FEDERAL RESERVE statistical release

For Release at

4:30 P.M. EST

December 31, 2015

Publication Note

The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the

policies under which Federal Reserve Banks make payments of their residual net earnings to the

U.S. Treasury. The Fixing America’s Surface Transportation Act (FAST), which was enacted on

December 4, 2015, requires that aggregate Federal Reserve Bank surplus not exceed $10 billion. 

Therefore, any amount of aggregate Reserve Bank surplus that exceeds this limit will be remitted

to the U.S. Treasury. The line “Interest on Federal Reserve Notes due to U.S. Treasury” on table

6 has been replaced with “Earnings remittances due to the U.S. Treasury” and footnotes to tables

1, 5, and 6 have been similarly modified.

The amounts of the line items “Other liabilities and capital” on table 1, and “Surplus” on tables 5

and 6 reflect the payment of approximately $19.3 billion to Treasury on December 28, 2015,

which was necessary to reduce aggregate Reserve Bank surplus to the $10 billion limitation in

the FAST Act.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 31, 2015

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Dec 30, 2015 Dec 23, 2015 Dec 31, 2014

Wednesday

Dec 30, 2015

Reserve Bank credit 4,454,652 - 6,136 - 5,037 4,448,420

Securities held outright1 4,247,866 - 6,892 + 9,462 4,241,965

U.S. Treasury securities 2,461,558 - 12 + 170 2,461,554

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 73 2,346,639

Notes and bonds, inflation-indexed2 98,534 0 + 65 98,534

Inflation compensation3 16,385 - 12 + 178 16,381

Federal agency debt securities2 32,944 0 - 5,733 32,944

Mortgage-backed securities4 1,753,365 - 6,878 + 15,026 1,747,467

Unamortized premiums on securities held outright5 189,833 - 638 - 17,183 189,539

Unamortized discounts on securities held outright5 -16,586 + 35 + 1,820 -16,575

Repurchase agreements6 0 0 0 0

Loans 233 + 134 + 98 635

Primary credit 161 + 130 + 111 553

Secondary credit 0 0 0 0

Seasonal credit 72 + 4 - 13 81

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,716 0 + 38 1,717

Float -211 - 147 + 225 -131

Central bank liquidity swaps8 997 + 71 + 325 997

Other Federal Reserve assets9 30,805 + 1,301 + 178 30,272

Foreign currency denominated assets10 19,737 + 153 - 1,312 19,757

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 5,200 0 0 5,200

Treasury currency outstanding11 47,567 + 14 + 1,266 47,567

Total factors supplying reserve funds 4,538,197 - 5,969 - 5,084 4,531,984

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

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

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Dec 30, 2015 Dec 23, 2015 Dec 31, 2014

Wednesday

Dec 30, 2015

Currency in circulation11 1,423,739 + 7,064 + 82,218 1,426,176

Reverse repurchase agreements12 404,414 + 45,510 + 57,963 498,519

Foreign official and international accounts 215,174 + 7,576 + 110,492 221,072

Others 189,240 + 37,933 - 52,529 277,447

Treasury cash holdings 256 + 5 + 59 266

Deposits with F.R. Banks, other than reserve balances 345,010 + 52,307 + 128,165 351,987

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 290,467 + 22,859 + 98,404 324,846

Foreign official 5,380 + 149 + 166 5,231

Other13 49,163 + 29,300 + 29,596 21,910

Other liabilities and capital14 58,538 - 8,522 - 4,943 46,354

Total factors, other than reserve balances,

absorbing reserve funds 2,231,956 + 96,363 + 263,461 2,323,303

Reserve balances with Federal Reserve Banks 2,306,241 - 102,332 - 268,543 2,208,681

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 earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Dec 30, 2015 Dec 23, 2015 Dec 31, 2014

Wednesday

Dec 30, 2015

Securities held in custody for foreign official and international

accounts 3,323,911 + 14,245 + 30,759 3,316,671

Marketable U.S. Treasury securities1 3,008,473 + 16,214 + 48,488 3,001,300

Federal agency debt and mortgage-backed securities2 268,768 - 2,056 - 22,582 268,698

Other securities3 46,670 + 86 + 4,853 46,673

Securities lent to dealers 15,804 + 875 + 4,969 16,084

Overnight facility4 15,804 + 875 + 4,969 16,084

U.S. Treasury securities 15,684 + 877 + 5,522 15,956

Federal agency debt securities 120 - 3 - 553 128

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 30, 2015

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 626 9 0 0 0 ... 635

U.S. Treasury securities1

Holdings 0 38,619 165,794 1,124,291 494,987 637,863 2,461,554

Weekly changes 0 0 - 1 - 2 - 1 - 8 - 12

Federal agency debt securities2

Holdings 0 3,687 13,077 13,833 0 2,347 32,944

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 467 9,013 1,737,987 1,747,467

Weekly changes 0 0 0 - 14 - 173 - 10,104 - 10,290

Repurchase agreements4 0 0 ... ... ... ... 0

Central bank liquidity swaps5 997 0 0 0 0 0 997

Reverse repurchase agreements4 498,519 0 ... ... ... ... 498,519

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.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Dec 30, 2015

Mortgage-backed securities held outright1 1,747,467

Commitments to buy mortgage-backed securities2 21,419

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 12

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Dec 30, 2015

Net portfolio holdings of Maiden Lane LLC1 1,717

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. 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.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Dec 30, 2015 Dec 23, 2015 Dec 31, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,887 - 10 + 14

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,415,564 - 10,391 - 9,896

Securities held outright1 4,241,965 - 10,302 + 5,092

U.S. Treasury securities 2,461,554 - 12 + 190

Bills2 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 73

Notes and bonds, inflation-indexed2 98,534 0 + 65

Inflation compensation3 16,381 - 12 + 198

Federal agency debt securities2 32,944 0 - 5,733

Mortgage-backed securities4 1,747,467 - 10,290 + 10,635

Unamortized premiums on securities held outright5 189,539 - 685 - 17,296

Unamortized discounts on securities held outright5 -16,575 + 34 + 1,819

Repurchase agreements6 0 0 0

Loans 635 + 562 + 490

Net portfolio holdings of Maiden Lane LLC7 1,717 + 2 + 39

Items in process of collection (0) 153 - 40 + 67

Bank premises 2,244 + 10 - 20

Central bank liquidity swaps8 997 + 71 - 531

Foreign currency denominated assets9 19,757 + 148 - 1,314

Other assets10 28,029 + 272 + 566

Total assets (0) 4,486,587 - 9,936 - 11,073

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Dec 30, 2015 Dec 23, 2015 Dec 31, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,380,759 + 4,406 + 82,034

Reverse repurchase agreements11 498,519 + 108,933 - 11,318

Deposits (0) 2,560,670 - 103,644 - 66,339

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,208,683 - 162,396 - 169,313

U.S. Treasury, General Account 324,846 + 58,715 + 101,394

Foreign official 5,231 + 1 - 11

Other12 (0) 21,910 + 36 + 1,590

Deferred availability cash items (0) 284 - 198 - 357

Other liabilities and accrued dividends13 6,903 - 166 + 2,599

Total liabilities (0) 4,447,136 + 9,332 + 6,620

Capital accounts

Capital paid in 29,451 + 91 + 879

Surplus 10,000 - 19,360 - 18,572

Other capital accounts 0 0 0

Total capital 39,451 - 19,269 - 17,693

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 earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, December 30, 2015

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificate account 11,037 347 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 1,887 44 72 129 135 300 185 281 30 49 150 195 317

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,415,564 111,917 2,650,338 109,832 106,356 239,791 248,654 164,071 46,300 26,901 57,360 142,219 511,825

Securities held outright1 4,241,965 107,532 2,546,502 105,505 101,987 230,396 238,874 157,608 44,237 25,798 55,105 136,648 491,773

U.S. Treasury securities 2,461,554 62,399 1,477,701 61,223 59,182 133,696 138,615 91,458 25,670 14,970 31,977 79,295 285,369

Bills2 0 0 0 0 0 0 0 0 0 0 0 0 0

Notes and bonds3 2,461,554 62,399 1,477,701 61,223 59,182 133,696 138,615 91,458 25,670 14,970 31,977 79,295 285,369

Federal agency debt securities2 32,944 835 19,777 819 792 1,789 1,855 1,224 344 200 428 1,061 3,819

Mortgage-backed securities4 1,747,467 44,297 1,049,025 43,462 42,013 94,911 98,403 64,926 18,223 10,627 22,701 56,292 202,585

Unamortized premiums on securities 

held outright5 189,539 4,805 113,783 4,714 4,557 10,295 10,673 7,042 1,977 1,153 2,462 6,106 21,973

Unamortized discounts on securities 

held outright5 -16,575 -420 -9,950 -412 -398 -900 -933 -616 -173 -101 -215 -534 -1,922

Repurchase agreements6 0 0 0 0 0 0 0 0 0 0 0 0 0

Loans 635 1 3 25 210 0 40 37 259 51 8 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,717 0 1,717 0 0 0 0 0 0 0 0 0 0

Items in process of collection 153 0 0 0 0 0 152 0 0 2 0 0 0

Bank premises 2,244 123 441 75 106 211 207 205 118 92 240 227 198

Central bank liquidity swaps8 997 45 321 56 78 229 57 27 9 4 10 14 146

Foreign currency denominated

assets9 19,757 892 6,428 1,099 1,533 4,514 1,119 528 183 83 207 283 2,888

Other assets10 28,029 745 16,226 703 679 1,745 1,583 1,047 367 195 405 1,086 3,249

Interdistrict settlement account 0 - 19,015 - 136,509 + 8,178 + 25,304 + 24,331 + 8,423 + 15,865 + 11,718 + 7,130 + 3,022 + 16,195 + 35,357

Total assets 4,486,587 95,295 2,544,560 120,621 134,933 272,315 262,633 183,183 59,176 34,717 61,836 161,393 555,925

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, December 30, 2015 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes outstanding 1,550,070 49,569 498,600 49,447 82,942 106,863 218,815 103,187 51,747 26,870 40,808 125,643 195,578

Less: Notes held by F.R. Banks 169,311 4,850 64,361 5,379 8,030 10,952 20,162 9,390 4,360 2,470 4,356 12,667 22,334

Federal Reserve notes, net 1,380,759 44,719 434,240 44,068 74,912 95,911 198,653 93,798 47,387 24,399 36,452 112,976 173,244

Reverse repurchase agreements11 498,519 12,637 299,267 12,399 11,986 27,076 28,073 18,522 5,199 3,032 6,476 16,059 57,794

Deposits 2,560,670 35,960 1,794,889 61,702 44,719 139,640 33,097 69,479 6,020 6,839 18,351 31,536 318,438

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 2,208,683 35,957 1,450,337 61,700 44,716 139,497 33,087 62,229 6,011 6,839 18,350 31,532 318,428

U.S. Treasury, General Account 324,846 0 324,846 0 0 0 0 0 0 0 0 0 0

Foreign official 5,231 2 5,204 2 3 9 2 1 0 0 0 1 6

Other12 21,910 2 14,501 0 0 134 7 7,248 8 0 1 3 5

Deferred availability cash items 284 0 0 0 0 0 151 0 0 134 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,837 45 1,109 44 42 96 105 57 50 12 19 58 201

Other liabilities and accrued

dividends 5,066 175 2,098 225 247 715 348 268 124 133 127 184 422

Total liabilities 4,447,136 93,537 2,531,603 118,439 131,905 263,439 260,426 182,124 58,780 34,549 61,425 160,813 550,098

Capital

Capital paid in 29,451 1,304 9,735 1,624 2,248 6,582 1,638 791 303 126 305 436 4,359

Surplus 10,000 453 3,223 559 780 2,295 569 269 93 42 105 144 1,469

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,486,587 95,295 2,544,560 120,621 134,933 272,315 262,633 183,183 59,176 34,717 61,836 161,393 555,925

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, December 30, 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 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).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Dec 30, 2015

Federal Reserve notes outstanding 1,550,070

Less: Notes held by F.R. Banks not subject to collateralization 169,311

Federal Reserve notes to be collateralized 1,380,759

Collateral held against Federal Reserve notes 1,380,759

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,364,522

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,241,965

Less: Face value of securities under reverse repurchase agreements 473,986

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,767,979

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.