FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks September 8, 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

Sep 7, 2016 Aug 31, 2016 Sep 9, 2015

Wednesday

Sep 7, 2016

Reserve Bank credit 4,418,523 + 504 - 20,511 4,419,125

Securities held outright1 4,230,089 + 20 - 3,638 4,230,075

U.S. Treasury securities 2,463,613 + 15 + 1,671 2,463,599

Bills2 0 0 0 0

Notes and bonds, nominal2 2,341,647 - 821 - 4,993 2,341,647

Notes and bonds, inflation-indexed2 104,553 + 821 + 6,019 104,553

Inflation compensation3 17,413 + 15 + 645 17,399

Federal agency debt securities2 22,492 0 - 12,601 22,492

Mortgage-backed securities4 1,743,984 + 5 + 7,292 1,743,984

Unamortized premiums on securities held outright5 178,080 - 358 - 16,619 177,973

Unamortized discounts on securities held outright5 -15,593 + 29 + 1,621 -15,583

Repurchase agreements6 0 0 0 0

Loans 178 - 36 - 63 188

Primary credit 4 + 1 + 2 5

Secondary credit 0 0 0 0

Seasonal credit 174 - 36 - 65 183

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,707 0 + 4 1,707

Float -319 + 232 - 386 -429

Central bank liquidity swaps8 350 - 1,001 + 214 350

Other Federal Reserve assets9 24,031 + 1,617 - 1,643 24,845

Foreign currency denominated assets10 21,268 - 159 + 1,296 21,463

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 48,067 + 14 + 819 48,067

Total factors supplying reserve funds 4,504,099 + 359 - 18,396 4,504,896

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

Sep 7, 2016 Aug 31, 2016 Sep 9, 2015

Wednesday

Sep 7, 2016

Currency in circulation11 1,472,266 + 7,034 + 86,329 1,473,485

Reverse repurchase agreements12 332,781 - 3,347 + 106,730 319,779

Foreign official and international accounts 240,324 - 2,242 + 79,947 240,699

Others 92,457 - 1,105 + 26,783 79,080

Treasury cash holdings 111 + 2 - 50 104

Deposits with F.R. Banks, other than reserve balances 278,147 - 39,185 + 165,159 282,524

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 236,154 - 38,041 + 150,362 238,152

Foreign official 5,171 - 103 - 173 5,167

Other13 36,823 - 1,041 + 14,971 39,205

Other liabilities and capital14 46,984 + 5 - 19,146 46,974

Total factors, other than reserve balances,

absorbing reserve funds 2,130,290 - 35,490 + 339,023 2,122,868

Reserve balances with Federal Reserve Banks 2,373,809 + 35,849 - 357,419 2,382,028

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

Sep 7, 2016 Aug 31, 2016 Sep 9, 2015

Wednesday

Sep 7, 2016

Securities held in custody for foreign official and international

accounts 3,184,064 - 4,488 - 150,999 3,177,752

Marketable U.S. Treasury securities1 2,861,147 - 4,963 - 143,881 2,854,719

Federal agency debt and mortgage-backed securities2 262,854 + 289 - 22,473 262,842

Other securities3 60,062 + 184 + 15,353 60,192

Securities lent to dealers 24,540 + 2,094 + 12,004 24,734

Overnight facility4 24,540 + 2,094 + 12,004 24,734

U.S. Treasury securities 24,524 + 2,094 + 12,033 24,719

Federal agency debt securities 16 + 1 - 29 15

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, September 7, 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 45 142 0 0 0 ... 188

U.S. Treasury securities1

Holdings 0 37,466 150,744 1,209,231 431,090 635,068 2,463,599

Weekly changes 0 + 10,537 - 10,538 - 8 - 8 - 29 - 46

Federal agency debt securities2

Holdings 2,000 1,999 11,736 4,410 0 2,347 22,492

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 1,409 10,704 1,731,870 1,743,984

Weekly changes 0 0 0 + 224 - 83 - 140 + 2

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

Central bank liquidity swaps5 350 0 0 0 0 0 350

Reverse repurchase agreements4 319,779 0 ... ... ... ... 319,779

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 Sep 7, 2016

Mortgage-backed securities held outright1 1,743,984

Commitments to buy mortgage-backed securities2 41,632

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 5

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 Sep 7, 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 June 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

Sep 7, 2016 Aug 31, 2016 Sep 9, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,919 - 12 + 30

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,392,652 - 382 - 18,749

Securities held outright1 4,230,075 - 44 - 3,667

U.S. Treasury securities 2,463,599 - 46 + 1,656

Bills2 0 0 0

Notes and bonds, nominal2 2,341,647 0 - 4,993

Notes and bonds, inflation-indexed2 104,553 0 + 6,019

Inflation compensation3 17,399 - 46 + 630

Federal agency debt securities2 22,492 0 - 12,601

Mortgage-backed securities4 1,743,984 + 2 + 7,278

Unamortized premiums on securities held outright5 177,973 - 350 - 16,644

Unamortized discounts on securities held outright5 -15,583 + 32 + 1,622

Repurchase agreements6 0 0 0

Loans 188 - 19 - 59

Net portfolio holdings of Maiden Lane LLC7 1,707 0 + 4

Items in process of collection (0) 220 + 2 - 191

Bank premises 2,204 - 8 - 30

Central bank liquidity swaps8 350 - 1,001 + 214

Foreign currency denominated assets9 21,463 + 235 + 1,542

Other assets10 22,641 + 2,651 - 1,640

Total assets (0) 4,459,394 + 1,487 - 18,819

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

Sep 7, 2016 Aug 31, 2016 Sep 9, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,427,438 + 4,820 + 85,299

Reverse repurchase agreements11 319,779 - 102,751 + 91,727

Deposits (0) 2,664,553 + 99,093 - 177,757

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,382,028 + 151,421 - 352,622

U.S. Treasury, General Account 238,152 - 50,794 + 161,896

Foreign official 5,167 0 - 88

Other12 (0) 39,205 - 1,535 + 13,056

Deferred availability cash items (0) 650 - 716 + 188

Other liabilities and accrued dividends13 6,830 + 1,043 - 132

Total liabilities (0) 4,419,249 + 1,487 - 675

Capital accounts

Capital paid in 30,145 0 + 1,001

Surplus 10,000 0 - 19,144

Other capital accounts 0 0 0

Total capital 40,145 0 - 18,143

Note: Components may not sum to totals because of rounding.

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

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been

amortized. For U.S. Treasury 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, September 7, 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 1,919 48 75 154 132 304 190 278 30 56 136 195 321

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,392,652 107,903 2,499,607 119,265 131,547 268,440 245,847 175,033 55,496 32,462 61,153 156,357 539,543

Securities held outright1 4,230,075 103,913 2,407,196 114,856 126,684 258,516 236,754 168,547 53,387 31,186 58,872 150,568 519,596

U.S. Treasury securities 2,463,599 60,519 1,401,953 66,892 73,781 150,560 137,886 98,162 31,093 18,163 34,287 87,691 302,613

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

Notes and bonds3 2,463,599 60,519 1,401,953 66,892 73,781 150,560 137,886 98,162 31,093 18,163 34,287 87,691 302,613

Federal agency debt securities2 22,492 553 12,799 611 674 1,375 1,259 896 284 166 313 801 2,763

Mortgage-backed securities4 1,743,984 42,841 992,444 47,353 52,229 106,581 97,609 69,489 22,010 12,858 24,272 62,077 214,220

Unamortized premiums on securities 

held outright5 177,973 4,372 101,278 4,832 5,330 10,877 9,961 7,091 2,246 1,312 2,477 6,335 21,861

Unamortized discounts on securities 

held outright5 -15,583 -383 -8,868 -423 -467 -952 -872 -621 -197 -115 -217 -555 -1,914

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

Loans 188 1 0 0 0 0 5 16 60 78 21 8 0

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 220 0 0 0 0 0 219 0 0 1 0 0 0

Bank premises 2,204 118 428 72 105 206 208 201 115 90 240 225 197

Central bank liquidity swaps8 350 15 115 19 27 78 19 9 4 1 3 4 53

Foreign currency denominated

assets9 21,463 948 7,083 1,181 1,635 4,786 1,191 575 220 92 214 272 3,265

Other assets10 22,641 586 12,364 614 679 1,551 1,279 916 496 188 362 821 2,785

Interdistrict settlement account 0 - 13,654 - 65,500 - 5,742 + 2,001 + 536 + 8,262 + 6,492 + 1,311 + 606 + 969 + 13,536 + 51,183

Total assets 4,459,394 96,517 2,461,286 116,133 136,948 277,073 259,410 184,682 58,182 33,778 63,526 172,566 599,292

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, September 7, 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 1,613,031 50,475 526,736 50,326 81,418 113,976 222,145 106,270 50,057 27,776 41,504 133,736 208,612

Less: Notes held by F.R. Banks 185,593 6,213 55,339 6,476 9,293 13,605 27,959 12,218 5,373 3,004 5,380 15,513 25,220

Federal Reserve notes, net 1,427,438 44,262 471,397 43,850 72,125 100,372 194,186 94,052 44,685 24,771 36,123 118,223 183,392

Reverse repurchase agreements11 319,779 7,855 181,976 8,683 9,577 19,543 17,898 12,742 4,036 2,358 4,450 11,382 39,280

Deposits 2,664,553 42,447 1,791,410 61,184 51,933 147,703 44,312 76,067 8,865 6,031 22,410 42,173 370,017

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 2,382,028 42,444 1,516,641 61,181 51,930 147,309 44,303 68,742 8,857 6,031 22,409 42,172 370,008

U.S. Treasury, General Account 238,152 0 238,152 0 0 0 0 0 0 0 0 0 0

Foreign official 5,167 2 5,141 2 3 9 2 1 0 0 0 1 6

Other12 39,205 2 31,476 0 0 385 7 7,323 8 0 1 0 3

Deferred availability cash items 650 0 0 0 0 0 352 0 0 298 0 0 0

Earnings remittances due to the U.S.

Treasury13 2,172 58 1,182 64 78 165 128 83 27 15 29 75 268

Other liabilities and accrued

dividends 4,658 146 2,165 182 187 480 315 246 138 135 121 205 340

Total liabilities 4,419,249 94,769 2,448,130 113,962 133,899 268,263 257,191 183,189 57,751 33,608 63,133 172,058 593,296

Capital

Capital paid in 30,145 1,306 9,857 1,620 2,287 6,580 1,664 1,225 329 128 293 381 4,474

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 4,459,394 96,517 2,461,286 116,133 136,948 277,073 259,410 184,682 58,182 33,778 63,526 172,566 599,292

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, September 7, 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 Sep 7, 2016

Federal Reserve notes outstanding 1,613,031

Less: Notes held by F.R. Banks not subject to collateralization 185,593

Federal Reserve notes to be collateralized 1,427,438

Collateral held against Federal Reserve notes 1,427,438

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,411,201

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,230,075

Less: Face value of securities under reverse repurchase agreements 298,714

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,931,361

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.