FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 12, 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

Apr 11, 2018 Apr 4, 2018 Apr 12, 2017

Wednesday

Apr 11, 2018

Reserve Bank credit 4,342,177 - 9,636 - 92,221 4,343,119

Securities held outright1 4,171,784 - 6,803 - 76,897 4,171,820

U.S. Treasury securities 2,413,025 - 6,803 - 51,488 2,413,060

Bills2 0 0 0 0

Notes and bonds, nominal2 2,281,885 - 6,857 - 57,395 2,281,885

Notes and bonds, inflation-indexed2 111,134 - 86 + 3,901 111,120

Inflation compensation3 20,005 + 139 + 2,005 20,055

Federal agency debt securities2 4,391 0 - 8,938 4,391

Mortgage-backed securities4 1,754,368 0 - 16,472 1,754,369

Unamortized premiums on securities held outright5 154,137 - 256 - 14,962 154,051

Unamortized discounts on securities held outright5 -14,020 - 10 + 929 -14,009

Repurchase agreements6 0 0 0 0

Loans 30 + 1 - 19 30

Primary credit 1 - 9 - 29 0

Secondary credit 0 0 0 0

Seasonal credit 29 + 10 + 11 30

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,708 0 - 9 1,709

Float -195 + 337 + 123 -178

Central bank liquidity swaps8 79 - 4,932 + 34 79

Other Federal Reserve assets9 28,653 + 2,027 - 1,421 29,618

Foreign currency denominated assets10 22,129 - 140 + 2,080 22,248

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,580 + 14 + 782 49,580

Total factors supplying reserve funds 4,430,128 - 9,761 - 89,358 4,431,188

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

Apr 11, 2018 Apr 4, 2018 Apr 12, 2017

Wednesday

Apr 11, 2018

Currency in circulation11 1,640,000 + 2,232 + 100,197 1,640,817

Reverse repurchase agreements12 247,981 - 22,082 - 113,146 245,204

Foreign official and international accounts 243,730 - 5,246 - 1,477 242,843

Others 4,250 - 16,837 - 111,671 2,361

Treasury cash holdings 319 0 + 59 309

Deposits with F.R. Banks, other than reserve balances 376,234 - 16,820 + 164,838 370,166

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 294,083 - 9,833 + 171,865 287,804

Foreign official 5,254 - 1 + 55 5,253

Other13 76,897 - 6,986 - 7,081 77,110

Other liabilities and capital14 45,630 + 991 - 2,863 45,848

Total factors, other than reserve balances,

absorbing reserve funds 2,310,162 - 35,682 + 149,082 2,302,344

Reserve balances with Federal Reserve Banks 2,119,965 + 25,920 - 238,442 2,128,844

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

Apr 11, 2018 Apr 4, 2018 Apr 12, 2017

Wednesday

Apr 11, 2018

Securities held in custody for foreign official and international

accounts 3,450,217 + 12,380 + 237,553 3,452,308

Marketable U.S. Treasury securities1 3,096,767 + 12,627 + 206,985 3,099,004

Federal agency debt and mortgage-backed securities2 273,921 - 184 + 13,367 273,921

Other securities3 79,529 - 63 + 17,202 79,384

Securities lent to dealers 20,474 - 6,444 - 1,182 18,330

Overnight facility4 20,474 - 6,444 - 1,182 18,330

U.S. Treasury securities 20,474 - 6,444 - 1,131 18,330

Federal agency debt securities 0 0 - 51 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, April 11, 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 2 28 0 0 0 ... 30

U.S. Treasury securities1

Holdings 229 119,506 290,370 1,080,029 296,322 626,605 2,413,060

Weekly changes 0 0 + 3 + 19 - 73 + 80 + 29

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 1 74 36,610 1,717,684 1,754,369

Weekly changes 0 0 0 0 0 + 1 + 1

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

Central bank liquidity swaps5 79 0 0 0 0 0 79

Reverse repurchase agreements4 245,204 0 ... ... ... ... 245,204

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 Apr 11, 2018

Mortgage-backed securities held outright1 1,754,369

Commitments to buy mortgage-backed securities2 16,819

Commitments to sell mortgage-backed securities2 158

Cash and cash equivalents3 3

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 Apr 11, 2018

Net portfolio holdings of Maiden Lane LLC1 1,709

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

Apr 11, 2018 Apr 4, 2018 Apr 12, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,823 + 1 - 76

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,311,892 - 163 - 101,449

Securities held outright1 4,171,820 + 30 - 87,146

U.S. Treasury securities 2,413,060 + 29 - 51,486

Bills2 0 0 0

Notes and bonds, nominal2 2,281,885 0 - 57,395

Notes and bonds, inflation-indexed2 111,120 - 100 + 3,887

Inflation compensation3 20,055 + 129 + 2,021

Federal agency debt securities2 4,391 0 - 8,938

Mortgage-backed securities4 1,754,369 + 1 - 26,722

Unamortized premiums on securities held outright5 154,051 - 228 - 15,241

Unamortized discounts on securities held outright5 -14,009 + 29 + 932

Repurchase agreements6 0 0 0

Loans 30 + 6 + 6

Net portfolio holdings of Maiden Lane LLC7 1,709 + 1 + 1

Items in process of collection (0) 78 + 3 - 12

Bank premises 2,199 + 1 + 1

Central bank liquidity swaps8 79 - 4,932 + 34

Foreign currency denominated assets9 22,248 + 82 + 2,133

Other assets10 27,419 + 2,588 - 1,441

Total assets (0) 4,383,684 - 2,420 - 100,808

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

Apr 11, 2018 Apr 4, 2018 Apr 12, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,593,365 + 196 + 99,027

Reverse repurchase agreements11 245,204 - 20,053 - 112,229

Deposits (0) 2,499,010 + 15,988 - 83,686

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,128,844 + 30,113 - 238,923

U.S. Treasury, General Account 287,804 - 12,800 + 168,647

Foreign official 5,253 - 1 + 79

Other12 (0) 77,110 - 1,324 - 13,488

Deferred availability cash items (0) 257 - 196 - 394

Other liabilities and accrued dividends13 6,606 + 1,600 - 2,177

Total liabilities (0) 4,344,442 - 2,466 - 99,458

Capital accounts

Capital paid in 31,742 + 46 + 1,150

Surplus 7,500 0 - 2,500

Other capital accounts 0 0 0

Total capital 39,242 + 46 - 1,350

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, April 11, 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 11,037 349 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 1,823 53 50 184 118 267 182 299 27 52 111 187 293

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,311,892 84,011 2,427,974 111,330 125,040 252,634 253,812 181,369 57,501 33,624 61,152 172,617 550,825

Securities held outright1 4,171,820 81,283 2,349,118 107,715 120,979 244,429 245,569 175,461 55,630 32,526 59,166 167,010 532,934

U.S. Treasury securities 2,413,060 47,015 1,358,774 62,304 69,977 141,383 142,042 101,490 32,178 18,813 34,223 96,602 308,259

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

Notes and bonds3 2,413,060 47,015 1,358,774 62,304 69,977 141,383 142,042 101,490 32,178 18,813 34,223 96,602 308,259

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

Mortgage-backed securities4 1,754,369 34,182 987,871 45,297 50,875 102,789 103,269 73,787 23,394 13,678 24,881 70,233 224,114

Unamortized premiums on securities 

held outright5 154,051 3,001 86,745 3,978 4,467 9,026 9,068 6,479 2,054 1,201 2,185 6,167 19,679

Unamortized discounts on securities 

held outright5 -14,009 -273 -7,888 -362 -406 -821 -825 -589 -187 -109 -199 -561 -1,790

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

Loans 30 0 0 0 0 0 0 18 3 7 0 1 1

Net portfolio holdings of Maiden

Lane LLC7 1,709 0 1,709 0 0 0 0 0 0 0 0 0 0

Items in process of collection 78 0 0 0 0 0 78 0 0 1 0 0 0

Bank premises 2,199 112 445 73 120 197 203 201 108 95 235 220 191

Central bank liquidity swaps8 79 3 25 4 6 17 5 3 1 0 1 1 12

Foreign currency denominated

assets9 22,248 947 7,015 1,264 1,796 4,806 1,285 943 321 102 220 275 3,274

Other assets10 27,419 569 14,925 705 806 1,831 1,616 1,146 447 285 461 1,154 3,474

Interdistrict settlement account 0 + 4,208 - 74,358 - 1,455 + 2,365 + 37,616 + 12,131 + 39,111 + 1,414 + 2,096 + 8,609 + 5,305 - 37,042

Total assets 4,383,684 90,448 2,383,194 112,664 131,042 298,556 271,486 224,233 60,310 36,535 71,234 180,958 523,023

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, April 11, 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 1,776,686 59,852 604,702 53,792 88,449 123,940 242,758 114,390 52,080 30,669 47,365 139,207 219,482

Less: Notes held by F.R. Banks 183,321 6,330 48,073 7,155 10,046 13,954 27,848 12,327 5,603 3,679 5,977 17,412 24,917

Federal Reserve notes, net 1,593,365 53,522 556,628 46,637 78,403 109,986 214,910 102,063 46,477 26,989 41,388 121,796 194,566

Reverse repurchase agreements11 245,204 4,777 138,072 6,331 7,111 14,367 14,434 10,313 3,270 1,912 3,478 9,816 31,324

Deposits 2,499,010 30,267 1,673,268 57,152 42,117 165,061 39,400 109,829 9,814 7,102 25,789 48,555 290,656

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 2,128,844 30,236 1,356,888 57,150 42,045 164,757 39,364 56,555 9,807 7,101 25,779 48,511 290,649

U.S. Treasury, General Account 287,804 0 287,804 0 0 0 0 0 0 0 0 0 0

Foreign official 5,253 2 5,225 2 3 9 2 2 1 0 0 0 6

Other12 77,110 30 23,351 0 69 295 34 53,272 6 0 9 43 1

Deferred availability cash items 257 0 0 0 0 0 62 0 0 194 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,644 36 886 43 57 83 124 60 26 14 29 75 209

Other liabilities and accrued

dividends 4,963 183 2,026 209 212 575 315 317 140 145 153 227 461

Total liabilities 4,344,442 88,786 2,370,880 110,372 127,900 290,072 269,246 222,581 59,727 36,356 70,836 180,469 517,216

Capital

Capital paid in 31,742 1,343 9,949 1,866 2,537 6,864 1,806 1,334 475 145 324 396 4,703

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 4,383,684 90,448 2,383,194 112,664 131,042 298,556 271,486 224,233 60,310 36,535 71,234 180,958 523,023

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, April 11, 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 Apr 11, 2018

Federal Reserve notes outstanding 1,776,686

Less: Notes held by F.R. Banks not subject to collateralization 183,321

Federal Reserve notes to be collateralized 1,593,365

Collateral held against Federal Reserve notes 1,593,365

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,577,128

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,171,820

Less: Face value of securities under reverse repurchase agreements 242,010

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,929,810

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.