FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 29, 2016

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

Dec 28, 2016 Dec 21, 2016 Dec 30, 2015

Wednesday

Dec 28, 2016

Reserve Bank credit 4,427,224 + 3,658 - 27,428 4,413,259

Securities held outright1 4,233,391 + 2,493 - 14,475 4,221,168

U.S. Treasury securities 2,463,591 + 38 + 2,033 2,463,601

Bills2 0 0 0 0

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

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

Inflation compensation3 17,791 + 38 + 1,406 17,801

Federal agency debt securities2 16,180 - 181 - 16,764 16,180

Mortgage-backed securities4 1,753,620 + 2,637 + 255 1,741,387

Unamortized premiums on securities held outright5 173,584 - 361 - 16,249 173,109

Unamortized discounts on securities held outright5 -15,104 + 36 + 1,482 -15,092

Repurchase agreements6 0 0 0 0

Loans 44 + 9 - 189 47

Primary credit 15 + 8 - 146 17

Secondary credit 0 0 0 0

Seasonal credit 29 + 1 - 43 31

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,707 0 - 9 1,707

Float -286 + 106 - 75 -691

Central bank liquidity swaps8 4,826 + 83 + 3,829 4,826

Other Federal Reserve assets9 29,061 + 1,291 - 1,744 28,184

Foreign currency denominated assets10 19,367 + 38 - 370 19,288

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 48,538 + 14 + 975 48,538

Total factors supplying reserve funds 4,511,369 + 3,708 - 26,824 4,497,326

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

Dec 28, 2016 Dec 21, 2016 Dec 30, 2015

Wednesday

Dec 28, 2016

Currency in circulation11 1,506,076 + 6,757 + 82,342 1,509,076

Reverse repurchase agreements12 540,549 + 47,777 + 136,135 573,757

Foreign official and international accounts 247,280 - 7,902 + 32,106 249,845

Others 293,269 + 55,679 + 104,029 323,912

Treasury cash holdings 164 + 5 - 92 166

Deposits with F.R. Banks, other than reserve balances 465,071 + 19,364 + 120,061 424,956

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 380,679 - 7,818 + 90,212 372,825

Foreign official 5,166 - 33 - 214 5,165

Other13 79,227 + 27,215 + 30,064 46,966

Other liabilities and capital14 46,954 + 260 - 11,584 46,395

Total factors, other than reserve balances,

absorbing reserve funds 2,558,814 + 74,162 + 326,862 2,554,351

Reserve balances with Federal Reserve Banks 1,952,555 - 70,454 - 353,686 1,942,975

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

Dec 28, 2016 Dec 21, 2016 Dec 30, 2015

Wednesday

Dec 28, 2016

Securities held in custody for foreign official and international

accounts 3,179,877 + 8,023 - 144,034 3,181,626

Marketable U.S. Treasury securities1 2,858,943 + 9,257 - 149,530 2,860,887

Federal agency debt and mortgage-backed securities2 261,539 - 1,231 - 7,229 261,364

Other securities3 59,395 - 3 + 12,725 59,375

Securities lent to dealers 21,987 + 315 + 6,183 21,270

Overnight facility4 21,987 + 315 + 6,183 21,270

U.S. Treasury securities 21,971 + 321 + 6,287 21,221

Federal agency debt securities 16 - 6 - 104 49

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, December 28, 2016

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 47 0 0 0 0 ... 47

U.S. Treasury securities1

Holdings 11,702 30,795 146,822 1,241,849 399,275 633,160 2,463,601

Weekly changes 0 + 1 + 1 + 6 + 7 + 22 + 35

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 77 10,584 1,730,726 1,741,387

Weekly changes 0 0 0 - 1 - 261 - 16,833 - 17,094

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

Central bank liquidity swaps5 4,826 0 0 0 0 0 4,826

Reverse repurchase agreements4 573,757 0 ... ... ... ... 573,757

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 Dec 28, 2016

Mortgage-backed securities held outright1 1,741,387

Commitments to buy mortgage-backed securities2 35,182

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 7

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 Dec 28, 2016

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 September 30, 2016. Any assets purchased after

this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Dec 28, 2016 Dec 21, 2016 Dec 30, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,874 + 2 - 13

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,379,233 - 17,875 - 36,331

Securities held outright1 4,221,168 - 17,059 - 20,797

U.S. Treasury securities 2,463,601 + 35 + 2,047

Bills2 0 0 0

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

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

Inflation compensation3 17,801 + 35 + 1,420

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

Mortgage-backed securities4 1,741,387 - 17,094 - 6,080

Unamortized premiums on securities held outright5 173,109 - 858 - 16,430

Unamortized discounts on securities held outright5 -15,092 + 35 + 1,483

Repurchase agreements6 0 0 0

Loans 47 + 5 - 588

Net portfolio holdings of Maiden Lane LLC7 1,707 0 - 10

Items in process of collection (0) 94 + 28 - 59

Bank premises 2,210 + 6 - 34

Central bank liquidity swaps8 4,826 + 83 + 3,829

Foreign currency denominated assets9 19,288 - 30 - 469

Other assets10 25,983 + 149 - 2,046

Total assets (0) 4,451,451 - 17,638 - 35,136

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

Dec 28, 2016 Dec 21, 2016 Dec 30, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,462,574 + 6,073 + 81,815

Reverse repurchase agreements11 573,757 + 13,585 + 75,238

Deposits (0) 2,367,939 - 37,667 - 192,731

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,942,983 - 19,784 - 265,700

U.S. Treasury, General Account 372,825 - 14,189 + 47,979

Foreign official 5,165 - 16 - 66

Other12 (0) 46,966 - 3,677 + 25,056

Deferred availability cash items (0) 785 + 310 + 501

Other liabilities and accrued dividends13 5,953 + 60 - 950

Total liabilities (0) 4,411,008 - 17,639 - 36,128

Capital accounts

Capital paid in 30,443 + 1 + 992

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 40,443 + 1 + 992

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, December 28, 2016

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 1,874 46 67 161 138 306 187 279 29 51 113 189 308

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,379,233 107,577 2,492,050 118,906 131,149 267,628 245,099 174,498 55,271 32,297 60,958 155,876 537,922

Securities held outright1 4,221,168 103,694 2,402,128 114,614 126,417 257,971 236,255 168,192 53,275 31,121 58,748 150,251 518,502

U.S. Treasury securities 2,463,601 60,519 1,401,954 66,892 73,781 150,560 137,886 98,162 31,093 18,163 34,287 87,691 302,614

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

Notes and bonds3 2,463,601 60,519 1,401,954 66,892 73,781 150,560 137,886 98,162 31,093 18,163 34,287 87,691 302,614

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

Mortgage-backed securities4 1,741,387 42,778 990,966 47,282 52,152 106,423 97,464 69,385 21,978 12,838 24,236 61,984 213,901

Unamortized premiums on securities 

held outright5 173,109 4,252 98,510 4,700 5,184 10,579 9,689 6,897 2,185 1,276 2,409 6,162 21,264

Unamortized discounts on securities 

held outright5 -15,092 -371 -8,588 -410 -452 -922 -845 -601 -190 -111 -210 -537 -1,854

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

Loans 47 1 0 2 0 0 0 10 2 11 11 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 94 0 0 0 0 0 93 0 0 0 0 0 0

Bank premises 2,210 119 441 72 107 203 206 201 114 90 239 224 196

Central bank liquidity swaps8 4,826 213 1,592 266 368 1,076 268 129 50 21 48 61 734

Foreign currency denominated

assets9 19,288 852 6,365 1,061 1,469 4,301 1,071 517 198 82 193 245 2,934

Other assets10 25,983 674 14,274 710 779 1,745 1,470 1,039 389 212 417 1,082 3,192

Interdistrict settlement account 0 - 14,243 - 60,988 - 9,489 + 236 - 2,055 + 22,226 + 17,363 + 3,363 + 4,002 + 4,141 + 21,256 + 14,188

Total assets 4,451,451 95,789 2,460,914 112,256 135,069 274,376 272,815 195,203 59,923 37,038 66,558 180,089 561,420

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, December 28, 2016 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes outstanding 1,638,669 52,737 534,978 51,957 80,322 117,463 224,571 108,987 49,542 28,333 44,406 135,823 209,551

Less: Notes held by F.R. Banks 176,095 5,563 50,588 6,414 8,424 12,801 24,908 10,776 5,159 2,970 5,615 16,328 26,549

Federal Reserve notes, net 1,462,574 47,173 484,389 45,543 71,898 104,662 199,663 98,211 44,383 25,363 38,790 119,495 183,002

Reverse repurchase agreements11 573,757 14,094 326,506 15,579 17,183 35,064 32,113 22,861 7,241 4,230 7,985 20,423 70,477

Deposits 2,367,939 32,575 1,634,189 48,717 42,504 125,208 38,185 72,287 7,723 6,470 19,247 39,402 301,433

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 1,942,983 32,569 1,225,320 48,714 42,501 125,045 38,176 56,416 7,703 6,469 19,243 39,401 301,425

U.S. Treasury, General Account 372,825 0 372,825 0 0 0 0 0 0 0 0 0 0

Foreign official 5,165 2 5,139 2 3 9 2 1 0 0 0 1 6

Other12 46,966 4 30,906 0 0 154 7 15,869 19 0 4 1 2

Deferred availability cash items 785 0 0 0 0 0 122 0 0 663 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,397 33 828 34 40 77 83 47 13 10 18 56 159

Other liabilities and accrued

dividends 4,556 152 1,954 196 203 555 318 255 128 132 121 198 345

Total liabilities 4,411,008 94,027 2,447,867 110,069 131,828 265,567 270,484 193,661 59,487 36,867 66,162 179,573 555,416

Capital

Capital paid in 30,443 1,320 9,748 1,637 2,480 6,579 1,776 1,274 333 129 296 389 4,483

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

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

Total liabilities and capital 4,451,451 95,789 2,460,914 112,256 135,069 274,376 272,815 195,203 59,923 37,038 66,558 180,089 561,420

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, December 28, 2016 (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 Dec 28, 2016

Federal Reserve notes outstanding 1,638,669

Less: Notes held by F.R. Banks not subject to collateralization 176,095

Federal Reserve notes to be collateralized 1,462,574

Collateral held against Federal Reserve notes 1,462,574

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,446,337

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,221,168

Less: Face value of securities under reverse repurchase agreements 558,159

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,663,009

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.