FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                December 21, 2017


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 20, 2017 
Federal Reserve Banks                                     Dec 20, 2017 Dec 13, 2017 Dec 21, 2016              

Reserve Bank credit                                         4,408,292   +    7,530   -   15,274    4,407,899  
  Securities held outright (1)                              4,234,009   +    6,369   +    3,111    4,234,079  
    U.S. Treasury securities                                2,454,244   -       18   -    9,309    2,454,237  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,324,404            0   -   14,699    2,324,404  
      Notes and bonds, inflation-indexed (2)                  110,134            0   +    3,437      110,134  
      Inflation compensation (3)                               19,706   -       18   +    1,953       19,699  
    Federal agency debt securities (2)                          4,391            0   -   11,970        4,391  
    Mortgage-backed securities (4)                          1,775,374   +    6,388   +   24,391    1,775,451  
  Unamortized premiums on securities held outright (5)        159,695   -       94   -   14,250      159,519  
  Unamortized discounts on securities held outright (5)       -14,166   +       32   +      974      -14,153  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           110   +       66   +       75          112  
    Primary credit                                                 77   +       69   +       70           77  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                33   -        3   +        5           35  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,712   +        1   +        5        1,712  
  Float                                                          -215   +       45   +      177         -159  
  Central bank liquidity swaps (8)                                 57   +       15   -    4,686           57  
  Other Federal Reserve assets (9)                             27,089   +    1,095   -      681       26,732  
Foreign currency denominated assets (10)                       21,160   +       85   +    1,831       21,206  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,329   +       14   +      817       49,329  
                                                                                                              
Total factors supplying reserve funds                       4,495,021   +    7,628   -   12,628    4,494,674  

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 20, 2017 
Federal Reserve Banks                                     Dec 20, 2017 Dec 13, 2017 Dec 21, 2016              

Currency in circulation (11)                                 1,603,997   +    1,557   +  104,689    1,607,915 
Reverse repurchase agreements (12)                             328,627   +    6,216   -  164,145      349,802 
  Foreign official and international accounts                  227,801   +    2,769   -   27,381      222,220 
  Others                                                       100,826   +    3,448   -  136,764      127,582 
Treasury cash holdings                                             204   +        4   +       45          191 
Deposits with F.R. Banks, other than reserve balances          244,274   +   82,891   -  201,433      251,378 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               155,612   +   79,404   -  232,885      170,817 
  Foreign official                                               5,297   +       56   +       98        5,253 
  Other (13)                                                    83,365   +    3,432   +   31,353       75,308 
Other liabilities and capital (14)                              48,756   +      359   +    2,062       48,248 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,225,858   +   91,027   -  258,782    2,257,534 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,269,164   -   83,398   +  246,155    2,237,141 

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  
                                                           Week ended    Change from week ended  Dec 20, 2017 
                                                          Dec 20, 2017 Dec 13, 2017 Dec 21, 2016              

Securities held in custody for foreign official and       
     international accounts                                  3,372,657   -   11,996   +  200,803    3,365,606 
  Marketable U.S. Treasury securities (1)                    3,030,979   -   11,094   +  181,293    3,024,798 
  Federal agency debt and mortgage-backed securities (2)       263,606   -      546   +      836      262,740 
  Other securities (3)                                          78,072   -      357   +   18,674       78,068 
Securities lent to dealers                                      21,635   +      772   -       37       24,410 
  Overnight facility (4)                                        21,635   +      772   -       37       24,410 
    U.S. Treasury securities                                    21,635   +      772   -       15       24,410 
    Federal agency debt securities                                   0            0   -       22            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, December 20, 2017   

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                                          112             0             0             0             0           ...           112 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  17,504        79,556       328,412     1,095,449       310,416       622,901     2,454,237 
  Weekly changes                        +   17,504    -   17,504             0    -        2    -        4    -       11    -       19 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0         1,982            62             0         2,347         4,391 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             1           178        20,367     1,754,906     1,775,451 
  Weekly changes                                 0             0             0    +       19    -       64    -    4,739    -    4,786 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                57             0             0             0             0             0            57 
                                                                                                                                       
Reverse repurchase agreements (4)          349,802             0           ...           ...           ...           ...       349,802 
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 20, 2017  

Mortgage-backed securities held outright (1)                                                                             1,775,451  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           17,147  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    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   
                                                                                                                      Dec 20, 2017  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,712  
                                                                                                                                    
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. 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     Wednesday         Change since       
                                                             from       Dec 20, 2017   Wednesday    Wednesday  
                                                        consolidation                Dec 13, 2017 Dec 21, 2016 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,892   +        9   +       20  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,379,557   -    5,210   -   17,551  
    Securities held outright (1)                                          4,234,079   -    4,804   -    4,148  
      U.S. Treasury securities                                            2,454,237   -       19   -    9,329  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,324,404            0   -   14,699  
        Notes and bonds, inflation-indexed (2)                              110,134            0   +    3,437  
        Inflation compensation (3)                                           19,699   -       18   +    1,933  
      Federal agency debt securities (2)                                      4,391            0   -   11,789  
      Mortgage-backed securities (4)                                      1,775,451   -    4,786   +   16,970  
    Unamortized premiums on securities held outright  
    (5)                                                                     159,519   -      517   -   14,448  
    Unamortized discounts on securities held outright 
    (5)                                                                     -14,153   +       34   +      974  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       112   +       77   +       70  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,712            0   +        5  
  Items in process of collection                                   (0)           77   +        7   +       11  
  Bank premises                                                               2,214   +        2   +       10  
  Central bank liquidity swaps (8)                                               57   +       15   -    4,686  
  Foreign currency denominated assets (9)                                    21,206   +      124   +    1,888  
  Other assets (10)                                                          24,519   -      203   -    1,315  
                                                                                                               
Total assets                                                       (0)    4,447,470   -    5,256   -   21,619  

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 20, 2017   Wednesday    Wednesday  
                                                        consolidation                Dec 13, 2017 Dec 21, 2016 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,560,665   +    3,888   +  104,164 
  Reverse repurchase agreements (11)                                         349,802   -   22,327   -  210,370 
  Deposits                                                          (0)    2,488,520   +   14,069   +   82,914 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,237,142   -   85,620   +  274,375 
    U.S. Treasury, General Account                                           170,817   +  106,083   -  216,197 
    Foreign official                                                           5,253   +        1   +       72 
    Other (12)                                                      (0)       75,308   -    6,395   +   24,665 
  Deferred availability cash items                                  (0)          236   -       86   -      239 
  Other liabilities and accrued dividends (13)                                 6,925   -      801   +    1,032 
                                                                                                               
Total liabilities                                                   (0)    4,406,148   -    5,257   -   22,499 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,322   +        1   +      880 
  Surplus                                                                     10,000            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 41,322   +        1   +      880 

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, December 20, 2017
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         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                                             1,892          49          48          188         144         269         197         299          37          52         108         194         307
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,379,557      85,328   2,466,067      113,076     127,000     256,594     257,790     184,205      58,399      34,158      62,122     175,328     559,490
    Securities held outright (1)               4,234,079      82,496   2,384,175      109,322     122,784     248,077     249,233     178,080      56,460      33,011      60,049     169,503     540,888
      U.S. Treasury securities                 2,454,237      47,818   1,381,961       63,367      71,171     143,795     144,465     103,222      32,727      19,134      34,807      98,250     313,520
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,454,237      47,818   1,381,961       63,367      71,171     143,795     144,465     103,222      32,727      19,134      34,807      98,250     313,520
      Federal agency debt securities (2)           4,391          86       2,473          113         127         257         258         185          59          34          62         176         561
      Mortgage-backed securities (4)           1,775,451      34,592     999,742       45,841      51,486     104,025     104,510      74,673      23,675      13,842      25,180      71,077     226,807
    Unamortized premiums on securities held 
      outright (5)                               159,519       3,108      89,824        4,119       4,626       9,346       9,390       6,709       2,127       1,244       2,262       6,386      20,378
    Unamortized discounts on securities     
      held outright (5)                          -14,153        -276      -7,970         -365        -410        -829        -833        -595        -189        -110        -201        -567      -1,808
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            112           0          37            0           0           0           0          11           0          13          11           6          32
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,712           0       1,712            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      77           0           0            0           0           0          76           0           0           1           0           0           0
  Bank premises                                    2,214         115         444           72         131         198         204         204         110          88         236         219         192
  Central bank liquidity swaps (8)                    57           2          18            3           5          12           3           2           1           0           1           1           8
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,206         919       6,792        1,140       1,727       4,582       1,237         888         232          90         206         271       3,122
  Other assets (10)                               24,519         523      13,335          628         716       1,620       1,458       1,028         385         207         412       1,101       3,107
  Interdistrict settlement account                     0  +    4,627  -   62,321   -    3,664  -      437  +   16,278  +   14,738  +   45,015  -      724  +    2,569  +    6,896  +    1,680  -   24,656
                                                                                                                                                                                                         
Total assets                                   4,447,470      92,109   2,431,505      112,000     130,075     280,741     277,876     232,803      58,931      37,444      70,426     179,993     543,567

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 20, 2017 (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            1,748,115      57,272     578,652      54,312      83,869     119,604     244,505     116,153      52,122      31,108      47,996     140,963     221,559
    Less: Notes held by F.R. Banks               187,450       6,491      52,104       6,883       9,552      14,160      26,009      11,859       5,529       3,162       6,065      17,311      28,326
      Federal Reserve notes, net               1,560,665      50,781     526,548      47,429      74,317     105,444     218,496     104,294      46,593      27,946      41,932     123,653     193,233
  Reverse repurchase agreements (11)             349,802       6,815     196,971       9,032      10,144      20,495      20,591      14,712       4,665       2,727       4,961      14,004      44,686
  Deposits                                     2,488,520      32,533   1,691,646      52,968      41,985     145,189      35,857     111,676       7,010       6,264      22,956      41,533     298,903
    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                           2,237,142      32,524   1,495,734      52,966      41,982     144,976      35,848      56,459       7,007       6,264      22,954      41,532     298,896
    U.S. Treasury, General Account               170,817           0     170,817           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,253           2       5,226           2           3           9           2           2           0           0           0           1           6
    Other (12)                                    75,308           7      19,870           0           0         205           7      55,215           3           0           1           0           1
  Deferred availability cash items                   236           0           0           0           0           0          73           0           0         162           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,090          31         559          34          35          45          95          40          22          11          30          55         133
  Other liabilities and accrued             
     dividends                                     5,836         180       2,685         217         246         626         368         331         145         146         140         232         520
                                                                                                                                                                                                        
Total liabilities                              4,406,148      90,340   2,418,409     109,680     126,728     271,799     275,479     231,053      58,434      37,258      70,018     179,477     537,474
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,322       1,336       9,894       1,783       2,533       6,781       1,814       1,331         387         144         311         389       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                  4,447,470      92,109   2,431,505     112,000     130,075     280,741     277,876     232,803      58,931      37,444      70,426     179,993     543,567

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 20, 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   
                                                                                          Dec 20, 2017  

Federal Reserve notes outstanding                                                            1,748,115  
  Less: Notes held by F.R. Banks not subject to collateralization                              187,450  
    Federal Reserve notes to be collateralized                                               1,560,665  
Collateral held against Federal Reserve notes                                                1,560,665  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,544,428  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,234,079  
  Less: Face value of securities under reverse repurchase agreements                           338,459  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,895,620  

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.