---

`FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                     May 18, 2017


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  May 17, 2017 
Federal Reserve Banks                                     May 17, 2017 May 10, 2017 May 18, 2016              

Reserve Bank credit                                         4,439,125   +    5,137   -    7,901    4,428,020  
  Securities held outright (1)                              4,254,590   +    8,939   +    8,926    4,251,580  
    U.S. Treasury securities                                2,464,658   -      148   +    2,980    2,464,638  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,339,568   -      172   -    2,724    2,339,540  
      Notes and bonds, inflation-indexed (2)                  106,803            0   +    3,669      106,803  
      Inflation compensation (3)                               18,286   +       23   +    2,033       18,295  
    Federal agency debt securities (2)                         10,120   -    1,709   -   16,690        8,834  
    Mortgage-backed securities (4)                          1,779,813   +   10,797   +   22,637    1,778,109  
  Unamortized premiums on securities held outright (5)        167,990   +      162   -   15,292      167,838  
  Unamortized discounts on securities held outright (5)       -14,845   -        4   +    1,236      -14,879  
  Repurchase agreements (6)                                         9            0   +        9            0  
  Loans                                                            66   +       25   -       11           67  
    Primary credit                                                 22   +       21   +       15           23  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                43   +        2   -       26           44  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,709            0   -        4        1,709  
  Float                                                          -358   -       56   -      178         -419  
  Central bank liquidity swaps (8)                                 36   +        1   -      970           36  
  Other Federal Reserve assets (9)                             29,929   -    3,929   -    1,616       22,087  
Foreign currency denominated assets (10)                       20,242   +       29   -      688       20,538  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             48,824   +       14   +      955       48,824  
                                                                                                              
Total factors supplying reserve funds                       4,524,432   +    5,180   -    7,634    4,513,622  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  May 17, 2017 
Federal Reserve Banks                                     May 17, 2017 May 10, 2017 May 18, 2016              

Currency in circulation (11)                                 1,547,389   +      845   +   95,875    1,548,437 
Reverse repurchase agreements (12)                             397,037   -    7,485   +  120,119      407,581 
  Foreign official and international accounts                  234,982   -    6,638   -   14,612      240,311 
  Others                                                       162,055   -      847   +  134,731      167,270 
Treasury cash holdings                                             248   -        6   +      141          247 
Deposits with F.R. Banks, other than reserve balances          291,119   +    3,792   -   48,396      261,993 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               186,080   -   12,933   -  109,259      172,891 
  Foreign official                                               5,166   -        5   -       22        5,164 
  Other (13)                                                    99,873   +   16,730   +   60,885       83,937 
Other liabilities and capital (14)                              48,310   -      105   +      512       47,691 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,284,104   -    2,957   +  168,252    2,265,949 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,240,327   +    8,136   -  175,887    2,247,673 

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, and designated financial market utilities. Also includes certain deposit
    accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as
    fiscal agents of the United States.                                                                 
14. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  May 17, 2017 
                                                          May 17, 2017 May 10, 2017 May 18, 2016              

Securities held in custody for foreign official and       
     international accounts                                  3,234,198   +   12,363   +   14,326    3,233,820 
  Marketable U.S. Treasury securities (1)                    2,921,912   +   16,568   +   17,679    2,922,061 
  Federal agency debt and mortgage-backed securities (2)       250,786   -    4,527   -   15,901      250,340 
  Other securities (3)                                          61,500   +      322   +   12,547       61,419 
Securities lent to dealers                                      24,602   +    2,816   +    7,970       22,730 
  Overnight facility (4)                                        24,602   +    2,816   +    7,970       22,730 
    U.S. Treasury securities                                    24,576   +    2,819   +    7,960       22,704 
    Federal agency debt securities                                  26   -        3   +       11           26 

Note: Components may not sum to totals because of rounding.


1.  Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.         
    Does not include securities pledged as collateral to foreign official and international account holders
    against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.     
2.  Face value of federal agency securities and current face value of mortgage-backed securities, which     
    is the remaining principal balance of the securities.                                               
3.  Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed         
    securities, and commercial paper at face value.                                                     
4.  Face value. Fully collateralized by U.S. Treasury securities.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 17, 2017        

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           66             0             0             0             0           ...            67 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  11,910        44,608       230,777     1,195,573       349,054       632,716     2,464,638 
  Weekly changes                        -    8,573    +    6,746    +    7,573    +   24,999    -   35,890    +    4,969    -      177 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0           737         3,706         2,044             0         2,347         8,834 
  Weekly changes                        -    2,995             0             0             0             0             0    -    2,995 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0           564        11,404     1,766,142     1,778,109 
  Weekly changes                                 0             0             0    +      364    +       86    +    8,643    +    9,093 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                36             0             0             0             0             0            36 
                                                                                                                                       
Reverse repurchase agreements (4)          407,581             0           ...           ...           ...           ...       407,581 
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   
                                                                                                                      May 17, 2017  

Mortgage-backed securities held outright (1)                                                                             1,778,109  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           22,007  
Commitments to sell mortgage-backed securities (2)                                                                             109  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   15  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5       
    and table 6.                                                                                        




4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      May 17, 2017  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,709  
                                                                                                                                    
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. Revalued
    quarterly. This table reflects valuations as of March 31, 2017. Any assets purchased after this     
    valuation date are initially recorded at cost until their estimated fair value as of the purchase date
    becomes available.                                                                                  
2.  Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's            
    statement of condition consistent with consolidation under generally accepted accounting principles. Refer
    to the note on consolidation accompanying table 6.                                                  
3.  Book value. The fair value of these obligations is included in other liabilities and capital in         
    table 1 and in other liabilities and accrued dividends in table 5 and table 6.                      


Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit
extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.

                                                                          






5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       May 17, 2017   Wednesday    Wednesday  
                                                        consolidation                May 10, 2017 May 18, 2016 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,835   -       25   -       23  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,404,606   +    5,939   -    3,974  
    Securities held outright (1)                                          4,251,580   +    5,920   +   10,030  
      U.S. Treasury securities                                            2,464,638   -      177   +    2,917  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,339,540   -      200   -    2,752  
        Notes and bonds, inflation-indexed (2)                              106,803            0   +    3,669  
        Inflation compensation (3)                                           18,295   +       23   +    2,000  
      Federal agency debt securities (2)                                      8,834   -    2,995   -   16,262  
      Mortgage-backed securities (4)                                      1,778,109   +    9,093   +   23,376  
    Unamortized premiums on securities held outright  
    (5)                                                                     167,838   +      107   -   15,253  
    Unamortized discounts on securities held outright 
    (5)                                                                     -14,879   -       49   +    1,256  
    Repurchase agreements (6)                                                     0   -       62            0  
    Loans                                                                        67   +       22   -        7  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,709            0   -        4  
  Items in process of collection                                   (0)           59   -        3   -      120  
  Bank premises                                                               2,198   +        2   -       22  
  Central bank liquidity swaps (8)                                               36   +        1   -      970  
  Foreign currency denominated assets (9)                                    20,538   +      474   -      306  
  Other assets (10)                                                          19,890   -   12,740   -    1,214  
                                                                                                               
Total assets                                                       (0)    4,467,108   -    6,351   -    6,633  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       May 17, 2017   Wednesday    Wednesday  
                                                        consolidation                May 10, 2017 May 18, 2016 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,501,692   +       20   +   95,109 
  Reverse repurchase agreements (11)                                         407,581   -   17,512   +   94,710 
  Deposits                                                          (0)    2,509,667   +   10,960   -  197,561 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         2,247,674   +   27,756   -  151,955 
    U.S. Treasury, General Account                                           172,891   -   15,365   -  104,398 
    Foreign official                                                           5,164   -        1   -       39 
    Other (12)                                                      (0)       83,937   -    1,430   +   58,830 
  Deferred availability cash items                                  (0)          477   +       64   +       86 
  Other liabilities and accrued dividends (13)                                 6,913   +       53   +      312 
                                                                                                               
Total liabilities                                                   (0)    4,426,330   -    6,414   -    7,343 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             30,778   +       62   +      710 
  Surplus                                                                     10,000            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 40,778   +       62   +      710 

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, and designated financial market utilities. Also includes certain deposit
    accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as
    fiscal agents of the United States.                                                                 
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



6. Statement of Condition of Each Federal Reserve Bank, May 17, 2017
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         349       3,592          348         553         776       1,520         737         341         191         292         916       1,422
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,835          49          54          172         128         276         187         287          25          53         118         184         302
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,404,606      85,817   2,480,180      113,723     127,728     258,064     259,267     185,265      58,748      34,349      62,471     176,327     562,666
    Securities held outright (1)               4,251,580      82,837   2,394,030      109,774     123,292     249,102     250,264     178,816      56,694      33,147      60,297     170,203     543,123
      U.S. Treasury securities                 2,464,638      48,020   1,387,817       63,636      71,472     144,404     145,078     103,659      32,865      19,216      34,954      98,667     314,848
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,464,638      48,020   1,387,817       63,636      71,472     144,404     145,078     103,659      32,865      19,216      34,954      98,667     314,848
      Federal agency debt securities (2)           8,834         172       4,974          228         256         518         520         372         118          69         125         354       1,129
      Mortgage-backed securities (4)           1,778,109      34,644   1,001,239       45,910      51,564     104,180     104,666      74,785      23,711      13,863      25,218      71,183     227,147
    Unamortized premiums on securities held 
      outright (5)                               167,838       3,270      94,508        4,333       4,867       9,834       9,880       7,059       2,238       1,309       2,380       6,719      21,441
    Unamortized discounts on securities     
      held outright (5)                          -14,879        -290      -8,378         -384        -431        -872        -876        -626        -198        -116        -211        -596      -1,901
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             67           0          20            0           0           0           0          16          14           9           5           0           3
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,709           0       1,709            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      59           0           0            0           0           0          58           0           0           0           0           0           0
  Bank premises                                    2,198         119         442           72         109         202         204         200         112          88         236         221         194
  Central bank liquidity swaps (8)                    36           2          12            2           3           8           2           2           0           0           0           0           5
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,538         890       6,578        1,104       1,673       4,438       1,198         860         225          87         199         263       3,024
  Other assets (10)                               19,890         438      10,682          515         585       1,357       1,182         837         367         179         353         867       2,527
  Interdistrict settlement account                     0  -    1,423  -   28,264   -    1,328  -   10,321  -   11,889  -    4,392  +   43,746  +      606  +    1,550  +    6,430  +    7,257  -    1,974
                                                                                                                                                                                                         
Total assets                                   4,467,108      86,437   2,476,802      114,818     120,695     253,644     259,881     232,357      60,574      36,588      70,253     186,317     568,740

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, May 17, 2017 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,678,333      56,626     527,416      55,159      85,619     122,476     223,547     115,817      52,424      30,773      48,314     142,605     217,558
    Less: Notes held by F.R. Banks               176,642       5,877      44,921       8,106      10,512      12,799      26,467      11,604       5,556       2,894       5,769      16,617      25,521
      Federal Reserve notes, net               1,501,692      50,749     482,496      47,053      75,107     109,678     197,079     104,213      46,868      27,879      42,546     125,988     192,038
  Reverse repurchase agreements (11)             407,581       7,941     229,506      10,524      11,819      23,880      23,992      17,142       5,435       3,178       5,780      16,317      52,067
  Deposits                                     2,509,667      25,777   1,748,449      54,804      30,137     110,559      35,957     108,893       7,655       4,792      21,380      43,225     318,040
    Term deposits held by depository        
        institutions                                   0           0           0           0           0           0           0           0           0           0           0           0           0
    Other deposits held by depository       
        institutions                           2,247,674      25,770   1,541,660      54,802      30,133     110,339      35,948      53,949       7,646       4,792      21,378      43,225     318,033
    U.S. Treasury, General Account               172,891           0     172,891           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,164           2       5,137           2           3           9           2           2           0           0           0           1           6
    Other (12)                                    83,937           5      28,761           0           0         211           7      54,942           9           0           1           0           1
  Deferred availability cash items                   477           0           0           0           0           0          53           0           0         424           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 2,074          54       1,035          65          88         192         138          82          30          16          22          79         272
  Other liabilities and accrued             
     dividends                                     4,839         163       2,297         186         194         480         308         273         132         128         125         196         357
                                                                                                                                                                                                        
Total liabilities                              4,426,330      84,683   2,463,783     112,632     117,345     244,789     257,527     230,603      60,120      36,416      69,853     185,805     562,773
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 30,778       1,321       9,817       1,648       2,535       6,694       1,771       1,335         345         129         303         385       4,494
  Surplus                                         10,000         434       3,202         538         815       2,161         583         419         109          42          97         128       1,473
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,467,108      86,437   2,476,802     114,818     120,695     253,644     259,881     232,357      60,574      36,588      70,253     186,317     568,740

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





6. Statement of Condition of Each Federal Reserve Bank, May 17, 2017 (continued)


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.                                                                                                 
2.  Face value of the securities.                                                                                                                                                                           
3.  Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.                               
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.                                                               
5.  Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency     
    debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.                                                                                                    
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.                                                                                                      
7.  Refer to table 4 and the note on consolidation below.                                                                                                                                                   
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals        
    the market exchange rate used when the foreign currency was acquired from the foreign central bank.                                                                                                 
9.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.                                                                                   
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities. Also includes certain         
    deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                   
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after          
    providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $10 billion surplus.                                                                            
                                                                                                                                                                                                            


Note on consolidation:


On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the
remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual
returns and could have absorbed any residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the
assets and liabilities of FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was
eliminated, the net assets of ML appeared as assets on the previous page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only
to the ML portfolio holdings, were included in other liabilities in this table (and table 1 and table 5).

                                                                                 



7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          May 17, 2017  

Federal Reserve notes outstanding                                                            1,678,333  
  Less: Notes held by F.R. Banks not subject to collateralization                              176,642  
    Federal Reserve notes to be collateralized                                               1,501,692  
Collateral held against Federal Reserve notes                                                1,501,692  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,485,455  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,251,580  
  Less: Face value of securities under reverse repurchase agreements                           396,627  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,854,953  

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.`

Statistical releases

---

Home Economic research and data  Accessibility Contact Us  Last update:  May 18, 2017