---

`FEDERAL RESERVE statistical release

For Release at
4:30 P.M. EST
March 1, 2018


Publication Note


The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," has been modified to reflect the policies under which Federal
Reserve Banks make payments of their residual net earnings to the U.S. Treasury.? The "Bipartisan Budget Act of
2018" ("Budget Act"), which was enacted on February 9, 2018, requires that aggregate Federal Reserve Bank
capital surplus not exceed $7.5 billion.? Therefore, any amount of aggregate Federal Reserve Bank capital surplus
that exceeds this limit will be remitted to the U.S. Treasury. ?                                            

The amounts of the line items "Other liabilities and capital" on table 1, and "Surplus" on tables 5 and 6
reflect the lump-sum payment of approximately $2.5 billion to the Treasury on February 22, 2018, which was
necessary to reduce aggregate Reserve Bank capital surplus to the $7.5 billion limitation in the Budget Act.



FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                    March 1, 2018


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Feb 28, 2018 
Federal Reserve Banks                                     Feb 28, 2018 Feb 21, 2018  Mar 1, 2017              

Reserve Bank credit                                         4,366,093   -    3,060   -   60,562    4,352,250  
  Securities held outright (1)                              4,200,714   -    2,999   -   45,242    4,188,604  
    U.S. Treasury securities                                2,431,015   -    1,056   -   32,450    2,424,242  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,302,129   -    1,374   -   38,976    2,293,885  
      Notes and bonds, inflation-indexed (2)                  109,743   +      330   +    4,535      111,220  
      Inflation compensation (3)                               19,143   -       12   +    1,990       19,137  
    Federal agency debt securities (2)                          4,391            0   -    8,938        4,391  
    Mortgage-backed securities (4)                          1,765,308   -    1,942   -    3,853    1,759,972  
  Unamortized premiums on securities held outright (5)        156,309   -      396   -   14,411      156,044  
  Unamortized discounts on securities held outright (5)       -14,093   +       21   +      934      -14,128  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            23            0   -       28           27  
    Primary credit                                                  8   +        1   -       41           13  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                14   -        2   +       12           14  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                 1,710   -        5   +        5        1,708  
  Float                                                          -371   -      232   +      244         -807  
  Central bank liquidity swaps (8)                                 72   +        5   -    1,032           72  
  Other Federal Reserve assets (9)                             21,731   +      547   -    1,029       20,729  
Foreign currency denominated assets (10)                       22,136   -      173   +    2,262       22,089  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,493   +       14   +      810       49,493  
                                                                                                              
Total factors supplying reserve funds                       4,453,964   -    3,218   -   57,489    4,440,074  

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  Feb 28, 2018 
Federal Reserve Banks                                     Feb 28, 2018 Feb 21, 2018  Mar 1, 2017              

Currency in circulation (11)                                 1,623,177   +    3,820   +  107,687    1,627,259 
Reverse repurchase agreements (12)                             255,334   -    3,168   -  164,952      277,458 
  Foreign official and international accounts                  232,828   -    1,531   -   18,334      232,948 
  Others                                                        22,506   -    1,638   -  146,618       44,510 
Treasury cash holdings                                             295   +       14   +       42          304 
Deposits with F.R. Banks, other than reserve balances          297,149   -   10,933   +   31,427      281,688 
  Term deposits held by depository institutions                      0            0   -   16,625            0 
  U.S. Treasury, General Account                               202,620   -   12,057   +   27,124      199,390 
  Foreign official                                               5,254            0   +       84        5,255 
  Other (13)                                                    89,275   +    1,124   +   20,843       77,043 
Other liabilities and capital (14)                              45,062   -    2,518   -    3,018       45,057 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,221,017   -   12,785   -   28,813    2,231,766 
                                                                                                              
Reserve balances with Federal Reserve Banks                  2,232,947   +    9,567   -   28,676    2,208,308 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements.                                                                               
7.  Refer to table 4 and the note on consolidation accompanying table 6.                                    
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for       
    depreciation.                                                                                       
10. Revalued daily at current foreign currency exchange rates.                                              
11. Estimated.                                                                                              
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
14. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Feb 28, 2018 
                                                          Feb 28, 2018 Feb 21, 2018  Mar 1, 2017              

Securities held in custody for foreign official and       
     international accounts                                  3,418,332   +    5,881   +  242,552    3,423,019 
  Marketable U.S. Treasury securities (1)                    3,074,405   +    4,703   +  228,339    3,078,504 
  Federal agency debt and mortgage-backed securities (2)       263,472   +    1,366   -    3,199      264,291 
  Other securities (3)                                          80,455   -      188   +   17,412       80,223 
Securities lent to dealers                                      26,485   -      405   +    7,227       25,925 
  Overnight facility (4)                                        26,485   -      405   +    7,227       25,925 
    U.S. Treasury securities                                    26,485   -      405   +    7,278       25,925 
    Federal agency debt securities                                   0            0   -       51            0 

Note: Components may not sum to totals because of rounding.


1.  Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.         
    Does not include securities pledged as collateral to foreign official and international account holders
    against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.     
2.  Face value of federal agency securities and current face value of mortgage-backed securities, which     
    is the remaining principal balance of the securities.                                               
3.  Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed         
    securities, and commercial paper at face value.                                                     
4.  Face value. Fully collateralized by U.S. Treasury securities.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, February 28, 2018   

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           27             0             0             0             0           ...            27 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                       0        92,002       326,901     1,081,426       297,846       626,067     2,424,242 
  Weekly changes                        -   32,047             0    +   12,529    +   12,261    -    2,369    +    1,802    -    7,824 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0         1,982            62             0         2,347         4,391 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             1           170        36,089     1,723,712     1,759,972 
  Weekly changes                                 0             0             0    -        6    -      627    -    8,693    -    9,326 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                72             0             0             0             0             0            72 
                                                                                                                                       
Reverse repurchase agreements (4)          277,458             0           ...           ...           ...           ...       277,458 
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   
                                                                                                                      Feb 28, 2018  

Mortgage-backed securities held outright (1)                                                                             1,759,972  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           13,714  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   10  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5       
    and table 6.                                                                                        




4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Feb 28, 2018  

Net portfolio holdings of Maiden Lane LLC (1)                                                                                1,708  
                                                                                                                                    
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)                                        0  
Accrued interest payable to the Federal Reserve Bank of New York (2)                                                             0  
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)                                    0  



1.  Fair value. Fair value reflects an estimate of the price that would be received upon selling an         
    asset if the transaction were to be conducted in an orderly market on the measurement date. Assets are
    revalued quarterly.                                                                                 
2.  Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's            
    statement of condition consistent with consolidation under generally accepted accounting principles. Refer
    to the note on consolidation accompanying table 6.                                                  
3.  Book value. The fair value of these obligations is included in other liabilities and capital in         
    table 1 and in other liabilities and accrued dividends in table 5 and table 6.                      


Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit
extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior
loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were
repaid in full, with interest.

                                                                          






5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Feb 28, 2018   Wednesday    Wednesday  
                                                        consolidation                Feb 21, 2018  Mar 1, 2017 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,919   -       15   -       23  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,330,547   -   17,741   -   64,839  
    Securities held outright (1)                                          4,188,604   -   17,151   -   51,399  
      U.S. Treasury securities                                            2,424,242   -    7,824   -   39,246  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,293,885   -    9,618   -   46,526  
        Notes and bonds, inflation-indexed (2)                              111,220   +    1,807   +    5,319  
        Inflation compensation (3)                                           19,137   -       12   +    1,962  
      Federal agency debt securities (2)                                      4,391            0   -    8,938  
      Mortgage-backed securities (4)                                      1,759,972   -    9,326   -    3,214  
    Unamortized premiums on securities held outright  
    (5)                                                                     156,044   -      561   -   14,390  
    Unamortized discounts on securities held outright 
    (5)                                                                     -14,128   -       23   +      924  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        27   -        6   +       25  
  Net portfolio holdings of Maiden Lane LLC (7)                               1,708   -        2   +        3  
  Items in process of collection                                   (0)           99   -       31   +       20  
  Bank premises                                                               2,206   +        3   +       10  
  Central bank liquidity swaps (8)                                               72   +        5   -    1,060  
  Foreign currency denominated assets (9)                                    22,089   -       17   +    2,334  
  Other assets (10)                                                          18,523   -      461   -    1,062  
                                                                                                               
Total assets                                                       (0)    4,393,401   -   18,259   -   64,617  

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       Feb 28, 2018   Wednesday    Wednesday  
                                                        consolidation                Feb 21, 2018  Mar 1, 2017 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,579,985   +    5,589   +  104,873 
  Reverse repurchase agreements (11)                                         277,458   -    2,712   -  127,430 
  Deposits                                                          (0)    2,489,995   -   19,919   -   40,286 
    Term deposits held by depository institutions                                  0            0   -   16,625 
    Other deposits held by depository institutions                         2,208,308   -    7,031   -   99,646 
    U.S. Treasury, General Account                                           199,390   -    9,427   +   51,005 
    Foreign official                                                           5,255            0   +       91 
    Other (12)                                                      (0)       77,043   -    3,459   +   24,889 
  Deferred availability cash items                                  (0)          906   +      597   +      453 
  Other liabilities and accrued dividends (13)                                 5,893   +      603   -      857 
                                                                                                               
Total liabilities                                                   (0)    4,354,237   -   15,842   -   63,247 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,664   +       83   +    1,130 
  Surplus                                                                      7,500   -    2,500   -    2,500 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,164   -    2,417   -    1,370 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.      
7.  Refer to table 4 and the note on consolidation accompanying table 6.                                    
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Revalued daily at current foreign currency exchange rates.                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable.                                                                                
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



6. Statement of Condition of Each Federal Reserve Bank, February 28, 2018
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         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                                             1,919          57          49          196         130         275         196         306          37          52         113         202         307
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,330,547      84,375   2,438,481      111,812     125,581     253,732     254,910     182,148      57,747      33,766      61,426     173,364     553,208
    Securities held outright (1)               4,188,604      81,610   2,358,569      108,148     121,466     245,413     246,557     176,167      55,854      32,656      59,404     167,682     535,079
      U.S. Treasury securities                 2,424,242      47,233   1,365,071       62,593      70,301     142,038     142,700     101,960      32,327      18,901      34,381      97,050     309,688
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,424,242      47,233   1,365,071       62,593      70,301     142,038     142,700     101,960      32,327      18,901      34,381      97,050     309,688
      Federal agency debt securities (2)           4,391          86       2,473          113         127         257         258         185          59          34          62         176         561
      Mortgage-backed securities (4)           1,759,972      34,291     991,026       45,442      51,038     103,118     103,598      74,022      23,469      13,722      24,960      70,457     224,830
    Unamortized premiums on securities held 
      outright (5)                               156,044       3,040      87,867        4,029       4,525       9,143       9,185       6,563       2,081       1,217       2,213       6,247      19,934
    Unamortized discounts on securities     
      held outright (5)                          -14,128        -275      -7,955         -365        -410        -828        -832        -594        -188        -110        -200        -566      -1,805
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             27           0           0            0           0           4           0          12           0           3           9           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                  1,708           0       1,708            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      99           0           0            0           0           0          99           0           0           0           0           0           0
  Bank premises                                    2,206         112         452           74         121         197         203         203         109          87         235         221         192
  Central bank liquidity swaps (8)                    72           3          23            4           6          16           4           3           1           0           1           1          11
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   22,089         957       7,085        1,187       1,798       4,770       1,288         924         241          93         214         282       3,250
  Other assets (10)                               18,523         392       9,874          472         543       1,279       1,105         777         538         157         324         737       2,326
  Interdistrict settlement account                     0  +    4,232  -   50,470   -      272  -    3,578  +   15,598  +   16,345  +   46,936  +      170  +    2,638  +    4,989  +      514  -   37,101
                                                                                                                                                                                                         
Total assets                                   4,393,401      90,673   2,412,612      114,031     125,390     277,054     276,323     232,457      59,333      37,075      67,747     176,519     524,188

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, February 28, 2018 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,765,751      56,881     602,335      53,950      83,992     119,139     243,141     114,974      52,262      30,842      47,562     139,985     220,686
    Less: Notes held by F.R. Banks               185,766       6,968      49,824       6,958       9,843      14,750      25,815      12,693       5,258       3,648       6,294      17,514      26,201
      Federal Reserve notes, net               1,579,985      49,913     552,511      46,992      74,148     104,389     217,326     102,281      47,004      27,194      41,268     122,471     194,485
  Reverse repurchase agreements (11)             277,458       5,406     156,234       7,164       8,046      16,256      16,332      11,670       3,700       2,163       3,935      11,107      35,444
  Deposits                                     2,489,995      33,513   1,688,922      57,363      39,818     147,361      39,928     116,512       7,896       6,573      22,005      42,182     287,921
    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                           2,208,308      33,507   1,462,589      57,361      39,815     147,149      39,919      61,407       7,890       6,573      22,003      42,181     287,915
    U.S. Treasury, General Account               199,390           0     199,390           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,255           2       5,228           2           3           9           2           2           0           0           0           1           6
    Other (12)                                    77,043           5      21,715           0           0         204           7      55,104           6           0           2           0           1
  Deferred availability cash items                   906           0           0           0           0           0          87           0           0         819           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,435          29         776          34          46          68         115          52          24          12          20          73         187
  Other liabilities and accrued             
     dividends                                     4,458         157       1,824         190         192         502         293         292         131         134         133         209         401
                                                                                                                                                                                                        
Total liabilities                              4,354,237      89,018   2,400,268     111,743     122,250     268,577     274,082     230,806      58,755      36,896      67,361     176,042     518,439
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,664       1,336       9,980       1,861       2,535       6,856       1,808       1,332         470         145         312         384       4,645
  Surplus                                          7,500         319       2,364         426         605       1,620         433         318         108          34          74          93       1,104
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,393,401      90,673   2,412,612     114,031     125,390     277,054     276,323     232,457      59,333      37,075      67,747     176,519     524,188

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, February 28, 2018 (continued)


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.                                                                                                 
2.  Face value of the securities.                                                                                                                                                                           
3.  Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.                               
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.                                                               
5.  Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency     
    debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.                                                                                                    
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.                                                                                                      
7.  Refer to table 4 and the note on consolidation below.                                                                                                                                                   
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals        
    the market exchange rate used when the foreign currency was acquired from the foreign central bank.                                                                                                 
9.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.                                                                                   
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by              
    depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
    Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                                                                          
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after          
    providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $7.5 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   
                                                                                          Feb 28, 2018  

Federal Reserve notes outstanding                                                            1,765,751  
  Less: Notes held by F.R. Banks not subject to collateralization                              185,766  
    Federal Reserve notes to be collateralized                                               1,579,985  
Collateral held against Federal Reserve notes                                                1,579,985  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,563,748  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,188,604  
  Less: Face value of securities under reverse repurchase agreements                           278,733  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,909,871  

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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