FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                December 28, 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 27, 2017 
Federal Reserve Banks                                     Dec 27, 2017 Dec 20, 2017 Dec 28, 2016              

Reserve Bank credit                                         4,417,716   +    9,424   -    9,508    4,408,906  
  Securities held outright (1)                              4,231,118   -    2,891   -    2,273    4,223,535  
    U.S. Treasury securities                                2,454,224   -       20   -    9,367    2,454,219  
      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)                               19,686   -       20   +    1,895       19,680  
    Federal agency debt securities (2)                          4,391            0   -   11,789        4,391  
    Mortgage-backed securities (4)                          1,772,503   -    2,871   +   18,883    1,764,926  
  Unamortized premiums on securities held outright (5)        159,236   -      459   -   14,348      158,921  
  Unamortized discounts on securities held outright (5)       -14,132   +       34   +      972      -14,121  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            62   -       48   +       18          141  
    Primary credit                                                 30   -       47   +       15          108  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                33            0   +        4           33  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,712            0   +        5        1,712  
  Float                                                          -179   +       36   +      107         -334  
  Central bank liquidity swaps (8)                             12,008   +   11,951   +    7,182       12,008  
  Other Federal Reserve assets (9)                             27,890   +      801   -    1,171       27,044  
Foreign currency denominated assets (10)                       21,179   +       19   +    1,812       21,229  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,360   +       14   +      836       49,360  
                                                                                                              
Total factors supplying reserve funds                       4,504,495   +    9,457   -    6,861    4,495,736  

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 27, 2017 
Federal Reserve Banks                                     Dec 27, 2017 Dec 20, 2017 Dec 28, 2016              

Currency in circulation (11)                                 1,612,112   +    8,098   +  106,050    1,616,323 
Reverse repurchase agreements (12)                             355,018   +   26,391   -  185,531      386,791 
  Foreign official and international accounts                  235,076   +    7,275   -   12,204      239,042 
  Others                                                       119,942   +   19,116   -  173,327      147,749 
Treasury cash holdings                                             194   -       10   +       30          214 
Deposits with F.R. Banks, other than reserve balances          287,888   +   43,614   -  177,183      268,636 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               190,283   +   34,671   -  190,396      186,486 
  Foreign official                                               5,253   -       44   +       87        5,254 
  Other (13)                                                    92,352   +    8,987   +   13,125       76,897 
Other liabilities and capital (14)                              47,859   -      897   +      905       47,319 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,303,070   +   77,196   -  255,730    2,319,283 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,201,425   -   67,739   +  248,870    2,176,452 

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 27, 2017 
                                                          Dec 27, 2017 Dec 20, 2017 Dec 28, 2016              

Securities held in custody for foreign official and       
     international accounts                                  3,361,999   -   10,658   +  182,122    3,361,720 
  Marketable U.S. Treasury securities (1)                    3,021,289   -    9,690   +  162,346    3,021,419 
  Federal agency debt and mortgage-backed securities (2)       262,766   -      840   +    1,227      262,408 
  Other securities (3)                                          77,944   -      128   +   18,549       77,893 
Securities lent to dealers                                      23,507   +    1,872   +    1,520       22,804 
  Overnight facility (4)                                        23,507   +    1,872   +    1,520       22,804 
    U.S. Treasury securities                                    23,507   +    1,872   +    1,536       22,804 
    Federal agency debt securities                                   0            0   -       16            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 27, 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                                          141             0             0             0             0           ...           141 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  17,504        79,555       328,412     1,095,446       310,412       622,890     2,454,219 
  Weekly changes                                 0    -        1             0    -        3    -        4    -       11    -       18 
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           173        20,013     1,744,739     1,764,926 
  Weekly changes                                 0             0             0    -        5    -      354    -   10,167    -   10,525 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)            12,008             0             0             0             0             0        12,008 
                                                                                                                                       
Reverse repurchase agreements (4)          386,791             0           ...           ...           ...           ...       386,791 
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 27, 2017  

Mortgage-backed securities held outright (1)                                                                             1,764,926  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           18,733  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   22  



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 27, 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 27, 2017   Wednesday    Wednesday  
                                                        consolidation                Dec 20, 2017 Dec 28, 2016 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,885   -        7   +       11  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,368,476   -   11,081   -   10,757  
    Securities held outright (1)                                          4,223,535   -   10,544   +    2,367  
      U.S. Treasury securities                                            2,454,219   -       18   -    9,382  
        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)                                           19,680   -       19   +    1,879  
      Federal agency debt securities (2)                                      4,391            0   -   11,789  
      Mortgage-backed securities (4)                                      1,764,926   -   10,525   +   23,539  
    Unamortized premiums on securities held outright  
    (5)                                                                     158,921   -      598   -   14,188  
    Unamortized discounts on securities held outright 
    (5)                                                                     -14,121   +       32   +      971  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       141   +       29   +       94  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,712            0   +        5  
  Items in process of collection                                   (0)           88   +       11   -        6  
  Bank premises                                                               2,218   +        4   +        8  
  Central bank liquidity swaps (8)                                           12,008   +   11,951   +    7,182  
  Foreign currency denominated assets (9)                                    21,229   +       23   +    1,941  
  Other assets (10)                                                          24,825   +      306   -    1,158  
                                                                                                               
Total assets                                                       (0)    4,448,680   +    1,210   -    2,771  

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 27, 2017   Wednesday    Wednesday  
                                                        consolidation                Dec 20, 2017 Dec 28, 2016 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,569,058   +    8,393   +  106,484 
  Reverse repurchase agreements (11)                                         386,791   +   36,989   -  186,966 
  Deposits                                                          (0)    2,445,089   -   43,431   +   77,150 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,176,452   -   60,690   +  233,469 
    U.S. Treasury, General Account                                           186,486   +   15,669   -  186,339 
    Foreign official                                                           5,254   +        1   +       89 
    Other (12)                                                      (0)       76,897   +    1,589   +   29,931 
  Deferred availability cash items                                  (0)          423   +      187   -      362 
  Other liabilities and accrued dividends (13)                                 5,931   -      994   -       22 
                                                                                                               
Total liabilities                                                   (0)    4,407,291   +    1,143   -    3,717 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,388   +       66   +      945 
  Surplus                                                                     10,000            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 41,388   +       66   +      945 

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 27, 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                                             1,885          48          47          187         144         268         194         300          37          51         108         194         307
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,368,476      85,111   2,459,776      112,788     126,678     255,943     257,136     183,740      58,251      34,070      61,965     174,879     558,139
    Securities held outright (1)               4,223,535      82,290   2,378,238      109,050     122,479     247,459     248,613     177,636      56,320      32,929      59,900     169,081     539,541
      U.S. Treasury securities                 2,454,219      47,817   1,381,950       63,367      71,170     143,794     144,464     103,221      32,726      19,134      34,807      98,250     313,517
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,454,219      47,817   1,381,950       63,367      71,170     143,794     144,464     103,221      32,726      19,134      34,807      98,250     313,517
      Federal agency debt securities (2)           4,391          86       2,473          113         127         257         258         185          59          34          62         176         561
      Mortgage-backed securities (4)           1,764,926      34,387     993,815       45,570      51,181     103,408     103,890      74,231      23,535      13,760      25,031      70,655     225,463
    Unamortized premiums on securities held 
      outright (5)                               158,921       3,096      89,487        4,103       4,609       9,311       9,355       6,684       2,119       1,239       2,254       6,362      20,302
    Unamortized discounts on securities     
      held outright (5)                          -14,121        -275      -7,951         -365        -409        -827        -831        -594        -188        -110        -200        -565      -1,804
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            141           0           2            0           0           0           0          14           0          12          12           1         100
  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                      88           0           0            0           0           0          88           0           0           0           0           0           0
  Bank premises                                    2,218         115         449           72         131         197         204         204         110          88         237         219         193
  Central bank liquidity swaps (8)                12,008         521       3,845          646         978       2,595         700         503         131          51         117         154       1,768
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,229         920       6,800        1,141       1,729       4,587       1,238         889         232          90         206         271       3,126
  Other assets (10)                               24,825         522      13,477          633         724       1,632       1,481       1,040         396         209         417       1,155       3,139
  Interdistrict settlement account                     0  -    2,264  -   58,876   -    2,706  -      162  +   23,776  +   16,883  +   42,456  -      105  +    2,941  +    6,833  +      147  -   28,923
                                                                                                                                                                                                         
Total assets                                   4,448,680      85,519   2,432,638      113,320     131,012     290,187     280,099     230,293      59,543      37,780      70,327     178,217     539,744

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 27, 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            1,746,453      57,234     578,116      54,279      83,806     119,519     244,244     116,040      52,082      31,095      47,959     140,828     221,250
    Less: Notes held by F.R. Banks               177,395       6,118      49,344       6,595       8,868      13,615      24,525      10,926       5,218       2,963       5,771      16,482      26,970
      Federal Reserve notes, net               1,569,058      51,116     528,773      47,684      74,938     105,904     219,719     105,114      46,864      28,132      42,188     124,346     194,280
  Reverse repurchase agreements (11)             386,791       7,536     217,799       9,987      11,217      22,662      22,768      16,268       5,158       3,016       5,486      15,484      49,411
  Deposits                                     2,445,089      24,906   1,670,420      53,103      41,245     152,000      34,675     106,833       6,811       5,972      22,099      37,605     289,419
    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                           2,176,452      24,897   1,456,254      53,101      41,242     151,847      34,666      52,554       6,807       5,972      22,095      37,604     289,412
    U.S. Treasury, General Account               186,486           0     186,486           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,254           2       5,226           2           3           9           2           2           0           0           0           1           6
    Other (12)                                    76,897           7      22,454           0           0         144           7      54,277           3           0           4           0           1
  Deferred availability cash items                   423           0           0           0           0           0         103           0           0         320           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,179          27         613          31          40          95          92          40          13          11           6          62         151
  Other liabilities and accrued             
     dividends                                     4,752         165       1,938         194         225         585         345         289         135         143         140         203         390
                                                                                                                                                                                                        
Total liabilities                              4,407,291      83,750   2,419,542     110,999     127,664     281,245     277,702     228,544      58,981      37,594      69,919     177,701     533,651
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,388       1,336       9,894       1,783       2,534       6,781       1,814       1,331         453         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                  4,448,680      85,519   2,432,638     113,320     131,012     290,187     280,099     230,293      59,543      37,780      70,327     178,217     539,744

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 27, 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 27, 2017  

Federal Reserve notes outstanding                                                            1,746,453  
  Less: Notes held by F.R. Banks not subject to collateralization                              177,395  
    Federal Reserve notes to be collateralized                                               1,569,058  
Collateral held against Federal Reserve notes                                                1,569,058  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,552,821  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,223,535  
  Less: Face value of securities under reverse repurchase agreements                           378,882  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,844,654  

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.