Board of Governors of the Federal Reserve System

Beginning 2021:Q4, stocks outstanding from SEC tabulation of submissions of FOCUS reports, Schedule 1 - Aggregate securities, commodities, and swaps positions, short/sold, mortgage-backed securities issued by U.S. government agency and U.S. government-sponsored enterprises (series F18002) and debt securities issued by U.S. government agency and U.S. government-sponsored enterprises (series F18004). Prior to 2021:Q4, stocks outstanding are assumed to be zero (series excludes to-be-announced securities). Revaluations are estimated based on the percent change in the Merrill Lynch AAA Agency Master par weighted price index applied to the previous quarter's stocks outstanding. Unadjusted transactions are the change in stocks outstanding less estimated revaluations, less any other changes in volume. Data for the most recent ten years show no significant seasonality.