FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                     July 5, 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   Jul 4, 2018 
Federal Reserve Banks                                      Jul 4, 2018 Jun 27, 2018  Jul 5, 2017              

Reserve Bank credit                                         4,259,935   -   12,585   -  167,022    4,250,190  
  Securities held outright (1)                              4,094,291   -   13,449   -  149,169    4,084,058  
    U.S. Treasury securities                                2,370,610   -    7,593   -   94,472    2,360,377  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,234,447   -    7,714   -  103,249    2,224,161  
      Notes and bonds, inflation-indexed (2)                  114,860            0   +    6,213      114,860  
      Inflation compensation (3)                               21,304   +      121   +    2,565       21,356  
    Federal agency debt securities (2)                          2,409            0   -    5,688        2,409  
    Mortgage-backed securities (4)                          1,721,272   -    5,855   -   49,009    1,721,272  
  Unamortized premiums on securities held outright (5)        149,580   -      419   -   16,339      149,476  
  Unamortized discounts on securities held outright (5)       -13,923   +       13   +      825      -13,932  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                           208   +       42   +       69          169  
    Primary credit                                                 38   +       31   +       12            5  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                               170   +       11   +       57          164  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,711   -        2   +        2        1,711  
  Float                                                          -457   -      235   +      170         -199  
  Central bank liquidity swaps (8)                              1,091   +    1,001   -    1,979        1,091  
  Other Federal Reserve assets (9)                             27,433   +      462   -      602       27,816  
Foreign currency denominated assets (10)                       21,149   -       24   +      393       21,147  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,699   +       14   +      713       49,699  
                                                                                                              
Total factors supplying reserve funds                       4,347,025   -   12,595   -  165,915    4,337,277  

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   Jul 4, 2018 
Federal Reserve Banks                                      Jul 4, 2018 Jun 27, 2018  Jul 5, 2017              

Currency in circulation (11)                                 1,668,649   +    6,409   +  105,719    1,672,170 
Reverse repurchase agreements (12)                             300,216   +   47,697   -  264,348      264,605 
  Foreign official and international accounts                  249,763   +    4,309   +    2,000      259,753 
  Others                                                        50,453   +   43,388   -  266,348        4,852 
Treasury cash holdings                                             197   -       16   +       11          195 
Deposits with F.R. Banks, other than reserve balances          414,821   -   44,478   +  153,730      400,120 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               336,026   -   37,914   +  159,020      325,543 
  Foreign official                                               5,277   +       21   +      112        5,254 
  Other (13)                                                    73,518   -    6,585   -    5,401       69,323 
Other liabilities and capital (14)                              45,154   +      653   -    2,677       45,977 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,429,038   +   10,265   -    7,562    2,383,067 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,917,987   -   22,860   -  158,353    1,954,210 

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   Jul 4, 2018 
                                                           Jul 4, 2018 Jun 27, 2018  Jul 5, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,395,825   -    3,824   +   79,711    3,401,867 
  Marketable U.S. Treasury securities (1)                    3,032,272   -    6,143   +   39,011    3,038,269 
  Federal agency debt and mortgage-backed securities (2)       291,292   +    2,191   +   30,530      291,292 
  Other securities (3)                                          72,261   +      129   +   10,170       72,306 
Securities lent to dealers                                      20,983   +       46   -    4,082       19,611 
  Overnight facility (4)                                        20,983   +       46   -    4,082       19,611 
    U.S. Treasury securities                                    20,983   +       46   -    4,081       19,611 
    Federal agency debt securities                                   0            0   -        1            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, July 4, 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                                           59           110             0             0             0           ...           169 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                   1,132        93,310       307,879     1,042,539       295,992       619,525     2,360,377 
  Weekly changes                        -   29,322    +   17,875    +    2,458    -    8,632    -      313    +       61    -   17,873 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0            62             0             0         2,347         2,409 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0           147        39,170     1,681,954     1,721,272 
  Weekly changes                                 0             0             0    +        4    -        4             0    +        1 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)             1,091             0             0             0             0             0         1,091 
                                                                                                                                       
Reverse repurchase agreements (4)          264,605             0           ...           ...           ...           ...       264,605 
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   
                                                                                                                       Jul 4, 2018  

Mortgage-backed securities held outright (1)                                                                             1,721,272  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           12,766  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   10  



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   
                                                                                                                       Jul 4, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,711  
                                                                                                                                    
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        Jul 4, 2018   Wednesday    Wednesday  
                                                        consolidation                Jun 27, 2018  Jul 5, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,756   -       17   -       40  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,219,771   -   18,148   -  174,881  
    Securities held outright (1)                                          4,084,058   -   17,872   -  159,416  
      U.S. Treasury securities                                            2,360,377   -   17,873   -  104,719  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,224,161   -   18,000   -  113,448  
        Notes and bonds, inflation-indexed (2)                              114,860            0   +    6,126  
        Inflation compensation (3)                                           21,356   +      127   +    2,603  
      Federal agency debt securities (2)                                      2,409            0   -    5,688  
      Mortgage-backed securities (4)                                      1,721,272   +        1   -   49,009  
    Unamortized premiums on securities held outright  
    (5)                                                                     149,476   -      257   -   16,311  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,932   -        8   +      806  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                       169   -       12   +       39  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,711   +        1   +        2  
  Items in process of collection                                   (0)          236   +       47   +      120  
  Bank premises                                                               2,182   -        6   -       15  
  Central bank liquidity swaps (8)                                            1,091   +    1,001   -    1,979  
  Foreign currency denominated assets (9)                                    21,147   +       54   +      519  
  Other assets (10)                                                          25,634   +    1,343   -    1,232  
                                                                                                               
Total assets                                                       (0)    4,289,764   -   15,727   -  177,508  

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        Jul 4, 2018   Wednesday    Wednesday  
                                                        consolidation                Jun 27, 2018  Jul 5, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,624,417   +    6,828   +  105,452 
  Reverse repurchase agreements (11)                                         264,605   +    3,768   -  222,133 
  Deposits                                                          (0)    2,354,330   -   27,645   -   59,236 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,954,210   +   13,294   -  215,440 
    U.S. Treasury, General Account                                           325,543   -   36,632   +  160,499 
    Foreign official                                                           5,254   -        2   +       90 
    Other (12)                                                      (0)       69,323   -    4,306   -    4,385 
  Deferred availability cash items                                  (0)          434   -      324   -      219 
  Other liabilities and accrued dividends (13)                                 7,076   +    1,645   +      573 
                                                                                                               
Total liabilities                                                   (0)    4,250,863   -   15,726   -  175,563 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,076            0   +    1,230 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,901            0   -    1,945 

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, July 4, 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                                             1,756          37          41          166         117         253         190         284          25          47         104         189         303
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,219,771      80,590   2,329,547      106,536     119,627     249,700     253,303     226,012      56,255      35,260      66,429     174,482     522,029
    Securities held outright (1)               4,084,058      78,001   2,254,716      103,114     115,784     241,679     245,153     218,733      54,372      34,081      64,293     168,875     505,256
      U.S. Treasury securities                 2,360,377      45,081   1,303,111       59,595      66,917     139,678     141,686     126,417      31,424      19,697      37,158      97,601     292,012
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,360,377      45,081   1,303,111       59,595      66,917     139,678     141,686     126,417      31,424      19,697      37,158      97,601     292,012
      Federal agency debt securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           1,721,272      32,874     950,276       43,459      48,799     101,858     103,322      92,188      22,916      14,364      27,097      71,174     212,946
    Unamortized premiums on securities held 
      outright (5)                               149,476       2,855      82,522        3,774       4,238       8,845       8,973       8,006       1,990       1,247       2,353       6,181      18,492
    Unamortized discounts on securities     
      held outright (5)                          -13,932        -266      -7,692         -352        -395        -824        -836        -746        -185        -116        -219        -576      -1,724
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                            169           0           0            0           0           0          14          19          79          47           2           2           5
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,711           0       1,711            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                     236           0           0            0           0           0         236           0           0           0           0           0           0
  Bank premises                                    2,182         109         442           74         118         196         203         198         107          95         233         219         189
  Central bank liquidity swaps (8)                 1,091          46         344           62          88         236          63          46          16           5          11          14         161
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,147         900       6,668        1,201       1,707       4,568       1,222         896         305          97         210         262       3,112
  Other assets (10)                               25,634         523      13,700          644         741       1,733       1,540       1,353         424         279         470       1,072       3,153
  Interdistrict settlement account                     0  +   14,898  +   28,381   -    4,449  +    1,140  +    7,535  +   30,184  -   16,914  -      167  -      929  -    4,663  -    2,964  -   52,052
                                                                                                                                                                                                         
Total assets                                   4,289,764      97,662   2,386,278      104,794     124,319     265,405     289,086     213,039      57,450      35,143      63,253     174,461     478,874

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, July 4, 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            1,791,080      58,961     606,726      53,774      87,303     124,947     260,047     113,053      51,849      30,343      46,976     139,417     217,684
    Less: Notes held by F.R. Banks               166,662       5,564      43,055       6,303       8,677      13,175      26,230      11,304       5,247       2,890       5,219      15,270      23,728
      Federal Reserve notes, net               1,624,417      53,397     563,671      47,471      78,626     111,773     233,816     101,748      46,603      27,452      41,757     124,147     193,956
  Reverse repurchase agreements (11)             264,605       5,054     146,082       6,681       7,502      15,658      15,883      14,172       3,523       2,208       4,166      10,941      32,735
  Deposits                                     2,354,330      37,368   1,660,972      48,141      34,818     128,999      36,395      95,056       6,556       4,948      16,772      38,539     245,766
    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                           1,954,210      37,325   1,310,476      48,138      34,687     128,708      36,360      46,181       6,552       4,883      16,733      38,407     245,759
    U.S. Treasury, General Account               325,543           0     325,543           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,254           2       5,227           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    69,323          42      19,727           1         127         282          33      48,874           4          64          38         131           1
  Deferred availability cash items                   434           0           0           0           0           0         244           0           0         191           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 2,487          50       1,253          55          77         111         222         140          55          30          47         141         306
  Other liabilities and accrued             
     dividends                                     4,589         160       1,939         190         192         506         294         297         126         137         137         212         400
                                                                                                                                                                                                        
Total liabilities                              4,250,863      96,029   2,373,917     102,538     121,215     257,046     286,854     211,413      56,863      34,966      62,878     173,981     473,164
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,076       1,343      10,210       1,868       2,553       6,885       1,838       1,337         488         145         308         395       4,705
  Surplus                                          6,825         290       2,151         388         551       1,474         394         289          98          31          68          84       1,005
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,289,764      97,662   2,386,278     104,794     124,319     265,405     289,086     213,039      57,450      35,143      63,253     174,461     478,874

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, July 4, 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 $6.825 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   
                                                                                           Jul 4, 2018  

Federal Reserve notes outstanding                                                            1,791,080  
  Less: Notes held by F.R. Banks not subject to collateralization                              166,662  
    Federal Reserve notes to be collateralized                                               1,624,417  
Collateral held against Federal Reserve notes                                                1,624,417  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,608,181  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,084,058  
  Less: Face value of securities under reverse repurchase agreements                           260,850  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,823,208  

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.