FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 28, 2017

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 27, 2017 Dec 20, 2017 Dec 28, 2016

Wednesday

Dec 27, 2017

Reserve Bank credit 4,417,716 + 9,424 - 9,508 4,408,906

Securities held outright1 4,231,118 - 2,891 - 2,273 4,223,535

U.S. Treasury securities 2,454,224 - 20 - 9,367 2,454,219

Bills2 0 0 0 0

Notes and bonds, nominal2 2,324,404 0 - 14,699 2,324,404

Notes and bonds, inflation-indexed2 110,134 0 + 3,437 110,134

Inflation compensation3 19,686 - 20 + 1,895 19,680

Federal agency debt securities2 4,391 0 - 11,789 4,391

Mortgage-backed securities4 1,772,503 - 2,871 + 18,883 1,764,926

Unamortized premiums on securities held outright5 159,236 - 459 - 14,348 158,921

Unamortized discounts on securities held outright5 -14,132 + 34 + 972 -14,121

Repurchase agreements6 0 0 0 0

Loans 62 - 48 + 18 141

Primary credit 30 - 47 + 15 108

Secondary credit 0 0 0 0

Seasonal credit 33 0 + 4 33

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,712 0 + 5 1,712

Float -179 + 36 + 107 -334

Central bank liquidity swaps8 12,008 + 11,951 + 7,182 12,008

Other Federal Reserve assets9 27,890 + 801 - 1,171 27,044

Foreign currency denominated assets10 21,179 + 19 + 1,812 21,229

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,360 + 14 + 836 49,360

Total factors supplying reserve funds 4,504,495 + 9,457 - 6,861 4,495,736

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 27, 2017 Dec 20, 2017 Dec 28, 2016

Wednesday

Dec 27, 2017

Currency in circulation11 1,612,112 + 8,098 + 106,050 1,616,323

Reverse repurchase agreements12 355,018 + 26,391 - 185,531 386,791

Foreign official and international accounts 235,076 + 7,275 - 12,204 239,042

Others 119,942 + 19,116 - 173,327 147,749

Treasury cash holdings 194 - 10 + 30 214

Deposits with F.R. Banks, other than reserve balances 287,888 + 43,614 - 177,183 268,636

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 190,283 + 34,671 - 190,396 186,486

Foreign official 5,253 - 44 + 87 5,254

Other13 92,352 + 8,987 + 13,125 76,897

Other liabilities and capital14 47,859 - 897 + 905 47,319

Total factors, other than reserve balances,

absorbing reserve funds 2,303,070 + 77,196 - 255,730 2,319,283

Reserve balances with Federal Reserve Banks 2,201,425 - 67,739 + 248,870 2,176,452

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

Dec 27, 2017 Dec 20, 2017 Dec 28, 2016

Wednesday

Dec 27, 2017

Securities held in custody for foreign official and international

accounts 3,361,999 - 10,658 + 182,122 3,361,720

Marketable U.S. Treasury securities1 3,021,289 - 9,690 + 162,346 3,021,419

Federal agency debt and mortgage-backed securities2 262,766 - 840 + 1,227 262,408

Other securities3 77,944 - 128 + 18,549 77,893

Securities lent to dealers 23,507 + 1,872 + 1,520 22,804

Overnight facility4 23,507 + 1,872 + 1,520 22,804

U.S. Treasury securities 23,507 + 1,872 + 1,536 22,804

Federal agency debt securities 0 0 - 16 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, December 27, 2017

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 141 0 0 0 0 ... 141

U.S. Treasury securities1

Holdings 17,504 79,555 328,412 1,095,446 310,412 622,890 2,454,219

Weekly changes 0 - 1 0 - 3 - 4 - 11 - 18

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 1 173 20,013 1,744,739 1,764,926

Weekly changes 0 0 0 - 5 - 354 - 10,167 - 10,525

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

Central bank liquidity swaps5 12,008 0 0 0 0 0 12,008

Reverse repurchase agreements4 386,791 0 ... ... ... ... 386,791

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 27, 2017

Mortgage-backed securities held outright1 1,764,926

Commitments to buy mortgage-backed securities2 18,733

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 22

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 27, 2017

Net portfolio holdings of Maiden Lane LLC1 1,712

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

Dec 27, 2017 Dec 20, 2017 Dec 28, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,885 - 7 + 11

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,368,476 - 11,081 - 10,757

Securities held outright1 4,223,535 - 10,544 + 2,367

U.S. Treasury securities 2,454,219 - 18 - 9,382

Bills2 0 0 0

Notes and bonds, nominal2 2,324,404 0 - 14,699

Notes and bonds, inflation-indexed2 110,134 0 + 3,437

Inflation compensation3 19,680 - 19 + 1,879

Federal agency debt securities2 4,391 0 - 11,789

Mortgage-backed securities4 1,764,926 - 10,525 + 23,539

Unamortized premiums on securities held outright5 158,921 - 598 - 14,188

Unamortized discounts on securities held outright5 -14,121 + 32 + 971

Repurchase agreements6 0 0 0

Loans 141 + 29 + 94

Net portfolio holdings of Maiden Lane LLC7 1,712 0 + 5

Items in process of collection (0) 88 + 11 - 6

Bank premises 2,218 + 4 + 8

Central bank liquidity swaps8 12,008 + 11,951 + 7,182

Foreign currency denominated assets9 21,229 + 23 + 1,941

Other assets10 24,825 + 306 - 1,158

Total assets (0) 4,448,680 + 1,210 - 2,771

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 27, 2017 Dec 20, 2017 Dec 28, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,569,058 + 8,393 + 106,484

Reverse repurchase agreements11 386,791 + 36,989 - 186,966

Deposits (0) 2,445,089 - 43,431 + 77,150

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,176,452 - 60,690 + 233,469

U.S. Treasury, General Account 186,486 + 15,669 - 186,339

Foreign official 5,254 + 1 + 89

Other12 (0) 76,897 + 1,589 + 29,931

Deferred availability cash items (0) 423 + 187 - 362

Other liabilities and accrued dividends13 5,931 - 994 - 22

Total liabilities (0) 4,407,291 + 1,143 - 3,717

Capital accounts

Capital paid in 31,388 + 66 + 945

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 41,388 + 66 + 945

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, December 27, 2017

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 1,885 48 47 187 144 268 194 300 37 51 108 194 307

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,368,476 85,111 2,459,776 112,788 126,678 255,943 257,136 183,740 58,251 34,070 61,965 174,879 558,139

Securities held outright1 4,223,535 82,290 2,378,238 109,050 122,479 247,459 248,613 177,636 56,320 32,929 59,900 169,081 539,541

U.S. Treasury securities 2,454,219 47,817 1,381,950 63,367 71,170 143,794 144,464 103,221 32,726 19,134 34,807 98,250 313,517

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

Notes and bonds3 2,454,219 47,817 1,381,950 63,367 71,170 143,794 144,464 103,221 32,726 19,134 34,807 98,250 313,517

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

Mortgage-backed securities4 1,764,926 34,387 993,815 45,570 51,181 103,408 103,890 74,231 23,535 13,760 25,031 70,655 225,463

Unamortized premiums on securities 

held outright5 158,921 3,096 89,487 4,103 4,609 9,311 9,355 6,684 2,119 1,239 2,254 6,362 20,302

Unamortized discounts on securities 

held outright5 -14,121 -275 -7,951 -365 -409 -827 -831 -594 -188 -110 -200 -565 -1,804

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

Loans 141 0 2 0 0 0 0 14 0 12 12 1 100

Net portfolio holdings of Maiden

Lane LLC7 1,712 0 1,712 0 0 0 0 0 0 0 0 0 0

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

Bank premises 2,218 115 449 72 131 197 204 204 110 88 237 219 193

Central bank liquidity swaps8 12,008 521 3,845 646 978 2,595 700 503 131 51 117 154 1,768

Foreign currency denominated

assets9 21,229 920 6,800 1,141 1,729 4,587 1,238 889 232 90 206 271 3,126

Other assets10 24,825 522 13,477 633 724 1,632 1,481 1,040 396 209 417 1,155 3,139

Interdistrict settlement account 0 - 2,264 - 58,876 - 2,706 - 162 + 23,776 + 16,883 + 42,456 - 105 + 2,941 + 6,833 + 147 - 28,923

Total assets 4,448,680 85,519 2,432,638 113,320 131,012 290,187 280,099 230,293 59,543 37,780 70,327 178,217 539,744

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 27, 2017 (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 1,746,453 57,234 578,116 54,279 83,806 119,519 244,244 116,040 52,082 31,095 47,959 140,828 221,250

Less: Notes held by F.R. Banks 177,395 6,118 49,344 6,595 8,868 13,615 24,525 10,926 5,218 2,963 5,771 16,482 26,970

Federal Reserve notes, net 1,569,058 51,116 528,773 47,684 74,938 105,904 219,719 105,114 46,864 28,132 42,188 124,346 194,280

Reverse repurchase agreements11 386,791 7,536 217,799 9,987 11,217 22,662 22,768 16,268 5,158 3,016 5,486 15,484 49,411

Deposits 2,445,089 24,906 1,670,420 53,103 41,245 152,000 34,675 106,833 6,811 5,972 22,099 37,605 289,419

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 2,176,452 24,897 1,456,254 53,101 41,242 151,847 34,666 52,554 6,807 5,972 22,095 37,604 289,412

U.S. Treasury, General Account 186,486 0 186,486 0 0 0 0 0 0 0 0 0 0

Foreign official 5,254 2 5,226 2 3 9 2 2 0 0 0 1 6

Other12 76,897 7 22,454 0 0 144 7 54,277 3 0 4 0 1

Deferred availability cash items 423 0 0 0 0 0 103 0 0 320 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,179 27 613 31 40 95 92 40 13 11 6 62 151

Other liabilities and accrued

dividends 4,752 165 1,938 194 225 585 345 289 135 143 140 203 390

Total liabilities 4,407,291 83,750 2,419,542 110,999 127,664 281,245 277,702 228,544 58,981 37,594 69,919 177,701 533,651

Capital

Capital paid in 31,388 1,336 9,894 1,783 2,534 6,781 1,814 1,331 453 144 311 389 4,620

Surplus 10,000 434 3,202 538 815 2,161 583 419 109 42 97 128 1,473

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

Total liabilities and capital 4,448,680 85,519 2,432,638 113,320 131,012 290,187 280,099 230,293 59,543 37,780 70,327 178,217 539,744

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 27, 2017 (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 $10 billion surplus.

Note on consolidation:

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

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

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

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

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

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

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Dec 27, 2017

Federal Reserve notes outstanding 1,746,453

Less: Notes held by F.R. Banks not subject to collateralization 177,395

Federal Reserve notes to be collateralized 1,569,058

Collateral held against Federal Reserve notes 1,569,058

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,552,821

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,223,535

Less: Face value of securities under reverse repurchase agreements 378,882

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,844,654

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.