FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                     May 24, 2018


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  May 23, 2018 
Federal Reserve Banks                                     May 23, 2018 May 16, 2018 May 24, 2017              

Reserve Bank credit                                         4,298,969   -   15,419   -  135,665    4,297,773  
  Securities held outright (1)                              4,136,995   -    6,597   -  119,765    4,135,605  
    U.S. Treasury securities                                2,387,010   -    6,095   -   77,642    2,387,035  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,253,442   -    6,164   -   86,098    2,253,442  
      Notes and bonds, inflation-indexed (2)                  112,949            0   +    6,146      112,949  
      Inflation compensation (3)                               20,618   +       68   +    2,309       20,643  
    Federal agency debt securities (2)                          4,391            0   -    4,443        4,391  
    Mortgage-backed securities (4)                          1,745,594   -      502   -   37,680    1,744,179  
  Unamortized premiums on securities held outright (5)        152,025   -      363   -   15,854      151,837  
  Unamortized discounts on securities held outright (5)       -13,936   -       26   +      924      -13,926  
  Repurchase agreements (6)                                         0   -       18   -        9            0  
  Loans                                                            81   -        5   +       31          106  
    Primary credit                                                 12   -       11   +        7           28  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                69   +        6   +       24           77  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,712   -        3   +        3        1,713  
  Float                                                          -174   +       18   +       62         -179  
  Central bank liquidity swaps (8)                                 82   +        2   +       41           82  
  Other Federal Reserve assets (9)                             22,185   -    8,425   -    1,098       22,535  
Foreign currency denominated assets (10)                       21,263   -      242   +      665       21,233  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,608   +       14   +      709       49,608  
                                                                                                              
Total factors supplying reserve funds                       4,386,081   -   15,647   -  134,292    4,384,855  

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  May 23, 2018 
Federal Reserve Banks                                     May 23, 2018 May 16, 2018 May 24, 2017              

Currency in circulation (11)                                 1,654,027   +    3,341   +  105,631    1,656,691 
Reverse repurchase agreements (12)                             254,832   +    5,933   -  170,664      247,465 
  Foreign official and international accounts                  248,888   +    3,272   +    9,245      244,469 
  Others                                                         5,944   +    2,661   -  179,909        2,996 
Treasury cash holdings                                             261   -       10   +       14          255 
Deposits with F.R. Banks, other than reserve balances          409,269   -   10,972   +  134,265      394,583 
  Term deposits held by depository institutions                  3,686   +    3,686   -   12,661        3,686 
  U.S. Treasury, General Account                               326,445   -   10,813   +  159,280      312,169 
  Foreign official                                               5,255            0   +       45        5,255 
  Other (13)                                                    73,883   -    3,845   -   12,398       73,474 
Other liabilities and capital (14)                              45,746   +      386   -    3,072       45,316 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,364,135   -    1,323   +   66,174    2,344,310 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,021,946   -   14,324   -  200,466    2,040,545 

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  May 23, 2018 
                                                          May 23, 2018 May 16, 2018 May 24, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,382,455   -    4,770   +  138,245    3,386,856 
  Marketable U.S. Treasury securities (1)                    3,026,935   -    8,218   +  107,879    3,025,088 
  Federal agency debt and mortgage-backed securities (2)       280,033   +    4,513   +   16,273      286,485 
  Other securities (3)                                          75,487   -    1,066   +   14,092       75,283 
Securities lent to dealers                                      20,154   -      468   -    1,852       18,835 
  Overnight facility (4)                                        20,154   -      468   -    1,852       18,835 
    U.S. Treasury securities                                    20,154   -      468   -    1,835       18,835 
    Federal agency debt securities                                   0            0   -       17            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, May 23, 2018        

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                                          100             5             0             0             0           ...           106 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  28,479        84,951       306,288     1,052,018       296,104       619,195     2,387,035 
  Weekly changes                                 0    +   23,069    -   23,068    +       10    +    6,050    -    5,994    +       69 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0         1,982            62             0             0         2,347         4,391 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0           142        39,823     1,704,214     1,744,179 
  Weekly changes                                 0             0             0    +       65    +       12    -    1,412    -    1,335 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                82             0             0             0             0             0            82 
                                                                                                                                       
Reverse repurchase agreements (4)          247,465             0           ...           ...           ...           ...       247,465 
Term deposits                                3,686             0             0           ...           ...           ...         3,686 

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   
                                                                                                                      May 23, 2018  

Mortgage-backed securities held outright (1)                                                                             1,744,179  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            7,291  
Commitments to sell mortgage-backed securities (2)                                                                              60  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   66  



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   
                                                                                                                      May 23, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,713  
                                                                                                                                    
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       May 23, 2018   Wednesday    Wednesday  
                                                        consolidation                May 16, 2018 May 24, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,797   -        6   -       23  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,273,622   -    1,684   -  133,172  
    Securities held outright (1)                                          4,135,605   -    1,267   -  118,272  
      U.S. Treasury securities                                            2,387,035   +       69   -   77,625  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,253,442            0   -   86,098  
        Notes and bonds, inflation-indexed (2)                              112,949            0   +    6,146  
        Inflation compensation (3)                                           20,643   +       68   +    2,326  
      Federal agency debt securities (2)                                      4,391            0   -    4,443  
      Mortgage-backed securities (4)                                      1,744,179   -    1,335   -   36,204  
    Unamortized premiums on securities held outright  
    (5)                                                                     151,837   -      412   -   15,809  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,926   +       27   +      923  
    Repurchase agreements (6)                                                     0   -       65   -       62  
    Loans                                                                       106   +       33   +       49  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,713   +        1   +        3  
  Items in process of collection                                   (0)           83   +        5   +       23  
  Bank premises                                                               2,196   +        1   -        3  
  Central bank liquidity swaps (8)                                               82   +        2   +       41  
  Foreign currency denominated assets (9)                                    21,233   -       90   +      692  
  Other assets (10)                                                          20,339   +    1,464   -    1,111  
                                                                                                               
Total assets                                                       (0)    4,337,301   -      308   -  133,551  

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       May 23, 2018   Wednesday    Wednesday  
                                                        consolidation                May 16, 2018 May 24, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,609,131   +    2,988   +  104,357 
  Reverse repurchase agreements (11)                                         247,465   -    9,439   -  179,852 
  Deposits                                                          (0)    2,435,128   +    5,318   -   55,671 
    Term deposits held by depository institutions                              3,686   +    3,686   -   12,661 
    Other deposits held by depository institutions                         2,040,545   +   17,884   -  165,618 
    U.S. Treasury, General Account                                           312,169   -   15,579   +  149,111 
    Foreign official                                                           5,255            0   +       91 
    Other (12)                                                      (0)       73,474   -      671   -   26,593 
  Deferred availability cash items                                  (0)          262   -        4   -      149 
  Other liabilities and accrued dividends (13)                                 6,003   +      829   -      743 
                                                                                                               
Total liabilities                                                   (0)    4,297,989   -      308   -  132,059 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,813   +        1   +    1,009 
  Surplus                                                                      7,500            0   -    2,500 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,313   +        1   -    1,491 

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, May 23, 2018
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         364       3,626          350         544         773       1,491         739         334         199         307         905       1,405
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,797          49          53          177         115         255         180         292          23          49         105         184         315
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,273,622      81,620   2,359,318      107,897     121,156     252,890     256,556     228,901      56,927      35,676      67,275     176,709     528,697
    Securities held outright (1)               4,135,605      78,986   2,283,175      104,415     117,246     244,729     248,247     221,494      55,059      34,512      65,104     171,006     511,633
      U.S. Treasury securities                 2,387,035      45,590   1,317,828       60,268      67,673     141,255     143,286     127,844      31,779      19,920      37,578      98,703     295,310
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,387,035      45,590   1,317,828       60,268      67,673     141,255     143,286     127,844      31,779      19,920      37,578      98,703     295,310
      Federal agency debt securities (2)           4,391          84       2,424          111         124         260         264         235          58          37          69         182         543
      Mortgage-backed securities (4)           1,744,179      33,312     962,922       44,037      49,448     103,214     104,697      93,414      23,221      14,555      27,458      72,121     215,780
    Unamortized premiums on securities held 
      outright (5)                               151,837       2,900      83,826        3,834       4,305       8,985       9,114       8,132       2,021       1,267       2,390       6,278      18,784
    Unamortized discounts on securities     
      held outright (5)                          -13,926        -266      -7,688         -352        -395        -824        -836        -746        -185        -116        -219        -576      -1,723
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            106           0           5            0           0           0          31          21          32          14           0           0           3
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,713           0       1,713            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      83           0           0            0           0           0          82           0           0           1           0           0           0
  Bank premises                                    2,196         111         445           74         120         197         203         200         108          95         234         220         190
  Central bank liquidity swaps (8)                    82           3          26            5           7          18           5           3           1           0           1           1          12
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,233         903       6,694        1,206       1,714       4,587       1,227         900         306          97         210         263       3,125
  Other assets (10)                               20,339         416      10,686          508         580       1,415       1,213       1,064         467         212         376         921       2,481
  Interdistrict settlement account                     0  -    1,363  +   88,828   -    4,785  -      961  +    3,136  +   13,353  -   17,478  -    2,466  -    1,865  -    5,730  -    6,886  -   63,783
                                                                                                                                                                                                         
Total assets                                   4,337,301      82,300   2,473,206      105,642     123,510     263,683     274,964     215,046      55,850      34,554      62,931     172,599     473,016

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, May 23, 2018 (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            1,784,029      59,332     605,751      54,284      87,828     125,752     250,630     113,618      52,078      30,400      47,181     138,652     218,524
    Less: Notes held by F.R. Banks               174,898       6,248      42,997       7,102       9,818      13,995      26,659      12,182       5,551       3,253       5,768      16,569      24,757
      Federal Reserve notes, net               1,609,131      53,084     562,753      47,182      78,010     111,757     223,971     101,436      46,527      27,147      41,413     122,083     193,767
  Reverse repurchase agreements (11)             247,465       4,726     136,620       6,248       7,016      14,644      14,855      13,254       3,295       2,065       3,896      10,233      30,615
  Deposits                                     2,435,128      22,627   1,758,970      49,681      35,078     128,172      33,375      98,316       5,291       4,817      17,057      39,506     242,237
    Term deposits held by depository        
        institutions                               3,686          25       1,305       1,000          10         100           0         400           0           0         345           1         500
    Other deposits held by depository       
        institutions                           2,040,545      22,571   1,418,156      48,679      35,007     127,845      33,329      46,954       5,286       4,817      16,701      39,469     241,730
    U.S. Treasury, General Account               312,169           0     312,169           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,255           2       5,227           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    73,474          29      22,113           0          57         219          44      50,961           5           0          10          35           1
  Deferred availability cash items                   262           0           0           0           0           0          72           0           0         190           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,158          21         603          25          35          44          99          67          21          13          21          64         146
  Other liabilities and accrued             
     dividends                                     4,846         178       1,942         213         213         561         327         317         135         143         146         224         446
                                                                                                                                                                                                        
Total liabilities                              4,297,989      80,637   2,460,888     103,348     120,352     255,178     272,699     213,390      55,268      34,375      62,532     172,110     467,211
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,813       1,343       9,955       1,868       2,553       6,885       1,832       1,338         473         145         324         396       4,702
  Surplus                                          7,500         319       2,364         426         605       1,620         433         318         108          34          74          93       1,104
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,337,301      82,300   2,473,206     105,642     123,510     263,683     274,964     215,046      55,850      34,554      62,931     172,599     473,016

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, May 23, 2018 (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 $7.5 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   
                                                                                          May 23, 2018  

Federal Reserve notes outstanding                                                            1,784,029  
  Less: Notes held by F.R. Banks not subject to collateralization                              174,898  
    Federal Reserve notes to be collateralized                                               1,609,131  
Collateral held against Federal Reserve notes                                                1,609,131  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,592,894  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,135,605  
  Less: Face value of securities under reverse repurchase agreements                           245,809  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,889,796  

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.