FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks August 23, 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

Aug 22, 2018 Aug 15, 2018 Aug 23, 2017

Wednesday

Aug 22, 2018

Reserve Bank credit 4,189,859 - 27,158 - 234,656 4,189,432

Securities held outright1 4,034,202 - 14,084 - 217,278 4,033,680

U.S. Treasury securities 2,324,508 - 10,650 - 140,756 2,324,540

Bills2 86 + 86 + 86 100

Notes and bonds, nominal2 2,188,006 - 10,785 - 149,559 2,188,006

Notes and bonds, inflation-indexed2 114,592 0 + 5,619 114,592

Inflation compensation3 21,824 + 49 + 3,098 21,842

Federal agency debt securities2 2,409 0 - 5,497 2,409

Mortgage-backed securities4 1,707,285 - 3,434 - 71,026 1,706,731

Unamortized premiums on securities held outright5 147,228 - 418 - 17,048 147,068

Unamortized discounts on securities held outright5 -13,826 - 30 + 783 -13,815

Repurchase agreements6 0 0 0 0

Loans 285 + 43 + 55 285

Primary credit 36 + 30 + 29 10

Secondary credit 0 0 0 0

Seasonal credit 248 + 12 + 24 274

Other credit extensions 0 0 0 0

Net portfolio holdings of Maiden Lane LLC7 1,719 0 + 11 1,720

Float -167 - 7 + 77 -224

Central bank liquidity swaps8 68 - 38 + 32 68

Other Federal Reserve assets9 20,350 - 12,623 - 1,286 20,651

Foreign currency denominated assets10 20,927 + 67 - 459 21,080

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,715 + 14 + 633 49,715

Total factors supplying reserve funds 4,276,742 - 27,077 - 234,482 4,276,468

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

Aug 22, 2018 Aug 15, 2018 Aug 23, 2017

Wednesday

Aug 22, 2018

Currency in circulation11 1,673,728 + 2,741 + 108,314 1,675,101

Reverse repurchase agreements12 249,010 + 6,490 - 125,013 244,204

Foreign official and international accounts 246,607 + 5,735 + 7,710 243,078

Others 2,403 + 755 - 132,723 1,126

Treasury cash holdings 219 0 + 43 217

Deposits with F.R. Banks, other than reserve balances 426,013 + 3,850 + 261,715 409,586

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 348,393 + 5,594 + 266,316 334,992

Foreign official 5,274 + 16 + 109 5,256

Other13 72,346 - 1,761 - 4,709 69,338

Other liabilities and capital14 44,519 - 863 - 3,155 44,574

Total factors, other than reserve balances,

absorbing reserve funds 2,393,488 + 12,216 + 241,904 2,373,682

Reserve balances with Federal Reserve Banks 1,883,254 - 39,293 - 476,386 1,902,785

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

Aug 22, 2018 Aug 15, 2018 Aug 23, 2017

Wednesday

Aug 22, 2018

Securities held in custody for foreign official and international

accounts 3,429,843 - 2,470 + 88,158 3,427,977

Marketable U.S. Treasury securities1 3,059,207 - 529 + 40,869 3,058,309

Federal agency debt and mortgage-backed securities2 299,655 - 938 + 37,683 298,707

Other securities3 70,982 - 1,002 + 9,608 70,961

Securities lent to dealers 14,211 - 1,239 - 8,942 15,826

Overnight facility4 14,211 - 1,239 - 8,942 15,826

U.S. Treasury securities 14,211 - 1,239 - 8,942 15,826

Federal agency debt securities 0 0 0 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, August 22, 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 260 25 0 0 0 ... 285

U.S. Treasury securities1

Holdings 20,932 77,244 326,060 1,016,033 267,171 617,099 2,324,540

Weekly changes + 20,932 + 13,472 - 34,303 + 7 + 8,722 - 8,681 + 149

Federal agency debt securities2

Holdings 0 0 62 0 0 2,347 2,409

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities3

Holdings 0 0 0 149 43,391 1,663,190 1,706,731

Weekly changes 0 0 0 0 + 6 - 1,462 - 1,456

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

Central bank liquidity swaps5 68 0 0 0 0 0 68

Reverse repurchase agreements4 244,204 0 ... ... ... ... 244,204

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 Aug 22, 2018

Mortgage-backed securities held outright1 1,706,731

Commitments to buy mortgage-backed securities2 4,945

Commitments to sell mortgage-backed securities2 15

Cash and cash equivalents3 12

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 Aug 22, 2018

Net portfolio holdings of Maiden Lane LLC1 1,720

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

Aug 22, 2018 Aug 15, 2018 Aug 23, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,791 + 7 - 81

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,167,217 - 1,634 - 233,304

Securities held outright1 4,033,680 - 1,308 - 217,050

U.S. Treasury securities 2,324,540 + 149 - 140,733

Bills2 100 + 100 + 100

Notes and bonds, nominal2 2,188,006 0 - 149,559

Notes and bonds, inflation-indexed2 114,592 0 + 5,619

Inflation compensation3 21,842 + 49 + 3,107

Federal agency debt securities2 2,409 0 - 4,348

Mortgage-backed securities4 1,706,731 - 1,456 - 71,968

Unamortized premiums on securities held outright5 147,068 - 393 - 17,085

Unamortized discounts on securities held outright5 -13,815 + 29 + 783

Repurchase agreements6 0 0 0

Loans 285 + 39 + 49

Net portfolio holdings of Maiden Lane LLC7 1,720 + 1 + 12

Items in process of collection (0) 54 - 135 + 1

Bank premises 2,183 + 1 - 16

Central bank liquidity swaps8 68 - 38 + 32

Foreign currency denominated assets9 21,080 + 292 - 360

Other assets10 18,468 + 1,400 - 1,302

Total assets (0) 4,228,818 - 106 - 235,019

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

Aug 22, 2018 Aug 15, 2018 Aug 23, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,627,390 + 1,476 + 107,790

Reverse repurchase agreements11 244,204 - 5,332 - 163,619

Deposits (0) 2,312,371 + 4,016 - 176,313

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 1,902,785 - 15,959 - 435,385

U.S. Treasury, General Account 334,992 + 16,875 + 267,062

Foreign official 5,256 - 1 + 91

Other12 (0) 69,338 + 3,101 - 8,080

Deferred availability cash items (0) 278 - 57 - 244

Other liabilities and accrued dividends13 5,553 - 213 - 678

Total liabilities (0) 4,189,796 - 111 - 233,065

Capital accounts

Capital paid in 32,196 + 4 + 1,220

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 39,021 + 4 - 1,955

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, August 22, 2018

Millions of dollars

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

Assets

Gold certificate account 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405

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

Coin 1,791 42 42 161 117 251 201 295 34 45 108 203 291

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,167,217 79,584 2,300,471 105,206 118,134 246,585 250,146 223,195 55,599 34,876 65,601 172,303 515,517

Securities held outright1 4,033,680 77,039 2,226,904 101,842 114,356 238,698 242,129 216,035 53,702 33,661 63,500 166,792 499,023

U.S. Treasury securities 2,324,540 44,396 1,283,326 58,690 65,901 137,557 139,535 124,497 30,947 19,398 36,594 96,119 287,578

Bills2 100 2 55 3 3 6 6 5 1 1 2 4 12

Notes and bonds3 2,324,440 44,394 1,283,271 58,687 65,899 137,551 139,529 124,492 30,946 19,397 36,592 96,115 287,566

Federal agency debt securities2 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298

Mortgage-backed securities4 1,706,731 32,597 942,248 43,091 48,386 100,998 102,450 91,409 22,722 14,243 26,868 70,573 211,147

Unamortized premiums on securities 

held outright5 147,068 2,809 81,193 3,713 4,169 8,703 8,828 7,877 1,958 1,227 2,315 6,081 18,194

Unamortized discounts on securities 

held outright5 -13,815 -264 -7,627 -349 -392 -818 -829 -740 -184 -115 -217 -571 -1,709

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

Loans 285 0 1 0 0 2 18 23 123 103 4 1 9

Net portfolio holdings of Maiden

Lane LLC7 1,720 0 1,720 0 0 0 0 0 0 0 0 0 0

Items in process of collection 54 0 0 0 0 0 54 0 0 1 0 0 0

Bank premises 2,183 109 442 76 118 196 203 197 106 95 233 219 189

Central bank liquidity swaps8 68 3 21 4 5 15 4 3 1 0 1 1 10

Foreign currency denominated

assets9 21,080 897 6,646 1,197 1,701 4,554 1,218 894 304 97 209 261 3,103

Other assets10 18,468 382 9,672 459 527 1,294 1,098 965 442 194 346 839 2,250

Interdistrict settlement account 0 + 2,982 + 27,380 - 6,635 + 2,343 + 8,632 + 28,213 - 10,419 + 839 - 700 - 6,322 + 6,100 - 52,413

Total assets 4,228,818 84,560 2,351,837 101,029 123,727 262,710 283,282 216,292 57,810 34,896 60,636 181,113 470,925

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, August 22, 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 1,809,328 58,563 604,939 53,807 87,537 125,038 262,580 118,481 53,999 30,444 47,208 149,064 217,668

Less: Notes held by F.R. Banks 181,938 6,172 44,978 6,993 9,221 14,638 27,987 12,410 5,523 3,084 5,630 17,475 27,826

Federal Reserve notes, net 1,627,390 52,392 559,961 46,813 78,316 110,400 234,593 106,071 48,477 27,359 41,577 131,589 189,842

Reverse repurchase agreements11 244,204 4,664 134,820 6,166 6,923 14,451 14,659 13,079 3,251 2,038 3,844 10,098 30,212

Deposits 2,312,371 25,661 1,642,540 45,559 35,130 128,889 31,308 95,150 5,332 4,943 14,657 38,666 244,536

Term deposits held by depository

institutions 0 0 0 0 0 0 0 0 0 0 0 0 0

Other deposits held by depository

institutions 1,902,785 25,629 1,280,954 45,556 35,064 128,329 31,273 48,068 5,317 4,891 14,642 38,533 244,529

U.S. Treasury, General Account 334,992 0 334,992 0 0 0 0 0 0 0 0 0 0

Foreign official 5,256 2 5,229 2 3 9 2 2 1 0 0 0 6

Other12 69,338 31 21,364 1 62 552 33 47,080 15 52 15 132 1

Deferred availability cash items 278 0 0 0 0 0 56 0 0 222 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,474 40 685 47 60 117 121 84 29 12 30 68 181

Other liabilities and accrued

dividends 4,079 169 1,462 188 192 492 308 280 134 146 151 210 348

Total liabilities 4,189,796 82,926 2,339,467 98,773 120,621 254,349 281,045 214,663 57,223 34,719 60,260 180,631 465,119

Capital

Capital paid in 32,196 1,343 10,219 1,868 2,555 6,887 1,842 1,340 489 146 308 398 4,802

Surplus 6,825 290 2,151 388 551 1,474 394 289 98 31 68 84 1,005

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

Total liabilities and capital 4,228,818 84,560 2,351,837 101,029 123,727 262,710 283,282 216,292 57,810 34,896 60,636 181,113 470,925

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, August 22, 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 $6.825 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 Aug 22, 2018

Federal Reserve notes outstanding 1,809,328

Less: Notes held by F.R. Banks not subject to collateralization 181,938

Federal Reserve notes to be collateralized 1,627,390

Collateral held against Federal Reserve notes 1,627,390

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,611,153

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,033,680

Less: Face value of securities under reverse repurchase agreements 245,076

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,788,603

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.