FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 16, 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

Mar 15, 2017 Mar 8, 2017 Mar 16, 2016

Wednesday

Mar 15, 2017

Reserve Bank credit 4,428,478 + 7,833 - 17,762 4,431,219

Securities held outright1 4,245,285 + 5,176 - 2,064 4,248,325

U.S. Treasury securities 2,463,752 + 162 + 2,529 2,463,812

Bills2 0 0 0 0

Notes and bonds, nominal2 2,340,411 0 - 4,107 2,340,411

Notes and bonds, inflation-indexed2 105,901 0 + 5,021 105,901

Inflation compensation3 17,440 + 162 + 1,615 17,499

Federal agency debt securities2 13,329 0 - 17,400 13,329

Mortgage-backed securities4 1,768,204 + 5,015 + 12,808 1,771,184

Unamortized premiums on securities held outright5 170,138 - 119 - 16,207 170,126

Unamortized discounts on securities held outright5 -15,011 + 24 + 1,373 -15,004

Repurchase agreements6 0 0 0 0

Loans 7 - 1 - 8 15

Primary credit 3 - 3 - 1 10

Secondary credit 0 0 0 0

Seasonal credit 3 + 1 - 8 5

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,705 0 - 17 1,707

Float -416 - 84 - 39 -376

Central bank liquidity swaps8 917 + 426 + 841 917

Other Federal Reserve assets9 25,854 + 2,411 - 1,640 25,509

Foreign currency denominated assets10 19,764 + 59 - 648 19,756

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 48,698 + 14 + 1,014 48,698

Total factors supplying reserve funds 4,513,181 + 7,906 - 17,397 4,515,913

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 15, 2017 Mar 8, 2017 Mar 16, 2016

Wednesday

Mar 15, 2017

Currency in circulation11 1,529,090 + 4,079 + 91,378 1,531,006

Reverse repurchase agreements12 470,115 + 29,423 + 189,776 477,012

Foreign official and international accounts 244,795 + 397 + 4,716 250,502

Others 225,320 + 29,026 + 185,059 226,510

Treasury cash holdings 253 - 6 + 15 262

Deposits with F.R. Banks, other than reserve balances 105,074 - 42,564 - 159,988 92,227

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 38,579 - 49,641 - 197,055 23,416

Foreign official 5,167 + 2 - 5 5,169

Other13 61,328 + 7,075 + 37,071 63,642

Other liabilities and capital14 48,433 + 665 + 719 47,286

Total factors, other than reserve balances,

absorbing reserve funds 2,152,965 - 8,404 + 121,899 2,147,793

Reserve balances with Federal Reserve Banks 2,360,216 + 16,310 - 139,296 2,368,120

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

Mar 15, 2017 Mar 8, 2017 Mar 16, 2016

Wednesday

Mar 15, 2017

Securities held in custody for foreign official and international

accounts 3,197,814 + 15,084 - 54,052 3,203,834

Marketable U.S. Treasury securities1 2,869,412 + 16,383 - 67,144 2,878,940

Federal agency debt and mortgage-backed securities2 265,309 - 1,196 - 969 263,460

Other securities3 63,093 - 102 + 14,061 61,434

Securities lent to dealers 22,292 - 832 + 2,463 23,823

Overnight facility4 22,292 - 832 + 2,463 23,823

U.S. Treasury securities 22,206 - 858 + 2,435 23,741

Federal agency debt securities 86 + 26 + 28 82

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 15, 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 10 5 0 0 0 ... 15

U.S. Treasury securities1

Holdings 0 60,469 183,357 1,216,841 376,170 626,975 2,463,812

Weekly changes 0 + 1 + 6 + 26 + 33 + 97 + 162

Federal agency debt securities2

Holdings 0 5,232 3,706 2,044 0 2,347 13,329

Weekly changes 0 + 737 - 737 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 172 11,415 1,759,597 1,771,184

Weekly changes 0 0 0 - 2 - 31 + 8,026 + 7,993

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

Central bank liquidity swaps5 917 0 0 0 0 0 917

Reverse repurchase agreements4 477,012 0 ... ... ... ... 477,012

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 15, 2017

Mortgage-backed securities held outright1 1,771,184

Commitments to buy mortgage-backed securities2 24,459

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 52

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 15, 2017

Net portfolio holdings of Maiden Lane LLC1 1,707

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 December 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

Mar 15, 2017 Mar 8, 2017 Mar 16, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,929 - 5 + 12

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,403,462 + 8,131 - 15,157

Securities held outright1 4,248,325 + 8,156 - 254

U.S. Treasury securities 2,463,812 + 162 + 2,573

Bills2 0 0 0

Notes and bonds, nominal2 2,340,411 0 - 4,107

Notes and bonds, inflation-indexed2 105,901 0 + 5,021

Inflation compensation3 17,499 + 162 + 1,658

Federal agency debt securities2 13,329 0 - 15,928

Mortgage-backed securities4 1,771,184 + 7,993 + 13,102

Unamortized premiums on securities held outright5 170,126 - 45 - 16,245

Unamortized discounts on securities held outright5 -15,004 + 21 + 1,363

Repurchase agreements6 0 0 0

Loans 15 0 - 22

Net portfolio holdings of Maiden Lane LLC7 1,707 + 3 - 15

Items in process of collection (0) 62 - 4 - 88

Bank premises 2,197 0 - 30

Central bank liquidity swaps8 917 + 426 + 841

Foreign currency denominated assets9 19,756 + 86 - 567

Other assets10 23,312 + 1,103 - 1,752

Total assets (0) 4,469,577 + 9,737 - 16,756

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 15, 2017 Mar 8, 2017 Mar 16, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,484,495 + 2,003 + 90,540

Reverse repurchase agreements11 477,012 + 23,761 + 187,124

Deposits (0) 2,460,347 - 16,110 - 295,646

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,368,120 + 16,989 - 87,402

U.S. Treasury, General Account 23,416 - 42,747 - 255,665

Foreign official 5,169 + 4 - 6

Other12 (0) 63,642 + 9,644 + 47,427

Deferred availability cash items (0) 438 - 193 + 93

Other liabilities and accrued dividends13 6,739 + 275 + 133

Total liabilities (0) 4,429,030 + 9,734 - 17,757

Capital accounts

Capital paid in 30,548 + 4 + 1,002

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 40,548 + 4 + 1,002

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, March 15, 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 1,929 55 71 168 135 306 188 288 25 53 125 197 318

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,403,462 108,172 2,505,857 119,563 131,876 269,111 246,457 175,459 55,575 32,465 61,285 156,740 540,902

Securities held outright1 4,248,325 104,361 2,417,582 115,351 127,230 259,631 237,775 169,274 53,617 31,321 59,126 151,218 521,838

U.S. Treasury securities 2,463,812 60,524 1,402,074 66,898 73,787 150,573 137,898 98,170 31,095 18,165 34,290 87,699 302,640

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

Notes and bonds3 2,463,812 60,524 1,402,074 66,898 73,787 150,573 137,898 98,170 31,095 18,165 34,290 87,699 302,640

Federal agency debt securities2 13,329 327 7,585 362 399 815 746 531 168 98 186 474 1,637

Mortgage-backed securities4 1,771,184 43,510 1,007,923 48,092 53,044 108,244 99,132 70,573 22,354 13,058 24,650 63,045 217,561

Unamortized premiums on securities 

held outright5 170,126 4,179 96,813 4,619 5,095 10,397 9,522 6,779 2,147 1,254 2,368 6,056 20,897

Unamortized discounts on securities 

held outright5 -15,004 -369 -8,538 -407 -449 -917 -840 -598 -189 -111 -209 -534 -1,843

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

Loans 15 0 0 0 0 0 0 5 0 0 0 0 10

Net portfolio holdings of Maiden

Lane LLC7 1,707 0 1,707 0 0 0 0 0 0 0 0 0 0

Items in process of collection 62 0 0 0 0 0 61 0 0 1 0 0 0

Bank premises 2,197 118 437 71 108 202 205 200 113 89 238 222 195

Central bank liquidity swaps8 917 41 303 50 70 205 51 25 9 4 9 12 140

Foreign currency denominated

assets9 19,756 873 6,519 1,087 1,505 4,406 1,097 529 203 84 197 250 3,005

Other assets10 23,312 605 12,663 639 697 1,605 1,310 926 572 190 373 883 2,848

Interdistrict settlement account 0 - 11,494 - 187,372 + 6,125 + 12,989 + 8,324 + 28,562 + 40,307 + 8,859 + 4,691 + 8,471 + 33,871 + 46,666

Total assets 4,469,577 98,921 2,345,590 128,273 148,203 285,330 280,126 218,912 65,866 37,860 71,146 193,331 596,019

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 15, 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 1,656,833 55,030 531,061 53,633 81,969 119,015 225,729 113,743 50,111 29,385 46,600 138,529 212,030

Less: Notes held by F.R. Banks 172,339 5,601 48,233 5,741 9,541 12,362 24,669 11,702 4,681 3,372 5,416 15,374 25,647

Federal Reserve notes, net 1,484,495 49,429 482,828 47,892 72,428 106,653 201,060 102,040 45,431 26,012 41,184 123,155 186,383

Reverse repurchase agreements11 477,012 11,718 271,452 12,952 14,286 29,152 26,698 19,006 6,020 3,517 6,639 16,979 58,593

Deposits 2,460,347 35,805 1,574,971 65,003 57,936 140,171 49,535 95,829 13,811 7,632 22,780 52,404 344,470

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 2,368,120 35,797 1,516,084 65,001 57,933 140,004 49,526 62,703 13,796 7,632 22,778 52,403 344,462

U.S. Treasury, General Account 23,416 0 23,416 0 0 0 0 0 0 0 0 0 0

Foreign official 5,169 2 5,142 2 3 9 2 1 0 0 0 1 6

Other12 63,642 6 30,328 0 0 158 7 33,124 15 0 1 1 2

Deferred availability cash items 438 0 0 0 0 0 53 0 0 384 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,879 47 1,073 51 62 122 108 68 19 17 19 66 229

Other liabilities and accrued

dividends 4,860 169 2,255 193 192 473 316 274 135 127 129 205 392

Total liabilities 4,429,030 97,167 2,332,578 126,091 144,903 276,571 277,770 217,217 65,415 37,689 70,751 192,810 590,067

Capital

Capital paid in 30,548 1,321 9,810 1,645 2,485 6,598 1,773 1,276 341 129 298 393 4,479

Surplus 10,000 434 3,202 538 815 2,161 583 419 109 42 97 128 1,473

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

Total liabilities and capital 4,469,577 98,921 2,345,590 128,273 148,203 285,330 280,126 218,912 65,866 37,860 71,146 193,331 596,019

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 15, 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 Mar 15, 2017

Federal Reserve notes outstanding 1,656,833

Less: Notes held by F.R. Banks not subject to collateralization 172,339

Federal Reserve notes to be collateralized 1,484,495

Collateral held against Federal Reserve notes 1,484,495

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,468,258

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,248,325

Less: Face value of securities under reverse repurchase agreements 456,762

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,791,563

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.