Financial and Business Statistics.Guide to Tabular Presentation
SYMBOLS AND ABBREVIATIONS
(c) Corrected
(e) Estimated
n.a. Not available
(p) Preliminary
(r) Revised (Notation appears on column heading
when about half of the figures in that column
are changed.)
* Amounts insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is
millions)
0 Calculated to be zero
... Cell not applicable
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FFB Federal Financing Bank
FHA Federal Housing Administration
FHLBB Federal Home Loan Bank Board
FHLMC Federal Home Loan Mortgage Corporation
FmHA Farmers Home Administration
FNMA Federal National Mortgage Association
FSA Farm Service Agency
FSLIC Federal Savings and Loan Insurance Corporation
G-7 Group of Seven
G-10 Group of Ten
GDP Gross domestic product
GNMA Government National Mortgage Association
HUD Department of Housing and Urban
Development
IMF International Monetary Fund
IOs Interest only, stripped, mortgage-back securities
IPCs Individuals, partnerships, and corporations
IRA Individual retirement account
MMDA Money market deposit account
MSA Metropolitan statistical area
NOW Negotiable order of withdrawal
OCDs Other checkable deposits
OPEC Organization of Petroleum Exporting Countries
OTS Office of Thrift Supervision
PMI Private mortgage insurance
POs Principal only, stripped, mortgage-back securities
REIT Real estate investment trust
REMICs Real estate mortgage investment conduits
RHS Rural Housing Service
RP Repurchase agreement
RTC Resolution Trust Corporation
SCO Securitized credit obligation
SDR Special drawing right
SIC Standard Industrial Classification
VA Department of Veterans Affairs
GENERAL INFORMATION In many of the tables, components do not sum to totals because of rounding. Minus signs are used to indicate (1) a decrease, (2) a negative figure, or (3) an outflow. "U.S. government securities" may include guaranteed issues of U.S. government agencies (the flow of funds figures also include not fully guaranteed issues) as well as direct obligations of the Treasury. "State and local government" also includes municipalities, special districts, and other political subdivisions.
1.10 RESERVES, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted(1)
1999 2000
Monetary or credit
aggregate
Q4 Q1 Q2
Reserves of depository
institutions(2)
1 Total -3.4 1.8 -9.5
2 Required -4.5 .1 -5.9
3 Nonborrowed -3.0 2.4 -11.1
4 Monetary base(3) 20.4 4.3 -3.2
Concepts of money and
debt(4)
5 M1 4.8 .0 -1.2
6 M2 5.2 6.1 6.3
7 M3 10.4(r) 11.(r) 8.5(r)
8 Debt 6.3 5.6 6.2(r)
Nontransaction
components
9 In M2(5) 5.3 8.0 8.6
10 In M3 only(6) 24.8(r) 24.3(r) 13.9(r)
Time and savings
deposits
Commercial hanks
11 Savings, including
MMDAs 4.2 3.6 8.1
12 Small time(7) 7.0 9.3 13.7
13 Large times(8,9) 38.5 22.2 17.7
Thrift institutions
14 Savings, including
MMDAs -3.3 -1.7 1.9
15 Small time(7) 5.1 7.2 3.7
16 Large times(8) 6.0 17.9 -.7
Money market mutual
funds
17 Retail 10.8 19.3 10.9
18 Institution-only 22.0 23.8 13.7
Repurchase agreements
and eurodollars
19 Repurchase 19.5 22.4 10.8
agreements(10)
20 Eurodollars(10) 10.0(r) 41.1(r) 15.4(r)
Debt components(4)
21 Federal -4.4 -4.8 -7.5
22 Nonfederal 9.3 8.4 9.7(r)
2000 2000
Monetary or credit
aggregate
Q3 May June
Reserves of depository
institutions(2)
1 Total -7.1 12.5 -40.6
2 Required -7.5 19.0 -45.1
3 Nonborrowed -8.8 10.9 -44.4
4 Monetary base(3) 2.5 2.5 2.8
Concepts of money and
debt(4)
5 M1 -2.8 -10.9 -1.7
6 M2 4.5 -.5 3.8
7 M3 8.1 3.9(r) 7.7(r)
8 Debt n.a. 5.1(r) 5.6(r)
Nontransaction
components
9 In M2(5) 6.7 2.7 5.4
10 In M3 only(6) 17.0 14.9(r) 17.4(r)
Time and savings
deposits
Commercial hanks
11 Savings, including
MMDAs 10.5 -2.4 7.3
12 Small time(7) 10.3 10.9 17.5
13 Large times(8,9) 9.5 1.7 19.1
Thrift institutions
14 Savings, including
MMDAs 2.5 11.5 -1.9
15 Small time(7) 11.6 7.0 9.2
16 Large times(8) 20.3 -12.7 24.4
Money market mutual
funds
17 Retail -1.2 -1.9 -3.9
18 Institution-only 33.4 17.0 15.5
Repurchase agreements
and eurodollars
19 Repurchase 8.0 33.1 28.8
agreements(10)
20 Eurodollars(10) 1.4) 32.7(r) -5.7(r)
Debt components(4)
21 Federal n.a. -18.1 -8.4
22 Nonfederal n.a. 11.0(r) 9.0(r)
2000
Monetary or credit
aggregate
July(r) Aug.(r) Sept.
Reserves of depository
institutions(2)
1 Total 9.0 -9.4 -2.4
2 Required 9.1 -8.0 -5.6
3 Nonborrowed 6.4 -9.8 .7
4 Monetary base(3) 3.7 .4 2.9
Concepts of money and
debt(4)
5 M1 1.1 -3.7 -6.6
6 M2 3.5 7.3 8.5
7 M3 8.6 9.7 8.0
8 Debt 5.1 5.4 n.a.
Nontransaction
components
9 In M2(5) 4.3 10.5 12.9
10 In M3 only(6) 21.1 15.6 7.0
Time and savings
deposits
Commercial hanks
11 Savings, including
MMDAs 10.1 14.5 22.3
12 Small time(7) 8.2 9.2 3.7
13 Large times(8,9) 9.7 18.5 -20.4
Thrift institutions
14 Savings, including
MMDAs -.5 6.6 3.4
15 Small time(7) 12.0 16.2 9.6
16 Large times(8) 26.4 27.0 10.8
Money market mutual
funds
17 Retail -7.9 5.4 11.7
18 Institution-only 51.8 28.2 32.7
Repurchase agreements
and eurodollars
19 Repurchase 5.9 -16.9 -1.3
agreements(10)
20 Eurodollars(10) -20.5 16.3 21.8
Debt components(4)
21 Federal -3.7 -7.3 n.a.
22 Nonfederal 7.2 8.4 n.a.
(1.) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements. (See also
table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all weekly reporters
whose vault cash exceeds their required reserves) the seasonally
adjusted, break-adjusted difference between current vault cash and
the amount applied to satisfy current reserve requirements.
(4.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs).
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted M1 is computed by summing currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAs), (2) small-denomination time
deposits (time deposits--including retail RPs--in amounts of less than
$100,000), and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds. Seasonally adjusted M2
is calculated by summing savings deposits, small-denomination time
deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3) RP
liabilities (overnight and term) issued by all depository institutions,
and (4) eurodollars (overnight and term) held by U.S. residents at
foreign branches of U.S. banks worldwide and at all banking offices in
the United Kingdom and Canada. Excludes amounts held by depository
institutions, the U.S. government, money market funds, and foreign
banks and official institutions. Seasonally adjusted M3 is calculated
by summing large time deposits, institutional money fund balances, RP
liabilities, and eurodollars, each seasonally adjusted separately, and
adding this result to seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by
depository institutions, and (4) eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT(1)
Millions of dollars
Average of
daily figures
Factor 2000
July Aug. Sept.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 559,982 557,962 561,086
U.S. government
securities(2)
2 Bought outright--System
account(3) 506,116 509,923 510,925
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 140 140 133
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 17,642 12,059 14,427
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 64 24 52
9 Seasonal credit 513 559 424
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 469 896 776
13 Other Federal Reserve
assets 35,038 34,362 34,349
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 4,200 4,200 3,667
16 Treasury currency
outstanding 30,167 30,444 30,687
ABSORBING RESERVE FUNDS
17 Currency in circulation 570,798 569,532 570,465
18 Reverse repurchase
agreements--triparty(4) 0 0 0
19 Treasury cash holdings 85 146 170
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,172 5,047 6,695
21 Foreign 120 87 84
22 Service-related balances
and adjustments 6,784 6,745(r) 6,704
23 Other 233 239 227
24 Other Federal Reserve
liabilities and capital 15,652 15,269 15,260
25 Reserve balances with
Federal Reserve Banks(5) 6,552 6,588(r) 6,881
Average of daily figures for
week ending on date indicated
Factor 2000
Aug. 16 Aug. 23 Aug. 30
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 558,150 557,929 556,799
U.S. government
securities(2)
2 Bought outright--System
account(3) 510,753 509,767 511,147
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 140 140 140
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 10,822 13,281 10,761
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 9 14 54
9 Seasonal credit 539 565 586
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 899 959 492
13 Other Federal Reserve
assets 34,988 33,204 33,619
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 4,200 4,200 4,200
16 Treasury currency
outstanding 30,432 30,471 30,510
ABSORBING RESERVE FUNDS
17 Currency in circulation 570,072 569,067 568,790
18 Reverse repurchase
agreements--triparty(4) 0 0 0
19 Treasury cash holdings 140 157 161
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,226 4,824 5,245
21 Foreign 80 101 77
22 Service-related balances
and adjustments 6,824 6,821(r) 6,693(r)
23 Other 255 234 205
24 Other Federal Reserve
liabilities and capital 15,246 15,234 15,301
25 Reserve balances with
Federal Reserve Banks(5) 5,984 7,208 6,083(r)
Average of daily figures
for week ending on date
indicated
Factor 2000
Sept. 6 Sept. 13 Sept. 20
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 562,878 559,406 562,208
U.S. government
securities(2)
2 Bought outright--System
account(3) 511,123 512,218 509,013
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 140 136 130
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 17,664 11,205 17,286
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 36 4 135
9 Seasonal credit 531 422 384
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -10 1,462 977
13 Other Federal Reserve
assets 33,394 33,959 34,284
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 4,200 4,200 3,343
16 Treasury currency
outstanding 30,549 30,657 30,708
ABSORBING RESERVE FUNDS
17 Currency in circulation 572,637 572,073 569,649
18 Reverse repurchase
agreements--triparty(4) 0 0 0
19 Treasury cash holdings 166 167 164
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,594 4,627 8,574
21 Foreign 74 80 86
22 Service-related balances
and adjustments 6,788(r) 6,588 6,473
23 Other 248 237 199
24 Other Federal Reserve
liabilities and capital 15,156 15,278 15,261
25 Reserve balances with
Federal Reserve Banks(5) 8,011 6,259 6,899
Average of
daily
figures
for week
ending on
date End-of-month
indicated figures
Factor 2000
Sept. 27 July Aug.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 558,792 560,828 562,882(r)
U.S. government
securities(2)
2 Bought outright--System
account(3) 511,153 506,103 510,182
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 130 140 140
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 11,425 17,490 18,525
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 18 45 30
9 Seasonal credit 398 584 567
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 677 1,348 198(r)
13 Other Federal Reserve
assets 34,991 35,119 33,240
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 3,200 4,200 4,200
16 Treasury currency
outstanding 30,759 30,283 30,549
ABSORBING RESERVE FUNDS
17 Currency in circulation 568,349 568,806 571,430
18 Reverse repurchase
agreements--triparty(4) 0 0 0
19 Treasury cash holdings 177 118 166
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 7,357 5,392 5,961
21 Foreign 77 76 79
22 Service-related balances
and adjustments 6,894 6,553 6,788(r)
23 Other 242 228 214
24 Other Federal Reserve
liabilities and capital 15,333 15,331 15,180
25 Reserve balances with
Federal Reserve Banks(5) 5,369 9,852 8,859(r)
End-of-
month
figures Wednesday figures
SUPPLYING RESERVE FUNDS Sept. Aug. 16 Aug. 23
1 Reserve Bank credit
outstanding 565,382 557,033 563,303
U.S. government
securities(2)
2 Bought outright--System
account(3) 511,413 513,023 510,664
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 130 140 140
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 17,320 10,020 18,330
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 4 12 7
9 Seasonal credit 368 545 580
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 372 280 143
13 Other Federal Reserve
assets 35,774 33,012 33,440
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 3,200 4,200 4,200
16 Treasury currency
outstanding 30,811 30,432 30,471
ABSORBING RESERVE FUNDS
17 Currency in circulation 568,612 570,789 569,588
18 Reverse repurchase
agreements--triparty(4) 0 0 0
19 Treasury cash holdings 184 156 161
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 8,459 3,943 5,150
21 Foreign 139 83 71
22 Service-related balances
and adjustments 6,894 6,824 6,821(r)
23 Other 177 259 203
24 Other Federal Reserve
liabilities and capital 15,243 14,908 14,947
25 Reserve balances with
Federal Reserve Banks(5) 10,731 5,748 12,079
Wednesday figures
SUPPLYING RESERVE FUNDS Aug. 30 Sept. 6 Sept. 13
1 Reserve Bank credit
outstanding 559,930 564,390 559,863
U.S. government
securities(2)
2 Bought outright--System
account(3) 513,095 512,447 510,829
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 140 140 130
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 11,935 16,680 11,840
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 20 129 8
9 Seasonal credit 586 504 387
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 319 741 2,508
13 Other Federal Reserve
assets 33,835 33,749 34,161
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 4,200 4,200 4,200
16 Treasury currency
outstanding 30,510 30,549 30,657
ABSORBING RESERVE FUNDS
17 Currency in circulation 570,948 573,995 571,790
18 Reverse repurchase
agreements--triparty(4) 0 0 0
19 Treasury cash holdings 161 168 162
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,948 4,359 5,348
21 Foreign 99 75 74
22 Service-related balances
and adjustments 6,693(r) 6,788 6,588
23 Other 202 247 188
24 Other Federal Reserve
liabilities and capital 14,915 14,928 14,949
25 Reserve balances with
Federal Reserve Banks(5) 6,720(r) 9,625 6,667
Wednesday figures
SUPPLYING RESERVE FUNDS Sept. 20 Sept. 27
1 Reserve Bank credit
outstanding 566,465 561,557
U.S. government
securities(2)
2 Bought outright--System
account(3) 510,434 512,472
3 Held under repurchase
agreements 0 0
Federal agency obligations
4 Bought outright 130 130
5 Held under repurchase
agreements 0 0
6 Repurchase agreements--
triparty(4) 19,885 12,170
7 Acceptances 0 0
Loans to depository
institutions
8 Adjustment credit 908 7
9 Seasonal credit 392 407
10 Special Liquidity
Facility credit 0 0
11 Extended credit 0 0
12 Float 124 642
13 Other Federal Reserve
assets 34,591 35,728
14 Gold stock 11,046 11,046
15 Special drawing rights
certificate account 3,200 3,200
16 Treasury currency
outstanding 30,708 30,759
ABSORBING RESERVE FUNDS
17 Currency in circulation 569,742 569,672
18 Reverse repurchase
agreements--triparty(4) 0 0
19 Treasury cash holdings 175 184
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 7,413 7,986
21 Foreign 66 75
22 Service-related balances
and adjustments 6,473 6,897
23 Other 192 189
24 Other Federal Reserve
liabilities and capital 15,003 15,034
25 Reserve balances with
Federal Reserve Banks(5) 12,355 6,527
(1.) Amounts of cash held as reserves are shown in table 1.12, line 2.
(2.) Includes securities loaned--fully guaranteed by U.S. government
securities pledged with Federal Reserve Banks--and excludes securities
sold and scheduled to be bought back under matched sale-purchase
transactions.
(3.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
(4.) Cash value of agreements arranged through third-party custodial
banks. These agreements are collateralized by U.S. government and
federal agency securities.
(5.) Excludes required clearing balances and adjustments to compensate
for float.
1.12 RESERVES AND BORROWINGS Depository Institutions(1)
Millions of dollars
Prorated monthly averages of
biweekly averages
Reserve classification 1997 1998 1999
Dec. Dec. Dec.
1 Reserve balances with
Reserve Banks(2) 10,664 9,026 5,263
2 Total vault cash(3) 44,742 44,294 60,630
3 Applied vault cash(4) 37,255 36,183 36,392
4 Surplus vault cash(5) 7,486 8,111 24,238
5 Total reserves(6) 47,919 45,209 41,655
6 Required reserves 46,235 43,695 40,348
7 Excess reserve balances
at Reserve Banks(7) 1,685 1,514 1,307
8 Total borrowing at
Reserve Banks 324 117 320
9 Adjustment 245 101 179
10 Seasonal 79 15 67
11 Special Liquidity
Facility(8) ... ... 74
12 Extended credit(9) 0 0 0
Prorated monthly averages of
biweekly averages
Reserve classification 2000
Mar. Apr. May June
1 Reserve balances with
Reserve Banks(2) 6,515 7,081 7,661 6,460
2 Total vault cash(3) 48,952 46,456 44,643 44,560
3 Applied vault cash(4) 33,237 33,512 33,898 32,757
4 Surplus vault cash(5) 15,715 12,944 10,745 11,802
5 Total reserves(6) 39,752 40,593 41,558 39,217
6 Required reserves 38,547 39,448 40,616 38,153
7 Excess reserve balances
at Reserve Banks(7) 1,205 1,145 943 1,064
8 Total borrowing at
Reserve Banks 179 304 362 479
9 Adjustment 101 181 86 90
10 Seasonal 71 120 276 389
11 Special Liquidity
Facility(8) 7 0 ... ...
12 Extended credit(9) 0 0 0 0
Prorated monthly averages of
biweekly averages
Reserve classification 2000
July Aug. Sept.
1 Reserve balances with
Reserve Banks(2) 6,582 6,875(r) 6,826
2 Total vault cash(3) 45,475 45,322 44,802
3 Applied vault cash(4) 33,086 32,611(r) 32,435
4 Surplus vault cash(5) 12,389 12,711(r) 12,367
5 Total reserves(6) 39,668 39,486(r) 39,261
6 Required reserves 38,600 38,471 38,144
7 Excess reserve balances
at Reserve Banks(7) 1,068 1,014(r) 1,117
8 Total borrowing at
Reserve Banks 570 579 477
9 Adjustment 60 25 50
10 Seasonal 510 554 427
11 Special Liquidity
Facility(8) ... ... ...
12 Extended credit(9) 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
2000
May 31 June 14 June 28
1 Reserve balances with
Reserve Banks(2) 7,741 6,498 6,413
2 Total vault cash(3) 45,164 43,847 45,098
3 Applied vault cash(4) 34,458 32,184 33,333
4 Surplus vault cash(5) 10,706 11,663 11,765
5 Total reserves(6) 42,199 38,682 39,746
6 Required reserves 41,223 37,769 38,545
7 Excess reserve balances
at Reserve Banks(7) 976 913 1,200
8 Total borrowing at
Reserve Banks 440 472 471
9 Adjustment 100 134 43
10 Seasonal 340 339 428
11 Special Liquidity
Facility(8) ... ... ...
12 Extended credit(9) 0 0 0
Biweekly averages of daily figures
for two-week periods ending on
dates indicated
2000
July 12 July 26 Aug. 9 Aug. 23
1 Reserve balances with
Reserve Banks(2) 6,524 6,388 7,267 6,603
2 Total vault cash(3) 45,783 44,921 46,291 45,398
3 Applied vault cash(4) 32,742 33,184 33,638 32,195
4 Surplus vault cash(5) 13,041 11,737 12,654 13,204
5 Total reserves(6) 39,266 39,572 40,904 38,797
6 Required reserves 38,103 38,596 39,802 37,818
7 Excess reserve balances
at Reserve Banks(7) 1,162 975 1,102 979
8 Total borrowing at
Reserve Banks 589 549 581 564
9 Adjustment 117 22 27 12
10 Seasonal 472 527 555 552
11 Special Liquidity
Facility(8) ... ... ... ...
12 Extended credit(9) 0 0 0 0
Biweekly averages of daily figures
for two-week periods ending on
dates indicated
2000
Sept. 6(r) Sept. 20 Oct. 4
1 Reserve balances with
Reserve Banks(2) 6,911 6,578 7,123
2 Total vault cash(3) 44,099 44,814 45,208
3 Applied vault cash(4) 32,184 32,077 33,087
4 Surplus vault cash(5) 11,915 12,737 12,121
5 Total reserves(6) 39,095 38,655 40,209
6 Required reserves 38,118 37,612 38,906
7 Excess reserve balances
at Reserve Banks(7) 977 1,043 1,303
8 Total borrowing at
Reserve Banks 604 473 409
9 Adjustment 45 70 26
10 Seasonal 559 403 383
11 Special Liquidity
Facility(8) ... ... ...
12 Extended credit(9) 0 0 0
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to
compensate for float and includes other off-balance-sheet
"as-of" adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It includes
only vault cash held by those banks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current reserve
requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus applied
vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and conditions
established for the Century Date Change Special Liquidity Facility in
effect from October 1, 1999 through April 7, 2000.
(9.) Consists of borrowing at the discount window under the terms and
conditions established for the extended credit program to help
depository institutions deal with sustained liquidity pressures.
Because there is not the same need to repay such borrowing promptly as
with traditional short-term adjustment credit, the money market effect
of extended credit is similar to that of nonborrowed reserves.
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit(1)
Federal Reserve
Bank
On Effective Previous
11/3/00 date rate
Boston 6.00 5/16/00 5.50
New York 6.00 5/19/00 5.50
Philadelphia 6.00 5/18/00 5.50
Cleveland 6.00 5/16/00 5.50
Richmond 6.00 5/16/00 5.50
Atlanta 6.00 5/17/00 5.50
Chicago 6.00 5/17/00 5.50
St. Louis 6.00 5/18/00 5.50
Minneapolis 6.00 5/18/00 5.50
Kansas City 6.00 5/17/00 5.50
Dallas 6.00 5/17/00 5.50
San Francisco 6.00 5/16/00 5.50
Current and previous levels
Seasonal credit(2)
Federal Reserve
Bank
On Effective Previous
11/3/00 date rate
Boston 6.60 10/5/00 6.55
New York 6.60 10/5/00 6.55
Philadelphia 6.60 10/5/00 6.55
Cleveland 6.60 10/5/00 6.55
Richmond 6.60 10/5/00 6.55
Atlanta 6.60 10/5/00 6.55
Chicago 6.60 10/5/00 6.55
St. Louis 6.60 10/5/00 6.55
Minneapolis 6.60 10/5/00 6.55
Kansas City 6.60 10/5/00 6.55
Dallas 6.60 10/5/00 6.55
San Francisco 6.60 10/5/00 6.55
Current and previous levels
Extended credit(3)
Federal Reserve
Bank
On Effective Previous
11/3/00 date rate
Boston 7.10 10/5/00 7.05
New York 7.10 10/5/00 7.05
Philadelphia 7.10 10/5/00 7.05
Cleveland 7.10 10/5/00 7.05
Richmond 7.10 10/5/00 7.05
Atlanta 7.10 10/5/00 7.05
Chicago 7.10 10/5/00 7.05
St. Louis 7.10 10/5/00 7.05
Minneapolis 7.10 10/5/00 7.05
Kansas City 7.10 10/5/00 7.05
Dallas 7.10 10/5/00 7.05
San Francisco 7.10 10/5/00 7.05
Range of rates for adjustment credit in recent years(4)
Range (or F.R. Bank
level)--All of
Effective date F.R. Banks N.Y.
In effect Dec. 31, 1977 6 6
1978-Jan. 9 6-6.5 6.5
20 6.5 6.5
May 11 6.5-7 7
12 7 7
July 3 7-7.25 7.25
10 7.25 7.25
Aug. 21 7.75 7.75
Sept. 22 8 8
Oct. 16 8-8.5 8.5
20 8.5 8.5
Nov. 1 8.5-9.5 9.5
3 9.5 9.5
1979-July 20 10 10
Aug. 17 10-10.5 10.5
20 10.5 10.5
Sept. 19 10.5-11 11
21 11 11
Oct. 8 11-12 12
10 12 12
1980-Feb. 15 12-13 13
19 13 13
May 29 12-13 13
30 12 12
June 13 11-12 11
16 11 11
July 28 10-11 10
29 10 10
Sept. 26 11 11
Nov. 17 12 12
Dec. 5 12-13 13
8 13 13
1981-May 5 13-14 14
8 14 14
Nov. 2 13-14 13
6 13 13
Dec. 4 12 12
1982-July 20 11.5-12 11.5
23 11.5 11.5
Aug. 2 11-11.5 11
3 11 11
16 10.5 10.5
27 10-10.5 10
30 10 10
1982-Oct. 12 9.5-10 9.5
13 9.5 9.5
Nov. 22 9-9.5 9
26 9 9
Dec. 14 8.5-9 9
15 8.5-9 8.5
17 8.5 8.5
1984-Apr. 9 8.5-9 9
13 9 9
Nov. 21 8.5-9 8.5
26 8.5 8.5
Dec. 24 8 8
1985-May 20 7.5-8 7.5
24 7.5 7.5
1986-Mar. 7 7-7.5 7
10 7 7
Apr. 21 6.5-7 6.5
23 6.5 6.5
July 11 6 6
Aug. 21 5.5-6 5.5
22 5.5 5.5
1987-Sept. 4 5.5-6 6
11 6 6
1988-Aug. 9 6-6.5 6.5
11 6.5 6.5
1989-Feb. 24 6.5-7 7
27 7 7
1990-Dec. 19 6.5 6.5
1991-Feb. 1 6-6.5 6
4 6 6
Apr. 30 5.5-6 5.5
May 2 5.5 5.5
Sept. 13 5-5.5 5
17 5 5
Nov. 6 4.5-5 4.5
7 4.5 4.5
Dec. 20 3.5-4.5 3.5
24 3.5 3.5
1992-July 2 3-3.5 3
7 3 3
1994-May 17 3-3.5 3.5
18 3.5 3.5
Aug. 16 3.5-4 4
18 4 4
Nov. 15 4-4.75 4.75
17 4.75 4.75
1995-Feb. 1 4.75-5.25 5.25
9 5.25 5.25
1996-Jan. 31 5.00-5.25 5.00
Feb. 5 5.00 5.00
1998-Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999-Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000-Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
In effect Nov. 3, 2000 6.00 6.00
(1.) Available on a short-term basis to help depository institutions
meet temporary needs for funds that cannot be met through reasonable
alternative sources. The highest rate established for loans to
depository institutions may be charged on adjustment credit loans of
unusual size that result from a major operating problem at the
borrower's facility.
(2.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise from a clear pattern of
intrayearly movements in their deposits and loans and that cannot be
met through special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources of funds
and ordinarily is reestablished on the first business day of each
two-week reserve maintenance period; however, it is never less than
the discount rate applicable to adjustment credit.
(3.) May be made available to depository institutions when similar
assistance is not reasonably available from other sources, including
special industry lenders. Such credit may be provided when exceptional
circumstances (including sustained deposit drains, impaired access to
money market funds, or sudden deterioration in loan repayment
performance) or practices involve only a particular institution, or to
meet the needs of institutions experiencing difficulties adjusting to
changing market conditions over a longer period (particularly at times
of deposit disintermediation). The discount rate applicable to
adjustment credit ordinarily is charged on extended-credit loans
outstanding less than thirty days; however, at the discretion of the
Federal Reserve Bank, this time period may be shortened. Beyond this
initial period, a flexible rate somewhat above rates charged on market
sources of funds is charged. The rate ordinarily is reestablished on
the first business day of each two-week reserve maintenance period, but
it is never less than the discount rate applicable to adjustment credit
plus 50 basis points.
(4.) For earlier data, see the following publications of the Board of
Governors: Banking and Monetary Statistics, 1914-1941, and 1941-1970;
and the Annual Statistical Digest, 1970-1979.
In 1980 and 1981, the Federal Reserve applied a surcharge to short-term
adjustment-credit borrowings by institutions with deposits of $500
million or more that had borrowed in successive weeks or in more than
four weeks in a calendar quarter. A 3 percent surcharge was in effect
from Mar. 17, 1980, through May 7, 1980. A surcharge of 2 percent was
reimposed on Nov. 17, 1980; the surcharge was subsequently raised to 3
percent on Dec. 5, 1980, and to 4 percent on May 5, 1981. The surcharge
was reduced to 3 percent effective Sept. 22, 1981, and to 2 percent
effective Oct. 12, 1981. As of Oct. 1, 1981, the formula for applying
the surcharge was changed from a calendar quarter to a moving
thirteen-week period. The surcharge was eliminated on Nov. 17, 1981.
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS(1)
Requirement
Type of deposit
Percentage of Effective date
deposits
Net transaction accounts(2)
1 $0 million-$42.8 million(3) 3 12/28/00
2 More than $42.8 million(4) 10 12/28/00
3 Nonpersonal time deposits(5) 0 12/27/90
4 Eurocurrency liabilities(6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly,
on a pass-through basis, with certain approved institutions. For
previous reserve requirements, see earlier editions of the Annual
Report or the Federal Reserve Bulletin. Under the Monetary Control
Act of 1980, depository institutions include commercial banks,
savings banks, savings and loan associations, credit unions,
agencies and branches of foreign banks, and Edge Act corporations.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or telephone
or preauthorized transfers for the purpose of making payments to third
persons or others. However, accounts subject to the rules that permit
no more than six preauthorized, automatic, or other transfers per
month (of which no more than three may be by check, draft, debit card,
or similar order payable directly to third parties) are savings
deposits, not transaction accounts.
(3.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change in
transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 28, 2000, for depository institutions that
report weekly, and with the period beginning January 18, 2001, for
institutions that report quarterly, the amount was decreased from
$44.3 million to $42.8 million.
Under the Garn--St Germain Depository Institutions Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
percent reserve requirement each year for the succeeding calendar year
by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual
basis as of June 30. No corresponding adjustment is made in the event
of a decrease. The exemption applies only to accounts that would be
subject to a 3 percent reserve requirement. Effective with the reserve
maintenance period beginning December 28, 2000, for depository
institutions that report weekly, and with the period beginning January
18 2001, for institutions that report quarterly, the exemption was
raised from $5.0 million to $5.5 million.
(4.) The reserve requirement was reduced from 12 percent to 10 percent
on Apr. 2, 1992, for institutions that report weekly, and on Apr. 16,
1992, for institutions that report quarterly.
(5.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1 1/2
years was reduced from 3 percent to 1 1/2 percent for the maintenance
period that began Dec. 13, 1990, and to zero for the maintenance
period that began Dec. 27, 1990. For institutions that report
quarterly, the reserve requirement on nonpersonal time deposits with
an original maturity of less than 1 1/2 years was reduced from 3
percent to zero on Jan. 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1 1/2 years or more has been zero since Oct. 6, 1983.
(6.) The reserve requirement on Eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as the
reserve requirement on nonpersonal time deposits with an original
maturity of less than 1 1/2 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS(l)
Millions of dollars
Type of transaction 1997 1998 1999
and maturity
U.S. TREASURY SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 9,147 3,550 0
2 Gross sales 0 0 0
3 Exchanges 435,907 450,835 464,218
4 For new bills 435,907 450,835 464,218
5 Redemptions 0 2,000 0
Others within one year
6 Gross purchases 5,549 6,297 11,895
7 Gross sales 0 0 0
8 Maturity shifts 41,716 46,062 50,590
9 Exchanges -27,499 -49,434 -53,315
10 Redemptions 1,996 2,676 1,429
One to five years
11 Gross purchases 20,080 12,901 19,731
12 Gross sales 0 0 0
13 Maturity shifts -37,987 -37,777 -44,032
14 Exchanges 20,274 37,154 42,604
Five to ten years
15 Gross purchases 3,449 2,294 4,303
16 Gross sales 0 0 0
17 Maturity shifts -1,954 -5,908 -5,841
18 Exchanges 5,215 7,439 7,583
More than ten years
19 Gross purchases 5,897 4,884 9,428
20 Gross sales 0 0 0
21 Maturity shifts -1,775 -2,377 -717
22 Exchanges 2,360 4,842 3,139
All maturities
23 Gross purchases 44,122 29,926 45,357
24 Gross sales 0 0 0
25 Redemptions 1,996 4,676 1,429
Matched transactions
26 Gross purchases 3,591,210 4,430,457 4,413,430
27 Gross sales 3,593,530 4,434,358 4,431,685
Repurchase agreements
28 Gross purchases 810,485 512,671 281,599
29 Gross sales 809,268 514,186 301,273
30 Net change in U.S. Treasury
securities 41,022 19,835 5,999
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 25 0
33 Redemptions 1,540 322 157
Repurchase agreements
34 Gross purchases 160,409 284,316 360,069
35 Gross sales 159,369 276,266 370,772
36 Net change in federal
agency obligations -500 7,703 -10,859
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 0 0 304,989
40 Gross sales 0 0 164,349
41 Net change in triparty
obligations 0 0 140,640
42 Total net change in System
Open Market Account 40,522 27,538 135,780
2000
Type of transaction
and maturity
Feb. Mar. Apr.
U.S. TREASURY SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 0 0 2,294
2 Gross sales 0 0 0
3 Exchanges 38,607 48,459 37,141
4 For new bills 38,607 48,459 37,141
5 Redemptions 0 198 779
Others within one year
6 Gross purchases 0 0 0
7 Gross sales 0 0 0
8 Maturity shifts 6,877 5,034 0
9 Exchanges -6,688 -3,515 0
10 Redemptions 0 0 568
One to five years
11 Gross purchases 0 740 1,723
12 Gross sales 0 0 0
13 Maturity shifts -5,210 -5,034 0
14 Exchanges 4,348 3,515 0
Five to ten years
15 Gross purchases 0 489 930
16 Gross sales 0 0 0
17 Maturity shifts -949 0 0
18 Exchanges 1,170 0 0
More than ten years
19 Gross purchases 0 330 0
20 Gross sales 0 0 0
21 Maturity shifts -717 0 0
22 Exchanges 1,170 0 0
All maturities
23 Gross purchases 0 1,559 4,947
24 Gross sales 0 0 0
25 Redemptions 0 198 1,347
Matched transactions
26 Gross purchases 340,127 401,404 336,103(r)
27 Gross sales 339,585 401,841 334,751(r)
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S. Treasury
securities 542 923 4,952
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 25 0 10
Repurchase agreements
34 Gross purchases 0 0 0
35 Gross sales 0 0 0
36 Net change in federal
agency obligations -25 0 -10
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 82,998 61,230 79,585
40 Gross sales 81,335 62,253 78,425
41 Net change in triparty
obligations 1,663 -1,023 1,160
42 Total net change in System
Open Market Account 2,180 -100 6,102
2000
Type of transaction
and maturity
May June July Aug.
U.S. TREASURY SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 0 0 1,825 531
2 Gross sales 0 0 0 0
3 Exchanges 36,386 44,008 33,718 42,797
4 For new bills 36,386 44,008 33,718 42,797
5 Redemptions 2,297 4,188 4,902 3,438
Others within one year
6 Gross purchases 164 1,875 1,284 2,770
7 Gross sales 0 0 0 0
8 Maturity shifts 13,063 4,672 5,152 7,040
9 Exchanges -12,633 -3,109 -3,333 -7,396
10 Redemptions 0 0 367 887
One to five years
11 Gross purchases 890 706 2,259 2,508
12 Gross sales 0 0 0 0
13 Maturity shifts -10,334 -4,672 -5,152 -3,439
14 Exchanges 10,063 3,109 3,333 5,418
Five to ten years
15 Gross purchases 0 0 0 1,956
16 Gross sales 0 0 0 0
17 Maturity shifts -1,552 0 0 -3,601
18 Exchanges 2,570 0 0 1,254
More than ten years
19 Gross purchases 528 1,151 500 727
20 Gross sales 0 0 0 0
21 Maturity shifts -1,177 0 0 0
22 Exchanges 0 0 0 724
All maturities
23 Gross purchases 1,582 3,732 5,868 8,492
24 Gross sales 0 0 0 0
25 Redemptions 2,297 4,188 5,269 4,325
Matched transactions
26 Gross purchases 357,355 368,396 344,935 381,349
27 Gross sales 356,640 369,739 344,384 381,475
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S. Treasury
securities -1 -1,800 1,150 4,041
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 0 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0 0
35 Gross sales 0 0 0 0
36 Net change in federal
agency obligations 0 0 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase agreements
39 Gross purchases 107,375 70,850 66,485 47,265
40 Gross sales 105,885 70,315 75,925 46,230
41 Net change in triparty
obligations 1,490 535 -9,440 1,035
42 Total net change in System
Open Market Account 1,489 -1,265 -8,290 5,076
(1.) Sales, redemptions, and negative figures reduce holdings of the
System Open Market Account; all other figures increase such holdings.
(2.) Transactions exclude changes in compensation for the effects of
inflation on the principal of inflation-indexed securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve Note
Statements(1)
Millions of dollars
Wednesday
Account 2000
Aug. 30 Sept. 6 Sept. 13
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,046 11,046 11,046
2 Special drawing rights certificate
account 4,200 4,200 4,200
3 Coin 760 729 735
Loans
4 To depository institutions 606 633 395
5 Other 0 0 0
6 Acceptances held under repurchase
agreements 0 0 0
Triparty Obligations
7 Repurchase agreements--triparty(2) 11,935 16,680 11,840
Federal agency obligations(3)
8 Bought outright 140 140 130
9 Held under repurchase agreements 0 0 0
10 Total U.S. Treasury securities(3) 513,095 512,447 510,829
11 Bought outright(4) 513,095 512,447 510,829
12 Bills 189,260 188,995 186,477
13 Notes 233,656 232,772 233,651
14 Bonds 90,179 90,679 90,700
15 Held under repurchase agreements 0 0 0
16 Total loans and securities 525,776 529,899 523,193
17 Items in process of collection 7,111 11,517 9,980
18 Bank premises 1,412 1,419 1,420
Other assets
19 Denominated in foreign currencies(5) 15,115 15,092 15,097
20 All other(6) 17,339 17,275 17,704
21 Total assets 582,759 591,178 583,375
LIABILITIES
22 Federal Reserve notes 541,360 544,342 542,030
23 Reverse repurchase
agreements--triparty(2) 0 0 0
24 Total deposits 19,761 21,932 18,480
25 Depository institutions 13,511 17,250 12,871
26 U.S. Treasury--General account 5,948 4,359 5,348
27 Foreign--Official accounts 99 75 74
28 Other 202 247 188
29 Deferred credit items 6,724 9,976 7,916
30 Other liabilities and accrued
dividends(7) 4,374 4,427 4,369
31 Total liabilities 572,219 580,677 572,794
CAPITAL ACCOUNTS
32 Capital paid in 6,856 6,874 6,920
33 Surplus 2,679 2,679 2,679
34 Other capital accounts 1,005 948 982
35 Total liabilities and capital
accounts 582,759 591,178 583,375
MEMO
36 Marketable U.S. Treasury securities
held in custody for foreign and
international accounts n.a. n.a. n.a.
Federal Reserve
note statement
37 Federal Reserve notes outstanding
(issued to Banks) 767,117 766,252 765,862
38 LESS: Held by Federal Reserve
Banks 225,757 221,910 223,832
39 Federal Reserve notes, net 541,360 544,342 542,030
Collateral held against notes, net
40 Gold certificate account 11,046 11,046 11,046
41 Special drawing rights certificate
account 4,200 4,200 4,200
42 Other eligible assets 944 0 3,985
43 U.S. Treasury and agency securities 525,170 529,097 522,799
44 Total collateral 541,360 544,342 542,030
Wednesday
Account 2000
Sept. 20 Sept. 27
Consolidated
condition statement
ASSETS
1 Gold certificate account 11,046 11,046
2 Special drawing rights certificate
account 3,200 3,200
3 Coin 765 790
Loans
4 To depository institutions 1,300 414
5 Other 0 0
6 Acceptances held under repurchase
agreements 0 0
Triparty Obligations
7 Repurchase agreements--triparty(2) 19,885 12,170
Federal agency obligations(3)
8 Bought outright 130 130
9 Held under repurchase agreements 0 0
10 Total U.S. Treasury securities(3) 510,434 512,472
11 Bought outright(4) 510,434 512,472
12 Bills 184,032 185,416
13 Notes 235,256 235,724
14 Bonds 91,147 91,332
15 Held under repurchase agreements 0 0
16 Total loans and securities 531,750 525,186
17 Items in process of collection 7,863 7,072
18 Bank premises 1,422 1,425
Other assets
19 Denominated in foreign currencies(5) 15,102 15,777
20 All other(6) 18,175 18,626
21 Total assets 589,323 583,123
LIABILITIES
22 Federal Reserve notes 539,974 539,886
23 Reverse repurchase
agreements--triparty(2) 0 0
24 Total deposits 27,012 21,276
25 Depository institutions 19,341 13,027
26 U.S. Treasury--General account 7,413 7,986
27 Foreign--Official accounts 66 75
28 Other 192 189
29 Deferred credit items 7,334 6,927
30 Other liabilities and accrued
dividends(7) 4,328 4,338
31 Total liabilities 578,648 572,427
CAPITAL ACCOUNTS
32 Capital paid in 6,935 6,949
33 Surplus 2,679 2,679
34 Other capital accounts 1,060 1,067
35 Total liabilities and capital
accounts 589,323 583,123
MEMO
36 Marketable U.S. Treasury securities
held in custody for foreign and
international accounts n.a. n.a.
Federal Reserve
note statement
37 Federal Reserve notes outstanding
(issued to Banks) 765,300 765,043
38 LESS: Held by Federal Reserve
Banks 225,326 225,157
39 Federal Reserve notes, net 539,974 539,886
Collateral held against notes, net
40 Gold certificate account 11,046 11,046
41 Special drawing rights certificate
account 3,200 3,200
42 Other eligible assets 0 869
43 U.S. Treasury and agency securities 525,728 524,772
44 Total collateral 539,974 539,886
End of month
Account 2000
July 31 Aug. 31 Sept. 30
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,046 11,046 11,046
2 Special drawing rights certificate
account 4,200 4,200 3,200
3 Coin 754 760 831
Loans
4 To depository institutions 628 597 372
5 Other 0 0 0
6 Acceptances held under repurchase
agreements 0 0 0
Triparty Obligations
7 Repurchase agreements--triparty(2) 17,490 18,525 17,320
Federal agency obligations(3)
8 Bought outright 140 140 130
9 Held under repurchase agreements 0 0 0
10 Total U.S. Treasury securities(3) 506,103 510,182 511,413
11 Bought outright(4) 506,103 510,182 511,413
12 Bills 190,265 187,232 184,356
13 Notes 228,503 232,770 235,725
14 Bonds 87,335 90,180 91,332
15 Held under repurchase agreements 0 0 0
16 Total loans and securities 524,361 529,444 529,235
17 Items in process of collection 3,414 5,391 5,424
18 Bank premises 1,418 1,421 1,430
Other assets
19 Denominated in foreign currencies(5) 15,092 15,088 15,642
20 All other(6) 18,600 16,755 18,817
21 Total assets 578,886 584,103 585,625
LIABILITIES
22 Federal Reserve notes 539,816 541,806 538,816
23 Reverse repurchase
agreements--triparty(2) 0 0 0
24 Total deposits 22,006 21,855 26,399
25 Depository institutions 16,309 15,601 17,624
26 U.S. Treasury--General account 5,392 5,961 8,459
27 Foreign--Official accounts 76 79 139
28 Other 228 214 177
29 Deferred credit items 2,154 5,263 5,168
30 Other liabilities and accrued
dividends(7) 4,839 4,585 4,447
31 Total liabilities 568,394 573,508 574,830
CAPITAL ACCOUNTS
32 Capital paid in 6,881 6,856 6,933
33 Surplus 2,615 2,679 2,679
34 Other capital accounts 995 1,060 1,184
35 Total liabilities and capital
accounts 578,886 584,103 585,625
MEMO
36 Marketable U.S. Treasury securities
held in custody for foreign and
international accounts n.a. n.a. n.a.
Federal Reserve
note statement
37 Federal Reserve notes outstanding
(issued to Banks) 769,994 766,982 764,756
38 LESS: Held by Federal Reserve
Banks 230,598 225,175 225,940
39 Federal Reserve notes, net 539,396 541,806 538,816
Collateral held against notes, net
40 Gold certificate account 11,046 11,046 11,046
41 Special drawing rights certificate
account 4,200 4,200 3,200
42 Other eligible assets 417 0 0
43 U.S. Treasury and agency securities 523,733 526,560 524,570
44 Total collateral 539,396 541,806 538,816
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Cash value of agreements arranged through third-party custodial
banks.
(3.) Face value of the securities.
(4.) Includes securities loaned--fully guaranteed by U.S. Treasury
securities pledged with Federal Reserve Banks--and includes
compensation that adjusts for the effects of inflation on the
principal of inflation-indexed securities. Excludes securities sold
and scheduled to be bought back under matched sale--purchase
transactions.
(5.) Valued monthly at market exchange rates.
(6.) Includes special investment account at the Federal Reserve Bank
of Chicago in Treasury bills maturing within ninety days.
(7.) Includes exchange-translation account reflecting the monthly
revaluation at market exchange rates of foreign exchange commitments.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loan
and Security Holding
Millions of dollars
Wednesday
Type of holding and maturity 2000
Aug. 30 Sept. 6 Sept. 13
1 Total loans 606 633 395
2 Within fifteen days(1) 538 234 82
3 Sixteen days to ninety days 68 398 313
4 91 days to 1 year 0 0 0
5 Total U.S. Treasury securities(2) 513,095 512,447 510,829
6 Within fifteen days(1) 17,840 15,459 18,333
7 Sixteen days to ninety days 111,192 111,753 110,937
8 Ninety-one days to one year 129,090 131,447 126,872
9 One year to five years 131,290 129,601 130,499
10 Five years to ten years 53,071 53,074 53,075
11 More than ten years 70,613 71,112 71,113
12 Total federal agency obligations 140 140 130
13 Within fifteen days(1) 0 10 0
14 Sixteen days to ninety days 0 0 0
15 Ninety-one days to one year 0 0 0
16 One year to five years 10 10 30
17 Five years to ten years 120 120 100
18 More than ten years 0 0 0
Wednesday
Type of holding and maturity 2000
Sept. 20 Sept. 27
1 Total loans 1,300 415
2 Within fifteen days(1) 1,255 365
3 Sixteen days to ninety days 46 49
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities(2) 510,434 512,472
6 Within fifteen days(1) 17,138 19,796
7 Sixteen days to ninety days 109,017 107,557
8 Ninety-one days to one year 128,256 128,442
9 One year to five years 131,337 131,987
10 Five years to ten years 53,525 53,527
11 More than ten years 71,162 71,162
12 Total federal agency obligations 130 130
13 Within fifteen days(1) 0 0
14 Sixteen days to ninety days 0 0
15 Ninety-one days to one year 0 0
16 One year to five years 30 30
17 Five years to ten years 100 100
18 More than ten years 0 0
End of month
Type of holding and maturity 2000
July 31 Aug. 31 Sept. 30
1 Total loans 577 597 372
2 Within fifteen days(1) 371 398 221
3 Sixteen days to ninety days 206 200 151
4 91 days to 1 year 0 0 0
5 Total U.S. Treasury securities(2) 506,103 510,182 511,413
6 Within fifteen days(1) 13,568 4,891 8,978
7 Sixteen days to ninety days 108,730 111,192 116,776
8 Ninety-one days to one year 136,104 140,813 128,981
9 One year to five years 125,108 129,601 131,987
10 Five years to ten years 53,440 53,072 53,527
11 More than ten years 69,153 70,613 71,162
12 Total federal agency obligations 140 140 130
13 Within fifteen days(1) 0 0 0
14 Sixteen days to ninety days 10 10 0
15 Ninety-one days to one year 0 0 0
16 One year to five years 10 10 30
17 Five years to ten years 120 120 100
18 More than ten years 0 0 0
(1.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE(1)
Billions of dollars, averages of daily figures
Item 1996 1997 1998 1999
Dec. Dec. Dec. Dec.
ADJUSTED FOR CHANGES IN Seasonally adjusted
RESERVE REQUIREMENTS(2)
1 Total reserves(3) 50.17 46.87 45.19 41.74
2 Nonborrowed reserves(4) 50.02 46.54 45.07 41.42
3 Nonborrowed reserves plus
extended credit(5) 50.02 46.54 45.07 41.42
4 Required reserves 48.76 45.18 43.68 40.44
5 Monetary base(6) 451.62 479.17 512.75 591.18
Not seasonally adjusted
6 Total reserves(7) 51.45 48.01 45.31 41.89
7 Nonborrowed reserves 51.30 47.69 45.19 41.57
8 Nonborrowed reserves plus
extended credit(5) 51.30 47.69 45.19 41.57
9 Required reserves(8) 50.04 46.33 43.80 40.58
10 Monetary base(9) 456.63 484.98 518.27 600.63
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS(10)
11 Total reserves(11) 51.17 47.92 45.21 41.66
12 Nonborrowed reserves 51.02 47.60 45.09 41.33
13 Nonborrowed reserves plus
extended credit(5) 51.02 47.60 45.09 41.33
14 Required reserves 49.76 46.24 43.70 40.35
15 Monetary base(12) 463.40 491.79 525.06 607.94
16 Excess reserves(13) 1.42 1.69 1.51 1.31
17 Borrowings from the Federal
Reserve .16 .32 .12 .32
2000
Item
Feb. Mar. Apr. May
ADJUSTED FOR CHANGES IN Seasonally adjusted
RESERVE REQUIREMENTS(2)
1 Total reserves(3) 41.64 40.46 40.93 41.36
2 Nonborrowed reserves(4) 41.53 40.28 40.63 41.00
3 Nonborrowed reserves plus
extended credit(5) 41.53 40.28 40.63 41.00
4 Required reserves 40.53 39.26 39.78 40.41
5 Monetary base(6) 573.59 571.44 573.08 574.29
Not seasonally adjusted
6 Total reserves(7) 42.10 39.76 40.61 41.58
7 Nonborrowed reserves 42.00 39.59 40.31 41.22
8 Nonborrowed reserves plus
extended credit(5) 42.00 39.59 40.31 41.22
9 Required reserves(8) 40.99 38.56 39.47 40.64
10 Monetary base(9) 571.86 570.24 571.51 573.26
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS(10)
11 Total reserves(11) 42.10 39.75 40.59 41.56
12 Nonborrowed reserves 41.99 39.57 40.29 41.20
13 Nonborrowed reserves plus
extended credit(5) 41.99 39.57 40.29 41.20
14 Required reserves 40.99 38.55 39.45 40.62
15 Monetary base(12) 579.21 577.13 578.33 580.09
16 Excess reserves(13) 1.11 1.21 1.15 .94
17 Borrowings from the Federal
Reserve .11 .18 .30 .36
2000
Item
June July Aug.(r) Sept.
ADJUSTED FOR CHANGES IN Seasonally adjusted
RESERVE REQUIREMENTS(2)
1 Total reserves(3) 39.96 40.26 39.94 39.87
2 Nonborrowed reserves(4) 39.48 39.69 39.37 39.39
3 Nonborrowed reserves plus
extended credit(5) 39.48 39.69 39.37 39.39
4 Required reserves 38.89 39.19 38.93 38.75
5 Monetary base(6) 575.63 577.41 577.58 578.96
Not seasonally adjusted
6 Total reserves(7) 39.24 39.70 39.52 39.30
7 Nonborrowed reserves 38.76 39.13 38.94 38.82
8 Nonborrowed reserves plus
extended credit(5) 38.76 39.13 38.94 38.82
9 Required reserves(8) 38.18 38.63 38.50 38.18
10 Monetary base(9) 574.55 577.18 576.48 576.49
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS(10)
11 Total reserves(11) 39.22 39.67 39.49 39.26
12 Nonborrowed reserves 38.74 39.10 38.91 38.78
13 Nonborrowed reserves plus
extended credit(5) 38.74 39.10 38.91 38.78
14 Required reserves 38.15 38.60 38.47 38.14
15 Monetary base(12) 581.44 583.98 583.22 583.18
16 Excess reserves(13) 1.06 1.07 1.01 1.12
17 Borrowings from the Federal
Reserve .48 .57 .58 .48
(1.) Latest monthly and biweekly figures are available from the
Board's H.3 (502) weekly statistical release. Historical data
starting in 1959 and estimates of the effect on required
reserves of changes in reserve requirements are available from
the Money and Reserves Projections Section, Division of Monetary
Affairs, Board of Governors of the Federal Reserve System,
Washington, DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements.
(See also table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves
(line 4) plus excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves equal
seasonally adjusted, break-adjusted total reserves (line 1)
less total borrowings of depository institutions from the
Federal Reserve (line 17).
(5.) Extended credit consists of borrowing at the discount window
under the terms and conditions established for the extended
credit program to help depository institutions deal with sustained
liquidity pressures. Because there is not the same need to repay such
borrowing promptly as with traditional short-term adjustment credit,
the money market effect of extended credit is similar to that of
nonborrowed reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the seasonally adjusted, break-adjusted difference between
current vault cash and the amount applied to satisfy current reserve
requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative
procedure is used to estimate what required reserves would have
been in past periods had current reserve requirements been in effect.
Break-adjusted required reserves include required reserves against
transactions deposits and nonpersonal time and savings deposits
(but not reservable nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of the
money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those
weekly reporters whose vault cash exceeds their required reserves)
the break-adjusted difference between current vault cash and the
amount applied to satisfy current reserve requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in
reserve requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks, plus (3) the currency component of the money stock,
plus (4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to
satisfy current reserve requirements. Since February 1984, currency
and vault cash figures have been measured over the computation
periods ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK AND DEBT MEASURES(1)
Billions of dollars, averages of daily figures
Item 1996 1997 1998
Dec. Dec. Dec.
Seasonally adjusted
Measures(2)
1 M1 1,081.1 1,073.9 1,097.4
2 M2 3,821.6 4,040.2 4,395.0
3 M3 4,952.4 5,403.2 5,996.7
4 Debt 14,430.8 15,223.1 16,276.4
M1 components
5 Currency(3) 394.3 424.8 459.5
6 Travelers checks(4) 8.3 8.1 8.2
7 Demand deposits(5) 402.3 395.3 379.3
8 Other checkable deposits(6) 276.1 245.8 250.3
Nontransaction components
9 In M2(7) 2,740.5 2,966.3 3,297.6
10 In M3 only(8) 1,130.8 1,363.0 1,601.7
Commercial banks
11 Savings deposits,
including MMDAs 904.0 1,020.5 1,184.8
12 Small time deposits(9) 593.3 625.4 626.1
13 Large time deposits(10, 11) 413.9 488.3 539.3
Thrift institutions
14 Savings deposits,
including MMDAs 366.6 376.6 413.8
15 Small time deposits(9) 353.6 342.8 325.6
16 Large time deposits(10) 78.3 85.6 88.9
Money market mutual funds
17 Retail 523.0 601.1 747.4
18 Institution-only 313.3 382.4 520.1
Repurchase agreements
and eurodollars
19 Repurchase agreements(12) 210.7 256.0 300.8
20 Eurodollars(12) 114.6 150.7 152.6
Debt components
21 Federal debt 3,781.3 3,800.6 3,751.2
22 Nonfederal debt 10,649.5 11,422.5 12,525.2
Not seasonally adjusted
Measures(2)
23 M1 1,105.1 1,097.7 1,121.3
24 M2 3,843.8 4,063.4 4,420.2
25 M3 4,973.4 5,427.2 6,026.3
26 Debt 14,428.4 15,218.5 16,271.3(r)
M1 components
27 Currency(3) 397.9 428.9 464.1
28 Travelers checks(4) 8.6 8.3 8.4
29 Demand deposits(5) 419.9 412.4 395.9
30 Other checkable deposits(6) 278.8 248.2 252.8
Nontransaction components
31 In M2(7) 2,738.7 2,965.7 3,298.9
32 In M3 only(8) 1,129.6 1,363.8 1,606.1
Commercial banks
33 Savings deposits,
including MMDAs 903.3 1,020.4 1,186.0
34 Small time deposits(9) 592.7 625.3 626.5
35 Large time deposits(10, 11) 413.2 487.2 537.8
Thrift institutions
36 Savings deposits,
including MMDAs 366.3 376.5 414.2
37 Small time deposits(9) 353.2 342.8 325.8
38 Large time deposits(10) 78.1 85.4 88.6
Money market mutual funds
39 Retail 523.0 600.7 746.3
40 Institution-only 316.9 388.4 529.7
Repurchase agreements
and eurodollars
41 Repurchase agreements(12) 205.7 250.5 295.4
42 Eurodollars(12) 115.7 152.3 154.5
Debt components
43 Federal debt 3,787.9 3,805.8 3,754.9
44 Nonfederal debt 10,640.4 11,412.7 12,516.3
2000
Item 1999
Dec.
June July(r)
Seasonally adjusted
Measures(2)
1 M1 1,122.9 1,103.4 1,104.4
2 M2 4,656.2 4,783.8 4,797.9
3 M3 6,487.4(r) 6,749.7(r) 6,798.3
4 Debt 17,377.2 17,877.2(r) 17,952.5
M1 components
5 Currency(3) 515.5 520.8 522.3
6 Travelers checks(4) 8.3 8.8 9.3
7 Demand deposits(5) 355.2 331.9 332.8
8 Other checkable deposits(6) 244.0 241.8(r) 240.0
Nontransaction components
9 In M2(7) 3,533.3 3,680.4 3,693.5
10 In M3 only(8) 1,831.2(r) 1,965.9(r) 2,000.4
Commercial banks
11 Savings deposits,
including MMDAs 1,285.7 1,330.7 1,341.9
12 Small time deposits(9) 634.7 675.3 679.9
13 Large time deposits(10, 11) 614.1 656.0 661.3
Thrift institutions
14 Savings deposits,
including MMDAs 448.7 452.5 452.3
15 Small time deposits(9) 320.6 329.8 333.1
16 Large time deposits(10) 91.5 95.5 97.6
Money market mutual funds
17 Retail 843.7 892.2 886.3
18 Institution-only 610.1 660.2 688.7
Repurchase agreements
and eurodollars
19 Repurchase agreements(12) 344.2 366.7 368.5
20 Eurodollars(12) 171.3(r) 187.6(r) 184.4
Debt components
21 Federal debt 3,660.2 3,521.2 3,510.2
22 Nonfederal debt 13,717.0(r) 14,355.9(r) 14,442.3
Not seasonally adjusted
Measures(2)
23 M1 1,147.4 1,101.0 1,103.2
24 M2 4,684.5 4,764.3(r) 4,782.2
25 M3 6,522.3(r) 6,726.2(r) 6,758.2
26 Debt 17,372.6 17,810.9(r) 17,880.6
M1 components
27 Currency(3) 521.2 520.3 522.4
28 Travelers checks(4) 8.4 8.7 8.9
29 Demand deposits(5) 371.2 330.0 333.6
30 Other checkable deposits(6) 246.7 242.1 238.3
Nontransaction components
31 In M2(7) 3,537.0 3,663.3 3,678.9
32 In M3 only(8) 1,837.9(r) 1,961.9(r) 1,976.0
Commercial banks
33 Savings deposits,
including MMDAs 1,288.5 1,331.6 1,343.7
34 Small time deposits(9) 635.5 671.1 677.6
35 Large time deposits(10, 11) 612.2 657.6 662.0
Thrift institutions
36 Savings deposits,
including MMDAs 449.7 452.8 452.9
37 Small time deposits(9) 321.0 327.7 332.0
38 Large time deposits(10) 91.2 95.7 97.7
Money market mutual funds
39 Retail 842.4 880.1 872.6
40 Institution-only 621.7 652.9 668.5
Repurchase agreements
and eurodollars
41 Repurchase agreements(12) 339.4 367.9 365.7
42 Eurodollars(12) 173.4(r) 187.9(r) 182.2
Debt components
43 Federal debt 3,663.1 3,475.5 3,448.3
44 Nonfederal debt 13,709.5 14,335.4(r) 14,432.3
2000
Item
Aug.(r) Sept.
Seasonally adjusted
Measures(2)
1 M1 1,101.0 1,094.9
2 M2 4,826.9 4,860.9
3 M3 6,853.3 6,899.1
4 Debt 18,032.6 n.a.
M1 components
5 Currency(3) 523.0 523.9
6 Travelers checks(4) 9.2 8.8
7 Demand deposits(5) 328.1 323.8
8 Other checkable deposits(6) 240.7 238.3
Nontransaction components
9 In M2(7) 3,725.9 3,766.0
10 In M3 only(8) 2,026.4 2,038.2
Commercial banks
11 Savings deposits,
including MMDAs 1,358.1 1,383.3
12 Small time deposits(9) 685.1 687.2
13 Large time deposits(10, 11) 671.5 660.1
Thrift institutions
14 Savings deposits,
including MMDAs 454.8 456.1
15 Small time deposits(9) 337.6 340.3
16 Large time deposits(10) 99.8 100.7
Money market mutual funds
17 Retail 890.3 899.0
18 Institution-only 704.9 724.1
Repurchase agreements
and eurodollars
19 Repurchase agreements(12) 363.3 362.9
20 Eurodollars(12) 186.9 190.3
Debt components
21 Federal debt 3,488.9 n.a.
22 Nonfederal debt 14,543.8 n.a.
Not seasonally
adjusted
Measures(2)
23 M1 1,094.8 1,087.5
24 M2 4,813.6 4,846.8
25 M3 6,825.3 6,867.2
26 Debt 17,969.8 n.a.
M1 components
27 Currency(3) 521.7 522.4
28 Travelers checks(4) 8.9 8.7
29 Demand deposits(5) 326.1 320.7
30 Other checkable deposits(6) 238.1 235.8
Nontransaction components
31 In M2(7) 3,718.9 3,759.3
32 In M3 only(8) 2,011.6 2,020.4
Commercial banks
33 Savings deposits,
including MMDAs 1,355.7 1,380.3
34 Small time deposits(9) 683.1 686.6
35 Large time deposits(10, 11) 669.6 663.1
Thrift institutions
36 Savings deposits,
including MMDAs 454.1 455.1
37 Small time deposits(9) 336.6 340.0
38 Large time deposits(10) 99.5 101.2
Money market mutual funds
39 Retail 889.3 897.3
40 Institution-only 693.6 705.6
Repurchase agreements
and eurodollars
41 Repurchase agreements(12) 363.0 361.8
42 Eurodollars(12) 185.9 188.7
Debt components
43 Federal debt 3,437.7 n.a.
44 Nonfederal debt 14,532.1 n.a.
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section,
Division of Monetary Affairs, Board of Governors of the Federal
Reserve System, Washington, DC 20551.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks,
and the vaults of depository institutions, (2) travelers checks of
nonbank issuers, (3) demand deposits at all commercial banks other
than those owed to depository institutions, the U.S. government, and
foreign banks and official institutions, less cash items in the process
of collection and Federal Reserve float, and (4) other checkable
deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and
automatic transfer service (ATS) accounts at depository institutions,
credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings deposits (including MMDAs),
(2) small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) Eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and Eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data,
which are derived from the Federal Reserve Board's flow of funds
accounts, are break-adjusted (that is, discontinuities in the data
have been smoothed into the series) and month-averaged (that is,
the data have been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks,
and vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks of
nonbank issuers. Travelers checks issued by depository institutions
are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the U.S.
government, and foreign banks and official institutions, less cash
items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) Eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000
or more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government,
and foreign banks and official institutions.
(12.) Includes both overnight and term.
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities(1)
A. All commercial banks
Billions of dollars
Monthly averages
Account 1999 2000
Sept. Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 4,616.3 4,889.5 4,934.8 5,000.2
2 Securities in bank
credit 1,244.7 1,280.7 1,291.5 1,309.0
3 U.S. government
securities 817.7 815.7 814.3 815.5
4 Other securities 426.9 465.0 477.2 493.6
5 Loans and leases in
bank credit(2) 3,371.6 3,608.8 3,643.3 3,691.2
6 Commercial and
industrial 976.4 1,027.9 1,037.5 1,057.6
7 Real estate 1,404.6 1,539.0 1,556.0 1,579.0
8 Revolving home
equity 100.2 109.1 112.6 115.1
9 Other 1,304.4 1,429.9 1,443.4 1,463.9
10 Consumer 482.1 503.3 507.3 510.4
11 Security(3) 118.4 143.3 144.0 145.0
12 Other loans and
leases 390.1 395.3 398.5 399.3
13 Interbank loans 213.5 223.6 221.8 227.0
14 Cash assets(4) 265.8 272.1 281.3 274.3
15 Other assets(5) 359.1 366.1 368.4 377.9
16 Total assets(6) 5,395.7 5,691.8 5,746.4 5,819.2
Liabilities
17 Deposits 3,413.7 3,575.7 3,626.2 3,631.6
18 Transaction 634.7 626.3 626.1 629.7
19 Nontransaction 2,779.0 2,949.4 3,000.1 3,001.9
20 Large time 740.4 851.3 872.1 877.8
21 Other 2,038.6 2,098.1 2,127.9 2,124.1
22 Borrowings 1,045.2 1,157.6 1,186.8 1,200.7
23 From banks in the U.S. 335.8 377.5 377.4 383.8
24 From others 709.4 780.2 809.4 816.9
25 Net due to related
foreign offices 220.0 233.7 226.2 253.6
26 Other liabilities 283.3 293.8 294.2 316.6
27 Total liabilities 4,962.2 5,260.8 5,333.4 5,402.6
28 Residual (assets less
liabilities)(7) 433.4 431.0 413.0 416.5
Not seasonally adjusted
Assets
29 Bank credit 4,603.1 4,883.3 4,935.1 4,992.0
30 Securities in bank
credit 1,238.3 1,282.1 1,293.3 1,306.6
31 U.S. government
securities 809.3 822.7 823.0 820.8
32 Other securities 429.0 459.4 470.3 485.7
33 Loans and leases in
bank credit(2) 3,364.9 3,601.2 3,641.8 3,685.4
34 Commercial and
industrial 972.8 1,031.8 1,044.6 1,060.5
35 Real estate 1,405.1 1,534.2 1,551.5 1,576.4
36 Revolving home
equity 100.8 108.0 111.8 114.7
37 Other 1,304.3 1,426.1 1,439.7 1,461.7
38 Consumer 482.3 501.7 506.2 510.0
39 Credit cards and
related plans n.a. n.a. n.a. n.a.
40 Other n.a. n.a. n.a. n.a.
41 Security(3) 113.1 142.3 144.5 143.5
42 Other loans and
leases 391.5 391.1 395.0 395.1
43 Interbank loans 208.0 229.0 228.0 226.9
44 Cash assets(4) 261.6 263.7 278.5 272.1
45 Other assets(5) 358.1 369.4 371.9 380.9
46 Total assets(6) 5,371.4 5,686.0 5,754.0 5,811.7
Liabilities
47 Deposits 3,399.4 3,579.5 3,644.2 3,617.0
48 Transaction 628.1 619.2 634.7 620.4
49 Nontransaction 2,771.3 2,960.3 3,009.4 2,996.6
50 Large time 731.8 859.7 871.7 874.0
51 Other 2,039.5 2,100.6 2,137.8 2,122.6
52 Borrowings 1,039.4 1,153.3 1,185.9 1,210.2
53 From banks in the U.S. 333.5 377.4 378.9 384.4
54 From others 705.9 775.9 806.9 825.7
55 Net due to related
foreign offices 216.1 237.2 215.5 254.2
56 Other liabilities 282.8 294.5 293.0 315.1
57 Total liabilities 4,937.7 5,264.5 5,338.5 5,396.4
58 Residual (assets less
liabilities)(7) 433.7 421.5 415.5 415.3
Monthly averages
Account 2000
June July Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 5,031.2 5,067.6 5,111.6 5,162.1
2 Securities in bank
credit 1,306.4 1,311.0 1,314.9 1,325.8
3 U.S. government
securities 817.1 819.2 812.5 807.3
4 Other securities 489.3 491.9 502.4 518.5
5 Loans and leases in
bank credit(2) 3,724.8 3,756.6 3,796.7 3,836.3
6 Commercial and
industrial 1,066.0 1,072.1 1,081.2 1,082.2
7 Real estate 1,594.1 1,608.8 1,617.7 1,628.8
8 Revolving home
equity 115.7 117.0 118.3 119.9
9 Other 1,478.4 1,491.8 1,499.5 1,508.9
10 Consumer 517.2 520.8 530.0 533.7
11 Security(3) 149.7 151.8 159.7 183.4
12 Other loans and
leases 397.9 403.1 408.2 408.2
13 Interbank loans 227.7 241.0 246.3 238.3
14 Cash assets(4) 269.1 269.3 269.6 267.7
15 Other assets(5) 380.1 399.1 400.2 399.6
16 Total assets(6) 5,847.6 5,915.3 5,965.0 6,004.6
Liabilities
17 Deposits 3,660.1 3,717.1 3,744.6 3,762.2
18 Transaction 617.3 612.8 618.7 611.1
19 Nontransaction 3,042.7 3,104.4 3,125.8 3,151.1
20 Large time 894.6 915.2 925.0 914.7
21 Other 2,148.1 2,189.1 2,200.8 2,236.5
22 Borrowings 1,202.1 1,220.1 1,226.1 1,220.3
23 From banks in the U.S. 375.8 386.6 386.0 372.5
24 From others 826.3 833.5 840.1 847.8
25 Net due to related
foreign offices 262.6 261.7 269.7 269.0
26 Other liabilities 308.5 301.2 317.3 337.1
27 Total liabilities 5,433.2 5,500.1 5,557.7 5,588.5
28 Residual (assets less
liabilities)(7) 414.4 415.2 407.3 416.1
Not seasonally adjusted
Assets
29 Bank credit 5,014.2 5,036.2 5,082.8 5,148.2
30 Securities in bank
credit 1,296.0 1,293.8 1,302.3 1,320.5
31 U.S. government
securities 816.4 810.7 803.6 799.3
32 Other securities 479.6 483.1 498.7 521.2
33 Loans and leases in
bank credit(2) 3,718.2 3,742.5 3,780.5 3,827.7
34 Commercial and
industrial 1,065.4 1,067.3 1,070.9 1,078.1
35 Real estate 1,590.7 1,605.0 1,617.8 1,629.2
36 Revolving home
equity 115.7 117.1 118.4 120.7
37 Other 1,475.0 1,487.9 1,499.3 1,508.5
38 Consumer 515.3 517.3 528.8 534.4
39 Credit cards and
related plans n.a. 195.8 203.8 207.0
40 Other n.a. 321.5 325.0 327.4
41 Security(3) 149.5 148.9 154.4 176.1
42 Other loans and
leases 397.4 404.0 408.6 409.9
43 Interbank loans 227.4 237.1 236.4 232.1
44 Cash assets(4) 265.2 260.1 257.3 263.4
45 Other assets(5) 381.5 398.5 398.4 398.0
46 Total assets(6) 5,827.8 5,870.1 5,912.1 5,978.4
Liabilities
47 Deposits 3,648.2 3,692.6 3,712.4 3,746.2
48 Transaction 616.3 606.3 603.1 604.8
49 Nontransaction 3,031.9 3,086.3 3,109.3 3,141.4
50 Large time 883.8 898.6 908.1 903.8
51 Other 2,148.1 2,187.7 2,201.2 2,237.6
52 Borrowings 1,205.0 1,206.9 1,198.6 1,215.6
53 From banks in the U.S. 376.7 383.5 381.6 372.0
54 From others 828.4 823.4 817.0 843.6
55 Net due to related
foreign offices 253.0 253.3 267.0 263.9
56 Other liabilities 306.7 298.7 316.8 336.4
57 Total liabilities 5,412.9 5,451.5 5,494.8 5,562.1
58 Residual (assets less
liabilities)(7) 414.9 418.6 417.3 416.4
Wednesday figures
Account 2000
Sept. 6 Sept. 13 Sept. 20 Sept. 27
Seasonally adjusted
Assets
1 Bank credit 5,155.6 5,160.6 5,178.8 5,161.1
2 Securities in bank
credit 1,331.2 1,333.8 1,323.1 1,320.6
3 U.S. government
securities 812.0 811.3 804.0 805.5
4 Other securities 519.2 522.4 519.2 515.1
5 Loans and leases in
bank credit(2) 3,824.4 3,826.9 3,855.6 3,840.5
6 Commercial and
industrial 1,083.9 1,077.7 1,084.9 1,083.4
7 Real estate 1,626.7 1,632.6 1,631.8 1,625.2
8 Revolving home
equity 118.2 120.0 120.5 120.2
9 Other 1,508.5 1,512.6 1,511.3 1,505.0
10 Consumer 533.1 531.4 536.1 534.9
11 Security(3) 170.2 180.9 193.0 188.6
12 Other loans and
leases 410.5 404.3 409.8 408.4
13 Interbank loans 233.4 230.7 247.3 241.8
14 Cash assets(4) 278.6 262.7 278.5 254.4
15 Other assets(5) 396.0 401.6 398.9 396.6
16 Total assets(6) 6,000.2 5,992.5 6,040.2 5,991.0
Liabilities
17 Deposits 3,781.9 3,757.6 3,762.0 3,746.1
18 Transaction 610.1 599.6 621.8 619.2
19 Nontransaction 3,171.7 3,158.0 3,140.2 3,126.9
20 Large time 918.5 917.3 912.6 913.1
21 Other 2,253.3 2,240.6 2,227.6 2,213.8
22 Borrowings 1,212.7 1,225.9 1,237.9 1,210.8
23 From banks in the U.S. 376.9 378.3 368.0 368.9
24 From others 835.8 847.7 869.9 841.8
25 Net due to related
foreign offices 282.6 261.4 270.2 261.1
26 Other liabilities 331.0 341.0 341.2 335.0
27 Total liabilities 5,608.2 5,586.0 5,611.2 5,553.0
28 Residual (assets less
liabilities)(7) 392.1 406.6 429.0 438.0
Not seasonally adjusted
Assets
29 Bank credit 5,131.8 5,141.8 5,168.1 5,151.1
30 Securities in bank
credit 1,325.4 1,327.2 1,317.1 1,316.3
31 U.S. government
securities 805.6 803.2 795.0 797.0
32 Other securities 519.8 524.0 522.1 519.3
33 Loans and leases in
bank credit(2) 3,806.4 3,814.6 3,851.0 3,834.8
34 Commercial and
industrial 1,073.9 1,070.8 1,083.5 1,082.1
35 Real estate 1,626.0 1,633.8 1,631.1 1,625.8
36 Revolving home
equity 118.7 120.8 121.4 121.1
37 Other 1,507.3 1,513.0 1,509.8 1,504.7
38 Consumer 533.1 532.7 538.4 535.7
39 Credit cards and
related plans 206.3 205.8 210.8 207.4
40 Other 326.9 326.8 327.6 328.3
41 Security(3) 159.7 172.1 187.7 181.2
42 Other loans and
leases 413.6 405.2 410.3 410.0
43 Interbank loans 234.6 227.2 237.1 229.1
44 Cash assets(4) 288.8 259.6 265.1 247.2
45 Other assets(5) 401.6 399.9 391.7 394.5
46 Total assets(6) 5,993.3 5,965.0 5,998.6 5,959.0
Liabilities
47 Deposits 3,792.6 3,751.5 3,725.1 3,710.6
48 Transaction 622.3 600.2 600.6 602.7
49 Nontransaction 3,170.3 3,151.4 3,124.4 3,107.9
50 Large time 904.3 904.9 902.1 904.6
51 Other 2,266.0 2,246.5 2,222.4 2,203.3
52 Borrowings 1,184.6 1,201.0 1,254.7 1,226.6
53 From banks in the U.S. 371.4 372.5 374.3 372.5
54 From others 813.2 828.5 880.4 854.2
55 Net due to related
foreign offices 265.5 251.2 266.0 275.7
56 Other liabilities 330.5 340.5 340.1 334.9
57 Total liabilities 5,573.2 5,544.2 5,585.8 5,547.7
58 Residual (assets less
liabilities)(7) 420.0 420.8 412.8 411.3
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 1999 2000
Sept. Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 4,096.9 4,346.0 4,365.2 4,417.1
2 Securities in bank
credit 1,055.3 1,085.1 1,087.1 1,098.5
3 U.S. government
securities 735.0 737.6 734.7 735.8
4 Other securities 320.4 347.4 352.4 362.7
5 Loans and leases in
bank credit(2) 3,041.6 3,260.9 3,278.1 3,318.5
6 Commercial and
industrial 781.6 831.6 838.3 852.6
7 Real estate 1,386.8 1,521.0 1,537.5 1,560.3
8 Revolving home
equity 100.2 109.1 112.6 115.1
9 Other 1,286.6 1,411.9 1,424.9 1,445.2
10 Consumer 482.1 503.3 507.3 510.4
11 Security(3) 66.4 76.8 66.0 64.0
12 Other loans and
leases 324.6 328.2 328.9 331.2
13 Interbank loans 188.5 195.0 192.4 195.2
14 Cash assets(4) 222.5 224.4 233.9 230.3
15 Other assets(5) 328.6 326.8 328.3 336.7
16 Total assets(6) 4,777.8 5,033.2 5,060.4 5,119.4
Liabilities
17 Deposits 3,098.9 3,197.7 3,238.6 3,249.6
18 Transaction 624.4 615.2 615.2 618.5
19 Nontransaction 2,474.4 2,582.5 2,623.4 2,631.1
20 Large time 438.6 487.3 498.5 509.6
21 Other 2,035.8 2,095.2 2,124.9 2,121.5
22 Borrowings 873.1 980.5 987.2 996.3
23 From banks in the U.S. 311.6 357.7 356.5 365.9
24 From others 561.5 622.8 630.6 630.4
25 Net due to related
foreign offices 152.7 213.4 211.0 232.3
26 Other liabilities 219.3 222.5 218.6 234.5
27 Total liabilities 4,343.9 4,614.1 4,655.4 4,712.7
28 Residual (assets less
liabilities)(7) 433.9 419.2 405.0 406.7
Not seasonally adjusted
Assets
29 Bank credit 4,085.6 4,341.2 4,371.9 4,417.2
30 Securities in bank
credit 1,049.7 1,089.5 1,092.6 1,099.1
31 U.S. government
securities 728.6 744.8 742.6 740.1
32 Other securities 321.1 344.7 349.9 359.0
33 Loans and leases in
bank credit(2) 3,035.9 3,251.7 3,279.3 3,318.1
34 Commercial and
industrial 778.1 833.8 847.1 859.8
35 Real estate 1,387.5 1,516.0 1,533.2 1,557.7
36 Revolving home
equity 100.8 108.0 111.8 114.7
37 Other 1,286.7 1,408.0 1,421.5 1,443.1
38 Consumer 482.3 501.7 506.2 510.0
39 Credit cards and
related plans n.a. n.a. n.a. n.a.
40 Other n.a. n.a. n.a. n.a.
41 Security(3) 61.3 75.5 66.6 62.6
42 Other loans and
leases 326.6 324.6 326.1 328.0
43 Interbank loans 183.0 200.5 198.7 195.1
44 Cash assets(4) 219.0 217.1 233.2 229.3
45 Other assets(5) 328.1 328.9 332.6 340.4
46 Total assets(6) 4,756.6 5,028.5 5,077.1 5,122.2
Liabilities
47 Deposits 3,089.3 3,195.4 3,255.6 3,234.1
48 Transaction 617.3 608.3 624.3 609.6
49 Nontransaction 2,472.0 2,587.0 2,631.3 2,624.5
50 Large time 434.8 488.9 496.0 504.3
51 Other 2,037.2 2,098.1 2,135.3 2,120.1
52 Borrowings 867.3 976.2 986.2 1,005.8
53 From banks in the U.S. 309.3 357.7 358.0 366.5
54 From others 558.0 618.5 628.2 639.2
55 Net due to related
foreign offices 149.8 216.4 204.9 237.0
56 Other liabilities 219.1 222.9 219.3 234.5
57 Total liabilities 4,325.5 4,610.8 4,665.9 4,711.3
58 Residual (assets less
liabilities)(7) 431.1 417.8 411.2 410.8
Monthly averages
Account 2000
June July Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 4,455.4 4,491.3 4,529.6 4,572.4
2 Securities in bank
credit 1,101.1 1,105.9 1,108.7 1,121.3
3 U.S. government
securities 738.3 739.5 732.6 729.9
4 Other securities 362.8 366.4 376.2 391.4
5 Loans and leases in
bank credit(2) 3,354.3 3,385.4 3,420.9 3,451.1
6 Commercial and
industrial 860.9 868.5 875.4 878.5
7 Real estate 1,575.0 1,589.9 1,598.9 1,609.4
8 Revolving home
equity 115.7 117.0 118.3 119.9
9 Other 1,459.4 1,472.9 1,480.7 1,489.5
10 Consumer 517.2 520.8 530.0 533.7
11 Security(3) 68.6 70.0 77.4 88.5
12 Other loans and
leases 332.6 336.2 339.1 340.9
13 Interbank loans 199.1 214.8 222.1 212.6
14 Cash assets(4) 224.5 224.4 225.2 223.1
15 Other assets(5) 336.5 356.2 358.1 358.9
16 Total assets(6) 5,155.3 5,225.2 5,272.7 5,304.3
Liabilities
17 Deposits 3,277.6 3,330.5 3,353.0 3,377.8
18 Transaction 605.9 601.4 607.9 601.3
19 Nontransaction 2,671.7 2,729.1 2,745.1 2,776.5
20 Large time 524.6 542.5 547.0 542.9
21 Other 2,147.1 2,186.6 2,198.1 2,233.6
22 Borrowings 996.8 1,014.4 1,024.1 1,002.8
23 From banks in the U.S. 356.9 365.7 369.1 353.3
24 From others 640.0 648.6 654.9 649.5
25 Net due to related
foreign offices 243.1 243.9 246.2 244.8
26 Other liabilities 233.3 228.8 245.7 261.9
27 Total liabilities 4,750.8 4,817.6 4,868.9 4,887.3
28 Residual (assets less
liabilities)(7) 404.5 407.7 403.7 417.1
Not seasonally adjusted
Assets
29 Bank credit 4,448.1 4,470.6 4,510.5 4,559.4
30 Securities in bank
credit 1,096.6 1,095.4 1,101.8 1,115.9
31 U.S. government
securities 737.5 732.0 725.3 723.9
32 Other securities 359.2 363.4 376.5 392.0
33 Loans and leases in
bank credit(2) 3,351.5 3,375.1 3,408.7 3,443.5
34 Commercial and
industrial 863.5 866.2 867.7 874.4
35 Real estate 1,571.8 1,586.4 1,599.2 1,610.1
36 Revolving home
equity 115.7 117.1 118.4 120.7
37 Other 1,456.1 1,469.3 1,480.7 1,489.4
38 Consumer 515.3 517.3 528.8 534.4
39 Credit cards and
related plans n.a. 195.8 203.8 207.0
40 Other n.a. 321.5 325.0 327.4
41 Security(3) 68.2 67.4 72.0 81.4
42 Other loans and
leases 332.7 337.9 341.0 343.1
43 Interbank loans 198.7 210.9 212.2 206.4
44 Cash assets(4) 221.4 216.8 214.5 219.6
45 Other assets(5) 340.3 357.4 357.0 358.1
46 Total assets(6) 5,148.2 5,194.3 5,231.7 5,280.6
Liabilities
47 Deposits 3,270.1 3,314.7 3,332.6 3,368.0
48 Transaction 605.2 595.0 592.2 594.5
49 Nontransaction 2,664.8 2,719.6 2,740.4 2,773.5
50 Large time 519.2 534.4 541.6 538.4
51 Other 2,145.7 2,185.3 2,198.7 2,235.1
52 Borrowings 999.8 1,001.2 996.5 998.1
53 From banks in the U.S. 357.7 362.6 364.7 352.8
54 From others 642.0 638.5 631.9 645.3
55 Net due to related
foreign offices 234.9 236.4 243.6 240.4
56 Other liabilities 233.1 228.0 245.7 261.6
57 Total liabilities 4,737.8 4,780.2 4,818.4 4,868.2
58 Residual (assets less
liabilities)(7) 410.4 414.1 413.3 412.4
Wednesday figures
Account 2000
Sept. 6 Sept. 13 Sept. 20 Sept. 27
Seasonally adjusted
Assets
1 Bank credit 4,565.3 4,566.9 4,581.8 4,576.8
2 Securities in bank
credit 1,119.0 1,123.5 1,121.5 1,120.5
3 U.S. government
securities 731.0 732.3 729.5 727.8
4 Other securities 388.0 391.2 392.1 392.6
5 Loans and leases in
bank credit(2) 3,446.3 3,443.4 3,460.3 3,456.4
6 Commercial and
industrial 878.3 874.6 880.0 880.6
7 Real estate 1,607.6 1,613.2 1,612.2 1,605.9
8 Revolving home
equity 118.2 120.0 120.5 120.2
9 Other 1,489.5 1,493.2 1,491.7 1,485.7
10 Consumer 533.1 531.4 536.1 534.9
11 Security(3) 85.7 87.4 90.3 92.2
12 Other loans and
leases 341.6 336.8 341.7 342.7
13 Interbank loans 209.0 204.5 219.6 217.5
14 Cash assets(4) 233.5 216.8 233.2 211.8
15 Other assets(5) 352.2 359.4 358.1 359.2
16 Total assets(6) 5,297.2 5,284.8 5,329.9 5,302.7
Liabilities
17 Deposits 3,396.0 3,370.1 3,377.2 3,364.0
18 Transaction 600.2 590.1 611.6 610.0
19 Nontransaction 2,795.9 2,780.1 2,765.6 2,754.0
20 Large time 545.2 542.3 541.0 543.2
21 Other 2,250.6 2,237.7 2,224.6 2,210.8
22 Borrowings 1,005.4 1,007.9 1,005.4 998.3
23 From banks in the U.S. 357.3 357.9 346.8 352.5
24 From others 648.1 649.9 658.7 645.8
25 Net due to related
foreign offices 248.1 236.9 251.6 241.1
26 Other liabilities 253.1 262.3 265.5 264.1
27 Total liabilities 4,902.6 4,877.2 4,899.7 4,867.5
28 Residual (assets less
liabilities)(7) 394.6 407.5 430.2 435.2
Not seasonally adjusted
Assets
29 Bank credit 4,548.2 4,552.2 4,571.2 4,562.9
30 Securities in bank
credit 1,115.8 1,118.4 1,114.9 1,113.8
31 U.S. government
securities 727.1 726.5 722.4 721.2
32 Other securities 388.8 392.0 392.5 392.6
33 Loans and leases in
bank credit(2) 3,432.3 3,433.7 3,456.3 3,449.0
34 Commercial and
industrial 870.5 868.8 878.2 877.6
35 Real estate 1,607.3 1,614.8 1,611.8 1,606.6
36 Revolving home
equity 118.7 120.8 121.4 121.1
37 Other 1,488.6 1,494.0 1,490.4 1,485.5
38 Consumer 533.1 532.7 538.4 535.7
39 Credit cards and
related plans 206.3 205.8 210.8 207.4
40 Other 326.9 326.8 327.6 328.3
41 Security(3) 75.8 79.0 84.8 84.8
42 Other loans and
leases 345.6 338.5 343.1 344.3
43 Interbank loans 210.3 200.9 209.4 204.9
44 Cash assets(4) 245.4 215.6 221.0 203.7
45 Other assets(5) 357.9 358.2 352.1 357.9
46 Total assets(6) 5,298.6 5,263.9 5,290.6 5,266.8
Liabilities
47 Deposits 3,417.4 3,373.0 3,346.2 3,329.8
48 Transaction 612.1 590.2 589.9 592.6
49 Nontransaction 2,805.3 2,782.8 2,756.3 2,737.2
50 Large time 541.8 538.8 536.4 536.3
51 Other 2,263.6 2,244.0 2,219.9 2,200.9
52 Borrowings 977.3 982.9 1,022.3 1,014.1
53 From banks in the U.S. 351.8 352.2 353.1 356.1
54 From others 625.5 630.7 669.2 658.1
55 Net due to related
foreign offices 234.8 229.3 247.8 251.4
56 Other liabilities 252.9 262.0 265.3 264.0
57 Total liabilities 4,882.2 4,847.3 4,881.5 4,859.4
58 Residual (assets less
liabilities)(7) 416.1 416.6 409.1 407.5
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 1999 2000
Sept. Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 2,299.1 2,428.5 2,443.0 2,479.8
2 Securities in bank credit 544.0 565.4 568.2 578.6
3 U.S. government
securities 360.7 358.2 356.7 358.5
4 Trading account 20.8 20.5 21.3 23.5
5 Investment account 339.9 337.7 335.4 335.0
6 Other securities 183.3 207.2 211.5 220.1
7 Trading account 77.7 91.1 92.9 101.2
8 Investment account 105.5 116.1 118.6 118.9
9 State and local
government 23.5 24.7 25.1 25.4
10 Other 82.0 91.4 93.5 93.5
11 Loans and leases in bank
credit(2) 1,755.1 1,863.2 1,874.8 1,901.2
12 Commercial and
industrial 537.7 564.3 568.7 580.0
13 Bankers acceptances 1.1 1.0 1.1 1.1
14 Other 536.6 563.3 567.6 579.0
15 Real estate 699.2 764.6 779.2 792.3
16 Revolving home equity 64.7 69.7 72.5 74.2
17 Other 634.5 694.9 706.7 718.1
18 Consumer 217.7 224.0 226.9 227.6
19 Security(3) 60.4 70.3 59.3 57.8
20 Federal funds sold to
and repurchase
agreements with
broker-dealers 43.4 48.9 38.2 38.9
21 Other 17.0 21.4 21.1 18.9
22 State and local
government 11.6 12.4 12.4 12.4
23 Agricultural 8.4 9.5 9.5 9.6
24 Federal funds sold to
and repurchase
agreements with
others 11.2 14.5 13.6 13.2
25 All other loans 94.9 85.6 85.7 87.6
26 Lease-financing
receivables 114.1 118.1 119.4 120.7
27 Interbank loans 125.8 133.0 124.9 130.2
28 Federal funds sold to and
repurchase agreements
with commercial banks 73.0 64.3 62.1 67.0
29 Other 52.8 68.7 62.8 63.2
30 Cash assets(4) 142.3 146.2 154.9 149.4
31 Other assets(5) 232.2 220.4 219.7 223.7
32 Total assets(6) 2,763.9 2,893.6 2,907.8 2,948.4
Liabilities
33 Deposits 1,590.1 1,611.8 1,634.8 1,640.5
34 Transaction 325.3 313.1 311.8 315.6
35 Nontransaction 1,264.7 1,298.7 1,322.9 1,324.9
36 Large time 213.1 235.7 244.2 251.8
37 Other 1,051.6 1,063.0 1,078.7 1,073.1
38 Borrowings 584.6 640.4 649.5 650.9
39 From banks in the U.S. 168.0 194.0 197.7 202.9
40 From others 416.7 446.5 451.8 448.1
41 Net due to related foreign
offices 149.3 208.0 205.6 226.3
42 Other liabilities 161.7 164.0 161.3 174.0
43 Total liabilities 2,485.6 2,624.2 2,651.2 2,691.7
44 Residual (assets less
liabilities)(7) 278.3 269.3 256.6 256.6
Not seasonally adjusted
Assets
45 Bank credit 2,284.0 2,429.9 2,446.3 2,473.1
46 Securities in bank credit 539.4 568.7 569.3 575.4
47 U.S. government
securities 355.2 364.0 361.4 359.5
48 Trading account 20.2 21.4 21.5 22.0
49 Investment account 335.0 342.6 339.8 337.5
50 Mortgage-backed
securities 219.7 223.0 221.5 218.8
51 Other 115.3 119.6 118.4 118.7
52 One year or less 22.3 29.1 29.0 30.7
53 One to five years 55.6 52.9 51.8 51.9
54 More than five
years 37.3 37.6 37.6 36.1
55 Other securities 184.2 204.6 207.9 215.9
56 Trading account 77.7 91.1 92.9 101.2
57 Investment account 106.5 113.6 115.0 114.7
58 State and local
government 23.4 24.8 25.1 25.3
59 Other 83.1 88.8 89.8 89.3
60 Loans and leases in bank
credit(2) 1,744.7 1,861.2 1,877.0 1,897.7
61 Commercial and
industrial 535.5 566.5 575.3 584.5
62 Bankers acceptances 1.1 1.0 1.1 1.1
63 Other 534.4 565.5 574.3 583.4
64 Real estate 697.3 762.8 776.3 789.5
65 Revolving home equity 65.1 68.9 71.8 73.9
66 Other 381.8 420.9 427.2 435.6
67 Commercial 250.4 273.1 277.3 280.0
68 Consumer 216.8 224.2 226.8 227.1
69 Credit cards and
related plans n.a. n.a. n.a. n.a.
70 Other n.a. n.a. n.a. n.a.
71 Security(3) 55.3 69.0 59.8 56.4
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 38.6 47.3 38.2 36.8
73 Other 16.7 21.7 21.6 19.6
74 State and local
government 11.8 12.2 12.3 12.3
75 Agricultural 8.6 9.2 9.3 9.4
76 Federal funds sold to
and repurchase
agreements with
others 11.2 14.5 13.6 13.2
77 All other loans 95.8 83.1 83.6 84.5
78 Lease-financing
receivables 112.5 119.6 120.1 120.7
79 Interbank loans 122.2 135.6 129.7 133.7
80 Federal funds sold to and
repurchase agreements
with commercial banks 70.7 66.2 64.7 67.6
81 Other 51.5 69.4 65.0 66.1
82 Cash assets(4) 139.1 140.8 154.8 148.6
83 Other assets(5) 232.0 222.5 223.0 228.2
84 Total assets(6) 2,741.7 2,894.4 2,919.4 2,948.9
Liabilities
85 Deposits 1,582.2 1,611.6 1,644.5 1,625.7
86 Transaction 320.2 308.5 319.0 309.2
87 Nontransaction 1,262.0 1,303.0 1,325.5 1,316.5
88 Large time 209.3 237.4 241.8 246.5
89 Other 1,052.7 1,065.6 1,083.7 1,070.0
90 Borrowings 575.3 642.4 652.3 659.0
91 From banks in the U.S. 163.7 197.6 201.6 204.1
92 From nonbanks in the U.S. 411.5 444.8 450.7 454.9
93 Net due to related foreign
offices 146.4 211.0 199.6 231.0
94 Other liabilities 161.7 164.0 161.3 174.0
95 Total liabilities 2,465.5 2,628.9 2,657.6 2,689.7
96 Residual (assets less
liabilities)(7) 276.2 265.5 261.8 259.2
Monthly averages
Account 2000
June July Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 2,496.2 2,506.6 2,524.9 2,549.7
2 Securities in bank credit 580.1 577.5 575.5 583.6
3 U.S. government
securities 361.4 362.1 357.9 355.9
4 Trading account 22.7 24.3 23.7 23.2
5 Investment account 338.7 337.8 334.2 332.7
6 Other securities 218.7 215.4 217.6 227.7
7 Trading account 100.2 97.2 102.5 114.5
8 Investment account 118.5 118.1 115.1 113.3
9 State and local
government 25.6 26.1 25.9 25.8
10 Other 92.9 92.0 89.2 87.5
11 Loans and leases in bank
credit(2) 1,916.1 1,929.1 1,949.3 1,966.0
12 Commercial and
industrial 584.2 585.3 589.2 590.3
13 Bankers acceptances 1.0 1.0 .9 .8
14 Other 583.2 584.4 588.3 589.5
15 Real estate 797.8 805.8 810.6 812.2
16 Revolving home equity 74.6 75.5 76.4 74.8
17 Other 723.2 730.3 734.3 737.3
18 Consumer 228.8 230.1 232.8 234.1
19 Security(3) 62.1 63.2 70.2 81.3
20 Federal funds sold to
and repurchase
agreements with
broker-dealers 43.9 44.6 51.5 61.9
21 Other 18.2 18.6 18.7 19.3
22 State and local
government 12.3 12.3 12.4 12.6
23 Agricultural 9.6 9.5 9.6 9.5
24 Federal funds sold to
and repurchase
agreements with
others 13.6 12.9 13.2 12.7
25 All other loans 84.7 84.3 84.2 85.4
26 Lease-financing
receivables 123.0 125.8 127.1 127.9
27 Interbank loans 132.7 140.0 137.9 127.8
28 Federal funds sold to and
repurchase agreements
with commercial banks 68.1 73.8 66.1 56.4
29 Other 64.6 66.2 71.8 71.4
30 Cash assets(4) 145.6 143.6 144.3 141.4
31 Other assets(5) 225.0 245.5 248.2 249.9
32 Total assets(6) 2,964.9 3,000.8 3,019.9 3,033.4
Liabilities
33 Deposits 1,634.0 1,634.4 1,629.8 1,629.3
34 Transaction 308.3 301.8 304.3 300.4
35 Nontransaction 1,325.7 1,332.6 1,325.5 1,328.9
36 Large time 258.5 266.4 265.2 257.1
37 Other 1,067.1 1,066.1 1,060.3 1,071.8
38 Borrowings 655.8 678.2 688.4 672.4
39 From banks in the U.S. 196.7 204.9 207.2 193.8
40 From others 459.0 473.3 481.2 478.6
41 Net due to related foreign
offices 233.9 221.5 222.5 224.4
42 Other liabilities 175.7 179.7 195.8 209.8
43 Total liabilities 2,699.4 2,713.9 2,736.5 2,735.9
44 Residual (assets less
liabilities)(7) 265.5 286.9 283.4 297.5
Not seasonally adjusted
Assets
45 Bank credit 2,483.5 2,485.1 2,502.4 2,532.4
46 Securities in bank credit 573.7 567.9 569.0 579.7
47 U.S. government
securities 358.3 354.9 351.3 350.9
48 Trading account 22.5 22.6 23.0 22.5
49 Investment account 335.9 332.3 328.3 328.4
50 Mortgage-backed
securities 217.4 211.9 207.4 207.7
51 Other 118.4 120.4 120.9 120.7
52 One year or less 30.5 30.5 31.5 32.3
53 One to five years 52.7 53.6 52.6 52.1
54 More than five
years 35.2 36.4 36.8 36.3
55 Other securities 215.4 213.1 217.8 228.8
56 Trading account 100.2 97.2 102.5 114.5
57 Investment account 115.2 115.8 115.2 114.3
58 State and local
government 25.5 25.6 25.6 25.7
59 Other 89.7 90.3 89.7 88.6
60 Loans and leases in bank
credit(2) 1,909.8 1,917.1 1,933.3 1,952.7
61 Commercial and
industrial 584.8 583.0 583.5 587.9
62 Bankers acceptances 1.0 1.0 .9 .8
63 Other 583.8 582.0 582.6 587.1
64 Real estate 793.6 801.2 808.1 809.8
65 Revolving home equity 74.7 75.7 76.7 75.2
66 Other 438.3 445.1 448.9 451.8
67 Commercial 280.5 280.3 282.5 282.8
68 Consumer 227.3 227.6 230.9 233.1
69 Credit cards and
related plans n.a. 72.3 73.4 74.5
70 Other n.a. 155.4 157.5 158.6
71 Security(3) 61.7 60.5 64.8 74.1
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 42.6 41.8 46.5 55.1
73 Other 19.1 18.7 18.3 19.0
74 State and local
government 12.2 12.3 12.6 12.8
75 Agricultural 9.6 9.7 9.7 9.7
76 Federal funds sold to
and repurchase
agreements with
others 13.6 12.9 13.2 12.7
77 All other loans 84.3 85.0 84.4 86.3
78 Lease-financing
receivables 122.9 125.1 126.1 126.3
79 Interbank loans 135.6 140.1 132.0 124.3
80 Federal funds sold to and
repurchase agreements
with commercial banks 68.6 73.2 62.3 54.7
81 Other 67.0 67.0 69.7 69.7
82 Cash assets(4) 143.1 137.4 136.3 138.3
83 Other assets(5) 228.8 244.9 245.4 249.5
84 Total assets(6) 2,956.4 2,972.6 2,980.6 3,008.9
Liabilities
85 Deposits 1,629.1 1,623.9 1,614.1 1,621.6
86 Transaction 307.2 298.1 293.2 295.8
87 Nontransaction 1,322.0 1,325.8 1,320.9 1,325.8
88 Large time 253.1 258.3 259.8 252.6
89 Other 1,068.9 1,067.5 1,061.1 1,073.2
90 Borrowings 656.8 662.6 657.7 662.0
91 From banks in the U.S. 195.9 199.5 199.8 189.7
92 From nonbanks in the U.S. 460.9 463.2 457.9 472.3
93 Net due to related foreign
offices 225.8 214.0 219.9 220.0
94 Other liabilities 175.7 179.7 195.8 209.8
95 Total liabilities 2,687.4 2,680.3 2,687.5 2,713.4
96 Residual (assets less
liabilities)(7) 269.0 292.3 293.1 295.5
Wednesday figures
Account 2000
Sept. Sept. Sept. Sept.
6 13 20 27
Seasonally adjusted
Assets
1 Bank credit 2,548.2 2,548.0 2,558.5 2,550.1
2 Securities in bank credit 581.9 586.7 585.9 581.4
3 U.S. government
securities 354.2 357.2 357.1 355.9
4 Trading account 22.9 24.3 22.9 23.7
5 Investment account 331.3 332.9 334.2 332.1
6 Other securities 227.7 229.4 228.9 225.5
7 Trading account 114.4 115.6 115.2 112.9
8 Investment account 113.4 113.8 113.7 112.6
9 State and local
government 25.8 25.8 25.8 25.8
10 Other 87.6 88.0 87.9 86.8
11 Loans and leases in bank
credit(2) 1,966.3 1,961.4 1,972.6 1,968.7
12 Commercial and
industrial 590.3 587.7 592.6 591.4
13 Bankers acceptances .9 .8 .9 .8
14 Other 589.4 586.8 591.8 590.5
15 Real estate 816.0 817.2 813.3 805.9
16 Revolving home equity 76.4 74.2 74.7 74.3
17 Other 739.6 743.0 738.7 731.6
18 Consumer 233.6 232.5 234.3 235.9
19 Security(3) 78.2 80.0 83.2 85.2
20 Federal funds sold to
and repurchase
agreements with
broker-dealers 59.0 61.7 63.1 65.8
21 Other 19.2 18.2 20.1 19.3
22 State and local
government 12.8 12.5 12.6 12.6
23 Agricultural 9.6 9.4 9.4 9.4
24 Federal funds sold to
and repurchase
agreements with
others 13.4 11.9 12.9 12.5
25 All other loans 84.8 82.6 86.3 88.1
26 Lease-financing
receivables 127.6 127.6 127.9 127.8
27 Interbank loans 126.2 119.6 133.3 131.8
28 Federal funds sold to and
repurchase agreements
with commercial banks 54.3 49.1 61.2 61.2
29 Other 71.9 70.5 72.1 70.6
30 Cash assets(4) 147.9 138.3 151.1 131.0
31 Other assets(5) 243.7 247.8 251.3 251.8
32 Total assets(6) 3,030.3 3,018.3 3,058.7 3,029.3
Liabilities
33 Deposits 1,651.3 1,627.5 1,627.8 1,612.8
34 Transaction 302.3 294.4 308.4 301.2
35 Nontransaction 1,349.0 1,333.1 1,319.4 1,311.7
36 Large time 260.7 256.2 255.6 256.5
37 Other 1,088.2 1,076.9 1,063.8 1,055.2
38 Borrowings 670.8 675.9 676.2 670.6
39 From banks in the U.S. 197.2 198.1 187.2 192.7
40 From others 473.7 477.8 489.0 477.9
41 Net due to related foreign
offices 228.7 216.2 231.4 220.0
42 Other liabilities 202.1 210.4 213.2 211.8
43 Total liabilities 2,752.8 2,730.0 2,748.6 2,715.3
44 Residual (assets less
liabilities)(7) 277.5 288.3 310.1 314.0
Not seasonally adjusted
Assets
45 Bank credit 2,530.2 2,528.8 2,540.3 2,530.0
46 Securities in bank credit 580.7 582.6 579.8 575.9
47 U.S. government
securities 351.9 352.1 350.0 349.7
48 Trading account 23.5 24.1 22.0 21.5
49 Investment account 328.4 328.0 328.0 328.1
50 Mortgage-backed
securities 208.2 207.5 206.4 207.4
51 Other 120.2 120.5 121.6 120.7
52 One year or less 32.3 32.7 32.9 31.5
53 One to five years 52.1 52.1 52.3 52.2
54 More than five
years 35.8 35.7 36.4 37.0
55 Other securities 228.8 230.5 229.8 226.2
56 Trading account 114.4 115.6 115.2 112.9
57 Investment account 114.5 114.9 114.6 113.4
58 State and local
government 25.6 25.6 25.6 25.7
59 Other 88.9 89.2 89.0 87.7
60 Loans and leases in bank
credit(2) 1,949.4 1,946.2 1,960.5 1,954.0
61 Commercial and
industrial 585.2 584.1 591.8 589.5
62 Bankers acceptances .9 .8 .9 .8
63 Other 584.3 583.3 591.0 588.7
64 Real estate 813.8 815.6 809.6 802.6
65 Revolving home equity 76.7 74.7 75.0 74.5
66 Other 454.6 458.0 451.9 445.0
67 Commercial 282.5 282.9 282.7 283.1
68 Consumer 232.4 231.6 233.7 234.9
69 Credit cards and
related plans 73.8 73.6 75.0 75.7
70 Other 158.6 158.1 158.7 159.2
71 Security(3) 68.3 71.6 77.6 77.8
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 50.0 53.5 57.2 58.8
73 Other 18.2 18.1 20.5 19.0
74 State and local
government 13.0 12.7 12.8 12.8
75 Agricultural 9.8 9.6 9.6 9.6
76 Federal funds sold to
and repurchase
agreements with
others 13.4 11.9 12.9 12.5
77 All other loans 87.4 83.2 86.6 88.2
78 Lease-financing
receivables 126.3 125.9 125.9 126.1
79 Interbank loans 123.4 116.2 129.6 128.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 52.3 47.2 59.3 59.6
81 Other 71.1 68.9 70.3 68.4
82 Cash assets(4) 154.1 136.9 142.4 125.5
83 Other assets(5) 245.5 247.2 249.2 251.9
84 Total assets(6) 3,017.2 2,993.3 3,025.9 3,000.1
Liabilities
85 Deposits 1,659.2 1,627.8 1,607.7 1,592.3
86 Transaction 305.6 293.7 295.4 292.8
87 Nontransaction 1,353.6 1,334.2 1,312.2 1,299.5
88 Large time 257.3 252.6 251.0 249.6
89 Other 1,096.3 1,081.6 1,061.3 1,049.9
90 Borrowings 644.5 651.6 681.4 671.7
91 From banks in the U.S. 191.4 191.5 187.3 188.8
92 From nonbanks in the U.S. 453.1 460.0 494.1 482.9
93 Net due to related foreign
offices 215.4 208.6 227.6 230.3
94 Other liabilities 202.1 210.4 213.2 211.8
95 Total liabilities 2,721.2 2,698.5 2,729.9 2,706.2
96 Residual (assets less
liabilities)(7) 296.0 294.7 295.9 293.9
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 1999 2000
Sept. Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 1,797.9 1,917.5 1,922.2 1,937.3
2 Securities in bank
credit 511.4 519.7 518.9 519.9
3 U.S. government
securities 374.3 379.5 378.0 377.3
4 Other securities 137.1 140.3 140.9 142.6
5 Loans and leases in bank
credit(2) 1,286.5 1,397.7 1,403.4 1,417.4
6 Commercial and
industrial 243.9 267.3 269.6 272.6
7 Real estate 687.6 756.5 758.4 767.9
8 Revolving home
equity 35.5 39.4 40.1 40.8
9 Other 652.2 717.1 718.2 727.1
10 Consumer 264.4 279.4 280.4 282.8
11 Security(3) 6.0 6.5 6.7 6.2
12 Other loans and leases 84.5 88.1 88.2 87.8
13 Interbank loans 62.7 62.0 67.5 65.0
14 Cash assets(4) 80.3 78.3 79.0 80.9
15 Other assets(5) 96.5 106.4 108.7 113.0
16 Total assets(6) 2,013.9 2,139.6 2,152.6 2,171.1
Liabilities
17 Deposits 1,508.8 1,585.8 1,603.9 1,609.1
18 Transaction 299.1 302.0 303.4 302.9
19 Nontransaction 1,209.7 1,283.8 1,300.5 1,306.2
20 Large time 225.5 251.6 254.3 257.8
21 Other 984.2 1,032.2 1,046.2 1,048.4
22 Borrowings 288.5 340.1 337.6 345.4
23 From banks in the U.S. 143.7 163.8 158.9 163.1
24 From others 144.8 176.3 178.8 182.4
25 Net due to related foreign
offices 3.4 5.4 5.3 6.0
26 Other liabilities 57.6 58.5 57.3 60.5
27 Total liabilities 1,858.3 1,989.8 2,004.2 2,021.0
28 Residual (assets less
liabilities)(7) 155.6 149.8 148.4 150.1
Not seasonally adjusted
Assets
29 Bank credit 1,801.5 1,911.3 1,925.6 1,944.1
30 Securities in bank
credit 510.3 520.8 523.3 523.7
31 U.S. government
securities 373.4 380.8 381.3 380.6
32 Other securities 136.9 140.0 142.1 143.1
33 Loans and leases in bank
credit(2) 1,291.2 1,390.5 1,402.2 1,420.4
34 Commercial and
industrial 242.6 267.4 271.8 275.3
35 Real estate 690.2 753.2 757.0 768.2
36 Revolving home
equity 35.7 39.2 40.0 40.8
37 Other 654.5 714.0 717.0 727.4
38 Consumer 265.5 277.5 279.4 282.9
39 Credit cards and
related plans n.a. n.a. n.a. n.a.
40 Other n.a. n.a. n.a. n.a.
41 Security(3) 6.0 6.5 6.7 6.2
42 Other loans and leases 86.8 85.9 87.3 87.8
43 Interbank loans 60.7 64.9 69.0 61.4
44 Cash assets(4) 79.9 76.2 78.4 80.7
45 Other assets(5) 96.1 106.4 109.5 112.1
46 Total assets(6) 2,014.9 2,134.2 2,157.8 2,173.3
Liabilities
47 Deposits 1,507.2 1,583.8 1,611.1 1,608.4
48 Transaction 297.2 299.8 305.2 300.5
49 Nontransaction 1,210.0 1,284.0 1,305.8 1,307.9
50 Large time 225.5 251.6 254.3 257.8
51 Other 984.5 1,032.5 1,051.6 1,050.1
52 Borrowings 292.0 333.8 334.0 346.8
53 From banks in the U.S. 145.6 160.1 156.4 162.5
54 From others 146.5 173.7 177.5 184.3
55 Net due to related foreign
offices 3.4 5.4 5.3 6.0
56 Other liabilities 57.4 58.9 58.0 60.5
57 Total liabilities 1,860.0 1,981.9 2,008.3 2,021.6
58 Residual (assets less
liabilities)(7) 154.9 152.3 149.4 151.6
Monthly average
Account 2000
June July Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 1,959.2 1,984.8 2,004.7 2,022.7
2 Securities in bank
credit 521.0 528.4 533.2 537.7
3 U.S. government
securities 376.9 377.4 374.7 374.0
4 Other securities 144.1 151.1 158.5 163.7
5 Loans and leases in bank
credit(2) 1,438.2 1,456.3 1,471.5 1,485.0
6 Commercial and
industrial 276.7 283.2 286.2 288.2
7 Real estate 777.2 784.1 788.3 797.3
8 Revolving home
equity 41.1 41.5 41.9 45.1
9 Other 736.2 742.6 746.4 752.2
10 Consumer 288.4 290.6 297.2 299.6
11 Security(3) 6.5 6.9 7.2 7.3
12 Other loans and leases 89.4 91.5 92.6 92.8
13 Interbank loans 66.4 74.8 84.2 84.9
14 Cash assets(4) 78.8 80.8 80.9 81.7
15 Other assets(5) 111.6 110.6 109.9 109.0
16 Total assets(6) 2,190.4 2,224.5 2,252.8 2,271.0
Liabilities
17 Deposits 1,643.6 1,696.1 1,723.2 1,748.5
18 Transaction 297.5 299.5 303.6 300.9
19 Nontransaction 1,346.1 1,396.5 1,419.6 1,447.5
20 Large time 266.1 276.1 281.8 285.7
21 Other 1,080.0 1,120.4 1,137.8 1,161.8
22 Borrowings 341.1 336.1 335.7 330.5
23 From banks in the U.S. 160.1 160.8 161.9 159.6
24 From others 180.9 175.3 173.7 170.9
25 Net due to related foreign
offices 9.1 22.4 23.7 20.4
26 Other liabilities 57.6 49.1 49.9 52.1
27 Total liabilities 2,051.4 2,103.7 2,132.5 2,151.4
28 Residual (assets less
liabilities)(7) 139.0 120.8 120.3 119.6
Not seasonally adjusted
Assets
29 Bank credit 1,964.6 1,985.5 2,008.1 2,027.0
30 Securities in bank
credit 522.9 527.5 532.7 536.3
31 U.S. government
securities 379.1 377.2 374.0 373.1
32 Other securities 143.8 150.3 158.7 163.2
33 Loans and leases in bank
credit(2) 1,441.7 1,458.0 1,475.4 1,490.8
34 Commercial and
industrial 278.7 283.3 284.2 286.5
35 Real estate 778.3 785.2 791.0 800.4
36 Revolving home
equity 41.0 41.3 41.8 45.5
37 Other 737.3 743.8 749.2 754.9
38 Consumer 288.0 289.6 297.9 301.3
39 Credit cards and
related plans n.a. 123.5 130.4 132.6
40 Other n.a. 166.1 167.5 168.7
41 Security(3) 6.5 6.9 7.2 7.3
42 Other loans and leases 90.2 93.1 94.9 95.4
43 Interbank loans 63.2 70.7 80.2 82.1
44 Cash assets(4) 78.2 79.4 78.2 81.3
45 Other assets(5) 111.4 112.5 111.6 108.6
46 Total assets(6) 2,191.8 2,221.7 2,251.1 2,271.7
Liabilities
47 Deposits 1,640.9 1,690.8 1,718.5 1,746.4
48 Transaction 298.1 296.9 299.1 298.7
49 Nontransaction 1,342.9 1,393.8 1,419.4 1,447.7
50 Large time 266.1 276.1 281.8 285.7
51 Other 1,076.8 1,117.7 1,137.6 1,162.0
52 Borrowings 342.9 338.5 338.8 336.2
53 From banks in the U.S. 161.8 163.2 164.8 163.1
54 From others 181.1 175.4 174.0 173.0
55 Net due to related foreign
offices 9.1 22.4 23.7 20.4
56 Other liabilities 57.4 48.3 49.9 51.8
57 Total liabilities 2,050.4 2,100.0 2,130.9 2,154.8
58 Residual (assets less
liabilities)(7) 141.4 121.7 120.2 116.9
Wednesday figures
Account 2000
Sept. Sept. Sept. Sept.
6 13 20 27
Seasonally adjusted
Assets
1 Bank credit 2,017.1 2,018.8 2,023.3 2,026.8
2 Securities in bank
credit 537.1 536.8 535.6 539.1
3 U.S. government
securities 376.8 375.0 372.4 372.0
4 Other securities 160.3 161.7 163.2 167.1
5 Loans and leases in bank
credit(2) 1,480.0 1,482.1 1,487.7 1,487.7
6 Commercial and
industrial 288.0 287.0 287.4 289.3
7 Real estate 791.6 796.0 798.8 800.0
8 Revolving home
equity 41.8 45.8 45.9 45.9
9 Other 749.8 750.2 753.0 754.1
10 Consumer 299.5 298.9 301.8 299.1
11 Security(3) 7.5 7.4 7.1 7.0
12 Other loans and leases 93.3 92.8 92.6 92.3
13 Interbank loans 82.9 84.9 86.3 85.7
14 Cash assets(4) 85.7 78.6 82.1 80.8
15 Other assets(5) 108.5 111.5 106.8 107.4
16 Total assets(6) 2,266.8 2,266.5 2,271.2 2,273.4
Liabilities
17 Deposits 1,744.8 1,742.7 1,749.4 1,751.2
18 Transaction 297.9 295.7 303.2 308.9
19 Nontransaction 1,446.9 1,447.0 1,446.2 1,442.3
20 Large time 284.5 286.1 285.4 286.7
21 Other 1,162.4 1,160.8 1,160.8 1,155.6
22 Borrowings 334.6 332.0 329.2 327.6
23 From banks in the U.S. 160.2 159.9 159.5 159.8
24 From others 174.4 172.1 169.7 167.9
25 Net due to related foreign
offices 19.4 20.7 20.2 21.1
26 Other liabilities 51.0 51.8 52.3 52.3
27 Total liabilities 2,149.8 2,147.2 2,151.1 2,152.2
28 Residual (assets less
liabilities)(7) 117.1 119.3 120.1 121.2
Not seasonally adjusted
Assets
29 Bank credit 2,018.0 2,023.4 2,030.8 2,032.9
30 Securities in bank
credit 535.1 535.8 535.1 537.9
31 U.S. government
securities 375.2 374.3 372.4 371.5
32 Other securities 159.9 161.5 162.7 166.4
33 Loans and leases in bank
credit(2) 1,482.9 1,487.5 1,495.7 1,495.0
34 Commercial and
industrial 285.4 284.7 286.4 288.1
35 Real estate 793.5 799.2 802.2 804.0
36 Revolving home
equity 42.0 46.2 46.4 46.5
37 Other 751.5 753.0 755.8 757.4
38 Consumer 300.7 301.0 304.7 300.8
39 Credit cards and
related plans 132.4 132.2 135.8 131.7
40 Other 168.2 168.8 168.9 169.1
41 Security(3) 7.5 7.4 7.1 7.0
42 Other loans and leases 95.7 95.2 95.4 95.1
43 Interbank loans 86.9 84.7 79.7 76.9
44 Cash assets(4) 91.4 78.8 78.7 78.2
45 Other assets(5) 112.4 111.1 103.0 106.0
46 Total assets(6) 2,281.4 2,270.6 2,264.7 2,266.7
Liabilities
47 Deposits 1,758.2 1,745.2 1,738.6 1,737.5
48 Transaction 306.5 296.6 294.5 299.8
49 Nontransaction 1,451.7 1,448.6 1,444.0 1,437.7
50 Large time 284.5 286.1 285.4 286.7
51 Other 1,167.3 1,162.5 1,158.6 1,151.0
52 Borrowings 332.8 331.3 340.8 342.4
53 From banks in the U.S. 160.4 160.6 165.8 167.2
54 From others 172.4 170.7 175.0 175.2
55 Net due to related foreign
offices 19.4 20.7 20.2 21.1
56 Other liabilities 50.9 51.5 52.0 52.2
57 Total liabilities 2,161.2 2,148.7 2,151.6 2,153.2
58 Residual (assets less
liabilities)(7) 120.2 121.9 113.2 113.6
E. Foreign-related institutions
Billions of dollars
Monthly averages
Account 1999 2000
Sept. Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 519.4 543.5 569.6 583.2
2 Securities in bank credit 189.3 195.6 204.4 210.5
3 U.S. government securities 82.8 78.1 79.6 79.7
4 Other securities 106.5 117.5 124.8 130.8
5 Loans and leases in bank
credit(2) 330.0 347.9 365.2 372.7
6 Commercial and industrial 194.8 196.3 199.2 204.9
7 Real estate 17.8 18.0 18.4 18.7
8 Security(3) 52.0 66.5 77.9 81.0
9 Other loans and leases 65.5 67.1 69.7 68.0
10 Interbank loans 25.0 28.6 29.4 31.8
11 Cash assets(4) 43.3 47.6 47.4 43.9
12 Other assets(5) 30.5 39.2 40.0 41.1
13 Total assets(6) 617.9 658.6 686.0 699.7
Liabilities
14 Deposits 314.8 378.0 387.5 382.0
15 Transaction 10.2 11.1 10.9 11.2
16 Nontransaction 304.6 366.9 376.7 370.8
17 Borrowings 172.1 177.1 199.6 204.4
18 From banks in the U.S. 24.2 19.7 20.9 17.9
19 From others 147.9 157.4 178.7 186.5
20 Net due to related foreign
offices 67.3 20.3 15.3 21.3
21 Other liabilities 64.1 71.3 75.6 82.2
22 Total liabilities 618.3 646.8 678.1 689.9
23 Residual (assets less
liabilities)(7) -.4 11.8 8.0 9.8
Not seasonally adjusted
Assets
24 Bank credit 517.5 542.1 563.2 574.7
25 Securities in bank credit 188.5 192.7 200.7 207.4
26 U.S. government securities 80.7 77.9 80.3 80.7
27 Trading account 14.9 9.3 11.8 12.3
28 Investment account 65.8 68.6 68.6 68.4
29 Other securities 107.8 114.7 120.4 126.7
30 Trading account 69.2 71.5 76.5 83.0
31 Investment account 38.6 43.2 43.9 43.7
32 Loans and leases in bank
credit(2) 329.0 349.4 362.5 367.3
33 Commercial and industrial 194.7 198.0 197.4 200.7
34 Real estate 17.6 18.1 18.3 18.7
35 Security(3) 51.8 66.8 77.9 80.8
36 Other loans and leases 64.9 66.6 68.8 67.1
37 Interbank loans 25.0 28.6 29.4 31.8
38 Cash assets(4) 42.6 46.6 45.3 42.8
39 Other assets(5) 30.0 40.5 39.3 40.6
40 Total assets(6) 614.9 657.5 676.9 689.5
Liabilities
41 Deposits 310.1 384.1 388.6 382.9
42 Transaction 10.8 10.9 10.5 10.7
43 Nontransaction 299.3 373.2 378.1 372.1
44 Borrowings 172.1 177.1 199.6 204.4
45 From banks in the U.S. 24.2 19.7 20.9 17.9
46 From others 147.9 157.4 178.7 186.5
47 Net due to related foreign
offices 66.3 20.8 10.6 17.1
48 Other liabilities 63.7 71.7 73.7 80.6
49 Total liabilities 612.2 653.7 672.6 685.0
50 Residual (assets less 2.7 3.8 4.3 4.5
liabilities)
MEMO
Large domestically chartered
banks, adjusted for mergers
51 Revaluation gains on
off-balance-sheet items(8) 59.9 65.7 65.1 72.4
52 Revaluation losses on
off-balance-sheet items(8) 59.7 64.0 65.0 72.9
53 Mortage-backed securitiest(9) 249.2 253.5 255.2 252.4
54 Pass-through 170.1 176.5 179.4 177.8
55 CMO, REMIC, and other 79.1 77.0 75.8 74.6
56 Net unrealized gains (losses)
on available-for-sale
securities(10) -7.5 -9.6 -16.3 -16.5
57 Off-shore credit to U.S.
residents(11) 27.8 24.1 24.4 23.5
58 Securitized consumers
loans(12) n.a. n.a. n.a. n.a.
59 Credit cards and related
plans n.a. n.a. n.a. n.a.
60 Other n.a. n.a. n.a. n.a.
61 Securitized business loans(12) n.a. n.a. n.a. n.a.
Small domestically chartered
commercial banks, adjusted
for mergers
62 Mortage-backed securities(9) 199.6 205.5 206.2 205.7
63 Securitized consumer loans(12) n.a. n.a. n.a. n.a.
64 Credit cards and related
plans n.a. n.a. n.a. n.a.
65 Other n.a. n.a. n.a. n.a.
Foreign-related institutions
66 Revaluation gains on
off-balance-sheet items(8) 37.8 39.3 41.7 47.1
67 Revaluation losses on
off-balance-sheet items(8) 36.9 38.3 38.6 44.5
68 Securitized busines loans(12) n.a. n.a. n.a. n.a.
Monthly averages
Account 2000
June July Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 575.8 576.3 582.0 589.7
2 Securities in bank credit 205.4 205.1 206.1 204.5
3 U.S. government securities 78.9 79.7 79.9 77.4
4 Other securities 126.5 125.4 126.2 127.1
5 Loans and leases in bank
credit(2) 370.4 371.1 375.9 385.2
6 Commercial and industrial 205.1 203.5 205.8 203.7
7 Real estate 19.0 18.9 18.8 19.3
8 Security(3) 81.0 81.8 82.2 94.8
9 Other loans and leases 65.2 66.9 69.0 67.3
10 Interbank loans 28.6 26.2 24.2 25.7
11 Cash assets(4) 44.6 44.9 44.4 44.6
12 Other assets(5) 43.5 43.0 42.1 40.6
13 Total assets(6) 692.2 690.0 692.3 700.3
Liabilities
14 Deposits 382.4 386.7 391.6 384.5
15 Transaction 11.4 11.4 10.9 9.8
16 Nontransaction 371.0 375.3 380.7 374.7
17 Borrowings 205.3 205.7 202.0 217.4
18 From banks in the U.S. 18.9 20.8 16.9 19.2
19 From others 186.3 184.9 185.1 198.3
20 Net due to related foreign
offices 19.5 17.8 23.6 24.1
21 Other liabilities 75.1 72.4 71.6 75.2
22 Total liabilities 682.4 682.5 688.8 701.3
23 Residual (assets less
liabilities)(7) 9.9 7.5 3.5 -1.0
Not seasonally adjusted
Assets
24 Bank credit 566.2 565.7 572.3 588.8
25 Securities in bank credit 199.4 198.3 200.5 204.5
26 U.S. government securities 78.9 78.7 78.3 75.3
27 Trading account 11.8 11.8 13.7 14.1
28 Investment account 67.1 66.8 64.6 61.3
29 Other securities 120.5 119.7 122.2 129.2
30 Trading account 77.5 76.8 78.7 87.3
31 Investment account 42.9 42.9 43.6 41.9
32 Loans and leases in bank
credit(2) 366.8 367.3 371.8 384.3
33 Commercial and industrial 201.8 201.1 203.1 203.7
34 Real estate 18.9 18.7 18.6 19.1
35 Security(3) 81.3 81.5 82.4 94.7
36 Other loans and leases 64.7 66.1 67.7 66.8
37 Interbank loans 28.6 26.2 24.2 25.7
38 Cash assets(4) 43.9 43.3 42.9 43.8
39 Other assets(5) 41.3 41.0 41.4 39.9
40 Total assets(6) 679.6 675.8 680.4 697.8
Liabilities
41 Deposits 378.1 378.0 379.8 378.2
42 Transaction 11.1 11.3 10.8 10.3
43 Nontransaction 367.0 366.7 368.9 367.9
44 Borrowings 205.3 205.7 202.0 217.4
45 From banks in the U.S. 18.9 20.8 16.9 19.2
46 From others 186.3 184.9 185.1 198.3
47 Net due to related foreign
offices 18.1 16.9 23.4 23.5
48 Other liabilities 73.6 70.7 71.2 74.8
49 Total liabilities 675.1 671.2 676.4 693.9
50 Residual (assets less 4.5 4.6 4.0 3.9
liabilities)
MEMO
Large domestically chartered
banks, adjusted for mergers
51 Revaluation gains on
off-balance-sheet items(8) 68.3 63.1 66.5 74.4
52 Revaluation losses on
off-balance-sheet items(8) 68.5 62.9 67.3 73.9
53 Mortage-backed securitiest(9) 249.8 242.0 237.5 237.7
54 Pass-through 177.6 172.8 169.5 170.1
55 CMO, REMIC, and other 72.2 69.2 68.0 67.6
56 Net unrealized gains (losses)
on available-for-sale
securities(10) -15.0 -10.8 -11.2 -10.2
57 Off-shore credit to U.S.
residents(11) 22.4 22.2 22.1 22.1
58 Securitized consumers
loans(12) n.a. 87.4 86.7 85.9
59 Credit cards and related
plans n.a. 72.4 72.0 71.8
60 Other n.a. 15.0 14.7 14.2
61 Securitized business loans(12) n.a. n.a. n.a. n.a.
Small domestically chartered
commercial banks, adjusted
for mergers
62 Mortage-backed securities(9) 204.5 204.0 206.8 208.9
63 Securitized consumer loans(12) n.a. 220.2 220.6 221.2
64 Credit cards and related
plans n.a. 211.2 211.7 212.6
65 Other n.a. 9.0 8.8 8.6
Foreign-related institutions
66 Revaluation gains on
off-balance-sheet items(8) 41.1 38.1 39.9 45.4
67 Revaluation losses on
off-balance-sheet items(8) 38.0 35.7 37.7 43.0
68 Securitized busines loans(12) n.a. n.a. n.a. n.a.
Wednesday figures
Account 2000
Sept. Sept. Sept. Sept.
6 13 20 27
Seasonally adjusted
Assets
1 Bank credit 590.2 593.7 596.9 584.3
2 Securities in bank credit 212.2 210.3 201.6 200.1
3 U.S. government securities 81.0 79.1 74.5 77.6
4 Other securities 131.2 131.3 127.1 122.5
5 Loans and leases in bank
credit(2) 378.1 383.4 395.3 384.1
6 Commercial and industrial 205.6 203.0 204.9 202.7
7 Real estate 19.1 19.4 19.6 19.3
8 Security(3) 84.5 93.5 102.7 96.4
9 Other loans and leases 68.9 67.5 68.1 65.7
10 Interbank loans 24.3 26.3 27.7 24.3
11 Cash assets(4) 45.0 45.9 45.2 42.6
12 Other assets(5) 43.8 42.2 40.7 37.4
13 Total assets(6) 703.0 707.8 710.3 688.2
Liabilities
14 Deposits 385.8 387.4 384.8 382.0
15 Transaction 9.9 9.5 10.2 9.1
16 Nontransaction 375.9 377.9 374.6 372.9
17 Borrowings 207.3 218.1 232.4 212.5
18 From banks in the U.S. 19.6 20.3 21.2 16.4
19 From others 187.7 197.7 211.2 196.1
20 Net due to related foreign
offices 34.6 24.5 18.6 20.0
21 Other liabilities 77.9 78.8 75.7 70.9
22 Total liabilities 705.6 708.7 711.5 685.4
23 Residual (assets less
liabilities)(7) -2.5 -1.0 -1.2 2.8
Not seasonally adjusted
Assets
24 Bank credit 583.6 589.6 597.0 588.2
25 Securities in bank credit 209.5 208.7 202.2 202.4
26 U.S. government securities 78.6 76.7 72.6 75.8
27 Trading account 14.7 12.8 12.8 16.5
28 Investment account 63.8 63.9 59.8 59.3
29 Other securities 131.0 132.0 129.6 126.7
30 Trading account 87.8 89.2 88.3 85.5
31 Investment account 43.2 42.8 41.3 41.2
32 Loans and leases in bank
credit(2) 374.1 380.9 394.8 385.8
33 Commercial and industrial 203.4 202.0 205.3 204.5
34 Real estate 18.7 19.0 19.4 19.2
35 Security(3) 83.9 93.2 102.9 96.4
36 Other loans and leases 68.1 66.7 67.2 65.7
37 Interbank loans 24.3 26.3 27.7 24.3
38 Cash assets(4) 43.4 44.0 44.1 43.5
39 Other assets(5) 43.7 41.7 39.6 36.6
40 Total assets(6) 694.7 701.1 708.0 692.2
Liabilities
41 Deposits 375.2 378.5 378.8 380.8
42 Transaction 10.2 9.9 10.7 10.1
43 Nontransaction 365.0 368.6 368.1 370.7
44 Borrowings 207.3 218.1 232.4 212.5
45 From banks in the U.S. 19.6 20.3 21.2 16.4
46 From others 187.7 197.7 211.2 196.1
47 Net due to related foreign
offices 30.7 21.9 18.2 24.2
48 Other liabilities 77.5 78.5 74.8 70.9
49 Total liabilities 690.8 697.0 704.3 688.4
50 Residual (assets less 3.9 4.2 3.7 3.8
liabilities)
MEMO
Large domestically chartered
banks, adjusted for mergers
51 Revaluation gains on
off-balance-sheet items(8) 75.3 74.9 74.2 72.8
52 Revaluation losses on
off-balance-sheet items(8) 73.2 73.9 74.1 72.8
53 Mortage-backed securitiest(9) 238.3 237.6 236.5 237.1
54 Pass-through 170.2 169.4 168.6 170.6
55 CMO, REMIC, and other 68.1 68.2 67.9 66.5
56 Net unrealized gains (losses)
on available-for-sale
securities(10) -10.3 -10.1 -10.4 -10.3
57 Off-shore credit to U.S.
residents(11) 22.1 21.9 22.2 22.3
58 Securitized consumers
loans(12) 86.6 86.7 86.2 86.1
59 Credit cards and related
plans 72.3 72.5 71.9 71.9
60 Other 14.3 14.2 14.2 14.2
61 Securitized business loans(12) n.a. n.a. n.a. n.a.
Small domestically chartered
commercial banks, adjusted
for mergers
62 Mortage-backed securities(9) 209.9 209.5 207.5 208.1
63 Securitized consumer loans(12) 221.4 221.8 220.5 221.1
64 Credit cards and related
plans 212.7 213.2 211.9 212.6
65 Other 8.7 8.6 8.6 8.5
Foreign-related institutions
66 Revaluation gains on
off-balance-sheet items(8) 44.6 47.6 46.0 45.0
67 Revaluation losses on
off-balance-sheet items(8) 42.5 45.9 43.6 41.3
68 Securitized busines loans(12) n.a. n.a. n.a. n.a.
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect
changes in the Board's H.8 statistical release, "Assets and
Liabilities of Commercial Banks in the United States." Table 1.27,
"Assets and Liabilities of Large Weekly Reporting Commercial Banks,"
and table 1.28, "Large Weekly Reporting U.S. Branches and Agencies
of Foreign Banks," are no longer being published in the Bulletin.
Instead, abbreviated balance sheets for both large and small
domestically chartered banks have been included in table 1.26, parts
C and D. Data are both merger-adjusted and break-adjusted. In
addition, data from large weekly reporting U.S. branches and
agencies of foreign banks have been replaced by balance sheet
estimates of all foreign-related institutions and are included in
table 1.26, part E. These data are break-adjusted.
The not-seasonally-adjusted data for all tables now contain
additional balance sheet items, which were available as of October
2, 1996.
(1.) Covers the following types of institutions in the fifty states
and the District of Columbia: domestically chartered commercial
banks that submit a weekly report of condition (large domestic);
other domestically chartered commercial banks (small domestic);
branches and agencies of foreign banks, and Edge Act and agreement
corporations (foreign-related institutions). Excludes International
Banking Facilities. Data are Wednesday values or pro rata averages
of Wednesday values. Large domestic banks constitute a universe;
data for small domestic banks and foreign-related institutions are
estimates based on weekly samples and on quarter-end condition
reports. Data are adjusted for breaks caused by reclassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19
are adjusted to remove the estimated effects of mergers between
these two groups. The adjustment for mergers changes past levels to
make them comparable with current levels. Estimated quantities of
balance sheet items acquired in mergers are removed from past data
for the bank group that contained the acquired bank and put into
past data for the group containing the acquiring bank. Balance sheet
data for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans
made to commercial banks in the United States, all of which are
included in "Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due from
Federal Reserve Banks.
(5.) Excludes the due-from position with related-foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported gross of
these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally
adjusted basis this item reflects any differences in the seasonal
patterns estimated for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private
entities.
(10.) Difference between fair value and historical cost for
securities classified as available-for-sale under FASB Statement No.
115. Data are reported net of tax effects. Data shown are restated
to include an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER AND BANKERS DOLLAR ACCEPTANCES OUTSTANDING
A. Commercial Paper
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item
1995 1996 1997
1 All issuers 674,904 775,371 966,699
Financial companies(1)
2 Dealer-placed paper, total(2) 275,815 361,147 513,307
3 Directly placed paper, total(3) 210,829 229,662 252,536
4 Nonfinancial companies(4) 188,260 184,563 200,857
Year ending December
Item
1998 1999
1 All issuers 1,163,303 1,403,023
Financial companies(1)
2 Dealer-placed paper, total(2) 614,142 786,643
3 Directly placed paper, total(3) 322,030 337,240
4 Nonfinancial companies(4) 227,132 279,140
2000
Item
Mar. Apr. May
1 All issuers 1,449,143 1,465,697 1,497,712
Financial companies(1)
2 Dealer-placed paper, total(2) 849,198 860,843 884,299
3 Directly placed paper, total(3) 302,885 294,328 302,305
4 Nonfinancial companies(4) 297,060 310,526 311,109
2000
Item
June July Aug.
1 All issuers 1,516,205 1,551,668 1,559,054
Financial companies(1)
2 Dealer-placed paper, total(2) 884,578 900,651 905,634
3 Directly placed paper, total(3) 300,718 309,076 303,307
4 Nonfinancial companies(4) 330,909 341,941 350,113
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal, and mortgage financing;
factoring, finance leasing, and other business lending; insurance
underwriting; and other investment activities.
(2.) Includes all financial-company paper sold by dealers in the
open market.
(3.) As reported by financial companies that place their paper
directly with investors.
(4.) Includes public utilities and firms engaged primarily in such
activities as communications, construction, manufacturing, mining,
wholesale and retail trade, transportation, and
services.
B. Bankers Dollar Acceptances(1)
Millions of dollars, not seasonally adjusted, year ending September(2)
Item 1997 1998 1999 2000
1 Total amount of reporting banks'
acceptances in existence 25,774 14,363 10,094 9,881
2 Amount of other banks' eligible
acceptances held by reporting
banks 736 523 461 462
3 Amount of own eligible
acceptances held by reporting
banks (included in item 1): 6,862 4,884 4,261 3,789
4 Amount of eligible acceptances
representing goods stored in,
or shipped between, foreign
countries (included in item 1) 10,467 5,413 3,498 3,689
(1.) Includes eligible, dollar-denominated bankers acceptances legally
payable in the United States. Eligible acceptances are those that
are eligible for discount by Federal Reserve Banks; that is, those
acceptances that meet the criteria of Paragraph 7 of Section 13 of
the Federal Reserve Act (12 U.S.C. [sections] 372).
(2.) Data on bankers dollar acceptances are gathered from
approximately 40 institutions; includes U.S. chartered commercial
banks (domestic and foreign offices), U.S. branches and agencies
of foreign banks, and Edge and agreement corporations. The reporting
group is revised every year.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans(1)
Percent per year
Date of change Rate
1997--Jan. 1 8.25
Mar. 26 8.50
1998--Sept. 30 8.25
Oct. 16 8.00
Nov. 18 7.75
1999--July 1 8.00
Aug. 25 8.25
Nov. 17 8.50
2000--Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
Period Average
rate
1997 8.44
1998 8.35
1999 8.00
1997--Jan. 8.25
Feb. 8.25
Mar. 8.30
Apr. 8.50
May 8.50
June 8.50
July 8.50
Aug. 8.50
Sept. 8.50
Oct. 8.50
Nov. 8.50
Dec. 8.50
1998--Jan. 8.50
Feb. 8.50
Mar. 8.50
Apr. 8.50
May 8.50
June 8.50
July 8.50
Aug. 8.50
Sept. 8.49
Oct. 8.12
Nov. 7.89
Dec. 7.75
1999--Jan. 7.75
Feb. 7.75
Mar. 7.75
Apr. 7.75
May 7.75
June 7.75
July 8.00
Aug. 8.06
Sept. 8.25
Oct. 8.25
Nov. 8.37
Dec. 8.50
2000--Jan. 8.50
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which
a new rate came to be the predominant one quoted by a majority of
the twenty-five largest banks by asset size, based on the most
recent Call Report. Data in this table also appear in the Board's
H.15 (519) weekly and G.13 (415) monthly statistical releases. For
ordering address, see inside front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of business day data
unless otherwise noted
2000
Item 1997 1998 1999
June July
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.46 5.35 4.97 6.53 6.54
2 Discount window borrowing(2,4) 5.00 4.92 4.62 6.00 6.00
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.57 5.40 5.09 6.53 6.49
4 2-month 5.57 5.38 5.14 6.55 6.50
5 3-month 5.56 5.34 5.18 6.57 6.52
Financial
6 1-month 5.59 5.42 5.11 6.53 6.50
7 2-month 5.59 5.40 5.16 6.56 6.51
8 3-month 5.60 5.37 5.22 6.59 6.54
Commercial paper
(historical)(3,5,7)
9 1-month 5.54 n.a. n.a. n.a. n.a.
10 3-month 5.58 n.a. n.a. n.a. n.a.
11 6-month 5.62 n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month 5.44 n.a. n.a. n.a. n.a.
13 3-month 5.48 n.a. n.a. n.a. n.a.
14 6-month 5.48 n.a. n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month 5.54 5.39 5.24 6.63 n.a.
16 6-month 5.57 5.30 5.30 6.74 n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 5.54 5.49 5.19 6.60 6.57
18 3-month 5.62 5.47 5.33 6.73 6.67
19 6-month 5.73 5.44 5.46 6.91 6.86
20 Eurodollar deposits,
3-month(3,11) 5.61 5.45 5.31 6.73 6.67
U.S. Treasury bills
Secondary market(3,5)
21 3-month 5.06 4.78 4.64 5.69 5.96
22 6-month 5.18 4.83 4.75 5.97 6.00
23 1-year 5.32 4.80 4.81 5.83 5.75
Auction high(3,5,12)
24 3-month 5.07 4.81 4.66 5.74 n.a.
25 6-month 5.18 4.85 4.76 6.02 n.a.
26 1-year 5.36 4.85 4.78 6.00 n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 5.63 5.05 5.08 6.17 6.08
28 2-year 5.99 5.13 5.43 6.48 6.34
29 3-year 6.10 5.14 5.49 6.43 6.28
30 5-year 6.22 5.15 5.55 6.30 6.18
31 7-year 6.33 5.28 5.79 6.33 6.22
32 10-year 6.35 5.26 5.65 6.10 6.05
33 20-year 6.69 5.72 6.20 6.28 6.20
34 30-year 6.61 5.58 5.87 5.93 5.85
Composite
35 More than 10 years (long-term) 6.67 5.69 6.14 6.23 n.a.
STATE AND LOCAL NOTES
AND BONDS
Moody's series(14)
36 Aaa 5.32 4.93 5.28 5.69 5.53
37 Baa 5.50 5.14 5.70 6.24 6.09
38 Bond Buyer series(15) 5.52 5.09 5.43 5.80 5.63
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.54 6.87 7.45 8.05 7.98
Rating group
40 Aaa 7.27 6.53 7.05 7.67 7.65
41 Aa 7.48 6.80 7.36 7.87 7.81
42 A 7.54 6.93 7.53 8.18 8.11
43 Baa 7.87 7.22 7.88 8.48 8.35
MEMO
Dividend-price ratio(17)
44 Common stocks 1.77 1.49 1.25 1.12 1.10
2000 2000, week ending
Item
Aug. Sept. Sept. 1 Sept. 8
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 6.50 6.52 6.54 6.56
2 Discount window borrowing(2,4) 6.00 6.00 6.00 6.00
Commercial paper(3,5,6)
Nonfinancial
3 1-month 6.47 6.48 6.48 6.47
4 2-month 6.48 6.47 6.48 6.47
5 3-month 6.49 6.47 6.48 6.47
Financial
6 1-month 6.49 6.49 6.47 6.49
7 2-month 6.49 6.48 6.49 6.49
8 3-month 6.49 6.47 6.49 6.47
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 6.55 6.56 6.54 6.55
18 3-month 6.61 6.60 6.59 6.59
19 6-month 6.76 6.68 6.72 6.70
20 Eurodollar deposits,
3-month(3,11) 6.61 6.59 6.59 6.58
U.S. Treasury bills
Secondary market(3,5)
21 3-month 6.09 6.00 6.13 6.02
22 6-month 6.07 5.98 6.10 6.02
23 1-year 5.87 5.79 5.90 5.85
Auction high(3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 6.18 6.13 6.23 6.20
28 2-year 6.23 6.08 6.20 6.11
29 3-year 6.17 6.02 6.13 6.03
30 5-year 6.06 5.93 6.02 5.95
31 7-year 6.05 5.98 6.01 5.96
32 10-year 5.83 5.80 5.76 5.73
33 20-year 6.02 6.09 6.00 5.99
34 30-year 5.72 5.83 5.71 5.70
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES
AND BONDS
Moody's series(14)
36 Aaa 5.43 5.40 5.38 5.35
37 Baa 6.01 6.12 6.00 5.98
38 Bond Buyer series(15) 5.51 5.56 5.49 5.49
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.88 7.98 7.90 7.89
Rating group
40 Aaa 7.55 7.62 7.55 7.54
41 Aa 7.70 7.83 7.71 7.72
42 A 8.02 8.13 8.05 8.05
43 Baa 8.26 8.35 8.27 8.25
MEMO
Dividend-price ratio(17)
44 Common stocks 1.09 1.10 1.08 1.08
2000, week ending
Item
Sept. 15 Sept. 22 Sept. 29
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 6.50 6.50 6.50
2 Discount window borrowing(2,4) 6.00 6.00 6.00
Commercial paper(3,5,6)
Nonfinancial
3 1-month 6.48 6.48 6.49
4 2-month 6.47 6.47 6.48
5 3-month 6.47 6.46 6.47
Financial
6 1-month 6.49 6.50 6.49
7 2-month 6.48 6.48 6.48
8 3-month 6.47 6.46 6.47
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a.
10 3-month n.a. n.a. n.a.
11 6-month n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a.
13 3-month n.a. n.a. n.a.
14 6-month n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a.
16 6-month n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 6.56 6.56 6.57
18 3-month 6.59 6.58 6.63
19 6-month 6.69 6.66 6.67
20 Eurodollar deposits,
3-month(3,11) 6.58 6.58 6.62
U.S. Treasury bills
Secondary market(3,5)
21 3-month 5.95 5.98 6.03
22 6-month 5.94 5.96 6.00
23 1-year 5.80 5.76 5.76
Auction high(3,5,12)
24 3-month n.a. n.a. n.a.
25 6-month n.a. n.a. n.a.
26 1-year n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 6.14 6.09 6.08
28 2-year 6.10 6.08 6.04
29 3-year 6.03 6.03 5.97
30 5-year 5.95 5.95 5.90
31 7-year 5.99 6.02 5.96
32 10-year 5.78 5.88 5.82
33 20-year 6.06 6.19 6.14
34 30-year 5.79 5.94 5.89
Composite
35 More than 10 years (long-term) n.a. n.a. n.a.
STATE AND LOCAL NOTES
AND BONDS
Moody's series(14)
36 Aaa 5.35 5.39 5.50
37 Baa 6.02 6.20 6.27
38 Bond Buyer series(15) 5.51 5.59 5.63
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.98 8.08 7.99
Rating group
40 Aaa 7.60 7.71 7.65
41 Aa 7.83 7.93 7.85
42 A 8.13 8.23 8.13
43 Baa 8.35 8.44 8.35
MEMO
Dividend-price ratio(17)
44 Common stocks 1.08 1.10 1.12
NOTE. Some of the data in this table also appear in the Board's H.15
(519) weekly and G.13 (415) monthly statistical releases. For
ordering address, see inside front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days ending on
Wednesday of the current week; monthly figures include each
calendar day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) Rate for the Federal Reserve Bank of New York.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial
paper trades settled by the Depository Trust Company. The trades
represent sales of commercial paper by dealers or direct issuers
to investors (that is, the offer side). See Board's Commercial
Paper Web pages (http://www.federalreserve.gov/releases/cp)
for more information.
(7.) An average of offering rates on commercial paper for firms
whose bond rating is AA or the equivalent. Series ended
August 29, 1997.
(8.) An average of offering rates on paper directly placed by
finance companies. Series ended August 29, 1997.
(9.) Representative closing yields for acceptances of the
highest-rated money center banks.
(10.) An average of dealer offering rates on nationally traded
certificates of deposit.
(11.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(12.) Auction date for daily data; weekly and monthly averages
computed on an issue-date basis. On or after October 28, 1998,
data are stop yields from uniform-price auctions. Before that,
they are weighted average yields from multiple-price auctions.
(13.) Yields on actively traded issues adjusted to constant
maturities. Source: U.S. Department of the Treasury.
(14.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(15.) State and local government general obligation bonds maturing
in twenty years are used in compiling this index. The twenty-bond
index has a rating roughly equivalent to Moody's A1 rating. Based
on Thursday figures.
(16.) Daily figures from Moody's Investors Service. Based on yields
to maturity on selected long-term bonds.
(17.) Standard & Poor's corporate series. Common stock ratio is based
on the 500 stocks in the price index.
1.36 STOCK MARKET
Selected Statistics
2000
Indicator 1997 1998 1999
Jan.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31,
1965 = 50) 456.99 550.65 619.52 634.07
2 Industrial 574.97 684.35 775.29 814.73
3 Transportation 415.08 468.61 491.62 456.35
4 Utility 143.87 190.52 284.82 485.82
5 Finance 424.84 516.65 530.97 495.23
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 873.43 1,085.50 1,327.33 1,425.59
7 American Stock
Exchange
(Aug. 31, 1973 =
50)(2) 628.34 682.69 770.90 878.73
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 523,254 666,534 799,554 1,058,021
9 American Stock
Exchange 24,390 28,870 32,629 47,530
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker-dealers(3) 1,361,600 1,685,820 2,130,152 243,490
Free credit
balances at
brokers(4)
11 Margin accounts(5) 293,000 405,180 532,500 57,800
12 Cash accounts 517,030 633,725 757,345 75,760
Margin requirements (percent of
market value and effective date)(6)
Mar. 11, 1968 June 8, 1968
13 Margin stocks 70 80
14 Convertible bonds 50 60
15 Short sales 70 80
2000
Indicator
Feb. Mar. Apr. May
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31,
1965 = 50) 606.03 622.28 646.82 640.07
2 Industrial 767.08 790.35 822.76 814.75
3 Transportation 398.69 384.39 406.14 411.50
4 Utility 482.30 509.59 502.78 487.17
5 Finance 471.65 491.29 524.05 523.22
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 1,388.88 1,442.21 1,461.36 1,418.48
7 American Stock
Exchange
(Aug. 31, 1973 =
50)(2) 910.00 1,014.03 918.77 917.76
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,032,791 1,124,097 1,047,960 893,896
9 American Stock
Exchange 51,134 59,449 63,054 44,146
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker-dealers(3) 265,210 278,530 251,700 240,660
Free credit
balances at
brokers(4)
11 Margin accounts(5) 56,470 65,020 65,930 66,170
12 Cash accounts 79,700 85,530 76,190 73,500
Margin requirements (percent of
market value and effective date)(6)
May 6, 1970 Dec. 6, 1971
13 Margin stocks 65 55
14 Convertible bonds 50 50
15 Short sales 65 55
2000
Indicator
June July Aug. Sept.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31,
1965 = 50) 649.61 653.27 666.14 667.05
2 Industrial 819.54 825.28 837.23 829.99
3 Transportation 395.09 410.67 419.84 404.23
4 Utility 501.93 484.19 459.91 463.76
5 Finance 544.51 556.32 597.17 616.89
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 1,461.96 1,473.00 1,485.46 1,468.06
7 American Stock
Exchange
(Aug. 31, 1973 =
50)(2) 934.90 930.66 920.54 952.74
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 971,137 941,694 875,087 1,026,597
9 American Stock
Exchange 42,490 36,486 35,695 47,047
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker-dealers(3) 247,200 244,970 247,560 250,780
Free credit
balances at
brokers(4)
11 Margin accounts(5) 64,970 71,730 68,020 70,959
12 Cash accounts 74,140 74,970 72,640(r) 74,766
Margin requirements (percent of
market value and effective date)(6)
Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 65 50
14 Convertible bonds 50 50
15 Short sales 65 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly
425), 20 transportation (formerly 15 rail), 40 public utility
(formerly 60), and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit
at broker-dealers has included credit extended against stocks,
convertible bonds, stocks acquired through the exercise of
subscription rights, corporate bonds, and government securities.
Separate reporting of data for margin stocks, convertible bonds, and
subscription issues was discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board
of Governors pursuant to the Securities Exchange Act of 1934, limit
the amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are
the difference between the market value (100 percent) and the maximum
loan value of collateral as prescribed by the Board. Regulation T was
adopted effective Oct. 15, 1934; Regulation U, effective May 1, 1936;
Regulation G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time
established in Regulation T the initial margin required for writing
options on securities, setting it at 30 percent of the current market
value of the stock underlying the option. On Sept. 30, 1985, the
Board changed the required initial margin, allowing it to be the same
as the option maintenance margin required by the appropriate exchange
or self-regulatory organization; such maintenance margin rules must
be approved by the Securities and Exchange Commission.
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Fiscal year
Type of account or operation
1998 1999 2000
US. budget(1)
1 Receipts, total 1,721,798 1,827,454 2,025,038
2 On-budget 1,305,999 1,382,986 1,544,455
3 Off-budget 415,799 444,468 480,583
4 Outlays, total 1,652,552 1,702,940 1,788,045
5 On-budget 1,335,948 1,382,262 1,457,280
6 Off-budget 316,604 320,778 330,765
7 Surplus or deficit (-), total 69,246 124,414 236,993
8 On-budget -29,949 724 87,175
9 Off-budget 99,195 123,690 149,818
Source of financing (total)
10 Borrowing from the public -51,211 -88,674 -222,672
11 Operating cash (decrease,
or increase (-)) 4,743 -17,580 3,799
12 Other(2) -22,778 -18,160 -18,120
MEMO
13 Treasury operating balance
(level, end of period) 38,878 56,458 52,659
14 Federal Reserve Banks 4,952 6,641 8,459
15 Tax and loan accounts 33,926 49,817 44,199
Calendar year
Type of account or operation 2000
Apr. May June
US. budget(1)
1 Receipts, total 295,148 146,002 214,875
2 On-budget 244,662 107,469 168,319
3 Off-budget 50,486 38,533 46,556
4 Outlays, total 135,651 149,612 158,987
5 On-budget 105,742 114,829 152,308
6 Off-budget 29,909 34,783 6,679
7 Surplus or deficit (-), total 159,497 -3,611 55,888
8 On-budget 138,920 -7,360 16,011
9 Off-budget 20,577 3,750 39,877
Source of financing (total)
10 Borrowing from the public -112,667 -53,755 -23,131
11 Operating cash (decrease,
or increase (-)) -47,787 69,470 -34,350
12 Other(2) 957 -12,104 1,593
MEMO
13 Treasury operating balance
(level, end of period) 92,557 23,087 57,437
14 Federal Reserve Banks 15,868 5,445 6,208
15 Tax and loan accounts 76,689 17,642 51,229
Calendar year
Type of account or operation 2000
July Aug. Sept.
US. budget(1)
1 Receipts, total 134,074 138,128 219,471
2 On-budget 97,681 101,429 176,692
3 Off-budget 36,393 36,699 42,779
4 Outlays, total 129,013 148,555 153,649
5 On-budget 99,404 115,539 114,748
6 Off-budget 29,609 33,016 38,901
7 Surplus or deficit (-), total 5,061 -10,427 65,822
8 On-budget -1,723 -14,110 61,944
9 Off-budget -6,784 3,683 3,878
Source of financing (total)
10 Borrowing from the public -31,307 9,995 -32,334
11 Operating cash (decrease,
or increase (-)) 23,384 20,873 -39,479
12 Other(2) 2,862 -20,441 5,991
MEMO
13 Treasury operating balance
(level, end of period) 34,053 13,180 52,659
14 Federal Reserve Banks 5,392 5,961 8,459
15 Tax and loan accounts 28,661 7,218 44,199
(1.) Since 1990, off-budget items have been the social security
trust funds (Federal Old-Age, Survivors, and Disability Insurance)
and the U.S. Postal Service.
(2.) Includes special drawing rights (SDRs); reserve position on
the U.S. quota in the International Monetary Fund (IMF); loans to
the IMF; other cash and monetary assets; accrued interest payable
to the public; allocations of SDRs; deposit funds; miscellaneous
liability (including checks outstanding) and asset accounts;
seigniorage; increment on gold; net gain or loss for U.S. currency
valuation adjustment; net gain or loss for IMF loan-valuation
adjustment; and profit on sale of gold.
SOURCE. Monthly totals: U.S. Department of the Treasury, Monthly
Treasury Statement of Receipts and Outlays of the US. Government;
fiscal year totals: U.S. Office of Management and Budget, Budget
of the U.S. Government.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS(1)
Millions of dollars
Fiscal year
Source or type 1998
1999 2000
H2
RECEIPTS
1 All sources 1,827,454 2,025,038 825,057
2 Individual income taxes, net 879,480 1,004,461 392,332
3 Withheld 693,940 780,397 339,144
4 Nonwithheld 308,185 358,049 65,204
5 Refunds 122,706 134,046 12,032
Corporation income taxes
6 Gross receipts 216,324 235,655 104,163
7 Refunds 31,645 28,367 14,250
8 Social insurance taxes and
contributions, net 611,833 652,851 268,466
9 Employment taxes and
contributions(2) 580,880 620,447 256,142
10 Unemployment insurance 26,480 27,641 10,121
11 Other net receipts(3) 4,473 4,763 2,202
12 Excise taxes 70,414 68,866 33,366
13 Customs deposits 18,336 19,913 9,838
14 Estate and gift taxes 27,782 29,010 12,359
15 Miscellaneous receipts(4) 34,929 42,647 18,735
OUTLAYS
16 All types 1,702,940 1,788,045 877,414
17 National defense 274,873 293,856 140,196
18 International affairs 15,243 17,252 8,297
19 General science, space,
and technology 18,125 19,707 10,142
20 Energy 912 -1,020 699
21 Natural resources and
environment 23,970 23,295 12,671
22 Agriculture 23,011 38,472 16,757
23 Commerce and housing credit 2,649 3,321 4,046
24 Transportation 42,531 46,211 20,836
25 Community and regional
development 11,870 11,687 6,972
26 Education, training,
employment, and
social services 56,402 58,364 27,762
27 Health 141,079 154,215 67,838
28 Social security and Medicare 580,488 606,552 316,809
29 Income security 237,707 247,380 109,481
30 Veterans benefits and services 43,212 47,084 22,750
31 Administration of justice 25,924 27,704 12,041
32 General government 15,771 13,721 9,136
33 Net interest(5) 229,735 222,825 116,954
34 Undistributed offsetting
receipts(6) -40,445 -42,581 -25,793
Calendar year
Source or type 1999 2000
H1 H2 H1
RECEIPTS
1 All sources 966,045 892,266 1,089,760
2 Individual income taxes, net 481,907 425,451 550,208
3 Withheld 351,068 372,012 388,526
4 Nonwithheld 240,278 68,302 281,103
5 Refunds 109,467 14,841 119,477
Corporation income taxes
6 Gross receipts 106,861 110,111 119,166
7 Refunds 17,092 13,996 13,781
8 Social insurance taxes and
contributions, net 324,831 292,551 353,514
9 Employment taxes and
contributions(2) 306,235 280,059 333,584
10 Unemployment insurance 16,378 10,173 17,562
11 Other net receipts(3) 2,216 2,319 2,368
12 Excise taxes 31,015 34,262 33,532
13 Customs deposits 8,440 10,287 9,218
14 Estate and gift taxes 14,915 14,001 15,073
15 Miscellaneous receipts(4) 15,140 19,569 22,831
OUTLAYS
16 All types 817,227 882,465(r) 892,947
17 National defense 134,414 149,820 143,476
18 International affairs 6,879 8,530 7,250
19 General science, space,
and technology 9,319 10,089 9,601
20 Energy 797 -90 -893
21 Natural resources and
environment 10,351 12,100 10,814
22 Agriculture 9,803 20,887 11,164
23 Commerce and housing credit -1,629 7,353 -2,497
24 Transportation 17,082 22,972 21,054
25 Community and regional
development 5,368 7,135 5,050
26 Education, training,
employment, and
social services 29,003 27,532 31,234
27 Health 69,320 74,490 75,871
28 Social security and Medicare 261,146 295,030 306,966
29 Income security 126,552 113,504 133,915
30 Veterans benefits and services 20,105 23,412 23,174
31 Administration of justice 13,149 13,459 13,981
32 General government 6,641 7,006 6,198
33 Net interest(5) 116,655 112,420 115,545
34 Undistributed offsetting
receipts(6) -17,724 -22,850 -19,346
Calendar year
Source or type 2000
July Aug. Sept.
RECEIPTS
1 All sources 134,074 138,128 219,471
2 Individual income taxes, net 66,301 68,033 104,402
3 Withheld 64,474 62,057 59,766
4 Nonwithheld 4,066 7,850 48,229
5 Refunds 2,241 1,874 3,593
Corporation income taxes
6 Gross receipts 6,605 6,577 46,183
7 Refunds 1,592 1,903 2,746
contributions, net 49,650 52,082 56,293
9 Employment taxes and
contributions(2) 47,136 48,132 55,682
10 Unemployment insurance 2,145 3,584 168
11 Other net receipts(3) 369 366 443
12 Excise taxes 6,022 5,580 7,769
13 Customs deposits 1,781 2,071 1,823
14 Estate and gift taxes 1,872 2,304 2,168
15 Miscellaneous receipts(4) 3,435 3,383 3,579
OUTLAYS
16 All types 129,013 148,555 153,649
17 National defense 19,542 24,767 28,243
18 International affairs 3,067 -667 1,553
19 General science, space,
and technology 1,524 1,829 1,716
20 Energy 42 -223 530
21 Natural resources and
environment 1,783 2,267 2,542
22 Agriculture 496 1,449 6,842
23 Commerce and housing credit 423 -1,295 4,591
24 Transportation 3,781 4,866 4,209
25 Community and regional
development 814 1,007 975
26 Education, training,
employment, and
social services 3,874 5,576 3,616
27 Health 12,450 14,512 3,566
28 Social security and Medicare 47,415 52,206 50,381
29 Income security 15,343 18,521 20,031
30 Veterans benefits and services 1,910 3,700 5,619
31 Administration of justice 2,051 2,405 2,398
32 General government 960 906 1,017
33 Net interest(5) 17,660 20,004 12,584
34 Undistributed offsetting
receipts(6) -3,818 -3,275 -6,766
(1.) Functional details do not sum to total outlays for calendar
year data because revisions to monthly totals have not been
distributed among functions. Fiscal year total for receipts and
outlays do not correspond to calendar year data because revisions
from the Budget have not been fully distributed across months.
(2.) Old-age, disability, and hospital insurance, and railroad
retirement accounts.
(3.) Federal employee retirement contributions and civil service
retirement and disability fund.
(4.) Deposits of earnings by Federal Reserve Banks and other
miscellaneous receipts.
(5.) Includes interest received by trust funds.
(6.) Rents and royalties for the outer continental shelf, U.S.
government contributions for employee retirement, and certain
asset sales.
SOURCE. Fiscal year totals: U.S. Office of Management and Budget,
Budget of the U.S. Government, Fiscal Year 2001; monthly and
half-year totals: U.S. Department of the Treasury, Monthly Treasury
Statement of Receipts and Outlays of the U.S. Government.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
1998 1999
Item
Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,556 5,643 5,681
2 Public debt securities 5,526 5,614 5,652
3 Held by public 3,761 3,787 3,795
4 Held by agencies 1,766 1,827 1,857
5 Agency securities 29 29 29
6 Held by public 26 29 28
7 Held by agencies 4 1 1
8 Debt subject to statutory limit 5,440 5,530 5,566
9 Public debt securities 5,439 5,530 5,566
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
1999
Item
June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,668 5,685 5,805
2 Public debt securities 5,639 5,656 5,776
3 Held by public 3,685 3,667 3,716
4 Held by agencies 1,954 1,989 2,061
5 Agency securities 29 29 29
6 Held by public 28 28 28
7 Held by agencies 1 1 1
8 Debt subject to statutory limit 5,552 5,568 5,687
9 Public debt securities 5,552 5,568 5,687
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
2000
Item
Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 5,802 5,714 5,702
2 Public debt securities 5,773 5,686 5,674
3 Held by public 3,688 n.a. n.a.
4 Held by agencies 2,085 n.a. n.a.
5 Agency securities 28 28 28
6 Held by public 28 n.a. n.a.
7 Held by agencies 0 n.a. n.a.
8 Debt subject to statutory limit 5,687 5,601 5,592
9 Public debt securities 5,686 5,601 5,591
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
(1). Consists of guaranteed debt of U.S. Treasury and other
federal agencies, specified participation certificates, notes
to international lending organizations, and District of Columbia
stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of
the Public Debt of the United States and Treasury Bulletin.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1996 1997 1998 1999
1 Total gross public debt 5,323.2 5,502.4 5,614.2 5,776.1
By type
2 Interest-bearing 5,317.2 5,494.9 5,605.4 5,766.1
3 Marketable 3,459.7 3,456.8 3,355.5 3,281.0
4 Bills 777.4 715.4 691.0 737.1
5 Notes 2,112.3 2,106.1 1,960.7 1,784.5
6 Bonds 555.0 587.3 621.2 643.7
7 Inflation-indexed
notes and bonds(1) n.a. 33.0 67.6 100.7
8 Nonmarketable(2) 1,857.5 2,038.1 2,249.9 2,485.1
9 State and local
government series 101.3 124.1 165.3 165.7
10 Foreign issues(3) 37.4 36.2 34.3 31.3
11 Government 47.4 36.2 34.3 31.3
12 Public .0 .0 .0 .0
13 Savings bonds
and notes 182.4 181.2 180.3 179.4
14 Government account
series(4) 1,505.9 1,666.7 1,840.0 2,078.7
15 Non-interest-bearing 6.0 7.5 8.8 10.0
By holder(5)
16 U.S. Treasury and other
federal agencies and
trust funds 1,497.2 1,655.7 1,826.8 2,060.6
17 Federal Reserve Banks 410.9 451.9 471.7 477.7
18 Private investors 3,431.2 3,414.6 3,334.0 3,233.9
19 Depository institutions 296.6 300.3 237.3 246.3
20 Mutual funds 315.8 321.5 343.2 349.5
21 Insurance companies 214.1 176.6 144.5 140.0
22 State and local
treasuries(6) 257.0 239.3 269.3 266.8
Individuals
23 Savings bonds 187.0 186.5 186.7 186.5
24 Pension funds 392.7 421.0 434.7 445.5
25 Private 189.2 204.1 218.1 234.5
26 State and Local 203.5 216.9 216.6 211.0
27 Foreign and
international(7) 1,102.1 1,241.6 1,278.7 1,268.8
28 Other miscellaneous
investors(6,8) 665.9 527.9 438.5 330.5
1999 2000
Type and holder
Q4 Q1 Q2 Q3
1 Total gross public debt 5,776.1 5,773.4 5,685.9 5,674.2
By type
2 Interest-bearing 5,766.1 5,763.8 5,675.9 5,622.1
3 Marketable 3,281.0 3,261.2 3,070.7 2,992.8
4 Bills 737.1 753.3 629.9 616.2
5 Notes 1,784.5 1,732.6 1,679.1 1,611.3
6 Bonds 643.7 653.0 637.7 635.3
7 Inflation-indexed
notes and bonds(1) 100.7 107.4 109.0 115.0
8 Nonmarketable(2) 2,485.1 2,502.6 2,605.2 2,629.3
9 State and local
government series 165.7 161.9 160.4 153.3
10 Foreign issues(3) 31.3 28.8 27.7 25.4
11 Government 31.3 28.8 27.7 25.4
12 Public .0 .0 .0 .0
13 Savings bonds
and notes 179.4 178.6 177.7 177.7
14 Government account
series(4) 2,078.7 2,103.3 2,209.4 2,242.9
15 Non-interest-bearing 10.0 9.6 10.1 52.1
By holder(5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,060.6 2,085.4 2,190.2 n.a.
17 Federal Reserve Banks 477.7 501.7 505.0 n.a.
18 Private investors 3,233.9 3,182.8 2,987.4 n.a.
19 Depository institutions 246.3 234.9 n.a. n.a.
20 Mutual funds 349.5 343.7 n.a. n.a.
21 Insurance companies 140.0 138.7 n.a. n.a.
22 State and local
treasuries(6) 266.8 257.2 n.a. n.a.
Individuals
23 Savings bonds 186.5 185.3 184.7 n.a.
24 Pension funds 445.5 432.3 n.a. n.a.
25 Private 234.5 230.8 n.a. n.a.
26 State and Local 211.0 201.5 n.a. n.a.
27 Foreign and
international(7) 1,268.8 1,274.0 1,248.9 n.a.
28 Other miscellaneous
investors(6,8) 330.5 316.7 n.a. n.a.
(1.) The U.S. Treasury first issued inflation-indexed securities
during the first quarter of 1997.
(2.) Includes (not shown separately) securities issued to the Rural
Electrification Administration, depository bonds, retirement plan
bonds, and individual retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal agencies
and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies and
trust funds are actual holdings; data for other groups are Treasury
estimates.
(6.) In March 1996, in a redefinition of series, fully defeased debt
backed by nonmarketable federal securities was removed from "Other
miscellaneous investors" and added to "State and local treasuries."
The data shown here have been revised accordingly.
(7.) Includes nonmarketable foreign series treasury securities and
treasury deposit funds. Excludes treasury securities held under
repurchase agreements in custody accounts at the Federal Reserve
Bank of New York.
(8.) Includes individuals, government-sponsored enterprises, brokers
and dealers, bank personal trusts and estates, corporate and
noncorporate businesses, and other investors.
SOURCE. U.S. Treasury Department, data by type of security, Monthly
Statement of the Public Debt of the United States; data by holder,
Treasury Bulletin.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions(1)
Millions of dollars, daily averages
2000
Item
June July Aug.
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 20,474 16,467 21,487
Coupon securities, by maturity
2 Five years or less 102,265 96,709 84,941
3 More than five years 64,492 57,055 62,777
4 Inflation-indexed 955 1,261 1,185
Federal agency
5 Discount notes 49,638 53,649 53,668
Coupon securities, by maturity
6 One year or less 864 1,299 1,314
7 More than one year,
but less than or equal
to five years 7,304 7,939 8,879
8 More than five years 9,031 9,286 7,002
9 Mortgage-backed 64,884 68,080 67,487
By type of counterparty
With interdealer broker
10 U.S. Treasury 92,504 81,757 81,566
11 Federal agency 8,398 7,497 8,089
12 Mortgage-backed 24,768 22,785 25,460
With other
13 U.S. Treasury 95,682 89,735 88,823
14 Federal agency 58,438 64,677 62,774
15 Mortgage-backed 40,116 45,294 42,027
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills 0 0 n.a.
Coupon securities, by maturity
17 Five years or less 3,549 2,571 3,467
18 More than five years 13,282 8,991 10,960
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than or equal to
five years 0 0 0
23 More than five years 245 51 109
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 1,398 1,214 1,149
27 More than five years 3,185 2,634 2,821
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than or equal to
five years 0 12 34
32 More than five years 20 3 2
33 Mortgage-backed 1,306 898 1,145
2000, week ending
Item
Aug. 2 Aug. 9 Aug. 16
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 18,878 14,037 26,057
Coupon securities, by maturity
2 Five years or less 92,640 94,852 85,623
3 More than five years 62,388 76,071 72,768
4 Inflation-indexed 974 1,553 730
Federal agency
5 Discount notes 49,882 48,162 52,526
Coupon securities, by maturity
6 One year or less 939 1,086 1,290
7 More than one year,
but less than or equal
to five years 8,927 11,721 8,571
8 More than five years 12,443 7,651 5,969
9 Mortgage-backed 49,239 78,965 114,415
By type of counterparty
With interdealer broker
10 U.S. Treasury 79,015 92,325 88,900
11 Federal agency 7,312 9,255 7,947
12 Mortgage-backed 18,662 28,771 39,793
With other
13 U.S. Treasury 95,865 94,187 96,279
14 Federal agency 64,879 59,364 60,409
15 Mortgage-backed 30,577 50,194 74,622
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
17 Five years or less 2,212 2,387 2,930
18 More than five years 10,291 10,456 11,118
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than or equal to
five years 0 0 0
23 More than five years 29 130 83
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 1,057 991 1,000
27 More than five years 2,627 3,389 2,656
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than or equal to
five years 52 n.a. 0
32 More than five years 0 n.a. n.a.
33 Mortgage-backed 1,206 2,527 817
2000, week ending
Item
Aug. 23 Aug. 30 Sept. 6
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 17,685 27,255 31,270
Coupon securities, by maturity
2 Five years or less 78,770 75,257 95,849
3 More than five years 49,068 53,359 62,764
4 Inflation-indexed 1,144 1,219 2,086
Federal agency
5 Discount notes 56,654 58,435 55,704
Coupon securities, by maturity
6 One year or less 1,397 1,710 935
7 More than one year,
but less than or equal
to five years 8,420 7,163 6,995
8 More than five years 6,852 5,534 6,129
9 Mortgage-backed 47,010 37,714 63,208
By type of counterparty
With interdealer broker
10 U.S. Treasury 70,397 74,830 85,739
11 Federal agency 9,018 6,690 6,865
12 Mortgage-backed 20,486 16,444 20,792
With other
13 U.S. Treasury 76,270 82,260 106,229
14 Federal agency 64,305 66,152 62,898
15 Mortgage-backed 26,524 21,270 42,416
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
17 Five years or less 3,715 5,025 5,032
18 More than five years 10,149 12,228 11,749
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than or equal to
five years 0 0 0
23 More than five years 118 150 49
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 1,505 1,201 831
27 More than five years 2,981 2,313 2,923
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than or equal to
five years 0 61 38
32 More than five years 0 n.a. 16
33 Mortgage-backed 650 581 1,049
2000, week ending
Item
Sept. 13 Sept. 20 Sept. 27
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 23,896 22,297 22,099
Coupon securities, by maturity
2 Five years or less 90,909 133,824 140,680
3 More than five years 56,674 92,418 63,927
4 Inflation-indexed 1,683 1,043 1,584
Federal agency
5 Discount notes 50,911 46,575 48,146
Coupon securities, by maturity
6 One year or less 1,271 1,208 1,175
7 More than one year
but less than or equal
to five years 12,658 10,972 7,646
8 More than five years 7,644 16,190 8,844
9 Mortgage-backed 111,898 79,310 53,823
By type of counterparty
With interdealer broker
10 U.S. Treasury 83,155 119,564 112,466
11 Federal agency 10,062 12,497 9,130
12 Mortgage-backed 39,863 25,681 27,664
With other
13 U.S. Treasury 90,006 130,018 115,824
14 Federal agency 62,422 62,448 56,681
15 Mortgage-backed 72,017 53,628 26,159
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
17 Five years or less 3,346 3,255 2,185
18 More than five years 9,846 15,512 10,460
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than or equal to
five years 0 0 0
23 More than five years 138 237 189
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 1,569 1,606 1,425
27 More than five years 3,070 4,131 3,117
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than or equal to
five years n.a. n.a. 0
32 More than five years 0 n.a. n.a.
33 Mortgage-backed 1,446 851 832
(1.) Transactions are market purchases and sales of securities as
reported to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of primary
dealers. Monthly averages are based on the number of trading days
in the month. Transactions are assumed to be evenly distributed
among the trading days of the report week. Immediate, forward,
and futures transactions are reported at principal value, which
does not include accrued interest; options transactions are reported
at the face value of the underlying securities.
Dealers report cumulative transactions for each week ending Wednesday.
(2.) Outright transactions include immediate and forward transactions.
Immediate delivery refers to purchases or sales of securities
(other than mortgage-backed federal agency securities) for which
delivery is scheduled in five business days or less and "when-issued"
securities that settle on the issue date of offering. Transactions
for immediate delivery of mortgage-backed agency securities include
purchases and sales for which delivery is scheduled in thirty business
days or less. Stripped securities are reported at market value by
maturity of coupon or corpus.
Forward transactions are agreements made in the over-the-counter
market that specify delayed delivery. Forward contracts for U.S.
Treasury securities and federal agency debt securities are included
when the time to delivery is more than five business days. Forward
contracts for mortgage-backed agency securities are included when
the time to delivery is more than thirty business days.
(3.) Futures transactions are standardized agreements arranged
on an exchange. All futures transactions are included regardless
of time to delivery.
(4.) Options transactions are purchases or sales of put and call
options, whether arranged on an organized exchange or in the
over-the-counter market, and include options on futures
contracts on U.S. Treasury and federal agency securities.
NOTE. "n.a." indicates that data are not published because
of insufficient activity.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing(1)
Millions of dollars
2000
Item
June July Aug.
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 3,514 3,951 2,426
Coupon securities, by
maturity
2 Five years or less -38,615 -31,279 -29,287
3 More than five years -21,306 -21,335 -18,943
4 Inflation-indexed 1,668 2,564 2,711
Federal agency
5 Discount notes 32,775 35,531 31,912
Coupon securities, by
maturity
6 One year or less 10,016 12,896 13,638
7 More than one year, but
less than or equal
to five years 1,925 3,249 5,089
8 More than five years 899 1,268 1,281
9 Mortgage-backed 23,442 20,713 18,646
NET FUTURES POSITIONS(4)
By type of deliverable
security
10 U.S. Treasury bills 0 0 n.a.
Coupon securities, by
maturity
11 Five years or less 12,969 14,350 11,726
12 More than five years -165 71 -329
13 Inflation-indexed 0 0 0
Federal agency
14 Discount notes 0 0 0
Coupon securities, by
maturity
15 One year or less 0 0 0
16 More than one year, but
less than or equal
to five years 0 0 0
17 More than five years -740 -261 -582
18 Mortgage-backed 0 0 0
NET OPTIONS POSITIONS
By type of deliverable
security
19 U.S. Treasury bills 0 0 0
Coupon securities, by
maturity
20 Five years or less 376 1,143 1,723
21 More than five years 400 1,699 1,324
22 Inflation-indexed 0 0 0
Federal agency
23 Discount notes 0 0 0
Coupon securities, by
maturity
24 One year or less 0 0 0
25 More than one year, but
less than or equal
to five years 194 233 208
26 More than five years 522 309 181
27 Mortgage-backed 929 2,236 5,009
Financing(5)
Reverse repurchase
agreements
28 Overnight and continuing 294,802 282,999 283,661
29 Term 850,521 828,512 782,717
Securities borrowed
30 Overnight andcontinuing 292,038 299,289 285,382
31 Term 112,854 113,572 114,470
Securities received as
pledge
32 Overnight and continuing n.a. 2,454 2,367
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 744,475 750,138 748,503
35 Term 746,986 736,488 689,557
Securities loaned
36 Overnight and continuing 7,698 7,433 7,705
37 Term 6,567 5,295 4,295
Securities pledged
38 Overnight and continuing 61,667 63,077 60,868
39 Term 4,249 4,358 4,203
Collateralized loans
40 Total 16,826 20,706 23,695
2000, week ending
Item
Aug. 2 Aug. 9 Aug. 16 Aug. 23
Positions(5)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills -409 1,064 2,938 3,184
Coupon securities, by
maturity
2 Five years or less -33,081 -26,247 -33,122 -29,917
3 More than five years -23,220 -22,566 -18,402 -16,430
4 Inflation-indexed 2,607 2,633 2,784 2,926
Federal agency
5 Discount notes 35,904 34,631 34,206 26,436
Coupon securities, by
maturity
6 One year or less 14,075 13,084 13,948 14,028
7 More than one year, but
less than or equal
to five years 4,441 3,631 5,810 4,975
8 More than five years 2,378 2,693 1,113 842
9 Mortgage-backed 20,035 20,354 21,329 17,537
NET FUTURES POSITIONS(4)
By type of deliverable
security
10 U.S. Treasury bills n.a. n.a. n.a. n.a.
Coupon securities, by
maturity
11 Five years or less 13,974 12,400 13,275 10,909
12 More than five years 1,362 54 538 -1,969
13 Inflation-indexed 0 0 0 0
Federal agency
14 Discount notes 0 0 0 0
Coupon securities, by
maturity
15 One year or less 0 0 0 0
16 More than one year, but
less than or equal
to five years 0 0 0 0
17 More than five years -309 -713 -709 -523
18 Mortgage-backed 0 0 0 0
NET OPTIONS POSITIONS
By type of deliverable
security
19 U.S. Treasury bills 0 0 0 0
Coupon securities, by
maturity
20 Five years or less 1,127 1,688 1,484 1,868
21 More than five years 2,498 1,218 908 2,041
22 Inflation-indexed 0 0 0 0
Federal agency
23 Discount notes 0 0 0 0
Coupon securities, by
maturity
24 One year or less 0 0 0 0
25 More than one year, but
less than or equal
to five years 233 237 223 273
26 More than five years 409 336 327 0
27 Mortgage-backed 3,886 4,008 4,634 5,429
Financing(5)
Reverse repurchase
agreements
28 Overnight and continuing 289,789 282,395 303,063 278,813
29 Term 884,781 926,331 692,080 732,843
Securities borrowed
30 Overnight andcontinuing 294,119 289,814 285,773 287,751
31 Term 116,718 118,211 112,955 110,811
Securities received as
pledge
32 Overnight and continuing 2,535 n.a. 2,374 2,561
33 Term n.a. n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 749,157 751,407 786,525 735,461
35 Term 780,594 834,622 594,522 636,948
Securities loaned
36 Overnight and continuing 8,214 8,153 8,060 7,237
37 Term 3,400 3,415 3,734 3,725
Securities pledged
38 Overnight and continuing 60,855 59,469 60,006 61,715
39 Term 4,493 4,576 4,086 4,031
Collateralized loans
40 Total 27,895 25,145 20,826 26,452
2000, week ending
Item
Aug. 30 Sept. 6 Sept. 13 Sept. 20
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 1,111 17,945 17,068 5,563
Coupon securities, by
maturity
2 Five years or less -27,175 -26,519 -27,258 -31,407
3 More than five years -17,471 -16,718 -16,789 -15,425
4 Inflation-indexed 2,635 1,982 2,477 2,742
Federal agency
5 Discount notes 31,262 31,726 36,160 39,899
Coupon securities, by
maturity
6 One year or less 13,549 12,380 14,792 14,447
7 More than one year, but
less than or equal
to five years 5,991 6,016 4,327 4,873
8 More than five years 197 1,035 34 1,838
9 Mortgage-backed 15,766 13,051 15,083 15,283
NET FUTURES POSITIONS(4)
By type of deliverable
security
10 U.S. Treasury bills n.a. n.a. n.a. n.a.
Coupon securities, by
maturity
11 Five years or less 10,071 8,981 6,799 2,138
12 More than five years -546 544 124 2,638
13 Inflation-indexed 0 0 0 0
Federal agency
14 Discount notes 0 0 0 0
Coupon securities, by
maturity
15 One year or less 0 0 0 0
16 More than one year, but
less than or equal
to five years 0 0 0 0
17 More than five years -470 -528 -638 -922
18 Mortgage-backed 0 0 0 0
NET OPTIONS POSITIONS
By type of deliverable
security
19 U.S. Treasury bills 0 0 0 0
Coupon securities, by
maturity
20 Five years or less 2,052 1,528 3,134 2,875
21 More than five years 765 1,522 870 1,789
22 Inflation-indexed 0 0 0 0
Federal agency
23 Discount notes 0 0 0 0
Coupon securities, by
maturity
24 One year or less 0 0 0 0
25 More than one year, but
less than or equal
to five years 108 105 150 82
26 More than five years 17 22 15 35
27 Mortgage-backed 6,177 5,772 3,926 4,191
Financing(5)
Reverse repurchase
agreements
28 Overnight and continuing 267,642 290,528 274,009 289,304
29 Term 757,389 734,160 773,814 778,606
Securities borrowed
30 Overnight andcontinuing 275,653 285,659 283,829 285,836
31 Term 116,175 108,057 110,917 111,445
Securities received as
pledge
32 Overnight and continuing 2,109 2,422 2,272 2,057
33 Term n.a. n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 719,039 758,248 737,204 739,576
35 Term 671,941 648,849 688,139 720,286
Securities loaned
36 Overnight and continuing 7,317 7,060 7,290 6,999
37 Term 6,234 6,594 6,597 6,597
Securities pledged
38 Overnight and continuing 62,275 60,931 64,044 61,419
39 Term 4,072 3,952 4,247 4,367
Collateralized loans
40 Total 21,204 23,375 30,761 18,582
(1.) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of primary
dealers. Weekly figures are close-of-business Wednesday data.
Positions for calendar days of the report week are assumed to be
constant. Monthly averages are based on the number of calendar
days in the month.
(2.) Securities positions are reported at market value.
(3.) Net outright positions include immediate and forward positions.
Net immediate positions include securities purchased or sold (other
than mortgage-backed agency securities) that have been delivered or
are scheduled to be delivered in five business days or less and
"when-issued" securities that settle on the issue date of offering.
Net immediate positions for mortgage-backed agency securities include
securities purchased or sold that have been delivered or are scheduled
to be delivered in thirty business days or less.
Forward positions reflect agreements made in the over-the-counter
market that specify delayed delivery. Forward contracts for U.S.
Treasury securities and federal agency debt securities are included
when the time to delivery is more than five business days. Forward
contracts for mortgage-backed agency securities are included when
the time to delivery is more than thirty business days.
(4.) Futures positions reflect standardized agreements arranged on an
exchange. All futures positions are included regardless of time to
delivery.
(5.) Overnight financing refers to agreements made on one business day
that mature on the next business day; continuing contracts are
agreements that remain in effect for more than one business day but
have no specific maturity and can be terminated without advance notice
by either party; term agreements have a fixed maturity of more than one
business day. Financing data are reported in terms of actual funds paid
or received, including accrued interest.
NOTE. "n.a." indicates that data are not published because of
insufficient activity.
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1996 1997 1998
1 Federal and federally
sponsored agencies 925,823 1,022,609 1,296,477
2 Federal agencies 29,380 27,792 26,502
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) 1,447 552 n.a.
5 Federal Housing
Administration(4) 84 102 205
6 Government National Mortgage
Association certificates of
participation(5) n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 27,853 27,786 26,496
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 896,443 994,817 1,269,975
11 Federal Home Loan Banks 263,404 313,919 382,131
12 Federal Home Loan Mortgage
Corporation 156,980 169,200 287,396
13 Federal National Mortgage
Association 331,270 369,774 460,291
14 Farm Credit Banks(8) 60,053 63,517 63,488
15 Student Loan Marketing
Association(9) 44,763 37,717 35,399
16 Financing Corporation(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation(11) 1,261 1,261 1,261
18 Resolution Funding
Corporation(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt(13) 58,172 49,090 44,129
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) 1,431 552 n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 18,325 13,530 9,500
26 Rural Electrification
Administration 16,702 14,898 14,091
27 Other 21,714 20,110 20,538
2000
Agency 1999
Mar. Apr.
1 Federal and federally
sponsored agencies 1,616,492 1,644,276 n.a.
2 Federal agencies 26,376 26,231 26,011
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 126 168 173
6 Government National Mortgage
Association certificates of
participation(5) n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 26,370 26,225 26,005
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,590,116 1,618,045 164,298
11 Federal Home Loan Banks 529,005 535,284 541,673
12 Federal Home Loan Mortgage
Corporation 360,711 378,006 388,261
13 Federal National Mortgage
Association 547,619 557,543 561,700
14 Farm Credit Banks(8) 68,883 67,154 69,036
15 Student Loan Marketing
Association(9) 41,988 38,089 40,119
16 Financing Corporation(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation(11) 1,261 1,261 1,261
18 Resolution Funding
Corporation(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt(13) 42,152 39,306 38,700
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) n.a. n.a. n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 6,665 6,350 6,240
26 Rural Electrification
Administration 14,085 13,152 13,167
27 Other 21,402 19,804 19,293
2000
Agency
May June July
1 Federal and federally
sponsored agencies 193,776 194,673 n.a.
2 Federal agencies 26,052 26,669 26,094
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 184 185 205
6 Government National Mortgage
Association certificates of
participation(5) n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 26,046 26,663 26,088
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 167,726 168,004 n.a.
11 Federal Home Loan Banks 557,506 568,438 565,037
12 Federal Home Loan Mortgage
Corporation 392,555 384,286 399,370
13 Federal National Mortgage
Association 571,800 578,500 579,448
14 Farm Credit Banks(8) 70,036 69,541 69,757
15 Student Loan Marketing
Association(9) 43,144 37,263 n.a.
16 Financing Corporation(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation(11) 1,261 1,261 1,261
18 Resolution Funding
Corporation(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt(13) 39,102 38,513 38,143
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) n.a. n.a. n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 6,140 6,040 5,760
26 Rural Electrification
Administration 13,221 13,121 13,165
27 Other 19,741 19,352 19,218
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt beginning
Oct. 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance claims. Once issued, these securities
may be sold privately on the securities market.
(5.) Certificates of participation issued before fiscal year 1969 by
the Government National Mortgage Association acting as trustee for
the Farmers Home Administration, the Department of Health, Education,
and Welfare, the Department of Housing and Urban Development, the
Small Business Administration, and the Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes, bonds,
and debentures. Includes Federal Agricultural Mortgage Corporation;
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, which is shown on line 17.
(9.) Before late 1982, the association obtained financing through
the Federal Financing Bank (FFB). Borrowing excludes that obtained
from the FFB, which is shown on line 22.
(10.) The Financing Corporation, established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11.) The Farm Credit Financial Assistance Corporation, established
in January 1988 to provide assistance to the Farm Credit System,
undertook its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989, undertook
its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by other
federal agencies. Because FFB incurs debt solely for the purpose of
lending to other agencies, its debt is not included in the main
portion of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans;
the latter are loans guaranteed by numerous agencies, with the
amounts guaranteed by any one agency generally a being small.
The Farmers Home Administration entry consists exclusively of
agency assets, whereas the Rural Electrification Administration
entry consists of both agency assets and guaranteed loans.
1.45 NEW SECURITY ISSUES Tax-Exempt State and Local Governments
Millions of dollars
Type of issue or issuer, 1997 1998 1999
or use
1 All issues, new and refunding(1) 214,694 262,342 215,427
By type of issue
2 General obligation 69,934 87,015 73,308
3 Revenue 134,989 175,327 142,120
By type of issuer
4 State 18,237 23,506 16,376
5 Special district or statutory
authority(2) 134,919 178,421 152,418
6 Municipality, county, or
township 70,558 60,173 46,634
7 Issues for new capital 135,519 160,568 161,065
By use of proceeds
8 Education 31,860 36,904 36,563
9 Transportation 13,951 19,926 17,394
10 Utilities and conservation 12,219 21,037 15,098
11 Social welfare 27,794 n.a. n.a.
12 Industrial aid 6,667 8,594 9,099
13 Other purposes 35,095 42,450 47,896
2000
Type of issue or issuer,
or use
Feb. Mar. Apr. May
1 All issues, new and refunding(1) 10,905 16,780 14,233 14,136
By type of issue
2 General obligation 4,473 5,008 4,598 6,051
3 Revenue 6,433 11,773 9,635 8,086
By type of issuer
4 State 1,730 1,570 1,371 1,102
5 Special district or statutory
authority(2) 7,414 11,098 10,229 9,639
6 Municipality, county, or
township 1,761 4,112 2,633 3,396
7 Issues for new capital 9,382 13,508 12,029 12,481
By use of proceeds
8 Education 2,548 3,436 2,484 3,662
9 Transportation 723 2,723 768 1,778
10 Utilities and conservation 115 1,086 729 537
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 647 747 762 585
13 Other purposes 2,804 2,426 3,903 3,557
2000
Type of issue or issuer,
or use
June July Aug. Sept.
1 All issues, new and refunding(1) 20,208 12,827 15,284 15,598
By type of issue
2 General obligation 8,581 4,256 5,194 6,888
3 Revenue 11,628 8,572 10,090 8,710
By type of issuer
4 State 2,907 783 1,011 2,022
5 Special district or statutory
authority(2) 13,520 8,545 10,728 10,152
6 Municipality, county, or
township 3,782 3,500 3,545 3,424
7 Issues for new capital 16,987 11,297 12,402 13,968
By use of proceeds
8 Education 4,465 3,185 3,630 3,210
9 Transportation 1,093 1,947 1,979 1,574
10 Utilities and conservation 1,141 353 1,409 1,408
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 1,150 632 281 387
13 Other purposes 5,776 2,543 3,564 5,243
(1.) Par amounts of long-term issues based on date of sale.
(2.) Includes school districts.
SOURCE. Securities Data Company beginning January 1990;
Investment Dealer's Digest before then.
1.46 NEW SECURITY ISSUES U.S. Corporations
Millions of dollars
Type of issue, offering, 1997 1998 1999
or issuer
1 All issues(1) 929,256 1,128,491 1,072,866
2 Bonds(2) 811,376 1,001,736 941,298
By type of offering
3 Sold in the United States 708,188 923,771 818,683
4 Sold abroad 103,188 77,965 122,615
MEMO
5 Private placements, domestic n.a. n.a. n.a.
By industry group
6 Nonfinancial 222,603 307,935 293,963
7 Financial 588,773 693,801 647,335
8 Stocks(3) 173,330 205,605 217,868
By type of offering
9 Public 117,880 126,755 131,568
10 Private placement(4) 55,450 78,850 86,300
By industry group
11 Nonfinancial 60,386 74,113 110,284
12 Financial 57,494 52,642 21,284
2000
Type of issue, offering,
or issuer
Jan. Feb. Mar. Apr.
1 All issues(1) 55,714 85,679 113,093 61,963
2 Bonds(2) 44,220 63,391 96,148 40,941
By type of offering
3 Sold in the United States 30,784 56,727 87,603 36,724
4 Sold abroad 13,436 6,664 8,545 4,217
MEMO
5 Private placements, domestic 967 65 0 228
By industry group
6 Nonfinancial 14,599 26,598 28,086 8,060
7 Financial 29,620 36,792 68,062 32,881
8 Stocks(3) 11,494 22,288 16,945 21,022
By type of offering
9 Public 11,494 22,288 16,945 21,022
10 Private placement(4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 9,247 21,796 15,679 16,763
12 Financial 2,247 492 1,266 4,259
2000
Type of issue, offering,
or issuer
May June July Aug.
1 All issues(1) 62,939 100,615 65,511 81,964
2 Bonds(2) 58,233 92,742 57,476 69,875
By type of offering
3 Sold in the United States 45,986 75,271 40,753 56,132
4 Sold abroad 12,247 17,471 16,723 13,742
MEMO
5 Private placements, domestic 2,694 3,391 1,038 241
By industry group
6 Nonfinancial 20,832 29,412 15,885 17,947
7 Financial 37,401 63,331 41,592 51,928
8 Stocks(3) 4,706 7,873 8,035 12,265
By type of offering
9 Public 4,706 7,873 8,035 12,265
10 Private placement(4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,522 6,521 7,773 8,083
12 Financial 184 1,352 262 4,182
(1) Figures represent gross proceeds of issues maturing in more than
one year; they are the principal amount or number of units calculated
by multiplying by the offering price. Figures exclude secondary
offerings, employee stock plans, investment companies other than
closed-end, intracorporate transactions, and Yankee bonds. Stock data
include ownership securities issued by limited partnerships.
(2) Monthly data include 144(a) offerings.
(3) Monthly data cover only public offerings.
(4) Data are not available.
SOURCE. Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets(1)
Millions of dollars
2000
Item 1998 1999
Feb. Mar.
1 Sales of own
shares(2) 1,461,430 1,791,894 237,861 269,118
2 Redemptions of own
shares 1,217,022 1,621,987 197,423 243,194
3 Net sales(3) 244,408 169,906 40,438 25,924
4 Assets(4) 4,173,531 5,233,191 5,375,874 5,606,254
5 Cash(5) 191,393 219,189 231,480 221,623
6 Other 3,982,138 5,014,002 5,144,394 5,384,630
2000
Item
Apr. May June July
1 Sales of own
shares(2) 202,248 172,718 181,866 166,815
2 Redemptions of own
shares 176,671 162,984 161,462 151,717
3 Net sales(3) 25,577 9,735 20,404 15,098
4 Assets(4) 5,391,187 5,232,319 5,458,914 5,392,308
5 Cash(5) 254,819 260,426 259,241 258,472
6 Other 5,136,368 4,971,892 5,199,673 5,133,836
2000
Item
Aug.(r) Sept.
1 Sales of own
shares(2) 179,890 160,272
2 Redemptions of own
shares 159,027 148,200
3 Net sales(3) 20,864 12,072
4 Assets(4) 5,745,264 5,551,051
5 Cash(5) 261,967 280,160
6 Other 5,483,298 5,270,891
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvestment of net income dividends and capital
gains distributions and share issue of conversions from one fund
to another in the same group.
(3.) Excludes sales and redemptions resulting from transfers of
shares into or out of money market mutual funds within the same
fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term
debt securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission.
Data reflect underwritings of newly formed companies after their
initial offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at
seasonally adjusted annual rates
Account 1997 1998 1999
1 Profits with inventory valuation and
capital consumption adjustment 833.8 815.0 856.0
2 Profits before taxes 792.4 758.2 823.0
3 Profits-tax liability 237.2 244.6 255.9
4 Profits after taxes 555.2 513.6 567.1
5 Dividends 335.2 351.5 370.7
6 Undistributed profits 220.0 162.1 196.4
7 Inventory valuation 8.4 17.0 -9.1
8 Capital consumption adjustment 32.9 39.9 42.1
1998 1999
Account
Q3 Q4 Q1 Q2
1 Profits with inventory valuation and
capital consumption adjustment 818.0 803.4 852.0 836.8
2 Profits before taxes 760.1 742.3 797.6 804.5
3 Profits-tax liability 249.0 239.4 247.8 250.8
4 Profits after taxes 511.1 502.9 549.9 553.7
5 Dividends 351.4 356.1 361.1 367.2
6 Undistributed profits 159.7 146.9 188.7 186.5
7 Inventory valuation 17.7 19.9 11.4 -8.9
8 Capital consumption adjustment 40.2 41.2 42.9 41.2
1999 2000
Account
Q3 Q4 Q1 Q2(r)
1 Profits with inventory valuation and
capital consumption adjustment 842.0 893.2 936.3 963.6
2 Profits before taxes 819.0 870.7 920.7 942.5
3 Profits-tax liability 254.2 270.8 286.3 292.0
4 Profits after taxes 564.8 599.9 634.4 650.4
5 Dividends 373.9 380.6 387.3 393.0
6 Undistributed profits 190.9 219.3 247.1 257.4
7 Inventory valuation -19.7 -19.2 -25.0 -13.6
8 Capital consumption adjustment 42.7 41.6 40.6 34.7
SOURCE. U.S. Department of Commerce, Survey of Current Business.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities(1)
Billions of dollars, end of period; not seasonally adjusted
1999
Account 1997 1998 1999
Q1
ASSETS
1 Accounts receivable, gross(2) 663.3 711.7 811.5 733.8
2 Consumer 256.8 261.8 279.8 261.7
3 Business 318.5 347.5 405.2 362.8
4 Real estate 87.9 102.3 126.5 109.2
5 LESS: Reserves for unearned
income 52.7 56.3 53.5 52.9
6 Reserves for losses 13.0 13.8 13.5 13.4
7 Accounts receivable, net 597.6 641.6 744.6 667.6
8 All other 312.4 337.9 406.3 363.3
9 Total assets 910.0 979.5 1,150.9 1,030.8
LIABILITIES AND CAPITAL
10 Bank loans 24.1 26.3 35.1 24.8
11 Commercial paper 201.5 231.5 227.9 222.9
Debt
12 Owed to parent 64.7 61.8 123.8 64.6
13 Not elsewhere classified 328.8 339.7 397.0 366.7
14 All other liabilities 189.6 203.2 222.7 220.3
15 Capital, surplus, and undivided
profits 101.3 117.0 144.5 131.5
16 Total liabilities and capital 910.0 979.5 1,150.9 1,030.8
1999
Account
Q2 Q3 Q4
ASSETS
1 Accounts receivable, gross(2) 756.5 776.3 811.5
2 Consumer 269.2 271.0 279.8
3 Business 373.7 383.0 405.2
4 Real estate 113.5 122.3 126.5
5 LESS: Reserves for unearned
income 53.4 54.0 53.5
6 Reserves for losses 13.4 13.6 13.5
7 Accounts receivable, net 689.7 708.6 744.6
8 All other 373.2 368.5 406.3
9 Total assets 1,062.9 1,077.2 1,150.9
LIABILITIES AND CAPITAL
10 Bank loans 25.1 27.0 35.1
11 Commercial paper 231.0 205.3 227.9
Debt
12 Owed to parent 65.4 84.5 123.8
13 Not elsewhere classified 383.1 396.2 397.0
14 All other liabilities 226.1 216.0 222.7
15 Capital, surplus, and undivided
profits 132.2 148.2 144.5
16 Total liabilities and capital 1,062.9 1,077.2 1,150.9
2000
Account
Q1 Q2 Q3
ASSETS
1 Accounts receivable, gross(2) 848.7 884.4(r) n.a.
2 Consumer 285.4 294.1 n.a.
3 Business 434.6 454.1(r) n.a.
4 Real estate 128.8 136.2(r) n.a.
5 LESS: Reserves for unearned
income 54.0 57.0 n.a.
6 Reserves for losses 14.0 14.4 n.a.
7 Accounts receivable, net 780.7 813.1(r) n.a.
8 All other 412.7 419.4 n.a.
9 Total assets 1,193.4 1,232.4(r) n.a.
LIABILITIES AND CAPITAL
10 Bank loans 28.5 33.3 n.a.
11 Commercial paper 230.2 234.2 n.a.
Debt
12 Owed to parent 145.1 136.8 n.a.
13 Not elsewhere classified 412.0 445.1 n.a.
14 All other liabilities 247.6 249.6 n.a.
15 Capital, surplus, and undivided
profits 130.1 135.3 n.a.
16 Total liabilities and capital 1,193.4 1,234.4 n.a.
(1.) Includes finance company subsidiaries of bank holding companies
but not of retailers and banks. Data are amounts carried on the balance
sheets of finance companies; securitized
pools are not shown, as they are not on the books.
(2.) Before deduction for unearned income and losses. Excludes
pools of securitized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables(1)
Billions of dollars, amounts outstanding
2000
Type of credit 1997 1998 1999
Feb.
Seasonally adjusted
1 Total 810.5 875.8 993.9 1,032.2
2 Consumer 327.9 352.8 385.3 395.5
3 Real estate 121.1 131.4 154.7 162.3
4 Business 361.5 391.6 453.9 474.4
Not seasonally adjusted
5 Total 818.1 884.0 1,003.2 1,031.9
6 Consumer 330.9 356.1 388.8 392.3
7 Motor vehicles loans 87.0 103.1 114.7 121.3
8 Motor vehicle leases 96.8 93.3 98.3 100.7
9 Revolving(2) 38.6 32.3 33.8 32.9
10 Other(3) 34.4 33.1 33.1 32.7
Securitized assets(4)
11 Motor vehicle loans 44.3 54.8 71.1 67.8
12 Motor vehicle leases 10.8 12.7 9.7 9.2
13 Revolving .0 8.7 10.5 10.4
14 Other 19.0 18.1 17.7 17.3
15 Real estate 121.1 131.4 154.7 162.3
16 One- to four-family 59.0 75.7 88.3 91.7
17 Other 28.9 26.6 38.3 38.4
Securitized real
estate assets(4)
18 One- to four-family 33.0 29.0 28.0 32.0
19 Other .2 .1 .2 .2
20 Business 366.1 396.5 459.6 477.4
21 Motor vehicles 63.5 79.6 87.8 89.6
22 Retail loans 25.6 28.1 33.2 33.7
23 Wholesale loans(5) 27.7 32.8 34.7 35.8
24 Leases 10.2 18.7 19.9 20.1
25 Equipment 203.9 198.0 221.9 225.1
26 Loans 51.5 50.4 52.2 52.8
27 Leases 152.3 147.6 169.7 172.3
28 Other business
receivables(6) 51.1 69.9 95.5 101.4
Securitized assets(4)
29 Motor vehicles 33.0 29.2 31.5 31.0
30 Retail loans 2.4 2.6 2.9 2.8
31 Wholesale loans 30.5 24.7 26.4 26.1
32 Leases .0 1.9 2.1 2.1
33 Equipment 10.7 13.0 14.6 22.5
34 Loans 4.2 6.6 7.9 15.9
35 Leases 6.5 6.4 6.7 6.6
36 Other business
receivables(6) 4.0 6.8 8.4 7.7
2000
Type of credit
Mar. Apr. May
Seasonally adjusted
1 Total 1,054.1 1,073.3 1,088.7
2 Consumer 396.7 398.0 400.7
3 Real estate 167.9 173.1 178.4
4 Business 489.4 502.2 509.5
Not seasonally adjusted
5 Total 1,057.0 1,073.6 1,088.5
6 Consumer 392.8 394.4 399.4
7 Motor vehicles loans 121.1 120.9 124.1
8 Motor vehicle leases 101.7 102.8 104.1
9 Revolving(2) 31.5 31.9 31.6
10 Other(3) 31.1 31.2 31.9
Securitized assets(4)
11 Motor vehicle loans 71.2 72.1 71.9
12 Motor vehicle leases 8.8 8.5 8.2
13 Revolving 10.3 10.1 11.1
14 Other 17.1 16.8 16.5
15 Real estate 167.9 173.1 178.4
16 One- to four-family 90.4 93.6 97.3
17 Other 38.4 39.0 39.4
Securitized real
estate assets(4)
18 One- to four-family 38.9 40.2 41.5
19 Other .2 .2 .2
20 Business 496.3 506.1 510.7
21 Motor vehicles 90.2 93.6 94.8
22 Retail loans 32.3 32.7 33.3
23 Wholesale loans(5) 37.9 38.9 39.5
24 Leases 19.9 22.0 22.0
25 Equipment 238.0 243.1 247.3
26 Loans 54.9 55.6 55.9
27 Leases 183.1 187.5 191.5
28 Other business
receivables(6) 106.4 107.4 106.6
Securitized assets(4)
29 Motor vehicles 31.5 32.3 32.0
30 Retail loans 3.2 3.1 3.0
31 Wholesale loans 25.9 26.8 26.7
32 Leases 2.4 2.4 2.4
33 Equipment 22.0 21.7 21.5
34 Loans 15.4 15.2 15.0
35 Leases 6.5 6.5 6.5
36 Other business
receivables(6) 8.3 8.0 8.4
2000
Type of credit
June July Aug.
Seasonally adjusted
1 Total 1,108.5 1,089.1 1,094.1
2 Consumer 401.4 405.9 411.1
3 Real estate 185.7 167.5 169.0
4 Business 521.4 515.8 514.1
Not seasonally adjusted
5 Total 1,114.0 1,082.3 1,087.9
6 Consumer 403.9 408.3 412.3
7 Motor vehicles loans 126.5 129.4 130.7
8 Motor vehicle leases 103.9 104.4 105.4
9 Revolving(2) 33.1 33.6 33.6
10 Other(3) 30.7 31.5 32.3
Securitized assets(4)
11 Motor vehicle loans 74.1 74.5 76.2
12 Motor vehicle leases 7.9 7.6 7.4
13 Revolving 11.1 10.9 10.7
14 Other 16.6 16.4 16.2
15 Real estate 185.7 167.5 169.0
16 One- to four-family 97.2 100.5 101.7
17 Other 39.6 39.7 40.2
Securitized real
estate assets(4)
18 One- to four-family 48.6 27.1 26.8
19 Other .2 0.2 0.2
20 Business 524.5 506.4 506.7
21 Motor vehicles 94.5 89.4 89.6
22 Retail loans 33.8 34.1 34.3
23 Wholesale loans(5) 38.4 32.9 32.6
24 Leases 22.3 22.3 22.7
25 Equipment 250.9 248.6 250.0
26 Loans 56.7 54.8 54.3
27 Leases 194.2 193.9 195.8
28 Other business
receivables(6) 109.8 109.4 108.3
Securitized assets(4)
29 Motor vehicles 31.7 29.8 29.6
30 Retail loans 2.9 2.8 2.7
31 Wholesale loans 26.4 24.6 24.5
32 Leases 2.4 2.4 2.4
33 Equipment 31.1 22.5 22.4
34 Loans 15.8 16.0 15.9
35 Leases 15.2 6.5 6.5
36 Other business
receivables(6) 6.6 6.8 6.8
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to
the June 1996 Survey of Finance Companies. In that benchmark survey,
and in the monthly surveys that have followed, more detailed
breakdowns have been obtained for some components. In addition,
previously unavailable data on securitized real estate loans are
now included in this table. The new information has resulted in some
reclassification of receivables among the three major categories
(consumer, real estate, and business) and in discontinuities in some
component series between May and June 1996.
Includes finance company subsidiaries of bank holding companies but
not of retailers and banks. Data in this table also appear in the
Board's G.20 (422) monthly statistical release. For ordering address,
see inside front cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools
upon which securities have been issued; these balances are no longer
carried on the balance sheets of the loan originator. Data are shown
before deductions for unearned income and losses. Components
may not sum to totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans to
purchase other types of consumer goods such as appliances, apparel,
boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans used
primarily for business or farm purposes; and wholesale and lease
paper for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
2000
Item 1997 1998 1999
Mar.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 180.1 195.2 210.7 226.0
2 Amount of loan (thousands
of dollars) 140.3 151.1 161.7 170.7
3 Loan-to-price ratio
(percent) 80.4 80.0 78.7 77.7
4 Maturity (years) 28.2 28.4 28.8 29.0
5 Fees and charges (percent
of loan amount)(2) 1.02 .89 .77 .68
Yield (percent per year)
6 Contract rate(1) 7.57 6.95 6.94 7.49
7 Effective rate(1,3) 7.73 7.08 7.06 7.60
8 Contract rate
(HUD series)(4) 7.76 7.00 7.45 8.19
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages
(Section 203)(5) 7.89 7.04 7.74 8.35
10 GNMA securities(6) 7.26 6.43 7.03 7.79
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings
(end of period)
11 Total 316,678 414,515 523,941 538,751
12 FHA/VA insured 31,925 33,770 55,318 58,451
13 Conventional 284,753 380,745 468,623 480,300
14 Mortgage transactions
purchased (during period) 70,465 188,448 195,210 8,801
Mortgage commitments
(during period)
15 Issued(7) 69,965 193,795 187,948 10,051
16 To sell(8) 1,298 1,880 5,900 1,954
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings
(end of period)(8)
17 Total 164,421 255,010 324,443 336,338
18 FHA/VA insured 177 785 1,836 2,521
19 Conventional 164,244 254,225 322,607 333,817
Mortgage transactions
(during period)
20 Purchases 117,401 267,402 239,793 9,323
21 Sales 114,258 250,565 233,031 8,569
22 Mortgage commitments
contracted (during
period)(9) 120,089 281,899 228,432 10,122
2000
Item
Apr. May June
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 224.2 232.2 238.6
2 Amount of loan (thousands
of dollars) 170.2 176.3 178.3
3 Loan-to-price ratio
(percent) 77.9 78.0 76.9
4 Maturity (years) 29.1 29.2 29.2
5 Fees and charges (percent
of loan amount)(2) .68 0.71 .69
Yield (percent per year)
6 Contract rate(1) 7.52 7.44 7.40
7 Effective rate(1,3) 7.63 7.55 7.50
8 Contract rate
(HUD series)(4) 8.29 8.26 n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages
(Section 203)(5) 8.33 8.58 n.a.
10 GNMA securities(6) 7.64 8.06 7.69
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings
(end of period)
11 Total 539,181 545,803 552,166
12 FHA/VA insured 58,899 59,140 59,703
13 Conventional 480,282 486,663 492,463
14 Mortgage transactions
purchased (during period) 6,257 12,872 12,842
Mortgage commitments
(during period)
15 Issued(7) 12,524 10,450 11,825
16 To sell(8) 1,340 1,594 1,254
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings
(end of period)(8)
17 Total 339,207 347,370 350,836
18 FHA/VA insured 1,987 3,116 2,892
19 Conventional 337,220 344,254 347,944
Mortgage transactions
(during period)
20 Purchases 8,393 15,741 12,271
21 Sales 8,077 15,261 11,806
22 Mortgage commitments
contracted (during
period)(9) 8,750 13,807 13,596
2000
Item
July Aug. Sept.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 235.8 237.0 241.9
2 Amount of loan (thousands
of dollars) 178.3 179.7 182.5
3 Loan-to-price ratio
(percent) 77.7 77.7 77.1
4 Maturity (years) 29.3 29.3 29.2
5 Fees and charges (percent
of loan amount)(2) .66 .68 .70
Yield (percent per year)
6 Contract rate(1) 7.41 7.44 7.41
7 Effective rate(1,3) 7.51 7.54 7.52
8 Contract rate
(HUD series)(4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages
(Section 203)(5) n.a. n.a. n.a.
10 GNMA securities(6) 7.59 7.44 7.43
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings
(end of period)
11 Total 561,045 568,187 574,087
12 FHA/VA insured 60,397 60,150 59,961
13 Conventional 500,648 508,037 514,126
14 Mortgage transactions
purchased (during period) 15,128 13,352 11,501
Mortgage commitments
(during period)
15 Issued(7) 16,660 14,253 16,143
16 To sell(8) 436 236 693
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings
(end of period)(8)
17 Total 354,020 357,002 361,624
18 FHA/VA insured 2,858 2,903(r) 3,517
19 Conventional 351,162 354,099(r) 358,107
Mortgage transactions
(during period)
20 Purchases 10,912 16,056 21,748
21 Sales 10,539 15,558 21,189
22 Mortgage commitments
contracted (during
period)(9) 10,803 17,468 19,481
(1.) Weighted averages based on sample surveys of mortgages originated
by major institutional lender groups for purchase of newly built homes;
compiled by the Federal Housing Finance Board in cooperation with the
Federal Deposit Insurance Corporation.
(2.) Includes all fees, commissions, discounts, and "points" paid
(by the borrower or the seller) to obtain a loan.
(3.) Average effective interest rate on loans closed for purchase of
newly built homes, assuming prepayment at the end of ten years.
(4.) Average contract rate on new commitments for conventional first
mortgages; from U.S. Department of Housing and Urban Development
(HUD). Based on transactions on the first day of the subsequent month.
(5.) Average gross yield on thirty-year, minimum-downpayment first
mortgages insured by the Federal Housing Administration (FHA) for
immediate delivery in the private secondary market. Based on
transactions on first day of subsequent month.
(6.) Average net yields to investors on fully modified pass-through
securities backed by mortgages and guaranteed by the Government
National Mortgage Association (GNMA), assuming prepayment in twelve
years on. pools of thirty-year mortgages insured by the Federal
Housing Administration or guaranteed by the Department of Veterans
Affairs.
(7.) Does not include standby commitments issued, but includes
standby commitments converted.
(8.) Includes participation loans as well as whole loans.
(9.) Includes conventional and government-underwritten loans.
The Federal Home Loan Mortgage Corporation's mortgage commitments
and mortgage transactions include activity under mortgage securities
swap programs, whereas the corresponding data for FNMA exclude swap
activity.
1.54 MORTGAGE DEBT OUTSTANDING(1)
Millions of dollars, end of period
Type of holder and property 1996 1997 1998
1 All holders 4,865,412 5,197,838 5,722,645
By type of property
2 One- to four-family residences 3,716,055 3,967,842 4,353,048
3 Multifamily residences 288,579 301,838 329,813
4 Nonfarm, nonresidential 773,643 837,859 943,278
5 Farm 87,134 90,299 96,506
By type of holder
6 Major financial institutions 1,981,886 2,083,881 2,194,813
7 Commercial banks(2) 1,145,389 1,245,315 1,337,217
8 One- to four-family 677,603 745,510 797,492
9 Multifamily 45,451 49,670 54,116
10 Nonfarm, nonresidential 397,452 423,148 456,574
11 Farm 24,883 26,986 29,035
12 Savings institutions(3) 628,335 631,726 643,957
13 One- to four-family 513,712 520,682 533,918
14 Multifamily 61,570 59,540 56,821
15 Nonfarm, nonresidential 52,723 51,150 52,801
16 Farm 331 354 417
17 Life insurance companies 208,162 206,840 213,640
18 One- to four-family 6,977 7,187 6,590
19 Multifamily 30,750 30,402 31,522
20 Nonfarm, nonresidential 160,315 158,779 164,004
21 Farm 10,120 10,472 11,524
22 Federal and related agencies 295,192 286,194 293,613
23 Government National Mortgage
Association 2 8 7
24 One- to four-family 2 8 7
25 Multifamily 0 0 0
26 Farmers Home Administration(4) 41,596 41,195 40,851
27 One- to four-family 17,303 17,253 16,895
28 Multifamily 11,685 11,720 11,739
29 Nonfarm, nonresidential 6,841 7,370 7,705
30 Farm 5,768 4,852 4,513
31 Federal Housing and Veterans'
Administrations 6,244 3,811 3,674
32 One- to four-family 3,524 1,767 1,849
33 Multifamily 2,719 2,044 1,825
34 Resolution Trust Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 2,431 724 361
40 One- to four-family 365 109 54
41 Multifamily 413 123 61
42 Nonfarm, nonresidential 1,653 492 245
43 Farm 0 0 0
44 Federal National Mortgage
Association 168,813 161,308 157,675
45 One- to four-family 155,008 149,831 147,594
46 Multifamily 13,805 11,477 10,081
47 Federal Land Banks 29,602 30,657 32,983
48 One- to four-family 1,742 1,804 1,941
49 Farm 0 0 0
50 Federal Home Loan Mortgage
Corporation 46,504 48,454 57,085
51 One- to four-family 41,758 42,629 49,106
52 Multifamily 4,746 5,825 7,979
53 Mortgage pools or trusts(5) 4,865,412 5,197,838 5,722,645
54 Government National Mortgage
Association 506,246 536,879 537,446
55 One- to four-family 494,064 523,225 522,498
56 Multifamily 12,182 13,654 14,948
57 Federal Home Loan Mortgage
Corporation 554,260 579,385 646,459
58 One- to four-family 551,513 576,846 643,465
59 Multifamily 2,747 2,539 2,994
60 Federal National Mortgage
Association 650,779 709,582 834,517
61 One- to four-family 633,209 687,981 804,204
62 Multifamily 17,570 21,601 30,313
63 Farmers Home Administration(4) 3 2 1
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 3 2 1
68 Private mortgage conduits 329,559 413,502 571,340
69 One- to four-family(6) 258,800 316,400 412,700
70 Multifamily 16,369 21,591 34,323
71 Nonfarm, nonresidential 54,390 75,511 124,317
72 Farm 0 0 0
73 Individuals and others(7) 547,486 588,413 644,456
74 One- to four-family 360,476 376,574 413,770
75 Multifamily 68,572 71,651 73,081
76 Nonfarm, nonresidential 100,269 121,409 137,632
77 Farm 18,169 18,779 19,974
1999
Type of holder and property
Q2 Q3 Q4
1 All holders 6,015,365 6,224,771 6,375,447
By type of property
2 One- to four-family residences 4,559,021 4,690,310 4,786,609
3 Multifamily residences 348,658 359,323 373,189
4 Nonfarm, nonresidential 1,008,048 1,073,743 1,112,686
5 Farm 99,638 101,395 102,962
By type of holder
6 Major financial institutions 2,242,431 2,321,356 2,394,923
7 Commercial banks(2) 1,361,365 1,418,819 1,495,502
8 One- to four-family 790,372 827,291 879,552
9 Multifamily 60,529 63,964 67,591
10 Nonfarm, nonresidential 479,930 496,246 516,520
11 Farm 30,536 31,320 31,839
12 Savings institutions(3) 656,518 676,346 668,634
13 One- to four-family 544,962 560,622 549,072
14 Multifamily 55,016 57,282 59,138
15 Nonfarm, nonresidential 56,096 57,983 59,948
16 Farm 443 459 475
17 Life insurance companies 224,548 226,190 230,787
18 One- to four-family 7,292 7,432 5,934
19 Multifamily 31,800 31,998 32,818
20 Nonfarm, nonresidential 173,495 174,571 179,048
21 Farm 11,961 12,189 12,987
22 Federal and related agencies 289,519 322,572 322,352
23 Government National Mortgage
Association 8 8 7
24 One- to four-family 8 8 7
25 Multifamily 0 0 0
26 Farmers Home Administration(4) 40,766 73,705 73,871
27 One- to four-family 16,653 16,583 16,506
28 Multifamily 11,735 11,745 11,741
29 Nonfarm, nonresidential 7,943 41,068 41,355
30 Farm 4,435 4,308 4,268
31 Federal Housing and Veterans'
Administrations 3,490 3,889 3,712
32 One- to four-family 1,623 2,013 1,851
33 Multifamily 1,867 1,876 1,861
34 Resolution Trust Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 189 163 152
40 One- to four-family 28 24 23
41 Multifamily 32 28 26
42 Nonfarm, nonresidential 129 111 103
43 Farm 0 0 0
44 Federal National Mortgage
Association 155,637 153,172 151,500
45 One- to four-family 145,033 142,982 141,195
46 Multifamily 10,604 10,190 10,305
47 Federal Land Banks 33,666 34,217 34,187
48 One- to four-family 1,981 2,013 2,012
49 Farm 0 0 0
50 Federal Home Loan Mortgage
Corporation 54,282 55,695 56,676
51 One- to four-family 43,574 44,010 44,321
52 Multifamily 10,708 11,685 12,355
53 Mortgage pools or trusts(5) 6,015,365 6,224,771 6,375,447
54 Government National Mortgage
Association 553,196 569,038 582,263
55 One- to four-family 537,287 552,670 565,189
56 Multifamily 15,909 16,368 17,074
57 Federal Home Loan Mortgage
Corporation 718,085 738,581 749,081
58 One- to four-family 714,844 735,088 744,619
59 Multifamily 3,241 3,493 4,462
60 Federal National Mortgage
Association 911,435 938,484 960,883
61 One- to four-family 877,863 903,531 924,941
62 Multifamily 33,572 34,953 35,942
63 Farmers Home Administration(4) 1 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 1 0 0
68 Private mortgage conduits 627,402 645,084 662,565
69 One- to four-family(6) 447,938 455,276 462,600
70 Multifamily 39,435 40,936 42,628
71 Nonfarm, nonresidential 140,029 148,873 157,337
72 Farm 0 0 0
73 Individuals and others(7) 673,297 689,656 703,379
74 One- to four-family 428,202 439,219 446,771
75 Multifamily 74,090 74,629 77,016
76 Nonfarm, nonresidential 150,428 154,892 158,375
77 Farm 20,577 20,916 21,217
2000
Type of holder and property
Q1 Q2
1 All holders 6,489,770 6,659,097
By type of property
2 One- to four-family residences 4,862,747 4,982,853
3 Multifamily residences 381,699 392,919
4 Nonfarm, nonresidential 1,141,577 1,175,641
5 Farm 103,748 107,685
By type of holder
6 Major financial institutions 2,456,786 2,551,751
7 Commercial banks(2) 1,546,816 1,614,307
8 One- to four-family 904,581 948,496
9 Multifamily 72,431 75,713
10 Nonfarm, nonresidential 537,131 556,382
11 Farm 32,673 33,717
12 Savings institutions(3) 680,745 701,992
13 One- to four-family 560,046 578,641
14 Multifamily 57,759 59,142
15 Nonfarm, nonresidential 62,447 63,691
16 Farm 493 518
17 Life insurance companies 229,225 235,452
18 One- to four-family 5,874 4,826
19 Multifamily 32,602 33,669
20 Nonfarm, nonresidential 177,870 182,514
21 Farm 12,879 14,444
22 Federal and related agencies 323,145 334,715
23 Government National Mortgage
Association 7 7
24 One- to four-family 7 7
25 Multifamily 0 0
26 Farmers Home Administration(4) 72,899 72,896
27 One- to four-family 16,456 16,435
28 Multifamily 11,732 11,729
29 Nonfarm, nonresidential 40,509 40,554
30 Farm 4,202 4,179
31 Federal Housing and Veterans'
Administrations 3,794 3,845
32 One- to four-family 1,847 1,832
33 Multifamily 1,947 2,013
34 Resolution Trust Corporation 0 0
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 98 72
40 One- to four-family 15 11
41 Multifamily 17 12
42 Nonfarm, nonresidential 67 49
43 Farm 0 0
44 Federal National Mortgage
Association 150,312 155,364
45 One- to four-family 139,986 144,335
46 Multifamily 10,326 11,029
47 Federal Land Banks 34,142 34,820
48 One- to four-family 2,009 2,039
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 57,009 56,972
51 One- to four-family 43,384 42,892
52 Multifamily 13,625 14,080
53 Mortgage pools or trusts(5) 6,489,770 6,659,097
54 Government National Mortgage
Association 589,203 590,903
55 One- to four-family 571,517 572,856
56 Multifamily 17,686 18,047
57 Federal Home Loan Mortgage
Corporation 757,106 768,641
58 One- to four-family 752,607 763,890
59 Multifamily 4,499 4,751
60 Federal National Mortgage
Association 975,815 995,815
61 One- to four-family 938,898 957,584
62 Multifamily 36,917 38,231
63 Farmers Home Administration(4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 678,156 686,037
69 One- to four-family(6) 471,390 471,000
70 Multifamily 43,835 44,931
71 Nonfarm, nonresidential 162,930 170,106
72 Farm 0 0
73 Individuals and others(7) 709,560 731,235
74 One- to four-family 449,496 467,572
75 Multifamily 78,074 79,272
76 Nonfarm, nonresidential 160,622 162,345
77 Farm 21,368 22,046
(1.) Multifamily debt refers to loans on structures of five or more
units.
(2.) Includes loans held by nondeposit trust companies but not loans
held by bank trust departments.
(3.) Includes savings banks and savings and loan associations.
(4.) FmHA-guaranteed securities sold to the Federal Financing Bank
were reallocated from FmHA mortgage pools to FmHA mortgage holdings
in 1986:Q4 because of accounting changes by the Farmers Home
Administration.
(5.) Outstanding principal balances of mortgage-backed securities
insured or guaranteed by the agency indicated.
(6.) Includes securitized home equity loans.
(7.) Other holders include mortgage companies, real estate investment
trusts, state and local credit agencies, state and local retirement
funds, noninsured pension funds, credit unions, and finance companies.
SOURCE. Based on data from various institutional and government
sources. Separation of nonfarm mortgage debt by type of property, if
not reported directly, and interpolations and extrapolations, when
required for some quarters, are estimated in part by the Federal
Reserve. Line 69 from Inside Mortgage Securities and other sources.
1.55 CONSUMER CREDIT(1)
Millions of dollars, amounts outstanding, end of period
Holder and type of credit 1997 1998 1999
Seasonally adjusted
1 Total 1,234,461 1,301,023 1,393,657
2 Revolving 531,163 560,504 595,610
3 Nonrevolving(2) 703,297 740,519 798,047
Not seasonally adjusted
4 Total 1,264,103 1,331,742 1,426,151
By major holder
5 Commercial banks 512,563 508,932 499,758
6 Finance companies 160,022 168,491 181,573
7 Credit unions 152,362 155,406 167,921
8 Savings institutions 47,172 51,611 61,527
9 Nonfinancial business 78,927 74,877 80,311
10 Pools of securitized
assets(3) 313,057 372,425 435,061
By major type of
credit(4)
11 Revolving 555,858 586,528 623,245
12 Commercial banks 219,826 210,346 189,352
13 Finance companies 38,608 32,309 33,814
14 Credit unions 19,552 19,930 20,641
15 Savings institutions 11,441 12,450 15,838
16 Nonfinancial
business 44,966 39,166 42,783
17 Pools of securitized
assets(3) 221,465 272,327 320,817
18 Nonrevolving 708,245 745,214 802,906
19 Commercial banks 292,737 298,586 310,406
20 Finance companies 121,414 136,182 147,759
21 Credit unions 132,810 135,476 147,280
22 Savings institutions 35,731 39,161 45,689
23 Nonfinancal business 33,961 35,711 37,528
24 Pools of securitized
assets(3) 91,592 100,098 114,244
2000
Holder and type of credit
Mar. Apr. May
Seasonally adjusted
1 Total 1,429,166(r) 1,435,583(r) 1,447,368(r)
2 Revolving 615,452(r) 622,223(r) 628,764(r)
3 Nonrevolving(2) 813,715(r) 813,360(r) 818,604(r)
Not seasonally adjusted
4 Total 1,415,965(r) 1,423,396(r) 1,434,251(r)
By major holder
5 Commercial banks 497,120 499,696 502,030
6 Finance companies 183,705 184,050 187,610
7 Credit unions 169,225(r) 171,038(r) 173,471(r)
8 Savings institutions 58,968 59,628 60,289
9 Nonfinancial business 72,907(r) 72,973(r) 73,523(r)
10 Pools of securitized
assets(3) 434,040 436,011 437,328
By major type of
credit(4)
11 Revolving 609,028(r) 615,354(r) 621,127(r)
12 Commercial banks 184,901 188,691 192,352
13 Finance companies 31,456 31,928 31,628
14 Credit unions 19,706(r) 19,851(r) 19,930(r)
15 Savings institutions 14,975 15,135 15,295
16 Nonfinancial
business 37,430 37,418 37,766
17 Pools of securitized
assets(3) 320,560 322,331 324,156
18 Nonrevolving 806,937(r) 808,042(r) 813,124(r)
19 Commercial banks 312,219 311,005 309,678
20 Finance companies 152,249 152,122 155,982
21 Credit unions 149,519(r) 151,187(r) 153,541(r)
22 Savings institutions 43,993 44,493 44,994
23 Nonfinancal business 35,477(r) 35,555(r) 35,757(r)
24 Pools of securitized
assets(3) 113,480 113,680 113,172
2000
Holder and type of credit
June July Aug.
Seasonally adjusted
1 Total 1,462,821(r) 1,469,515 1,481,833
2 Revolving 634,652 638,172 644,856
3 Nonrevolving(2) 828,170(r) 831,344 836,976
Not seasonally adjusted
4 Total 1,454,035(r) 1,462,042 1,483,787
By major holder
5 Commercial banks 506,245 505,314 518,787
6 Finance companies 190,268 194,438 196,555
7 Credit unions 176,030(r) 178,034 180,679
8 Savings institutions 60,951 61,188 61,426
9 Nonfinancial business 73,500(r) 71,951 73,024
10 Pools of securitized
assets(3) 447,041 451,117 453,316
By major type of
credit(4)
11 Revolving 627,909(r) 630,402 641,035
12 Commercial banks 194,793 194,591 204,406
13 Finance companies 33,063 33,565 33,558
14 Credit unions 20,172(r) 20,476 20,796
15 Savings institutions 15,455 15,419 15,383
16 Nonfinancial
business 37,098(r) 36,078 36,669
17 Pools of securitized
assets(3) 327,328 330,273 330,223
18 Nonrevolving 826,126(r) 831,640 842,752
19 Commercial banks 311,452 310,723 314,381
20 Finance companies 157,205 160,873 162,997
21 Credit unions 155,858(r) 157,558 159,883
22 Savings institutions 45,496 45,769 46,043
23 Nonfinancal business 36,402(r) 35,873 36,355
24 Pools of securitized
assets(3) 119,713 120,844 123,093
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals, excluding loans
secured by real estate. Data in this table also appear in the Board's
G.19 (421) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured
or unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT(1)
Percent per year except as noted
Item 1997 1998 1999
INTEREST RATES
Commercial banks(2)
1 48-month new car 9.02 8.72 8.44
2 24-month personal 13.90 13.74 13.39
Credit card plan
3 All accounts 15.77 15.71 15.21
4 Accounts assessed interest 15.57 15.59 14.81
Auto finance companies
5 New car 7.12 6.30 6.66
6 Used car 13.27 12.64 12.60
OTHER TERMS(3)
Maturity (months)
7 New car 54.1 52.1 52.7
8 Used car 51.0 53.5 55.9
Loan-to-value ratio
9 New car 92 92 92
10 Used car 99 99 99
Amount financed (dollars)
11 New car 18,077 19,083 19,880
12 Used car 12,281 12,691 13,642
2000
Item
Feb. Mar. Apr. May
INTEREST RATES
Commercial banks(2)
1 48-month new car 8.88 n.a. n.a. 9.21
2 24-month personal 13.76 n.a. n.a. 13.88
Credit card plan
3 All accounts 15.47 n.a. n.a. 15.39
4 Accounts assessed interest 14.32 n.a. n.a. 14.74
Auto finance companies
5 New car 7.34 6.76 6.38 6.51
6 Used car 13.27 13.45 13.52 13.47
OTHER TERMS(3)
Maturity (months)
7 New car 52.7 53.1 53.8 53.5
8 Used car 57.1 57.1 57.1 57.1
Loan-to-value ratio
9 New car 92 93 93 93
10 Used car 98 99 98 99
Amount financed (dollars)
11 New car 20,206 20,395 20,542 20,621
12 Used car 13,697 13,666 13,871 14,132
2000
Item
June July Aug.
INTEREST RATES
Commercial banks(2)
1 48-month new car n.a. n.a. 9.62
2 24-month personal n.a. n.a. 13.85
Credit card plan
3 All accounts n.a. n.a. 15.98
4 Accounts assessed interest n.a. n.a. 15.35
Auto finance companies
5 New car 6.40(r) 6.55(r) 7.46
6 Used car 13.58 13.64 13.70
OTHER TERMS(3)
Maturity (months)
7 New car 55.6(r) 55.6(r) 55.7
8 Used car 57.3 57.2 57.2
Loan-to-value ratio
9 New car 92(r) 92 92
10 Used car 99 100 100
Amount financed (dollars)
11 New car 20,349(r) 20,406(r) 20,664
12 Used car 14,245(r) 14,269(r) 14,166
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this table
also appear in the Board's G.19 (421) monthly statistical release.
For ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS(1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector 1994 1995 1996 1997
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 559.3 711.3 731.4 804.3
By sector and instrument
2 Federal government 155.9 144.4 145.0 23.1
3 Treasury securities 155.7 142.9 146.6 23.2
4 Budget agency securities
and mortgages .2 1.5 -1.6 -.1
5 Nonfederal 403.4 566.9 586.3 781.2
By instrument
6 Commercial paper 21.4 18.1 -.9 13.7
7 Municipal securities and
loans -35.9 -48.2 2.6 71.4
8 Corporate bonds 23.3 91.1 116.3 150.5
9 Bank loans n.e.c 75.2 103.7 70.5 106.5
10 Other loans and advances 34.0 67.2 33.5 69.1
11 Mortgages 160.5 196.0 275.7 317.5
12 Home 183.2 180.7 242.5 252.3
13 Multifamily residential -3.6 5.8 9.4 8.3
14 Commercial -21.3 7.9 21.3 53.7
15 Farm 2.2 1.6 2.6 3.2
16 Consumer credit 124.9 138.9 88.8 52.5
By borrowing sector
17 Household 313.4 348.8 347.6 333.4
18 Nonfinancial business 136.3 269.5 245.5 391.8
19 Corporate 128.7 236.1 157.0 270.6
20 Nonfarm noncorporate 3.3 30.6 83.8 115.0
21 Farm 4.4 2.9 4.8 6.2
22 State and local
government -46.2 -51.5 -6.8 56.1
23 Foreign net borrowing in
United States -13.9 78.5 88.4 71.8
24 Commercial paper -26.1 13.5 11.3 3.7
25 Bonds 12.2 57.1 67.0 61.4
26 Bank loans n.e.c 1.4 8.5 9.1 8.5
27 Other loans and advances -1.4 -.5 1.0 -1.8
28 Total domestic plus foreign 545.3 789.8 819.8 876.1
Financial sectors
29 Total net borrowing by
financial sectors 468.4 453.9 545.8 653.7
By instrument
30 Federal government related 287.5 204.1 231.5 212.8
31 Government-sponsored
enterprise securities 176.9 105.9 90.4 98.4
32 Mortgage pool securities 115.4 98.2 141.1 114.5
33 Loans from U.S.
government -4.8 .0 .0 .0
34 Private 180.9 249.8 314.4 440.9
35 Open market paper 40.5 42.7 92.2 166.7
36 Corporate bonds 121.8 195.9 173.8 210.5
37 Bank loans n.e.c -13.7 2.5 12.6 13.2
38 Other loans and advance 22.6 3.4 27.9 35.6
39 Mortgages 9.8 5.3 7.9 14.9
By borrowing sector
40 Commercial banking 20.1 22.5 13.0 46.1
41 Savings institutions 12.8 2.6 25.5 19.7
42 Credit unions .2 -.1 .1 .1
43 Life insurance companies .3 -.1 1.1 .2
44 Government-sponsored
enterprises 172.1 105.9 90.4 98.4
45 Federally related mortgage
pools 115.4 98.2 141.1 114.5
46 Issuers of asset-backed
securities (ABSs) 76.5 142.4 150.8 202.2
47 Finance companies 48.6 50.2 45.9 48.7
48 Mortgage companies -11.5 -2.2 4.1 -4.6
49 Real estate investment
trusts (REITs) 10.2 4.5 11.9 39.6
50 Brokers and dealers .5 -5.0 -2.0 8.1
51 Funding corporations 23.1 34.9 64.1 80.7
All sectors
52 Total net borrowing, all 1,013.8 1,243.8 1,365.6 1,529.8
sectors
53 Open market paper 35.7 74.3 102.6 184.1
54 U.S. government securities 448.1 348.5 376.5 235.9
55 Municipal securities -35.9 -48.2 2.6 71.4
56 Corporate and foreign bonds 157.3 344.1 357.0 422.4
57 Bank loans n.e.c 62.9 114.7 92.1 128.2
58 Other loans and advances 50.4 70.1 62.5 102.8
59 Mortgages 170.3 201.3 283.6 332.4
60 Consumer credit 124.9 138.9 88.8 52.5
Funds raised through mutual funds
and corporate equities
61 Total net issues 113.4 131.5 231.9 181.2
62 Corporate equities 12.8 -16.0 -5.7 -83.9
63 Nonfinancial corporations -44.9 -58.3 -69.5 -114.4
64 Foreign shares purchased
by U.S. residents 48.1 50.4 82.8 57.6
65 Financial corporations 9.6 -8.1 -19.0 -27.1
66 Mutual fund shares 100.6 147.4 237.6 265.1
1998 1999
Transaction category or sector 1998
Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,042.9 1,065.8 1,278.3 939.4
By sector and instrument
2 Federal government -52.6 -65.2 -83.4 -98.5
3 Treasury securities -54.6 -77.4 -81.9 -99.1
4 Budget agency securities
and mortgages 2.0 12.2 -1.5 .6
5 Nonfederal 1,095.5 1,131.0 1,361.8 1,037.9
By instrument
6 Commercial paper 24.4 -43.0 58.3 -2.6
7 Municipal securities and
loans 96.8 92.8 92.1 56.8
8 Corporate bonds 218.7 193.2 274.0 287.6
9 Bank loans n.e.c 108.2 107.5 86.0 24.0
10 Other loans and advances 74.3 101.4 148.0 2.3
11 Mortgages 505.5 609.2 572.8 608.4
12 Home 386.9 444.1 411.8 440.8
13 Multifamily residential 20.3 26.9 35.5 33.1
14 Commercial 92.0 129.6 122.0 125.6
15 Farm 6.2 8.6 3.6 9.0
16 Consumer credit 67.6 69.9 130.5 61.4
By borrowing sector
17 Household 480.5 526.7 554.6 520.7
18 Nonfinancial business 534.7 527.4 727.4 473.5
19 Corporate 417.2 404.9 626.3 372.0
20 Nonfarm noncorporate 109.8 115.3 96.2 99.8
21 Farm 7.7 7.2 4.9 1.7
22 State and local
government 80.3 76.9 79.8 43.6
23 Foreign net borrowing in
United States 43.3 -25.6 30.7 -24.5
24 Commercial paper 7.8 -4.7 18.0 -27.5
25 Bonds 34.8 -21.5 15.4 .2
26 Bank loans n.e.c 6.7 9.8 .9 5.6
27 Other loans and advances -6.0 -9.1 -3.5 -2.8
28 Total domestic plus foreign 1,086.2 1,040.2 1,309.1 914.9
Financial sectors
29 Total net borrowing by
financial sectors 1,073.9 1,295.7 1,228.8 995.3
By instrument
30 Federal government related 470.9 677.6 589.5 576.6
31 Government-sponsored
enterprise securities 278.3 510.5 193.0 304.7
32 Mortgage pool securities 192.6 167.1 396.6 271.9
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 603.0 618.1 639.2 418.8
35 Open market paper 161.0 130.9 78.7 57.3
36 Corporate bonds 296.9 292.6 473.8 254.8
37 Bank loans n.e.c 30.1 9.9 -6.7 11.0
38 Other loans and advance 90.2 154.2 73.3 107.9
39 Mortgages 24.8 30.6 20.1 -12.3
By borrowing sector
40 Commercial banking 72.9 65.3 46.1 61.5
41 Savings institutions 52.2 88.6 75.2 59.2
42 Credit unions .6 .4 1.5 1.4
43 Life insurance companies .7 1.8 3.3 3.0
44 Government-sponsored
enterprises 278.3 510.5 193.0 304.7
45 Federally related mortgage
pools 192.6 167.1 396.6 271.9
46 Issuers of asset-backed
securities (ABSs) 321.4 340.1 289.7 301.5
47 Finance companies 43.0 6.8 77.0 90.5
48 Mortgage companies 1.6 3.0 -4.6 5.1
49 Real estate investment
trusts (REITs) 62.7 44.0 25.6 -19.7
50 Brokers and dealers 7.2 12.4 -31.1 -17.4
51 Funding corporations 40.7 55.7 156.5 -66.2
All sectors
52 Total net borrowing, all 2,160.1 2,335.9 2,537.8 1,910.2
sectors
53 Open market paper 193.1 83.2 155.1 27.2
54 U.S. government securities 418.3 612.4 506.1 478.1
55 Municipal securities 96.8 92.8 92.1 56.8
56 Corporate and foreign bonds 550.4 464.3 763.1 542.6
57 Bank loans n.e.c 145.0 127.1 80.1 40.6
58 Other loans and advances 158.5 246.4 217.8 107.5
59 Mortgages 530.3 639.8 593.0 596.2
60 Consumer credit 67.6 69.9 130.5 61.4
Funds raised through mutual funds
and corporate equities
61 Total net issues
100.0 9.9 154.2 178.5
62 Corporate equities -174.6 -215.6 -86.4 -33.9
63 Nonfinancial corporations -267.0 -491.3 -52.1 -338.4
64 Foreign shares purchased 101.2 330.2 -19.8 284.4
by U.S. residents -8.9 -54.5 -14.5 20.2
65 Financial corporations 274.6 225.5 240.6 212.4
66 Mutual fund shares
1999 2000
Transaction category or sector
Q3 Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,170.7 1,095.5 947.3 994.4
By sector and instrument
2 Federal government -71.4 -31.5 -215.5 -414.0
3 Treasury securities -71.5 -31.5 -213.5 -415.8
4 Budget agency securities
and mortgages .0 .0 -2.1 1.8
5 Nonfederal 1,242.2 1,126.9 1,162.9 1,408.4
By instrument
6 Commercial paper 49.8 44.0 32.2 116.9
7 Municipal securities and
loans 71.3 52.5 8.9 34.0
8 Corporate bonds 202.8 155.2 186.2 153.8
9 Bank loans n.e.c 112.3 108.2 131.9 159.7
10 Other loans and advances 79.2 55.4 162.1 144.6
11 Mortgages 650.7 601.7 494.5 667.6
12 Home 480.0 398.9 346.2 500.6
13 Multifamily residential 44.2 47.9 31.5 36.6
14 Commercial 119.4 152.4 109.9 118.5
15 Farm 7.0 2.5 6.9 11.9
16 Consumer credit 76.2 109.5 143.1 131.8
By borrowing sector
17 Household 588.5 509.6 531.4 635.4
18 Nonfinancial business 601.3 583.7 627.7 747.9
19 Corporate 467.2 455.4 503.4 615.5
20 Nonfarm noncorporate 125.5 122.7 109.5 120.8
21 Farm 8.5 5.6 14.7 11.6
22 State and local
government 52.5 33.6 3.8 25.0
23 Foreign net borrowing in
United States 77.3 17.6 116.9 -10.5
24 Commercial paper 41.1 33.6 56.7 10.9
25 Bonds 44.0 -2.7 45.7 -29.6
26 Bank loans n.e.c -6.6 .9 15.4 6.1
27 Other loans and advances -1.1 -15.5 -.9 2.0
28 Total domestic plus foreign 1,248.1 1,113.1 1,064.2 983.8
Financial sectors
29 Total net borrowing by
financial sectors 1,064.2 1,063.4 618.3 842.9
By instrument
30 Federal government related 651.6 550.3 249.2 356.4
31 Government-sponsored
enterprise securities 407.1 367.9 104.9 234.8
32 Mortgage pool securities 244.5 182.4 144.3 121.6
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 412.6 513.0 369.2 486.5
35 Open market paper 89.9 479.0 130.9 77.4
36 Corporate bonds 179.5 -21.0 166.5 268.1
37 Bank loans n.e.c -5.9 -55.6 .3 8.8
38 Other loans and advance 139.8 107.5 64.4 122.3
39 Mortgages 9.4 3.2 7.0 10.0
By borrowing sector
40 Commercial banking 107.0 54.1 72.4 115.1
41 Savings institutions 51.9 5.8 40.6 56.3
42 Credit unions 2.8 3.3 -2.9 .9
43 Life insurance companies 1.1 -4.4 -.7 -1.1
44 Government-sponsored
enterprises 407.1 367.9 104.9 234.8
45 Federally related mortgage
pools 244.5 182.4 144.3 121.6
46 Issuers of asset-backed
securities (ABSs) 220.5 124.2 166.0 193.2
47 Finance companies -17.2 99.2 52.3 157.6
48 Mortgage companies -6.1 6.2 -3.0 2.7
49 Real estate investment
trusts (REITs) 7.9 11.3 11.5 9.8
50 Brokers and dealers 16.9 -37.3 44.4 -.7
51 Funding corporations 27.9 250.6 -11.4 -47.4
All sectors
52 Total net borrowing, all
sectors 2,312.3 2,176.5 1,682.6 1,826.7
53 Open market paper
54 U.S. government securities 180.7 556.6 223.7 205.1
55 Municipal securities 580.1 518.9 33.6 -57.6
56 Corporate and foreign bonds 71.3 52.5 8.9 34.0
57 Bank loans n.e.c 426.3 131.5 398.4 392.3
58 Other loans and advances 99.8 55.2 147.7 174.6
59 Mortgages 217.9 147.3 225.7 268.9
60 Consumer credit 660.0 604.9 501.5 677.6
76.2 109.5 143.1 131.8
Funds raised through mutual funds
and corporate equities
61 Total net issues 120.4 172.8 414.3 125.4
62 Corporate equities -7.0 .0 105.2 -123.0
63 Nonfinancial corporations -128.4 -55.0 62.8 -248.0
64 Foreign shares purchased
by U.S. residents 121.7 71.3 63.3 135.0
65 Financial corporations -.3 -16.3 -20.8 -10.0
66 Mutual fund shares 127.5 172.8 309.0 248.4
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.2 through F.4. For ordering address, see
inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS(1)
Billions of dollars except as noted; quarterly data
at seasonally adjusted annual rates
Transaction category 1994 1995 1996 1997
or sector
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 1,013.8 1,243.8 1,365.6 1,529.8
2 Domestic nonfederal
nonfinancial sectors 210.0 -61.3 80.5 17.1
3 Household 246.8 34.1 128.7 31.8
4 Nonfinancial corporate
business 17.7 -8.8 -10.2 -12.7
5 Nonfarm noncorporate
business .6 4.7 -4.3 -2.1
6 State and local
governments -55.0 -91.4 -33.7 .1
7 Federal government -27.4 -.2 -7.4 5.1
8 Rest of the world 132.3 273.9 414.4 311.3
9 Financial sectors 698.8 1,031.4 878.1 1,196.3
10 Monetary authority 31.5 12.7 12.3 38.3
11 Commercial banking 163.4 265.9 187.5 324.3
12 U.S.-chartered banks 148.1 186.5 119.6 274.9
13 Foreign banking offices
in United States 11.2 75.4 63.3 40.2
14 Bank holding companies .9 -.3 3.9 5.4
15 Banks in
U.S.-affiliated areas 3.3 4.2 .7 3.7
16 Savings institutions 6.7 -7.6 19.9 -4.7
17 Credit unions 28.1 16.2 25.5 16.8
18 Bank personal trusts and
estates 7.1 -8.3 -7.7 -25.0
19 Life insurance companies 72.0 100.0 69.6 104.8
20 Other insurance companies 24.9 21.5 22.5 25.2
21 Private pension funds 45.0 20.2 -5.8 19.5
22 State and local
government retirement
funds 30.9 33.6 37.3 63.8
23 Money market mutual funds 30.0 86.5 88.8 87.5
24 Mutual funds -7.1 52.5 48.9 80.9
25 Closed-end funds -3.7 10.5 4.7 -2.9
26 Government-sponsored
enterprises 117.8 86.7 84.2 94.3
27 Federally related
mortgage pools 115.4 98.2 141.1 114.5
28 Asset-backed securities
issuers (ABSs) 69.4 120.6 120.5 163.8
29 Finance companies 48.3 49.9 18.4 21.9
30 Mortgage companies -24.0 -3.4 8.2 -9.1
31 Real estate investment
trusts (REITs) -.7 1.4 4.4 20.2
32 Brokers and dealers -44.2 90.1 -15.7 14.9
33 Funding corporations -12.1 -15.7 13.6 47.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,013.8 1,243.8 1,365.6 1,529.8
Other financial sources
35 Official foreign exchange -5.8 8.8 -6.3 .7
36 Special drawing rights
certificates .0 2.2 -.5 -.5
37 Treasury currency .7 .6 .1 .0
38 Foreign deposits 52.9 35.3 85.9 108.9
39 Net interbank transactions 89.8 10.0 -51.6 -19.7
40 Checkable deposits and
currency -9.7 -12.8 15.7 41.2
41 Small time and savings
deposits -39.9 96.6 97.2 97.1
42 Large time deposits 19.6 65.6 114.0 122.5
43 Money market fund shares 40.5 141.2 145.4 155.9
44 Security repurchase
agreements 78.2 110.5 41.4 120.9
45 Corporate equities 12.8 -16.0 -5.7 -83.9
46 Mutual fund shares 100.6 147.4 237.6 265.1
47 Trade payables 120.0 128.9 114.1 131.2
48 Security credit -.1 26.7 52.4 111.0
49 Life insurance reserves 35.5 45.8 44.5 59.3
50 Pension fund reserves 257.4 171.0 163.0 278.8
51 Taxes payable 2.6 6.2 16.0 15.6
52 Investment in bank
personal trusts 17.8 4.0 -8.6 -56.3
53 Noncorporate proprietors'
equity 43.1 34.6 -3.4 -43.7
54 Miscellaneous 273.2 489.4 525.7 499.6
55 Total financial sources 2,102.9 2,739.7 2,942.6 3,333.6
Liabilities not identified
as assets (-)
56 Treasury currency -.2 -.5 -.9 -.6
57 Foreign deposits 43.0 25.1 59.6 107.4
58 Net interbank liabilities -2.7 -3.1 -3.3 -19.9
59 Security repurchase
agreements 73.5 25.7 4.1 64.3
60 Taxes payable 16.6 21.1 22.9 27.9
61 Miscellaneous -119.2 -180.9 -88.1 -82.0
Floats not included
in assets (-)
62 Federal government
checkable deposits -4.8 -6.0 .5 -2.7
63 Other checkable deposits -2.8 -3.8 -4.0 -3.9
64 Trade credit 27.4 15.6 -21.2 -29.4
65 Total identified to
sectors as assets 2,072.1 2,846.6 2,973.1 3,272.5
1998 1999
Transaction category 1998
or sector
Q4 Q1 Q2
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 2,160.1 2,335.9 2,537.8 1,910.2
2 Domestic nonfederal
nonfinancial sectors 131.8 -188.6 507.8 380.4
3 Household -16.7 -375.6 305.5 280.3
4 Nonfinancial corporate
business 14.0 44.5 67.0 17.8
5 Nonfarm noncorporate
business .1 .1 2.8 1.2
6 State and local
governments 134.5 142.4 132.5 81.0
7 Federal government 13.5 11.8 17.0 6.7
8 Rest of the world 254.2 388.6 256.9 61.6
9 Financial sectors 1,760.6 2,124.1 1,756.2 1,461.5
10 Monetary authority 21.1 23.5 64.5 59.8
11 Commercial banking 305.2 493.3 68.1 166.6
12 U.S.-chartered banks 312.0 507.6 131.5 259.4
13 Foreign banking offices
in United States -11.9 -17.6 -53.1 -102.5
14 Bank holding companies -.9 -7.4 -6.0 .4
15 Banks in
U.S.-affiliated areas 6.0 10.7 -4.4 9.2
16 Savings institutions 36.3 111.0 111.0 85.3
17 Credit unions 19.0 20.4 30.9 32.7
18 Bank personal trusts and
estates -12.8 -13.5 -7.6 -8.4
19 Life insurance companies 76.9 79.0 78.4 68.2
20 Other insurance companies 20.4 67.6 -19.7 26.7
21 Private pension funds 57.8 108.3 57.5 86.6
22 State and local
government retirement
funds 71.5 51.4 76.0 25.1
23 Money market mutual funds 244.0 345.7 215.7 -67.0
24 Mutual funds 124.8 106.3 97.4 117.2
25 Closed-end funds 4.5 4.5 3.1 3.1
26 Government-sponsored
enterprises 261.7 415.2 189.1 251.5
27 Federally related
mortgage pools 192.6 167.1 396.6 271.9
28 Asset-backed securities
issuers (ABSs) 281.7 317.2 272.1 284.8
29 Finance companies 51.9 75.8 85.3 88.1
30 Mortgage companies 3.2 6.0 -9.1 10.2
31 Real estate investment
trusts (REITs) -5.1 -40.8 1.7 -2.2
32 Brokers and dealers 6.8 -210.3 34.6 -119.7
33 Funding corporations -1.0 -3.5 10.5 81.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,160.1 2,335.9 2,537.8 1,910.2
Other financial sources
35 Official foreign exchange 6.6 8.6 -14.0 -5.4
36 Special drawing rights
certificates .0 0 -4.0 .0
37 Treasury currency .0 -2.3 .0 2.1
38 Foreign deposits 2.0 -127.6 113.7 110.1
39 Net interbank transactions -32.3 -115.2 48.3 93.4
40 Checkable deposits and
currency 47.4 53.2 63.6 37.5
41 Small time and savings
deposits 152.4 298.3 -74.8 106.6
42 Large time deposits 92.1 83.6 18.0 42.4
43 Money market fund shares 287.2 289.4 221.3 115.3
44 Security repurchase
agreements 91.3 -207.7 258.0 -26.1
45 Corporate equities -174.6 -215.6 -86.4 -33.9
46 Mutual fund shares 274.6 225.5 240.6 212.4
47 Trade payables 27.0 -35.7 121.7 253.3
48 Security credit 103.3 -19.3 -62.2 139.7
49 Life insurance reserves 48.0 68.9 55.4 42.1
50 Pension fund reserves 248.7 282.6 204.5 248.8
51 Taxes payable 11.8 8.0 -2.1 42.5
52 Investment in bank
personal trusts -48.0 -48.8 -32.0 -25.9
53 Noncorporate proprietors'
equity -46.7 -16.3 -19.2 4.1
54 Miscellaneous 836.2 530.5 398.5 1,393.1
55 Total financial sources 4,086.9 3,395.8 3,986.7 4,662.0
Liabilities not identified
as assets (-)
56 Treasury currency -.7 -3.4 -1.5 .6
57 Foreign deposits -6.4 -142.5 49.3 96.1
58 Net interbank liabilities 3.4 -38.7 49.7 -4.8
59 Security repurchase
agreements 61.4 -18.1 213.5 54.3
60 Taxes payable 13.7 12.8 -9.1 20.1
61 Miscellaneous -54.3 54.1 -533.0 -289.9
Floats not included
in assets (-)
62 Federal government
checkable deposits 2.6 17.1 -2.1 -27.0
63 Other checkable deposits -3.1 -1.8 -2.1 -.9
64 Trade credit -42.1 -32.2 45.6 -18.1
65 Total identified to
sectors as assets 4,112.5 3,548.5 4,176.3 4,831.5
1999 2000
Transaction category
or sector
Q3 Q4 Q1 Q2
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 2,312.3 2,176.5 1,682.6 1,826.7
2 Domestic nonfederal
nonfinancial sectors 268.7 29.3 -104.3 263.4
3 Household 265.1 38.5 -172.9 180.7
4 Nonfinancial corporate
business 45.2 -13.0 63.8 38.5
5 Nonfarm noncorporate
business .8 1.4 2.6 2.8
6 State and local
governments -42.4 2.4 2.3 41.4
7 Federal government 11.2 -11.8 6.2 8.2
8 Rest of the world 385.3 138.7 334.9 185.6
9 Financial sectors 1,647.0 2,020.3 1,445.7 1,369.5
10 Monetary authority 20.6 -42.2 103.4 -3.9
11 Commercial banking 449.4 548.7 377.1 484.7
12 U.S.-chartered banks 421.9 457.7 409.2 505.8
13 Foreign banking offices
in United States 33.2 42.0 4.8 -29.9
14 Bank holding companies -12.4 42.6 -42.2 3.5
15 Banks in
U.S.-affiliated areas 6.6 6.3 5.4 5.4
16 Savings institutions 58.1 20.2 50.2 72.9
17 Credit unions 27.5 18.8 39.9 40.7
18 Bank personal trusts and
estates -8.6 -9.1 -9.5 -9.9
19 Life insurance companies 36.8 30.7 57.2 54.1
20 Other insurance companies -14.4 -9.4 -14.0 -13.6
21 Private pension funds 32.0 54.0 46.1 .2
22 State and local
government retirement
funds 40.0 58.2 55.3 17.1
23 Money market mutual funds 224.8 354.5 208.8 -156.2
24 Mutual funds -13.0 -12.7 -80.8 55.0
25 Closed-end funds 3.1 3.1 3.1 3.1
26 Government-sponsored
enterprises 280.7 221.0 138.2 215.1
27 Federally related
mortgage pools 244.5 182.4 144.3 121.6
28 Asset-backed securities
issuers (ABSs) 212.0 94.4 145.3 158.7
29 Finance companies 91.7 114.4 132.9 145.5
30 Mortgage companies -12.1 12.3 -6.0 5.5
31 Real estate investment
trusts (REITs) -2.7 -7.0 -16.3 -2.5
32 Brokers and dealers -22.2 -15.9 106.9 33.8
33 Funding corporations -1.1 403.8 -36.3 147.5
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,312.3 2,176.5 1,682.6 1,826.7
Other financial sources
35 Official foreign exchange -8.5 -7.0 1.5 -8.8
36 Special drawing rights
certificates -4.0 -4.0 .0 -8.0
37 Treasury currency 2.0 -4.1 2.2 -2.3
38 Foreign deposits 69.4 52.7 258.5 -1.1
39 Net interbank transactions -33.5 -43.3 -75.8 202.0
40 Checkable deposits and
currency 139.3 365.2 -219.1 -61.1
41 Small time and savings
deposits 119.1 28.0 109.1 132.2
42 Large time deposits 102.7 359.4 149.2 108.5
43 Money market fund shares 174.3 485.5 241.0 48.2
44 Security repurchase
agreements 135.9 319.0 276.1 134.8
45 Corporate equities -7.0 .0 105.2 -123.0
46 Mutual fund shares 127.5 172.8 309.0 248.4
47 Trade payables 216.9 137.0 213.7 213.2
48 Security credit 18.9 277.8 566.3 -138.6
49 Life insurance reserves 48.1 57.6 38.0 44.3
50 Pension fund reserves 266.7 294.6 258.0 240.8
51 Taxes payable -1.1 22.5 24.8 24.7
52 Investment in bank
personal trusts -34.3 -32.3 -40.4 -41.0
53 Noncorporate proprietors'
equity -71.2 -2.2 -27.4 -28.7
54 Miscellaneous 499.2 502.2 1,024.6 879.9
55 Total financial sources 4,072.6 5,157.9 4,897.2 3,691.2
Liabilities not identified
as assets (-)
56 Treasury currency .2 -6.3 -1.8 -6.2
57 Foreign deposits 26.4 93.9 179.0 -67.2
58 Net interbank liabilities -7.0 -23.7 24.4 -4.1
59 Security repurchase
agreements 77.8 -217.3 550.0 -11.5
60 Taxes payable 1.5 -.7 10.0 -.3
61 Miscellaneous -466.9 -71.3 -340.3 -250.2
Floats not included
in assets (-)
62 Federal government
checkable deposits 8.6 -9.2 28.7 -2.6
63 Other checkable deposits -.3 .0 .6 1.5
64 Trade credit 60.4 111.4 2.7 10.8
65 Total identified to
sectors as assets 4,371.9 5,281.1 4,443.9 4,021.1
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables F.1 and F.5. For
ordering address, see inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING(1)
Billions of dollars, end of period
Transaction category 1995 1996 1997
or sector
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 13,712.9 14,444.2 15,247.0
By sector and instrument
2 Federal government 3,636.7 3,781.8 3,804.9
3 Treasury securities 3,608.5 3,755.1 3,778.3
4 Budget agency
securities and
mortgages 28.2 26.6 26.5
5 Nonfederal 10,076.1 10,662.5 11,442.1
By instrument
6 Commercial paper 157.4 156.4 168.6
7 Municipal securities
and loans 1,293.5 1,296.0 1,367.5
8 Corporate bonds 1,344.1 1,460.4 1,610.9
9 Bank loans n.e.c. 863.6 934.1 1,040.5
10 Other loans and
advances 736.9 770.4 839.5
11 Mortgages 4,557.9 4,833.6 5,151.1
12 Home 3,510.5 3,719.2 3,971.5
13 Multifamily
residential 265.5 278.6 286.9
14 Commercial 697.3 748.7 802.3
15 Farm 84.6 87.1 90.3
16 Consumer credit 1,122.8 1,211.6 1,264.1
By borrowing sector
17 Household 4,782.9 5,105.3 5,442.8
18 Nonfinancial business 4,223.0 4,493.7 4,879.9
19 Corporate 2,925.5 3,107.7 3,372.7
20 Nonfarm noncorporate 1,152.4 1,236.1 1,351.1
21 Farm 145.1 149.9 156.1
22 State and local
government 1,070.2 1,063.4 1,119.5
23 Foreign credit market
debt held in
United States 453.7 542.2 608.0
24 Commercial paper 56.2 67.5 65.1
25 Bonds 299.4 366.3 427.7
26 Bank loans n.e.c. 34.6 43.7 52.1
27 Other loans and advances 63.6 64.7 63.0
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 14,166.5 14,986.4 15,855.0
Financial sectors
29 Total credit market debt
owed by financial
sectors 4,278.8 4,824.6 5,445.2
By instrument
30 Federal
government-related 2,376.8 2,608.3 2,821.1
31 Government-sponsored
enterprise
securities 806.5 896.9 995.3
32 Mortgage pool
securities 1,570.3 1,711.4 1,825.8
33 Loans from U.S.
government .0 .0 .0
34 Private 1,901.9 2,216.3 2,624.1
35 Open market paper 486.9 579.1 745.7
36 Corporate bonds 1,204.7 1,378.4 1,555.9
37 Bank loans n.e.c. 51.4 64.0 77.2
38 Other loans and
advances 135.0 162.9 198.5
39 Mortgages 24.1 31.9 46.8
By borrowing sector
40 Commercial banks 102.6 113.6 140.6
41 Bank holding companies 148.0 150.0 168.6
42 Savings institutions 115.0 140.5 160.3
43 Credit unions .4 .4 .6
44 Life insurance companies .5 1.6 1.8
45 Government-sponsored
enterprises 806.5 896.9 995.3
46 Federally related
mortgage pools 1,570.3 1,711.4 1,825.8
47 Issuers of asset-backed
securities (ABSs) 712.5 863.3 1,076.6
48 Brokers and dealers 29.3 27.3 35.3
49 Finance companies 483.9 529.8 554.5
50 Mortgage companies 16.5 20.6 16.0
51 Real estate investment
trusts (REITs) 44.6 56.5 96.1
52 Funding corporations 248.6 312.7 373.7
All sectors
53 Total credit market
debt, domestic and
foreign 18,445.3 19,811.0 21,300.2
54 Open market paper 700.4 803.0 979.4
55 U.S. government
securities 6,013.6 6,390.0 6,626.0
56 Municipal securities 1,293.5 1,296.0 1,367.5
57 Corporate and foreign
bonds 2,848.1 3,205.1 3,594.5
58 Bank loans n.e.c. 949.6 1,041.7 1,169.8
59 Other loans and advances 935.4 998.0 1,101.0
60 Mortgages 4,581.9 4,865.5 5,197.9
61 Consumer credit 1,122.8 1,211.6 1,264.1
1998 1999
Transaction category 1998
or sector
Q4 Q1
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 16,289.9 16,289.9 16,605.6
By sector and instrument
2 Federal government 3,752.2 3,752.2 3,759.7
3 Treasury securities 3,723.7 3,723.7 3,731.6
4 Budget agency
securities and
mortgages 28.5 28.5 28.1
5 Nonfederal 12,537.7 12,537.7 12,845.9
By instrument
6 Commercial paper 193.0 193.0 223.9
7 Municipal securities
and loans 1,464.3 1,464.3 1,491.0
8 Corporate bonds 1,829.6 1,829.6 1,898.1
9 Bank loans n.e.c. 1,148.8 1,148.8 1,165.2
10 Other loans and
advances 913.8 913.8 957.4
11 Mortgages 5,656.6 5,656.6 5,791.1
12 Home 4,358.4 4,358.4 4,451.2
13 Multifamily
residential 307.3 307.3 316.4
14 Commercial 894.4 894.4 926.1
15 Farm 96.5 96.5 97.4
16 Consumer credit 1,331.7 1,331.7 1,319.3
By borrowing sector
17 Household 5,924.6 5,924.6 6,004.8
18 Nonfinancial business 5,413.3 5,413.3 5,617.9
19 Corporate 3,788.5 3,788.5 3,970.3
20 Nonfarm noncorporate 1,460.9 1,460.9 1,485.2
21 Farm 163.8 163.8 162.4
22 State and local
government 1,199.8 1,199.8 1,223.2
23 Foreign credit market
debt held in
United States 651.4 651.4 659.2
24 Commercial paper 72.9 72.9 77.2
25 Bonds 462.5 462.5 466.3
26 Bank loans n.e.c. 58.9 58.9 59.1
27 Other loans and advances 57.2 57.2 56.5
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 16,941.3 16,941.2 17,264.7
Financial sectors
29 Total credit market debt
owed by financial
sectors 6,519.1 6,519.1 6,809.0
By instrument
30 Federal
government-related 3,292.0 3,292.0 3,434.1
31 Government-sponsored
enterprise
securities 1,273.6 1,273.6 1,321.8
32 Mortgage pool
securities 2,018.4 2,018.4 2,112.3
33 Loans from U.S.
government .0 .0 .0
34 Private 3,227.1 3,227.1 3,374.9
35 Open market paper 906.7 906.7 926.4
36 Corporate bonds 1,852.8 1,852.8 1,968.6
37 Bank loans n.e.c. 107.2 107.2 104.1
38 Other loans and
advances 288.7 288.7 299.1
39 Mortgages 71.6 71.6 76.6
By borrowing sector
40 Commercial banks 188.6 188.6 187.5
41 Bank holding companies 193.5 193.5 202.6
42 Savings institutions 212.4 212.4 226.9
43 Credit unions 1.1 1.1 1.5
44 Life insurance companies 2.5 2.5 3.3
45 Government-sponsored
enterprises 1,273.6 1,273.6 1,321.8
46 Federally related
mortgage pools 2,018.4 2,018.4 2,112.3
47 Issuers of asset-backed
securities (ABSs) 1,398.0 1,398.0 1,463.1
48 Brokers and dealers 42.5 42.5 34.8
49 Finance companies 597.5 597.5 614.4
50 Mortgage companies 17.7 17.7 16.5
51 Real estate investment
trusts (REITs) 158.8 158.8 165.2
52 Funding corporations 414.4 414.4 459.1
All sectors
53 Total credit market
debt, domestic and
foreign 23,460.4 23,460.4 24,073.7
54 Open market paper 1,172.6 1,172.6 1,227.6
55 U.S. government
securities 7,044.3 7,044.3 7,193.8
56 Municipal securities 1,464.3 1,464.3 1,491.0
57 Corporate and foreign
bonds 4,144.9 4,144.9 4,333.0
58 Bank loans n.e.c. 1,314.9 1,314.9 1,328.3
59 Other loans and advances 1,259.6 1,259.6 1,313.0
60 Mortgages 5,728.2 5,728.2 5,867.7
61 Consumer credit 1,331.7 1,331.7 1,319.3
1999
Transaction category
or sector
Q2 Q3 Q4
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 16,785.1 17,105.5 17,445.6
By sector and instrument
2 Federal government 3,651.7 3,632.7 3,681.0
3 Treasury securities 3,623.4 3,604.5 3,652.8
4 Budget agency
securities and
mortgages 28.3 28.3 28.3
5 Nonfederal 13,133.4 13,472.8 13,764.5
By instrument
6 Commercial paper 232.4 239.3 230.3
7 Municipal securities
and loans 1,510.0 1,518.6 1,532.5
8 Corporate bonds 1,970.0 2,020.7 2,059.5
9 Bank loans n.e.c. 1,178.5 1,202.9 1,231.5
10 Other loans and
advances 956.0 969.8 985.3
11 Mortgages 5,946.2 6,151.4 6,299.4
12 Home 4,564.4 4,694.1 4,791.3
13 Multifamily
residential 324.6 335.7 347.7
14 Commercial 957.5 1,020.3 1,058.4
15 Farm 99.6 101.4 102.0
16 Consumer credit 1,340.4 1,370.1 1,426.2
By borrowing sector
17 Household 6,147.2 6,313.3 6,469.1
18 Nonfinancial business 5,748.0 5,917.1 6,043.3
19 Corporate 4,071.6 4,207.6 4,302.2
20 Nonfarm noncorporate 1,510.2 1,540.9 1,572.0
21 Farm 166.1 168.6 169.0
22 State and local
government 1,238.2 1,242.4 1,252.1
23 Foreign credit market
debt held in
United States 652.7 672.9 676.9
24 Commercial paper 70.1 81.8 89.2
25 Bonds 466.4 477.4 476.7
26 Bank loans n.e.c. 60.5 58.8 59.4
27 Other loans and advances 55.8 55.0 51.7
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 17,437.8 17,778.5 18,122.5
Financial sectors
29 Total credit market debt
owed by financial
sectors 7,073.3 7,346.8 7,607.0
By instrument
30 Federal
government-related 3,580.7 3,745.9 3,884.0
31 Government-sponsored
enterprise
securities 1,398.0 1,499.8 1,591.7
32 Mortgage pool
securities 2,182.7 2,246.1 2,292.3
33 Loans from U.S.
government .0 .0 .0
34 Private 3,492.6 3,60.1 3,723.0
35 Open market paper 940.9 963.4 1,082.9
36 Corporate bonds 2,042.8 2,091.1 2,074.6
37 Bank loans n.e.c. 106.8 105.2 92.9
38 Other loans and
advances 328.6 365.4 395.8
39 Mortgages 73.6 75.9 76.7
By borrowing sector
40 Commercial banks 202.7 224.2 230.0
41 Bank holding companies 205.5 211.8 219.3
42 Savings institutions 241.6 255.4 260.4
43 Credit unions 1.8 2.5 3.4
44 Life insurance companies 4.0 4.3 3.2
45 Government-sponsored
enterprises 1,398.0 1,499.8 1,591.7
46 Federally related
mortgage pools 2,182.7 2,246.1 2,292.3
47 Issuers of asset-backed
securities (ABSs) 1,539.9 1,599.1 1,632.0
48 Brokers and dealers 30.4 34.6 25.3
49 Finance companies 639.2 628.5 659.9
50 Mortgage companies 17.8 16.3 17.8
51 Real estate investment
trusts (REITs) 160.3 162.2 165.1
52 Funding corporations 449.5 462.0 506.6
All sectors
53 Total credit market
debt, domestic and
foreign 24,511.1 25,125.3 25,729.5
54 Open market paper 1,243.3 1,284.5 1,402.4
55 U.S. government
securities 7,232.4 7,378.6 7,565.0
56 Municipal securities 1,510.0 1,518.6 1,532.5
57 Corporate and foreign
bonds 4,479.2 4,589.1 4,610.8
58 Bank loans n.e.c. 1,345.7 1,366.9 1,383.8
59 Other loans and advances 1,340.3 1,390.1 1,432.7
60 Mortgages 6,019.8 6,227.3 6,376.1
61 Consumer credit 1,340.4 1,370.1 1,426.2
2000
Transaction category
or sector
Q1 Q2
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 17,680.1 17,865.1
By sector and instrument
2 Federal government 3,653.5 3,464.0
3 Treasury securities 3,625.8 3,435.7
4 Budget agency
securities and
mortgages 27.8 28.2
5 Nonfederal 14,026.6 14,401.2
By instrument
6 Commercial paper 260.8 296.8
7 Municipal securities
and loans 1,539.2 1,551.6
8 Corporate bonds 2,106.0 2,144.5
9 Bank loans n.e.c. 1,259.1 1,306.4
10 Other loans and
advances 1,032.4 1,066.2
11 Mortgages 6,412.8 6,582.1
12 Home 4,867.7 4,995.2
13 Multifamily
residential 355.5 364.7
14 Commercial 1,085.8 1,115.5
15 Farm 103.7 106.7
16 Consumer credit 1,416.2 1,453.6
By borrowing sector
17 Household 6,541.9 6,710.9
18 Nonfinancial business 6,227.4 6,423.6
19 Corporate 4,457.6 4,617.5
20 Nonfarm noncorporate 1,599.7 1,629.9
21 Farm 170.1 176.1
22 State and local
government 1,257.3 1,266.7
23 Foreign credit market
debt held in
United States 704.6 698.9
24 Commercial paper 101.6 101.2
25 Bonds 488.1 480.7
26 Bank loans n.e.c. 63.3 64.8
27 Other loans and advances 51.7 52.1
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 18,384.7 18,564.0
Financial sectors
29 Total credit market debt
owed by financial
sectors 7,744.5 7,970.9
By instrument
30 Federal
government-related 3,940.3 4,032.0
31 Government-sponsored
enterprise
securities 1,618.0 1,676.7
32 Mortgage pool
securities 2,322.3 2,355.4
33 Loans from U.S.
government .0 .0
34 Private 3,804.2 3,938.9
35 Open market paper 1,115.7 1,135.2
36 Corporate bonds 2,114.2 2,192.5
37 Bank loans n.e.c. 91.4 93.6
38 Other loans and
advances 404.4 436.7
39 Mortgages 78.5 81.0
By borrowing sector
40 Commercial banks 242.2 265.9
41 Bank holding companies 221.4 229.3
42 Savings institutions 266.9 280.0
43 Credit unions 2.6 2.9
44 Life insurance companies 3.0 2.7
45 Government-sponsored
enterprises 1,618.0 1,676.7
46 Federally related
mortgage pools 2,322.3 2,355.4
47 Issuers of asset-backed
securities (ABSs) 1,665.8 1,716.0
48 Brokers and dealers 36.4 36.2
49 Finance companies 670.7 712.7
50 Mortgage companies 17.1 17.8
51 Real estate investment
trusts (REITs) 167.9 170.4
52 Funding corporations 510.1 505.1
All sectors
53 Total credit market
debt, domestic and
foreign 26,129.2 26,534.9
54 Open market paper 1,478.1 1,533.3
55 U.S. government
securities 7,593.8 7,496.0
56 Municipal securities 1,539.2 1,551.6
57 Corporate and foreign
bonds 4,708.3 4,817.7
58 Bank loans n.e.c. 1,413.7 1,464.7
59 Other loans and advances 1,488.5 1,555.0
60 Mortgages 6,491.3 6,663.1
61 Consumer credit 1,416.2 1,453.6
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables L.2 through L.4. For
ordering address, see inside front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES(1)
Billions of dollars except as noted, end of period
Transaction category 1995 1996 1997
or sector
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market assets 18,445.3 19,811.0 21,300.2
2 Domestic nonfederal nonfinancial
sectors 2,905.5 3,031.3 3,004.7
3 Household 1,944.3 2,118.3 2,106.4
4 Nonfinancial corporate
business 280.4 270.2 257.5
5 Nonfarm noncorporate business 42.3 38.0 35.9
6 State and local governments 638.6 604.8 605.0
7 Federal government 207.5 200.2 205.5
8 Rest of the world 1,531.1 1,926.6 2,257.3
9 Financial sectors 13,801.1 14,652.9 15,832.7
10 Monetary authority 380.8 393.1 431.4
11 Commercial banking 3,520.1 3,707.7 4,031.9
12 U.S.-chartered banks 3,056.1 3,175.8 3,450.7
13 Foreign banking offices in
United States 412.6 475.8 516.1
14 Bank holding companies 18.0 22.0 27.4
15 Banks in U.S.-affiliated
areas 33.4 34.1 37.8
16 Savings institutions 913.3 933.2 928.5
17 Credit unions 263.0 288.5 305.3
18 Bank personal trusts and
estates 239.7 232.0 207.0
19 Life insurance companies 1,587.5 1,657.0 1,751.1
20 Other insurance companies 468.7 491.2 515.3
21 Private pension funds 633.1 627.3 646.8
22 State and local government
retirement funds 531.0 568.2 632.0
23 Money market mutual funds 545.5 634.3 721.9
24 Mutual funds 771.3 820.2 901.1
25 Closed-end funds 96.4 101.1 98.3
26 Government-sponsored
enterprises 750.0 807.9 902.2
27 Federally related mortgage
pools 1,570.3 1,711.4 1,825.8
28 Asset-backed securities
issuers (ABSs) 653.4 773.9 937.7
29 Finance companies 526.2 544.5 566.4
30 Mortgage companies 33.0 41.2 32.1
31 Real estate investment trusts
(REITs) 26.0 30.4 50.6
32 Brokers and dealers 183.4 167.7 182.6
33 Funding corporations 108.4 122.0 164.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 18,445.3 19,811.0 21,300.2
Other liabilities
35 Official foreign exchange 63.7 53.7 48.9
36 Special drawing rights
certificates 10.2 9.7 9.2
37 Treasury currency 18.2 18.3 18.3
38 Foreign deposits 418.8 521.7 619.7
39 Net interbank liabilities 290.7 240.8 219.4
40 Checkable deposits and currency 1,229.1 1,244.8 1,286.1
41 Small time and savings deposits 2,279.7 2,377.0 2,474.1
42 Large time deposits 476.9 590.9 713.4
43 Money market fund shares 741.3 886.7 1,042.5
44 Security repurchase agreements 660.0 701.5 822.4
45 Mutual fund shares 1,852.8 2,342.4 2,989.4
46 Security credit 305.7 358.1 469.1
47 Life insurance reserves 566.2 610.6 665.0
48 Pension fund reserves 5,812.7 6,548.4 7,817.1
49 Trade payables 1,698.0 1,812.1 1,943.3
50 Taxes payable 107.6 123.6 139.2
51 Investment in bank personal
trusts 803.0 871.7 942.5
52 Miscellaneous 5,838.0 6,231.3 6,571.9
53 Total liabilities 41,617.9 45,354.2 50,091.7
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 22.1 21.4 21.1
55 Corporate equities 8,495.7 10,255.8 13,201.3
56 Household equity in noncorporate
business 3,671.6 3,876.6 4,151.1
Liabilities not identified as
assets (-)
57 Treasury currency -5.8 -6.7 -7.3
58 Foreign deposits 360.2 437.0 538.3
59 Net interbank transactions -9.0 -10.6 -32.2
60 Security repurchase agreements 107.4 111.5 175.8
61 Taxes payable 62.4 76.7 92.3
62 Miscellaneous -1,167.5 -1,630.7 -1,996.0
Floats not included in
assets (-)
63 Federal government checkable
deposits 3.1 -1.6 -8.1
64 Other checkable deposits 34.2 30.1 26.2
65 Trade credit 196.8 174.6 135.5
66 Total identified to sectors as
assets 54,225.6 60,327.7 68,540.7
1998 1999
Transaction category 1998
or sector
Q4 Q1
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market assets 23,460.4 23,460.4 24,073.7
2 Domestic nonfederal nonfinancial
sectors 3,108.2 3,108.2 3,208.2
3 Household 2,061.4 2,061.4 2,133.5
4 Nonfinancial corporate
business 271.5 271.5 266.1
5 Nonfarm noncorporate business 35.9 35.9 36.6
6 State and local governments 739.4 739.4 772.1
7 Federal government 219.1 219.1 223.3
8 Rest of the world 2,539.8 2,539.8 2,608.3
9 Financial sectors 17,593.3 17,593.3 18,033.8
10 Monetary authority 452.5 452.5 466.0
11 Commercial banking 4,335.7 4,335.7 4,338.4
12 U.S.-chartered banks 3,761.2 3,761.2 3,782.9
13 Foreign banking offices in
United States 504.2 504.2 487.8
14 Bank holding companies 26.5 26.5 25.0
15 Banks in U.S.-affiliated
areas 43.8 43.8 42.7
16 Savings institutions 964.8 964.8 990.8
17 Credit unions 324.2 324.2 330.2
18 Bank personal trusts and
estates 194.1 194.1 192.2
19 Life insurance companies 1,828.0 1,828.0 1,853.5
20 Other insurance companies 535.7 535.7 530.8
21 Private pension funds 704.7 704.7 719.0
22 State and local government
retirement funds 703.6 703.6 722.6
23 Money market mutual funds 965.9 965.9 1,036.2
24 Mutual funds 1,025.9 1,025.9 1,050.8
25 Closed-end funds 102.8 102.8 103.6
26 Government-sponsored
enterprises 1,163.9 1,163.9 1,203.1
27 Federally related mortgage
pools 2,018.4 2,018.4 2,112.3
28 Asset-backed securities
issuers (ABSs) 1,219.4 1,219.4 1,280.1
29 Finance companies 618.4 618.4 639.9
30 Mortgage companies 35.3 35.3 33.0
31 Real estate investment trusts
(REITs) 45.5 45.5 45.9
32 Brokers and dealers 189.4 189.4 211.4
33 Funding corporations 165.2 165.2 174.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 23,460.4 23,460.4 24,073.7
Other liabilities
35 Official foreign exchange 60.1 60.1 53.6
36 Special drawing rights
certificates 9.2 9.2 8.2
37 Treasury currency 18.3 18.3 18.3
38 Foreign deposits 639.0 639.0 667.4
39 Net interbank liabilities 189.0 189.0 182.0
40 Checkable deposits and currency 1,333.4 1,333.4 1,310.5
41 Small time and savings deposits 2,626.5 2,626.5 2,637.6
42 Large time deposits 805.5 805.5 804.3
43 Money market fund shares 1,329.7 1,329.7 1,411.7
44 Security repurchase agreements 913.7 913.7 980.3
45 Mutual fund shares 3,610.5 3,610.5 3,758.1
46 Security credit 572.3 572.3 552.7
47 Life insurance reserves 718.3 718.3 735.9
48 Pension fund reserves 8,912.7 8,912.7 9,064.9
49 Trade payables 1,970.3 1,970.3 1,973.9
50 Taxes payable 151.0 151.0 158.2
51 Investment in bank personal
trusts 1,001.0 1,001.0 1,012.5
52 Miscellaneous 7,133.9 7,133.9 7,131.6
53 Total liabilities 55,454.8 55,454.8 56,535.3
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.6 21.6 20.7
55 Corporate equities 15,427.8 15,427.8 15,919.1
56 Household equity in noncorporate
business 4,400.8 4,400.8 4,460.5
Liabilities not identified as
assets (-)
57 Treasury currency -8.0 -8.0 -8.4
58 Foreign deposits 548.2 548.2 560.5
59 Net interbank transactions -27.0 -27.0 -11.3
60 Security repurchase agreements 237.2 237.2 296.7
61 Taxes payable 101.5 101.5 89.2
62 Miscellaneous -2,539.2 -2,539.2 -2,755.0
Floats not included in
assets (-)
63 Federal government checkable
deposits -3.9 -3.9 -7.2
64 Other checkable deposits 23.1 23.1 18.9
65 Trade credit 94.5 94.5 56.3
66 Total identified to sectors as
assets 76,878.6 76,878.6 78,696.0
1999
Transaction category
or sector
Q2 Q3 Q4
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market assets 24,511.1 25,125.3 25,729.5
2 Domestic nonfederal nonfinancial
sectors 3,277.3 3,343.4 3,474.9
3 Household 2,172.2 2,235.9 2,353.9
4 Nonfinancial corporate
business 273.3 288.4 300.7
5 Nonfarm noncorporate business 36.9 37.1 37.5
6 State and local governments 794.8 781.9 782.8
7 Federal government 225.0 260.7 258.0
8 Rest of the world 2,621.3 2,718.1 2,678.0
9 Financial sectors 18,387.5 18,803.0 19,318.6
10 Monetary authority 485.1 489.3 478.1
11 Commercial banking 4,383.4 4,488.3 4,643.9
12 U.S.-chartered banks 3,847.6 3,944.3 4,078.9
13 Foreign banking offices in
United States 465.7 475.3 484.1
14 Bank holding companies 25.1 22.0 32.7
15 Banks in U.S.-affiliated
areas 45.0 46.7 48.3
16 Savings institutions 1,011.4 1,030.8 1,033.4
17 Credit unions 341.0 348.5 351.7
18 Bank personal trusts and
estates 190.1 188.0 185.7
19 Life insurance companies 1,869.6 1,880.4 1,886.0
20 Other insurance companies 537.5 533.9 531.6
21 Private pension funds 740.7 748.7 762.2
22 State and local government
retirement funds 728.9 738.9 753.4
23 Money market mutual funds 1,001.8 1,049.7 1,147.8
24 Mutual funds 1,083.7 1,083.0 1,073.1
25 Closed-end funds 104.3 105.1 105.9
26 Government-sponsored
enterprises 1,268.4 1,340.2 1,399.5
27 Federally related mortgage
pools 2,182.7 2,246.1 2,292.3
28 Asset-backed securities
issuers (ABSs) 1,352.7 1,409.8 1,435.3
29 Finance companies 660.9 678.2 713.3
30 Mortgage companies 35.6 32.5 35.6
31 Real estate investment trusts
(REITs) 45.3 44.7 42.9
32 Brokers and dealers 162.9 167.0 158.6
33 Funding corporations 201.4 200.1 288.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 24,511.1 25,125.3 25,729.5
Other liabilities
35 Official foreign exchange 50.9 52.1 50.1
36 Special drawing rights
certificates 8.2 7.2 6.2
37 Treasury currency 18.8 19.3 18.3
38 Foreign deposits 694.9 712.3 725.8
39 Net interbank liabilities 207.1 198.9 203.2
40 Checkable deposits and currency 1,353.1 1,353.8 1,484.8
41 Small time and savings deposits 2,644.6 2,665.9 2,671.2
42 Large time deposits 809.0 837.5 936.1
43 Money market fund shares 1,393.5 1,444.9 1,578.8
44 Security repurchase agreements 970.8 999.3 1,085.4
45 Mutual fund shares 4,049.1 3,931.5 4,553.4
46 Security credit 589.3 593.2 665.9
47 Life insurance reserves 749.8 756.2 783.9
48 Pension fund reserves 9,479.5 9,150.5 9,999.4
49 Trade payables 2,038.1 2,098.4 2,152.6
50 Taxes payable 160.6 165.3 166.4
51 Investment in bank personal
trusts 1,059.8 998.3 1,116.6
52 Miscellaneous 7,310.8 7,318.7 7,638.2
53 Total liabilities 58,099.0 58,428.7 61,565.7
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 20.8 21.3 21.4
55 Corporate equities 17,060.4 16,214.9 19,576.3
56 Household equity in noncorporate
business 4,523.0 4,582.8 4,643.5
Liabilities not identified as
assets (-)
57 Treasury currency -8.2 -8.2 -9.7
58 Foreign deposits 584.5 591.1 614.9
59 Net interbank transactions -10.6 -13.2 -25.5
60 Security repurchase agreements 308.2 327.7 269.3
61 Taxes payable 110.3 94.2 94.5
62 Miscellaneous -2,824.4 -3,133.2 -3,008.0
Floats not included in
assets (-)
63 Federal government checkable
deposits -12.4 -10.2 -9.9
64 Other checkable deposits 22.1 14.5 22.3
65 Trade credit 30.8 44.7 141.7
66 Total identified to sectors as
assets 81,502.8 81,340.1 87,717.2
2000
Transaction category
or sector
Q1 Q2
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market assets 26,129.2 26,534.9
2 Domestic nonfederal nonfinancial
sectors 3,418.7 3,459.0
3 Household 2,304.6 2,319.1
4 Nonfinancial corporate
business 293.0 305.2
5 Nonfarm noncorporate business 38.1 38.8
6 State and local governments 782.9 795.8
7 Federal government 259.6 261.6
8 Rest of the world 2,765.9 2,809.7
9 Financial sectors 19,685.1 20,004.6
10 Monetary authority 501.9 505.1
11 Commercial banking 4,725.0 4,847.4
12 U.S.-chartered banks 4,171.3 4,295.4
13 Foreign banking offices in
United States 482.0 478.1
14 Bank holding companies 22.1 23.0
15 Banks in U.S.-affiliated
areas 49.6 51.0
16 Savings institutions 1,044.5 1,061.7
17 Credit unions 360.0 372.9
18 Bank personal trusts and
estates 183.3 180.8
19 Life insurance companies 1,901.5 1,913.9
20 Other insurance companies 528.0 524.6
21 Private pension funds 773.7 773.8
22 State and local government
retirement funds 767.2 771.5
23 Money market mutual funds 1,217.1 1,159.4
24 Mutual funds 1,053.0 1,070.9
25 Closed-end funds 106.7 107.4
26 Government-sponsored
enterprises 1,426.4 1,481.7
27 Federally related mortgage
pools 2,322.3 2,355.4
28 Asset-backed securities
issuers (ABSs) 1,463.9 1,505.4
29 Finance companies 747.0 782.2
30 Mortgage companies 34.1 35.5
31 Real estate investment trusts
(REITs) 38.8 38.2
32 Brokers and dealers 201.1 188.2
33 Funding corporations 289.6 328.5
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 26,129.2 26,534.9
Other liabilities
35 Official foreign exchange 49.4 46.5
36 Special drawing rights
certificates 6.2 4.2
37 Treasury currency 18.8 18.1
38 Foreign deposits 790.4 790.2
39 Net interbank liabilities 165.6 219.5
40 Checkable deposits and currency 1,392.9 1,410.7
41 Small time and savings deposits 2,729.2 2,740.5
42 Large time deposits 966.5 987.4
43 Money market fund shares 1,666.0 1,627.1
44 Security repurchase agreements 1,155.8 1,186.2
45 Mutual fund shares 4,864.5 4,740.7
46 Security credit 803.7 770.8
47 Life insurance reserves 796.9 802.8
48 Pension fund reserves 10,227.4 10,139.0
49 Trade payables 2,179.6 2,233.3
50 Taxes payable 180.3 178.0
51 Investment in bank personal
trusts 1,135.2 1,085.0
52 Miscellaneous 7,851.6 8,059.6
53 Total liabilities 63,109.3 63,574.5
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.4 21.5
55 Corporate equities 20,231.8 19,298.5
56 Household equity in noncorporate
business 4,695.1 4,764.9
Liabilities not identified as
assets (-)
57 Treasury currency -10.2 -11.9
58 Foreign deposits 659.7 642.9
59 Net interbank transactions -13.9 -11.5
60 Security repurchase agreements 413.4 408.8
61 Taxes payable 88.9 101.1
62 Miscellaneous -3,149.6 -3,169.7
Floats not included in
assets (-)
63 Federal government checkable
deposits -6.5 -5.2
64 Other checkable deposits 18.7 22.5
65 Trade credit 92.6 73.1
66 Total identified to sectors as
assets 89,964.3 89,609.3
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables L.1 and L.5. For
ordering address, see inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100,
except as noted
Measure 1997 1998 1999
1 Industrial production(1) 127.1 132.4 137.1
Market groupings
2 Products, total 119.6 123.7 126.5
3 Final, total 121.1 125.4 128.0
4 Consumer goods 115.1 116.2 116.9
5 Equipment 132.1 142.7 148.9
6 Intermediate 115.3 118.8 122.1
7 Materials 139.0 146.5 154.8
Industry groupings
8 Manufacturing 130.1 136.4 142.3
9 Capacity utilization,
manufacturing (percent)(2) 82.4 80.9 79.8
10 Construction contracts(3) 144.2 161.3 177.5(r)
11 Nonagricultural employment,
total(4) 120.3 123.4 126.2
12 Goods-producing, total 101.2 102.7 102.3
13 Manufacturing, total 98.3 98.8 97.0
14 Manufacturing, production
workers 99.6 99.8 97.8
15 Service-producing 126.5 130.0 133.8
16 Personal income, total 175.1 186.5 196.6
17 Wages and salary disbursements 171.3 184.6 196.9
18 Manufacturing 144.6 152.3 157.4
19 Disposable personal income(5) 172.5 182.7 191.9
20 Retail sales(5) 169.8 178.4 194.6
Prices(6)
21 Consumer (1982-84=100) 160.5 163.0 166.6
22 Producer finished goods
(1982=100) 131.8 130.7 133.0
2000
Measure
Jan. Feb. Mar.
1 Industrial production(1) 141.1 141.6 142.4
Market groupings
2 Products, total 129.7 130.1 130.3
3 Final, total 131.6 131.8 132.0
4 Consumer goods 118.8 118.7 118.0
5 Equipment 154.2 155.0 156.9
6 Intermediate 123.7 124.8 125.1
7 Materials 160.5 161.2 163.1
Industry groupings
8 Manufacturing 146.7 147.2 148.4
9 Capacity utilization,
manufacturing (percent)(2) 80.7 80.7 81.1
10 Construction contracts(3) 176.0 180.0(r) 194.0(r)
11 Nonagricultural employment,
total(4) 127.9 128.0 128.5
12 Goods-producing, total 104.1 103.9 104.3
13 Manufacturing, total 97.4 97.2 97.3
14 Manufacturing, production
workers 98.2 98.0 97.9
15 Service-producing 135.5 135.7 136.2
16 Personal income, total 203.3 204.4 206.0
17 Wages and salary disbursements 204.3 205.2 206.4
18 Manufacturing 161.1 161.6 162.0
19 Disposable personal income(5) 197.4 198.3 199.8
20 Retail sales(5) 205.5 208.3 209.3
Prices(6)
21 Consumer (1982-84=100) 168.8(r) 169.8(r) 171.2(r)
22 Producer finished goods
(1982=100) 134.7 136.0 136.8
2000
Measure
Apr. May June(r)
1 Industrial production(1) 143.5 144.7 145.3
Market groupings
2 Products, total 131.0 131.2 131.6
3 Final, total 132.8 133.1 134.0
4 Consumer goods 118.6 118.8 119.4
5 Equipment 158.1 158.8 160.1
6 Intermediate 125.3 125.1 124.3
7 Materials 165.0 168.1 169.1
Industry groupings
8 Manufacturing 149.3 150.3 151.0
9 Capacity utilization,
manufacturing (percent)(2) 81.3 81.5 81.6
10 Construction contracts(3) 186.0 178.0(r) 186.0
11 Nonagricultural employment,
total(4) 128.9 129.1 129.1
12 Goods-producing, total 104.3 104.1 104.2
13 Manufacturing, total 97.3 97.3 97.3
14 Manufacturing, production
workers 98.0 97.9 97.9
15 Service-producing 136.8 137.0 137.1
16 Personal income, total 207.2(r) 207.9(r) 208.9
17 Wages and salary disbursements 208.2(r) 208.4(r) 209.8
18 Manufacturing 163.6(r) 162.9(r) 164.3
19 Disposable personal income(5) 200.6(r) 201.3(r) 202.1
20 Retail sales(5) 208.3 208.5 209.3
Prices(6)
21 Consumer (1982-84=100) 171.3(r) 171.5(r) 172.4
22 Producer finished goods
(1982=100) 136.7 137.3(r) 138.4
2000
Measure
July(r) Aug. Sept.(p)
1 Industrial production(1) 145.0 145.6 146.0
Market groupings
2 Products, total 131.7 131.7 132.1
3 Final, total 134.3 134.5 135.0
4 Consumer goods 119.0 119.1 120.1
5 Equipment 161.7 162.2 161.8
6 Intermediate 123.7 122.9 123.4
7 Materials 168.0 169.9 169.9
Industry groupings
8 Manufacturing 151.0 151.3 151.8
9 Capacity utilization,
manufacturing (percent)(2) 81.3 81.3 81.2
10 Construction contracts(3) 184.0 181.0 181.0
11 Nonagricultural employment,
total(4) 129.1 129.0 129.2
12 Goods-producing, total 104.4 103.9 103.8
13 Manufacturing, total 97.6 97.0 96.7
14 Manufacturing, production
workers 98.4 97.5 97.1
15 Service-producing 137.0 137.0 137.3
16 Personal income, total 209.5 210.3 212.6
17 Wages and salary disbursements 210.9 211.4 212.6
18 Manufacturing 165.8 164.9 164.5
19 Disposable personal income(5) 202.6 203.1 205.3
20 Retail sales(5) 211.1 211.2 213.1
Prices(6)
21 Consumer (1982-84=100) 172.8 172.8 173.7
22 Producer finished goods
(1982=100) 138.3 138.1 139.2
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's
web site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in November 1999. The
recent annual revision is described in an article in the March 2000
issue of the Bulletin. For a description of the methods of
estimating industrial production and capacity utilization, see
"Industrial Production and Capacity Utilization: Historical Revision
and Recent Developments," Federal Reserve Bulletin, vol. 83 (February
1997), pp. 67-92, and the references cited therein. For details
about the construction of individual industrial production series,
see "Industrial Production: 1989 Developments and Historical
Revision," Federal Reserve Bulletin, vol. 76 (April 1990),
pp. 187-204.
(2.) Ratio of index of production to index of capacity. Based on
data from the Federal Reserve, U.S. Department of Commerce,
and other sources.
(3.) Index of dollar value of total construction contracts,
including residential, nonresidential, and heavy engineering,
from McGraw-Hill Information Systems Company, F.W. Dodge
Division.
(4.) Based on data from the U.S. Department of Labor, Employment
and Earnings. Series covers employees only, excluding personnel
in the armed forces.
(5.) Based on data from U.S. Department of Commerce, Survey
of Current Business.
(6.) Based on data not seasonally adjusted. Seasonally adjusted
data for changes in the price indexes can be obtained from the
U.S. Department of Labor, Bureau of Labor Statistics, Monthly
Labor Review.
NOTE. Basic data (not indexes) for series mentioned in notes 4
and 5, and indexes for series mentioned in notes 3 and 6, can
also be found in the Survey of Current Business.
2.11 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Thousands of persons; monthly data seasonally adjusted
Category 1997 1998 1999
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 136,297 137,673 139,368
Employment
2 Nonagricultural industries(3) 126,159 128,085 130,207
3 Agriculture 3,399 3,378 3,281
Unemployment
4 Number 6,739 6,210 5,880
5 Rate (percent of civilian
labor force) 4.9 4.5 4.2
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 122,690 125,826 128,616
7 Manufacturing 18,675 18,772 18,431
8 Mining 596 590 535
9 Contract construction 5,691 5,985 6,273
10 Transportation and public
utilities 6,408 6,600 6,792
11 Trade 28,614 29,127 29,792
12 Finance 7,109 7,407 7,632
13 Service 36,040 37,526 39,000
14 Government 19,557 19,819 20,161
2000
Category
Feb. Mar. Apr.
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 141,165 140,867 141,230
Employment
2 Nonagricultural industries(3) 131,954 131,801 132,351
3 Agriculture 3,408 3,359 3,355
Unemployment
4 Number 5,804 5,708 5,524
5 Rate (percent of civilian
labor force) 4.1 4.1 3.9
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 130,482 131,009 131,419
7 Manufacturing 18,473 18,476 18,492
8 Mining 533 536 539
9 Contract construction 6,618 6,726 6,694
10 Transportation and public
utilities 6,937 6,953 6,970
11 Trade 29,989 30,060 30,252
12 Finance 7,624 7,621 7,610
13 Service 39,914 40,090 40,195
14 Government 20,394 20,547 20,667
2000
Category
May June July(r)
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 140,489 140,762 140,399
Employment
2 Nonagricultural industries(3) 131,417 131,858 131,450
3 Agriculture 3,298 3,321 3,299
Unemployment
4 Number 5,774 5,583 5,650
5 Rate (percent of civilian
labor force) 4.1 4.0 4.0
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 131,590 131,647 131,607
7 Manufacturing 18,479 18,493 18,548
8 Mining 539 539 538
9 Contract construction 6,666 6,668 6,670
10 Transportation and public
utilities 6,962 6,985 7,010
11 Trade 30,112 30,171 30,246
12 Finance 7,600 7,588 7,586
13 Service 40,220 40,401 40,403
14 Government 21,012 20,802 20,606
2000
Category
Aug. Sept.(p)
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 140,742 140,639
Employment
2 Nonagricultural industries(3) 131,569 131,821
3 Agriculture 3,344 3,340
Unemployment
4 Number 5,829 5,477
5 Rate (percent of civilian
labor force) 4.1 3.9
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 131,516 131,768
7 Manufacturing 18,431 18,365
8 Mining 537 536
9 Contract construction 6,675 6,705
10 Transportation and public
utilities 6,941 7,046
11 Trade 30,250 30,254
12 Finance 7,606 7,622
13 Service 40,578 40,778
14 Government 20,498 20,462
(1.) Beginning January 1994, reflects redesign of current population
controls from the 1990 census.
(2.) Persons sixteen years of age and older, including Resident
Armed Forces. Monthly figures are based on sample data collected
during the calendar week that contains the twelfth day; annual data
are averages of monthly figures. By definition, seasonality does not
exist in population figures.
(3.) Includes self-employed, unpaid family, and domestic service
workers.
(4.) Includes all full- and part-time employees who worked during, or
received pay for, the pay period that includes the twelfth day of the
month; excludes proprietors, self-employed persons, household and
unpaid family workers, and members of the armed forces. Data are
adjusted to the March 1992 benchmark, and only seasonally adjusted
data are available at this time.
SOURCE. Based on data from U.S. Department of Labor, Employment
and Earnings.
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION(1)
Seasonally adjusted
1999 2000
Series
Q4 Q1 Q2(r) Q3
Output (1992=100)
1 Total industry 139.5 141.7 144.5 145.5
2 Manufacturing 144.9 147.4 150.2 151.4
3 Primary processing(3) 125.4 126.0 125.8 124.1
Advanced processing(4) 155.2 158.7 163.1 165.8
5 Durable goods 177.4 182.5 188.9 191.7
6 Lumber and products 120.6 121.3 119.1 114.9
7 Primary metals 130.9 132.4 133.1 129.4
8 Iron and steel 129.1 130.9 132.4 126.3
9 Nonferrous 133.3 134.3 134.0 133.0
10 Industrial machinery and
equipment 239.9 252.3 263.4 270.1
11 Electrical machinery 419.0 458.1 514.3 555.8
12 Motor vehicles and parts 154.7 155.2 158.0 149.4
13 Aerospace and
miscellaneous
transportation
equipment 89.9 88.0 87.2 88.0
14 Nondurable goods 113.4 113.7 113.3 113.1
15 Textile mill products 111.4 111.3 109.7 105.6
16 Paper and products 117.9 117.0 117.2 113.1
17 Chemicals and products 121.8 121.7 120.3 121.3
18 Plastics materials 132.3 134.0 131.3 124.2
19 Petroleum products 114.1 115.8 117.9 117.2
20 Mining 99.5 100.4 102.1 102.4
21 Utilities 113.2 113.6 117.5 117.3
22 Electric 116.5 115.5 120.4 120.1
1999 2000
Series
Q4 Q1 Q2 Q3
Capacity (percent of
1992 output)
1 Total industry 172.3 173.8 175.5 177.1
2 Manufacturing 180.6 182.4 184.4 186.3
3 Primary processing(3) 149.8 150.4 150.9 151.2
Advanced processing(4) 196.1 198.7 201.6 204.3
5 Durable goods 221.0 224.8 229.1 233.2
6 Lumber and products 148.4 149.0 149.1 149.0
7 Primary metals 150.1 150.7 151.5 152.2
8 Iron and steel 152.5 153.5 154.4 155.3
9 Nonferrous 147.2 147.5 148.0 148.6
10 Industrial machinery and
equipment 295.8 306.1 315.2 323.5
11 Electrical machinery 514.6 537.2 570.7 607.0
12 Motor vehicles and parts 185.0 185.7 186.7 187.7
13 Aerospace and
miscellaneous
transportation
equipment 125.8 125.2 124.5 123.9
14 Nondurable goods 140.3 140.5 140.6 140.6
15 Textile mill products 131.8 131.9 131.9 131.9
16 Paper and products 136.1 136.6 136.7 136.5
17 Chemicals and products 151.0 151.4 151.7 152.1
18 Plastics materials 139.6 140.8 141.9 143.0
19 Petroleum products 123.1 123.4 123.6 123.7
20 Mining 120.2 119.8 119.3 118.8
21 Utilities 128.2 128.6 129.0 129.4
22 Electric 126.1 126.6 127.1 127.7
1999 2000
Series
Q4 Q1 Q2(r) Q3
Capacity utilization
rate (percent)(2)
1 Total industry 81.0 81.5 82.3 82.2
2 Manufacturing 80.3 80.8 81.5 81.3
3 Primary processing(3) 83.7 83.8 83.4 82.1
Advanced processing(4) 79.1 79.9 80.9 81.2
5 Durable goods 80.3 81.2 82.5 82.2
6 Lumber and products 81.2 81.4 79.9 77.2
7 Primary metals 87.2 87.9 87.9 85.0
8 Iron and steel 84.6 85.3 85.7 81.3
9 Nonferrous 90.5 91.0 90.5 89.5
10 Industrial machinery and
equipment 81.1 82.4 83.6 83.5
11 Electrical machinery 81.4 85.3 90.1 91.6
12 Motor vehicles and parts 83.6 83.6 84.6 79.6
13 Aerospace and
miscellaneous
transportation
equipment 71.5 70.3 70.0 71.0
14 Nondurable goods 80.9 80.9 80.6 80.4
15 Textile mill products 84.5 84.4 83.2 80.0
16 Paper and products 86.6 85.6 85.8 82.9
17 Chemicals and products 80.7 80.4 79.3 79.7
18 Plastics materials 94.8 95.2 92.5 86.9
19 Petroleum products 92.7 93.9 95.4 94.8
20 Mining 82.8 83.8 85.5 86.1
21 Utilities 88.3 88.3 91.1 90.7
22 Electric 92.4 91.2 94.7 94.0
Previous
1973 1975 cycle(5)
Series
High Low High Low
Capacity utilization rate
(percent)(2)
1 Total industry 89.2 72.6 87.3 71.1
2 Manufacturing 88.5 70.5 86.9 69.0
3 Primary processing(3) 91.2 68.2 88.1 66.2
Advanced processing(4) 87.2 71.8 86.7 70.4
5 Durable goods 89.2 68.9 87.7 63.9
6 Lumber and products 88.7 61.2 87.9 60.8
7 Primary metals 100.2 65.9 94.2 45.1
8 Iron and steel 105.8 66.6 95.8 37.0
9 Nonferrous 90.8 59.8 91.1 60.1
10 Industrial machinery and
equipment 96.0 74.3 93.2 64.0
11 Electrical machinery 89.2 64.7 89.4 71.6
12 Motor vehicles and parts 93.4 51.3 95.0 45.5
13 Aerospace and
miscellaneous
transportation
equipment 78.4 67.6 81.9 66.6
14 Nondurable goods 87.8 71.7 87.5 76.4
15 Textile mill products 91.4 60.0 91.2 72.3
16 Paper and products 97.1 69.2 96.1 80.6
17 Chemicals and products 87.6 69.7 84.6 69.9
18 Plastics materials 102.0 50.6 90.9 63.4
19 Petroleum products 96.7 81.1 90.0 66.8
20 Mining 94.3 88.2 96.0 80.3
21 Utilities 96.2 82.9 89.1 75.9
22 Electric 99.0 82.7 88.2 78.9
Latest
cycle(6) 1999 2000
Series
High Low Sept. Apr. May
Capacity utilization rate
(percent)(2)
1 Total industry 85.4 78.1 80.6 82.0 82.4
2 Manufacturing 85.7 76.6 79.7 81.3 81.5
3 Primary processing(3) 88.9 77.7 82.8 83.8 83.3
Advanced processing(4) 84.2 76.1 78.7 80.5 81.0
5 Durable goods 84.6 73.1 80.0 82.1 82.6
6 Lumber and products 93.6 75.5 81.0 81.0 80.1
7 Primary metals 92.7 73.7 85.8 88.5 87.8
8 Iron and steel 95.2 71.8 83.0 86.1 85.5
9 Nonferrous 89.3 74.2 89.3 91.5 90.7
10 Industrial machinery and
equipment 85.4 72.3 81.6 83.4 83.6
11 Electrical machinery 84.0 75.0 79.8 88.7 90.5
12 Motor vehicles and parts 89.1 55.9 84.1 83.9 85.4
13 Aerospace and
miscellaneous
transportation
equipment 87.3 79.2 73.1 69.8 69.2
14 Nondurable goods 87.3 80.7 79.9 80.8 80.5
15 Textile mill products 90.4 77.7 84.1 84.4 82.4
16 Paper and products 93.5 85.0 86.4 86.2 84.5
17 Chemicals and products 86.2 79.3 77.8 79.3 79.3
18 Plastics materials 97.0 74.8 90.5 93.4 92.3
19 Petroleum products 88.5 85.1 93.3 94.8 95.8
20 Mining 88.0 87.0 81.8 84.7 85.7
21 Utilities 92.6 83.4 92.0 89.2 92.3
22 Electric 95.0 87.1 95.2 92.9 95.9
2000
Series
June(r) July(r) Aug. Sept.(p)
Capacity utilization rate
(percent)(2)
1 Total industry 82.5 82.1 82.2 82.2
2 Manufacturing 81.6 81.3 81.3 81.2
3 Primary processing(3) 83.2 82.4 81.9 81.9
Advanced processing(4) 81.1 81.1 81.2 81.2
5 Durable goods 82.7 82.2 82.3 82.1
6 Lumber and products 78.5 78.2 76.2 77.1
7 Primary metals 87.3 85.3 84.8 84.9
8 Iron and steel 85.5 81.0 81.7 81.4
9 Nonferrous 89.3 90.6 88.6 89.4
10 Industrial machinery and
equipment 83.7 83.5 83.5 83.4
11 Electrical machinery 91.2 92.2 91.2 91.4
12 Motor vehicles and parts 84.7 77.0 81.9 79.8
13 Aerospace and
miscellaneous
transportation
equipment 71.1 72.3 71.0 69.8
14 Nondurable goods 80.5 80.5 80.3 80.5
15 Textile mill products 82.7 81.3 78.9 79.9
16 Paper and products 86.7 83.1 82.6 82.9
17 Chemicals and products 79.2 79.0 79.9 80.3
18 Plastics materials 91.8 85.9 88.1 86.5
19 Petroleum products 95.6 94.5 95.0 94.8
20 Mining 86.3 86.3 86.4 85.7
21 Utilities 91.9 88.4 91.5 92.1
22 Electric 95.3 91.6 95.0 95.5
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in November 1999. The recent annual
revision is described in an article in the March 2000 issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Primary processing includes textiles; lumber; paper; industrial
chemicals; synthetic materials; fertilizer materials; petroleum
products; rubber and plastics; stone, clay, and glass; primary metals;
and fabricated metals.
(4.) Advanced processing includes foods; tobacco; apparel; furniture
and fixtures; printing and publishing; chemical products such as drugs
and toiletries; agricultural chemicals; leather and products;
machinery; transportation equipment; instruments; and miscellaneous
manufactures.
(5.) Monthly highs, 1978-80; monthly lows, 1982.
(6.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value(1)
Monthly data seasonally adjusted
1992
Group pro-
SIC(2) por- 1999
code tion avg.
MAJOR MARKETS
1 Total index 100.0 137.1
2 Products 60.5 126.5
3 Final products 46.3 128.0
4 Consumer goods, total 29.1 116.9
5 Durable consumer goods 6.1 152.6
6 Automotive products 2.6 144.7
7 Autos and trucks 1.7 151.8
8 Autos, consumer .9 102.6
9 Trucks, consumer .7 202.4
10 Auto parts and allied
goods .9 133.9
11 Other 3.5 158.6
12 Appliances,
televisions, and
air conditioners 1.0 324.3
13 Carpeting and furniture .8 121.7
14 Miscellaneous home
goods 1.6 114.7
15 Nondurable consumer goods 23.0 108.7
16 Foods and tobacco 10.3 107.3
17 Clothing 2.4 90.6
18 Chemical products 4.5 121.8
19 Paper products 2.9 102.3
20 Energy 2.9 114.0
21 Fuels .8 111.3
22 Residential utilities 2.1 115.0
23 Equipment 17.2 148.9
24 Business equipment 13.2 171.6
25 Information processing
and related 5.4 248.6
26 Computer and office
equipment 1.1 840.1
27 Industrial 4.0 135.3
28 Transit 2.5 126.9
29 Autos and trucks 1.2 131.4
30 Other 1.3 131.4
31 Defense and space equipment 3.3 74.4
32 Oil and gas well drilling .6 106.8
33 Manufactured homes .2 155.2
34 Intermediate products, total 14.2 122.1
35 Construction supplies 5.3 133.4
36 Business supplies 8.9 115.3
37 Materials 39.5 154.8
38 Durable goods materials 20.8 198.9
39 Durable consumer parts 4.0 150.7
40 Equipment parts 7.6 360.9
41 Other 9.2 131.3
42 Basic metal materials 3.1 121.8
43 Nondurable goods materials 8.9 114.6
44 Textile materials 1.1 101.0
45 Paper materials 1.8 117.0
46 Chemical materials 3.9 117.3
47 Other 2.1 113.5
48 Energy materials 9.7 101.7
49 Primary energy 6.3 99.2
50 Converted fuel materials 3.3 107.0
SPECIAL AGGREGATES
51 Total excluding autos and trucks 97.1 137.0
52 Total excluding motor vehicles
and parts 95.1 136.4
53 Total excluding computer and
office equipment 98.2 131.1
54 Consumer goods excluding autos
and trucks 27.4 115.0
55 Consumer goods excluding energy 26.2 117.3
56 Business equipment excluding
autos and trucks 12.0 176.2
57 Business equipment excluding
computer and office equipment 12.1 143.8
58 Materials excluding energy 29.8 172.0
MAJOR INDUSTRIES
59 Total index ... 100.0 137.1
60 Manufacturing ... 85.4 142.3
61 Primary processing ... 26.5 123.3
62 Advanced processing ... 58.9 151.8
63 Durable goods ... 45.0 172.8
64 Lumber and products 24 2.0 121.6
65 Furniture and fixtures 25 1.4 125.5
66 Stone, clay, and glass
products 32 2.1 130.5
67 Primary metals 33 3.1 126.6
68 Iron and steel 331,2 1.7 123.2
69 Raw steel 331PT .1 113.3
70 Nonferrous 333-6,9 1.4 130.9
71 Fabricated metal products 34 5.0 128.7
72 Industrial machinery and
equipment 35 8.0 230.1
73 Computer and office equipment 357 1.8 1,061.4
74 Electrical machinery 36 7.3 390.2
75 Transportation equipment 37 9.5 122.4
76 Motor vehicles and parts 371 4.9 151.0
77 Autos and light trucks 371PT 2.6 137.8
78 Aerospace and miscellaneous
transportation equipment 372-6,9 4.6 94.9
79 Instruments 38 5.4 116.5
80 Miscellaneous 39 1.3 124.7
81 Nondurable goods ... 40.4 111.8
82 Foods 20 9.4 110.1
83 Tobacco products 21 1.6 94.3
84 Textile mill products 22 1.8 110.9
85 Apparel products 23 2.2 90.7
86 Paper and products 26 3.6 116.2
87 Printing and publishing 27 6.7 104.4
88 Chemicals and products 28 9.9 117.5
89 Petroleum products 29 1.4 114.7
90 Rubber and plastic products 30 3.5 137.7
91 Leather and products 31 .3 69.8
92 Mining ... 6.9 98.0
93 Metal 10 .5 97.1
94 Coal 12 1.0 108.1
95 Oil and gas extraction 13 4.8 92.5
96 Stone and earth minerals 14 .6 124.4
97 Utilities ... 7.7 115.6
98 Electric 491,493PT 6.2 118.2
99 Gas 492,493PT 1.6 104.8
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts ... 80.5 141.7
101 Manufacturing excluding computer
and office equipment ... 83.6 135.3
102 Computers, communications
equipment, and semiconductors ... 5.9 794.1
103 Manufacturing excluding
computers and semiconductors ... 81.1 121.6
104 Manufacturing excluding
computers, communications
equipment, and semiconductors ... 79.5 119.3
Gross value (billions of
dollars, annual rates)
Major Markets
105 Products, total ... 2,001.9 2,726.1
106 Final ... 1,552.1 2,101.6
107 Consumer goods ... 1,049.6 1,294.9
108 Equipment ... 502.5 808.3
109 Intermediate ... 449.9 623.3
1999
Group
Sept. Oct. Nov.
Index (1992 = 100)
MAJOR MARKETS
1 Total index 138.1 139.1 139.4
2 Products 127.6 128.5 128.0
3 Final products 129.1 130.2 129.8
4 Consumer goods, total 117.1 118.2 117.6
5 Durable consumer goods 153.5 157.4 154.4
6 Automotive products 145.5 147.9 146.2
7 Autos and trucks 152.8 155.1 154.3
8 Autos, consumer 105.5 103.9 107.2
9 Trucks, consumer 201.9 207.8 203.6
10 Auto parts and allied
goods 134.4 136.7 133.8
11 Other 159.7 165.0 160.7
12 Appliances,
televisions, and
air conditioners 326.3 363.1 348.4
13 Carpeting and furniture 124.1 124.8 117.4
14 Miscellaneous home
goods 114.4 114.8 115.0
15 Nondurable consumer goods 108.7 109.3 109.1
16 Foods and tobacco 106.2 106.8 107.3
17 Clothing 89.9 89.4 90.6
18 Chemical products 120.9 123.1 126.0
19 Paper products 104.7 106.3 105.1
20 Energy 117.6 114.5 106.7
21 Fuels 112.0 112.4 110.1
22 Residential utilities 119.7 114.9 104.3
23 Equipment 150.2 151.2 151.4
24 Business equipment 173.7 174.8 175.0
25 Information processing
and related 261.3 265.6 266.7
26 Computer and office
equipment 926.9 950.5 970.0
27 Industrial 133.9 134.9 134.6
28 Transit 124.0 122.3 121.2
29 Autos and trucks 132.0 133.4 134.2
30 Other 126.4 125.1 127.5
31 Defense and space equipment 73.6 73.7 73.0
32 Oil and gas well drilling 111.3 115.7 121.3
33 Manufactured homes 144.4 142.6 139.3
34 Intermediate products, total 122.6 123.2 122.4
35 Construction supplies 134.1 135.4 134.3
36 Business supplies 115.8 115.9 115.2
37 Materials 155.7 156.8 158.8
38 Durable goods materials 202.3 203.4 206.7
39 Durable consumer parts 156.0 153.7 154.8
40 Equipment parts 371.4 377.5 386.8
41 Other 131.2 131.7 133.4
42 Basic metal materials 122.1 123.5 125.6
43 Nondurable goods materials 114.7 117.4 119.1
44 Textile materials 100.3 102.3 103.3
45 Paper materials 118.6 118.5 119.3
46 Chemical materials 117.7 122.0 125.1
47 Other 112.5 114.9 114.9
48 Energy materials 101.8 101.5 101.6
49 Primary energy 99.6 98.8 100.1
50 Converted fuel materials 106.1 106.5 104.1
SPECIAL AGGREGATES
51 Total excluding autos and trucks 138.0 138.9 139.3
52 Total excluding motor vehicles
and parts 137.2 138.3 138.7
53 Total excluding computer and
office equipment 131.5 132.4 132.7
54 Consumer goods excluding autos
and trucks 115.2 116.3 115.6
55 Consumer goods excluding energy 117.1 118.7 118.8
56 Business equipment excluding
autos and trucks 178.5 179.5 179.7
57 Business equipment excluding
computer and office equipment 143.6 144.0 143.7
58 Materials excluding energy 173.0 174.7 177.4
MAJOR INDUSTRIES
59 Total index 138.1 139.1 139.4
60 Manufacturing 142.9 144.2 145.0
61 Primary processing 123.6 124.8 125.6
62 Advanced processing 153.1 154.5 155.2
63 Durable goods 175.0 176.5 177.4
64 Lumber and products 119.7 120.5 119.8
65 Furniture and fixtures 127.9 127.0 125.2
66 Stone, clay, and glass
products 129.6 131.2 132.4
67 Primary metals 128.3 129.0 131.1
68 Iron and steel 125.9 124.9 130.7
69 Raw steel 112.4 121.8 124.0
70 Nonferrous 131.4 134.0 131.7
71 Fabricated metal products 128.4 128.8 129.7
72 Industrial machinery and
equipment 235.5 238.3 239.7
73 Computer and office equipment 1,167.5 1,196.6 1,222.8
74 Electrical machinery 402.1 412.6 418.1
75 Transportation equipment 123.1 122.3 121.8
76 Motor vehicles and parts 155.6 155.7 155.8
77 Autos and light trucks 139.4 140.7 141.0
78 Aerospace and miscellaneous
transportation equipment 92.2 90.6 89.5
79 Instruments 117.2 118.3 118.9
80 Miscellaneous 125.1 125.0 125.0
81 Nondurable goods 111.8 113.0 113.6
82 Foods 109.6 110.1 110.3
83 Tobacco products 90.9 91.9 93.1
84 Textile mill products 110.8 112.7 111.4
85 Apparel products 89.0 89.1 89.1
86 Paper and products 117.2 118.0 118.1
87 Printing and publishing 104.6 106.0 105.7
88 Chemicals and products 117.4 119.8 122.7
89 Petroleum products 114.6 114.5 112.8
90 Rubber and plastic products 139.3 138.9 139.3
91 Leather and products 69.5 68.2 67.7
92 Mining 98.3 99.2 99.7
93 Metal 91.4 94.2 94.5
94 Coal 109.4 108.8 110.0
95 Oil and gas extraction 93.0 94.0 94.5
96 Stone and earth minerals 125.5 126.3 125.0
97 Utilities 117.7 115.2 110.9
98 Electric 119.8 116.9 115.8
99 Gas 108.5 107.9 88.2
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 142.3 143.6 144.5
101 Manufacturing excluding computer
and office equipment 135.3 136.5 137.1
102 Computers, communications
equipment, and semiconductors 843.0 863.9 887.7
103 Manufacturing excluding
computers and semiconductors 121.7 122.6 122.9
104 Manufacturing excluding
computers, communications
equipment, and semiconductors 119.3 120.1 120.4
Gross value (billions of
dollars, annual rates)
Major Markets
105 Products, total 2,740.2 2,762.6 2,740.0
106 Final 2,112.5 2,132.5 2,115.8
107 Consumer goods 1,297.0 1,311.7 1,294.7
108 Equipment 817.5 822.5 823.4
109 Intermediate 626.4 628.9 623.0
1999 2000
Group
Dec. Jan. Feb.
Index (1992 = 100)
MAJOR MARKETS
1 Total index 140.1 141.1 141.6
2 Products 128.5 129.7 130.1
3 Final products 130.3 131.6 131.8
4 Consumer goods, total 118.1 118.8 118.7
5 Durable consumer goods 155.7 158.9 156.4
6 Automotive products 144.4 149.1 145.4
7 Autos and trucks 148.7 155.0 150.7
8 Autos, consumer 99.8 105.4 105.0
9 Trucks, consumer 199.0 206.3 198.3
10 Auto parts and allied
goods 137.1 139.6 136.9
11 Other 164.9 166.6 165.4
12 Appliances,
televisions, and
air conditioners 357.6 361.6 362.8
13 Carpeting and furniture 123.0 126.9 122.6
14 Miscellaneous home
goods 116.7 116.6 116.6
15 Nondurable consumer goods 109.5 109.7 110.0
16 Foods and tobacco 107.4 107.6 107.9
17 Clothing 89.1 89.3 89.6
18 Chemical products 126.5 125.8 125.1
19 Paper products 103.1 104.3 104.5
20 Energy 112.0 113.0 114.8
21 Fuels 111.7 108.4 111.5
22 Residential utilities 111.6 114.6 115.8
23 Equipment 151.8 154.2 155.0
24 Business equipment 175.5 179.4 180.6
25 Information processing
and related 270.1 277.9 281.2
26 Computer and office
equipment 985.6 1,015.3 1,059.5
27 Industrial 135.0 138.4 140.1
28 Transit 118.5 119.9 117.6
29 Autos and trucks 127.8 134.3 134.0
30 Other 128.1 126.8 128.6
31 Defense and space equipment 72.4 70.6 69.7
32 Oil and gas well drilling 124.3 125.5 129.9
33 Manufactured homes 138.3 135.4 129.6
34 Intermediate products, total 123.1 123.7 124.8
35 Construction supplies 134.9 136.4 137.5
36 Business supplies 116.0 116.1 117.2
37 Materials 159.7 160.5 161.2
38 Durable goods materials 208.8 211.7 213.1
39 Durable consumer parts 155.0 156.0 153.1
40 Equipment parts 394.9 404.9 418.0
41 Other 134.0 134.8 134.1
42 Basic metal materials 126.3 126.2 124.2
43 Nondurable goods materials 118.7 117.0 117.6
44 Textile materials 100.9 99.3 101.9
45 Paper materials 118.5 117.9 116.6
46 Chemical materials 124.2 122.1 124.5
47 Other 116.8 114.8 112.7
48 Energy materials 101.4 101.2 100.5
49 Primary energy 99.5 98.3 96.7
50 Converted fuel materials 104.8 106.8 108.2
SPECIAL AGGREGATES
51 Total excluding autos and trucks 140.2 141.0 141.6
52 Total excluding motor vehicles
and parts 139.5 140.4 141.1
53 Total excluding computer and
office equipment 133.2 134.1 134.4
54 Consumer goods excluding autos
and trucks 116.4 116.9 117.0
55 Consumer goods excluding energy 118.8 119.5 119.1
56 Business equipment excluding
autos and trucks 181.1 184.5 186.0
57 Business equipment excluding
computer and office equipment 143.8 146.8 146.9
58 Materials excluding energy 178.6 179.8 181.0
MAJOR INDUSTRIES
59 Total index 140.1 141.1 141.6
60 Manufacturing 145.6 146.7 147.2
61 Primary processing 125.9 126.0 125.9
62 Advanced processing 155.9 157.5 158.4
63 Durable goods 178.4 181.0 181.8
64 Lumber and products 121.4 122.1 121.2
65 Furniture and fixtures 128.6 126.9 126.8
66 Stone, clay, and glass
products 131.4 130.9 131.7
67 Primary metals
68 Iron and steel 132.8 132.8 130.9
69 Raw steel 131.7 130.8 129.1
70 Nonferrous 124.2 123.1 118.7
71 Fabricated metal products 134.1 135.2 133.2
72 Industrial machinery and 129.0 130.8 130.4
equipment
73 Computer and office equipment 241.8 247.7 252.6
74 Electrical machinery 244.6 1,284.5 1,342.2
75 Transportation equipment 426.4 443.5 455.6
76 Motor vehicles and parts 120.4 121.7 119.6
77 Autos and light trucks 152.7 156.6 153.4
78 Aerospace and miscellaneous 135.0 141.0 137.7
transportation equipment 89.7 88.6 87.5
79 Instruments 119.7 118.4 117.3
80 Miscellaneous 126.4 126.9 125.5
81 Nondurable goods 113.7 113.5 113.8
82 Foods 110.0 109.8 110.7
83 Tobacco products 94.7 96.7 94.5
84 Textile mill products 110.1 111.5 110.8
85 Apparel products 89.1 89.0 89.7
86 Paper and products 117.7 117.1 116.5
87 Printing and publishing 105.3 105.3 105.7
88 Chemicals and products 122.9 121.6 122.4
89 Petroleum products 114.9 113.2 115.6
90 Rubber and plastic products 141.4 142.2 141.2
91 Leather and products 65.4 68.1 66.2
92 Mining 99.5 99.7 100.0
93 Metal 95.2 95.5 94.1
94 Coal 109.5 106.3 101.9
95 Oil and gas extraction 94.6 95.7 96.2
96 Stone and earth minerals 122.4 120.8 127.5
97 Utilities 113.5 114.6 115.3
98 Electric 116.9 116.0 116.0
99 Gas 98.1 108.4 112.6
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 145.2 146.2 146.9
101 Manufacturing excluding computer
and office equipment 137.6 138.5 138.7
102 Computers, communications
equipment, and semiconductors 908.5 952.4 994.7
103 Manufacturing excluding
computers and semiconductors 123.1 123.6 123.4
104 Manufacturing excluding
computers, communications
equipment, and semiconductors 120.6 120.9 120.7
Gross value (billions of
dollars, annual rates)
Major Markets
105 Products, total 2,751.5 2,781.7 2,791.9
106 Final 2,122.4 2,147.5 2,152.5
107 Consumer goods 1,301.5 1,309.9 1,309.9
108 Equipment 822.9 840.3 845.6
109 Intermediate 627.9 633.0 638.1
2000
Group
Mar. Apr. May
Index (1992 = 100)
MAJOR MARKETS
1 Total index 142.4 143.5 144.7
2 Products 130.3 131.0 131.2
3 Final products 132.0 132.8 133.1
4 Consumer goods, total 118.0 118.6 118.8
5 Durable consumer goods 156.8 159.1 156.9
6 Automotive products 146.0 148.7 146.8
7 Autos and trucks 151.9 155.8 154.0
8 Autos, consumer 103.1 107.4 106.2
9 Trucks, consumer 202.3 206.2 203.8
10 Auto parts and allied
goods 136.6 137.6 135.7
11 Other 165.5 167.5 165.1
12 Appliances,
televisions, and
air conditioners 367.3 373.3 367.1
13 Carpeting and furniture 122.6 125.0 122.4
14 Miscellaneous home
goods 115.9 116.5 115.3
15 Nondurable consumer goods 109.1 109.4 110.0
16 Foods and tobacco 107.8 108.3 107.8
17 Clothing 89.2 89.5 89.3
18 Chemical products 125.8 124.2 124.6
19 Paper products 103.0 103.3 104.1
20 Energy 108.8 111.1 117.2
21 Fuels 114.8 112.3 113.3
22 Residential utilities 105.2 109.9 118.5
23 Equipment 156.9 158.1 158.8
24 Business equipment 183.0 185.0 185.7
25 Information processing
and related 285.7 290.3 295.7
26 Computer and office
equipment 1,093.5 1,126.1 1,162.3
27 Industrial 140.0 140.1 140.4
28 Transit 118.7 118.7 116.2
29 Autos and trucks 133.9 136.9 135.7
30 Other 136.4 140.9 137.7
31 Defense and space equipment 69.8 69.3 69.3
32 Oil and gas well drilling 130.6 129.0 135.0
33 Manufactured homes 129.3 123.4 118.2
34 Intermediate products, total 125.1 125.3 125.1
35 Construction supplies 139.0 139.2 137.4
36 Business supplies 116.9 117.1 117.7
37 Materials 163.1 165.0 168.1
38 Durable goods materials 217.5 220.6 227.0
39 Durable consumer parts 154.7 152.8 160.5
40 Equipment parts 435.4 453.2 472.6
41 Other 134.7 134.6 135.2
42 Basic metal materials 126.3 126.9 126.9
43 Nondurable goods materials 116.8 116.6 116.7
44 Textile materials 102.7 100.7 100.2
45 Paper materials 118.3 119.3 117.4
46 Chemical materials 121.5 121.5 122.8
47 Other 113.3 112.3 112.2
48 Energy materials 100.6 102.5 102.8
49 Primary energy 98.0 100.4 100.5
50 Converted fuel materials 105.5 106.6 107.1
SPECIAL AGGREGATES
51 Total excluding autos and trucks 142.4 143.5 144.7
52 Total excluding motor vehicles
and parts 141.8 143.0 144.0
53 Total excluding computer and
office equipment 135.0 136.0 137.0
54 Consumer goods excluding autos
and trucks 116.2 116.6 116.9
55 Consumer goods excluding energy 119.0 119.5 119.0
56 Business equipment excluding
autos and trucks 188.7 190.5 191.5
57 Business equipment excluding
computer and office equipment 148.4 149.4 149.2
58 Materials excluding energy 183.5 185.5 189.6
MAJOR INDUSTRIES
59 Total index 142.4 143.5 144.7
60 Manufacturing 148.4 149.3 150.3
61 Primary processing 126.1 126.3 125.6
62 Advanced processing 160.1 161.5 163.3
63 Durable goods 184.6 186.8 189.2
64 Lumber and products 120.5 120.8 119.4
65 Furniture and fixtures 126.3 126.4 128.1
66 Stone, clay, and glass
products 132.7 131.9 132.2
67 Primary metals 133.6 133.8 133.0
68 Iron and steel 132.9 132.7 132.1
69 Raw steel 121.1 124.1 123.9
70 Nonferrous 134.5 135.3 134.2
71 Fabricated metal products 130.6 131.0 131.4
72 Industrial machinery and
equipment 256.7 260.5 263.5
73 Computer and office equipment 1,389.6 1,428.4 1,467.7
74 Electrical machinery 475.2 494.8 516.3
75 Transportation equipment 120.9 120.7 121.7
76 Motor vehicles and parts 155.6 156.2 159.4
77 Autos and light trucks 138.1 142.1 140.5
78 Aerospace and miscellaneous
transportation equipment 88.0 87.0 86.1
79 Instruments 117.4 117.3 117.4
80 Miscellaneous 124.8 125.2 124.5
81 Nondurable goods 113.6 113.5 113.2
82 Foods 111.1 111.6 111.0
83 Tobacco products 91.4 92.7 92.4
84 Textile mill products 111.6 111.3 108.8
85 Apparel products 89.5 90.1 88.9
86 Paper and products 117.3 117.8 115.5
87 Printing and publishing 105.9 105.4 106.0
88 Chemicals and products 121.2 120.2 120.3
89 Petroleum products 118.7 117.1 118.4
90 Rubber and plastic products 140.5 141.6 140.4
91 Leather and products 64.6 63.7 64.9
92 Mining 101.3 101.2 102.3
93 Metal 92.7 93.4 96.3
94 Coal 109.3 112.0 110.1
95 Oil and gas extraction 96.0 95.9 98.0
96 Stone and earth minerals 133.0 128.8 124.5
97 Utilities 110.8 114.9 119.0
98 Electric 114.4 117.9 122.0
99 Gas 94.4 101.2 105.7
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 148.0 149.0 149.8
101 Manufacturing excluding computer
and office equipment 139.7 140.5 141.2
102 Computers, communications
equipment, and semiconductors 1,043.7 1,093.0 1,144.2
103 Manufacturing excluding
computers and semiconductors 123.8 123.9 124.1
104 Manufacturing excluding
computers, communications
equipment, and semiconductors 121.0 121.0 121.0
Gross value (billions of
dollars, annual rates)
Major Markets
105 Products, total 2,795.8 2,811.3 2,813.9
106 Final 2,155.2 2,168.6 2,172.3
107 Consumer goods 1,302.9 1,308.9 1,309.9
108 Equipment 856.0 863.5 866.4
109 Intermediate 639.3 641.5 640.3
2000
Group
June(r) July(r)
Index (1992 = 100)
MAJOR MARKETS
1 Total index 145.3 145.0
2 Products 131.6 131.7
3 Final products 134.0 134.3
4 Consumer goods, total 119.4 119.0
5 Durable consumer goods 158.4 153.5
6 Automotive products 149.3 139.6
7 Autos and trucks 157.2 139.5
8 Autos, consumer 105.5 100.3
9 Trucks, consumer 210.5 181.4
10 Auto parts and allied
goods 137.2 137.5
11 Other 165.6 165.5
12 Appliances,
televisions, and
air conditioners 375.6 356.0
13 Carpeting and furniture 122.7 127.5
14 Miscellaneous home
goods 114.3 115.0
15 Nondurable consumer goods 110.5 110.9
16 Foods and tobacco 107.9 108.7
17 Clothing 86,8 87.1
18 Chemical products 125.2 126.0
19 Paper products 106.9 107.7
20 Energy 118.8 116.0
21 Fuels 113.4 112.8
22 Residential utilities 120.8 116.9
23 Equipment 160.1 161.7
24 Business equipment 187.2 188.6
25 Information processing
and related 297.1 304.1
26 Computer and office
equipment 1,194.2 1,224.3
27 Industrial 139.8 140.9
28 Transit 118.0 115.0
29 Autos and trucks 133.8 122.2
30 Other 144.8 143.2
31 Defense and space equipment 70.5 72.0
32 Oil and gas well drilling 134.0 140.9
33 Manufactured homes 118.5 110.0
34 Intermediate products, total 124.3 123.7
35 Construction supplies 136.8 136.9
36 Business supplies 116.8 115.8
37 Materials 169.1 168.0
38 Durable goods materials 229.2 229.5
39 Durable consumer parts 155.1 149.4
40 Equipment parts 490.6 502.4
41 Other 135.0 134.6
42 Basic metal materials 126.3 124.2
43 Nondurable goods materials 116.6 114.3
44 Textile materials 101.7 96.1
45 Paper materials 119.2 114.7
46 Chemical materials 121.9 119.4
47 Other 111.6 112.7
48 Energy materials 102.6 100.8
49 Primary energy 100.7 99.9
50 Converted fuel materials 106.0 102.1
SPECIAL AGGREGATES
51 Total excluding autos and trucks 145.4 145.5
52 Total excluding motor vehicles
and parts 144.8 145.1
53 Total excluding computer and
office equipment 137.4 137.0
54 Consumer goods excluding autos
and trucks 117.4 117.8
55 Consumer goods excluding energy 119.5 119.3
56 Business equipment excluding
autos and trucks 193.4 196.6
57 Business equipment excluding
computer and office equipment 149.9 150.6
58 Materials excluding energy 191.0 190.3
MAJOR INDUSTRIES
59 Total index 145.3 145.0
60 Manufacturing 151.0 151.0
61 Primary processing 125.6 124.5
62 Advanced processing 164.4 165.0
63 Durable goods 190.8 190.7
64 Lumber and products 117.0 116.5
65 Furniture and fixtures 127.0 129.0
66 Stone, clay, and glass
products 132.3 132.6
67 Primary metals 132.4 129.6
68 Iron and steel 132.4 125.6
69 Raw steel 124.6 122.3
70 Nonferrous 132.4 134.5
71 Fabricated metal products 130.6 131.2
72 Industrial machinery and
equipment 266.2 268.0
73 Computer and office equipment 1,509.0 1,549.7
74 Electrical machinery 532.0 548.5
75 Transportation equipment 122.5 116.5
76 Motor vehicles and parts 158.4 144.3
77 Autos and light trucks 142.7 128.4
78 Aerospace and miscellaneous
transportation equipment 88.4 89.7
79 Instruments 117.9 119.0
80 Miscellaneous 124.0 125.6
81 Nondurable goods 113.2 113.3
82 Foods 111.1 112.0
83 Tobacco products 90.9 92.9
84 Textile mill products 109.1 107.2
85 Apparel products 86.8 87.5
86 Paper and products 118.5 113.5
87 Printing and publishing 105.3 106.3
88 Chemicals and products 120.3 120.0
89 Petroleum products 118.2 116.9
90 Rubber and plastic products 141.0 142.6
91 Leather and products 63.1 63.5
92 Mining 102.8 102.7
93 Metal 94.7 94.1
94 Coal 114.4 110.8
95 Oil and gas extraction 98.2 98.8
96 Stone and earth minerals 124.4 122.5
97 Utilities 118.7 114.3
98 Electric 121.3 116.8
99 Gas 107.2 102.9
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 150.6 151.5
101 Manufacturing excluding computer
and office equipment 141.8 141.6
102 Computers, communications
equipment, and semiconductors 1,182.2 1,228.6
103 Manufacturing excluding
computers and semiconductors 124.1 123.7
104 Manufacturing excluding
computers, communications
equipment, and semiconductors 121.1 120.5
Gross value (billions
of 1992 dollars,
annual rates)
Major Markets
105 Products, total 2,826.3 2,811.5
106 Final 2,189.1 2,178.9
107 Consumer goods 1,319.8 1,307.4
108 Equipment 873.4 876.3
109 Intermediate 636.1 631.6
2000
Group
Aug. Sept.(r)
Index (1992 = 100)
MAJOR MARKETS
1 Total index 145.6 146.0
2 Products 131.7 132.1
3 Final products 134.5 135.0
4 Consumer goods, total 119.1 120.1
5 Durable consumer goods 152.9 155.3
6 Automotive products 142.0 144.2
7 Autos and trucks 145.6 147.2
8 Autos, consumer 104.3 103.6
9 Trucks, consumer 189.6 193.3
10 Auto parts and allied
goods 135.5 138.3
11 Other 161.8 164.4
12 Appliances,
televisions, and
air conditioners 354.6 374.3
13 Carpeting and furniture 120.4 122.8
14 Miscellaneous home
goods 113.5 112.7
15 Nondurable consumer goods 111.2 111.8
16 Foods and tobacco 107.8 108.4
17 Clothing 85.8 84.9
18 Chemical products 128.2 130.0
19 Paper products 107.6 107.6
20 Energy 119.5 120.4
21 Fuels 114.8 114.5
22 Residential utilities 121.2 122.6
23 Equipment 162.2 161.8
24 Business equipment 189.7 190.3
25 Information processing
and related 308.1 311.6
26 Computer and office
equipment 1,255.9 1,288.8
27 Industrial 143.8 141.0
28 Transit 113.6 112.4
29 Autos and trucks 123.1 121.4
30 Other 135.7 144.9
31 Defense and space equipment 70.3 67.5
32 Oil and gas well drilling 143.8 137.5
33 Manufactured homes 108.5 107.0
34 Intermediate products, total 122.9 123.4
35 Construction supplies 135.5 135.9
36 Business supplies 115.4 115.9
37 Materials 169.9 169.9
38 Durable goods materials 232.4 232.6
39 Durable consumer parts 158.0 154.6
40 Equipment parts 508.9 518.5
41 Other 133.8 133.0
42 Basic metal materials 123.7 123.9
43 Nondurable goods materials 114.0 114.0
44 Textile materials 96.4 97.0
45 Paper materials 113.4 113.3
46 Chemical materials 120.7 120.2
47 Other 110.2 110.9
48 Energy materials 102.6 102.5
49 Primary energy 100.5 100.2
50 Converted fuel materials 106.6 106.8
SPECIAL AGGREGATES
51 Total excluding autos and trucks 146.0 146.3
52 Total excluding motor vehicles
and parts 145.3 145.8
53 Total excluding computer and
office equipment 137.4 137.7
54 Consumer goods excluding autos
and trucks 117.6 118.6
55 Consumer goods excluding energy 119.1 120.1
56 Business equipment excluding
autos and trucks 197.6 198.6
57 Business equipment excluding
computer and office equipment 150.9 150.8
58 Materials excluding energy 192.1 192.2
MAJOR INDUSTRIES
59 Total index 145.6 146.0
60 Manufacturing 151.3 151.8
61 Primary processing 123.8 123.9
62 Advanced processing 165.9 166.5
63 Durable goods 191.9 192.5
64 Lumber and products 113.5 114.8
65 Furniture and fixtures 127.9 128.2
66 Stone, clay, and glass
products 133.3 133.1
67 Primary metals 129.0 129.5
68 Iron and steel 126.8 126.6
69 Raw steel 119.6 119.6
70 Nonferrous 131.6 133.0
71 Fabricated metal products 130.7 130.7
72 Industrial machinery and
equipment 1,270.2 272.2
73 Computer and office equipment 591.6 1,634.2
74 Electrical machinery 553.1 565.7
75 Transportation equipment 120.0 117.4
76 Motor vehicles and parts 153.7 150.1
77 Autos and light trucks 133.9 134.9
78 Aerospace and miscellaneous
transportation equipment 88.0 86.3
79 Instruments 118.9 118.8
80 Miscellaneous 124.3 124.2
81 Nondurable goods 112.9 113.2
82 Foods 110.8 111.0
83 Tobacco products 93.4 95.2
84 Textile mill products 104.1 105.5
85 Apparel products 85.7 84.5
86 Paper and products 112.7 113.1
87 Printing and publishing 105.5 105.7
88 Chemicals and products 121.5 122.3
89 Petroleum products 117.5 117.3
90 Rubber and plastic products 141.2 140.3
91 Leather and products 63.1 62.4
92 Mining 102.7 101.7
93 Metal 93.8 94.4
94 Coal 109.8 107.5
95 Oil and gas extraction 99.0 98.0
96 Stone and earth minerals 122.6 121.9
97 Utilities 118.4 119.3
98 Electric 121.3 122.1
99 Gas 105.4 106.6
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 151.3 152.0
101 Manufacturing excluding computer
and office equipment 141.8 142.1
102 Computers, communications
equipment, and semiconductors 1,256.8 1,288.5
103 Manufacturing excluding
computers and semiconductors 123.7 123.7
104 Manufacturing excluding
computers, communications
equipment, and semiconductors 120.4 120.4
Gross value (billions
of 1992 dollars,
annual rates)
Major Markets
105 Products, total 2,814.2 2,826.3
106 Final 2,185.9 2,194.9
107 Consumer goods 1,310.8 1,321.3
108 Equipment 880.1 877.9
109 Intermediate 627.5 630.6
(1.) Data in this table appear in the Board's G. 17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in November 1999. The recent
annual revision is described in an article in the March 2000 issue
of the Bulletin. For a description of the methods of estimating
industrial production and capacity utilization, see "Industrial
Production and Capacity Utilization: Historical Revision and Recent
Developments," Federal Reserve Bulletin, vol. 83 (February 1997),
pp. 67-92, and the references cited therein. For details about the
construction of individual industrial production series, see
"Industrial Production: 1989 Developments and Historical Revision,"
Federal Reserve Bulletin, vol. 76 (April 1990), pp. 187-204.
(2.) Standard industrial classification.
2.14 HOUSING AND CONSTRUCTION
Monthly figures at seasonally adjusted annual rates except as noted
1999
Item 1997 1998 1999
Nov. Dec.
Private residential estate activity
(thousands of units except as noted)
NEW UNITS
1 Permits authorized 1,441 1,612 1,664 1,678 1,683
2 One-family 1,062 1,188 1,247 1,238 1,266
3 Two-family or
more 379 425 417 440 417
4 Started 1,474 1,617 1,667 1,663 1,769
5 One-family 1,134 1,271 1,335 1,344 1,441
6 Two-family or
more 340 346 332 319 328
7 Under construction
at end of
period(1) 847 971 993 1,022 1,025
8 One-family 555 659 679 708 710
9 Two-family or
more 292 312 314 314 315
10 Completed 1,400 1,474 1,636 1,653 1,675
11 One-family 1,116 1,160 1,307 1,345 1,340
12 Two-family or
more 284 315 329 308 335
13 Mobile homes
shipped 354 374 348 316 304
Merchant builder
activity in
one-family units
14 Number sold 804 886 907 895 916
15 Number for sale at
end of period(1) 287 300 326 317 320
Price of units
sold (thousands
of dollars)(2)
16 Median 146.0 152.5 160.0 172.9 165.0
17 Average 176.2 181.9 195.8 212.4 203.0
EXISTING UNITS
(one-family)
18 Number sold 4,382 4,970 5,197 5,150 5,140
Price of units
sold (thousands
of dollars)(2)
19 Median 121.8 128.4 133.3 133.2 133.7
20 Average 150.5 159.1 168.3 168.9 168.8
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 656,084 710,104 765,719 776,476 791,698
22 Private 501,426 550,983 592,037 596,942 605,802
23 Residential 289,101 314,058 348,584 353,854 358,223
24 Nonresidential 212,325 236,925 243,454 243,088 247,579
25 Industrial
buildings 36,696 40,464 35,016 32,244 33,262
26 Commercial
buildings 86,151 95,753 103,759 107,305 107,187
27 Other
buildings 37,193 39,607 41,279 42,095 43,392
28 Public
utilities
and other 52,287 61,101 63,400 61,444 63,738
29 Public 154,657 159,121 173,682 179,534 185,895
30 Military 2,561 2,538 2,122 1,944 2,332
31 Highway 43,886 48,339 54,447 56,547 60,218
32 Conservation and
development 5,708 5,421 6,002 6,585 7,001
33 Other 102,502 102,823 111,110 114,458 116,344
2000
Item
Jan. Feb. Mar. Apr.
Private residential estate
activity (thousands of
units except as noted)
NEW UNITS
1 Permits authorized 1,762 1,661 1,597 1,559
2 One-family 1,317 1,223 1,238 1,164
3 Two-family or
more 445 438 359 395
4 Started 1,744 1,822 1,630 1,652
5 One-family 1,361 1,324 1,327 1,310
6 Two-family or
more 383 498 303 342
7 Under construction
at end of
period(1) 1,033 1,041 1,031 1,029
8 One-family 712 712 706 703
9 Two-family or
more 321 329 325 326
10 Completed 1,599 1,732 1,728 1,660
11 One-family 1,296 1,382 1,375 1,354
12 Two-family or
more 303 350 353 306
13 Mobile homes
shipped 307 291 287 271
Merchant builder
activity in
one-family units
14 Number sold 927 905 947 865
15 Number for sale at
end of period(1) 321 309 321 305
Price of units
sold (thousands
of dollars)(2)
16 Median 163.0 162.3 165.7 163.1
17 Average 200.1 199.6 205.3 207.5
EXISTING UNITS
(one-family)
18 Number sold 4,450 4,760 5,200 4,880
Price of units
sold (thousands
of dollars)(2)
19 Median 132.2 133.7 134.7 136.1
20 Average 168.9 168.1 171.5 173.3
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 806,099 816,012 829,517 816,156(r)
22 Private 614,584 629,590 637,743 629,491(r)
23 Residential 365,149 368,745 372,118 368,948(r)
24 Nonresidential 249,435 260,845 265,625 260,543(r)
25 Industrial
buildings 33,947 38,538 39,030 38,670(r)
26 Commercial
buildings 107,961 115,440 116,030 115,042(r)
27 Other
buildings 43,350 45,553 45,808 44,136(r)
28 Public
utilities
and other 64,177 61,314 64,757 62,695(r)
29 Public 191,515 186,422 191,774 186,665(r)
30 Military 1,782 3,011 2,249 2,180(r)
31 Highway 63,368 53,145 59,007 55,923
32 Conservation and
development 6,223 6,975 6,494 5,840(r)
33 Other 120,142 123,291 124,024 122,722(r)
2000
Item
May June July(r) Aug.
Private residential estate
activity (thousands of
units except as noted)
NEW UNITS
1 Permits authorized 1,511 1,528 1,511 1,486
2 One-family 1,150 1,127 1,117 1,140
3 Two-family or
more 361 401 394 346
4 Started 1,591 1,571 1,527 1,525
5 One-family 1,258 1,227 1,201 1,249
6 Two-family or
more 333 344 326 276
7 Under construction
at end of
period(1) 1,023 1,024 1,021 1,014
8 One-family 697 696 691 690
9 Two-family or
more 326 328 330 324
10 Completed 1,705 1,545 1,539 1,619
11 One-family 1,377 1,222 1,224 1,274
12 Two-family or
more 328 323 315 345
13 Mobile homes
shipped 265 262 251 249
Merchant builder
activity in
one-family units
14 Number sold 875 824 921 893
15 Number for sale at
end of period(1) 308 309 303 303
Price of units
sold (thousands
of dollars)(2)
16 Median 165.0 160.0 166.1 165.0
17 Average 200.1 196.0 197.1 203.0
EXISTING UNITS
(one-family)
18 Number sold 5,090 5,310 4,820 5,280
Price of units
sold (thousands
of dollars)(2)
19 Median 137.6 140.2 143.3 143.2
20 Average 176.0 178.9 177.7 183.0
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 811,816 798,860 783,468 794,517
22 Private 629,820 624,383 613,831 619,269
23 Residential 367,653 363,756 354,982 355,666
24 Nonresidential 262,167 260,627 258,849 263,603
25 Industrial
buildings 39,814 39,951 41,731 41,095
26 Commercial
buildings 113,381 112,834 112,616 114,056
27 Other
buildings 45,540 44,559 45,076 45,224
28 Public
utilities
and other 63,432 63,283 59,426 63,228
29 Public 181,995 174,477 169,637 175,248
30 Military 2,246 2,157 2,092 2,359
31 Highway 51,966 48,148 48,540 48,310
32 Conservation and
development 5,363 5,832 4,708 5,534
33 Other 122,420 118,340 114,297 119,045
(1.) Not at annual rates.
(2.) Not seasonally adjusted.
(3.) Recent data on value of new construction may not be strictly
comparable with data for previous periods because of changes by
the Bureau of the Census in its estimating techniques.
For a description of these changes, see Construction Reports
(C-30-76-5), issued by the Census Bureau in July 1976.
SOURCE. Bureau of the Census estimates for all series except (1)
mobile homes, which are private, domestic shipments as reported by
the Manufactured Housing Institute and seasonally adjusted by the
Census Bureau, and (2) sales and prices of existing units, which are
published by the National Association of Realtors. All back and
current figures are available from the originating agency. Permit
authorizations are those reported to the Census Bureau from 19,000
jurisdictions beginning in 1994.
2.15 CONSUMER AND PRODUCER PRICES
Percentage changes based on seasonally adjusted data except as noted
Change from Change from 3
12 months months earlier
earlier (annual rate)
1999 2000
Item
1999 2000
Sept. Sept.
Dec. Mar.
CONSUMER PRICES(2)
(1982-84=100)
1 All items 2.6 3.5 2.4 6.1(r)
2 Food 2.2 2.6 2.2 1.7
3 Energy items 10.2 15.4 7.8 50.5
4 All items less food
and energy 2.0 2.6 1.8 3.4(r)
5 Commodities 1.0 .3 -.6 .3
6 Services 2.5 3.5 3.1 4.7(r)
PRODUCER PRICES
(1982=100)
7 Finished goods 3.1 3.3 .9 7.9
8 Consumer foods 1.0 .3 -2.0 3.6
9 Consumer energy 13.8 17.2 5.9 51.8
10 Other consumer goods 2.9 1.3 1.1 .8
11 Capital equipment .0 1.2 1.2 .9
Intermediate materials
12 Excluding foods and
feeds 2.1 4.8 3.6 9.5
13 Excluding energy .6 2.3 2.1 4.2
Crude materials
14 Foods -1.2 -2.5 -3.6 21.5
15 Energy 53.4 40.8 -27.9 84.9
16 Other .9 2.5 26.2 9.9
Change from 3 Change from 1
months earlier month earlier
(annual rate)
2000 2000
Item
June Sept. May June
CONSUMER PRICES(2)
(1982-84=100)
1 All items 2.6 2.8 .1 .5(r)
2 Food 2.7 3.9 .5 .1
3 Energy items 6.6 3.5 -1.9 5.6
4 All items less food
and energy 2.2(r) 2.7 .2 .2
5 Commodities .0 1.7 .0 -.2
6 Services 3.0(r) 3.0 .3(r) .3
PRODUCER PRICES
(1982=100)
7 Finished goods 1.8 2.6 .1(r) .7(r)
8 Consumer foods 1.8 -1.4 -.2(r) -.4(r)
9 Consumer energy 5.7 11.4 -.2(r) 5.8(r)
10 Other consumer goods .8 2.4 .3(r) -.1
11 Capital equipment 1.5 1.4 .2(r) .1(r)
Intermediate materials
12 Excluding foods and
feeds 2.8 3.4 -.1 .9
13 Excluding energy 2.7 .3 .1(r) .1(r)
Crude materials
14 Foods -11.1 -13.3 -1.4(r) -2.9(r)
15 Energy 106.7 42.6 8.8(r) 15.4(r)
16 Other -10.5 -10.7 -.2(r) -1.5(r)
Change from 1
month earlier
Index
Item 2000 level,
Sept.
2000(1)
July Aug. Sept.
CONSUMER PRICES(2)
(1982-84=100)
1 All items .2 -.1 .5 173.7
2 Food .5 .2 .2 168.9
3 Energy items .1 -2.9 3.8 130.6
4 All items less food
and energy .2 .2 .3 182.3
5 Commodities .0 -.1 .5 145.1
6 Services .3(r) .3 .1 203.5
PRODUCER PRICES
(1982=100)
7 Finished goods .0 -.2 .9 139.2
8 Consumer foods .0 -.7 .4 137.1
9 Consumer energy -.7 -.2 3.7 100.6
10 Other consumer goods .1 .1 .4 153.6
11 Capital equipment .1 .0 .2 138.4
Intermediate materials
12 Excluding foods and
feeds .3 -.2 .7 132.1
13 Excluding energy .2 -.1 .0 137.0
Crude materials
14 Foods -2.7 -4.5 3.9 97.6
15 Energy .4 .6 8.1 134.3
16 Other -1.8 -1.3 .3 142.6
(1.) Not seasonally adjusted.
(2.) Figures for consumer prices are for all urban consumers and
reflect a rental-equivalence measure of homeownership.
SOURCE. U.S. Department of Labor, Bureau of Labor Statistics.
2.16 GROSS DOMESTIC PRODUCT AND INCOME
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
Account 1997 1998 1999
GROSS DOMESTIC PRODUCT
1 Total 8,318.4 8,790.2 9,299.2
By source
2 Personal consumption
expenditures 5,529.3 5,850.9 6,268.7
3 Durable goods 642.5 693.9 761.3
4 Nondurable goods 1,641.6 1,707.6 1,845.5
5 Services 3,245.2 3,449.3 3,661.9
6 Gross private domestic
investment 1,390.5 1,549.9 1,650.1
7 Fixed investment 1,327.7 1,472.9 1,606.8
8 Nonresidential 999.4 1,107.5 1,203.1
9 Structures 255.8 283.2 285.6
10 Producers' durable
equipment 743.6 824.3 917.4
11 Residential structures 328.2 365.4 403.8
12 Change in business
inventories 62.9 77.0 43.3
13 Nonfarm 60.0 76.4 43.6
14 Net exports of goods and
services -89.3 -151.5 -254.0
15 Exports 966.4 966.0 990.2
16 Imports 1,055.8 1,117.5 1,244.2
17 Government consumption
expenditures and gross
investment 1,487.9 1,540.9 1,634.4
18 Federal 538.2 540.6 568.6
19 State and local 949.7 1,000.3 1,065.8
By major type of product
20 Final sales, total 8,255.5 8,713.2 9,255.9
21 Goods 3,082.5 3,239.3 3,467.0
22 Durable 1,436.2 1,532.3 1,651.1
23 Nondurable 1,646.4 1,707.1 1,815.8
24 Services 4,442.1 4,673.0 4,934.6
25 Structures 730.9 800.9 854.3
26 Change in business inventories 62.9 77.0 43.3
27 Durable goods 33.1 45.8 27.2
28 Nondurable goods 29.8 31.2 16.1
MEMO
29 Total GDP in chained 1996
dollars 8,159.5 8,515.7 8,875.8
NATIONAL INCOME
30 Total 6,618.4 7,038.1 7,469.7
31 Compensation of employees 4,651.3 4,984.2 5,299.8
32 Wages and salaries 3,886.0 4,192.8 4,475.1
33 Government and government
enterprises 664.3 692.7 724.4
34 Other 3,221.7 3,500.1 3,750.7
35 Supplement to wages and
salaries 765.3 791.4 824.6
36 Employer contributions for
social insurance 289.9 305.9 323.6
37 Other labor income 475.4 485.5 501.0
38 Proprietors' income(1) 581.2 620.7 663.5
39 Business and professional(1) 551.5 595.2 638.2
40 Farm(1) 29.7 25.4 25.3
41 Rental income of persons(2) 128.3 135.4 143.4
42 Corporate profits(1) 833.8 815.0 856.0
43 Profits before tax(3) 792.4 758.2 823.0
44 Inventory valuation
adjustment 8.4 17.0 -9.1
45 Capital consumption
adjustment 32.9 39.9 42.1
46 Net interest 423.9 482.7 507.1
1999
Account
Q2 Q3 Q4
GROSS DOMESTIC PRODUCT
1 Total 9,191.5 9,340.9 9,559.7
By source
2 Personal consumption
expenditures 6,213.2 6,319.9 6,446.2
3 Durable goods 756.3 767.2 787.6
4 Nondurable goods 1,825.3 1,860.0 1,910.2
5 Services 3,631.5 3,692.7 3,748.5
6 Gross private domestic
investment 1,607.9 1,659.1 1,723.7
7 Fixed investment 1,593.4 1,622.4 1,651.0
8 Nonresidential 1,188.0 1,216.8 1,242.2
9 Structures 283.7 281.2 290.4
10 Producers' durable
equipment 904.3 935.6 951.8
11 Residential structures 405.4 405.6 408.8
12 Change in business
inventories 14.5 36.7 72.7
13 Nonfarm 13.4 42.0 71.8
14 Net exports of goods and
services -240.4 -280.5 -299.1
15 Exports 973.0 999.5 1,031.0
16 Imports 1,213.4 1,280.0 1,330.1
17 Government consumption
expenditures and gross
investment 1,610.9 1,642.4 1,688.8
18 Federal 558.3 570.4 591.6
19 State and local 1,052.6 1,072.1 1,097.3
By major type of product
20 Final sales, total 9,177.0 9,304.2 9,486.9
21 Goods 3,436.7 3,490.6 3,566.0
22 Durable 1,635.9 1,669.4 1,701.8
23 Nondurable 1,800.8 1,821.1 1,864.1
24 Services 4,891.2 4,965.2 5,050.3
25 Structures 849.1 848.5 870.7
26 Change in business inventories 14.5 36.7 72.7
27 Durable goods 5.0 27.6 47.5
28 Nondurable goods 9.5 9.1 25.2
MEMO
29 Total GDP in chained 1996
dollars 8,783.2 8,905.8 9,084.1
NATIONAL INCOME
30 Total 7,392.3 7,493.1 7,680.7
31 Compensation of employees 5,255.4 5,340.9 5,421.1
32 Wages and salaries 4,435.5 4,512.2 4,583.5
33 Government and government
enterprises 720.3 727.5 734.5
34 Other 3,715.2 3,784.7 3,849.0
35 Supplement to wages and
salaries 819.9 828.7 837.7
36 Employer contributions for
social insurance 321.2 325.9 330.3
37 Other labor income 498.7 502.8 507.4
38 Proprietors' income(1) 660.4 659.7 689.6
39 Business and professional(1) 631.4 644.2 657.9
40 Farm(1) 29.0 15.5 31.7
41 Rental income of persons(2) 145.7 136.6 146.2
42 Corporate profits(1) 836.8 842.0 893.2
43 Profits before tax(3) 804.5 819.0 870.7
44 Inventory valuation
adjustment -8.9 -19.7 -19.2
45 Capital consumption
adjustment 41.2 42.7 41.6
46 Net interest 494.1 513.8 530.6
2000
Account
Q1 Q2(r)
GROSS DOMESTIC PRODUCT
1 Total 9,752.7 9,945.7
By source
2 Personal consumption
expenditures 6,621.7 6,706.3
3 Durable goods 826.3 814.3
4 Nondurable goods 1,963.9 1,997.6
5 Services 3,831.6 3,894.4
6 Gross private domestic
investment 1,755.7 1,852.6
7 Fixed investment 1,725.8 1,780.5
8 Nonresidential 1,308.5 1,359.2
9 Structures 308.9 315.1
10 Producers' durable
equipment 999.6 1,044.1
11 Residential structures 417.3 421.3
12 Change in business
inventories 29.9 72.0
13 Nonfarm 32.4 72.2
14 Net exports of goods and
services -335.2 -355.4
15 Exports 1,051.9 1,092.9
16 Imports 1,387.1 1,448.3
17 Government consumption
expenditures and gross
investment 1,710.4 1,742.2
18 Federal 580.1 604.5
19 State and local 1,130.4 1,137.7
By major type of product
20 Final sales, total 9,722.8 9,873.7
21 Goods 3,680.3 3,734.1
22 Durable 1,773.7 1,809.6
23 Nondurable 1,906.6 1,924.5
24 Services 5,135.2 5,231.4
25 Structures 907.4 908.2
26 Change in business inventories 29.9 72.0
27 Durable goods 20.7 48.3
28 Nondurable goods 9.2 23.7
MEMO
29 Total GDP in chained 1996
dollars 9,191.8 9,318.9
NATIONAL INCOME
30 Total 7,833.5 7,983.2
31 Compensation of employees 5,512.2 5,603.5
32 Wages and salaries 4,660.4 4,740.1
33 Government and government
enterprises 749.9 760.2
34 Other 3,910.5 3,980.0
35 Supplement to wages and
salaries 851.8 863.3
36 Employer contributions for
social insurance 337.8 342.9
37 Other labor income 514.0 520.5
38 Proprietors' income(1) 693.9 709.5
39 Business and professional(1) 674.8 688.1
40 Farm(1) 19.1 21.5
41 Rental income of persons(2) 145.6 140.8
42 Corporate profits(1) 936.3 963.6
43 Profits before tax(3) 920.7 942.5
44 Inventory valuation
adjustment -25.0 -13.6
45 Capital consumption
adjustment 40.6 34.7
46 Net interest 545.4 565.9
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
(3.) For after-tax profits, dividends, and the like, see table 1.48.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
2.17 PERSONAL INCOME AND SAVING
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
Account 1997 1998 1999
PERSONAL INCOME AND SAVING
1 Total personal income 6,937.0 7,391.0 7,789.6
2 Wage and salary disbursements 3,888.9 4,190.7 4,470.0
3 Commodity-producing industries 975.1 1,038.6 1,089.2
4 Manufacturing 718.4 756.6 782.4
5 Distributive industries 879.6 949.1 1,020.3
6 Service industries 1,369.9 1,510.3 1,636.0
7 Government and government
enterprises 664.3 692.7 724.4
8 Other labor income 475.4 485.5 501.0
9 Proprietors' income(1) 581.2 620.7 663.5
10 Business and professional(1) 551.5 595.2 638.2
11 Farm(1) 29.7 25.4 25.3
12 Rental income of persons(2) 128.3 135.4 143.4
13 Dividends 334.9 351.1 370.3
14 Personal interest income 864.0 940.8 963.7
15 Transfer payments 962.2 983.0 1,016.2
16 Old-age survivors, disability,
and health insurance benefits 565.8 578.0 588.0
17 LESS: Personal contributions
for social insurance 297.9 316.2 338.5
18 EQUALS: Personal income 6,937.0 7,391.0 7,789.6
19 LESS: Personal tax and nontax
payments 968.8 1,070.9 1,152.0
20 EQUALS: Disposable personal
income 5,968.2 6,320.0 6,637.7
21 LESS: Personal outlays 5,715.3 6,054.7 6,490.1
22 EQUALS: Personal saving 252.9 265.4 147.6
MEMO
Per capita (chained 1996 dollars)
23 Gross domestic product 30,434.4 31,469.5 32,511.9
24 Personal consumption expenditures 20,230.9 20,985.4 21,900.4
25 Disposable personal income 21,838.0 22,672.0 23,191.0
26 Saving rate (percent) 4.2 4.2 2.2
GROSS SAVING
27 Gross saving 1.502.3 1,654.4 1,717.6
28 Gross private saving 1,343.7 1,375.7 1,343.5
29 Personal saving 252.9 265.4 147.6
30 Undistributed corporate
profits(1) 261.3 218.9 229.4
31 Corporate inventory valuation
adjustment 8.4 17.0 -9.1
Capital consumption allowances
32 Corporate 581.5 624.3 676.9
33 Noncorporate 250.9 265.1 284.5
34 Gross government saving 158.6 278.7 374.1
35 Federal 33.4 137.4 217.3
36 Consumption of fixed capital 86.8 88.4 92.8
37 Current surplus or deficit
(-), national accounts -53.3 49.0 124.4
38 State and local 125.2 141.3 156.8
39 Consumption of fixed capital 94.2 99.5 106.8
40 Current surplus or deficit
(-), national accounts 31.0 41.7 50.0
41 Gross investment 1,532.1 1,629.6 1,645.6
42 Gross private domestic investment 1,390.5 1,549.9 1,650.1
43 Gross government investment 264.6 278.8 308.7
44 Net foreign investment -123.1 -199.1 -313.2
45 Statistical discrepancy 29.7 -24.8 -71.9
1999
Account
Q2 Q3 Q4
PERSONAL INCOME AND SAVING
1 Total personal income 7,729.7 7,828.5 7,972.3
2 Wage and salary disbursements 4,430.4 4,507.0 4,578.3
3 Commodity-producing industries 1,081.6 1,097.8 1,111.2
4 Manufacturing 777.4 789.0 795.1
5 Distributive industries 1,009.9 1,029.9 1,049.4
6 Service industries 1,618.6 1,651.8 1,683.2
7 Government and government
enterprises 720.3 727.5 734.5
8 Other labor income 498.7 502.8 507.4
9 Proprietors' income(1) 660.4 659.7 689.6
10 Business and professional(1) 631.4 644.2 657.9
11 Farm(1) 29.0 15.5 31.7
12 Rental income of persons(2) 145.7 136.6 146.2
13 Dividends 366.8 373.5 380.2
14 Personal interest income 951.3 969.4 989.0
15 Transfer payments 1,012.2 1,020.3 1,027.4
16 Old-age survivors, disability,
and health insurance benefits 586.1 589.7 592.8
17 LESS: Personal contributions
for social insurance 335.8 341.0 345.9
18 EQUALS: Personal income 7,729.7 7,828.5 7,972.3
19 LESS: Personal tax and nontax
payments 1,133.4 1,164.0 1,197.3
20 EQUALS: Disposable personal
income 6,596.3 6,664.5 6,775.0
21 LESS: Personal outlays 6,432.8 6,543.3 6,674.1
22 EQUALS: Personal saving 163.6 121.1 101.0
MEMO
Per capita (chained 1996 dollars)
23 Gross domestic product 32,220.0 32,586.0 33,153.5
24 Personal consumption expenditures 21,791.0 22,004.4 22,266.4
25 Disposable personal income 23,133.0 23,203.0 23,404.0
26 Saving rate (percent) 2.5 1.8 1.5
GROSS SAVING
27 Gross saving 1,691.7 1,716.8 1,746.3
28 Gross private saving 1,338.5 1,321.1 1,331.4
29 Personal saving 163.6 121.1 101.0
30 Undistributed corporate
profits(1) 218.7 214.0 241.7
31 Corporate inventory valuation
adjustment -8.9 -19.7 -19.2
Capital consumption allowances
32 Corporate 670.7 687.7 694.8
33 Noncorporate 280.3 293.1 288.7
34 Gross government saving 353.3 395.7 414.9
35 Federal 209.5 240.6 238.4
36 Consumption of fixed capital 92.0 93.4 95.0
37 Current surplus or deficit
(-), national accounts 117.5 147.3 143.3
38 State and local 143.7 155.1 176.6
39 Consumption of fixed capital 105.8 107.7 109.9
40 Current surplus or deficit
(-), national accounts 38.0 47.4 66.6
41 Gross investment 1,614.9 1,627.3 1,678.5
42 Gross private domestic investment 1,607.9 1,659.1 1,723.7
43 Gross government investment 303.5 308.0 324.4
44 Net foreign investment -296.5 -339.8 -369.6
45 Statistical discrepancy -76.8 -89.5 -67.8
2000
Account
Q1 Q2(r)
PERSONAL INCOME AND SAVING
1 Total personal income 8,105.8 8,242.1
2 Wage and salary disbursements 4,660.4 4,740.1
3 Commodity-producing industries 1,130.9 1,147.1
4 Manufacturing 802.8 813.1
5 Distributive industries 1,070.9 1,095.7
6 Service industries 1,708.6 1,737.2
7 Government and government
enterprises 749.9 760.2
8 Other labor income 514.0 520.5
9 Proprietors' income(1) 693.9 709.5
10 Business and professional(1) 674.8 688.1
11 Farm(1) 19.1 21.5
12 Rental income of persons(2) 145.6 140.8
13 Dividends 386.9 392.6
14 Personal interest income 1,011.6 1,031.3
15 Transfer payments 1,046.9 1,066.1
16 Old-age survivors, disability,
and health insurance benefits 607.9 624.3
17 LESS: Personal contributions
for social insurance 353.4 358.8
18 EQUALS: Personal income 8,105.8 8,242.1
19 LESS: Personal tax and nontax
payments 1,239.3 1,277.2
20 EQUALS: Disposable personal
income 6,866.5 6,964.9
21 LESS: Personal outlays 6,855.6 6,944.3
22 EQUALS: Personal saving 11.0 20.6
MEMO
Per capita (chained 1996 dollars)
23 Gross domestic product 33,485.6 33,874.7
24 Personal consumption expenditures 22,635.5 22,757.7
25 Disposable personal income 23,472.0 23,639.0
26 Saving rate (percent) .2 .3
GROSS SAVING
27 Gross saving 1,777.0 1,844.5
28 Gross private saving 1,279.2 1,328.8
29 Personal saving 11.0 20.6
30 Undistributed corporate
profits(1) 262.7 278.5
31 Corporate inventory valuation
adjustment -25.0 -13.6
Capital consumption allowances
32 Corporate 711.5 731.1
33 Noncorporate 294.1 298.7
34 Gross government saving 497.7 515.7
35 Federal 333.0 339.9
36 Consumption of fixed capital 97.2 98.9
37 Current surplus or deficit
(-), national accounts 235.8 240.9
38 State and local 164.7 175.8
39 Consumption of fixed capital 112.7 115.6
40 Current surplus or deficit
(-), national accounts 52.0 60.1
41 Gross investment 1,699.3 1,771.9
42 Gross private domestic investment 1,755.7 1,852.6
43 Gross government investment 334.2 331.9
44 Net foreign investment -390.7 -412.5
45 Statistical discrepancy -77.7 -72.5
(1.) with inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted except
as noted(1)
Item credits or debits 1997 1998 1999
1 Balance on current account -140,540 -217,138 -331,479
2 Balance on goods and
services -105,932 -166,898 -264,971
3 Exports 936,937 932,977 956,242
4 Imports -1,042,869 -1,099,875 -1,221,213
5 Income, net 6,186 6,211 -18,483
6 Investment, net 11,050 1,036 -13,102
7 Direct 71,935 67,728 62,704
8 Portfolio -60,885 -68,764 -75,806
9 Compensation of employees -4,864 -5,175 -5,381
10 Unilateral current
transfers, net -40,794 -44,029 -48,025
11 Change in U.S. government
assets other than official
reserve assets, net
(increase, -) 68 -422 2,751
12 Change in U.S. official
reserve assets
(increase, -) -1,010 -6,783 8,747
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -350 -147 10
15 Reserve position in
International Monetary
Fund -3,575 -5,119 5,484
16 Foreign currencies 2,915 1,517 3,253
17 Change in U.S. private assets
abroad (increase, -) -487,998 -328,231 -441,685
18 Bank-reported claims -141,118 -35,572 -69,862
19 Nonbank-reported claims -122,888 -10,612 -92,328
20 U.S. purchases of foreign
securities, net -118,976 -135,995 -128,594
21 U.S. direct investments
abroad, net -105,016 -146,052 -150,901
22 Change in foreign official
assets in United States
(increase, +) 18,876 -20,127 42,864
23 U.S. Treasury securities -6,690 -9,921 12,177
24 Other U.S. government
obligations 4,529 6,332 20,350
25 Other U.S. government
liabilities(3) -1,041 -3,550 -3,255
26 Other U.S. liabilities
reported by U.S. banks(3) 22,286 -9,501 12,692
27 Other foreign official
assets(4) -208 -3,487 900
28 Change in foreign private
assets United States
(increase, +) 738,086 502,362 710,700
29 U.S. bank-reported
liabilities(2) 149,026 39,769 67,403
30 U.S. nonbank-reported
liabilities 113,921 -7,001 34,298
31 Foreign private purchases
of U.S. Treasury
securities, net 146,433 48,581 -20,464
32 U.S. currency flows 24,782 16,622 22,407
33 Foreign purchases of other
U.S. securities, net 197,892 218,075 331,523
34 Foreign direct investments
in United States, net 106,032 186,316 275,533
35 Capital account transactions,
net(5) 350 637 -3,500
36 Discrepancy -127,832 69,702 11,602
37 Due to seasonal adjustment ... ... ...
38 Before seasonal adjustment -127,832 69,702 11,602
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) -1,010 -6,783 8,747
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 19,917 -16,577 46,119
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States
(part of line 22) 12,124 11,531 1,331
1999
Item credits or debits
Q2 Q3 Q4
1 Balance on current account -78,982 -89,649 -96,223
2 Balance on goods and
services -63,300 -72,718 -76,280
3 Exports 234,297 241,969 249,653
4 Imports -297,597 -314,687 -325,933
5 Income, net -4,145 -5,535 -5,683
6 Investment, net -2,813 -4,193 -4,319
7 Direct 14,698 15,701 16,275
8 Portfolio -17,511 -19,894 -20,594
9 Compensation of employees -1,332 -1,342 -1,364
10 Unilateral current
transfers, net -11,537 -11,396 -14,260
11 Change in U.S. government
assets other than official
reserve assets, net
(increase, -) -392 -686 3,711
12 Change in U.S. official
reserve assets
(increase, -) 1,159 1,951 1,569
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -190 -184 -178
15 Reserve position in
International Monetary
Fund 1,413 2,268 1,800
16 Foreign currencies -64 -133 -53
17 Change in U.S. private assets
abroad (increase, -) -171,609 -124,174 -120,162
18 Bank-reported claims -41,786 -11,259 -45,304
19 Nonbank-reported claims -25,734 -27,943 -24,428
20 U.S. purchases of foreign
securities, net -71,131 -41,420 -17,150
21 U.S. direct investments
abroad, net -32,958 -43,552 -33,280
22 Change in foreign official
assets in United States
(increase, +) -1,096 12,191 27,495
23 U.S. Treasury securities -6,708 12,963 5,122
24 Other U.S. government
obligations 5,792 1,835 6,730
25 Other U.S. government
liabilities(3) -1,099 -760 89
26 Other U.S. liabilities
reported by U.S. banks(3) 1,436 -2,032 14,427
27 Other foreign official
assets(4) -517 185 1,127
28 Change in foreign private
assets United States
(increase, +) 273,104 182,019 157,072
29 U.S. bank-reported
liabilities(2) 37,151 24,585 19,618
30 U.S. nonbank-reported
liabilities 13,663 -8,085 792
31 Foreign private purchases
of U.S. Treasury
securities, net -5,407 9,639 -17,191
32 U.S. currency flows 3,057 4,697 12,213
33 Foreign purchases of other
U.S. securities, net 80,838 95,620 92,250
34 Foreign direct investments
in United States, net 143,802 55,563 49,390
35 Capital account transactions,
net(5) 165 171 -3,993
36 Discrepancy -22,349 18,177 30,531
37 Due to seasonal adjustment -1,511 -9,739 5,738
38 Before seasonal adjustment -20,838 27,916 24,793
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) 1,159 1,951 1,569
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 3 12,951 27,406
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States
(part of line 22) 1,632 -783 -1,673
2000
Item credits or debits
Q1 Q2
1 Balance on current account -101,505 -106,138
2 Balance on goods and
services -85,117 -89,259
3 Exports 255,977 265,133
4 Imports -341,094 -354,392
5 Income, net -4,364 -4,543
6 Investment, net -2,987 -3,145
7 Direct 17,068 18,421
8 Portfolio -20,055 -21,566
9 Compensation of employees -1,377 -1,398
10 Unilateral current
transfers, net -12,024 -12,336
11 Change in U.S. government
assets other than official
reserve assets, net
(increase, -) -131 -572
12 Change in U.S. official
reserve assets
(increase, -) -554 2,020
13 Gold 0 0
14 Special drawing rights
(SDRs) -180 -180
15 Reserve position in
International Monetary
Fund -237 2,328
16 Foreign currencies -137 -128
17 Change in U.S. private assets
abroad (increase, -) -178,273 -75,096
18 Bank-reported claims -55,511 14,861
19 Nonbank-reported claims -52,563 -26,112
20 U.S. purchases of foreign
securities, net -27,236 -26,350
21 U.S. direct investments
abroad, net -42,963 -37,495
22 Change in foreign official
assets in United States
(increase, +) 22,015 5,905
23 U.S. Treasury securities 16,198 -4,000
24 Other U.S. government
obligations 8,107 10,334
25 Other U.S. government
liabilities(3) -644 -772
26 Other U.S. liabilities
reported by U.S. banks(3) -2,577 -561
27 Other foreign official
assets(4) 931 904
28 Change in foreign private
assets United States
(increase, +) 214,520 216,831
29 U.S. bank-reported
liabilities(2) -8,824 48,660
30 U.S. nonbank-reported
liabilities 58,061 21,597
31 Foreign private purchases
of U.S. Treasury
securities, net -9,248 -20,661
32 U.S. currency flows -6,847 989
33 Foreign purchases of other
U.S. securities, net 132,416 86,547
34 Foreign direct investments
in United States, net 48,962 79,699
35 Capital account transactions,
net(5) 166 163
36 Discrepancy 43,762 -43,113
37 Due to seasonal adjustment 5,724 -2,505
38 Before seasonal adjustment 38,038 -40,608
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) -554 2,020
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 22,659 6,677
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States
(part of line 22) 6,109 1,922
(1.) Seasonal factors are not calculated for lines 11-16, 18-20,
22-35, and 38-41.
(2.) Reporting banks included all types of depository institutions
as well as some brokers and dealers.
(3.) Associated primarily with military sales contracts and other
transactions arranged with or through foreign official agencies.
(4.) Consists of investments in U.S. corporate stocks and in debt
securities of private corporations and state and local governments.
(5.) Consists of capital transfers (such as those of accompanying
migrants entering or leaving the country and debt forgiveness) and
the acquisition and disposal of nonproduced nonfinancial assets.
SOURCE. U.S. Department of Commerce, Bureau of Economic Analysis,
Survey of Current Business.
3.11 U.S. FOREIGN TRADE(1)
Millions of dollars; monthly data seasonally adjusted
2000
Item 1997 1998 1999
Feb.
1 Goods and
services,
balance -105,932 -166,898 -264,971 -27,481
2 Merchandise -196,665 -246,854 -345,559 -34,641
3 Services 90,733 79,956 80,588 7,160
4 Goods and
services,
exports 936,937 932,977 956,242 85,312
5 Merchandise 679,702 670,324 684,358 60,894
6 Services 257,235 262,653 271,884 24,418
7 Goods and
services,
imports 1,042,869 1,099,875 1,221,213 -112,793
8 Merchandise 876,367 917,178 1,029,917 -95,535
9 Services 166,502 182,697 191,296 -17,258
2000
Item
Mar. Apr. May June
1 Goods and
services,
balance -30,370 -29,637 -29,794 -29,846
2 Merchandise -37,148 -36,894 -36,475 -36,862
3 Services 6,778 7,257 6,681 7,016
4 Goods and
services,
exports 86,975 87,268 86,846 90,991
5 Merchandise 62,513 62,566 62,749 66,468
6 Services 24,462 24,702 24,097 24,523
7 Goods and
services,
imports -117,345 -116,905 -116,640 -120,837
8 Merchandise -99,661 -99,460 -99,224 -103,330
9 Services -17,684 -17,445 -17,416 -17,507
2000
Item
July(r) Aug.(p)
1 Goods and
services,
balance -31,692 -29,440
2 Merchandise -38,523 -36,408
3 Services -6,831 6,968
4 Goods and
services,
exports 89,799 93,022
5 Merchandise 65,096 67,963
6 Services 24,703 25,059
7 Goods and
services,
imports -121,492 -122,462
8 Merchandise -103,620 -104,371
9 Services -17,872 -18,091
(1.) Data show monthly values consistent with quarterly figures in the
U.S. balance of payments accounts.
SOURCE. FT900, U.S. Department of Commerce, Bureau of the Census and
Bureau of Economic Analysis.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
2000
Asset 1997 1998 1999
Mar. Apr. May
1 Total 69,954 81,755 71,516 70,789 66,587 67,160
2 Gold stock,
including
Exchange
Stabili-
zation
Fund(1) 11,050 11,041 11,089 11,008 11,048 11,048
3 Special
drawing
rights(2,3) 10,027 10,603 10,336 10,335 10,122 10,310
4 Reserve
position
in Inter-
national
Monetary
Fund(2) 18,071 24,111 17,950 17,871 15,403 15,373
5 Foreign
curren-
cies(4) 30,809 36,001 32,182 31,535 30,014 30,429
2000
Asset
June July Aug. Sept. Oct.(p)
1 Total 67,957 66,516 65,333 66,256 65,257
2 Gold stock,
including
Exchange
Stabili-
zation
Fund(1) 11,048 11,046 11,046 11,046 11,046
3 Special
drawing
rights(2,3) 10,444 10,257 10,371 10,316 10,169
4 Reserve
position
in Inter-
national
Monetary
Fund(2) 15,428 15,083 13,798 13,685 13,528
5 Foreign
curren-
cies(4) 31,037 30,130 30,118 31,209 30,514
(1.) Gold held "under earmark" at Federal Reserve Banks for foreign
and international accounts is not included in the gold stock of the
United States; see table 3.13, line 3. Gold stock is valued at $42.22
per fine troy ounce.
(2.) Special drawing rights (SDRs) are valued according to a technique
adopted by the International Monetary Fund (IMF) in July 1974. Values
are based on a weighted average of exchange rates for the currencies
of member countries. From July 1974 through December 1980, sixteen
currencies were used; since January 1981, five currencies have been
used. U.S. SDR holdings and reserve positions in the IMF also have
been valued on this basis since July 1974.
(3.) Includes allocations of SDRs by the International Monetary Fund
on Jan. 1 of the year indicated, as follows: 1970--$867 million;
1971--$717 million; 1972--$710 million; 1979--$1,139 million;
1980--$1,152 million; 1981--$1,093 million; plus net transactions in
SDRs.
(4.) Valued at current market exchange rates.
3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS(1)
Millions of dollars, end of period
2000
Asset 1997 1998 1999
Mar.
1 Deposits 457 167 71 125
Held in custody
2 U.S. Treasury
securities(2) 620,885 607,574 632,482 641,830
3 Earmarked gold(3) 10,763 10,343 9,933 9,711
2000
Asset
Apr. May June July
1 Deposits 142 110 104 76
Held in custody
2 U.S. Treasury
securities(2) 632,216 623,553 627,081 624,177
3 Earmarked gold(3) 9,711 9,711 9,688 9,688
2000
Asset
Aug. Sept. Oct.(p)
1 Deposits 78 139 115
Held in custody
2 U.S. Treasury
securities(2) 628,001 611,641 595,591
3 Earmarked gold(3) 9,674 9,620 9,565
(1.) Excludes deposits and U.S. Treasury securities held
for international and regional organizations.
(2.) Marketable U.S. Treasury bills, notes, and bonds and
nonmarketable U.S. Treasury securities, in each case measured
at face (not market) value.
(3.) Held in foreign and international accounts and valued at
$42.22 per fine troy ounce; not included in the gold stock of
the United States.
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2000
Item 1998 1999
Feb.
1 Total(1) 759,928 806,288 812,353
By type
2 Liabilities
reported by
banks in the
United States(2) 125,883 138,817 130,268
3 U.S. Treasury
bills and
certificates(3) 134,177 156,177 156,995
U.S. Treasury
bonds and
notes
4 Marketable 432,127 422,266 430,806
5 Nonmarketable(4) 6,074 6,111 6,191
6 U.S. securities
other than
U.S. Treasury
securities(5) 61,667 82,917 88,093
By area
7 Europe(1) 256,026 244,805 248,792
8 Canada 10,552(c) 12,503(c) 13,195(c)
9 Latin America and
Caribbean 79,503 73,518 71,180
10 Asia 400,631 463,673 466,087
11 Africa 10,059 7,523 7,976
12 Other countries 3,157(r) 4,266(r) 5,123(r)
2000
Item
Mar. Apr. May
1 Total(1) 828,947 834,154 826,302
By type
2 Liabilities
reported by
banks in the
United States(2) 136,240 137,724 135,802
3 U.S. Treasury
bills and
certificates(3) 164,781 157,607 148,820
U.S. Treasury
bonds and
notes
4 Marketable 430,237 436,640 435,235
5 Nonmarketable(4) 5,734 5,770 5,808
6 U.S. securities
other than
U.S. Treasury
securities(5) 91,955 96,413 100,637
By area
7 Europe(1) 251,571 249,685 250,306
8 Canada 13,683(c) 13,338(c) 13,027(c)
9 Latin America and
Caribbean 77,014 72,407 69,508
10 Asia 474,355 486,133 482,134
11 Africa 7,979 8,024 7,709
12 Other countries 4,345(r) 4,567(r) 3,618(r)
2000
Item
June July Aug.(p)
1 Total(1) 836,075 848,298 849,722
By type
2 Liabilities
reported by
banks in the
United States(2) 136,129 141,186 137,242
3 U.S. Treasury
bills and
certificates(3) 157,190 160,093 159,781
U.S. Treasury
bonds and
notes
4 Marketable 433,823 433,184 433,633
5 Nonmarketable(4) 5,740 5,180 5,213
6 U.S. securities
other than
U.S. Treasury
securities(5) 103,193 108,655 113,853
By area
7 Europe(1) 253,416 258,923 255,820
8 Canada 13,542(c) 13,728(c) 12,992c
9 Latin America and
Caribbean 71,220 73,616 76,317
10 Asia 485,424 487,490 490,210
11 Africa 7,849 8,656 8,706
12 Other countries 4,624(r) 5,884(r) 5,677(r)
(1.) Includes the Bank for International Settlements.
(2.) Principally demand deposits, time deposits, bankers acceptances,
commercial paper, negotiable time certificates of deposit,
and borrowings under repurchase agreements.
(3.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(4.) Excludes notes issued to foreign official nonreserve agencies.
Includes current value of zero-coupon Treasury bond issues to foreign
governments as follows: Mexico, beginning March 1988, 20-year maturity
issue and beginning March 1990, 30-year maturity issue; Venezuela,
beginning December 1990, 30-year maturity issue; Argentina, beginning
April 1993, 30-year maturity issue.
(5.) Debt securities of U.S. government corporations and federally
sponsored agencies, and U.S. corporate stocks and bonds.
SOURCE. Based on U.S. Department of the Treasury data and on data
reported to the department by banks (including Federal Reserve Banks)
and securities dealers in the United States, and on the 1994 benchmark
survey of foreign portfolio investment in the United States.
3.16 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS Reported by
Banks in the United States(1)
Payable in Foreign Currencies
Millions of dollars, end of period
1999
Item 1996 1997 1998
Sept.
1 Banks' liabilities 103,383 117,524 101,125 100,112
2 Banks' claims 66,018 83,038 78,162 67,032
3 Deposits 22,467 28,661 45,985 32,713
4 Other claims 43,551 54,377 32,177 34,319
5 Claims of banks'
domestic
customers(2) 10,978 8,191 20,718 11,534
1999 2000
Item
Dec. Mar. June
1 Banks' liabilities 88,537 85,649 78,603
2 Banks' claims 67,365 63,492 62,631
3 Deposits 34,426 32,967 31,224
4 Other claims 32,939 30,525 31,407
5 Claims of banks'
domestic
customers(2) 20,826 21,753 18,802
(1.) Data on claims exclude foreign currencies held by U.S. monetary
authorities.
(2.) Assets owned by customers of the reporting bank located in the
United States that represent claims on foreigners held by reporting
banks for the accounts of the domestic customers.
3.17 LIABILITIES TO FOREIGNERS Reported by Banks in the United
States(1)
Payable in U.S. dollars
Millions of dollars, end of period
Item 1997 1998 1999
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,283,027 1,347,837 1,413,622(r)
2 Banks' own liabilities 882,980 884,939 976,400
3 Demand deposits 31,344 29,558 42,884
4 Time deposits(2) 198,546 151,761 163,595(r)
5 Other(3) 168,011 140,752 162,749
6 Own foreign
offices(4) 485,079 562,868 607,172(r)
7 Banks' custodial
liabilities(5) 400,047 462,898 437,222(r)
8 U.S. Treasury
bills and
certificates(6) 193,239 183,494 185,736(r)
9 Other negotiable and
readily
transferable
instruments(7) 93,641 141,699 132,575
10 Other 113,167 137,705 118,911
11 Nonmonetary
international and
regional
organizations(8) 11,690 11,883 15,276
12 Banks' own
liabilities 11,486 10,850 14,357
13 Demand deposits 16 172 98
14 Time deposits(2) 5,466 5,793 10,349
15 Other(3) 6,004 4,885 3,910
16 Banks' custodial
liabilities(5) 204 1,033 919
17 U.S. Treasury
bills and
certificates(6) 69 636 680
18 Other negotiable
and readily
transferable
instruments(7) 133 397 233
19 Other 2 0 6
20 Official
institutions(9) 283,685 260,060 294,994
21 Banks' own
liabilities 102,028 80,256 97,615
22 Demand deposits 2,314 3,003 3,341
23 Time deposits(2) 41,396 29,506 28,942
24 Other(3) 58,318 47,747 65,332
25 Banks' custodial
liabilities(5) 181,657 179,804 197,379
26 U.S. Treasury
bills and
certificates(6) 148,301 134,177 156,177
27 Other negotiable
and readily
transferable
instruments(7) 33,151 44,953 41,152
28 Other 205 674 50
29 Banks(10) 815,247 885,336 905,347(r)
30 Banks' own
liabilities 641,447 676,057 733,381(r)
31 Unaffiliated
foreign banks 156,368 113,189 126,209
32 Demand deposits 16,767 14,071 17,583
33 Time deposits(2) 83,433 45,904 48,140
34 Other(3) 56,168 53,214 60,486
35 Own foreign
offices(4) 485,079 562,868 607,172(r)
36 Banks' custodial
liabilities(5) 173,800 209,279 171,966(r)
37 U.S. Treasury
bills and
certificates(6) 31,915 35,359 16,875(r)
38 Other negotiable
and readily
transferable
instruments(7) 35,393 45,332 45,695
39 Other 106,492 128,588 109,396
40 Other foreigners 172,405 190,558 198,005(r)
41 Banks' own
liabilities 128,019 117,776 131,047(r)
42 Demand deposits 12,247 12,312 21,862
43 Time deposits(2) 68,251 70,558 76,164(r)
44 Other(3) 47,521 34,906 33,021
45 Banks' custodial
liabilities(5) 44,386 72,782 66,958
46 U.S. Treasury
bills and
certificates(6) 12,954 13,322 12,004
47 Other negotiable
and readily
transferable
instruments(7) 24,964 51,017 45,495
48 Other 6,468 8,443 9,459
MEMO
49 Negotiable time
certificates of
deposit in custody
for foreigners 16,083 27,026 30,345
AREA
50 Total, all foreigners 1,283,027 1,347,837 1,413,622(r)
51 Foreign countries 1,271,337 1,335,954 1,398,346(r)
52 Europe 419,672 427,375 448,070
53 Austria 2,717 3,178 2,789
54 Belgium and
Luxembourg 41,007 42,818 44,692
55 Denmark 1,514 1,437 2,196
56 Finland 2,246 1,862 1,658
57 France 46,607 44,616 49,790
58 Germany 23,737 21,357 24,748
59 Greece 1,552 2,066 3,748
60 Italy 11,378 7,103 6,775
61 Netherlands 7,385 10,793 8,310
62 Norway 317 710 1,327
63 Portugal 2,262 3,236 2,228
64 Russia 7,968 2,439 5,475
65 Spain 18,989 15,781 10,426
66 Sweden 1,628 3,027 4,652
67 Switzerland 39,023 50,654 65,985
68 Turkey 4,054 4,286 7,842
69 United Kingdom 181,904 181,554 176,234
70 Yugoslavia(11) 239 233 286
71 Other Europe and
other former
U.S.S.R.(12) 25,145 30,225 28,909
72 Canada 28,341 30,212 34,119
73 Latin America and
Caribbean 536,393 554,866 577,737
74 Argentina 20,199 19,014 18,633
75 Bahamas 112,217 118,085 134,407
76 Bermuda 6,911 6,846 7,877
77 Brazil 31,037 15,815 12,860
78 British West Indies 276,418 302,486 312,779
79 Chile 4,072 5,015 7,008
80 Colombia 3,652 4,624 5,669
81 Cuba 66 62 75
82 Ecuador 2,078 1,572 1,956
83 Guatemala 1,494 1,336 1,626
84 Jamaica 450 577 520
85 Mexico 33,972 37,157 30,717
86 Netherlands Antilles 5,085 5,010 3,997
87 Panama 4,241 3,864 4,415
88 Peru 893 840 1,142
89 Uruguay 2,382 2,486 2,386
90 Venezuela 21,601 19,894 20,189
91 Other 9,625 10,183 11,481
92 Asia 269,379 307,960 319,302(r)
China
93 Mainland 18,252 13,441 12,325
94 Taiwan 11,840 12,708 13,600
95 Hong Kong 17,722 20,900 27,697
96 India 4,567 5,250 7,367
97 Indonesia 3,554 8,282 6,567
98 Israel 6,281 7,749 7,488
99 Japan 143,401 168,563 159,075
100 Korea (South) 13,060 12,524 12,853
101 Philippines 3,250 3,324 3,253
102 Thailand 6,501 7,359 6,050
103 Middle Eastern
oil-exporting
countries(13) 14,959 15,609 21,284
104 Other 25,992 32,251 41,743(r)
105 Africa 10,347 8,905 9,468
106 Egypt 1,663 1,339 2,022
107 Morocco 138 97 179
108 South Africa 2,158 1,522 1,495
109 Zaire 10 5 14
110 Oil-exporting
countries(14) 3,060 3,088 2,914
111 Other 3,318 2,854 2,844
112 Other 7,205 6,636 9,650
113 Australia 6,304 5,495 8,377
114 Other 901 1,141 1,273
115 Nonmonetary
international and
regional
organizations 11,690 11,883 15,276
116 International (15) 10,517 10,221 12,876
117 Latin American
regional(16) 424 594 1,150
118 Other regional(17) 749 1,068 1,250
2000
Item
Feb. Mar.(r) Apr.
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,409,358(r) 1,407,854 1,408,223(r)
2 Banks' own liabilities 972,870(r) 961,754 976,662(r)
3 Demand deposits 39,611 29,255 30,202
4 Time deposits(2) 165,657(r) 167,001 182,657(r)
5 Other(3) 163,884 161,906 165,626
6 Own foreign
offices(4) 603,718(r) 603,592 598,177(r)
7 Banks' custodial
liabilities(5) 436,488(r) 446,100 431,561(r)
8 U.S. Treasury
bills and
certificates(6) 184,553(r) 194,987 184,159(r)
9 Other negotiable and
readily
transferable
instruments(7) 128,671(r) 127,628 124,207(r)
10 Other 123,264(r) 123,485 123,195(r)
11 Nonmonetary
international and
regional
organizations(8) 20,436 18,729 20,590
12 Banks' own
liabilities 19,513 17,954 19,800
13 Demand deposits 148 71 58
14 Time deposits(2) 9,251 9,741 11,338
15 Other(3) 10,114 8,142 8,404
16 Banks' custodial
liabilities(5) 923 775 790
17 U.S. Treasury
bills and
certificates(6) 704 695 623
18 Other negotiable
and readily
transferable
instruments(7) 213 71 77
19 Other 6 9 90
20 Official
institutions(9) 287,263 301,021 295,331
21 Banks' own
liabilities 79,652 87,187 87,379
22 Demand deposits 3,306 2,381 2,620
23 Time deposits(2) 27,690 30,117 36,587
24 Other(3) 48,656 54,689 48,172
25 Banks' custodial
liabilities(5) 207,611 213,834 207,952
26 U.S. Treasury
bills and
certificates(6) 156,995 164,781 157,607
27 Other negotiable
and readily
transferable
instruments(7) 50,298 48,689 50,118
28 Other 318 364 227
29 Banks(10) 895,134(r) 888,905 892,804(r)
30 Banks' own
liabilities 733,010(r) 724,870 732,303(r)
31 Unaffiliated
foreign banks 129,292 121,278 134,126
32 Demand deposits 12,424 13,930 14,404
33 Time deposits(2) 51,510 49,712 57,240
34 Other(3) 65,358 57,636 62,482
35 Own foreign
offices(4) 603,718(r) 603,592 598,177(r)
36 Banks' custodial
liabilities(5) 162,124(r) 164,035 160,501
37 U.S. Treasury
bills and
certificates(6) 14,584(r) 15,708 13,931
38 Other negotiable
and readily
transferable
instruments(7) 34,629 35,453 33,790
39 Other 112,911 112,874 112,780
40 Other foreigners 206,525(r) 199,199 199,498(r)
41 Banks' own
liabilities 140,695(r) 131,743 137,180(r)
42 Demand deposits 23,733 12,873 13,120
43 Time deposits(2) 77,206(r) 77,431 77,492(r)
44 Other(3) 39,756 41,439 46,568
45 Banks' custodial
liabilities(5) 65,830(r) 67,456 62,318(r)
46 U.S. Treasury
bills and
certificates(6) 12,270 13,803 11,998(r)
47 Other negotiable
and readily
transferable
instruments(7) 43,531(r) 43,415 40,222(r)
48 Other 10,029(r) 10,238 10,098(r)
MEMO
49 Negotiable time
certificates of
deposit in custody
for foreigners 27,266 28,056 26,087
AREA
50 Total, all foreigners 1,409,358(r) 1,407,854(r) 1,408,223(r)
51 Foreign countries 1,388,922(r) 1,389,125(r) 1,387,633(r)
52 Europe 451,020(r) 449,812(r) 433,782(r)
53 Austria 2,997 2,570 2,302
54 Belgium and
Luxembourg 38,783 36,385 33,100
55 Denmark 2,533 3,235 2,601
56 Finland 1,479 2,015 1,744
57 France 49,839 43,666 45,324
58 Germany 23,916 25,176 23,710
59 Greece 4,000 3,216 3,188
60 Italy 5,404(r) 5,277(r) 4,788(r)
61 Netherlands 7,797 7,671(r) 7,277
62 Norway 1,169 1,336 1,197
63 Portugal 2,113 2,006 1,913
64 Russia 7,543 7,360 10,065
65 Spain 12,130 12,518 11,208
66 Sweden 4,792 5,425 5,165
67 Switzerland 61,335 81,934 69,208
68 Turkey 7,714 7,995 8,016
69 United Kingdom 187,346(r) 169,155(r) 169,221(r)
70 Yugoslavia(11) 294 270 265
71 Other Europe and
other former
U.S.S.R.(12) 29,836 32,602 33,490
72 Canada 33,387 36,147 40,562
73 Latin America and
Caribbean 598,391(r) 597,235(r) 606,768(r)
74 Argentina 16,548 17,906 18,487
75 Bahamas 155,720 141,370 159,115
76 Bermuda 9,106 10,108 9,710
77 Brazil 12,785 14,889 10,305
78 British West Indies 314,108(r) 321,144(r) 317,044(r)
79 Chile 6,244 5,752 5,933
80 Colombia 4,304 4,314 4,243
81 Cuba 75 100 77
82 Ecuador 2,035 2,141 2,193
83 Guatemala 1,617 1,706 1,628
84 Jamaica 571 671 670
85 Mexico 32,216 31,393 32,832
86 Netherlands Antilles 3,692 4,528 5,108
87 Panama 3,737 4,157 3,788
88 Peru 1,051 975 1,021
89 Uruguay 2,262 2,377 2,431
90 Venezuela 21,297 22,572 21,140
91 Other 11,023 11,132 11,043
92 Asia 287,318(r) 287,572(r) 288,739(r)
China
93 Mainland 11,659(r) 8,094(r) 8,529(r)
94 Taiwan 11,207(r) 14,637(r) 14,483(r)
95 Hong Kong 24,038 22,672 22,873
96 India 5,405 6,258 5,586
97 Indonesia 7,495 7,837 7,275
98 Israel 7,680 8,338 7,058
99 Japan 145,314 145,074 147,409
100 Korea (South) 12,625 16,425(r) 16,820
101 Philippines 2,540 2,277 2,290
102 Thailand 5,134 4,370 3,628
103 Middle Eastern
oil-exporting
countries(13) 15,811 16,132 19,005
104 Other 38,410(r) 35,458(r) 33,783
105 Africa 8,270 8,614 8,576
106 Egypt 1,703 1,770 1,663
107 Morocco 262 115 106
108 South Africa 698 673 687
109 Zaire 13 13 7
110 Oil-exporting
countries(14) 3,098 3,318 3,558
111 Other 2,496 2,725 2,555
112 Other 10,536(r) 9,745(r) 9,206(r)
113 Australia 9,333(r) 8,667(r) 8,413(r)
114 Other 1,203 1,078 793
115 Nonmonetary
international and
regional
organizations 20,436 18,729(r) 20,590
116 International (15) 17,561 16,674(r) 19,207
117 Latin American
regional(16) 1,858 1,244 518
118 Other regional(17) 1,017 811 865
2000
Item
May June
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,457,629(c) 1,456,560(c)
2 Banks' own liabilities 1,036,677(c) 1,017,559(c)
3 Demand deposits 29,097 30,719(r)
4 Time deposits(2) 176,927 182,787(r)
5 Other(3) 179,090 175,905(r)
6 Own foreign
offices(4) 651,563 628,148
7 Banks' custodial
liabilities(5) 420,952 439,001
8 U.S. Treasury
bills and
certificates(6) 174,310 180,951
9 Other negotiable and
readily
transferable
instruments(7) 123,580 124,670
10 Other 123,062 133,380
11 Nonmonetary
international and
regional
organizations(8) 22,807 21,366
12 Banks' own
liabilities 22,109 20,924
13 Demand deposits 36 34
14 Time deposits(2) 11,393 12,545
15 Other(3) 10,680 8,345
16 Banks' custodial
liabilities(5) 698 442
17 U.S. Treasury
bills and
certificates(6) 582 432
18 Other negotiable
and readily
transferable
instruments(7) 113 10
19 Other 3 0
20 Official
institutions(9) 284,622 293,319
21 Banks' own
liabilities 87,931 88,449
22 Demand deposits 2,781 2,887
23 Time deposits(2) 31,645 33,520
24 Other(3) 53,505 52,042
25 Banks' custodial
liabilities(5) 196,691 204,870
26 U.S. Treasury
bills and
certificates(6) 148,820 157,190
27 Other negotiable
and readily
transferable
instruments(7) 47,734 47,611
28 Other 137 69
29 Banks(10) 941,920 930,663(r)
30 Banks' own
liabilities 781,795 759,887(r)
31 Unaffiliated
foreign banks 130,232 131,739(r)
32 Demand deposits 13,254 14,543(r)
33 Time deposits(2) 55,167 58,095(r)
34 Other(3) 61,811 59,101(r)
35 Own foreign
offices(4) 651,563 628,148
36 Banks' custodial
liabilities(5) 160,125 170,776
37 U.S. Treasury
bills and
certificates(6) 14,179 13,239
38 Other negotiable
and readily
transferable
instruments(7) 33,667 34,657
39 Other 112,279 122,880
40 Other foreigners 208,280 211,212(r)
41 Banks' own
liabilities 144,842 148,299(r)
42 Demand deposits 13,026 13,255(r)
43 Time deposits(2) 78,722 78,627(r)
44 Other(3) 53,094 56,417
45 Banks' custodial
liabilities(5) 63,438 62,913
46 U.S. Treasury
bills and
certificates(6) 10,729 10,090
47 Other negotiable
and readily
transferable
instruments(7) 42,066 42,392
48 Other 10,643 10,431
MEMO
49 Negotiable time
certificates of
deposit in custody
for foreigners 27,238 26,571
AREA
50 Total, all foreigners 1,457,629(c) 1,456,560(c)
51 Foreign countries 1,434,822(c) 1,435,194(r)
52 Europe 435,694 448,745
53 Austria 2,468 2,697
54 Belgium and
Luxembourg 31,656 31,246
55 Denmark 3,629 3,444
56 Finland 1,529 1,380
57 France 43,577 42,105
58 Germany 24,875 28,943
59 Greece 3,030 2,765
60 Italy 7,142 6,676
61 Netherlands 6,823 8,728
62 Norway 963 2,189
63 Portugal 1,964 2,373
64 Russia 11,716 11,884
65 Spain 10,796 9,999
66 Sweden 4,390 5,434
67 Switzerland 63,700 59,561
68 Turkey 7,501 8,472
69 United Kingdom 176,824 187,806
70 Yugoslavia(11) 275 276
71 Other Europe and
other former
U.S.S.R.(12) 32,836 32,767
72 Canada 36,229 37,256
73 Latin America and
Caribbean 663,827 641,087(r)
74 Argentina 16,496 16,540
75 Bahamas 173,589(r) 181,673(r)
76 Bermuda 8,713 8,021
77 Brazil 9,945 10,905
78 British West Indies 360,314(r) 325,537(r)
79 Chile 6,095 6,192
80 Colombia 4,237 4,360
81 Cuba 77 85
82 Ecuador 2,274 2,272
83 Guatemala 1,669 1,649
84 Jamaica 706 674
85 Mexico 33,915 33,937
86 Netherlands Antilles 6,561 7,885
87 Panama 3,764 3,822
88 Peru 1,100 1,125
89 Uruguay 2,520 2,680
90 Venezuela 20,469 22,263
91 Other 11,383 11,467(r)
92 Asia 282,325 290,016(r)
China
93 Mainland 7,824 9,930
94 Taiwan 14,113 13,584
95 Hong Kong 23,951 23,952
96 India 5,703 5,558
97 Indonesia 7,064 7,400
98 Israel 5,541 6,123
99 Japan 148,668 153,662
100 Korea (South) 12,941 10,324
101 Philippines 1,750 1,999
102 Thailand 3,428 3,529
103 Middle Eastern
oil-exporting
countries(13) 18,647 18,538
104 Other 32,695 35,417(r)
105 Africa 8,437 8,718(r)
106 Egypt 1,722 1,962
107 Morocco 122 149
108 South Africa 662 595
109 Zaire 13 6
110 Oil-exporting
countries(14) 3,298 3,405
111 Other 2,620 2,601(r)
112 Other 8,310 9,372
113 Australia 7,586 8,564
114 Other 724 808
115 Nonmonetary
international and
regional
organizations 22,807 21,366
116 International (15) 21,375 20,106
117 Latin American
regional(16) 624 768
118 Other regional(17) 808 492
2000
Item
July Aug.(p)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,486,294(c) 1,449,669(c)
2 Banks' own liabilities 1,056,443(c) 1,018,607(c)
3 Demand deposits 34,914(r) 30,100
4 Time deposits(2) 186,305(r) 184,634
5 Other(3) 178,880(r) 179,510
6 Own foreign
offices(4) 656,344(r) 624,363
7 Banks' custodial
liabilities(5) 429,851 431,062
8 U.S. Treasury
bills and
certificates(6) 182,699 180,925
9 Other negotiable and
readily
transferable
instruments(7) 120,624 119,212
10 Other 126,528 130,925
11 Nonmonetary
international and
regional
organizations(8) 16,689 14,630
12 Banks' own
liabilities 16,294 14,377
13 Demand deposits 30 26
14 Time deposits(2) 10,305 9,062
15 Other(3) 5,959 5,289
16 Banks' custodial
liabilities(5) 395 253
17 U.S. Treasury
bills and
certificates(6) 371 217
18 Other negotiable
and readily
transferable
instruments(7) 21 26
19 Other 3 10
20 Official
institutions(9) 299,775(r) 297,023
21 Banks' own
liabilities 92,794(r) 91,238
22 Demand deposits 4,063(r) 4,573
23 Time deposits(2) 34,463(r) 31,841
24 Other(3) 54,268(r) 54,824
25 Banks' custodial
liabilities(5) 206,981 205,785
26 U.S. Treasury
bills and
certificates(6) 160,093 159,781
27 Other negotiable
and readily
transferable
instruments(7) 46,363 45,644
28 Other 525 360
29 Banks(10) 960,487(r) 925,495
30 Banks' own
liabilities 797,353(r) 758,407
31 Unaffiliated
foreign banks 141,009(r) 134,044
32 Demand deposits 17,508(r) 11,961
33 Time deposits(2) 60,703 62,841
34 Other(3) 62,798(r) 59,242
35 Own foreign
offices(4) 656,344(r) 624,363
36 Banks' custodial
liabilities(5) 163,134 167,088
37 U.S. Treasury
bills and
certificates(6) 12,657 12,251
38 Other negotiable
and readily
transferable
instruments(7) 34,018 33,893
39 Other 116,459 120,944
40 Other foreigners 209,343(r) 212,521
41 Banks' own
liabilities 150,002(r) 154,585
42 Demand deposits 13,313(r) 13,540
43 Time deposits(2) 80,834(r) 80,890
44 Other(3) 55,855(r) 60,155
45 Banks' custodial
liabilities(5) 59,381 57,936
46 U.S. Treasury
bills and
certificates(6) 9,579 8,676
47 Other negotiable
and readily
transferable
instruments(7) 40,222 39,649
48 Other 9,541 9,611
MEMO
49 Negotiable time
certificates of
deposit in custody
for foreigners 26,186 25,911
AREA
50 Total, all foreigners 1,486,294(c) 1,449,669(c)
51 Foreign countries 1,469,645(c) 1,435,039(c)
52 Europe 481,999 456,986
53 Austria 3,226(r) 2,772
54 Belgium and
Luxembourg 33,372 31,381
55 Denmark 3,522 3,692
56 Finland 1,745 1,612
57 France 42,386(r) 42,729
58 Germany 26,489(r) 25,895
59 Greece 2,916(r) 3,455
60 Italy 5,704(r) 5,584
61 Netherlands 12,339 13,112
62 Norway 2,374 1,671
63 Portugal 2,172 2,128
64 Russia 14,965(r) 14,257
65 Spain 8,878 8,864
66 Sweden 5,091 5,994
67 Switzerland 78,197 77,570
68 Turkey 8,341(r) 7,999
69 United Kingdom 197,311(r) 175,739
70 Yugoslavia(11) 277(r) 277
71 Other Europe and
other former
U.S.S.R.(12) 32,694(r) 32,255
72 Canada 37,253 33,735
73 Latin America and
Caribbean 644,215(r) 632,823
74 Argentina 19,099(r) 17,560
75 Bahamas 170,544(r) 176,140
76 Bermuda 7,074(r) 8,157
77 Brazil 11,919(r) 12,337
78 British West Indies 340,388(r) 321,461
79 Chile 5,439 5,296
80 Colombia 4,622 4,732
81 Cuba 122(r) 91
82 Ecuador 2,218(r) 2,077
83 Guatemala 1,717(r) 1,638
84 Jamaica 709(r) 900
85 Mexico 33,379(r) 33,290
86 Netherlands Antilles 7,165 6,370
87 Panama 3,349(r) 3,557
88 Peru 1,095(r) 1,064
89 Uruguay 2,160 2,526
90 Venezuela 21,457(r) 23,889
91 Other 11,759(r) 11,738
92 Asia 285,084(r) 291,056
China
93 Mainland 9,383 11,796
94 Taiwan 13,156 14,675
95 Hong Kong 25,693 26,760
96 India 5,689 5,497
97 Indonesia 7,472 7,430
98 Israel 5,793 5,950
99 Japan 147,553(r) 146,378
100 Korea (South) 8,624 8,822
101 Philippines 1,649 1,679
102 Thailand 3,900 3,504
103 Middle Eastern
oil-exporting
countries(13) 22,126(r) 21,918
104 Other 34,046 36,647
105 Africa 9,738 9,613
106 Egypt 1,778 1,621
107 Morocco 118 109
108 South Africa 793 710
109 Zaire 5 7
110 Oil-exporting
countries(14) 4,258 4,469
111 Other 2,786 2,697
112 Other 11,356 10,826
113 Australia 10,347 9,824
114 Other 1,009 1,002
115 Nonmonetary
international and
regional
organizations 16,689 14,630
116 International (15) 15,295 13,118
117 Latin American
regional(16) 786 1,146
118 Other regional(17) 608 366
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers. Excludes bonds and notes of
maturities longer than one year.
(2.) Excludes negotiable time certificates of deposit, which are
included in "Other negotiable and readily transferable instruments."
(3.) Includes borrowing under repurchase agreements.
(4.) For U.S. banks, includes amounts owed to own foreign branches and
foreign subsidiaries consolidated in quarterly Consolidated Reports of
Condition filed with bank regulatory agencies. For agencies, branches,
and majority-owned subsidiaries of foreign banks, consists principally
of amounts owed to the head office or parent foreign bank, and to
foreign branches, agencies, or wholly owned subsidiaries of the head
office or parent foreign bank.
(5.) Financial claims on residents of the United States, other than
long-term securities, held by or through reporting banks for foreign
customers.
(6.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(7.) Principally bankers acceptances, commercial paper, and negotiable
time certificates of deposit.
(8.) Principally the International Bank for Reconstruction and
Development, the Inter-American Development Bank, and the Asian
Development Bank. Excludes "holdings of dollars" of the International
Monetary Fund.
(9.) Foreign central banks, foreign central governments, and the Bank
for International Settlements.
(10.) Excludes central banks, which are included in "Official
institutions."
(11.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(12.) Includes the Bank for International Settlements. Since December
1992, has included all parts of the former U.S.S.R. (except Russia),
and Bosnia, Croatia, and Slovenia.
(13.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(14.) Comprises Algeria, Gabon, Libya, and Nigeria.
(15.) Principally the International Bank for Reconstruction and
Development. Excludes "holdings of dollars" of the International
Monetary Fund.
(16.) Principally the Inter-American Development Bank.
(17.) Asian, African, Middle Eastern, and European regional
organizations, except the Bank for International Settlements, which is
included in "Other Europe."
3.18 BANKS' OWN CLAIMS ON FOREIGNERS Reported by Banks in the United
States(1)
Payable in U.S. Dollars
Millions of dollars, end of period
2000
Area or country
1997 1998 1999 Feb. Mar.
1 Total, all
foreigners 708,225 734,995 795,377 750,972 813,890
2 Foreign countries 705,762 731,378 790,814 746,305 809,581
3 Europe 199,880 233,321 315,905 314,504 361,470
4 Austria 1,354 1,043 2,643 2,471 2,493
5 Belgium and
Luxembourg 6,641 7,187 10,193 9,777 8,022
6 Denmark 980 2,383 1,669 1,743 1,625
7 Finland 1,233 1,070 2,020 1,846 2,093
8 France 16,239 15,251 29,142 28,303 28,127
9 Germany 12,676 15,923 29,205 28,890 35,371
10 Greece 402 575 806 683 842
11 Italy 6,230 7,284 8,496 6,785 7,048
12 Netherlands 6,141 5,697 11,810 11,484 14,089
13 Norway 555 827 1,000 1,146 1,132
14 Portugal 777 669 1,571 1,155 1,043
15 Russia 1,248 789 713 743 709
16 Spain 2,942 5,735 3,796 4,339 3,187
17 Sweden 1,854 4,223 3,264 5,382 7,492
18 Switzerland 28,846 46,874 79,158 70,250 111,544
19 Turkey 1,558 1,982 2,617 3,031 3,053
20 United Kingdom 103,143 106,349 120,190 128,252 125,162
21 Yugoslavia(2) 52 53 50 50 50
22 Other Europe
and other
former
U.S.S.R.(3) 7,009 9,407 7,562 8,174 8,388
23 Canada 27,189 47,037 37,206 38,541 42,686
24 Latin America and
Caribbean 343,730 342,654 353,416 314,839 323,816
25 Argentina 8,924 9,552 10,167 10,095 9,845
26 Bahamas 89,379 96,455 99,324 68,914 74,018
27 Bermuda 8,782 5,011 8,007 11,771 7,441
28 Brazil 21,696 16,184 15,706 15,382 14,981
29 British West
Indies 145,471 153,749 167,189 156,776 166,284
30 Chile 7,913 8,250 6,607 6,224 6,511
31 Colombia 6,945 6,507 4,524 4,176 3,937
32 Cuba 0 0 0 0 0
33 Ecuador 1,311 1,400 760 730 688
34 Guatemala 886 1,127 1,135 1,170 1,181
35 Jamaica 424 239 295 332 328
36 Mexico 19,428 21,212 17,899 17,489 16,998
37 Netherlands
Antilles 17,838 6,779 5,982 6,341 6,385
38 Panama 4,364 3,584 3,387 2,972 2,912
39 Peru 3,491 3,275 2,529 2,414 2,223
40 Uruguay 629 1,126 801 777 761
41 Venezuela 2,129 3,089 3,494 3,524 3,580
42 Other 4,120 5,115 5,610 5,752 5,743
43 Asia 125,092 98,607 74,914 69,074 72,692
China
44 Mainland 1,579 1,261 2,090 2,726 3,161
45 Taiwan 922 1,041 1,390 1,501 925
46 Hong Kong 13,991 9,080 5,893 4,453 4,519
47 India 2,200 1,440 1,738 1,802 1,749
48 Indonesia 2,651 1,942 1,776 1,743 1,817
49 Israel 768 1,166 1,875 1,832 3,412
50 Japan 59,549 46,713 28,636 25,559 27,310
51 Korea (South) 18,162 8,289 9,262 12,066 11,466
52 Philippines 1,689 1,465 1,410 1,058 1,698
53 Thailand 2,259 1,807 1,515 1,275 1,154
54 Middle Eastern
oil-exporting
countries(4) 10,790 16,130 14,252 10,947 11,612
55 Other 10,532 8,273 5,077 4,112 3,869
56 Africa 3,530 3,122 2,268 2,453 1,991
57 Egypt 247 257 258 207 243
58 Morocco 511 372 352 313 279
59 South Africa 805 643 622 889 428
60 Zaire 0 0 24 0 0
61 Oil-exporting
countries(5) 1,212 936 276 228 198
62 Other 755 914 736 816 843
63 Other 6,341 6,637 7,105 6,894 6,926
64 Australia 5,300 6,173 6,824 6,682 6,674
65 Other 1,041 464 281 212 252
66 Nonmonetary
international
and regional
organizations(6) 2,463 3,617 4,563 4,667 4,309
2000
Area or country
Apr. May June July Aug.(p)
1 Total, all
foreigners 815,083 820,782 825,898 827,987 800,707
2 Foreign countries 810,081 816,439 820,887 824,111 796,930
3 Europe 350,067 359,895 357,243 361,814 331,612
4 Austria 2,429 2,242 2,148 2,646 1,985
5 Belgium and
Luxembourg 7,939 5,959 6,393 6,261 5,814
6 Denmark 1,940 2,001 3,440 3,349 3,271
7 Finland 2,087 2,414 2,650 2,946 2,750
8 France 30,958 35,217 28,633 25,848 23,232
9 Germany 33,991 31,521 33,585 30,454 31,800
10 Greece 864 828 837 754 557
11 Italy 7,034 6,565 7,724 6,483 7,393
12 Netherlands 13,932 14,377 15,668 13,155 14,998
13 Norway 1,499 1,832 1,935 2,404 1,451
14 Portugal 1,085 1,268 1,424 1,454 1,273
15 Russia 709 715 744 718 666
16 Spain 3,217 3,126 3,844 4,768 3,521
17 Sweden 8,100 7,112 8,744 8,460 8,811
18 Switzerland 97,688 105,573 86,284 94,549 87,172
19 Turkey 3,148 3,269 3,189 2,736 4,413
20 United Kingdom 125,935 128,259 141,769 147,138 125,897
21 Yugoslavia(2) 51 49 49 69 49
22 Other Europe
and other
former
U.S.S.R.(3) 7,461 7,568 8,183 7,622 6,559
23 Canada 43,300 45,481 42,591 40,383 37,872
24 Latin America and
Caribbean 328,769 321,219 328,629 329,170 338,811
25 Argentina 9,732 9,507 9,386 9,428 10,549
26 Bahamas 72,312 71,459 80,393 73,275 78,896
27 Bermuda 5,685 6,478 6,285 6,906 4,684
28 Brazil 16,210 16,376 16,544 16,902 18,555
29 British West
Indies 173,907 165,920 164,969 172,262 176,032
30 Chile 6,447 6,399 6,213 6,072 5,985
31 Colombia 3,907 4,032 3,796 3,907 3,952
32 Cuba 0 0 0 0 3
33 Ecuador 662 640 613 610 607
34 Guatemala 1,252 1,245 1,235 1,215 1,277
35 Jamaica 316 300 291 299 305
36 Mexico 16,944 16,771 17,066 16,432 16,840
37 Netherlands
Antilles 6,388 6,579 6,502 6,652 5,804
38 Panama 2,844 2,984 3,063 2,981 2,882
39 Peru 2,356 2,515 2,458 2,488 2,487
40 Uruguay 714 708 620 649 777
41 Venezuela 3,474 3,595 3,471 3,357 3,410
42 Other 5,619 5,711 5,724 5,735 5,766
43 Asia 78,257 80,221 82,415 83,137 79,013
China
44 Mainland 4,532 2,611 1,688 1,822 1,596
45 Taiwan 1,080 1,732 1,339 926 794
46 Hong Kong 4,546 4,573 4,266 5,782 5,408
47 India 1,786 1,941 1,905 2,013 2,037
48 Indonesia 1,821 1,819 1,856 1,940 1,880
49 Israel 3,293 2,857 1,610 1,982 2,261
50 Japan 30,381 31,689 33,256 31,207 32,494
51 Korea (South) 12,209 14,018 15,866 18,924 16,931
52 Philippines 1,714 1,884 1,865 1,802 1,483
53 Thailand 1,081 1,137 1,255 1,051 1,059
54 Middle Eastern
oil-exporting
countries(4) 10,765 11,666 12,128 10,366 10,006
55 Other 5,049 4,294 5,381 5,322 3,064
56 Africa 2,054 2,109 2,494 2,517 2,227
57 Egypt 206 218 230 217 186
58 Morocco 300 271 259 272 247
59 South Africa 360 341 772 423 370
60 Zaire 0 0 0 0 0
61 Oil-exporting
countries(5) 394 508 430 751 866
62 Other 794 771 803 854 558
63 Other 7,634 7,514 7,515 7,090 7,395
64 Australia 7,225 7,139 7,240 6,890 7,036
65 Other 409 375 275 200 359
66 Nonmonetary
international
and regional
organizations(6) 5,002 4,343 5,011 3,876 3,777
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(3.) Includes the Bank for International Settlements. Since December
1992, has included all parts of the former U.S.S.R. (except Russia),
and Bosnia, Croatia, and Slovenia.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(5.) Comprises Algeria, Gabon, Libya, and Nigeria.
(6.) Excludes the Bank for International Settlements, which is included
in "Other Europe."
3.19 BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Reported by Banks in the United States(1)
Payable in U.S. Dollars
Millions of dollars, end of period
Type of claim 1997 1998 1999
1 Total 852,852 875,891 947,176
2 Banks' claims 708,225 734,995 795,377
3 Foreign public
borrowers 20,581 23,542 35,090
4 Own foreign offices(2) 431,685 484,535 528,397
5 Unaffiliated foreign
banks 109,230 106,206 101,227
6 Deposits 30,995 27,230 34,360
7 Other 78,235 78,976 66,867
8 All other foreigners 146,729 120,712 130,663
9 Claims of banks'
domestic customers(3) 144,627 140,896 151,799
10 Deposits 73,110 79,363 88,006
11 Negotiable and readily
transferable
instruments(4) 53,967 47,914 51,161
12 Outstanding collections
and other claims 17,550 13,619 12,632
MEMO
13 Customer liability on
acceptances 9,624 4,520 4,553
14 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States(5) 33,816 39,978 31,125
2000
Type of claim
Feb. Mar. Apr. May
1 Total ... 1,010,415 ... ...
2 Banks' claims 750,972 813,890 815,083 820,782
3 Foreign public
borrowers 36,541 36,036 37,300 43,092
4 Own foreign offices(2) 496,771 552,218 557,339 549,165
5 Unaffiliated foreign
banks 87,666 96,030 91,849 92,280
6 Deposits 21,275 24,361 22,399 24,769
7 Other 66,391 71,669 69,450 67,511
8 All other foreigners 129,994 129,606 128,595 136,245
9 Claims of banks'
domestic customers(3) ... 196,525 ... ...
10 Deposits ... 128,490 ... ...
11 Negotiable and readily
transferable
instruments(4) ... 56,032 ... ...
12 Outstanding collections
and other claims ... 12,003 ... ...
MEMO
13 Customer liability on
acceptances ... 4,464 ... ...
14 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States(5) 48,225 53,657 45,383 44,868
2000
Type of claim
June July Aug.(p)
1 Total 1,010,005 ... ...
2 Banks' claims 825,898 827,987 800,707
3 Foreign public
borrowers 41,461 48,499 41,406
4 Own foreign offices(2) 553,262 553,133 544,118
5 Unaffiliated foreign
banks 92,911 89,236 82,469
6 Deposits 22,373 21,861 21,674
7 Other 70,538 67,375 60,795
8 All other foreigners 138,264 137,119 132,714
9 Claims of banks'
domestic customers(3) 184,107 ... ...
10 Deposits 106,055 ... ...
11 Negotiable and readily
transferable
instruments(4) 62,975 ... ...
12 Outstanding collections
and other claims 15,077 ... ...
MEMO
13 Customer liability on
acceptances 5,082 ... ...
14 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States(5) 44,139 46,337(r) 55,164
(1.) For banks' claims, data are monthly; for claims of banks' domestic
customers, data are for quarter ending with month indicated.
Reporting banks include all types of depository institution as well as
some brokers and dealers.
(2.) For U.S. banks, includes amounts due from own foreign branches and
foreign subsidiaries consolidated in quarterly Consolidated Reports of
Condition filed with bank regulatory agencies. For agencies, branches,
and majority-owned subsidiaries of foreign banks, consists principally
of amounts due from the head office or parent foreign bank, and from
foreign branches, agencies, or wholly owned subsidiaries of the head
office or parent foreign bank.
(3.) Assets held by reporting banks in the accounts of their domestic
customers.
(4.) Principally negotiable time certificates of deposit, bankers
acceptances, and commercial paper.
(5.) Includes demand and time deposits and negotiable and nonnegotiable
certificates of deposit denominated in U.S. dollars issued by banks
abroad.
3.20 BANKS' OWN CLAIMS ON UNAFFILIATED FOREIGNERS Reported by Banks
in the United States(1)
Payable in U.S. Dollars
Millions of dollars, end of period
Maturity, by borrower 1996 1997 1998
and area(2)
1 Total 258,106 276,550 250,418
By borrower
2 Maturity of one year
or less 211,859 205,781 186,526
3 Foreign public borrowers 15,411 12,081 13,671
4 All other foreigners 196,448 193,700 172,855
5 Maturity of more than
one year 46,247 70,769 63,892
6 Foreign public borrowers 6,790 8,499 9,839
7 All other foreigners 39,457 62,270 54,053
By area
Maturity of one year
or less
8 Europe 55,690 58,294 68,679
9 Canada 8,339 9,917 10,968
10 Latin America and
Caribbean 103,254 97,207 81,766
11 Asia 38,078 33,964 18,007
12 Africa 1,316 2,211 1,835
13 All other(3) 5,182 4,188 5,271
Maturity of more than
one year
14 Europe 6,965 13,240 14,923
15 Canada 2,645 2,525 3,140
16 Latin America and
Caribbean 24,943 42,049 33,442
17 Asia 9,392 10,235 10,018
18 Africa 1,361 1,236 1,232
19 All other(3) 941 1,484 1,137
1999 2000
Maturity, by borrower
and area(2)
Sept. Dec. Mar. June
1 Total 270,098 266,309 261,056 273,022
By borrower
2 Maturity of one year
or less 196,772 187,383 180,453 187,028
3 Foreign public borrowers 22,526 22,811 23,436 25,289
4 All other foreigners 174,246 164,572 157,017 161,739
5 Maturity of more than
one year 73,326 78,926 80,603 85,994
6 Foreign public borrowers 12,162 12,013 12,802 15,484
7 All other foreigners 61,164 66,913 67,801 70,510
By area
Maturity of one year
or less
8 Europe 82,566 80,842 79,639 76,366
9 Canada 8,544 7,859 8,408 7,353
10 Latin America and
Caribbean 78,063 68,987 62,325 66,065
11 Asia 20,859 21,802 23,002 29,231
12 Africa 1,119 1,122 957 1,569
13 All other(3) 5,621 6,771 6,122 6,444
Maturity of more than
one year
14 Europe 18,619 22,951 23,951 25,116
15 Canada 3,193 3,192 3,127 3,323
16 Latin America and
Caribbean 38,154 38,789 39,194 41,758
17 Asia 10,641 11,257 11,612 12,446
18 Africa 1,087 1,065 965 924
19 All other(3) 1,632 1,672 1,754 2,427
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Maturity is time remaining until maturity.
(3.) Includes nonmonetary international and regional organizations.
3.21 CLAIMS ON FOREIGN COUNTRIES Held by U.S. and Foreign Offices of
U.S. Banks(1)
Billions of dollars, end of period
1998
Area or country 1996 1997
June Sept. Dec.
1 Total 645.8 721.8 1017.2 1071.9 1051.6
2 G-10 countries and
Switzerland 228.3 242.8 273.9 240.0 217.7
3 Belgium and Luxembourg 11.7 11.0 14.0 11.7 10.7
4 France 16.6 15.4 21.7 20.3 18.4
5 Germany 29.8 28.6 30.5 31.4 30.9
6 Italy 16.0 15.5 21.1 18.5 11.5
7 Netherlands 4.0 6.2 8.6 8.4 7.8
8 Sweden 2.6 3.3 3.1 2.1 2.3
9 Switzerland 5.3 7.2 7.0 7.6 8.5
10 United Kingdom 104.7 113.4 125.9 100.1 85.4
11 Canada 14.0 13.7 16.7 15.9 16.8
12 Japan 23.7 28.6 25.3 23.9 25.4
13 Other industrialized
countries 66.1 65.5 78.7 78.5 69.0
14 Austria 1.1 1.5 1.9 2.1 1.4
15 Denmark 1.5 2.4 2.2 3.0 2.2
16 Finland .8 1.3 1.4 1.6 1.4
17 Greece 6.7 5.1 5.8 5.8 5.9
18 Norway 8.0 3.6 3.4 3.2 3.2
19 Portugal .9 .9 1.4 1.1 1.4
20 Spain 13.3 12.6 17.5 19.5 13.7
21 Turkey 2.7 4.5 6.5 5.2 4.8
22 Other Western Europe 4.9 8.3 9.9 10.4 10.4
23 South Africa 2.0 2.2 6.9 5.4 4.4
24 Australia 24.0 23.1 21.8 21.4 20.3
25 OPEC(2) 19.8 26.0 25.5 26.0 27.1
26 Ecuador 1.1 1.3 1.2 1.2 1.3
27 Venezuela 2.4 2.5 3.3 3.1 3.2
28 Indonesia 5.2 6.7 5.1 4.7 4.7
29 Middle East countries 10.7 14.4 15.6 16.1 17.0
30 African countries .4 1.2 .3 .8 1.0
31 Non-OPEC developing
countries 130.3 139.2 146.1 140.4 143.4
Latin America
32 Argentina 14.3 18.4 20.9 22.9 23.1
33 Brazil 20.7 28.6 30.3 24.0 24.7
34 Chile 7.0 8.7 9.1 8.5 8.3
35 Colombia 4.1 3.4 3.6 3.4 3.2
36 Mexico 16.2 17.4 18.1 18.7 18.9
37 Peru 1.6 2.0 2.2 2.2 2.2
38 Other 3.3 4.1 4.4 4.6 5.4
Asia
China
39 Mainland 2.5 3.2 3.9 2.8 3.0
40 Taiwan 10.3 9.5 11.8 12.5 13.3
41 India 4.3 4.9 4.9 5.3 5.5
42 Israel .5 .7 .9 .9 1.1
43 Korea (South) 21.5 15.6 14.6 13.1 13.7
44 Malaysia 6.0 5.1 4.7 5.0 5.6
45 Philippines 5.8 5.7 5.4 4.7 5.1
46 Thailand 5.7 5.4 5.0 5.3 4.7
47 Other Asia 4.1 4.3 3.7 3.1 2.9
Africa
48 Egypt .7 .9 1.5 1.7 1.3
49 Morocco .7 .6 .6 .5 .5
50 Zaire .1 .0 .0 .0 .0
51 Other Africa(3) .9 .8 .8 1.1 1.0
52 Eastern Europe 6.9 9.1 11.3 6.3 5.5
53 Russia(4) 3.7 5.1 6.9 2.8 2.2
54 Other 3.2 4.0 4.4 3.5 3.3
55 Offshore banking centers 135.1 140.2 130.0 121.0 93.9
56 Bahamas 20.5 24.2 28.6 30.7 35.4
57 Bermuda 4.5 9.8 9.4 10.4 4.6
58 Cayman Islands and
other British West
Indies 37.2 43.4 34.3 27.8 12.8
59 Netherlands Antilles 26.1 14.6 10.5 6.0 2.6
60 Panama(5) 2.0 3.1 3.3 4.0 3.9
61 Lebanon .1 .1 .1 .2 .1
62 Hong Kong, China 27.9 32.2 30.0 30.6 23.3
63 Singapore 16.7 12.7 13.6 11.1 11.1
64 Other(6) .1 .1 .2 .2 .2
55 Miscellaneous and
unallocated(7) 59.6 99.1 351.7 459.9 495.1
1999
Area or country
Mar. June Sept. Dec.
1 Total 992.8 939.4 936.8(r) 936.7
2 G-10 countries and
Switzerland 208.7 223.1 206.4(r) 236.5
3 Belgium and Luxembourg 15.6 16.1 15.7 14.3
4 France 21.6 20.4 19.9 29.0
5 Germany 34.7 32.1 37.4 38.7
6 Italy 17.8 16.4 15.0 18.1
7 Netherlands 10.7 13.3 10.6 12.3
8 Sweden 4.0 2.6 3.6 3.0
9 Switzerland 7.8 8.2 8.8 10.3
10 United Kingdom 56.1 74.3 51.9(r) 72.4
11 Canada 15.9 17.1 17.9(r) 16.3
12 Japan 24.6 22.6 25.6 22.0
13 Other industrialized
countries 80.1 79.7 71.7 68.4
14 Austria 2.8 2.8 3.0 3.5
15 Denmark 3.4 2.9 2.1 2.6
16 Finland 1.5 .9 .9 .9
17 Greece 6.5 5.9 6.6 6.0
18 Norway 3.1 3.0 3.8 3.3
19 Portugal 1.4 1.2 1.2 1.0
20 Spain 15.7 16.6 15.1 12.1
21 Turkey 5.2 4.9 4.7 4.8
22 Other Western Europe 10.2 10.2 9.2 6.8
23 South Africa 4.8 4.7 4.0 3.8
24 Australia 25.4 26.6 21.1 23.5
25 OPEC(2) 26.2 26.1 30.1 31.4
26 Ecuador 1.2 1.1 .9 .8
27 Venezuela 3.5 3.2 3.0 2.8
28 Indonesia 4.5 5.0 4.4 4.2
29 Middle East countries 16.7 16.5 21.4 23.0
30 African countries .4 .4 .5 .5
31 Non-OPEC developing
countries 146.7 148.6 142.5 147.3
Latin America
32 Argentina 24.3 22.8 22.1 22.4
33 Brazil 24.2 25.1 22.1 26.4
34 Chile 8.6 8.2 7.7 7.4
35 Colombia 3.3 3.1 2.7 2.5
36 Mexico 19.7 18.5 19.4 18.7
37 Peru 2.2 2.1 1.8 1.7
38 Other 5.3 5.5 5.5 5.9
Asia
China
39 Mainland 5.0 5.3 3.3 3.6
40 Taiwan 11.8 12.6 12.3 12.0
41 India 5.5 6.7 7.0 7.7
42 Israel 1.1 2.0 1.0 1.8
43 Korea (South) 13.7 15.3 16.0 15.1
44 Malaysia 5.9 6.0 6.1 6.1
45 Philippines 5.4 5.7 5.8 6.2
46 Thailand 4.5 4.2 4.0 4.1
47 Other Asia 3.0 2.8 2.8 2.9
Africa
48 Egypt 1.4 1.4 1.3 1.4
49 Morocco .5 .5 .5 .4
50 Zaire .0 .0 .0 .0
51 Other Africa(3) 1.2 1.0 1.0 1.0
52 Eastern Europe 7.1 5.8 5.4 5.2
53 Russia(4) 2.3 2.1 2.0 1.6
54 Other 4.8 3.7 3.4 3.6
55 Offshore banking centers 93.6 75.9 89.4(r) 60.1
56 Bahamas 32.6 20.4 28.6(r) 13.9
57 Bermuda 3.9 5.7 8.2 8.0
58 Cayman Islands and
other British West
Indies 13.9 7.2 6.3 1.3
59 Netherlands Antilles 2.7 1.3 9.1 1.7
60 Panama(5) 3.9 3.9 3.9 3.9
61 Lebanon .1 .1 .2 .1
62 Hong Kong, China 22.8 22.0 22.4 21.0
63 Singapore 13.5 15.2 10.6 10.1
64 Other(6) .2 .1 .2 .1
55 Miscellaneous and
unallocated(7) 430.4 380.2 391.2 387.9
2000
Area or country
Mar. June
1 Total 952.7 991.0
2 G-10 countries and
Switzerland 284.1 323.3
3 Belgium and Luxembourg 14.2 13.8
4 France 27.1 32.6
5 Germany 37.3 31.5
6 Italy 20.0 20.0
7 Netherlands 17.1 16.1
8 Sweden 3.9 3.5
9 Switzerland 10.1 13.8
10 United Kingdom 113.5 148.3
11 Canada 17.5 18.2
12 Japan 23.5 25.4
13 Other industrialized
countries 62.8 76.2
14 Austria 2.6 2.8
15 Denmark 1.5 1.2
16 Finland .8 1.3
17 Greece 5.7 6.8
18 Norway 3.0 4.6
19 Portugal 1.0 2.0
20 Spain 11.3 12.2
21 Turkey 5.1 5.6
22 Other Western Europe 8.3 8.8
23 South Africa 4.8 4.6
24 Australia 18.6 26.3
25 OPEC(2) 28.9 32.3
26 Ecuador .7 .7
27 Venezuela 3.0 2.9
28 Indonesia 3.9 4.1
29 Middle East countries 21.1 24.0
30 African countries .2 .7
31 Non-OPEC developing
countries 152.5 155.6
Latin America
32 Argentina 21.3 20.3
33 Brazil 26.9 27.0
34 Chile 8.2 8.1
35 Colombia 2.5 2.4
36 Mexico 18.3 20.5
37 Peru 1.9 2.1
38 Other 6.5 6.7
Asia
China
39 Mainland 4.6 3.8
40 Taiwan 12.6 12.6
41 India 7.9 8.2
42 Israel 3.3 1.5
43 Korea (South) 17.4 21.2
44 Malaysia 6.5 6.8
45 Philippines 5.3 5.3
46 Thailand 4.3 4.0
47 Other Asia 2.6 2.5
Africa
48 Egypt 1.4 1.3
49 Morocco .3 .3
50 Zaire .0 .0
51 Other Africa(3) .9 .9
52 Eastern Europe 6.3 9.4
53 Russia(4) 1.7 1.5
54 Other 4.7 7.9
55 Offshore banking centers 42.0 52.4
56 Bahamas 2.4 .5
57 Bermuda 7.3 6.3
58 Cayman Islands and
other British West
Indies .0 5.1
59 Netherlands Antilles 2.5 2.6
60 Panama(5) 3.4 3.3
61 Lebanon .1 .1
62 Hong Kong, China 22.2 20.7
63 Singapore 4.1 13.6
64 Other(6) .1 .1
55 Miscellaneous and
unallocated(7) 376.1 341.9
(1.) The banking offices covered by these data include U.S. offices and
foreign branches of U.S. banks, including U.S. banks that are
subsidiaries of foreign banks. Offices not covered include U.S.
agencies and branches of foreign banks. Beginning March 1994, the data
include large foreign subsidiaries of U.S. banks. The data also include
other types of U.S. depository institutions as well as some types of
brokers and dealers. To eliminate duplication, the data are adjusted to
exclude the claims on foreign branches held by a U.S. office or another
foreign branch of the same banking institution.
These data are on a gross claims basis and do not necessarily reflect
the ultimate country risk or exposure of U.S. banks. More complete data
on the country risk exposure of U.S. banks are available in the
quarterly Country Exposure Lending Survey published by the Federal
Financial Institutions Examination Council.
(2.) Organization of Petroleum Exporting Countries, shown individually;
other members of OPEC (Algeria, Gabon, Iran, Iraq, Kuwait, Libya,
Nigeria, Qatar, Saudi Arabia, and United Arab Emirates); and Bahrain
and Oman (not formally members of OPEC).
(3.) Excludes Liberia. Beginning March 1994 includes Namibia.
(4.) As of December 1992, excludes other republics of the former Soviet
Union.
(5.) Includes Canal Zone.
(6.) Foreign branch claims only.
(7.) Includes New Zealand, Liberia, and international and regional
organizations.
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
Type of liability, and area 1996 1997 1998
or country
1 Total 61,782 57,382 46,570
2 Payable in dollars 39,542 41,543 36,668
3 Payable in foreign currencies 22,240 15,839 9,902
By type
4 Financial liabilities 33,049 26,877 19,255
5 Payable in dollars 11,913 12,630 10,371
6 Payable in foreign currencies 21,136 14,247 8,884
7 Commercial liabilities 28,733 30,505 27,315
8 Trade payables 12,720 10,904 10,978
9 Advance receipts and other
liabilities 16,013 19,601 16,337
10 Payable in dollars 27,629 28,913 26,297
11 Payable in foreign currencies 1,104 1,592 1,018
By area or country
Financial liabilities
12 Europe 23,179 18,027 12,589
13 Belgium and Luxembourg 632 186 79
14 France 1,091 1,425 1,097
15 Germany 1,834 1,958 2,063
16 Netherlands 556 494 1,406
17 Switzerland 699 561 155
18 United Kingdom 17,161 11,667 5,980
19 Canada 1,401 2,374 693
20 Latin America and Caribbean 1,668 1,386 1,495
21 Bahamas 236 141 7
22 Bermuda 50 229 101
23 Brazil 78 143 152
24 British West Indies 1,030 604 957
25 Mexico 17 26 59
26 Venezuela 1 1 2
27 Asia 6,423 4,387 3,785
28 Japan 5,869 4,102 3,612
29 Middle Eastern
oil-exporting
countries(1) 25 27 0
30 Africa 38 60 28
31 Oil-exporting countries(2) 0 0 0
32 All other(3) 340 643 665
Commercial liabilities
33 Europe 9,767 10,228 10,030
34 Belgium and Luxembourg 479 666 278
35 France 680 764 920
36 Germany 1,002 1,274 1,392
37 Netherlands 766 439 429
38 Switzerland 624 375 499
39 United Kingdom 4,303 4,086 3,697
40 Canada 1,090 1,175 1,390
41 Latin America and Caribbean 2,574 2,176 1,618
42 Bahamas 63 16 14
43 Bermuda 297 203 198
44 Brazil 196 220 152
45 British West Indies 14 12 10
46 Mexico 665 565 347
47 Venezuela 328 261 202
48 Asia 13,422 14,966 12,342
49 Japan 4,614 4,500 3,827
50 Middle Eastern
oil-exporting
countries(1) 2,168 3,111 2,852
51 Africa 1,040 874 794
52 Oil-exporting countries(2) 532 408 393
53 Other(3) 840 1,086 1,141
1999
Type of liability, and area
or country
Mar. June Sept. Dec.
1 Total 46,663 49,337 52,979 53,044
2 Payable in dollars 34,030 36,032 36,296 37,605
3 Payable in foreign currencies 12,633 13,305 16,683 15,415
By type
4 Financial liabilities 22,458 25,058 27,422 27,980
5 Payable in dollars 11,225 13,205 12,231 13,883
6 Payable in foreign currencies 11,233 11,853 15,191 14,097
7 Commercial liabilities 24,205 24,279 25,557 25,064
8 Trade payables 9,999 10,935 12,651 12,857
9 Advance receipts and other
liabilities 14,206 13,344 12,906 12,207
10 Payable in dollars 22,805 22,827 24,065 23,722
11 Payable in foreign currencies 1,400 1,452 1,492 1,318
By area or country
Financial liabilities
12 Europe 16,098 19,578 21,695 23,241
13 Belgium and Luxembourg 50 70 50 31
14 France 1,178 1,287 1,675 1,659
15 Germany 1,906 1,959 1,712 1,974
16 Netherlands 1,337 2,104 2,066 1,996
17 Switzerland 141 143 133 147
18 United Kingdom 9,729 13,097 15,096 16,521
19 Canada 781 320 344 284
20 Latin America and Caribbean 1,528 1,369 1,180 892
21 Bahamas 1 1 1 1
22 Bermuda 78 52 26 5
23 Brazil 137 131 122 126
24 British West Indies 1,064 944 786 492
25 Mexico 22 19 28 25
26 Venezuela 2 1 0 0
27 Asia 3,475 3,217 3,622 3,437
28 Japan 3,337 3,035 3,384 3,142
29 Middle Eastern
oil-exporting
countries(1) 1 2 3 3
30 Africa 31 29 31 28
31 Oil-exporting countries(2) 2 0 0 0
32 All other(3) 545 545 550 98
Commercial liabilities
33 Europe 8,580 8,718 9,265 9,262
34 Belgium and Luxembourg 229 189 128 140
35 France 654 656 620 672
36 Germany 1,088 1,143 1,201 1,131
37 Netherlands 361 432 535 507
38 Switzerland 535 497 593 626
39 United Kingdom 3,008 2,959 3,175 3,071
40 Canada 1,597 1,670 1,753 1,775
41 Latin America and Caribbean 1,612 1,674 1,957 2,310
42 Bahamas 11 19 24 22
43 Bermuda 225 180 178 152
44 Brazil 107 112 120 145
45 British West Indies 7 5 39 48
46 Mexico 437 490 704 887
47 Venezuela 155 149 182 305
48 Asia 10,428 10,039 10,428 9,886
49 Japan 2,715 2,753 2,689 2,609
50 Middle Eastern
oil-exporting
countries(1) 2,479 2,209 2,618 2,551
51 Africa 727 832 959 950
52 Oil-exporting countries(2) 377 392 584 499
53 Other(3) 1,261 1,346 1,195 881
2000
Type of liability, and area
or country
Mar. June(p)
1 Total 52,555 70,534
2 Payable in dollars 34,680 47,864
3 Payable in foreign currencies 17,875 22,670
By type
4 Financial liabilities 28,246 44,068
5 Payable in dollars 11,924 22,803
6 Payable in foreign currencies 16,322 21,265
7 Commercial liabilities 24,309 26,466
8 Trade payables 12,401 13,764
9 Advance receipts and other
liabilities 11,908 12,702
10 Payable in dollars 22,756 25,061
11 Payable in foreign currencies 1,553 1,405
By area or country
Financial liabilities
12 Europe 23,116 30,332
13 Belgium and Luxembourg 4 163
14 France 1,405 1,702
15 Germany 1,390 1,671
16 Netherlands 1,970 2,035
17 Switzerland 97 137
18 United Kingdom 16,579 21,463
19 Canada 313 714
20 Latin America and Caribbean 846 2,874
21 Bahamas 1 78
22 Bermuda 1 1,016
23 Brazil 128 146
24 British West Indies 489 463
25 Mexico 22 26
26 Venezuela 0 0
27 Asia 3,275 9,453
28 Japan 2,985 6,024
29 Middle Eastern
oil-exporting
countries(1) 4 5
30 Africa 28 33
31 Oil-exporting countries(2) 0 0
32 All other(3) 668 662
Commercial liabilities
33 Europe 8,646 9,293
34 Belgium and Luxembourg 78 178
35 France 539 711
36 Germany 914 948
37 Netherlands 648 562
38 Switzerland 536 565
39 United Kingdom 2,661 2,982
40 Canada 2,024 2,053
41 Latin America and Caribbean 2,286 2,607
42 Bahamas 9 10
43 Bermuda 287 300
44 Brazil 115 119
45 British West Indies 23 22
46 Mexico 805 1,073
47 Venezuela 193 239
48 Asia 9,681 10,965
49 Japan 2,274 2,200
50 Middle Eastern
oil-exporting
countries(1) 2,308 3,489
51 Africa 943 950
52 Oil-exporting countries(2) 536 575
53 Other(3) 729 598
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.23 CLAIMS ON UNAFFILIATED FOREIGNERS Reported by
Nonbanking Business Enterprises in the United States
Millions of dollars, end of period
Type of claim, and 1996 1997 1998
area or country
1 Total 65,897 68,128 77,462
2 Payable in dollars 59,156 62,173 72,171
3 Payable in foreign currencies 6,741 5,955 5,291
By type
4 Financial claims 37,523 36,959 46,260
5 Deposits 21,624 22,909 30,199
6 Payable in dollars 20,852 21,060 28,549
7 Payable in foreign currencies 772 1,849 1,650
8 Other financial claims 15,899 14,050 16,061
9 Payable in dollars 12,374 11,806 14,049
10 Payable in foreign currencies 3,525 2,244 2,012
11 Commercial claims 28,374 31,169 31,202
12 Trade receivables 25,751 27,536 27,202
13 Advance payments and other claims 2,623 3,633 4,000
14 Payable in dollars 25,930 29,307 29,573
15 Payable in foreign currencies 2,444 1,862 1,629
By area or country
Financial claims
16 Europe 11,085 14,999 12,294
17 Belgium and Luxembourg 185 406 661
18 France 694 1,015 864
19 Germany 276 427 304
20 Netherlands 493 677 875
21 Switzerland 474 434 414
22 United Kingdom 7,922 10,337 7,766
23 Canada 3,442 3,313 2,503
24 Latin America and Caribbean 20,032 15,543 27,714
25 Bahamas 1,553 2,308 403
26 Bermuda 140 108 39
27 Brazil 1,468 1,313 835
28 British West Indies 15,536 10,462 24,388
29 Mexico 457 537 1,245
30 Venezuela 31 36 55
31 Asia 2,221 2,133 3,027
32 Japan 1,035 823 1,194
33 Middle Eastern oil-exporting
countries(1) 22 11 9
34 Africa 174 319 159
35 Oil-exporting countries(2) 14 15 16
36 All other(3) 569 652 563
Commercial claims
37 Europe 10,443 12,120 13,246
38 Belgium and Luxembourg 226 328 238
39 France 1,644 1,796 2,171
40 Germany 1,337 1,614 1,822
41 Netherlands 562 597 467
42 Switzerland 642 554 483
43 United Kingdom 2,946 3,660 4,769
44 Canada 2,165 2,660 2,617
45 Latin America and Caribbean 5,276 5,750 6,296
46 Bahamas 35 27 24
47 Bermuda 275 244 536
48 Brazil 1,303 1,162 1,024
49 British West Indies 190 109 104
50 Mexico 1,128 1,392 1,545
51 Venezuela 357 576 401
52 Asia 8,376 8,713 7,192
53 Japan 2,003 1,976 1,681
54 Middle Eastern oil-exporting
countries(1) 971 1,107 1,135
55 Africa 746 680 711
56 Oil-exporting countries(2) 166 119 165
57 Other(3) 1,368 1,246 1,140
1999
Type of claim, and
area or country
Mar. June Sept.
1 Total 69,054 63,884 67,566
2 Payable in dollars 64,026 57,006 60,456
3 Payable in foreign currencies 5,028 6,878 7,110
By type
4 Financial claims 38,217 31,957 33,877
5 Deposits 18,686 13,350 15,192
6 Payable in dollars 17,101 11,636 13,240
7 Payable in foreign currencies 1,585 1,714 1,952
8 Other financial claims 19,531 18,607 18,685
9 Payable in dollars 17,457 14,800 15,718
10 Payable in foreign currencies 2,074 3,807 2,967
11 Commercial claims 30,837 31,927 33,689
12 Trade receivables 26,724 27,791 29,397
13 Advance payments and other claims 4,113 4,136 4,292
14 Payable in dollars 29,468 30,570 31,498
15 Payable in foreign currencies 1,369 1,357 2,191
By area or country
Financial claims
16 Europe 12,881 13,978 13,878
17 Belgium and Luxembourg 469 457 574
18 France 913 1,368 1,212
19 Germany 302 367 549
20 Netherlands 993 997 1,067
21 Switzerland 530 504 559
22 United Kingdom 8,400 8,631 8,157
23 Canada 3,111 2,828 3,172
24 Latin America and Caribbean 18,825 11,486 12,749
25 Bahamas 666 467 755
26 Bermuda 41 39 524
27 Brazil 1,112 1,102 1,265
28 British West Indies 14,621 7,393 7,263
29 Mexico 1,583 1,702 1,791
30 Venezuela 72 71 47
31 Asia 2,648 2,801 3,205
32 Japan 942 949 1,250
33 Middle Eastern oil-exporting
countries(1) 8 5 5
34 Africa 174 228 251
35 Oil-exporting countries(2) 26 5 12
36 All other(3) 578 636 622
Commercial claims
37 Europe 12,782 12,961 14,367
38 Belgium and Luxembourg 281 286 289
39 France 2,173 2,094 2,375
40 Germany 1,599 1,660 1,944
41 Netherlands 415 389 617
42 Switzerland 367 385 714
43 United Kingdom 4,529 4,615 4,789
44 Canada 2,983 2,855 2,638
45 Latin America and Caribbean 5,930 6,278 5,879
46 Bahamas 10 21 29
47 Bermuda 500 583 549
48 Brazil 936 887 763
49 British West Indies 117 127 157
50 Mexico 1,431 1,478 1,613
51 Venezuela 361 384 365
52 Asia 7,080 7,690 8,579
53 Japan 1,486 1,511 1,823
54 Middle Eastern oil-exporting
countries(1) 1,286 1,465 1,479
55 Africa 685 738 682
56 Oil-exporting countries(2) 116 202 221
57 Other(3) 1,377 1,405 1,544
1999 2000
Type of claim, and
area or country
Dec. Mar. June(p)
1 Total 76,669 84,266 80,685
2 Payable in dollars 69,170 74,331 72,254
3 Payable in foreign currencies 7,472 9,935 8,431
By type
4 Financial claims 40,231 47,798 44,303
5 Deposits 18,566 23,316 17,462
6 Payable in dollars 16,373 21,442 15,361
7 Payable in foreign currencies 2,193 1,874 2,101
8 Other financial claims 21,665 24,482 26,841
9 Payable in dollars 18,593 19,659 22,384
10 Payable in foreign currencies 3,072 4,823 4,457
11 Commercial claims 36,438 36,468 36,382
12 Trade receivables 32,629 31,443 31,237
13 Advance payments and other claims 3,809 5,025 5,145
14 Payable in dollars 34,204 33,230 34,509
15 Payable in foreign currencies 2,207 3,238 1,873
By area or country
Financial claims
16 Europe 13,023 16,789 18,254
17 Belgium and Luxembourg 529 540 317
18 France 967 1,835 1,292
19 Germany 504 669 576
20 Netherlands 1,229 1,981 1,984
21 Switzerland 643 612 624
22 United Kingdom 7,561 9,044 11,668
23 Canada 2,553 3,175 5,799
24 Latin America and Caribbean 18,206 21,945 14,874
25 Bahamas 1,593 1,299 655
26 Bermuda 11 11 34
27 Brazil 1,476 1,646 1,666
28 British West Indies 12,099 15,814 7,751
29 Mexico 1,798 1,979 2,048
30 Venezuela 48 65 78
31 Asia 5,457 4,430 3,923
32 Japan 3,262 2,021 1,410
33 Middle Eastern
oil-exporting countries(1) 21 29 42
34 Africa 286 232 320
35 Oil-exporting countries(2) 15 15 39
36 All other(3) 706 1,227 1,133
Commercial claims
37 Europe 16,389 16,118 15,910
38 Belgium and Luxembourg 316 271 425
39 France 2,236 2,520 2,690
40 Germany 1,960 2,034 1,902
41 Netherlands 1,429 1,337 1,241
42 Switzerland 610 611 563
43 United Kingdom 5,827 5,354 4,928
44 Canada 2,757 3,088 3,246
45 Latin America and Caribbean 5,959 5,899 5,789
46 Bahamas 20 15 48
47 Bermuda 390 404 380
48 Brazil 905 849 894
49 British West Indies 181 95 51
50 Mexico 1,678 1,529 1,564
51 Venezuela 439 435 465
52 Asia 9,165 9,101 9,168
53 Japan 2,074 2,082 1,881
54 Middle Eastern oil-exporting
countries(1) 1,625 1,533 1,241
55 Africa 631 716 765
56 Oil-exporting countries(2) 171 82 160
57 Other(3) 1,537 1,546 1,504
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2000
Transaction, and area or 1998 1999
country
Jan.-
Aug.
U.S. corporate securities
STOCKS
1 Foreign purchases 1,574,192 2,340,659 2,395,465
2 Foreign sales 1,524,203 2,233,137 2,266,311
3 Net purchases, or sales (-) 49,989 107,522 129,154
4 Foreign countries 50,369 107,578 129,089
5 Europe 68,124 98,060 121,811
6 France 5,672 3,813 4,088
7 Germany 9,195 13,410 27,913
8 Netherlands 8,249 8,083 2,236
9 Switzerland 5,001 5,650 11,974
10 United Kingdom 23,952 42,902 35,822
11 Canada -4,689 -335 3,532
12 Latin America and Caribbean 757 5,187 -4,258
13 Middle East(1) -1,449 -1,066 7,766
14 Other Asia -12,351 4,445 -807
15 Japan -1,171 5,723 -5,309
16 Africa 639 372 521
17 Other countries -662 915 524
18 Nonmonetary international
and regional
organizations -380 -56 65
BONDS(2)
19 Foreign purchases 905,782 856,804 766,010
20 Foreign sales 727,044 602,109 557,284
21 Net purchases, or sales (-) 178,738 254,695 208,726
22 Foreign countries 179,081 255,097 208,648
23 Europe 130,057 140,674 113,004
24 France 3,386 1,870 2,278
25 Germany 4,369 7,723 3,129
26 Netherlands 3,443 2,446 642
27 Switzerland 4,826 4,553 2,751
28 United Kingdom 99,637 106,344 86,413
29 Canada 6,121 6,043 9,986
30 Latin America and Caribbean 23,938 60,861 37,221
31 Middle East(1) 4,997 1,979 1,124
32 Other Asia 12,662 42,842 45,645
33 Japan 8,384 17,541 21,296
34 Africa 190 1,411 730
35 Other countries 1,116 1,287 938
36 Nonmonetary international
and regional
organizations -343 -402 78
Foreign securities
37 Stocks, net purchases, or
sales (-) 6,227 15,640 -22,616
38 Foreign purchases 929,923 1,177,303 1,214,678
39 Foreign sales 923,696 1,161,663 1,237,294
40 Bonds, net purchases, or
sales (-) -17,350 -5,676 2,218
41 Foreign purchases 1,328,281 798,267 589,751
42 Foreign sales 1,345,631 803,943 587,533
43 Net purchases, or sales
(-), of stocks and bonds -11,123 9,964 -20,398
44 Foreign countries -10,778 9,679 -20,382
45 Europe 12,632 59,247 -21,288
46 Canada -1,901 -999 -2,759
47 Latin America and Caribbean -13,798 -4,726 -13,767
48 Asia -3,992 -42,961 16,191
49 Japan -1,742 -43.637 17,950
50 Africa -1,225 710 890
51 Other countries -2,494 -1,592 351
52 Nonmonetary international
and regional
organizations -345 285 -16
2000
Transaction, and area or
country
Feb. Mar. Apr. May
U.S. corporate securities
STOCKS
1 Foreign purchases 293,110 402,373 309,778 268,454
2 Foreign sales 265,365 378,141 306,474 262,142
3 Net purchases, or sales (-) 27,745 24,232 3,304 6,312
4 Foreign countries 27,626 24,414 3,243 6,291
5 Europe 24,375 18,594 12,289 7,496
6 France 529 1,831 1,341 -588
7 Germany 5,425 4,532 3,431 3,355
8 Netherlands 516 277 113 -113
9 Switzerland 4,804 -913 1,689 585
10 United Kingdom 6,685 4,794 558 1,440
11 Canada 890 286 9 834
12 Latin America and Caribbean 1,989 4,840 -11,441 -2,633
13 Middle East(1) 1,179 2,124 2,071 705
14 Other Asia -860 -1,716 52 -121
15 Japan -1,115 -2,604 -446 -1,045
16 Africa -2 205 228 -50
17 Other countries 55 81 35 60
18 Nonmonetary international
and regional
organizations 119 -182 61 21
BONDS(2)
19 Foreign purchases 99,605 106,302 88,155 89,760
20 Foreign sales 69,476 76,979 70,900 68,212
21 Net purchases, or sales (-) 30,129 29,323 17,255 21,548
22 Foreign countries 30,147 29,422 17,260 21,490
23 Europe 17,063 19,454 7,640 9,475
24 France 1,124 620 -34 104
25 Germany 702 348 288 175
26 Netherlands -97 94 279 283
27 Switzerland 526 202 -18 9
28 United Kingdom 13,478 15,479 4,274 6,237
29 Canada 1,324 689 764 1,076
30 Latin America and Caribbean 9,659 3,680 4,724 2,786
31 Middle East(1) -177 670 347 -47
32 Other Asia 2,545 4,506 3,753 7,996
33 Japan 1,173 2,010 580 3,491
34 Africa -130 -11 35 40
35 Other countries -137 434 -3 164
36 Nonmonetary international
and regional
organizations -18 -99 -5 58
Foreign securities
37 Stocks, net purchases, or
sales (-) -8,884 -8,173 723 8,535
38 Foreign purchases 176,940 177,090 154,322 145,408
39 Foreign sales 185,824 185,263 153,599 136,873
40 Bonds, net purchases, or
sales (-) -1,986 -3,431 798 4,263
41 Foreign purchases 74,380 83,838 63,916 79,534
42 Foreign sales 76,366 87,269 63,118 75,271
43 Net purchases, or sales
(-), of stocks and bonds -10,870 -11,604 1,521 12,798
44 Foreign countries -10,899 -11,703 1,356 12,722
45 Europe -4,969 -5,923 1,628 10,113
46 Canada -1,865 -1,400 -422 -1,234
47 Latin America and Caribbean -4,252 -701 -5,155 -845
48 Asia -713 -4,086 5,695 4,971
49 Japan -879 -1,458 4,688 5,978
50 Africa 184 384 -143 -51
51 Other countries 716 23 -247 -232
52 Nonmonetary international
and regional
organizations 29 99 165 76
2000
Transaction, and area or
country
June July Aug.(p)
U.S. corporate securities
STOCKS
1 Foreign purchases 300,356 270,618(r) 286,830
2 Foreign sales 282,563 255,478(r) 262,783
3 Net purchases, or sales (-) 17,793 15,140(r) 24,047
4 Foreign countries 17,823 15,130(r) 24,023
5 Europe 14,853 12,822(r) 15,678
6 France -653 1,293 575
7 Germany 2,544 323(r) 2,670
8 Netherlands 584 546 594
9 Switzerland 67 1,703(r) 1,113
10 United Kingdom 7,026 5,975(r) 7,098
11 Canada -46 -145 1,038
12 Latin America and Caribbean 1,898 1,369 4,910
13 Middle East(1) 4 98 908
14 Other Asia 870 823 1,790
15 Japan 439 497 568
16 Africa 54 -66 2
17 Other countries 190 229 -303
18 Nonmonetary international
and regional
organizations -30 10 24
BONDS(2)
19 Foreign purchases 107,281 87,302(r) 108,560
20 Foreign sales 75,117 67,943(r) 69,768
21 Net purchases, or sales (-) 32,164 19,359(r) 38,792
22 Foreign countries 32,215 19,271(r) 38,682
23 Europe 19,378 7,573(r) 22,338
24 France 159 85 334
25 Germany 897 152 1,185
26 Netherlands -169 -575 850
27 Switzerland 324 998 757
28 United Kingdom 16,218 3,774(r) 16,629
29 Canada 1,092 943 1,965
30 Latin America and Caribbean 4,390 3,748 3,576
31 Middle East(1) 99 264 54
32 Other Asia 7,059 6,601(r) 10,562
33 Japan 3,945 3,320(r) 5,664
34 Africa 72 10 37
35 Other countries 125 132 150
36 Nonmonetary international
and regional
organizations -51 88 110
Foreign securities
37 Stocks, net purchases, or
sales (-) -2,046 -14,860(r) 982
38 Foreign purchases 152,149 132,247(r) 141,573
39 Foreign sales 154,195 147,107(r) 140,591
40 Bonds, net purchases, or
sales (-) 5,770 2,831(r) -2,529
41 Foreign purchases 82,951 68,151 74,795
42 Foreign sales 77,181 65,320(r) 77,324
43 Net purchases, or sales
(-), of stocks and bonds 3,724 -12,029(r) -1,547
44 Foreign countries 3,874 -11,788(r) -1,393
45 Europe -1,434 -15,454(r) -6,003
46 Canada 1,399 239 995
47 Latin America and Caribbean 1,981 262 -189
48 Asia 1,878 3,235(r) 3,256
49 Japan 3,243 3,985 1,527
50 Africa -33 531 -81
51 Other countries 83 -601 629
52 Nonmonetary international
and regional
organizations -150 -241 -154
(1.) Comprises oil-exporting countries as follows: Bahrain, Iran,
Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates
(Trucial States).
(2.) Includes state and local government securities and securities
of U.S. government agencies and corporations. Also includes issues
of new debt securities sold abroad by U.S. corporations organized
to finance direct investments abroad.
3.25 MARKETABLE U.S. TREASURY BONDS AND NOTES Foreign Transactions(1)
Millions of dollars; net purchases, or sales (-) during period
2000 2000
Area or country 1998 1999
Jan.-
Aug. Feb.
1 Total estimated 49,039 -9,953 -18,349 5,563
2 Foreign countries 46,570 -10,518 -17,520 5,770
3 Europe 23,797 38,228 -27,917 -2,443
4 Belgium and Luxembourg 3,805 -81 -77 65
5 Germany 144 2,285 -3,740 -866
6 Netherlands -5,533 2,122 2,479 2,475
7 Sweden 1,486 1,699 762 -100
8 Switzerland 5,240 -1,761 -9,068 -1,382
9 United Kingdom 14,384 -20,232 -17,789 -1,261
10 Other Europe and former
U.S.S.R. 4,271 -22,260 -484 -1,374
11 Canada 615 7,348 780 8
12 Latin America and Caribbean -3,662 -7,523 -3,146 6,844
13 Venezuela 59 362 271 13
14 Other Latin America and
Caribbean 9,523 1,661 -6,667 2,482
15 Netherlands Antilles -13,244 -9,546 3,250 4,349
16 Asia 27,433 29,359 11,388 1,064
17 Japan 13,048 20,102 6,665 -1,874
18 Africa 751 -3,021 -209 80
19 Other -2,364 1,547 1,584 217
20 Nonmonetary international
and regional
organizations 2,469 565 -829 -207
21 International 1,502 190 -782 -194
22 Latin American regional 199 666 42 0
MEMO
23 Foreign countries 46,570 -10,518 -17,520 5,770
24 Official institutions 4,123 -9,861 11,367 1,777
25 Other foreign 42,447 -657 -28,887 3,993
Oil-exporting countries
26 Middle East(2) -16,554 2,207 6,092 170
27 Africa(3) 2 0 0 0
2000
Area or country
Mar. Apr. May
1 Total estimated -16,871 14,520 -7,018
2 Foreign countries -17,092 14,484 -6,820
3 Europe -9,971 -632 -2,526
4 Belgium and Luxembourg 116 -498 -743
5 Germany -1,352 -1,676 74
6 Netherlands 539 700 -1,159
7 Sweden 263 -289 266
8 Switzerland 5 -288 -337
9 United Kingdom -5,150 -533 178
10 Other Europe and former
U.S.S.R. -4,392 1,952 -805
11 Canada 640 1,819 -681
12 Latin America and Caribbean -4,789 2,509 -3,122
13 Venezuela 24 26 4
14 Other Latin America and
Caribbean -1,596 258 -548
15 Netherlands Antilles -3,217 2,225 -2,578
16 Asia -2,943 11,166 -908
17 Japan 494 10,855 -2,486
18 Africa -19 4 -114
19 Other -10 -382 531
20 Nonmonetary international
and regional
organizations 221 36 -198
21 International 151 30 -158
22 Latin American regional 70 6 -14
MEMO
23 Foreign countries -17,092 14,484 -6,820
24 Official institutions -569 6,403 -1,405
25 Other foreign -16,523 8,081 -5,415
Oil-exporting countries
26 Middle East(2) 283 811 572
27 Africa(3) 0 0 0
2000
Area or country
June July Aug.(p)
1 Total estimated -17,932 -6,068 -86
2 Foreign countries -17,597 -5,753 -90
3 Europe -9,935 -6,358 3,734
4 Belgium and Luxembourg 252 -138 138
5 Germany 609 -2,199 -36
6 Netherlands -389 -584 91
7 Sweden -47 114 56
8 Switzerland -1,928 -1,393 -338
9 United Kingdom -9,243 -4,384 3,054
10 Other Europe and former
U.S.S.R. 811 2,226 769
11 Canada 226 -872 222
12 Latin America and Caribbean -3,839 1,415 245
13 Venezuela 16 89 45
14 Other Latin America and
Caribbean -4,748 1,261 61
15 Netherlands Antilles 893 65 139
16 Asia -3,988 -488 -4,918
17 Japan - 2,660 672 367
18 Africa -130 4 9
19 Other 69 546 618
20 Nonmonetary international
and regional
organizations -335 -315 4
21 International -286 -333 15
22 Latin American regional -9 -1 -10
MEMO
23 Foreign countries -17,597 -5,753 -90
24 Official institutions -1,412 -639 449
25 Other foreign -16,185 -5,114 -539
Oil-exporting countries
26 Middle East(2) 859 267 217
27 Africa(3) 0 0 0
(1.) Official and private transactions in marketable U.S. Treasury
securities having an original maturity of more than one year. Data
are based on monthly transactions reports. Excludes nonmarketable
U.S. Treasury bonds and notes held by official institutions of
foreign countries.
(2.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
(3.) Comprises Algeria, Gabon, Libya, and Nigeria.
3.28 FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE
VALUE OF THE U.S. DOLLAR(1)
Currency units per U.S. dollar except as noted
Item 1997 1998 1999
Exchange Rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar(2) 74.37 62.91 64.54
2 Austria/schilling 12.206 12.379 n.a.
3 Belgium/franc 35.81 36.31 n.a.
4 Brazil/real 1.0779 1.1605 1.8207
5 Canada/dollar 1.3849 1.4836 1.4858
6 China, P.R./yuan 8.3193 8.3008 8.2781
7 Denmark/krone 6.6092 6.7030 6.9900
8 European Monetary Union/
euro(3) n.a. n.a. 1.0653
9 Finland/markka 5.1956 5.3473 n.a.
10 France/franc 5.8393 5.8995 n.a.
11 Germany/deutsche mark 1.7348 1.7597 n.a.
12 Greece/drachma 273.28 295.70 306.30
13 Hong Kong/dollar 7.7431 7.7467 7.7594
14 India/rupee 36.36 41.36 43.13
15 Ireland/pound(2) 151.63 142.48 n.a.
16 Italy/lira 1,703.81 1,736.85 n.a.
17 Japan/yen 121.06 130.99 113.73
18 Malaysia/ringgit 2.8173 3.9254 3.8000
19 Mexico/peso 7.918 9.152 9.553
20 Netherlands/guilder 1.9525 1.9837 n.a.
21 New Zealand/dollar(2) 66.25 53.61 52.94
22 Norway/krone 7.0857 7.5521 7.8071
23 Portugal/escudo 175.44 180.25 n.a.
24 Singapore/dollar 1.4857 1.6722 1.6951
25 South Africa/rand 4.6072 5.5417 6.1191
26 South Korea/won 947.65 1,400.40 1,189.84
27 Spain/peseta 146.53 149.41 n.a.
28 Sri Lanka/rupee 59.026 65.006 70.868
29 Sweden/krona 7.6446 7.9522 8.2740
30 Switzerland/franc 1.4514 1.4506 1.5045
31 Taiwan/dollar 28.775 33.547 32.322
32 Thailand/baht 31.072 41.262 37.887
33 United Kingdom/pound(2) 163.76 165.73 161.72
34 Venezuela/bolivar 488.87 548.39 606.82
Indexes(4)
NOMINAL
35 Broad (January 1997=100)(5) 104.44 116.48 116.87
36 Major currencies (March
1973=100)(6) 91.24 95.79 94.07
37 Other important trading
partners (January 1997=
100)(7) 104.67 126.03 129.94
REAL
38 Broad (March 1973=100)(5) 91.24 99.25 98.66
39 Major currencies (March
1973=100)(6) 92.26 97.25 96.74(r)
40 Other important trading
partners (March 1973=
100)(7) 95.58 108.20 107.44
2000
Item
May June July
Exchange Rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar(2) 57.84 59.49 58.70
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 1.8278 1.8099 1.7982
5 Canada/dollar 1.4957 1.4770 1.4778
6 China, P.R./yuan 8.2781 8.2772 8.2794
7 Denmark/krone 8.2329 7.8501 7.9471
8 European Monetary Union/
euro(3) 0.9059 0.9505 0.9386
9 Finland/markka n.a. n.a. n.a.
10 France/franc n.a. n.a. n.a.
11 Germany/deutsche mark n.a. n.a. n.a.
12 Greece/drachma 371.63 354.14 359.04
13 Hong Kong/dollar 7.7907 7.7934 7.7969
14 India/rupee 44.08 44.76 44.84
15 Ireland/pound(2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 108.32 106.13 108.21
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.506 9.834 9.419
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar(2) 47.08 47.05 45.97
22 Norway/krone 9.0533 8.6807 8.7185
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.7286 1.7277 1.7414
25 South Africa/rand 7.0238 6.9147 6.8971
26 South Korea/won 1,119.49 1,117.94 1,115.08
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 74.867 76.736 78.852
29 Sweden/krona 9.0925 8.7471 8.9640
30 Switzerland/franc 1.7190 1.6420 1.6519
31 Taiwan/dollar 30.772 30.831 30.984
32 Thailand/baht 38.951 39.087 40.318
33 United Kingdom/pound(2) 150.90 150.92 150.76
34 Venezuela/bolivar 680.00 680.96 685.96
Indexes(4)
NOMINAL
35 Broad (January 1997=100)(5) 120.70 119.43 119.86
36 Major currencies (March
1973=100)(6) 99.31 96.74 97.68
37 Other important trading
partners (January 1997=
100)(7) 130.43 131.62 131.08
REAL
38 Broad (March 1973=100)(5) 102.77 102.02(r) 102.46(r)
39 Major currencies (March
1973=100)(6) 103.70 101.31(r) 102.42(r)
40 Other important trading
partners (March 1973=
100)(7) 107.95 109.35 108.90(r)
2000
Item
Aug. Sept. Oct.
Exchange Rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar(2) 58.08 55.21 52.80
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 1.8091 1.8397 1.8813
5 Canada/dollar 1.4828 1.4864 1.5125
6 China, P.R./yuan 8.2796 8.2785 8.2785
7 Denmark/krone 8.2459 8.5849 8.7276
8 European Monetary Union/
euro(3) 0.9045 0.8695 0.8525
9 Finland/markka n.a. n.a. n.a.
10 France/franc n.a. n.a. n.a.
11 Germany/deutsche mark n.a. n.a. n.a.
12 Greece/drachma 372.97 389.67 398.29
13 Hong Kong/dollar 7.7995 7.7985 7.7977
14 India/rupee 45.77 45.97 46.43
15 Ireland/pound(2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 108.08 106.84 108.44
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.272 9.362 9.537
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar(2) 44.52 41.71 40.01
22 Norway/krone 8.9526 9.2331 9.3794
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.7206 1.7406 1.7525
25 South Africa/rand 6.9570 7.1805 7.4902
26 South Korea/won 1,114.47 1,117.57 1,131.10
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 78.283 78.731 79.291
29 Sweden/krona 9.2771 9.6853 9.9930
30 Switzerland/franc 1.7149 1.7586 1.7745
31 Taiwan/dollar 31.106 31.198 31.846
32 Thailand/baht 40.889 41.992 43.334
33 United Kingdom/pound(2) 148.89 143.36 145.06
34 Venezuela/bolivar 689.17 690.39 692.86
Indexes(4)
NOMINAL
35 Broad (January 1997=100)(5) 120.65 122.08 123.83
36 Major currencies (March
1973=100)(6) 99.16 100.76 102.35
37 Other important trading
partners (January 1997=
100)(7) 130.51 131.39 133.03
REAL
38 Broad (March 1973=100)(5) 103.01 104.04(r) 105.54
39 Major currencies (March
1973=100)(6) 104.01(r) 105.66(r) 107.60
40 Other important trading
partners (March 1973=
100)(7) 108.09(r) 108.39(r) 109.41
(1.) Averages of certified noon buying rates in New York for cable
transfers. Data in this table also appear in the Board's G.5 (405)
monthly statistical release. For ordering address, see inside front
cover.
(2.) U.S. cents per currency unit.
(3.) As of January 1999, the euro is reported in place of the
individual euro area currencies. By convention, the rate is reported
in U.S. dollars per euro. These currency rates can be derived from
the euro rate by using the fixed conversion rates (in currencies per
euro) as shown below:
Euro equals
13.7603 Austrian schillings
40.3399 Belgian francs
5.94573 Finnish markkas
6.55957 French francs
1.95583 German marks
.787564 Irish pounds
1936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
(4.) The December 1999 Bulletin contains revised index values
resulting from the annual revision to the trade weights. For more
information on the indexes of the foreign exchange value of the
dollar, see Federal Reserve Bulletin, vol. 84 (October 1998), pp.
811-18.
(5.) Weighted average of the foreign exchange value of the U.S.
dollar against the currencies of a broad group of U.S.
trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to
the issuing country and of a measure of the importance to U.S.
exporters of that country's trade in third country markets.
(6.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that circulate
widely outside the country of issue. The weight for each currency is
its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one.
(7.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that do not
circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the
subset of currencies in the index sum to one.
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