FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks September 13, 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

Sep 12, 2018 Sep 5, 2018 Sep 13, 2017

Wednesday

Sep 12, 2018

Reserve Bank credit 4,170,556 + 1,247 - 246,783 4,171,398

Securities held outright1 4,012,620 - 1,624 - 229,280 4,012,629

U.S. Treasury securities 2,313,203 - 1,626 - 152,273 2,313,204

Bills2 100 0 + 100 100

Notes and bonds, nominal2 2,175,602 - 1,772 - 161,724 2,175,602

Notes and bonds, inflation-indexed2 115,579 + 141 + 6,167 115,579

Inflation compensation3 21,922 + 5 + 3,184 21,923

Federal agency debt securities2 2,409 0 - 4,348 2,409

Mortgage-backed securities4 1,697,008 + 2 - 72,659 1,697,016

Unamortized premiums on securities held outright5 146,120 - 291 - 17,057 146,053

Unamortized discounts on securities held outright5 -13,758 + 32 + 770 -13,747

Repurchase agreements6 0 0 0 0

Loans 271 + 32 + 55 317

Primary credit 42 + 32 + 40 65

Secondary credit 0 0 0 0

Seasonal credit 229 0 + 15 252

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,719 0 + 11 1,720

Float -163 + 377 + 86 -220

Central bank liquidity swaps8 91 + 1 + 4 91

Other Federal Reserve assets9 23,656 + 2,720 - 1,373 24,555

Foreign currency denominated assets10 21,027 - 30 - 658 21,054

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,757 + 14 + 636 49,757

Total factors supplying reserve funds 4,257,581 + 1,231 - 246,805 4,258,450

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

Sep 12, 2018 Sep 5, 2018 Sep 13, 2017

Wednesday

Sep 12, 2018

Currency in circulation11 1,686,977 + 1,315 + 107,505 1,686,970

Reverse repurchase agreements12 230,392 - 6,287 - 129,622 229,546

Foreign official and international accounts 229,901 - 6,328 - 10,571 228,231

Others 490 + 40 - 119,052 1,315

Treasury cash holdings 208 - 3 + 37 208

Deposits with F.R. Banks, other than reserve balances 373,827 - 21,094 + 216,941 372,664

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 303,654 - 20,110 + 233,422 297,697

Foreign official 5,256 0 + 91 5,256

Other13 64,917 - 984 - 16,571 69,711

Other liabilities and capital14 45,201 + 1,335 - 3,710 45,055

Total factors, other than reserve balances,

absorbing reserve funds 2,336,605 - 24,735 + 191,151 2,334,442

Reserve balances with Federal Reserve Banks 1,920,976 + 25,966 - 437,957 1,924,008

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

Sep 12, 2018 Sep 5, 2018 Sep 13, 2017

Wednesday

Sep 12, 2018

Securities held in custody for foreign official and international

accounts 3,421,806 - 7,042 + 49,439 3,424,884

Marketable U.S. Treasury securities1 3,053,960 - 6,314 + 7,429 3,057,258

Federal agency debt and mortgage-backed securities2 298,530 - 28 + 34,506 298,548

Other securities3 69,315 - 701 + 7,503 69,078

Securities lent to dealers 17,371 + 83 - 7,769 18,775

Overnight facility4 17,371 + 83 - 7,769 18,775

U.S. Treasury securities 17,371 + 83 - 7,769 18,775

Federal agency debt securities 0 0 0 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, September 12, 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 140 178 0 0 0 ... 317

U.S. Treasury securities1

Holdings 0 102,160 315,819 1,010,629 267,465 617,131 2,313,204

Weekly changes 0 0 0 + 1 + 1 + 1 + 2

Federal agency debt securities2

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

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 154 44,511 1,652,352 1,697,016

Weekly changes 0 0 0 + 1 0 + 10 + 10

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

Central bank liquidity swaps5 91 0 0 0 0 0 91

Reverse repurchase agreements4 229,546 0 ... ... ... ... 229,546

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 Sep 12, 2018

Mortgage-backed securities held outright1 1,697,016

Commitments to buy mortgage-backed securities2 8,593

Commitments to sell mortgage-backed securities2 15

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 Sep 12, 2018

Net portfolio holdings of Maiden Lane LLC1 1,720

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

Sep 12, 2018 Sep 5, 2018 Sep 13, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,759 + 4 - 70

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,145,252 - 117 - 258,586

Securities held outright1 4,012,629 + 12 - 241,942

U.S. Treasury securities 2,313,204 + 2 - 152,264

Bills2 100 0 + 100

Notes and bonds, nominal2 2,175,602 0 - 161,724

Notes and bonds, inflation-indexed2 115,579 0 + 6,167

Inflation compensation3 21,923 + 2 + 3,193

Federal agency debt securities2 2,409 0 - 4,348

Mortgage-backed securities4 1,697,016 + 10 - 85,330

Unamortized premiums on securities held outright5 146,053 - 215 - 17,509

Unamortized discounts on securities held outright5 -13,747 + 29 + 768

Repurchase agreements6 0 0 0

Loans 317 + 56 + 97

Net portfolio holdings of Maiden Lane LLC7 1,720 + 1 + 12

Items in process of collection (0) 143 - 45 + 61

Bank premises 2,180 + 1 - 17

Central bank liquidity swaps8 91 + 1 + 4

Foreign currency denominated assets9 21,054 + 20 - 377

Other assets10 22,376 + 2,452 - 1,389

Total assets (0) 4,210,812 + 2,316 - 260,362

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

Sep 12, 2018 Sep 5, 2018 Sep 13, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,639,176 - 1,669 + 105,592

Reverse repurchase agreements11 229,546 - 106 - 137,173

Deposits (0) 2,296,673 + 3,393 - 224,844

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,924,009 + 26,108 - 436,181

U.S. Treasury, General Account 297,697 - 26,740 + 224,477

Foreign official 5,256 0 + 91

Other12 (0) 69,711 + 4,025 - 13,231

Deferred availability cash items (0) 362 - 327 - 60

Other liabilities and accrued dividends13 6,068 + 1,020 - 1,755

Total liabilities (0) 4,171,825 + 2,311 - 258,241

Capital accounts

Capital paid in 32,161 + 4 + 1,052

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 38,986 + 4 - 2,123

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, September 12, 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 1,759 43 41 161 117 242 190 290 33 44 107 203 290

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,145,252 79,166 2,288,325 104,651 117,510 245,281 248,826 222,061 55,308 34,677 65,261 171,393 512,792

Securities held outright1 4,012,629 76,637 2,215,282 101,310 113,759 237,452 240,865 214,908 53,421 33,485 63,168 165,921 496,419

U.S. Treasury securities 2,313,204 44,180 1,277,068 58,404 65,580 136,886 138,854 123,890 30,796 19,304 36,415 95,650 286,176

Bills2 100 2 55 3 3 6 6 5 1 1 2 4 12

Notes and bonds3 2,313,104 44,178 1,277,013 58,401 65,577 136,881 138,848 123,885 30,795 19,303 36,414 95,646 286,164

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

Mortgage-backed securities4 1,697,016 32,411 936,885 42,846 48,111 100,423 101,866 90,889 22,593 14,162 26,715 70,171 209,945

Unamortized premiums on securities 

held outright5 146,053 2,789 80,633 3,688 4,141 8,643 8,767 7,822 1,944 1,219 2,299 6,039 18,069

Unamortized discounts on securities 

held outright5 -13,747 -263 -7,590 -347 -390 -814 -825 -736 -183 -115 -216 -568 -1,701

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

Loans 317 2 0 0 0 0 19 68 126 88 10 1 5

Net portfolio holdings of Maiden

Lane LLC7 1,720 0 1,720 0 0 0 0 0 0 0 0 0 0

Items in process of collection 143 0 0 0 0 0 142 0 0 0 0 0 0

Bank premises 2,180 109 443 76 117 195 204 196 106 95 233 218 188

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

Foreign currency denominated

assets9 21,054 896 6,638 1,196 1,699 4,548 1,217 892 304 97 209 261 3,099

Other assets10 22,376 455 11,842 557 641 1,522 1,334 1,169 507 252 414 951 2,732

Interdistrict settlement account 0 - 560 - 4,936 - 7,994 + 3,595 + 26,255 + 33,111 - 7,019 + 2,438 + 19 - 7,435 + 4,995 - 42,468

Total assets 4,210,812 80,673 2,309,546 99,211 124,468 279,249 287,172 218,757 59,181 35,473 59,249 179,210 478,624

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, September 12, 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 1,819,169 58,525 608,722 54,861 87,726 125,725 263,076 119,732 55,211 30,493 47,555 149,832 217,712

Less: Notes held by F.R. Banks 179,993 6,316 46,244 7,052 9,084 13,594 25,619 12,583 5,496 3,069 5,455 17,357 28,125

Federal Reserve notes, net 1,639,176 52,208 562,477 47,810 78,642 112,131 237,458 107,149 49,715 27,424 42,099 132,475 189,587

Reverse repurchase agreements11 229,546 4,384 126,727 5,796 6,508 13,584 13,779 12,294 3,056 1,916 3,614 9,492 28,398

Deposits 2,296,673 22,246 1,605,378 43,115 35,961 144,555 33,162 97,301 5,659 5,565 12,982 36,471 254,277

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 1,924,009 22,213 1,280,471 43,112 35,838 143,886 33,127 50,809 5,650 5,510 12,970 36,153 254,269

U.S. Treasury, General Account 297,697 0 297,697 0 0 0 0 0 0 0 0 0 0

Foreign official 5,256 2 5,228 2 3 9 2 2 1 0 0 0 6

Other12 69,711 31 21,982 1 120 661 33 46,490 9 55 11 317 2

Deferred availability cash items 362 0 0 0 0 0 129 0 0 233 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,282 27 684 32 40 60 97 66 21 11 30 64 150

Other liabilities and accrued

dividends 4,787 174 1,907 203 210 557 316 313 142 149 149 224 443

Total liabilities 4,171,825 79,039 2,297,173 96,955 121,361 270,887 284,941 217,124 58,593 35,297 58,873 178,726 472,855

Capital

Capital paid in 32,161 1,343 10,221 1,868 2,556 6,887 1,837 1,344 489 146 308 399 4,764

Surplus 6,825 290 2,151 388 551 1,474 394 289 98 31 68 84 1,005

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

Total liabilities and capital 4,210,812 80,673 2,309,546 99,211 124,468 279,249 287,172 218,757 59,181 35,473 59,249 179,210 478,624

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, September 12, 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 $6.825 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 Sep 12, 2018

Federal Reserve notes outstanding 1,819,169

Less: Notes held by F.R. Banks not subject to collateralization 179,993

Federal Reserve notes to be collateralized 1,639,176

Collateral held against Federal Reserve notes 1,639,176

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,622,939

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,012,629

Less: Face value of securities under reverse repurchase agreements 230,783

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,781,846

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.