FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 1, 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

Oct 31, 2018 Oct 24, 2018 Nov 1, 2017

Wednesday

Oct 31, 2018

Reserve Bank credit 4,121,289 - 15,340 - 299,519 4,100,108

Securities held outright1 3,962,219 - 14,010 - 279,235 3,941,797

U.S. Treasury securities 2,290,821 - 3,394 - 173,249 2,270,399

Bills2 53 - 7 + 53 53

Notes and bonds, nominal2 2,153,190 - 3,405 - 182,386 2,132,762

Notes and bonds, inflation-indexed2 115,579 0 + 6,131 115,579

Inflation compensation3 21,999 + 17 + 2,953 22,005

Federal agency debt securities2 2,409 0 - 4,348 2,409

Mortgage-backed securities4 1,668,989 - 10,616 - 101,638 1,668,989

Unamortized premiums on securities held outright5 143,331 - 594 - 18,041 143,237

Unamortized discounts on securities held outright5 -13,551 + 32 + 765 -13,540

Repurchase agreements6 0 0 0 0

Loans 187 - 15 + 82 230

Primary credit 14 - 2 + 6 61

Secondary credit 0 0 0 0

Seasonal credit 173 - 13 + 76 169

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 7 0 - 1,704 7

Float -352 - 209 + 170 -877

Central bank liquidity swaps8 80 0 + 40 80

Other Federal Reserve assets9 29,368 - 543 - 1,596 29,174

Foreign currency denominated assets10 20,711 - 97 - 182 20,626

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,829 + 14 + 581 49,829

Total factors supplying reserve funds 4,208,070 - 15,424 - 299,119 4,186,805

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

Oct 31, 2018 Oct 24, 2018 Nov 1, 2017

Wednesday

Oct 31, 2018

Currency in circulation11 1,691,432 + 1,601 + 106,017 1,696,031

Reverse repurchase agreements12 223,760 - 4,127 - 127,548 236,530

Foreign official and international accounts 221,583 - 1,141 - 18,433 231,715

Others 2,176 - 2,986 - 109,115 4,815

Treasury cash holdings 230 0 + 13 232

Deposits with F.R. Banks, other than reserve balances 446,112 + 3,573 + 166,390 438,541

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 373,368 + 3,792 + 179,822 366,596

Foreign official 5,301 + 45 + 133 5,257

Other13 67,443 - 264 - 13,565 66,688

Other liabilities and capital14 44,283 - 1,115 - 3,029 43,929

Total factors, other than reserve balances,

absorbing reserve funds 2,405,817 - 68 + 141,843 2,415,264

Reserve balances with Federal Reserve Banks 1,802,252 - 15,356 - 440,963 1,771,541

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

Oct 31, 2018 Oct 24, 2018 Nov 1, 2017

Wednesday

Oct 31, 2018

Securities held in custody for foreign official and international

accounts 3,414,455 - 19,802 + 48,697 3,404,618

Marketable U.S. Treasury securities1 3,042,515 - 18,145 + 3,940 3,032,247

Federal agency debt and mortgage-backed securities2 305,424 - 1,636 + 42,924 306,038

Other securities3 66,515 - 22 + 1,831 66,334

Securities lent to dealers 15,620 + 245 - 9,718 18,052

Overnight facility4 15,620 + 245 - 9,718 18,052

U.S. Treasury securities 15,620 + 245 - 9,718 18,052

Federal agency debt securities 0 0 0 0

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

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, October 31, 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 199 30 0 0 0 ... 230

U.S. Treasury securities1

Holdings 34,357 45,211 324,193 985,372 264,095 617,170 2,270,399

Weekly changes + 10,471 - 34,304 + 15,683 - 13,988 - 1,686 + 8 - 23,816

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 2 189 48,702 1,620,096 1,668,989

Weekly changes 0 0 0 - 5 - 781 - 7,180 - 7,967

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

Central bank liquidity swaps5 80 0 0 0 0 0 80

Reverse repurchase agreements4 236,530 0 ... ... ... ... 236,530

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 Oct 31, 2018

Mortgage-backed securities held outright1 1,668,989

Commitments to buy mortgage-backed securities2 2,943

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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 Oct 31, 2018

Net portfolio holdings of Maiden Lane LLC1 7

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.

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

Oct 31, 2018 Oct 24, 2018 Nov 1, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,737 - 9 - 95

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,071,724 - 32,240 - 312,507

Securities held outright1 3,941,797 - 31,783 - 295,417

U.S. Treasury securities 2,270,399 - 23,816 - 189,428

Bills2 53 0 + 53

Notes and bonds, nominal2 2,132,762 - 23,833 - 198,439

Notes and bonds, inflation-indexed2 115,579 0 + 6,042

Inflation compensation3 22,005 + 17 + 2,917

Federal agency debt securities2 2,409 0 - 4,348

Mortgage-backed securities4 1,668,989 - 7,967 - 101,641

Unamortized premiums on securities held outright5 143,237 - 485 - 18,037

Unamortized discounts on securities held outright5 -13,540 + 32 + 770

Repurchase agreements6 0 0 0

Loans 230 - 4 + 178

Net portfolio holdings of Maiden Lane LLC7 7 0 - 1,705

Items in process of collection (0) 146 + 20 + 80

Bank premises 2,210 + 22 + 11

Central bank liquidity swaps8 80 0 + 40

Foreign currency denominated assets9 20,626 - 72 - 239

Other assets10 26,964 - 1,059 - 1,741

Total assets (0) 4,139,731 - 33,339 - 316,156

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

Oct 31, 2018 Oct 24, 2018 Nov 1, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,648,166 + 5,501 + 106,072

Reverse repurchase agreements11 236,530 + 10,593 - 83,406

Deposits (0) 2,210,082 - 49,118 - 336,206

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,771,541 - 53,469 - 509,931

U.S. Treasury, General Account 366,596 + 5,915 + 184,832

Foreign official 5,257 + 1 + 80

Other12 (0) 66,688 - 1,566 - 11,187

Deferred availability cash items (0) 1,022 + 693 + 519

Other liabilities and accrued dividends13 4,833 - 1,010 - 1,017

Total liabilities (0) 4,100,634 - 33,342 - 314,036

Capital accounts

Capital paid in 32,271 + 2 + 1,054

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 39,096 + 2 - 2,121

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, October 31, 2018

Millions of dollars

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

Assets

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

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

Coin 1,737 46 36 155 118 236 182 288 29 44 108 200 294

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,071,724 77,762 2,247,783 102,797 115,428 240,938 244,411 218,075 54,284 34,036 64,106 168,356 503,748

Securities held outright1 3,941,797 75,284 2,176,177 99,522 111,751 233,260 236,613 211,114 52,478 32,894 62,053 162,992 487,656

U.S. Treasury securities 2,270,399 43,362 1,253,436 57,323 64,367 134,353 136,285 121,598 30,227 18,946 35,741 93,881 280,880

Bills2 53 1 29 1 2 3 3 3 1 0 1 2 7

Notes and bonds3 2,270,346 43,361 1,253,407 57,321 64,365 134,350 136,282 121,595 30,226 18,946 35,741 93,878 280,874

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

Mortgage-backed securities4 1,668,989 31,876 921,411 42,138 47,316 98,764 100,184 89,387 22,220 13,928 26,274 69,012 206,477

Unamortized premiums on securities 

held outright5 143,237 2,736 79,078 3,616 4,061 8,476 8,598 7,671 1,907 1,195 2,255 5,923 17,720

Unamortized discounts on securities 

held outright5 -13,540 -259 -7,475 -342 -384 -801 -813 -725 -180 -113 -213 -560 -1,675

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

Loans 230 0 3 0 0 2 12 15 79 60 12 0 47

Net portfolio holdings of Maiden

Lane LLC7 7 0 7 0 0 0 0 0 0 0 0 0 0

Items in process of collection 146 0 0 0 0 0 145 0 0 0 0 0 0

Bank premises 2,210 108 464 82 117 195 206 195 106 95 233 220 189

Central bank liquidity swaps8 80 3 25 5 6 17 5 3 1 0 1 1 12

Foreign currency denominated

assets9 20,626 877 6,513 1,171 1,664 4,452 1,191 874 297 95 204 255 3,034

Other assets10 26,964 553 14,461 676 781 1,794 1,621 1,420 456 286 496 1,114 3,305

Interdistrict settlement account 0 + 8,279 - 5,577 - 5,087 + 4,753 - 27,719 + 35,066 + 1,206 + 4,535 + 2,292 - 3,870 + 12,079 - 25,955

Total assets 4,139,731 88,188 2,269,156 100,359 123,649 221,098 284,971 223,225 60,194 37,137 61,737 183,411 486,606

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, October 31, 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 1,849,591 58,382 613,093 54,856 88,602 125,701 263,263 120,856 55,733 31,430 49,849 150,316 237,510

Less: Notes held by F.R. Banks 201,424 6,483 58,400 7,218 9,408 14,293 30,823 12,955 5,636 3,042 5,869 17,384 29,914

Federal Reserve notes, net 1,648,166 51,899 554,693 47,638 79,193 111,408 232,440 107,902 50,096 28,388 43,980 132,932 207,597

Reverse repurchase agreements11 236,530 4,517 130,583 5,972 6,706 13,997 14,198 12,668 3,149 1,974 3,724 9,780 29,262

Deposits 2,210,082 29,957 1,569,636 44,286 34,396 86,774 35,560 100,704 6,202 5,557 13,491 39,962 243,558

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 1,771,541 29,927 1,176,957 44,283 34,315 86,261 35,438 55,990 6,194 5,502 13,293 39,830 243,551

U.S. Treasury, General Account 366,596 0 366,596 0 0 0 0 0 0 0 0 0 0

Foreign official 5,257 2 5,229 2 3 9 2 2 1 0 0 0 6

Other12 66,688 29 20,853 1 77 504 119 44,713 7 55 198 132 2

Deferred availability cash items 1,022 0 0 0 0 0 132 0 0 890 0 0 0

Earnings remittances due to the U.S.

Treasury13 764 16 377 14 23 26 82 40 15 9 23 49 90

Other liabilities and accrued

dividends 4,069 164 1,428 193 204 529 301 272 142 141 141 206 349

Total liabilities 4,100,634 86,554 2,256,716 98,103 120,522 212,734 282,713 221,587 59,605 36,959 61,358 182,928 480,856

Capital

Capital paid in 32,271 1,343 10,289 1,868 2,576 6,890 1,864 1,349 491 146 312 398 4,745

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

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

Total liabilities and capital 4,139,731 88,188 2,269,156 100,359 123,649 221,098 284,971 223,225 60,194 37,137 61,737 183,411 486,606

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, October 31, 2018 (continued)

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

2. Face value of the securities.

3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

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

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal

agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Refer to table 4 and the note on consolidation below.

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

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

9. Revalued daily at current foreign currency exchange rates.

10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

Note on consolidation:

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

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

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

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

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

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

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 31, 2018

Federal Reserve notes outstanding 1,849,591

Less: Notes held by F.R. Banks not subject to collateralization 201,424

Federal Reserve notes to be collateralized 1,648,166

Collateral held against Federal Reserve notes 1,648,166

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,631,929

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 3,941,797

Less: Face value of securities under reverse repurchase agreements 237,688

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,704,108

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.