FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks February 23, 2017 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 Feb 22, 2017 Federal Reserve Banks Feb 22, 2017 Feb 15, 2017 Feb 24, 2016 Reserve Bank credit 4,423,678 - 815 - 24,004 4,429,989 Securities held outright (1) 4,244,002 + 11,964 - 6,936 4,250,406 U.S. Treasury securities 2,463,453 + 11 + 2,401 2,463,456 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,341,382 0 - 5,289 2,341,382 Notes and bonds, inflation-indexed (2) 104,930 0 + 6,396 104,930 Inflation compensation (3) 17,140 + 10 + 1,292 17,144 Federal agency debt securities (2) 13,329 - 2,272 - 17,989 13,329 Mortgage-backed securities (4) 1,767,220 + 14,226 + 8,653 1,773,621 Unamortized premiums on securities held outright (5) 170,930 - 10 - 16,403 171,046 Unamortized discounts on securities held outright (5) -15,041 - 4 + 1,304 -15,031 Repurchase agreements (6) 0 0 0 0 Loans 5 - 6 - 12 3 Primary credit 1 - 5 - 5 0 Secondary credit 0 0 0 0 Seasonal credit 4 - 1 - 7 3 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,705 0 - 16 1,705 Float -295 + 22 - 113 -621 Central bank liquidity swaps (8) 143 - 93 + 54 143 Other Federal Reserve assets (9) 22,230 - 12,687 - 1,881 22,339 Foreign currency denominated assets (10) 19,840 + 10 - 570 19,761 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 48,634 + 14 + 992 48,634 Total factors supplying reserve funds 4,508,393 - 790 - 23,583 4,514,625 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 Feb 22, 2017 Federal Reserve Banks Feb 22, 2017 Feb 15, 2017 Feb 24, 2016 Currency in circulation (11) 1,511,134 + 4,415 + 82,015 1,512,508 Reverse repurchase agreements (12) 394,670 + 56,233 + 91,168 425,529 Foreign official and international accounts 246,807 - 6,255 + 1,751 247,696 Others 147,863 + 62,488 + 89,417 177,833 Treasury cash holdings 241 + 10 - 3 252 Deposits with F.R. Banks, other than reserve balances 315,431 - 52,935 - 15,554 285,964 Term deposits held by depository institutions 0 0 - 63,907 0 U.S. Treasury, General Account 258,292 - 51,627 + 20,342 228,171 Foreign official 5,166 - 8 - 72 5,165 Other (13) 51,973 - 1,299 + 28,083 52,628 Other liabilities and capital (14) 47,896 - 622 + 1,215 47,215 Total factors, other than reserve balances, absorbing reserve funds 2,269,371 + 7,100 + 158,840 2,271,469 Reserve balances with Federal Reserve Banks 2,239,022 - 7,890 - 182,423 2,243,156 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 Feb 22, 2017 Feb 22, 2017 Feb 15, 2017 Feb 24, 2016 Securities held in custody for foreign official and international accounts 3,181,440 + 12,322 - 72,811 3,177,006 Marketable U.S. Treasury securities (1) 2,850,153 + 2,683 - 90,895 2,847,355 Federal agency debt and mortgage-backed securities (2) 268,297 + 9,087 + 3,561 266,723 Other securities (3) 62,990 + 552 + 14,522 62,929 Securities lent to dealers 20,099 + 3,170 + 6,807 18,319 Overnight facility (4) 20,099 + 3,170 + 6,807 18,319 U.S. Treasury securities 20,050 + 3,169 + 6,836 18,269 Federal agency debt securities 49 + 1 - 30 50 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, February 22, 2017 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 3 0 0 0 0 ... 3 U.S. Treasury securities (1) Holdings 13,175 48,558 163,208 1,240,509 372,215 625,791 2,463,456 Weekly changes 0 0 0 + 1 + 8,683 - 8,675 + 10 Federal agency debt securities (2) Holdings 0 4,495 4,443 2,044 0 2,347 13,329 Weekly changes - 1,500 + 1,500 - 1,500 0 0 0 - 1,500 Mortgage-backed securities (3) Holdings 0 0 0 202 11,323 1,762,096 1,773,621 Weekly changes 0 0 0 + 70 + 60 + 13,790 + 13,921 Repurchase agreements (4) 0 0 ... ... ... ... 0 Central bank liquidity swaps (5) 143 0 0 0 0 0 143 Reverse repurchase agreements (4) 425,529 0 ... ... ... ... 425,529 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 Feb 22, 2017 Mortgage-backed securities held outright (1) 1,773,621 Commitments to buy mortgage-backed securities (2) 19,703 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 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 Account name Wednesday Feb 22, 2017 Net portfolio holdings of Maiden Lane LLC (1) 1,705 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 December 31, 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 Feb 22, 2017 Wednesday Wednesday consolidation Feb 15, 2017 Feb 24, 2016 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,967 - 3 - 3 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,406,424 + 12,523 - 18,097 Securities held outright (1) 4,250,406 + 12,431 - 3,041 U.S. Treasury securities 2,463,456 + 10 + 2,245 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,341,382 0 - 5,483 Notes and bonds, inflation-indexed (2) 104,930 0 + 6,396 Inflation compensation (3) 17,144 + 11 + 1,331 Federal agency debt securities (2) 13,329 - 1,500 - 17,989 Mortgage-backed securities (4) 1,773,621 + 13,921 + 12,703 Unamortized premiums on securities held outright (5) 171,046 + 74 - 16,341 Unamortized discounts on securities held outright (5) -15,031 + 30 + 1,302 Repurchase agreements (6) 0 0 0 Loans 3 - 12 - 16 Net portfolio holdings of Maiden Lane LLC (7) 1,705 0 - 17 Items in process of collection (0) 127 + 21 - 14 Bank premises 2,202 + 3 - 27 Central bank liquidity swaps (8) 143 - 93 + 54 Foreign currency denominated assets (9) 19,761 + 5 - 675 Other assets (10) 20,137 + 1,571 - 2,314 Total assets (0) 4,468,702 + 14,026 - 21,094 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 Feb 22, 2017 Wednesday Wednesday consolidation Feb 15, 2017 Feb 24, 2016 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,466,089 + 3,660 + 81,006 Reverse repurchase agreements (11) 425,529 + 61,620 + 138,853 Deposits (0) 2,529,121 - 51,900 - 242,390 Term deposits held by depository institutions 0 0 - 63,907 Other deposits held by depository institutions 2,243,156 - 11,115 - 182,891 U.S. Treasury, General Account 228,171 - 46,007 + 11,309 Foreign official 5,165 - 17 - 73 Other (12) (0) 52,628 + 5,237 - 6,829 Deferred availability cash items (0) 749 + 302 + 77 Other liabilities and accrued dividends (13) 6,684 + 319 + 363 Total liabilities (0) 4,428,171 + 14,000 - 22,092 Capital accounts Capital paid in 30,531 + 26 + 999 Surplus 10,000 0 0 Other capital accounts 0 0 0 Total capital 40,531 + 26 + 999 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, February 22, 2017 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 1,967 57 77 165 138 307 200 291 33 54 122 203 322 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,406,424 108,245 2,507,549 119,644 131,965 269,293 246,624 175,576 55,613 32,487 61,326 156,845 541,258 Securities held outright (1) 4,250,406 104,412 2,418,766 115,408 127,293 259,758 237,892 169,357 53,644 31,336 59,155 151,292 522,094 U.S. Treasury securities 2,463,456 60,515 1,401,872 66,888 73,776 150,551 137,878 98,156 31,091 18,162 34,285 87,686 302,596 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,463,456 60,515 1,401,872 66,888 73,776 150,551 137,878 98,156 31,091 18,162 34,285 87,686 302,596 Federal agency debt securities (2) 13,329 327 7,585 362 399 815 746 531 168 98 186 474 1,637 Mortgage-backed securities (4) 1,773,621 43,569 1,009,310 48,158 53,117 108,393 99,268 70,670 22,385 13,076 24,684 63,132 217,861 Unamortized premiums on securities held outright (5) 171,046 4,202 97,337 4,644 5,123 10,453 9,573 6,815 2,159 1,261 2,381 6,088 21,010 Unamortized discounts on securities held outright (5) -15,031 -369 -8,554 -408 -450 -919 -841 -599 -190 -111 -209 -535 -1,846 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 3 0 0 0 0 0 0 3 0 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,705 0 1,705 0 0 0 0 0 0 0 0 0 0 Items in process of collection 127 0 0 0 0 0 127 0 0 1 0 0 0 Bank premises 2,202 119 438 72 108 203 205 201 113 89 238 222 196 Central bank liquidity swaps (8) 143 6 47 8 11 32 8 4 1 1 1 2 22 Foreign currency denominated assets (9) 19,761 873 6,520 1,087 1,505 4,407 1,097 530 203 85 197 251 3,006 Other assets (10) 20,137 525 10,836 550 599 1,401 1,136 800 523 164 323 824 2,456 Interdistrict settlement account 0 - 24,644 - 23,250 - 1,363 - 9,446 - 23,053 + 13,526 + 21,701 + 5,319 + 3,250 + 5,628 + 21,169 + 11,163 Total assets 4,468,702 85,731 2,509,328 120,732 125,701 253,761 265,118 200,279 62,315 36,413 68,285 180,673 560,367 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, February 22, 2017 (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 1,652,063 54,915 532,525 53,055 81,821 118,920 225,259 112,040 49,091 29,241 46,340 137,614 211,241 Less: Notes held by F.R. Banks 185,974 6,189 51,405 6,746 9,830 13,919 25,672 12,475 5,147 3,526 5,884 16,540 28,642 Federal Reserve notes, net 1,466,089 48,727 481,120 46,309 71,990 105,001 199,588 99,565 43,945 25,715 40,456 121,074 182,599 Reverse repurchase agreements (11) 425,529 10,453 242,155 11,554 12,744 26,006 23,817 16,955 5,371 3,137 5,922 15,147 52,269 Deposits 2,529,121 24,579 1,769,725 60,449 37,426 113,418 38,820 81,723 12,388 6,599 21,358 43,658 318,979 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 2,243,156 24,571 1,506,095 60,447 37,423 113,219 38,811 59,639 12,369 6,599 21,357 43,657 318,970 U.S. Treasury, General Account 228,171 0 228,171 0 0 0 0 0 0 0 0 0 0 Foreign official 5,165 2 5,139 2 3 9 2 1 0 0 0 1 6 Other (12) 52,628 6 30,320 0 0 190 7 22,083 18 0 1 0 2 Deferred availability cash items 749 0 0 0 0 0 103 0 0 646 0 0 0 Earnings remittances due to the U.S. Treasury (13) 1,769 51 973 47 54 104 113 75 28 15 30 69 211 Other liabilities and accrued dividends 4,915 167 2,353 191 188 478 321 268 133 129 123 206 357 Total liabilities 4,428,171 83,977 2,496,325 118,549 122,402 245,006 262,761 198,585 61,864 36,242 67,890 180,153 554,416 Capital Capital paid in 30,531 1,320 9,800 1,645 2,485 6,593 1,773 1,275 341 129 298 392 4,479 Surplus 10,000 434 3,202 538 815 2,161 583 419 109 42 97 128 1,473 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,468,702 85,731 2,509,328 120,732 125,701 253,761 265,118 200,279 62,315 36,413 68,285 180,673 560,367 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, February 22, 2017 (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 Feb 22, 2017 Federal Reserve notes outstanding 1,652,063 Less: Notes held by F.R. Banks not subject to collateralization 185,974 Federal Reserve notes to be collateralized 1,466,089 Collateral held against Federal Reserve notes 1,466,089 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,449,852 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,250,406 Less: Face value of securities under reverse repurchase agreements 407,548 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,842,859 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.