FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 22, 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

Mar 21, 2018 Mar 14, 2018 Mar 22, 2017

Wednesday

Mar 21, 2018

Reserve Bank credit 4,361,534 + 2,113 - 74,683 4,360,723

Securities held outright1 4,193,059 + 1,718 - 58,961 4,192,285

U.S. Treasury securities 2,424,664 + 160 - 39,250 2,424,723

Bills2 0 0 0 0

Notes and bonds, nominal2 2,293,885 0 - 46,526 2,293,885

Notes and bonds, inflation-indexed2 111,220 0 + 5,319 111,220

Inflation compensation3 19,559 + 160 + 1,957 19,618

Federal agency debt securities2 4,391 0 - 8,938 4,391

Mortgage-backed securities4 1,764,005 + 1,559 - 10,772 1,763,171

Unamortized premiums on securities held outright5 155,314 - 366 - 14,705 155,105

Unamortized discounts on securities held outright5 -14,063 + 22 + 923 -14,054

Repurchase agreements6 0 0 0 0

Loans 16 + 6 + 7 14

Primary credit 5 + 3 + 2 0

Secondary credit 0 0 0 0

Seasonal credit 11 + 2 + 6 14

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,708 0 + 1 1,708

Float -153 + 36 + 137 -152

Central bank liquidity swaps8 77 + 13 - 942 77

Other Federal Reserve assets9 25,576 + 684 - 1,144 25,741

Foreign currency denominated assets10 22,201 - 21 + 2,136 22,163

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,535 + 14 + 793 49,535

Total factors supplying reserve funds 4,449,512 + 2,106 - 71,754 4,448,663

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Mar 21, 2018 Mar 14, 2018 Mar 22, 2017

Wednesday

Mar 21, 2018

Currency in circulation11 1,634,202 + 876 + 102,380 1,634,754

Reverse repurchase agreements12 241,746 + 15,419 - 239,663 249,149

Foreign official and international accounts 231,040 + 8,369 - 13,899 228,563

Others 10,706 + 7,050 - 225,764 20,586

Treasury cash holdings 316 0 + 53 317

Deposits with F.R. Banks, other than reserve balances 404,185 + 67,823 + 256,227 385,095

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 316,454 + 66,525 + 245,627 298,973

Foreign official 5,254 0 + 81 5,254

Other13 82,477 + 1,299 + 10,520 80,867

Other liabilities and capital14 45,476 - 770 - 2,925 44,280

Total factors, other than reserve balances,

absorbing reserve funds 2,325,925 + 83,349 + 116,072 2,313,595

Reserve balances with Federal Reserve Banks 2,123,587 - 81,242 - 187,826 2,135,068

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

Mar 21, 2018 Mar 14, 2018 Mar 22, 2017

Wednesday

Mar 21, 2018

Securities held in custody for foreign official and international

accounts 3,440,035 - 12,171 + 228,192 3,444,637

Marketable U.S. Treasury securities1 3,097,467 - 11,595 + 210,016 3,092,098

Federal agency debt and mortgage-backed securities2 263,136 + 644 + 381 273,104

Other securities3 79,432 - 1,220 + 17,795 79,435

Securities lent to dealers 22,700 - 1,735 - 1,127 25,940

Overnight facility4 22,700 - 1,735 - 1,127 25,940

U.S. Treasury securities 22,700 - 1,735 - 1,051 25,940

Federal agency debt securities 0 0 - 77 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, March 21, 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 14 0 0 0 0 ... 14

U.S. Treasury securities1

Holdings 31,201 89,280 298,434 1,081,492 297,970 626,346 2,424,723

Weekly changes + 31,201 - 31,201 + 4 + 22 + 41 + 93 + 161

Federal agency debt securities2

Holdings 0 1,982 0 62 0 2,347 4,391

Weekly changes 0 + 1,982 - 1,982 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 1 197 36,593 1,726,381 1,763,171

Weekly changes 0 0 0 + 24 - 71 - 5,370 - 5,417

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

Central bank liquidity swaps5 77 0 0 0 0 0 77

Reverse repurchase agreements4 249,149 0 ... ... ... ... 249,149

Term deposits 0 0 0 ... ... ... 0

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

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

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

4. Cash value of agreements.

5. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Mar 21, 2018

Mortgage-backed securities held outright1 1,763,171

Commitments to buy mortgage-backed securities2 9,090

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 9

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

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Mar 21, 2018

Net portfolio holdings of Maiden Lane LLC1 1,708

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

Mar 21, 2018 Mar 14, 2018 Mar 22, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,859 - 18 - 62

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,333,349 - 5,801 - 76,650

Securities held outright1 4,192,285 - 5,256 - 62,662

U.S. Treasury securities 2,424,723 + 161 - 39,251

Bills2 0 0 0

Notes and bonds, nominal2 2,293,885 0 - 46,526

Notes and bonds, inflation-indexed2 111,220 0 + 5,319

Inflation compensation3 19,618 + 161 + 1,957

Federal agency debt securities2 4,391 0 - 8,938

Mortgage-backed securities4 1,763,171 - 5,417 - 14,474

Unamortized premiums on securities held outright5 155,105 - 569 - 14,914

Unamortized discounts on securities held outright5 -14,054 + 26 + 922

Repurchase agreements6 0 0 0

Loans 14 - 1 + 5

Net portfolio holdings of Maiden Lane LLC7 1,708 0 + 1

Items in process of collection (0) 88 + 14 + 39

Bank premises 2,197 + 1 - 2

Central bank liquidity swaps8 77 + 13 - 942

Foreign currency denominated assets9 22,163 - 113 + 1,958

Other assets10 23,544 - 131 - 1,354

Total assets (0) 4,401,222 - 6,036 - 77,014

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Mar 21, 2018 Mar 14, 2018 Mar 22, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,587,391 - 269 + 100,086

Reverse repurchase agreements11 249,149 + 11,870 - 246,569

Deposits (0) 2,520,162 - 16,103 + 73,212

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,135,068 - 55,075 - 178,894

U.S. Treasury, General Account 298,973 + 62,813 + 244,728

Foreign official 5,254 0 + 83

Other12 (0) 80,867 - 23,840 + 7,295

Deferred availability cash items (0) 239 - 115 - 247

Other liabilities and accrued dividends13 5,110 - 1,431 - 2,101

Total liabilities (0) 4,362,051 - 6,047 - 75,619

Capital accounts

Capital paid in 31,670 + 10 + 1,105

Surplus 7,500 0 - 2,500

Other capital accounts 0 0 0

Total capital 39,170 + 10 - 1,395

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, March 21, 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 11,037 349 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 1,859 54 46 192 124 270 190 301 31 53 112 195 292

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,333,349 84,429 2,440,065 111,885 125,663 253,893 255,076 182,265 57,784 33,788 61,457 173,476 553,567

Securities held outright1 4,192,285 81,681 2,360,641 108,243 121,572 245,628 246,773 176,322 55,903 32,685 59,456 167,830 535,549

U.S. Treasury securities 2,424,723 47,243 1,365,342 62,605 70,315 142,066 142,728 101,981 32,333 18,904 34,388 97,069 309,749

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

Notes and bonds3 2,424,723 47,243 1,365,342 62,605 70,315 142,066 142,728 101,981 32,333 18,904 34,388 97,069 309,749

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

Mortgage-backed securities4 1,763,171 34,353 992,827 45,524 51,130 103,305 103,787 74,157 23,511 13,747 25,006 70,585 225,238

Unamortized premiums on securities 

held outright5 155,105 3,022 87,338 4,005 4,498 9,088 9,130 6,523 2,068 1,209 2,200 6,209 19,814

Unamortized discounts on securities 

held outright5 -14,054 -274 -7,914 -363 -408 -823 -827 -591 -187 -110 -199 -563 -1,795

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

Loans 14 0 0 0 0 0 0 11 0 3 0 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,708 0 1,708 0 0 0 0 0 0 0 0 0 0

Items in process of collection 88 0 0 0 0 0 87 0 0 0 0 0 0

Bank premises 2,197 113 444 74 121 198 203 202 109 87 235 220 192

Central bank liquidity swaps8 77 3 25 4 6 17 4 3 1 0 1 1 11

Foreign currency denominated

assets9 22,163 961 7,098 1,192 1,805 4,789 1,293 928 242 94 215 283 3,263

Other assets10 23,544 492 12,658 602 686 1,570 1,393 983 592 198 398 1,011 2,961

Interdistrict settlement account 0 - 4,602 - 5,287 + 769 - 4,309 + 16,219 + 8,003 + 39,005 - 148 + 1,747 + 7,477 + 1,073 - 59,948

Total assets 4,401,222 81,995 2,462,168 115,275 124,887 278,143 268,424 224,848 59,102 36,248 70,340 177,457 502,335

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, March 21, 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 1,771,080 58,840 601,598 53,849 87,085 122,530 242,462 114,555 52,075 30,719 47,367 139,789 220,210

Less: Notes held by F.R. Banks 183,688 6,584 48,720 7,342 9,840 13,946 27,504 12,274 5,315 3,684 6,013 17,279 25,186

Federal Reserve notes, net 1,587,391 52,256 552,878 46,506 77,246 108,584 214,959 102,280 46,760 27,035 41,355 122,509 195,024

Reverse repurchase agreements11 249,149 4,854 140,294 6,433 7,225 14,598 14,666 10,479 3,322 1,942 3,534 9,974 31,828

Deposits 2,520,162 23,041 1,754,593 59,840 37,054 145,968 36,105 110,125 8,286 6,765 24,917 44,221 269,247

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 2,135,068 23,010 1,427,866 59,838 36,976 145,808 36,051 52,135 8,281 6,764 24,908 44,191 269,240

U.S. Treasury, General Account 298,973 0 298,973 0 0 0 0 0 0 0 0 0 0

Foreign official 5,254 2 5,227 2 3 9 2 2 0 0 0 1 6

Other12 80,867 29 22,527 0 75 151 52 57,989 5 0 9 30 2

Deferred availability cash items 239 0 0 0 0 0 62 0 0 177 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,189 21 678 23 34 33 96 42 20 11 17 61 152

Other liabilities and accrued

dividends 3,921 161 1,411 185 187 478 295 270 126 138 131 204 334

Total liabilities 4,362,051 80,333 2,449,854 112,987 121,746 269,661 266,183 223,196 58,514 36,068 69,954 176,969 496,585

Capital

Capital paid in 31,670 1,343 9,949 1,861 2,536 6,862 1,808 1,334 480 145 312 395 4,645

Surplus 7,500 319 2,364 426 605 1,620 433 318 108 34 74 93 1,104

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

Total liabilities and capital 4,401,222 81,995 2,462,168 115,275 124,887 278,143 268,424 224,848 59,102 36,248 70,340 177,457 502,335

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, March 21, 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 $7.5 billion surplus.

Note on consolidation:

On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to acquire certain

assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of

the subordinated loan from JPMorgan Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any

residual losses should they have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation

of the statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the previous

page (and in table 1 and table 5), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other liabilities in this table (and table 1

and table 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Mar 21, 2018

Federal Reserve notes outstanding 1,771,080

Less: Notes held by F.R. Banks not subject to collateralization 183,688

Federal Reserve notes to be collateralized 1,587,391

Collateral held against Federal Reserve notes 1,587,391

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,571,154

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,192,285

Less: Face value of securities under reverse repurchase agreements 247,807

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,944,478

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.