FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 24, 2015

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 23, 2015 Dec 16, 2015 Dec 24, 2014

Wednesday

Dec 23, 2015

Reserve Bank credit 4,460,788 + 6,308 - 10,780 4,458,298

Securities held outright1 4,254,758 + 4,558 + 4,806 4,252,267

U.S. Treasury securities 2,461,570 - 12 + 118 2,461,566

Bills2 0 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 73 2,346,639

Notes and bonds, inflation-indexed2 98,534 0 + 65 98,534

Inflation compensation3 16,397 - 12 + 126 16,393

Federal agency debt securities2 32,944 0 - 5,733 32,944

Mortgage-backed securities4 1,760,243 + 4,569 + 10,421 1,757,757

Unamortized premiums on securities held outright5 190,471 - 162 - 17,290 190,224

Unamortized discounts on securities held outright5 -16,621 + 34 + 1,820 -16,609

Repurchase agreements6 0 0 0 0

Loans 99 + 28 - 13 73

Primary credit 31 + 25 - 1 2

Secondary credit 0 0 0 0

Seasonal credit 68 + 3 - 12 71

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,716 + 1 + 38 1,715

Float -64 - 21 + 409 -288

Central bank liquidity swaps8 926 + 788 + 896 926

Other Federal Reserve assets9 29,504 + 1,083 - 1,446 29,990

Foreign currency denominated assets10 19,584 - 118 - 1,547 19,609

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,553 + 14 + 1,258 47,553

Total factors supplying reserve funds 4,544,166 + 6,205 - 11,068 4,541,701

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 23, 2015 Dec 16, 2015 Dec 24, 2014

Wednesday

Dec 23, 2015

Currency in circulation11 1,416,675 + 4,054 + 83,818 1,421,758

Reverse repurchase agreements12 358,904 + 63,802 + 78,457 389,586

Foreign official and international accounts 207,598 + 3,704 + 109,324 211,254

Others 151,307 + 60,099 - 30,866 178,332

Treasury cash holdings 251 + 5 + 60 254

Deposits with F.R. Banks, other than reserve balances 292,703 + 66,150 + 97,158 293,235

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 267,608 + 71,265 + 92,515 266,131

Foreign official 5,231 - 90 + 18 5,230

Other13 19,863 - 5,026 + 4,624 21,874

Other liabilities and capital14 67,060 - 817 + 2,667 65,789

Total factors, other than reserve balances,

absorbing reserve funds 2,135,593 + 133,194 + 262,159 2,170,623

Reserve balances with Federal Reserve Banks 2,408,573 - 126,989 - 273,228 2,371,078

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.

14. Includes the liability for interest on Federal Reserve notes due to 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 23, 2015 Dec 16, 2015 Dec 24, 2014

Wednesday

Dec 23, 2015

Securities held in custody for foreign official and international

accounts 3,309,666 - 579 + 1,535 3,320,574

Marketable U.S. Treasury securities1 2,992,259 + 775 + 19,327 3,004,947

Federal agency debt and mortgage-backed securities2 270,824 - 1,589 - 22,564 268,953

Other securities3 46,584 + 236 + 4,773 46,674

Securities lent to dealers 14,929 + 851 + 2,553 15,301

Overnight facility4 14,929 + 851 + 2,553 15,301

U.S. Treasury securities 14,807 + 866 + 3,089 15,180

Federal agency debt securities 123 - 14 - 535 121

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 23, 2015

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 73 0 0 0 0 ... 73

U.S. Treasury securities1

Holdings 0 38,619 165,795 1,124,293 494,988 637,871 2,461,566

Weekly changes 0 0 0 - 2 - 2 - 7 - 12

Federal agency debt securities2

Holdings 0 3,687 13,077 13,833 0 2,347 32,944

Weekly changes 0 0 + 1,269 - 1,269 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 481 9,186 1,748,091 1,757,757

Weekly changes 0 0 0 0 - 1 + 4,602 + 4,600

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

Central bank liquidity swaps5 926 0 0 0 0 0 926

Reverse repurchase agreements4 389,586 0 ... ... ... ... 389,586

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 23, 2015

Mortgage-backed securities held outright1 1,757,757

Commitments to buy mortgage-backed securities2 21,455

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 42

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 23, 2015

Net portfolio holdings of Maiden Lane LLC1 1,715

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, 2015. 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 23, 2015 Dec 16, 2015 Dec 24, 2014

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,897 - 3 + 26

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,425,955 + 4,426 - 10,679

Securities held outright1 4,252,267 + 4,589 + 4,793

U.S. Treasury securities 2,461,566 - 12 + 146

Bills2 0 0 0

Notes and bonds, nominal2 2,346,639 0 - 73

Notes and bonds, inflation-indexed2 98,534 0 + 65

Inflation compensation3 16,393 - 12 + 154

Federal agency debt securities2 32,944 0 - 5,733

Mortgage-backed securities4 1,757,757 + 4,600 + 10,380

Unamortized premiums on securities held outright5 190,224 - 194 - 17,242

Unamortized discounts on securities held outright5 -16,609 + 32 + 1,816

Repurchase agreements6 0 0 0

Loans 73 - 1 - 46

Net portfolio holdings of Maiden Lane LLC7 1,715 - 1 + 37

Items in process of collection (0) 193 - 106 + 67

Bank premises 2,234 + 2 - 31

Central bank liquidity swaps8 926 + 788 + 896

Foreign currency denominated assets9 19,609 - 8 - 1,432

Other assets10 27,757 + 1,832 - 1,823

Total assets (0) 4,496,523 + 6,930 - 12,939

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 23, 2015 Dec 16, 2015 Dec 24, 2014

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,376,353 + 7,368 + 82,106

Reverse repurchase agreements11 389,586 + 82,868 + 90,753

Deposits (0) 2,664,314 - 83,177 - 188,133

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,371,079 - 88,974 - 238,556

U.S. Treasury, General Account 266,131 - 56 + 88,220

Foreign official 5,230 - 1 + 21

Other12 (0) 21,874 + 5,854 - 37,818

Deferred availability cash items (0) 482 + 149 - 176

Other liabilities and accrued dividends13 7,069 - 277 + 927

Total liabilities (0) 4,437,804 + 6,930 - 14,523

Capital accounts

Capital paid in 29,360 + 1 + 792

Surplus 29,360 + 1 + 792

Other capital accounts 0 0 0

Total capital 58,720 + 1 + 1,585

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.

13. Includes the liability for interest on Federal Reserve notes due to U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, December 23, 2015

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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370

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

Coin 1,897 46 71 131 136 301 188 281 31 48 150 196 317

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,425,955 112,194 2,656,910 110,079 106,409 240,387 249,231 164,445 46,164 26,969 57,502 142,572 513,095

Securities held outright1 4,252,267 107,793 2,552,687 105,761 102,235 230,956 239,454 157,991 44,345 25,861 55,239 136,979 492,967

U.S. Treasury securities 2,461,566 62,399 1,477,708 61,223 59,182 133,696 138,616 91,458 25,670 14,970 31,977 79,295 285,371

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

Notes and bonds3 2,461,566 62,399 1,477,708 61,223 59,182 133,696 138,616 91,458 25,670 14,970 31,977 79,295 285,371

Federal agency debt securities2 32,944 835 19,777 819 792 1,789 1,855 1,224 344 200 428 1,061 3,819

Mortgage-backed securities4 1,757,757 44,558 1,055,203 43,718 42,261 95,470 98,983 65,309 18,331 10,690 22,834 56,623 203,778

Unamortized premiums on securities 

held outright5 190,224 4,822 114,194 4,731 4,573 10,332 10,712 7,068 1,984 1,157 2,471 6,128 22,053

Unamortized discounts on securities 

held outright5 -16,609 -421 -9,971 -413 -399 -902 -935 -617 -173 -101 -216 -535 -1,925

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

Loans 73 0 0 0 0 1 0 3 9 52 7 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,715 0 1,715 0 0 0 0 0 0 0 0 0 0

Items in process of collection 193 0 0 0 0 0 191 0 0 2 0 0 0

Bank premises 2,234 126 438 75 106 213 207 204 118 92 239 220 197

Central bank liquidity swaps8 926 42 298 52 72 213 53 25 9 4 10 13 136

Foreign currency denominated

assets9 19,609 889 6,322 1,096 1,528 4,499 1,116 527 183 82 206 282 2,879

Other assets10 27,757 739 16,113 697 674 1,688 1,570 1,049 351 194 402 1,052 3,227

Interdistrict settlement account 0 - 9,590 - 149,174 + 5,922 + 26,422 + 18,310 + 5,758 + 22,200 + 11,887 + 6,717 + 3,799 + 17,852 + 39,896

Total assets 4,496,523 104,988 2,538,221 118,602 136,090 266,805 260,567 189,889 59,192 34,369 62,749 163,361 561,690

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 23, 2015 (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 1,552,032 49,614 499,259 49,491 83,012 106,966 219,150 103,315 51,794 26,886 40,843 125,825 195,876

Less: Notes held by F.R. Banks 175,679 5,110 66,152 5,673 8,492 11,504 21,116 9,765 4,452 2,519 4,456 13,227 23,214

Federal Reserve notes, net 1,376,353 44,504 433,108 43,818 74,520 95,462 198,034 93,550 47,342 24,367 36,388 112,598 172,662

Reverse repurchase agreements11 389,586 9,876 233,873 9,690 9,367 21,160 21,938 14,475 4,063 2,369 5,061 12,550 45,165

Deposits 2,664,314 47,781 1,848,568 61,579 47,421 136,216 36,677 79,946 7,043 6,944 20,542 37,094 334,503

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 2,371,079 47,777 1,562,880 61,577 47,418 136,060 36,668 72,597 7,034 6,944 20,540 37,091 334,492

U.S. Treasury, General Account 266,131 0 266,131 0 0 0 0 0 0 0 0 0 0

Foreign official 5,230 2 5,203 2 3 9 2 1 0 0 0 1 6

Other12 21,874 2 14,354 0 0 147 7 7,348 8 0 1 2 5

Deferred availability cash items 482 0 0 0 0 0 188 0 0 294 0 0 0

Interest on Federal Reserve notes due

to U.S. Treasury13 1,781 42 1,099 41 41 87 106 62 5 8 23 60 205

Other liabilities and accrued

dividends 5,288 177 2,285 227 245 717 347 274 133 134 125 186 438

Total liabilities 4,437,804 102,380 2,518,933 115,355 131,594 253,642 257,290 188,307 58,586 34,117 62,139 162,488 552,973

Capital

Capital paid in 29,360 1,304 9,644 1,624 2,248 6,582 1,639 791 303 126 305 436 4,359

Surplus 29,360 1,304 9,644 1,624 2,248 6,582 1,639 791 303 126 305 436 4,359

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

Total liabilities and capital 4,496,523 104,988 2,538,221 118,602 136,090 266,805 260,567 189,889 59,192 34,369 62,749 163,361 561,690

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 23, 2015 (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.

13. Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank’s net earnings are not sufficient to equate surplus

to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the

Federal Reserve Bank’s earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy,

which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends,

and the amount necessary to equate surplus with capital paid-in.

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 23, 2015

Federal Reserve notes outstanding 1,552,032

Less: Notes held by F.R. Banks not subject to collateralization 175,679

Federal Reserve notes to be collateralized 1,376,353

Collateral held against Federal Reserve notes 1,376,353

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,360,116

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,252,267

Less: Face value of securities under reverse repurchase agreements 367,501

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,884,766

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.