FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 19, 2018

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jul 18, 2018 Jul 11, 2018 Jul 19, 2017

Wednesday

Jul 18, 2018

Reserve Bank credit 4,256,267 + 5,411 - 184,168 4,252,263

Securities held outright1 4,088,058 + 3,919 - 167,180 4,084,466

U.S. Treasury securities 2,360,214 - 243 - 104,922 2,359,766

Bills2 0 0 0 0

Notes and bonds, nominal2 2,224,276 + 115 - 113,881 2,224,429

Notes and bonds, inflation-indexed2 114,443 - 417 + 6,173 113,886

Inflation compensation3 21,496 + 60 + 2,786 21,451

Federal agency debt securities2 2,409 0 - 5,688 2,409

Mortgage-backed securities4 1,725,435 + 4,162 - 56,570 1,722,291

Unamortized premiums on securities held outright5 149,164 - 167 - 16,644 148,967

Unamortized discounts on securities held outright5 -13,890 + 24 + 794 -13,879

Repurchase agreements6 0 0 0 0

Loans 258 + 64 + 91 224

Primary credit 54 + 46 + 46 13

Secondary credit 0 0 0 0

Seasonal credit 203 + 17 + 44 211

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,711 0 + 2 1,711

Float -183 + 52 + 120 -181

Central bank liquidity swaps8 91 - 148 + 50 91

Other Federal Reserve assets9 31,059 + 1,667 - 1,399 30,865

Foreign currency denominated assets10 21,022 - 188 + 198 20,967

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 5,200 0 0 5,200

Treasury currency outstanding11 49,699 + 14 + 681 49,699

Total factors supplying reserve funds 4,343,228 + 5,236 - 183,289 4,339,170

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jul 18, 2018 Jul 11, 2018 Jul 19, 2017

Wednesday

Jul 18, 2018

Currency in circulation11 1,668,699 - 3,505 + 106,781 1,668,409

Reverse repurchase agreements12 249,739 - 11,513 - 133,741 264,459

Foreign official and international accounts 247,857 - 9,456 + 6,600 258,438

Others 1,883 - 2,056 - 140,340 6,021

Treasury cash holdings 196 + 1 + 27 200

Deposits with F.R. Banks, other than reserve balances 412,351 + 10,522 + 134,361 411,521

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 324,457 - 2,019 + 144,057 335,801

Foreign official 5,258 + 1 + 90 5,257

Other13 82,635 + 12,539 - 9,787 70,463

Other liabilities and capital14 45,125 + 698 - 3,745 44,636

Total factors, other than reserve balances,

absorbing reserve funds 2,376,109 - 3,798 + 103,683 2,389,226

Reserve balances with Federal Reserve Banks 1,967,119 + 9,034 - 286,973 1,949,944

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.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jul 18, 2018 Jul 11, 2018 Jul 19, 2017

Wednesday

Jul 18, 2018

Securities held in custody for foreign official and international

accounts 3,407,700 + 2,216 + 88,366 3,400,793

Marketable U.S. Treasury securities1 3,042,402 + 1,047 + 45,652 3,035,345

Federal agency debt and mortgage-backed securities2 292,101 + 809 + 31,442 292,107

Other securities3 73,197 + 360 + 11,272 73,341

Securities lent to dealers 17,469 - 3,142 - 5,734 18,286

Overnight facility4 17,469 - 3,142 - 5,734 18,286

U.S. Treasury securities 17,469 - 3,142 - 5,734 18,286

Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, July 18, 2018

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 169 55 0 0 0 ... 224

U.S. Treasury securities1

Holdings 30,302 63,008 310,067 1,040,534 296,154 619,701 2,359,766

Weekly changes + 29,169 - 30,302 + 2,186 - 2,024 + 117 + 115 - 738

Federal agency debt securities2

Holdings 0 0 62 0 0 2,347 2,409

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 151 41,769 1,680,371 1,722,291

Weekly changes 0 0 0 + 4 - 116 + 1,129 + 1,016

Repurchase agreements4 0 0 ... ... ... ... 0

Central bank liquidity swaps5 91 0 0 0 0 0 91

Reverse repurchase agreements4 264,459 0 ... ... ... ... 264,459

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.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Jul 18, 2018

Mortgage-backed securities held outright1 1,722,291

Commitments to buy mortgage-backed securities2 9,681

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Jul 18, 2018

Net portfolio holdings of Maiden Lane LLC1 1,711

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 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.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jul 18, 2018 Jul 11, 2018 Jul 19, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,758 + 8 - 63

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,219,778 + 28 - 184,041

Securities held outright1 4,084,466 + 278 - 168,171

U.S. Treasury securities 2,359,766 - 738 - 105,379

Bills2 0 0 0

Notes and bonds, nominal2 2,224,429 + 268 - 114,458

Notes and bonds, inflation-indexed2 113,886 - 974 + 6,235

Inflation compensation3 21,451 - 32 + 2,844

Federal agency debt securities2 2,409 0 - 5,688

Mortgage-backed securities4 1,722,291 + 1,016 - 57,103

Unamortized premiums on securities held outright5 148,967 - 298 - 16,666

Unamortized discounts on securities held outright5 -13,879 + 25 + 790

Repurchase agreements6 0 0 0

Loans 224 + 24 + 6

Net portfolio holdings of Maiden Lane LLC7 1,711 0 + 1

Items in process of collection (0) 207 + 4 + 139

Bank premises 2,185 + 2 - 12

Central bank liquidity swaps8 91 - 5 + 50

Foreign currency denominated assets9 20,967 - 181 + 36

Other assets10 28,682 + 558 - 1,397

Total assets (0) 4,291,615 + 414 - 185,288

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jul 18, 2018 Jul 11, 2018 Jul 19, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,620,664 - 3,721 + 105,804

Reverse repurchase agreements11 264,459 + 15,047 - 128,201

Deposits (0) 2,361,467 - 11,652 - 159,759

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,949,946 - 30,922 - 300,700

U.S. Treasury, General Account 335,801 + 19,367 + 146,519

Foreign official 5,257 + 1 + 93

Other12 (0) 70,463 - 97 - 5,670

Deferred availability cash items (0) 389 + 3 - 62

Other liabilities and accrued dividends13 5,732 + 732 - 1,125

Total liabilities (0) 4,252,711 + 410 - 183,345

Capital accounts

Capital paid in 32,080 + 5 + 1,233

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 38,905 + 5 - 1,942

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.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, July 18, 2018

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificate account 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,758 35 41 167 114 250 191 289 31 46 106 198 291

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,219,778 80,589 2,329,521 106,535 119,626 249,697 253,301 226,012 56,268 35,291 66,429 174,479 522,029

Securities held outright1 4,084,466 78,009 2,254,942 103,124 115,796 241,703 245,177 218,755 54,378 34,085 64,299 168,892 505,306

U.S. Treasury securities 2,359,766 45,069 1,302,774 59,579 66,900 139,642 141,649 126,384 31,416 19,692 37,148 97,576 291,936

Bills2 0 0 0 0 0 0 0 0 0 0 0 0 0

Notes and bonds3 2,359,766 45,069 1,302,774 59,579 66,900 139,642 141,649 126,384 31,416 19,692 37,148 97,576 291,936

Federal agency debt securities2 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298

Mortgage-backed securities4 1,722,291 32,894 950,838 43,484 48,828 101,919 103,384 92,242 22,929 14,372 27,113 71,216 213,072

Unamortized premiums on securities 

held outright5 148,967 2,845 82,241 3,761 4,223 8,815 8,942 7,978 1,983 1,243 2,345 6,160 18,429

Unamortized discounts on securities 

held outright5 -13,879 -265 -7,663 -350 -393 -821 -833 -743 -185 -116 -218 -574 -1,717

Repurchase agreements6 0 0 0 0 0 0 0 0 0 0 0 0 0

Loans 224 0 0 0 0 0 15 22 92 79 4 1 11

Net portfolio holdings of Maiden

Lane LLC7 1,711 0 1,711 0 0 0 0 0 0 0 0 0 0

Items in process of collection 207 0 0 0 0 0 207 0 0 0 0 0 0

Bank premises 2,185 109 442 75 118 196 203 198 107 95 233 219 189

Central bank liquidity swaps8 91 4 29 5 7 20 5 4 1 0 1 1 13

Foreign currency denominated

assets9 20,967 892 6,611 1,191 1,692 4,529 1,211 889 303 96 208 260 3,086

Other assets10 28,682 584 15,366 722 827 1,911 1,722 1,514 462 280 521 1,247 3,526

Interdistrict settlement account 0 + 4,991 + 63,397 - 4,941 - 4,086 + 5,781 + 25,221 - 12,032 - 1,987 - 1,551 - 8,427 - 3,624 - 62,742

Total assets 4,291,615 87,765 2,422,562 104,313 119,079 263,569 284,207 218,037 55,669 34,546 59,531 173,966 468,372

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, July 18, 2018 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes outstanding 1,795,188 58,997 606,042 53,751 87,394 124,955 259,795 113,182 51,787 30,395 46,872 144,513 217,504

Less: Notes held by F.R. Banks 174,524 5,852 43,937 6,460 9,232 14,089 27,051 11,947 5,281 2,934 5,206 16,548 25,986

Federal Reserve notes, net 1,620,664 53,146 562,105 47,291 78,163 110,866 232,743 101,235 46,505 27,461 41,665 127,965 191,519

Reverse repurchase agreements11 264,459 5,051 146,002 6,677 7,498 15,650 15,875 14,164 3,521 2,207 4,163 10,935 32,717

Deposits 2,361,467 27,746 1,699,565 47,873 30,092 128,165 32,753 100,646 4,903 4,365 13,172 34,305 237,882

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 1,949,946 27,714 1,336,653 47,870 30,035 127,641 32,716 52,923 4,898 4,311 13,158 34,151 237,876

U.S. Treasury, General Account 335,801 0 335,801 0 0 0 0 0 0 0 0 0 0

Foreign official 5,257 2 5,229 2 3 9 2 2 1 0 0 0 6

Other12 70,463 31 21,881 1 54 515 35 47,720 4 53 14 154 1

Deferred availability cash items 389 0 0 0 0 0 203 0 0 186 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,060 19 579 21 25 23 96 61 19 10 15 67 126

Other liabilities and accrued

dividends 4,671 170 1,950 195 197 506 305 306 130 141 139 214 417

Total liabilities 4,252,711 86,131 2,410,201 102,057 115,974 255,209 281,974 216,412 55,078 34,370 59,156 173,486 462,662

Capital

Capital paid in 32,080 1,343 10,210 1,868 2,553 6,885 1,838 1,336 492 146 308 395 4,706

Surplus 6,825 290 2,151 388 551 1,474 394 289 98 31 68 84 1,005

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 4,291,615 87,765 2,422,562 104,313 119,079 263,569 284,207 218,037 55,669 34,546 59,531 173,966 468,372

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, July 18, 2018 (continued)

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal

agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to table 4 and the note on consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain

assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of

the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any

residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation

of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous

page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1

and table 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Jul 18, 2018

Federal Reserve notes outstanding 1,795,188

Less: Notes held by F.R. Banks not subject to collateralization 174,524

Federal Reserve notes to be collateralized 1,620,664

Collateral held against Federal Reserve notes 1,620,664

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,604,427

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,084,466

Less: Face value of securities under reverse repurchase agreements 261,743

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,822,723

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.