FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks May 26, 2016

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 25, 2016 May 18, 2016 May 27, 2015

Wednesday

May 25, 2016

Reserve Bank credit 4,431,286 - 15,740 - 6,903 4,422,096

Securities held outright1 4,238,016 - 7,648 + 8,290 4,229,807

U.S. Treasury securities 2,461,765 + 87 + 1,173 2,461,637

Bills2 0 0 0 0

Notes and bonds, nominal2 2,342,263 - 29 - 4,380 2,342,092

Notes and bonds, inflation-indexed2 103,134 0 + 4,600 103,134

Inflation compensation3 16,368 + 115 + 953 16,411

Federal agency debt securities2 25,096 - 1,714 - 10,799 25,096

Mortgage-backed securities4 1,751,154 - 6,022 + 17,915 1,743,074

Unamortized premiums on securities held outright5 182,728 - 554 - 17,355 182,397

Unamortized discounts on securities held outright5 -16,111 - 30 + 1,585 -16,089

Repurchase agreements6 87 + 87 + 87 610

Loans 84 + 7 - 13 120

Primary credit 7 0 + 5 37

Secondary credit 0 0 0 0

Seasonal credit 77 + 8 - 18 83

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 16 1,713

Float -145 + 35 + 271 -130

Central bank liquidity swaps8 1,006 0 + 1,004 1,006

Other Federal Reserve assets9 23,908 - 7,637 - 789 22,663

Foreign currency denominated assets10 20,711 - 219 + 1,040 20,667

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 47,819 + 14 + 960 47,819

Total factors supplying reserve funds 4,516,057 - 15,945 - 4,904 4,506,823

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 25, 2016 May 18, 2016 May 27, 2015

Wednesday

May 25, 2016

Currency in circulation11 1,452,124 + 674 + 83,707 1,454,362

Reverse repurchase agreements12 309,852 + 32,934 + 40,596 311,723

Foreign official and international accounts 246,152 - 3,442 + 91,927 245,926

Others 63,700 + 36,376 - 51,331 65,797

Treasury cash holdings 104 - 3 - 69 112

Deposits with F.R. Banks, other than reserve balances 374,047 + 34,532 + 67,663 354,450

Term deposits held by depository institutions 66,820 + 66,820 - 13,099 66,820

U.S. Treasury, General Account 268,619 - 26,720 + 93,042 257,092

Foreign official 5,179 - 9 - 77 5,179

Other13 33,429 - 5,559 - 12,204 25,359

Other liabilities and capital14 47,393 - 405 - 18,547 46,189

Total factors, other than reserve balances,

absorbing reserve funds 2,183,520 + 67,732 + 173,350 2,166,836

Reserve balances with Federal Reserve Banks 2,332,537 - 83,677 - 178,254 2,339,987

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated

financial market utilities. 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 25, 2016 May 18, 2016 May 27, 2015

Wednesday

May 25, 2016

Securities held in custody for foreign official and international

accounts 3,218,126 - 1,746 - 108,616 3,220,721

Marketable U.S. Treasury securities1 2,903,709 - 524 - 90,087 2,906,360

Federal agency debt and mortgage-backed securities2 265,704 - 983 - 22,082 264,823

Other securities3 48,712 - 241 + 3,551 49,539

Securities lent to dealers 21,404 + 4,772 + 10,586 24,622

Overnight facility4 21,404 + 4,772 + 10,586 24,622

U.S. Treasury securities 21,389 + 4,773 + 10,847 24,604

Federal agency debt securities 15 0 - 260 18

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 25, 2016

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 105 15 0 0 0 ... 120

U.S. Treasury securities1

Holdings 25,248 30,731 135,441 1,192,946 441,232 636,039 2,461,637

Weekly changes 0 + 4 + 3 - 182 + 18 + 72 - 84

Federal agency debt securities2

Holdings 0 2,604 13,658 6,487 0 2,347 25,096

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 885 9,189 1,733,000 1,743,074

Weekly changes 0 0 0 - 21 - 169 - 11,468 - 11,659

Repurchase agreements4 610 0 ... ... ... ... 610

Central bank liquidity swaps5 1,006 0 0 0 0 0 1,006

Reverse repurchase agreements4 311,723 0 ... ... ... ... 311,723

Term deposits 66,820 0 0 ... ... ... 66,820

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 25, 2016

Mortgage-backed securities held outright1 1,743,074

Commitments to buy mortgage-backed securities2 28,940

Commitments to sell mortgage-backed securities2 99

Cash and cash equivalents3 46

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 25, 2016

Net portfolio holdings of Maiden Lane LLC1 1,713

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. Revalued quarterly. This table reflects valuations as of March 31, 2016. Any assets purchased after this

valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

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 25, 2016 May 18, 2016 May 27, 2015

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,837 - 21 + 47

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,396,845 - 11,735 - 4,184

Securities held outright1 4,229,807 - 11,743 + 10,839

U.S. Treasury securities 2,461,637 - 84 + 998

Bills2 0 0 0

Notes and bonds, nominal2 2,342,092 - 200 - 4,551

Notes and bonds, inflation-indexed2 103,134 0 + 4,600

Inflation compensation3 16,411 + 116 + 949

Federal agency debt securities2 25,096 0 - 10,799

Mortgage-backed securities4 1,743,074 - 11,659 + 20,640

Unamortized premiums on securities held outright5 182,397 - 694 - 17,249

Unamortized discounts on securities held outright5 -16,089 + 46 + 1,592

Repurchase agreements6 610 + 610 + 610

Loans 120 + 46 + 24

Net portfolio holdings of Maiden Lane LLC7 1,713 0 + 16

Items in process of collection (0) 144 - 35 + 51

Bank premises 2,220 0 - 21

Central bank liquidity swaps8 1,006 0 + 1,004

Foreign currency denominated assets9 20,667 - 177 + 1,233

Other assets10 20,442 - 662 - 1,017

Total assets (0) 4,461,111 - 12,630 - 2,870

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 25, 2016 May 18, 2016 May 27, 2015

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,408,488 + 1,905 + 83,609

Reverse repurchase agreements11 311,723 - 1,148 + 33,086

Deposits (0) 2,694,437 - 12,791 - 100,087

Term deposits held by depository institutions 66,820 + 66,820 - 13,099

Other deposits held by depository institutions 2,339,987 - 59,642 - 196,933

U.S. Treasury, General Account 257,092 - 20,197 + 93,511

Foreign official 5,179 - 24 - 53

Other12 (0) 25,359 + 252 + 16,487

Deferred availability cash items (0) 275 - 116 - 571

Other liabilities and accrued dividends13 6,095 - 506 - 764

Total liabilities (0) 4,421,018 - 12,655 + 15,272

Capital accounts

Capital paid in 30,094 + 26 + 976

Surplus 10,000 0 - 19,118

Other capital accounts 0 0 0

Total capital 40,094 + 26 - 18,142

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 and Federal agency debt securities, amortization is on a straight-line basis. For 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, and designated

financial market utilities. 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 25, 2016

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 11,037 355 3,588 359 586 760 1,541 753 360 193 296 875 1,371

Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574

Coin 1,837 52 64 130 134 295 175 272 23 54 146 183 309

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,396,845 108,008 2,502,032 119,381 131,675 268,700 246,084 175,197 55,531 32,433 61,238 156,500 540,067

Securities held outright1 4,229,807 103,906 2,407,044 114,849 126,676 258,499 236,739 168,536 53,384 31,185 58,868 150,559 519,564

U.S. Treasury securities 2,461,637 60,471 1,400,836 66,839 73,722 150,440 137,776 98,084 31,068 18,149 34,260 87,621 302,372

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

Notes and bonds3 2,461,637 60,471 1,400,836 66,839 73,722 150,440 137,776 98,084 31,068 18,149 34,260 87,621 302,372

Federal agency debt securities2 25,096 616 14,281 681 752 1,534 1,405 1,000 317 185 349 893 3,083

Mortgage-backed securities4 1,743,074 42,819 991,926 47,328 52,202 106,526 97,558 69,453 21,999 12,851 24,259 62,044 214,109

Unamortized premiums on securities 

held outright5 182,397 4,481 103,796 4,952 5,462 11,147 10,209 7,268 2,302 1,345 2,538 6,492 22,405

Unamortized discounts on securities 

held outright5 -16,089 -395 -9,156 -437 -482 -983 -900 -641 -203 -119 -224 -573 -1,976

Repurchase agreements6 610 15 347 17 18 37 34 24 8 4 8 22 75

Loans 120 1 1 0 0 0 3 10 40 17 47 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,713 0 1,713 0 0 0 0 0 0 0 0 0 0

Items in process of collection 144 0 0 0 0 0 144 0 0 1 0 0 0

Bank premises 2,220 121 431 74 105 208 207 203 116 90 241 225 198

Central bank liquidity swaps8 1,006 44 332 55 77 224 56 27 10 4 10 13 153

Foreign currency denominated

assets9 20,667 913 6,820 1,137 1,574 4,609 1,147 554 212 88 206 262 3,144

Other assets10 20,442 532 11,081 555 608 1,402 1,150 822 456 172 325 826 2,513

Interdistrict settlement account 0 - 21,895 + 40,125 - 1,351 - 11,553 - 27,350 + 6,831 + 14,581 + 259 - 1,156 - 2,089 + 8,215 - 4,616

Total assets 4,461,111 88,327 2,568,004 120,550 123,444 249,260 257,989 192,832 57,117 31,969 60,527 167,382 543,713

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 25, 2016 (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 1,578,891 49,269 503,914 49,453 81,759 108,994 222,835 106,442 50,834 27,224 40,038 131,453 206,677

Less: Notes held by F.R. Banks 170,403 5,190 55,494 5,868 9,101 11,710 24,721 9,828 4,971 2,678 4,934 13,084 22,822

Federal Reserve notes, net 1,408,488 44,078 448,420 43,585 72,658 97,284 198,114 96,614 45,863 24,546 35,104 118,369 183,855

Reverse repurchase agreements11 311,723 7,658 177,391 8,464 9,336 19,051 17,447 12,421 3,934 2,298 4,338 11,096 38,290

Deposits 2,694,437 34,658 1,926,098 66,113 38,183 123,564 39,744 81,996 6,754 4,602 20,545 37,153 315,027

Term deposits held by depository

institutions 66,820 25 30,896 19,000 75 8 0 5,810 0 0 3,000 5 8,001

Other deposits held by depository

institutions 2,339,987 34,621 1,615,234 47,111 38,105 123,344 39,735 68,784 6,746 4,601 17,544 37,147 307,014

U.S. Treasury, General Account 257,092 0 257,092 0 0 0 0 0 0 0 0 0 0

Foreign official 5,179 2 5,152 2 3 9 2 1 0 0 0 1 6

Other12 25,359 9 17,725 0 0 203 7 7,400 7 0 1 1 5

Deferred availability cash items 275 0 0 0 0 0 64 0 0 210 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,233 26 742 26 28 41 78 48 17 12 17 52 145

Other liabilities and accrued

dividends 4,862 160 2,217 200 202 516 324 265 131 131 126 202 389

Total liabilities 4,421,018 86,580 2,554,868 118,388 120,406 240,456 255,771 191,343 56,699 31,798 60,130 166,872 537,705

Capital

Capital paid in 30,094 1,305 9,837 1,612 2,276 6,573 1,663 1,220 315 128 296 383 4,486

Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521

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

Total liabilities and capital 4,461,111 88,327 2,568,004 120,550 123,444 249,260 257,989 192,832 57,117 31,969 60,527 167,382 543,713

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 25, 2016 (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 and Federal

agency debt securities, amortization is on a straight-line basis. For 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, and designated financial market utilities. 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 May 25, 2016

Federal Reserve notes outstanding 1,578,891

Less: Notes held by F.R. Banks not subject to collateralization 170,403

Federal Reserve notes to be collateralized 1,408,488

Collateral held against Federal Reserve notes 1,408,488

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,392,252

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,230,417

Less: Face value of securities under reverse repurchase agreements 287,911

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,942,506

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.