      25,670      14,970      31,977      79,295     285,371
      Federal agency debt securities (2)          32,944         835      19,777          819         792       1,789       1,855       1,224         344         200         428       1,061       3,819
      Mortgage-backed securities (4)           1,757,757      44,558   1,055,203       43,718      42,261      95,470      98,983      65,309      18,331      10,690      22,834      56,623     203,778
    Unamortized premiums on securities held 
      outright (5)                               190,224       4,822     114,194        4,731       4,573      10,332      10,712       7,068       1,984       1,157       2,471       6,128      22,053
    Unamortized discounts on securities     
      held outright (5)                          -16,609        -421      -9,971         -413        -399        -902        -935        -617        -173        -101        -216        -535      -1,925
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             73           0           0            0           0           1           0           3           9          52           7           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,715           0       1,715            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     193           0           0            0           0           0         191           0           0           2           0           0           0
  Bank premises                                    2,234         126         438           75         106         213         207         204         118          92         239         220         197
  Central bank liquidity swaps (8)                   926          42         298           52          72         213          53          25           9           4          10          13         136
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   19,609         889       6,322        1,096       1,528       4,499       1,116         527         183          82         206         282       2,879
  Other assets (10)                               27,757         739      16,113          697         674       1,688       1,570       1,049         351         194         402       1,052       3,227
  Interdistrict settlement account                     0  -    9,590  -  149,174   +    5,922  +   26,422  +   18,310  +    5,758  +   22,200  +   11,887  +    6,717  +    3,799  +   17,852  +   39,896
                                                                                                                                                                                                         
Total assets                                   4,496,523     104,988   2,538,221      118,602     136,090     266,805     260,567     189,889      59,192      34,369      62,749     163,361     561,690

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 23, 2015 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,552,032      49,614     499,259      49,491      83,012     106,966     219,150     103,315      51,794      26,886      40,843     125,825     195,876
    Less: Notes held by F.R. Banks               175,679       5,110      66,152       5,673       8,492      11,504      21,116       9,765       4,452       2,519       4,456      13,227      23,214
      Federal Reserve notes, net               1,376,353      44,504     433,108      43,818      74,520      95,462     198,034      93,550      47,342      24,367      36,388     112,598     172,662
  Reverse repurchase agreements (11)             389,586       9,876     233,873       9,690       9,367      21,160      21,938      14,475       4,063       2,369       5,061      12,550      45,165
  Deposits                                     2,664,314      47,781   1,848,568      61,579      47,421     136,216      36,677      79,946       7,043       6,944      20,542      37,094     334,503
    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                           2,371,079      47,777   1,562,880      61,577      47,418     136,060      36,668      72,597       7,034       6,944      20,540      37,091     334,492
    U.S. Treasury, General Account               266,131           0     266,131           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,230           2       5,203           2           3           9           2           1           0           0           0           1           6
    Other (12)                                    21,874           2      14,354           0           0         147           7       7,348           8           0           1           2           5
  Deferred availability cash items                   482           0           0           0           0           0         188           0           0         294           0           0           0
  Interest on Federal Reserve notes due     
     to U.S. Treasury (13)                         1,781          42       1,099          41          41          87         106          62           5           8          23          60         205
  Other liabilities and accrued             
     dividends                                     5,288         177       2,285         227         245         717         347         274         133         134         125         186         438
                                                                                                                                                                                                        
Total liabilities                              4,437,804     102,380   2,518,933     115,355     131,594     253,642     257,290     188,307      58,586      34,117      62,139     162,488     552,973
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 29,360       1,304       9,644       1,624       2,248       6,582       1,639         791         303         126         305         436       4,359
  Surplus                                         29,360       1,304       9,644       1,624       2,248       6,582       1,639         791         303         126         305         436       4,359
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,496,523     104,988   2,538,221     118,602     136,090     266,805     260,567     189,889      59,192      34,369      62,749     163,361     561,690

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 23, 2015 (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.                               
13. Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to      
    capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the     
    Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires
    the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount    
    necessary to equate surplus with capital paid-in.                                                                                                                                                   
                                                                                                                                                                                                            


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   
                                                                                          Dec 23, 2015  

Federal Reserve notes outstanding                                                            1,552,032  
  Less: Notes held by F.R. Banks not subject to collateralization                              175,679  
    Federal Reserve notes to be collateralized                                               1,376,353  
Collateral held against Federal Reserve notes                                                1,376,353  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,360,116  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,252,267  
  Less: Face value of securities under reverse repurchase agreements                           367,501  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,884,766  

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.