Financial and Business Statistics.
Guide to Tabular Presentation
SYMBOLS AND ABBREVIATIONS
(c) Corrected
(e) Estimated
n.a. Not available
n.e.c. Not elsewhere classified
(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
ABS Asset-backed security
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FAMC Federal Agriculture Mortgage Corporation
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)
2000 2001
Monetary or
credit aggregate Q2 Q3 Q4(r) Q1(r)
Reserves of depository
institutions(2)
1 Total -10.9 -8.3 -8.7 -2.1
2 Required -7.7 -8.6 -10.4 -3.5
3 Nonborrowed -12.5 -9.9 -6.4 .5
4 Monetary base(3) -3.6 2.5 2.8 6.4
Concepts of money and debt(4)
5 M1 -1.9(r) -3.7(r) -3.3 5.1
6 M2 6.4 5.6(r) 6.3 10.7
7 M3 9.0 8.8 7.0 12.2
8 Debt 6.1 4.6(r) 4.5 4.8
Nontransaction components
9 In M2(5) 9.0 8.5 9.1 12.3
10 In M3 only(6) 15.2(r) 16.3(r) 8.8 15.9
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 8.0(r) 11.8 12.0 17.4
12 Small time(7) 13.3(r) 10.5 5.6 2.5
13 Large time(8,9) 17.1 11.5 4.1 -1.3
Thrift institutions
14 Savings including MMDAs 1.4(r) 3.1(r) .4 6.4
15 Small time(7) 3.7(r) 10.8 9.5 6.4
16 Large time(8) .6 23.2(r) 14.0 11.9
Money market mutual funds
17 Retail 13.4 3.9(r) 11.6 16.9
18 Institution-only 17.8(r) 29.0(r) 18.6 49.8
Repurchase agreements and
eurodollars
19 Repurchase agreements(10) 11.0 8.2 -3.6 -13.7
20 Eurodollars 15.0 .6 10.3 3.1
Debt components(4)
21 Federal -7.5 -7.3 -8.0 -5.4
22 Nonfederal 9.6(r) 7.6(r) 7.5 7.2
2001
Monetary or
credit aggregate Jan.(r) Feb.(r) Mar.(r)
Reserves of depository
institutions(2)
1 Total 10.0 1.2 -18.8
2 Required 12.7 -4.5 -18.0
3 Nonborrowed 14.3 1.9 -19.0
4 Monetary base(3) 11.2 3.5 2.6
Concepts of money and debt(4)
5 M1 12.6 .9 13.8
6 M2 12.2 10.9 14.4
7 M3 15.8 9.9 9.5
8 Debt 3.3 5.0 6.0
Nontransaction components
9 In M2(5) 12.1 13.7 14.6
10 In M3 only(6) 24.1 7.5 -1.5
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 13.8 24.7 19.7
12 Small time(7) 5.3 -4.8 -7.0
13 Large time(8,9) 22.8 -57.4 -46.8
Thrift institutions
14 Savings including MMDAs .3 26.5 23.6
15 Small time(7) 11.1 2.7 -3.4
16 Large time(8) 32.6 6.8 2.3
Money market mutual funds
17 Retail 20.5 8.7 24.6
18 Institution-only 51.2 86.6 40.7
Repurchase agreements and
eurodollars
19 Repurchase agreements(10) -14.0 -33.7 -24.3
20 Eurodollars -14.0 4.9 14.7
Debt components(4)
21 Federal -7.1 -2.9 1.2
22 Nonfederal 5.7 6.8 7.1
2001
Monetary or
credit aggregate Apr.(r) May
Reserves of depository
institutions(2)
1 Total 16.6 3.2
2 Required 20.8 11.5
3 Nonborrowed 16.9 -1.8
4 Monetary base(3) 7.1 6.3
Concepts of money and debt(4)
5 M1 5.3 -.6
6 M2 10.4 5.1
7 M3 17.6 13.3
8 Debt 3.4 n.a.
Nontransaction components
9 In M2(5) 11.8 6.7
10 In M3 only(6) 34.4 32.0
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 20.4 18.0
12 Small time(7) -9.3 -9.2
13 Large time(8,9) 35.6 8.8
Thrift institutions
14 Savings including MMDAs 10.2 32.3
15 Small time(7) 1.0 6.9
16 Large time(8) 20.2 19.9
Money market mutual funds
17 Retail 18.1 -11.8
18 Institution-only 42.4 67.2
Repurchase agreements and
eurodollars
19 Repurchase agreements(10) 71.5 3.3
20 Eurodollars -61.8 8.3
Debt components(4)
21 Federal -10.9 n.a.
22 Nonfederal 6.6 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
2001
Factor Mar. Apr. May
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 577,856 580,694 585,031
U.S. government securities(2)
2 Bought outright--System
account(3) 522,787 523,962 526,810
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 19,105 20,009 21,907
7 Acceptances 0 0 0
Loans to depository institu-
tions
8 Adjustment credit 27 29 129
9 Seasonal credit 19 35 80
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 406 251 -91
13 Other Federal Reserve assets 35,502 36,398 36,187
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,191 32,349 32
ABSORBING RESERVE FUNDS
17 Currency in circulation 585,180 588,086(r) 591,535
18 Reverse repurchase agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 496 500 514
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,390 5,903 5,149
21 Foreign 85 92 100
22 Service-related balances and
adjustments 6,859 6,940 6,946
23 Other 260 352 350
24 Other Federal Reserve
liabilities and capital 18,232 17,806 17,971
25 Reserve balances with Federal
Reserve Banks(5) 6,789 6,609 8,198
Average of daily figures for week
ending on date indicated
2001
Factor Apr. 18 Apr. 25 May 2
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 581,623 579,189 586,387
U.S. government securities(2)
2 Bought outright--System
account(3) 522,374 525,432 527,036
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 22,220 17,183 22,443
7 Acceptances 0 0 0
Loans to depository institu-
tions
8 Adjustment credit 4 29 10
9 Seasonal credit 40 36 41
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 613 -402 -401
13 Other Federal Reserve assets 36,362 36,900 37,247
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,347(r) 32,382(r) 32,417
ABSORBING RESERVE FUNDS
17 Currency in circulation 588,863(r) 588,001(r) 588,369
18 Reverse repurchase agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 503 512 516
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,491 6,894 6,733
21 Foreign 79 119 86
22 Service-related balances and
adjustments 6,785 7,031(r) 7,241
23 Other 342 347 357
24 Other Federal Reserve
liabilities and capital 17,953 17,971 17,983
25 Reserve balances with Federal
Reserve Banks(5) 7,200(r) 3,941 10,765
Average of daily figures for
week ending on date
indicated
2001
Factor May 9 May 16 May 23
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 580,001 584,842 582,062
U.S. government securities(2)
2 Bought outright--System
account(3) 524,714 527,258 526,099
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 17,433 20,053 20,915
7 Acceptances 0 0 0
Loans to depository institu-
tions
8 Adjustment credit 8 525 3
9 Seasonal credit 69 88 83
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 257 -153 130
13 Other Federal Reserve assets 37,511 37,061 34,823
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,447 32,475 32,504
ABSORBING RESERVE FUNDS
17 Currency in circulation 589,718 590,329 590,981
18 Reverse repurchase agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 518 517 511
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,053 5,169 4,993
21 Foreign 75 104 76
22 Service-related balances and
adjustments 6,877 6,843 7,087
23 Other 365 395 342
24 Other Federal Reserve
liabilities and capital 18,034 17,946 17,944
25 Reserve balances with Federal
Reserve Banks(5) 5,053 9,261 5,877
Average
of
daily
figures
for week
ending
on date End-of-month
indicated figures
2001
Factor May 30 Mar. Apr.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 590,572 581,870 587,708
U.S. government securities(2)
2 Bought outright--System
account(3) 529,168 523,862 525,911
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 26,534 21,995 25,007
7 Acceptances 0 0 0
Loans to depository institu-
tions
8 Adjustment credit 22 8 44
9 Seasonal credit 86 14 36
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float -507 180 -370
13 Other Federal Reserve assets 35,259 35,801 37,069
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,533 32,271 32,417(r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 594,970 585,853 588,191(r)
18 Reverse repurchase agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 510 478 516
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,148 5,657 7,894
21 Foreign 148 70 102
22 Service-related balances and
adjustments 6,879 6,757 7,241
23 Other 294 248 403
24 Other Federal Reserve
liabilities and capital 17,960 17,441 18,232
25 Reserve balances with Federal
Reserve Banks(5) 10,441 10,882 10,792
End-of-
month
figures Wednesday figures
2001
Factor May Apr. 18 Apr. 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 591,914 590,736 580,474
U.S. government securities(2)
2 Bought outright--System
account(3) 527,562 525,195 527,300
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 30,310 29,264 16,507
7 Acceptances 0 0 0
Loans to depository institu-
tions
8 Adjustment credit 67 11 32
9 Seasonal credit 86 37 34
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float -998 -274 -596
13 Other Federal Reserve assets 34,878 36,494 37,188
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,562 32,347(r) 32,382
ABSORBING RESERVE FUNDS
17 Currency in circulation 595,911 589,793(r) 588,831
18 Reverse repurchase agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 510 512 516
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 4,396 6,753 7,483
21 Foreign 85 107 121
22 Service-related balances and
adjustments 7,045 6,785 7,031
23 Other 321 335 330
24 Other Federal Reserve
liabilities and capital 17,845 17,677 17,660
25 Reserve balances with Federal
Reserve Banks(5) 11,609 14,368(r) 4,130
Wednesday figures
2001
Factor May 2 May 9 May 16
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 593,177 580,286 594,063
U.S. government securities(2)
2 Bought outright--System
account(3) 526,643 526,442 528,380
3 Held under repurchase
agreements 0 0 0
Federal agency obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 29,257 15,007 31,747
7 Acceptances 0 0 0
Loans to depository institu-
tions
8 Adjustment credit 10 12 24
9 Seasonal credit 54 83 86
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 4 977 -683
13 Other Federal Reserve assets 37,200 37,754 34,500
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,417 32,447 32,475
ABSORBING RESERVE FUNDS
17 Currency in circulation 590,197 591,330 591,648
18 Reverse repurchase agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 518 518 511
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,714 4,427 5,309
21 Foreign 115 89 76
22 Service-related balances and
adjustments 7,241 6,877 6,843
23 Other 369 355 355
24 Other Federal Reserve
liabilities and capital 17,792 17,685 17,654
25 Reserve balances with Federal
Reserve Banks(5) 16,895 4,697 17,389
Wednesday figures
Factor May 23 May 30
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 584,945 608,194
U.S. government securities(2)
2 Bought outright--System
account(3) 525,608 529,372
3 Held under repurchase
agreements 0 0
Federal agency obligations
4 Bought outright 10 10
5 Held under repurchase
agreements 0 0
6 Repurchase agreements--
triparty(4) 23,705 42,380
7 Acceptances 0 0
Loans to depository institu-
tions
8 Adjustment credit 1 1
9 Seasonal credit 84 89
10 Special Liquidity Facility
credit 0 0
11 Extended credit 0 0
12 Float 478 846
13 Other Federal Reserve assets 35,058 35,495
14 Gold stock 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200
16 Treasury currency outstanding 32,504 32,533
ABSORBING RESERVE FUNDS
17 Currency in circulation 593,311 596,594
18 Reverse repurchase agreements--
triparty(4) 0 0
19 Treasury cash holdings 510 510
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 4,788 4,301
21 Foreign 84 72
22 Service-related balances and
adjustments 7,087 6,879
23 Other 328 295
24 Other Federal Reserve
liabilities and capital 17,685 17,738
25 Reserve balances with Federal
Reserve Banks(5) 6,901 27,583
(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 1998 1999 2000
classification
Dec. Dec. Dec. Nov.
1 Reserve balances
with Reserve
Banks(2) 9,026 5,262 7,159 7,156
2 Total vault cash(3) 44,294 60,619 45,229(r) 44,636(r)
3 Applied vault
cash(4) 36,183 36,392 31,381 31,629
4 Surplus vault
cash(5) 8,111 24,227 13,848(r) 13,007(r)
5 Total reserves(6) 45,209 41,654 38,540 38,786
6 Required reserves 43,695 40,357 37,216 37,584
7 Excess reserve
balances at
Reserve
Banks(7) 1,514 1,297 1,325 1,201
8 Total borrowing at
Reserve Banks 117 320 210 283
9 Adjustment 101 179 99 124
10 Seasonal 15 67 111 159
11 Special Liquidity
Facility(8) 0 74 0 0
12 Extended
credit(9) 0 0 0 0
Prorated monthly averages of
biweekly averages
Reserve 2000 2001
classification
Dec. Jan. Feb. Mar.
1 Reserve balances
with Reserve
Banks(2) 7,159 7,190 6,615 6,737
2 Total vault cash(3) 45,229(r) 47,683(r) 48,517(r) 44,104(r)
3 Applied vault
cash(4) 31,381 32,601 32,734 30,978
4 Surplus vault
cash(5) 13,848(r) 15,083(r) 15,783(r) 13,127(r)
5 Total reserves(6) 38,540 39,791 39,349 37,715
6 Required reserves 37,216 38,538 37,917 36,329
7 Excess reserve
balances at
Reserve
Banks(7) 1,325 1,253 1,432 1,385
8 Total borrowing at
Reserve Banks 210 73 51 58
9 Adjustment 99 39 30 38
10 Seasonal 111 34 21 20
11 Special Liquidity
Facility(8) 0 0 ... ...
12 Extended
credit(9) 0 0 0 0
Biweekly averages
Prorated monthly of daily figures for
averages of two-week periods
biweekly ending on dates
averages indicated
Reserve 2001
classification
Apr.(r) May Feb. 7 Feb. 21
1 Reserve balances
with Reserve
Banks(2) 6,863 7,612 6,410 6,608
2 Total vault cash(3) 43,656 43,263 52,714(r) 48,624(r)
3 Applied vault
cash(4) 31,728 31,773 34,631 32,380
4 Surplus vault
cash(5) 11,929 11,490 18,083(r) 16,245(r)
5 Total reserves(6) 38,591 39,385 41,041 38,988
6 Required reserves 37,314 38,363 39,844 37,361
7 Excess reserve
balances at
Reserve
Banks(7) 1,277 1,022 1,196 1,627
8 Total borrowing at
Reserve Banks 51 213 34 38
9 Adjustment 15 134 9 18
10 Seasonal 35 79 25 20
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
Reserve 2001
classification
Mar. 7 Mar. 21 Apr. 4 Apr. 18(r)
1 Reserve balances
with Reserve
Banks(2) 6,836 6,296 7,287 6,326
2 Total vault cash(3) 44,107(r) 43,875(r) 44,424(r) 43,409
3 Applied vault
cash(4) 31,547 30,304 31,523 31,199
4 Surplus vault
cash(5) 12,561(r) 13,571(r) 12,902(r) 12,210
5 Total reserves(6) 38,382 36,600 38,809 37,525
6 Required reserves 37,103 35,419 37,062 36,329
7 Excess reserve
balances at
Reserve
Banks(7) 1,279 1,180 1,747 1,196
8 Total borrowing at
Reserve Banks 95 38 60 42
9 Adjustment 76 17 42 4
10 Seasonal 19 21 18 38
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
Reserve 2001
classification
May 2 May 16 May 30 June 13
1 Reserve balances
with Reserve
Banks(2) 7,350(r) 7,159 8,163 6,768
2 Total vault cash(3) 43,690(r) 42,645 43,900 42,155
3 Applied vault
cash(4) 32,413 31,033 32,530 30,271
4 Surplus vault
cash(5) 11,277(r) 11,612 11,370 11,884
5 Total reserves(6) 39,763(r) 38,191 40,693 37,039
6 Required reserves 38,549 37,303 39,581 35,776
7 Excess reserve
balances at
Reserve
Banks(7) 1,214(r) 888 1,112 1,262
8 Total borrowing at
Reserve Banks 59 346 97 295
9 Adjustment 20 267 13 195
10 Seasonal 39 79 85 101
11 Special Liquidity
Facility(8) ... ... ... ...
12 Extended
credit(9) 0 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) Seasonal credit(2)
Effec- Pre- Effec- Pre-
Federal On tive vious On tive vious
Reserve Bank 7/6/01 date rate 7/6/01 date rate
Boston 3.25 6/27/01 3.50 3.80 6/28/01 3.95
New York 3.25 6/27/01 3.50 3.80 6/28/01 3.95
Philadelphia 3.25 6/27/01 3.50 3.80 6/28/01 3.95
Cleveland 3.25 6/28/01 3.50 3.80 6/28/01 3.95
Richmond 3.25 6/28/01 3.50 3.80 6/28/01 3.95
Atlanta 3.25 6/27/01 3.50 3.80 6/28/01 3.95
Chicago 3.25 6/27/01 3.50 3.80 6/28/01 3.95
St. Louis 3.25 6/29/01 3.50 3.80 6/28/01 3.95
Minneapolis 3.25 6/28/01 3.50 3.80 6/28/01 3.95
Kansas City 3.25 6/28/01 3.50 3.80 6/28/01 3.95
Dallas 3.25 6/27/01 3.50 3.80 6/28/01 3.95
San Francisco 3.25 6/27/01 3.50 3.80 6/28/01 3.95
Current and previous levels
Extended credit(3)
Federal On
Reserve Bank 7/6/01 Effective date Previous rate
Boston 4.30 6/28/01 4.45
New York 4.30 6/28/01 4.45
Philadelphia 4.30 6/28/01 4.45
Cleveland 4.30 6/28/01 4.45
Richmond 4.30 6/28/01 4.45
Atlanta 4.30 6/28/01 4.45
Chicago 4.30 6/28/01 4.45
St. Louis 4.30 6/28/01 4.45
Minneapolis 4.30 6/28/01 4.45
Kansas City 4.30 6/28/01 4.45
Dallas 4.30 6/28/01 4.45
San Francisco 4.30 6/28/01 4.45
Range of rates for adjustment credit in recent years(4)
Range (or F.R. Bank
Effective date level)--All of
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 5.0-5.25 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
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
May 15 3.50-4.00 3.50
17 3.50 3.50
June 27 3.25-3.50 3.25
June 29 3.25 3.25
In effect July 6, 2001 3.25 3.25
(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
Percentage of Effective date
Type of deposit 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 1.5
years was reduced from 3 percent to 1.5 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 1.5 years was reduced from 3 percent to zero on
Jan. 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1.5 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 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS(1)
Millions of dollars
Type of transaction
and maturity 1998 1999 2000
U.S. TREASURY SECURITIES(2)
Outright transactions (excluding
matched transactions)
Treasury bills
1 Gross purchases 3,550 0 8,676
2 Gross sales 0 0 0
3 Exchanges 450,835 464,218 477,904
4 For new bills 450,835 464,218 477,904
5 Redemptions 2,000 0 24,522
Others within one year
6 Gross purchases 6,297 11,895 8,809
7 Gross sales 0 0 0
8 Maturity shifts 46,062 50,590 62,025
9 Exchanges -49,434 -53,315 -54,656
10 Redemptions 2,676 1,429 3,779
One to five years
11 Gross purchases 12,901 19,731 14,482
12 Gross sales 0 0 0
13 Maturity shifts -37,777 -44,032 -52,068
14 Exchanges 37,154 42,604 46,177
Five to ten years
15 Gross purchases 2,294 4,303 5,871
16 Gross sales 0 0 0
17 Maturity shifts -5,908 -5,841 -6,801
18 Exchanges 7,439 7,583 6,585
More than ten years
19 Gross purchases 4,884 9,428 5,833
20 Gross sales 0 0 0
21 Maturity shifts -2,377 -717 -3,155
22 Exchanges 4,842 3,139 1,894
All maturities
23 Gross purchases 29,926 45,357 43,670
24 Gross sales 0 0 0
25 Redemptions 4,676 1,429 28,301
Matched transactions
26 Gross purchases 4,430,457 4,413,430 4,399,257
27 Gross sales 4,434,358 4,431,685 4,381,188
Repurchase agreements
28 Gross purchases 512,671 281,599 0
29 Gross sales 514,186 301,273 0
30 Net change in U.S. Treasury
securities 19,835 5,999 33,439
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 25 0 0
33 Redemptions 322 157 51
Repurchase agreements
34 Gross purchases 284,316 360,069 0
35 Gross sales 276,266 370,772 0
36 Net change in federal agency
obligations 7,703 -10,859 -51
Reverse repurchase agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 0 304,989 890,236
40 Gross sales 0 164,349 987,501
41 Net change in triparty
obligations 0 140,640 -97,265
42 Total net change in System Open
Market Account 27,538 135,780 -63,877
2000
Type of transaction
and maturity
Oct. Nov. Dec.
U.S. TREASURY SECURITIES(2)
Outright transactions (excluding
matched transactions)
Treasury bills
1 Gross purchases 779 2,507 509
2 Gross sales 0 0 0
3 Exchanges 38,142 45,182 39,428
4 For new bills 38,142 45,182 39,428
5 Redemptions 2,656 1,021 1,145
Others within one year
6 Gross purchases 0 580 1,420
7 Gross sales 0 0 0
8 Maturity shifts 8,663 7,957 0
9 Exchanges -6,608 -7,012 0
10 Redemptions 787 780 0
One to five years
11 Gross purchases 734 1,332 1,045
12 Gross sales 0 0 0
13 Maturity shifts -8,663 -5,997 0
14 Exchanges 6,608 5,737 0
Five to ten years
15 Gross purchases 0 510 771
16 Gross sales 0 0 0
17 Maturity shifts 0 -699 0
18 Exchanges 0 1,275 0
More than ten years
19 Gross purchases 982 0 0
20 Gross sales 0 0 0
21 Maturity shifts 0 -1,261 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 2,495 4,929 3,745
24 Gross sales 0 0 0
25 Redemptions 3,443 1,802 1,145
Matched transactions
26 Gross purchases 344,920 351,391 345,680
27 Gross sales 346,428 351,232 348,917
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S. Treasury
securities -2,457 3,286 -637
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0
35 Gross sales 0 0 0
36 Net change in federal agency
obligations 0 0 0
Reverse repurchase agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 64,428 87,125 95,470
40 Gross sales 62,308 79,295 79,365
41 Net change in triparty
obligations 2,120 7,830 16,105
42 Total net change in System Open
Market Account -337 11,116 15,468
2001
Type of transaction
and maturity
Jan. Feb.
U.S. TREASURY SECURITIES(2)
Outright transactions (excluding
matched transactions)
Treasury bills
1 Gross purchases 520 2,683
2 Gross sales 0 0
3 Exchanges 40,769 42,767
4 For new bills 40,769 42,767
5 Redemptions 228 638
Others within one year
6 Gross purchases 0 1,605
7 Gross sales 0 0
8 Maturity shifts 10,296(r) 5,609(r)
9 Exchanges -6,667 -6,799
10 Redemptions 2,422 1,529
One to five years
11 Gross purchases 925 2,983
12 Gross sales 0 0
13 Maturity shifts -10,296(r) -2,784(r)
14 Exchanges 6,667 4,945
Five to ten years
15 Gross purchases 1,283 0
16 Gross sales 0 0
17 Maturity shifts 0 -1,855(r)
18 Exchanges 0 971
More than ten years
19 Gross purchases 296 495
20 Gross sales 0 0
21 Maturity shifts 0 -971(r)
22 Exchanges 0 883
All maturities
23 Gross purchases 3,024 7,766
24 Gross sales 0 0
25 Redemptions 2,650 2,166
Matched transactions
26 Gross purchases 356,250 320,060
27 Gross sales 352,336 322,056
Repurchase agreements
28 Gross purchases 0 0
29 Gross sales 0 0
30 Net change in U.S. Treasury
securities 4,289 3,604
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0
32 Gross sales 0 0
33 Redemptions 0 120
Repurchase agreements
34 Gross purchases 0 0
35 Gross sales 0 0
36 Net change in federal agency
obligations 0 -120
Reverse repurchase agreements
37 Gross purchases 0 0
38 Gross sales 0 0
Repurchase agreements
39 Gross purchases 104,930 67,655
40 Gross sales 129,385 62,910
41 Net change in triparty
obligations -24,455 4,745
42 Total net change in System Open
Market Account -20,166 8,229
2001
Type of transaction
and maturity
Mar. Apr.
U.S. TREASURY SECURITIES(2)
Outright transactions (excluding
matched transactions)
Treasury bills
1 Gross purchases 579 308
2 Gross sales 0 0
3 Exchanges 46,712 38,317
4 For new bills 46,712 38,317
5 Redemptions 211 3,537
Others within one year
6 Gross purchases 67 3,027
7 Gross sales 0 0
8 Maturity shifts 0 12,204
9 Exchanges 0 -7,000
10 Redemptions 0 4,368
One to five years
11 Gross purchases 1,883 4,480
12 Gross sales 0 0
13 Maturity shifts 0 -12,204
14 Exchanges 0 7,000
Five to ten years
15 Gross purchases 0 1,390
16 Gross sales 0 0
17 Maturity shifts 0 0
18 Exchanges 0 0
More than ten years
19 Gross purchases 1,000 913
20 Gross sales 0 0
21 Maturity shifts 0 0
22 Exchanges 0 0
All maturities
23 Gross purchases 3,529 10,118
24 Gross sales 0 0
25 Redemptions 211 7,905
Matched transactions
26 Gross purchases 396,029 381,667
27 Gross sales 395,151 381,895
Repurchase agreements
28 Gross purchases 0 0
29 Gross sales 0 0
30 Net change in U.S. Treasury
securities 4,196 1,984
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0
32 Gross sales 0 0
33 Redemptions 0 0
Repurchase agreements
34 Gross purchases 0 0
35 Gross sales 0 0
36 Net change in federal agency
obligations 0 0
Reverse repurchase agreements
37 Gross purchases 0 0
38 Gross sales 0 0
Repurchase agreements
39 Gross purchases 86,472 85,166
40 Gross sales 88,142 82,154
41 Net change in triparty
obligations -1,670 3,012
42 Total net change in System Open
Market Account 2,526 4,996
(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 2001
May 2 May 9 May 16
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,046 11,046 11,046
2 Special drawing rights certificate
account 2,200 2,200 2,200
3 Coin 1,117 1,110 1,103
Loans
4 To depository institutions 63 95 110
5 Other 0 0 0
6 Acceptances held under repurchase
agreements 0 0 0
Triparty Obligations
7 Repurchase agreements--triparty(2) 29,257 15,007 31,747
Federal agency obligations(3)
8 Bought outright 10 10 10
9 Held under repurchase agreements 0 0 0
10 Total U.S. Treasury securities(3) 526,643 526,442 528,380
11 Bought outright(4) 526,643 526,442 528,380
12 Bill 181,516 178,908 178,708
13 Notes 247,967 249,369 251,534
14 Bonds 97,160 98,165 98,139
15 Held under repurchase agreements 0 0 0
16 Total loans and securities 555,973 541,554 560,247
17 Items in process of collection 9,512 8,911 7,869
18 Bank premises 1,498 1,499 1,499
Other assets
19 Denominated in foreign currencies(5) 14,768 14,774 14,780
20 All other(6) 20,734 21,281 18,132
21 Total assets 616,847 602,375 616,875
LIABILITIES
22 Federal Reserve notes 559,415 560,512 560,786
23 Reverse repurchase agreements--
triparty(2) 0 0 0
24 Total deposits 30,208 16,110 30,340
25 Depository institutions 24,010 11,240 24,600
26 U.S. Treasury--General account 5,714 4,427 5,309
27 Foreign--Official accounts 115 89 76
28 Other 369 355 355
29 Deferred credit items 9,432 8,067 8,095
30 Other liabilities and accrued
dividends(7) 3,510 3,461 3,418
31 Total liabilities 602,565 588,151 602,639
CAPITAL ACCOUNTS
32 Capital paid in 7,043 7,045 7,027
33 Surplus 6,445 6,479 6,508
34 Other capital accounts 794 701 701
35 Total liabilities and capital
accounts 616,847 602,375 616,875
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) 739,661 739,143 738,483
38 LESS: Held by Federal Reserve
Banks 180,246 178,631 177,696
39 Federal Reserve notes, net 559,415 560,512 560,786
Collateral held against notes, net
40 Gold certificate account 11,046 11,046 11,046
41 Special drawing rights certificate
account 2,200 2,200 2,200
42 Other eligible assets 0 5,808 0
43 U.S. Treasury and agency securities 546,169 541,459 547,541
44 Total collateral 559,415 560,512 560,786
End of
Wednesday month
Account 2001 2001
May 23 May 30 Mar. 31
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,046 11,046 11,046
2 Special drawing rights certificate
account 2,200 2,200 2,200
3 Coin 1,096 1,070 1,179
Loans
4 To depository institutions 85 90 22
5 Other 0 0 0
6 Acceptances held under repurchase
agreements 0 0 0
Triparty Obligations
7 Repurchase agreements--triparty(2) 23,705 42,380 21,995
Federal agency obligations(3)
8 Bought outright 10 10 10
9 Held under repurchase agreements 0 0 0
10 Total U.S. Treasury securities(3) 525,608 529,372 523,862
11 Bought outright(4) 525,608 529,372 523,862
12 Bill 175,026 178,786 184,244
13 Notes 252,354 252,357 243,661
14 Bonds 98,228 98,230 95,957
15 Held under repurchase agreements 0 0 0
16 Total loans and securities 549,408 571,853 545,889
17 Items in process of collection 7,633 10,612 6,292
18 Bank premises 1,499 1,499 1,487
Other assets
19 Denominated in foreign currencies(5) 14,787 14,793 14,554
20 All other(6) 18,587 19,020 19,748
21 Total assets 606,256 632,094 602,394
LIABILITIES
22 Federal Reserve notes 562,413 565,642 555,239
23 Reverse repurchase agreements--
triparty(2) 0 0 0
24 Total deposits 18,605 38,664 23,803
25 Depository institutions 13,406 33,995 17,828
26 U.S. Treasury--General account 4,788 4,301 5,657
27 Foreign--Official accounts 84 72 70
28 Other 328 295 248
29 Deferred credit items 7,553 10,050 5,911
30 Other liabilities and accrued
dividends(7) 3,398 3,390 3,858
31 Total liabilities 591,969 617,746 588,811
CAPITAL ACCOUNTS
32 Capital paid in 7,060 7,069 7,029
33 Surplus 6,542 6,566 6,217
34 Other capital accounts 685 712 336
35 Total liabilities and capital
accounts 606,256 632,094 602,394
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) 737,903 737,129 741,342
38 LESS: Held by Federal Reserve
Banks 175,490 171,487 186,103
39 Federal Reserve notes, net 562,413 565,642 555,239
Collateral held against notes, net
40 Gold certificate account 11,046 11,046 11,046
41 Special drawing rights certificate
account 2,200 2,200 2,200
42 Other eligible assets 0 0 0
43 U.S. Treasury and agency securities 549,167 552,396 541,993
44 Total collateral 562,413 565,642 555,239
End of month
Account 2001
Apr. 30 May 31
Consolidated
condition
statement
ASSETS
1 Gold certificate account 11,046 11,046
2 Special drawing rights certificate
account 2,200 2,200
3 Coin 1,129 1,075
Loans
4 To depository institutions 80 154
5 Other 0 0
6 Acceptances held under repurchase
agreements 0 0
Triparty Obligations
7 Repurchase agreements--triparty(2) 25,007 30,310
Federal agency obligations(3)
8 Bought outright 10 10
9 Held under repurchase agreements 0 0
10 Total U.S. Treasury securities(3) 525,911 527,562
11 Bought outright(4) 525,911 527,562
12 Bill 180,787 177,911
13 Notes 247,965 251,415
14 Bonds 97,159 98,236
15 Held under repurchase agreements 0 0
16 Total loans and securities 551,008 558,035
17 Items in process of collection 2,569 7,670
18 Bank premises 1,497 1,504
Other assets
19 Denominated in foreign currencies(5) 14,766 14,759
20 All other(6) 20,602 18,441
21 Total assets 604,818 614,730
LIABILITIES
22 Federal Reserve notes 557,418 564,934
23 Reverse repurchase agreements--
triparty(2) 0 0
24 Total deposits 26,571 24,040
25 Depository institutions 18,172 19,238
26 U.S. Treasury--General account 7,894 4,396
27 Foreign--Official accounts 102 85
28 Other 403 321
29 Deferred credit items 2,596 7,910
30 Other liabilities and accrued
dividends(7) 3,520 3,467
31 Total liabilities 590,105 600,351
CAPITAL ACCOUNTS
32 Capital paid in 7,043 7,070
33 Surplus 6,371 6,557
34 Other capital accounts 1,299 751
35 Total liabilities and capital
accounts 604,818 614,730
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) 739,839 736,954
38 LESS: Held by Federal Reserve
Banks 182,421 172,020
39 Federal Reserve notes, net 557,418 564,934
Collateral held against notes, net
40 Gold certificate account 11,046 11,046
41 Special drawing rights certificate
account 2,200 2,200
42 Other eligible assets 0 0
43 U.S. Treasury and agency securities 544,172 551,689
44 Total collateral 557,418 564,934
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 2001
May 2 May 9 May 16 May 23
1 Total loans 63 95 109 85
2 Within fifteen days(2) 15 27 50 81
3 Sixteen days to ninety days 48 69 59 4
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities(3) 526,643 526,442 528,380 525,608
6 Within fifteen days(2) 21,550 21,156 19,176 19,531
7 Sixteen days to ninety days 116,637 116,387 112,824 111,343
8 Ninety-one days to one year 122,016 121,476 123,384 120,829
9 One year to five years 135,551 135,551 140,735 141,640
10 Five years to ten years 56,338 56,340 57,502 57,505
11 More than ten years 74,552 75,531 74,759 74,760
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days(2) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
Wed-
nesday End of month(1)
Type of holding and maturity 2001 2001
May 30 Mar. 31 Apr. 30 May 31
1 Total loans 91 22 80 154
2 Within fifteen days(2) 86 22 72 132
3 Sixteen days to ninety days 5 0 8 21
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities(3) 529,372 523,861 525,912 527,562
6 Within fifteen days(2) 18,608 9,959 18,127 4,645
7 Sixteen days to ninety days 116,467 126,988 113,525 115,568
8 Ninety-one days to one year 120,387 122,234 127,821 135,422
9 One year to five years 141,641 136,157 135,551 139,658
10 Five years to ten years 57,507 54,923 56,337 57,508
11 More than ten years 74,762 73,600 74,551 74,762
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days(2) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
(1.) Denotes last calendar day of the month, but data reflect
last Wednesday of the month.
(2.) Holdings under repurchase agreements are classified as
maturing within fifteen days in accordance with maximum
maturity of the agreements.
(3.) 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
1997 1998 1999
Item Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 46.85 45.18 41.78
2 Nonborrowed reserves(4) 46.52 45.07 41.46
3 Nonborrowed reserves plus
extended credit(5) 46.52 45.07 41.46
4 Required reserves 45.16 43.67 40.48
5 Monetary base(6) 479.47 513.49 593.09
Not seasonally adjusted
6 Total reserves(7) 48.01 45.31 41.89
7 Nonborrowed reserves 47.69 45.19 41.57
8 Nonborrowed reserves plus
extended credit(5) 47.69 45.19 41.57
9 Required reserves(8) 46.33 43.80 40.59
10 Monetary base(9) 484.98 518.27 600.72
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 47.92 45.21 41.65
12 Nonborrowed reserves 47.60 45.09 41.33
13 Nonborrowed reserves plus
extended credit(5) 47.60 45.09 41.33
14 Required reserves 46.24 43.70 40.36
15 Monetary base(12) 491.79 525.06 608.02
16 Excess reserves(13) 1.69 1.51 1.30
17 Borrowings from the
Federal Reserve .32 .12 .32
2000
2000
Item Dec.
Oct. Nov.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 38.51 39.02 39.02
2 Nonborrowed reserves(4) 38.30 38.60 38.74
3 Nonborrowed reserves plus
extended credit(5) 38.30 38.60 38.74
4 Required reserves 37.18 37.87 37.82
5 Monetary base(6) 583.96(r) 579.70 581.40
Not seasonally adjusted
6 Total reserves(7) 38.60 38.84 38.85
7 Nonborrowed reserves 38.39 38.42 38.56
8 Nonborrowed reserves plus
extended credit(5) 38.39 38.42 38.56
9 Required reserves(8) 37.27 37.69 37.65
10 Monetary base(9) 590.20 578.29 582.36
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 38.54 38.78 38.79
12 Nonborrowed reserves 38.33 38.36 38.50
13 Nonborrowed reserves plus
extended credit(5) 38.33 38.36 38.50
14 Required reserves 37.22 37.63 37.58
15 Monetary base(12) 597.12 585.01 589.12
16 Excess reserves(13) 1.33 1.15 1.20
17 Borrowings from the
Federal Reserve .21 .42 .28
2000 2001
Item Dec. Jan. Feb.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 38.51 38.83 38.87
2 Nonborrowed reserves(4) 38.30 38.75 38.82
3 Nonborrowed reserves plus
extended credit(5) 38.30 38.75 38.82
4 Required reserves 37.18 37.57 37.43
5 Monetary base(6) 583.96(r) 589.39(r) 591.12(r)
Not seasonally adjusted
6 Total reserves(7) 38.60 39.78 39.38
7 Nonborrowed reserves 38.39 39.70 39.33
8 Nonborrowed reserves plus
extended credit(5) 38.39 39.70 39.33
9 Required reserves(8) 37.27 38.52 37.95
10 Monetary base(9) 590.20 591.50 589.04
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 38.54 39.79 39.35
12 Nonborrowed reserves 38.33 39.72 39.30
13 Nonborrowed reserves plus
extended credit(5) 38.33 39.72 39.30
14 Required reserves 37.22 38.54 37.92
15 Monetary base(12) 597.12 598.38 595.59
16 Excess reserves(13) 1.33 1.25 1.43
17 Borrowings from the
Federal Reserve .21 .07 .05
2001
Item Mar. Apr. May
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 38.26 38.79 38.89
2 Nonborrowed reserves(4) 38.20 38.74 38.68
3 Nonborrowed reserves plus
extended credit(5) 38.20 38.74 38.68
4 Required reserves 36.87 37.51 37.87
5 Monetary base(6) 592.42(r) 595.92(r) 599.03
Not seasonally adjusted
6 Total reserves(7) 37.76 38.66 39.47
7 Nonborrowed reserves 37.71 38.61 39.25
8 Nonborrowed reserves plus
extended credit(5) 37.71 38.61 39.25
9 Required reserves(8) 36.38 37.38 38.44
10 Monetary base(9) 591.36 594.92(r) 598.54
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 37.72 38.59(r) 39.39
12 Nonborrowed reserves 37.66 38.54 39.17
13 Nonborrowed reserves plus
extended credit(5) 37.66 38.54 39.17
14 Required reserves 36.33 37.31(r) 38.36
15 Monetary base(12) 598.20 601.84(r) 605.45
16 Excess reserves(13) 1.39 1.28 1.02
17 Borrowings from the
Federal Reserve .06 .05 .21
(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
1997 1998 1999(r)
Item Dec. Dec. Dec.
Seasonally adjusted
Measures(2)
1 M1 1,073.4 1,097.0 1,124.8
2 M2 4,031.9(r) 4,385.9(r) 4,653.3
3 M3 5,430.8(r) 6,030.8(r) 6,530.6
4 Debt 15,223.2(r) 16,246.1(r) 17,315.1
M1 components
5 Currency(3) 424.3 459.2 516.7
6 Travelers checks(4) 8.1 8.2 8.2
7 Demand deposits(5) 395.4 379.4 356.1
8 Other checkable deposits(6) 245.7 250.1 243.7
Nontransaction components
9 In M2(7) 2,958.5(r) 3,288.9(r) 3,528.5
10 In M3 only(8) 1,399.0(r) 1,645.0(r) 1,877.3
Commercial banks
11 Savings deposits, including
MMDAs 1,021.1 1,185.8 1,287.0
12 Small time deposits(9) 625.5 626.4 635.2
13 Large time deposits(10, 11) 517.4(r) 575.2(r) 648.3
Thrift institutions
14 Savings deposits, including
MMDAs 376.8 414.1 449.3
15 Small time deposits(9) 342.9 325.8 320.9
16 Large time deposits(10) 85.5 88.7 91.3
Money market mutual funds
17 Retail 592.1(r) 736.8(r) 836.2
18 Institution-only 391.8(r) 531.8(r) 623.5
Repurchase agreements
and eurodollars
19 Repurchase agreements(12) 254.3 297.5 340.8
20 Eurodollars(12) 150.0 151.8 173.3
Debt components
21 Federal debt 3,800.6 3,751.2 3,660.3
22 Nonfederal debt 11,422.6(r) 12,494.9(r) 13,654.9
Not seasonally adjusted
Measures(2)
23 M1 1,096.9 1,120.4 1,148.3
24 M2 4,053.2(r) 4,408.2(r) 4,677.3
25 M3 5,456.2(r) 6,062.9(r) 6,568.1
26 Debt 15,218.9(r) 16,241.4(r) 17,310.5
M1 components
27 Currency(3) 428.1 463.3 521.5
28 Travelers checks(4) 8.3 8.4 8.4
29 Demand deposits(5) 412.4 395.9 371.7
30 Other checkable deposits(6) 248.2 252.8 246.6
Nontransaction components
31 In M2(7) 2,956.3(r) 3,287.8(r) 3,529.1
32 In M3 only(8) 1,403.0(r) 1,654.8(r) 1,890.7
Commercial banks
33 Savings deposits, including
MMDAs 1,020.4 1,186.0 1,288.5
34 Small time deposits(9) 625.3 626.5 635.4
35 Large time deposits(10, 11) 516.8(r) 574.5(r) 647.7
Thrift institutions
36 Savings deposits, including
MMDAs 376.5 414.2 449.8
37 Small time deposits(9) 342.8 325.8 321.0
38 Large time deposits(10) 85.4 88.6 91.2
Money market mutual funds
39 Retail 591.3(r) 735.2(r) 834.3
40 Institution-only 398.9(r) 543.7(r) 638.4
Repurchase agreements
and eurodollars
41 Repurchase agreements(12) 249.5 293.4 337.4
42 Eurodollars(12) 152.3 154.5 176.0
Debt components
43 Federal debt 3,805.8 3,754.9 3,663.2
44 Nonfederal debt 11,413.1(r) 12,486.5(r) 13,647.3
2001
2000(r)
Item Dec.
Feb.(r) Mar.(r)
Seasonally adjusted
Measures(2)
1 M1 1,088.2 1,100.4 1,113.1
2 M2 4,945.2 5,040.6 5,101.1
3 M3 7,100.4 7,252.7 7,310.2
4 Debt 18,222.1 18,347.9 18,440.4
M1 components
5 Currency(3) 529.9 537.7 539.8
6 Travelers checks(4) 8.0 8.0 7.9
7 Demand deposits(5) 311.3 313.4 316.5
8 Other checkable deposits(6) 239.0 241.4 248.9
Nontransaction components
9 In M2(7) 3,857.0 3,940.2 3,988.0
10 In M3 only(8) 2,155.1 2,212.0 2,209.2
Commercial banks
11 Savings deposits, including
MMDAs 1,421.7 1,467.6 1,491.7
12 Small time deposits(9) 699.7 700.0 695.9
13 Large time deposits(10, 11) 726.5 704.9 677.4
Thrift institutions
14 Savings deposits, including
MMDAs 451.9 462.0 471.1
15 Small time deposits(9) 346.6 350.6 349.6
16 Large time deposits(10) 103.2 106.6 106.8
Money market mutual funds
17 Retail 937.2 960.1 979.8
18 Institution-only 768.3 858.9 888.0
Repurchase agreements
and eurodollars
19 Repurchase agreements(12) 360.2 346.0 339.0
20 Eurodollars(12) 197.1 195.6 198.0
Debt components
21 Federal debt 3,400.5 3,372.1 3,375.4
22 Nonfederal debt 14,821.6 14,975.9 15,065.0
Not seasonally adjusted
Measures(2)
23 M1 1,112.4 1,087.8 1,107.8
24 M2 4,973.8 5,039.4 5,135.6
25 M3 7,145.5 7,287.5 7,372.4
26 Debt 18,214.7 18,343.3 18,439.4
M1 components
27 Currency(3) 535.2 536.2 539.8
28 Travelers checks(4) 8.1 8.2 8.0
29 Demand deposits(5) 326.6 304.3 311.4
30 Other checkable deposits(6) 242.5 239.2 248.6
Nontransaction components
31 In M2(7) 3,861.4 3,951.6 4,027.8
32 In M3 only(8) 2,171.6 2,248.1 2,236.8
Commercial banks
33 Savings deposits, including
MMDAs 1,426.4 1,459.3 1,498.5
34 Small time deposits(9) 699.9 702.3 697.7
35 Large time deposits(10, 11) 725.8 705.3 682.8
Thrift institutions
36 Savings deposits, including
MMDAs 453.4 459.4 473.2
37 Small time deposits(9) 346.8 351.7 350.5
38 Large time deposits(10) 103.1 106.7 107.6
Money market mutual funds
39 Retail 935.0 978.8 1,007.9
40 Institution-only 786.2 888.9 905.6
Repurchase agreements
and eurodollars
41 Repurchase agreements(12) 357.1 350.5 341.7
42 Eurodollars(12) 199.5 196.7 199.0
Debt components 3,403.5 3,368.7 3,392.5
43 Federal debt
44 Nonfederal debt 14,811.2 14,974.6 15,046.8
2001
Item Apr.(r) May
Seasonally adjusted
Measures(2)
1 M1 1,118.0 1,117.4
2 M2 5,145.1 5,167.0
3 M3 7,417.7 7,500.2
4 Debt 18,492.4 n.a.
M1 components
5 Currency(3) 542.6 546.1
6 Travelers checks(4) 7.8 8.0
7 Demand deposits(5) 313.0 312.3
8 Other checkable deposits(6) 254.8 251.1
Nontransaction components
9 In M2(7) 4,027.1 4,049.6
10 In M3 only(8) 2,272.6 2,333.2
Commercial banks
11 Savings deposits, including
MMDAs 1,517.0 1,539.7
12 Small time deposits(9) 690.5 685.2
13 Large time deposits(10, 11) 697.5 702.6
Thrift institutions
14 Savings deposits, including
MMDAs 475.1 487.9
15 Small time deposits(9) 349.9 351.9
16 Large time deposits(10) 108.6 110.4
Money market mutual funds
17 Retail 994.6 984.8
18 Institution-only 919.4 970.9
Repurchase agreements
and eurodollars
19 Repurchase agreements(12) 359.2 360.2
20 Eurodollars(12) 187.8 189.1
Debt components
21 Federal debt 3,344.7 n.a.
22 Nonfederal debt 15,147.7 n.a.
Not seasonally
adjusted
Measures(2)
23 M1 1,123.2 1,111.4
24 M2 5,209.1 5,143.0
25 M3 7,480.4 7,475.8
26 Debt 18,464.5 n.a.
M1 components
27 Currency(3) 543.0 546.1
28 Travelers checks(4) 7.9 8.0
29 Demand deposits(5) 313.0 307.2
30 Other checkable deposits(6) 259.3 250.1
Nontransaction components
31 In M2(7) 4,085.9 4,031.5
32 In M3 only(8) 2,271.3 2,332.8
Commercial banks
33 Savings deposits, including
MMDAs 1,542.1 1,535.3
34 Small time deposits(9) 691.1 682.9
35 Large time deposits(10, 11) 702.4 708.4
Thrift institutions
36 Savings deposits, including
MMDAs 482.9 486.5
37 Small time deposits(9) 350.2 350.7
38 Large time deposits(10) 109.4 111.3
Money market mutual funds
39 Retail 1,019.6 976.0
40 Institution-only 915.3 957.1
Repurchase agreements
and eurodollars
41 Repurchase agreements(12) 355.9 365.1
42 Eurodollars(12) 188.4 190.9
Debt components 3,341.0 n.a.
43 Federal debt
44 Nonfederal debt 15,123.4 n.a.
(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
2000 2000(r)
Account May Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 5,005.8 5,166.5 5,216.3
2 Securities in bank credit 1,311.1(r) 1,311.4 1,335.4
3 U.S. government securities 819.0 785.9 788.7
4 Other securities 492.1(r) 525.4 546.7
5 Loans and leases in bank
credit(2) 3,694.7(r) 3,855.2 3,880.9
6 Commercial and industrial 1,059.0 1,084.6 1,090.3
7 Real estate 1,577.0 1,649.8 1,655.5
8 Revolving home equity 114.2 128.1 131.2
9 Other 1,462.7 1,521.7 1,524.3
10 Consumer 511.1(r) 537.2 542.3
11 Security(3) 148.7 165.0 168.7
12 Other loans and leases 398.9 418.6 424.2
13 Interbank loans 227.8 245.9 252.2
14 Cash assets(4) 273.7 256.1 267.2
15 Other assets(5) 378.9 402.7 397.1
16 Total assets(6) 5,826.3 6,008.5 6,068.9
Liabilities
17 Deposits 3,630.8(r) 3,781.1 3,847.6
18 Transaction 629.8 601.2 601.9
19 Nontransaction 3,001.0(r) 3,179.8 3,245.7
20 Large time 877.6 917.4 934.7
21 Other 2,123.5(r) 2,262.5 2,311.0
22 Borrowings 1,204.6 1,202.9 1,242.4
23 From banks in the U.S. 382.0 368.7 396.7
24 From others 822.6 834.2 845.7
25 Net due to related foreign
offices 254.8 244.3 225.8
26 Other liabilities 313.5 347.2 345.4
27 Total liabilities 5,403.7(r) 5,575.4 5,661.3
28 Residual (assets less
liabilities)(7) 422.5(r) 433.1 407.6
Not seasonally adjusted
Assets
29 Bank credit 4,998.0 5,185.7 5,252.7
30 Securities in bank credit 1,311.0(r) 1,315.4 1,341.0
31 U.S. government securities 820.3 787.0 788.5
32 Other securities 490.6(r) 528.4 552.5
33 Loans and leases in bank
credit(2) 3,687.1(r) 3,870.3 3,911.7
34 Commercial and industrial 1,061.5 1,085.7 1,092.5
35 Real estate 1,577.2 1,655.3 1,660.1
36 Revolving home equity 114.2 128.8 131.3
37 Other 1,463.0 1,526.5 1,528.8
38 Consumer 510.0(r) 537.6 548.2
39 Credit cards and related n.a. 209.3 218.2
plans
40 Other n.a. 328.2 329.9
41 Security(3) 143.3 171.0 180.8
42 Other loans and leases 395.0 420.7 430.2
43 Interbank loans 226.7 252.6 260.9
44 Cash assets(4) 271.8 263.1 286.5
45 Other assets(5) 379.0 402.4 403.3
46 Total assets(6) 5,815.5 6,041.0 6,139.5
Liabilities
47 Deposits 3,619.1(r) 3,803.1 3,894.2
48 Transaction 619.9 607.4 631.1
49 Nontransaction 2,999.2(r) 3,195.6 3,263.0
50 Large time 876.5 924.8 948.6
51 Other 2,122.7(r) 2,270.9 2,314.4
52 Borrowings 1,211.2 1,211.3 1,245.3
53 From banks in the U.S. 385.7 369.5 398.6
54 From others 825.5 841.8 846.7
55 Net due to related foreign
offices 254.6 246.6 230.6
56 Other liabilities 314.3 349.1 347.9
57 Total liabilities 5,399.2(r) 5,610.1 5,718.0
58 Residual (assets less
liabilities)(7) 416.3(r) 430.9 421.5
Monthly averages
2001
Account Jan.(r) Feb.(r) Mar.(r)
Seasonally adjusted
Assets
1 Bank credit 5,265.0 5,275.9 5,287.2
2 Securities in bank credit 1,356.4 1,350.8 1,345.3
3 U.S. government securities 786.2 777.5 758.5
4 Other securities 570.2 573.3 586.8
5 Loans and leases in bank
credit(2) 3,908.6 3,925.1 3,941.9
6 Commercial and industrial 1,103.9 1,110.1 1,109.6
7 Real estate 1,657.8 1,668.5 1,676.5
8 Revolving home equity 133.6 135.3 137.2
9 Other 1,524.2 1,533.2 1,539.3
10 Consumer 547.0 546.5 544.9
11 Security(3) 169.9 168.2 173.5
12 Other loans and leases 429.9 431.8 437.5
13 Interbank loans 270.4 267.2 276.1
14 Cash assets(4) 273.3 265.5 268.4
15 Other assets(5) 412.2 414.2 430.4
16 Total assets(6) 6,156.2 6,157.7 6,197.3
Liabilities
17 Deposits 3,892.0 3,890.6 3,925.0
18 Transaction 608.2 607.7 606.9
19 Nontransaction 3,283.8 3,282.9 3,318.2
20 Large time 941.7 936.9 934.9
21 Other 2,342.1 2,346.0 2,383.2
22 Borrowings 1,264.2 1,259.3 1,243.5
23 From banks in the U.S. 397.3 396.2 395.4
24 From others 867.0 863.1 848.1
25 Net due to related foreign
offices 221.2 219.4 233.2
26 Other liabilities 364.8 343.2 355.1
27 Total liabilities 5,742.3 5,712.4 5,756.8
28 Residual (assets less
liabilities)(7) 413.9 445.4 440.5
Not seasonally adjusted
Assets
29 Bank credit 5,279.9 5,270.9 5,274.5
30 Securities in bank credit 1,361.6 1,352.5 1,349.4
31 U.S. government securities 788.4 779.2 764.4
32 Other securities 573.2 573.3 585.0
33 Loans and leases in bank
credit(2) 3,918.2 3,918.4 3,925.1
34 Commercial and industrial 1,101.1 1,109.5 1,111.1
35 Real estate 1,656.9 1,661.9 1,669.1
36 Revolving home equity 132.8 134.1 135.5
37 Other 1,524.1 1,527.8 1,533.5
38 Consumer 551.4 547.1 541.1
39 Credit cards and related 218.3 213.4 209.1
plans
40 Other 333.0 333.8 331.9
41 Security(3) 177.7 171.0 169.6
42 Other loans and leases 431.1 428.8 434.2
43 Interbank loans 272.4 269.0 283.5
44 Cash assets(4) 289.4 266.5 258.5
45 Other assets(5) 414.0 413.3 429.7
46 Total assets(6) 6,191.3 6,154.8 6,181.3
Liabilities
47 Deposits 3,906.8 3,907.5 3,935.4
48 Transaction 620.0 599.5 600.9
49 Nontransaction 3,286.9 3,308.0 3,334.5
50 Large time 954.8 948.5 938.1
51 Other 2,332.1 2,359.5 2,396.4
52 Borrowings 1,281.5 1,262.9 1,241.9
53 From banks in the U.S. 403.5 400.6 399.0
54 From others 878.0 862.3 842.9
55 Net due to related foreign
offices 225.4 225.5 232.2
56 Other liabilities 367.2 347.2 353.8
57 Total liabilities 5,780.9 5,743.0 5,763.3
58 Residual (assets less
liabilities)(7) 410.4 411.8 418.0
Wednesday
figures
2001 2001
Account Apr.(r) May May 9
Seasonally adjusted
Assets
1 Bank credit 5,309.1 5,318.0 5,320.4
2 Securities in bank credit 1,360.8 1,369.2 1,367.0
3 U.S. government securities 766.6 769.3 764.6
4 Other securities 594.2 599.9 602.4
5 Loans and leases in bank
credit(2) 3,948.3 3,948.8 3,953.4
6 Commercial and industrial 1,106.2 1,103.2 1,106.6
7 Real estate 1,683.0 1,693.5 1,697.6
8 Revolving home equity 138.0 139.3 139.1
9 Other 1,545.1 1,554.3 1,558.5
10 Consumer 549.3 553.0 549.0
11 Security(3) 174.1 163.0 165.6
12 Other loans and leases 435.7 436.1 434.6
13 Interbank loans 293.2 287.1 290.8
14 Cash assets(4) 270.6 263.7 260.2
15 Other assets(5) 429.8 423.8 430.5
16 Total assets(6) 6,237.5 6,227.4 6,236.8
Liabilities
17 Deposits 3,987.5 4,000.9 3,959.6
18 Transaction 610.3 613.0 586.1
19 Nontransaction 3,377.2 3,388.0 3,373.5
20 Large time 947.8 962.2 937.8
21 Other 2,429.4 2,425.8 2,435.7
22 Borrowings 1,278.2 1,247.6 1,264.0
23 From banks in the U.S. 404.8 385.1 384.6
24 From others 873.4 862.5 879.4
25 Net due to related foreign
offices 189.7 207.1 220.3
26 Other liabilities 348.8 339.0 350.3
27 Total liabilities 5,804.2 5,794.7 5,794.1
28 Residual (assets less
liabilities)(7) 433.3 432.7 442.7
Not seasonally adjusted
Assets
29 Bank credit 5,301.5 5,307.2 5,312.4
30 Securities in bank credit 1,362.4 1,368.4 1,367.1
31 U.S. government securities 771.5 770.2 765.6
32 Other securities 590.9 598.2 601.5
33 Loans and leases in bank
credit(2) 3,939.1 3,938.8 3,945.3
34 Commercial and industrial 1,110.9 1,105.5 1,111.6
35 Real estate 1,678.7 1,693.9 1,698.1
36 Revolving home equity 137.0 139.3 139.1
37 Other 1,541.7 1,554.6 1,559.0
38 Consumer 546.1 550.8 546.8
39 Credit cards and related 214.2 218.8 215.1
plans
40 Other 331.9 332.0 331.7
41 Security(3) 169.8 157.0 158.7
42 Other loans and leases 433.6 431.7 430.1
43 Interbank loans 299.3 280.3 285.9
44 Cash assets(4) 266.4 261.7 249.4
45 Other assets(5) 429.6 424.0 433.7
46 Total assets(6) 6,231.9 6,208.1 6,216.1
Liabilities
47 Deposits 4,006.7 3,988.9 3,952.2
48 Transaction 616.5 603.2 569.3
49 Nontransaction 3,390.2 3,385.7 3,382.8
50 Large time 949.1 960.9 939.3
51 Other 2,441.1 2,424.8 2,443.6
52 Borrowings 1,278.9 1,252.7 1,276.3
53 From banks in the U.S. 408.0 388.2 389.8
54 From others 870.9 864.4 886.5
55 Net due to related foreign
offices 182.7 206.3 218.9
56 Other liabilities 343.9 339.7 349.9
57 Total liabilities 5,812.2 5,787.7 5,797.2
58 Residual (assets less
liabilities)(7) 419.7 420.5 418.9
Wednesday figures
2001
Account May 16 May 23 May 30
Seasonally adjusted
Assets
1 Bank credit 5,314.5 5,308.9 5,329.7
2 Securities in bank credit 1,369.2 1,367.8 1,372.8
3 U.S. government securities 766.8 769.0 775.9
4 Other securities 602.4 598.8 596.9
5 Loans and leases in bank
credit(2) 3,945.3 3,941.1 3,956.9
6 Commercial and industrial 1,101.8 1,103.9 1,101.0
7 Real estate 1,692.6 1,688.1 1,696.5
8 Revolving home equity 139.3 139.7 139.1
9 Other 1,553.3 1,548.4 1,557.4
10 Consumer 553.5 556.1 554.3
11 Security(3) 160.0 157.0 168.8
12 Other loans and leases 437.4 436.0 436.2
13 Interbank loans 293.7 283.5 282.2
14 Cash assets(4) 262.6 256.0 275.2
15 Other assets(5) 413.4 424.5 425.4
16 Total assets(6) 6,218.9 6,207.6 6,247.7
Liabilities
17 Deposits 4,001.6 4,006.8 4,038.3
18 Transaction 605.8 624.6 645.5
19 Nontransaction 3,395.9 3,382.1 3,392.8
20 Large time 963.1 973.8 979.9
21 Other 2,432.7 2,408.3 2,412.9
22 Borrowings 1,239.4 1,238.8 1,246.0
23 From banks in the U.S. 390.7 385.9 380.0
24 From others 848.7 852.9 866.0
25 Net due to related foreign
offices 209.8 197.2 203.5
26 Other liabilities 335.7 332.8 336.5
27 Total liabilities 5,786.6 5,775.6 5,824.3
28 Residual (assets less
liabilities)(7) 432.3 432.0 423.4
Not seasonally adjusted
Assets
29 Bank credit 5,305.1 5,290.6 5,318.6
30 Securities in bank credit 1,368.1 1,365.5 1,372.0
31 U.S. government securities 768.1 769.3 776.3
32 Other securities 600.0 596.3 595.7
33 Loans and leases in bank
credit(2) 3,937.0 3,925.1 3,946.6
34 Commercial and industrial 1,104.4 1,104.0 1,101.2
35 Real estate 1,694.1 1,688.4 1,696.4
36 Revolving home equity 139.4 139.8 139.1
37 Other 1,554.7 1,548.7 1,557.3
38 Consumer 551.6 553.9 551.7
39 Credit cards and related 219.0 221.8 220.0
plans
40 Other 332.6 332.1 331.7
41 Security(3) 154.3 149.8 163.5
42 Other loans and leases 432.6 428.8 433.7
43 Interbank loans 286.9 270.2 277.3
44 Cash assets(4) 257.1 241.2 297.1
45 Other assets(5) 415.5 420.6 424.5
46 Total assets(6) 6,199.3 6,157.2 6,252.6
Liabilities
47 Deposits 3,988.5 3,969.6 4,040.5
48 Transaction 595.0 596.6 656.4
49 Nontransaction 3,393.5 3,373.0 3,384.0
50 Large time 960.4 971.6 977.2
51 Other 2,433.1 2,401.4 2,406.8
52 Borrowings 1,246.3 1,234.6 1,249.3
53 From banks in the U.S. 394.3 386.2 382.6
54 From others 852.0 848.4 866.7
55 Net due to related foreign
offices 207.9 196.8 203.7
56 Other liabilities 335.6 334.2 338.5
57 Total liabilities 5,778.3 5,735.2 5,832.0
58 Residual (assets less
liabilities)(7) 421.0 422.0 420.6
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2000
Account May Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 4,421.0 4,578.4(r) 4,616.9
2 Securities in bank credit 1,098.7(r) 1,115.8 1,130.3
3 U.S. government
securities 738.6 717.9 719.5
4 Other securities 360.1(r) 398.0 410.8
5 Loans and leases in bank
credit(2) 3,322.3(r) 3,462.6(r) 3,486.6(r)
6 Commercial and
industrial 853.7 878.5(r) 881.3(r)
7 Real estate 1,559.2 1,631.3(r) 1,637.0(r)
8 Revolving home equity 114.2 128.1(r) 131.2(r)
9 Other 1,445.0 1,503.1(r) 1,505.7(r)
10 Consumer 511.1(r) 537.2(r) 542.3(r)
11 Security(3) 67.2 64.6(r) 68.6(r)
12 Other loans and leases 331.1 350.9(r) 357.5(r)
13 Interbank loans 197.3 219.0(r) 225.1(r)
14 Cash assets(4) 230.5 217.5 227.3
15 Other assets(5) 338.4 362.7 360.9
16 Total assets(6) 5,127.7 5,315.4 5,366.8
Liabilities
17 Deposits 3,247.5 3,401.5 3,467.6
18 Transaction 618.7 590.4 591.3
19 Nontransaction 2,628.8 2,811.1 2,876.3
20 Large time 507.3 547.2 563.9
21 Other 2,121.5 2,263.9 2,312.5
22 Borrowings 1,001.6 979.9 1,002.8
23 From banks in the U.S. 364.0 350.1 374.5
24 From others 637.6 629.8 628.3
25 Net due to related foreign
offices 234.2 237.1 227.6
26 Other liabilities 229.3 271.8 272.8
27 Total liabilities 4,712.5 4,890.2 4,970.8
28 Residual (assets less
liabilities)(7) 415.2 425.2 396.0(r)
Not seasonally adjusted
Assets
29 Bank credit 4,417.4 4,594.9(r) 4,642.5
30 Securities in bank credit 1,098.6(r) 1,119.8 1,135.9
31 U.S. government
securities 739.9 718.9 719.3
32 Other securities 358.6(r) 400.9 416.6
33 Loans and leases in bank
credit(2) 3,318.8(r) 3,475.0 3,506.6
34 Commercial and
industrial 859.0 879.0(r) 881.2(r)
35 Real estate 1,559.4(r) 1,636.8(r) 1,641.6(r)
36 Revolving home equity 114.2 128.8(r) 131.3(r)
37 Other 1,445.3 1,508.0(r) 1,510.3(r)
38 Consumer 510.0(r) 537.6(r) 548.2(r)
39 Credit cards and
related plans n.a. 209.3(r) 218.2(r)
40 Other n.a. 328.2(r) 329.9(r)
41 Security(3) 62.6 69.1(r) 74.6(r)
42 Other loans and leases 327.8 352.6(r) 361.2(r)
43 Interbank loans 196.2 225.8 233.9
44 Cash assets(4) 229.6 222.5 243.8
45 Other assets(5) 339.1 362.4 365.4
46 Total assets(6) 5,122.8 5,343.2(r) 5,422.1
Liabilities
47 Deposits 3,234.6 3,420.8 3,503.5
48 Transaction 609.2 596.4 619.8
49 Nontransaction 2,625.4 2,824.4 2,883.7
50 Large time 504.7 552.1 567.7
51 Other 2,120.7 2,272.3 2,315.9
52 Borrowings 1,008.1 988.3 1,005.7
53 From banks in the U.S. 367.7 350.9 376.4
54 From others 640.5 637.4 629.3
55 Net due to related foreign
offices 237.2 239.0 227.7
56 Other liabilities 231.7 273.5 273.2
57 Total liabilities 4,711.6 4,921.6 5,010.0
58 Residual (assets less
liabilities)(7) 411.2 421.5 412.1
Monthly averages
2001
Account Jan.(r) Feb.(r) Mar.(r)
Seasonally adjusted
Assets
1 Bank credit 4,651.5 4,668.4 4,666.4
2 Securities in bank credit 1,148.1 1,151.9 1,139.7
3 U.S. government
securities 719.8 713.2 690.6
4 Other securities 428.3 438.7 449.1
5 Loans and leases in bank
credit(2) 3,503.4 3,516.5 3,526.7
6 Commercial and
industrial 889.4 892.7 889.0
7 Real estate 1,639.4 1,650.2 1,658.3
8 Revolving home equity 133.6 135.3 137.2
9 Other 1,505.7 1,514.9 1,521.1
10 Consumer 547.0 546.5 544.9
11 Security(3) 64.8 62.9 66.9
12 Other loans and leases 362.8 364.2 367.5
13 Interbank loans 241.2 238.8 245.5
14 Cash assets(4) 231.8 223.7 227.7
15 Other assets(5) 375.1 377.7 392.1
16 Total assets(6) 5,435.3 5,444.0 5,467.1
Liabilities
17 Deposits 3,505.4 3,510.0 3,546.4
18 Transaction 598.0 597.4 597.4
19 Nontransaction 2,907.4 2,912.7 2,948.9
20 Large time 567.5 568.8 567.9
21 Other 2,339.9 2,343.9 2,381.0
22 Borrowings 1,020.7 1,020.8 1,010.2
23 From banks in the U.S. 372.1 373.7 371.2
24 From others 648.6 647.1 639.0
25 Net due to related foreign
offices 217.7 214.6 211.5
26 Other liabilities 285.2 266.1 272.5
27 Total liabilities 5,029.1 5,011.5 5,040.6
28 Residual (assets less
liabilities)(7) 406.2 432.4 426.5
Not seasonally adjusted
Assets
29 Bank credit 4,658.3 4,660.2 4,658.5
30 Securities in bank credit 1,153.3 1,153.7 1,143.8
31 U.S. government
securities 722.0 715.0 696.5
32 Other securities 431.3 438.8 447.3
33 Loans and leases in bank
credit(2) 3,505.0 3,506.5 3,514.7
34 Commercial and
industrial 884.9 889.9 889.4
35 Real estate 1,638.4 1,643.6 1,650.9
36 Revolving home equity 132.8 134.1 135.5
37 Other 1,505.6 1,509.5 1,515.4
38 Consumer 551.4 547.1 541.1
39 Credit cards and
related plans 218.3 213.4 209.1
40 Other 333.0 333.8 331.9
41 Security(3) 67.4 64.7 68.9
42 Other loans and leases 362.9 361.1 364.3
43 Interbank loans 243.2 240.6 252.8
44 Cash assets(4) 245.3 224.6 219.2
45 Other assets(5) 375.7 375.9 390.7
46 Total assets(6) 5,458.4 5,436.7 5,456.7
Liabilities
47 Deposits 3,510.3 3,518.8 3,552.2
48 Transaction 609.6 589.4 591.7
49 Nontransaction 2,900.7 2,929.4 2,960.5
50 Large time 570.8 572.1 566.4
51 Other 2,329.9 2,357.3 2,394.1
52 Borrowings 1,038.0 1,024.4 1,008.6
53 From banks in the U.S. 378.3 378.1 374.9
54 From others 659.7 646.3 633.7
55 Net due to related foreign
offices 218.6 217.4 210.3
56 Other liabilities 286.2 268.7 271.2
57 Total liabilities 5,053.2 5,029.3 5,042.3
58 Residual (assets less
liabilities)(7) 405.3 407.4 414.4
Wednesday
Monthly averages figures
2001 2001
Account Apr.(r) May May 9
Seasonally adjusted
Assets
1 Bank credit 4,692.6 4,715.1 4,708.5
2 Securities in bank credit 1,146.2 1,158.9 1,153.2
3 U.S. government
securities 691.6 699.5 692.9
4 Other securities 454.6 459.4 460.2
5 Loans and leases in bank
credit(2) 3,546.3 3,556.2 3,555.4
6 Commercial and
industrial 885.4 884.3 884.6
7 Real estate 1,665.1 1,675.5 1,679.3
8 Revolving home equity 138.0 139.3 139.1
9 Other 1,527.2 1,536.2 1,540.2
10 Consumer 549.3 553.0 549.0
11 Security(3) 78.8 75.2 77.4
12 Other loans and leases 367.8 368.3 365.1
13 Interbank loans 263.8 255.2 262.6
14 Cash assets(4) 231.3 226.2 220.9
15 Other assets(5) 388.9 384.9 392.5
16 Total assets(6) 5,511.7 5,516.7 5,519.8
Liabilities
17 Deposits 3,594.9 3,594.2 3,576.8
18 Transaction 599.8 602.5 575.3
19 Nontransaction 2,995.1 2,991.7 3,001.5
20 Large time 568.0 568.2 568.1
21 Other 2,427.1 2,423.5 2,433.4
22 Borrowings 1,042.1 1,031.3 1,043.5
23 From banks in the U.S. 381.2 365.6 363.9
24 From others 660.9 665.6 679.6
25 Net due to related foreign
offices 185.5 211.9 202.7
26 Other liabilities 260.9 252.8 263.9
27 Total liabilities 5,083.5 5,090.1 5,086.9
28 Residual (assets less
liabilities)(7) 428.3 426.6 432.9
Not seasonally adjusted
Assets
29 Bank credit 4,687.9 4,709.1 4,705.2
30 Securities in bank credit 1,147.8 1,158.1 1,153.2
31 U.S. government
securities 696.5 700.4 693.9
32 Other securities 451.3 457.7 459.3
33 Loans and leases in bank
credit(2) 3,540.0 3,550.9 3,551.9
34 Commercial and
industrial 891.9 889.6 892.6
35 Real estate 1,660.8 1,675.9 1,679.8
36 Revolving home equity 137.0 139.3 139.1
37 Other 1,523.8 1,536.6 1,540.7
38 Consumer 546.1 550.8 546.8
39 Credit cards and
related plans 214.2 218.8 215.1
40 Other 331.9 332.0 331.7
41 Security(3) 75.8 70.0 71.3
42 Other loans and leases 365.5 364.7 361.4
43 Interbank loans 269.9 248.4 257.7
44 Cash assets(4) 228.7 225.1 211.2
45 Other assets(5) 389.6 385.7 395.7
46 Total assets(6) 5,511.4 5,503.6 5,504.9
Liabilities
47 Deposits 3,611.3 3,581.0 3,566.2
48 Transaction 606.6 593.1 559.1
49 Nontransaction 3,004.7 2,987.9 3,007.1
50 Large time 565.9 565.3 565.8
51 Other 2,438.8 2,422.6 2,441.3
52 Borrowings 1,042.8 1,036.3 1,055.8
53 From banks in the U.S. 384.5 368.7 369.1
54 From others 658.4 667.6 686.7
55 Net due to related foreign
offices 183.1 214.3 202.6
56 Other liabilities 258.1 254.9 264.1
57 Total liabilities 5,095.3 5,086.5 5,088.7
58 Residual (assets less
liabilities)(7) 416.1 417.0 416.2
Wednesday figures
2001
Account May 16 May 23 May 30
Seasonally adjusted
Assets
1 Bank credit 4,719.6 4,711.0 4,721.6
2 Securities in bank credit 1,162.1 1,157.8 1,163.4
3 U.S. government
securities 698.1 699.1 707.5
4 Other securities 464.0 458.7 455.9
5 Loans and leases in bank
credit(2) 3,557.5 3,553.2 3,558.2
6 Commercial and
industrial 884.6 885.0 883.0
7 Real estate 1,674.7 1,670.1 1,678.5
8 Revolving home equity 139.3 139.7 139.1
9 Other 1,535.3 1,530.4 1,539.4
10 Consumer 553.5 556.1 554.3
11 Security(3) 74.3 73.6 73.4
12 Other loans and leases 370.5 368.3 368.9
13 Interbank loans 256.8 253.0 248.4
14 Cash assets(4) 224.7 219.4 238.7
15 Other assets(5) 373.7 383.8 387.4
16 Total assets(6) 5,509.9 5,502.3 5,531.7
Liabilities
17 Deposits 3,592.3 3,589.1 3,615.0
18 Transaction 594.5 614.6 635.4
19 Nontransaction 2,997.8 2,974.5 2,979.6
20 Large time 567.3 568.4 568.9
21 Other 2,430.5 2,406.1 2,410.7
22 Borrowings 1,023.7 1,029.0 1,025.9
23 From banks in the U.S. 368.5 367.5 362.8
24 From others 655.2 661.4 663.1
25 Net due to related foreign
offices 216.6 211.9 220.3
26 Other liabilities 249.2 246.8 250.1
27 Total liabilities 5,081.9 5,076.7 5,111.4
28 Residual (assets less
liabilities)(7) 428.1 425.6 420.3
Not seasonally adjusted
Assets
29 Bank credit 4,714.2 4,699.4 4,714.9
30 Securities in bank credit 1,161.0 1,155.6 1,162.7
31 U.S. government
securities 699.4 699.4 707.9
32 Other securities 461.6 456.2 454.8
33 Loans and leases in bank
credit(2) 3,553.1 3,543.8 3,552.3
34 Commercial and
industrial 890.0 888.8 886.4
35 Real estate 1,676.1 1,670.5 1,678.4
36 Revolving home equity 139.4 139.8 139.1
37 Other 1,536.7 1,530.7 1,539.2
38 Consumer 551.6 553.9 551.7
39 Credit cards and
related plans 219.0 221.8 220.0
40 Other 332.6 332.1 331.7
41 Security(3) 69.1 67.8 68.9
42 Other loans and leases 366.4 362.7 367.0
43 Interbank loans 250.0 239.6 243.4
44 Cash assets(4) 219.9 205.9 261.0
45 Other assets(5) 376.2 380.8 387.4
46 Total assets(6) 5,495.4 5,460.8 5,542.3
Liabilities
47 Deposits 3,579.0 3,551.5 3,616.9
48 Transaction 584.2 587.0 646.3
49 Nontransaction 2,994.8 2,964.4 2,970.5
50 Large time 563.9 565.3 565.9
51 Other 2,430.9 2,399.1 2,404.6
52 Borrowings 1,030.6 1,024.7 1,029.3
53 From banks in the U.S. 372.1 367.9 365.5
54 From others 658.4 656.9 663.8
55 Net due to related foreign
offices 218.0 215.9 225.0
56 Other liabilities 250.6 250.2 254.2
57 Total liabilities 5,078.2 5,042.3 5,125.3
58 Residual (assets less
liabilities)(7) 417.1 418.6 417.0
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2000(r)
Account May Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 2,502.5(r) 2,536.7 2,554.3
2 Securities in bank credit 582.4(r) 573.8 580.9
3 U.S. government securities 365.1(r) 348.7 352.2
4 Trading account 22.1 21.6 28.8
5 Investment account 343.0(r) 327.1 323.4
6 Other securities 217.4 225.0 228.7
7 Trading account 101.9 114.5 119.0
8 Investment account 115.5 110.6 109.8
9 State and local government 25.5 26.3 26.3
10 Other 90.0 84.3 83.5
11 Loans and leases in bank
credit(2) 1,920.0(r) 1,962.9 1,973.4
12 Commercial and industrial 584.2(r) 588.5 590.7
13 Bankers acceptances 1.1 1.0 1.0
14 Other 583.1(r) 587.6 589.6
15 Real estate 802.7(r) 820.0 819.0
16 Revolving home equity 74.3 82.0 84.3
17 Other 728.4(r) 738.1 734.7
18 Consumer 229.1 239.6 241.5
19 Security(3) 61.1 58.0 61.4
20 Federal funds sold to and
repurchase agreements
with broker-dealers 39.7 41.7 46.3
21 Other 21.3 16.3 15.2
22 State and local government 12.5 12.8 12.6
23 Agricultural 9.6(r) 9.8 10.0
24 Federal funds sold to and
repurchase agreements
with others 13.3 19.0 21.0
25 All other loans 86.6(r) 86.5 87.8
26 Lease-financing receivables 121.1 128.7 129.4
27 Interbank loans 133.1 138.7 137.7
28 Federal funds sold to and
repurchase agreements
with commercial banks 67.5(r) 62.1 63.8
29 Other 65.7 76.5 73.9
30 Cash assets(4) 150.1 139.0 144.1
31 Other assets(5) 227.7(r) 254.1 248.6
32 Total assets(6) 2,978.4(r) 3,032.7 3,048.1
Liabilities
33 Deposits 1,654.8(r) 1,643.0 1,672.9
34 Transaction 317.8(r) 296.4 297.2
35 Nontransaction 1,337.1(r) 1,346.5 1,375.7
36 Large time 251.3(r) 254.5 265.3
37 Other 1,085.8(r) 1,092.0 1,110.4
38 Borrowings 655.6(r) 652.7 666.3
39 From banks in the U.S. 201.4 196.0 214.0
40 From others 454.2 456.7 452.3
41 Net due to related foreign offices 228.2 213.4 206.7
42 Other liabilities 170.9(r) 217.9 218.7
43 Total liabilities 2,709.4(r) 2,726.9 2,764.6
44 Residual (assets less
liabilities)(7) 269.0(r) 305.8 283.5
Not seasonally adjusted
Assets
45 Bank credit 2,496.7(r) 2,552.4 2,575.5
46 Securities in bank credit 580.5(r) 579.5 587.3
47 U.S. government securities 364.6(r) 351.6 352.8
48 Trading account 22.1 21.8 28.9
49 Investment account 342.5(r) 329.8 323.9
50 Mortgage-backed securities 220.0 211.4 213.4
51 Other 122.5(r) 118.3 110.6
52 One year or less 31.7 32.7 31.4
53 One to five years 53.6 50.0 45.0
54 More than five years 37.2 35.7 34.1
55 Other securities 215.9 228.0 234.5
56 Trading account 101.2 116.0 122.0
57 Investment account 114.7 112.0 112.5
58 State and local government 25.3 26.6 26.9
59 Other 89.3 85.4 85.6
60 Loans and leases in bank
credit(2) 1,916.2(r) 1,972.8 1,988.2
61 Commercial and industrial 587.4(r) 589.7 589.7
62 Bankers acceptances 1.1 1.0 1.0
63 Other 586.3(r) 588.7 588.7
64 Real estate 802.1(r) 825.2 823.5
65 Revolving home equity 74.2 82.4 84.2
66 Other 443.4(r) 453.3 448.7
67 Commercial 284.5(r) 289.5 290.7
68 Consumer 229.5 238.1 243.7
69 Credit cards and related
plans n.a. 78.1 82.4
70 Other n.a. 160.0 161.3
71 Security(3) 56.7 62.1 67.2
72 Federal funds sold to and
repurchase agreements
with broker-dealers 36.9 44.6 50.6
73 Other 19.8 17.5 16.6
74 State and local government 12.5 12.8 12.6
75 Agricultural 9.5 9.8 10.0
76 Federal funds sold to and
repurchase agreements
with others 13.3 19.0 21.0
77 All other loans 84.8 87.8 90.7
78 Lease-financing receivables 120.5 128.4 129.7
79 Interbank loans 135.8(r) 139.5 141.6
80 Federal funds sold to and
repurchase agreements
with commercial banks 68.9 62.6 65.6
81 Other 66.9 77.0 75.9
82 Cash assets(4) 150.1(r) 140.2 155.5
83 Other assets(5) 228.4 253.7 253.0
84 Total assets(6) 2,975.8(r) 3,049.9 3,088.9
Liabilities
85 Deposits 1,646.8(r) 1,650.1 1,690.7
86 Transaction 312.7(r) 298.8 315.0
87 Nontransaction 1,334.1(r) 1,351.4 1,375.6
88 Large time 248.7(r) 259.4 269.1
89 Other 1,085.3(r) 1,092.0 1,106.5
90 Borrowings 662.1 661.1 669.2
91 From banks in the U.S. 205.1(r) 196.8 215.9
92 From nonbanks in the U.S. 457.1(r) 464.3 453.3
93 Net due to related foreign offices 231.2 215.4 206.8
94 Other liabilities 173.2 219.7 219.0
95 Total liabilities 2,713.4(r) 2,746.3 2,785.7
96 Residual (assets less
liabilities)(7) 262.5 303.6 303.2
Monthly averages
2001
Account Jan.(r) Feb.(r) Mar.(r)
Seasonally adjusted
Assets
1 Bank credit 2,571.4 2,581.6 2,588.7
2 Securities in bank credit 592.3 595.4 591.2
3 U.S. government securities 353.4 349.5 338.9
4 Trading account 34.2 37.5 35.4
5 Investment account 319.2 312.0 303.4
6 Other securities 238.9 245.9 252.3
7 Trading account 126.0 129.3 132.5
8 Investment account 112.9 116.6 119.9
9 State and local government 27.1 27.6 28.1
10 Other 85.8 89.0 91.8
11 Loans and leases in bank
credit(2) 1,979.1 1,986.2 1,997.5
12 Commercial and industrial 594.1 595.4 591.0
13 Bankers acceptances .8 .8 .8
14 Other 593.2 594.6 590.2
15 Real estate 819.5 825.8 834.1
16 Revolving home equity 86.1 87.3 89.1
17 Other 733.4 738.5 744.9
18 Consumer 243.0 245.0 246.4
19 Security(3) 57.7 55.3 58.8
20 Federal funds sold to and
repurchase agreements
with broker-dealers 41.7 39.4 43.6
21 Other 16.0 15.9 15.2
22 State and local government 12.8 13.0 13.2
23 Agricultural 10.1 10.3 10.4
24 Federal funds sold to and
repurchase agreements
with others 25.8 26.1 26.0
25 All other loans 86.7 85.5 86.4
26 Lease-financing receivables 129.5 129.8 131.2
27 Interbank loans 153.9 141.1 137.4
28 Federal funds sold to and
repurchase agreements
with commercial banks 79.0 70.4 70.4
29 Other 74.9 70.7 67.0
30 Cash assets(4) 146.3 137.6 142.0
31 Other assets(5) 260.2 262.6 271.5
32 Total assets(6) 3,094.4 3,085.2 3,102.0
Liabilities
33 Deposits 1,680.7 1,674.1 1,700.6
34 Transaction 300.4 298.3 301.5
35 Nontransaction 1,380.3 1,375.8 1,399.1
36 Large time 267.2 262.7 265.0
37 Other 1,113.1 1,113.2 1,134.0
38 Borrowings 676.8 679.5 676.9
39 From banks in the U.S. 213.9 215.6 219.6
40 From others 462.9 463.9 457.3
41 Net due to related foreign offices 200.9 197.9 196.1
42 Other liabilities 231.8 212.2 216.4
43 Total liabilities 2,790.3 2,763.8 2,789.9
44 Residual (assets less
liabilities)(7) 304.2 321.4 312.1
Not seasonally adjusted
Assets
45 Bank credit 2,582.5 2,584.4 2,585.2
46 Securities in bank credit 598.1 599.2 593.1
47 U.S. government securities 356.2 353.2 342.5
48 Trading account 34.5 37.9 35.8
49 Investment account 321.7 315.3 306.7
50 Mortgage-backed securities 219.7 215.6 214.0
51 Other 102.0 99.7 92.6
52 One year or less 31.5 33.6 33.3
53 One to five years 38.5 37.1 34.1
54 More than five years 32.1 29.0 25.2
55 Other securities 241.9 246.0 250.5
56 Trading account 127.6 129.3 131.5
57 Investment account 114.3 116.6 119.0
58 State and local government 27.5 27.6 27.9
59 Other 86.8 89.0 91.1
60 Loans and leases in bank
credit(2) 1,984.4 1,985.3 1,992.2
61 Commercial and industrial 590.6 594.3 591.7
62 Bankers acceptances .8 .8 .8
63 Other 589.7 593.5 590.9
64 Real estate 820.1 822.5 828.3
65 Revolving home equity 85.2 86.3 87.7
66 Other 445.7 445.5 449.6
67 Commercial 289.1 290.8 291.0
68 Consumer 246.6 247.2 246.1
69 Credit cards and related
plans 83.4 83.1 82.6
70 Other 163.2 164.1 163.5
71 Security(3) 60.3 57.1 60.5
72 Federal funds sold to and
repurchase agreements
with broker-dealers 43.6 40.7 44.9
73 Other 16.7 16.4 15.6
74 State and local government 12.8 13.0 13.2
75 Agricultural 10.2 10.1 10.2
76 Federal funds sold to and
repurchase agreements
with others 25.8 26.1 26.0
77 All other loans 86.6 83.8 84.4
78 Lease-financing receivables 131.6 131.2 131.7
79 Interbank loans 155.3 140.0 138.5
80 Federal funds sold to and
repurchase agreements
with commercial banks 79.7 69.9 71.0
81 Other 75.7 70.2 67.5
82 Cash assets(4) 157.2 139.5 137.1
83 Other assets(5) 260.8 260.8 270.2
84 Total assets(6) 3,118.8 3,087.0 3,093.3
Liabilities
85 Deposits 1,686.9 1,681.9 1,699.0
86 Transaction 309.3 295.2 297.8
87 Nontransaction 1,377.6 1,386.7 1,401.2
88 Large time 270.5 266.0 263.5
89 Other 1,107.1 1,120.8 1,137.7
90 Borrowings 694.1 683.1 675.3
91 From banks in the U.S. 220.2 220.0 223.2
92 From nonbanks in the U.S. 473.9 463.1 452.0
93 Net due to related foreign offices 201.8 200.8 194.9
94 Other liabilities 232.8 214.8 215.1
95 Total liabilities 2,815.7 2,780.6 2,784.3
96 Residual (assets less
liabilities)(7) 303.1 306.4 309.1
Wednesday
Monthly averages figures
2001 2001
Account Apr.(r) May May 9
Seasonally adjusted
Assets
1 Bank credit 2,610.4 2,622.8 2,623.9
2 Securities in bank credit 597.6 607.6 604.8
3 U.S. government securities 341.8 349.8 344.9
4 Trading account 33.7 35.3 31.0
5 Investment account 308.1 314.5 313.9
6 Other securities 255.8 257.8 259.9
7 Trading account 135.9 137.0 139.4
8 Investment account 119.9 120.8 120.5
9 State and local government 28.4 28.1 28.0
10 Other 91.5 92.7 92.5
11 Loans and leases in bank
credit(2) 2,012.8 2,015.2 2,019.1
12 Commercial and industrial 588.1 587.0 587.9
13 Bankers acceptances .8 .8 .8
14 Other 587.3 586.2 587.1
15 Real estate 840.7 846.4 851.8
16 Revolving home equity 89.7 90.1 90.1
17 Other 751.0 756.3 761.7
18 Consumer 248.0 250.5 248.6
19 Security(3) 70.2 66.4 68.8
20 Federal funds sold to and
repurchase agreements
with broker-dealers 53.8 49.3 51.7
21 Other 16.4 17.1 17.1
22 State and local government 13.1 13.1 13.2
23 Agricultural 10.4 10.7 10.8
24 Federal funds sold to and
repurchase agreements
with others 22.9 23.5 22.7
25 All other loans 87.4 85.1 82.9
26 Lease-financing receivables 132.0 132.5 132.5
27 Interbank loans 145.3 131.5 142.1
28 Federal funds sold to and
repurchase agreements
with commercial banks 81.8 71.0 80.1
29 Other 63.5 60.4 62.0
30 Cash assets(4) 144.7 139.1 136.1
31 Other assets(5) 264.9 262.2 267.9
32 Total assets(6) 3,127.7 3,118.0 3,132.5
Liabilities
33 Deposits 1,725.0 1,716.1 1,708.0
34 Transaction 301.2 301.2 286.3
35 Nontransaction 1,423.8 1,414.9 1,421.6
36 Large time 264.9 267.2 264.9
37 Other 1,158.8 1,147.7 1,156.8
38 Borrowings 705.5 691.1 704.3
39 From banks in the U.S. 229.8 212.4 212.5
40 From others 475.6 478.7 491.9
41 Net due to related foreign offices 172.7 195.2 185.7
42 Other liabilities 204.4 195.8 207.6
43 Total liabilities 2,807.6 2,798.2 2,805.6
44 Residual (assets less
liabilities)(7) 320.0 319.8 326.9
Not seasonally adjusted
Assets
45 Bank credit 2,606.0 2,616.3 2,619.2
46 Securities in bank credit 596.5 605.3 602.8
47 U.S. government securities 344.0 349.1 343.8
48 Trading account 34.0 35.2 30.9
49 Investment account 310.0 313.9 312.8
50 Mortgage-backed securities 221.4 227.9 231.1
51 Other 88.7 86.0 81.7
52 One year or less 31.7 28.6 27.9
53 One to five years 31.2 30.9 27.5
54 More than five years 25.8 26.4 26.3
55 Other securities 252.5 256.2 259.0
56 Trading account 134.2 136.1 138.9
57 Investment account 118.4 120.0 120.1
58 State and local government 28.0 28.0 27.9
59 Other 90.3 92.1 92.2
60 Loans and leases in bank
credit(2) 2,009.5 2,011.0 2,016.4
61 Commercial and industrial 592.4 589.8 592.8
62 Bankers acceptances .8 .8 .8
63 Other 591.6 589.0 592.0
64 Real estate 836.7 846.0 851.9
65 Revolving home equity 88.7 90.0 90.0
66 Other 456.4 462.6 468.9
67 Commercial 291.6 293.4 293.0
68 Consumer 248.7 250.9 249.3
69 Credit cards and related
plans 84.6 86.9 85.4
70 Other 164.0 164.0 163.9
71 Security(3) 67.1 61.6 62.9
72 Federal funds sold to and
repurchase agreements
with broker-dealers 51.4 45.7 47.3
73 Other 15.7 15.9 15.6
74 State and local government 13.1 13.1 13.2
75 Agricultural 10.3 10.7 10.7
76 Federal funds sold to and
repurchase agreements
with others 22.9 23.5 22.7
77 All other loans 86.3 83.6 81.0
78 Lease-financing receivables 132.0 131.9 132.0
79 Interbank loans 147.4 133.8 141.1
80 Federal funds sold to and
repurchase agreements
with commercial banks 83.0 72.3 79.6
81 Other 64.4 61.5 61.5
82 Cash assets(4) 145.0 139.3 130.2
83 Other assets(5) 265.6 263.0 271.1
84 Total assets(6) 3,126.6 3,114.7 3,123.9
Liabilities
85 Deposits 1,734.1 1,709.3 1,698.8
86 Transaction 308.5 297.0 276.2
87 Nontransaction 1,425.6 1,412.4 1,422.6
88 Large time 262.8 264.4 262.6
89 Other 1,162.8 1,148.0 1,160.0
90 Borrowings 706.2 696.1 716.6
91 From banks in the U.S. 233.1 215.5 217.6
92 From nonbanks in the U.S. 473.1 480.7 499.0
93 Net due to related foreign offices 170.3 197.6 185.6
94 Other liabilities 201.6 198.0 207.8
95 Total liabilities 2,812.2 2,801.1 2,808.8
96 Residual (assets less
liabilities)(7) 314.4 313.6 315.1
Wednesday figures
2001
Account May 16 May 23 May 30
Seasonally adjusted
Assets
1 Bank credit 2,627.6 2,615.4 2,623.9
2 Securities in bank credit 610.9 605.7 609.7
3 U.S. government securities 349.4 348.6 355.8
4 Trading account 35.5 36.1 39.6
5 Investment account 313.9 312.5 316.2
6 Other securities 261.5 257.1 253.9
7 Trading account 140.1 135.8 133.7
8 Investment account 121.4 121.2 120.2
9 State and local government 28.3 28.3 28.1
10 Other 93.1 93.0 92.1
11 Loans and leases in bank
credit(2) 2,016.7 2,009.7 2,014.2
12 Commercial and industrial 587.4 587.7 585.4
13 Bankers acceptances .8 .8 .8
14 Other 586.6 586.8 584.6
15 Real estate 846.0 840.5 847.5
16 Revolving home equity 90.1 90.4 89.6
17 Other 755.9 750.1 757.9
18 Consumer 250.8 251.8 251.4
19 Security(3) 65.5 64.9 64.7
20 Federal funds sold to and
repurchase agreements
with broker-dealers 49.0 47.6 47.1
21 Other 16.4 17.3 17.6
22 State and local government 13.1 13.1 13.0
23 Agricultural 10.8 10.7 10.7
24 Federal funds sold to and
repurchase agreements
with others 23.5 23.2 24.1
25 All other loans 87.2 85.3 85.0
26 Lease-financing receivables 132.6 132.5 132.6
27 Interbank loans 132.4 127.4 122.7
28 Federal funds sold to and
repurchase agreements
with commercial banks 72.1 65.9 65.2
29 Other 60.3 61.5 57.5
30 Cash assets(4) 136.4 133.5 149.3
31 Other assets(5) 252.8 263.7 263.5
32 Total assets(6) 3,111.6 3,102.3 3,122.1
Liabilities
33 Deposits 1,715.5 1,711.2 1,727.2
34 Transaction 296.1 305.4 321.4
35 Nontransaction 1,419.4 1,405.8 1,405.8
36 Large time 266.0 268.7 269.4
37 Other 1,153.4 1,137.1 1,136.4
38 Borrowings 686.7 687.3 683.3
39 From banks in the U.S. 216.1 212.0 209.0
40 From others 470.7 475.3 474.4
41 Net due to related foreign offices 197.7 196.7 203.8
42 Other liabilities 192.2 189.3 192.7
43 Total liabilities 2,792.2 2,784.5 2,807.1
44 Residual (assets less
liabilities)(7) 319.4 317.8 315.0
Not seasonally adjusted
Assets
45 Bank credit 2,620.9 2,603.2 2,618.2
46 Securities in bank credit 608.1 602.0 607.9
47 U.S. government securities 349.1 347.4 355.2
48 Trading account 35.4 36.0 39.5
49 Investment account 313.7 311.5 315.7
50 Mortgage-backed securities 226.4 223.0 229.3
51 Other 87.2 88.4 86.3
52 One year or less 28.3 29.8 27.8
53 One to five years 32.7 32.2 32.1
54 More than five years 26.3 26.4 26.5
55 Other securities 259.0 254.6 252.7
56 Trading account 138.8 134.5 133.1
57 Investment account 120.2 120.1 119.6
58 State and local government 28.0 28.0 28.0
59 Other 92.3 92.1 91.6
60 Loans and leases in bank
credit(2) 2,012.8 2,001.2 2,010.3
61 Commercial and industrial 590.0 589.0 586.6
62 Bankers acceptances .8 .8 .8
63 Other 589.3 588.2 585.8
64 Real estate 846.6 839.4 846.8
65 Revolving home equity 90.0 90.3 89.7
66 Other 463.3 456.0 462.6
67 Commercial 293.2 293.1 294.5
68 Consumer 251.3 252.1 251.7
69 Credit cards and related
plans 86.8 88.0 87.7
70 Other 164.5 164.0 163.9
71 Security(3) 60.6 59.6 60.5
72 Federal funds sold to and
repurchase agreements
with broker-dealers 45.4 43.8 44.0
73 Other 15.2 15.9 16.5
74 State and local government 13.1 13.1 13.0
75 Agricultural 10.7 10.7 10.6
76 Federal funds sold to and
repurchase agreements
with others 23.5 23.2 24.1
77 All other loans 85.2 82.4 85.2
78 Lease-financing receivables 131.9 131.8 131.8
79 Interbank loans 135.1 127.4 129.2
80 Federal funds sold to and
repurchase agreements
with commercial banks 73.6 65.9 68.6
81 Other 61.6 61.5 60.5
82 Cash assets(4) 134.7 124.7 165.3
83 Other assets(5) 255.3 260.7 263.5
84 Total assets(6) 3,108.4 3,078.4 3,138.8
Liabilities
85 Deposits 1,709.0 1,688.6 1,733.5
86 Transaction 292.6 289.3 330.6
87 Nontransaction 1,416.5 1,399.3 1,402.9
88 Large time 262.6 265.6 266.4
89 Other 1,153.8 1,133.7 1,136.5
90 Borrowings 693.6 683.1 686.7
91 From banks in the U.S. 219.6 212.3 211.6
92 From nonbanks in the U.S. 473.9 470.7 475.1
93 Net due to related foreign offices 199.1 200.7 208.5
94 Other liabilities 193.6 192.8 196.8
95 Total liabilities 2,795.3 2,765.2 2,825.4
96 Residual (assets less
liabilities)(7) 313.1 313.2 313.4
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2000(r)
Account May(r) Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 1,918.5 2,041.7 2,062.6
2 Securities in bank credit 516.3 542.1 549.4
3 U.S. government securities 373.5 369.1 367.4
4 Other securities 142.7 172.9 182.1
5 Loans and leases in bank credit(2) 1,402.2 1,499.6 1,513.2
6 Commercial and industrial 269.5 290.0 290.7
7 Real estate 756.5 811.2 818.0
8 Revolving home equity 39.9 46.1 47.0
9 Other 716.6 765.1 771.0
10 Consumer 282.0 297.6 300.7
11 Security(3) 6.1 6.6 7.1
12 Other loans and leases 88.1 94.2 96.7
13 Interbank loans 64.2 80.4 87.4
14 Cash assets(4) 80.4 78.5 83.1
15 Other assets(5) 110.7 108.6 112.4
16 Total assets(6) 2,149.3 2,282.7 2,318.7
Liabilities
17 Deposits 1,592.7 1,758.5 1,794.8
18 Transaction 301.0 294.0 294.1
19 Nontransaction 1,291.7 1,464.6 1,500.7
20 Large time 256.0 292.7 298.6
21 Other 1,035.8 1,171.9 1,202.1
22 Borrowings 346.0 327.2 336.5
23 From banks in the U.S. 162.6 154.1 160.5
24 From others 183.4 173.1 176.0
25 Net due to related foreign offices 6.0 23.7 20.9
26 Other liabilities 58.4 53.9 54.1
27 Total liabilities 2,003.1 2,163.3 2,206.3
28 Residual (assets less liabilities)(7) 146.2 119.4 112.5
Not seasonally adjusted
Assets
29 Bank credit 1,920.7 2,042.5 2,067.1
30 Securities in bank credit 518.1 540.3 548.6
31 U.S. government securities 375.4 367.4 366.5
32 Other securities 142.7 172.9 182.1
33 Loans and leases in bank credit(2) 1,402.6 1,502.2 1,518.5
34 Commercial and industrial 271.6 289.3 291.4
35 Real estate 757.3 811.6 818.0
36 Revolving home equity 40.0 46.4 47.1
37 Other 717.3 765.2 770.9
38 Consumer 280.6 299.5 304.5
39 Credit cards and related plans n.a. 131.3 135.8
40 Other n.a. 168.2 168.7
41 Security(3) 5.9 7.0 7.3
42 Other loans and leases 87.2 94.8 97.2
43 Interbank loans 60.4 86.2 92.3
44 Cash assets(4) 79.6 82.4 88.3
45 Other assets(5) 110.7 108.6 112.4
46 Total assets(6) 2,146.9 2,293.2 2,333.2
Liabilities
47 Deposits 1,587.8 1,770.6 1,812.8
48 Transaction 296.5 297.6 304.8
49 Nontransaction 1,291.4 1,473.0 1,508.0
50 Large time 256.0 292.7 298.6
51 Other 1,035.4 1,180.3 1,209.4
52 Borrowings 346.0 327.2 336.5
53 From banks in the U.S. 162.6 154.1 160.5
54 From others 183.4 173.1 176.1
55 Net due to related foreign offices 6.0 23.7 20.9
56 Other liabilities 58.4 53.9 54.1
57 Total liabilities 1,998.2 2,175.3 2,224.3
58 Residual (assets less liabilities)(7) 148.7 117.9 108.9
Monthly averages
2001
Account Jan.(r) Feb.(r) Mar.(r)
Seasonally adjusted
Assets
1 Bank credit 2,080.1 2,086.8 2,077.6
2 Securities in bank credit 555.8 556.5 548.5
3 U.S. government securities 366.4 363.7 351.7
4 Other securities 189.4 192.8 196.8
5 Loans and leases in bank credit(2) 1,524.3 1,530.3 1,529.1
6 Commercial and industrial 295.3 297.3 298.0
7 Real estate 819.9 824.4 824.2
8 Revolving home equity 47.6 48.0 48.0
9 Other 772.3 776.4 776.2
10 Consumer 304.0 301.5 298.5
11 Security(3) 7.2 7.6 8.1
12 Other loans and leases 97.9 99.5 100.3
13 Interbank loans 87.3 97.6 108.0
14 Cash assets(4) 85.5 86.1 85.6
15 Other assets(5) 114.9 115.1 120.6
16 Total assets(6) 2,340.8 2,358.8 2,365.1
Liabilities
17 Deposits 1,824.7 1,835.9 1,845.8
18 Transaction 297.6 299.1 295.9
19 Nontransaction 1,527.1 1,536.8 1,549.9
20 Large time 300.3 306.1 302.9
21 Other 1,226.8 1,230.7 1,247.0
22 Borrowings 343.9 341.2 333.3
23 From banks in the U.S. 158.1 158.1 151.6
24 From others 185.7 183.2 181.7
25 Net due to related foreign offices 16.8 16.7 15.4
26 Other liabilities 53.4 53.9 56.1
27 Total liabilities 2,238.8 2,247.7 2,250.6
28 Residual (assets less liabilities)(7) 102.0 111.1 114.5
Not seasonally adjusted
Assets
29 Bank credit 2,075.8 2,075.8 2,073.3
30 Securities in bank credit 555.2 554.6 550.7
31 U.S. government securities 365.8 361.8 354.0
32 Other securities 189.4 192.8 196.8
33 Loans and leases in bank credit(2) 1,520.6 1,521.2 1,522.5
34 Commercial and industrial 294.4 295.6 297.7
35 Real estate 818.3 821.1 822.6
36 Revolving home equity 47.6 47.8 47.8
37 Other 770.7 773.3 774.7
38 Consumer 304.8 300.0 295.0
39 Credit cards and related plans 134.9 130.3 126.5
40 Other 169.9 169.7 168.5
41 Security(3) 7.1 7.6 8.4
42 Other loans and leases 96.0 96.9 98.9
43 Interbank loans 87.8 100.6 114.3
44 Cash assets(4) 88.1 85.1 82.0
45 Other assets(5) 114.9 115.1 120.6
46 Total assets(6) 2,339.7 2,349.7 2,363.4
Liabilities
47 Deposits 1,823.4 1,836.9 1,853.2
48 Transaction 300.3 294.2 293.9
49 Nontransaction 1,523.2 1,542.6 1,559.3
50 Large time 300.3 306.1 302.9
51 Other 1,222.9 1,236.5 1,256.4
52 Borrowings 343.9 341.2 333.3
53 From banks in the U.S. 158.1 158.1 151.6
54 From others 185.7 183.2 181.7
55 Net due to related foreign offices 16.8 16.7 15.4
56 Other liabilities 53.4 53.9 56.1
57 Total liabilities 2,237.5 2,248.6 2,258.1
58 Residual (assets less liabilities)(7) 102.2 101.0 105.3
Wednes-
day
Monthly averages figures
2001 2001
Account Apr.(r) May May 9
Seasonally adjusted
Assets
1 Bank credit 2,082.1 2,092.3 2,084.6
2 Securities in bank credit 548.6 551.3 548.3
3 U.S. government securities 349.8 349.7 348.0
4 Other securities 198.8 201.6 200.3
5 Loans and leases in bank credit(2) 1,533.5 1,541.0 1,536.3
6 Commercial and industrial 297.3 297.3 296.8
7 Real estate 824.4 829.1 827.5
8 Revolving home equity 48.3 49.2 48.9
9 Other 776.1 779.9 778.5
10 Consumer 301.2 302.5 300.4
11 Security(3) 8.6 8.7 8.6
12 Other loans and leases 102.0 103.4 103.1
13 Interbank loans 118.5 123.7 120.5
14 Cash assets(4) 86.6 87.1 84.7
15 Other assets(5) 123.9 122.7 124.6
16 Total assets(6) 2,384.1 2,398.6 2,387.3
Liabilities
17 Deposits 1,869.9 1,878.1 1,868.8
18 Transaction 298.6 301.3 289.0
19 Nontransaction 1,571.4 1,576.8 1,579.9
20 Large time 303.0 300.9 303.2
21 Other 1,268.3 1,275.8 1,276.7
22 Borrowings 336.7 340.2 339.2
23 From banks in the U.S. 151.4 153.3 151.4
24 From others 185.3 186.9 187.7
25 Net due to related foreign offices 12.8 16.6 17.0
26 Other liabilities 56.4 57.0 56.3
27 Total liabilities 2,275.8 2,291.9 2,281.3
28 Residual (assets less liabilities)(7) 108.2 106.8 106.1
Not seasonally adjusted
Assets
29 Bank credit 2,081.8 2,092.8 2,086.0
30 Securities in bank credit 551.3 552.9 550.5
31 U.S. government securities 352.5 351.3 350.2
32 Other securities 198.8 201.6 200.3
33 Loans and leases in bank credit(2) 1,530.5 1,539.9 1,535.5
34 Commercial and industrial 299.4 299.9 299.8
35 Real estate 824.1 829.9 827.9
36 Revolving home equity 48.3 49.3 49.1
37 Other 775.8 780.5 778.8
38 Consumer 297.5 299.8 297.5
39 Credit cards and related plans 129.6 131.9 129.8
40 Other 167.9 167.9 167.8
41 Security(3) 8.7 8.4 8.4
42 Other loans and leases 100.9 102.0 101.8
43 Interbank loans 122.5 114.7 116.5
44 Cash assets(4) 83.7 85.9 81.0
45 Other assets(5) 123.9 122.7 124.6
46 Total assets(6) 2,384.8 2,388.8 2,381.0
Liabilities
47 Deposits 1,877.2 1,871.6 1,867.4
48 Transaction 298.0 296.2 282.9
49 Nontransaction 1,579.1 1,575.5 1,584.5
50 Large time 303.0 300.9 303.2
51 Other 1,276.1 1,274.5 1,281.3
52 Borrowings 336.7 340.2 339.2
53 From banks in the U.S. 151.4 153.3 151.4
54 From others 185.3 186.9 187.7
55 Net due to related foreign offices 12.8 16.6 17.0
56 Other liabilities 56.4 57.0 56.3
57 Total liabilities 2,283.1 2,285.4 2,279.8
58 Residual (assets less liabilities)(7) 101.8 103.4 101.1
Wednesday figures
2001
Account May 16 May 23 May 30
Seasonally adjusted
Assets
1 Bank credit 2,092.0 2,095.6 2,097.7
2 Securities in bank credit 551.2 552.1 553.7
3 U.S. government securities 348.7 350.5 351.7
4 Other securities 202.6 201.6 202.0
5 Loans and leases in bank credit(2) 1,540.8 1,543.5 1,544.0
6 Commercial and industrial 297.2 297.3 297.6
7 Real estate 828.6 829.6 831.0
8 Revolving home equity 49.2 49.3 49.5
9 Other 779.4 780.3 781.5
10 Consumer 302.7 304.3 303.0
11 Security(3) 8.8 8.7 8.8
12 Other loans and leases 103.5 103.5 103.6
13 Interbank loans 124.4 125.6 125.6
14 Cash assets(4) 88.2 85.9 89.4
15 Other assets(5) 120.9 120.1 124.0
16 Total assets(6) 2,398.4 2,400.0 2,409.6
Liabilities
17 Deposits 1,876.8 1,877.9 1,887.8
18 Transaction 298.4 309.3 314.0
19 Nontransaction 1,578.4 1,568.7 1,573.8
20 Large time 301.2 299.7 299.5
21 Other 1,277.1 1,269.0 1,274.3
22 Borrowings 337.0 341.7 342.6
23 From banks in the U.S. 152.5 155.5 153.9
24 From others 184.5 186.2 188.7
25 Net due to related foreign offices 18.9 15.2 16.5
26 Other liabilities 57.0 57.4 57.4
27 Total liabilities 2,289.7 2,292.2 2,304.3
28 Residual (assets less liabilities)(7) 108.7 107.8 105.3
Not seasonally adjusted
Assets
29 Bank credit 2,093.2 2,096.2 2,096.7
30 Securities in bank credit 552.9 553.6 554.7
31 U.S. government securities 350.3 352.0 352.7
32 Other securities 202.6 201.6 202.0
33 Loans and leases in bank credit(2) 1,540.3 1,542.6 1,542.0
34 Commercial and industrial 300.0 299.8 299.7
35 Real estate 829.6 831.1 831.6
36 Revolving home equity 49.4 49.4 49.5
37 Other 780.2 781.7 782.1
38 Consumer 300.3 301.9 300.0
39 Credit cards and related plans 132.2 133.8 132.2
40 Other 168.0 168.1 167.8
41 Security(3) 8.5 8.2 8.4
42 Other loans and leases 102.0 101.6 102.2
43 Interbank loans 114.8 112.2 114.2
44 Cash assets(4) 85.3 81.2 95.8
45 Other assets(5) 120.9 120.1 124.0
46 Total assets(6) 2,387.0 2,382.5 2,403.5
Liabilities
47 Deposits 1,870.0 1,862.9 1,883.4
48 Transaction 291.7 297.7 315.7
49 Nontransaction 1,578.3 1,565.1 1,567.6
50 Large time 301.2 299.7 299.5
51 Other 1,277.1 1,265.4 1,268.1
52 Borrowings 337.0 341.7 342.6
53 From banks in the U.S. 152.5 155.5 153.9
54 From others 184.5 186.2 188.7
55 Net due to related foreign offices 18.9 15.2 16.5
56 Other liabilities 57.0 57.4 57.4
57 Total liabilities 2,282.9 2,277.1 2,299.9
58 Residual (assets less liabilities)(7) 104.1 105.4 103.6
E. Foreign-related institutions
Billions of dollars
Monthly averages
2000 2000
Account May Nov. Dec.(r)
Seasonally adjusted
Assets
1 Bank credit 584.8 588.1 599.4
2 Securities in bank credit 212.4 195.5 205.0
3 U.S. government securities 80.4 68.1 69.2
4 Other securities 132.0 127.5 135.9
5 Loans and leases in bank credit(2) 372.4 392.6 394.4
6 Commercial and industrial 205.3 206.1 209.0
7 Real estate 17.7 18.5 18.5
8 Security(3) 81.5 100.3 100.1
9 Other loans and leases 67.9 67.7 66.7
10 Interbank loans 30.4 26.8 27.0
11 Cash assets(4) 43.1 38.5 39.9
12 Other assets(5) 40.5 40.0 36.1
13 Total assets(6) 698.5 693.1 702.1
Liabilities
14 Deposits 383.3(r) 379.6(r) 380.0
15 Transaction 11.1 10.8 10.6
16 Nontransaction 372.2(r) 368.8(r) 369.4
17 Borrowings 203.1 223.0 239.6
18 From banks in the U.S. 18.1 18.6 22.2
19 From others 185.0 204.4 217.4
20 Net due to related foreign offices 20.6 7.3 -1.8
21 Other liabilities 84.2 75.4 72.6
22 Total liabilities 691.2(r) 685.2(r) 690.5
23 Residual (assets less
liabilities)(7) 7.4(r) 7.9(r) 11.6
Not seasonally adjusted
Assets
24 Bank credit 580.6 590.8 610.1
25 Securities in bank credit 212.4 195.5 205.0
26 U.S. government securities 80.4 68.1 69.2
27 Trading account 12.4 10.9 11.8
28 Investment account 68.0 57.2 57.3
29 Other securities 132.0 127.5 135.9
30 Trading account 87.7 88.0 90.7
31 Investment account 44.2 39.4 45.1
32 Loans and leases in bank credit(2) 368.2 395.3 405.1
33 Commercial and industrial 202.6 206.7 211.4
34 Real estate 17.7 18.5 18.5
35 Security(3) 80.7 101.8 106.2
36 Other loans and leases 67.2 68.2 69.0
37 Interbank loans 30.4 26.8 27.0
38 Cash assets(4) 42.1 40.6 42.7
39 Other assets(5) 39.9 40.0 37.9
40 Total assets(6) 692.7 697.9 717.4
Liabilities
41 Deposits 384.5(r) 382.3(r) 390.7
42 Transaction 10.7 11.0 11.3
43 Nontransaction 373.8(r) 371.3(r) 379.4
44 Borrowings 203.1 223.0 239.6
45 From banks in the U.S. 18.1 18.6 22.2
46 From others 185.0 204.4 217.4
47 Net due to related foreign offices 17.4 7.6 2.9
48 Other liabilities 82.7 75.6 74.7
49 Total liabilities 687.6(r) 688.4(r) 708.0
50 Residual (assets less
liabilities)(7) 5.1(r) 9.4(r) 9.4
Monthly averages
2001
Account Jan.(r) Feb.(r) Mar.(r)
Seasonally adjusted
Assets
1 Bank credit 613.5 607.4 620.8
2 Securities in bank credit 208.3 198.8 205.6
3 U.S. government securities 66.4 64.3 67.9
4 Other securities 141.9 134.6 137.7
5 Loans and leases in bank credit(2) 405.2 408.6 415.2
6 Commercial and industrial 214.5 217.4 220.6
7 Real estate 18.5 18.3 18.2
8 Security(3) 105.1 105.3 106.6
9 Other loans and leases 67.2 67.6 69.9
10 Interbank loans 29.2 28.4 30.7
11 Cash assets(4) 41.5 41.8 40.7
12 Other assets(5) 37.1 36.5 38.3
13 Total assets(6) 720.9 713.8 730.2
Liabilities
14 Deposits 386.6 380.5 378.6
15 Transaction 10.2 10.3 9.4
16 Nontransaction 376.4 370.2 369.2
17 Borrowings 243.5 238.5 233.3
18 From banks in the U.S. 25.2 22.5 24.2
19 From others 218.3 216.0 209.1
20 Net due to related foreign offices 3.5 4.8 21.8
21 Other liabilities 79.6 77.1 82.5
22 Total liabilities 713.2 700.9 716.2
23 Residual (assets less
liabilities)(7) 7.7 12.9 13.9
Not seasonally adjusted
Assets
24 Bank credit 621.6 610.7 616.0
25 Securities in bank credit 208.3 198.8 205.6
26 U.S. government securities 66.4 64.3 67.9
27 Trading account 11.4 10.4 9.5
28 Investment account 55.1 53.8 58.4
29 Other securities 141.9 134.6 137.7
30 Trading account 96.3 90.8 94.5
31 Investment account 45.6 43.8 43.2
32 Loans and leases in bank credit(2) 413.3 411.9 410.4
33 Commercial and industrial 216.2 219.6 221.7
34 Real estate 18.5 18.3 18.2
35 Security(3) 110.4 106.3 100.6
36 Other loans and leases 68.3 67.7 69.9
37 Interbank loans 29.2 28.4 30.7
38 Cash assets(4) 44.1 41.9 39.3
39 Other assets(5) 30.3 37.4 39.0
40 Total assets(6) 732.8 718.1 724.6
Liabilities
41 Deposits 396.5 388.7 383.1
42 Transaction 10.4 10.1 9.2
43 Nontransaction 386.1 378.7 374.0
44 Borrowings 243.5 238.5 233.3
45 From banks in the U.S. 25.2 22.5 24.2
46 From others 218.3 216.0 209.1
47 Net due to related foreign offices 6.8 8.0 21.9
48 Other liabilities 81.0 78.5 82.6
49 Total liabilities 727.8 713.7 720.9
50 Residual (assets less
liabilities)(7) 5.1 4.4 3.6
Wednes-
day
Monthly averages figures
2001 2001
Account Apr. May May 9
Seasonally adjusted
Assets
1 Bank credit 616.5(r) 602.9 611.9
2 Securities in bank credit 214.6(r) 210.3 213.8
3 U.S. government securities 75.0 69.8 71.7
4 Other securities 139.6(r) 140.5 142.2
5 Loans and leases in bank credit(2) 401.9(r) 392.6 398.1
6 Commercial and industrial 220.8(r) 218.9 222.0
7 Real estate 17.9(r) 18.0 18.3
8 Security(3) 95.3(r) 87.8 88.3
9 Other loans and leases 67.9 67.8 69.5
10 Interbank loans 29.5(r) 31.9 28.2
11 Cash assets(4) 39.3 37.5 39.3
12 Other assets(5) 40.9 38.9 38.0
13 Total assets(6) 725.8(r) 710.7 717.0
Liabilities
14 Deposits 392.6(r) 406.8 382.8
15 Transaction 10.5 10.5 10.8
16 Nontransaction 382.1(r) 396.3 371.9
17 Borrowings 236.0 216.4 220.5
18 From banks in the U.S. 23.5 19.5 20.7
19 From others 212.5 196.8 199.8
20 Net due to related foreign offices 4.2 -4.7 17.6
21 Other liabilities 87.9(r) 86.3 86.4
22 Total liabilities 720.7(r) 704.7 707.3
23 Residual (assets less
liabilities)(7) 5.1 6.1 9.7
Not seasonally adjusted
Assets
24 Bank credit 613.7(r) 598.2 607.2
25 Securities in bank credit 214.6(r) 210.3 213.8
26 U.S. government securities 75.0 69.8 71.7
27 Trading account 14.2 13.4 13.9
28 Investment account 60.8 56.4 57.8
29 Other securities 139.6(r) 140.5 142.2
30 Trading account 96.5(r) 98.2 98.8
31 Investment account 43.1 42.3 43.3
32 Loans and leases in bank credit(2) 399.1(r) 387.9 393.4
33 Commercial and industrial 219.0 215.8 218.9
34 Real estate 17.9(r) 18.0 18.3
35 Security(3) 94.0 87.0 87.4
36 Other loans and leases 68.2 67.0 68.7
37 Interbank loans 29.5(r) 31.9 28.2
38 Cash assets(4) 37.7 36.6 38.2
39 Other assets(5) 40.0 38.3 38.0
40 Total assets(6) 720.5(r) 704.6 711.2
Liabilities
41 Deposits 395.4 407.9 385.9
42 Transaction 10.0 10.1 10.2
43 Nontransaction 385.5(r) 397.8 375.7
44 Borrowings 236.0 216.4 220.5
45 From banks in the U.S. 23.5 19.5 20.7
46 From others 212.5 196.8 199.8
47 Net due to related foreign offices -.4 -7.9 16.3
48 Other liabilities 85.8(r) 84.8 85.8
49 Total liabilities 716.9(r) 701.1 708.5
50 Residual (assets less
liabilities)(7) 3.6 3.4 2.7
Wednesday figures
2001
Account May 16 May 23 May 30
Seasonally adjusted
Assets
1 Bank credit 594.9 597.9 608.1
2 Securities in bank credit 207.1 209.9 209.4
3 U.S. government securities 68.7 69.9 68.4
4 Other securities 138.4 140.0 140.9
5 Loans and leases in bank credit(2) 387.8 387.9 398.7
6 Commercial and industrial 217.3 218.9 218.0
7 Real estate 18.0 18.0 18.0
8 Security(3) 85.7 83.4 95.3
9 Other loans and leases 66.8 67.6 67.3
10 Interbank loans 36.9 30.6 33.9
11 Cash assets(4) 37.9 36.5 36.5
12 Other assets(5) 39.6 40.7 37.9
13 Total assets(6) 709.0 705.3 716.0
Liabilities
14 Deposits 409.4 417.6 423.3
15 Transaction 11.3 10.0 10.1
16 Nontransaction 398.1 407.7 413.2
17 Borrowings 215.7 209.9 220.1
18 From banks in the U.S. 22.2 18.4 17.2
19 From others 193.5 191.5 202.9
20 Net due to related foreign offices -6.8 -14.7 -16.9
21 Other liabilities 86.5 86.1 86.4
22 Total liabilities 704.7 698.9 712.9
23 Residual (assets less
liabilities)(7) 4.3 6.4 3.1
Not seasonally adjusted
Assets
24 Bank credit 591.2 591.2 603.7
25 Securities in bank credit 207.1 209.9 209.4
26 U.S. government securities 68.7 69.9 68.4
27 Trading account 13.3 13.5 13.2
28 Investment account 55.4 56.4 55.2
29 Other securities 138.4 140.0 140.9
30 Trading account 95.7 98.3 99.5
31 Investment account 42.7 41.7 41.4
32 Loans and leases in bank credit(2) 383.9 381.3 394.3
33 Commercial and industrial 214.4 215.2 214.9
34 Real estate 18.0 18.0 18.0
35 Security(3) 85.2 82.0 94.6
36 Other loans and leases 66.2 66.1 66.8
37 Interbank loans 36.9 30.6 33.9
38 Cash assets(4) 37.1 35.2 36.1
39 Other assets(5) 39.3 39.8 37.1
40 Total assets(6) 703.9 696.4 710.3
Liabilities
41 Deposits 409.5 418.1 423.6
42 Transaction 10.7 9.5 10.1
43 Nontransaction 398.8 408.6 413.5
44 Borrowings 215.7 209.9 220.1
45 From banks in the U.S. 22.2 18.4 17.2
46 From others 193.5 191.5 202.9
47 Net due to related foreign offices -10.1 -19.1 -21.3
48 Other liabilities 84.9 84.0 84.3
49 Total liabilities 700.0 692.9 706.7
50 Residual (assets less
liabilities)(7) 3.9 3.5 3.5
F. Memo items
Billions of dollars
Monthly averages
2000 2000 2001
Account May Nov. Dec.(r) Jan.(r)
MEMO
Large domestically chartered
banks, adjusted for
mergers
1 Revaluation gains on off-
balance-sheet items(8) 72.4 68.0 77.8 79.5
2 Revaluation losses on off-
balance-sheet items(8) 72.9 72.6 83.1 82.5
3 Mortgage-backed securities(9) 253.7 240.6 242.6 248.0
4 Pass-through 178.6 174.3 177.5 182.6
5 CMO, REMIC, and other 75.1 66.4 65.0 65.3
6 Net unrealized gains (losses)
on available-for-sale
securities(10) -10.3 -1.2 1.4 -2.5
7 Off-shore credit to U.S.
residents(11) 23.5 23.1 23.4 23.0
8 Securitized consumer
loans(12) n.a. 80.5 82.2 82.4
9 Credit cards and related
plans n.a. 67.3 68.6 68.5
10 Other n.a. 13.2 13.6 13.9
11 Securitized business
loans(12) n.a. 17.8 18.6 18.4
Small domestically chartered
commercial banks,
adjusted for mergers
12 Mortgage-backed securities(9) 205.7 213.0 214.5 218.2
13 Securitized consumer
loans(12) n.a. 225.6 231.1 231.5
14 Credit cards and related
plans n.a. 216.1 221.9 222.4
15 Other n.a. 9.5 9.2 9.1
Foreign-related institutions
16 Revaluation gains on off-
balance-sheet items(8) 50.4 44.6 45.7 51.8
17 Revaluation losses on off-
balance-sheet items(8) 47.0 40.8 41.7 48.9
18 Securitized business
loans(12) n.a. 22.8 23.1 23.2
Monthly averages
2001
Account Feb.(r) Mar.(r) Apr. May
MEMO
Large domestically chartered
banks, adjusted for
mergers
1 Revaluation gains on off-
balance-sheet items(8) 77.6 80.6 79.6 81.7
2 Revaluation losses on off-
balance-sheet items(8) 81.0 79.8 74.9 74.7
3 Mortgage-backed securities(9) 244.5 244.8 252.2 258.9
4 Pass-through 178.9 180.9 189.8(r) 195.2
5 CMO, REMIC, and other 65.6 63.9 62.4(r) 63.7
6 Net unrealized gains (losses)
on available-for-sale
securities(10) -.6 -.3 -.3 -1.7
7 Off-shore credit to U.S.
residents(11) 22.7 22.6 21.7 21.0
8 Securitized consumer
loans(12) 80.8 80.2 78.8(r) 77.0
9 Credit cards and related
plans 67.3 67.3 66.4(r) 65.0
10 Other 13.4 12.9 12.4 12.0
11 Securitized business
loans(12) 18.6 18.7 18.8 19.8
Small domestically chartered
commercial banks,
adjusted for mergers
12 Mortgage-backed securities(9) 222.7 229.1 237.7(r) 242.3
13 Securitized consumer
loans(12) 235.6 238.6 241.2(r) 242.2
14 Credit cards and related
plans 226.8 229.9 232.6 233.8
15 Other 8.9 8.7 8.6(r) 8.4
Foreign-related institutions
16 Revaluation gains on off-
balance-sheet items(8) 49.4 52.5 54.1 56.2
17 Revaluation losses on off-
balance-sheet items(8) 47.1 49.5 50.6(r) 51.6
18 Securitized business
loans(12) 22.4 21.5 19.8 18.0
Wednesday figures
2001
Account May 9 May 16 May 23 May 30
MEMO
Large domestically chartered
banks, adjusted for
mergers
1 Revaluation gains on off-
balance-sheet items(8) 84.1 85.0 80.5 78.1
2 Revaluation losses on off-
balance-sheet items(8) 74.9 74.6 74.8 74.9
3 Mortgage-backed securities(9) 262.3 257.4 253.9 260.0
4 Pass-through 196.6 194.0 191.8 196.9
5 CMO, REMIC, and other 65.7 63.4 62.1 63.1
6 Net unrealized gains (losses)
on available-for-sale
securities(10) -1.0 -1.7 -1.9 -2.4
7 Off-shore credit to U.S.
residents(11) 21.1 20.9 21.2 20.6
8 Securitized consumer
loans(12) 78.0 77.0 75.8 76.8
9 Credit cards and related
plans 65.9 65.0 64.0 65.0
10 Other 12.1 12.0 11.8 11.8
11 Securitized business
loans(12) 19.8 19.8 19.8 19.9
Small domestically chartered
commercial banks,
adjusted for mergers
12 Mortgage-backed securities(9) 240.9 241.2 243.5 243.7
13 Securitized consumer
loans(12) 242.6 240.5 241.7 243.7
14 Credit cards and related
plans 234.1 232.1 233.2 235.3
15 Other 8.5 8.5 8.4 8.4
Foreign-related institutions
16 Revaluation gains on off-
balance-sheet items(8) 56.0 54.3 57.7 56.9
17 Revaluation losses on off-
balance-sheet items(8) 51.1 50.4 52.8 51.9
18 Securitized business
loans(12) 18.4 18.1 17.7 17.5
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 made 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 1996 1997 1998
1 All issuers 775,371 966,699 1,163,303
Financial
companies(1)
2 Dealer-placed
paper, total(2) 361,147 513,307 614,142
3 Directly placed
paper, total(3) 229,662 252,536 322,030
4 Nonfinancial
companies(4) 184,563 200,857 227,132
Year ending December 2000
Item 1999 2000 Nov. Dec.
1 All issuers 1,403,023 1,615,341 1,624,421 1,615,341
Financial
companies(1)
2 Dealer-placed
paper, total(2) 786,643 973,060 960,701 973,060
3 Directly placed
paper, total(3) 337,240 298,848 312,438 298,848
4 Nonfinancial
companies(4) 279,140 343,433 351,282 343,433
2001
Item Jan. Feb. Mar. Apr.
1 All issuers 1,566,104 1,544,572 1,511,354 1,519,528
Financial
companies(1)
2 Dealer-placed
paper, total(2) 976,735 977,791 978,225 995,072
3 Directly placed
paper, total(3) 270,922 263,554 249,420 247,333
4 Nonfinancial
companies(4) 318,447 303,227 283,711 277,123
(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
1998--Jan. 1 8.50
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
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Average
Period rate
1998 8.35
1999 8.00
2000 9.23
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
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
(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
Item 1998 1999 2000
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.35 4.97 6.24
2 Discount window borrowing(2,4) 4.92 4.62 5.73
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.40 5.09 6.27
4 2-month 5.38 5.14 6.29
5 3-month 5.34 5.18 6.31
Financial
6 1-month 5.42 5.11 6.28
7 2-month 5.40 5.16 6.30
8 3-month 5.37 5.22 6.33
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 5.39 5.24 6.23
16 6-month 5.30 5.30 6.37
Certificates of deposit,
secondary, market(3,10)
17 1-month 5.49 5.19 6.35
18 3-month 5.47 5.33 6.46
19 6-month 5.44 5.46 6.59
20 Eurodollar deposits,
3-month(3,11) 5.45 5.31 6.45
U.S. Treasury bills
Secondary market(3,5)
21 3-month 4.78 4.64 5.82
22 6-month 4.83 4.75 5.90
23 1-year 4.80 4.81 5.78
Auction high(3,5,12)
24 3-month 4.81 4.66 5.66
25 6-month 4.85 4.76 5.85
26 1-year 4.85 4.78 5.85
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 5.05 5.08 6.11
28 2-year 5.13 5.43 6.26
29 3-year 5.14 5.49 6.22
30 5-year 5.15 5.55 6.16
31 7-year 5.28 5.79 6.20
32 10-year 5.26 5.65 6.03
33 20-year 5.72 6.20 6.23
34 30-year 5.58 5.87 5.94
Composite
35 More than 10 years (long-term) 5.69 6.14 6.41
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 4.93 5.28 5.58
37 Baa 5.14 5.70 6.19
38 Bond Buyer series(15) 5.09 5.43 5.71
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 6.87 7.45 7.98
Rating group
40 Aaa 6.53 7.05 7.62
41 Aa 6.80 7.36 7.83
42 A 6.93 7.53 8.11
43 Baa 7.22 7.88 8.36
MEMO
Dividend-price ratio(17)
44 Common stocks 1.49 1.25 1.15
2001
Item Feb. Mar. Apr. May
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.49 5.31 4.80 4.21
2 Discount window borrowing(2,4) 5.00 4.81 4.28 3.73
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.39 5.02 4.71 4.06
4 2-month 5.25 4.87 4.54 3.98
5 3-month 5.14 4.78 4.44 3.93
Financial
6 1-month 5.41 5.06 4.74 4.08
7 2-month 5.29 4.93 4.57 4.00
8 3-month 5.19 4.81 4.47 3.96
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 5.47 5.09 4.77 4.11
18 3-month 5.26 4.89 4.53 4.02
19 6-month 5.12 4.74 4.41 4.01
20 Eurodollar deposits,
3-month(3,11) 5.26 4.89 4.55 4.01
U.S. Treasury bills
Secondary market(3,5)
21 3-month 4.88 4.42 3.87 3.62
22 6-month 4.71 4.28 3.85 3.62
23 1-year 4.51 4.11 3.80 3.60
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 4.68 4.30 3.98 3.78
28 2-year 4.66 4.34 4.23 4.26
29 3-year 4.71 4.43 4.42 4.51
30 5-year 4.89 4.64 4.76 4.93
31 7-year 5.10 4.88 5.03 5.24
32 10-year 5.10 4.89 5.14 5.39
33 20-year 5.62 5.49 5.78 5.92
34 30-year 5.45 5.34 5.65 5.78
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 5.09 5.00 5.14 5.15
37 Baa 5.86 5.80 5.96 5.94
38 Bond Buyer series(15) 5.18 5.13 5.27 5.29
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.50 7.41 7.63 7.69
Rating group
40 Aaa 7.10 6.98 7.20 7.29
41 Aa 7.32 7.22 7.43 7.50
42 A 7.69 7.61 7.82 7.88
43 Baa 7.87 7.84 8.07 8.07
MEMO
Dividend-price ratio(17)
44 Common stocks 1.22 1.33 1.32 1.23
2001, week ending
Apr. May May May May
Item 27 4 11 18 25
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 4.42 4.53 4.43 4.37 3.98
2 Discount window borrowing(2,4) 4.00 4.00 4.00 3.86 3.50
Commercial paper(3,5,6)
Nonfinancial
3 1-month 4.36 4.35 4.06 3.98 3.98
4 2-month 4.25 4.19 3.98 3.94 3.92
5 3-month 4.19 4.14 3.93 3.90 3.87
Financial
6 1-month 4.41 4.31 4.09 4.02 4.00
7 2-month 4.28 4.23 3.99 3.96 3.94
8 3-month 4.21 4.15 3.96 3.93 3.92
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a. n.a.
11 6-month n.a. 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. n.a.
13 3-month n.a. n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary, market(3,10)
17 1-month 4.42 4.33 4.12 4.06 4.04
18 3-month 4.26 4.20 4.01 4.00 3.98
19 6-month 4.20 4.17 4.00 3.99 3.98
20 Eurodollar deposits,
3-month(3,11) 4.26 4.19 3.99 3.99 3.97
U.S. Treasury bills
Secondary market(3,5)
21 3-month 3.72 3.78 3.65 3.54 3.58
22 6-month 3.71 3.77 3.60 3.59 3.61
23 1-year 3.65 3.72 3.58 3.58 3.59
Auction high(3,5,12)
24 3-month n.a. n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 3.82 3.90 3.76 3.76 3.78
28 2-year 4.19 4.23 4.16 4.30 4.33
29 3-year 4.43 4.49 4.38 4.55 4.58
30 5-year 4.83 4.91 4.78 4.96 5.01
31 7-year 5.11 5.14 5.12 5.30 5.33
32 10-year 5.25 5.28 5.29 5.46 5.46
33 20-year 5.88 5.83 5.85 5.98 5.98
34 30-year 5.76 5.71 5.74 5.83 5.81
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 5.16 5.15 5.12 5.17 5.15
37 Baa 6.01 5.96 5.92 5.98 5.92
38 Bond Buyer series(15) 5.34 5.32 5.25 5.31 5.30
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.68 7.61 7.65 7.73 7.71
Rating group
40 Aaa 7.26 7.21 7.25 7.34 7.32
41 Aa 7.49 7.42 7.46 7.54 7.52
42 A 7.88 7.81 7.85 7.93 7.90
43 Baa 8.09 8.00 8.03 8.11 8.10
MEMO
Dividend-price ratio(17)
44 Common stocks 1.27 1.23 1.24 1.22 1.22
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 the 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 Moodys' 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 1998 1999 2000 Sept.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Ex-
change (Dec. 31,
1965 = 50) 550.65 619.52 643.71 667.05
2 Industrial 684.35 775.29 809.40 829.99
3 Transportation 468.61 491.62 414.73 404.23
4 Utility 190.52 284.82 478.99 463.76
5 Finance 516.65 530.97 552.48 616.89
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 1,085.50 1,327.33 1,427.22 1,468.06
7 American Stock Ex-
change (Aug. 31,
1973=50)(2) 682.69 770.90 922.22 952.74
Volume of trading
(thousands of
shares)
8 New York Stock Ex-
change 666,534 799,554 1,026,867 1,026,597
9 American Stock Ex-
change 28,870 32,629 51,437 47,047
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 140,980 228,530 198,790 250,780
Free credit balances
at brokers(4)
11 Margin accounts(5) 40,250 55,130 100,680 70,960
12 Cash accounts 62,450 79,070 84,400 74,766
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 Oct. Nov. Dec.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Ex-
change (Dec. 31,
1965 = 50) 646.53 646.64 645.44
2 Industrial 797.00 800.88 792.66
3 Transportation 403.20 434.92 457.53
4 Utility 469.16 455.66 444.16
5 Finance 587.76 600.45 621.62
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 1,390.14 1,375.04 1,330.93
7 American Stock Ex-
change (Aug. 31,
1973=50)(2) 913.64 892.60 870.16
Volume of trading
(thousands of
shares)
8 New York Stock Ex-
change 1,167,025 1,015,606 1,183,149
9 American Stock Ex-
change 57,915 58,541 73,759
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker--dealers
(3) 233,380 219,110 198,790
Free credit balances
at brokers(4)
11 Margin accounts(5) 82,990 96,730 100,680
12 Cash accounts 73,410 74,050 84,400
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
2001
Indicator Jan. Feb. Mar.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Ex-
change (Dec. 31,
1965 = 50) 650.55 648.05 603.44
2 Industrial 796.74 799.38 744.21
3 Transportation 471.21 482.26 452.36
4 Utility 440.36 424.53 395.34
5 Finance 634.17 626.41 583.38
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 1,335.63 1,305.75 1,185.85
7 American Stock Ex-
change (Aug. 31,
1973=50)(2) 898.18 923.99 891.22
Volume of trading
(thousands of
shares)
8 New York Stock Ex-
change 1,299,986 1,117,977 1,251,569
9 American Stock Ex-
change 72,312 70,648 81,666
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker--dealers
(3) 197,110 186,110 165,350
Free credit balances
at brokers(4)
11 Margin accounts(5) 90,380 99,390 106,300
12 Cash accounts 81,380 78,660 77,520
Margin requirements (percent of
market value and effective date)(6)
Dec. 6, 1971 Nov. 24, 1972
13 Margin stocks 55 65
14 Convertible bonds 50 50
15 Short sales 55 65
2001
Indicator Apr. May
Prices and trading
volume (averages of
daily figures)
Common stock prices
(indexes)
1 New York Stock Ex-
change (Dec. 31,
1965 = 50) 607.06 644.44
2 Industrial 747.48 798.94
3 Transportation 455.22 477.21
4 Utility 400.49 414.69
5 Finance 587.88 618.74
6 Standard & Poor's
Corporation
(1941-43 = 10)(1) 1,189.84 1,270.37
7 American Stock Ex-
change (Aug. 31,
1973=50)(2) 891.18 940.73
Volume of trading
(thousands of
shares)
8 New York Stock Ex-
change 1,247,382 1,091,366
9 American Stock Ex-
change 77,612 66,103
Customer financing
(millions of
dollars, end-of-period
balances)
10 Margin credit at
broker--dealers
(3) 166,940 174,180
Free credit balances
at brokers(4)
11 Margin accounts(5) 97,470 91,990
12 Cash accounts 77,460 76,260
Margin requirements
(percent of market value
and effective date)(6)
Jan. 3, 1974
13 Margin stocks 50
14 Convertible bonds 50
15 Short sales 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 Calendar
year
2000
Type of account
or operation 1998 1999 2000 Dec.
US. Budget(1)
1 Receipts,
total 1,721,798 1,827,302 2,025,218 200,489
2 On-budget 1,305,999 1,382,986 1,544,634 161,737
3 Off-budget 415,799 444,468 480,584 38,752
4 Outlays,
total 1,652,619 1,702,875 1,788,826 167,823
5 On-budget 1,336,015 1,382,097 1,458,061 132,747
6 Off-budget 316,604 320,778 330,765 35,075
7 Surplus or
deficit
(-),
total 69,179 124,579 236,392 32,666
8 On-budget -30,016 889 86,573 28,990
9 Off-budget 99,195 123,690 149,819 3,677
Source of
financing
(total)
10 Borrowing
from the
public -51,211 -88,674 -222,672 -36,689
11 Operating
cash (de-
crease,
or in-
crease
[-]) 4,743 -17,580 3,799 -9,632
12 Other(2) -22,711 -18,325 -17,519 13,655
MEMO
13 Treasury
operating
balance
(level,
end of
period) 38,878 56,458 52,659 21,069
14 Federal
Reserve
Banks 4,952 6,641 8,459 5,149
15 Tax and loan
accounts 33,926 49,817 44,199 15,920
Calendar year
2001
Type of account
or operation Jan. Feb. Mar. Apr. May
US. Budget(1)
1 Receipts,
total 219,215 110,481 130,071(r) 331,796 125,194
2 On-budget 171,001 70,555 84,120(r) 278,611 84,363
3 Off-budget 48,214 39,926 45,951 53,185 40,831
4 Outlays,
total 142,836 158,649 180,733(r) 141,999 153,112
5 On-budget 144,448 123,573 145,182(r) 109,938 118,121
6 Off-budget -1,613 35,076 35,550 32,062 34,992
7 Surplus or
deficit
(-),
total 76,379 -48,168 -50,662 189,796 -27,919
8 On-budget 26,553 -53,018 -61,062 168,673 -33,758
9 Off-budget 49,827 4,850 10,401 21,123 5,839
Source of
financing
(total)
10 Borrowing
from the
public -23,990 15,100 32,557 -135,572 -20,608
11 Operating
cash (de-
crease,
or in-
crease
[-]) -45,761 45,717 -7,171 -36,846 58,856
12 Other(2) -6,628 -12,649 25,276 -17,378 -10,329
MEMO
13 Treasury
operating
balance
(level,
end of
period) 66,830 21,113 28,284 65,130 6,274
14 Federal
Reserve
Banks 5,256 4,956 5,657 7,894 4,396
15 Tax and loan
accounts 61,574 16,158 22,627 57,236 1,878
(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 U.S. Government;
fiscal year totals: U.S. Office of Management and Budget, Budget of
the U.S. Government when available.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS(1)
Millions of dollars
Fiscal year Calendar year
1999
Source or type 1999 2000 H1 H2
RECEIPTS
1 All sources 1,827,302 2,025,218 966,045 892,266
2 Individual
income
taxes, net 879,480 1,004,462 481,907 425,451
3 Withheld 693,940 780,397 351,068 372,012
4 Nonwithheld 308,185 358,049 240,278 68,302
5 Refunds 122,706 134,046 109,467 14,841
Corporation
income taxes
6 Gross receipts 216,324 235,655 106,861 110,111
7 Refunds 31,645 28,367 17,092 13,996
8 Social insurance
taxes and
contribu-
tions, net 611,833 652,852 324,831 292,551
9 Employment
taxes and
contribu-
tions(2) 580,880 620,451 306,235 280,059
10 Unemployment
insurance 26,480 27,640 16,378 10,173
11 Other net
receipts(3) 4,473 4,761 2,216 2,319
12 Excise taxes 70,414 68,865 31,015 34,262
13 Customs deposits 18,336 19,914 8,440 10,287
14 Estate and gift
taxes 27,782 29,010 14,915 14,001
15 Miscellaneous
receipts(4) 34,929 42,826 15,140 19,569
OUTLAYS
16 All types 1,702,875 1,788,826 817,227 882,465
17 National defense 274,873 294,494 134,414 149,573
18 International
affairs 15,243 17,216 6,879 8,530
19 General science,
space, and
technology 18,125 18,637 9,319 10,089
20 Energy 912 -1,060 797 -90
21 Natural
resources
and environ-
ment 23,970 25,031 10,351 12,100
22 Agriculture 23,011 36,641 9,803 20,887
23 Commerce and
housing
credit 2,649 3,211 -1,629 7,353
24 Transportation 42,531 46,854 17,082 23,199
25 Community and
regional
development 11,870 10,629 5,368 6,806
26 Education,
training,
employment,
and social
services 56,402 59,201 29,003 27,532
27 Health 141,079 154,534 69,320 74,490
28 Social security
and Medicare 580,488 606,549 261,146 295,030
29 Income security 237,707 247,895 126,552 113,504
30 Veterans
benefits and
services 43,212 47,083 20,105 23,412
31 Administration
of justice 25,924 27,820 13,149 13,459
32 General
government 15,771 13,454 6,641 7,010
33 Net interest(5) 229,735 223,218 116,655 112,420
34 Undistributed
offsetting
receipts(6) -40,445 -42,581 -17,724 -22,850
Calendar year
2000 2001
Source or type H1 H2 Mar. Apr. May
RECEIPTS
1 All sources 1,089,763 952,942 130,071 331,796 125,194
2 Individual
income
taxes, net 550,208 458,679 33,591 220,015 46,718
3 Withheld 388,526 395,572 67,068 64,489 63,237
4 Nonwithheld 281,103 77,732 7,662 187,032 13,753
5 Refunds 119,477 14,628 41,153 31,518 30,282
Corporation
income taxes
6 Gross receipts 119,166 123,962 26,986 26,693 6,453
7 Refunds 13,781 15,776 4,849 2,948 1,349
8 Social insurance
taxes and
contribu-
tions, net 353,514 310,122 60,135 73,887 61,437
9 Employment
taxes and
contribu-
tions(2) 333,584 297,665 59,499 68,773 52,210
10 Unemployment
insurance 17,562 10,097 209 4,760 8,786
11 Other net
receipts(3) 2,368 2,360 427 354 441
12 Excise taxes 33,532 35,501 7,064 5,690 4,390
13 Customs deposits 9,218 10,676 1,653 1,477 1,501
14 Estate and gift
taxes 15,073 13,216 2,215 4,471 2,485
15 Miscellaneous
receipts(4) 22,831 16,556 3,276 2,510 3,559
OUTLAYS
16 All types 892,947 894,905 180,733 141,999 153,508
17 National defense 143,476 147,651 31,144 22,253 26,028
18 International
affairs 7,250 11,902 1,980 1,272 -1,490
19 General science,
space, and
technology 9,601 10,389 1,811 1,547 1,892
20 Energy -893 -595 187 -390 -25
21 Natural
resources
and environ-
ment 10,814 12,907 1,822 1,741 2,136
22 Agriculture 11,164 20,977 2,083 1,272 711
23 Commerce and
housing
credit -2,497 4,408 1,025 -260 -907
24 Transportation 21,054 25,841 3,899 3,593 4,850
25 Community and
regional
development 5,050 5,962 616 855 928
26 Education,
training,
employment,
and social
services 31,234 29,263 6,874 4,798 5,907
27 Health 75,871 81,413 14,763 14,844 14,954
28 Social security
and Medicare 306,966 307,473 57,468 50,826 55,876
29 Income security 133,915 113,212 31,652 19,913 22,005
30 Veterans
benefits and
services 23,174 22,615 6,333 2,164 2,865
31 Administration
of justice 13,981 14,635 2,559 2,562 2,450
32 General
government 6,198 6,461 1,100 1,162 849
33 Net interest(5) 115,545 104,685 18,568 17,816 18,363
34 Undistributed
offsetting
receipts(6) -19,346 -24,070 -3,150 -3,970 -3,882
(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 2002; 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
1999
Item Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 5,681 5,668 5,685
2 Public debt securities 5,652 5,639 5,656
3 Held by public 3,795 3,685 3,667
4 Held by agencies 1,857 1,954 1,989
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 5,566 5,552 5,568
9 Public debt securities 5,566 5,552 5,568
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
1999 2000
Item Dec. 31 Mar. 31 June 30
1 Federal debt outstanding 5,805 5,802 5,714
2 Public debt securities 5,776 5,773 5,686
3 Held by public 3,716 3,688 3,496
4 Held by agencies 2,061 2,085 2,190
5 Agency securities 29 28 28
6 Held by public 28 28 28
7 Held by agencies 1 0 0
8 Debt subject to statutory limit 5,687 5,687 5,601
9 Public debt securities 5,687 5,686 5,601
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
2000 2001
Item Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,702 5,690 5,801
2 Public debt securities 5,674 5,662 5,774
3 Held by public 3,439 3,414 3,434
4 Held by agencies 2,236 2,249 2,339
5 Agency securities 28 27 27
6 Held by public 28 27 27
7 Held by agencies 0 0 0
8 Debt subject to statutory limit 5,592 5,581 5,693
9 Public debt securities 5,591 5,580 5,692
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 Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1997 1998 1999
1 Total gross public debt 5,502.4 5,614.2 5,776.1
By type
2 Interest-bearing 5,494.9 5,605.4 5,766.1
3 Marketable 3,456.8 3,355.5 3,281.0
4 Bills 715.4 691.0 737.1
5 Notes 2,106.1 1,960.7 1,784.5
6 Bonds 587.3 621.2 643.7
7 Inflation-indexed
notes and
bonds(1) 33.0 67.6 100.7
8 Nonmarketable(2) 2,038.1 2,249.9 2,485.1
9 State and local
government
series 124.1 165.3 165.7
10 Foreign issues(3) 36.2 34.3 31.3
11 Government 36.2 34.3 31.3
12 Public .0 .0 .0
13 Savings bonds and
notes 181.2 180.3 179.4
14 Government account
series(4) 1,666.7 1,840.0 2,078.7
15 Non-interest-bearing 7.5 8.8 10.0
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 1,657.1 1,828.1 2,064.2
17 Federal Reserve Banks(6) 430.7 452.1 478.0
18 Private investors 3,414.6 3,334.0 3,233.9
19 Depository
institutions 300.3 237.3 246.5
20 Mutual funds 321.5 343.2 348.6
21 Insurance companies 176.6 144.5 125.3
22 State and local
treasuries(7) 239.3 269.3 266.8
Individuals
23 Savings bonds 186.5 186.6 186.4
24 Pension funds 360.5 375.3 378.9(r)
25 Private 143.5 157.6 167.7
26 State and Local 216.9 217.7 211.2(r)
27 Foreign and
internationals 1,241.6 1,278.7 1,268.7
28 Other miscellaneous
investors(7,9) 589.5 499.0 410.8
2000 2000
Type and holder Q2 Q3
1 Total gross public debt 5,662.2 5,685.9 5,674.2
By type
2 Interest-bearing 5,618.1 5,675.9 5,622.1
3 Marketable 2,966.9 3,070.7 2,992.8
4 Bills 646.9 629.9 616.2
5 Notes 1,557.3 1,679.1 1,611.3
6 Bonds 626.5 637.7 635.3
7 Inflation-indexed
notes and
bonds(1) 121.2 109.0 115.0
8 Nonmarketable(2) 2,651.2 2,605.2 2,629.3
9 State and local
government
series 151.0 160.4 153.3
10 Foreign issues(3) 27.2 27.7 25.4
11 Government 27.2 27.7 25.4
12 Public .0 .0 .0
13 Savings bonds and
notes 176.9 177.7 177.7
14 Government account
series(4) 2,266.1 2,209.4 2,242.9
15 Non-interest-bearing 44.2 10.1 52.1
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 2,270.2 2,193.6 2,226.5
17 Federal Reserve Banks(6) 511.7 504.9 511.4
18 Private investors 2,880.4 2,987.4 2,936.2
19 Depository
institutions 197.8 219.4 218.3
20 Mutual funds 339.0 322.8 324.3
21 Insurance companies 116.6 122.0 119.3
22 State and local
treasuries(7) 246.2 256.4 241.9
Individuals
23 Savings bonds 184.8 184.6 184.3
24 Pension funds 387.7(r) 384.1 383.1
25 Private 181.6 173.6 179.2
26 State and Local 206.1 210.5 203.9
27 Foreign and
internationals 1,201.4 1,248.8 1,225.2
28 Other miscellaneous
investors(7,9) 218.3 250.4 237.9
2000 2001
Q4 Q1
1 Total gross public debt 5,662.2 5,773.7
By type
2 Interest-bearing 5,618.1 5,752.0
3 Marketable 2,966.9 2,981.9
4 Bills 646.9 712.0
5 Notes 1,557.3 1,499.0
6 Bonds 626.5 627.9
7 Inflation-indexed
notes and
bonds(1) 121.2 128.0
8 Nonmarketable(2) 2,651.2 2,770.0
9 State and local
government
series 151.0 152.9
10 Foreign issues(3) 27.2 24.7
11 Government 27.2 24.7
12 Public .0 .0
13 Savings bonds and
notes 176.9 177.4
14 Government account
series(4) 2,266.1 2,360.3
15 Non-interest-bearing 44.2 46.5
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 2,270.2 2,357.0
17 Federal Reserve Banks(6) 511.7 523.9
18 Private investors 2,880.4 2,892.9
19 Depository
institutions 197.8 188.1
20 Mutual funds 339.0 348.2
21 Insurance companies 116.6 112.8
22 State and local
treasuries(7) 246.2 234.1
Individuals
23 Savings bonds 184.8 184.8
24 Pension funds 387.7(r) 384.9
25 Private 181.6 181.3
26 State and Local 206.1 203.6
27 Foreign and
internationals 1,201.4 1,196.2
28 Other miscellaneous
investors(7,9) 218.3 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.) U.S. Treasury securities bought outright by Federal Reserve
Banks, see Bulletin table 1.18.
(7.) 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.
(8.) 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.
(9.) Includes individuals, government-sponsored enterprises, brokers
and dealers, bank personal trusts and estates, corporate and
noncorporate businesses, and other investors.
SOURCES. Data by type of security, U.S. Treasury Department, Monthly
Statement of the Public Debt of the United States; data by holder,
Federal Reserve Board of Governors, Flow of Funds Accounts of the
United States and U.S. Treasury Department, Treasury Bulletin,
unless otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions(1)
Millions of dollars, daily averages
2001
Item Feb. Mar. Apr.
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 30,923 32,043 32,414
Coupon securities, by
maturity
2 Five years or less 177,374 170,530(r) 180,666(r)
3 More than five years 97,333(r) 87,263(r) 82,663(r)
4 Inflation-indexed 1,673 1,575 1,847(r)
Federal agency
5 Discount notes 66,280 62,429 61,242(r)
Coupon securities,
by maturity
6 One year or less 1,406(r) 998 1,188
7 More than one year,
but less than or
or equal to five
years 19,340 16,460 18,577
8 More than five
years 9,935 13,912 7,125(r)
9 Mortgage-backed 108,394 105,381 107,684
By type of counterparty
With interdealer broker
10 U.S. Treasury 164,014 151,017 152,513
11 Federal agency 14,732 15,012 12,924
12 Mortgage-backed 32,659 34,045 34,441
With other
13 U.S. Treasury 143,288 140,393 145,077
14 Federal agency 82,229 78,786 75,208
15 Mortgage-backed 75,735 71,337 73,244
FUTURES TRANSACTIONS(3)
By type of deliverable
security
16 U.S. Treasury bills 0 n.a. n.a.
Coupon securities,
by maturity
17 Five years or less 4,230 4,208 3,482
18 More than five years 17,291 16,989 17,079(r)
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 66 55 n.a.
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 971 1,167 1,022
27 More than five years 4,166 4,188 4,119
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 29 85 72
32 More than five years 119 133 118
33 Mortgage-backed 1,444 1,863 1,024
2001, week ending
Item Apr. 4 Apr. 11 Apr. 18
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 36,299 31,998 44,646
Coupon securities, by
maturity
2 Five years or less 175,696(r) 159,027(r) 190,179
3 More than five years 84,918(r) 85,881(r) 78,227
4 Inflation-indexed 1,794 1,676 1,770
Federal agency
5 Discount notes 57,355 56,842(r) 61,195
Coupon securities,
by maturity
6 One year or less 965 647 1,517
7 More than one year,
but less than or
or equal to five
years 12,047 17,969 18,396
8 More than five
years 8,079(r) 6,381(r) 5,274
9 Mortgage-backed 83,096 144,118 126,096
By type of counterparty
With interdealer broker
10 U.S. Treasury 153,316 142,672 160,861
11 Federal agency 11,034 11,672 11,608
12 Mortgage-backed 28,157 43,120 39,724
With other
13 U.S. Treasury 145,390 135,910 153,961
14 Federal agency 67,411 70,167 74,774
15 Mortgage-backed 54,940 100,998 86,373
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 3,488 3,919 3,766
18 More than five years 16,395 18,265 16,849
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 n.a. n.a. n.a.
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 1,739 502 1,908
27 More than five years 4,805 4,563 4,848
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 85 n.a. 63
32 More than five years 75 172 29
33 Mortgage-backed 802 1,251 1,753
2001, week ending
Item Apr. 25 May 2 May 9
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 27,625 20,894 17,560
Coupon securities, by
maturity
2 Five years or less 196,537 182,562 196,987
3 More than five years 82,033 82,012 94,801
4 Inflation-indexed 1,995 2,044 1,629
Federal agency
5 Discount notes 66,497 63,766 59,305
Coupon securities,
by maturity
6 One year or less 1,502 1,352 1,730
7 More than one year,
but less than or
or equal to five
years 23,674 17,867 15,792
8 More than five
years 8,070 8,307 6,490
9 Mortgage-backed 88,470 79,022 120,064
By type of counterparty
With interdealer broker
10 U.S. Treasury 156,341 150,604 159,235
11 Federal agency 15,939 13,632 12,476
12 Mortgage-backed 29,240 27,882 39,299
With other
13 U.S. Treasury 151,850 136,908 151,742
14 Federal agency 83,805 77,660 70,842
15 Mortgage-backed 59,231 51,140 80,765
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 3,007 3,161 4,387
18 More than five years 17,124 16,015 16,450
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 n.a. n.a. n.a.
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 598 696 1,366
27 More than five years 3,615 2,561 3,060
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. 70 130
32 More than five years n.a. 190 196
33 Mortgage-backed 404 932 2,435
2001, week ending
Item
May 16 May 23 May 30
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 20,596 20,583 34,425
Coupon securities, by
maturity
2 Five years or less 201,426 163,520 170,148
3 More than five years 94,370 80,939 74,755
4 Inflation-indexed 2,650 1,469 1,633
Federal agency
5 Discount notes 52,421 52,497 56,532
Coupon securities,
by maturity
6 One year or less 1,588 1,194 1,903
7 More than one year,
but less than or
or equal to five
years 18,626 17,249 14,387
8 More than five
years 8,903 13,506 7,244
9 Mortgage-backed 122,504 87,584 72,304
By type of counterparty
With interdealer broker
10 U.S. Treasury 165,885 140,001 144,299
11 Federal agency 12,561 12,696 10,856
12 Mortgage-backed 31,380 31,511 26,367
With other
13 U.S. Treasury 153,157 126,510 136,662
14 Federal agency 68,977 71,750 69,211
15 Mortgage-backed 91,124 56,073 45,937
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 5,762 4,177 7,214
18 More than five years 16,392 19,139 22,237
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 n.a. n.a. n.a.
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 1,140 728 1,285
27 More than five years 4,111 3,133 4,336
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 0 131 119
32 More than five years 131 n.a. 40
33 Mortgage-backed 1,520 1,192 863
(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
2001,
2001 week
ending
Item Feb. Mar. Apr. Apr. 4
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 9,779 20,272 30,544 44,155
Coupon securities, by
maturity
2 Five years or less -17,917 -14,721 -17,951 -14,819
3 More than five years -3,985 6,315 -7,938 -6,752
4 Inflation-indexed 3,907 4,146 4,196 4,188
Federal agency
5 Discount notes 32,994 36,096 49,374 42,037
Coupon securities, by
maturity
6 One year or less 18,229 16,162 15,777 16,519
7 More than one year,
but less than or
equal to five years 6,215 5,802 7,171 4,274
8 More than five years 5,480 8,578 8,699 9,240
9 Mortgage-backed 10,110 9,611 12,181 13,082
NET FUTURES POSITIONS(4)
By type of deliverable n.a. n.a. n.a. n.a.
security
10 U.S. Treasury bills
Coupon securities, by
maturity
11 Five years or less 2,344 -1,421 -1,673 -1,353
12 More than five years -11,744 -10,207 5,836 -8,406
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
or equal to five
years n.a. 0 0 0
17 More than five years -300 -341 -335 -385
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 year or less 604 295 -356 -612
21 More than five years -815 730 658 1,131
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 -578 355 302 519
26 More than five years 558 593 103 20
27 Mortgage-backed 2,002 2,485 1,368 2,220
Financing(5)
Reverse repurchase
agreements
28 Overnight and continuing 350,827 376,076 366,382 369,121
29 Term 845,692 881,202 925,786 841,773
Securities borrowed
30 Overnight and continuing 278,815 278,034 280,746 270,908
31 Term 120,113 123,908 125,608 123,493
Securities received as
pledge
32 Overnight and continuing 3,002 3,391 3,161 2,963
33 Term n.a. n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 803,148 836,852 869,117 861,690
35 Term 801,371 842,163 852,132 775,748
Securities loaned
36 Overnight and continuing 9,648 9,463 9,626 9,386
37 Term 4,194 4,429 4,411 n.a.
Securities pledged
38 Overnight and continuing 51,166 50,758 53,318 49,627
39 Term 5,029 5,938 6,529 6,174
Collateralized loans
40 Total 21,373 23,731 24,336 27,366
2001, week ending
Item Apr. 11 Apr. 18 Apr. 25 May 2
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 40,934 57,291 6,395 1,469
Coupon securities, by
maturity
2 Five years or less -16,003 -18,297 -16,403 -24,868
3 More than five years -7,782 -7,227 -8,356 -9,514
4 Inflation-indexed 4,377 4,508 3,827 4,026
Federal agency
5 Discount notes 49,299 54,292 50,340 47,111
Coupon securities, by
maturity
6 One year or less 16,307 15,823 14,955 15,529
7 More than one year,
but less than or
equal to five years 4,776 7,117 9,425 9,759
8 More than five years 9,926 8,534 7,669 8,222
9 Mortgage-backed 9,749 9,762 14,961 14,358
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 -1,646 -424 -3,011 -1,842
12 More than five years -6,516 -6,782 -4,296 -3,659
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
or equal to five
years 0 0 0 0
17 More than five years -380 -364 -293 -253
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 year or less -1,472 -719 490 735
21 More than five years 377 1,163 -50 956
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 216 236 252 411
26 More than five years 82 24 74 350
27 Mortgage-backed 823 1,121 2,061 823
Financing(5)
Reverse repurchase
agreements
28 Overnight and continuing 360,179 361,327 370,012 374,868
29 Term 902,139 919,879 977,571 961,871
Securities borrowed
30 Overnight and continuing 268,931 279,432 290,534 293,294
31 Term 128,356 124,767 124,015 126,859
Securities received as
pledge
32 Overnight and continuing 3,127 3,299 3,104 3,251
33 Term n.a. n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 864,697 867,654 890,133 853,874
35 Term 833,753 860,415 879,972 888,398
Securities loaned
36 Overnight and continuing 10,065 9,561 9,591 9,346
37 Term n.a. 4,469 4,431 4,303
Securities pledged
38 Overnight and continuing 53,160 52,868 53,962 56,220
39 Term 6,500 6,362 6,766 6,753
Collateralized loans
40 Total 22,520 24,447 25,177 23,123
2001, week ending
Item May 9 May 16 May 23
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 387 -1,152 -3,039
Coupon securities, by
maturity
2 Five years or less -10,566 -17,324 -20,578
3 More than five years -12,556 -13,569 -12,359
4 Inflation-indexed 3,420 3,907 5,444
Federal agency
5 Discount notes 47,215 51,112 51,121
Coupon securities, by
maturity
6 One year or less 14,666 12,933 13,294
7 More than one year,
but less than or
equal to five years 7,730 7,246 11,572
8 More than five years 7,161 5,873 6,562
9 Mortgage-backed 13,940 15,511 16,402
NET FUTURES POSITIONS(4)
By type of deliverable
security
10 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by
maturity
11 Five years or less -1,949 1,174 1,881
12 More than five years -6,652 -6,233 -5,458
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
or equal to five
years 0 0 0
17 More than five years -266 -372 -270
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 year or less 1,724 1,356 276
21 More than five years 1,429 2,000 3,246
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 565 459 328
26 More than five years 607 135 299
27 Mortgage-backed -41 1,135 1,543
Financing(5)
Reverse repurchase
agreements
28 Overnight and continuing 377,131 396,864 376,925
29 Term 1,018,020 865,077 946,881
Securities borrowed
30 Overnight and continuing 294,510 308,057 298,110
31 Term 128,300 115,417 118,057
Securities received as
pledge
32 Overnight and continuing 3,694 3,450 3,148
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 870,984 874,702 862,049
35 Term 934,216 802,259 869,971
Securities loaned
36 Overnight and continuing 9,681 10,371 9,665
37 Term 4,883 4,552 4,451
Securities pledged
38 Overnight and continuing 58,123 57,947 57,773
39 Term 6,685 7,753 7,809
Collateralized loans
40 Total 23,209 24,038 20,984
(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 1997 1998 1999
1 Federal and federally sponsored
agencies 1,022,609 1,296,477 1,616,492
2 Federal agencies 27,792 26,502 26,376
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) 552 n.a. n.a.
5 Federal Housing
Administration(4) 102 205 126
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 27,786 26,496 26,370
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 994,817 1,269,975 1,590,116
11 Federal Home Loan Banks 313,919 382,131 529,005
12 Federal Home Loan Mortgage
Corporation 169,200 287,396 360,711
13 Federal National Mortgage
Association 369,774 460,291 547,619
14 Farm Credit Banks(8) 63,517 63,488 68,883
15 Student Loan Marketing
Association(9) 37,717 35,399 41,988
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) 49,090 44,129 42,152
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) 552 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 13,530 9,500 6,665
26 Rural Electrification
Administration 14,898 14,091 14,085
27 Other 20,110 20,538 21,402
2000
Agency 2000 Nov. Dec.
1 Federal and federally sponsored
agencies 1,851,632 1,833,155 1,851,632
2 Federal agencies 25,666 25,555 25,666
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 255 239 255
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 25,660 25,549 25,660
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,825,966 1,807,600 1,825,966
11 Federal Home Loan Banks 594,404 580,957 594,404
12 Federal Home Loan Mortgage
Corporation 426,899 429,617 426,899
13 Federal National Mortgage
Association 642,700 633,100 642,700
14 Farm Credit Banks(8) 74,181 71,667 74,181
15 Student Loan Marketing
Association(9) 45,375 50,016 45,375
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) 40,575 40,170 40,575
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 5,275 5,320 5,275
26 Rural Electrification
Administration 13,126 13,023 13,126
27 Other 22,174 21,827 22,174
2001
Agency Jan. Feb. Mar.
1 Federal and federally sponsored
agencies n.a. 1,917,503 1,919,761
2 Federal agencies 25,426 25,141 25,063
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 275 291 307
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 25,420 25,135 25,057
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,873,199 1,892,362 1,894,698
11 Federal Home Loan Banks 604,904 598,586 602,824
12 Federal Home Loan Mortgage
Corporation 446,997 455,623 461,338
13 Federal National Mortgage
Association 654,200 668,200 666,600
14 Farm Credit Banks(8) 73,925 73,647 74,174
15 Student Loan Marketing
Association(9) 50,669 53,886 47,322
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) 39,348 38,924 39,341
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 5,155 5,155 5,155
26 Rural Electrification
Administration 13,197 13,281 13,371
27 Other 20,996 20,488 20,815
(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 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
2000
Type of issue or issuer,
or use 1998 1999 2000 Oct.
1 All issues, new and
refunding(1) 262,342 215,427 180,403 18,035
By type of issue
2 General obligation 87,015 73,308 64,475 5,871
3 Revenue 175,327 142,120 115,928 12,163
By type of issuer
4 State 23,506 16,376 19,944 3,005
5 Special district or statutory
authority(2) 178,421 152,418 111,695 11,224
6 Municipality, county, or
township 60,173 46,634 39,273 3,806
7 Issues for new capital 160,568 161,065 154,257 16,387
By use of proceeds
8 Education 36,904 36,563 38,665 3,492
9 Transportation 19,926 17,394 19,730 2,575
10 Utilities and conservation 21,037 15,098 11,917 1,272
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 8,594 9,099 7,122 730
13 Other purposes 42,450 47,896 47,309 6,558
2000 2001
Type of issue or issuer,
or use Nov. Dec. Jan. Feb.
1 All issues, new and
refunding(1) 18,079 15,348 11,255 19,829
By type of issue
2 General obligation 5,044 5,060 6,256 9,389
3 Revenue 13,036 10,288 4,999 10,441
By type of issuer
4 State 1,942 1,640 1,738 3,268
5 Special district or statutory
authority(2) 12,311 1,053 7,061 11,011
6 Municipality, county, or
township 3,827 3,165 2,456 5,550
7 Issues for new capital 14,520 13,286 8,758 13,384
By use of proceeds
8 Education 3,446 2,919 2,786 3,102
9 Transportation 2,124 1,381 780 2,411
10 Utilities and conservation 1,973 1,307 678 1,335
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 500 615 63 281
13 Other purposes 3,787 4,264 3,013 4,742
2001
Type of issue or issuer,
or use Mar. Apr. May
1 All issues, new and
refunding(1) 24,495 16,985 26,248
By type of issue
2 General obligation 7,668 6,890 8,385
3 Revenue 16,827 10,094 17,863
By type of issuer
4 State 1,893 1,900 3,123
5 Special district or statutory
authority(2) 17,280 113,344 17,281
6 Municipality, county, or
township 5,323 3,740 5,845
7 Issues for new capital 15,387 12,264 20,002
By use of proceeds
8 Education 5,343 3,731 5,714
9 Transportation 1,219 1,381 2,522
10 Utilities and conservation 1,677 1,447 2,969
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 396 436 422
13 Other purposes 4,368 3,010 4,736
(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
2000
Type of issue, offering,
or issuer 1998 1999 2000 Sept.
1 All issues(1) 1,128,491 1,072,866 942,198 94,492
2 Bonds(2) 1,001,736 941,298 807,281 88,102
By type of offering
3 Sold in the United States 923,771 818,683 684,484 73,516
4 Sold abroad 77,965 122,615 122,798 14,586
MEMO
5 Private placements,
domestic n.a. n.a. n.a. 376
By industry group
6 Nonfinancial 307,711 293,963 242,452 24,483
7 Financial 694,025 647,335 564,829 63,619
8 Stocks(3) 182,055 223,968 283,717 18,790
By type of offering
9 Public 126,755 131,568 134,917 6,390
10 Private placement(4) 55,300 92,400 148,800 12,400
By industry group
11 Nonfinancial 74,113 110,284 118,369 6,205
12 Financial 52,642 21,284 16,548 185
2000 2001
Type of issue, offering,
or issuer Oct. Nov. Dec. Jan.
1 All issues(1) 62,466 95,595 61,378 125,894
2 Bonds(2) 53,345 84,094 58,713 118,372
By type of offering
3 Sold in the United States 47,415 76,383 57,189 115,583
4 Sold abroad 5,930 7,712 1,525 2,789
MEMO
5 Private placements,
domestic 127 5,534 3,709 26
By industry group
6 Nonfinancial 12,547 25,784 18,219 44,443
7 Financial 40,799 58,310 40,495 73,928
8 Stocks(3) 21,521 23,901 15,065 7,522
By type of offering
9 Public 9,121 11,501 2,665 7,522
10 Private placement(4) 12,400 12,400 12,400 n.a.
By industry group
11 Nonfinancial 8,278 10,794 2,146 4,356
12 Financial 843 707 519 3,166
2001
Type of issue, offering,
or issuer Feb. Mar. Apr.
1 All issues(1) 96,206 139,267(r) 92,762
2 Bonds(2) 88,806 127,956 86,274
By type of offering
3 Sold in the United States 86,146 118,779 81,156
4 Sold abroad 2,660 9,177 5,117
MEMO
5 Private placements,
domestic 1,897 652 0
By industry group
6 Nonfinancial 34,604 44,385 33,549
7 Financial 54,201 83,571 52,725
8 Stocks(3) 7,400 11,311(r) 6,488
By type of offering
9 Public 7,400 11,311(r) 6,488
10 Private placement(4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,463 7,718 4,823
12 Financial 2,937 3,593(r) 1,665
(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 1999 2000 Oct. Nov.
1 Sales of own
shares(2) 1,791,894 2,279,315 169,071 143,412
2 Redemptions of own
shares 1,621,987 2,057,277 153,067 138,791
3 Net sales(3) 169,906 222,038 16,004 4,621
4 Assets(4) 5,233,191 5,123,747 5,442,937 4,993,008
5 Cash(5) 219,189 277,386 302,682 300,133
6 Other 5,014,002 4,846,361 5,140,255 4,692,875
2000 2001
Item Dec. Jan. Feb.
1 Sales of own
shares(2) 170,255 206,765 148,362
2 Redemptions of own
shares 160,918 171,819 141,663
3 Net sales(3) 9,337 34,946 6,699
4 Assets(4) 5,123,747 5,280,222 4,879,229
5 Cash(5) 277,386 280,472 274,077
6 Other 4,846,361 4,999,750 4,605,152
2001
Item Mar. Apr.(r) May
1 Sales of own
shares(2) 162,548 152,327 159,517
2 Redemptions of own
shares 175,633 130,454 134,634
3 Net sales(3) -13,085 21,873 24,883
4 Assets(4) 4,594,182 4,910,568 4,956,556
5 Cash(5) 241,518 247,169 236,053
6 Other 4,352,664 4,663,399 4,720,503
(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
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
1999
Account 1998 1999 2000 Q2
1 Profits with inventory
valuation and capital
consumption adjustment 815.0 856.0 946.2 836.8
2 Profits before taxes 758.2 823.0 925.6 804.5
3 Profits-tax liability 244.6 255.9 284.2 250.8
4 Profits after taxes 513.6 567.1 641.4 553.7
5 Dividends 351.5 370.7 397.0 367.2
6 Undistributed profits 162.1 196.4 244.4 186.5
7 Inventory valuation 17.0 -9.1 -12.9 -8.9
8 Capital consumption
adjustment 39.9 42.1 33.5 41.2
1999 2000
Account Q3 Q4 Q1 Q2
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
2000 2001
Account Q3 Q4 Q1(r)
1 Profits with inventory
valuation and capital
consumption adjustment 970.3 914.7 869.0
2 Profits before taxes 945.1 894.1 841.8
3 Profits-tax liability 290.6 267.7 254.4
4 Profits after taxes 654.4 626.4 587.4
5 Dividends 400.1 407.6 414.7
6 Undistributed profits 254.4 218.8 172.8
7 Inventory valuation -4.5 -8.5 -3.5
8 Capital consumption
adjustment 29.7 29.1 30.7
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 1998 1999 2000 Q3
ASSETS
1 Accounts receivable,
gross(2) 711.7 811.5 915.6 776.3
2 Consumer 261.8 279.8 296.1 271.0
3 Business 347.5 405.2 471.1 383.0
4 Real estate 102.3 126.5 148.3 122.3
5 LESS: Reserves for unearned
income 56.3 53.5 60.0 54.0
6 Reserves for losses 13.8 13.5 15.1 13.6
7 Accounts receivable, net 641.6 744.6 840.5 708.6
8 All other 337.9 406.3 461.8 368.5
9 Total assets 979.5 1,150.9 1,302.4 1,077.2
LIABILITIES AND CAPITAL
10 Bank loans 26.3 35.1 35.6 27.0
11 Commercial paper 231.5 227.9 235.2 205.3
Debt
12 Owed to parent 61.8 123.8 146.5 84.5
13 Not elsewhere classified 339.7 397.0 463.8 396.2
14 All other liabilities 203.2 222.7 279.7 216.0
15 Capital, surplus, and
undivided profits 117.0 144.5 141.6 148.2
16 Total liabilities and
capital 979.5 1,150.9 1,302.4 1,077.2
1999 2000
Account Q4 Q1 Q2
ASSETS
1 Accounts receivable,
gross(2) 811.5 848.7 884.4
2 Consumer 279.8 285.4 294.1
3 Business 405.2 434.6 454.1
4 Real estate 126.5 128.8 136.2
5 LESS: Reserves for unearned
income 53.5 54.0 57.1
6 Reserves for losses 13.5 14.0 14.4
7 Accounts receivable, net 744.6 780.7 813.0
8 All other 406.3 412.7 418.3
9 Total assets 1,150.9 1,193.4 1,231.3
LIABILITIES AND CAPITAL
10 Bank loans 35.1 28.5 32.5
11 Commercial paper 227.9 230.2 221.3
Debt
12 Owed to parent 123.8 145.1 137.1
13 Not elsewhere classified 397.0 412.0 445.4
14 All other liabilities 222.7 247.6 259.3
15 Capital, surplus, and
undivided profits 144.5 130.1 135.6
16 Total liabilities and
capital 1,150.9 1,193.4 1,231.3
2000 2001
Account Q3 Q4 Q1
ASSETS
1 Accounts receivable,
gross(2) 900.1 915.6 916.6
2 Consumer 301.9 296.1 292.9
3 Business 455.7 471.1 472.1
4 Real estate 142.4 148.3 151.6
5 LESS: Reserves for unearned
income 58.8 60.0 60.3
6 Reserves for losses 14.2 15.1 15.6
7 Accounts receivable, net 827.1 840.5 840.7
8 All other 441.4 461.8 474.8
9 Total assets 1,268.4 1,302.4 1,315.5
LIABILITIES AND CAPITAL
10 Bank loans 35.4 35.6 41.2
11 Commercial paper 215.6 235.2 178.3
Debt
12 Owed to parent 144.3 146.5 138.5
13 Not elsewhere classified 465.5 463.8 501.9
14 All other liabilities 269.2 279.7 299.7
15 Capital, surplus, and
undivided profits 138.3 141.6 151.0
16 Total liabilities and
capital 1,268.4 1,302.4 1,310.6
(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 1998 1999 2000 Nov. Dec.
Seasonally adjusted
1 Total 875.8 993.9 1,145.2 1,136.2 1,145.2
2 Consumer 352.8 385.3 439.3 439.8 439.3
3 Real estate 131.4 154.7 174.9 176.6 174.9
4 Business 391.6 453.9 531.0 519.7 531.0
Not seasonally adjusted
5 Total 884.0 1,003.2 1,156.0 1,137.9 1,156.0
6 Consumer 356.1 388.8 443.4 441.4 443.4
7 Motor vehicles
loans 103.1 114.7 122.5 127.8 122.5
8 Motor vehicle
leases 93.3 98.3 102.9 104.0 102.9
9 Revolving(2) 32.3 33.8 38.3 38.0 38.3
10 Other(3) 33.1 33.1 32.4 32.0 32.4
Securitized
assets(4)
11 Motor vehicle
loans 54.8 71.1 97.1 91.5 97.1
12 Motor vehicle
leases 12.7 9.7 6.6 6.8 6.6
13 Revolving 8.7 10.5 27.5 25.8 27.5
14 Other 18.1 17.7 16.0 15.5 16.0
15 Real estate 131.4 154.7 174.9 176.6 174.9
16 One- to four-
family 75.7 88.3 105.4 107.0 105.4
17 Other 26.6 38.3 42.9 42.7 42.9
Securitized real
estate
assets(4)
18 One- to
four-
family 29.0 28.0 24.7 25.0 24.7
19 Other .1 .2 1.9 1.9 1.9
20 Business 396.5 459.6 537.7 519.9 537.7
21 Motor vehicles 79.6 87.8 95.2 93.3 95.2
22 Retail loans 28.1 33.2 31.0 32.3 31.0
23 Wholesale
loans(5) 32.8 34.7 39.6 37.3 39.6
24 Leases 18.7 19.9 24.6 23.8 24.6
25 Equipment 198.0 221.9 267.3 259.3 267.3
26 Loans 50.4 52.2 56.2 54.7 56.2
27 Leases 147.6 169.7 211.1 204.6 211.1
28 Other business
receiv-
ables(6) 69.9 95.5 108.6 103.2 108.6
Securitized
assets(4)
29 Motor vehicles 29.2 31.5 37.8 37.0 37.8
30 Retail loans 2.6 2.9 3.2 3.1 3.2
31 Wholesale
loans 24.7 26.4 32.5 31.5 32.5
32 Leases 1.9 2.1 2.2 2.4 2.2
33 Equipment 13.0 14.6 23.1 21.3 23.1
34 Loans 6.6 7.9 15.5 14.6 15.5
35 Leases 6.4 6.7 7.6 6.7 7.6
36 Other business
receiv-
ables(6) 6.8 8.4 5.6 5.8 5.6
2001
Type of credit Jan. Feb. Mar.(r) Apr.
Seasonally adjusted
1 Total 1,156.7 1,159.7 1,158.6 1,171.5
2 Consumer 443.8 447.1 449.8 456.3
3 Real estate 177.7 179.0 177.7 182.5
4 Business 535.2 533.6 531.1 532.6
Not seasonally adjusted
5 Total 1,156.7 1,159.7 1,163.1 1,173.7
6 Consumer 443.9 445.1 445.7 451.0
7 Motor vehicles
loans 117.5 118.5 118.9 127.0
8 Motor vehicle
leases 103.3 102.4 101.3 101.9
9 Revolving(2) 37.1 36.9 35.6 36.0
10 Other(3) 32.4 32.0 31.3 28.2
Securitized
assets(4)
11 Motor vehicle
loans 103.9 105.2 108.1 106.1
12 Motor vehicle
leases 6.3 6.9 6.6 7.0
13 Revolving 27.6 27.6 27.6 28.8
14 Other 15.8 15.5 16.2 16.0
15 Real estate 177.7 179.0 177.7 182.5
16 One- to four-
family 108.2 109.5 108.1 112.3
17 Other 43.2 43.4 43.8 43.8
Securitized real
estate
assets(4)
18 One- to
four-
family 24.4 24.2 23.9 23.8
19 Other 1.9 1.9 1.9 2.6
20 Business 535.1 535.6 539.7 540.2
21 Motor vehicles 93.6 93.6 91.9 91.0
22 Retail loans 30.8 30.7 30.5 29.9
23 Wholesale
loans(5) 38.2 37.6 35.8 35.3
24 Leases 24.6 25.3 25.6 25.8
25 Equipment 265.6 262.5 264.6 267.5
26 Loans 56.3 55.6 57.1 57.1
27 Leases 209.3 206.9 207.5 210.4
28 Other business
receiv-
ables(6) 110.4 114.5 115.2 113.5
Securitized
assets(4)
29 Motor vehicles 37.3 37.2 40.0 40.3
30 Retail loans 3.1 2.9 2.8 3.1
31 Wholesale
loans 32.1 31.7 34.5 34.6
32 Leases 2.2 2.6 2.6 2.6
33 Equipment 22.5 22.2 22.5 22.2
34 Loans 14.7 14.5 14.6 14.4
35 Leases 7.8 7.8 7.9 7.8
36 Other business
receiv-
ables(6) 5.6 5.6 5.6 5.7
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
1998 1999 2000 2000
Item Nov.
Terms and yields in
primary and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 195.2 210.7 234.5 247.2
2 Amount of loan (thousands
of dollars) 151.1 161.7 177.0 184.2
3 Loan-to-price ratio
(percent) 80.0 78.7 77.4 76.2
4 Maturity (years) 28.4 28.8 29.2 29.2
5 Fees and charges (percent of
loan amount)(2) .89 .77 .70 .69
Yield (percent per year)
6 Contract rate(1) 6.95 6.94 7.41 7.36
7 Effective rate(1,3) 7.08 7.06 7.52 7.47
8 Contract rate (HUD
series)(4) 7.00 7.45 n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203)(5) 7.04 7.74 n.a. n.a.
10 GNMA securities(6) 6.43 7.03 7.57 7.22
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 414,515 523,941 610,122 598,951
12 FHA/VA insured 33,770 55,318 61,539 60,694
13 Conventional 380,745 468,623 548,583 538,257
14 Mortgage transactions
purchased (during
period) 188,448 195,210 154,231 17,322
Mortgage commitments
(during period)
15 Issued(7) 193,795 187,948 163,689 15,287
16 To sell(8) 1,880 5,900 11,786 676
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end
of period)(8)
17 Total 255,010 324,443 385,693 372,819
18 FHA/VA insured 785 1,836 3,332 3,321
19 Conventional 254,225 322,607 382,361 369,498
Mortgage transactions
(during period)
20 Purchases 267,402 239,793 174,043 19,402
21 Sales 250,565 233,031 166,901 18,823
22 Mortgage commitments
contracted (during
period)(9) 281,899 228,432 169,231 20,012
2000 2001
Item Dec. Jan. Feb. Mar.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 250.0 238.7 245.0 244.5
2 Amount of loan (thousands
of dollars) 187.3 181.6 185.4 182.9
3 Loan-to-price ratio
(percent) 76.5 78.2 77.9 77.2
4 Maturity (years) 29.1 29.4 29.0 28.8
5 Fees and charges (percent of
loan amount)(2) .73 .71 .70 .66
Yield (percent per year)
6 Contract rate(1) 7.29 7.09 6.99 6.94
7 Effective rate(1,3) 7.40 7.20 7.10 7.04
8 Contract rate (HUD
series)(4) n.a. n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203)(5) n.a. n.a. n.a. n.a.
10 GNMA securities(6) 6.83 6.57 6.61 6.41
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 610,122 623,950 632,850 n.a.
12 FHA/VA insured 61,539 62,970 63,337 n.a.
13 Conventional 548,583 560,980 569,513 n.a.
14 Mortgage transactions
purchased (during
period) 17,193 20,598 17,230 20,899
Mortgage commitments
(during period)
15 Issued(7) 20,120 27,325 25,471 n.a.
16 To sell(8) 1,436 766 835 n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end
of period)(8)
17 Total 385,693 391,679 407,086 421,655
18 FHA/VA insured 3,332 3,307 3,319 3,329
19 Conventional 382,361 388,372 403,767 418,326
Mortgage transactions
(during period)
20 Purchases 24,313 15,658 16,536 24,648
21 Sales 22,277 15,364 15,549 23,367
22 Mortgage commitments
contracted (during
period)(9) 21,780 18,685 17,664 26,682
2001
Item Apr. May
Terms and yields
in primary and
secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 240.8 241.4
2 Amount of loan (thousands
of dollars) 181.5 181.4
3 Loan-to-price ratio
(percent) 77.6 77.6
4 Maturity (years) 28.5 28.6
5 Fees and charges (percent of
loan amount)(2) .71 .69
Yield (percent per year)
6 Contract rate(1) 6.96 7.02
7 Effective rate(1,3) 7.07 7.12
8 Contract rate (HUD
series)(4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203)(5) n.a. n.a.
10 GNMA securities(6) 6.53 6.61
Activity in
secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total n.a. n.a.
12 FHA/VA insured n.a. n.a.
13 Conventional n.a. n.a.
14 Mortgage transactions
purchased (during
period) 24,015 16,825
Mortgage commitments
(during period)
15 Issued(7) n.a. n.a.
16 To sell(8) n.a. n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end
of period)(8)
17 Total 430,960 437,582
18 FHA/VA insured 2,878 2,785
19 Conventional 428,082 434,797
Mortgage transactions
(during period)
20 Purchases n.a. n.a.
21 Sales 31,219 33,670
22 Mortgage commitments
contracted (during
period)(9) 32,758 39,897
(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 the Federal National
Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING(1)
Millions of dollars, end of period
Type of holder and property 1996(r) 1997(r) 1998(r)
1 All holders 5,198,237 5,698,389 6,326,415
By type of property
2 One- to four-family
residences 3,968,218 4,348,553 4,773,876
3 Multifamily residences 302,642 330,718 372,619
4 Nonfarm, nonresidential 837,077 922,612 1,076,958
5 Farm 90,300 96,506 102,962
By type of holder
6 Major financial institutions 2,084,000 2,195,869 2,396,265
7 Commercial banks(2) 1,245,334 1,338,273 1,496,844
8 One- to four-family 745,777 798,009 880,208
9 Multifamily 50,705 54,174 67,666
10 Nonfarm, nonresidential 421,865 457,054 517,130
11 Farm 26,987 29,035 31,839
12 Savings institutions(3) 631,826 643,957 668,634
13 One- to four-family 520,782 533,895 549,046
14 Multifamily 59,540 56,847 59,168
15 Nonfarm, nonresidential 51,150 52,798 59,945
16 Farm 354 417 475
17 Life insurance companies 206,840 213,640 230,787
18 One- to four-family 7,187 6,590 5,934
19 Multifamily 30,402 31,522 32,818
20 Nonfarm, nonresidential 158,779 164,004 179,048
21 Farm 10,472 11,524 12,987
22 Federal and related agencies 286,194 293,602 322,132
23 Government National
Mortgage Association 8 7 7
24 One- to four-family 8 7 7
25 Multifamily 0 0 0
26 Farmers Home
Administration(4) 41,195 40,851 73,871
27 One- to four-family 17,253 16,895 16,506
28 Multifamily 11,720 11,739 11,741
29 Nonfarm, nonresidential 7,370 7,705 41,355
30 Farm 4,852 4,513 4,268
31 Federal Housing and Vete-
rans' Administrations 3,811 3,674 3,712
32 One- to four-family 1,767 1,849 1,851
33 Multifamily 2,044 1,825 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 724 361 152
40 One- to four-family 117 58 25
41 Multifamily 140 70 29
42 Nonfarm, nonresidential 467 233 98
43 Farm 0 0 0
44 Federal National Mortgage
Association 161,308 157,675 151,500
45 One- to four-family 149,831 147,594 141,195
46 Multifamily 11,477 10,081 10,305
47 Federal Land Banks 30,657 32,983 34,187
48 One- to four-family 1,804 1,941 2,012
49 Farm 0 0 0
50 Federal Home Loan Mortgage
Corporation 48,454 57,085 56,676
51 One- to four-family 42,629 49,106 44,321
52 Multifamily 5,825 7,979 12,355
53 Mortgage pools or trusts(5) 2,232,848 2,581,969 2,947,760
54 Government National
Mortgage Association 536,879 537,446 582,263
55 One- to four-family 523,225 522,498 565,189
56 Multifamily 13,654 14,948 17,074
57 Federal Home Loan Mortgage
Corporation 579,385 646,459 749,081
58 One- to four-family 576,846 643,465 744,619
59 Multifamily 2,539 2,994 4,462
60 Federal National Mortgage
Association 709,582 834,517 960,883
61 One- to four-family 687,981 804,204 924,941
62 Multifamily 21,601 30,313 35,942
63 Farmers Home
Administration(4) 2 1 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 2 1 0
68 Private mortgage conduits 407,000 563,546 655,533
69 One- to four-family(6) 310,659 405,153 455,021
70 Multifamily 20,907 33,754 42,226
71 Nonfarm, nonresidential 75,434 124,639 158,287
72 Farm 0 0 0
73 Individuals and others(7) 595,195 626,949 660,258
74 One- to four-family 382,315 416,335 441,205
75 Multifamily 72,088 74,462 76,740
76 Nonfarm, nonresidential 122,013 116,178 121,095
77 Farm 18,779 19,974 21,217
2000
Type of holder and property Q1 Q2 Q3
1 All holders 6,426,515 6,592,329 6,744,667
By type of property
2 One- to four-family
residences 4,832,886 4,962,031 5,087,538
3 Multifamily residences 387,188 390,753 399,232
4 Nonfarm, nonresidential 1,102,565 1,133,107 1,149,940
5 Farm 103,875 106,437 107,957
By type of holder
6 Major financial institutions 2,458,194 2,550,201 2,606,592
7 Commercial banks(2) 1,548,224 1,615,794 1,650,294
8 One- to four-family 905,270 949,223 968,831
9 Multifamily 72,509 75,795 77,031
10 Nonfarm, nonresidential 537,772 557,059 570,513
11 Farm 32,673 33,717 33,919
12 Savings institutions(3) 680,745 701,992 721,563
13 One- to four-family 560,018 578,612 595,518
14 Multifamily 57,790 59,174 60,077
15 Nonfarm, nonresidential 62,444 63,688 65,437
16 Farm 493 518 531
17 Life insurance companies 229,225 232,415 234,735
18 One- to four-family 5,567 5,237 4,907
19 Multifamily 32,634 33,121 33,478
20 Nonfarm, nonresidential 178,043 180,701 182,646
21 Farm 12,981 13,356 13,704
22 Federal and related agencies 322,917 332,642 336,682
23 Government National
Mortgage Association 7 7 6
24 One- to four-family 7 7 6
25 Multifamily 0 0 0
26 Farmers Home
Administration(4) 72,899 72,896 73,009
27 One- to four-family 16,456 16,435 16,444
28 Multifamily 11,732 11,729 11,734
29 Nonfarm, nonresidential 40,509 40,554 40,665
30 Farm 4,202 4,179 4,167
31 Federal Housing and Vete-
rans' Administrations 3,794 3,845 3,395
32 One- to four-family 1,847 1,832 1,327
33 Multifamily 1,947 2,013 2,068
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 98 72 82
40 One- to four-family 16 12 13
41 Multifamily 19 14 16
42 Nonfarm, nonresidential 63 46 53
43 Farm 0 0 0
44 Federal National Mortgage
Association 150,312 153,507 152,815
45 One- to four-family 139,986 142,478 141,786
46 Multifamily 10,326 11,029 11,029
47 Federal Land Banks 34,142 34,830 35,549
48 One- to four-family 2,009 2,049 2,092
49 Farm 0 0 0
50 Federal Home Loan Mortgage
Corporation 57,009 56,972 57,046
51 One- to four-family 43,384 42,892 42,138
52 Multifamily 13,625 14,080 14,908
53 Mortgage pools or trusts(5) 2,983,365 3,034,691 3,115,138
54 Government National
Mortgage Association 589,192 590,708 602,628
55 One- to four-family 571,506 572,661 584,152
56 Multifamily 17,686 18,047 18,476
57 Federal Home Loan Mortgage
Corporation 757,106 768,641 790,891
58 One- to four-family 752,607 763,890 786,007
59 Multifamily 4,499 4,751 4,884
60 Federal National Mortgage
Association 975,815 995,815 1,020,828
61 One- to four-family 932,178 957,584 981,206
62 Multifamily 43,637 38,231 39,622
63 Farmers Home
Administration(4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 661,252 679,527 700,792(r)
69 One- to four-family(6) 455,623 464,593 477,899
70 Multifamily 43,069 44,290 45,991
71 Nonfarm, nonresidential 162,560 170,644 176,901
72 Farm 0 0 0
73 Individuals and others(7) 662,039 674,794 686,254
74 One- to four-family 442,006 454,314 470,762
75 Multifamily 77,466 78,179 79,587
76 Nonfarm, nonresidential 121,174 120,415 113,725
77 Farm 21,393 21,886 22,179
2000 2001
Type of holder and property Q4 Q1
1 All holders 6,889,962 7,016,475
By type of property
2 One- to four-family
residences 5,193,000 5,284,886
3 Multifamily residences 409,216 418,762
4 Nonfarm, nonresidential 1,178,909 1,202,752
5 Farm 108,836 110,075
By type of holder
6 Major financial institutions 2,621,076 2,667,125
7 Commercial banks(2) 1,661,600 1,688,869
8 One- to four-family 966,609 978,227
9 Multifamily 77,821 79,890
10 Nonfarm, nonresidential 583,153 596,518
11 Farm 34,016 34,234
12 Savings institutions(3) 723,534 741,114
13 One- to four-family 595,053 608,289
14 Multifamily 61,094 62,666
15 Nonfarm, nonresidential 66,852 69,589
16 Farm 535 569
17 Life insurance companies 235,942 237,142
18 One- to four-family 4,904 4,800
19 Multifamily 33,681 33,867
20 Nonfarm, nonresidential 183,757 184,774
21 Farm 13,600 13,701
22 Federal and related agencies 343,962 346,276
23 Government National
Mortgage Association 6 6
24 One- to four-family 6 6
25 Multifamily 0 0
26 Farmers Home
Administration(4) 73,323 73,361
27 One- to four-family 16,372 16,297
28 Multifamily 11,733 11,725
29 Nonfarm, nonresidential 41,070 41,247
30 Farm 4,148 4,093
31 Federal Housing and Vete-
rans' Administrations 3,507 2,873
32 One- to four-family 1,308 1,276
33 Multifamily 2,199 1,597
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 45 50
40 One- to four-family 7 8
41 Multifamily 9 10
42 Nonfarm, nonresidential 29 32
43 Farm 0 0
44 Federal National Mortgage
Association 155,363 156,294
45 One- to four-family 144,150 145,014
46 Multifamily 11,213 11,280
47 Federal Land Banks 36,326 37,072
48 One- to four-family 2,137 2,181
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 59,240 60,110
51 One- to four-family 42,871 42,771
52 Multifamily 16,369 17,339
53 Mortgage pools or trusts(5) 3,231,195 3,305,311
54 Government National
Mortgage Association 611,629 601,540
55 One- to four-family 592,700 581,760
56 Multifamily 18,929 19,780
57 Federal Home Loan Mortgage
Corporation 822,310 833,616
58 One- to four-family 816,602 827,769
59 Multifamily 5,708 5,847
60 Federal National Mortgage
Association 1,057,750 1,099,049
61 One- to four-family 1,016,398 1,055,412
62 Multifamily 41,352 43,637
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 739,506 771,106
69 One- to four-family(6) 499,834 523,300
70 Multifamily 49,322 50,639
71 Nonfarm, nonresidential 190,350 197,167
72 Farm 0 0
73 Individuals and others(7) 693,729 697,763
74 One- to four-family 478,118 481,485
75 Multifamily 79,566 80,268
76 Nonfarm, nonresidential 113,697 113,424
77 Farm 22,348 22,586
(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 1998 1999 2000(r)
Seasonally adjusted
1 Total 1,301,023 1,393,657 1,531,469
2 Revolving 560,504 595,610 663,830
3 Nonrevolving(2) 740,519 798,047 867,639
Not seasonally adjusted
4 Total 1,331,742 1,426,151 1,566,457
By major holder
5 Commercial banks 508,932 499,758 541,470
6 Finance companies 168,491 181,573 193,189
7 Credit unions 155,406 167,921 184,434
8 Savings institutions 51,611 61,527 64,557
9 Nonfinancial business 74,877 80,311 82,662
10 Pools of securitized
assets(3) 372,425 435,061 500,145
By major type of credit(4)
11 Revolving 586,528 623,245 693,645
12 Commercial banks 210,346 189,352 218,063
13 Finance companies 32,309 33,814 38,251
14 Credit unions 19,930 20,641 22,226
15 Savings institutions 12,450 15,838 16,560
16 Nonfinancial business 39,166 42,783 42,430
17 Pools of securitized
assets(3) 272,327 320,817 356,114
18 Nonrevolving 745,214 802,906 872,812
19 Commercial banks 298,586 310,406 323,407
20 Finance companies 136,182 147,759 154,938
21 Credit unions 135,476 147,280 162,208
22 Savings institutions 39,161 45,689 47,997
23 Nonfinancial business 35,711 37,528 40,232
24 Pools of securitized
assets(3) 100,098 114,244 144,031
2000 2001
Holder and type of credit Nov. Dec.(r) Jan.(r)
Seasonally adjusted
1 Total 1,525,073(r) 1,531,469 1,548,486
2 Revolving 660,992(r) 663,830 669,780
3 Nonrevolving(2) 864,081(r) 867,639 878,706
Not seasonally adjusted
4 Total 1,532,836(r) 1,566,457 1,560,357
By major holder
5 Commercial banks 529,911(r) 541,470 539,796
6 Finance companies 197,759 193,189 187,029
7 Credit unions 183,772 184,434 184,120
8 Savings institutions 63,879(r) 64,557 64,667
9 Nonfinancial business 73,786 82,662 77,685
10 Pools of securitized
assets(3) 483,729 500,145 507,060
By major type of credit(4)
11 Revolving 664,463(r) 693,645 681,812
12 Commercial banks 206,121 218,063 211,006
13 Finance companies 37,956 38,251 37,098
14 Credit unions 21,656 22,226 21,714
15 Savings institutions 16,482(r) 16,560 16,701
16 Nonfinancial business 36,430 42,430 38,934
17 Pools of securitized
assets(3) 345,817 356,114 356,359
18 Nonrevolving 868,373(r) 872,812 878,545
19 Commercial banks 323,789(r) 323,407 328,790
20 Finance companies 159,803 154,938 149,931
21 Credit unions 162,116 162,208 162,406
22 Savings institutions 47,397(r) 47,997 47,966
23 Nonfinancial business 37,356 40,232 38,750
24 Pools of securitized
assets(3) 137,912 144,031 150,701
2001
Holder and type of credit Feb.(r) Mar.(r) Apr.
Seasonally adjusted
1 Total 1,562,937 1,570,368 1,584,329
2 Revolving 681,384 688,166 697,360
3 Nonrevolving(2) 881,553 882,203 886,970
Not seasonally adjusted
4 Total 1,558,086 1,557,971 1,570,179
By major holder
5 Commercial banks 535,137 534,545 540,781
6 Finance companies 187,493 185,874 191,161
7 Credit unions 183,548 182,918 184,248
8 Savings institutions 64,777 64,887 64,950
9 Nonfinancial business 73,020 71,757 71,510
10 Pools of securitized
assets(3) 514,111 517,990 517,529
By major type of credit(4)
11 Revolving 682,143 681,139 690,146
12 Commercial banks 208,192 208,924 215,185
13 Finance companies 36,938 35,626 36,044
14 Credit unions 21,415 20,902 21,103
15 Savings institutions 16,842 16,983 16,975
16 Nonfinancial business 35,290 34,150 33,815
17 Pools of securitized
assets(3) 363,466 364,554 367,024
18 Nonrevolving 875,943 876,832 880,033
19 Commercial banks 326,945 325,621 325,597
20 Finance companies 150,555 150,249 155,117
21 Credit unions 162,133 162,016 163,145
22 Savings institutions 47,935 47,904 47,975
23 Nonfinancial business 37,729 37,607 37,694
24 Pools of securitized
assets(3) 150,645 153,436 150,506
(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
2000
Item 1998 1999 2000 Oct. Nov.
INTEREST RATES
Commercial banks(2)
1 48-month new car 8.72 8.44 9.34 n.a. 9.63
2 24-month personal 13.74 13.39 13.90 n.a. 14.12
Credit card plan
3 All accounts 15.71 15.21 15.71 n.a. 15.99
4 Accounts assessed
interest 15.59 14.81 14.91 n.a. 15.23
Auto finance companies
5 New car 6.30 6.66 6.61 4.74 5.41
6 Used car 12.64 12.60 13.55 13.87 13.66
OTHER TERMS(3)
Maturity (months)
7 New car 52.1 52.7 54.9 57.6 57.3
8 Used car 53.5 55.9 57.0 57.0 56.8
Loan-to-value ratio
9 New car 92 92 92 93 93
10 Used car 99 99 99 100 100
Amount financed
(dollars)
11 New car 19,083 19,880 20,923 22,069 22,443
12 Used car 12,691 13,642 14,058 13,978 14,325
2000 2001
Item Dec. Jan. Feb. Mar. Apr.
INTEREST RATES
Commercial banks(2)
1 48-month new car n.a. n.a. 9.17 n.a. n.a.
2 24-month personal n.a. n.a. 13.71 n.a. n.a.
Credit card plan
3 All accounts n.a. n.a. 15.66 n.a. n.a.
4 Accounts assessed
interest n.a. n.a. 14.61 n.a. n.a.
Auto finance companies
5 New car 7.45 7.29 7.19 6.80 6.80
6 Used car 13.58 13.11 13.34 13.19 12.82
OTHER TERMS(3)
Maturity (months)
7 New car 55.2 54.3 55.5 55.6 56.3
8 Used car 56.6 57.8 58.0 58.0 57.9
Loan-to-value ratio
9 New car 91 90 91 91 91
10 Used car 100 98 99 100 100
Amount financed
(dollars)
11 New car 21,867 21,315 21,993 22,131 21,914
12 Used car 14,591 14,155 14,095 14,214 14,347
(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 1995 1996 1997 1998
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 711.1 731.3 804.6 1,011.4
By sector and instrument
2 Federal government 144.4 145.0 23.1 -52.6
3 Treasury securities 142.9 146.6 23.2 -54.6
4 Budget agency securities
and mortgages 1.5 -1.6 -.1 2.0
5 Nonfederal 566.7 586.3 781.5 1,064.0
By instrument
6 Commercial paper 18.1 -.9 13.7 24.4
7 Municipal securities
and loans -48.2 2.6 71.4 96.8
8 Corporate bonds 91.1 116.3 150.5 218.7
9 Bank loans n.e.c. 103.7 70.5 106.5 108.2
10 Other loans and advances 67.2 33.5 69.1 74.3
11 Mortgages 195.8 275.7 317.7 474.0
12 Home 181.0 242.1 252.3 379.7
13 Multifamily residential 6.1 9.0 8.2 19.9
14 Commercial 7.1 22.0 54.1 68.2
15 Farm 1.6 2.6 3.2 6.2
16 Consumer credit 138.9 88.8 52.5 67.6
By borrowing sector
17 Household 363.5 357.8 337.1 472.1
18 Nonfinancial business 254.7 235.3 388.2 511.7
19 Corporate 227.5 149.1 266.5 392.0
20 Nonfarm noncorporate 24.3 81.4 115.6 112.0
21 Farm 2.9 4.8 6.2 7.7
22 State and local government -15.5 -6.8 56.1 80.3
23 Foreign net borrowing in
United States 78.5 88.4 71.8 43.3
24 Commercial paper 13.5 11.3 3.7 7.8
25 Bonds 57.1 67.0 61.4 34.8
26 Bank loans n.e.c. 8.5 9.1 8.5 6.7
27 Other loans and advances -.5 1.0 -1.8 -6.0
28 Total domestic plus foreign 789.6 819.7 876.3 1,054.7
Financial sectors
29 Total net borrowing by
financial sectors 454.0 545.7 653.8 1,073.9
By instrument
30 Federal government-related 204.2 231.4 212.9 470.9
31 Government-sponsored
enterprise securities 105.9 90.4 98.4 278.3
32 Mortgage pool securities 98.3 141.0 114.6 192.6
33 Loans from U.S. government .0 .0 .0 .0
34 Private 249.8 314.4 440.9 603.0
35 Open market paper 42.7 92.2 166.7 161.0
36 Corporate bonds 195.9 173.8 210.5 296.9
37 Bank loans n.e.c. 2.5 12.6 13.2 30.1
38 Other loans and advances 3.4 27.9 35.6 90.2
39 Mortgages 5.3 7.9 14.9 24.8
By borrowing sector
40 Commercial banking 22.5 13.0 46.1 72.9
41 Savings institutions 2.6 25.5 19.7 52.2
42 Credit unions -.1 .1 .1 .6
43 Life insurance companies -.1 1.1 .2 .7
44 Government-sponsored
enterprises 105.9 90.4 98.4 278.3
45 Federally related mortgage
pools 98.3 141.0 114.6 192.6
46 Issuers of asset-backed
securities (ABSs) 142.4 150.8 202.2 321.4
47 Finance companies 50.2 45.9 48.7 43.0
48 Mortgage companies -2.2 4.1 -4.6 1.6
49 Real estate investment
trusts (REITs) 4.5 11.9 39.6 62.7
50 Brokers and dealers -5.0 -2.0 8.1 7.2
51 Funding corporations 34.9 64.1 80.7 40.7
All sectors
52 Total net borrowing, all
sectors 1,243.7 1,365.4 1,530.1 2,128.6
53 Open market paper 74.3 102.6 184.1 193.1
54 U.S. government securities 348.6 376.4 236.0 418.3
55 Municipal securities -48.2 2.6 71.4 96.8
56 Corporate and foreign bonds 344.1 357.0 422.4 550.4
57 Bank loans n.e.c. 114.7 92.1 128.2 145.0
58 Other loans and advances 70.1 62.5 102.8 158.5
59 Mortgages 201.1 283.5 332.6 498.8
60 Consumer credit 138.9 88.8 52.5 67.6
Funds raised through mutual funds
and corporate equities
61 Total net issues 131.7 231.7 181.2 101.6
62 Corporate equities -15.7 -5.9 -83.9 -173.0
63 Nonfinancial corporations -58.3 -69.5 -114.4 -267.0
64 Foreign shares purchased
by U.S. residents 50.4 82.8 57.6 101.2
65 Financial corporations -7.8 -19.2 -27.1 -7.3
66 Mutual fund shares 147.4 237.6 265.1 274.6
1999 2000
Transaction category or sector 1999 Q3 Q4 Q1
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,088.8 1,150.9 1,051.9 917.1
By sector and instrument
2 Federal government -71.2 -68.9 -34.0 -215.5
3 Treasury securities -71.0 -68.9 -34.0 -213.5
4 Budget agency securities
and mortgages -.2 .0 .0 -2.1
5 Nonfederal 1,160.0 1,219.8 1,085.9 1,132.6
By instrument
6 Commercial paper 37.4 49.8 44.0 29.8
7 Municipal securities
and loans 68.2 71.3 52.5 8.9
8 Corporate bonds 229.9 202.8 155.2 186.2
9 Bank loans n.e.c. 82.7 112.3 108.6 131.9
10 Other loans and advances 60.6 74.0 39.7 155.6
11 Mortgages 586.9 633.4 576.3 475.0
12 Home 426.1 473.6 391.3 336.5
13 Multifamily residential 39.6 40.6 51.0 28.8
14 Commercial 115.6 112.2 131.6 102.3
15 Farm 5.5 7.0 2.5 7.3
16 Consumer credit 94.4 76.2 109.5 145.3
By borrowing sector
17 Household 532.4 574.8 492.2 516.2
18 Nonfinancial business 575.3 592.6 560.1 612.7
19 Corporate 454.7 452.5 421.9 480.8
20 Nonfarm noncorporate 115.3 131.6 132.7 116.5
21 Farm 5.2 8.5 5.6 15.4
22 State and local government 52.3 52.5 33.6 3.8
23 Foreign net borrowing in
United States 25.3 77.3 17.6 118.0
24 Commercial paper 16.3 41.1 33.6 57.8
25 Bonds 14.2 44.0 -2.7 45.7
26 Bank loans n.e.c. .5 -6.6 2.3 15.4
27 Other loans and advances -5.7 -1.1 -15.5 -.9
28 Total domestic plus foreign 1,114.1 1,228.2 1,069.5 1,035.1
Financial sectors
29 Total net borrowing by
financial sectors 1,077.2 1,059.1 1,047.6 586.4
By instrument
30 Federal government-related 592.0 651.6 550.1 248.6
31 Government-sponsored
enterprise securities 318.2 407.1 367.9 104.9
32 Mortgage pool securities 273.8 244.5 182.2 143.7
33 Loans from U.S. government .0 .0 .0 .0
34 Private 485.3 407.5 497.4 337.8
35 Open market paper 176.2 89.9 479.0 130.9
36 Corporate bonds 211.1 174.4 -36.6 135.1
37 Bank loans n.e.c. -14.3 -5.9 -55.6 .3
38 Other loans and advances 107.1 139.8 107.5 64.4
39 Mortgages 5.1 9.4 3.2 7.0
By borrowing sector
40 Commercial banking 67.2 107.0 54.1 72.4
41 Savings institutions 48.0 51.9 5.8 40.6
42 Credit unions 2.2 2.8 3.3 -2.9
43 Life insurance companies .7 1.1 -4.4 -.7
44 Government-sponsored
enterprises 318.2 407.1 367.9 104.9
45 Federally related mortgage
pools 273.8 244.5 182.2 143.7
46 Issuers of asset-backed
securities (ABSs) 223.4 215.4 108.6 134.6
47 Finance companies 62.4 -17.2 99.2 52.3
48 Mortgage companies .2 -6.1 6.2 -3.0
49 Real estate investment
trusts (REITs) 6.3 7.9 11.3 11.5
50 Brokers and dealers -17.2 17.8 -37.3 44.4
51 Funding corporations 92.2 27.0 250.6 -11.4
All sectors
52 Total net borrowing, all
sectors 2,191.3 2,287.4 2,117.1 1,621.5
53 Open market paper 229.9 180.7 556.6 218.4
54 U.S. government securities 520.7 582.7 516.1 33.0
55 Municipal securities 68.2 71.3 52.5 8.9
56 Corporate and foreign bonds 455.2 421.2 115.9 367.0
57 Bank loans n.e.c. 68.9 99.8 55.2 147.7
58 Other loans and advances 162.0 212.8 131.7 219.2
59 Mortgages 592.0 642.7 579.5 482.0
60 Consumer credit 94.4 76.2 109.5 145.3
Funds raised through mutual funds
and corporate equities
61 Total net issues 161.6 129.6 178.1 366.3
62 Corporate equities -26.7 2.2 5.2 60.2
63 Nonfinancial corporations -143.5 -128.4 -55.0 61.2
64 Foreign shares purchased
by U.S. residents 114.4 121.7 71.3 63.3
65 Financial corporations 2.4 8.8 -11.1 -64.2
66 Mutual fund shares 188.3 127.5 172.8 306.1
2000 2001
Transaction category or sector Q2 Q3 Q4 Q1
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 952.3 752.2 829.1 965.5
By sector and instrument
2 Federal government -414.0 -219.5 -334.5 -10.8
3 Treasury securities -415.8 -217.1 -333.3 -8.6
4 Budget agency securities
and mortgages 1.8 -2.4 -1.2 -2.2
5 Nonfederal 1,366.2 971.8 1,163.5 976.3
By instrument
6 Commercial paper 110.4 56.1 -4.0 -207.2
7 Municipal securities
and loans 34.0 29.8 68.6 94.3
8 Corporate bonds 153.8 184.4 175.6 400.0
9 Bank loans n.e.c. 163.1 31.7 86.5 -11.3
10 Other loans and advances 126.6 -10.1 145.1 -8.9
11 Mortgages 640.4 557.4 568.1 553.8
12 Home 482.4 428.4 413.5 406.3
13 Multifamily residential 43.9 29.5 40.3 40.8
14 Commercial 104.3 93.2 110.6 101.5
15 Farm 9.7 6.2 3.7 5.1
16 Consumer credit 137.9 122.5 123.7 155.6
By borrowing sector
17 Household 632.7 550.5 565.2 559.9
18 Nonfinancial business 712.7 397.6 537.9 326.5
19 Corporate 578.5 282.3 407.5 231.8
20 Nonfarm noncorporate 125.1 109.3 116.5 85.7
21 Farm 9.1 6.0 13.9 9.1
22 State and local government 20.8 23.6 60.4 89.9
23 Foreign net borrowing in
United States -7.6 89.3 66.3 -27.0
24 Commercial paper 12.0 7.0 50.1 -25.4
25 Bonds -27.4 71.8 9.2 -1.4
26 Bank loans n.e.c. 5.7 11.9 12.2 10.3
27 Other loans and advances 2.0 -1.5 -5.2 -10.5
28 Total domestic plus foreign 944.6 841.5 895.4 938.4
Financial sectors
29 Total net borrowing by
financial sectors 819.3 725.5 1,075.9 893.6
By instrument
30 Federal government-related 370.4 503.4 612.1 461.1
31 Government-sponsored
enterprise securities 248.9 278.1 304.8 264.1
32 Mortgage pool securities 121.6 225.3 307.3 197.0
33 Loans from U.S. government .0 .0 .0 .0
34 Private 448.9 222.1 463.8 432.5
35 Open market paper 77.4 65.2 237.5 -119.5
36 Corporate bonds 233.0 188.3 211.6 456.8
37 Bank loans n.e.c. 5.4 -.7 -6.2 23.6
38 Other loans and advances 123.1 -36.7 19.1 79.2
39 Mortgages 10.0 6.0 1.8 -7.5
By borrowing sector
40 Commercial banking 113.2 23.5 30.8 138.4
41 Savings institutions 59.1 -23.4 32.7 40.8
42 Credit unions .9 1.1 1.0 -.2
43 Life insurance companies -1.1 -.3 -.7 -2.4
44 Government-sponsored
enterprises 248.9 278.1 304.8 264.1
45 Federally related mortgage
pools 121.6 225.3 307.3 197.0
46 Issuers of asset-backed
securities (ABSs) 157.1 148.0 311.3 277.0
47 Finance companies 103.9 96.9 45.6 -43.8
48 Mortgage companies 2.7 -.3 1.0 .7
49 Real estate investment
trusts (REITs) 9.8 -2.4 -8.1 -6.1
50 Brokers and dealers -.7 25.4 -6.6 -23.9
51 Funding corporations 4.0 -46.4 56.8 51.8
All sectors
52 Total net borrowing, all
sectors 1,763.9 1,567.0 1,971.3 1,832.1
53 Open market paper 199.8 128.4 283.6 -352.1
54 U.S. government securities -43.5 283.8 277.6 450.3
55 Municipal securities 34.0 29.8 68.6 94.3
56 Corporate and foreign bonds 359.5 444.6 396.4 855.4
57 Bank loans n.e.c. 174.2 42.9 92.5 22.6
58 Other loans and advances 251.7 -48.3 159.0 59.7
59 Mortgages 650.4 563.4 569.9 546.3
60 Consumer credit 137.9 122.5 123.7 155.6
Funds raised through mutual funds
and corporate equities
61 Total net issues 142.4 170.9 -170.9 127.4
62 Corporate equities -95.2 -88.9 -342.0 22.7
63 Nonfinancial corporations -245.2 -87.7 -394.8 -33.9
64 Foreign shares purchased
by U.S. residents 180.1 61.1 90.5 79.8
65 Financial corporations -30.2 -62.3 -37.8 -23.2
66 Mutual fund shares 237.6 259.8 171.1 104.7
(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 or sector 1995 1996 1997
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit
markets 1,243.7 1,365.4 1,530.1
2 Domestic nonfederal nonfinancial
sectors -65.7 81.0 -17.3
3 Household 29.7 129.3 -2.6
4 Nonfinancial corporate business -8.8 -10.2 -12.7
5 Nonfarm noncorporate business 4.7 -4.3 -2.1
6 State and local governments -91.4 -33.7 .1
7 Federal government -.5 -7.2 5.1
8 Rest of the world 273.9 414.4 311.3
9 Financial sectors 1,036.0 877.1 1,231.0
10 Monetary authority 12.7 12.3 38.3
11 Commercial banking 265.9 187.5 324.3
12 U.S.-chartered banks 186.5 119.6 274.9
13 Foreign banking offices in
United States 75.4 63.3 40.2
14 Bank holding companies -.3 3.9 5.4
15 Banks in U.S.-affiliated
areas 4.2 .7 3.7
16 Savings institutions -7.6 19.9 -4.7
17 Credit unions 16.2 25.5 16.8
18 Bank personal trusts and
estates -8.3 -7.7 -25.0
19 Life insurance companies 100.0 69.6 104.8
20 Other insurance companies 21.5 22.5 25.2
21 Private pension funds 19.9 -4.1 47.6
22 State and local government
retirement funds 38.3 35.8 67.1
23 Money market mutual funds 86.5 88.8 87.5
24 Mutual funds 52.5 48.9 80.9
25 Closed-end funds 10.5 4.7 -2.6
26 Government-sponsored
enterprises 86.7 84.2 94.3
27 Federally related mortgage
pools 98.3 141.0 114.6
28 Asset-backed securities
issuers (ABSs) 120.6 120.5 163.8
29 Finance companies 49.9 18.4 21.9
30 Mortgage companies -3.4 8.2 -9.1
31 Real estate investment
trusts (REITs) 1.4 4.4 20.2
32 Brokers and dealers 90.1 -15.7 14.9
33 Funding corporations -15.7 12.6 50.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,243.7 1,365.4 1,530.1
Other financial sources
35 Official foreign exchange 8.8 -6.3 .7
36 Special drawing rights
certificates 2.2 -.5 -.5
37 Treasury currency .7 .5 .5
38 Foreign deposits 35.3 85.9 108.9
39 Net interbank transactions 10.0 -51.6 -19.7
40 Checkable deposits and currency -12.8 15.7 41.2
41 Small time and savings deposits 96.6 97.2 97.1
42 Large time deposits 65.6 114.0 122.5
43 Money market fund shares 141.2 145.4 155.9
44 Security repurchase agreements 110.5 41.4 120.9
45 Corporate equities -15.7 -5.9 -83.9
46 Mutual fund shares 147.4 237.6 265.1
47 Trade payables 127.5 113.5 132.1
48 Security credit 26.7 52.4 111.0
49 Life insurance reserves 45.8 44.5 59.3
50 Pension fund reserves 158.8 148.3 201.4
51 Taxes payable 6.2 16.2 15.7
52 Investment in bank personal
trusts 6.4 -5.3 -49.9
53 Noncorporate proprietors' equity 36.5 -11.9 -50.2
54 Miscellaneous 505.4 532.1 487.5
55 Total financial sources 2,746.6 2,928.8 3,245.7
Liabilities not identified as
assets (-)
56 Treasury currency -.3 -.4 -.2
57 Foreign deposits 25.1 59.6 107.4
58 Net interbank liabilities -3.1 -3.3 -19.9
59 Security repurchase agreements 25.7 2.4 63.2
60 Taxes payable 21.1 23.1 28.0
61 Miscellaneous -208.4 -137.2 -148.6
Floats not included in assets (-)
62 Federal government checkable
deposits -6.0 .5 -2.7
63 Other checkable deposits -3.8 -4.0 -3.9
64 Trade credit 14.1 -21.9 -28.5
65 Total identified to sectors as
assets 2,882.3 3,010.1 3,250.9
Transaction category or sector 1998 1999 1999
Q3
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit
markets 2,128.6 2,191.3 2,287.4
2 Domestic nonfederal nonfinancial
sectors 106.3 231.5 202.7
3 Household -12.2 189.4 238.4
4 Nonfinancial corporate business -16.0 -2.8 5.8
5 Nonfarm noncorporate business .1 1.5 .8
6 State and local governments 134.5 43.4 -42.4
7 Federal government 13.5 5.8 11.2
8 Rest of the world 254.2 210.6 385.3
9 Financial sectors 1,754.5 1,743.4 1,688.2
10 Monetary authority 21.1 25.7 20.6
11 Commercial banking 305.2 308.2 449.4
12 U.S.-chartered banks 312.0 317.6 421.9
13 Foreign banking offices in
United States -11.9 -20.1 33.2
14 Bank holding companies -.9 6.2 -12.4
15 Banks in U.S.-affiliated
areas 6.0 4.4 6.6
16 Savings institutions 36.1 68.6 58.1
17 Credit unions 19.0 27.5 27.5
18 Bank personal trusts and
estates -12.8 27.8 27.8
19 Life insurance companies 76.9 53.5 36.8
20 Other insurance companies 20.4 -4.2 -14.4
21 Private pension funds 56.4 45.0 5.9
22 State and local government
retirement funds 72.1 46.9 40.0
23 Money market mutual funds 244.0 182.0 224.8
24 Mutual funds 124.8 47.2 -13.0
25 Closed-end funds 5.5 6.9 6.9
26 Government-sponsored
enterprises 261.7 235.5 275.9
27 Federally related mortgage
pools 192.6 273.8 244.5
28 Asset-backed securities
issuers (ABSs) 281.7 205.2 206.9
29 Finance companies 51.9 94.9 91.7
30 Mortgage companies 3.2 .3 -12.1
31 Real estate investment
trusts (REITs) -5.1 -2.6 -2.7
32 Brokers and dealers 6.8 -34.7 -6.7
33 Funding corporations -6.9 135.9 20.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,128.6 2,191.3 2,287.4
Other financial sources
35 Official foreign exchange 6.6 -8.7 -8.5
36 Special drawing rights
certificates .0 -3.0 -4.0
37 Treasury currency .6 1.0 2.0
38 Foreign deposits 2.0 86.5 69.4
39 Net interbank transactions -32.3 17.6 -30.8
40 Checkable deposits and currency 47.4 151.4 139.3
41 Small time and savings deposits 152.4 44.7 119.1
42 Large time deposits 92.1 130.6 102.7
43 Money market fund shares 287.2 249.1 174.3
44 Security repurchase agreements 91.3 169.7 191.4
45 Corporate equities -173.0 -26.7 2.2
46 Mutual fund shares 274.6 188.3 127.5
47 Trade payables 96.0 207.3 257.9
48 Security credit 103.3 104.3 29.7
49 Life insurance reserves 48.0 50.8 48.1
50 Pension fund reserves 202.1 184.5 191.7
51 Taxes payable 12.0 16.1 .4
52 Investment in bank personal
trusts -42.5 -7.1 -7.2
53 Noncorporate proprietors' equity -50.0 -10.8 -59.6
54 Miscellaneous 936.5 654.6 499.0
55 Total financial sources 4,182.8 4,391.3 4,131.7
Liabilities not identified as
assets (-)
56 Treasury currency -.1 -.7 .2
57 Foreign deposits -13.0 71.3 26.4
58 Net interbank liabilities 3.4 3.5 -7.0
59 Security repurchase agreements 60.4 29.9 131.1
60 Taxes payable 13.9 3.6 3.0
61 Miscellaneous -207.7 -436.0 -540.7
Floats not included in assets (-)
62 Federal government checkable
deposits 2.6 -7.4 8.6
63 Other checkable deposits -3.1 -.8 -.3
64 Trade credit -44.6 57.5 79.3
65 Total identified to sectors as
assets 4,371.1 4,670.4 4,431.1
Transaction category or sector 1999 2000
Q4 Q1 Q2
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit
markets 2,117.1 1,621.5 1,763.9
2 Domestic nonfederal nonfinancial
sectors -41.2 -148.2 120.8
3 Household 2.7 -224.5 61.8
4 Nonfinancial corporate business -47.6 71.5 14.9
5 Nonfarm noncorporate business 1.4 2.6 2.8
6 State and local governments 2.4 2.3 41.4
7 Federal government -11.7 6.5 7.7
8 Rest of the world 138.7 325.9 207.1
9 Financial sectors 2,031.3 1,437.2 1,428.4
10 Monetary authority -42.2 103.4 -3.9
11 Commercial banking 548.7 377.1 484.6
12 U.S.-chartered banks 457.7 409.2 505.6
13 Foreign banking offices in
United States 42.0 4.8 -29.9
14 Bank holding companies 42.6 -42.2 3.5
15 Banks in U.S.-affiliated
areas 6.3 5.4 5.4
16 Savings institutions 20.2 56.3 71.2
17 Credit unions 18.8 35.6 36.6
18 Bank personal trusts and
estates 27.8 18.9 13.8
19 Life insurance companies 30.7 51.3 50.9
20 Other insurance companies -9.4 -14.0 -18.1
21 Private pension funds 49.8 46.8 24.7
22 State and local government
retirement funds 46.2 63.3 31.5
23 Money market mutual funds 354.5 208.8 -156.2
24 Mutual funds -12.7 -77.8 63.7
25 Closed-end funds 6.9 -8.8 -8.8
26 Government-sponsored
enterprises 225.3 138.2 222.3
27 Federally related mortgage
pools 182.2 143.7 121.6
28 Asset-backed securities
issuers (ABSs) 78.8 114.0 122.6
29 Finance companies 114.4 132.9 138.9
30 Mortgage companies 12.3 -6.0 5.5
31 Real estate investment
trusts (REITs) -7.0 -16.3 -2.5
32 Brokers and dealers -30.5 96.6 58.6
33 Funding corporations 416.5 -26.6 171.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,117.1 1,621.5 1,763.9
Other financial sources
35 Official foreign exchange -7.0 1.5 -8.8
36 Special drawing rights
certificates -4.0 .0 -8.0
37 Treasury currency .0 2.2 3.2
38 Foreign deposits 52.7 258.5 8.5
39 Net interbank transactions -40.7 -64.7 150.3
40 Checkable deposits and currency 365.2 -219.1 -65.0
41 Small time and savings deposits 28.0 104.3 130.3
42 Large time deposits 359.4 149.2 108.4
43 Money market fund shares 485.5 241.0 48.2
44 Security repurchase agreements 310.5 257.4 156.8
45 Corporate equities 5.2 60.2 -95.2
46 Mutual fund shares 172.8 306.1 237.6
47 Trade payables 219.1 211.8 122.6
48 Security credit 321.3 489.9 -86.2
49 Life insurance reserves 57.6 54.9 45.6
50 Pension fund reserves 164.0 212.7 262.7
51 Taxes payable 18.3 22.7 29.9
52 Investment in bank personal
trusts -6.9 -5.9 -10.6
53 Noncorporate proprietors' equity 7.0 -20.7 -3.6
54 Miscellaneous 518.4 962.3 1,194.5
55 Total financial sources 5,143.8 4,645.7 3,985.3
Liabilities not identified as
assets (-)
56 Treasury currency -2.2 -1.8 -.7
57 Foreign deposits 114.4 211.5 -77.1
58 Net interbank liabilities -23.7 24.4 -4.3
59 Security repurchase agreements -225.4 560.7 56.8
60 Taxes payable -4.9 7.9 5.7
61 Miscellaneous -319.1 -437.9 -323.0
Floats not included in assets (-)
62 Federal government checkable
deposits -9.2 28.7 -2.6
63 Other checkable deposits .0 .6 1.5
64 Trade credit 185.5 -19.9 -47.8
65 Total identified to sectors as
assets 5,428.4 4,271.7 4,377.0
Transaction category or sector 2000 2001
Q3 Q4 Q1
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit
markets 1,567.0 1,971.3 1,832.1
2 Domestic nonfederal nonfinancial
sectors -236.9 -212.5 -261.2
3 Household -218.5 -233.3 -279.3
4 Nonfinancial corporate business -3.2 -35.5 10.3
5 Nonfarm noncorporate business 3.8 4.3 4.4
6 State and local governments -19.0 52.1 3.4
7 Federal government 4.5 10.2 6.1
8 Rest of the world 205.6 381.1 112.4
9 Financial sectors 1,593.8 1,792.4 1,974.7
10 Monetary authority 27.3 7.9 55.0
11 Commercial banking 369.3 203.8 108.4
12 U.S.-chartered banks 332.8 111.6 63.9
13 Foreign banking offices in
United States 30.9 90.4 40.7
14 Bank holding companies -6.7 -3.2 7.3
15 Banks in U.S.-affiliated
areas 12.3 5.1 -3.6
16 Savings institutions 58.2 40.1 50.5
17 Credit unions 28.5 25.0 39.0
18 Bank personal trusts and
estates 17.6 18.1 10.7
19 Life insurance companies 81.5 73.1 71.9
20 Other insurance companies 6.0 -4.0 16.2
21 Private pension funds 68.9 28.7 35.7
22 State and local government
retirement funds 1.1 80.6 58.8
23 Money market mutual funds 244.9 297.9 357.7
24 Mutual funds 46.3 74.4 56.4
25 Closed-end funds -8.8 -8.8 -8.8
26 Government-sponsored
enterprises 158.9 302.8 289.9
27 Federally related mortgage
pools 225.3 307.3 197.0
28 Asset-backed securities
issuers (ABSs) 112.8 282.4 257.0
29 Finance companies 81.4 44.3 -16.7
30 Mortgage companies -.5 2.0 1.4
31 Real estate investment
trusts (REITs) -3.6 -2.8 4.0
32 Brokers and dealers 181.4 -61.0 284.1
33 Funding corporations -102.9 80.5 106.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,567.0 1,971.3 1,832.1
Other financial sources
35 Official foreign exchange .7 4.9 -10.5
36 Special drawing rights
certificates -4.0 -4.0 .0
37 Treasury currency 4.2 .0 -1.1
38 Foreign deposits -16.0 192.7 40.0
39 Net interbank transactions -148.6 -17.2 -168.8
40 Checkable deposits and currency 49.2 -50.2 83.8
41 Small time and savings deposits 238.5 290.8 287.6
42 Large time deposits 141.5 75.3 125.7
43 Money market fund shares 241.9 402.2 623.0
44 Security repurchase agreements 238.6 -209.3 -44.4
45 Corporate equities -88.9 -342.0 22.7
46 Mutual fund shares 259.8 171.1 104.7
47 Trade payables 135.1 87.1 88.8
48 Security credit 102.2 57.9 -118.8
49 Life insurance reserves 35.9 65.4 40.5
50 Pension fund reserves 197.4 188.7 273.0
51 Taxes payable -10.7 271.0 24.5
52 Investment in bank personal
trusts -6.6 -5.5 -14.1
53 Noncorporate proprietors' equity 31.6 -2.6 -5.4
54 Miscellaneous 1,210.2 673.5 590.5
55 Total financial sources 4,178.9 3,577.4 3,773.5
Liabilities not identified as
assets (-)
56 Treasury currency .9 -3.3 -2.5
57 Foreign deposits -75.0 160.0 17.3
58 Net interbank liabilities -18.3 68.6 16.4
59 Security repurchase agreements 104.9 -286.4 -87.3
60 Taxes payable -20.1 32.3 17.4
61 Miscellaneous -49.2 -189.1 160.2
Floats not included in assets (-)
62 Federal government checkable
deposits -2.0 11.9 -10.7
63 Other checkable deposits 1.9 2.7 3.3
64 Trade credit -41.0 41.6 -1.9
65 Total identified to sectors as
assets 4,276.9 3,739.1 3,661.2
(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 or sector 1996 1997 1998
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 14,443.7 15,246.8 16,258.2
By sector and instrument
2 Federal government 3,781.8 3,804.9 3,752.2
3 Treasury securities 3,755.1 3,778.3 3,723.7
4 Budget agency securities and
mortgages 26.6 26.5 28.5
5 Nonfederal 10,662.0 11,441.9 12,505.9
By instrument
6 Commercial paper 156.4 168.6 193.0
7 Municipal securities and
loans 1,296.0 1,367.5 1,464.3
8 Corporate bonds 1,460.4 1,610.9 1,829.6
9 Bank loans n.e.c. 934.1 1,040.5 1,148.8
10 Other loans and advances 770.4 839.5 913.8
11 Mortgages 4,833.1 5,150.8 5,624.8
12 Home 3,719.0 3,971.3 4,351.0
13 Multifamily residential 278.4 286.6 306.5
14 Commercial 748.6 802.6 870.8
15 Farm 87.1 90.3 96.5
16 Consumer credit 1,211.6 1,264.1 1,331.7
By borrowing sector
17 Household 5,222.5 5,559.9 6,032.0
18 Nonfinancial business 4,376.1 4,762.5 5,274.2
19 Corporate 3,095.3 3,359.9 3,751.9
20 Nonfarm noncorporate 1,130.9 1,246.5 1,358.4
21 Farm 149.9 156.1 163.8
22 State and local government 1,063.4 1,119.5 1,199.8
23 Foreign credit market debt
held in United States 542.2 608.0 651.4
24 Commercial paper 67.5 65.1 72.9
25 Bonds 366.3 427.7 462.5
26 Bank loans n.e.c. 43.7 52.1 58.9
27 Other loans and advances 64.7 63.0 57.2
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 14,985.9 15,854.7 16,909.6
Financial sectors
29 Total credit market debt owed
by financial sectors 4,824.5 5,445.2 6,519.1
By instrument
30 Federal government-related 2,608.2 2,821.1 3,292.0
31 Government-sponsored
enterprise securities 896.9 995.3 1,273.6
32 Mortgage pool securities 1,711.3 1,825.8 2,018.4
33 Loans from U.S. government .0 .0 .0
34 Private 2,216.3 2,624.1 3,227.1
35 Open market paper 579.1 745.7 906.7
36 Corporate bonds 1,378.4 1,555.9 1,852.8
37 Bank loans n.e.c. 64.0 77.2 107.2
38 Other loans and advances 162.9 198.5 288.7
39 Mortgages 31.9 46.8 71.6
By borrowing sector
40 Commercial banks 113.6 140.6 188.6
41 Bank holding companies 150.0 168.6 193.5
42 Savings institutions 140.5 160.3 212.4
43 Credit unions 4.0 .6 1.1
44 Life insurance companies 1.6 1.8 2.5
45 Government-sponsored
enterprises 896.9 995.3 1,273.6
46 Federally related mortgage
pools 1,711.3 1,825.8 2,018.4
47 Issuers of asset-backed
securities (ABSs) 863.3 1,076.6 1,398.0
48 Brokers and dealers 27.3 35.3 42.5
49 Finance companies 529.8 554.5 597.5
50 Mortgage companies 20.6 16.0 17.7
51 Real estate investment trusts
(REITs) 56.5 96.1 158.8
52 Funding corporations 312.7 373.7 414.4
All sectors
53 Total credit market debt,
domestic and foreign 19,810.4 21,300.0 23,428.7
54 Open market paper 803.0 979.4 1,172.6
55 U.S. government securities 6,389.9 6,626.0 7,044.3
56 Municipal securities 1,296.0 1,367.5 1,464.3
57 Corporate and foreign bonds 3,205.1 3,594.5 4,144.9
58 Bank loans n.e.c. 1,041.7 1,169.8 1,314.9
59 Other loans and advances 998.0 1,101.0 1,259.6
60 Mortgages 4,865.1 5,197.7 5,696.4
61 Consumer credit 1,211.6 1,264.1 1,331.7
Transaction category or sector 1999 1999
Q3 Q4
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 17,381.6 17,052.5 17,381.6
By sector and instrument
2 Federal government 3,681.0 3,633.4 3,681.0
3 Treasury securities 3,652.8 3,605.1 3,625.8
4 Budget agency securities and
mortgages 28.3 28.3 28.3
5 Nonfederal 13,700.6 13,419.1 13,700.6
By instrument
6 Commercial paper 230.3 239.3 230.3
7 Municipal securities and
loans 1,532.5 1,518.6 1,532.5
8 Corporate bonds 2,059.5 2,020.7 2,059.5
9 Bank loans n.e.c. 1,231.5 1,202.9 1,231.5
10 Other loans and advances 974.6 963.1 974.6
11 Mortgages 6,246.1 6,104.5 6,246.1
12 Home 4,777.1 4,681.8 4,777.1
13 Multifamily residential 346.4 333.6 346.4
14 Commercial 1,020.5 987.6 1,020.5
15 Farm 102.0 101.4 102.0
16 Consumer credit 1,426.2 1,370.1 1,426.2
By borrowing sector
17 Household 6,564.6 6,413.2 6,564.6
18 Nonfinancial business 5,883.9 5,763.5 5,883.9
19 Corporate 4,241.0 4,154.7 4,241.0
20 Nonfarm noncorporate 1,473.8 1,440.2 1,473.8
21 Farm 169.0 168.6 169.0
22 State and local government 1,252.1 1,242.4 1,252.1
23 Foreign credit market debt
held in United States 676.9 672.9 676.9
24 Commercial paper 89.2 81.8 89.2
25 Bonds 476.7 477.4 476.7
26 Bank loans n.e.c. 59.4 58.8 59.4
27 Other loans and advances 51.7 55.0 51.7
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 18,058.6 17,725.4 18,058.6
Financial sectors
29 Total credit market debt owed
by financial sectors 7,596.3 7,340.1 7,596.3
By instrument
30 Federal government-related 3,884.0 3,745.9 3,884.0
31 Government-sponsored
enterprise securities 1,591.7 1,499.8 1,591.7
32 Mortgage pool securities 2,292.2 2,246.1 2,292.2
33 Loans from U.S. government .0 .0 .0
34 Private 3,712.4 3,594.2 3,712.4
35 Open market paper 1,082.9 963.4 1,082.9
36 Corporate bonds 2,064.0 2,084.3 2,064.0
37 Bank loans n.e.c. 92.9 105.2 92.9
38 Other loans and advances 395.8 365.4 395.8
39 Mortgages 76.7 75.9 76.7
By borrowing sector
40 Commercial banks 230.0 224.2 230.0
41 Bank holding companies 219.3 211.8 219.3
42 Savings institutions 260.4 255.4 260.4
43 Credit unions 3.4 2.5 3.4
44 Life insurance companies 3.2 4.3 3.2
45 Government-sponsored
enterprises 1,591.7 1,499.8 1,591.7
46 Federally related mortgage
pools 2,292.2 2,246.1 2,292.2
47 Issuers of asset-backed
securities (ABSs) 1,621.4 1,592.4 1,621.4
48 Brokers and dealers 25.3 34.6 25.3
49 Finance companies 659.9 628.5 659.9
50 Mortgage companies 17.8 16.3 17.8
51 Real estate investment trusts
(REITs) 165.1 162.2 165.1
52 Funding corporations 506.6 462.0 506.6
All sectors
53 Total credit market debt,
domestic and foreign 25,654.9 25,065.5 25,654.9
54 Open market paper 1,402.4 1,284.5 1,402.4
55 U.S. government securities 7,565.0 7,379.2 7,565.0
56 Municipal securities 1,532.5 1,518.6 1,532.5
57 Corporate and foreign bonds 4,600.1 4,582.4 4,600.1
58 Bank loans n.e.c. 1,383.8 1,366.9 1,383.8
59 Other loans and advances 1,422.1 1,383.4 1,422.1
60 Mortgages 6,322.8 6,180.4 6,322.8
61 Consumer credit 1,426.2 1,370.1 1,426.2
Transaction category or sector 2000
Q1 Q2 Q3
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 17,609.4 17,784.7 17,984.2
By sector and instrument
2 Federal government 3,653.5 3,464.0 3,410.2
3 Treasury securities 3,625.8 3,435.7 3,382.6
4 Budget agency securities and
mortgages 27.8 28.2 27.6
5 Nonfederal 13,955.9 14,320.7 14,574.0
By instrument
6 Commercial paper 260.8 296.8 307.0
7 Municipal securities and
loans 1,539.2 1,551.6 1,550.3
8 Corporate bonds 2,106.0 2,144.5 2,190.6
9 Bank loans n.e.c. 1,259.1 1,307.2 1,311.6
10 Other loans and advances 1,020.1 1,049.5 1,052.2
11 Mortgages 6,354.7 6,517.1 6,667.1
12 Home 4,851.1 4,974.1 5,091.8
13 Multifamily residential 353.6 364.6 371.9
14 Commercial 1,046.1 1,072.2 1,095.5
15 Farm 103.9 106.3 107.8
16 Consumer credit 1,416.0 1,454.0 1,495.3
By borrowing sector
17 Household 6,632.7 6,800.2 6,968.6
18 Nonfinancial business 6,065.9 6,254.8 6,342.3
19 Corporate 4,392.5 4,544.7 4,603.7
20 Nonfarm noncorporate 1,503.2 1,534.5 1,561.1
21 Farm 170.3 175.7 177.5
22 State and local government 1,257.3 1,265.7 1,263.1
23 Foreign credit market debt
held in United States 704.6 699.3 727.8
24 Commercial paper 101.6 101.2 109.8
25 Bonds 488.1 481.3 499.2
26 Bank loans n.e.c. 63.3 64.7 67.7
27 Other loans and advances 51.7 52.1 51.2
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 18,314.0 18,484.0 18,712.0
Financial sectors
29 Total credit market debt owed
by financial sectors 7,725.8 7,946.3 8,140.2
By instrument
30 Federal government-related 3,940.1 4,035.3 4,164.0
31 Government-sponsored
enterprise securities 1,618.0 1,680.2 1,749.7
32 Mortgage pool securities 2,322.1 2,355.2 2,414.3
33 Loans from U.S. government .0 .0 .0
34 Private 3,785.7 3,911.0 3,976.1
35 Open market paper 1,115.7 1,135.2 1,151.6
36 Corporate bonds 2,095.7 2,165.2 2,219.4
37 Bank loans n.e.c. 91.4 92.7 92.5
38 Other loans and advances 404.4 436.9 430.2
39 Mortgages 78.5 81.0 82.5
By borrowing sector
40 Commercial banks 242.2 265.4 265.2
41 Bank holding companies 221.4 229.3 236.9
42 Savings institutions 266.9 280.7 276.0
43 Credit unions 2.6 2.9 3.1
44 Life insurance companies 3.0 2.7 2.7
45 Government-sponsored
enterprises 1,618.0 1,680.2 1,749.7
46 Federally related mortgage
pools 2,322.1 2,355.2 2,414.3
47 Issuers of asset-backed
securities (ABSs) 1,647.3 1,688.5 1,733.8
48 Brokers and dealers 36.4 36.2 42.6
49 Finance companies 670.7 699.2 716.5
50 Mortgage companies 17.1 17.8 17.7
51 Real estate investment trusts
(REITs) 167.9 170.4 169.8
52 Funding corporations 510.1 517.9 511.9
All sectors
53 Total credit market debt,
domestic and foreign 26,039.8 26,430.3 26,852.2
54 Open market paper 1,478.1 1,533.3 1,568.3
55 U.S. government securities 7,593.6 7,499.3 7,574.2
56 Municipal securities 1,539.2 1,551.6 1,550.3
57 Corporate and foreign bonds 4,689.8 4,791.0 4,909.2
58 Bank loans n.e.c. 1,413.7 1,464.6 1,471.7
59 Other loans and advances 1,476.2 1,538.5 1,533.6
60 Mortgages 6,433.2 6,598.1 6,749.5
61 Consumer credit 1,416.0 1,454.0 1,495.3
Transaction category or sector 2000 2001
Q4 Q1
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 18,263.4 18,506.5
By sector and instrument
2 Federal government 3,385.2 3,408.8
3 Treasury securities 3,357.8 3,382.1
4 Budget agency securities and
mortgages 27.3 26.8
5 Nonfederal 14,878.2 15,097.6
By instrument
6 Commercial paper 278.4 253.2
7 Municipal securities and
loans 1,567.8 1,596.6
8 Corporate bonds 2,234.5 2,334.5
9 Bank loans n.e.c. 1,334.8 1,326.2
10 Other loans and advances 1,090.0 1,094.6
11 Mortgages 6,806.3 6,934.7
12 Home 5,192.4 5,283.9
13 Multifamily residential 382.0 392.2
14 Commercial 1,123.1 1,148.5
15 Farm 108.8 110.0
16 Consumer credit 1,566.5 1,558.0
By borrowing sector
17 Household 7,149.9 7,227.6
18 Nonfinancial business 6,449.1 6,563.5
19 Corporate 4,678.3 4,771.4
20 Nonfarm noncorporate 1,590.6 1,612.3
21 Farm 180.2 179.8
22 State and local government 1,279.3 1,306.5
23 Foreign credit market debt
held in United States 743.4 736.6
24 Commercial paper 120.9 112.8
25 Bonds 501.5 501.2
26 Bank loans n.e.c. 70.7 73.3
27 Other loans and advances 50.3 49.4
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 19,006.8 19,243.1
Financial sectors
29 Total credit market debt owed
by financial sectors 8,410.0 8,616.4
By instrument
30 Federal government-related 4,317.6 4,426.1
31 Government-sponsored
enterprise securities 1,825.9 1,891.9
32 Mortgage pool securities 2,491.7 2,534.2
33 Loans from U.S. government .0 .0
34 Private 4,092.5 4,190.2
35 Open market paper 1,210.7 1,180.8
36 Corporate bonds 2,267.9 2,380.6
37 Bank loans n.e.c. 92.6 96.8
38 Other loans and advances 438.3 450.9
39 Mortgages 82.9 81.1
By borrowing sector
40 Commercial banks 266.7 273.9
41 Bank holding companies 242.5 266.0
42 Savings institutions 287.7 294.8
43 Credit unions 3.4 3.3
44 Life insurance companies 2.5 1.9
45 Government-sponsored
enterprises 1,825.9 1,891.9
46 Federally related mortgage
pools 2,491.7 2,534.2
47 Issuers of asset-backed
securities (ABSs) 1,821.1 1,882.4
48 Brokers and dealers 40.9 35.0
49 Finance companies 734.6 721.4
50 Mortgage companies 17.9 18.1
51 Real estate investment trusts
(REITs) 167.8 166.2
52 Funding corporations 507.3 527.2
All sectors
53 Total credit market debt,
domestic and foreign 27,416.8 27,859.5
54 Open market paper 1,610.0 1,546.8
55 U.S. government securities 7,702.7 7,834.9
56 Municipal securities 1,567.8 1,596.6
57 Corporate and foreign bonds 5,003.9 5,216.2
58 Bank loans n.e.c. 1,498.1 1,496.3
59 Other loans and advances 1,578.6 1,594.9
60 Mortgages 6,889.2 7,015.7
61 Consumer credit 1,566.5 1,558.0
(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 or sector 1996 1997 1998
CREDIT MARKET DEBT OUTSTANDING(2)
1 Total credit market assets 19,810.4 21,300.0 23,428.7
2 Domestic nonfederal nonfinancial
sectors 3,035.0 2,974.0 3,052.0
3 Household 2,122.0 2,075.7 2,035.1
4 Nonfinancial corporate
business 270.2 257.5 241.5
5 Nonfarm noncorporate business 38.0 35.9 35.9
6 State and local governments 604.8 605.0 739.4
7 Federal government 200.2 205.4 219.1
8 Rest of the world 1,926.6 2,257.3 2,539.8
9 Financial sectors 14,648.6 15,863.2 17,617.7
10 Monetary authority 393.1 431.4 452.5
11 Commercial banking 3,707.7 4,031.9 4,335.7
12 U.S.-chartered banks 3,175.8 3,450.7 3,761.2
13 Foreign banking offices in
United States 475.8 516.1 504.2
14 Bank holding companies 22.0 27.4 26.5
15 Banks in U.S.-affiliated
areas 34.1 37.8 43.8
16 Savings institutions 933.2 928.5 964.6
17 Credit unions 288.5 305.3 324.2
18 Bank personal trusts and
estates 232.0 207.0 194.1
19 Life insurance companies 1,657.0 1,751.1 1,828.0
20 Other insurance companies 491.2 515.3 535.7
21 Private pension funds 627.0 674.6 731.0
22 State and local government
retirement funds 565.4 632.5 704.6
23 Money market mutual funds 634.3 721.9 965.9
24 Mutual funds 820.2 901.1 1,025.9
25 Closed-end funds 101.1 98.5 104.0
26 Government-sponsored
enterprises 807.9 902.2 1,163.9
27 Federally related mortgage
pools 1,711.3 1,825.8 2,018.4
28 Asset-backed securities
issuers (ABSs) 773.9 937.7 1,219.4
29 Finance companies 544.5 566.4 618.4
30 Mortgage companies 41.2 32.1 35.3
31 Real estate investment trusts
(REITs) 30.4 50.6 45.5
32 Brokers and dealers 167.7 182.6 189.4
33 Funding corporations 121.0 166.7 161.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 19,810.4 21,300.0 23,428.7
Other liabilities
35 Official foreign exchange 53.7 48.9 60.1
36 Special drawing rights
certificates 9.7 9.2 9.2
37 Treasury currency 18.9 19.3 19.9
38 Foreign deposits 521.7 619.7 639.0
39 Net interbank liabilities 240.8 219.4 189.0
40 Checkable deposits and currency 1,244.8 1,286.1 1,333.4
41 Small time and savings deposits 2,377.0 2,474.1 2,626.5
42 Large time deposits 590.9 713.4 805.5
43 Money market fund shares 886.7 1,042.5 1,329.7
44 Security repurchase agreements 701.5 822.4 913.7
45 Mutual fund shares 2,342.4 2,989.4 3,610.5
46 Security credit 358.1 469.1 572.3
47 Life insurance reserves 610.6 665.0 718.3
48 Pension fund reserves 6,325.1 7,323.4 8,193.7
49 Trade payables 1,809.3 1,941.4 2,037.4
50 Taxes payable 123.8 139.5 151.5
51 Investment in bank personal
trusts 871.3 942.5 1,001.0
52 Miscellaneous 6,349.1 6,670.6 7,332.7
53 Total liabilities 45,245.6 49,695.6 54,972.1
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.4 21.1 21.6
55 Corporate equities 10,255.8 13,201.3 15,492.5
56 Household equity in noncorporate
business 3,889.2 4,162.6 4,428.4
Liabilities not identified as
assets (-)
57 Treasury currency -6.1 -6.3 -6.4
58 Foreign deposits 437.0 538.3 541.6
59 Net interbank transactions -10.6 -32.2 -27.0
60 Security repurchase agreements 109.8 172.9 233.4
61 Taxes payable 76.9 92.6 102.0
62 Miscellaneous -1,448.9 -1,785.7 -2,468.4
Floats not included in
assets (-)
63 Federal government checkable
deposits -1.6 -8.1 -3.9
64 Other checkable deposits 30.1 26.2 23.1
65 Trade credit 171.8 133.5 90.0
66 Total identified to sectors as
assets 60,053.7 67,949.4 76,430.1
Transaction category or sector 1999 1999
Q3 Q4
CREDIT MARKET DEBT OUTSTANDING(2)
1 Total credit market assets 25,654.9 25,065.5 25,654.9
2 Domestic nonfederal nonfinancial
sectors 3,353.6 3,239.7 3,353.6
3 Household 2,294.6 2,185.6 2,294.6
4 Nonfinancial corporate
business 238.7 235.1 238.7
5 Nonfarm noncorporate business 37.5 37.1 37.5
6 State and local governments 782.8 781.9 782.8
7 Federal government 258.0 260.7 258.0
8 Rest of the world 2,678.0 2,718.1 2,678.0
9 Financial sectors 19,365.3 18,846.9 19,365.3
10 Monetary authority 478.1 489.3 478.1
11 Commercial banking 4,643.9 4,488.3 4,643.9
12 U.S.-chartered banks 4,078.9 3,944.3 4,078.9
13 Foreign banking offices in
United States 484.1 475.3 484.1
14 Bank holding companies 32.7 22.0 32.7
15 Banks in U.S.-affiliated
areas 48.3 46.7 48.3
16 Savings institutions 1,033.2 1,030.5 1,033.2
17 Credit unions 351.7 348.5 351.7
18 Bank personal trusts and
estates 222.0 215.0 222.0
19 Life insurance companies 1,886.0 1,880.4 1,886.0
20 Other insurance companies 531.6 533.9 531.6
21 Private pension funds 775.9 763.5 775.9
22 State and local government
retirement funds 751.4 739.9 751.4
23 Money market mutual funds 1,147.8 1,049.7 1,147.8
24 Mutual funds 1,073.1 1,083.0 1,073.1
25 Closed-end funds 110.9 109.2 110.9
26 Government-sponsored
enterprises 1,399.5 1,339.1 1,399.5
27 Federally related mortgage
pools 2,292.2 2,246.1 2,292.2
28 Asset-backed securities
issuers (ABSs) 1,424.6 1,403.1 1,424.6
29 Finance companies 713.3 678.2 713.3
30 Mortgage companies 35.6 32.5 35.6
31 Real estate investment trusts
(REITs) 42.9 44.7 42.9
32 Brokers and dealers 154.7 166.8 154.7
33 Funding corporations 296.8 205.3 296.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 25,654.9 25,065.5 25,654.9
Other liabilities
35 Official foreign exchange 50.1 52.1 50.1
36 Special drawing rights
certificates 6.2 7.2 6.2
37 Treasury currency 20.9 20.9 20.9
38 Foreign deposits 725.8 712.3 725.8
39 Net interbank liabilities 204.5 199.6 204.5
40 Checkable deposits and currency 1,484.8 1,353.8 1,484.8
41 Small time and savings deposits 2,671.2 2,665.9 2,671.2
42 Large time deposits 936.1 837.5 936.1
43 Money market fund shares 1,578.8 1,444.9 1,578.8
44 Security repurchase agreements 1,083.4 999.4 1,083.4
45 Mutual fund shares 4,553.4 3,931.5 4,553.4
46 Security credit 676.6 593.1 676.6
47 Life insurance reserves 783.9 756.2 783.9
48 Pension fund reserves 9,041.7 8,363.7 9,041.7
49 Trade payables 2,244.6 2,169.9 2,244.6
50 Taxes payable 167.6 167.5 167.6
51 Investment in bank personal
trusts 1,130.4 1,019.0 1,130.4
52 Miscellaneous 7,788.5 7,465.5 7,788.5
53 Total liabilities 60,803.4 57,825.5 60,803.4
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.4 21.3 21.4
55 Corporate equities 19,494.5 16,106.8 19,494.5
56 Household equity in noncorporate
business 4,736.4 4,647.8 4,736.4
Liabilities not identified as
assets (-)
57 Treasury currency -7.1 -6.6 -7.1
58 Foreign deposits 613.3 584.3 613.3
59 Net interbank transactions -25.5 -13.2 -25.5
60 Security repurchase agreements 263.3 323.7 263.3
61 Taxes payable 95.6 96.5 95.6
62 Miscellaneous -3,079.3 -3,143.7 -3,079.3
Floats not included in
assets (-)
63 Federal government checkable
deposits -9.9 -10.2 -9.9
64 Other checkable deposits 22.3 14.5 22.3
65 Trade credit 148.9 29.3 148.9
66 Total identified to sectors as
assets 87,034.2 80,726.8 87,034.2
Transaction category or sector 2000
Q1 Q2 Q3
CREDIT MARKET DEBT OUTSTANDING(2)
1 Total credit market assets 26,039.8 26,430.3 26,852.2
2 Domestic nonfederal nonfinancial
sectors 3,285.6 3,289.4 3,236.4
3 Household 2,232.4 2,217.2 2,167.2
4 Nonfinancial corporate
business 232.1 237.6 240.7
5 Nonfarm noncorporate business 38.1 38.8 39.8
6 State and local governments 782.9 795.8 788.7
7 Federal government 259.6 261.6 262.7
8 Rest of the world 2,763.6 2,812.8 2,864.7
9 Financial sectors 19,731.0 20,066.5 20,488.4
10 Monetary authority 501.9 505.1 511.5
11 Commercial banking 4,725.0 4,847.4 4,931.0
12 U.S.-chartered banks 4,171.3 4,295.4 4,368.2
13 Foreign banking offices in
United States 482.0 478.1 487.5
14 Bank holding companies 22.1 23.0 21.3
15 Banks in U.S.-affiliated
areas 49.6 51.0 54.0
16 Savings institutions 1,045.8 1,062.5 1,082.2
17 Credit unions 359.0 370.8 378.6
18 Bank personal trusts and
estates 226.7 230.2 234.6
19 Life insurance companies 1,900.1 1,911.6 1,933.7
20 Other insurance companies 528.0 523.5 525.0
21 Private pension funds 787.6 793.8 811.0
22 State and local government
retirement funds 767.2 775.1 775.4
23 Money market mutual funds 1,217.1 1,159.4 1,212.5
24 Mutual funds 1,053.7 1,073.9 1,088.1
25 Closed-end funds 108.7 106.5 104.4
26 Government-sponsored
enterprises 1,426.4 1,483.5 1,532.5
27 Federally related mortgage
pools 2,322.1 2,355.2 2,414.3
28 Asset-backed securities
issuers (ABSs) 1,445.4 1,477.9 1,514.5
29 Finance companies 747.0 780.6 795.5
30 Mortgage companies 34.1 35.5 35.4
31 Real estate investment trusts
(REITs) 38.8 38.2 37.3
32 Brokers and dealers 194.6 187.9 243.3
33 Funding corporations 301.8 348.0 327.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 26,039.8 26,430.3 26,852.2
Other liabilities
35 Official foreign exchange 49.4 46.5 44.9
36 Special drawing rights
certificates 6.2 4.2 3.2
37 Treasury currency 21.4 22.1 23.2
38 Foreign deposits 790.4 792.6 788.6
39 Net interbank liabilities 169.7 210.6 173.2
40 Checkable deposits and currency 1,392.9 1,409.7 1,385.7
41 Small time and savings deposits 2,728.0 2,738.8 2,790.9
42 Large time deposits 966.5 987.4 1,025.9
43 Money market fund shares 1,666.0 1,627.1 1,697.8
44 Security repurchase agreements 1,149.2 1,185.0 1,238.7
45 Mutual fund shares 4,863.3 4,759.6 4,815.0
46 Security credit 795.4 775.5 800.4
47 Life insurance reserves 801.0 806.5 815.5
48 Pension fund reserves 9,237.9 9,166.7 9,308.4
49 Trade payables 2,271.1 2,302.3 2,342.9
50 Taxes payable 181.0 180.0 182.9
51 Investment in bank personal
trusts 1,163.0 1,124.1 1,122.3
52 Miscellaneous 7,981.8 8,254.0 8,701.5
53 Total liabilities 62,274.0 62,823.2 64,113.0
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.4 21.5 21.4
55 Corporate equities 20,147.2 19,179.6 18,990.4
56 Household equity in noncorporate
business 4,763.1 4,809.4 4,865.0
Liabilities not identified as
assets (-)
57 Treasury currency -7.6 -7.9 -7.6
58 Foreign deposits 666.1 646.9 628.1
59 Net interbank transactions -13.9 -11.6 -17.6
60 Security repurchase agreements 410.1 422.6 447.7
61 Taxes payable 89.6 103.0 92.5
62 Miscellaneous -3,250.3 -3,319.2 -3,099.3
Floats not included in
assets (-)
63 Federal government checkable
deposits -6.5 -5.2 -7.8
64 Other checkable deposits 18.7 22.5 15.5
65 Trade credit 89.2 54.3 43.4
66 Total identified to sectors as
assets 89,210.1 88,928.3, 89,894.8
Transaction category or sector 2000 2001
Q4 Q1
CREDIT MARKET DEBT OUTSTANDING(2)
1 Total credit market assets 27,416.8 27,859.5
2 Domestic nonfederal nonfinancial
sectors 3,246.4 3,146.6
3 Household 2,152.9 2,075.2
4 Nonfinancial corporate
business 250.6 226.9
5 Nonfarm noncorporate business 40.8 41.9
6 State and local governments 802.0 802.5
7 Federal government 265.2 268.3
8 Rest of the world 2,957.9 2,990.0
9 Financial sectors 20,947.3 21,454.6
10 Monetary authority 511.8 523.9
11 Commercial banking 5,002.6 5,016.7
12 U.S.-chartered banks 4,418.7 4,425.1
13 Foreign banking offices in
United States 508.1 514.9
14 Bank holding companies 20.5 22.3
15 Banks in U.S.-affiliated
areas 55.3 54.4
16 Savings institutions 1,089.7 1,101.0
17 Credit unions 383.1 391.3
18 Bank personal trusts and
estates 239.1 241.8
19 Life insurance companies 1,950.2 1,969.2
20 Other insurance companies 524.0 528.1
21 Private pension funds 818.2 827.1
22 State and local government
retirement funds 795.5 810.2
23 Money market mutual funds 1,296.7 1,403.8
24 Mutual funds 1,099.7 1,113.5
25 Closed-end funds 102.2 100.0
26 Government-sponsored
enterprises 1,612.1 1,677.3
27 Federally related mortgage
pools 2,491.7 2,534.2
28 Asset-backed securities
issuers (ABSs) 1,594.5 1,650.9
29 Finance companies 812.6 809.3
30 Mortgage companies 35.9 36.2
31 Real estate investment trusts
(REITs) 36.6 37.6
32 Brokers and dealers 223.6 312.3
33 Funding corporations 327.5 370.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 27,416.8 27,859.5
Other liabilities
35 Official foreign exchange 45.3 42.2
36 Special drawing rights
certificates 2.2 2.2
37 Treasury currency 23.2 22.9
38 Foreign deposits 836.7 846.7
39 Net interbank liabilities 188.2 121.8
40 Checkable deposits and currency 1,413.5 1,384.1
41 Small time and savings deposits 2,862.2 2,965.4
42 Large time deposits 1,054.7 1,078.3
43 Money market fund shares 1,812.1 1,994.7
44 Security repurchase agreements 1,194.3 1,197.5
45 Mutual fund shares 4,456.3 4,030.6
46 Security credit 817.6 784.5
47 Life insurance reserves 819.4 817.0
48 Pension fund reserves 9,054.1 8,590.3
49 Trade payables 2,383.8 2,379.5
50 Taxes payable 184.8 198.6
51 Investment in bank personal
trusts 1,039.0 949.2
52 Miscellaneous 8,905.8 8,963.0
53 Total liabilities 64,510.0 64,228.1
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.6 21.4
55 Corporate equities 17,026.1 14,878.4
56 Household equity in noncorporate
business 4,944.9 5,056.0
Liabilities not identified as
assets (-)
57 Treasury currency -8.5 -9.1
58 Foreign deposits 668.1 682.1
59 Net interbank transactions -4.1 1.3
60 Security repurchase agreements 372.2 370.8
61 Taxes payable 96.9 87.2
62 Miscellaneous -3,282.3 -3,530.1
Floats not included in
assets (-)
63 Federal government checkable
deposits -3.0 -22.3
64 Other checkable deposits 24.0 21.1
65 Trade credit 128.1 76.3
66 Total identified to sectors as
assets 88,511.2 86,506.7
(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 1998 1999 2000 2000
Sept.
1 Industrial production(1) 134.0 139.6 147.5 149.0
Market groups
2 Products, total 127.2 131.2 136.2 136.7
3 Final, total 129.3 133.3 138.8 139.3
4 Consumer goods 118.4 120.8 123.0 123.8
5 Equipment 147.1 153.8 166.1 168.3
6 Intermediate 121.0 125.1 128.7 128.6
7 Materials 145.7 154.5 167.8 171.3
Industry groups
8 Manufacturing 138.2 144.8 153.6 155.1
9 Capacity utilization,
manufacturing
(percent)(2) 81.3 80.5 81.3 81.7
10 Construction
contracts(3) 122.6 135.1(r) 142.1(r) 143.0
11 Nonagricultural
employment,
total(4) 123.5 126.3 128.9 129.5(r)
12 Goods-producing, total 103.0 103.3 104.0 104.1(r)
13 Manufacturing, total 99.0 97.6 97.0 97.0(r)
14 Manufacturing,
production
workers 100.0 98.4 97.6 97.0(r)
15 Service-producing 130.0 133.7 136.8 137.6(r)
16 Personal income, total 186.5 196.6 209.0 212.5
17 Wages and salary
disbursements 184.6 196.9 210.1 212.7
18 Manufacturing 152.3 157.4 164.2 165.1
19 Disposable personal
income(5) 182.7 191.9 202.0 205.2
20 Retail sales(5) 178.4 194.7 210.0 212.7
Prices(6)
21 Consumer (1982-84=100) 163.0 166.6 172.2 173.7
22 Producer finished goods
(1982=100) 130.7 133.0 138.0 139.4
Measure 2000 2001
Oct. Nov. Dec. Jan.
1 Industrial production(1) 148.7 148.2 147.3 146.0
Market groups
2 Products, total 136.3 136.3 136.0 135.0
3 Final, total 138.8 138.8 139.0 137.8
4 Consumer goods 122.7 122.4 123.1 121.8
5 Equipment 169.1 169.9 168.9 168.0
6 Intermediate 128.7 128.5 126.8 126.7
7 Materials 171.1 169.9 167.8 165.9
Industry groups
8 Manufacturing 154.9 154.1 152.6 151.3
9 Capacity utilization,
manufacturing
(percent)(2) 81.2 80.5 79.3 78.4
10 Construction
contracts(3) 151.0 143.0 140.0(r) 152.0
11 Nonagricultural
employment,
total(4) 129.6(r) 129.7(r) 129.8(r) 129.9(r)
12 Goods-producing, total 104.2(r) 104.2(r) 104.1(r) 103.9
13 Manufacturing, total 96.9(r) 96.8(r) 96.6(r) 96.1(r)
14 Manufacturing,
production
workers 96.9(r) 96.6(r) 96.2(r) 95.7(r)
15 Service-producing 137.7(r) 137.9(r) 138.0(r) 138.2(r)
16 Personal income, total 212.1 212.5 213.5 214.8
17 Wages and salary
disbursements 214.0 214.6 215.2 216.8
18 Manufacturing 166.6 166.9 165.5 165.8
19 Disposable personal
income(5) 204.4 204.6 205.5 206.6(r)
20 Retail sales(5) 212.5 211.3 211.6 214.4
Prices(6)
21 Consumer (1982-84=100) 174.0 174.1 174.0 175.1
22 Producer finished goods
(1982=100) 140.1 140.0 139.7 141.2
Measure 2001
Feb.(r) Mar.(r) Apr. May(p)
1 Industrial production(1) 145.4 145.1 144.2 143.1
Market groups
2 Products, total 134.6 134.7 133.7 132.7
3 Final, total 137.7 138.0 136.9 135.9
4 Consumer goods 122.3 122.5 121.7 120.8
5 Equipment 166.2 167.1 165.1 164.1
6 Intermediate 125.5 124.6 124.1 123.3
7 Materials 165.0 163.9 163.2 161.8
Industry groups
8 Manufacturing 150.7 150.1 149.1 148.1
9 Capacity utilization,
manufacturing
(percent)(2) 77.9 77.4 76.7 76.0
10 Construction
contracts(3) 148.0 138.0 142.0 139.0
11 Nonagricultural
employment,
total(4) 130.1 130.1 129.9 129.9
12 Goods-producing, total 103.9 103.8 103.0 102.6
13 Manufacturing, total 95.8 95.4 94.8 94.1
14 Manufacturing,
production
workers 95.1 94.6 93.9 93.1
15 Service-producing 138.4 138.5 138.5 138.6
16 Personal income, total 215.9 216.9 217.4 217.8
17 Wages and salary
disbursements 218.3 219.4 220.1 220.5
18 Manufacturing 166.2 166.4 165.8 164.9
19 Disposable personal
income(5) 207.6 208.6 209.1 209.5
20 Retail sales(5) 213.9 213.2 214.9 n.a.
Prices(6)
21 Consumer (1982-84=100) 175.8 176.2 176.9 177.7
22 Producer finished goods
(1982=100) 141.5 141.0 141.7 142.5
(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 December 2000. The recent
annual revision is described in an article in the March 2001 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 1998 1999 2000 2000(r)
Oct.
HOUSEHOLD SURVEY
DATA(1)
1 Civilian labor
force(2) 137,673 139,368 140,863 141,000
Employment
2 Nonagricultural
industries(3) 128,085 130,207 131,903 132,223
3 Agriculture 3,378 3,281 3,305 3,241
Unemployment
4 Number 6,210 5,880 5,655 5,536
5 Rate (percent of
civilian labor
force) 4.5 4.2 4.0 3.9
ESTABLISHMENT
SURVEY DATA
6 Nonagricultural
payroll
employment(4) 125,865 128,786 131,417 132,145
7 Manufacturing 18,805 18,543 18,437 18,404
8 Mining 590 535 538 551
9 Contract
construction 6,020 6,404 6,687 6,758
10 Transportation and
public
utilities 6,611 6,826 6,993 7,076
11 Trade 29,095 29,712 30,191 30,439
12 Finance 7,389 7,569 7,618 7,569
13 Service 37,533 39,027 40,384 40,767
14 Government 19,823 20,170 20,570 20,581
Category 2000(r) 2001
Nov. Dec. Jan.(r) Feb.(r)
HOUSEHOLD SURVEY
DATA(1)
1 Civilian labor
force(2) 141,136 141,489 141,955 141,751
Employment
2 Nonagricultural
industries(3) 132,302 132,562 132,819 132,680
3 Agriculture 3,176 3,274 3,179 3,135
Unemployment
4 Number 5,658 5,653 5,956 5,936
5 Rate (percent of
civilian labor
force) 4.0 4.0 4.2 4.2
ESTABLISHMENT
SURVEY DATA
6 Nonagricultural
payroll
employment(4) 132,279 132,367 132,428 132,595
7 Manufacturing 18,382 18,349 18,257 18,192
8 Mining 548 548 550 555
9 Contract
construction 6,781 6,791 6,826 6,880
10 Transportation and
public
utilities 7,093 7,108 7,106 7,123
11 Trade 30,465 30,474 30,482 30,536
12 Finance 7,575 7,582 7,594 7,609
13 Service 40,845 40,901 40,984 41,020
14 Government 20,590 20,614 20,629 20,680
Category 2001
Mar.(r) Apr.(r) May
HOUSEHOLD SURVEY
DATA(1)
1 Civilian labor
force(2) 141,868 141,757 141,272
Employment
2 Nonagricultural
industries(3) 132,618 132,162 131,910
3 Agriculture 3,161 3,192 3,193
Unemployment
4 Number 6,088 6,402 6,169
5 Rate (percent of
civilian labor
force) 4.3 4.5 4.4
ESTABLISHMENT
SURVEY DATA
6 Nonagricultural
payroll
employment(4) 132,654 132,472 132,453
7 Manufacturing 18,116 18,003 17,879
8 Mining 557 560 564
9 Contract
construction 6,929 6,851 6,882
10 Transportation and
public
utilities 7,127 7,119 7,131
11 Trade 30,523 30,572 30,553
12 Finance 7,618 7,626 7,648
13 Service 41,073 40,995 41,037
14 Government 20,711 20,746 20,759
(1.) Beginning January 1994, reflects redesign of current population
survey and 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
2000
Series
Q2 Q3 Q4 Q1(r)
Output (1992=100)
1 Total industry 147.1 148.4 148.1 145.5
2 Manufacturing 153.0 154.4 153.8 150.7
3 Primary processing(3) 178.6 180.3 178.7 172.6
4 Advanced processing(4) 139.0 140.3 140.2 138.5
5 Durable goods 192.9 196.7 196.5 191.6
6 Lumber and products 120.3 117.0 113.2 109.6
7 Primary metals 137.0 133.4 127.5 121.0
8 Iron and steel 136.1 130.5 121.5 114.9
9 Nonferrous 138.2 137.0 134.7 128.3
10 Industrial machinery
and equipment 249.4 257.3 261.9 256.3
11 Electrical machinery 535.1 581.1 604.0 593.7
12 Motor vehicles and
parts 175.9 170.8 159.7 147.5
13 Aerospace and
miscellaneous
transportation
equipment 92.9 93.5 94.8 94.0
14 Nondurable goods 116.7 116.2 115.3 113.6
15 Textile mill products 103.3 99.8 94.7 92.8
16 Paper and products 117.9 114.0 114.9 110.8
17 Chemicals and
products 125.8 125.4 124.5 121.9
18 Plastics materials 140.9 137.6 131.0 130.9
19 Petroleum products 118.3 117.3 116.0 115.5
20 Mining 100.0 100.6 100.3 101.8
21 Utilities 120.7 121.0 123.7 122.9
22 Electric 124.3 123.9 127.5 125.4
2000 2001
Series
Q2 Q3 Q4 Q1
Capacity (percent of
1992 output)
1 Total industry 178.1 180.1 182.1 183.7
2 Manufacturing 186.9 189.2 191.5 193.5
3 Primary processing(3) 206.9 211.2 216.0 220.0
4 Advanced processing(4) 174.1 175.2 176.2 177.2
5 Durable goods 233.3 238.3 243.6 248.1
6 Lumber and products 147.5 147.9 148.4 148.7
7 Primary metals 153.3 153.4 153.5 153.5
8 Iron and steel 153.1 153.4 153.6 153.6
9 Nonferrous 153.4 153.4 153.4 153.5
10 Industrial machinery
and equipment 304.5 311.1 317.3 322.5
11 Electrical machinery 591.7 639.1 694.1 741.7
12 Motor vehicles and
parts 208.2 209.2 210.1 210.9
13 Aerospace and
miscellaneous
transportation
equipment 130.7 130.4 130.2 130.0
14 Nondurable goods 144.1 144.4 144.6 144.7
15 Textile mill products 123.9 123.3 122.8 122.0
16 Paper and products 137.2 137.5 137.9 138.3
17 Chemicals and
products 163.0 164.1 164.8 165.0
18 Plastics materials 151.6 151.9 152.3 152.7
19 Petroleum products 123.2 123.2 123.1 123.1
20 Mining 116.5 116.3 115.8 115.3
21 Utilities 132.3 133.4 134.5 135.7
22 Electric 130.9 132.3 133.8 135.3
2000 2001
Series
Q2 Q3 Q4 Q1(r)
Capacity utilization rate
(percent)(2)
1 Total industry 82.6 82.4 81.3 79.2
2 Manufacturing 81.9 81.7 80.3 77.9
3 Primary processing(3) 86.4 85.4 82.7 78.4
4 Advanced processing(4) 79.8 80.1 79.5 78.2
5 Durable goods 82.7 82.5 80.7 77.2
6 Lumber and products 81.6 79.1 76.3 73.7
7 Primary metals 89.4 87.0 83.1 78.8
8 Iron and steel 88.9 85.1 79.1 74.8
9 Nonferrous 90.1 89.3 87.8 83.6
10 Industrial machinery
and equipment 81.9 82.7 82.5 79.5
11 Electrical machinery 90.4 90.9 87.5 80.1
12 Motor vehicles and
parts 84.5 81.7 76.0 69.9
13 Aerospace and
miscellaneous
transportation
equipment 71.7 71.7 72.8 72.3
14 Nondurable goods 80.9 80.5 79.7 78.5
15 Textile mill products 83.4 80.9 77.1 76.1
16 Paper and products 85.9 82.9 83.3 80.1
17 Chemicals and
products 77.2 76.4 75.5 73.9
18 Plastics materials 93.0 90.5 86.0 85.7
19 Petroleum products 96.0 95.3 94.3 93.8
20 Mining 85.8 86.6 86.6 88.2
21 Utilities 91.2 90.7 92.0 90.6
22 Electric 94.9 93.7 95.3 92.7
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
4 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) 2000
Series
High Low May Dec.
Capacity utilization rate
(percent)(2)
1 Total industry 85.4 78.1 82.7 80.6
2 Manufacturing 85.7 76.6 81.9 79.3
3 Primary processing(3) 88.9 77.7 86.4 80.9
4 Advanced processing(4) 84.2 76.1 79.9 79.0
5 Durable goods 84.6 73.1 82.7 79.5
6 Lumber and products 93.6 75.5 81.7 75.0
7 Primary metals 92.7 73.7 89.2 82.2
8 Iron and steel 95.2 71.8 88.8 77.2
9 Nonferrous 89.3 74.2 89.9 88.2
10 Industrial machinery
and equipment 85.4 72.3 82.0 82.1
11 Electrical machinery 84.0 75.0 90.2 85.5
12 Motor vehicles and
parts 89.1 55.9 85.3 72.1
13 Aerospace and
miscellaneous
transportation
equipment 87.3 79.2 70.6 73.3
14 Nondurable goods 87.3 80.7 80.9 78.9
15 Textile mill products 90.4 77.7 82.8 77.1
16 Paper and products 93.5 85.0 84.9 81.7
17 Chemicals and
products 86.2 79.3 77.5 74.5
18 Plastics materials 97.0 74.8 93.9 79.8
19 Petroleum products 88.5 85.1 96.5 93.2
20 Mining 88.0 87.0 85.4 86.1
21 Utilities 92.6 83.4 91.9 95.7
22 Electric 95.0 87.1 95.7 97.7
2001
Series
Jan. Feb.(r) Mar.(r) Apr. May(p)
1 Total industry 79.7 79.2 78.8 78.2 77.4
2 Manufacturing 78.4 77.9 77.4 76.7 76.0
3 Primary processing(3) 79.2 78.6 77.5 77.0 76.3
4 Advanced processing(4) 78.6 78.1 77.9 77.1 76.5
5 Durable goods 77.9 77.0 76.8 75.8 75.2
6 Lumber and products 72.9 73.3 74.8 74.3 75.2
7 Primary metals 80.7 79.0 76.7 78.0 76.1
8 Iron and steel 75.5 75.2 73.8 76.2 74.3
9 Nonferrous 86.9 83.6 80.2 80.1 78.4
10 Industrial machinery
and equipment 80.5 79.1 78.9 77.1 75.8
11 Electrical machinery 82.9 80.0 77.3 74.8 73.0
12 Motor vehicles and
parts 65.8 69.9 74.1 73.5 75.2
13 Aerospace and
miscellaneous
transportation
equipment 72.5 71.9 72.5 72.3 72.2
14 Nondurable goods 78.8 78.8 77.9 77.7 76.9
15 Textile mill products 76.0 76.0 76.2 75.7 75.4
16 Paper and products 81.0 81.6 77.8 81.9 80.4
17 Chemicals and
products 73.8 74.3 73.4 72.1 71.2
18 Plastics materials 83.9 88.2 85.0 83.3 81.8
19 Petroleum products 93.5 94.6 93.4 94.6 93.3
20 Mining 87.5 87.9 89.3 89.3 89.0
21 Utilities 91.7 89.8 90.3 89.1 87.3
22 Electric 94.0 91.6 92.4 92.0 89.2
(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 December 2000. The
recent annual revision is described in an article in the March 2001
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
2000
1992
Group SIC(2) pro- 2000
code por- avg.
tion May
Index
(1992=
100)
MAJOR MARKETS
1 Total index 100.0 147.5 147.2
2 Products 60.5 136.2 135.5
3 Final products 46.3 138.8 137.5
4 Consumer goods, total 29.1 123.0 123.5
5 Durable consumer
goods 6.1 160.8 163.8
6 Automotive products 2.6 153.2 157.9
7 Autos and trucks 1.7 166.9 175.7
8 Autos, consumer .9 114.0 119.7
9 Trucks,
consumer .7 221.6 233.7
10 Auto parts and
allied goods .9 131.7 130.6
11 Other 3.5 167.1 168.5
12 Appliances,
televisions,
and air
conditioners 1.0 332.6 334.6
13 Carpeting and .8 129.7 130.8
furniture
14 Miscellaneous
home good 1.6 120.4 121.6
15 Nondurable consumer
goods 23.0 114.2 114.1
16 Foods and tobacco 10.3 110.7 110.3
17 Clothing 2.4 85.0 86.8
18 Chemical products 4.5 137.0 138.5
19 Paper products 2.9 111.1 109.0
20 Energy 2.9 116.3 116.0
21 Fuels .8 113.0 113.1
22 Residential
utilities 2.1 117.9 117.1
23 Equipment 17.2 166.1 163.1
24 Business equipment 13.2 194.2 191.6
25 Information process-
ing and related 5.4 312.2 302.5
26 Computer and office
equipment 1.1 1,157.6 1,087.8
27 Industrial 4.0 144.6 143.4
28 Transit 2.5 127.7 129.0
29 Autos and trucks 1.2 145.6 153.9
30 Other 1.3 145.7 145.8
31 Defense and space
equipment 3.3 76.2 75.5
32 Oil and gas well
drilling .6 131.8 130.3
33 Manufactured homes .2 116.2 122.9
34 Intermediate products,
total 14.2 128.7 129.4
35 Construction supplies 5.3 143.2 143.1
36 Business supplies 8.9 120.1 121.3
37 Materials 39.5 167.8 168.4
38 Durable goods materials 20.8 227.6 227.6
39 Durable consumer parts 4.0 165.3 169.9
40 Equipment parts 7.6 478.3 466.8
41 Other 9.2 134.6 135.9
42 Basic metal materials 3.1 128.7 130.8
43 Nondurable goods
materials 8.9 113.8 115.7
44 Textile materials 1.1 97.9 100.9
45 Paper materials 1.8 115.8 117.5
46 Chemical materials 3.9 117.0 119.8
47 Other 2.1 113.0 112.4
48 Energy materials 9.7 103.4 103.3
49 Primary energy 6.3 98.1 98.3
50 Converted fuel
materials 3.3 114.3 113.7
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 97.1 147.2 146.7
52 Total excluding motor
vehicles and
parts 95.1 146.3 145.8
53 Total excluding computer
and office
equipment 98.2 140.4 140.4
54 Consumer goods excluding
autos and
trucks 27.4 120.6 120.7
55 Consumer goods excluding
energy 26.2 123.9 124.4
56 Business equipment exclud-
ing autos and
trucks 12.0 200.1 196.1
57 Business equipment exclud-
ing computer
and office
equipment 12.1 158.4 157.3
58 Materials excluding energy 29.8 188.5 189.3
MAJOR INDUSTRIES
59 Total index ... 100.0 147.5 147.2
60 Manufacturing ... 85.4 153.6 153.1
61 Primary processing ... 26.5 178.0 178.7
62 Advanced processing ... 58.9 139.3 139.1
63 Durable goods ... 45.0 193.4 193.0
64 Lumber and products 24 2.0 118.3 120.5
65 Furniture and fixtures 25 1.4 142.9 143.0
66 Stone, clay, and glass
products 32 2.1 134.7 134.2
67 Primary metals 33 3.1 133.7 136.7
68 Iron and steel 331,2 1.7 131.1 135.9
69 Raw steel 331PT .1 120.9 127.1
70 Nonferrous 333-6,9 1.4 136.8 137.9
71 Fabricated metal
products 34 5.0 135.6 136.2
72 Industrial machinery
and equipment 35 8.0 252.8 249.9
73 Computer and office
equipment 357 1.8 1,343.6 1,272.3
74 Electrical machinery 36 7.3 549.7 533.8
75 Transportation
equipment 37 9.5 131.0 133.6
76 Motor vehicles and
parts 371 4.9 170.5 177.6
77 Autos and light
trucks 371PT 2.6 153.0 161.1
78 Aerospace and
miscellaneous
transportation
equipment 372-6,9 4.6 93.8 92.3
79 Instruments 38 5.4 122.2 121.3
80 Miscellaneous 39 1.3 130.8 130.7
81 Nondurable goods ... 40.4 116.9 116.7
82 Foods 20 9.4 114.7 114.2
83 Tobacco products 21 1.6 95.3 95.3
84 Textile mill products 22 1.8 100.1 102.6
85 Apparel products 23 2.2 91.7 93.0
86 Paper and products 26 3.6 116.1 116.5
87 Printing and publishing 27 6.7 109.9 109.9
88 Chemicals and products 28 9.9 128.3 126.3
89 Petroleum products 29 1.4 117.1 118.9
90 Rubber and plastic
products 30 3.5 142.3 142.6
91 Leather and products 31 .3 69.8 70.5
92 Mining 6.9 100.0 99.6
93 Metal 10 .5 97.4 95.7
94 Coal 12 1.0 108.9 112.2
95 Oil and gas extraction 13 4.8 95.0 94.3
96 Stone and earth minerals 14 .6 126.4 123.9
97 Utilities ... 7.7 120.4 121.6
98 Electric 491,3PT 6.2 123.9 125.2
99 Gas 492,3PT 1.6 109.3 108.7
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehic-
les and parts ... 80.5 152.6 151.7
101 Manufacturing excluding
computer and
office
equipment ... 83.6 145.4 145.2
102 Computers, communications
equipment,
and semicon-
ductors ... 5.9 1,195.2 1,140.2
103 Manufacturing excluding
computers and
semiconduc- ... 81.1 128.3 128.4
tors
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semiconduc-
tors ... 79.5 125.1 125.4
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 2,001.9 2,860.5 2,872.7
106 Final ... 1,552.1 2,203.4 2,205.6
107 Consumer goods ... 1,049.6 1,340.0 1,349.8
108 Equipment ... 502.5 865.7 862.2
109 Intermediate ... 449.9 656.7 666.0
2000
Group
June July Aug. Sept.
Index (1992=100)
MAJOR MARKETS
1 Total index 147.9 147.6 148.6 149.0
2 Products 136.0 135.8 136.6 136.7
3 Final products 138.3 138.1 139.2 139.3
4 Consumer goods, total 124.2 122.9 123.8 123.8
5 Durable consumer
goods 164.4 158.7 160.0 162.8
6 Automotive products 157.8 149.4 153.8 156.7
7 Autos and trucks 174.8 160.5 169.8 172.7
8 Autos, consumer 118.1 113.6 120.3 120.5
9 Trucks,
consumer 233.2 209.8 221.8 227.1
10 Auto parts and
allied goods 131.6 131.6 129.1 132.1
11 Other 169.8 166.7 165.2 167.7
12 Appliances,
televisions,
and air
conditioners 348.2 322.3 325.0 340.5
13 Carpeting and
furniture 130.1 131.5 128.6 131.9
14 Miscellaneous
home good 120.5 121.3 119.7 118.1
15 Nondurable consumer
goods 114.8 114.5 115.2 114.7
16 Foods and tobacco 110.8 111.0 111.4 110.5
17 Clothing 85.1 85.6 84.2 83.1
18 Chemical products 139.3 137.4 139.4 138.4
19 Paper products 111.6 112.4 112.4 112.4
20 Energy 117.0 114.9 117.1 118.4
21 Fuels 113.4 112.6 113.1 115.8
22 Residential
utilities 118.5 115.6 119.0 119.1
23 Equipment 164.3 166.3 167.9 168.3
24 Business equipment 192.8 195.0 197.8 199.5
25 Information process-
ing and related 307.0 313.9 322.1 327.2
26 Computer and office
equipment 1,130.8 1,182.8 1,229.0 1,264.1
27 Industrial 143.8 144.4 147.7 146.5
28 Transit 130.1 127.6 126.8 127.7
29 Autos and trucks 152.9 141.5 142.8 144.2
30 Other 142.8 148.1 144.8 149.3
31 Defense and space
equipment 76.3 77.9 76.1 73.7
32 Oil and gas well
drilling 130.8 136.2 137.1 132.8
33 Manufactured homes 121.9 116.8 115.5 109.3
34 Intermediate products,
total 129.0 128.7 128.8 128.6
35 Construction supplies 143.4 143.8 142.7 143.1
36 Business supplies 120.5 119.8 120.6 120.0
37 Materials 169.4 169.0 170.5 171.3
38 Durable goods materials 230.3 230.5 233.8 235.7
39 Durable consumer parts 165.7 158.3 168.3 169.0
40 Equipment parts 486.2 499.9 505.7 512.1
41 Other 135.9 135.3 134.7 135.5
42 Basic metal materials 130.7 128.5 127.5 129.2
43 Nondurable goods
materials 115.2 113.9 112.8 112.7
44 Textile materials 101.7 97.9 99.3 95.9
45 Paper materials 118.1 114.9 112.8 113.8
46 Chemical materials 118.4 117.0 116.8 116.3
47 Other 112.3 113.7 110.2 112.0
48 Energy materials 103.1 102.9 104.2 104.3
49 Primary energy 98.4 98.7 98.9 98.5
50 Converted fuel
materials 112.4 110.8 115.1 116.6
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 147.5 147.5 148.4 148.7
52 Total excluding motor
vehicles and
parts 146.5 146.9 147.4 147.7
53 Total excluding computer
and office
equipment 141.0 140.5 141.4 141.6
54 Consumer goods excluding
autos and
trucks 121.5 120.9 121.3 121.2
55 Consumer goods excluding
energy 125.0 123.9 124.5 124.4
56 Business equipment exclud-
ing autos and
trucks 197.6 201.5 204.5 206.3
57 Business equipment exclud-
ing computer
and office
equipment 157.6 158.6 160.3 161.2
58 Materials excluding energy 190.7 190.3 191.8 193.0
MAJOR INDUSTRIES
59 Total index 147.9 147.6 148.6 149.0
60 Manufacturing 153.8 153.7 154.6 155.1
61 Primary processing 180.1 179.4 180.3 181.2
62 Advanced processing 139.4 139.5 140.5 140.8
63 Durable goods 194.6 194.7 196.9 198.4
64 Lumber and products 118.7 118.6 115.5 116.8
65 Furniture and fixtures 141.9 142.6 143.8 146.6
66 Stone, clay, and glass
products 134.6 136.3 136.1 136.5
67 Primary metals 136.4 133.9 132.4 133.9
68 Iron and steel 135.5 129.9 129.7 131.9
69 Raw steel 128.2 126.4 123.9 117.7
70 Nonferrous 137.6 138.8 135.7 136.5
71 Fabricated metal
products 135.7 136.1 136.3 136.0
72 Industrial machinery
and equipment 250.9 253.9 257.9 260.0
73 Computer and office
equipment 1,316.2 1,370.4 1,421.6 1,464.2
74 Electrical machinery 555.0 571.2 580.0 592.2
75 Transportation
equipment 133.5 128.0 132.4 132.4
76 Motor vehicles and
parts 176.1 163.1 173.9 175.5
77 Autos and light
trucks 160.1 147.8 156.4 158.8
78 Aerospace and
miscellaneous
transportation
equipment 93.6 94.9 93.5 92.1
79 Instruments 122.2 122.6 123.3 123.7
80 Miscellaneous 130.5 132.1 130.8 130.9
81 Nondurable goods 116.7 116.3 116.3 116.0
82 Foods 114.9 115.0 115.1 114.6
83 Tobacco products 93.8 95.8 96.6 94.5
84 Textile mill products 103.1 101.4 99.4 98.4
85 Apparel products 91.2 92.0 90.7 89.5
86 Paper and products 118.8 114.9 113.3 113.7
87 Printing and publishing 109.1 110.0 110.4 110.9
88 Chemicals and products 125.9 124.8 125.9 125.4
89 Petroleum products 118.8 117.0 117.6 117.4
90 Rubber and plastic
products 143.5 144.4 142.1 141.9
91 Leather and products 69.3 70.0 68.8 69.8
92 Mining 100.4 100.5 101.0 100.4
93 Metal 97.5 92.9 95.8 99.3
94 Coal 113.6 110.3 109.3 107.0
95 Oil and gas extraction 94.8 95.7 96.3 95.7
96 Stone and earth minerals 127.7 124.4 125.0 123.7
97 Utilities 121.7 119.1 122.1 121.7
98 Electric 124.8 121.1 126.1 124.7
99 Gas 110.5 111.0 108.4 110.5
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehic-
les and parts 152.6 153.2 153.5 153.9
101 Manufacturing excluding
computer and
office
equipment 145.8 145.4 146.2 146.5
102 Computers, communications
equipment,
and semicon-
ductors 1,193.1 1,248.0 1,281.6 1,310.3
103 Manufacturing excluding
computers and
semiconduc-
tors 128.4 127.7 128.2 128.4
104 Manufacturing excluding
computers,
communicat-
ions equip-
ment, and
semiconduc-
tors 125.3 124.5 124.9 125.0
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,883.5 2,865.7 2,882.9 2,889.1
106 Final 2,218.6 2,202.8 2,220.5 2,228.1
107 Consumer goods 1,357.8 1,338.7 1,348.7 1,353.7
108 Equipment 867.3 872.8 880.8 883.3
109 Intermediate 663.9 661.8 661.5 660.2
2000 2001
Group
Oct. Nov. Dec. Jan.
Index (1992=100)
MAJOR MARKETS
1 Total index 148.7 148.2 147.3 146.0
2 Products 136.3 136.3 136.0 135.0
3 Final products 138.8 138.8 139.0 137.8
4 Consumer goods, total 122.7 122.4 123.1 121.8
5 Durable consumer
goods 157.3 154.3 153.4 148.9
6 Automotive products 148.0 143.6 140.7 133.8
7 Autos and trucks 159.1 153.0 144.1 136.2
8 Autos, consumer 107.8 103.0 94.3 99.4
9 Trucks,
consumer 212.0 204.3 194.7 175.5
10 Auto parts and
allied goods 130.2 128.2 133.8 128.4
11 Other 165.4 163.7 164.7 162.7
12 Appliances,
televisions,
and air
conditioners 332.5 332.7 341.7 332.0
13 Carpeting and
furniture 129.8 125.4 127.4 123.9
14 Miscellaneous
home good 117.5 117.1 115.5 116.5
15 Nondurable consumer
goods 114.5 114.6 115.7 114.9
16 Foods and tobacco 110.4 110.7 110.1 110.3
17 Clothing 82.7 83.2 82.4 82.6
18 Chemical products 139.0 138.5 139.0 139.1
19 Paper products 113.8 112.5 112.2 113.7
20 Energy 115.5 117.3 126.1 119.0
21 Fuels 113.0 115.5 112.3 112.0
22 Residential
utilities 116.2 117.6 134.5 122.8
23 Equipment 169.1 169.9 168.9 168.0
24 Business equipment 200.0 200.6 199.2 197.4
25 Information process-
ing and related 332.3 336.7 335.9 337.4
26 Computer and office
equipment 1,286.4 1,305.0 1,318.3 1,310.6
27 Industrial 146.9 147.4 145.8 145.7
28 Transit 121.6 121.8 117.4 111.7
29 Autos and trucks 131.4 130.4 122.0 115.6
30 Other 154.2 148.6 153.5 149.3
31 Defense and space
equipment 75.3 77.0 77.5 78.5
32 Oil and gas well
drilling 136.5 138.9 139.1 146.7
33 Manufactured homes 98.8 90.9 83.5 73.5
34 Intermediate products,
total 128.7 128.5 126.8 126.7
35 Construction supplies 142.3 141.6 140.6 140.7
36 Business supplies 120.7 120.7 118.5 118.4
37 Materials 171.1 169.9 167.8 165.9
38 Durable goods materials 235.0 232.9 230.3 226.6
39 Durable consumer parts 168.5 161.8 157.6 146.1
40 Equipment parts 515.9 521.4 522.3 517.5
41 Other 133.7 131.8 129.6 130.1
42 Basic metal materials 125.9 124.4 123.6 121.2
43 Nondurable goods
materials 113.4 110.7 108.6 107.5
44 Textile materials 94.0 89.5 90.3 91.0
45 Paper materials 117.2 113.4 109.4 110.3
46 Chemical materials 115.9 113.7 109.8 108.5
47 Other 114.0 111.9 113.9 111.0
48 Energy materials 103.9 105.4 104.5 104.4
49 Primary energy 97.8 99.3 98.6 100.3
50 Converted fuel
materials 117.2 118.7 117.3 111.8
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 148.8 148.4 147.8 146.6
52 Total excluding motor
vehicles and
parts 147.8 147.7 147.2 146.5
53 Total excluding computer
and office
equipment 141.2 140.8 139.9 138.6
54 Consumer goods excluding
autos and
trucks 120.7 120.6 121.9 120.8
55 Consumer goods excluding
energy 123.6 122.9 122.5 122.0
56 Business equipment exclud-
ing autos and
trucks 208.5 209.4 208.9 207.7
57 Business equipment exclud-
ing computer
and office
equipment 161.2 161.5 159.9 158.4
58 Materials excluding energy 192.8 190.4 187.8 185.1
MAJOR INDUSTRIES
59 Total index 148.7 148.2 147.3 146.0
60 Manufacturing 154.9 154.1 152.6 151.3
61 Primary processing 181.1 178.8 176.1 173.5
62 Advanced processing 140.5 140.5 139.6 139.0
63 Durable goods 197.6 196.7 195.1 192.3
64 Lumber and products 114.8 113.2 111.5 108.3
65 Furniture and fixtures 147.2 145.0 145.3 144.1
66 Stone, clay, and glass
products 137.3 134.6 132.4 135.2
67 Primary metals 129.0 127.3 126.3 124.0
68 Iron and steel 123.7 122.0 118.7 116.0
69 Raw steel 115.6 106.3 104.6 108.3
70 Nonferrous 135.3 133.6 135.2 133.4
71 Fabricated metal
products 136.0 134.7 132.9 133.5
72 Industrial machinery
and equipment 261.5 261.9 262.3 258.4
73 Computer and office
equipment 1,487.4 1,502.8 1,508.3 1,497.4
74 Electrical machinery 597.4 604.4 610.2 604.3
75 Transportation
equipment 129.2 126.8 122.8 116.0
76 Motor vehicles and
parts 167.2 160.1 151.8 138.6
77 Autos and light
trucks 145.8 140.1 131.5 125.9
78 Aerospace and
miscellaneous
transportation
equipment 93.6 95.4 95.3 94.3
79 Instruments 123.5 124.6 123.1 125.0
80 Miscellaneous 131.1 130.2 129.4 130.4
81 Nondurable goods 116.3 115.5 114.1 114.0
82 Foods 114.8 115.0 114.2 114.1
83 Tobacco products 93.7 93.1 94.2 95.2
84 Textile mill products 96.7 92.8 94.5 93.0
85 Apparel products 89.2 89.2 88.2 88.9
86 Paper and products 117.1 114.7 112.7 111.8
87 Printing and publishing 111.6 111.2 109.2 109.6
88 Chemicals and products 125.8 124.8 122.9 121.8
89 Petroleum products 116.5 116.9 114.7 115.1
90 Rubber and plastic
products 141.3 139.1 137.3 138.5
91 Leather and products 68.6 68.9 66.9 67.1
92 Mining 100.1 101.1 99.6 101.0
93 Metal 96.3 93.7 99.5 94.6
94 Coal 110.2 108.6 106.1 115.2
95 Oil and gas extraction 95.1 96.6 95.2 96.1
96 Stone and earth minerals 124.6 123.2 119.3 121.7
97 Utilities 120.0 121.9 129.1 124.0
98 Electric 124.2 127.3 131.2 126.7
99 Gas 105.8 104.5 120.2 113.7
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehic-
les and parts 154.3 153.8 152.7 152.2
101 Manufacturing excluding
computer and
office
equipment 146.2 145.4 143.9 142.7
102 Computers, communications
equipment,
and semicon-
ductors 1,334.8 1,358.1 1,368.9 1,351.7
103 Manufacturing excluding
computers and
semiconduc- 128.0 127.1 125.6 124.7
tors
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semiconduc-
tors 124.6 123.6 122.1 121.1
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,867.4 2,863.2 2,850.2 2,818.1
106 Final 2,205.4 2,203.7 2,198.2 2,167.1
107 Consumer goods 1,334.7 1,331.2 1,332.8 1,312.2
108 Equipment 880.9 883.3 874.9 864.8
109 Intermediate 661.0 658.6 651.2 649.9
2001
Group
Feb.[r] Mar.[r] Apr. May(p)
Index (1992=100)
MAJOR MARKETS
1 Total index 145.4 145.1 144.2 143.1
2 Products 134.6 134.7 133.7 132.7
3 Final products 137.7 138.0 136.9 135.9
4 Consumer goods, total 122.3 122.5 121.7 120.8
5 Durable consumer
goods 150.8 153.7 152.9 154.6
6 Automotive products 138.2 145.2 144.5 148.7
7 Autos and trucks 143.5 154.9 154.9 162.4
8 Autos, consumer 100.3 104.0 102.7 105.2
9 Trucks,
consumer 188.6 207.1 208.2 220.3
10 Auto parts and
allied goods 128.7 129.4 127.9 127.4
11 Other 162.2 161.0 160.1 159.2
12 Appliances,
televisions,
and air
conditioners 322.5 319.2 321.0 320.5
13 Carpeting and
furniture 128.2 127.1 124.7 122.1
14 Miscellaneous
home good 115.4 115.0 114.3 114.6
15 Nondurable consumer
goods 115.3 114.9 114.1 112.7
16 Foods and tobacco 110.7 110.0 109.4 108.6
17 Clothing 82.8 82.4 81.3 80.6
18 Chemical products 141.5 141.5 139.2 136.6
19 Paper products 111.1 110.4 111.5 109.9
20 Energy 119.2 119.6 118.8 116.8
21 Fuels 114.7 113.7 116.1 114.2
22 Residential
utilities 121.3 122.6 119.7 117.6
23 Equipment 166.2 167.1 165.1 164.1
24 Business equipment 195.3 195.9 193.1 191.7
25 Information process-
ing and related 330.6 328.2 326.5 323.1
26 Computer and office
equipment 1,307.0 1,304.3 1,299.1 1,291.5
27 Industrial 141.4 142.0 138.9 136.6
28 Transit 114.4 117.8 116.6 117.8
29 Autos and trucks 120.9 129.0 126.6 130.0
30 Other 153.9 153.6 148.4 148.2
31 Defense and space
equipment 76.7 78.0 78.1 78.0
32 Oil and gas well
drilling 147.9 150.7 151.2 152.6
33 Manufactured homes 81.9 83.2 81.0 82.0
34 Intermediate products,
total 125.5 124.6 124.1 123.3
35 Construction supplies 139.9 140.7 139.2 138.8
36 Business supplies 117.0 115.1 115.1 114.1
37 Materials 165.0 163.9 163.2 161.8
38 Durable goods materials 225.2 223.7 221.8 220.1
39 Durable consumer parts 149.9 152.1 151.6 151.6
40 Equipment parts 514.9 509.5 501.0 497.2
41 Other 127.2 125.8 125.3 123.9
42 Basic metal materials 118.3 114.8 116.2 113.2
43 Nondurable goods
materials 107.2 104.6 105.8 104.6
44 Textile materials 87.7 87.5 87.6 86.2
45 Paper materials 112.4 106.0 111.0 109.7
46 Chemical materials 108.2 105.9 104.9 103.8
47 Other 110.2 109.0 112.8 111.5
48 Energy materials 103.9 105.0 104.3 103.4
49 Primary energy 99.3 100.3 100.2 99.5
50 Converted fuel
materials 113.1 114.0 111.8 110.2
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 145.9 145.2 144.4 143.0
52 Total excluding motor
vehicles and
parts 145.4 144.6 143.7 142.4
53 Total excluding computer
and office
equipment 138.1 137.8 137.0 135.9
54 Consumer goods excluding
autos and
trucks 121.1 120.7 119.9 118.5
55 Consumer goods excluding
energy 122.6 122.7 122.0 121.2
56 Business equipment exclud-
ing autos and
trucks 204.6 204.2 201.4 199.2
57 Business equipment exclud-
ing computer
and office
equipment 156.5 157.1 154.7 153.5
58 Materials excluding energy 184.1 182.1 181.4 179.9
MAJOR INDUSTRIES
59 Total index 145.4 145.1 144.2 143.1
60 Manufacturing 150.7 150.1 149.1 148.1
61 Primary processing 173.1 171.3 170.9 169.7
62 Advanced processing 138.4 138.3 137.1 136.1
63 Durable goods 191.1 191.4 189.7 188.8
64 Lumber and products 109.1 111.3 110.6 112.1
65 Furniture and fixtures 143.8 143.3 141.1 139.2
66 Stone, clay, and glass
products 134.3 134.0 132.5 132.9
67 Primary metals 121.3 117.8 119.7 116.8
68 Iron and steel 115.5 113.3 116.9 113.8
69 Raw steel 109.1 109.2 101.3 100.3
70 Nonferrous 128.2 123.2 123.1 120.5
71 Fabricated metal
products 130.3 129.8 129.0 128.6
72 Industrial machinery
and equipment 255.0 255.6 250.6 247.5
73 Computer and office
equipment 1,484.2 1,477.5 1,471.6 1,462.8
74 Electrical machinery 593.7 583.2 572.2 564.9
75 Transportation
equipment 119.8 124.5 123.9 125.6
76 Motor vehicles and
parts 147.4 156.5 155.4 159.1
77 Autos and light
trucks 131.9 141.8 141.6 148.1
78 Aerospace and
miscellaneous
transportation
equipment 93.5 94.3 94.0 93.9
79 Instruments 123.3 122.8 123.6 122.9
80 Miscellaneous 127.6 127.5 127.5 125.8
81 Nondurable goods 114.0 112.6 112.3 111.2
82 Foods 115.0 114.6 113.9 113.4
83 Tobacco products 93.7 91.7 92.0 89.8
84 Textile mill products 92.7 92.7 91.8 91.1
85 Apparel products 88.7 88.4 88.2 87.4
86 Paper and products 112.8 107.7 113.4 111.5
87 Printing and publishing 107.7 106.0 106.0 104.8
88 Chemicals and products 122.6 121.2 119.0 117.4
89 Petroleum products 116.5 115.0 116.6 115.1
90 Rubber and plastic
products 137.3 136.5 134.5 134.7
91 Leather and products 69.3 67.8 65.6 65.9
92 Mining 101.4 102.9 102.7 102.3
93 Metal 91.7 89.8 90.7 87.4
94 Coal 110.7 116.6 116.8 116.5
95 Oil and gas extraction 96.7 97.6 97.4 97.1
96 Stone and earth minerals 126.4 130.5 129.9 129.3
97 Utilities 121.8 123.0 121.7 119.6
98 Electric 123.9 125.5 125.3 122.0
99 Gas 112.9 113.2 109.0 109.9
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehic-
les and parts 151.1 149.8 148.9 147.5
101 Manufacturing excluding
computer and
office
equipment 142.2 141.6 140.7 139.7
102 Computers, communications
equipment,
and semicon-
ductors 1,334.1 1,316.4 1,292.3 1,277.4
103 Manufacturing excluding
computers and
semiconduc-
tors 124.3 123.8 123.2 122.3
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semiconduc-
tors 120.8 120.4 119.8 119.0
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,819.8 2,830.0 2,812.7 2,802.8
106 Final 2,174.5 2,188.3 2,173.3 2,166.2
107 Consumer goods 1,322.8 1,329.1 1,324.9 1,320.9
108 Equipment 859.8 868.0 855.6 852.4
109 Intermediate 644.5 641.2 638.8 636.0
(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 December 2000. The
recent annual revision is described in an article in the March 2001
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
Item 1998 1999 2000
Private residential real estate
activity (thousands of units except
as noted)
NEW UNITS
1 Permits authorized 1,612 1,664 1,592
2 One-family 1,188 1,247 1,198
3 Two-family or more 425 417 394
4 Started 1,617 1,641 1,569
5 One-family 1,271 1,302 1,231
6 Two-family or more 346 339 338
7 Under construction at
end of period(1) 971 953 934
8 One-family 659 648 623
9 Two-family or more 312 305 310
10 Completed 1,474 1,605 1,574
11 One-family 1,160 1,270 1,242
12 Two-family or more 315 335 332
13 Mobile homes shipped 374 348 250
Merchant builder
activity in
one-family units
14 Number sold 886 880(r) 877(r)
15 Number for sale at
end of period(1) 300 315 301
Price of units sold
(thousands of
of dollars)(2)
16 Median 152.5 161.0(r) 169.0
17 Average 181.9 195.8 207.2(r)
EXISTING UNITS
(one-family)
18 Number sold 4,970 5,205 5,113
Price of units sold
(thousands
of dollars)(2)
19 Median 128.4 133.3 139.0
20 Average 159.1 168.3 176.2
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 703,533(r) 763,914(r) 817,130(r)
22 Private 550,754(r) 595,667(r) 641,269(r)
23 Residential 314,514(r) 349,560(r) 375,268(r)
24 Nonresidential 236,240(r) 246,107(r) 266,001(r)
25 Industrial 40,547(r) 32,794(r) 31,984(r)
buildings
26 Commercial buildings 95,760(r) 104,531(r) 116,988(r)
27 Other buildings 39,609(r) 40,906(r) 44,505(r)
28 Public utilities and
other 60,324(r) 67,876(r) 72,523(r)
29 Public 152,779(r) 168,247(r) 175,861(r)
30 Military 2,539(r) 2,142(r) 2,334(r)
31 Highway 45,251(r) 52,024(r) 52,851(r)
32 Conservation and 5,415(r) 5,995(r) 6,043(r)
development
33 Other 99,575(r) 108,086(r) 114,634(r)
2000
Item July Aug. Sept.
Private residential real estate
activity (thousands of units except
as noted)
NEW UNITS
1 Permits authorized 1,534 1,544 1,549
2 One-family 1,149 1,169 1,173
3 Two-family or more 385 375 376
4 Started 1,477 1,531 1,508
5 One-family 1,148 1,228 1,196
6 Two-family or more 329 303 312
7 Under construction at
end of period(1) 980 975 971
8 One-family 658 659 658
9 Two-family or more 322 316 313
10 Completed 1,489 1,583 1,526
11 One-family 1,181 1,235 1,181
12 Two-family or more 308 348 345
13 Mobile homes shipped 251 249 231
Merchant builder
activity in
one-family units
14 Number sold 881 839 902
15 Number for sale at
end of period(1) 304 304 301
Price of units sold
(thousands of
of dollars)(2)
16 Median 169.0 166.6 171.5
17 Average 202.2 200.2 208.3
EXISTING UNITS
(one-family)
18 Number sold 4,820 5,240 5,160
Price of units sold
(thousands
of dollars)(2)
19 Median 143.3 143.2 141.6
20 Average 177.7 183.0 178.6
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 792,253(r) 803,968(r) 815,410(r)
22 Private 627,733(r) 630,656(r) 638,850(r)
23 Residential 364,140(r) 364,039(r) 364,372(r)
24 Nonresidential 263,593(r) 266,617(r) 274,478(r)
25 Industrial 33,986(r) 32,623(r) 31,384(r)
buildings
26 Commercial buildings 116,193(r) 119,139(r) 121,349(r)
27 Other buildings 44,945(r) 45,544(r) 45,020(r)
28 Public utilities and
other 68,469(r) 69,311(r) 76,725(r)
29 Public 164,520(r) 173,311(r) 176,559(r)
30 Military 2,196(r) 2,386(r) 2,509(r)
31 Highway 49,628(r) 52,777(r) 53,923(r)
32 Conservation and 4,818(r) 5,568(r) 6,425(r)
development
33 Other 107,878(r) 112,580(r) 113,702(r)
2000
Item Oct. Nov. Dec.
Private residential real estate
activity (thousands of units except
as noted)
NEW UNITS
1 Permits authorized 1,562 1,614 1,553
2 One-family 1,212 1,203 1,187
3 Two-family or more 350 411 366
4 Started 1,527 1,559 1,532
5 One-family 1,218 1,209 1,236
6 Two-family or more 309 350 296
7 Under construction at
end of period(1) 971 969 965
8 One-family 659 655 652
9 Two-family or more 312 314 313
10 Completed 1,509 1,548 1,527
11 One-family 1,172 1,236 1,228
12 Two-family or more 337 312 299
13 Mobile homes shipped 213 196 176
Merchant builder
activity in
one-family units
14 Number sold 922 882 1,001
15 Number for sale at
end of period(1) 301 304 297
Price of units sold
(thousands of
of dollars)(2)
16 Median 176.3 174.7 162.0
17 Average 215.1 210.7 208.1
EXISTING UNITS
(one-family)
18 Number sold 5,070 5,300 4,940
Price of units sold
(thousands
of dollars)(2)
19 Median 138.6 139.5 139.7
20 Average 176.9 176.5 178.5
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 820,805(r) 826,746(r) 838,731(r)
22 Private 644,836(r) 651,066(r) 660,849(r)
23 Residential 370,256(r) 374,281(r) 379,593(r)
24 Nonresidential 274,580(r) 276,785(r) 281,256(r)
25 Industrial 32,125(r) 33,265(r) 31,398(r)
buildings
26 Commercial buildings 121,760(r) 120,587(r) 125,234(r)
27 Other buildings 45,645(r) 45,628(r) 45,707(r)
28 Public utilities and
other 75,050(r) 77,305(r) 78,917(r)
29 Public 175,969(r) 175,680(r) 177,883(r)
30 Military 1,883(r) 2,629(r) 2,107(r)
31 Highway 48,764(r) 48,858(r) 50,189(r)
32 Conservation and 6,815(r) 5,789(r) 6,339(r)
development
33 Other 118,507(r) 118,404(r) 119,248(r)
2001
Item Jan. Feb.(r) Mar.(r) Apr.
Private residential real estate activity
(thousands of units except as noted)
NEW UNITS
1 Permits authorized 1,724 1,663 1,627 1,587
2 One-family 1,283 1,228 1,209 1,218
3 Two-family or more 441 435 418 369
4 Started 1,666 1,623 1,592 1,629
5 One-family 1,336 1,288 1,208 1,293
6 Two-family or more 330 335 384 336
7 Under construction at
end of period(1) 985 989 1,002 998
8 One-family 669 675 676 679
9 Two-family or more 316 314 326 319
10 Completed 1,424 1,531 1,478 1,549
11 One-family 1,090 1,201 1,207 1,219
12 Two-family or more 334 330 271 330
13 Mobile homes shipped 164 177 179 183
Merchant builder
activity in
one-family units
14 Number sold 938 959 964 921
15 Number for sale at
end of period(1) 295 295 286 287
Price of units sold
(thousands of
of dollars)(2)
16 Median 171.3 169.1 166.7 171.0
17 Average 209.0 211.0 209.4 201.5
EXISTING UNITS
(one-family)
18 Number sold 5,200 5,190 5,430 5,220
Price of units sold
(thousands
of dollars)(2)
19 Median 137.1 138.6 143.4 143.1
20 Average 175.8 174.6 179.5 179.9
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 867,056(r) 876,171 876,111 879,231
22 Private 673,715(r) 681,826 681,176 674,043
23 Residential 386,088(r) 398,863 395,080 395,145
24 Nonresidential 287,627(r) 282,963 286,096 278,898
25 Industrial 35,878(r) 33,386 34,823 33,316
buildings
26 Commercial buildings 125,402(r) 124,568 128,792 123,707
27 Other buildings 46,567(r) 46,264 47,117 45,593
28 Public utilities and
other 79,780(r) 78,745 75,364 76,282
29 Public 193,340(r) 194,345 194,935 205,188
30 Military 2,270(r) 2,342 2,131 2,534
31 Highway 58,458(r) 58,794 60,289 61,117
32 Conservation and 7,364(r) 7,826 7,557 6,564
development
33 Other 125,248(r) 125,383 124,958 134,973
(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)
2000
2000 2001
Item May May June Sept.
CONSUMER PRICES(2)
(1982-84 = 100)
1 All items 3.2 3.6 2.4 3.3
2 Food 2.2 3.1 1.9 4.1
3 Energy items 14.6 15.8 5.6 7.9
4 All items less food and energy 2.4 2.5 2.2 2.9
5 Commodities .7 .1 -.6 1.7
6 Services 3.2 3.6 3.4 3.2
PRODUCER PRICES
(1982 = 100)
7 Finished goods 3.7 3.8 2.3 2.0
8 Consumer foods 2.8 2.6 3.3 -1.2
9 Consumer energy 17.3 14.5 6.5 6.4
10 Other consumer goods 1.8 2.1 1.3 2.4
11 Capital equipment .7 .8 1.5 1.7
Intermediate materials
12 Excluding foods and feeds 5.1 2.2 3.1 3.1
13 Excluding energy 3.2 .6 2.7 .3
Crude materials
14 Foods 5.3 5.1 -7.3 -8.2
15 Energy 38.1 31.3 163.6 20.0
16 Other 13.2 -12.0 -11.9 -8.8
Change from 3
months earlier Change from 1
(annual rate) month earlier
2000 2001 2001
Item Dec. Mar. Jan. Feb.
CONSUMER PRICES(2)
(1982-84 = 100)
1 All items 2.3 4.0 .6 .3
2 Food 2.1 4.1 .3 .5
3 Energy items 3.8 6.0 3.9 -.2
4 All items less food and energy 2.0 3.5 .3 .3
5 Commodities .0 1.4 .1 .3
6 Services 3.2 4.2 .4 .3
PRODUCER PRICES
(1982 = 100)
7 Finished goods 2.9 4.9 1.1 .1
8 Consumer foods 2.7 10.2 .9(r) .5(r)
9 Consumer energy 12.0 12.6 4.4(r) 1.2(r)
10 Other consumer goods 1.0 2.1 .6 -.3(r)
11 Capital equipment .3 .0 .2(r) -.2(r)
Intermediate materials
12 Excluding foods and feeds 1.2 1.8 .8 -.2(r)
13 Excluding energy -.3 1.5 .1 .1
Crude materials
14 Foods 36.5 14.8 1.6(r) -1.1(r)
15 Energy 102.6 -44.1 31.7(r) -31.0(r)
16 Other -9.2 -13.4 .0(r) -2.3(r)
Change from 1 month
earlier
2001
Index
level,
May
Item Mar. Apr. May 2001(1)
CONSUMER PRICES(2)
(1982-84 = 100)
1 All items .1 .3 .4 177.7
2 Food .2 .1 .3 172.5
3 Energy items -2.1 1.8 3.1 140.1
4 All items less food and energy .2 .2 .1 185.5
5 Commodities -.1 .0 -.4 145.7
6 Services .3 .3 .3 208.4
PRODUCER PRICES
(1982 = 100)
7 Finished goods -.1 .3 .1 142.5
8 Consumer foods 1.1 .6 -.4 141.8
9 Consumer energy -2.6 .1 .2 104.1
10 Other consumer goods .3 .2 .4 156.9
11 Capital equipment .0 .3 -.1 139.7
Intermediate materials
12 Excluding foods and feeds -.2 -.3 .2 132.1
13 Excluding energy .1 -.1 .1 137.5
Crude materials
14 Foods 3.0 -.5 -1.1 110.3
15 Energy -4.9 3.0 -3.7 139.8
16 Other -1.3 -2.6 -.2 130.9
(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
2000
Account 1998 1999 2000 Q1
GROSS DOMESTIC REPORT
1 Total 8,790.2 9,299.2 9,963.1 9,752.7
By source
2 Personal consumption
expenditures 5,850.9 6,268.7 6,757.3 6,621.7
3 Durable goods 693.9 761.3 820.3 826.3
4 Nondurable goods 1,707.6 1,845.5 2,010.0 1,963.9
5 Services 3,449.3 3,661.9 3,927.0 3,831.6
6 Gross private domestic
investment 1,549.9 1,650.1 1,832.7 1,755.7
7 Fixed investment 1,472.9 1,606.8 1,778.2 1,725.8
8 Nonresidential 1,107.5 1,203.1 1,362.2 1,308.5
9 Structures 283.2 285.6 324.2 308.9
10 Producers' durable
equipment 824.3 917.4 1,038.0 999.6
11 Residential
structures 365.4 403.8 416.0 417.3
12 Change in business
inventories 77.0 43.3 54.5 29.9
13 Nonfarm 76.4 43.6 55.8 32.4
14 Net exports of goods and
services -151.5 -254.0 -370.7 -335.2
15 Exports 966.0 990.2 1,097.3 1,051.9
16 Imports 1,117.5 1,244.2 1,468.0 1,387.1
17 Government consumption
expenditures and
gross investment 1,540.9 1,634.4 1,743.7 1,710.4
18 Federal 540.6 568.6 595.2 580.1
19 State and local 1,000.3 1,065.8 1,148.6 1,130.4
By major type of product
20 Final sales, total 8,713.2 9,255.9 9,908.5 9,722.8
21 Goods 3,239.3 3,467.0 3,739.0 3,680.3
22 Durable 1,532.3 1,651.1 1,806.7 1,773.7
23 Nondurable 1,707.1 1,815.8 1,932.3 1,906.6
24 Services 4,673.0 4,934.6 5,254.1 5,135.2
25 Structures 800.9 854.3 915.6 907.4
26 Change in business
inventories 77.0 43.3 54.5 29.9
27 Durable goods 45.8 27.2 37.2 20.7
28 Nondurable goods 31.2 16.1 17.3 9.2
MEMO
29 Total GDP in chained
1996 dollars 8,515.7 8,875.8 9,318.5 9,191.8
NATIONAL INCOME
30 Total 7,038.1 7,469.7 8,002.0 7,833.5
31 Compensation of
employees 4,984.2 5,299.8 5,638.2 5,512.2
32 Wages and salaries 4,192.8 4,475.1 4,769.4 4,660.4
33 Government and
government
enterprises 692.7 724.4 760.9 749.9
34 Other 3,500.1 3,750.7 4,008.5 3,910.5
35 Supplement to wages
and salaries 791.4 824.6 868.8 851.8
36 Employer contribu-
tions for social
insurance 305.9 323.6 344.8 337.8
37 Other labor income 485.5 501.0 524.0 514.0
38 Proprietors' income(1) 620.7 663.5 710.4 693.9
39 Business and
professional(1) 595.2 638.2 687.8 674.8
40 Farm(1) 25.4 25.3 22.6 19.1
41 Rental income of
persons(2) 135.4 143.4 140.0 145.6
42 Corporate profits(1) 815.0 856.0 946.2 936.3
43 Profits before tax(3) 758.2 823.0 925.6 920.7
44 Inventory valuation
adjustment 17.0 -9.1 -12.9 -25.0
45 Capital consumption
adjustment 39.9 42.1 33.5 40.6
46 Net interest 482.7 507.1 567.2 545.4
2000 2001
Account Q2 Q3 Q4 Q1(r)
GROSS DOMESTIC REPORT
1 Total 9,945.7 10,039.4 10,114.4 10,226.8
By source
2 Personal consumption
expenditures 6,706.3 6,810.8 6,890.2 7,002.3
3 Durable goods 814.3 824.7 815.8 839.2
4 Nondurable goods 1,997.6 2,031.5 2,046.9 2,071.8
5 Services 3,894.4 3,954.6 4,027.5 4,091.3
6 Gross private domestic
investment 1,852.6 1,869.3 1,853.3 1,788.8
7 Fixed investment 1,780.5 1,803.0 1,803.5 1,814.8
8 Nonresidential 1,359.2 1,390.6 1,390.4 1,392.4
9 Structures 315.1 330.1 342.8 361.0
10 Producers' durable
equipment 1,044.1 1,060.5 1,047.6 1,031.4
11 Residential
structures 421.3 412.4 413.1 422.4
12 Change in business
inventories 72.0 66.4 49.8 -26.1
13 Nonfarm 72.2 67.5 51.0 -25.3
14 Net exports of goods and
services -355.4 -389.5 -402.7 -375.6
15 Exports 1,092.9 1,130.8 1,113.7 1,110.0
16 Imports 1,448.3 1,520.3 1,516.4 1,485.6
17 Government consumption
expenditures and
gross investment 1,742.2 1,748.8 1,773.6 1,811.3
18 Federal 604.5 594.2 602.0 617.1
19 State and local 1,137.7 1,154.6 1,171.6 1,194.2
By major type of product
20 Final sales, total 9,873.7 9,973.1 10,064.6 10,252.9
21 Goods 3,734.1 3,776.5 3,764.9 3,824.8
22 Durable 1,809.6 1,830.6 1,812.7 1,835.8
23 Nondurable 1,924.5 1,945.9 1,952.2 1,988.9
24 Services 5,231.4 5,281.6 5,368.0 5,460.7
25 Structures 908.2 915.0 931.7 967.4
26 Change in business
inventories 72.0 66.4 49.8 -26.1
27 Durable goods 48.3 39.2 40.7 -33.0
28 Nondurable goods 23.7 27.2 9.0 6.9
MEMO
29 Total GDP in chained
1996 dollars 9,318.9 9,369.5 9,393.7 9,422.8
NATIONAL INCOME
30 Total 7,983.2 8,088.5 8,102.8 8,165.0
31 Compensation of
employees 5,603.5 5,679.6 5,757.5 5,853.9
32 Wages and salaries 4,740.1 4,804.9 4,872.0 4,953.6
33 Government and
government
enterprises 760.2 765.4 768.2 782.5
34 Other 3,980.0 4,039.5 4,103.9 4,171.1
35 Supplement to wages
and salaries 863.3 874.7 885.5 900.3
36 Employer contribu-
tions for social
insurance 342.9 347.1 351.5 359.3
37 Other labor income 520.5 527.6 534.0 541.1
38 Proprietors' income(1) 709.5 724.8 713.2 726.0
39 Business and
professional(1) 688.1 693.1 695.2 705.0
40 Farm(1) 21.5 31.7 18.0 21.0
41 Rental income of
persons(2) 140.8 138.1 135.4 137.9
42 Corporate profits(1) 963.6 970.3 914.7 869.0
43 Profits before tax(3) 942.5 945.1 894.1 841.8
44 Inventory valuation
adjustment -13.6 -4.5 -8.5 -3.5
45 Capital consumption
adjustment 34.7 29.7 29.1 30.7
46 Net interest 565.9 575.7 582.0 578.1
(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
2000
Account 1998 1999 2000 Q1
PERSONAL INCOME AND
SAVING
1 Total personal income 7,391.0 7,789.6 8,281.7 8,105.8
2 Wage and salary
disbursements 4,190.7 4,470.0 4,769.4 4,660.4
3 Commodity-producing
industries 1,038.6 1,089.2 1,153.2 1,130.9
4 Manufacturing 756.6 782.4 815.9 802.8
5 Distributive
industries 949.1 1,020.3 1,107.3 1,070.9
6 Service industries 1,510.3 1,636.0 1,748.0 1,708.6
7 Government and
government
enterprises 692.7 724.4 760.9 749.9
8 Other labor income 485.5 501.0 524.0 514.0
9 Proprietors' income(1) 620.7 663.5 710.4 693.9
10 Business and
professional(1) 595.2 638.2 687.8 674.8
11 Farm(1) 25.4 25.3 22.6 19.1
12 Rental income of
persons(2) 135.4 143.4 140.0 145.6
13 Dividends 351.1 370.3 396.6 386.9
14 Personal interest
income 940.8 963.7 1,034.3 1,011.6
15 Transfer payments 983.0 1,016.2 1,067.8 1,046.9
16 Old-age survivors,
disability, and
health insurance
benefits 578.0 588.0 622.4 607.9
17 LESS: Personal
contributions for
social insurance 316.2 338.5 360.7 353.4
18 EQUALS: Personal income 7,391.0 7,789.6 8,281.7 8,105.8
19 LESS: Personal tax
and nontax
payments 1,070.9 1,152.0 1,291.9 1,239.3
20 EQUALS: Disposable
personal income 6,320.0 6,637.7 6,989.8 6,866.5
21 LESS: Personal
outlays 6,054.7 6,490.1 6,998.3 6,855.6
22 EQUALS: Personal saving 265.4 147.6 -8.5 11.0
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 31,474.2 32,511.9 33,836.1 33,485.6
24 Personal consumption
expenditures 20,988.5 21,900.4 22,855.1 22,635.5
25 Disposable personal
income 22,672.0 23,191.0 23,640.0 23,472.0
26 Saving rate (percent) 4.2 2.2 -.1 .2
GROSS SAVING
27 Gross saving 1,654.4 1,717.6 1,825.1 1,777.0
28 Gross private saving 1,375.7 1,343.5 1,297.1 1,279.2
29 Personal saving 265.4 147.6 -8.5 11.0
30 Undistributed corporate
profits(1) 218.9 229.4 265.0 262.7
31 Corporate inventory
valuation
adjustment 17.0 -9.1 -12.9 -25.0
Capital consumption
allowances
32 Corporate 624.3 676.9 739.4 711.5
33 Noncorporate 265.1 284.5 301.1 294.1
34 Gross government saving 278.7 374.1 528.0 497.7
35 Federal 137.4 217.3 351.6 333.0
36 Consumption of 88.4 92.8 99.8 97.2
fixed capital
37 Current surplus or
deficit (-),
national accounts 49.0 124.4 251.8 235.8
38 State and local 141.3 156.8 176.4 164.7
39 Consumption of
fixed capital 99.5 106.8 116.8 112.7
40 Current surplus or
deficit (-),
national accounts 41.7 50.0 59.6 52.0
41 Gross investment 1,629.6 1,645.6 1,741.3 1,699.3
42 Gross private domestic
investment 1,549.9 1,650.1 1,832.7 1,755.7
43 Gross government
investment 278.8 308.7 336.6 334.2
44 Net foreign investment -199.1 -313.2 -427.9 -390.7
45 Statistical discrepancy -24.8 -71.9 -83.7 -77.7
2000 2001
Account Q2 Q3 Q4 Q1(r)
PERSONAL INCOME AND
SAVING
1 Total personal income 8,242.1 8,349.0 8,429.7 8,554.2
2 Wage and salary
disbursements 4,740.1 4,804.9 4,872.0 4,953.6
3 Commodity-producing
industries 1,147.1 1,161.4 1,173.3 1,184.4
4 Manufacturing 813.1 821.4 826.4 825.6
5 Distributive
industries 1,095.7 1,118.1 1,144.4 1,167.1
6 Service industries 1,737.2 1,760.1 1,786.2 1,819.5
7 Government and
government
enterprises 760.2 765.4 768.2 782.5
8 Other labor income 520.5 527.6 534.0 541.1
9 Proprietors' income(1) 709.5 724.8 713.2 726.0
10 Business and
professional(1) 688.1 693.1 695.2 705.0
11 Farm(1) 21.5 31.7 18.0 21.0
12 Rental income of
persons(2) 140.8 138.1 135.4 137.9
13 Dividends 392.6 399.7 407.2 414.2
14 Personal interest
income 1,031.3 1,042.9 1,051.5 1,043.0
15 Transfer payments 1,066.1 1,074.2 1,084.0 1,115.5
16 Old-age survivors,
disability, and
health insurance
benefits 624.3 627.2 630.4 653.3
17 LESS: Personal
contributions for
social insurance 358.8 363.1 367.6 377.3
18 EQUALS: Personal income 8,242.1 8,349.0 8,429.7 8,554.2
19 LESS: Personal tax
and nontax
payments 1,277.2 1,308.1 1,342.7 1,372.2
20 EQUALS: Disposable
personal income 6,964.9 7,040.9 7,087.0 7,182.0
21 LESS: Personal
outlays 6,944.3 7,054.7 7,138.6 7,254.4
22 EQUALS: Personal saving 20.6 -13.8 -51.6 -72.4
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 33,874.7 33,984.3 33,985.9 34,017.2
24 Personal consumption
expenditures 22,757.7 22,959.1 23,058.3 23,200.6
25 Disposable personal
income 23,639.0 23,732.0 23,718.0 23,795.0
26 Saving rate (percent) .3 -.2 -.7 -1.0
GROSS SAVING
27 Gross saving 1,844.5 1,854.7 1,824.2 1,766.5
28 Gross private saving 1,328.8 1,319.2 1,261.2 1,219.4
29 Personal saving 20.6 -13.8 -51.6 -72.4
30 Undistributed corporate
profits(1) 278.5 279.6 239.4 200.0
31 Corporate inventory
valuation
adjustment -13.6 -4.5 -8.5 -3.5
Capital consumption
allowances
32 Corporate 731.1 750.0 765.2 778.4
33 Noncorporate 298.7 303.3 308.2 313.4
34 Gross government saving 515.7 535.5 563.0 547.1
35 Federal 339.9 354.1 379.3 381.7
36 Consumption of 98.9 100.8 102.3 103.6
fixed capital
37 Current surplus or
deficit (-),
national accounts 240.9 253.3 277.0 278.1
38 State and local 175.8 181.4 183.7 165.4
39 Consumption of
fixed capital 115.6 118.2 120.6 123.2
40 Current surplus or
deficit (-),
national accounts 60.1 63.2 63.1 42.2
41 Gross investment 1,771.9 1,752.8 1,741.3 1,714.8
42 Gross private domestic
investment 1,852.6 1,869.3 1,853.3 1,788.8
43 Gross government
investment 331.9 333.6 346.5 350.3
44 Net foreign investment -412.5 -450.1 -458.5 -424.2
45 Statistical discrepancy -72.5 -101.8 -82.9 -51.6
(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 1998(r) 1999(r) 2000(r)
1 Balance on current account -217,457 -324,364 -444,667
2 Balance on goods and
services -166,828 -261,838 -375,739
3 Exports 932,694 957,353 1,065,702
4 Imports -1,099,522 -1,219,191 -1,441,441
5 Income, net -6,202 -13,613 -14,792
6 Investment, net -1,211 -8,511 -9,621
7 Direct 66,253 67,044 81,231
8 Portfolio -67,464 -75,555 -90,852
9 Compensation of
employees -4,991 -5,102 -5,171
10 Unilateral current
transfers, net -44,427 -48,913 -54,136
11 Change in U.S. government
assets other than
official reserve
assets, net
(increase, -) -422 2,751 -944
12 Change in U.S. official
reserve assets
(increase, -) -6,783 8,747 -290
13 Gold 0 0 0
14 Special drawing rights -147 10 -722
(SDRs)
15 Reserve position in Inter-
national Monetary -5,119 5,484 2,308
Fund
16 Foreign currencies -1,517 3,253 -1,876
17 Change in U.S. private
assets abroad
(increase, -) -352,427 -448,565 -579,718
18 Bank-reported claims(2) -35,572 -76,263 -138,500
19 Nonbank-reported claims -38,204 -85,700 -163,846
20 U.S. purchases of foreign
securities, net -136,135 -131,217 -124,935
21 U.S. direct investments
abroad, net -142,516 -155,385 -152,437
22 Change in foreign official
assets in United
States (increase, +) -19,948 43,551 37,619
23 U.S. Treasury securities -9,921 12,177 -10,233
24 Other U.S. government
obligations 6,332 20,350 40,909
25 Other U.S. government
liabilities(2) -3,371 -2,855 -1,987
26 Other U.S. liabilities
reported by U.S.
banks(2) -9,501 12,964 5,803
27 Other foreign official
assets(3) -3,487 915 3,127
28 Change in foreign private
assets in United
States (increase, +) 524,412 770,193 986,599
29 U.S. bank-reported
liabilities(4) 39,769 54,232 87,953
30 U.S. nonbank-reported
liabilities 23,140 69,075 177,010
31 Foreign private purchases
of U.S. Treasury
securities, net 48,581 -20,490 -52,792
32 U.S. currency flows 16,622 22,407 1,129
33 Foreign purchases of other
U.S. securities, net 218,091 343,963 485,644
34 Foreign direct investments
in United States,
net 178,209 301,006 287,655
35 Capital account transac-
tions, net(5) 678 -3,491 705
36 Discrepancy 71,947 -48,822 696
37 Due to seasonal adjustment ... ... ...
38 Before seasonal adjustment 71,947 -48,822 696
MEMO
Changes in official assets
39 U.S. official reserve assets -6,783 8,747 -290
(increase, -)
40 Foreign official assets in
United States,
excluding line 25
(increase, +) -16,577 46,406 39,606
41 Change in Organization of
Petroleum Exporting
Countries official
assets in United
States (part of line
22) -11,531 1,621 11,582
2000(r)
Item credits or debits Q1 Q2 Q3
1 Balance on current account -104,903 -108,134 -115,305
2 Balance on goods and
services -87,322 -90,784 -97,340
3 Exports 257,256 265,822 272,497
4 Imports -344,578 -356,606 -369,837
5 Income, net -5,657 -4,889 -4,885
6 Investment, net -4,380 -3,589 -3,620
7 Direct 16,365 18,117 21,049
8 Portfolio -20,745 -21,706 -24,669
9 Compensation of
employees -1,277 -1,300 -1,265
10 Unilateral current
transfers, net -11,924 -12,461 -13,080
11 Change in U.S. government
assets other than
official reserve
assets, net
(increase, -) -127 -572 114
12 Change in U.S. official
reserve assets
(increase, -) -554 2,020 -346
13 Gold 0 0 0
14 Special drawing rights -180 -180 -182
(SDRs)
15 Reserve position in Inter-
national Monetary -237 2,328 1,300
Fund
16 Foreign currencies -137 -128 -1,464
17 Change in U.S. private
assets abroad
(increase, -) -197,424 -95,021 -107,495
18 Bank-reported claims(2) -56,234 7,455 -18,147
19 Nonbank-reported claims -75,256 -29,491 -14,585
20 U.S. purchases of foreign
securities, net -27,546 -39,639 -33,129
21 U.S. direct investments
abroad, net -38,388 -33,346 -41,634
22 Change in foreign official
assets in United
States (increase, +) 22,498 6,447 12,247
23 U.S. Treasury securities 16,204 -4,000 -9,001
24 Other U.S. government
obligations 8,107 10,334 14,272
25 Other U.S. government
liabilities(2) -474 -1,000 -220
26 Other U.S. liabilities
reported by U.S.
banks(2) -2,270 209 6,884
27 Other foreign official
assets(3) 931 904 312
28 Change in foreign private
assets in United
States (increase, +) 234,284 243,560 209,861
29 U.S. bank-reported
liabilities(4) -7,425 53,923 -1,910
30 U.S. nonbank-reported
liabilities 85,188 24,400 19,078
31 Foreign private purchases
of U.S. Treasury
securities, net -9,348 -20,546 -12,503
32 U.S. currency flows -6,847 989 757
33 Foreign purchases of other
U.S. securities, net 136,208 94,400 128,393
34 Foreign direct investments
in United States,
net 36,508 90,394 76,046
35 Capital account transac-
tions, net(5) 173 173 175
36 Discrepancy 46,053 -48,473 749
37 Due to seasonal adjustment 8,501 -2,380 -9,977
38 Before seasonal adjustment 37,552 -46,093 10,726
MEMO
Changes in official assets
39 U.S. official reserve assets -554 2,020 -346
(increase, -)
40 Foreign official assets in
United States,
excluding line 25
(increase, +) 22,972 7,447 12,467
41 Change in Organization of
Petroleum Exporting
Countries official
assets in United
States (part of line
22) 6,143 1,639 3,636
2000(r) 2001
Item credits or debits Q4 Q1(p)
1 Balance on current account -116,324 -109,562
2 Balance on goods and
services -100,293 -95,015
3 Exports 270,131 269,297
4 Imports -370,424 -364,312
5 Income, net 642 -3,090
6 Investment, net 1,971 -1,730
7 Direct 25,703 23,263
8 Portfolio -23,732 -24,993
9 Compensation of
employees -1,329 -1,360
10 Unilateral current
transfers, net -16,673 -11,457
11 Change in U.S. government
assets other than
official reserve
assets, net
(increase, -) -359 68
12 Change in U.S. official
reserve assets
(increase, -) -1,410 190
13 Gold 0 0
14 Special drawing rights -180 -189
(SDRs)
15 Reserve position in Inter-
national Monetary -1,083 574
Fund
16 Foreign currencies -147 -195
17 Change in U.S. private
assets abroad
(increase, -) -179,779 -157,195
18 Bank-reported claims(2) -71,574 -90,027
19 Nonbank-reported claims -44,514 -5,618
20 U.S. purchases of foreign
securities, net -24,621 -28,535
21 U.S. direct investments
abroad, net -39,070 -33,015
22 Change in foreign official
assets in United
States (increase, +) -3,573 4,091
23 U.S. Treasury securities -13,436 -1,027
24 Other U.S. government
obligations 8,196 3,574
25 Other U.S. government
liabilities(2) -293 -1,244
26 Other U.S. liabilities
reported by U.S.
banks(2) 980 1,785
27 Other foreign official
assets(3) 980 1,003
28 Change in foreign private
assets in United
States (increase, +) 298,894 233,412
29 U.S. bank-reported
liabilities(4) 43,365 -476
30 U.S. nonbank-reported
liabilities 48,344 42,269
31 Foreign private purchases
of U.S. Treasury
securities, net -10,395 538
32 U.S. currency flows 6,230 2,311
33 Foreign purchases of other
U.S. securities, net 126,643 147,132
34 Foreign direct investments
in United States,
net 84,707 41,638
35 Capital account transac-
tions, net(5) 184 174
36 Discrepancy 2,367 28,822
37 Due to seasonal adjustment 3,856 8,945
38 Before seasonal adjustment -1,489 19,877
MEMO
Changes in official assets
39 U.S. official reserve assets -1,410 190
(increase, -)
40 Foreign official assets in
United States,
excluding line 25
(increase, +) -3,280 5,335
41 Change in Organization of
Petroleum Exporting
Countries official
assets in United
States (part of line
22) 164 -170
(1.) Seasonal factors are not calculated for lines 11-16,
18-20, 22-35, and 38-41.
(2.) Associated primarily with military sales contracts and
other transactions arranged with or through foreign official
agencies..
(3.) Consists of investments in U.S. corporate stocks and in
debt securities of private corporations and state and local
governments.
(4.) Reporting banks included all types of depository institutions
as well as some brokers and dealers.
(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(r)
Item 1998 1999 2000 Oct.
1 Goods and services,
balance -166,686 -261,838 -375,739 -34,025
2 Merchandise -246,855 -345,434 -452,207 -40,205
3 Services 80,169 83,596 76,468 6,180
4 Goods and services,
exports 933,053 957,353 1,065,702 90,412
5 Merchandise 670,324 684,553 772,210 65,807
6 Services 262,729 272,800 293,492 24,605
7 Goods and services,
imports -1,099,739 -1,219,191 -1,441,441 -124,437
8 Merchandise -917,179 -1,029,987 -1,224,417 -106,012
9 Services -182,560 -189,204 -217,024 -18,425
2000(r) 2001
Item Nov. Dec. Jan.(r)
1 Goods and services,
balance -32,978 -33,291 -33,332
2 Merchandise -38,955 -39,361 -39,127
3 Services 5,977 6,070 5,795
4 Goods and services,
exports 90,478 89,241 90,104
5 Merchandise 65,856 64,574 65,309
6 Services 24,622 24,667 24,795
7 Goods and services,
imports -123,456 -122,532 -123,436
8 Merchandise -104,811 -103,935 -104,436
9 Services -18,645 -18,597 -19,000
2001
Item Feb.(r) Mar. Apr.(p)
1 Goods and services,
balance -28,610 -33,076 -32,174
2 Merchandise -34,614 -38,781 -37,833
3 Services 6,004 5,705 5,659
4 Goods and services,
exports 90,475 88,716 86,917
5 Merchandise 65,748 63,884 62,123
6 Services 24,727 24,832 24,794
7 Goods and services,
imports -119,085 -121,792 -119,091
8 Merchandise -100,362 -102,665 -99,956
9 Services -18,723 -19,127 -19,135
(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 Nov.
1 Total 69,954 81,761 71,516 65,523
2 Gold stock(1) 11,047 11,046 11,048 11,046
3 Special drawing rights(2,3) 10,027 10,603 10,336 10,369
4 Reserve position in International
Monetary Fund(2) 18,071 24,111 17,950 13,491
5 Foreign currencies(4) 30,809 36,001 32,182 30,617
2000 2001
Asset Dec. Jan. Feb. Mar.
1 Total 67,647 67,542 66,486 64,222
2 Gold stock(1) 11,046 11,046 11,046 11,046
3 Special drawing rights(2,3) 10,539 10,497 10,641 10,379
4 Reserve position in International
Monetary Fund(2) 14,824 15,079 14,107 13,777
5 Foreign currencies(4) 31,238 30,920 30,692 29,020
2001
Asset Apr. May June(p)
1 Total 64,731 65,254(r) 64,847
2 Gold stock(1) 11,046 11,044(r) 11,044
3 Special drawing rights(2,3) 10,420 10,481 10,409
4 Reserve position in International
Monetary Fund(2) 13,816 14,283 14,619
5 Foreign currencies(4) 29,449 29,446 28,775
(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 $4.22 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 Nov.
1 Deposits 457 167 71 104
Held in custody
2 U.S. Treasury securities(2) 620,885 607,574 632,482 591,071
3 Earmarked gold(3) 10,763 10,343 9,933 9,505
2000 2001
Asset Dec. Jan. Feb. Mar.
1 Deposits 215 199 196 70
Held in custody
2 U.S. Treasury securities(2) 594,094 594,694 603,906 609,440
3 Earmarked gold(3) 9,451 9,397 9,343 9,289
2001
Asset Apr. May June(p)
1 Deposits 101 86 102
Held in custody
2 U.S. Treasury securities(2) 585,710 583,655 586,607
3 Earmarked gold(3) 9,235 9,154 9,100
(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(r)
Item 1998 1999 Oct.
1 Total(1) 759,928 806,318 850,116
By type
2 Liabilities reported by banks in the
United States(2) 125,883 138,847 146,452
3 U.S. Treasury bills and
certificates(3) 134,177 156,177 155,101
U.S. Treasury bonds and notes
4 Marketable 432,127 422,266 419,863
5 Nonmarketable(4) 6,074 6,111 5,280
6 U.S. securities other than U.S.
Treasury securities(5) 61,667 82,917 123,420
By area
7 Europe(1) 256,026 244,805 264,131
8 Canada 10,552 12,503 12,632
9 Latin America and Caribbean 79,503 73,518 77,526
10 Asia 400,631 463,703 481,344
11 Africa 10,059 7,523 8,323
12 Other countries 3,157 4,266 6,160
2000(r) 2001
Item Nov. Dec. Jan.(r)
1 Total(1) 849,049 845,926 866,885
By type
2 Liabilities reported by banks in the
United States(2) 147,631 144,650 155,295
3 U.S. Treasury bills and
certificates(3) 155,061 153,010 158,967
U.S. Treasury bonds and notes
4 Marketable 414,896 415,964 418,190
5 Nonmarketable(4) 5,313 5,348 4,923
6 U.S. securities other than U.S.
Treasury securities(5) 126,148 126,954 129,510
By area
7 Europe(1) 262,099 253,592 259,829
8 Canada 11,744 12,394 11,220
9 Latin America and Caribbean 78,742 76,812 80,117
10 Asia 481,094 488,168 499,925
11 Africa 8,012 9,165 8,965
12 Other countries 7,358 5,795 6,829
2001
Item Feb.(r) Mar. Apr.(p)
1 Total(1) 864,593 865,466 855,708
By type
2 Liabilities reported by banks in the
United States(2) 155,163 154,641 158,997
3 U.S. Treasury bills and
certificates(3) 155,667 155,204 144,158
U.S. Treasury bonds and notes
4 Marketable 418,857 419,106 410,066
5 Nonmarketable(4) 4,953 4,984 5,017
6 U.S. securities other than U.S.
Treasury securities(5) 129,953 131,531 137,470
By area
7 Europe(1) 256,180 250,420 248,106
8 Canada 10,794 10,396 10,474
9 Latin America and Caribbean 80,389 79,185 79,457
10 Asia 501,486 511,023 500,670
11 Africa 9,586 9,102 9,341
12 Other countries 6,158 5,340 7,660
(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
2000
Item 1997 1998 1999 June
1 Banks' liabilities 117,524 101,125 88,537 85,842
2 Banks' claims 83,038 78,162 67,365 67,862
3 Deposits 28,661 45,985 34,426 31,724(r)
4 Other claims 54,377 32,177 32,939 36,138(r)
5 Claims of banks' domestic 8,191 20,718 20,826 18,802
customers(2)
2000 2001
Item Sept. Dec.(r) Mar.
1 Banks' liabilities 78,852 77,935 88,653
2 Banks' claims 60,355 57,005 71,075
3 Deposits 26,306(r) 23,407 27,004
4 Other claims 34,049(r) 33,598 44,071
5 Claims of banks' domestic 19,123 24,411 20,682
customers(2)
(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 1998 1999 2000
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,347,837 1,408,740 1,523,669
2 Banks' own liabilities 884,939 971,536 1,049,070
3 Demand deposits 29,558 42,884 33,553
4 Time deposits(2) 151,761 163,620 191,791
5 Other(3) 140,752 155,853 173,233
6 Own foreign offices(4) 562,868 609,179 650,493
7 Banks' custodial
liabilities(5) 462,898 437,204 474,599
8 U.S. Treasury bills and
certificates(6) 183,494 185,676 177,742
9 Short-term agency
securities(7) n.a. n.a. n.a.
10 Other negotiable and
readily transferable
instruments(8) 141,699 132,617 144,858
11 Other 137,705 118,911 151,999
12 Nonmonetary international
and regional
organizations(9) 11,883 15,276 12,560
13 Banks' own liabilities 10,850 14,357 12,158
14 Demand deposits 172 98 41
15 Time deposits(2) 5,793 10,349 6,264
16 Other(3) 4,885 3,910 5,853
17 Banks' custodial
liabilities(5) 1,033 919 402
18 U.S. Treasury bills and
certificates(6) 636 680 252
19 Short-term agency
securities(7) n.a. n.a. n.a.
20 Other negotiable and
readily transferable
instruments(8) 397 233 149
21 Other 0 6 1
22 Official institutions(10) 260,060 295,024 297,660
23 Banks' own liabilities 80,256 97,615 97,052
24 Demand deposits 3,003 3,341 3,950
25 Time deposits(2) 29,506 28,942 35,638
26 Other(3) 47,747 65,332 57,464
27 Banks' custodial
liabilities(5) 179,804 197,409 200,608
28 U.S. Treasury bills and
certificates(6) 134,177 156,177 153,010
29 Short-term agency
securities(7) n.a. n.a. n.a.
30 Other negotiable and
readily transferable
instruments(8) 44,953 41,182 47,360
31 Other 674 50 238
32 Banks(11) 885,336 900,379 981,552
33 Banks' own liabilities 676,057 728,492 789,052
34 Unaffiliated foreign
banks 113,189 119,313 138,559
35 Demand deposits 14,071 17,583 15,532
36 Time deposits(2) 45,904 48,140 67,498
37 Other(3) 53,214 53,590 55,529
38 Own foreign offices(4) 562,868 609,179 650,493
39 Banks' custodial
liabilities(5) 209,279 171,887 192,500
40 U.S. Treasury bills and
certificates(6) 35,359 16,796 15,919
41 Short-term agency
securities(7) n.a. n.a. n.a.
42 Other negotiable and
readily transferable
instruments(8) 45,332 45,695 35,104
43 Other 128,588 109,396 141,477
44 Other foreigners 190,558 198,061 231,897
45 Banks' own liabilities 117,776 131,072 150,808
46 Demand deposits 12,312 21,862 14,030
47 Time deposits(2) 70,558 76,189 82,391
48 Other(3) 34,906 33,021 54,387
49 Banks' custodial
liabilities(5) 72,782 66,989 81,089
50 U.S. Treasury bills and
certificates(6) 13,322 12,023 8,561
51 Short-term agency
securities(7) n.a. n.a. n.a.
52 Other negotiable and
readily transferable
instruments(8) 51,017 45,507 62,245
53 Other 8,443 9,459 10,283
MEMO
54 Negotiable time certificates
of deposit in
custody for
foreigners 27,026 30,345 34,088
55 Repurchase agreements(7) n.a. n.a. n.a.
AREA
56 Total, all foreigners 1,347,837 1,408,740 1,523,669
57 Foreign countries 1,335,954 1,393,464 1,511,108
58 Europe 427,375 441,810 449,152
59 Austria 3,178 2,789 2,724
60 Belgium(12) 42,818 44,692 33,401
61 Denmark 1,437 2,196 3,001
62 Finland 1,862 1,658 1,412
63 France 44,616 49,790 37,840
64 Germany 21,357 24,753 35,535
65 Greece 2,066 3,748 2,013
66 Italy 7,103 6,775 5,079
67 Luxembourg(12) n.a. n.a. n.a.
68 Netherlands 10,793 8,143 7,485
69 Norway 710 1,327 2,305
70 Portugal 3,236 2,228 2,404
71 Russia 2,439 5,475 19,020
72 Spain 15,781 10,426 7,801
73 Sweden 3,027 4,652 6,498
74 Switzerland 50,654 63,485 74,732
75 Turkey 4,286 7,842 7,548
76 United Kingdom 181,554 172,687 169,484
77 Channel Islands & Isle of
Man(13) n.a. n.a. n.a.
78 Yugoslavia 233 286 276
79 Other Europe and other
former U.S.S.R.(15) 30,225 28,858 30,594
80 Canada 30,212 34,214 31,059
81 Latin America 121,327 117,495 121,719
82 Argentina 19,014 18,633 19,493
83 Brazil 15,815 12,865 10,953
84 Chile 5,015 7,008 5,895
85 Colombia 4,624 5,669 4,555
86 Ecuador 1,572 1,956 2,119
87 Guatemala 1,336 1,626 1,637
88 Mexico 37,157 30,717 33,157
89 Panama 3,864 4,415 4,292
90 Peru 840 1,142 1,435
91 Uruguay 2,486 2,386 3,006
92 Venezuela 19,894 20,192 24,779
93 Other Latin America(16) 9,710 10,886 10,398
94 Caribbean 433,539 461,200 580,562
95 Bahamas 118,085 135,811 189,454
96 Bermuda 6,846 7,874 9,695
97 British West Indies(17) 302,486 312,278 374,107
98 Caymen Islands(17) n.a. n.a. n.a.
99 Cuba 62 75 90
100 Jamaica 577 520 815
101 Netherlands Antilles 5,010 4,047 5,496
102 Trinidad and Tobago 473 595 905
103 Other Caribbean(16) n.a. n.a. n.a.
104 Asia 307,960 319,489 306,412
China
105 Mainland 13,441 12,325 16,538
106 Taiwan 12,708 13,603 17,690
107 Hong Kong 20,900 27,701 26,768
108 India 5,250 7,367 4,532
109 Indonesia 8,282 6,567 8,524
110 Israel 7,749 7,488 8,055
111 Japan 168,563 159,075 150,434
112 Korea (South) 12,524 12,988 7,967
113 Philippines 3,324 3,268 2,430
114 Thailand 7,359 6,050 3,129
115 Middle Eastern
oil-exporting
countries(18) 15,609 21,314 23,760
116 Other 32,251 41,743 36,585
117 Africa 8,905 9,468 10,836
118 Egypt 1,339 2,022 2,622
119 Morocco 97 179 139
120 South Africa 1,522 1,495 1,011
121 Congo (formerly Zaire) 5 14 4
122 Oil-exporting
countries(19) 3,088 2,914 4,052
123 Other 2,854 2,844 3,008
124 Other Countries 6,636 9,788 11,368
125 Australia 5,495 8,377 10,090
126 New Zealand(20) n.a. n.a. n.a.
127 All other 1,141 1,411 1,278
128 Nonmonetary international
and regional
organizations 11,883 15,276 12,561
129 International(21) 10,221 12,876 11,288
130 Latin American
regional(22) 594 1,150 740
131 Other regional(23) 1,068 1,250 533
2000
Item
Oct. Nov. Dec.
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,511,173 1,525,179 1,523,669
2 Banks' own liabilities 1,074,575 1,073,536 1,049,070
3 Demand deposits 29,500 31,701 33,553
4 Time deposits(2) 185,454 192,422 191,791
5 Other(3) 194,659 187,066 173,233
6 Own foreign offices(4) 664,962 662,347 650,493
7 Banks' custodial
liabilities(5) 436,598 451,643 474,599
8 U.S. Treasury bills and
certificates(6) 173,984 173,896 177,742
9 Short-term agency
securities(7) n.a. n.a. n.a.
10 Other negotiable and
readily transferable
instruments(8) 129,753 132,453 144,858
11 Other 132,861 145,294 151,999
12 Nonmonetary international
and regional
organizations(9) 17,104 17,074 12,560
13 Banks' own liabilities 16,751 16,676 12,158
14 Demand deposits 48 30 41
15 Time deposits(2) 5,918 6,542 6,264
16 Other(3) 10,785 10,104 5,853
17 Banks' custodial
liabilities(5) 353 398 402
18 U.S. Treasury bills and
certificates(6) 215 249 252
19 Short-term agency
securities(7) n.a. n.a. n.a.
20 Other negotiable and
readily transferable
instruments(8) 138 147 149
21 Other 0 2 1
22 Official institutions(10) 301,553 302,692 297,660
23 Banks' own liabilities 102,654 102,110 97,052
24 Demand deposits 4,361 4,702 3,950
25 Time deposits(2) 34,035 35,335 35,638
26 Other(3) 64,258 62,073 57,464
27 Banks' custodial
liabilities(5) 198,899 200,582 200,608
28 U.S. Treasury bills and
certificates(6) 155,101 155,061 153,010
29 Short-term agency
securities(7) n.a. n.a. n.a.
30 Other negotiable and
readily transferable
instruments(8) 43,753 44,828 47,360
31 Other 45 693 238
32 Banks(11) 963,643 973,539 981,552
33 Banks' own liabilities 797,391 794,924 789,052
34 Unaffiliated foreign
banks 132,429 132,577 138,559
35 Demand deposits 12,160 12,834 15,532
36 Time deposits(2) 64,301 68,828 67,498
37 Other(3) 55,968 50,915 55,529
38 Own foreign offices(4) 664,962 662,347 650,493
39 Banks' custodial
liabilities(5) 166,252 178,615 192,500
40 U.S. Treasury bills and
certificates(6) 9,972 10,285 15,919
41 Short-term agency
securities(7) n.a. n.a. n.a.
42 Other negotiable and
readily transferable
instruments(8) 34,261 34,643 35,104
43 Other 122,019 133,687 141,477
44 Other foreigners 228,873 231,874 231,897
45 Banks' own liabilities 157,779 159,826 150,808
46 Demand deposits 12,931 14,135 14,030
47 Time deposits(2) 81,200 81,717 82,391
48 Other(3) 63,648 63,974 54,387
49 Banks' custodial
liabilities(5) 71,094 72,048 81,089
50 U.S. Treasury bills and
certificates(6) 8,696 8,301 8,561
51 Short-term agency
securities(7) n.a. n.a. n.a.
52 Other negotiable and
readily transferable
instruments(8) 51,601 52,835 62,245
53 Other 10,797 10,912 10,283
MEMO
54 Negotiable time certificates
of deposit in
custody for
foreigners 27,164 25,854 34,088
55 Repurchase agreements(7) n.a. n.a. n.a.
AREA
56 Total, all foreigners 1,511,173 1,525,179 1,523,669
57 Foreign countries 1,494,069 1,508,105 1,511,108
58 Europe 483,826 471,979 449,152
59 Austria 2,037 2,671 2,724
60 Belgium(12) 29,648 32,389 33,401
61 Denmark 3,001 3,531 3,001
62 Finland 1,418 1,874 1,412
63 France 41,736 43,534 37,840
64 Germany 28,633 27,084 35,535
65 Greece 3,445 3,344 2,013
66 Italy 5,594 5,521 5,079
67 Luxembourg(12) n.a. n.a. n.a.
68 Netherlands 14,450 13,283 7,485
69 Norway 4,102 5,159 2,305
70 Portugal 2,262 2,379 2,404
71 Russia 17,260 20,022 19,020
72 Spain 9,270 6,900 7,801
73 Sweden 6,247 7,362 6,498
74 Switzerland 97,151 86,154 74,732
75 Turkey 8,492 4,525 7,548
76 United Kingdom 173,254 172,281 169,484
77 Channel Islands & Isle of
Man(13) n.a. n.a. n.a.
78 Yugoslavia 270 279 276
79 Other Europe and other
former U.S.S.R.(15) 35,556 33,687 30,594
80 Canada 34,367 31,252 31,059
81 Latin America 121,417 121,353 121,719
82 Argentina 18,746 17,886 19,493
83 Brazil 10,204 11,663 10,953
84 Chile 5,105 5,327 5,895
85 Colombia 4,945 4,560 4,555
86 Ecuador 2,084 2,059 2,119
87 Guatemala 1,667 1,678 1,637
88 Mexico 36,054 33,856 33,157
89 Panama 3,788 3,980 4,292
90 Peru 1,153 1,194 1,435
91 Uruguay 2,512 2,944 3,006
92 Venezuela 24,288 25,963 24,779
93 Other Latin America(16) 10,871 10,243 10,398
94 Caribbean 533,961 560,281 580,562
95 Bahamas 178,113 176,823 189,454
96 Bermuda 8,730 8,404 9,695
97 British West Indies(17) 340,926 368,175 374,107
98 Caymen Islands(17) n.a. n.a. n.a.
99 Cuba 94 88 90
100 Jamaica 680 722 815
101 Netherlands Antilles 4,614 5,318 5,496
102 Trinidad and Tobago 804 751 905
103 Other Caribbean(16) n.a. n.a. n.a.
104 Asia 299,164 301,595 306,412
China
105 Mainland 13,719 15,835 16,538
106 Taiwan 18,289 17,630 17,690
107 Hong Kong 25,784 25,924 26,768
108 India 5,548 5,173 4,532
109 Indonesia 7,589 8,375 8,524
110 Israel 6,668 6,538 8,055
111 Japan 150,196 149,679 150,434
112 Korea (South) 6,684 6,689 7,967
113 Philippines 1,676 2,334 2,430
114 Thailand 3,178 3,477 3,129
115 Middle Eastern
oil-exporting
countries(18) 23,856 23,732 23,760
116 Other 35,977 36,209 36,585
117 Africa 9,663 9,515 10,836
118 Egypt 1,546 1,655 2,622
119 Morocco 121 100 139
120 South Africa 767 853 1,011
121 Congo (formerly Zaire) 4 4 4
122 Oil-exporting
countries(19) 4,405 4,027 4,052
123 Other 2,820 2,876 3,008
124 Other Countries 11,671 12,130 11,368
125 Australia 10,562 10,961 10,090
126 New Zealand(20) n.a. n.a. n.a.
127 All other 1,109 1,169 1,278
128 Nonmonetary international
and regional
organizations 17,104 17,074 12,561
129 International(21) 16,133 16,068 11,288
130 Latin American
regional(22) 582 523 740
131 Other regional(23) 389 483 533
2001
Item
Jan. Feb.(r)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,569,027(r) 1,534,075
2 Banks' own liabilities 1,086,287(r) 1,050,242
3 Demand deposits 30,864(r) 35,765
4 Time deposits(2) 187,383(r) 191,653
5 Other(3) 203,269 198,788
6 Own foreign offices(4) 664,771 624,036
7 Banks' custodial
liabilities(5) 482,740 483,833
8 U.S. Treasury bills and
certificates(6) 182,276 179,277
9 Short-term agency
securities(7) 66,604(r) 74,282
10 Other negotiable and
readily transferable
instruments(8) 76,694(r) 72,489
11 Other 157,166 157,785
12 Nonmonetary international
and regional
organizations(9) 10,938 11,596
13 Banks' own liabilities 10,595 11,220
14 Demand deposits 27 19
15 Time deposits(2) 5,641 4,984
16 Other(3) 4,927 6,217
17 Banks' custodial
liabilities(5) 343 376
18 U.S. Treasury bills and
certificates(6) 294 248
19 Short-term agency
securities(7) 26 108
20 Other negotiable and
readily transferable
instruments(8) 23 15
21 Other 0 5
22 Official institutions(10) 314,262(r) 310,830
23 Banks' own liabilities 103,447(r) 99,602
24 Demand deposits 3,201(r) 4,444
25 Time deposits(2) 33,026(r) 29,957
26 Other(3) 67,220 65,201
27 Banks' custodial
liabilities(5) 210,815 211,228
28 U.S. Treasury bills and
certificates(6) 158,967 155,667
29 Short-term agency
securities(7) 45,384 49,594
30 Other negotiable and
readily transferable
instruments(8) 5,337 5,325
31 Other 1,127 642
32 Banks(11) 1,008,771 976,200
33 Banks' own liabilities 810,402 779,504
34 Unaffiliated foreign
banks 145,631 155,468
35 Demand deposits 14,297 12,600
36 Time deposits(2) 70,896 78,599
37 Other(3) 60,438 64,269
38 Own foreign offices(4) 664,771 624,036
39 Banks' custodial
liabilities(5) 198,369 196,696
40 U.S. Treasury bills and
certificates(6) 14,484 13,909
41 Short-term agency
securities(7) 7,573(r) 8,008
42 Other negotiable and
readily transferable
instruments(8) 30,623(r) 29,099
43 Other 145,689 145,680
44 Other foreigners 235,056(r) 235,449
45 Banks' own liabilities 161,843(r) 159,916
46 Demand deposits 13,339 18,702
47 Time deposits(2) 77,820 78,113
48 Other(3) 70,684 63,101
49 Banks' custodial
liabilities(5) 73,213 75,533
50 U.S. Treasury bills and
certificates(6) 8,531 9,453
51 Short-term agency
securities(7) 13,621(r) 16,572
52 Other negotiable and
readily transferable
instruments(8) 40,711(r) 38,050
53 Other 10,350 11,458
MEMO
54 Negotiable time certificates
of deposit in
custody for
foreigners 31,389 30,277
55 Repurchase agreements(7) 125,225(r) 120,444
AREA
56 Total, all foreigners 1,569,027(r) 1,534,075(r)
57 Foreign countries 1,558,088(r) 1,522,478(r)
58 Europe 477,162 448,113(r)
59 Austria 2,366 2,124
60 Belgium(12) 7,357 5,709(r)
61 Denmark 3,391 4,182
62 Finland 1,155 1,667
63 France 49,045 45,435(r)
64 Germany 30,250 30,432(r)
65 Greece 1,888 1,963
66 Italy 4,997 5,071(r)
67 Luxembourg(12) 27,095 24,234(r)
68 Netherlands 8,504 8,413
69 Norway 4,762 6,331
70 Portugal 2,571 2,625
71 Russia 17,233 19,029
72 Spain 8,129 8,241(r)
73 Sweden 5,648 5,959
74 Switzerland 83,096 64,748(r)
75 Turkey 7,783 5,382(r)
76 United Kingdom 143,476(r) 134,449(r)
77 Channel Islands & Isle of
Man(13) 36,373(r) 43,087(r)
78 Yugoslavia 287 294
79 Other Europe and other
former U.S.S.R.(15) 31,756 28,738(r)
80 Canada 23,927 23,945
81 Latin America 118,928 120,971(r)
82 Argentina 18,936 18,011(r)
83 Brazil 10,542 11,473
84 Chile 5,647 5,955
85 Colombia 4,552 4,445
86 Ecuador 2,157 2,254
87 Guatemala 1,581 1,535
88 Mexico 33,721 35,408(r)
89 Panama 3,615 3,885
90 Peru 1,355 1,459
91 Uruguay 2,798 2,844
92 Venezuela 26,996 26,525(r)
93 Other Latin America(16) 7,028 7,177
94 Caribbean 601,777 590,403(r)
95 Bahamas 186,180 185,562
96 Bermuda 9,488 8,119(r)
97 British West Indies(17) n.a. n.a.
98 Caymen Islands(17) 384,398(r) 376,109(r)
99 Cuba 130 84
100 Jamaica 792 945
101 Netherlands Antilles 6,565 5,537
102 Trinidad and Tobago 797 886
103 Other Caribbean(16) 13,427(r) 13,161(r)
104 Asia 315,128(r) 317,069(r)
China
105 Mainland 27,451 31,654
106 Taiwan 19,828 18,192(r)
107 Hong Kong 27,013 27,674
108 India 4,197 4,058
109 Indonesia 8,536 9,027
110 Israel 7,666 7,262
111 Japan 148,730 150,830(r)
112 Korea (South) 7,155 6,273
113 Philippines 1,769 1,422
114 Thailand 3,157 3,455(r)
115 Middle Eastern
oil-exporting
countries(18) 22,425 21,613
116 Other 37,201(r) 35,609(r)
117 Africa 10,552 10,984
118 Egypt 2,552 2,336
119 Morocco 157 139
120 South Africa 843 914
121 Congo (formerly Zaire) 10 10
122 Oil-exporting
countries(19) 4,317 4,750
123 Other 2,673 2,835
124 Other Countries 10,614 10,993
125 Australia 8,854 9,519
126 New Zealand(20) 1,032 328
127 All other 728 1,146
128 Nonmonetary international
and regional
organizations 10,939 11,597
129 International(21) 9,024 10,811
130 Latin American
regional(22) 1,493 223
131 Other regional(23) 422 534
2001
Item
Mar. Apr.(p)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,498,780 1,531,621
2 Banks' own liabilities 1,038,209 1,062,835
3 Demand deposits 33,868 31,267
4 Time deposits(2) 182,479 190,704
5 Other(3) 199,882 201,381
6 Own foreign offices(4) 621,980 639,483
7 Banks' custodial
liabilities(5) 460,571 468,786
8 U.S. Treasury bills and
certificates(6) 171,755 159,686
9 Short-term agency
securities(7) 71,460 69,228
10 Other negotiable and
readily transferable
instruments(8) 63,169 78,058
11 Other 154,187 161,814
12 Nonmonetary international
and regional
organizations(9) 11,645 12,213
13 Banks' own liabilities 11,101 11,724
14 Demand deposits 23 14
15 Time deposits(2) 5,252 5,301
16 Other(3) 5,826 6,409
17 Banks' custodial
liabilities(5) 544 489
18 U.S. Treasury bills and
certificates(6) 229 170
19 Short-term agency
securities(7) 137 144
20 Other negotiable and
readily transferable
instruments(8) 177 175
21 Other 1 0
22 Official institutions(10) 309,845 303,155
23 Banks' own liabilities 97,068 104,064
24 Demand deposits 3,509 3,530
25 Time deposits(2) 28,001 32,032
26 Other(3) 65,558 68,502
27 Banks' custodial
liabilities(5) 212,777 199,091
28 U.S. Treasury bills and
certificates(6) 155,204 144,158
29 Short-term agency
securities(7) 53,295 51,107
30 Other negotiable and
readily transferable
instruments(8) 4,064 3,325
31 Other 214 501
32 Banks(11) 953,725 966,235
33 Banks' own liabilities 774,936 784,879
34 Unaffiliated foreign
banks 152,956 145,396
35 Demand deposits 16,433 13,027
36 Time deposits(2) 73,017 72,656
37 Other(3) 63,506 59,713
38 Own foreign offices(4) 621,980 639,483
39 Banks' custodial
liabilities(5) 178,789 181,356
40 U.S. Treasury bills and
certificates(6) 7,922 7,022
41 Short-term agency
securities(7) 2,330 2,779
42 Other negotiable and
readily transferable
instruments(8) 26,016 24,062
43 Other 142,521 147,493
44 Other foreigners 223,565 250,018
45 Banks' own liabilities 155,104 162,168
46 Demand deposits 13,903 14,696
47 Time deposits(2) 76,209 80,715
48 Other(3) 64,992 66,757
49 Banks' custodial
liabilities(5) 68,461 87,850
50 U.S. Treasury bills and
certificates(6) 8,400 8,336
51 Short-term agency
securities(7) 15,698 15,198
52 Other negotiable and
readily transferable
instruments(8) 32,912 50,496
53 Other 11,451 13,820
MEMO
54 Negotiable time certificates
of deposit in
custody for
foreigners 24,518 25,372
55 Repurchase agreements(7) 129,671 119,141
AREA
56 Total, all foreigners 1,498,780 1,531,621
57 Foreign countries 1,487,134 1,519,407
58 Europe 429,275 433,388
59 Austria 2,178 2,773
60 Belgium(12) 5,432 5,309
61 Denmark 2,919 3,413
62 Finland 1,286 1,769
63 France 42,758 39,125
64 Germany 30,662 30,569
65 Greece 1,496 1,336
66 Italy 5,770 5,268
67 Luxembourg(12) 12,585 16,296
68 Netherlands 7,265 9,954
69 Norway 8,361 4,806
70 Portugal 1,731 1,949
71 Russia 18,625 19,917
72 Spain 9,500 7,741
73 Sweden 6,738 6,299
74 Switzerland 54,028 65,806
75 Turkey 5,635 4,549
76 United Kingdom 146,942 137,837
77 Channel Islands & Isle of
Man(13) 36,040 36,013
78 Yugoslavia 294 305
79 Other Europe and other
former U.S.S.R.(15) 29,030 32,354
80 Canada 24,253 27,768
81 Latin America 114,511 117,444
82 Argentina 12,878 14,610
83 Brazil 10,571 10,851
84 Chile 5,175 5,449
85 Colombia 4,344 4,618
86 Ecuador 2,179 2,164
87 Guatemala 1,509 1,557
88 Mexico 34,084 34,269
89 Panama 4,014 3,476
90 Peru 1,788 1,767
91 Uruguay 3,365 3,410
92 Venezuela 27,415 27,847
93 Other Latin America(16) 7,189 7,426
94 Caribbean 577,706 606,544
95 Bahamas 174,174 177,533
96 Bermuda 8,401 8,261
97 British West Indies(17) n.a. n.a.
98 Caymen Islands(17) 375,607 402,309
99 Cuba 85 83
100 Jamaica 1,238 899
101 Netherlands Antilles 4,504 4,516
102 Trinidad and Tobago 1,048 1,114
103 Other Caribbean(16) 12,649 11,829
104 Asia 320,174 310,808
China
105 Mainland 39,928 34,692
106 Taiwan 17,891 19,962
107 Hong Kong 29,088 26,587
108 India 4,547 4,113
109 Indonesia 8,605 10,733
110 Israel 8,803 7,095
111 Japan 146,441 144,478
112 Korea (South) 6,096 5,370
113 Philippines 1,428 1,645
114 Thailand 3,252 2,935
115 Middle Eastern
oil-exporting
countries(18) 21,634 20,534
116 Other 32,461 32,664
117 Africa 10,564 10,821
118 Egypt 2,282 2,375
119 Morocco 133 139
120 South Africa 651 791
121 Congo (formerly Zaire) 8 5
122 Oil-exporting
countries(19) 4,593 4,753
123 Other 2,897 2,758
124 Other Countries 10,651 12,634
125 Australia 9,448 11,382
126 New Zealand(20) 424 501
127 All other 779 751
128 Nonmonetary international
and regional
organizations 11,646 12,214
129 International(21) 10,734 10,715
130 Latin American
regional(22) 272 327
131 Other regional(23) 640 620
(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.) Data available beginning January 2001.
(8.) Principally bankers acceptance, commercial paper, and negotiable
time certificates of deposit.
(9.) 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.
(10.) Foreign central banks, foreign central governments, and the Bank
for International Settlements.
(11.) Excludes central banks, which are included in "Official
institutions."
(12.) Before January 2001, combined data reported for
Belgium-Luxembourg.
(13.) Before January 2001, data included in United Kingdom.
(14.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(15.) Includes the Bank for International Settlements and European
Central Bank. Since December 1992, has included all parts of the
former U.S.S.R. (except Russia) and Bosnia, Croatia, and Slovenia.
(16.) Before January 2001, "Other Latin America" and "Other Caribbean"
were reported as combined "Other Latin America and Caribbean."
(17.) Beginning January 2001, Cayman Islands replaced British West
Indies in the data series.
(18.) Comprises Bahrain, Iran, Irag, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(19.) Comprises Algeria, Gabon, Libya, and Nigeria.
(20.) Before January 2001, included in "All other."
(21.) Principally the International Bank for Reconstruction and
Development. Excludes "holdings of dollars" of the International
Monetary Fund.
(22.) Principally the Inter-American Development Bank.
(23.) 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
Area or country 1998 1999 2000
1 Total, all foreigners 734,995 793,139 911,879
2 Foreign countries 731,378 788,576 907,193
3 Europe 233,321 311,686 383,876
4 Austria 1,043 2,643 2,941
5 Belgium(2) 7,187 10,193 5,540
6 Denmark 2,383 1,669 3,312
7 Finland 1,070 2,020 7,402
8 France 15,251 29,142 40,303
9 Germany 15,923 29,205 36,973
10 Greece 575 806 658
11 Italy 7,284 8,496 7,629
12 Luxembourg(2) n.a. n.a. n.a.
13 Netherlands 5,697 11,810 17,294
14 Norway 827 1,000 5,012
15 Portugal 669 1,571 1,382
16 Russia 789 713 517
17 Spain 5,735 3,796 2,848
18 Sweden 4,223 3,264 9,301
19 Switzerland 46,874 79,158 82,383
20 Turkey 1,982 2,617 3,175
21 United Kingdom 106,349 115,971 148,875
22 Channel Islands & Isle
of Man(3) n.a. n.a. n.a.
23 Yugoslavia(4) 53 50 50
24 Other Europe and other
former U.S.S.R.(5) 9,407 7,562 8,281
25 Canada 47,037 37,206 40,068
26 Latin America 79,976 74,040 76,614
27 Argentina 9,552 10,894 11,546
28 Brazil 16,184 16,987 20,567
29 Chile 8,250 6,607 5,816
30 Colombia 6,507 4,524 4,370
31 Ecuador 1,400 760 635
32 Guatemala 1,127 1,135 1,246
33 Mexico 21,212 17,899 17,430
34 Panama 3,584 3,387 2,935
35 Peru 3,275 2,529 2,808
36 Uruguay 1,126 801 675
37 Venezuela 3,089 3,494 3,520
38 Other Latin America(6) 4,670 5,023 5,066
39 Caribbean 262,678 281,128 319,512
40 Bahamas 96,455 99,066 114,090
41 Bermuda 5,011 8,007 9,343
42 British West Indies(7) 153,749 167,189 189,315
43 Caymen Islands(7) n.a. n.a. n.a.
44 Cuba 0 0 0
45 Jamaica 239 295 355
46 Netherlands Antilles 6,779 5,982 5,801
47 Trinidad and Tobago 445 589 608
48 Other Caribbean(6) n.a. n.a. n.a.
49 Asia 98,607 75,143 78,762
China
50 Mainland 1,261 2,110 1,606
51 Taiwan 1,041 1,390 2,247
52 Hong Kong 9,080 5,903 6,715
53 India 1,440 1,738 2,178
54 Indonesia 1,942 1,776 1,914
55 Israel 1,166 1,875 2,729
56 Japan 46,713 28,641 35,109
57 Korea (South) 8,289 9,426 7,784
58 Philippines 1,465 1,410 1,784
59 Thailand 1,807 1,515 1,381
60 Middle Eastern
oil-exporting
countries(8) 16,130 14,267 10,091
61 Other 8,273 5,092 5,224
62 Africa 3,122 2,268 2,151
63 Egypt 257 258 201
64 Morocco 372 352 204
65 South Africa 643 622 366
66 Congo (formerly Zaire) 0 24 0
67 Oil-exporting
countries(9) 936 276 471
68 Other 914 736 909
69 Other countries 6,637 7,105 6,210
70 Australia 6,173 6,824 5,961
71 New Zealand(10) n.a. n.a. n.a.
72 All other 464 281 249
73 Nonmonetary international
and regional
organizations(11) 3,617 4,563 4,686
2000 2001
Area or country
Oct. Nov. Dec. Jan.
1 Total, all foreigners 879,626 882,419 911,879 961,897(r)
2 Foreign countries 874,403 878,579 907,193 958,670(r)
3 Europe 365,709 371,894 383,876 422,170(r)
4 Austria 2,809 2,681 2,941 3,664
5 Belgium(2) 6,044 5,060 5,540 4,635
6 Denmark 3,093 3,462 3,312 3,402
7 Finland 4,927 6,517 7,402 6,772
8 France 34,217 34,547 40,303 43,290
9 Germany 33,017 32,160 36,973 39,744
10 Greece 628 876 658 526
11 Italy 6,482 6,738 7,629 6,310
12 Luxembourg(2) n.a. n.a. n.a. 2,825
13 Netherlands 16,165 15,975 17,294 18,864
14 Norway 4,655 6,159 5,012 2,971
15 Portugal 1,574 1,249 1,382 1,109
16 Russia 647 663 517 518
17 Spain 3,360 2,593 2,848 3,808
18 Sweden 8,504 8,815 9,301 10,353
19 Switzerland 103,818 107,986 82,383 102,545
20 Turkey 2,831 3,260 3,175 3,300
21 United Kingdom 122,829 125,223 148,875 154,339(r)
22 Channel Islands & Isle
of Man(3) n.a. n.a. n.a. 3,127(r)
23 Yugoslavia(4) 49 49 50 50
24 Other Europe and other
former U.S.S.R.(5) 10,060 7,881 8,281 10,018
25 Canada 38,648 39,291 40,068 41,654(r)
26 Latin America 73,692 74,399 76,614 74,463(r)
27 Argentina 11,166 11,468 11,546 11,317
28 Brazil 20,202 19,840 20,567 20,372
29 Chile 5,756 5,772 5,816 6,223
30 Colombia 3,846 3,938 4,370 3,816
31 Ecuador 639 629 635 563
32 Guatemala 1,245 1,247 1,246 1,364
33 Mexico 16,723 16,945 17,430 17,598
34 Panama 2,668 2,839 2,935 2,775
35 Peru 2,653 2,713 2,808 2,689
36 Uruguay 663 677 675 641
37 Venezuela 3,321 3,451 3,520 3,306
38 Other Latin America(6) 4,810 4,880 5,066 3,799(r)
39 Caribbean 300,805 301,544 319,512 320,544(r)
40 Bahamas 100,445 96,718 114,090 109,284(r)
41 Bermuda 8,426 8,324 9,343 8,673
42 British West Indies(7) 184,812 188,994 189,315 n.a.
43 Caymen Islands(7) n.a. n.a. n.a. 187,790(r)
44 Cuba 0 0 0 117
45 Jamaica 379 355 355 357
46 Netherlands Antilles 6,158 6,554 5,801 9,077
47 Trinidad and Tobago 585 599 608 658
48 Other Caribbean(6) n.a. n.a. n.a. 4,588(r)
49 Asia 87,682 83,359 78,762 90,332
China
50 Mainland 1,912 1,644 1,606 1,562
51 Taiwan 3,691 2,483 2,247 1,037
52 Hong Kong 6,540 6,454 6,715 7,458
53 India 1,787 1,736 2,178 1,886
54 Indonesia 2,009 1,958 1,914 2,075
55 Israel 1,551 1,911 2,729 2,343
56 Japan 35,773 36,467 35,109 38,901
57 Korea (South) 18,589 16,189 7,784 18,736
58 Philippines 1,473 1,758 1,784 1,217
59 Thailand 1,046 1,221 1,381 1,170
60 Middle Eastern
oil-exporting
countries(8) 9,867 8,487 10,091 10,549
61 Other 3,444 3,051 5,224 3,398
62 Africa 2,291 1,977 2,151 2,176
63 Egypt 201 184 201 170
64 Morocco 252 235 204 182
65 South Africa 322 341 366 492
66 Congo (formerly Zaire) 0 0 0 19
67 Oil-exporting
countries(9) 656 342 471 582
68 Other 860 875 909 731
69 Other countries 5,576 6,115 6,210 7,331
70 Australia 5,238 5,937 5,961 6,906
71 New Zealand(10) n.a. n.a. n.a. 283
72 All other 338 178 249 142
73 Nonmonetary international
and regional
organizations(11) 5,223 3,840 4,686 3,363
2001
Area or country
Feb. Mar. Apr.(p)
1 Total, all foreigners 918,728(r) 991,105 997,303
2 Foreign countries 915,411(r) 988,329 994,548
3 Europe 406,999(r) 443,367 442,745
4 Austria 2,927 3,101 3,728
5 Belgium(2) 5,321 4,852 4,375
6 Denmark 3,499 3,242 2,954
7 Finland 7,122 7,185 8,901
8 France 44,104 45,555 46,378
9 Germany 39,375 45,764 49,222
10 Greece 466 278 265
11 Italy 6,315 6,976 7,274
12 Luxembourg(2) 2,659 2,569 2,012
13 Netherlands 21,680 22,629 22,698
14 Norway 5,339 8,228 5,296
15 Portugal 1,312 1,426 1,535
16 Russia 561 1,008 813
17 Spain 4,199 4,722 3,445
18 Sweden 10,131 10,286 11,934
19 Switzerland 97,186 96,487 104,808
20 Turkey 3,104 2,698 2,773
21 United Kingdom 140,974(r) 166,367 155,535
22 Channel Islands & Isle
of Man(3) 3,231(r) 3,250 3,310
23 Yugoslavia(4) 49 49 49
24 Other Europe and other
former U.S.S.R.(5) 7,445 6,695 5,440
25 Canada 42,487 43,839 45,097
26 Latin America 74,224(r) 73,905 73,810
27 Argentina 11,612 11,241 11,532
28 Brazil 20,008 20,275 20,278
29 Chile 5,961 5,932 5,628
30 Colombia 3,941 4,022 3,723
31 Ecuador 584 534 522
32 Guatemala 1,176 1,176 1,171
33 Mexico 17,918 17,762 18,012
34 Panama 2,908 3,008 3,162
35 Peru 2,673 2,809 2,770
36 Uruguay 455 366 367
37 Venezuela 3,264 3,239 3,154
38 Other Latin America(6) 3,724(r) 3,541 3,491
39 Caribbean 299,191(r) 325,134 332,963
40 Bahamas 101,284(r) 105,064 112,425
41 Bermuda 7,138 8,186 6,838
42 British West Indies(7) n.a. n.a. n.a.
43 Caymen Islands(7) 177,338(r) 199,345 199,790
44 Cuba 0 n.a. 3
45 Jamaica 331 348 332
46 Netherlands Antilles 7,156 6,921 9,384
47 Trinidad and Tobago 663 710 783
48 Other Caribbean(6) 5,281(r) 4,560 3,408
49 Asia 81,896 87,626 83,562
China
50 Mainland 1,530 1,338 3,171
51 Taiwan 1,365 1,846 2,253
52 Hong Kong 8,506 11,068 10,461
53 India 1,700 1,827 1,675
54 Indonesia 1,987 2,001 2,033
55 Israel 3,249 2,339 2,526
56 Japan 34,778(r) 39,311 32,969
57 Korea (South) 14,147 12,186 13,937
58 Philippines 1,172 1,195 1,835
59 Thailand 1,244 1,258 1,062
60 Middle Eastern
oil-exporting
countries(8) 8,750(r) 9,120 7,936
61 Other 3,468 4,137 3,704
62 Africa 1,899 2,111 2,035
63 Egypt 271 343 308
64 Morocco 185 189 185
65 South Africa 544 586 444
66 Congo (formerly Zaire) 0 0 0
67 Oil-exporting
countries(9) 153 217 267
68 Other 746 776 831
69 Other countries 8,715 12,347 14,336
70 Australia 8,377 12,013 13,832
71 New Zealand(10) 207 208 325
72 All other 131 126 179
73 Nonmonetary international
and regional
organizations(11) 3,317 2,776 2,755
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Before January 2001, combined data reported for
Belgium-Luxembourg.
(3.) Before January 2001, data included in United Kingdom.
(4.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(5.) Includes the Bank for International Settlements and European
Central Bank. Since December 1992, has included all parts of the
former U.S.S.R. (except Russia), and Bosnia, Croatia, and Slovenia.
(6.) Before January 2001, "Other Latin America" and "Other Caribbean"
were reported as combined "Other Latin America and Caribbean."
(7.) Beginning 2001, Cayman Islands replaced British West Indies in
the data series.
(8.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(9.) Comprises Algeria, Gabon, Libya, and Nigeria.
(10.) Before January 2001, included in "All other."
(11.) 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 1998 1999 2000
1 Total 875,891 944,937 1,103,076(r)
2 Banks' claims 734,995 793,139 911,879
3 Foreign public
borrowers 23,542 35,090 38,327
4 Own foreign offices(2) 484,535 529,682 630,105
5 Unaffiliated foreign
banks 106,206 97,186 99,622
6 Deposits 27,230 34,538 23,886
7 Other 78,976 62,648 75,736
8 All other foreigners 120,712 131,181 143,825
9 Claims of banks'
domestic
customers(3) 140,896 151,798 191,197(r)
10 Deposits 79,363 88,006 100,327(r)
11 Negotiable and readily
transferable
instruments(4) 47,914 51,161 78,147
12 Outstanding
collections
and other claims 13,619 12,631 12,723
MEMO
13 Customer liability on
acceptances 4,520 4,553 4,258
14 Banks' loans under
resale
agreements(5) n.a. n.a. n.a.
15 Dollar deposits in banks
abroad, reported
by nonbanking
business
enterprises in the
United States(6) 39,978 31,125 53,153
2000
Type of claim Oct. Nov. Dec.
1 Total ... ... 1,103,076(r)
2 Banks' claims 879,626 882,419 911,879
3 Foreign public
borrowers 49,693 49,373 38,327
4 Own foreign offices(2) 603,873 610,839 630,105
5 Unaffiliated foreign
banks 83,035 82,962 99,622
6 Deposits 23,598 23,756 23,886
7 Other 59,437 59,206 75,736
8 All other foreigners 143,025 139,245 143,825
9 Claims of banks'
domestic
customers(3) ... ... 191,197(r)
10 Deposits ... ... 100,327(r)
11 Negotiable and readily
transferable
instruments(4) ... ... 78,147
12 Outstanding
collections
and other claims ... ... 12,723
MEMO
13 Customer liability on
acceptances ... ... 4,258
14 Banks' loans under
resale
agreements(5) n.a. n.a. n.a.
15 Dollar deposits in banks
abroad, reported
by nonbanking
business
enterprises in the
United States(6) 53,848 55,899 53,153
2001
Type of claim Jan.(r) Feb.(r) Mar. Apr.(p)
1 Total ... ... 1,201,852 ...
2 Banks' claims 961,897 918,728 991,105 997,303
3 Foreign public
borrowers 52,989 54,219 49,122 52,353
4 Own foreign offices(2) 647,273 610,256 670,609 682,201
5 Unaffiliated foreign
banks 102,473 99,088 112,135 102,706
6 Deposits 23,908 25,679 26,233 29,155
7 Other 78,565 73,409 85,902 73,551
8 All other foreigners 159,162 155,165 159,239 160,043
9 Claims of banks'
domestic
customers(3) ... ... 210,747 ...
10 Deposits ... ... 105,554 ...
11 Negotiable and readily
transferable
instruments(4) ... ... 91,827 ...
12 Outstanding
collections
and other claims ... ... 13,366 ...
MEMO
13 Customer liability on
acceptances ... ... 2,995 ...
14 Banks' loans under
resale
agreements(5) 122,720 118,705 134,083 126,871
15 Dollar deposits in banks
abroad, reported
by nonbanking
business
enterprises in the
United States(6) 59,893 70,964 67,204 60,796
(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.) Data available beginning January 2001.
(6.) 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
2000
Maturity, by borrower
and area(2) 1997 1998 1999 June
1 Total 276,550 250,418 267,082 268,905(r)
By borrower
2 Maturity of one year
or less 205,781 186,526 187,894 181,815(r)
3 Foreign public
borrowers 12,081 13,671 22,811 24,849
4 All other foreigners 193,700 172,855 165,083 156,966(r)
5 Maturity of more than
one year 70,769 63,892 79,188 87,090
6 Foreign public
borrowers 8,499 9,839 12,013 15,900
7 All other foreigners 62,270 54,053 67,175 71,190
By area
Maturity of one year
or less
8 Europe 58,294 68,679 80,842 71,492
9 Canada 9,917 10,968 7,859 7,344
10 Latin America and
Caribbean 97,207 81,766 69,498 66,096
11 Asia 33,964 18,007 21,802 29,092(r)
12 Africa 2,211 1,835 1,122 1,520
13 All other(3) 4,188 5,271 6,771 6,271
Maturity of more than
one year
14 Europe 13,240 14,923 22,951 25,417
15 Canada 2,525 3,140 3,192 3,323
16 Latin America and
Caribbean 42,049 33,442 39,051 42,291
17 Asia 10,235 10,018 11,257 12,550
18 Africa 1,236 1,232 1,065 924
19 All other(3) 1,484 1,137 1,672 2,585
2000 2001
Maturity, by borrower
and area(2) Sept. Dec.(r) Mar.(p)
1 Total 263,383 281,526 318,275
By borrower
2 Maturity of one year
or less 174,650 188,731 201,518
3 Foreign public
borrowers 23,646 21,399 23,742
4 All other foreigners 151,004 167,332 177,776
5 Maturity of more than
one year 88,733 92,795 116,757
6 Foreign public
borrowers 16,238 16,258 24,949
7 All other foreigners 72,495 76,537 91,808
By area
Maturity of one year
or less
8 Europe 69,447 73,253 89,639
9 Canada 8,225 8,395 7,069
10 Latin America and
Caribbean 65,881 77,304 72,423
11 Asia 23,791 22,751 20,737
12 Africa 1,594 1,168 970
13 All other(3) 5,712 5,860 10,680
Maturity of more than
one year
14 Europe 27,589 33,483 42,341
15 Canada 3,261 3,312 3,249
16 Latin America and
Caribbean 41,168 41,870 50,222
17 Asia 13,132 10,154 17,176
18 Africa 895 891 763
19 All other(3) 2,688 3,085 3,006
(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
1999
Area or country 1997 1998
Mar. June
1 Total 721.8 1051.6 993.4 941.2
2 G-10 countries and
Switzerland 242.8 217.7 220.4 234.7
3 Belgium and Luxembourg 11.0 10.7 15.6 16.2
4 France 15.4 18.4 21.6 20.7
5 Germany 28.6 30.9 34.7 32.1
6 Italy 15.5 11.5 17.8 16.4
7 Netherlands 6.2 7.8 10.7 13.3
8 Sweden 3.3 2.3 4.0 2.6
9 Switzerland 7.2 8.5 7.8 8.3
10 United Kingdom 113.4 85.4 67.7 85.5
11 Canada 13.7 16.8 15.9 17.1
12 Japan 28.6 25.4 24.6 22.6
13 Other industrialized
countries 65.5 69.0 80.1 79.7
14 Austria 1.5 1.4 2.8 2.8
15 Denmark 2.4 2.2 3.4 2.9
16 Finland 1.3 1.4 1.5 .9
17 Greece 5.1 5.9 6.5 5.9
18 Norway 3.6 3.2 3.1 3.0
19 Portugal .9 1.4 1.4 1.2
20 Spain 12.6 13.7 15.7 16.6
21 Turkey 4.5 4.8 5.2 4.9
22 Other Western Europe 8.3 10.4 10.2 10.3
23 South Africa 2.2 4.4 4.8 4.7
24 Australia 23.1 20.3 25.4 26.6
25 OPEC(2) 26.0 27.1 26.2 26.2
26 Ecuador 1.3 1.3 1.2 1.1
27 Venezuela 2.5 3.2 3.5 3.2
28 Indonesia 6.7 4.7 4.5 5.0
29 Middle East countries 14.4 17.0 16.7 16.5
30 African countries 1.2 1.0 .4 .5
31 Non-OPEC developing
countries 139.2 143.4 146.4 148.6
Latin America
32 Argentina 18.4 23.1 24.4 22.8
33 Brazil 28.6 24.7 24.2 25.2
34 Chile 8.7 8.3 8.6 8.2
35 Colombia 3.4 3.2 3.3 3.1
36 Mexico 17.4 18.9 19.7 18.5
37 Peru 2.0 2.2 2.2 2.1
38 Other 4.1 5.4 5.3 5.5
Asia
China
39 Mainland 3.2 3.0 5.0 5.3
40 Taiwan 9.5 13.3 11.8 12.6
41 India 4.9 5.5 5.5 6.7
42 Israel .7 1.1 1.1 2.0
43 Korea (South) 15.6 13.7 13.7 15.3
44 Malaysia 5.1 5.6 5.9 6.0
45 Philippines 5.7 5.1 5.4 5.7
46 Thailand 5.4 4.7 4.5 4.2
47 Other Asia 4.3 2.9 3.0 2.8
Africa
48 Egypt .9 1.3 1.4 1.4
49 Morocco .6 .5 .5 .5
50 Zaire .0 .0 .0 .0
51 Other Africa(3) .8 1.0 .9 1.0
52 Eastern Europe 9.1 5.5 6.8 5.7
53 Russia(4) 5.1 2.2 2.0 2.1
54 Other 4.0 3.3 4.8 3.7
55 Offshore banking centers 155.1 134.4 114.4 107.5
56 Bahamas 24.2 35.4 22.0 10.4
57 Bermuda 9.8 4.6 3.9 5.7
58 Cayman Islands and other
British West Indies 43.4 12.8 13.9 7.2
59 Netherlands Antilles 14.6 2.6 2.7 1.3
60 Panama(5) 3.1 3.9 3.9 3.9
61 Lebanon .1 .1 .1 .1
62 Hong Kong, China 32.2 23.3 22.8 22.0
63 Singapore 12.7 11.1 13.5 15.2
64 Other(6) .1 .2 .2 .1
65 Miscellaneous and
unallocated(7) 99.1 495.1 430.4 380.2
1999 2000
Area or country
Sept. Dec. Mar. June
1 Total 941.6 945.5 943.7 983.4
2 G-10 countries and
Switzerland 219.4 243.4 272.7 313.7
3 Belgium and Luxembourg 15.7 14.3 14.2 13.8
4 France 20.0 29.0 27.3 32.6
5 Germany 37.4 38.7 37.3 31.5
6 Italy 15.0 18.1 20.0 20.5
7 Netherlands 11.7 12.3 17.1 16.1
8 Sweden 3.6 3.0 3.9 3.5
9 Switzerland 8.8 10.3 10.1 13.8
l0 United Kingdom 63.5 79.3 101.9 138.2
11 Canada 17.9 16.3 17.5 18.3
12 Japan 25.7 22.1 23.5 25.4
13 Other industrialized
countries 71.7 68.4 62.8 75.2
14 Austria 3.0 3.5 2.6 2.8
15 Denmark 2.1 2.6 1.5 1.2
16 Finland .9 .9 .8 1.2
17 Greece 6.6 6.0 5.7 6.8
18 Norway 3.8 3.3 3.0 4.6
19 Portugal 1.2 1.0 1.0 2.0
20 Spain 15.1 12.1 11.3 12.2
21 Turkey 4.7 4.8 5.1 5.6
22 Other Western Europe 9.2 6.8 8.4 8.0
23 South Africa 4.0 3.8 4.9 4.6
24 Australia 21.1 23.5 18.6 26.3
25 OPEC(2) 30.1 31.4 28.9 32.3
26 Ecuador .9 .8 .7 .7
27 Venezuela 3.0 2.8 3.0 2.9
28 Indonesia 4.4 4.2 3.9 4.1
29 Middle East countries 21.4 23.1 21.1 24.0
30 African countries .5 .5 .2 .7
31 Non-OPEC developing
countries 144.6 149.4 154.9 158.3
Latin America
32 Argentina 22.8 23.2 22.4 21.6
33 Brazil 23.5 27.7 28.1 28.3
34 Chile 7.7 7.4 8.2 8.1
35 Colombia 2.7 2.5 2.5 2.4
36 Mexico 19.4 18.7 18.3 20.4
37 Peru 1.8 1.7 1.9 2.1
38 Other 5.5 5.9 6.6 6.9
Asia
China
39 Mainland 3.3 3.6 4.6 3.8
40 Taiwan 12.3 12.0 12.6 12.6
41 India 7.0 7.7 7.9 8.2
42 Israel 1.0 1.8 3.3 1.5
43 Korea (South) 16.0 15.2 17.3 21.1
44 Malaysia 6.1 6.1 6.5 6.8
45 Philippines 5.8 6.2 5.3 5.3
46 Thailand 4.0 4.1 4.3 4.0
47 Other Asia 2.9 2.9 2.6 2.5
Africa
48 Egypt 1.3 1.4 1.4 1.3
49 Morocco .5 .4 .3 .3
50 Zaire .0 .0 .0 .0
51 Other Africa(3) 1.0 1.0 .9 .9
52 Eastern Europe 5.4 5.2 6.3 9.4
53 Russia(4) 2.0 1.6 1.7 1.5
54 Other 3.4 3.6 4.7 7.9
55 Offshore banking centers 122.5 114.5 42.0 47.2
56 Bahamas 18.2 13.7 2.4 .5
57 Bermuda 8.2 8.0 7.3 6.3
58 Cayman Islands and other
British West Indies 6.3 1.3 .0 5.1
59 Netherlands Antilles 9.1 1.7 2.5 2.6
60 Panama(5) 3.9 3.9 3.4 3.3
61 Lebanon .2 .1 .1 .1
62 Hong Kong, China 22.4 21.0 22.2 20.7
63 Singapore 10.6 10.1 4.1 13.6
64 Other(6) .2 .1 .1 .1
65 Miscellaneous and
unallocated(7) 391.2 387.9 376.1 342.1
2000 2001
Area or country
Sept. Dec. Mar.
1 Total 955.5 1034.9 1152.0
2 G-10 countries and
Switzerland 280.9 306.4 337.1
3 Belgium and Luxembourg 13.0 14.3 15.3
4 France 29.1 29.9 30.1
5 Germany 37.7 45.2 45.2
6 Italy 18.6 21.3 20.3
7 Netherlands 17.6 18.7 18.9
8 Sweden 4.3 3.7 4.7
9 Switzerland 10.9 13.5 13.9
l0 United Kingdom 112.9 119.8 145.4
11 Canada 18.7 16.9 15.4
12 Japan 18.1 23.1 28.0
13 Other industrialized
countries 73.8 75.3 82.1
14 Austria 3.5 4.1 3.8
15 Denmark 1.8 1.9 3.1
16 Finland 2.8 1.5 1.4
17 Greece 6.4 8.3 4.1
18 Norway 8.5 8.3 10.2
19 Portugal 1.5 2.0 1.9
20 Spain 10.5 10.6 12.6
21 Turkey 5.6 6.0 5.2
22 Other Western Europe 8.4 6.7 7.4
23 South Africa 4.2 3.7 4.1
24 Australia 20.5 22.2 28.2
25 OPEC(2) 31.8 29.6 28.2
26 Ecuador .6 .6 .6
27 Venezuela 2.9 2.5 2.7
28 Indonesia 4.4 4.6 4.4
29 Middle East countries 22.7 21.1 20.1
30 African countries 1.2 .8 .5
31 Non-OPEC developing
countries 149.6 145.7 144.6
Latin America
32 Argentina 21.4 21.4 20.8
33 Brazil 28.6 28.8 29.4
34 Chile 7.3 7.6 7.4
35 Colombia 2.4 2.4 2.4
36 Mexico 17.5 15.7 16.7
37 Peru 2.1 2.0 2.0
38 Other 6.4 6.5 8.7
Asia
China
39 Mainland 3.4 2.9 3.4
40 Taiwan 12.8 10.8 11.1
41 India 5.8 9.1 6.5
42 Israel 1.1 2.7 2.2
43 Korea (South) 20.8 15.1 19.3
44 Malaysia 6.9 7.1 6.5
45 Philippines 4.7 5.1 5.2
46 Thailand 3.9 4.0 4.2
47 Other Asia 2.3 2.4 2.2
Africa
48 Egypt 1.1 1.1 1.2
49 Morocco .4 .3 .3
50 Zaire .0 .0 .0
51 Other Africa(3) .8 .7 .7
52 Eastern Europe 9.0 10.1 9.5
53 Russia(4) 1.4 1.0 1.5
54 Other 7.6 9.1 8.0
55 Offshore banking centers 53.4 61.8 57.9
56 Bahamas 9.3 13.5 7.0
57 Bermuda 6.3 9.0 7.9
58 Cayman Islands and other
British West Indies 5.9 14.6 14.3
59 Netherlands Antilles 1.9 1.9 2.9
60 Panama(5) 2.5 3.2 3.8
61 Lebanon .1 .1 .1
62 Hong Kong, China 20.6 18.8 21.7
63 Singapore 12.6 15.2 14.5
64 Other(6) .1 .2 .1
65 Miscellaneous and
unallocated(7) 351.1 391.2 472.7
(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 1997 1998 1999
area or country
1 Total 57,382 46,570 53,044
2 Payable in dollars 41,543 36,668 37,605
3 Payable in foreign currencies 15,839 9,902 15,415
By type
4 Financial liabilities 26,877 19,255 27,980
5 Payable in dollars 12,630 10,371 13,883
6 Payable in foreign currencies 14,247 8,884 14,097
7 Commercial liabilities 30,505 27,315 25,064
8 Trade payables 10,904 10,978 12,857
9 Advance receipts and other
liabilities 19,601 16,337 12,207
10 Payable in dollars 28,913 26,297 23,722
11 Payable in foreign currencies 1,592 1,018 1,318
By area or country
Financial liabilities
12 Europe 18,027 12,589 23,241
13 Belgium and Luxembourg 186 79 31
14 France 1,425 1,097 1,659
15 Germany 1,958 2,063 1,974
16 Netherlands 494 1,406 1,996
17 Switzerland 561 155 147
18 United Kingdom 11,667 5,980 16,521
19 Canada 2,374 693 284
20 Latin America and Caribbean 1,386 1,495 892
21 Bahamas 141 7 1
22 Bermuda 229 101 5
23 Brazil 143 152 126
24 British West Indies 604 957 492
25 Mexico 26 59 25
26 Venezuela 1 2 0
27 Asia 4,387 3,785 3,437
28 Japan 4,102 3,612 3,142
29 Middle Eastern oil-exporting
countries(1) 27 0 4
30 Africa 60 28 28
31 Oil-exporting countries(2) 0 0 0
32 All other(3) 643 665 98
Commercial liabilities
33 Europe 10,228 10,030 9,262
34 Belgium and Luxembourg 666 278 140
35 France 764 920 672
36 Germany 1,274 1,392 1,131
37 Netherlands 439 429 507
38 Switzerland 375 499 626
39 United Kingdom 4,086 3,697 3,071
40 Canada 1,175 1,390 1,775
41 Latin America and Caribbean 2,176 1,618 2,310
42 Bahamas 16 14 22
43 Bermuda 203 198 152
44 Brazil 220 152 145
45 British West Indies 12 10 48
46 Mexico 565 347 887
47 Venezuela 261 202 305
48 Asia 14,966 12,342 9,886
49 Japan 4,500 3,827 2,609
50 Middle Eastern oil-exporting
countries(1) 3,111 2,852 2,551
51 Africa 874 794 950
52 Oil-exporting countries(2) 408 393 499
53 Other(3) 1,086 1,141 881
1999 2000
Type of liability, and
area or country
Dec. Mar. June
1 Total 53,044 53,489 70,534
2 Payable in dollars 37,605 35,614 47,864
3 Payable in foreign currencies 15,415 17,875 22,670
By type
4 Financial liabilities 27,980 29,180 44,068
5 Payable in dollars 13,883 12,858 22,803
6 Payable in foreign currencies 14,097 16,322 21,265
7 Commercial liabilities 25,064 24,309 26,466
8 Trade payables 12,857 12,401 13,764
9 Advance receipts and other
liabilities 12,207 11,908 12,702
10 Payable in dollars 23,722 22,756 25,061
11 Payable in foreign currencies 1,318 1,553 1,405
By area or country
Financial liabilities
12 Europe 23,241 24,050 30,332
13 Belgium and Luxembourg 31 4 163
14 France 1,659 1,849 1,702
15 Germany 1,974 1,880 1,671
16 Netherlands 1,996 1,970 2,035
17 Switzerland 147 97 137
18 United Kingdom 16,521 16,579 21,463
19 Canada 284 313 714
20 Latin America and Caribbean 892 846 2,874
21 Bahamas 1 1 78
22 Bermuda 5 1 1,016
23 Brazil 126 128 146
24 British West Indies 492 489 463
25 Mexico 25 22 26
26 Venezuela 0 0 0
27 Asia 3,437 3,275 9,453
28 Japan 3,142 2,985 6,024
29 Middle Eastern oil-exporting
countries(1) 4 4 5
30 Africa 28 28 33
31 Oil-exporting countries(2) 0 0 0
32 All other(3) 98 668 662
Commercial liabilities
33 Europe 9,262 8,646 9,293
34 Belgium and Luxembourg 140 78 178
35 France 672 539 711
36 Germany 1,131 914 948
37 Netherlands 507 648 562
38 Switzerland 626 536 565
39 United Kingdom 3,071 2,661 2,982
40 Canada 1,775 2,024 2,053
41 Latin America and Caribbean 2,310 2,286 2,607
42 Bahamas 22 9 10
43 Bermuda 152 287 300
44 Brazil 145 115 119
45 British West Indies 48 23 22
46 Mexico 887 805 1,073
47 Venezuela 305 193 239
48 Asia 9,886 9,681 10,965
49 Japan 2,609 2,274 2,200
50 Middle Eastern oil-exporting
countries(1) 2,551 2,308 3,489
51 Africa 950 943 950
52 Oil-exporting countries(2) 499 536 575
53 Other(3) 881 729 598
2000 2001
Type of liability, and
area or country
Sept. Dec. Mar.(p)
1 Total 76,644 73,904(r) 74,484
2 Payable in dollars 51,451 48,931(r) 46,870
3 Payable in foreign currencies 25,193 24,973(r) 27,614
By type
4 Financial liabilities 49,895 47,419 48,461
5 Payable in dollars 26,159 25,246 23,369
6 Payable in foreign currencies 23,736 22,173 25,092
7 Commercial liabilities 26,749 26,485(r) 26,023
8 Trade payables 13,918 14,293(r) 12,657
9 Advance receipts and other
liabilities 12,831 12,192(r) 13,366
10 Payable in dollars 25,292 23,685(r) 23,501
11 Payable in foreign currencies 1,457 2,800(r) 2,522
By area or country
Financial liabilities
12 Europe 36,175 34,172 37,990
13 Belgium and Luxembourg 169 147 112
14 France 1,299 1,480 1,557
15 Germany 2,132 2,168 2,745
16 Netherlands 2,040 2,016 2,169
17 Switzerland 178 104 116
18 United Kingdom 28,601 26,362 29,241
19 Canada 249 411 719
20 Latin America and Caribbean 3,447 4,125 3,651
21 Bahamas 105 6 18
22 Bermuda 1,182 1,739 1,837
23 Brazil 132 148 26
24 British West Indies 501 406 410
25 Mexico 35 26 32
26 Venezuela 0 2 1
27 Asia 9,320 7,965 5,389
28 Japan 4,782 6,216 4,779
29 Middle Eastern oil-exporting
countries(1) 7 11 15
30 Africa 48 52 38
31 Oil-exporting countries(2) 0 0 0
32 All other(3) 656 694 674
Commercial liabilities
33 Europe 9,411 9,629(r) 8,950
34 Belgium and Luxembourg 201 293 251
35 France 716 979 689
36 Germany 1,023 1,047(r) 982
37 Netherlands 424 300(r) 373
38 Switzerland 647 502 656
39 United Kingdom 2,951 2,847(r) 2,619
40 Canada 1,889 1,933(r) 1,627
41 Latin America and Caribbean 2,443 2,381 2,166
42 Bahamas 15 31 5
43 Bermuda 377 281 280
44 Brazil 167 114 239
45 British West Indies 19 76 64
46 Mexico 1,079 841 792
47 Venezuela 124 284 243
48 Asia 11,133 10,983(r) 11,558
49 Japan 1,998 2,757(r) 2,432
50 Middle Eastern oil-exporting
countries(1) 3,706 2,832(r) 3,359
51 Africa 1,220 948(r) 1,072
52 Oil-exporting countries(2) 663 483(r) 566
53 Other(3) 653 614(r) 650
(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 area or country 1997 1998 1999
1 Total 68,128 77,462 76,669
2 Payable in dollars 62,173 72,171 69,170
3 Payable in foreign currencies 5,955 5,291 7,472
By type
4 Financial claims 36,959 46,260 40,231
5 Deposits 22,909 30,199 18,566
6 Payable in dollars 21,060 28,549 16,373
7 Payable in foreign currencies 1,849 1,650 2,193
8 Other financial claims 14,050 16,061 21,665
9 Payable in dollars 11,806 14,049 18,593
10 Payable in foreign currencies 2,244 2,012 3,072
11 Commercial claims 31,169 31,202 36,438
12 Trade receivables 27,536 27,202 32,629
13 Advance payments and other claims 3,633 4,000 3,809
14 Payable in dollars 29,307 29,573 34,204
15 Payable in foreign currencies 1,862 1,629 2,207
By area or country
Financial claims
16 Europe 14,999 12,294 13,023
17 Belgium and Luxembourg 406 661 529
18 France 1,015 864 967
19 Germany 427 304 504
20 Netherlands 677 875 1,229
21 Switzerland 434 414 643
22 United Kingdom 10,337 7,766 7,561
23 Canada 3,313 2,503 2,553
24 Latin America and Caribbean 15,543 27,714 18,206
25 Bahamas 2,308 403 1,593
26 Bermuda 108 39 11
27 Brazil 1,313 835 1,476
28 British West Indies 10,462 24,388 12,099
29 Mexico 537 1,245 1,798
30 Venezuela 36 55 48
31 Asia 2,133 3,027 5,457
32 Japan 823 1,194 3,262
33 Middle Eastern oil-exporting
countries(1) 11 9 23
34 Africa 319 159 286
35 Oil-exporting countries(2) 15 16 15
36 All other(3) 652 563 706
Commercial claims
37 Europe 12,120 13,246 16,389
38 Belgium and Luxembourg 328 238 316
39 France 1,796 2,171 2,236
40 Germany 1,614 1,822 1,960
41 Netherlands 597 467 1,429
42 Switzerland 554 483 610
43 United Kingdom 3,660 4,769 5,827
44 Canada 2,660 2,617 2,757
45 Latin America and Caribbean 5,750 6,296 5,959
46 Bahamas 27 24 20
47 Bermuda 244 536 390
48 Brazil 1,162 1,024 905
49 British West Indies 109 104 181
50 Mexico 1,392 1,545 1,678
51 Venezuela 576 401 439
52 Asia 8,713 7,192 9,165
53 Japan 1,976 1,681 2,074
54 Middle Eastern oil-exporting
countries(1) 1,107 1,135 1,625
55 Africa 680 711 631
56 Oil-exporting countries(2) 119 165 171
57 Other(3) 1,246 1,140 1,537
1999 2000
Type of claim, and area or country Dec. Mar. June
1 Total 76,669 84,266 80,731(r)
2 Payable in dollars 69,170 74,331 72,300(r)
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 36,428(r)
12 Trade receivables 32,629 31,443 31,283(r)
13 Advance payments and other claims 3,809 5,025 5,145
14 Payable in dollars 34,204 33,230 34,555(r)
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) 23 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 15,935(r)
38 Belgium and Luxembourg 316 271 425
39 France 2,236 2,520 2,693(r)
40 Germany 1,960 2,034 1,905(r)
41 Netherlands 1,429 1,337 1,242
42 Switzerland 610 611 562(r)
43 United Kingdom 5,827 5,354 4,937(r)
44 Canada 2,757 3,088 3,250
45 Latin America and Caribbean 5,959 5,899 5,792
46 Bahamas 20 15 48
47 Bermuda 390 404 381
48 Brazil 905 849 894
49 British West Indies 181 95 51
50 Mexico 1,678 1,529 1,565
51 Venezuela 439 435 466
52 Asia 9,165 9,101 9,172(r)
53 Japan 2,074 2,082 1,881(r)
54 Middle Eastern oil-exporting
countries(1) 1,625 1,533 1,241
55 Africa 631 716 766
56 Oil-exporting countries(2) 171 82 160
57 Other(3) 1,537 1,546 1,513
2000 2001
Type of claim, and area or country Sept. Dec. Mar.(p)
1 Total 94,803 90,157(r) 109,443
2 Payable in dollars 82,872 79,558(r) 96,230
3 Payable in foreign currencies 11,931 10,599(r) 13,213
By type
4 Financial claims 58,303 53,031 74,458
5 Deposits 30,928 23,374 29,119
6 Payable in dollars 27,974 21,015 26,944
7 Payable in foreign currencies 2,954 2,359 2,175
8 Other financial claims 27,375 29,657 45,339
9 Payable in dollars 20,541 25,142 37,480
10 Payable in foreign currencies 6,834 4,515 7,859
11 Commercial claims 36,500 37,126(r) 34,985
12 Trade receivables 31,530 33,104(r) 30,493
13 Advance payments and other claims 4,970 4,022(r) 4,492
14 Payable in dollars 34,357 33,401(r) 31,806
15 Payable in foreign currencies 2,143 3,725(r) 3,179
By area or country
Financial claims
16 Europe 23,706 23,136 31,946
17 Belgium and Luxembourg 304 296 430
18 France 1,477 1,206 3,149
19 Germany 696 848 1,405
20 Netherlands 2,486 1,396 2,313
21 Switzerland 626 699 605
22 United Kingdom 16,191 15,900 21,070
23 Canada 7,517 4,576 4,854
24 Latin America and Caribbean 21,691 19,317 28,674
25 Bahamas 1,358 1,353 561
26 Bermuda 22 19 1,729
27 Brazil 1,568 1,827 1,564
28 British West Indies 15,722 12,596 16,366
29 Mexico 2,280 2,448 2,459
30 Venezuela 101 87 31
31 Asia 4,002 4,697 7,444
32 Japan 1,726 1,631 4,065
33 Middle Eastern oil-exporting
countries(1) 85 80 70
34 Africa 284 411 423
35 Oil-exporting countries(2) 3 57 42
36 All other(3) 1,103 894 1,117
Commercial claims
37 Europe 16,486 15,938 14,534
38 Belgium and Luxembourg 393 452 395
39 France 2,921 3,095 3,480
40 Germany 2,159 1,982 1,763
41 Netherlands 1,310 1,729 757
42 Switzerland 684 763 666
43 United Kingdom 5,193 4,502 4,031
44 Canada 2,953 3,502(r) 3,393
45 Latin America and Caribbean 5,788 5,851(r) 5,306
46 Bahamas 75 37 20
47 Bermuda 387 376 418
48 Brazil 981 957(r) 1,057
49 British West Indies 55 137 131
50 Mexico 1,612 1,507 1,418
51 Venezuela 379 328(r) 292
52 Asia 8,986 9,630(r) 9,544
53 Japan 2,074 2,796(r) 2,575
54 Middle Eastern oil-exporting
countries(1) 1,199 1,024 966
55 Africa 895 672(r) 773
56 Oil-exporting countries(2) 392 180(r) 165
57 Other(3) 1,392 1,572(r) 1,435
(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
2001
Transaction, and area
or country 1999 2000 Jan.-Apr.
U.S. corporate securities
STOCKS
1 Foreign purchases 2,340,659 3,605,196 1,097,283
2 Foreign sales 2,233,137 3,430,306 1,048,333
3 Net purchases,
or sales (-) 107,522 174,890 48,950
4 Foreign countries 107,578 174,903 48,837
5 Europe 98,060 164,656 37,733
6 France 3,813 5,727 3,260
7 Germany 13,410 31,752 3,974
8 Netherlands 8,083 4,915 5,487
9 Switzerland 5,650 11,960 2,222
10 United Kingdom 42,902 58,736 12,065
11 Channel Islands & Isle
of Man(1) 0 0 -299
12 Canada -335 5,956 5,993
13 Latin America and
Caribbean 5,187 -17,812 -4,164
14 Middle East(2) -1,066 9,189 96
15 Other Asia 4,445 12,494 10,198
16 Japan 5,723 2,070 3,517
17 Africa 372 415 -261
18 Other countries 915 5 -758
19 Nonmonetary international
and regional
organizations -56 -11 113
BONDS(3)
20 Foreign purchases 854,692 1,206,662 605,411
21 Foreign sales 602,100 871,418 455,750
22 Net purchases,
or sales (-) 252,592 335,244 149,661
23 Foreign countries 252,994 335,348 149,474
24 Europe 140,674 179,706 84,036
25 France 1,870 2,216 2,846
26 Germany 7,723 4,067 6,352
27 Netherlands 2,446 1,130 1,211
28 Switzerland 4,553 3,833 3,376
29 United Kingdom 106,344 140,152 61,954
30 Channel Islands & Isle
of Man(1) 0 0 644
31 Canada 6,043 13,287 2,874
32 Latin America and
Caribbean 58,783 59,443 27,088
33 Middle East(1) 1,979 2,076 1,922
34 Other Asia 42,817 78,280 32,813
35 Japan 17,541 38,842 7,863
36 Africa 1,411 938 80
37 Other countries 1,287 1,618 661
38 Nonmonetary international
and regional
organizations -402 -70 188
Foreign securities
39 Stocks, net purchases,
or sales (-) 15,640 -9,297 -27,230
40 Foreign purchases 1,177,303 1,802,452 534,308
41 Foreign sales 1,161,663 1,811,749 561,538
42 Bonds, net purchases,
or sales (-) -5,676 -3,878 4,353
43 Foreign purchases 798,267 959,408 437,783
44 Foreign sales 803,943 963,286 433,430
45 Net purchases, or
sales (-), of stocks
and bonds 9,964 -13,175 -22,877
46 Foreign countries 9,679 -13,311 -22,310
47 Europe 59,247 -23,609 -15,873
48 Canada -999 -3,856 1,838
49 Latin America and
Caribbean -4,726 -15,116 -995
50 Asia -42,961 25,975 -6,732
51 Japan -43,637 21,886 -8,691
52 Africa 710 947 37
53 Other countries -1,592 2,348 -585
54 Nonmonetary international
and regional
organizations 285 150 -567
2000
Transaction, and area
or country Oct. Nov. Dec.
U.S. corporate securities
STOCKS
1 Foreign purchases 339,995 284,909 286,161
2 Foreign sales 323,659 275,855 275,034
3 Net purchases,
or sales (-) 16,336 9,054 11,127
4 Foreign countries 16,338 9,068 11,145
5 Europe 14,040 7,485 10,779
6 France 1,757 408 40
7 Germany 1,383 988 777
8 Netherlands -135 323 1,691
9 Switzerland 488 -598 -684
10 United Kingdom 6,283 3,210 7,773
11 Channel Islands & Isle
of Man(1) 0 0 0
12 Canada 194 1,477 1,468
13 Latin America and
Caribbean -4,400 -2,979 -2,759
14 Middle East(2) 754 340 277
15 Other Asia 5,840 3,310 1,451
16 Japan 2,640 662 1,615
17 Africa -27 80 -45
18 Other countries -63 -645 -26
19 Nonmonetary international
and regional
organizations -2 -14 -18
BONDS(3)
20 Foreign purchases 103,028 114,686 117,904
21 Foreign sales 71,686 77,596 90,143
22 Net purchases,
or sales (-) 31,342 37,090 27,761
23 Foreign countries 31,356 37,224 27,759
24 Europe 16,965 16,522 16,560
25 France 347 272 138
26 Germany 433 537 -78
27 Netherlands 848 183 275
28 Switzerland 350 483 -89
29 United Kingdom 12,503 12,952 12,825
30 Channel Islands & Isle
of Man(1) 0 0 0
31 Canada 897 1,179 414
32 Latin America and
Caribbean 5,018 6,600 4,126
33 Middle East(1) -54 437 1,077
34 Other Asia 8,215 11,839 5,535
35 Japan 3,690 7,435 2,932
36 Africa 58 25 76
37 Other countries 257 622 -29
38 Nonmonetary international
and regional
organizations -14 -134 2
Foreign securities
39 Stocks, net purchases,
or sales (-) 3,011 5,563 -3,195
40 Foreign purchases 152,872 141,600 135,417
41 Foreign sales 149,861 136,037 138,612
42 Bonds, net purchases,
or sales (-) -3,443 8,434 -1,175
43 Foreign purchases 98,519 94,938 83,721
44 Foreign sales 101,962 86,504 84,896
45 Net purchases, or
sales (-), of stocks
and bonds -432 13,997 -4,370
46 Foreign countries -599 13,758 -3,951
47 Europe -3,879 7,373 -4,452
48 Canada 1,813 574 -1,357
49 Latin America and
Caribbean 1,010 -521 -205
50 Asia -73 5,742 1,872
51 Japan -1,262 2,067 1,824
52 Africa 14 -28 -4
53 Other countries 516 618 195
54 Nonmonetary international
and regional
organizations 167 239 -419
2001
Transaction, and area
or country Jan. Feb. Mar. Apr.(p)
U.S. corporate securities
STOCKS
1 Foreign purchases 301,650 259,101 285,528 251,004
2 Foreign sales 277,706 249,423 277,473 243,731
3 Net purchases,
or sales (-) 23,944 9,678 8,055 7,273
4 Foreign countries 23,906 9,707 7,929 7,295
5 Europe 12,329 13,713 7,983 3,708
6 France 243 1,869 1,041 107
7 Germany 2,380 1,217 174 203
8 Netherlands 2,206 1,379 790 1,112
9 Switzerland 70 775 1,237 140
10 United Kingdom 3,064 5,120 3,280 601
11 Channel Islands & Isle
of Man(1) -13 -32 -110 -144
12 Canada 1,490 468 2,464 1,571
13 Latin America and
Caribbean 5,445 -4,927 -3,516 -1,166
14 Middle East(2) -554 264 442 -56
15 Other Asia 5,565 355 684 3,594
16 Japan 1,002 -672 512 2,675
17 Africa -362 52 93 -44
18 Other countries -7 -218 -221 -312
19 Nonmonetary international
and regional
organizations 38 -29 126 -22
BONDS(3)
20 Foreign purchases 138,294 147,852(r) 170,098 149,167
21 Foreign sales 111,327 108,792 124,000 111,631
22 Net purchases,
or sales (-) 26,967 39,060(r) 46,098 37,536
23 Foreign countries 27,065 39,019(r) 45,880 37,510
24 Europe 17,397 22,064(r) 26,420 18,155
25 France 405 660 1,262 519
26 Germany 2,450 1,352 911 1,639
27 Netherlands 664 496 92 -41
28 Switzerland 321 782 1,564 709
29 United Kingdom 11,251 17,893(r) 20,347 12,463
30 Channel Islands & Isle
of Man(1) 107 118 101 318
31 Canada 376 1,031 309 1,158
32 Latin America and
Caribbean 4,969 8,009 6,564 7,546
33 Middle East(1) 726 443 624 129
34 Other Asia 3,514 7,162 11,683 10,454
35 Japan 910 914 5,570 469
36 Africa 29 46 38 -33
37 Other countries 54 264 242 101
38 Nonmonetary international
and regional
organizations -97 41 218 26
Foreign securities
39 Stocks, net purchases,
or sales (-) -2,940 -2,491 -14,540 -7,259
40 Foreign purchases 148,111 130,972 134,166 121,059
41 Foreign sales 151,051 133,463 148,706 128,318
42 Bonds, net purchases,
or sales (-) -1,360 1,994(r) -1,450 5,169
43 Foreign purchases 120,666 104,235(r) 117,444 95,438
44 Foreign sales 122,026 102,241(r) 118,894 90,269
45 Net purchases, or
sales (-), of stocks
and bonds -4,300 -497(r) -15,990 -2,090
46 Foreign countries -4,011 -536(r) -15,685 -2,078
47 Europe -4,878 -1,421(r) -13,487 3,913
48 Canada 767 1,588 876 -1,393
49 Latin America and
Caribbean 863 811 34 -2,703
50 Asia -1,005 -1,148 -3,221 -1,358
51 Japan 164 -1,963 -3,866 -3,026
52 Africa -70 -15 25 97
53 Other countries 312 -351 88 -634
54 Nonmonetary international
and regional
organizations -289 39 -305 -12
(1.) Before January 2001, these data were included in United Kingdom.
(2.) Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq,
Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates
(Trucial States).
(3.) 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
2001
Area or country 1999 2000 Jan.-Apr.
1 Total estimated -9,953 -53,790 -10,825
2 Foreign countries -10,518 -53,329 -10,135
3 Europe -38,228 -50,704 -5,573
4 Belgium(2) -81 73 88
5 Germany 2,285 -7,304 -1,048
6 Luxembourg(2) 0 0 223
7 Netherlands 2,122 2,140 -4,177
8 Sweden 1,699 1,082 -1,619
9 Switzerland -1,761 -10,326 912
10 United Kingdom -20,232 -33,669 3,344
11 Channel Islands and Isle
of Man(3) 0 0 25
12 Other Europe and former
U.S.S.R. -22,260 -2,700 -1,525
13 Canada 7,348 -308 -1,542
14 Latin America and Caribbean -7,523 -4,914 -574,505
15 Venezuela 362 1,288 229
16 Other Latin America
and Caribbean 1,661 -11,581 7,321
17 Netherlands Antilles -9,546 5,379 -7,791
18 Asia 29,359 1,639 -3,259
19 Japan 20,102 10,580 -1,156
20 Africa -3,021 -414 -88
21 Other 1,547 1,372 568
22 Nonmonetary international
and regional
organizations 565 -461 -690
23 International 190 -483 -693
24 Latin American Caribbean
regional 666 76 32
MEMO
25 Foreign countries -10,518 -53,329 -10,135
26 Official institutions -9,861 -6,302 -5,898
27 Other foreign -657 -47,027 -4,237
Oil-exporting countries
28 Middle East(4) 2,207 3,483 -2,518
29 Africa(5) 0 0 -4
2000
Area or country Oct. Nov. Dec.
1 Total estimated -3,037 -14,106 -9,789
2 Foreign countries -3,222 -13,959 -9,904
3 Europe -3,707 -10,991 -6,850
4 Belgium(2) 320 53 -96
5 Germany 1,424 -2,185 -1,065
6 Luxembourg(2) 0 0 0
7 Netherlands 183 264 -1,622
8 Sweden -118 -104 328
9 Switzerland -57 -301 64
10 United Kingdom -3,793 -6,035 -4,199
11 Channel Islands and Isle
of Man(3) 0 0 0
12 Other Europe and former
U.S.S.R. -1,666 -2,683 -260
13 Canada 160 -1,173 -1,492
14 Latin America and Caribbean 3,963 -507 -245
15 Venezuela 152 251 300
16 Other Latin America
and Caribbean 3,030 -1,262 -1,746
17 Netherlands Antilles 781 504 1,201
18 Asia -4,688 -1,289 -458
19 Japan 1,608 4,445 -3,855
20 Africa -6 -16 -44
21 Other 1,056 17 -815
22 Nonmonetary international
and regional
organizations 185 -147 115
23 International 39 -146 24
24 Latin American Caribbean
regional 28 -1 6
MEMO
25 Foreign countries -3,222 -13,959 -9,904
26 Official institutions -7,150 -4,967 1,068
27 Other foreign 3,928 -8,992 -10,972
Oil-exporting countries
28 Middle East(4) -724 -888 48
29 Africa(5) 0 0 0
2001
Area or country Jan. Feb. Mar. Apr.(p)
1 Total estimated -9,064 7,011 4,975 -13,747
2 Foreign countries -8,531 6,972 4,977 -13,553
3 Europe -5,000 -337 5,363 -5,599
4 Belgium(2) 0 0 -152 240
5 Germany -873 -3,180 1,236 1,769
6 Luxembourg(2) 411 9 -401 204
7 Netherlands -793 2,808 -3,704 -2,488
8 Sweden 218 -1,039 -993 195
9 Switzerland 755 161 -120 116
10 United Kingdom -2,695 937 9,838 -4,736
11 Channel Islands and Isle
of Man(3) -98 -68 222 -31
12 Other Europe and former
U.S.S.R. -2,089 564 -868 -563
13 Canada -2,067 -554 -169 1,248
14 Latin America and Caribbean 2,407 3,620 827 7,095
15 Venezuela 227 292 -142 -148
16 Other Latin America
and Caribbean 3,261 4,279 3,009 -3,228
17 Netherlands Antilles -1,081 -951 -2,040 -3,719
18 Asia -4,641 4,387 -41 2,964
19 Japan -4,261 1,468 -1,426 3,063
20 Africa -91 36 -60 27
21 Other 861 -180 -943 830
22 Nonmonetary international
and regional
organizations -533 39 -2 -194
23 International -275 -194 -11 -213
24 Latin American Caribbean
regional 1 -4 10 25
MEMO
25 Foreign countries -8,531 6,972 4,977 -13,553
26 Official institutions 2,226 667 249 -9,040
27 Other foreign -10,757 6,305 4,728 -4,513
Oil-exporting countries
28 Middle East(4) -176 -719 -1,240 -383
29 Africa(5) -6 0 2 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.) Before January 2001, combined data reported for Belgium
and Luxembourg.
(3.) Before January 2001, these data were included in United Kingdom.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(5.) 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 1998 1999 2000
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar(2) 62.91 64.54 58.15
2 Austria/schilling 12.379 n.a. n.a.
3 Belgium/franc 36.31 n.a. n.a.
4 Brazil/real 1.1605 1.8207 1.8301
5 Canada/dollar 1.4836 1.4858 1.4855
6 China, P.R./yuan 8.3008 8.2783 8.2784
7 Denmark/krone 6.7030 6.9900 8.0953
8 European Monetary
Union/euro(3) n.a. 1.0653 0.9232
9 Finland/markka 5.3473 n.a. n.a.
10 France/franc 5.8995 n.a. n.a.
11 Germany/deutsche mark 1.7597 n.a. n.a.
12 Greece/drachma 295.70 306.30 365.92
13 Hong Kong/dollar 7.7467 7.7594 7.7924
14 India/rupee 41.36 43.13 45.00
15 Ireland/pound(2) 142.48 n.a. n.a.
16 Italy/lira 1,736.85 n.a. n.a.
17 Japan/yen 130.99 113.73 107.80
18 Malaysia/ringgit 3.9254 3.8000 3.8000
19 Mexico/peso 9.152 9.553 9.459
20 Netherlands/guilder 1.9837 n.a. n.a.
21 New Zealand/dollar(2) 53.61 52.94 45.68
22 Norway/krone 7.5521 7.8071 8.8131
23 Portugal/escudo 180.25 n.a. n.a.
24 Singapore/dollar 1.6722 1.6951 1.7250
25 South Africa/rand 5.5417 6.1191 6.9468
26 South Korea/won 1,400.40 1,189.84 1,130.90
27 Spain/peseta 149.41 n.a. n.a.
28 Sri Lanka/rupee 65.006 70.868 76.964
29 Sweden/krona 7.9522 8.2740 9.1735
30 Switzerland/franc 1.4506 1.5045 1.6904
31 Taiwan/dollar 33.547 32.322 31.260
32 Thailand/baht 41.262 37.887 40.210
33 United Kingdom/pound(2) 165.73 161.72 151.56
34 Venezuela/bolivar 548.39 606.82 680.52
Indexes(4)
NOMINAL
35 Broad (January
1997=100)(5) 116.48 116.87 119.93
36 Major currencies
(March 1973=100)(6) 95.79 94.07 98.34
37 Other important trading
partners (January
1997=100)(7) 126.03 129.94 130.26
REAL
38 Broad (March 1973=100)(5) 99.49(r) 98.81(r) 102.49(r)
39 Major currencies (March
1973=100)(6) 97.23 96.66 102.85
40 Other important trading
partners (March
1973=100)(7) 108.86(r) 107.98(r) 108.44(r)
2001
Item Jan. Feb. Mar.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar(2) 55.52 53.38 50.31
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 1.9561 2.0060 2.0955
5 Canada/dollar 1.5032 1.5216 1.5587
6 China, P.R./yuan 8.2776 8.2771 8.2775
7 Denmark/krone 7.9629 8.1103 8.2229
8 European Monetary
Union/euro(3) 0.9376 0.9205 0.9083
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 n.a. n.a. n.a.
13 Hong Kong/dollar 7.7998 7.7999 7.7999
14 India/rupee 46.61 46.56 46.65
15 Ireland/pound(2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 116.67 116.23 121.51
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.769 9.711 9.599
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar(2) 44.42 43.45 41.82
22 Norway/krone 8.7817 8.9180 8.9859
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.7380 1.7435 1.7732
25 South Africa/rand 7.7786 7.8214 7.8980
26 South Korea/won 1,272.63 1,252.85 1,291.41
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 85.833 87.136 85.730
29 Sweden/krona 9.4910 9.7518 10.0516
30 Switzerland/franc 1.6305 1.6686 1.6908
31 Taiwan/dollar 32.673 32.330 32.622
32 Thailand/baht 43.149 42.665 43.988
33 United Kingdom/pound(2) 147.75 145.25 144.45
34 Venezuela/bolivar 700.02 703.36 706.06
Indexes(4)
NOMINAL
35 Broad (January
1997=100)(5) 123.14 123.77 125.91
36 Major currencies
(March 1973=100)(6) 100.24 101.44 103.98
37 Other important trading
partners (January
1997=100)(7) 135.01 134.52 135.56
REAL
38 Broad (March 1973=100)(5) 105.56(r) 106.27(r) 108.13(r)
39 Major currencies (March
1973=100)(6) 105.90(r) 107.29 109.90
40 Other important trading
partners (March
1973=100)(7) 111.73(r) 111.59(r) 112.57(r)
2001
Item Apr. May June
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar(2) 50.16 51.99 51.80
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 2.1934 2.2926 2.3788
5 Canada/dollar 1.5578 1.5411 1.5245
6 China, P.R./yuan 8.2771 8.2770 8.2770
7 Denmark/krone 8.3657 8.5256 8.7397
8 European Monetary
Union/euro(3) 0.8925 0.8753 0.8530
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 n.a. n.a. n.a.
13 Hong Kong/dollar 7.7993 7.7999 7.7997
14 India/rupee 46.79 46.95 47.04
15 Ireland/pound(2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 123.77 121.77 122.35
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.328 9.148 9.088
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar(2) 40.69 42.18 41.41
22 Norway/krone 9.0920 9.1380 9.3014
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.8118 1.8141 1.8170
25 South Africa/rand 8.0783 7.9789 8.0595
26 South Korea/won 1,327.76 1,298.90 1,295.05
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 88.205 90.848 90.371
29 Sweden/krona 10.2035 10.3513 10.7930
30 Switzerland/franc 1.7131 1.7528 1.7856
31 Taiwan/dollar 32.941 33.203 34.328
32 Thailand/baht 45.494 45.525 45.263
33 United Kingdom/pound(2) 143.48 142.65 140.20
34 Venezuela/bolivar 710.39 714.86 717.27
Indexes(4)
NOMINAL
35 Broad (January
1997=100)(5) 126.97 126.77 127.58
36 Major currencies
(March 1973=100)(6) 105.09 105.03 105.91
37 Other important trading
partners (January
1997=100)(7) 136.30 135.92 136.43
REAL
38 Broad (March 1973=100)(5) 109.02(r) 108.98(r) 110.09
39 Major currencies (March
1973=100)(6) 110.99(r) 110.79(r) 112.13
40 Other important trading
partners (March
1973=100)(7) 113.27(r) 113.43(r) 114.30
(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.) The euro is reported in place of the individual euro area
currencies. By convention, the rate is reported in U.S. dollars per
euro. The bilateral 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
340.750 Greek drachmas
(4.) Starting with the February 2001 Bulletin, revised index values
resulting from the annual revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of
foreign exchange value of the dollar, see Federal Reserve Bulletin,
vol. 84 (October 1998), pp. 811-818.
(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.
COPYRIGHT 2001 Board of Governors of the Federal Reserve System
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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