FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks August 18, 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 Aug 17, 2016 Federal Reserve Banks Aug 17, 2016 Aug 10, 2016 Aug 19, 2015 Reserve Bank credit 4,438,247 + 10,366 - 22,332 4,426,161 Securities held outright (1) 4,242,042 + 15,523 - 4,847 4,239,293 U.S. Treasury securities 2,463,070 + 148 + 1,318 2,463,447 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,342,262 + 58 - 4,379 2,342,604 Notes and bonds, inflation-indexed (2) 103,596 0 + 5,062 103,596 Inflation compensation (3) 17,213 + 91 + 636 17,247 Federal agency debt securities (2) 22,492 0 - 12,601 22,492 Mortgage-backed securities (4) 1,756,479 + 15,375 + 6,434 1,753,354 Unamortized premiums on securities held outright (5) 179,322 + 319 - 16,925 179,130 Unamortized discounts on securities held outright (5) -15,683 + 28 + 1,634 -15,677 Repurchase agreements (6) 0 0 0 0 Loans 208 + 16 - 50 212 Primary credit 3 - 2 - 32 3 Secondary credit 0 0 0 0 Seasonal credit 205 + 18 - 19 208 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,707 + 2 + 5 1,707 Float -398 - 61 - 445 -301 Central bank liquidity swaps (8) 105 - 470 - 27 105 Other Federal Reserve assets (9) 30,944 - 4,991 - 1,676 21,692 Foreign currency denominated assets (10) 21,504 + 185 + 1,873 21,627 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 48,025 + 14 + 850 48,025 Total factors supplying reserve funds 4,524,017 + 10,565 - 19,610 4,512,054 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 Aug 17, 2016 Federal Reserve Banks Aug 17, 2016 Aug 10, 2016 Aug 19, 2015 Currency in circulation (11) 1,464,201 - 432 + 88,412 1,464,578 Reverse repurchase agreements (12) 303,344 - 194 + 66,137 323,693 Foreign official and international accounts 245,249 + 2,661 + 80,867 242,356 Others 58,095 - 2,855 - 14,730 81,337 Treasury cash holdings 113 + 7 - 38 121 Deposits with F.R. Banks, other than reserve balances 379,338 + 77,588 + 44,779 340,768 Term deposits held by depository institutions 58,594 + 58,594 - 64,668 58,594 U.S. Treasury, General Account 260,810 + 978 + 82,927 241,426 Foreign official 5,188 - 16 - 59 5,265 Other (13) 54,745 + 18,032 + 26,578 35,483 Other liabilities and capital (14) 48,478 + 279 - 18,875 47,022 Total factors, other than reserve balances, absorbing reserve funds 2,195,473 + 77,247 + 180,414 2,176,181 Reserve balances with Federal Reserve Banks 2,328,544 - 66,682 - 200,024 2,335,873 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 Aug 17, 2016 Aug 17, 2016 Aug 10, 2016 Aug 19, 2015 Securities held in custody for foreign official and international accounts 3,203,373 + 2,893 - 153,492 3,207,743 Marketable U.S. Treasury securities (1) 2,877,377 + 256 - 139,404 2,881,501 Federal agency debt and mortgage-backed securities (2) 266,805 + 1,937 - 28,929 266,846 Other securities (3) 59,191 + 700 + 14,841 59,396 Securities lent to dealers 21,517 - 728 + 9,596 23,710 Overnight facility (4) 21,517 - 728 + 9,596 23,710 U.S. Treasury securities 21,507 - 725 + 9,646 23,710 Federal agency debt securities 10 - 3 - 50 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 17, 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 197 14 0 0 0 ... 212 U.S. Treasury securities (1) Holdings 6,976 26,929 158,078 1,207,329 429,152 634,983 2,463,447 Weekly changes + 625 + 6,597 + 5,085 + 16,695 - 25,137 - 3,374 + 491 Federal agency debt securities (2) Holdings 0 3,999 10,396 5,750 0 2,347 22,492 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (3) Holdings 0 0 0 1,217 10,972 1,741,165 1,753,354 Weekly changes 0 0 0 + 19 + 983 + 11,243 + 12,245 Repurchase agreements (4) 0 0 ... ... ... ... 0 Central bank liquidity swaps (5) 105 0 0 0 0 0 105 Reverse repurchase agreements (4) 323,693 0 ... ... ... ... 323,693 Term deposits 58,594 0 0 ... ... ... 58,594 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 Aug 17, 2016 Mortgage-backed securities held outright (1) 1,753,354 Commitments to buy mortgage-backed securities (2) 34,654 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 25 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 Aug 17, 2016 Net portfolio holdings of Maiden Lane LLC (1) 1,707 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 June 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 Aug 17, 2016 Wednesday Wednesday consolidation Aug 10, 2016 Aug 19, 2015 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,930 + 18 + 31 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,402,957 + 13,014 - 21,059 Securities held outright (1) 4,239,293 + 12,737 - 5,660 U.S. Treasury securities 2,463,447 + 491 + 1,662 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,342,604 + 400 - 4,037 Notes and bonds, inflation-indexed (2) 103,596 0 + 5,062 Inflation compensation (3) 17,247 + 91 + 637 Federal agency debt securities (2) 22,492 0 - 12,601 Mortgage-backed securities (4) 1,753,354 + 12,245 + 5,279 Unamortized premiums on securities held outright (5) 179,130 + 245 - 16,916 Unamortized discounts on securities held outright (5) -15,677 + 22 + 1,628 Repurchase agreements (6) 0 0 0 Loans 212 + 12 - 110 Net portfolio holdings of Maiden Lane LLC (7) 1,707 0 + 6 Items in process of collection (0) 221 - 4 - 93 Bank premises 2,211 + 1 - 25 Central bank liquidity swaps (8) 105 - 470 - 27 Foreign currency denominated assets (9) 21,627 + 195 + 2,019 Other assets (10) 19,481 - 15,208 - 1,584 Total assets (0) 4,466,476 - 2,453 - 20,732 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 Aug 17, 2016 Wednesday Wednesday consolidation Aug 10, 2016 Aug 19, 2015 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,418,599 - 777 + 87,197 Reverse repurchase agreements (11) 323,693 + 2,622 + 75,799 Deposits (0) 2,676,641 - 4,210 - 166,015 Term deposits held by depository institutions 58,594 + 58,594 - 64,668 Other deposits held by depository institutions 2,335,873 - 46,907 - 217,714 U.S. Treasury, General Account 241,426 - 10,669 + 99,350 Foreign official 5,265 + 69 + 20 Other (12) (0) 35,483 - 5,297 + 16,997 Deferred availability cash items (0) 522 - 7 + 238 Other liabilities and accrued dividends (13) 6,882 - 100 + 121 Total liabilities (0) 4,426,337 - 2,472 - 2,661 Capital accounts Capital paid in 30,139 + 19 + 1,034 Surplus 10,000 0 - 19,105 Other capital accounts 0 0 0 Total capital 40,139 + 19 - 18,071 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, August 17, 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 1,930 42 74 153 139 299 196 280 32 57 135 194 328 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,402,957 108,156 2,505,458 119,544 131,855 269,068 246,423 175,454 55,633 32,551 61,288 156,721 540,806 Securities held outright (1) 4,239,293 104,139 2,412,442 115,106 126,960 259,079 237,270 168,914 53,503 31,254 59,000 150,897 520,729 U.S. Treasury securities 2,463,447 60,515 1,401,866 66,888 73,776 150,550 137,877 98,156 31,091 18,162 34,285 87,686 302,595 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,463,447 60,515 1,401,866 66,888 73,776 150,550 137,877 98,156 31,091 18,162 34,285 87,686 302,595 Federal agency debt securities (2) 22,492 553 12,799 611 674 1,375 1,259 896 284 166 313 801 2,763 Mortgage-backed securities (4) 1,753,354 43,072 997,776 47,607 52,510 107,154 98,134 69,862 22,129 12,927 24,402 62,410 215,371 Unamortized premiums on securities held outright (5) 179,130 4,400 101,937 4,864 5,365 10,947 10,026 7,137 2,261 1,321 2,493 6,376 22,003 Unamortized discounts on securities held outright (5) -15,677 -385 -8,921 -426 -469 -958 -877 -625 -198 -116 -218 -558 -1,926 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 212 1 0 0 0 0 5 27 67 91 13 6 0 Net portfolio holdings of Maiden Lane LLC (7) 1,707 0 1,707 0 0 0 0 0 0 0 0 0 0 Items in process of collection 221 0 0 0 0 0 220 0 0 0 0 0 0 Bank premises 2,211 119 430 73 105 207 208 201 115 90 240 225 197 Central bank liquidity swaps (8) 105 5 35 6 8 23 6 3 1 0 1 1 16 Foreign currency denominated assets (9) 21,627 956 7,138 1,190 1,647 4,823 1,201 580 222 92 216 274 3,290 Other assets (10) 19,481 520 10,579 535 589 1,370 1,096 789 339 171 330 763 2,401 Interdistrict settlement account 0 - 17,783 - 20,772 - 16,406 - 800 - 18,210 + 6,577 - 945 + 1,205 + 91 - 1,199 + 14,865 + 53,376 Total assets 4,466,476 92,566 2,510,054 105,663 134,367 258,753 258,122 177,539 58,057 33,337 61,459 174,200 602,360 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, August 17, 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 1,608,855 49,941 525,694 50,191 81,836 113,083 221,456 105,582 50,217 27,690 41,219 133,524 208,422 Less: Notes held by F.R. Banks 190,255 6,161 59,445 6,336 9,153 13,869 28,555 12,095 5,257 2,887 5,280 15,620 25,597 Federal Reserve notes, net 1,418,599 43,780 466,248 43,855 72,682 99,214 192,901 93,488 44,960 24,803 35,939 117,904 182,826 Reverse repurchase agreements (11) 323,693 7,952 184,203 8,789 9,694 19,782 18,117 12,897 4,085 2,386 4,505 11,522 39,760 Deposits 2,676,641 38,884 1,843,020 50,605 48,688 130,331 44,204 69,330 8,422 5,550 20,474 43,984 373,150 Term deposits held by depository institutions 58,594 50 24,815 16,500 501 1 0 5,615 0 0 2,572 40 8,500 Other deposits held by depository institutions 2,335,873 38,830 1,543,849 34,103 48,184 130,059 44,195 56,206 8,413 5,550 17,900 43,942 364,641 U.S. Treasury, General Account 241,426 0 241,426 0 0 0 0 0 0 0 0 0 0 Foreign official 5,265 2 5,238 2 3 9 2 1 0 0 0 1 6 Other (12) 35,483 2 27,692 0 0 262 7 7,508 8 0 1 1 3 Deferred availability cash items 522 0 0 0 0 0 244 0 0 277 0 0 0 Earnings remittances due to the U.S. Treasury (13) 1,784 44 1,022 48 53 105 105 71 22 12 22 65 214 Other liabilities and accrued dividends 5,099 158 2,407 196 200 511 334 259 137 137 127 217 415 Total liabilities 4,426,337 90,818 2,496,900 103,493 131,318 249,943 255,905 176,046 57,626 33,166 61,066 173,692 596,365 Capital Capital paid in 30,139 1,306 9,855 1,620 2,287 6,579 1,662 1,225 329 128 293 381 4,474 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 4,466,476 92,566 2,510,054 105,663 134,367 258,753 258,122 177,539 58,057 33,337 61,459 174,200 602,360 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, August 17, 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 Aug 17, 2016 Federal Reserve notes outstanding 1,608,855 Less: Notes held by F.R. Banks not subject to collateralization 190,255 Federal Reserve notes to be collateralized 1,418,599 Collateral held against Federal Reserve notes 1,418,599 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,402,362 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,239,293 Less: Face value of securities under reverse repurchase agreements 302,136 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,937,157 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.