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`FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                     May 25, 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 24, 2017 
Federal Reserve Banks                                     May 24, 2017 May 17, 2017 May 25, 2016              

Reserve Bank credit                                         4,434,634   -    4,491   +    3,348    4,431,843  
  Securities held outright (1)                              4,256,760   +    2,170   +   18,744    4,253,877  
    U.S. Treasury securities                                2,464,652   -        6   +    2,887    2,464,660  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,339,540   -       28   -    2,723    2,339,540  
      Notes and bonds, inflation-indexed (2)                  106,803            0   +    3,669      106,803  
      Inflation compensation (3)                               18,309   +       23   +    1,941       18,317  
    Federal agency debt securities (2)                          8,834   -    1,286   -   16,262        8,834  
    Mortgage-backed securities (4)                          1,783,274   +    3,461   +   32,120    1,780,383  
  Unamortized premiums on securities held outright (5)        167,879   -      111   -   14,849      167,646  
  Unamortized discounts on securities held outright (5)       -14,860   -       15   +    1,251      -14,849  
  Repurchase agreements (6)                                         9            0   -       78           62  
  Loans                                                            50   -       16   -       34           57  
    Primary credit                                                  5   -       17   -        2           11  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                45   +        2   -       32           47  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,709            0   -        4        1,710  
  Float                                                          -236   +      122   -       91         -351  
  Central bank liquidity swaps (8)                                 41   +        5   -      965           41  
  Other Federal Reserve assets (9)                             23,283   -    6,646   -      625       23,649  
Foreign currency denominated assets (10)                       20,598   +      356   -      113       20,541  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             48,838   +       14   +      942       48,838  
                                                                                                              
Total factors supplying reserve funds                       4,520,311   -    4,121   +    4,177    4,517,463  

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 24, 2017 
Federal Reserve Banks                                     May 24, 2017 May 17, 2017 May 25, 2016              

Currency in circulation (11)                                 1,548,335   +      946   +   96,134    1,551,551 
Reverse repurchase agreements (12)                             425,496   +   28,459   +  115,644      427,317 
  Foreign official and international accounts                  239,643   +    4,661   -    6,509      242,371 
  Others                                                       185,853   +   23,798   +  122,153      184,946 
Treasury cash holdings                                             247   -        1   +      143          245 
Deposits with F.R. Banks, other than reserve balances          275,004   -   16,115   -   99,043      284,636 
  Term deposits held by depository institutions                 16,347   +   16,347   -   50,473       16,347 
  U.S. Treasury, General Account                               167,165   -   18,915   -  101,454      163,058 
  Foreign official                                               5,210   +       44   +       31        5,164 
  Other (13)                                                    86,281   -   13,592   +   52,852      100,067 
Other liabilities and capital (14)                              48,818   +      508   +    1,425       47,551 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,297,900   +   13,796   +  114,303    2,311,300 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,222,412   -   17,915   -  110,125    2,206,163 

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 24, 2017 
                                                          May 24, 2017 May 17, 2017 May 25, 2016              

Securities held in custody for foreign official and       
     international accounts                                  3,244,210   +   10,012   +   26,084    3,234,858 
  Marketable U.S. Treasury securities (1)                    2,919,056   -    2,856   +   15,347    2,910,623 
  Federal agency debt and mortgage-backed securities (2)       263,760   +   12,974   -    1,944      262,833 
  Other securities (3)                                          61,395   -      105   +   12,683       61,402 
Securities lent to dealers                                      22,006   -    2,596   +      602       23,178 
  Overnight facility (4)                                        22,006   -    2,596   +      602       23,178 
    U.S. Treasury securities                                    21,989   -    2,587   +      600       23,162 
    Federal agency debt securities                                  17   -        9   +        2           16 

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 24, 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                                           56             2             0             0             0           ...            57 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  11,910        44,608       230,778     1,195,577       349,059       632,730     2,464,660 
  Weekly changes                                 0             0    +        1    +        4    +        5    +       14    +       22 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0           737         3,706         2,044             0         2,347         8,834 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             0           563        11,400     1,768,420     1,780,383 
  Weekly changes                                 0             0             0    -        1    -        4    +    2,278    +    2,274 
Repurchase agreements (4)                       62             0           ...           ...           ...           ...            62 
Central bank liquidity swaps (5)                41             0             0             0             0             0            41 
                                                                                                                                       
Reverse repurchase agreements (4)          427,317             0           ...           ...           ...           ...       427,317 
Term deposits                               16,347             0             0           ...           ...           ...        16,347 

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 24, 2017  

Mortgage-backed securities held outright (1)                                                                             1,780,383  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           19,813  
Commitments to sell mortgage-backed securities (2)                                                                              20  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   11  



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 24, 2017  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,710  
                                                                                                                                    
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 24, 2017   Wednesday    Wednesday  
                                                        consolidation                May 17, 2017 May 25, 2016 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,820   -       15   -       17  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,406,794   +    2,188   +    9,949  
    Securities held outright (1)                                          4,253,877   +    2,297   +   24,070  
      U.S. Treasury securities                                            2,464,660   +       22   +    3,023  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,339,540            0   -    2,552  
        Notes and bonds, inflation-indexed (2)                              106,803            0   +    3,669  
        Inflation compensation (3)                                           18,317   +       22   +    1,906  
      Federal agency debt securities (2)                                      8,834            0   -   16,262  
      Mortgage-backed securities (4)                                      1,780,383   +    2,274   +   37,309  
    Unamortized premiums on securities held outright  
    (5)                                                                     167,646   -      192   -   14,751  
    Unamortized discounts on securities held outright 
    (5)                                                                     -14,849   +       30   +    1,240  
    Repurchase agreements (6)                                                    62   +       62   -      548  
    Loans                                                                        57   -       10   -       63  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,710   +        1   -        3  
  Items in process of collection                                   (0)           60   +        1   -       84  
  Bank premises                                                               2,199   +        1   -       21  
  Central bank liquidity swaps (8)                                               41   +        5   -      965  
  Foreign currency denominated assets (9)                                    20,541   +        3   -      126  
  Other assets (10)                                                          21,450   +    1,560   +    1,008  
                                                                                                               
Total assets                                                       (0)    4,470,852   +    3,744   +    9,741  

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 24, 2017   Wednesday    Wednesday  
                                                        consolidation                May 17, 2017 May 25, 2016 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,504,774   +    3,082   +   96,286 
  Reverse repurchase agreements (11)                                         427,317   +   19,736   +  115,594 
  Deposits                                                          (0)    2,490,799   -   18,868   -  203,638 
    Term deposits held by depository institutions                             16,347   +   16,347   -   50,473 
    Other deposits held by depository institutions                         2,206,163   -   41,511   -  133,824 
    U.S. Treasury, General Account                                           163,058   -    9,833   -   94,034 
    Foreign official                                                           5,164            0   -       15 
    Other (12)                                                      (0)      100,067   +   16,130   +   74,708 
  Deferred availability cash items                                  (0)          411   -       66   +      136 
  Other liabilities and accrued dividends (13)                                 6,746   -      167   +      651 
                                                                                                               
Total liabilities                                                   (0)    4,430,048   +    3,718   +    9,030 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             30,804   +       26   +      710 
  Surplus                                                                     10,000            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 40,804   +       26   +      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 24, 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                                             1,820          48          54          172         128         273         188         282          24          54         116         181         300
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,406,794      85,860   2,481,400      113,780     127,791     258,193     259,398     185,357      58,777      34,372      62,507     176,415     562,944
    Securities held outright (1)               4,253,877      82,881   2,395,324      109,833     123,359     249,237     250,399     178,913      56,725      33,165      60,330     170,295     543,417
      U.S. Treasury securities                 2,464,660      48,021   1,387,830       63,636      71,473     144,406     145,079     103,660      32,866      19,216      34,955      98,668     314,851
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,464,660      48,021   1,387,830       63,636      71,473     144,406     145,079     103,660      32,866      19,216      34,955      98,668     314,851
      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)           1,780,383      34,688   1,002,519       45,969      51,629     104,314     104,800      74,881      23,741      13,881      25,250      71,274     227,437
    Unamortized premiums on securities held 
      outright (5)                               167,646       3,266      94,400        4,329       4,862       9,822       9,868       7,051       2,236       1,307       2,378       6,711      21,416
    Unamortized discounts on securities     
      held outright (5)                          -14,849        -289      -8,361         -383        -431        -870        -874        -625        -198        -116        -211        -594      -1,897
    Repurchase agreements (6)                         62           1          35            2           2           4           4           3           1           0           1           2           8
    Loans                                             57           0           3            0           0           0           2          15          14          15           9           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,710           0       1,710            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      60           0           0            0           0           0          60           0           0           0           0           0           0
  Bank premises                                    2,199         121         441           71         109         202         203         200         112          88         236         221         194
  Central bank liquidity swaps (8)                    41           2          13            2           3           9           2           2           0           0           0           1           6
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,541         890       6,579        1,104       1,673       4,438       1,198         860         225          87         199         263       3,024
  Other assets (10)                               21,450         458      11,519          549         620       1,439       1,269         901         486         185         359         949       2,718
  Interdistrict settlement account                     0  +    6,104  -   45,135   -    1,564  -    3,513  -    7,409  -    2,592  +   48,305  -      376  +    1,889  +    7,485  +    4,009  -    7,203
                                                                                                                                                                                                         
Total assets                                   4,470,852      94,027   2,461,992      114,673     127,602     258,333     261,900     237,068      59,739      36,955      71,348     183,236     563,980

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 24, 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            1,680,232      56,854     526,552      55,457      85,584     122,432     223,627     116,094      52,562      31,097      48,562     142,907     218,504
    Less: Notes held by F.R. Banks               175,458       5,701      45,374       8,053      10,214      12,501      26,749      11,241       5,513       2,824       5,642      16,373      25,272
      Federal Reserve notes, net               1,504,774      51,153     481,178      47,404      75,370     109,931     196,878     104,853      47,048      28,273      42,920     126,534     193,232
  Reverse repurchase agreements (11)             427,317       8,326     240,619      11,033      12,392      25,037      25,153      17,972       5,698       3,332       6,060      17,107      54,588
  Deposits                                     2,490,799      32,591   1,723,855      53,788      36,238     113,911      37,033     112,129       6,380       4,674      21,815      38,806     309,580
    Term deposits held by depository        
        institutions                              16,347          55       5,672       3,000         105         300          50       1,965           0           0       2,000         400       2,800
    Other deposits held by depository       
        institutions                           2,206,163      32,530   1,507,543      50,786      36,130     113,395      36,974      52,770       6,371       4,674      19,814      38,405     306,772
    U.S. Treasury, General Account               163,058           0     163,058           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)                                   100,067           4      42,444           0           0         208           7      57,393           8           0           1           0           1
  Deferred availability cash items                   411           0           0           0           0           0          53           0           0         358           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,559          31         855          39          51          90         105          59          23          16          21          71         196
  Other liabilities and accrued             
     dividends                                     5,188         173       2,465         199         202         509         323         299         135         131         131         205         417
                                                                                                                                                                                                        
Total liabilities                              4,430,048      92,273   2,448,971     112,463     124,253     249,478     259,546     235,314      59,284      36,784      70,948     182,723     558,013
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 30,804       1,321       9,819       1,672       2,535       6,694       1,771       1,336         345         129         303         385       4,495
  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                  4,470,852      94,027   2,461,992     114,673     127,602     258,333     261,900     237,068      59,739      36,955      71,348     183,236     563,980

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 24, 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 24, 2017  

Federal Reserve notes outstanding                                                            1,680,232  
  Less: Notes held by F.R. Banks not subject to collateralization                              175,458  
    Federal Reserve notes to be collateralized                                               1,504,774  
Collateral held against Federal Reserve notes                                                1,504,774  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,488,537  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,253,939  
  Less: Face value of securities under reverse repurchase agreements                           414,653  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,839,286  

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

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