FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks September 6, 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

Sep 5, 2018 Aug 29, 2018 Sep 6, 2017

Wednesday

Sep 5, 2018

Reserve Bank credit 4,169,309 - 16,355 - 243,265 4,168,781

Securities held outright1 4,014,244 - 15,302 - 225,361 4,012,617

U.S. Treasury securities 2,314,829 - 9,742 - 150,466 2,313,202

Bills2 100 0 + 100 100

Notes and bonds, nominal2 2,177,374 - 10,632 - 159,752 2,175,602

Notes and bonds, inflation-indexed2 115,438 + 846 + 6,026 115,579

Inflation compensation3 21,917 + 44 + 3,160 21,921

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

Mortgage-backed securities4 1,697,006 - 5,560 - 70,547 1,697,006

Unamortized premiums on securities held outright5 146,411 - 373 - 16,935 146,268

Unamortized discounts on securities held outright5 -13,790 + 6 + 766 -13,776

Repurchase agreements6 0 0 0 0

Loans 239 - 54 + 30 261

Primary credit 10 - 14 + 7 1

Secondary credit 0 0 0 0

Seasonal credit 229 - 41 + 23 260

Other credit extensions 0 0 0 0

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

Float -540 - 324 - 126 -501

Central bank liquidity swaps8 90 - 2 + 55 90

Other Federal Reserve assets9 20,936 - 306 - 1,704 22,104

Foreign currency denominated assets10 21,057 - 28 - 450 21,034

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 49,743 + 14 + 639 49,743

Total factors supplying reserve funds 4,256,350 - 16,368 - 243,075 4,255,799

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

Sep 5, 2018 Aug 29, 2018 Sep 6, 2017

Wednesday

Sep 5, 2018

Currency in circulation11 1,685,662 + 9,288 + 110,562 1,688,628

Reverse repurchase agreements12 236,679 - 5,559 - 150,003 229,652

Foreign official and international accounts 236,229 - 3,200 - 8,374 229,642

Others 450 - 2,359 - 141,629 10

Treasury cash holdings 211 - 5 + 42 208

Deposits with F.R. Banks, other than reserve balances 394,921 - 29,531 + 271,296 395,380

Term deposits held by depository institutions 0 - 2,487 0 0

U.S. Treasury, General Account 323,764 - 18,779 + 286,201 324,437

Foreign official 5,256 0 + 88 5,256

Other13 65,901 - 8,264 - 14,992 65,686

Other liabilities and capital14 43,866 - 1,649 - 3,855 44,030

Total factors, other than reserve balances,

absorbing reserve funds 2,361,340 - 27,454 + 228,044 2,357,898

Reserve balances with Federal Reserve Banks 1,895,010 + 11,086 - 471,119 1,897,901

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

Sep 5, 2018 Aug 29, 2018 Sep 6, 2017

Wednesday

Sep 5, 2018

Securities held in custody for foreign official and international

accounts 3,428,848 - 208 + 63,097 3,432,256

Marketable U.S. Treasury securities1 3,060,274 + 405 + 20,266 3,064,214

Federal agency debt and mortgage-backed securities2 298,558 - 171 + 34,489 298,458

Other securities3 70,016 - 442 + 8,342 69,584

Securities lent to dealers 17,288 - 704 - 10,244 16,990

Overnight facility4 17,288 - 704 - 10,244 16,990

U.S. Treasury securities 17,288 - 704 - 10,244 16,990

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, September 5, 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 33 227 0 0 0 ... 261

U.S. Treasury securities1

Holdings 0 102,160 315,819 1,010,628 267,464 617,130 2,313,202

Weekly changes - 20,932 + 24,916 - 10,242 - 5,412 + 275 + 7 - 11,387

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 0 153 44,511 1,652,342 1,697,006

Weekly changes 0 0 0 + 9 + 1,874 - 1,882 0

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

Central bank liquidity swaps5 90 0 0 0 0 0 90

Reverse repurchase agreements4 229,652 0 ... ... ... ... 229,652

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 Sep 5, 2018

Mortgage-backed securities held outright1 1,697,006

Commitments to buy mortgage-backed securities2 7,734

Commitments to sell mortgage-backed securities2 15

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 Sep 5, 2018

Net portfolio holdings of Maiden Lane LLC1 1,719

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

Sep 5, 2018 Aug 29, 2018 Sep 6, 2017

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,755 - 13 - 79

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 4,145,369 - 11,689 - 243,155

Securities held outright1 4,012,617 - 11,387 - 226,982

U.S. Treasury securities 2,313,202 - 11,387 - 152,087

Bills2 100 0 + 100

Notes and bonds, nominal2 2,175,602 - 12,404 - 161,524

Notes and bonds, inflation-indexed2 115,579 + 987 + 6,167

Inflation compensation3 21,921 + 30 + 3,170

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

Mortgage-backed securities4 1,697,006 0 - 70,547

Unamortized premiums on securities held outright5 146,268 - 260 - 16,992

Unamortized discounts on securities held outright5 -13,776 + 9 + 771

Repurchase agreements6 0 0 0

Loans 261 - 50 + 49

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

Items in process of collection (0) 188 + 112 + 92

Bank premises 2,179 - 4 - 18

Central bank liquidity swaps8 90 - 2 + 55

Foreign currency denominated assets9 21,034 - 64 - 589

Other assets10 19,924 + 1,239 - 1,296

Total assets (0) 4,208,496 - 10,418 - 244,978

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

Sep 5, 2018 Aug 29, 2018 Sep 6, 2017

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,640,845 + 7,576 + 109,480

Reverse repurchase agreements11 229,652 - 2,780 - 162,271

Deposits (0) 2,293,280 - 14,477 - 188,636

Term deposits held by depository institutions 0 - 2,487 0

Other deposits held by depository institutions 1,897,901 + 17,394 - 459,147

U.S. Treasury, General Account 324,437 - 20,818 + 285,775

Foreign official 5,256 - 1 + 90

Other12 (0) 65,686 - 8,565 - 15,353

Deferred availability cash items (0) 689 + 115 - 60

Other liabilities and accrued dividends13 5,048 - 808 - 1,370

Total liabilities (0) 4,169,514 - 10,374 - 242,857

Capital accounts

Capital paid in 32,157 - 45 + 1,055

Surplus 6,825 0 - 3,175

Other capital accounts 0 0 0

Total capital 38,982 - 45 - 2,120

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, September 5, 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 1,755 44 40 160 116 246 187 291 32 43 107 203 285

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans 4,145,369 79,167 2,288,421 104,655 117,515 245,291 248,834 222,021 55,311 34,678 65,262 171,400 512,812

Securities held outright1 4,012,617 76,637 2,215,276 101,310 113,759 237,451 240,864 214,907 53,421 33,485 63,168 165,921 496,417

U.S. Treasury securities 2,313,202 44,180 1,277,067 58,403 65,580 136,886 138,854 123,890 30,796 19,304 36,415 95,650 286,176

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

Notes and bonds3 2,313,102 44,178 1,277,011 58,401 65,577 136,880 138,848 123,885 30,795 19,303 36,414 95,646 286,163

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

Mortgage-backed securities4 1,697,006 32,411 936,879 42,846 48,111 100,422 101,866 90,888 22,593 14,161 26,715 70,171 209,944

Unamortized premiums on securities 

held outright5 146,268 2,794 80,751 3,693 4,147 8,656 8,780 7,834 1,947 1,221 2,303 6,048 18,095

Unamortized discounts on securities 

held outright5 -13,776 -263 -7,606 -348 -391 -815 -827 -738 -183 -115 -217 -570 -1,704

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

Loans 261 0 0 0 0 0 17 18 126 87 8 1 4

Net portfolio holdings of Maiden

Lane LLC7 1,719 0 1,719 0 0 0 0 0 0 0 0 0 0

Items in process of collection 188 0 0 0 0 0 187 0 0 1 0 0 0

Bank premises 2,179 109 443 76 117 195 204 196 106 95 233 218 188

Central bank liquidity swaps8 90 4 28 5 7 19 5 4 1 0 1 1 13

Foreign currency denominated

assets9 21,034 895 6,632 1,195 1,698 4,544 1,215 892 304 97 208 260 3,096

Other assets10 19,924 410 10,505 496 573 1,374 1,188 1,041 482 228 371 824 2,432

Interdistrict settlement account 0 - 126 - 2,930 - 7,377 + 3,221 + 7,146 + 35,356 - 6,905 + 2,440 + 302 - 6,416 + 7,899 - 32,609

Total assets 4,208,496 81,062 2,310,303 99,770 124,028 260,001 289,321 218,702 59,161 35,732 60,226 181,993 488,196

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, September 5, 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 1,816,313 58,481 606,038 54,819 87,696 125,830 263,029 119,649 55,099 30,415 47,409 149,974 217,875

Less: Notes held by F.R. Banks 175,469 6,222 44,505 7,019 8,812 14,023 25,328 12,097 5,375 3,031 5,281 16,966 26,809

Federal Reserve notes, net 1,640,845 52,259 561,533 47,799 78,883 111,807 237,700 107,553 49,724 27,384 42,128 133,008 191,066

Reverse repurchase agreements11 229,652 4,386 126,786 5,798 6,511 13,590 13,785 12,300 3,057 1,916 3,615 9,496 28,411

Deposits 2,293,280 22,597 1,607,675 43,710 35,301 125,693 35,012 96,885 5,630 5,604 13,940 38,740 262,492

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 1,897,901 22,563 1,258,374 43,708 35,207 125,194 34,976 51,695 5,621 5,549 13,920 38,609 262,485

U.S. Treasury, General Account 324,437 0 324,437 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 65,686 32 19,635 1 91 491 33 45,188 9 54 20 131 1

Deferred availability cash items 689 0 0 0 0 0 190 0 0 498 0 0 0

Earnings remittances due to the U.S.

Treasury13 1,120 27 550 25 34 53 106 68 24 14 30 61 129

Other liabilities and accrued

dividends 3,928 159 1,389 181 192 496 296 266 137 140 137 204 330

Total liabilities 4,169,514 79,429 2,297,933 97,514 120,921 251,639 287,090 217,071 58,573 35,555 59,851 181,510 482,428

Capital

Capital paid in 32,157 1,343 10,219 1,868 2,556 6,887 1,836 1,342 489 146 308 399 4,764

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 4,208,496 81,062 2,310,303 99,770 124,028 260,001 289,321 218,702 59,161 35,732 60,226 181,993 488,196

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, September 5, 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 Sep 5, 2018

Federal Reserve notes outstanding 1,816,313

Less: Notes held by F.R. Banks not subject to collateralization 175,469

Federal Reserve notes to be collateralized 1,640,845

Collateral held against Federal Reserve notes 1,640,845

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,624,608

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 4,012,617

Less: Face value of securities under reverse repurchase agreements 230,536

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,782,081

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.