The households and nonprofit organizations sector is the residual holder of agency- and GSE-backed securities. That is, transactions, levels, and seasonal adjustment factors are calculated as total agency- and GSE-backed securities issued, less the holdings of all other sectors. The levels residual calculation also subtracts the agency- and GSE-backed security instrument discrepancy ( FOF series FL903061703), which accounts for valuation differences between issuance and holdings. Beginning 1996:Q4, revaluations are estimated based on the Merrill Lynch AAA Agency market price index. Other volume changes are calculated as the change in the level, less transactions and revaluations.
Last edited on: 04/29/2019