FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 3, 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

May 2, 2018 Apr 25, 2018 May 3, 2017

Wednesday

May 2, 2018

Reserve Bank credit 4,325,731 - 17,737 - 106,112 4,316,168

Securities held outright1 4,155,002 - 16,754 - 90,621 4,144,823

U.S. Treasury securities 2,405,640 - 7,527 - 59,139 2,395,460

Bills2 0 0 0 0

Notes and bonds, nominal2 2,273,456 - 8,539 - 66,284 2,262,072

Notes and bonds, inflation-indexed2 111,782 + 875 + 4,979 112,949

Inflation compensation3 20,401 + 136 + 2,165 20,439

Federal agency debt securities2 4,391 0 - 7,438 4,391

Mortgage-backed securities4 1,744,972 - 9,226 - 24,043 1,744,972

Unamortized premiums on securities held outright5 152,873 - 580 - 15,228 152,775

Unamortized discounts on securities held outright5 -13,920 + 42 + 939 -13,936

Repurchase agreements6 0 0 0 0

Loans 125 + 62 + 68 221

Primary credit 68 + 44 + 43 160

Secondary credit 0 0 0 0

Seasonal credit 57 + 18 + 25 61

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,714 + 3 + 5 1,714

Float -633 - 462 + 142 -250

Central bank liquidity swaps8 117 + 35 + 82 117

Other Federal Reserve assets9 30,453 - 82 - 1,499 30,704

Foreign currency denominated assets10 21,705 - 293 + 1,430 21,574

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,622 + 14 + 774 49,622

Total factors supplying reserve funds 4,413,300 - 18,014 - 103,907 4,403,606

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

May 2, 2018 Apr 25, 2018 May 3, 2017

Wednesday

May 2, 2018

Currency in circulation11 1,643,659 + 1,865 + 100,224 1,646,124

Reverse repurchase agreements12 248,184 + 2,050 - 167,715 256,172

Foreign official and international accounts 242,937 + 7,361 - 609 249,652

Others 5,246 - 5,312 - 167,107 6,520

Treasury cash holdings 289 - 8 + 32 282

Deposits with F.R. Banks, other than reserve balances 482,132 + 37,092 + 146,003 464,660

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 399,984 + 40,385 + 155,329 384,961

Foreign official 5,254 0 + 82 5,254

Other13 76,894 - 3,294 - 9,409 74,445

Other liabilities and capital14 44,453 - 1,006 - 3,047 44,545

Total factors, other than reserve balances,

absorbing reserve funds 2,418,716 + 39,992 + 75,496 2,411,783

Reserve balances with Federal Reserve Banks 1,994,584 - 58,006 - 179,403 1,991,823

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

May 2, 2018 Apr 25, 2018 May 3, 2017

Wednesday

May 2, 2018

Securities held in custody for foreign official and international

accounts 3,407,543 - 4,235 + 192,223 3,400,597

Marketable U.S. Treasury securities1 3,055,022 - 3,682 + 156,088 3,048,217

Federal agency debt and mortgage-backed securities2 275,165 + 971 + 19,828 275,585

Other securities3 77,355 - 1,525 + 16,305 76,796

Securities lent to dealers 19,964 + 3,036 - 1,498 23,071

Overnight facility4 19,964 + 3,036 - 1,498 23,071

U.S. Treasury securities 19,964 + 3,036 - 1,466 23,071

Federal agency debt securities 0 0 - 32 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, May 2, 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 161 59 0 0 0 ... 221

U.S. Treasury securities1

Holdings 26,228 90,359 290,878 1,068,418 304,579 614,998 2,395,460

Weekly changes - 8,118 + 4,075 + 1,446 - 11,520 - 3,698 + 57 - 17,758

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 79 36,089 1,708,804 1,744,972

Weekly changes 0 0 0 + 5 - 5 + 5 + 5

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

Central bank liquidity swaps5 117 0 0 0 0 0 117

Reverse repurchase agreements4 256,172 0 ... ... ... ... 256,172

Term deposits 0 0 0 ... ... ... 0

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

...Not applicable.

1. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the

original face value of such securities.

2. Face value.

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

4. Cash value of agreements.

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

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

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name May 2, 2018

Mortgage-backed securities held outright1 1,744,972

Commitments to buy mortgage-backed securities2 11,342

Commitments to sell mortgage-backed securities2 20

Cash and cash equivalents3 1

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

2. Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name May 2, 2018

Net portfolio holdings of Maiden Lane LLC1 1,714

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

May 2, 2018 Apr 25, 2018 May 3, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,819 + 4 - 59

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,283,883 - 17,903 - 114,949

Securities held outright1 4,144,823 - 17,753 - 100,813

U.S. Treasury securities 2,395,460 - 17,758 - 69,332

Bills2 0 0 0

Notes and bonds, nominal2 2,262,072 - 19,923 - 77,668

Notes and bonds, inflation-indexed2 112,949 + 2,042 + 6,146

Inflation compensation3 20,439 + 123 + 2,190

Federal agency debt securities2 4,391 0 - 7,438

Mortgage-backed securities4 1,744,972 + 5 - 24,043

Unamortized premiums on securities held outright5 152,775 - 298 - 15,217

Unamortized discounts on securities held outright5 -13,936 + 14 + 924

Repurchase agreements6 0 0 0

Loans 221 + 134 + 158

Net portfolio holdings of Maiden Lane LLC7 1,714 0 + 5

Items in process of collection (0) 79 + 6 - 34

Bank premises 2,194 - 7 - 5

Central bank liquidity swaps8 117 + 35 + 82

Foreign currency denominated assets9 21,574 - 245 + 1,335

Other assets10 28,510 + 1,351 - 1,495

Total assets (0) 4,356,129 - 16,757 - 115,117

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

May 2, 2018 Apr 25, 2018 May 3, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,598,599 + 2,771 + 99,066

Reverse repurchase agreements11 256,172 + 17,758 - 176,448

Deposits (0) 2,456,482 - 37,239 - 34,752

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,991,823 - 19,125 - 208,998

U.S. Treasury, General Account 384,961 - 18,106 + 181,553

Foreign official 5,254 0 + 54

Other12 (0) 74,445 - 7 - 7,360

Deferred availability cash items (0) 330 + 121 - 273

Other liabilities and accrued dividends13 5,283 - 178 - 1,281

Total liabilities (0) 4,316,866 - 16,768 - 113,687

Capital accounts

Capital paid in 31,762 + 9 + 1,069

Surplus 7,500 0 - 2,500

Other capital accounts 0 0 0

Total capital 39,262 + 9 - 1,431

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, May 2, 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 1,819 50 54 181 116 264 187 297 28 52 109 185 296

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,283,883 81,813 2,364,914 108,153 121,443 253,491 257,134 229,519 57,050 35,760 67,435 177,129 530,041

Securities held outright1 4,144,823 79,162 2,288,264 104,648 117,507 245,275 248,800 221,988 55,181 34,588 65,249 171,388 512,773

U.S. Treasury securities 2,395,460 45,751 1,322,480 60,480 67,912 141,754 143,792 128,296 31,891 19,990 37,710 99,052 296,352

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

Notes and bonds3 2,395,460 45,751 1,322,480 60,480 67,912 141,754 143,792 128,296 31,891 19,990 37,710 99,052 296,352

Federal agency debt securities2 4,391 84 2,424 111 124 260 264 235 58 37 69 182 543

Mortgage-backed securities4 1,744,972 33,327 963,360 44,057 49,471 103,261 104,745 93,457 23,231 14,562 27,470 72,154 215,878

Unamortized premiums on securities 

held outright5 152,775 2,918 84,344 3,857 4,331 9,041 9,171 8,182 2,034 1,275 2,405 6,317 18,900

Unamortized discounts on securities 

held outright5 -13,936 -266 -7,694 -352 -395 -825 -837 -746 -186 -116 -219 -576 -1,724

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

Loans 221 0 0 0 0 0 0 95 21 13 0 0 92

Net portfolio holdings of Maiden

Lane LLC7 1,714 0 1,714 0 0 0 0 0 0 0 0 0 0

Items in process of collection 79 0 0 0 0 0 78 0 0 1 0 0 0

Bank premises 2,194 111 445 74 120 196 202 200 108 95 234 220 190

Central bank liquidity swaps8 117 5 37 7 9 25 7 5 2 1 1 1 17

Foreign currency denominated

assets9 21,574 917 6,820 1,224 1,739 4,655 1,245 913 311 99 214 267 3,171

Other assets10 28,510 579 15,278 718 823 1,908 1,710 1,503 480 309 520 1,187 3,497

Interdistrict settlement account 0 - 1,572 + 90,317 - 5,339 - 4,039 + 4,588 + 8,312 - 17,185 - 1,558 - 1,635 - 4,801 - 2,108 - 64,979

Total assets 4,356,129 82,463 2,485,021 105,578 120,992 266,312 271,021 216,416 56,904 34,969 64,171 178,068 474,213

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, May 2, 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 1,781,342 59,621 605,204 53,913 88,025 125,605 247,021 114,071 52,111 30,526 47,276 138,945 219,024

Less: Notes held by F.R. Banks 182,743 6,252 46,706 7,341 9,781 14,131 29,448 12,759 5,574 3,471 5,898 16,879 24,503

Federal Reserve notes, net 1,598,599 53,368 558,498 46,571 78,244 111,475 217,572 101,312 46,537 27,055 41,378 122,066 194,521

Reverse repurchase agreements11 256,172 4,893 141,427 6,468 7,263 15,159 15,377 13,720 3,411 2,138 4,033 10,593 31,692

Deposits 2,456,482 22,361 1,770,613 50,040 32,121 130,681 35,331 99,389 6,209 5,199 18,195 44,642 241,702

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 1,991,823 22,330 1,358,934 50,038 32,063 130,384 35,294 46,887 6,204 5,198 18,185 44,611 241,695

U.S. Treasury, General Account 384,961 0 384,961 0 0 0 0 0 0 0 0 0 0

Foreign official 5,254 2 5,227 2 3 9 2 2 1 0 0 0 6

Other12 74,445 29 21,491 0 55 289 35 52,500 4 0 10 30 1

Deferred availability cash items 330 0 0 0 0 0 82 0 0 247 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,297 22 700 23 31 -3 122 73 34 16 36 78 164

Other liabilities and accrued

dividends 3,986 156 1,470 183 192 504 288 267 133 135 131 201 326

Total liabilities 4,316,866 80,801 2,472,708 103,285 117,850 257,816 268,773 214,762 56,324 34,790 63,773 177,579 468,405

Capital

Capital paid in 31,762 1,343 9,950 1,866 2,536 6,875 1,814 1,336 473 145 324 396 4,704

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 4,356,129 82,463 2,485,021 105,578 120,992 266,312 271,021 216,416 56,904 34,969 64,171 178,068 474,213

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, May 2, 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 May 2, 2018

Federal Reserve notes outstanding 1,781,342

Less: Notes held by F.R. Banks not subject to collateralization 182,743

Federal Reserve notes to be collateralized 1,598,599

Collateral held against Federal Reserve notes 1,598,599

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,582,362

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,144,823

Less: Face value of securities under reverse repurchase agreements 252,305

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,892,519

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.