FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 19, 2016

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

May 18, 2016 May 11, 2016 May 20, 2015

Wednesday

May 18, 2016

Reserve Bank credit 4,447,026 + 8,858 + 3,841 4,434,411

Securities held outright1 4,245,664 + 12,178 + 12,413 4,241,550

U.S. Treasury securities 2,461,678 + 116 + 1,248 2,461,721

Bills2 0 0 0 0

Notes and bonds, nominal2 2,342,292 0 - 4,351 2,342,292

Notes and bonds, inflation-indexed2 103,134 0 + 4,600 103,134

Inflation compensation3 16,253 + 116 + 999 16,295

Federal agency debt securities2 26,810 - 286 - 9,085 25,096

Mortgage-backed securities4 1,757,176 + 12,349 + 20,250 1,754,733

Unamortized premiums on securities held outright5 183,282 + 57 - 17,311 183,091

Unamortized discounts on securities held outright5 -16,081 - 18 + 1,651 -16,135

Repurchase agreements6 0 0 - 120 0

Loans 77 - 8 - 16 74

Primary credit 7 - 21 + 3 6

Secondary credit 0 0 0 0

Seasonal credit 69 + 12 - 20 69

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,713 - 1 + 16 1,713

Float -180 - 17 + 244 -211

Central bank liquidity swaps8 1,006 + 835 + 1,006 1,006

Other Federal Reserve assets9 31,545 - 4,168 + 5,960 23,324

Foreign currency denominated assets10 20,930 - 226 + 780 20,844

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,805 + 14 + 970 47,805

Total factors supplying reserve funds 4,532,002 + 8,646 + 5,591 4,519,301

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

May 18, 2016 May 11, 2016 May 20, 2015

Wednesday

May 18, 2016

Currency in circulation11 1,451,450 + 40 + 87,256 1,452,431

Reverse repurchase agreements12 276,918 + 9,018 + 20,893 312,871

Foreign official and international accounts 249,594 + 10,396 + 95,270 248,951

Others 27,324 - 1,377 - 74,376 63,920

Treasury cash holdings 107 - 22 - 88 102

Deposits with F.R. Banks, other than reserve balances 339,515 - 14,227 + 135,022 307,598

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 295,339 - 20,030 + 113,698 277,289

Foreign official 5,188 + 14 - 51 5,203

Other13 38,988 + 5,789 + 21,374 25,107

Other liabilities and capital14 47,798 - 698 - 18,588 46,669

Total factors, other than reserve balances,

absorbing reserve funds 2,115,788 - 5,889 + 224,495 2,119,672

Reserve balances with Federal Reserve Banks 2,416,214 + 14,534 - 218,904 2,399,629

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

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

2. Face value of the securities.

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

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

the securities.

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

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

6. Cash value of agreements.

7. Refer to table 4 and the note on consolidation accompanying table 6.

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

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

foreign central bank.

9. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Also, includes Reserve

Bank premises and equipment net of allowances for depreciation.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated

financial market utilities. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve

Banks as fiscal agents of the United States.

14. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

May 18, 2016 May 11, 2016 May 20, 2015

Wednesday

May 18, 2016

Securities held in custody for foreign official and international

accounts 3,219,872 + 254 - 104,756 3,218,537

Marketable U.S. Treasury securities1 2,904,233 - 1,736 - 85,540 2,902,033

Federal agency debt and mortgage-backed securities2 266,687 + 1,959 - 22,681 267,892

Other securities3 48,953 + 33 + 3,466 48,612

Securities lent to dealers 16,632 - 560 + 4,737 20,464

Overnight facility4 16,632 - 560 + 4,737 20,464

U.S. Treasury securities 16,616 - 551 + 4,988 20,455

Federal agency debt securities 15 - 9 - 251 9

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, May 18, 2016

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans 53 22 0 0 0 ... 74

U.S. Treasury securities1

Holdings 25,248 30,727 135,438 1,193,128 441,214 635,967 2,461,721

Weekly changes + 11,227 - 18,894 + 14,137 + 28,435 - 38,251 + 3,464 + 116

Federal agency debt securities2

Holdings 0 2,604 13,658 6,487 0 2,347 25,096

Weekly changes - 2,000 0 + 1,500 - 1,500 0 0 - 2,000

Mortgage-backed securities3

Holdings 0 0 0 906 9,358 1,744,468 1,754,733

Weekly changes 0 0 0 + 10 + 455 + 9,440 + 9,906

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

Central bank liquidity swaps5 1,006 0 0 0 0 0 1,006

Reverse repurchase agreements4 312,871 0 ... ... ... ... 312,871

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 May 18, 2016

Mortgage-backed securities held outright1 1,754,733

Commitments to buy mortgage-backed securities2 29,601

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 1

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 May 18, 2016

Net portfolio holdings of Maiden Lane LLC1 1,713

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 March 31, 2016. Any assets purchased after this

valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

May 18, 2016 May 11, 2016 May 20, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,858 - 19 + 42

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,408,580 + 7,932 - 8,724

Securities held outright1 4,241,550 + 8,022 + 7,706

U.S. Treasury securities 2,461,721 + 116 + 1,235

Bills2 0 0 0

Notes and bonds, nominal2 2,342,292 0 - 4,351

Notes and bonds, inflation-indexed2 103,134 0 + 4,600

Inflation compensation3 16,295 + 116 + 986

Federal agency debt securities2 25,096 - 2,000 - 10,799

Mortgage-backed securities4 1,754,733 + 9,906 + 17,270

Unamortized premiums on securities held outright5 183,091 - 12 - 17,373

Unamortized discounts on securities held outright5 -16,135 - 84 + 1,584

Repurchase agreements6 0 0 - 620

Loans 74 + 6 - 21

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 16

Items in process of collection (0) 179 + 44 + 98

Bank premises 2,220 + 1 - 21

Central bank liquidity swaps8 1,006 + 1,006 + 1,006

Foreign currency denominated assets9 20,844 - 276 + 1,048

Other assets10 21,104 - 13,359 - 109

Total assets (0) 4,473,741 - 4,670 - 6,643

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

May 18, 2016 May 11, 2016 May 20, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,406,583 - 234 + 85,147

Reverse repurchase agreements11 312,871 + 43,282 + 4,611

Deposits (0) 2,707,228 - 47,313 - 77,879

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,399,629 - 10,139 - 188,517

U.S. Treasury, General Account 277,289 - 28,553 + 103,540

Foreign official 5,203 + 29 - 28

Other12 (0) 25,107 - 8,650 + 7,125

Deferred availability cash items (0) 391 + 67 - 106

Other liabilities and accrued dividends13 6,601 - 497 - 384

Total liabilities (0) 4,433,673 - 4,696 + 11,389

Capital accounts

Capital paid in 30,068 + 26 + 1,018

Surplus 10,000 0 - 19,050

Other capital accounts 0 0 0

Total capital 40,068 + 26 - 18,033

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

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

2. Face value of the securities.

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

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

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

amortized. For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities,

amortization is on an effective-interest basis.

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

7. Refer to table 4 and the note on consolidation accompanying table 6.

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

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

central bank.

9. Revalued daily at current foreign currency exchange rates.

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

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

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

financial market utilities. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the

Reserve Banks as fiscal agents of the United States.

13. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, May 18, 2016

Millions of dollars

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

Assets

Gold certificate account 11,037 355 3,588 359 586 760 1,541 753 360 193 296 875 1,371

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

Coin 1,858 52 69 129 135 297 179 276 22 55 147 184 313

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,408,580 108,296 2,508,735 119,701 132,027 269,420 246,740 175,668 55,669 32,516 61,368 156,920 541,519

Securities held outright1 4,241,550 104,195 2,413,726 115,167 127,027 259,217 237,396 169,004 53,532 31,271 59,031 150,977 521,006

U.S. Treasury securities 2,461,721 60,473 1,400,884 66,841 73,724 150,445 137,780 98,087 31,069 18,149 34,261 87,624 302,383

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

Notes and bonds3 2,461,721 60,473 1,400,884 66,841 73,724 150,445 137,780 98,087 31,069 18,149 34,261 87,624 302,383

Federal agency debt securities2 25,096 616 14,281 681 752 1,534 1,405 1,000 317 185 349 893 3,083

Mortgage-backed securities4 1,754,733 43,105 998,561 47,645 52,551 107,238 98,211 69,917 22,146 12,937 24,421 62,459 215,541

Unamortized premiums on securities 

held outright5 183,091 4,498 104,191 4,971 5,483 11,189 10,247 7,295 2,311 1,350 2,548 6,517 22,490

Unamortized discounts on securities 

held outright5 -16,135 -396 -9,182 -438 -483 -986 -903 -643 -204 -119 -225 -574 -1,982

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

Loans 74 0 0 0 0 0 0 12 30 14 14 0 5

Net portfolio holdings of Maiden

Lane LLC7 1,713 0 1,713 0 0 0 0 0 0 0 0 0 0

Items in process of collection 179 0 0 0 0 0 179 0 0 0 0 0 0

Bank premises 2,220 121 430 74 105 209 207 203 116 90 241 225 198

Central bank liquidity swaps8 1,006 44 332 55 77 224 56 27 10 4 10 13 153

Foreign currency denominated

assets9 20,844 921 6,879 1,147 1,587 4,648 1,157 559 214 89 208 264 3,171

Other assets10 21,104 560 11,501 581 638 1,462 1,191 847 364 183 348 824 2,605

Interdistrict settlement account 0 - 26,380 + 47,996 - 1,543 - 11,214 - 30,372 + 7,085 + 2,586 + 138 - 966 - 3,622 + 10,872 + 5,420

Total assets 4,473,741 84,166 2,583,061 120,713 124,178 247,059 258,989 181,343 57,043 32,255 59,151 170,460 555,323

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, May 18, 2016 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes outstanding 1,576,781 49,141 503,214 49,369 81,785 108,913 222,626 106,260 50,951 27,316 40,167 131,272 205,768

Less: Notes held by F.R. Banks 170,199 5,162 55,843 5,639 8,904 11,988 23,940 9,915 4,982 2,590 5,017 13,158 23,061

Federal Reserve notes, net 1,406,583 43,978 447,371 43,731 72,880 96,925 198,686 96,345 45,969 24,726 35,150 118,114 182,708

Reverse repurchase agreements11 312,871 7,686 178,045 8,495 9,370 19,121 17,511 12,466 3,949 2,307 4,354 11,137 38,431

Deposits 2,707,228 30,569 1,941,158 66,097 38,670 121,644 40,084 70,722 6,553 4,588 19,104 40,427 327,612

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 2,399,629 30,557 1,641,156 66,095 38,667 121,428 40,075 63,390 6,545 4,588 19,103 40,426 327,600

U.S. Treasury, General Account 277,289 0 277,289 0 0 0 0 0 0 0 0 0 0

Foreign official 5,203 2 5,176 2 3 9 2 1 0 0 0 1 6

Other12 25,107 11 17,537 0 0 207 7 7,331 7 0 1 1 5

Deferred availability cash items 391 0 0 0 0 0 70 0 0 321 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,571 30 969 33 36 46 94 64 21 12 18 66 182

Other liabilities and accrued

dividends 5,030 160 2,384 197 201 521 327 258 133 131 127 207 383

Total liabilities 4,433,673 82,424 2,569,926 118,553 121,157 238,255 256,773 179,855 56,625 32,085 58,754 169,950 549,316

Capital

Capital paid in 30,068 1,300 9,836 1,609 2,260 6,574 1,661 1,220 316 128 296 383 4,486

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

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

Total liabilities and capital 4,473,741 84,166 2,583,061 120,713 124,178 247,059 258,989 181,343 57,043 32,255 59,151 170,460 555,323

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, May 18, 2016 (continued)

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

2. Face value of the securities.

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

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

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

agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis.

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

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

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

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

deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $10 billion surplus.

Note on consolidation:

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

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

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

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

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

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

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral May 18, 2016

Federal Reserve notes outstanding 1,576,781

Less: Notes held by F.R. Banks not subject to collateralization 170,199

Federal Reserve notes to be collateralized 1,406,583

Collateral held against Federal Reserve notes 1,406,583

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,390,346

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,241,550

Less: Face value of securities under reverse repurchase agreements 290,410

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,951,139

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.