FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks March 29, 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

Mar 28, 2018 Mar 21, 2018 Mar 29, 2017

Wednesday

Mar 28, 2018

Reserve Bank credit 4,357,353 - 4,181 - 79,018 4,351,268

Securities held outright1 4,188,614 - 4,445 - 62,989 4,183,642

U.S. Treasury securities 2,424,824 + 160 - 39,452 2,424,883

Bills2 0 0 0 0

Notes and bonds, nominal2 2,293,885 0 - 46,726 2,293,885

Notes and bonds, inflation-indexed2 111,220 0 + 5,319 111,220

Inflation compensation3 19,719 + 160 + 1,956 19,778

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

Mortgage-backed securities4 1,759,398 - 4,607 - 14,600 1,754,368

Unamortized premiums on securities held outright5 154,811 - 503 - 14,941 154,546

Unamortized discounts on securities held outright5 -14,023 + 40 + 937 -13,995

Repurchase agreements6 0 0 0 0

Loans 19 + 3 + 8 16

Primary credit 5 0 + 2 2

Secondary credit 0 0 0 0

Seasonal credit 14 + 3 + 6 14

Other credit extensions 0 0 0 0

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

Float -208 - 55 + 143 -530

Central bank liquidity swaps8 79 + 2 - 928 79

Other Federal Reserve assets9 26,354 + 778 - 1,248 25,802

Foreign currency denominated assets10 22,362 + 161 + 2,130 22,255

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,549 + 14 + 787 49,549

Total factors supplying reserve funds 4,445,505 - 4,007 - 76,101 4,439,313

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

Mar 28, 2018 Mar 21, 2018 Mar 29, 2017

Wednesday

Mar 28, 2018

Currency in circulation11 1,635,299 + 1,097 + 101,161 1,636,934

Reverse repurchase agreements12 240,288 - 1,458 - 228,635 255,440

Foreign official and international accounts 229,377 - 1,663 - 20,620 237,542

Others 10,912 + 206 - 208,014 17,898

Treasury cash holdings 317 + 1 + 51 319

Deposits with F.R. Banks, other than reserve balances 410,621 + 6,436 + 250,000 382,337

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 318,858 + 2,404 + 253,671 300,355

Foreign official 5,309 + 55 + 141 5,254

Other13 86,454 + 3,977 - 3,812 76,728

Other liabilities and capital14 45,658 + 182 - 3,068 45,278

Total factors, other than reserve balances,

absorbing reserve funds 2,332,184 + 6,259 + 119,509 2,320,308

Reserve balances with Federal Reserve Banks 2,113,321 - 10,266 - 195,611 2,119,005

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

Mar 28, 2018 Mar 21, 2018 Mar 29, 2017

Wednesday

Mar 28, 2018

Securities held in custody for foreign official and international

accounts 3,444,223 + 4,188 + 237,212 3,443,854

Marketable U.S. Treasury securities1 3,090,936 - 6,531 + 207,198 3,090,437

Federal agency debt and mortgage-backed securities2 272,606 + 9,470 + 11,540 273,164

Other securities3 80,681 + 1,249 + 18,473 80,253

Securities lent to dealers 24,458 + 1,758 - 310 24,538

Overnight facility4 24,458 + 1,758 - 310 24,538

U.S. Treasury securities 24,458 + 1,758 - 238 24,538

Federal agency debt securities 0 0 - 73 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, March 28, 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 16 0 0 0 0 ... 16

U.S. Treasury securities1

Holdings 31,201 89,281 298,438 1,081,513 298,012 626,439 2,424,883

Weekly changes 0 + 1 + 4 + 21 + 42 + 93 + 160

Federal agency debt securities2

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

Weekly changes 0 0 + 62 - 62 0 0 0

Mortgage-backed securities3

Holdings 0 0 1 66 35,709 1,718,592 1,754,368

Weekly changes 0 0 0 - 131 - 884 - 7,789 - 8,803

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

Central bank liquidity swaps5 79 0 0 0 0 0 79

Reverse repurchase agreements4 255,440 0 ... ... ... ... 255,440

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 Mar 28, 2018

Mortgage-backed securities held outright1 1,754,368

Commitments to buy mortgage-backed securities2 12,031

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 3

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

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

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

4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Wednesday Account name Mar 28, 2018

Net portfolio holdings of Maiden Lane LLC1 1,709

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2 0

Accrued interest payable to the Federal Reserve Bank of New York2 0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3 0

1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an

orderly market on the measurement date. Assets are revalued quarterly.

2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent with

consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in

table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of

the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time

to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan

from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Mar 28, 2018 Mar 21, 2018 Mar 29, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,835 - 24 - 77

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,324,209 - 9,140 - 77,139

Securities held outright1 4,183,642 - 8,643 - 63,141

U.S. Treasury securities 2,424,883 + 160 - 39,452

Bills2 0 0 0

Notes and bonds, nominal2 2,293,885 0 - 46,726

Notes and bonds, inflation-indexed2 111,220 0 + 5,319

Inflation compensation3 19,778 + 160 + 1,955

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

Mortgage-backed securities4 1,754,368 - 8,803 - 14,750

Unamortized premiums on securities held outright5 154,546 - 559 - 14,957

Unamortized discounts on securities held outright5 -13,995 + 59 + 953

Repurchase agreements6 0 0 0

Loans 16 + 2 + 5

Net portfolio holdings of Maiden Lane LLC7 1,709 + 1 + 2

Items in process of collection (0) 73 - 15 + 8

Bank premises 2,197 0 - 3

Central bank liquidity swaps8 79 + 2 - 928

Foreign currency denominated assets9 22,255 + 92 + 2,097

Other assets10 23,605 + 61 - 1,379

Total assets (0) 4,392,198 - 9,024 - 77,420

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

Mar 28, 2018 Mar 21, 2018 Mar 29, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,589,535 + 2,144 + 99,752

Reverse repurchase agreements11 255,440 + 6,291 - 255,457

Deposits (0) 2,501,342 - 18,820 + 80,633

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,119,005 - 16,063 - 150,980

U.S. Treasury, General Account 300,355 + 1,382 + 237,254

Foreign official 5,254 0 + 90

Other12 (0) 76,728 - 4,139 - 5,732

Deferred availability cash items (0) 603 + 364 - 180

Other liabilities and accrued dividends13 6,117 + 1,007 - 733

Total liabilities (0) 4,353,037 - 9,014 - 75,986

Capital accounts

Capital paid in 31,661 - 9 + 1,066

Surplus 7,500 0 - 2,500

Other capital accounts 0 0 0

Total capital 39,161 - 9 - 1,434

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, March 28, 2018

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificate account 11,037 349 3,592 348 553 776 1,520 737 341 191 292 916 1,422

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

Coin 1,835 54 48 186 119 269 189 299 29 52 111 190 289

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,324,209 84,251 2,434,919 111,649 125,398 253,357 254,538 181,882 57,662 33,717 61,327 173,110 552,400

Securities held outright1 4,183,642 81,513 2,355,775 108,020 121,322 245,122 246,265 175,959 55,788 32,618 59,334 167,484 534,445

U.S. Treasury securities 2,424,883 47,246 1,365,432 62,609 70,319 142,075 142,738 101,987 32,335 18,906 34,390 97,075 309,770

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

Notes and bonds3 2,424,883 47,246 1,365,432 62,609 70,319 142,075 142,738 101,987 32,335 18,906 34,390 97,075 309,770

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

Mortgage-backed securities4 1,754,368 34,182 987,870 45,297 50,875 102,789 103,269 73,786 23,394 13,678 24,881 70,233 224,114

Unamortized premiums on securities 

held outright5 154,546 3,011 87,024 3,990 4,482 9,055 9,097 6,500 2,061 1,205 2,192 6,187 19,743

Unamortized discounts on securities 

held outright5 -13,995 -273 -7,881 -361 -406 -820 -824 -589 -187 -109 -198 -560 -1,788

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

Loans 16 0 1 0 0 0 0 12 0 3 0 0 0

Net portfolio holdings of Maiden

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

Items in process of collection 73 0 0 0 0 0 73 0 0 0 0 0 0

Bank premises 2,197 113 444 74 121 197 203 202 109 87 235 220 192

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

Foreign currency denominated

assets9 22,255 965 7,128 1,196 1,813 4,809 1,298 931 243 94 216 284 3,277

Other assets10 23,605 493 12,791 608 693 1,590 1,412 997 378 200 402 1,050 2,990

Interdistrict settlement account 0 + 12,681 - 50,690 + 174 - 3,511 + 25,742 + 8,414 + 42,692 + 216 + 1,974 + 7,243 + 2,128 - 47,062

Total assets 4,392,198 99,104 2,411,785 114,448 125,428 287,169 268,305 228,167 59,130 36,406 69,981 178,182 514,092

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, March 28, 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 1,772,880 59,373 601,939 53,788 88,068 123,636 242,042 114,465 52,021 30,702 47,336 139,568 219,942

Less: Notes held by F.R. Banks 183,345 6,504 48,980 7,068 9,807 13,783 27,346 12,137 5,418 3,759 6,000 17,711 24,831

Federal Reserve notes, net 1,589,535 52,870 552,959 46,720 78,261 109,853 214,696 102,329 46,603 26,943 41,336 121,856 195,111

Reverse repurchase agreements11 255,440 4,977 143,836 6,595 7,408 14,966 15,036 10,743 3,406 1,992 3,623 10,226 32,631

Deposits 2,501,342 39,396 1,700,071 58,603 36,365 153,197 35,845 113,081 8,392 6,597 24,474 45,325 279,997

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 2,119,005 39,365 1,372,325 58,601 36,296 153,043 35,807 58,844 8,387 6,597 24,461 45,290 279,989

U.S. Treasury, General Account 300,355 0 300,355 0 0 0 0 0 0 0 0 0 0

Foreign official 5,254 2 5,226 2 3 9 2 2 0 0 0 1 6

Other12 76,728 29 22,164 0 66 145 36 54,235 5 0 13 34 2

Deferred availability cash items 603 0 0 0 0 0 63 0 0 541 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,383 30 735 35 50 83 112 43 13 13 20 67 182

Other liabilities and accrued

dividends 4,735 170 1,871 208 204 587 312 319 129 142 143 220 431

Total liabilities 4,353,037 97,442 2,399,471 112,161 122,287 278,686 266,064 226,515 58,543 36,226 69,595 177,694 508,352

Capital

Capital paid in 31,661 1,343 9,949 1,861 2,536 6,862 1,808 1,334 479 145 312 395 4,636

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 4,392,198 99,104 2,411,785 114,448 125,428 287,169 268,305 228,167 59,130 36,406 69,981 178,182 514,092

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, March 28, 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 Mar 28, 2018

Federal Reserve notes outstanding 1,772,880

Less: Notes held by F.R. Banks not subject to collateralization 183,345

Federal Reserve notes to be collateralized 1,589,535

Collateral held against Federal Reserve notes 1,589,535

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,573,298

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,183,642

Less: Face value of securities under reverse repurchase agreements 252,557

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,931,086

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.