FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 2, 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 1, 2016 May 25, 2016 Jun 3, 2015

Wednesday

Jun 1, 2016

Reserve Bank credit 4,421,884 - 9,402 - 5,060 4,422,030

Securities held outright1 4,229,891 - 8,125 + 10,838 4,229,933

U.S. Treasury securities 2,461,719 - 46 + 996 2,461,761

Bills2 0 0 0 0

Notes and bonds, nominal2 2,341,290 - 973 - 5,353 2,339,286

Notes and bonds, inflation-indexed2 103,935 + 801 + 5,401 105,939

Inflation compensation3 16,494 + 126 + 948 16,536

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

Mortgage-backed securities4 1,743,075 - 8,079 + 20,640 1,743,076

Unamortized premiums on securities held outright5 182,157 - 571 - 17,255 182,112

Unamortized discounts on securities held outright5 -16,053 + 58 + 1,608 -16,059

Repurchase agreements6 0 - 87 0 0

Loans 85 + 1 - 22 89

Primary credit 4 - 3 - 9 1

Secondary credit 0 0 0 0

Seasonal credit 82 + 5 - 12 88

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 14 1,713

Float -794 - 649 - 469 -328

Central bank liquidity swaps8 801 - 205 + 801 801

Other Federal Reserve assets9 24,084 + 176 - 575 23,770

Foreign currency denominated assets10 20,686 - 25 + 1,101 20,730

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,833 + 14 + 950 47,833

Total factors supplying reserve funds 4,506,643 - 9,414 - 3,010 4,506,834

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 1, 2016 May 25, 2016 Jun 3, 2015

Wednesday

Jun 1, 2016

Currency in circulation11 1,457,609 + 5,485 + 89,300 1,459,455

Reverse repurchase agreements12 300,865 - 8,987 + 15,468 302,674

Foreign official and international accounts 245,955 - 197 + 93,633 241,488

Others 54,910 - 8,790 - 78,166 61,186

Treasury cash holdings 112 + 8 - 55 111

Deposits with F.R. Banks, other than reserve balances 306,905 - 67,142 - 37,932 296,861

Term deposits held by depository institutions 0 - 66,820 - 145,702 0

U.S. Treasury, General Account 267,948 - 671 + 82,154 259,693

Foreign official 5,192 + 13 - 40 5,179

Other13 33,766 + 337 + 25,657 31,989

Other liabilities and capital14 47,199 - 194 - 18,979 46,763

Total factors, other than reserve balances,

absorbing reserve funds 2,112,690 - 70,830 + 47,802 2,105,865

Reserve balances with Federal Reserve Banks 2,393,953 + 61,416 - 50,812 2,400,969

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 1, 2016 May 25, 2016 Jun 3, 2015

Wednesday

Jun 1, 2016

Securities held in custody for foreign official and international

accounts 3,229,925 + 11,799 - 123,685 3,249,818

Marketable U.S. Treasury securities1 2,915,265 + 11,556 - 106,878 2,935,080

Federal agency debt and mortgage-backed securities2 265,117 - 587 - 22,358 265,182

Other securities3 49,544 + 832 + 5,552 49,556

Securities lent to dealers 22,020 + 616 + 11,086 23,822

Overnight facility4 22,020 + 616 + 11,086 23,822

U.S. Treasury securities 22,004 + 615 + 11,345 23,802

Federal agency debt securities 16 + 1 - 258 20

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 1, 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 27 62 0 0 0 ... 89

U.S. Treasury securities1

Holdings 0 30,734 147,354 1,197,951 449,610 636,112 2,461,761

Weekly changes - 25,248 + 3 + 11,913 + 5,005 + 8,378 + 73 + 124

Federal agency debt securities2

Holdings 0 2,604 13,658 6,487 0 2,347 25,096

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 886 9,189 1,733,000 1,743,076

Weekly changes 0 0 0 + 1 0 0 + 2

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

Central bank liquidity swaps5 801 0 0 0 0 0 801

Reverse repurchase agreements4 302,674 0 ... ... ... ... 302,674

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 1, 2016

Mortgage-backed securities held outright1 1,743,076

Commitments to buy mortgage-backed securities2 35,455

Commitments to sell mortgage-backed securities2 129

Cash and cash equivalents3 11

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

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

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

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Jun 1, 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 1, 2016 May 25, 2016 Jun 3, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,828 - 9 + 33

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,396,075 - 770 - 4,755

Securities held outright1 4,229,933 + 126 + 10,853

U.S. Treasury securities 2,461,761 + 124 + 1,012

Bills2 0 0 0

Notes and bonds, nominal2 2,339,286 - 2,806 - 7,357

Notes and bonds, inflation-indexed2 105,939 + 2,805 + 7,405

Inflation compensation3 16,536 + 125 + 964

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

Mortgage-backed securities4 1,743,076 + 2 + 20,640

Unamortized premiums on securities held outright5 182,112 - 285 - 17,164

Unamortized discounts on securities held outright5 -16,059 + 30 + 1,591

Repurchase agreements6 0 - 610 0

Loans 89 - 31 - 35

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 13

Items in process of collection (0) 240 + 96 + 160

Bank premises 2,214 - 6 - 23

Central bank liquidity swaps8 801 - 205 + 801

Foreign currency denominated assets9 20,730 + 63 + 880

Other assets10 21,556 + 1,114 - 1,075

Total assets (0) 4,461,393 + 282 - 3,967

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 1, 2016 May 25, 2016 Jun 3, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,413,557 + 5,069 + 89,774

Reverse repurchase agreements11 302,674 - 9,049 + 60,088

Deposits (0) 2,697,830 + 3,393 - 134,814

Term deposits held by depository institutions 0 - 66,820 - 145,702

Other deposits held by depository institutions 2,400,969 + 60,982 - 89,075

U.S. Treasury, General Account 259,693 + 2,601 + 75,594

Foreign official 5,179 0 - 52

Other12 (0) 31,989 + 6,630 + 24,420

Deferred availability cash items (0) 568 + 293 + 197

Other liabilities and accrued dividends13 6,673 + 578 - 1,053

Total liabilities (0) 4,421,303 + 285 + 14,193

Capital accounts

Capital paid in 30,090 - 4 + 965

Surplus 10,000 0 - 19,125

Other capital accounts 0 0 0

Total capital 40,090 - 4 - 18,160

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 1, 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 1,828 51 60 131 134 297 176 269 23 52 145 184 305

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,396,075 107,988 2,501,611 119,361 131,652 268,655 246,045 175,168 55,513 32,438 61,193 156,474 539,977

Securities held outright1 4,229,933 103,909 2,407,116 114,852 126,679 258,507 236,746 168,541 53,385 31,185 58,870 150,563 519,579

U.S. Treasury securities 2,461,761 60,474 1,400,907 66,842 73,726 150,447 137,783 98,089 31,069 18,149 34,261 87,626 302,388

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

Notes and bonds3 2,461,761 60,474 1,400,907 66,842 73,726 150,447 137,783 98,089 31,069 18,149 34,261 87,626 302,388

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 1,743,076 42,819 991,927 47,328 52,202 106,526 97,559 69,453 21,999 12,851 24,259 62,044 214,109

Unamortized premiums on securities 

held outright5 182,112 4,474 103,634 4,945 5,454 11,130 10,193 7,256 2,298 1,343 2,535 6,482 22,370

Unamortized discounts on securities 

held outright5 -16,059 -395 -9,139 -436 -481 -981 -899 -640 -203 -118 -224 -572 -1,973

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

Loans 89 0 0 0 0 0 5 11 32 28 13 0 1

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 240 0 0 0 0 0 239 0 0 1 0 0 0

Bank premises 2,214 120 429 74 105 208 208 202 116 90 241 225 197

Central bank liquidity swaps8 801 35 264 44 61 179 44 21 8 3 8 10 122

Foreign currency denominated

assets9 20,730 916 6,841 1,140 1,579 4,623 1,151 556 213 89 207 263 3,153

Other assets10 21,556 561 11,747 586 647 1,477 1,223 872 487 185 343 770 2,658

Interdistrict settlement account 0 - 26,768 + 682 - 907 - 6,052 - 12,155 + 10,104 + 2,069 + 907 - 468 - 1,451 + 13,369 + 20,669

Total assets 4,461,393 83,456 2,528,752 120,998 128,950 264,455 261,384 180,334 57,777 32,672 61,136 172,452 569,027

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 1, 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 1,580,874 49,387 504,647 49,630 81,705 109,125 222,666 106,631 50,834 27,298 40,008 132,267 206,676

Less: Notes held by F.R. Banks 167,316 5,017 55,475 5,797 8,718 11,392 24,004 9,622 4,766 2,646 4,742 13,341 21,797

Federal Reserve notes, net 1,413,557 44,371 449,172 43,833 72,987 97,733 198,662 97,009 46,069 24,652 35,266 118,925 184,879

Reverse repurchase agreements11 302,674 7,435 172,242 8,218 9,065 18,498 16,940 12,060 3,820 2,231 4,212 10,774 37,179

Deposits 2,697,830 29,704 1,890,932 66,545 43,599 138,785 42,996 69,453 7,313 5,039 21,118 41,974 340,372

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 2,400,969 29,694 1,601,439 66,543 43,596 138,590 42,987 62,328 7,303 5,039 21,117 41,973 340,361

U.S. Treasury, General Account 259,693 0 259,693 0 0 0 0 0 0 0 0 0 0

Foreign official 5,179 2 5,152 2 3 9 2 1 0 0 0 1 6

Other12 31,989 8 24,648 0 0 185 7 7,124 10 0 1 0 5

Deferred availability cash items 568 0 0 0 0 0 130 0 0 437 0 0 0

Earnings remittances due to the U.S.

Treasury13 2,202 65 1,182 62 73 176 137 89 31 14 33 77 265

Other liabilities and accrued

dividends 4,471 134 2,088 179 188 460 300 235 127 129 115 192 325

Total liabilities 4,421,303 81,709 2,515,616 118,836 125,912 255,651 259,166 178,846 57,359 32,502 60,744 171,942 563,020

Capital

Capital paid in 30,090 1,305 9,837 1,612 2,276 6,573 1,663 1,220 315 128 292 383 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 4,461,393 83,456 2,528,752 120,998 128,950 264,455 261,384 180,334 57,777 32,672 61,136 172,452 569,027

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 1, 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 1, 2016

Federal Reserve notes outstanding 1,580,874

Less: Notes held by F.R. Banks not subject to collateralization 167,316

Federal Reserve notes to be collateralized 1,413,557

Collateral held against Federal Reserve notes 1,413,557

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,397,320

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,229,933

Less: Face value of securities under reverse repurchase agreements 283,681

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,946,252

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.