FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 12, 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

Jul 11, 2018 Jul 4, 2018 Jul 12, 2017

Wednesday

Jul 11, 2018

Reserve Bank credit 4,250,856 - 9,079 - 175,878 4,251,681

Securities held outright1 4,084,139 - 10,152 - 159,350 4,084,188

U.S. Treasury securities 2,360,457 - 10,153 - 104,655 2,360,504

Bills2 0 0 0 0

Notes and bonds, nominal2 2,224,161 - 10,286 - 113,448 2,224,161

Notes and bonds, inflation-indexed2 114,860 0 + 6,126 114,860

Inflation compensation3 21,436 + 132 + 2,667 21,483

Federal agency debt securities2 2,409 0 - 5,688 2,409

Mortgage-backed securities4 1,721,273 + 1 - 49,008 1,721,275

Unamortized premiums on securities held outright5 149,331 - 249 - 16,291 149,265

Unamortized discounts on securities held outright5 -13,914 + 9 + 805 -13,904

Repurchase agreements6 0 0 0 0

Loans 194 - 14 + 40 200

Primary credit 8 - 30 - 7 6

Secondary credit 0 0 0 0

Seasonal credit 186 + 16 + 47 195

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,711 0 + 2 1,711

Float -235 + 222 + 38 -183

Central bank liquidity swaps8 239 - 852 + 183 96

Other Federal Reserve assets9 29,392 + 1,959 - 1,303 30,307

Foreign currency denominated assets10 21,210 + 61 + 556 21,148

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,713 + 14 + 711 49,713

Total factors supplying reserve funds 4,338,020 - 9,005 - 174,610 4,338,783

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

Jul 11, 2018 Jul 4, 2018 Jul 12, 2017

Wednesday

Jul 11, 2018

Currency in circulation11 1,672,233 + 3,584 + 107,264 1,672,158

Reverse repurchase agreements12 261,252 - 38,964 - 166,826 249,412

Foreign official and international accounts 257,313 + 7,550 + 14,993 248,182

Others 3,939 - 46,514 - 181,818 1,230

Treasury cash holdings 195 - 2 + 16 195

Deposits with F.R. Banks, other than reserve balances 401,829 - 12,992 + 150,777 392,251

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 326,476 - 9,550 + 155,443 316,434

Foreign official 5,257 - 20 + 92 5,256

Other13 70,096 - 3,422 - 4,757 70,560

Other liabilities and capital14 44,427 - 727 - 3,156 43,900

Total factors, other than reserve balances,

absorbing reserve funds 2,379,936 - 49,102 + 88,075 2,357,915

Reserve balances with Federal Reserve Banks 1,958,085 + 40,098 - 262,684 1,980,868

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

Jul 11, 2018 Jul 4, 2018 Jul 12, 2017

Wednesday

Jul 11, 2018

Securities held in custody for foreign official and international

accounts 3,405,484 + 9,659 + 82,897 3,400,253

Marketable U.S. Treasury securities1 3,041,355 + 9,083 + 41,833 3,035,721

Federal agency debt and mortgage-backed securities2 291,292 0 + 30,519 291,292

Other securities3 72,837 + 576 + 10,546 73,240

Securities lent to dealers 20,611 - 372 - 3,454 18,400

Overnight facility4 20,611 - 372 - 3,454 18,400

U.S. Treasury securities 20,611 - 372 - 3,454 18,400

Federal agency debt securities 0 0 0 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, July 11, 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 38 162 0 0 0 ... 200

U.S. Treasury securities1

Holdings 1,133 93,310 307,881 1,042,558 296,037 619,586 2,360,504

Weekly changes + 1 0 + 2 + 19 + 45 + 61 + 127

Federal agency debt securities2

Holdings 0 0 62 0 0 2,347 2,409

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 147 41,885 1,679,242 1,721,275

Weekly changes 0 0 0 0 + 2,715 - 2,712 + 3

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

Central bank liquidity swaps5 96 0 0 0 0 0 96

Reverse repurchase agreements4 249,412 0 ... ... ... ... 249,412

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 Jul 11, 2018

Mortgage-backed securities held outright1 1,721,275

Commitments to buy mortgage-backed securities2 14,598

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 8

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 Jul 11, 2018

Net portfolio holdings of Maiden Lane LLC1 1,711

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

Jul 11, 2018 Jul 4, 2018 Jul 12, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,750 - 6 - 55

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,219,750 - 21 - 174,735

Securities held outright1 4,084,188 + 130 - 159,310

U.S. Treasury securities 2,360,504 + 127 - 104,617

Bills2 0 0 0

Notes and bonds, nominal2 2,224,161 0 - 113,448

Notes and bonds, inflation-indexed2 114,860 0 + 6,126

Inflation compensation3 21,483 + 127 + 2,705

Federal agency debt securities2 2,409 0 - 5,688

Mortgage-backed securities4 1,721,275 + 3 - 49,006

Unamortized premiums on securities held outright5 149,265 - 211 - 16,279

Unamortized discounts on securities held outright5 -13,904 + 28 + 805

Repurchase agreements6 0 0 0

Loans 200 + 31 + 49

Net portfolio holdings of Maiden Lane LLC7 1,711 0 + 2

Items in process of collection (0) 203 - 33 + 141

Bank premises 2,183 + 1 - 13

Central bank liquidity swaps8 96 - 995 + 41

Foreign currency denominated assets9 21,148 + 1 + 438

Other assets10 28,124 + 2,490 - 1,320

Total assets (0) 4,291,201 + 1,437 - 175,501

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

Jul 11, 2018 Jul 4, 2018 Jul 12, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,624,385 - 32 + 106,576

Reverse repurchase agreements11 249,412 - 15,193 - 170,484

Deposits (0) 2,373,119 + 18,789 - 108,194

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,980,868 + 26,658 - 258,083

U.S. Treasury, General Account 316,434 - 9,109 + 154,278

Foreign official 5,256 + 2 + 91

Other12 (0) 70,560 + 1,237 - 4,480

Deferred availability cash items (0) 386 - 48 - 127

Other liabilities and accrued dividends13 5,000 - 2,076 - 1,325

Total liabilities (0) 4,252,301 + 1,438 - 173,554

Capital accounts

Capital paid in 32,075 - 1 + 1,228

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 38,900 - 1 - 1,947

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, July 11, 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 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

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

Coin 1,750 35 41 164 114 250 187 289 27 48 104 196 295

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,219,750 80,589 2,329,519 106,536 119,626 249,697 253,303 226,010 56,254 35,284 66,430 174,478 522,026

Securities held outright1 4,084,188 78,004 2,254,789 103,117 115,788 241,686 245,161 218,740 54,374 34,083 64,295 168,880 505,272

U.S. Treasury securities 2,360,504 45,083 1,303,181 59,598 66,921 139,686 141,693 126,423 31,426 19,698 37,160 97,606 292,028

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

Notes and bonds3 2,360,504 45,083 1,303,181 59,598 66,921 139,686 141,693 126,423 31,426 19,698 37,160 97,606 292,028

Federal agency debt securities2 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298

Mortgage-backed securities4 1,721,275 32,875 950,277 43,459 48,799 101,858 103,323 92,188 22,916 14,364 27,097 71,174 212,946

Unamortized premiums on securities 

held outright5 149,265 2,851 82,406 3,769 4,232 8,833 8,960 7,994 1,987 1,246 2,350 6,172 18,466

Unamortized discounts on securities 

held outright5 -13,904 -266 -7,676 -351 -394 -823 -835 -745 -185 -116 -219 -575 -1,720

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

Loans 200 0 0 1 0 0 17 20 77 72 4 0 8

Net portfolio holdings of Maiden

Lane LLC7 1,711 0 1,711 0 0 0 0 0 0 0 0 0 0

Items in process of collection 203 1 0 0 0 0 201 0 0 0 0 0 0

Bank premises 2,183 109 442 74 118 196 203 198 107 95 233 219 189

Central bank liquidity swaps8 96 4 30 5 8 21 6 4 1 0 1 1 14

Foreign currency denominated

assets9 21,148 900 6,668 1,201 1,707 4,568 1,222 896 305 97 210 262 3,112

Other assets10 28,124 568 15,063 706 811 1,877 1,689 1,484 455 304 512 1,197 3,458

Interdistrict settlement account 0 + 3,426 + 62,206 - 5,083 - 299 + 4,640 + 25,793 - 18,086 - 1,065 - 1,243 - 7,985 - 5,723 - 56,581

Total assets 4,291,201 86,191 2,421,123 104,165 122,866 262,434 284,749 211,959 56,567 34,875 59,965 171,816 474,491

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, July 11, 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 1,792,178 58,966 606,381 53,743 87,475 124,920 259,583 113,148 51,832 30,323 46,926 141,227 217,654

Less: Notes held by F.R. Banks 167,793 5,723 42,453 6,335 8,925 13,396 26,106 11,364 5,159 2,868 5,197 15,907 24,360

Federal Reserve notes, net 1,624,385 53,244 563,928 47,408 78,550 111,524 233,478 101,784 46,673 27,455 41,729 125,320 193,294

Reverse repurchase agreements11 249,412 4,763 137,695 6,297 7,071 14,759 14,971 13,358 3,320 2,081 3,926 10,313 30,856

Deposits 2,373,119 26,379 1,705,052 48,013 33,939 127,316 33,494 94,865 5,836 4,819 13,770 35,437 244,198

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 1,980,868 26,345 1,362,275 48,010 33,880 126,688 33,458 46,385 5,831 4,743 13,756 35,306 244,191

U.S. Treasury, General Account 316,434 0 316,434 0 0 0 0 0 0 0 0 0 0

Foreign official 5,256 2 5,229 2 3 9 2 2 1 0 0 0 6

Other12 70,560 32 21,115 1 56 619 34 48,479 4 76 14 131 1

Deferred availability cash items 386 0 0 0 0 0 198 0 0 188 0 0 0

Earnings remittances due to the U.S.

Treasury13 985 12 548 15 18 14 85 56 18 14 28 63 114

Other liabilities and accrued

dividends 4,015 159 1,539 177 184 462 290 269 133 141 137 203 320

Total liabilities 4,252,301 84,558 2,408,762 101,909 119,762 254,075 282,516 210,332 55,980 34,699 59,590 171,336 468,783

Capital

Capital paid in 32,075 1,343 10,210 1,868 2,553 6,885 1,838 1,337 489 145 308 395 4,704

Surplus 6,825 290 2,151 388 551 1,474 394 289 98 31 68 84 1,005

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

Total liabilities and capital 4,291,201 86,191 2,421,123 104,165 122,866 262,434 284,749 211,959 56,567 34,875 59,965 171,816 474,491

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, July 11, 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 $6.825 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 Jul 11, 2018

Federal Reserve notes outstanding 1,792,178

Less: Notes held by F.R. Banks not subject to collateralization 167,793

Federal Reserve notes to be collateralized 1,624,385

Collateral held against Federal Reserve notes 1,624,385

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,608,148

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,084,188

Less: Face value of securities under reverse repurchase agreements 246,585

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,837,604

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.