FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                December 13, 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 12, 2018 
Federal Reserve Banks                                     Dec 12, 2018  Dec 5, 2018 Dec 13, 2017              

Reserve Bank credit                                         4,048,583   +      816   -  352,179    4,049,260  
  Securities held outright (1)                              3,896,464   -    1,741   -  331,176    3,896,485  
    U.S. Treasury securities                                2,240,586   -    1,740   -  213,676    2,240,606  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,101,796   -    1,941   -  222,608    2,101,796  
      Notes and bonds, inflation-indexed (2)                  116,545   +      138   +    6,411      116,545  
      Inflation compensation (3)                               22,245   +       62   +    2,521       22,266  
    Federal agency debt securities (2)                          2,409            0   -    1,982        2,409  
    Mortgage-backed securities (4)                          1,653,470            0   -  115,516    1,653,470  
  Unamortized premiums on securities held outright (5)        141,349   -      245   -   18,440      141,265  
  Unamortized discounts on securities held outright (5)       -13,520   +       25   +      678      -13,510  
  Repurchase agreements (6)                                         0   -       19            0            0  
  Loans                                                            72   +       17   +       28           69  
    Primary credit                                                 21   +       16   +       13            9  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                51   +        1   +       15           60  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     7            0   -    1,704            7  
  Float                                                          -195   +      292   +       65         -405  
  Central bank liquidity swaps (8)                                120   -       74   +       78          120  
  Other Federal Reserve assets (9)                             24,285   +    2,561   -    1,709       25,229  
Foreign currency denominated assets (10)                       20,653   +       27   -      422       20,612  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,863   +       14   +      523       49,863  
                                                                                                              
Total factors supplying reserve funds                       4,135,340   +      857   -  352,078    4,135,976  

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 12, 2018 
Federal Reserve Banks                                     Dec 12, 2018  Dec 5, 2018 Dec 13, 2017              

Currency in circulation (11)                                 1,705,098   +      545   +  102,634    1,705,801 
Reverse repurchase agreements (12)                             237,320   +    4,800   -   85,091      235,444 
  Foreign official and international accounts                  234,105   +    4,136   +    9,073      234,983 
  Others                                                         3,215   +      664   -   94,163          461 
Treasury cash holdings                                             202   -        1   +        2          201 
Deposits with F.R. Banks, other than reserve balances          412,086   -    2,151   +  250,703      398,381 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               334,967   -    2,597   +  258,759      322,663 
  Foreign official                                               5,254   -       17   +       13        5,243 
  Other (13)                                                    71,864   +      462   -    8,069       70,475 
Other liabilities and capital (14)                              45,095   +      266   -    3,302       44,737 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,399,801   +    3,459   +  264,946    2,384,564 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,735,539   -    2,602   -  617,023    1,751,413 

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 12, 2018 
                                                          Dec 12, 2018  Dec 5, 2018 Dec 13, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,384,504   -   19,408   -      149    3,391,859 
  Marketable U.S. Treasury securities (1)                    3,009,199   -   19,723   -   32,874    3,016,534 
  Federal agency debt and mortgage-backed securities (2)       308,412   +       69   +   44,260      308,398 
  Other securities (3)                                          66,893   +      247   -   11,536       66,927 
Securities lent to dealers                                      20,851   +    1,862   -       12       21,491 
  Overnight facility (4)                                        20,851   +    1,862   -       12       21,491 
    U.S. Treasury securities                                    20,851   +    1,862   -       12       21,491 
    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 12, 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                                           39            30             0             0             0           ...            69 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       0        90,542       302,120       964,800       264,567       618,578     2,240,606 
  Weekly changes                                 0    +        1             0    +        8    +       20    +       27    +       55 
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             0             0             0             0             0 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)               120             0             0             0             0             0           120 
                                                                                                                                       
Reverse repurchase agreements (4)          235,444             0           ...           ...           ...           ...       235,444 
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 12, 2018  

Mortgage-backed securities held outright (1)                                                                             1,653,470  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              356  
Commitments to sell mortgage-backed securities (2)                                                                             133  
                                                                                                                                    
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 12, 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 12, 2018   Wednesday    Wednesday  
                                                        consolidation                 Dec 5, 2018 Dec 13, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,722   +       13   -      161  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,024,309   -      178   -  360,458  
    Securities held outright (1)                                          3,896,485   +       55   -  342,398  
      U.S. Treasury securities                                            2,240,606   +       55   -  213,650  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,101,796            0   -  222,608  
        Notes and bonds, inflation-indexed (2)                              116,545            0   +    6,411  
        Inflation compensation (3)                                           22,266   +       56   +    2,549  
      Federal agency debt securities (2)                                      2,409            0   -    1,982  
      Mortgage-backed securities (4)                                      1,653,470            0   -  126,767  
    Unamortized premiums on securities held outright  
    (5)                                                                     141,265   -      208   -   18,771  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,510   +       29   +      677  
    Repurchase agreements (6)                                                     0   -       66            0  
    Loans                                                                        69   +       12   +       34  
  Net portfolio holdings of Maiden Lane LLC (7)                                   7            0   -    1,705  
  Items in process of collection                                   (0)           78   +       16   +        8  
  Bank premises                                                               2,195   +        3   -       17  
  Central bank liquidity swaps (8)                                              120   -       74   +       78  
  Foreign currency denominated assets (9)                                    20,612   +        1   -      470  
  Other assets (10)                                                          23,034   +    2,489   -    1,688  
                                                                                                               
Total assets                                                       (0)    4,088,314   +    2,270   -  364,412  

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 12, 2018   Wednesday    Wednesday  
                                                        consolidation                 Dec 5, 2018 Dec 13, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,657,857   -      381   +  101,080 
  Reverse repurchase agreements (11)                                         235,444   -      213   -  136,685 
  Deposits                                                          (0)    2,149,794   +    3,491   -  324,657 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,751,413   +   15,106   -  571,349 
    U.S. Treasury, General Account                                           322,663   -    5,950   +  257,929 
    Foreign official                                                           5,243   -      114   -        9 
    Other (12)                                                      (0)       70,475   -    5,552   -   11,228 
  Deferred availability cash items                                  (0)          483   -       25   +      161 
  Other liabilities and accrued dividends (13)                                 5,546   -      662   -    2,180 
                                                                                                               
Total liabilities                                                   (0)    4,049,123   +    2,209   -  362,282 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,366   +       61   +    1,045 
  Surplus                                                                      6,825            0   -    3,175 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,191   +       61   -    2,130 

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 12, 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                                             1,722          41          37          148         122         236         180         286          26          45         111         195         295
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,024,309      76,864   2,221,693      101,604     114,089     238,139     241,562     215,538      53,606      33,601      63,356     166,401     497,856
    Securities held outright (1)               3,896,485      74,419   2,151,162       98,378     110,467     230,579     233,893     208,687      51,875      32,516      61,340     161,119     482,050
      U.S. Treasury securities                 2,240,606      42,793   1,236,988       56,571      63,522     132,590     134,496     120,002      29,830      18,698      35,272      92,649     277,195
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,240,606      42,793   1,236,988       56,571      63,522     132,590     134,496     120,002      29,830      18,698      35,272      92,649     277,195
      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)                               141,265       2,698      77,989        3,567       4,005       8,360       8,480       7,566       1,881       1,179       2,224       5,841      17,476
    Unamortized discounts on securities     
      held outright (5)                          -13,510        -258      -7,458         -341        -383        -799        -811        -724        -180        -113        -213        -559      -1,671
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             69           5           1            0           0           0           0           9          30          18           5           0           1
  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                      78           0           0            0           0           0          78           0           0           0           0           0           0
  Bank premises                                    2,195         108         453           81         117         195         205         193         106          95         232         220         189
  Central bank liquidity swaps (8)                   120           5          38            7          10          26           7           5           2           1           1           1          18
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,612         877       6,499        1,171       1,664       4,452       1,191         874         297          95         204         255       3,034
  Other assets (10)                               23,034         466      12,174          570         658       1,569       1,371       1,197         521         256         412       1,045       2,795
  Interdistrict settlement account                     0  +    9,266  -   48,131   -   10,330  +    5,727  -    5,103  +   34,081  -      187  +    8,038  +    3,662  -    3,240  +    7,278  -    1,060
                                                                                                                                                                                                         
Total assets                                   4,088,314      88,187   2,198,213       93,810     123,167     240,700     280,820     219,070      63,080      38,043      61,536     176,583     505,105

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 12, 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            1,861,473      58,191     616,600      55,129      88,801     125,703     261,993     121,518      56,241      31,644      50,119     151,102     244,433
    Less: Notes held by F.R. Banks               203,616       6,073      60,523       7,379       8,899      13,553      30,858      13,605       5,286       2,835       5,909      17,806      30,891
      Federal Reserve notes, net               1,657,857      52,117     556,078      47,750      79,902     112,150     231,135     107,913      50,955      28,809      44,210     133,296     213,542
  Reverse repurchase agreements (11)             235,444       4,497     129,983       5,944       6,675      13,933      14,133      12,610       3,135       1,965       3,706       9,736      29,128
  Deposits                                     2,149,794      29,687   1,497,618      37,625      33,198     105,583      32,801      96,552       8,228       6,500      13,055      32,792     256,156
    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                           1,751,413      29,667   1,147,004      37,622      33,169     105,226      32,763      49,451       8,219       6,443      13,042      32,660     256,149
    U.S. Treasury, General Account               322,663           0     322,663           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,243           2       5,216           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    70,475          18      22,736           1          26         349          36      47,100           9          57          13         131           1
  Deferred availability cash items                   483           0           0           0           0           0          61           0           0         421           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,309          25         683          34          42          70         108          66          22          13          32          69         146
  Other liabilities and accrued             
     dividends                                     4,237         178       1,407         201         218         595         307         290         149         151         152         209         381
                                                                                                                                                                                                        
Total liabilities                              4,049,123      86,504   2,185,770      91,554     120,035     232,331     278,545     217,431      62,488      37,858      61,155     176,100     499,353
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,366       1,393      10,293       1,868       2,581       6,895       1,880       1,350         493         154         313         399       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                  4,088,314      88,187   2,198,213      93,810     123,167     240,700     280,820     219,070      63,080      38,043      61,536     176,583     505,105

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 12, 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 12, 2018  

Federal Reserve notes outstanding                                                            1,861,473  
  Less: Notes held by F.R. Banks not subject to collateralization                              203,616  
    Federal Reserve notes to be collateralized                                               1,657,857  
Collateral held against Federal Reserve notes                                                1,657,857  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,641,620  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,896,485  
  Less: Face value of securities under reverse repurchase agreements                           232,595  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,663,890  

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.