FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks November 17, 2016 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Nov 16, 2016 Federal Reserve Banks Nov 16, 2016 Nov 9, 2016 Nov 18, 2015 Reserve Bank credit 4,419,787 + 5,059 - 40,694 4,414,762 Securities held outright (1) 4,224,813 + 6,843 - 26,300 4,230,006 U.S. Treasury securities 2,463,701 + 72 + 2,010 2,463,722 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,340,674 0 - 5,965 2,340,674 Notes and bonds, inflation-indexed (2) 105,526 0 + 6,992 105,526 Inflation compensation (3) 17,501 + 72 + 983 17,522 Federal agency debt securities (2) 18,493 0 - 15,310 18,493 Mortgage-backed securities (4) 1,742,619 + 6,771 - 13,000 1,747,791 Unamortized premiums on securities held outright (5) 175,414 - 89 - 16,607 175,535 Unamortized discounts on securities held outright (5) -15,248 + 26 + 1,538 -15,258 Repurchase agreements (6) 0 0 0 0 Loans 46 + 18 - 59 28 Primary credit 18 + 17 + 14 5 Secondary credit 0 0 0 0 Seasonal credit 27 0 - 74 24 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,708 0 - 5 1,708 Float -397 - 41 - 606 -446 Central bank liquidity swaps (8) 971 - 29 + 822 971 Other Federal Reserve assets (9) 32,480 - 1,669 + 523 22,216 Foreign currency denominated assets (10) 20,523 - 569 + 1,240 20,245 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 48,309 + 14 + 809 48,309 Total factors supplying reserve funds 4,504,860 + 4,504 - 38,645 4,499,557 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and Averages of daily figures Wednesday reserve balances of depository institutions at Week ended Change from week ended Nov 16, 2016 Federal Reserve Banks Nov 16, 2016 Nov 9, 2016 Nov 18, 2015 Currency in circulation (11) 1,490,723 + 4,450 + 85,631 1,490,818 Reverse repurchase agreements (12) 338,045 - 32,143 + 68,753 355,349 Foreign official and international accounts 238,119 + 2,929 + 44,480 239,305 Others 99,926 - 35,072 + 24,273 116,044 Treasury cash holdings 193 + 7 - 60 182 Deposits with F.R. Banks, other than reserve balances 461,046 + 41,222 + 293,399 430,070 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 400,625 + 24,408 + 267,604 375,908 Foreign official 5,167 - 67 + 461 5,167 Other (13) 55,255 + 16,883 + 25,336 48,996 Other liabilities and capital (14) 47,086 - 1,129 - 19,999 45,553 Total factors, other than reserve balances, absorbing reserve funds 2,337,094 + 12,409 + 427,727 2,321,972 Reserve balances with Federal Reserve Banks 2,167,766 - 7,904 - 466,371 2,177,585 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. 1A. Memorandum Items Millions of dollars Memorandum item Averages of daily figures Wednesday Week ended Change from week ended Nov 16, 2016 Nov 16, 2016 Nov 9, 2016 Nov 18, 2015 Securities held in custody for foreign official and international accounts 3,119,385 + 8,009 - 188,519 3,122,008 Marketable U.S. Treasury securities (1) 2,799,085 + 8,100 - 188,255 2,802,625 Federal agency debt and mortgage-backed securities (2) 259,660 - 201 - 14,972 259,160 Other securities (3) 60,640 + 110 + 14,709 60,223 Securities lent to dealers 22,666 + 2,204 + 7,778 26,527 Overnight facility (4) 22,666 + 2,204 + 7,778 26,527 U.S. Treasury securities 22,635 + 2,199 + 7,804 26,495 Federal agency debt securities 31 + 5 - 26 32 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, November 16, 2016 Millions of dollars Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All days 90 days 1 year to 5 years to 10 years years Loans 28 0 0 0 0 ... 28 U.S. Treasury securities (1) Holdings 10,537 22,156 159,283 1,243,286 384,699 643,762 2,463,722 Weekly changes - 3,036 - 10,535 + 11,044 + 44,712 - 50,478 + 8,362 + 68 Federal agency debt securities (2) Holdings 0 3,664 8,072 4,410 0 2,347 18,493 Weekly changes 0 + 1,351 - 1,351 0 0 0 0 Mortgage-backed securities (3) Holdings 0 0 0 1,579 11,130 1,735,082 1,747,791 Weekly changes 0 0 0 - 3 - 68 + 12,014 + 11,943 Repurchase agreements (4) 0 0 ... ... ... ... 0 Central bank liquidity swaps (5) 971 0 0 0 0 0 971 Reverse repurchase agreements (4) 355,349 0 ... ... ... ... 355,349 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. 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Wednesday Nov 16, 2016 Mortgage-backed securities held outright (1) 1,747,791 Commitments to buy mortgage-backed securities (2) 40,513 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 59 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 Account name Wednesday Nov 16, 2016 Net portfolio holdings of Maiden Lane LLC (1) 1,708 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 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 September 30, 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. 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Nov 16, 2016 Wednesday Wednesday consolidation Nov 9, 2016 Nov 18, 2015 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,866 - 12 - 23 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,390,312 + 12,146 - 32,979 Securities held outright (1) 4,230,006 + 12,011 - 18,117 U.S. Treasury securities 2,463,722 + 68 + 2,046 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,340,674 0 - 5,965 Notes and bonds, inflation-indexed (2) 105,526 0 + 6,992 Inflation compensation (3) 17,522 + 68 + 1,019 Federal agency debt securities (2) 18,493 0 - 14,451 Mortgage-backed securities (4) 1,747,791 + 11,943 - 5,712 Unamortized premiums on securities held outright (5) 175,535 + 133 - 16,301 Unamortized discounts on securities held outright (5) -15,258 + 5 + 1,514 Repurchase agreements (6) 0 0 0 Loans 28 - 4 - 76 Net portfolio holdings of Maiden Lane LLC (7) 1,708 0 - 5 Items in process of collection (0) 77 - 28 - 375 Bank premises 2,204 + 4 - 28 Central bank liquidity swaps (8) 971 - 29 + 821 Foreign currency denominated assets (9) 20,245 - 630 + 1,057 Other assets (10) 20,013 - 12,905 - 1,555 Total assets (0) 4,453,633 - 1,454 - 33,088 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Nov 16, 2016 Wednesday Wednesday consolidation Nov 9, 2016 Nov 18, 2015 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,444,552 + 1,168 + 84,604 Reverse repurchase agreements (11) 355,349 - 8,000 + 41,619 Deposits (0) 2,607,655 + 6,936 - 139,709 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 2,177,585 - 12,497 - 434,381 U.S. Treasury, General Account 375,908 + 10,454 + 263,414 Foreign official 5,167 - 350 + 462 Other (12) (0) 48,996 + 9,330 + 30,797 Deferred availability cash items (0) 523 - 120 + 102 Other liabilities and accrued dividends (13) 5,285 - 1,461 - 1,315 Total liabilities (0) 4,413,364 - 1,477 - 14,699 Capital accounts Capital paid in 30,268 + 22 + 939 Surplus 10,000 0 - 19,329 Other capital accounts 0 0 0 Total capital 40,268 + 22 - 18,390 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. 6. Statement of Condition of Each Federal Reserve Bank, November 16, 2016 Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City 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 1,866 48 70 162 130 302 182 280 29 52 121 183 309 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,390,312 107,848 2,498,366 119,206 131,482 268,307 245,726 174,933 55,409 32,375 61,106 156,277 539,278 Securities held outright (1) 4,230,006 103,911 2,407,157 114,854 126,682 258,511 236,750 168,544 53,386 31,186 58,871 150,566 519,588 U.S. Treasury securities 2,463,722 60,522 1,402,023 66,895 73,784 150,567 137,893 98,167 31,094 18,164 34,289 87,696 302,629 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,463,722 60,522 1,402,023 66,895 73,784 150,567 137,893 98,167 31,094 18,164 34,289 87,696 302,629 Federal agency debt securities (2) 18,493 454 10,524 502 554 1,130 1,035 737 233 136 257 658 2,272 Mortgage-backed securities (4) 1,747,791 42,935 994,610 47,456 52,343 106,814 97,822 69,641 22,059 12,886 24,325 62,212 214,688 Unamortized premiums on securities held outright (5) 175,535 4,312 99,891 4,766 5,257 10,728 9,825 6,994 2,215 1,294 2,443 6,248 21,562 Unamortized discounts on securities held outright (5) -15,258 -375 -8,683 -414 -457 -932 -854 -608 -193 -112 -212 -543 -1,874 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 28 0 0 0 0 0 5 3 0 7 5 6 2 Net portfolio holdings of Maiden Lane LLC (7) 1,708 0 1,708 0 0 0 0 0 0 0 0 0 0 Items in process of collection 77 0 0 0 0 0 76 0 0 0 0 0 0 Bank premises 2,204 118 433 72 105 205 206 201 114 90 239 224 196 Central bank liquidity swaps (8) 971 43 320 53 74 217 54 26 10 4 10 12 148 Foreign currency denominated assets (9) 20,245 895 6,681 1,114 1,542 4,515 1,124 543 208 87 202 257 3,080 Other assets (10) 20,013 534 10,908 549 605 1,383 1,132 799 345 175 336 780 2,465 Interdistrict settlement account 0 - 16,640 - 39,886 - 7,360 - 6,385 - 7,836 + 10,598 + 5,601 + 4,062 + 2,701 + 2,090 + 21,873 + 31,182 Total assets 4,453,633 93,397 2,484,006 114,365 128,376 268,263 261,293 183,560 60,687 35,767 64,554 180,763 578,601 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 6. Statement of Condition of Each Federal Reserve Bank, November 16, 2016 (continued) Millions of dollars Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San City Francisco Liabilities Federal Reserve notes outstanding 1,623,468 50,419 528,115 51,739 80,388 113,704 224,013 109,419 49,831 28,233 43,827 134,333 209,448 Less: Notes held by F.R. Banks 178,916 6,083 46,072 6,543 9,327 14,066 27,684 11,847 5,680 3,287 5,697 16,021 26,610 Federal Reserve notes, net 1,444,552 44,336 482,044 45,196 71,061 99,638 196,328 97,572 44,151 24,946 38,130 118,312 182,839 Reverse repurchase agreements (11) 355,349 8,729 202,218 9,649 10,642 21,717 19,889 14,159 4,485 2,620 4,946 12,649 43,649 Deposits 2,607,655 38,402 1,784,460 57,126 43,221 137,588 42,357 70,022 11,459 7,447 20,937 49,018 345,618 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 2,177,585 38,396 1,366,681 57,124 43,218 137,326 42,347 58,047 11,443 7,447 20,935 49,017 345,604 U.S. Treasury, General Account 375,908 0 375,908 0 0 0 0 0 0 0 0 0 0 Foreign official 5,167 2 5,140 2 3 9 2 1 0 0 0 1 6 Other (12) 48,996 5 36,731 0 0 253 7 11,974 16 0 1 1 8 Deferred availability cash items 523 0 0 0 0 0 89 0 0 434 0 0 0 Earnings remittances due to the U.S. Treasury (13) 1,102 13 763 10 8 -8 65 51 15 9 16 54 105 Other liabilities and accrued dividends 4,183 166 1,482 197 205 527 332 260 142 141 130 215 386 Total liabilities 4,413,364 91,647 2,470,967 112,178 125,137 259,462 259,060 182,064 60,251 35,596 64,158 180,248 572,597 Capital Capital paid in 30,268 1,308 9,741 1,637 2,477 6,571 1,677 1,228 333 128 296 389 4,483 Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,453,633 93,397 2,484,006 114,365 128,376 268,263 261,293 183,560 60,687 35,767 64,554 180,763 578,601 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 6. Statement of Condition of Each Federal Reserve Bank, November 16, 2016 (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). 7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Nov 16, 2016 Federal Reserve notes outstanding 1,623,468 Less: Notes held by F.R. Banks not subject to collateralization 178,916 Federal Reserve notes to be collateralized 1,444,552 Collateral held against Federal Reserve notes 1,444,552 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,428,316 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,230,006 Less: Face value of securities under reverse repurchase agreements 339,960 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,890,046 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.