FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 12, 2017

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

Jan 11, 2017 Jan 4, 2017 Jan 13, 2016

Wednesday

Jan 11, 2017

Reserve Bank credit 4,413,643 - 747 - 37,287 4,414,192

Securities held outright1 4,221,135 - 44 - 22,623 4,221,125

U.S. Treasury securities 2,463,564 - 45 + 2,093 2,463,548

Bills2 0 0 0 0

Notes and bonds, nominal2 2,339,103 0 - 7,536 2,339,103

Notes and bonds, inflation-indexed2 106,697 0 + 8,163 106,697

Inflation compensation3 17,764 - 44 + 1,466 17,748

Federal agency debt securities2 16,180 0 - 16,764 16,180

Mortgage-backed securities4 1,741,392 + 1 - 7,951 1,741,398

Unamortized premiums on securities held outright5 172,608 - 326 - 16,422 172,520

Unamortized discounts on securities held outright5 -15,064 + 17 + 1,461 -15,054

Repurchase agreements6 0 0 0 0

Loans 5 - 49 - 17 5

Primary credit 3 - 32 - 1 4

Secondary credit 0 - 1 0 0

Seasonal credit 2 - 16 - 16 1

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,706 + 5 - 11 1,704

Float -368 + 478 - 233 -588

Central bank liquidity swaps8 2,731 - 2,727 + 2,613 2,626

Other Federal Reserve assets9 30,889 + 1,898 - 2,055 31,854

Foreign currency denominated assets10 19,568 + 44 - 243 19,505

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 48,575 + 14 + 993 48,575

Total factors supplying reserve funds 4,498,027 - 689 - 36,537 4,498,513

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

Jan 11, 2017 Jan 4, 2017 Jan 13, 2016

Wednesday

Jan 11, 2017

Currency in circulation11 1,505,444 - 3,928 + 88,325 1,504,110

Reverse repurchase agreements12 454,852 - 197,973 + 137,693 414,925

Foreign official and international accounts 255,916 - 681 + 36,579 256,105

Others 198,936 - 197,292 + 101,114 158,820

Treasury cash holdings 177 + 10 - 102 180

Deposits with F.R. Banks, other than reserve balances 422,217 - 21,792 + 91,077 421,144

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 372,492 - 15,497 + 69,509 369,010

Foreign official 5,205 + 40 - 39 5,166

Other13 44,520 - 6,335 + 21,607 46,968

Other liabilities and capital14 47,160 + 212 + 192 47,227

Total factors, other than reserve balances,

absorbing reserve funds 2,429,849 - 223,472 + 317,184 2,387,586

Reserve balances with Federal Reserve Banks 2,068,178 + 222,782 - 353,721 2,110,927

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

Jan 11, 2017 Jan 4, 2017 Jan 13, 2016

Wednesday

Jan 11, 2017

Securities held in custody for foreign official and international

accounts 3,181,751 - 213 - 95,308 3,176,911

Marketable U.S. Treasury securities1 2,861,677 + 520 - 100,273 2,857,046

Federal agency debt and mortgage-backed securities2 260,720 - 681 - 7,841 260,784

Other securities3 59,354 - 52 + 12,807 59,081

Securities lent to dealers 17,079 - 6,407 + 4,110 17,983

Overnight facility4 17,079 - 6,407 + 4,110 17,983

U.S. Treasury securities 17,031 - 6,411 + 4,179 17,938

Federal agency debt securities 48 + 3 - 68 45

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, January 11, 2017

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 4 1 0 0 0 ... 5

U.S. Treasury securities1

Holdings 3,103 41,249 150,765 1,232,315 402,988 633,127 2,463,548

Weekly changes - 2 0 - 1 - 7 - 8 - 27 - 43

Federal agency debt securities2

Holdings 0 2,851 8,938 2,044 0 2,347 16,180

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 84 10,895 1,730,418 1,741,398

Weekly changes 0 0 0 0 0 + 7 + 7

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

Central bank liquidity swaps5 2,626 0 0 0 0 0 2,626

Reverse repurchase agreements4 414,925 0 ... ... ... ... 414,925

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 Jan 11, 2017

Mortgage-backed securities held outright1 1,741,398

Commitments to buy mortgage-backed securities2 51,573

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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 Jan 11, 2017

Net portfolio holdings of Maiden Lane LLC1 1,704

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 September 30, 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

Jan 11, 2017 Jan 4, 2017 Jan 13, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,890 + 15 - 32

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,378,596 - 312 - 49,205

Securities held outright1 4,221,125 - 37 - 33,871

U.S. Treasury securities 2,463,548 - 43 + 2,098

Bills2 0 0 0

Notes and bonds, nominal2 2,339,103 0 - 7,536

Notes and bonds, inflation-indexed2 106,697 0 + 8,163

Inflation compensation3 17,748 - 43 + 1,470

Federal agency debt securities2 16,180 0 - 16,764

Mortgage-backed securities4 1,741,398 + 7 - 19,204

Unamortized premiums on securities held outright5 172,520 - 269 - 16,770

Unamortized discounts on securities held outright5 -15,054 + 29 + 1,460

Repurchase agreements6 0 0 0

Loans 5 - 35 - 24

Net portfolio holdings of Maiden Lane LLC7 1,704 - 3 - 14

Items in process of collection (0) 98 - 70 - 49

Bank premises 2,203 + 1 - 33

Central bank liquidity swaps8 2,626 - 2,937 + 2,508

Foreign currency denominated assets9 19,505 + 104 - 280

Other assets10 29,651 + 2,610 - 2,080

Total assets (0) 4,452,509 - 592 - 49,186

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

Jan 11, 2017 Jan 4, 2017 Jan 13, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,457,601 - 4,962 + 87,377

Reverse repurchase agreements11 414,925 - 108,288 + 113,822

Deposits (0) 2,532,071 + 111,747 - 250,492

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,110,927 + 112,761 - 339,900

U.S. Treasury, General Account 369,010 - 2,823 + 66,770

Foreign official 5,166 + 2 - 65

Other12 (0) 46,968 + 1,807 + 22,702

Deferred availability cash items (0) 686 - 280 + 254

Other liabilities and accrued dividends13 6,780 + 1,186 - 1,089

Total liabilities (0) 4,412,063 - 596 - 50,128

Capital accounts

Capital paid in 30,447 + 5 + 943

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 40,447 + 5 + 943

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, January 11, 2017

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 1,890 49 71 161 135 309 187 284 30 53 114 193 306

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,378,596 107,561 2,491,713 118,888 131,131 267,592 245,066 174,465 55,261 32,285 60,939 155,855 537,839

Securities held outright1 4,221,125 103,693 2,402,103 114,613 126,416 257,969 236,253 168,190 53,274 31,121 58,747 150,250 518,497

U.S. Treasury securities 2,463,548 60,518 1,401,924 66,891 73,779 150,557 137,883 98,160 31,092 18,163 34,286 87,689 302,607

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

Notes and bonds3 2,463,548 60,518 1,401,924 66,891 73,779 150,557 137,883 98,160 31,092 18,163 34,286 87,689 302,607

Federal agency debt securities2 16,180 397 9,208 439 485 989 906 645 204 119 225 576 1,987

Mortgage-backed securities4 1,741,398 42,778 990,972 47,283 52,152 106,423 97,465 69,386 21,978 12,839 24,236 61,985 213,903

Unamortized premiums on securities 

held outright5 172,520 4,238 98,175 4,684 5,167 10,543 9,656 6,874 2,177 1,272 2,401 6,141 21,191

Unamortized discounts on securities 

held outright5 -15,054 -370 -8,567 -409 -451 -920 -843 -600 -190 -111 -210 -536 -1,849

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

Loans 5 0 1 0 0 0 0 0 0 3 1 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,704 0 1,704 0 0 0 0 0 0 0 0 0 0

Items in process of collection 98 0 0 0 0 0 97 0 0 1 0 0 0

Bank premises 2,203 118 437 72 107 203 206 200 113 89 239 223 196

Central bank liquidity swaps8 2,626 116 866 144 200 586 146 70 27 11 26 33 400

Foreign currency denominated

assets9 19,505 862 6,437 1,073 1,485 4,350 1,083 523 200 83 195 247 2,967

Other assets10 29,651 768 16,408 810 893 1,987 1,690 1,191 452 242 465 1,098 3,647

Interdistrict settlement account 0 - 23,971 + 3,101 - 8,513 - 9,070 - 13,787 + 12,988 + 14,713 + 3,574 + 2,680 + 2,917 + 18,371 - 3,004

Total assets 4,452,509 86,054 2,526,143 113,205 125,706 262,411 263,658 192,622 60,167 35,727 65,342 177,177 544,296

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, January 11, 2017 (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 1,638,870 53,307 534,630 51,858 80,650 118,022 223,489 108,917 49,449 28,309 45,148 135,894 209,195

Less: Notes held by F.R. Banks 181,269 5,916 48,888 6,461 9,277 13,589 26,086 11,854 5,362 3,095 6,009 16,928 27,805

Federal Reserve notes, net 1,457,601 47,392 485,742 45,397 71,374 104,433 197,402 97,064 44,088 25,214 39,139 118,966 181,391

Reverse repurchase agreements11 414,925 10,193 236,120 11,266 12,426 25,358 23,223 16,533 5,237 3,059 5,775 14,769 50,967

Deposits 2,532,071 26,505 1,787,798 54,122 38,418 123,217 40,094 77,145 10,250 6,627 19,893 42,643 305,359

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 2,110,927 26,498 1,382,714 54,120 38,415 123,085 40,085 61,271 10,228 6,627 19,891 42,641 305,351

U.S. Treasury, General Account 369,010 0 369,010 0 0 0 0 0 0 0 0 0 0

Foreign official 5,166 2 5,139 2 3 9 2 1 0 0 0 1 6

Other12 46,968 5 30,935 0 0 123 7 15,873 21 0 1 1 2

Deferred availability cash items 686 0 0 0 0 0 177 0 0 509 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,961 52 1,083 56 65 131 116 84 24 15 26 71 239

Other liabilities and accrued

dividends 4,819 150 2,353 177 182 457 316 255 134 132 114 212 336

Total liabilities 4,412,063 84,291 2,513,096 111,018 122,464 253,596 261,329 191,080 59,732 35,556 64,947 176,661 538,292

Capital

Capital paid in 30,447 1,320 9,748 1,637 2,480 6,585 1,774 1,274 333 129 296 389 4,483

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 4,452,509 86,054 2,526,143 113,205 125,706 262,411 263,658 192,622 60,167 35,727 65,342 177,177 544,296

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, January 11, 2017 (continued)

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

2. Face value of the securities.

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

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury 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 Jan 11, 2017

Federal Reserve notes outstanding 1,638,870

Less: Notes held by F.R. Banks not subject to collateralization 181,269

Federal Reserve notes to be collateralized 1,457,601

Collateral held against Federal Reserve notes 1,457,601

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,441,364

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,221,125

Less: Face value of securities under reverse repurchase agreements 392,561

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,828,564

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.