FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks March 2, 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 Mar 1, 2017 Federal Reserve Banks Mar 1, 2017 Feb 22, 2017 Mar 2, 2016 Reserve Bank credit 4,426,655 + 2,977 - 12,553 4,419,630 Securities held outright (1) 4,245,956 + 1,954 + 1,653 4,240,003 U.S. Treasury securities 2,463,465 + 12 + 2,307 2,463,488 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,341,105 - 277 - 4,754 2,340,411 Notes and bonds, inflation-indexed (2) 105,208 + 278 + 5,668 105,901 Inflation compensation (3) 17,153 + 13 + 1,393 17,175 Federal agency debt securities (2) 13,329 0 - 17,989 13,329 Mortgage-backed securities (4) 1,769,161 + 1,941 + 17,334 1,763,186 Unamortized premiums on securities held outright (5) 170,720 - 210 - 16,157 170,434 Unamortized discounts on securities held outright (5) -15,027 + 14 + 1,343 -15,052 Repurchase agreements (6) 0 0 0 0 Loans 51 + 46 + 17 2 Primary credit 49 + 48 + 25 1 Secondary credit 0 0 0 0 Seasonal credit 2 - 2 - 8 1 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,705 0 - 17 1,705 Float -615 - 320 + 101 -374 Central bank liquidity swaps (8) 1,104 + 961 + 1,016 1,132 Other Federal Reserve assets (9) 22,760 + 530 - 510 21,781 Foreign currency denominated assets (10) 19,874 + 34 - 295 19,755 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 48,648 + 14 + 997 48,648 Total factors supplying reserve funds 4,511,418 + 3,025 - 11,851 4,504,274 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 Mar 1, 2017 Federal Reserve Banks Mar 1, 2017 Feb 22, 2017 Mar 2, 2016 Currency in circulation (11) 1,515,454 + 4,320 + 84,704 1,521,561 Reverse repurchase agreements (12) 420,286 + 25,616 + 118,250 404,888 Foreign official and international accounts 251,162 + 4,355 + 5,127 248,878 Others 169,124 + 21,261 + 113,123 156,010 Treasury cash holdings 253 + 12 + 13 260 Deposits with F.R. Banks, other than reserve balances 265,722 - 49,709 + 3,381 222,328 Term deposits held by depository institutions 16,625 + 16,625 + 16,625 16,625 U.S. Treasury, General Account 175,496 - 82,796 - 61,711 148,385 Foreign official 5,170 + 4 - 69 5,164 Other (13) 68,432 + 16,459 + 48,537 52,154 Other liabilities and capital (14) 48,080 + 184 + 1,687 47,283 Total factors, other than reserve balances, absorbing reserve funds 2,249,795 - 19,576 + 208,034 2,196,320 Reserve balances with Federal Reserve Banks 2,261,623 + 22,601 - 219,885 2,307,954 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 Mar 1, 2017 Mar 1, 2017 Feb 22, 2017 Mar 2, 2016 Securities held in custody for foreign official and international accounts 3,175,780 - 5,660 - 75,257 3,174,221 Marketable U.S. Treasury securities (1) 2,846,066 - 4,087 - 89,802 2,844,566 Federal agency debt and mortgage-backed securities (2) 266,671 - 1,626 + 166 266,538 Other securities (3) 63,043 + 53 + 14,379 63,117 Securities lent to dealers 19,258 - 841 + 3,548 23,234 Overnight facility (4) 19,258 - 841 + 3,548 23,234 U.S. Treasury securities 19,207 - 843 + 3,558 23,182 Federal agency debt securities 51 + 2 - 10 52 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, March 1, 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 1 1 0 0 0 ... 2 U.S. Treasury securities (1) Holdings 0 48,558 195,256 1,216,789 376,104 626,781 2,463,488 Weekly changes - 13,175 0 + 32,048 - 23,720 + 3,889 + 990 + 32 Federal agency debt securities (2) Holdings 0 4,495 4,443 2,044 0 2,347 13,329 Weekly changes 0 0 0 0 0 0 0 Mortgage-backed securities (3) Holdings 0 0 0 167 11,093 1,751,926 1,763,186 Weekly changes 0 0 0 - 35 - 230 - 10,170 - 10,435 Repurchase agreements (4) 0 0 ... ... ... ... 0 Central bank liquidity swaps (5) 1,132 0 0 0 0 0 1,132 Reverse repurchase agreements (4) 404,888 0 ... ... ... ... 404,888 Term deposits 16,625 0 0 ... ... ... 16,625 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 Mar 1, 2017 Mortgage-backed securities held outright (1) 1,763,186 Commitments to buy mortgage-backed securities (2) 26,088 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 12 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 Mar 1, 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 Mar 1, 2017 Wednesday Wednesday consolidation Feb 22, 2017 Mar 2, 2016 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,942 - 25 + 4 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,395,386 - 11,038 - 19,229 Securities held outright (1) 4,240,003 - 10,403 - 4,296 U.S. Treasury securities 2,463,488 + 32 + 2,336 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,340,411 - 971 - 4,107 Notes and bonds, inflation-indexed (2) 105,901 + 971 + 5,021 Inflation compensation (3) 17,175 + 31 + 1,422 Federal agency debt securities (2) 13,329 0 - 17,989 Mortgage-backed securities (4) 1,763,186 - 10,435 + 11,357 Unamortized premiums on securities held outright (5) 170,434 - 612 - 16,309 Unamortized discounts on securities held outright (5) -15,052 - 21 + 1,385 Repurchase agreements (6) 0 0 0 Loans 2 - 1 - 9 Net portfolio holdings of Maiden Lane LLC (7) 1,705 0 - 17 Items in process of collection (0) 79 - 48 - 105 Bank premises 2,196 - 6 - 29 Central bank liquidity swaps (8) 1,132 + 989 + 1,044 Foreign currency denominated assets (9) 19,755 - 6 - 388 Other assets (10) 19,585 - 552 - 1,750 Total assets (0) 4,458,018 - 10,684 - 20,467 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 Mar 1, 2017 Wednesday Wednesday consolidation Feb 22, 2017 Mar 2, 2016 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,475,112 + 9,023 + 87,140 Reverse repurchase agreements (11) 404,888 - 20,641 + 113,463 Deposits (0) 2,530,281 + 1,160 - 222,729 Term deposits held by depository institutions 16,625 + 16,625 + 16,625 Other deposits held by depository institutions 2,307,954 + 64,798 - 188,628 U.S. Treasury, General Account 148,385 - 79,786 - 81,003 Foreign official 5,164 - 1 - 76 Other (12) (0) 52,154 - 474 + 30,354 Deferred availability cash items (0) 453 - 296 + 10 Other liabilities and accrued dividends (13) 6,750 + 66 + 640 Total liabilities (0) 4,417,484 - 10,687 - 21,476 Capital accounts Capital paid in 30,534 + 3 + 1,008 Surplus 10,000 0 0 Other capital accounts 0 0 0 Total capital 40,534 + 3 + 1,008 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, March 1, 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 1,942 56 74 163 137 306 191 287 30 53 123 201 320 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,395,386 107,974 2,501,268 119,344 131,635 268,618 246,006 175,135 55,473 32,405 61,172 156,453 539,903 Securities held outright (1) 4,240,003 104,157 2,412,846 115,125 126,981 259,122 237,309 168,942 53,512 31,260 59,010 150,922 520,816 U.S. Treasury securities 2,463,488 60,516 1,401,890 66,889 73,777 150,553 137,879 98,157 31,091 18,162 34,285 87,687 302,600 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,463,488 60,516 1,401,890 66,889 73,777 150,553 137,879 98,157 31,091 18,162 34,285 87,687 302,600 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) 1,763,186 43,313 1,003,371 47,874 52,804 107,755 98,684 70,254 22,253 12,999 24,539 62,760 216,579 Unamortized premiums on securities held outright (5) 170,434 4,187 96,988 4,628 5,104 10,416 9,539 6,791 2,151 1,257 2,372 6,067 20,935 Unamortized discounts on securities held outright (5) -15,052 -370 -8,566 -409 -451 -920 -842 -600 -190 -111 -209 -536 -1,849 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 2 0 0 0 0 0 0 1 0 0 0 0 1 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 79 0 0 0 0 0 79 0 0 1 0 0 0 Bank premises 2,196 118 437 71 108 202 205 200 112 89 237 222 195 Central bank liquidity swaps (8) 1,132 50 373 62 86 252 63 30 12 5 11 14 172 Foreign currency denominated assets (9) 19,755 873 6,519 1,087 1,505 4,406 1,097 529 203 84 197 250 3,005 Other assets (10) 19,585 512 10,565 537 587 1,375 1,114 784 536 161 319 699 2,394 Interdistrict settlement account 0 - 11,630 - 131,526 + 3,475 - 1,287 + 655 + 21,029 + 30,716 + 6,295 + 3,993 + 7,544 + 30,900 + 39,836 Total assets 4,458,018 98,504 2,394,823 125,309 133,594 276,986 271,978 208,858 63,171 37,074 70,054 189,895 587,770 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, March 1, 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 1,653,896 55,059 532,030 53,477 81,954 119,191 225,326 112,897 49,053 29,416 46,676 137,777 211,038 Less: Notes held by F.R. Banks 178,784 6,176 51,182 6,539 9,731 13,003 24,036 11,664 4,514 3,581 5,691 15,181 27,484 Federal Reserve notes, net 1,475,112 48,882 480,848 46,938 72,224 106,188 201,290 101,233 44,540 25,835 40,985 122,596 183,554 Reverse repurchase agreements (11) 404,888 9,946 230,408 10,994 12,126 24,744 22,661 16,133 5,110 2,985 5,635 14,412 49,734 Deposits 2,530,281 37,721 1,667,093 64,963 45,704 136,723 45,184 89,471 12,914 7,567 22,897 52,099 347,946 Term deposits held by depository institutions 16,625 50 4,585 4,000 305 0 100 2,235 0 0 2,100 500 2,750 Other deposits held by depository institutions 2,307,954 37,659 1,481,570 60,961 45,396 136,530 45,075 62,718 12,898 7,566 20,795 51,599 345,187 U.S. Treasury, General Account 148,385 0 148,385 0 0 0 0 0 0 0 0 0 0 Foreign official 5,164 2 5,137 2 3 9 2 1 0 0 0 1 6 Other (12) 52,154 11 27,416 0 0 184 7 24,517 15 0 2 0 2 Deferred availability cash items 453 0 0 0 0 0 72 0 0 381 0 0 0 Earnings remittances due to the U.S. Treasury (13) 1,974 55 1,106 54 58 133 123 77 29 11 24 74 230 Other liabilities and accrued dividends 4,775 146 2,365 179 183 442 292 250 128 125 118 194 355 Total liabilities 4,417,484 96,751 2,381,821 123,127 130,295 268,230 269,622 207,164 62,720 36,903 69,659 189,374 581,818 Capital Capital paid in 30,534 1,319 9,800 1,645 2,485 6,595 1,773 1,275 342 129 298 393 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 4,458,018 98,504 2,394,823 125,309 133,594 276,986 271,978 208,858 63,171 37,074 70,054 189,895 587,770 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, March 1, 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 Mar 1, 2017 Federal Reserve notes outstanding 1,653,896 Less: Notes held by F.R. Banks not subject to collateralization 178,784 Federal Reserve notes to be collateralized 1,475,112 Collateral held against Federal Reserve notes 1,475,112 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,458,875 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,240,003 Less: Face value of securities under reverse repurchase agreements 393,316 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,846,686 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.