FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks September 1, 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 31, 2016 Federal Reserve Banks Aug 31, 2016 Aug 24, 2016 Sep 2, 2015 Reserve Bank credit 4,418,019 - 19,530 - 19,423 4,417,144 Securities held outright (1) 4,230,069 - 18,975 - 3,597 4,230,119 U.S. Treasury securities 2,463,598 + 94 + 1,670 2,463,645 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,342,468 - 136 - 4,172 2,341,647 Notes and bonds, inflation-indexed (2) 103,732 + 136 + 5,198 104,553 Inflation compensation (3) 17,398 + 94 + 645 17,445 Federal agency debt securities (2) 22,492 0 - 12,601 22,492 Mortgage-backed securities (4) 1,743,979 - 19,068 + 7,334 1,743,982 Unamortized premiums on securities held outright (5) 178,438 - 975 - 16,641 178,323 Unamortized discounts on securities held outright (5) -15,622 + 34 + 1,624 -15,615 Repurchase agreements (6) 0 0 0 0 Loans 214 + 2 - 33 207 Primary credit 3 - 3 - 2 1 Secondary credit 0 0 0 0 Seasonal credit 210 + 4 - 32 206 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,707 0 + 8 1,707 Float -551 - 280 - 701 -1,149 Central bank liquidity swaps (8) 1,351 + 1,329 + 1,214 1,351 Other Federal Reserve assets (9) 22,414 - 665 - 1,295 22,201 Foreign currency denominated assets (10) 21,427 - 254 + 1,442 21,228 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 48,053 + 14 + 831 48,053 Total factors supplying reserve funds 4,503,740 - 19,770 - 17,149 4,502,667 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 31, 2016 Federal Reserve Banks Aug 31, 2016 Aug 24, 2016 Sep 2, 2015 Currency in circulation (11) 1,465,232 + 1,470 + 85,962 1,468,632 Reverse repurchase agreements (12) 336,128 - 12,835 + 84,926 422,530 Foreign official and international accounts 242,566 - 1,737 + 76,615 251,162 Others 93,562 - 11,098 + 8,311 171,368 Treasury cash holdings 109 - 10 - 47 112 Deposits with F.R. Banks, other than reserve balances 317,332 + 12,639 + 175,141 334,853 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 274,195 + 19,819 + 153,841 288,946 Foreign official 5,274 + 99 + 26 5,167 Other (13) 37,864 - 7,277 + 21,275 40,740 Other liabilities and capital (14) 46,979 - 856 - 19,088 45,932 Total factors, other than reserve balances, absorbing reserve funds 2,165,780 + 408 + 326,894 2,272,060 Reserve balances with Federal Reserve Banks 2,337,960 - 20,178 - 344,043 2,230,607 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 31, 2016 Aug 31, 2016 Aug 24, 2016 Sep 2, 2015 Securities held in custody for foreign official and international accounts 3,188,552 - 18,143 - 158,075 3,185,897 Marketable U.S. Treasury securities (1) 2,866,110 - 16,193 - 150,781 2,862,957 Federal agency debt and mortgage-backed securities (2) 262,565 - 2,310 - 22,474 262,953 Other securities (3) 59,878 + 360 + 15,181 59,986 Securities lent to dealers 22,446 - 660 + 11,642 23,698 Overnight facility (4) 22,446 - 660 + 11,642 23,698 U.S. Treasury securities 22,430 - 665 + 11,673 23,681 Federal agency debt securities 15 + 4 - 32 17 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 31, 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 136 71 0 0 0 ... 207 U.S. Treasury securities (1) Holdings 0 26,929 161,282 1,209,239 431,098 635,097 2,463,645 Weekly changes - 6,976 0 + 3,200 + 1,896 + 1,930 + 57 + 107 Federal agency debt securities (2) Holdings 2,000 1,999 11,736 4,410 0 2,347 22,492 Weekly changes + 2,000 - 2,000 0 0 0 0 0 Mortgage-backed securities (3) Holdings 0 0 0 1,185 10,787 1,732,010 1,743,982 Weekly changes 0 0 0 - 37 - 208 - 14,793 - 15,038 Repurchase agreements (4) 0 0 ... ... ... ... 0 Central bank liquidity swaps (5) 1,351 0 0 0 0 0 1,351 Reverse repurchase agreements (4) 422,530 0 ... ... ... ... 422,530 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 Aug 31, 2016 Mortgage-backed securities held outright (1) 1,743,982 Commitments to buy mortgage-backed securities (2) 36,009 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 9 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 31, 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 31, 2016 Wednesday Wednesday consolidation Aug 24, 2016 Sep 2, 2015 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,931 - 4 + 38 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,393,034 - 15,707 - 18,641 Securities held outright (1) 4,230,119 - 14,931 - 3,599 U.S. Treasury securities 2,463,645 + 107 + 1,704 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,341,647 - 957 - 4,993 Notes and bonds, inflation-indexed (2) 104,553 + 957 + 6,019 Inflation compensation (3) 17,445 + 107 + 678 Federal agency debt securities (2) 22,492 0 - 12,601 Mortgage-backed securities (4) 1,743,982 - 15,038 + 7,298 Unamortized premiums on securities held outright (5) 178,323 - 784 - 16,622 Unamortized discounts on securities held outright (5) -15,615 + 28 + 1,620 Repurchase agreements (6) 0 0 0 Loans 207 - 21 - 40 Net portfolio holdings of Maiden Lane LLC (7) 1,707 0 + 4 Items in process of collection (0) 218 + 12 - 91 Bank premises 2,212 - 1 - 21 Central bank liquidity swaps (8) 1,351 + 1,329 + 1,214 Foreign currency denominated assets (9) 21,228 - 367 + 1,083 Other assets (10) 19,990 - 1,194 - 1,564 Total assets (0) 4,457,907 - 15,933 - 17,979 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 31, 2016 Wednesday Wednesday consolidation Aug 24, 2016 Sep 2, 2015 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,422,618 + 3,549 + 85,316 Reverse repurchase agreements (11) 422,530 + 86,670 + 190,629 Deposits (0) 2,565,460 - 106,497 - 275,870 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 2,230,607 - 110,615 - 464,210 U.S. Treasury, General Account 288,946 + 44,065 + 166,683 Foreign official 5,167 + 3 - 77 Other (12) (0) 40,740 - 39,951 + 21,733 Deferred availability cash items (0) 1,366 + 760 + 1,044 Other liabilities and accrued dividends (13) 5,787 - 416 - 952 Total liabilities (0) 4,417,762 - 15,934 + 167 Capital accounts Capital paid in 30,145 + 1 + 1,000 Surplus 10,000 0 - 19,145 Other capital accounts 0 0 0 Total capital 40,145 + 1 - 18,146 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 31, 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 1,931 48 77 156 136 302 190 279 32 55 136 196 324 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,393,034 107,911 2,499,813 119,275 131,558 268,462 245,869 175,053 55,500 32,479 61,156 156,370 539,588 Securities held outright (1) 4,230,119 103,914 2,407,222 114,857 126,685 258,518 236,756 168,549 53,388 31,187 58,872 150,570 519,602 U.S. Treasury securities 2,463,645 60,520 1,401,979 66,893 73,782 150,563 137,888 98,164 31,093 18,163 34,288 87,693 302,619 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,463,645 60,520 1,401,979 66,893 73,782 150,563 137,888 98,164 31,093 18,163 34,288 87,693 302,619 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) 1,743,982 42,841 992,443 47,353 52,229 106,581 97,609 69,489 22,010 12,858 24,272 62,077 214,220 Unamortized premiums on securities held outright (5) 178,323 4,381 101,478 4,842 5,340 10,898 9,981 7,105 2,251 1,315 2,482 6,347 21,904 Unamortized discounts on securities held outright (5) -15,615 -384 -8,886 -424 -468 -954 -874 -622 -197 -115 -217 -556 -1,918 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 207 0 0 0 0 0 7 21 59 93 19 8 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 218 0 0 0 0 0 217 0 0 1 0 0 0 Bank premises 2,212 118 434 72 105 206 208 202 115 90 240 225 197 Central bank liquidity swaps (8) 1,351 60 446 74 103 301 75 36 14 6 13 17 206 Foreign currency denominated assets (9) 21,228 937 7,014 1,167 1,616 4,731 1,178 569 218 91 212 269 3,227 Other assets (10) 19,990 521 10,866 543 601 1,387 1,128 810 463 169 325 714 2,462 Interdistrict settlement account 0 - 22,774 - 25,596 - 10,404 - 1,549 + 1,692 + 11,480 + 2,624 + 1,264 + 2,012 - 292 + 14,049 + 27,493 Total assets 4,457,907 87,373 2,500,166 111,453 133,393 278,253 262,540 180,750 58,116 35,186 62,239 172,997 575,441 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 31, 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 1,613,018 50,519 526,926 50,353 81,481 113,988 222,030 105,903 50,096 27,797 41,343 133,718 208,864 Less: Notes held by F.R. Banks 190,399 6,366 56,521 6,604 9,638 14,158 28,995 12,364 5,476 3,094 5,326 15,853 26,002 Federal Reserve notes, net 1,422,618 44,153 470,405 43,748 71,843 99,830 193,035 93,539 44,620 24,702 36,016 117,865 182,862 Reverse repurchase agreements (11) 422,530 10,380 240,448 11,473 12,654 25,822 23,649 16,836 5,333 3,115 5,881 15,040 51,901 Deposits 2,565,460 30,925 1,773,315 53,859 45,636 143,282 43,003 68,588 7,580 5,939 19,814 39,328 334,192 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 2,230,607 30,922 1,446,078 53,857 45,633 143,054 42,994 61,237 7,572 5,938 19,812 39,327 334,183 U.S. Treasury, General Account 288,946 0 288,946 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) 40,740 2 33,150 0 0 219 7 7,349 8 0 1 1 3 Deferred availability cash items 1,366 0 0 0 0 0 249 0 0 1,117 0 0 0 Earnings remittances due to the U.S. Treasury (13) 1,187 22 744 21 23 32 78 49 15 8 15 50 130 Other liabilities and accrued dividends 4,600 144 2,098 182 188 476 308 246 137 133 120 205 361 Total liabilities 4,417,762 85,624 2,487,011 109,282 130,344 269,442 260,321 179,257 57,685 35,015 61,846 172,489 569,446 Capital Capital paid in 30,145 1,306 9,857 1,620 2,287 6,580 1,664 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 4,457,907 87,373 2,500,166 111,453 133,393 278,253 262,540 180,750 58,116 35,186 62,239 172,997 575,441 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 31, 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 31, 2016 Federal Reserve notes outstanding 1,613,018 Less: Notes held by F.R. Banks not subject to collateralization 190,399 Federal Reserve notes to be collateralized 1,422,618 Collateral held against Federal Reserve notes 1,422,618 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,406,381 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,230,119 Less: Face value of securities under reverse repurchase agreements 391,467 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,838,652 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.