Board of Governors of the Federal Reserve System

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

Reserve Bank credit

 7,189,768

-   18,044

-1,079,003

 7,180,318

Securities held outright1

 6,785,275

-   16,892

-  867,030

 6,776,238

U.S. Treasury securities

 4,446,932

-    6,483

-  664,888

 4,437,894

Bills2

   195,293

         0

-   73,970

   195,293

Notes and bonds, nominal2

 3,781,870

-    6,850

-  584,112

 3,772,735

Notes and bonds, inflation-indexed2

   351,090

-       21

-   17,138

   351,086

Inflation compensation3

   118,680

+      389

+   10,334

   118,780

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,335,997

-   10,408

-  202,141

 2,335,997

Unamortized premiums on securities held outright5

   263,898

-      701

-   31,936

   263,669

Unamortized discounts on securities held outright5

   -24,603

+      185

+    2,779

   -24,501

Repurchase agreements6

         5

-        2

-      424

         4

Foreign official

         3

+        2

-      426

         4

Others

         2

-        4

+        2

         0

Loans

   116,340

-      284

-  163,139

   115,555

Primary credit

     7,125

+      204

+    3,330

     6,404

Secondary credit

         0

         0

         0

         0

Seasonal credit

        58

+        6

+       35

        65

Paycheck Protection Program Liquidity Facility

     2,825

-       24

-    4,395

     2,801

Bank Term Funding Program

   106,332

-      470

+    4,306

   106,284

Other credit extensions7

         0

         0

-  166,416

         0

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

    11,178

+       17

-    8,779

    11,186

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,594

         0

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,649

         0

Float

      -586

-      274

-      208

      -772

Central bank liquidity swaps9

       211

+       88

-        8

       211

Other Federal Reserve assets10

    38,050

-      180

-    3,014

    38,728

Foreign currency denominated assets11

    17,669

+        8

-      701

    17,713

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

    10,200

+    5,000

+    5,000

    10,200

Treasury currency outstanding12

    52,980

+       14

+      728

    52,980

Total factors supplying reserve funds

 7,281,658

-   13,022

-1,073,976

 7,272,252

Currency in circulation12

 2,354,404

+    2,163

+    8,342

 2,358,292

Reverse repurchase agreements13

   938,698

+  113,655

-1,354,624

   811,308

Foreign official and international accounts

   389,205

-      932

+   56,452

   385,410

Others

   549,493

+  114,587

-1,411,076

   425,898

Treasury cash holdings

       408

-        2

+      165

       404

Deposits with F.R. Banks, other than reserve balances

   928,633

-    4,244

+  313,878

   903,880

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   761,373

-    4,044

+  345,932

   745,608

Foreign official

     9,685

+        2

-       46

     9,684

Other14

   157,575

-      202

-   32,009

   148,589

Treasury contributions to credit facilities15

     4,958

         0

-    8,400

     4,958

Other liabilities and capital16

  -129,624

-    6,128

-  102,529

  -128,756

Total factors, other than reserve balances,
absorbing reserve funds

 4,097,478

+  105,445

-1,143,167

 3,950,087

Reserve balances with Federal Reserve Banks

 3,184,180

-  118,467

+   69,191

 3,322,165

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 securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements.

7.

Includes outstanding loans to depository institutions that were subsequently placed into Federal Deposit Insurance Corporation (FDIC) receivership, including depository institutions established by the FDIC. The Federal Reserve Banks' loans to these depository institutions are secured by pledged collateral and the FDIC provides repayment guarantees.

8.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

9.

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.

10.

Includes bank premises, accrued interest, and other accounts receivable.

11.

Revalued daily at current foreign currency exchange rates.

12.

Estimated.

13.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

14.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  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.

15.

Book value. Amount of equity investments in MS Facilities 2020 LLC of $5.0 billion.

16.

Includes the liability for earnings remittances due to the U.S. Treasury.

Securities held in custody for foreign official and international accounts

 3,318,642

+    4,412

-  113,142

 3,318,193

Marketable U.S. Treasury securities1

 2,932,026

+    5,212

-   65,663

 2,931,700

Federal agency debt and mortgage-backed securities2

   306,381

-      444

-   45,698

   306,305

Other securities3

    80,235

-      356

-    1,780

    80,187

Securities lent to dealers

    41,527

+    2,903

-    3,528

    41,982

Overnight facility4

    41,527

+    2,903

-    3,528

    41,982

U.S. Treasury securities

    41,527

+    2,903

-    3,528

    41,982

Federal agency debt securities

         0

         0

         0

         0

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.

Loans1

     3,230

     5,451

   104,382

     2,492

         0

...

   115,555

U.S. Treasury securities2

Holdings

    63,469

   202,631

   538,099

 1,471,141

   646,217

 1,516,338

 4,437,894

Weekly changes

+   17,015

-   16,424

+    2,990

-   18,298

-    1,475

+      516

-   15,677

Federal agency debt securities3

Holdings

         0

         0

         0

       486

     1,861

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

Holdings

         0

         1

        31

     6,295

    26,736

 2,302,933

 2,335,997

Weekly changes

         0

+        1

+        7

+      622

-      147

-      482

         0

Loan participations held by MS

Facilities 2020 LLC (Main Street

Lending Program)5

         0

         0

         0

     6,103

...

...

     6,103

Repurchase agreements6

         4

         0

...

...

...

...

         4

Central bank liquidity swaps7

       211

         0

         0

         0

         0

         0

       211

Reverse repurchase agreements6

   811,308

         0

...

...

...

...

   811,308

Term deposits

         0

         0

         0

...

...

...

         0

1.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF), Bank Term Funding Program, and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities 2020 LLC, which were eliminated when preparing the FRBB's statement of condition, consistent with consolidation under generally accepted accounting principles.

2.

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.

3.

Face value.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5.

Book value of the loan participations held by the MS Facilities 2020 LLC.

6.

Cash value of agreements.

7.

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.

Mortgage-backed securities held outright1

 2,335,997

Residential mortgage-backed securities

 2,327,852

Commercial mortgage-backed securities

     8,144

Commitments to buy mortgage-backed securities2

        81

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

         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. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

MS Facilities 2020 LLC (Main Street Lending Program)

     5,250

     5,194

     5,992

    11,186

1.

Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity.

2.

Outstanding amount of facility asset purchases includes loan participations at face value, net of an allowance for credit losses updated as of March 31, 2024.

3.

Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Refer to the note on consolidation accompanying table 6.

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

    10,200

+    5,000

+    5,000

Coin

     1,424

-       23

+      101

Securities, unamortized premiums and discounts, repurchase agreements, and loans

 7,130,965

-   16,945

-1,061,622

Securities held outright1

 6,776,238

-   15,677

-  870,708

U.S. Treasury securities

 4,437,894

-   15,677

-  668,566

Bills2

   195,293

         0

-   73,635

Notes and bonds, nominal2

 3,772,735

-   15,985

-  588,090

Notes and bonds, inflation-indexed2

   351,086

-       25

-   17,142

Inflation compensation3

   118,780

+      333

+   10,301

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

 2,335,997

         0

-  202,141

Unamortized premiums on securities held outright5

   263,669

-      536

-   31,899

Unamortized discounts on securities held outright5

   -24,501

+      191

+    2,757

Repurchase agreements6

         4

+        3

+        4

Loans7

   115,555

-      926

-  161,777

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

    11,186

+       13

-    8,783

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,595

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,639

Items in process of collection

(0)

        56

+       11

-       13

Bank premises

       422

-       10

-       25

Central bank liquidity swaps9

       211

+       87

-        8

Foreign currency denominated assets10

    17,713

+      110

-      563

Other assets11

    38,306

+    2,114

-    3,645

Total assets

(0)

 7,221,520

-    9,643

-1,076,792

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

 2,307,137

+    5,605

+   10,140

Reverse repurchase agreements12

   811,308

-   68,458

-1,380,012

Deposits

(0)

 4,226,045

+   58,502

+  403,254

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

 3,322,165

+   53,269

+  142,519

U.S. Treasury, General Account

   745,608

+    1,402

+  298,744

Foreign official

     9,684

+        2

-       13

Other13

(0)

   148,589

+    3,830

-   37,994

Deferred availability cash items

(0)

       828

+      393

+      256

Treasury contributions to credit facilities14

     4,958

         0

-    8,400

Other liabilities and accrued dividends15

  -172,054

-    5,690

-  102,912

Total liabilities

(0)

 7,178,222

-    9,647

-1,077,674

Capital accounts

Capital paid in

    36,512

+        4

+      881

Surplus

     6,785

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    43,297

+        4

+      881

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 securities, Federal agency debt securities, and 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.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions.

8.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

9.

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.

10.

Revalued daily at current foreign currency exchange rates.

11.

Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

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, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  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.

Book value. Amount of equity investments in MS Facilities 2020 LLC of $5.0 billion.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.

Assets

Gold certificates and special drawing rights certificates

    21,237

       729

     6,619

       657

       997

     1,557

     2,999

     1,417

       635

       355

       599

     1,786

     2,887

Coin

     1,424

        39

        39

       166

        45

       184

       104

       248

        28

        50

        98

       171

       251

Securities, unamortized premiums and discounts, repurchase agreements,
and loans1

 7,130,965

   158,372

 3,787,817

   107,049

   276,944

   709,464

   479,167

   395,941

   104,272

    49,643

    85,765

   316,461

   660,069

Net portfolio holdings of MS

Facilities 2020 LLC (Main Street

Lending Program)2

    11,186

    11,186

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       211

         9

        73

         7

        22

        42

         7

        10

         5

         1

         2

         5

        27

Foreign currency denominated

assets4

    17,713

       739

     6,127

       624

     1,884

     3,494

       580

       869

       399

       111

       193

       426

     2,267

Other assets5

    38,784

     1,106

    17,661

       690

     1,494

     4,095

     3,589

     2,175

       778

       558

       899

     1,891

     3,849

Interdistrict settlement account

         0

-    3,610

+    7,573

+   18,248

+   25,880

-   68,031

-   12,636

-   37,724

+      376

-    3,499

-   14,737

-    2,411

+   90,570

Total assets

 7,221,520

   168,570

 3,825,909

   127,441

   307,267

   650,805

   473,810

   362,936

   106,492

    47,219

    72,820

   318,329

   759,921

Liabilities

Federal Reserve notes, net

 2,307,137

    87,831

   741,041

    56,661

   115,911

   163,237

   356,715

   112,629

    74,403

    27,953

    35,136

   202,860

   332,759

Reverse repurchase agreements6

   811,308

    16,875

   436,598

    12,088

    31,637

    80,870

    54,280

    44,774

    11,353

     5,068

     8,921

    35,429

    73,416

Deposits

 4,226,045

    59,399

 2,742,197

    58,909

   162,485

   426,315

    60,094

   215,540

    19,586

    13,990

    28,716

    80,030

   358,782

Depository institutions

 3,322,165

    59,346

 1,936,004

    58,908

   162,448

   426,107

    60,065

   118,465

    19,581

    13,900

    28,687

    79,922

   358,731

U.S. Treasury, General Account

   745,608

         0

   745,608

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,684

         2

     9,657

         1

         4

         8

         1

         2

         1

         0

         0

         1

         5

Other7

   148,589

        51

    50,928

         0

        32

       201

        28

    97,073

         4

        90

        28

       108

        46

Earnings remittances due to the U.S. Treasury8

  -179,426

    -3,503

  -111,626

    -1,916

    -7,631

   -28,974

       114

   -12,595

        16

      -186

      -591

    -1,381

   -11,153

Treasury contributions to credit facilities9

     4,958

     4,958

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     8,201

     1,176

     2,831

       182

       294

       814

     1,147

       453

       152

       121

       178

       231

       623

Total liabilities

 7,178,222

   166,737

 3,811,041

   125,924

   302,696

   642,262

   472,350

   360,802

   105,509

    46,947

    72,359

   317,169

   754,427

Capital

Capital paid in

    36,512

     1,550

    12,522

     1,279

     3,849

     7,205

     1,238

     1,801

       830

       230

       387

       996

     4,625

Surplus

     6,785

       283

     2,346

       239

       722

     1,339

       222

       333

       153

        42

        74

       163

       869

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

 7,221,520

   168,570

 3,825,909

   127,441

   307,267

   650,805

   473,810

   362,936

   106,492

    47,219

    72,820

   318,329

   759,921

1.

Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between

the purchase price and the face value of the securities that have not been amortized.  For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities,

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions.

2.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3.

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.

4.

Revalued daily at current foreign currency exchange rates.

5.

Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.

6.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  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.

8.

The Federal Reserve Banks remit residual net earnings to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume.

9.

Book value. Amount of equity investments in MS Facilities 2020 LLC of $5.0 billion.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities 2020 LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities 2020 LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the FRBB.

The FRBNY is the managing member of MLF LLC and TALF II LLC. The FRBB is the managing member of MS Facilities 2020 LLC (Main Street Lending Program). Consistent with generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).

Federal Reserve notes outstanding

 2,761,560

Less: Notes held by F.R. Banks not subject to collateralization

   454,423

Federal Reserve notes to be collateralized

 2,307,137

Collateral held against Federal Reserve notes

 2,307,137

Gold certificate account

    11,037

Special drawing rights certificate account

    10,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

 2,285,900

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

 6,776,242

Less: Face value of securities under reverse repurchase agreements

   959,023

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

 5,817,219

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.