FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 16, 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

Nov 15, 2017 Nov 8, 2017 Nov 16, 2016

Wednesday

Nov 15, 2017

Reserve Bank credit 4,422,732 + 4,547 + 2,945 4,408,688

Securities held outright1 4,241,334 + 4,020 + 16,521 4,239,252

U.S. Treasury securities 2,459,585 - 342 - 4,116 2,456,641

Bills2 0 0 0 0

Notes and bonds, nominal2 2,330,701 - 500 - 9,973 2,327,698

Notes and bonds, inflation-indexed2 109,537 0 + 4,011 109,537

Inflation compensation3 19,348 + 159 + 1,847 19,406

Federal agency debt securities2 6,757 0 - 11,736 6,757

Mortgage-backed securities4 1,774,991 + 4,361 + 32,372 1,775,854

Unamortized premiums on securities held outright5 161,052 - 65 - 14,362 161,032

Unamortized discounts on securities held outright5 -14,267 + 25 + 981 -14,284

Repurchase agreements6 37 + 28 + 37 0

Loans 68 + 15 + 22 51

Primary credit 19 + 18 + 1 3

Secondary credit 0 0 0 0

Seasonal credit 49 - 3 + 22 48

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,712 0 + 4 1,710

Float -232 + 73 + 165 -316

Central bank liquidity swaps8 35 - 2 - 936 35

Other Federal Reserve assets9 32,993 + 453 + 513 21,207

Foreign currency denominated assets10 20,987 + 112 + 464 21,122

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,259 + 14 + 803 49,259

Total factors supplying reserve funds 4,509,219 + 4,673 + 4,212 4,495,311

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

Nov 15, 2017 Nov 8, 2017 Nov 16, 2016

Wednesday

Nov 15, 2017

Currency in circulation11 1,591,246 + 1,096 + 100,375 1,593,044

Reverse repurchase agreements12 262,427 - 28,105 - 75,618 263,449

Foreign official and international accounts 224,126 - 2,779 - 13,993 228,411

Others 38,301 - 25,325 - 61,625 35,038

Treasury cash holdings 221 - 8 + 28 205

Deposits with F.R. Banks, other than reserve balances 270,248 + 7,012 - 190,798 233,082

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 174,631 - 3,149 - 225,994 148,165

Foreign official 5,258 + 91 + 91 5,368

Other13 90,360 + 10,071 + 35,105 79,549

Other liabilities and capital14 48,822 + 351 + 1,736 47,724

Total factors, other than reserve balances,

absorbing reserve funds 2,172,964 - 19,653 - 164,278 2,137,504

Reserve balances with Federal Reserve Banks 2,336,255 + 24,326 + 168,489 2,357,806

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

Nov 15, 2017 Nov 8, 2017 Nov 16, 2016

Wednesday

Nov 15, 2017

Securities held in custody for foreign official and international

accounts 3,369,108 - 4,239 + 249,723 3,365,427

Marketable U.S. Treasury securities1 3,040,446 - 5,186 + 241,361 3,037,520

Federal agency debt and mortgage-backed securities2 262,255 - 396 + 2,595 261,239

Other securities3 66,407 + 1,342 + 5,767 66,668

Securities lent to dealers 21,197 - 4,056 - 1,469 23,204

Overnight facility4 21,197 - 4,056 - 1,469 23,204

U.S. Treasury securities 21,197 - 4,056 - 1,438 23,204

Federal agency debt securities 0 0 - 31 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, November 15, 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 27 24 0 0 0 ... 51

U.S. Treasury securities1

Holdings 7,869 48,442 352,103 1,117,050 292,840 638,336 2,456,641

Weekly changes - 3,174 - 7,865 + 34,306 + 5,513 - 36,840 + 4,714 - 3,344

Federal agency debt securities2

Holdings 2,366 0 1,982 62 0 2,347 6,757

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 1 133 20,615 1,755,105 1,775,854

Weekly changes 0 0 0 - 1 - 118 + 5,343 + 5,224

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

Central bank liquidity swaps5 35 0 0 0 0 0 35

Reverse repurchase agreements4 263,449 0 ... ... ... ... 263,449

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 Nov 15, 2017

Mortgage-backed securities held outright1 1,775,854

Commitments to buy mortgage-backed securities2 21,262

Commitments to sell mortgage-backed securities2 10

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 Nov 15, 2017

Net portfolio holdings of Maiden Lane LLC1 1,710

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

Nov 15, 2017 Nov 8, 2017 Nov 16, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,855 + 10 - 11

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,386,052 + 1,787 - 4,260

Securities held outright1 4,239,252 + 1,879 + 9,246

U.S. Treasury securities 2,456,641 - 3,344 - 7,081

Bills2 0 0 0

Notes and bonds, nominal2 2,327,698 - 3,503 - 12,976

Notes and bonds, inflation-indexed2 109,537 0 + 4,011

Inflation compensation3 19,406 + 159 + 1,884

Federal agency debt securities2 6,757 0 - 11,736

Mortgage-backed securities4 1,775,854 + 5,224 + 28,063

Unamortized premiums on securities held outright5 161,032 - 20 - 14,503

Unamortized discounts on securities held outright5 -14,284 - 3 + 974

Repurchase agreements6 0 - 65 0

Loans 51 - 5 + 23

Net portfolio holdings of Maiden Lane LLC7 1,710 - 2 + 2

Items in process of collection (0) 71 - 38 - 6

Bank premises 2,204 + 3 0

Central bank liquidity swaps8 35 - 2 - 936

Foreign currency denominated assets9 21,122 + 256 + 877

Other assets10 19,003 - 12,277 - 1,010

Total assets (0) 4,448,289 - 10,263 - 5,344

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

Nov 15, 2017 Nov 8, 2017 Nov 16, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,545,840 + 1,284 + 101,288

Reverse repurchase agreements11 263,449 - 37,687 - 91,900

Deposits (0) 2,590,889 + 26,825 - 16,766

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,357,806 + 40,196 + 180,221

U.S. Treasury, General Account 148,165 - 12,272 - 227,743

Foreign official 5,368 + 202 + 201

Other12 (0) 79,549 - 1,302 + 30,553

Deferred availability cash items (0) 387 - 134 - 136

Other liabilities and accrued dividends13 6,486 - 552 + 1,201

Total liabilities (0) 4,407,051 - 10,264 - 6,313

Capital accounts

Capital paid in 31,238 + 1 + 970

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 41,238 + 1 + 970

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, November 15, 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 1,855 45 47 185 140 272 195 291 33 52 105 190 300

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,386,052 85,456 2,469,721 113,245 127,190 256,978 258,177 184,478 58,493 34,211 62,219 175,589 560,295

Securities held outright1 4,239,252 82,596 2,387,088 109,456 122,934 248,380 249,538 178,297 56,529 33,051 60,122 169,710 541,549

U.S. Treasury securities 2,456,641 47,864 1,383,314 63,429 71,240 143,936 144,607 103,323 32,759 19,153 34,841 98,347 313,827

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

Notes and bonds3 2,456,641 47,864 1,383,314 63,429 71,240 143,936 144,607 103,323 32,759 19,153 34,841 98,347 313,827

Federal agency debt securities2 6,757 132 3,805 174 196 396 398 284 90 53 96 271 863

Mortgage-backed securities4 1,775,854 34,600 999,969 45,852 51,498 104,048 104,533 74,690 23,681 13,845 25,186 71,093 226,859

Unamortized premiums on securities 

held outright5 161,032 3,138 90,676 4,158 4,670 9,435 9,479 6,773 2,147 1,255 2,284 6,447 20,571

Unamortized discounts on securities 

held outright5 -14,284 -278 -8,043 -369 -414 -837 -841 -601 -190 -111 -203 -572 -1,825

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

Loans 51 0 0 0 0 0 1 9 7 15 15 4 0

Net portfolio holdings of Maiden

Lane LLC7 1,710 0 1,710 0 0 0 0 0 0 0 0 0 0

Items in process of collection 71 0 0 0 0 0 70 0 0 1 0 0 0

Bank premises 2,204 116 443 72 125 197 203 202 110 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 21,122 916 6,765 1,136 1,720 4,564 1,232 884 231 89 205 270 3,110

Other assets10 19,003 409 10,205 483 552 1,278 1,122 800 447 158 327 821 2,401

Interdistrict settlement account 0 - 504 - 61,476 + 331 + 1,477 + 5,858 + 1,281 + 52,095 - 546 + 2,628 + 5,897 + 8,421 - 15,463

Total assets 4,448,289 86,984 2,432,837 116,012 131,998 270,343 264,456 239,913 59,260 37,508 69,434 186,709 552,836

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, November 15, 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 1,734,496 56,621 573,257 54,740 84,576 120,460 234,841 116,799 52,332 31,227 48,233 141,773 219,636

Less: Notes held by F.R. Banks 188,656 6,756 52,378 6,548 9,588 13,990 27,636 11,986 5,337 3,178 5,603 17,829 27,827

Federal Reserve notes, net 1,545,840 49,865 520,879 48,193 74,988 106,470 207,205 104,812 46,995 28,049 42,630 123,944 191,810

Reverse repurchase agreements11 263,449 5,133 148,346 6,802 7,640 15,436 15,508 11,080 3,513 2,054 3,736 10,547 33,655

Deposits 2,590,889 30,009 1,747,598 58,447 45,742 138,928 38,823 121,920 8,087 6,756 22,495 51,422 320,661

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 2,357,806 30,002 1,574,125 58,445 45,738 138,640 38,814 62,639 8,082 6,756 22,494 51,417 320,655

U.S. Treasury, General Account 148,165 0 148,165 0 0 0 0 0 0 0 0 0 0

Foreign official 5,368 2 5,341 2 3 9 2 2 0 0 0 1 6

Other12 79,549 5 19,967 0 0 279 7 59,279 6 0 1 4 1

Deferred availability cash items 387 0 0 0 0 0 75 0 0 312 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,733 38 894 49 71 150 118 67 21 14 17 68 225

Other liabilities and accrued

dividends 4,754 170 2,034 200 208 492 331 284 150 137 146 210 392

Total liabilities 4,407,051 85,214 2,419,751 113,692 128,648 261,476 262,060 238,164 58,765 37,322 69,025 186,191 546,742

Capital

Capital paid in 31,238 1,336 9,884 1,783 2,535 6,706 1,814 1,331 385 143 311 390 4,621

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 4,448,289 86,984 2,432,837 116,012 131,998 270,343 264,456 239,913 59,260 37,508 69,434 186,709 552,836

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, November 15, 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 Nov 15, 2017

Federal Reserve notes outstanding 1,734,496

Less: Notes held by F.R. Banks not subject to collateralization 188,656

Federal Reserve notes to be collateralized 1,545,840

Collateral held against Federal Reserve notes 1,545,840

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,529,603

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,239,252

Less: Face value of securities under reverse repurchase agreements 259,058

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,980,194

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.