FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 December 3, 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 2, 2015 
Federal Reserve Banks                                      Dec 2, 2015 Nov 25, 2015  Dec 3, 2014              

Reserve Bank credit                                         4,440,098   -   11,406   -    5,900    4,440,482  
  Securities held outright (1)                              4,239,343   -   10,588   +    9,222    4,239,334  
    U.S. Treasury securities                                2,461,610   -       39   -       34    2,461,601  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,346,639            0   -       74    2,346,639  
      Notes and bonds, inflation-indexed (2)                   98,534            0   +       65       98,534  
      Inflation compensation (3)                               16,437   -       39   -       26       16,428  
    Federal agency debt securities (2)                         32,944            0   -    5,733       32,944  
    Mortgage-backed securities (4)                          1,744,789   -   10,549   +   14,989    1,744,789  
  Unamortized premiums on securities held outright (5)        190,985   -      692   -   16,967      190,849  
  Unamortized discounts on securities held outright (5)       -16,717   +       34   +    1,823      -16,706  
  Repurchase agreements (6)                                        84   +       84   +       84          590  
  Loans                                                            87   -       33   -       18           72  
    Primary credit                                                  4   -       25   -        4            1  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                84   -        7   -       13           71  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,715   +        2   +       34        1,716  
  Float                                                           236   -       20   +      952           75  
  Central bank liquidity swaps (8)                                136   -        9   +      135          135  
  Other Federal Reserve assets (9)                             24,227   -      184   -    1,167       24,417  
Foreign currency denominated assets (10)                       19,192   -       75   -    2,240       19,197  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             47,453   +       14   +    1,179       47,453  
                                                                                                              
Total factors supplying reserve funds                       4,522,984   -   11,467   -    6,961    4,523,374  

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 2, 2015 
Federal Reserve Banks                                      Dec 2, 2015 Nov 25, 2015  Dec 3, 2014              

Currency in circulation (11)                                 1,411,288   +    4,859   +   93,322    1,411,953 
Reverse repurchase agreements (12)                             289,181   -   22,465   +   25,069      270,349 
  Foreign official and international accounts                  195,142   +    2,562   +   94,523      186,165 
  Others                                                        94,038   -   25,028   -   69,455       84,184 
Treasury cash holdings                                             239   -        4   +       50          251 
Deposits with F.R. Banks, other than reserve balances          237,134   +   40,957   -  197,558      243,200 
  Term deposits held by depository institutions                      0            0   -  334,714            0 
  U.S. Treasury, General Account                               212,756   +   49,265   +  125,330      217,267 
  Foreign official                                               5,413   +      549   +      164        5,221 
  Other (13)                                                    18,966   -    8,856   +   11,663       20,712 
Other liabilities and capital (14)                              66,241   -      107   +    2,699       65,430 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,004,083   +   23,240   -   76,418    1,991,184 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,518,901   -   34,707   +   69,457    2,532,190 

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 2, 2015 
                                                           Dec 2, 2015 Nov 25, 2015  Dec 3, 2014              

Securities held in custody for foreign official and       
     international accounts                                  3,324,275   +    1,883   +    2,527    3,324,806 
  Marketable U.S. Treasury securities (1)                    3,006,033   +    2,740   +   27,120    3,006,631 
  Federal agency debt and mortgage-backed securities (2)       272,113   -    1,217   -   28,198      272,073 
  Other securities (3)                                          46,129   +      360   +    3,605       46,102 
Securities lent to dealers                                      14,136   -      858   +    4,570       13,769 
  Overnight facility (4)                                        14,136   -      858   +    4,570       13,769 
    U.S. Treasury securities                                    14,046   -      869   +    5,124       13,666 
    Federal agency debt securities                                  90   +       11   -      554          103 

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 2, 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                                           19            53             0             0             0           ...            72 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       0        38,619       165,796     1,124,299       494,994       637,894     2,461,601 
  Weekly changes                                 0    +   31,839    -   21,303    -    5,003    -    5,541    -       18    -       27 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0         1,626        12,825        16,146             0         2,347        32,944 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0           381         9,164     1,735,244     1,744,789 
  Weekly changes                                 0             0             0             0             0             0             0 
Repurchase agreements (4)                      590             0           ...           ...           ...           ...           590 
Central bank liquidity swaps (5)               135             0             0             0             0             0           135 
                                                                                                                                       
Reverse repurchase agreements (4)          270,349             0           ...           ...           ...           ...       270,349 
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 2, 2015  

Mortgage-backed securities held outright (1)                                                                             1,744,789  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           26,769  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   24  



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 2, 2015  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,716  
                                                                                                                                    
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 2, 2015   Wednesday    Wednesday  
                                                        consolidation                Nov 25, 2015  Dec 3, 2014 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,854   -        3   +       15  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,414,140   +      251   -    5,353  
    Securities held outright (1)                                          4,239,334   -       28   +    9,228  
      U.S. Treasury securities                                            2,461,601   -       27   -       24  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,346,639            0   -       74  
        Notes and bonds, inflation-indexed (2)                               98,534            0   +       65  
        Inflation compensation (3)                                           16,428   -       27   -       16  
      Federal agency debt securities (2)                                     32,944            0   -    5,733  
      Mortgage-backed securities (4)                                      1,744,789            0   +   14,985  
    Unamortized premiums on securities held outright  
    (5)                                                                     190,849   -      317   -   16,967  
    Unamortized discounts on securities held outright 
    (5)                                                                     -16,706   +       26   +    1,823  
    Repurchase agreements (6)                                                   590   +      590   +      590  
    Loans                                                                        72   -       22   -       27  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,716   +        1   +       35  
  Items in process of collection                                   (0)          373   -      175   +      277  
  Bank premises                                                               2,227   -        6   -       33  
  Central bank liquidity swaps (8)                                              135   -       10   +      134  
  Foreign currency denominated assets (9)                                    19,197   -       17   -    2,009  
  Other assets (10)                                                          22,190   +      940   -    1,188  
                                                                                                               
Total assets                                                       (0)    4,478,069   +      981   -    8,121  

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 2, 2015   Wednesday    Wednesday  
                                                        consolidation                Nov 25, 2015  Dec 3, 2014 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,366,602   +    1,294   +   92,116 
  Reverse repurchase agreements (11)                                         270,349   -   21,443   +    8,468 
  Deposits                                                          (0)    2,775,390   +   21,503   -  111,372 
    Term deposits held by depository institutions                                  0            0   -  334,714 
    Other deposits held by depository institutions                         2,532,190   -   42,771   +   52,736 
    U.S. Treasury, General Account                                           217,267   +   63,052   +  159,661 
    Foreign official                                                           5,221   +        1   -       28 
    Other (12)                                                      (0)       20,712   +    1,221   +   10,973 
  Deferred availability cash items                                  (0)          299   -      134   -      434 
  Other liabilities and accrued dividends (13)                                 6,745   -      239   +    1,003 
                                                                                                               
Total liabilities                                                   (0)    4,419,384   +      980   -   10,220 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             29,343   +        1   +    1,050 
  Surplus                                                                     29,343   +        1   +    1,050 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 58,685   +        1   +    2,098 

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 2, 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                                             1,854          44          74          126         128         299         183         271          30          44         150         194         312
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,414,140     111,894   2,649,819      109,785     106,125     239,744     248,579     164,004      46,037      26,887      57,346     142,194     511,725
    Securities held outright (1)               4,239,334     107,465   2,544,923      105,439     101,924     230,253     238,726     157,510      44,210      25,782      55,071     136,563     491,468
      U.S. Treasury securities                 2,461,601      62,400   1,477,728       61,224      59,183     133,698     138,618      91,459      25,671      14,970      31,977      79,296     285,375
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,461,601      62,400   1,477,728       61,224      59,183     133,698     138,618      91,459      25,671      14,970      31,977      79,296     285,375
      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)           1,744,789      44,230   1,047,418       43,396      41,949      94,766      98,253      64,827      18,196      10,611      22,666      56,205     202,274
    Unamortized premiums on securities held 
      outright (5)                               190,849       4,838     114,569        4,747       4,588      10,366      10,747       7,091       1,990       1,161       2,479       6,148      22,125
    Unamortized discounts on securities     
      held outright (5)                          -16,706        -423     -10,029         -415        -402        -907        -941        -621        -174        -102        -217        -538      -1,937
    Repurchase agreements (6)                        590          15         354           15          14          32          33          22           6           4           8          19          68
    Loans                                             72           0           1            0           0           0          14           2           5          43           5           3           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,716           0       1,716            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     373           0           0            0           0           0         373           0           0           1           0           0           0
  Bank premises                                    2,227         125         435           74         106         212         207         203         118          92         239         220         197
  Central bank liquidity swaps (8)                   135           6          44            8          11          31           8           4           1           1           1           2          20
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   19,197         867       6,244        1,068       1,490       4,386       1,088         513         178          80         201         275       2,807
  Other assets (10)                               22,190         595      12,785          556         540       1,354       1,263         840         450         162         327         736       2,582
  Interdistrict settlement account                     0  -    7,621  -  164,647   +    6,374  +   22,689  +   31,618  +    5,570  +   16,535  +   11,931  +    6,012  +    4,043  +   17,804  +   49,692
                                                                                                                                                                                                         
Total assets                                   4,478,069     106,454   2,511,996      118,541     131,831     278,839     259,524     183,528      59,193      33,540      62,748     162,598     569,278

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 2, 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            1,545,940      48,975     499,620      49,733      83,404     107,381     218,001     103,814      52,018      27,007      41,052     122,396     192,540
    Less: Notes held by F.R. Banks               179,338       5,558      66,622       5,981       9,055      11,941      20,078      10,388       4,740       2,770       4,512      13,610      24,084
      Federal Reserve notes, net               1,366,602      43,417     432,998      43,752      74,349      95,440     197,923      93,426      47,278      24,236      36,540     108,786     168,457
  Reverse repurchase agreements (11)             270,349       6,853     162,294       6,724       6,500      14,684      15,224      10,045       2,819       1,644       3,512       8,709      31,342
  Deposits                                     2,775,390      53,370   1,894,067      64,575      46,217     154,888      42,479      78,158       8,358       7,144      21,938      44,000     360,196
    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                           2,532,190      53,361   1,658,981      64,572      46,214     154,677      42,442      70,344       8,334       7,144      21,936      43,998     360,186
    U.S. Treasury, General Account               217,267           0     217,267           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,221           2       5,194           2           3           9           2           1           0           0           0           1           6
    Other (12)                                    20,712           7      12,625           0           0         201          35       7,813          23           0           1           1           5
  Deferred availability cash items                   299           0           0           0           0           0         189           0           0         110           0           0           0
  Interest on Federal Reserve notes due     
     to U.S. Treasury (13)                         1,719          42       1,071          34          34          64         112          66          15          15          19          55         191
  Other liabilities and accrued             
     dividends                                     5,026         164       2,291         208         235         601         322         250         133         138         126         179         380
                                                                                                                                                                                                        
Total liabilities                              4,419,384     103,846   2,492,721     115,292     127,335     265,675     256,249     181,945      58,603      33,288      62,135     161,729     560,565
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 29,343       1,304       9,638       1,624       2,248       6,582       1,637         791         295         126         306         434       4,356
  Surplus                                         29,343       1,304       9,638       1,624       2,248       6,582       1,637         791         295         126         306         434       4,356
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,478,069     106,454   2,511,996     118,541     131,831     278,839     259,524     183,528      59,193      33,540      62,748     162,598     569,278

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 2, 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 2, 2015  

Federal Reserve notes outstanding                                                            1,545,940  
  Less: Notes held by F.R. Banks not subject to collateralization                              179,338  
    Federal Reserve notes to be collateralized                                               1,366,602  
Collateral held against Federal Reserve notes                                                1,366,602  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,350,365  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,239,924  
  Less: Face value of securities under reverse repurchase agreements                           260,832  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,979,092  

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.