FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 14, 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

Jun 13, 2018 Jun 6, 2018 Jun 14, 2017

Wednesday

Jun 13, 2018

Reserve Bank credit 4,281,633 + 3,040 - 146,179 4,285,282

Securities held outright1 4,117,388 + 579 - 130,206 4,120,141

U.S. Treasury securities 2,377,952 + 126 - 86,887 2,377,998

Bills2 0 0 0 0

Notes and bonds, nominal2 2,242,161 0 - 96,055 2,242,161

Notes and bonds, inflation-indexed2 114,860 0 + 6,734 114,860

Inflation compensation3 20,931 + 126 + 2,435 20,977

Federal agency debt securities2 4,108 - 283 - 4,410 2,409

Mortgage-backed securities4 1,735,328 + 736 - 38,909 1,739,733

Unamortized premiums on securities held outright5 150,916 - 207 - 15,864 150,901

Unamortized discounts on securities held outright5 -13,989 + 27 + 820 -13,985

Repurchase agreements6 0 0 0 0

Loans 123 + 16 + 51 168

Primary credit 17 0 + 10 54

Secondary credit 0 0 0 0

Seasonal credit 106 + 16 + 41 115

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,713 + 1 + 4 1,713

Float -179 + 109 + 145 -216

Central bank liquidity swaps8 91 + 20 + 55 91

Other Federal Reserve assets9 25,571 + 2,497 - 1,183 26,469

Foreign currency denominated assets10 21,350 + 62 + 631 21,302

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,657 + 14 + 713 49,657

Total factors supplying reserve funds 4,368,881 + 3,116 - 144,835 4,372,482

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

Jun 13, 2018 Jun 6, 2018 Jun 14, 2017

Wednesday

Jun 13, 2018

Currency in circulation11 1,660,963 - 268 + 106,352 1,661,773

Reverse repurchase agreements12 244,085 - 14,830 - 151,637 239,658

Foreign official and international accounts 240,763 - 4,768 + 3,018 236,633

Others 3,322 - 10,062 - 154,655 3,025

Treasury cash holdings 235 - 8 + 14 233

Deposits with F.R. Banks, other than reserve balances 360,575 - 9,384 + 120,918 361,769

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 281,188 - 12,881 + 127,542 282,968

Foreign official 5,255 - 17 + 42 5,255

Other13 74,132 + 3,514 - 6,666 73,546

Other liabilities and capital14 45,754 - 83 - 3,034 46,011

Total factors, other than reserve balances,

absorbing reserve funds 2,311,612 - 24,574 + 72,612 2,309,445

Reserve balances with Federal Reserve Banks 2,057,269 + 27,690 - 217,447 2,063,038

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

Jun 13, 2018 Jun 6, 2018 Jun 14, 2017

Wednesday

Jun 13, 2018

Securities held in custody for foreign official and international

accounts 3,401,538 + 3,242 + 131,209 3,398,821

Marketable U.S. Treasury securities1 3,038,558 + 3,496 + 92,591 3,033,810

Federal agency debt and mortgage-backed securities2 288,124 + 138 + 25,303 290,140

Other securities3 74,856 - 391 + 13,315 74,870

Securities lent to dealers 21,991 + 820 - 3,712 21,072

Overnight facility4 21,991 + 820 - 3,712 21,072

U.S. Treasury securities 21,991 + 820 - 3,711 21,072

Federal agency debt securities 0 0 - 1 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, June 13, 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 79 90 0 0 0 ... 168

U.S. Treasury securities1

Holdings 0 105,886 305,417 1,051,134 296,217 619,344 2,377,998

Weekly changes 0 + 1 + 2 + 19 + 45 + 60 + 126

Federal agency debt securities2

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

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

Mortgage-backed securities3

Holdings 0 0 0 143 40,018 1,699,572 1,739,733

Weekly changes 0 0 0 0 + 3 + 5,137 + 5,140

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

Central bank liquidity swaps5 91 0 0 0 0 0 91

Reverse repurchase agreements4 239,658 0 ... ... ... ... 239,658

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 Jun 13, 2018

Mortgage-backed securities held outright1 1,739,733

Commitments to buy mortgage-backed securities2 7,858

Commitments to sell mortgage-backed securities2 59

Cash and cash equivalents3 0

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 Jun 13, 2018

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. 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

Jun 13, 2018 Jun 6, 2018 Jun 14, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,771 + 6 - 43

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,257,225 + 3,228 - 150,605

Securities held outright1 4,120,141 + 3,285 - 135,428

U.S. Treasury securities 2,377,998 + 126 - 86,873

Bills2 0 0 0

Notes and bonds, nominal2 2,242,161 0 - 96,055

Notes and bonds, inflation-indexed2 114,860 0 + 6,734

Inflation compensation3 20,977 + 126 + 2,449

Federal agency debt securities2 2,409 - 1,982 - 5,688

Mortgage-backed securities4 1,739,733 + 5,140 - 42,868

Unamortized premiums on securities held outright5 150,901 - 126 - 16,080

Unamortized discounts on securities held outright5 -13,985 + 21 + 813

Repurchase agreements6 0 0 0

Loans 168 + 49 + 91

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 4

Items in process of collection (0) 98 + 19 + 33

Bank premises 2,188 + 1 - 9

Central bank liquidity swaps8 91 + 21 + 55

Foreign currency denominated assets9 21,302 - 25 + 433

Other assets10 24,281 + 2,465 - 1,231

Total assets (0) 4,324,906 + 5,715 - 151,363

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

Jun 13, 2018 Jun 6, 2018 Jun 14, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,614,115 - 652 + 105,554

Reverse repurchase agreements11 239,658 - 20,935 - 166,412

Deposits (0) 2,424,807 + 26,962 - 87,638

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,063,038 + 31,073 - 168,166

U.S. Treasury, General Account 282,968 - 6,486 + 119,027

Foreign official 5,255 - 5 + 3

Other12 (0) 73,546 + 2,380 - 38,501

Deferred availability cash items (0) 314 + 4 - 430

Other liabilities and accrued dividends13 6,436 + 227 - 1,173

Total liabilities (0) 4,285,331 + 5,606 - 150,099

Capital accounts

Capital paid in 32,076 + 109 + 1,236

Surplus 7,500 0 - 2,500

Other capital accounts 0 0 0

Total capital 39,576 + 109 - 1,264

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, June 13, 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 1,771 42 48 173 114 251 182 290 25 48 103 190 305

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,257,225 81,305 2,350,226 107,482 120,689 251,916 255,581 228,024 56,712 35,562 67,018 176,028 526,682

Securities held outright1 4,120,141 78,690 2,274,637 104,025 116,807 243,814 247,319 220,666 54,853 34,383 64,861 170,367 509,720

U.S. Treasury securities 2,377,998 45,417 1,312,839 60,039 67,417 140,721 142,744 127,360 31,659 19,844 37,435 98,330 294,192

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

Notes and bonds3 2,377,998 45,417 1,312,839 60,039 67,417 140,721 142,744 127,360 31,659 19,844 37,435 98,330 294,192

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

Mortgage-backed securities4 1,739,733 33,227 960,468 43,925 49,322 102,951 104,431 93,176 23,162 14,518 27,388 71,938 215,230

Unamortized premiums on securities 

held outright5 150,901 2,882 83,309 3,810 4,278 8,930 9,058 8,082 2,009 1,259 2,376 6,240 18,669

Unamortized discounts on securities 

held outright5 -13,985 -267 -7,721 -353 -396 -828 -839 -749 -186 -117 -220 -578 -1,730

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

Loans 168 0 0 0 0 0 44 25 37 37 2 0 24

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 98 0 0 0 0 0 97 0 0 0 0 0 0

Bank premises 2,188 110 443 74 119 197 202 199 107 95 234 220 190

Central bank liquidity swaps8 91 4 29 5 7 20 5 4 1 0 1 1 13

Foreign currency denominated

assets9 21,302 906 6,716 1,210 1,719 4,601 1,231 903 307 98 211 264 3,135

Other assets10 24,281 489 12,864 607 694 1,639 1,451 1,271 533 273 443 1,045 2,971

Interdistrict settlement account 0 - 323 + 60,047 - 7,412 - 3,985 - 713 + 22,075 - 12,103 - 1,439 - 1,574 - 7,195 - 6,032 - 41,344

Total assets 4,324,906 83,094 2,437,529 102,699 120,138 259,095 282,971 219,750 56,731 34,791 61,274 172,902 493,931

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, June 13, 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 1,786,435 59,253 605,217 54,044 87,633 125,443 255,466 113,441 52,047 30,413 47,121 138,619 217,739

Less: Notes held by F.R. Banks 172,320 6,023 42,702 6,635 9,517 14,009 26,559 11,980 5,326 3,170 5,628 15,978 24,793

Federal Reserve notes, net 1,614,115 53,230 562,515 47,409 78,116 111,433 228,907 101,461 46,721 27,243 41,493 122,641 192,946

Reverse repurchase agreements11 239,658 4,577 132,310 6,051 6,794 14,182 14,386 12,836 3,191 2,000 3,773 9,910 29,649

Deposits 2,424,807 23,412 1,727,435 46,695 31,795 124,323 36,830 103,397 6,046 4,989 15,443 39,546 264,894

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 2,063,038 23,381 1,417,533 46,692 31,728 123,846 36,793 52,357 6,041 4,938 15,425 39,416 264,886

U.S. Treasury, General Account 282,968 0 282,968 0 0 0 0 0 0 0 0 0 0

Foreign official 5,255 2 5,227 2 3 9 2 2 1 0 0 0 6

Other12 73,546 29 21,707 1 64 469 34 51,038 5 51 18 130 2

Deferred availability cash items 314 0 0 0 0 0 101 0 0 213 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,521 28 780 37 49 85 120 81 25 15 37 78 185

Other liabilities and accrued

dividends 4,915 185 1,915 213 225 566 354 322 151 151 146 239 448

Total liabilities 4,285,331 81,432 2,424,955 100,404 116,981 250,590 280,699 218,096 56,134 34,611 60,892 172,414 488,122

Capital

Capital paid in 32,076 1,343 10,210 1,868 2,552 6,885 1,838 1,337 488 145 308 396 4,705

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

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

Total liabilities and capital 4,324,906 83,094 2,437,529 102,699 120,138 259,095 282,971 219,750 56,731 34,791 61,274 172,902 493,931

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, June 13, 2018 (continued)

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

2. Face value of the securities.

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

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

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

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

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

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

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

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

9. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $7.5 billion surplus.

Note on consolidation:

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

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

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

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

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

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

and table 5).
H.4.1

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 13, 2018

Federal Reserve notes outstanding 1,786,435

Less: Notes held by F.R. Banks not subject to collateralization 172,320

Federal Reserve notes to be collateralized 1,614,115

Collateral held against Federal Reserve notes 1,614,115

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,597,879

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,120,141

Less: Face value of securities under reverse repurchase agreements 233,727

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,886,413

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.