On the Federal Reserve Board’s Web site, http://www.federalreserve.gov , under Economic Research and Data, Statistical Releases, and Historical Data, you will fi nd a weekly release called H.8, “Assets and Liabilities of Commercial Banks in the United States.” For the seven consecutive months shown, look at the trends in:

a. Banks’ holdings of mortgage-backed securities (both “Treasury and Agency”

and “Other”).

b. Cash assets.

Comment on what you see.