FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 7, 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 6, 2017 Nov 29, 2017 Dec 7, 2016

Wednesday

Dec 6, 2017

Reserve Bank credit 4,396,552 - 9,346 - 12,906 4,397,213

Securities held outright1 4,225,967 - 9,047 + 2,971 4,225,961

U.S. Treasury securities 2,454,481 - 2,419 - 9,345 2,454,474

Bills2 0 0 0 0

Notes and bonds, nominal2 2,324,604 - 3,094 - 14,842 2,324,604

Notes and bonds, inflation-indexed2 110,134 + 597 + 3,437 110,134

Inflation compensation3 19,743 + 77 + 2,060 19,736

Federal agency debt securities2 4,391 0 - 14,102 4,391

Mortgage-backed securities4 1,767,095 - 6,628 + 26,418 1,767,096

Unamortized premiums on securities held outright5 159,986 - 477 - 14,580 159,883

Unamortized discounts on securities held outright5 -14,230 + 6 + 979 -14,219

Repurchase agreements6 0 0 - 8 0

Loans 42 - 8 + 5 43

Primary credit 5 - 1 - 9 5

Secondary credit 0 0 0 0

Seasonal credit 37 - 7 + 15 37

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,711 + 1 + 4 1,711

Float -391 + 56 + 5 -578

Central bank liquidity swaps8 35 0 - 1,294 35

Other Federal Reserve assets9 23,431 + 122 - 988 24,378

Foreign currency denominated assets10 21,282 - 74 + 1,390 21,174

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,301 + 14 + 812 49,301

Total factors supplying reserve funds 4,483,376 - 9,406 - 10,704 4,483,930

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 6, 2017 Nov 29, 2017 Dec 7, 2016

Wednesday

Dec 6, 2017

Currency in circulation11 1,599,548 + 333 + 104,975 1,602,906

Reverse repurchase agreements12 299,815 + 21,529 - 115,867 303,714

Foreign official and international accounts 228,835 - 2,261 - 15,049 227,346

Others 70,980 + 23,790 - 100,818 76,368

Treasury cash holdings 201 - 2 + 39 199

Deposits with F.R. Banks, other than reserve balances 210,427 - 61,358 - 182,243 203,711

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 127,586 - 44,696 - 215,769 122,127

Foreign official 5,168 + 2 + 1 5,168

Other13 77,673 - 16,663 + 33,525 76,416

Other liabilities and capital14 48,295 - 103 + 1,281 48,105

Total factors, other than reserve balances,

absorbing reserve funds 2,158,286 - 39,600 - 191,815 2,158,636

Reserve balances with Federal Reserve Banks 2,325,090 + 30,195 + 181,111 2,325,293

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 6, 2017 Nov 29, 2017 Dec 7, 2016

Wednesday

Dec 6, 2017

Securities held in custody for foreign official and international

accounts 3,390,157 + 2,854 + 251,219 3,392,716

Marketable U.S. Treasury securities1 3,047,883 + 199 + 234,450 3,050,251

Federal agency debt and mortgage-backed securities2 264,315 + 527 - 1,213 264,312

Other securities3 77,959 + 2,128 + 17,983 78,153

Securities lent to dealers 19,843 - 1,320 - 6,230 23,171

Overnight facility4 19,843 - 1,320 - 6,230 23,171

U.S. Treasury securities 19,843 - 1,320 - 6,204 23,171

Federal agency debt securities 0 0 - 27 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 6, 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 10 32 0 0 0 ... 43

U.S. Treasury securities1

Holdings 0 97,060 328,413 1,095,454 310,425 623,122 2,454,474

Weekly changes - 7,869 + 32,047 - 7,130 - 21,660 + 2,123 + 4 - 2,485

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 1 159 20,431 1,746,504 1,767,096

Weekly changes 0 0 0 + 3 + 152 - 154 + 1

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

Central bank liquidity swaps5 35 0 0 0 0 0 35

Reverse repurchase agreements4 303,714 0 ... ... ... ... 303,714

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 6, 2017

Mortgage-backed securities held outright1 1,767,096

Commitments to buy mortgage-backed securities2 28,371

Commitments to sell mortgage-backed securities2 168

Cash and cash equivalents3 5

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 6, 2017

Net portfolio holdings of Maiden Lane LLC1 1,711

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 6, 2017 Nov 29, 2017 Dec 7, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,867 + 34 + 18

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,371,667 - 2,782 - 10,391

Securities held outright1 4,225,961 - 2,483 + 3,295

U.S. Treasury securities 2,454,474 - 2,485 - 9,022

Bills2 0 0 0

Notes and bonds, nominal2 2,324,604 - 3,094 - 14,499

Notes and bonds, inflation-indexed2 110,134 + 597 + 3,437

Inflation compensation3 19,736 + 12 + 2,040

Federal agency debt securities2 4,391 0 - 14,102

Mortgage-backed securities4 1,767,096 + 1 + 26,419

Unamortized premiums on securities held outright5 159,883 - 280 - 14,567

Unamortized discounts on securities held outright5 -14,219 + 6 + 978

Repurchase agreements6 0 0 - 59

Loans 43 - 24 - 36

Net portfolio holdings of Maiden Lane LLC7 1,711 + 2 + 4

Items in process of collection (0) 79 + 22 + 2

Bank premises 2,210 - 1 + 11

Central bank liquidity swaps8 35 0 - 1,294

Foreign currency denominated assets9 21,174 - 122 + 1,192

Other assets10 22,169 + 1,403 - 1,012

Total assets (0) 4,437,148 - 1,444 - 11,470

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 6, 2017 Nov 29, 2017 Dec 7, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,555,667 + 2,961 + 104,760

Reverse repurchase agreements11 303,714 + 9,070 - 119,834

Deposits (0) 2,529,004 - 13,508 + 2,445

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,325,294 + 54,121 + 191,692

U.S. Treasury, General Account 122,127 - 56,558 - 221,905

Foreign official 5,168 + 1 + 1

Other12 (0) 76,416 - 11,072 + 32,658

Deferred availability cash items (0) 657 - 847 + 193

Other liabilities and accrued dividends13 6,787 + 879 + 46

Total liabilities (0) 4,395,830 - 1,444 - 12,389

Capital accounts

Capital paid in 31,318 0 + 919

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 41,318 0 + 919

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 6, 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 1,867 46 46 186 144 273 195 293 35 52 106 189 301

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,371,667 85,175 2,461,626 112,873 126,773 256,136 257,330 183,873 58,300 34,098 62,009 175,014 558,459

Securities held outright1 4,225,961 82,337 2,379,604 109,112 122,549 247,601 248,756 177,738 56,352 32,948 59,934 169,178 539,851

U.S. Treasury securities 2,454,474 47,822 1,382,094 63,373 71,178 143,809 144,479 103,232 32,730 19,136 34,810 98,260 313,550

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

Notes and bonds3 2,454,474 47,822 1,382,094 63,373 71,178 143,809 144,479 103,232 32,730 19,136 34,810 98,260 313,550

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

Mortgage-backed securities4 1,767,096 34,430 995,037 45,626 51,244 103,535 104,018 74,322 23,564 13,777 25,062 70,742 225,740

Unamortized premiums on securities 

held outright5 159,883 3,115 90,029 4,128 4,636 9,368 9,411 6,724 2,132 1,247 2,268 6,401 20,424

Unamortized discounts on securities 

held outright5 -14,219 -277 -8,006 -367 -412 -833 -837 -598 -190 -111 -202 -569 -1,816

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

Loans 43 0 0 0 0 0 0 8 5 15 9 5 1

Net portfolio holdings of Maiden

Lane LLC7 1,711 0 1,711 0 0 0 0 0 0 0 0 0 0

Items in process of collection 79 0 0 0 0 0 78 0 0 0 0 0 0

Bank premises 2,210 115 443 72 130 197 203 204 110 88 236 219 192

Central bank liquidity swaps8 35 2 11 2 3 8 2 1 0 0 0 0 5

Foreign currency denominated

assets9 21,174 918 6,782 1,138 1,725 4,575 1,235 886 232 89 206 271 3,118

Other assets10 22,169 470 11,986 562 648 1,491 1,320 929 501 186 374 905 2,797

Interdistrict settlement account 0 - 255 - 63,696 - 3,456 + 5,626 + 269 + 12,777 + 51,085 - 733 + 2,963 + 7,667 + 6,373 - 18,622

Total assets 4,437,148 87,017 2,424,318 111,936 135,839 264,137 275,315 238,434 58,936 37,758 71,043 184,169 548,247

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 6, 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 1,742,521 57,129 576,845 54,508 84,200 119,974 241,405 116,564 52,201 31,150 48,046 141,305 219,194

Less: Notes held by F.R. Banks 186,854 6,448 53,324 6,779 9,283 13,573 25,898 11,775 5,496 3,066 5,767 17,197 28,248

Federal Reserve notes, net 1,555,667 50,681 523,521 47,729 74,917 106,400 215,508 104,789 46,705 28,085 42,279 124,108 190,946

Reverse repurchase agreements11 303,714 5,917 171,019 7,842 8,807 17,795 17,878 12,774 4,050 2,368 4,307 12,159 38,798

Deposits 2,529,004 28,455 1,713,415 53,808 48,501 130,346 39,020 118,766 7,512 6,395 23,883 47,108 311,795

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 2,325,294 28,449 1,566,758 53,806 48,498 130,031 39,011 62,065 7,505 6,395 23,882 47,106 311,788

U.S. Treasury, General Account 122,127 0 122,127 0 0 0 0 0 0 0 0 0 0

Foreign official 5,168 2 5,141 2 3 9 2 2 0 0 0 1 6

Other12 76,416 5 19,388 0 0 307 7 56,699 7 0 1 1 1

Deferred availability cash items 657 0 0 0 0 0 84 0 0 572 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,407 34 800 30 37 70 97 49 23 12 14 64 177

Other liabilities and accrued

dividends 5,380 160 2,473 208 227 584 330 307 149 140 151 215 438

Total liabilities 4,395,830 85,247 2,411,228 109,616 132,489 255,195 272,918 236,684 58,439 37,571 70,635 183,653 542,155

Capital

Capital paid in 31,318 1,336 9,888 1,783 2,535 6,781 1,814 1,331 387 144 311 388 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 4,437,148 87,017 2,424,318 111,936 135,839 264,137 275,315 238,434 58,936 37,758 71,043 184,169 548,247

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 6, 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 6, 2017

Federal Reserve notes outstanding 1,742,521

Less: Notes held by F.R. Banks not subject to collateralization 186,854

Federal Reserve notes to be collateralized 1,555,667

Collateral held against Federal Reserve notes 1,555,667

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,539,430

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,225,961

Less: Face value of securities under reverse repurchase agreements 297,338

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,928,623

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.