FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 15, 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

Mar 14, 2018 Mar 7, 2018 Mar 15, 2017

Wednesday

Mar 14, 2018

Reserve Bank credit 4,359,421 + 5,094 - 69,057 4,366,514

Securities held outright1 4,191,341 + 2,616 - 53,944 4,197,541

U.S. Treasury securities 2,424,504 + 161 - 39,248 2,424,562

Bills2 0 0 0 0

Notes and bonds, nominal2 2,293,885 0 - 46,526 2,293,885

Notes and bonds, inflation-indexed2 111,220 0 + 5,319 111,220

Inflation compensation3 19,399 + 161 + 1,959 19,457

Federal agency debt securities2 4,391 0 - 8,938 4,391

Mortgage-backed securities4 1,762,446 + 2,455 - 5,758 1,768,588

Unamortized premiums on securities held outright5 155,680 - 198 - 14,458 155,674

Unamortized discounts on securities held outright5 -14,085 + 26 + 926 -14,080

Repurchase agreements6 0 0 0 0

Loans 10 - 3 + 3 15

Primary credit 2 - 1 - 1 4

Secondary credit 0 0 0 0

Seasonal credit 9 - 1 + 6 11

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,708 0 + 3 1,708

Float -189 + 96 + 227 -280

Central bank liquidity swaps8 64 - 1 - 853 64

Other Federal Reserve assets9 24,892 + 2,559 - 962 25,871

Foreign currency denominated assets10 22,222 - 47 + 2,458 22,276

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,521 + 14 + 799 49,521

Total factors supplying reserve funds 4,447,406 + 5,061 - 65,799 4,454,552

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

Mar 14, 2018 Mar 7, 2018 Mar 15, 2017

Wednesday

Mar 14, 2018

Currency in circulation11 1,633,326 + 3,802 + 104,212 1,634,992

Reverse repurchase agreements12 226,327 - 11,112 - 243,788 237,279

Foreign official and international accounts 222,671 - 198 - 22,124 232,309

Others 3,656 - 10,914 - 221,664 4,970

Treasury cash holdings 316 + 10 + 63 316

Deposits with F.R. Banks, other than reserve balances 336,362 + 58,577 + 231,288 346,122

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 249,929 + 54,858 + 211,350 236,160

Foreign official 5,254 - 1 + 87 5,254

Other13 81,178 + 3,719 + 19,850 104,707

Other liabilities and capital14 46,246 + 970 - 2,187 45,701

Total factors, other than reserve balances,

absorbing reserve funds 2,242,576 + 52,247 + 89,587 2,264,410

Reserve balances with Federal Reserve Banks 2,204,829 - 47,187 - 155,387 2,190,143

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

Mar 14, 2018 Mar 7, 2018 Mar 15, 2017

Wednesday

Mar 14, 2018

Securities held in custody for foreign official and international

accounts 3,452,206 + 11,827 + 254,392 3,449,388

Marketable U.S. Treasury securities1 3,109,062 + 13,425 + 239,650 3,108,760

Federal agency debt and mortgage-backed securities2 262,492 - 1,703 - 2,817 260,038

Other securities3 80,652 + 104 + 17,559 80,590

Securities lent to dealers 24,435 - 2,173 + 2,143 23,742

Overnight facility4 24,435 - 2,173 + 2,143 23,742

U.S. Treasury securities 24,435 - 2,173 + 2,229 23,742

Federal agency debt securities 0 0 - 86 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, March 14, 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 4 11 0 0 0 ... 15

U.S. Treasury securities1

Holdings 0 120,481 298,430 1,081,470 297,929 626,253 2,424,562

Weekly changes 0 0 + 4 + 22 + 42 + 93 + 160

Federal agency debt securities2

Holdings 0 0 1,982 62 0 2,347 4,391

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 1 173 36,664 1,731,751 1,768,588

Weekly changes 0 0 0 0 0 + 8,597 + 8,597

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

Central bank liquidity swaps5 64 0 0 0 0 0 64

Reverse repurchase agreements4 237,279 0 ... ... ... ... 237,279

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 Mar 14, 2018

Mortgage-backed securities held outright1 1,768,588

Commitments to buy mortgage-backed securities2 11,667

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 Mar 14, 2018

Net portfolio holdings of Maiden Lane LLC1 1,708

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

Mar 14, 2018 Mar 7, 2018 Mar 15, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,877 - 23 - 52

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,339,150 + 8,657 - 64,312

Securities held outright1 4,197,541 + 8,757 - 50,784

U.S. Treasury securities 2,424,562 + 160 - 39,250

Bills2 0 0 0

Notes and bonds, nominal2 2,293,885 0 - 46,526

Notes and bonds, inflation-indexed2 111,220 0 + 5,319

Inflation compensation3 19,457 + 160 + 1,958

Federal agency debt securities2 4,391 0 - 8,938

Mortgage-backed securities4 1,768,588 + 8,597 - 2,596

Unamortized premiums on securities held outright5 155,674 - 125 - 14,452

Unamortized discounts on securities held outright5 -14,080 + 20 + 924

Repurchase agreements6 0 0 0

Loans 15 + 4 0

Net portfolio holdings of Maiden Lane LLC7 1,708 0 + 1

Items in process of collection (0) 74 - 12 + 12

Bank premises 2,196 + 2 - 1

Central bank liquidity swaps8 64 - 1 - 853

Foreign currency denominated assets9 22,276 - 58 + 2,520

Other assets10 23,675 + 2,595 + 363

Total assets (0) 4,407,258 + 11,161 - 62,319

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

Mar 14, 2018 Mar 7, 2018 Mar 15, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,587,660 + 1,871 + 103,165

Reverse repurchase agreements11 237,279 + 3,813 - 239,733

Deposits (0) 2,536,265 + 4,953 + 75,918

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,190,143 - 71,210 - 177,977

U.S. Treasury, General Account 236,160 + 48,645 + 212,744

Foreign official 5,254 0 + 85

Other12 (0) 104,707 + 27,517 + 41,065

Deferred availability cash items (0) 354 - 217 - 84

Other liabilities and accrued dividends13 6,541 + 759 - 198

Total liabilities (0) 4,368,098 + 11,177 - 60,932

Capital accounts

Capital paid in 31,660 - 17 + 1,112

Surplus 7,500 0 - 2,500

Other capital accounts 0 0 0

Total capital 39,160 - 17 - 1,388

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, March 14, 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 11,037 349 3,592 348 553 776 1,520 737 341 191 292 916 1,422

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

Coin 1,877 55 46 191 129 270 193 303 33 53 113 197 295

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,339,150 84,542 2,443,332 112,035 125,831 254,235 255,417 182,510 57,861 33,831 61,539 173,709 554,308

Securities held outright1 4,197,541 81,784 2,363,601 108,379 121,725 245,936 247,083 176,543 55,973 32,726 59,531 168,040 536,220

U.S. Treasury securities 2,424,562 47,239 1,365,251 62,601 70,310 142,056 142,719 101,974 32,331 18,903 34,386 97,062 309,729

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

Notes and bonds3 2,424,562 47,239 1,365,251 62,601 70,310 142,056 142,719 101,974 32,331 18,903 34,386 97,062 309,729

Federal agency debt securities2 4,391 86 2,473 113 127 257 258 185 59 34 62 176 561

Mortgage-backed securities4 1,768,588 34,459 995,877 45,664 51,287 103,623 104,106 74,385 23,584 13,789 25,083 70,802 225,930

Unamortized premiums on securities 

held outright5 155,674 3,033 87,659 4,019 4,514 9,121 9,164 6,547 2,076 1,214 2,208 6,232 19,887

Unamortized discounts on securities 

held outright5 -14,080 -274 -7,929 -364 -408 -825 -829 -592 -188 -110 -200 -564 -1,799

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

Loans 15 0 0 0 0 3 0 11 0 1 0 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,708 0 1,708 0 0 0 0 0 0 0 0 0 0

Items in process of collection 74 0 0 0 0 0 73 0 0 0 0 0 0

Bank premises 2,196 112 444 74 121 198 203 202 109 87 235 220 191

Central bank liquidity swaps8 64 3 20 3 5 14 4 3 1 0 1 1 9

Foreign currency denominated

assets9 22,276 966 7,135 1,198 1,814 4,814 1,299 932 244 94 216 285 3,280

Other assets10 23,675 493 12,727 604 689 1,607 1,413 992 594 195 400 987 2,975

Interdistrict settlement account 0 - 2,865 - 62,155 + 1,107 - 1,307 + 31,284 + 9,579 + 43,807 + 184 + 2,342 + 7,049 + 3,075 - 32,100

Total assets 4,407,258 83,851 2,408,667 115,770 128,072 293,609 270,356 229,910 59,516 36,884 69,998 179,671 530,954

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, March 14, 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 1,769,660 58,395 602,260 53,993 86,156 121,559 242,332 114,786 52,171 30,812 47,486 139,753 219,956

Less: Notes held by F.R. Banks 182,000 6,596 48,280 6,866 9,754 13,901 26,959 12,314 5,269 3,634 6,023 17,184 25,217

Federal Reserve notes, net 1,587,660 51,799 553,980 47,127 76,401 107,657 215,373 102,472 46,902 27,178 41,462 122,569 194,739

Reverse repurchase agreements11 237,279 4,623 133,610 6,126 6,881 13,902 13,967 9,980 3,164 1,850 3,365 9,499 30,311

Deposits 2,536,265 25,563 1,705,778 59,986 41,396 162,967 38,265 115,436 8,700 7,238 24,612 46,814 299,509

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 2,190,143 25,532 1,417,228 59,984 41,329 162,784 38,228 58,235 8,695 7,238 24,605 46,781 299,502

U.S. Treasury, General Account 236,160 0 236,160 0 0 0 0 0 0 0 0 0 0

Foreign official 5,254 2 5,227 2 3 9 2 2 0 0 0 1 6

Other12 104,707 29 47,163 0 63 174 34 57,200 5 0 7 32 1

Deferred availability cash items 354 0 0 0 0 0 70 0 0 283 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,606 32 887 39 49 76 120 59 26 14 23 78 204

Other liabilities and accrued

dividends 4,935 172 2,100 204 205 530 319 312 137 142 149 225 442

Total liabilities 4,368,098 82,189 2,396,354 113,482 124,931 285,132 268,115 228,259 58,928 36,705 69,612 179,185 525,205

Capital

Capital paid in 31,660 1,343 9,948 1,861 2,536 6,857 1,808 1,333 480 145 312 393 4,645

Surplus 7,500 319 2,364 426 605 1,620 433 318 108 34 74 93 1,104

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

Total liabilities and capital 4,407,258 83,851 2,408,667 115,770 128,072 293,609 270,356 229,910 59,516 36,884 69,998 179,671 530,954

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, March 14, 2018 (continued)

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

2. Face value of the securities.

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

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

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

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

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

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

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $7.5 billion surplus.

Note on consolidation:

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

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

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

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

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

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

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Mar 14, 2018

Federal Reserve notes outstanding 1,769,660

Less: Notes held by F.R. Banks not subject to collateralization 182,000

Federal Reserve notes to be collateralized 1,587,660

Collateral held against Federal Reserve notes 1,587,660

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,571,423

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,197,541

Less: Face value of securities under reverse repurchase agreements 237,056

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,960,485

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.