FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                 December 6, 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   Dec 5, 2018 
Federal Reserve Banks                                      Dec 5, 2018 Nov 28, 2018  Dec 6, 2017              

Reserve Bank credit                                         4,047,767   -   16,059   -  348,785    4,046,978  
  Securities held outright (1)                              3,898,205   -   15,555   -  327,762    3,896,430  
    U.S. Treasury securities                                2,242,326   -   10,777   -  212,155    2,240,551  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,103,737   -   11,647   -  220,867    2,101,796  
      Notes and bonds, inflation-indexed (2)                  116,407   +      828   +    6,273      116,545  
      Inflation compensation (3)                               22,183   +       42   +    2,440       22,210  
    Federal agency debt securities (2)                          2,409            0   -    1,982        2,409  
    Mortgage-backed securities (4)                          1,653,470   -    4,777   -  113,625    1,653,470  
  Unamortized premiums on securities held outright (5)        141,594   -      357   -   18,392      141,473  
  Unamortized discounts on securities held outright (5)       -13,545   -       22   +      685      -13,539  
  Repurchase agreements (6)                                        19   +       19   +       19           66  
  Loans                                                            55   -       21   +       13           57  
    Primary credit                                                  5   -        5            0           10  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                50   -       16   +       13           46  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     7            0   -    1,704            7  
  Float                                                          -487   -      307   -       96         -446  
  Central bank liquidity swaps (8)                                194   +      127   +      159          194  
  Other Federal Reserve assets (9)                             21,724   +       54   -    1,707       22,736  
Foreign currency denominated assets (10)                       20,626   +       47   -      656       20,611  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,849   +       14   +      523       49,849  
                                                                                                              
Total factors supplying reserve funds                       4,134,483   -   15,998   -  348,917    4,133,678  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended   Dec 5, 2018 
Federal Reserve Banks                                      Dec 5, 2018 Nov 28, 2018  Dec 6, 2017              

Currency in circulation (11)                                 1,704,553   -    1,608   +  104,981    1,706,179 
Reverse repurchase agreements (12)                             232,520   -    6,668   -   67,295      235,657 
  Foreign official and international accounts                  229,969   -      914   +    1,134      232,522 
  Others                                                         2,551   -    5,754   -   68,429        3,135 
Treasury cash holdings                                             203   -        4   +        2          202 
Deposits with F.R. Banks, other than reserve balances          414,237   -    7,323   +  203,810      409,997 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               337,564   -    3,032   +  209,978      328,613 
  Foreign official                                               5,271   +       12   +      103        5,357 
  Other (13)                                                    71,402   -    4,303   -    6,271       76,027 
Other liabilities and capital (14)                              44,829   +      123   -    3,466       45,338 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,396,342   -   15,480   +  238,031    2,397,373 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,738,141   -      518   -  586,949    1,736,305 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements.                                                                               
7.  Refer to table 4 and the note on consolidation accompanying table 6.                                    
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for       
    depreciation.                                                                                       
10. Revalued daily at current foreign currency exchange rates.                                              
11. Estimated.                                                                                              
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
14. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended   Dec 5, 2018 
                                                           Dec 5, 2018 Nov 28, 2018  Dec 6, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,403,912   +    2,107   +   13,755    3,407,519 
  Marketable U.S. Treasury securities (1)                    3,028,922   -        9   -   18,961    3,032,187 
  Federal agency debt and mortgage-backed securities (2)       308,343   +    1,499   +   44,028      308,498 
  Other securities (3)                                          66,646   +      617   -   11,313       66,834 
Securities lent to dealers                                      18,989   +    2,704   -      854       21,855 
  Overnight facility (4)                                        18,989   +    2,704   -      854       21,855 
    U.S. Treasury securities                                    18,989   +    2,704   -      854       21,855 
    Federal agency debt securities                                   0            0            0            0 

Note: Components may not sum to totals because of rounding.


1.  Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.         
    Does not include securities pledged as collateral to foreign official and international account holders
    against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.     
2.  Face value of federal agency securities and current face value of mortgage-backed securities, which     
    is the remaining principal balance of the securities.                                               
3.  Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed         
    securities, and commercial paper at face value.                                                     
4.  Face value. Fully collateralized by U.S. Treasury securities.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 5, 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                                           25            31             0             0             0           ...            57 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       0        90,541       302,120       964,792       264,547       618,551     2,240,551 
  Weekly changes                        -   24,916    +   12,530    -    4,134    +    3,112    +      820    +       23    -   12,566 
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             4           210        63,823     1,589,433     1,653,470 
  Weekly changes                                 0             0    +        1    +        9    +    2,780    -    2,788    +        2 
Repurchase agreements (4)                       66             0           ...           ...           ...           ...            66 
Central bank liquidity swaps (5)               194             0             0             0             0             0           194 
                                                                                                                                       
Reverse repurchase agreements (4)          235,657             0           ...           ...           ...           ...       235,657 
Term deposits                                    0             0             0           ...           ...           ...             0 

Note: Components may not sum to totals because of rounding.
...Not applicable.


1.  Face value. For inflation-indexed securities, includes the original face value and compensation         
    that adjusts for the effect of inflation on the original face value of such securities.             
2.  Face value.                                                                                             
3.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
4.  Cash value of agreements.                                                                               
5.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                       Dec 5, 2018  

Mortgage-backed securities held outright (1)                                                                             1,653,470  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              292  
Commitments to sell mortgage-backed securities (2)                                                                             135  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    0  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5       
    and table 6.                                                                                        




4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                       Dec 5, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                    7  
                                                                                                                                    
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.         
2.  Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's            
    statement of condition consistent with consolidation under generally accepted accounting principles. Refer
    to the note on consolidation accompanying table 6.                                                  
3.  Book value. The fair value of these obligations is included in other liabilities and capital in         
    table 1 and in other liabilities and accrued dividends in table 5 and table 6.                      


Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit
extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.

                                                                          






5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from        Dec 5, 2018   Wednesday    Wednesday  
                                                        consolidation                Nov 28, 2018  Dec 6, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,709   +       18   -      158  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,024,487   -   12,801   -  347,180  
    Securities held outright (1)                                          3,896,430   -   12,564   -  329,531  
      U.S. Treasury securities                                            2,240,551   -   12,566   -  213,923  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,101,796   -   13,588   -  222,808  
        Notes and bonds, inflation-indexed (2)                              116,545   +      966   +    6,411  
        Inflation compensation (3)                                           22,210   +       56   +    2,474  
      Federal agency debt securities (2)                                      2,409            0   -    1,982  
      Mortgage-backed securities (4)                                      1,653,470   +        2   -  113,626  
    Unamortized premiums on securities held outright  
    (5)                                                                     141,473   -      248   -   18,410  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,539   -       27   +      680  
    Repurchase agreements (6)                                                    66   +       66   +       66  
    Loans                                                                        57   -       27   +       14  
  Net portfolio holdings of Maiden Lane LLC (7)                                   7            0   -    1,704  
  Items in process of collection                                   (0)           62   -       20   -       17  
  Bank premises                                                               2,192   -        8   -       18  
  Central bank liquidity swaps (8)                                              194   +      126   +      159  
  Foreign currency denominated assets (9)                                    20,611   +      128   -      563  
  Other assets (10)                                                          20,545   +    1,431   -    1,624  
                                                                                                               
Total assets                                                       (0)    4,086,044   -   11,126   -  351,104  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from        Dec 5, 2018   Wednesday    Wednesday  
                                                        consolidation                Nov 28, 2018  Dec 6, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,658,238   -      267   +  102,571 
  Reverse repurchase agreements (11)                                         235,657   +    8,342   -   68,057 
  Deposits                                                          (0)    2,146,303   -   20,731   -  382,701 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,736,307   -   22,374   -  588,987 
    U.S. Treasury, General Account                                           328,613   -    3,723   +  206,486 
    Foreign official                                                           5,357   +      100   +      189 
    Other (12)                                                      (0)       76,027   +    5,268   -      389 
  Deferred availability cash items                                  (0)          508   +       41   -      149 
  Other liabilities and accrued dividends (13)                                 6,208   +    1,488   -      579 
                                                                                                               
Total liabilities                                                   (0)    4,046,914   -   11,127   -  348,916 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,305   +        1   +      987 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,130   +        1   -    2,188 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.      
7.  Refer to table 4 and the note on consolidation accompanying table 6.                                    
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Revalued daily at current foreign currency exchange rates.                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable.                                                                                
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



6. Statement of Condition of Each Federal Reserve Bank, December 5, 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                                             1,709          40          38          150         121         235         176         286          26          44         110         193         290
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,024,487      76,863   2,221,798      101,608     114,094     238,150     241,574     215,548      53,594      33,603      63,361     166,409     497,885
    Securities held outright (1)               3,896,430      74,418   2,151,131       98,377     110,465     230,576     233,890     208,684      51,874      32,516      61,339     161,117     482,043
      U.S. Treasury securities                 2,240,551      42,792   1,236,958       56,569      63,520     132,587     134,493     119,999      29,829      18,697      35,272      92,646     277,188
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,240,551      42,792   1,236,958       56,569      63,520     132,587     134,493     119,999      29,829      18,697      35,272      92,646     277,188
      Federal agency debt securities (2)           2,409          46       1,330           61          68         143         145         129          32          20          38         100         298
      Mortgage-backed securities (4)           1,653,470      31,580     912,843       41,747      46,876      97,846      99,252      88,556      22,013      13,798      26,030      68,371     204,558
    Unamortized premiums on securities held 
      outright (5)                               141,473       2,702      78,104        3,572       4,011       8,372       8,492       7,577       1,883       1,181       2,227       5,850      17,502
    Unamortized discounts on securities     
      held outright (5)                          -13,539        -259      -7,474         -342        -384        -801        -813        -725        -180        -113        -213        -560      -1,675
    Repurchase agreements (6)                         66           1          36            2           2           4           4           4           1           1           1           3           8
    Loans                                             57           1           0            0           0           0           0           8          15          20           6           0           6
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      7           0           7            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      62           0           0            0           0           0          61           0           0           1           0           0           0
  Bank premises                                    2,192         108         452           81         117         195         205         193         105          95         232         219         188
  Central bank liquidity swaps (8)                   194           8          61           11          16          42          11           8           3           1           2           2          29
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,611         877       6,499        1,171       1,663       4,452       1,191         874         297          95         204         255       3,033
  Other assets (10)                               20,545         422      10,860          511         590       1,399       1,227       1,072         496         228         371         869       2,501
  Interdistrict settlement account                     0  +   28,345  -  135,016   -    8,252  +   13,230  +   12,627  +   38,044  +   11,575  +    7,370  +    3,570  -    1,779  +   12,863  +   17,422
                                                                                                                                                                                                         
Total assets                                   4,086,044     107,224   2,110,142       95,839     130,612     258,286     284,634     230,720      62,374      37,925      62,961     181,998     523,328

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, December 5, 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            1,859,294      58,143     615,550      55,003      88,701     125,727     262,357     121,130      56,257      31,664      50,096     150,976     243,691
    Less: Notes held by F.R. Banks               201,056       5,948      61,077       7,259       8,897      13,723      30,363      12,974       5,328       2,726       5,806      17,359      29,596
      Federal Reserve notes, net               1,658,238      52,194     554,473      47,744      79,804     112,004     231,994     108,156      50,929      28,938      44,290     133,616     214,096
  Reverse repurchase agreements (11)             235,657       4,501     130,101       5,950       6,681      13,945      14,146      12,621       3,137       1,967       3,710       9,744      29,154
  Deposits                                     2,146,303      48,689   1,410,571      39,638      40,720     123,282      35,728     107,909       7,547       6,234      14,409      37,880     273,696
    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                           1,736,307      48,674   1,051,021      39,635      40,688     122,585      35,693      59,864       7,537       6,161      14,400      36,361     273,688
    U.S. Treasury, General Account               328,613           0     328,613           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,357           2       5,329           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    76,027          13      25,607           1          29         688          33      48,044           9          73           9       1,519           2
  Deferred availability cash items                   508           0           0           0           0           0          66           0           0         441           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,318          22         704          36          47          76         107          68          21          11          19          58         149
  Other liabilities and accrued             
     dividends                                     4,890         185       1,850         216         229         612         317         325         149         151         152         222         482
                                                                                                                                                                                                        
Total liabilities                              4,046,914     105,590   2,097,699      93,583     127,480     249,920     282,359     229,080      61,783      37,742      62,580     181,522     517,576
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,305       1,343      10,293       1,868       2,581       6,891       1,880       1,350         493         152         313         392       4,747
  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                  4,086,044     107,224   2,110,142      95,839     130,612     258,286     284,634     230,720      62,374      37,925      62,961     181,998     523,328

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, December 5, 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   
                                                                                           Dec 5, 2018  

Federal Reserve notes outstanding                                                            1,859,294  
  Less: Notes held by F.R. Banks not subject to collateralization                              201,056  
    Federal Reserve notes to be collateralized                                               1,658,238  
Collateral held against Federal Reserve notes                                                1,658,238  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,642,001  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,896,496  
  Less: Face value of securities under reverse repurchase agreements                           235,471  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,661,025  

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.