FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 30, 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

Nov 29, 2017 Nov 22, 2017 Nov 30, 2016

Wednesday

Nov 29, 2017

Reserve Bank credit 4,405,898 - 4,096 - 5,034 4,397,722

Securities held outright1 4,235,014 - 4,476 + 9,393 4,228,444

U.S. Treasury securities 2,456,900 + 155 - 6,933 2,456,959

Bills2 0 0 0 0

Notes and bonds, nominal2 2,327,698 0 - 12,809 2,327,698

Notes and bonds, inflation-indexed2 109,537 0 + 3,844 109,537

Inflation compensation3 19,666 + 156 + 2,034 19,724

Federal agency debt securities2 4,391 - 338 - 14,102 4,391

Mortgage-backed securities4 1,773,723 - 4,293 + 30,428 1,767,095

Unamortized premiums on securities held outright5 160,463 - 421 - 14,524 160,163

Unamortized discounts on securities held outright5 -14,236 + 29 + 969 -14,225

Repurchase agreements6 0 - 9 0 0

Loans 50 - 17 + 12 67

Primary credit 6 - 11 - 2 24

Secondary credit 0 0 0 0

Seasonal credit 44 - 6 + 14 43

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,710 0 + 9 1,709

Float -447 - 125 + 160 -1,446

Central bank liquidity swaps8 35 0 - 1,142 35

Other Federal Reserve assets9 23,309 + 923 + 88 22,975

Foreign currency denominated assets10 21,356 + 182 + 1,525 21,296

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,287 + 14 + 809 49,287

Total factors supplying reserve funds 4,492,782 - 3,900 - 2,700 4,484,546

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

Nov 29, 2017 Nov 22, 2017 Nov 30, 2016

Wednesday

Nov 29, 2017

Currency in circulation11 1,599,215 + 4,670 + 104,423 1,599,963

Reverse repurchase agreements12 278,286 + 11,865 - 111,063 294,644

Foreign official and international accounts 231,096 + 2,725 - 18,726 227,625

Others 47,190 + 9,139 - 92,338 67,019

Treasury cash holdings 203 - 2 + 37 202

Deposits with F.R. Banks, other than reserve balances 271,785 + 25,233 - 196,403 271,340

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 172,282 + 8,703 - 237,078 178,685

Foreign official 5,166 0 - 9 5,167

Other13 94,336 + 16,530 + 40,683 87,488

Other liabilities and capital14 48,398 - 655 + 2,096 47,226

Total factors, other than reserve balances,

absorbing reserve funds 2,197,886 + 41,111 - 200,912 2,213,375

Reserve balances with Federal Reserve Banks 2,294,895 - 45,012 + 198,211 2,271,171

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

Nov 29, 2017 Nov 22, 2017 Nov 30, 2016

Wednesday

Nov 29, 2017

Securities held in custody for foreign official and international

accounts 3,387,303 + 15,033 + 260,505 3,387,254

Marketable U.S. Treasury securities1 3,047,684 + 4,880 + 245,032 3,045,662

Federal agency debt and mortgage-backed securities2 263,788 + 1,794 - 637 263,784

Other securities3 75,831 + 8,359 + 16,110 77,807

Securities lent to dealers 21,163 + 207 - 1,051 17,827

Overnight facility4 21,163 + 207 - 1,051 17,827

U.S. Treasury securities 21,163 + 207 - 1,036 17,827

Federal agency debt securities 0 0 - 15 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, November 29, 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 67 0 0 0 0 ... 67

U.S. Treasury securities1

Holdings 7,869 65,013 335,543 1,117,114 308,302 623,118 2,456,959

Weekly changes 0 + 3 + 1 + 36 + 16 + 80 + 137

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 1 156 20,279 1,746,658 1,767,095

Weekly changes 0 0 0 - 4 - 367 - 11,219 - 11,588

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

Central bank liquidity swaps5 35 0 0 0 0 0 35

Reverse repurchase agreements4 294,644 0 ... ... ... ... 294,644

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 Nov 29, 2017

Mortgage-backed securities held outright1 1,767,095

Commitments to buy mortgage-backed securities2 20,542

Commitments to sell mortgage-backed securities2 168

Cash and cash equivalents3 12

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 Nov 29, 2017

Net portfolio holdings of Maiden Lane LLC1 1,709

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

Nov 29, 2017 Nov 22, 2017 Nov 30, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,833 - 2 + 4

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,374,449 - 11,997 - 8,169

Securities held outright1 4,228,444 - 11,452 + 5,416

U.S. Treasury securities 2,456,959 + 137 - 6,902

Bills2 0 0 0

Notes and bonds, nominal2 2,327,698 0 - 11,805

Notes and bonds, inflation-indexed2 109,537 0 + 2,840

Inflation compensation3 19,724 + 136 + 2,063

Federal agency debt securities2 4,391 0 - 14,102

Mortgage-backed securities4 1,767,095 - 11,588 + 26,421

Unamortized premiums on securities held outright5 160,163 - 581 - 14,616

Unamortized discounts on securities held outright5 -14,225 + 26 + 1,004

Repurchase agreements6 0 0 0

Loans 67 + 11 + 27

Net portfolio holdings of Maiden Lane LLC7 1,709 - 1 + 2

Items in process of collection (0) 57 - 11 0

Bank premises 2,211 + 2 + 1

Central bank liquidity swaps8 35 0 - 1,305

Foreign currency denominated assets9 21,296 + 65 + 1,558

Other assets10 20,766 - 79 + 195

Total assets (0) 4,438,592 - 12,023 - 7,715

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

Nov 29, 2017 Nov 22, 2017 Nov 30, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,552,706 + 1,061 + 104,075

Reverse repurchase agreements11 294,644 + 11,394 - 168,047

Deposits (0) 2,542,512 - 24,259 + 54,542

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,271,173 - 58,661 + 255,860

U.S. Treasury, General Account 178,685 + 26,902 - 243,349

Foreign official 5,167 + 2 - 2

Other12 (0) 87,488 + 7,499 + 42,034

Deferred availability cash items (0) 1,504 + 962 + 67

Other liabilities and accrued dividends13 5,908 - 1,256 + 708

Total liabilities (0) 4,397,274 - 12,098 - 8,654

Capital accounts

Capital paid in 31,318 + 75 + 939

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 41,318 + 75 + 939

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, November 29, 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 11,037 349 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 1,833 47 44 184 139 270 191 289 33 51 104 187 293

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,374,449 85,230 2,463,179 112,945 126,853 256,299 257,492 184,010 58,333 34,122 62,051 175,124 558,812

Securities held outright1 4,228,444 82,386 2,381,002 109,177 122,621 247,747 248,902 177,843 56,385 32,967 59,969 169,277 540,168

U.S. Treasury securities 2,456,959 47,871 1,383,493 63,438 71,250 143,955 144,626 103,337 32,763 19,156 34,845 98,359 313,867

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

Notes and bonds3 2,456,959 47,871 1,383,493 63,438 71,250 143,955 144,626 103,337 32,763 19,156 34,845 98,359 313,867

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

Mortgage-backed securities4 1,767,095 34,430 995,037 45,626 51,244 103,535 104,018 74,322 23,564 13,777 25,062 70,742 225,740

Unamortized premiums on securities 

held outright5 160,163 3,121 90,187 4,135 4,645 9,384 9,428 6,736 2,136 1,249 2,271 6,412 20,460

Unamortized discounts on securities 

held outright5 -14,225 -277 -8,010 -367 -413 -833 -837 -598 -190 -111 -202 -569 -1,817

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

Loans 67 1 0 0 0 1 0 29 1 17 12 4 1

Net portfolio holdings of Maiden

Lane LLC7 1,709 0 1,709 0 0 0 0 0 0 0 0 0 0

Items in process of collection 57 0 0 0 0 0 57 0 0 0 0 0 0

Bank premises 2,211 115 444 72 129 197 203 204 110 88 236 219 193

Central bank liquidity swaps8 35 2 11 2 3 8 2 1 0 0 0 0 5

Foreign currency denominated

assets9 21,296 923 6,820 1,145 1,735 4,602 1,242 891 233 90 207 272 3,136

Other assets10 20,766 440 11,131 524 600 1,435 1,228 865 467 173 351 947 2,605

Interdistrict settlement account 0 - 4,398 - 15,821 - 3,879 + 2,980 + 3,787 + 6,135 + 52,398 - 1,869 + 3,882 + 3,612 + 238 - 47,065

Total assets 4,438,592 82,904 2,472,928 111,550 133,229 267,786 268,724 239,820 57,797 38,688 67,006 178,186 519,975

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, November 29, 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 1,739,217 56,954 573,741 54,519 84,286 120,111 240,239 116,689 52,286 31,173 48,094 141,508 219,617

Less: Notes held by F.R. Banks 186,511 6,506 52,018 6,854 9,387 13,755 26,030 11,944 5,498 3,109 5,725 17,376 28,310

Federal Reserve notes, net 1,552,706 50,448 521,723 47,665 74,899 106,356 214,209 104,746 46,787 28,065 42,370 124,133 191,307

Reverse repurchase agreements11 294,644 5,741 165,912 7,608 8,544 17,263 17,344 12,392 3,929 2,297 4,179 11,796 37,640

Deposits 2,542,512 24,753 1,769,648 53,727 46,175 134,569 34,283 120,611 6,422 6,550 19,892 41,480 284,402

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 2,271,173 24,746 1,558,556 53,725 46,172 134,304 34,274 60,665 6,416 6,550 19,891 41,479 284,395

U.S. Treasury, General Account 178,685 0 178,685 0 0 0 0 0 0 0 0 0 0

Foreign official 5,167 2 5,140 2 3 9 2 2 0 0 0 1 6

Other12 87,488 5 27,267 0 0 256 7 59,945 6 0 1 0 1

Deferred availability cash items 1,504 0 0 0 0 0 65 0 0 1,439 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,126 25 587 31 43 48 93 36 29 11 15 56 154

Other liabilities and accrued

dividends 4,782 168 1,969 198 217 608 334 286 133 141 143 205 380

Total liabilities 4,397,274 81,134 2,459,839 109,229 129,879 258,844 266,327 238,071 57,301 38,502 66,598 177,668 513,882

Capital

Capital paid in 31,318 1,336 9,888 1,783 2,535 6,781 1,814 1,331 387 143 311 390 4,620

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 4,438,592 82,904 2,472,928 111,550 133,229 267,786 268,724 239,820 57,797 38,688 67,006 178,186 519,975

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, November 29, 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 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 $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 Nov 29, 2017

Federal Reserve notes outstanding 1,739,217

Less: Notes held by F.R. Banks not subject to collateralization 186,511

Federal Reserve notes to be collateralized 1,552,706

Collateral held against Federal Reserve notes 1,552,706

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,536,469

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,228,444

Less: Face value of securities under reverse repurchase agreements 287,112

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,941,332

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.