FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 16, 2016

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

Jun 15, 2016 Jun 8, 2016 Jun 17, 2015

Wednesday

Jun 15, 2016

Reserve Bank credit 4,431,684 + 8,676 - 19,979 4,433,227

Securities held outright1 4,236,426 + 6,402 - 3,269 4,238,453

U.S. Treasury securities 2,461,983 + 136 + 1,146 2,462,032

Bills2 0 0 0 0

Notes and bonds, nominal2 2,339,286 0 - 7,356 2,339,286

Notes and bonds, inflation-indexed2 105,939 0 + 7,405 105,939

Inflation compensation3 16,757 + 136 + 1,096 16,807

Federal agency debt securities2 25,096 0 - 10,799 25,096

Mortgage-backed securities4 1,749,348 + 6,267 + 6,385 1,751,324

Unamortized premiums on securities held outright5 181,773 - 121 - 17,560 181,739

Unamortized discounts on securities held outright5 -16,007 + 32 + 1,590 -15,991

Repurchase agreements6 0 0 0 0

Loans 104 + 11 - 45 121

Primary credit 9 + 5 - 5 23

Secondary credit 0 0 0 0

Seasonal credit 95 + 6 - 40 99

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 17 1,713

Float -204 - 65 + 155 -238

Central bank liquidity swaps8 6 + 6 - 108 6

Other Federal Reserve assets9 27,873 + 2,410 - 760 27,424

Foreign currency denominated assets10 21,089 - 8 + 1,230 21,107

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,866 + 14 + 924 47,866

Total factors supplying reserve funds 4,516,879 + 8,680 - 17,826 4,518,442

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

Jun 15, 2016 Jun 8, 2016 Jun 17, 2015

Wednesday

Jun 15, 2016

Currency in circulation11 1,456,641 - 1,598 + 91,568 1,457,220

Reverse repurchase agreements12 281,678 - 12,566 + 34,813 271,369

Foreign official and international accounts 242,792 + 3,152 + 90,983 243,056

Others 38,886 - 15,718 - 56,170 28,313

Treasury cash holdings 93 - 16 - 41 89

Deposits with F.R. Banks, other than reserve balances 280,655 + 3,193 + 46,656 338,154

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 231,257 - 5,094 + 23,609 305,523

Foreign official 5,217 + 24 - 29 5,197

Other13 44,181 + 8,263 + 23,076 27,434

Other liabilities and capital14 48,658 + 152 - 18,673 46,709

Total factors, other than reserve balances,

absorbing reserve funds 2,067,726 - 10,834 + 154,325 2,113,541

Reserve balances with Federal Reserve Banks 2,449,153 + 19,514 - 172,151 2,404,901

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jun 15, 2016 Jun 8, 2016 Jun 17, 2015

Wednesday

Jun 15, 2016

Securities held in custody for foreign official and international

accounts 3,238,354 - 3,133 - 126,609 3,248,603

Marketable U.S. Treasury securities1 2,922,809 - 3,460 - 99,613 2,934,262

Federal agency debt and mortgage-backed securities2 265,114 - 151 - 33,151 264,042

Other securities3 50,430 + 477 + 6,155 50,299

Securities lent to dealers 21,081 + 742 + 9,938 22,876

Overnight facility4 21,081 + 742 + 9,938 22,876

U.S. Treasury securities 21,074 + 751 + 10,100 22,869

Federal agency debt securities 7 - 9 - 162 7

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, June 15, 2016

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 68 53 0 0 0 ... 121

U.S. Treasury securities1

Holdings 13,567 24,151 140,387 1,197,994 449,658 636,276 2,462,032

Weekly changes + 13,567 - 13,563 + 4 + 22 + 24 + 82 + 135

Federal agency debt securities2

Holdings 0 2,604 14,395 5,750 0 2,347 25,096

Weekly changes 0 0 + 737 - 737 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 924 9,113 1,741,287 1,751,324

Weekly changes 0 0 0 - 3 - 42 + 8,289 + 8,243

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

Central bank liquidity swaps5 6 0 0 0 0 0 6

Reverse repurchase agreements4 271,369 0 ... ... ... ... 271,369

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 Jun 15, 2016

Mortgage-backed securities held outright1 1,751,324

Commitments to buy mortgage-backed securities2 30,412

Commitments to sell mortgage-backed securities2 29

Cash and cash equivalents3 38

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 Jun 15, 2016

Net portfolio holdings of Maiden Lane LLC1 1,713

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. Revalued quarterly. This table reflects valuations as of March 31, 2016. 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.
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

Jun 15, 2016 Jun 8, 2016 Jun 17, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,844 + 5 0

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,404,322 + 8,393 - 15,056

Securities held outright1 4,238,453 + 8,380 + 824

U.S. Treasury securities 2,462,032 + 135 + 1,175

Bills2 0 0 0

Notes and bonds, nominal2 2,339,286 0 - 7,356

Notes and bonds, inflation-indexed2 105,939 0 + 7,405

Inflation compensation3 16,807 + 136 + 1,126

Federal agency debt securities2 25,096 0 - 10,799

Mortgage-backed securities4 1,751,324 + 8,243 + 10,447

Unamortized premiums on securities held outright5 181,739 - 51 - 17,399

Unamortized discounts on securities held outright5 -15,991 + 37 + 1,591

Repurchase agreements6 0 0 0

Loans 121 + 27 - 72

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 17

Items in process of collection (0) 164 - 2 + 75

Bank premises 2,217 + 3 - 26

Central bank liquidity swaps8 6 + 6 - 108

Foreign currency denominated assets9 21,107 - 110 + 1,313

Other assets10 25,208 + 980 - 1,214

Total assets (0) 4,472,817 + 9,275 - 15,000

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

Jun 15, 2016 Jun 8, 2016 Jun 17, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,411,284 - 1,175 + 90,921

Reverse repurchase agreements11 271,369 - 13,666 + 9,920

Deposits (0) 2,743,055 + 25,098 - 97,201

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,404,901 - 43,917 - 170,605

U.S. Treasury, General Account 305,523 + 80,407 + 54,154

Foreign official 5,197 + 2 - 45

Other12 (0) 27,434 - 11,394 + 19,296

Deferred availability cash items (0) 402 + 110 + 36

Other liabilities and accrued dividends13 6,597 - 1,107 - 514

Total liabilities (0) 4,432,706 + 9,259 + 3,161

Capital accounts

Capital paid in 30,111 + 16 + 975

Surplus 10,000 0 - 19,136

Other capital accounts 0 0 0

Total capital 40,111 + 16 - 18,161

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 15, 2016

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 11,037 355 3,588 359 586 760 1,541 753 360 193 296 875 1,371

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

Coin 1,844 49 59 133 134 295 186 274 25 53 144 184 307

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,404,322 108,190 2,506,286 119,584 131,898 269,157 246,505 175,497 55,616 32,528 61,308 156,767 540,985

Securities held outright1 4,238,453 104,119 2,411,964 115,083 126,935 259,028 237,223 168,881 53,493 31,248 58,988 150,867 520,626

U.S. Treasury securities 2,462,032 60,480 1,401,061 66,850 73,734 150,464 137,798 98,099 31,073 18,151 34,265 87,635 302,421

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

Notes and bonds3 2,462,032 60,480 1,401,061 66,850 73,734 150,464 137,798 98,099 31,073 18,151 34,265 87,635 302,421

Federal agency debt securities2 25,096 616 14,281 681 752 1,534 1,405 1,000 317 185 349 893 3,083

Mortgage-backed securities4 1,751,324 43,022 996,621 47,552 52,449 107,030 98,020 69,781 22,103 12,912 24,374 62,338 215,122

Unamortized premiums on securities 

held outright5 181,739 4,464 103,422 4,935 5,443 11,107 10,172 7,241 2,294 1,340 2,529 6,469 22,324

Unamortized discounts on securities 

held outright5 -15,991 -393 -9,100 -434 -479 -977 -895 -637 -202 -118 -223 -569 -1,964

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

Loans 121 0 0 0 0 0 6 12 32 58 13 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,713 0 1,713 0 0 0 0 0 0 0 0 0 0

Items in process of collection 164 0 0 0 0 0 163 0 0 1 0 0 0

Bank premises 2,217 120 429 74 105 208 209 202 116 90 241 225 197

Central bank liquidity swaps8 6 0 2 0 0 1 0 0 0 0 0 0 1

Foreign currency denominated

assets9 21,107 933 6,966 1,161 1,608 4,707 1,172 566 217 90 211 268 3,211

Other assets10 25,208 653 13,812 687 755 1,699 1,411 1,009 525 206 396 951 3,104

Interdistrict settlement account 0 - 21,148 + 16,704 - 2,386 - 6,274 - 17,354 + 4,867 - 2,077 + 174 - 1,397 - 2,414 + 11,692 + 19,611

Total assets 4,472,817 89,348 2,551,376 119,823 129,050 259,886 256,708 176,649 57,183 31,855 60,335 171,244 569,361

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, June 15, 2016 (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 1,584,880 49,640 507,723 49,573 81,467 109,445 222,431 106,537 50,645 27,245 40,270 132,383 207,522

Less: Notes held by F.R. Banks 173,597 5,475 54,837 5,731 9,148 12,489 25,383 10,394 4,984 2,730 5,170 14,219 23,037

Federal Reserve notes, net 1,411,284 44,164 452,886 43,842 72,320 96,956 197,048 96,143 45,660 24,515 35,100 118,163 184,485

Reverse repurchase agreements11 271,369 6,666 154,427 7,368 8,127 16,584 15,188 10,813 3,425 2,001 3,777 9,659 33,333

Deposits 2,743,055 36,575 1,927,604 66,215 45,319 136,941 41,767 67,882 7,526 4,690 20,923 42,643 344,970

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 2,404,901 36,559 1,597,211 66,213 45,316 136,772 41,758 60,346 7,514 4,690 20,921 42,641 344,959

U.S. Treasury, General Account 305,523 0 305,523 0 0 0 0 0 0 0 0 0 0

Foreign official 5,197 2 5,171 2 3 9 2 1 0 0 0 1 6

Other12 27,434 14 19,700 0 0 160 7 7,535 12 0 1 1 5

Deferred availability cash items 402 0 0 0 0 0 66 0 0 336 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,672 35 993 40 47 81 100 70 17 12 17 63 196

Other liabilities and accrued

dividends 4,926 161 2,314 195 199 512 323 252 137 132 127 206 369

Total liabilities 4,432,706 87,601 2,538,224 117,660 126,012 251,075 254,491 175,161 56,765 31,684 59,943 170,735 563,354

Capital

Capital paid in 30,111 1,305 9,853 1,612 2,276 6,581 1,661 1,220 315 128 292 382 4,486

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

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

Total liabilities and capital 4,472,817 89,348 2,551,376 119,823 129,050 259,886 256,708 176,649 57,183 31,855 60,335 171,244 569,361

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, June 15, 2016 (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 and Federal

agency debt securities, amortization is on a straight-line basis. For 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).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 15, 2016

Federal Reserve notes outstanding 1,584,880

Less: Notes held by F.R. Banks not subject to collateralization 173,597

Federal Reserve notes to be collateralized 1,411,284

Collateral held against Federal Reserve notes 1,411,284

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,395,047

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,238,453

Less: Face value of securities under reverse repurchase agreements 253,225

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,985,227

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.