FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks January 26, 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

Jan 25, 2017 Jan 18, 2017 Jan 27, 2016

Wednesday

Jan 25, 2017

Reserve Bank credit 4,419,160 + 5,885 - 32,138 4,414,109

Securities held outright1 4,227,656 + 6,569 - 15,773 4,224,236

U.S. Treasury securities 2,463,478 - 39 + 2,117 2,463,462

Bills2 0 0 0 0

Notes and bonds, nominal2 2,342,206 + 2,216 - 4,433 2,342,206

Notes and bonds, inflation-indexed2 104,106 - 1,850 + 5,572 104,106

Inflation compensation3 17,165 - 406 + 977 17,149

Federal agency debt securities2 16,180 0 - 15,138 16,180

Mortgage-backed securities4 1,747,998 + 6,608 - 2,752 1,744,594

Unamortized premiums on securities held outright5 171,805 - 464 - 16,561 171,505

Unamortized discounts on securities held outright5 -15,083 - 33 + 1,372 -15,071

Repurchase agreements6 0 0 0 0

Loans 11 - 1 - 29 4

Primary credit 8 - 3 - 18 0

Secondary credit 0 0 0 0

Seasonal credit 3 + 2 - 11 4

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,705 0 - 13 1,707

Float -372 + 93 - 215 -516

Central bank liquidity swaps8 486 - 129 + 384 465

Other Federal Reserve assets9 32,951 - 151 - 1,304 31,778

Foreign currency denominated assets10 19,857 + 57 + 127 19,958

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 48,590 + 14 + 985 48,590

Total factors supplying reserve funds 4,503,849 + 5,957 - 31,024 4,498,898

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

Jan 25, 2017 Jan 18, 2017 Jan 27, 2016

Wednesday

Jan 25, 2017

Currency in circulation11 1,500,337 - 2,868 + 87,254 1,499,320

Reverse repurchase agreements12 389,383 + 32,611 + 95,230 361,564

Foreign official and international accounts 252,260 - 1,521 + 33,061 253,204

Others 137,123 + 34,132 + 62,169 108,360

Treasury cash holdings 204 + 20 - 73 216

Deposits with F.R. Banks, other than reserve balances 449,927 + 9,359 + 64,623 454,724

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 390,842 + 24,752 + 48,846 401,735

Foreign official 5,179 + 13 - 61 5,165

Other13 53,906 - 15,406 + 15,838 47,824

Other liabilities and capital14 47,501 - 1,469 + 1,196 46,061

Total factors, other than reserve balances,

absorbing reserve funds 2,387,351 + 37,653 + 248,229 2,361,886

Reserve balances with Federal Reserve Banks 2,116,497 - 31,698 - 279,255 2,137,012

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

Jan 25, 2017 Jan 18, 2017 Jan 27, 2016

Wednesday

Jan 25, 2017

Securities held in custody for foreign official and international

accounts 3,170,621 + 787 - 96,470 3,171,990

Marketable U.S. Treasury securities1 2,854,832 + 4,493 - 100,933 2,854,953

Federal agency debt and mortgage-backed securities2 255,501 - 4,655 - 8,450 256,236

Other securities3 60,288 + 949 + 12,913 60,801

Securities lent to dealers 16,299 - 2,807 + 2,870 14,081

Overnight facility4 16,299 - 2,807 + 2,870 14,081

U.S. Treasury securities 16,252 - 2,805 + 2,898 14,034

Federal agency debt securities 47 - 2 - 29 47

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, January 25, 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 4 0 0 0 0 ... 4

U.S. Treasury securities1

Holdings 7,356 34,350 153,339 1,233,263 405,066 630,088 2,463,462

Weekly changes 0 0 - 2 - 7 - 9 - 25 - 42

Federal agency debt securities2

Holdings 0 4,351 7,438 2,044 0 2,347 16,180

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 120 10,613 1,733,860 1,744,594

Weekly changes 0 0 0 + 37 - 244 - 6,140 - 6,346

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

Central bank liquidity swaps5 465 0 0 0 0 0 465

Reverse repurchase agreements4 361,564 0 ... ... ... ... 361,564

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 Jan 25, 2017

Mortgage-backed securities held outright1 1,744,594

Commitments to buy mortgage-backed securities2 33,835

Commitments to sell mortgage-backed securities2 0

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 Jan 25, 2017

Net portfolio holdings of Maiden Lane LLC1 1,707

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 December 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

Jan 25, 2017 Jan 18, 2017 Jan 27, 2016

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,938 + 27 - 33

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,380,674 - 7,113 - 27,876

Securities held outright1 4,224,236 - 6,389 - 12,602

U.S. Treasury securities 2,463,462 - 42 + 2,121

Bills2 0 0 0

Notes and bonds, nominal2 2,342,206 0 - 4,433

Notes and bonds, inflation-indexed2 104,106 0 + 5,572

Inflation compensation3 17,149 - 43 + 981

Federal agency debt securities2 16,180 0 - 15,138

Mortgage-backed securities4 1,744,594 - 6,346 + 415

Unamortized premiums on securities held outright5 171,505 - 711 - 16,520

Unamortized discounts on securities held outright5 -15,071 + 31 + 1,366

Repurchase agreements6 0 0 0

Loans 4 - 44 - 120

Net portfolio holdings of Maiden Lane LLC7 1,707 + 2 - 15

Items in process of collection (0) 81 - 34 - 114

Bank premises 2,205 + 1 - 33

Central bank liquidity swaps8 465 - 150 + 363

Foreign currency denominated assets9 19,958 + 51 + 224

Other assets10 29,573 - 704 - 2,027

Total assets (0) 4,452,838 - 7,920 - 29,511

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

Jan 25, 2017 Jan 18, 2017 Jan 27, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,452,880 - 3,898 + 84,693

Reverse repurchase agreements11 361,564 - 21,313 + 52,459

Deposits (0) 2,591,736 + 20,108 - 167,522

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,137,012 + 18,194 - 262,255

U.S. Treasury, General Account 401,735 + 4,819 + 63,762

Foreign official 5,165 0 - 68

Other12 (0) 47,824 - 2,904 + 31,038

Deferred availability cash items (0) 596 - 173 + 130

Other liabilities and accrued dividends13 5,611 - 2,649 - 218

Total liabilities (0) 4,412,387 - 7,925 - 30,458

Capital accounts

Capital paid in 30,450 + 4 + 946

Surplus 10,000 0 0

Other capital accounts 0 0 0

Total capital 40,450 + 4 + 946

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, January 25, 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 11,037 355 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 1,938 53 77 163 137 312 197 288 32 53 117 198 312

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,380,674 107,613 2,492,895 118,945 131,194 267,719 245,183 174,547 55,288 32,298 60,970 155,929 538,095

Securities held outright1 4,224,236 103,769 2,403,873 114,697 126,509 258,159 236,427 168,314 53,313 31,143 58,790 150,361 518,879

U.S. Treasury securities 2,463,462 60,516 1,401,875 66,888 73,777 150,551 137,878 98,156 31,091 18,162 34,285 87,686 302,597

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

Notes and bonds3 2,463,462 60,516 1,401,875 66,888 73,777 150,551 137,878 98,156 31,091 18,162 34,285 87,686 302,597

Federal agency debt securities2 16,180 397 9,208 439 485 989 906 645 204 119 225 576 1,987

Mortgage-backed securities4 1,744,594 42,856 992,791 47,370 52,248 106,619 97,643 69,513 22,018 12,862 24,280 62,098 214,295

Unamortized premiums on securities 

held outright5 171,505 4,213 97,598 4,657 5,136 10,481 9,599 6,834 2,165 1,264 2,387 6,105 21,067

Unamortized discounts on securities 

held outright5 -15,071 -370 -8,576 -409 -451 -921 -844 -600 -190 -111 -210 -536 -1,851

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

Loans 4 1 0 0 0 0 0 0 0 1 2 0 0

Net portfolio holdings of Maiden

Lane LLC7 1,707 0 1,707 0 0 0 0 0 0 0 0 0 0

Items in process of collection 81 0 0 0 0 0 80 0 0 1 0 0 0

Bank premises 2,205 118 437 72 107 203 206 201 113 89 239 223 196

Central bank liquidity swaps8 465 21 153 26 35 104 26 12 5 2 5 6 71

Foreign currency denominated

assets9 19,958 882 6,587 1,098 1,520 4,451 1,108 535 205 85 199 253 3,036

Other assets10 29,573 769 16,334 807 892 1,980 1,672 1,183 454 237 469 1,144 3,632

Interdistrict settlement account 0 - 24,605 + 55,850 - 8,366 - 14,558 - 14,282 + 5,705 + 7,302 + 3,763 + 1,652 + 2,387 + 12,937 - 27,785

Total assets 4,452,838 85,402 2,579,446 113,312 120,150 261,659 256,372 185,246 60,369 34,700 64,834 171,847 519,501

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, January 25, 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 1,644,410 53,968 534,303 51,861 80,838 118,788 225,470 109,268 49,212 28,576 45,961 136,215 209,950

Less: Notes held by F.R. Banks 191,530 6,304 49,011 7,134 9,726 15,104 28,492 12,892 5,845 3,291 6,152 17,844 29,735

Federal Reserve notes, net 1,452,880 47,663 485,292 44,728 71,112 103,684 196,978 96,376 43,367 25,285 39,809 118,371 180,215

Reverse repurchase agreements11 361,564 8,882 205,754 9,817 10,828 22,097 20,236 14,406 4,563 2,666 5,032 12,870 44,412

Deposits 2,591,736 26,913 1,872,779 56,376 34,737 126,551 36,313 72,551 11,856 5,969 19,462 39,832 288,397

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 2,137,012 26,906 1,434,036 56,373 34,734 126,475 36,304 56,701 11,834 5,968 19,461 39,830 288,389

U.S. Treasury, General Account 401,735 0 401,735 0 0 0 0 0 0 0 0 0 0

Foreign official 5,165 2 5,138 2 3 9 2 1 0 0 0 1 6

Other12 47,824 5 31,870 0 0 67 7 15,849 22 0 1 2 2

Deferred availability cash items 596 0 0 0 0 0 126 0 0 470 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,116 25 708 37 -7 116 45 -49 10 2 6 52 172

Other liabilities and accrued

dividends 4,495 166 1,962 180 185 462 316 269 131 137 132 205 349

Total liabilities 4,412,387 83,648 2,566,496 111,138 116,856 252,909 254,014 183,553 59,927 34,529 64,441 171,330 513,545

Capital

Capital paid in 30,450 1,320 9,748 1,637 2,479 6,588 1,774 1,274 333 129 296 389 4,483

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 4,452,838 85,402 2,579,446 113,312 120,150 261,659 256,372 185,246 60,369 34,700 64,834 171,847 519,501

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, January 25, 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 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 Jan 25, 2017

Federal Reserve notes outstanding 1,644,410

Less: Notes held by F.R. Banks not subject to collateralization 191,530

Federal Reserve notes to be collateralized 1,452,880

Collateral held against Federal Reserve notes 1,452,880

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,436,643

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,224,236

Less: Face value of securities under reverse repurchase agreements 347,075

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,877,161

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.