Financial and Business Statistics.Guide to Tables SYMBOLS AND ABBREVIATIONS c Corrected e Estimated n.a. Not available n.e.c. Not elsewhere classified p Preliminary r Revised (Notation appears in column heading when about half the figures in the column have been revised from the most recently published table.) * Amount insignificant in terms of the last decimal place shown in the table (for example, less than 500,000 when the smallest unit given is in 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 FAMC - Fitzsimons Army Medical Center FAMC - Florida Agricultural and Mechanical College (now Florida Agricultural and Mechanical University) FAMC - Fully Absorbed Manufacturing Cost Federal Agriculture Mortgage Corporation FFB FFB - Fat Free Body Mass FFB - Features, Functions, and Benefits FFB - Federal Financing Bank (US) FFB - Fédération Française de Bridge FFB - Fellow of the Faculty of Building (UK) FFB - First Families of Baltimore FFB - First Fidelity Bank FFB - First Fuel Banks FFB - flexible fiberoptic bronchoscopy FFB - Florida Farm Bureau FFB - Food from Britain (UK strategic international food and drink export marketing consultancy) Federal Financing Bank FHA Federal Housing Administration FHLBB FHLBB - Federal Home Loan Bank Board 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 FSLIC - Federal Savings & Loan Insurance Corporation 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 GSE Government-sponsored enterprise HUD Department of Housing and Urban Development IMF International Monetary Fund IOs Interest only, stripped, mortgage-backed securities IPCs Individuals, partnerships, and corporations IRA Individual retirement account MMDA Money market deposit account MSA Metropolitan statistical area NAICS North American Industry Classification System 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-backed 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 TIIS TIIS - Thermal Imaging Inspection Station TIIS - Treasury Inflation-Indexed Securities Treasury inflation-indexed securities 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 U.S. Treasury. "State and local government" also includes municipalities, special districts, and other political subdivisions. Money Stock and Bank Credit
1.10 RESERVES, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted (1)
2000 2001 2001
Monetary or credit
aggregate
Q4 Q1 Q2 Q3 July
Reserves of depository
institutions (2)
1 Total -9.0 -2.1 1.9 71.7 25.8
2 Required -11.3 -3.6 4.3 10.4 26.1
3 Nonborrowed -6.7 .4 .9 60.4 24.3
4 Monetary base (3) 2.8 6.4 5.4 14.7 11.6
Concepts of money and
debt (4)
5 M1 -3.3 5.0 5.5 14.5 13.8
6 M2 6.0 9.8 9.7 10.7 9.1
7 M3 7.3 13.1 14.7 9.7 6.9
8 Debt 4.4 4.8 5.9 5.8 3.7 (r)
Nontransaction
components
9 In M2 (5) 8.8 11.2 10.9 9.6 7.8
10 In M3 only (6) 10.4 20.7 25.9 7.6 2.2
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 12.1 17.4 20.4 19.8 12.4
12 Small time (7) 5.6 2.5 -7.8 -10.3 -13.9
13 Large times (8),(9) 4.1 -1.3 -.2 -4.0 -11.4
Thrift institutions
14 Savings, including
MMDAs .4 6.5 22.3 25.3 23.1
15 Small time (7) 9.3 6.5 4.0 -4.8 -8.2
16 Large time (8) 10.6 11.1 12.8 16.0 20.7
Money market mutual
funds
17 Retail 10.4 12.2 7.0 4.9 13.4
18 Institution-only 20.5 50.8 55.1 21.9 9.7
Repurchase agreements
and eurodollars
19 Repurchase agreements
(10) 2.1 -7.1 21.0 -9.6 -12.4
20 Eurodollars (10) 10.3 38.6 8.1 6.4 28.5
Debt components (4)
21 Federal -8.0 -5.2 -7.0 3.1 4.5
22 Nonfederal 7.4 7.1 8.7 6.3 3.6
2001
Monetary or credit
aggregate
Aug. Sept. Oct. Nov.
Reserves of depository
institutions (2)
1 Total 8.7 540.1 -266.0 -119.2
2 Required 14.4 4.4 160.2 -134.2
3 Nonborrowed 11.8 445.8 -210.8 -118.3
4 Monetary base (3) 15.4 47.2 -19.1 -.9
Concepts of money and
debt (4)
5 M1 8.6 58.1 -41.3 -.2
6 M2 8.2 26.7 -1.5 9.2
7 M3 .8 25.0 10.6 16.1
8 Debt 6.7 8.0 4.7 n.a.
Nontransaction
components
9 In M2 (5) 8.1 18.0 9.9 11.9
10 In M3 only (6) -14.8 21.1 37.0 30.5
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 24.5 32.9 12.4 29.1
12 Small time (7) -7.5 -8.6 -11.2 -17.9
13 Large times (8),(9) -19.4 6.9 (r) 23.5 (r) 18.4
Thrift institutions
14 Savings, including
MMDAs 24.3 22.9 33.4 26.7
15 Small time (7) -9.9 -4.5 -14.9 -16.9
16 Large time (8) 31.1 13.6 1.0 -21.7
Money market mutual
funds
17 Retail -9.6 17.1 16.2 4.3
18 Institution-only -20.1 53.0 76.4 30.0
Repurchase agreements
and eurodollars
19 Repurchase agreements
(10) -11.5 -40.8 -11.1 62.6
20 Eurodollars (10) -4.9 26.8 -12.3 47.6
Debt components (4)
21 Federal 7.6 12.3 .0 n.a.
22 Nonfederal 6.5 7.1 5.7 n.a.
(1.) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements
(See also table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all weekly reporters
whose vault cash exceeds their required reserves) the seasonally
adjusted, break-adjusted difference between current vault cash and the
amount applied to satisfy current reserve requirements.
(4.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks,
and the vaults of depository institutions, (2) travelers checks of
nonbank issuers, (3) demand deposits at all commercial banks other
than those owed to depository institutions, the U.S. government, and
foreign banks and official institutions, less cash items in the
process of collection and Federal Reserve float, and (4) other
checkable deposits (OCDs), consisting of negotiable order of
withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and
demand deposits at thrift institutions. Seasonally adjusted M1 is
computed by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAs), (2) small-denomination
time deposits (time deposits--including retail RPs--in amounts of
less than $100,000), and (3) balances in retail money market mutual
funds. Excludes individual retirement accounts (IRAs) and Keogh
balances at depository institutions and money market funds.
Seasonally adjusted M2 is calculated by summing savings deposits,
small-denomination time deposits, and retail money fund balances,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3)
RP liabilities (overnight and term) issued by all depository
institutions, and (4) eurodollars (overnight and term) held by U.S.
residents at foreign branches of U.S. banks worldwide and at all
banking offices in the United Kingdom and Canada. Excludes amounts
held by depository institutions, the U.S. government, money market
funds, and foreign banks and official institutions. Seasonally
adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data,
which are derived from the Federal Reserve Board's flow of funds
accounts, are break-adjusted (that is, discontinuities in the data
have been smoothed into the series) and month-averaged (that is, the
data have been derived by averaging adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT (1)
Millions of dollars
Average of
daily figures
Factor 2001
Sept. Oct. Nov.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 628,193 613,448 616,947
U.S. government
securities (2)
2 Bought outright--System
account (3) 533,581 541,533 547,415
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 agreeements--
triparty (4) 44,704 33,035 32,049
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 3,344 9 50
9 Seasonal credit 89 68 33
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 7,551 490 479
13 Other Federal Reserve assets 38,914 38,302 36,911
14 Gold stock 11,044 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 32,984 33,045 33,104
ABSORBING RESERVE FUNDS
17 Currency in circulation 613,474 615,444 622,206
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 424 438 435
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 6,644 5,234 5,131
21 Foreign 292 505 213
22 Service-related balances and
adjustments 7,796 8,160 8,012
23 Other 342 262 267
24 Other Federal Reserve
liabilities and capital 19,081 17,892 17,910
25 Reserve balances with Federal
Reserve Banks (5) 26,368 11,802 9,123
Average of daily figures for
week ending on date indicated
Factor 2001
Oct. 17 Oct. 24 Oct. 31
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 616,686 606,617 617,176
U.S. government
securities (2)
2 Bought outright--System
account (3) 541,322 543,577 543,435
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 agreeements--
triparty (4) 33,154 27,405 37,843
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 7 10 10
9 Seasonal credit 67 64 54
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 915 -38 -146
13 Other Federal Reserve assets 41,213 35,589 35,968
14 Gold stock 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 33,041 33,055 33,069
ABSORBING RESERVE FUNDS
17 Currency in circulation 616,113 614,807 614,653
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 442 451 438
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 4,722 5,321 5,121
21 Foreign 632 579 112
22 Service-related balances and
adjustments 8,096 8,057 8,223
23 Other 257 262 236
24 Other Federal Reserve
liabilities and capital 17,958 17,844 17,879
25 Reserve balances with Federal
Reserve Banks (5) 14,752 (r) 5,595 16,827
Average of daily figures for
week ending on date indicated
Factor 2001
Nov. 7 Nov. 14 Nov. 21
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 609,341 616,000 619,203
U.S. government
securities (2)
2 Bought outright--System
account (3) 544,264 546,037 549,068
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 agreeements--
triparty (4) 26,704 31,004 34,257
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 77 90 33
9 Seasonal credit 39 31 30
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float -14 71 578
13 Other Federal Reserve assets 38,261 38,757 35,227
14 Gold stock 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 33,083 33,097 33,111
ABSORBING RESERVE FUNDS
17 Currency in circulation 617,406 621,370 622,985
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 436 438 436
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 4,987 4,690 5,603
21 Foreign 96 149 172
22 Service-related balances and
adjustments 7,724 7,788 8,237
23 Other 280 256 274
24 Other Federal Reserve
liabilities and capital 18,054 17,967 17,766
25 Reserve balances with Federal
Reserve Banks (5) 6,687 9,684 10,087
Average
of daily
figures
for week End-of-month
ending figures
on date
indi-
cated
Factor 2001
Nov. 28 Sept. Oct.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 621,108 619,548 625,350
U.S. government
securities (2)
2 Bought outright--System
account (3) 549,494 534,136 544,287
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 agreeements--
triparty (4) 35,243 47,880 45,050
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 9 7 15
9 Seasonal credit 33 81 40
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 679 -549 244
13 Other Federal Reserve assets 35,639 37,983 35,703
14 Gold stock 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 33,113 33,013 33,069
ABSORBING RESERVE FUNDS
17 Currency in circulation 626,232 612,069 616,853
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 429 422 435
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,074 9,796 5,112
21 Foreign 327 609 75
22 Service-related balances and
adjustments 8,151 8,016 8,223
23 Other 263 191 271
24 Other Federal Reserve
liabilities and capital 17,815 17,875 17,773
25 Reserve balances with Federal
Reserve Banks (5) 9,175 16,829 22,922 (r)
End-of-
month Wednesday figures
figures
Factor
Nov. Oct. 17 Oct. 24
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 624,228 624,125 610,745
U.S. government
securities (2)
2 Bought outright--System
account (3) 550,314 544,024 544,190
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 agreeements--
triparty (4) 36,500 37,045 30,050
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 3 1 42
9 Seasonal credit 35 64 60
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 1,523 1,640 646
13 Other Federal Reserve assets 35,842 41,342 35,747
14 Gold stock 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 33,139 33,041 33,055
ABSORBING RESERVE FUNDS
17 Currency in circulation 624,672 616,220 615,437
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 434 453 439
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 6,219 5,038 4,297
21 Foreign 528 744 282
22 Service-related balances and
adjustments 8,525 8,096 8,057
23 Other 236 256 251
24 Other Federal Reserve
liabilities and capital 18,101 17,734 17,597
25 Reserve balances with Federal
Reserve Banks (5) 11,896 21,872 10,685
Wednesday figures
Factor Oct. 31 Nov. 7 Nov. 14
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 625,350 611,452 627,260
U.S. government
securities (2)
2 Bought outright--System
account (3) 544,287 545,603 547,300
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 agreeements--
triparty (4) 45,050 27,925 37,755
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 15 61 1
9 Seasonal credit 40 37 28
10 Special Liquidity Facility
credit 0 0 0
11 Extended credit 0 0 0
12 Float 244 -681 3,283
13 Other Federal Reserve assets 35,703 38,498 38,882
14 Gold stock 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency outstanding 33,069 33,083 33,097
ABSORBING RESERVE FUNDS
17 Currency in circulation 616,853 619,660 623,072
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 435 438 437
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 5,112 5,183 5,347
21 Foreign 75 124 471
22 Service-related balances and
adjustments 8,223 7,724 7,788
23 Other 271 278 262
24 Other Federal Reserve
liabilities and capital 17,773 17,822 17,604
25 Reserve balances with Federal
Reserve Banks (5) 22,922 (r) 6,551 18,622
Wednesday figures
Factor Nov. 21 Nov. 28
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 623,368 627,136
U.S. government
securities (2)
2 Bought outright--System
account (3) 549,166 550,765
3 Held under repurchase
agreements 0 0
Federal agency obligations
4 Bought outright 10 10
5 Held under repurchase
agreements 0 0
6 Repurchase agreeements--
triparty (4) 36,250 39,350
7 Acceptances 0 0
Loans to depository
institutions
8 Adjustment credit 4 3
9 Seasonal credit 31 33
10 Special Liquidity Facility
credit 0 0
11 Extended credit 0 0
12 Float 2,369 1,001
13 Other Federal Reserve assets 35,539 35,974
14 Gold stock 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200
16 Treasury currency outstanding 33,111 33,111
ABSORBING RESERVE FUNDS
17 Currency in circulation 626,282 626,851
18 Reverse repurchase
agreements--triparty (4) 0 0
19 Treasury cash holdings 428 434
Deposits, other than reserve
balances, with Federal
Reserve Banks
20 Treasury 4,627 4,313
21 Foreign 163 351
22 Service-related balances and
adjustments 8,237 8,151
23 Other 257 272
24 Other Federal Reserve
liabilities and capital 17,606 17,858
25 Reserve balances with Federal
Reserve Banks (5) 12,125 15,261
(1.) Amounts of cash held as reserves are shown in table 1.12, line 2.
(2.) Includes securities loaned--fully guaranteed by U.S. government
securities pledged with Federal Reserve Banks--and excludes securities
sold and scheduled to be bought back under matched sale-purchase
transactions.
(3.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
(4.) Cash value of agreements arranged through third-party custodial
banks. These agreements are collateralized by U.S. government and
federal agency securities.
(5.) Excludes required clearing balances and adjustments to compensate
for float.
1.12 RESERVES AND BORROWINGS Depository Institutions (1)
Millions of dollars
Prorated monthly averages of
biweekly averages
Reserve classification 1998 1999 2000 2001
Dec. Dec. Dec. May
1 Reserve balances with
Reserve Banks (2) 9,026 5,262 7,022 7,604
2 Total vault cash (3) 44,294 60,619 45,245 43,267
3 Applied vault cash (4) 36,183 36,392 31,451 31,771
4 Surplus vault cash (5) 8,111 24,227 13,794 11,497
5 Total reserves (6) 45,209 41,654 38,473 39,374
6 Required reserves 43,695 40,357 37,046 38,355
7 Excess reserve balances at
Reserve Banks (7) 1,514 1,297 1,427 1,019
8 Total borrowing at Reserve
Banks 117 320 210 213
9 Adjustment 101 179 99 134
10 Seasonal 15 67 111 79
11 Special Liquidity Facility
(8) 0 74 0 ...
12 Extended credit (9) 0 0 0 0
Prorated monthly averages of
biweekly averages
Reserve classification 2001
June July Aug. Sept.
1 Reserve balances with
Reserve Banks (2) 7,041 7,665 7,552 25,564
2 Total vault cash (3) 43,139 43,911 44,007 43,436
3 Applied vault cash (4) 31,174 31,619 32,051 31,940
4 Surplus vault cash (5) 11,966 12,291 11,956 11,496
5 Total reserves (6) 38,215 39,285 39,603 57,504
6 Required reserves 36,855 37,904 38,397 38,491
7 Excess reserve balances at
Reserve Banks (7) 1,360 1,380 1,206 19,013
8 Total borrowing at Reserve
Banks 229 283 183 3,385
9 Adjustment 110 109 19 3,292
10 Seasonal 120 174 164 93
11 Special Liquidity Facility
(8) ... ... ... ...
12 Extended credit (9) 0 0 0 0
Biweekly
averages
of daily
Prorated monthly figures
averages of for two-
biweekly week
averages periods
ending on
dates
indicated
Reserve classification 2001 2001
Oct. Nov. Aug. 8
1 Reserve balances with
Reserve Banks (2) 12,127 8,943 7,642
2 Total vault cash (3) 45,022 43,067 44,716
3 Applied vault cash (4) 32,476 (r) 31,216 32,298
4 Surplus vault cash (5) 12,546 11,851 12,418
5 Total reserves (6) 44,604 40,159 39,940
6 Required reserves 43,589 (r) 38,696 38,799
7 Excess reserve balances at
Reserve Banks (7) 1,014 (r) 1,463 1,141
8 Total borrowing at Reserve
Banks 127 84 214
9 Adjustment 60 51 27
10 Seasonal 67 33 188
11 Special Liquidity Facility
(8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
Reserve classification 2001
Aug. 22 Sept. 5 Sept. 19
1 Reserve balances with
Reserve Banks (2) 7,029 8,287 44,460
2 Total vault cash (3) 44,326 42,883 42,992
3 Applied vault cash (4) 32,111 31,739 30,976
4 Surplus vault cash (5) 12,215 11,145 12,016
5 Total reserves (6) 39,140 40,026 75,436
6 Required reserves 38,088 38,523 37,301
7 Excess reserve balances at
Reserve Banks (7) 1,052 1,502 38,134
8 Total borrowing at Reserve
Banks 184 156 6,717
9 Adjustment 9 29 6,622
10 Seasonal 175 127 95
11 Special Liquidity Facility
(8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
Reserve classification 2001
Oct. 3 Oct. 17 Oct. 31
1 Reserve balances with
Reserve Banks (2) 9,368 13,635 11,212
2 Total vault cash (3) 44,254 45,739 44,471
3 Applied vault cash (4) 33,260 32,392 32,393 (r)
4 Surplus vault cash (5) 10,994 13,347 12,078 (r)
5 Total reserves (6) 42,628 46,027 43,605 (r)
6 Required reserves 39,992 45,187 42,763
7 Excess reserve balances at
Reserve Banks (7) 2,635 839 842
8 Total borrowing at Reserve
Banks 613 82 69
9 Adjustment 538 8 10
10 Seasonal 75 74 59
11 Special Liquidity Facility
(8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
Reserve classification 2001
Nov. 14 Nov. 28 Dec. 12
1 Reserve balances with
Reserve Banks (2) 8,317 9,625 8,556
2 Total vault cash (3) 43,506 42,769 42,084
3 Applied vault cash (4) 30,971 31,531 30,729
4 Surplus vault cash (5) 12,535 11,238 11,355
5 Total reserves (6) 39,288 41,156 39,284
6 Required reserves 37,848 39,653 37,941
7 Excess reserve balances at
Reserve Banks (7) 1,440 1,503 1,343
8 Total borrowing at Reserve
Banks 119 53 60
9 Adjustment 84 22 26
10 Seasonal 35 32 34
11 Special Liquidity Facility
(8) ... ... ...
12 Extended credit (9) 0 0 0
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to
compensate for float and includes other off-balance-sheet "as-of"
adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It includes
only vault cash held by those banks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current
reserve requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus
applied vault cash (line 3).
(7.) Total reserves (line 5)less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and conditions
established for the Century Date Change Special Liquidity Facility
in effect from October 1, 1999, through April 7, 2000.
(9.) Consists of borrowing at the discount window under the terms and
conditions established for the extended credit program to help
depository institutions deal with sustained liquidity pressures.
Because there is not the same need to repay such borrowing promptly as
with traditional short-term adjustment credit, the money market effect
of extended credit is similar to that of nonborrowed reserves.
Policy Instruments
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit (1)
Federal Reserve On Effective Previous
Bank 1/11/02 date rate
Boston 1.25 12/11/01 1.50
New York 1.25 12/11/01 1.50
Philadelphia 1.25 12/11/01 1.50
Cleveland 1.25 12/13/01 1.50
Richmond 1.25 12/13/01 1.50
Atlanta 1.25 12/13/01 1.50
Chicago 1.25 12/11/01 1.50
St. Louis 1.25 12/12/01 1.50
Minneapolis 1.25 12/13/01 1.50
Kansas City 1.25 12/13/01 1.50
Dallas 1.25 12/13/01 1.50
San Francisco 1.25 12/11/01 1.50
Current and previous levels
Seasonal credit (2)
Federal Reserve On Effective Previous
Bank 1/11/02 date rate
Boston 1.70 1/10/02 1.80
New York 1.70 1/10/02 1.80
Philadelphia 1.70 1/10/02 1.80
Cleveland 1.70 1/10/02 1.80
Richmond 1.70 1/10/02 1.80
Atlanta 1.70 1/10/02 1.80
Chicago 1.70 1/10/02 1.80
St. Louis 1.70 1/10/02 1.80
Minneapolis 1.70 1/10/02 1.80
Kansas City 1.70 1/10/02 1.80
Dallas 1.70 1/10/02 1.80
San Francisco 1.70 1/10/02 1.80
Current and previous levels
Extended credit (3)
Federal Reserve On Effective Previous
Bank 1/11/02 date rate
Boston 2.20 1/10/02 2.30
New York 2.20 1/10/02 2.30
Philadelphia 2.20 1/10/02 2.30
Cleveland 2.20 1/10/02 2.30
Richmond 2.20 1/10/02 2.30
Atlanta 2.20 1/10/02 2.30
Chicago 2.20 1/10/02 2.30
St. Louis 2.20 1/10/02 2.30
Minneapolis 2.20 1/10/02 2.30
Kansas City 2.20 1/10/02 2.30
Dallas 2.20 1/10/02 2.30
San Francisco 2.20 1/10/02 2.30
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, 1981 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
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. 12 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
1991--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. 3 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
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
2001--May 15 3.50-4.00 3.50
17 3.50 3.50
June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
In effect Jan. 11, 2002 1.25 1.25
(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, and 1980-1989. See also
the Board's Statistics: Releases and Historical Data web pages
(http://www.federalreserve.gov/releases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Percentage of
Type of deposit deposits Effective date
Net transaction accounts (2)
1 $0 million-$42.8 million (3) 3 12/30/99
2 More than $42.8 million (4) 10 12/30/99
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 he
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 requriement 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 1998 1999 2000
and maturity
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
2001
Type of transaction
and maturity
Apr. May June
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 308 624 2,165
2 Gross sales 0 0 0
3 Exchanges 38,317 47,112 40,363
4 For new bills 38,317 47,112 40,363
5 Redemptions 3,537 3,939 0
Others within one year
6 Gross purchases 3,027 2,174 1,410
7 Gross sales 0 0 0
8 Maturity shifts 12,204 8,117 0
9 Exchanges -7,000 -8,965 0
10 Redemptions 4,368 2,287 0
One to five years
11 Gross purchases 4,480 2,685 1,428
12 Gross sales 0 0 0
13 Maturity shifts -12,204 -1,913 0
14 Exchanges 7,000 6,508 0
Five to ten years
15 Gross purchases 1,390 657 0
16 Gross sales 0 0 0
17 Maturity shifts 0 -5,130 0
18 Exchanges 0 2,457 0
More than ten years
19 Gross purchases 913 1,241 1,419
20 Gross sales 0 0 0
21 Maturity shifts 0 -1,074 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 10,118 7,380 6,422
24 Gross sales 0 0 0
25 Redemptions 7,905 6,226 0
Matched transactions
26 Gross purchases 381,667 398,039 367,462
27 Gross sales 381,895 397,600 366,411
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S. Treasury
securities 1,984 1,592 7,472
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 85,166 120,135 65,005
40 Gross sales 82,154 114,832 72,065
41 Net change in triparty
obligations 3,012 5,303 -7,060
42 Total net change in System
Open Market Account 4,996 6,895 412
2001
Type of transaction
and maturity
July Aug. Sept. Oct.
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 718 2,899 348 772
2 Gross sales 0 0 0 0
3 Exchanges 42,001 55,231 42,268 50,274
4 For new bills 42,001 55,231 42,268 50,274
5 Redemptions 0 0 1,543 473
Others within one year
6 Gross purchases 235 1,385 0 1,411
7 Gross sales 0 0 0 0
8 Maturity shifts 7,088 9,379 0 6,535
9 Exchanges -7,667 -6,873 0 -11,809
10 Redemptions 4,668 1,055 0 0
One to five years
11 Gross purchases 4,193 810 851 22
12 Gross sales 0 0 0 0
13 Maturity shifts 1,838 -9,379 0 -2,164
14 Exchanges 7,667 5,290 0 11,809
Five to ten years
15 Gross purchases 756 935 0 422
16 Gross sales 0 0 0 0
17 Maturity shifts -8,926 1,043 0 -4,372
18 Exchanges 0 1,043 0 0
More than ten years
19 Gross purchases 815 720 0 1,184
20 Gross sales 0 0 0 0
21 Maturity shifts 0 -1,043 0 0
22 Exchanges 0 540 0 0
All maturities
23 Gross purchases 6,716 6,749 1,199 3,811
24 Gross sales 0 0 0 0
25 Redemptions 4,668 1,055 1,543 473
Matched transactions
26 Gross purchases 392,721 406,143 508,129 431,887
27 Gross sales 394,381 405,627 515,429 425,110
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S. Treasury
securities 388 6,211 -7,645 10,114
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 0 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0 0
35 Gross sales 0 0 0 0
36 Net change in federal agency
obligations 0 0 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase agreements
39 Gross purchases 106,355 103,255 406,930 110,885
40 Gross sales 103,255 99,850 388,805 113,715
41 Net change in triparty
obligations 3,100 3,405 18,125 -2,830
42 Total net change in System
Open Market Account 3,488 9,616 10,480 7,284
(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.
Federal Reserve Banks
1.18 FEDERAL RESERVE BANKS Condition and Federal Note Statements (1)
Millions of dollars
Wednesday
Account 2001
Oct. 31 Nov. 7 Nov. 14 Nov. 21
Consolidated condition statement
ASSETS
1 Gold certificate account 11,045 11,045 11,045 11,045
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,123 1,116 1,107 1,074
Loans
4 To depository institutions 55 97 30 35
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 45,050 27,925 37,755 36,250
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 544,287 545,603 547,300 549,166
11 Bought outright (4) 544,287 545,603 547,300 549,166
12 Bills 182,652 183,958 183,506 184,655
13 Notes 258,389 258,395 260,540 261,475
14 Bonds 103,246 103,250 103,254 103,035
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 589,403 573,635 585,095 585,460
17 Items in process of
collection 7,676 8,746 14,671 9,608
18 Bank premises 1,513 1,518 1,518 1,519
Other assets
19 Denominated in foreign
currencies (5) 15,090 15,196 15,021 14,892
20 All other (6) 21,633 22,035 22,611 19,333
21 Total assets 649,682 635,490 653,268 645,131
LIABILITIES
22 Federal Reserve notes 585,342 588,131 591,519 594,673
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 38,735 21,194 32,904 24,674
25 Depository institutions 33,278 15,609 26,825 19,627
26 U.S. Treasury--General
account 5,112 5,183 5,347 4,627
27 Foreign--Official accounts 75 124 471 163
28 Other 271 278 262 257
29 Deferred credit items 7,833 8,343 11,241 8,178
30 Other liabilities and
accrued dividends (7) 2,773 2,752 2,744 2,696
31 Total liabilities 634,683 620,420 638,409 630,221
CAPITAL ACCOUNTS
32 Capital paid in 7,269 7,274 7,277 7,281
33 Surplus 6,738 6,742 6,735 6,730
34 Other capital accounts 993 1,054 848 899
35 Total liabilities and
capital accounts 649,682 635,490 653,268 645,131
MEMO
36 Marketable U.S. Treasury
securities held in custody
for foreign and
international accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued to
Banks) 741,957 743,635 746,080 746,713
38 LESS: Held by Federal
Reserve Banks 156,615 155,505 154,561 152,040
39 Federal Reserve notes, net 585,342 588,131 591,519 594,673
Collateral held against
notes, net
40 Gold certificate account 11,045 11,045 11,045 11,045
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 1,348 0 0
43 U.S. Treasury and agency
securities 572,097 573,538 578,274 581,428
44 Total collateral 585,342 588,131 591,519 594,673
Wednes-
day End of month
Account 2001 2001
Nov. 28 Sept. Oct. Nov.
Consolidated condition statement
ASSETS
1 Gold certificate account 11,045 11,045 11,045 11,045
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,046 1,141 1,123 1,064
Loans
4 To depository institutions 35 88 55 38
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 39,350 47,880 45,050 36,500
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 550,765 534,136 544,287 550,314
11 Bought outright (4) 550,765 534,136 544,287 550,314
12 Bills 185,299 175,104 182,652 184,845
13 Notes 262,376 257,030 258,389 262,378
14 Bonds 103,090 102,002 103,246 103,091
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 590,161 582,114 589,403 586,862
17 Items in process of
collection 8,037 5,089 7,676 7,168
18 Bank premises 1,519 1,508 1,513 1,517
Other assets
19 Denominated in foreign
currencies (5) 14,958 15,366 15,090 15,042
20 All other (6) 19,821 20,947 21,633 19,267
21 Total assets 648,787 639,410 649,682 644,165
LIABILITIES
22 Federal Reserve notes 595,220 580,619 585,342 593,031
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 28,219 35,532 38,735 27,342
25 Depository institutions 23,283 24,937 33,278 20,359
26 U.S. Treasury--General
account 4,313 9,796 5,112 6,219
27 Foreign--Official accounts 351 609 75 528
28 Other 272 191 271 236
29 Deferred credit items 7,490 5,384 7,833 5,690
30 Other liabilities and
accrued dividends (7) 2,687 2,971 2,773 2,745
31 Total liabilities 633,616 624,506 634,683 628,809
CAPITAL ACCOUNTS
32 Capital paid in 7,370 7,266 7,269 7,354
33 Surplus 6,733 6,741 6,738 6,732
34 Other capital accounts 1,069 896 993 1,270
35 Total liabilities and
capital accounts 648,787 639,410 649,682 644,165
MEMO
36 Marketable U.S. Treasury
securities held in custody
for foreign and
international accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued to
Banks) 746,906 742,539 741,957 746,821
38 LESS: Held by Federal
Reserve Banks 151,686 161,920 156,615 153,790
39 Federal Reserve notes, net 595,220 580,619 585,342 593,031
Collateral held against
notes, net
40 Gold certificate account 11,045 11,045 11,045 11,045
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 0
43 U.S. Treasury and agency
securities 581,975 567,374 572,097 579,786
44 Total collateral 595,220 580,619 585,342 593,031
(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
Oct. 31 Nov. 7 Nov. 14 Nov. 21
1 Total loans 55 97 30 35
2 Within fifteen days (1) 44 73 8 31
3 Sixteen days to ninety days 11 24 22 4
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 544,287 545,603 547,300 549,166
6 Within fifteen days (1) 19,638 16,085 22,735 21,887
7 Sixteen days to ninety days 113,438 123,672 117,379 115,019
8 Ninety-one days to one year 134,127 128,752 129,352 130,027
9 One year to five years 147,078 147,078 147,808 150,147
10 Five years to ten years 50,204 50,209 50,214 53,245
11 More than ten years 79,802 79,806 79,811 78,840
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 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
Wednes-
day End of month
Type of holding and maturity 2001 2001
Nov. 28 Sept. Oct. Nov.
1 Total loans 35 88 55 38
2 Within fifteen days (1) 31 69 44 32
3 Sixteen days to ninety days 5 19 11 7
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 550,765 534,137 544,287 550,314
6 Within fifteen days (1) 23,947 10,737 19,638 4,477
7 Sixteen days to ninety days 113,309 117,454 113,438 135,090
8 Ninety-one days to one year 130,323 129,491 134,127 127,556
9 One year to five years 151,091 142,304 147,078 151,093
10 Five years to ten years 53,251 55,571 50,204 53,252
11 More than ten years 78,845 78,581 79,802 78,846
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 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.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
Monetary and Credit Aggregates
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
AND MONETARY BASE (1)
Billions of dollars, averages of daily figures
Item 1997 1998 1999 2000
Dec. Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 46.85 45.18 41.78 38.44
2 Nonborrowed reserves (4) 46.52 45.07 41.46 38.23
3 Nonborrowed reserves plus
extended credit (5) 46.52 45.07 41.46 38.23
4 Required reserves 45.16 43.67 40.48 37.01
5 Monetary base (6) 479.47 513.49 593.09 583.82
Not seasonally adjusted
6 Total reserves 48.01 45.31 41.89 38.53
7 Nonborrowed reserves 47.69 45.19 41.57 38.32
8 Nonborrowed reserves plus
extended credit (5) 47.69 45.19 41.57 38.32
9 Required reserves (8) 46.33 43.80 40.59 37.10
10 Monetary base (9) 484.98 518.27 600.72 590.06
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 47.92 45.21 41.65 38.47
12 Nonborrowed reserves 47.60 45.09 41.33 38.26
13 Nonborrowed reserves plus
extended credit (5) 47.60 45.09 41.33 38.26
14 Required reserves 46.24 43.70 40.36 37.05
15 Monetary base (12) 491.79 525.06 608.02 596.98
16 Excess reserves (13) 1.69 1.51 1.30 1.43
17 Borrowings from the Federal
Reserve .32 .12 .32 .21
2001
Item
Apr. May June July
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 38.79 38.88 38.76 39.59
2 Nonborrowed reserves (4) 38.74 38.67 38.53 39.31
3 Nonborrowed reserves plus
extended credit (5) 38.74 38.67 38.53 39.31
4 Required reserves 37.51 37.86 37.40 38.21
5 Monetary base (6) 595.93 599.08 601.87 607.67
Not seasonally adjusted
6 Total reserves 38.65 39.46 38.31 39.40
7 Nonborrowed reserves 38.60 39.24 38.08 39.12
8 Nonborrowed reserves plus
extended credit (5) 38.60 39.24 38.08 39.12
9 Required reserves (8) 37.38 38.44 36.95 38.02
10 Monetary base (9) 594.92 598.57 601.67 608.22
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 38.59 39.37 38.22 39.29
12 Nonborrowed reserves 38.54 39.16 37.99 39.00
13 Nonborrowed reserves plus
extended credit (5) 38.54 39.16 37.99 39.00
14 Required reserves 37.31 38.36 36.86 37.90
15 Monetary base (12) 601.84 605.48 608.81 615.55
16 Excess reserves (13) 1.28 1.02 1.36 1.38
17 Borrowings from the Federal
Reserve .05 .21 .23 .28
2001
Item
Aug. Sept. Oct. Nov.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 39.88 57.82 45.01 40.54
2 Nonborrowed reserves (4) 39.69 54.44 44.88 40.45
3 Nonborrowed reserves plus
extended credit (5) 39.69 54.44 44.88 40.45
4 Required reserves 38.67 38.81 43.99 39.07
5 Monetary base (6) 615.48 639.71 629.51 629.06
Not seasonally adjusted
6 Total reserves 39.73 57.66 44.79 40.34
7 Nonborrowed reserves 39.55 54.28 44.66 40.26
8 Nonborrowed reserves plus
extended credit (5) 39.55 54.28 44.66 40.26
9 Required reserves (8) 38.53 38.65 43.77 38.88
10 Monetary base (9) 614.51 637.94 627.86 629.90
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 39.60 57.50 44.60 40.16
12 Nonborrowed reserves 39.42 54.12 44.48 40.08
13 Nonborrowed reserves plus
extended credit (5) 39.42 54.12 44.48 40.08
14 Required reserves 38.40 38.49 43.59 38.70
15 Monetary base (12) 621.99 645.68 635.96 637.87
16 Excess reserves (13) 1.21 19.01 1.01 (r) 1.46
17 Borrowings from the Federal
Reserve .18 3.39 .13 .08
(1.) Latest monthly and biweekly figures are available from the
Board's H.3 (502) weekly statistical release. Historical data
starting in 1959 and estimates of the effect on required reserves
of changes in reserve requirements are available from the Money
and Reserves Projections Section, Division of Monetary Affairs,
Board of Governors of the Federal Reserve System, Washington,
DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements. (See
also table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4)
plus excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves equal
seasonally adjusted, break-adjusted total reserves (line 1) less
total borrowings of depository institutions from the Federal Reserve
(line 17).
(5.) Extended credit consists of borrowing at the discount window
under the terms and conditions established for the extended credit
program to help depository institutions deal with sustained liquidity
pressures. Because there is not the same need to repay such borrowing
promptly as with traditional short-term adjustment credit, the money
market effect of extended credit is similar to that of nonborrowed
reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
seasonally adjusted, break-adjusted difference between current vault
cash and the amount applied to satisfy current reserve requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative procedure
is used to estimate what required reserves would have been in past
periods had current reserve requirements been in effect. Break-adjusted
required reserves include required reserves against transactions
deposits and nonpersonal time and savings deposits (but not reservable
nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of the
money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those
weekly reporters whose vault cash exceeds their required reserves) the
break-adjusted difference between current vault cash and the amount
applied to satisfy current reserve requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the
effects of discontinuities associated with regulatory changes
in reserve requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2)
required clearing balances and adjustments to compensate for
float at Federal Reserve Banks, plus (3) the currency component
of the money stock, plus (4) (for all quarterly reporters on the
"Report of Transaction Accounts, Other Deposits and Vault Cash"
and for all those weekly reporters whose vault cash exceeds their
required reserves) the difference between current vault cash and
the amount applied to satisfy current reserve requirements. Since
February 1984, currency and vault cash figures have been measured
over the computation periods ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK AND DEBT MEASURES (1)
Billions of dollars, averages of daily figures
Item 1997 1998 1999 2000
Dec. Dec. Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,073.4 1,097.0 1,124.8 1,088.1
2 M2 4,030.0 4,384.1 4,651.8 4,937.4
3 M3 5,432.3 6,029.7 6,531.0 7,114.3
4 Debt 15,227.9 16,279.9 17,363.5 18,282.5
M1 components
5 Currency (3) 424.3 459.2 516.7 529.9
6 Travelers checks (4) 8.1 8.2 8.2 8.0
7 Demand deposits (5) 395.4 379.4 356.2 311.2
8 Other checkable
deposits (6) 245.7 250.1 243.6 239.0
Nontransaction
components
9 In M2 (7) 2,956.6 3,287.1 3,527.0 3,849.3
10 In M3 only (8) 1,402.3 1,645.6 1,879.2 2,176.9
Commercial banks
11 Savings deposits,
including MMDAs 1,021.1 1,185.8 1,287.2 1,422.2
12 Small time deposits (9) 625.5 626.4 635.5 699.8
13 Large time deposits
(10),(11) 517.3 575.1 648.4 726.3
Thrift institutions
14 Savings deposits,
including MMDAs 376.8 414.1 449.0 451.6
15 Small time deposits (9) 342.9 325.8 320.6 344.8
16 Large time deposits (10) 85.5 88.7 91.3 103.1
Money market mutual
funds
17 Retail 590.2 735.1 834.7 930.9
18 Institution-only 395.2 535.5 628.1 783.1
Repurchase agreements
and eurodollars
19 Repurchase agreements
(12) 254.3 294.5 338.2 367.3
20 Eurodollars (12) 150.0 151.8 173.3 197.1
Debt components
21 Federal debt 3,800.4 3,751.1 3,660.1 3,400.4
22 Nonfederal debt 11,427.5 12,528.9 13,703.4 14,882.1
Not seasonally adjusted
Measures (2)
23 M1 1,096.9 1,120.4 1,148.3 1,112.3
24 M2 4,051.4 4,406.4 4,675.9 4,966.0
25 M3 5,457.7 6,061.9 6,568.6 7,159.7
26 Debt 15,222.4 16,267.5 17,355.0 18,273.5
M1 components
27 Currency (3) 428.1 463.3 521.5 535.2
28 Travelers checks (4) 8.3 8.4 8.4 8.1
29 Demand deposits (5) 412.4 395.9 371.8 326.5
30 Other checkable
deposits (6) 248.2 252.8 246.6 242.5
Nontransaction
components
31 In M2 (7) 2,954.5 3,286.0 3,527.6 3,853.7
32 In M3 only (8) 1,406.3 1,655.5 1,892.8 2,193.7
Commercial banks
33 Savings deposits,
including MMDAs 1,020.4 1,186.0 1,288.8 1,426.9
34 Small time deposits (9) 625.3 626.5 635.7 700.0
35 Large time deposits
(10),(11) 516.7 574.5 647.7 725.6
Thrift institutions
36 Savings deposits,
including MMDAs 376.5 414.2 449.6 453.1
37 Small time deposits (9) 342.8 325.8 320.7 345.0
38 Large time deposits (10) 85.4 88.6 91.2 103.0
Money market mutual
funds
39 Retail 589.5 733.5 832.8 928.7
40 Institution-only 402.3 547.5 643.2 801.4
Repurchase agreements
and eurodollars
41 Repurchase agreements 249.5 290.4 334.7 364.2
42 Eurodollars 152.3 154.5 176.0 199.5
Debt components
43 Federal debt 3,805.8 3,754.9 3,663.2 3,403.5
44 Nonfederal debt 11,416.6 12,512.5 13,691.8 14,870.0
2001
Item
Aug. Sept.
Seasonally adjusted
Measures (2)
1 M1 1,144.1 1,199.5
2 M2 5,261.2 5,378.4
3 M3 7,679.9 7,839.7
4 Debt 18,947.2 (r) 19,073.2
M1 components
5 Currency (3) 562.6 568.0
6 Travelers checks (4) 8.8 8.4
7 Demand deposits (5) 315.2 365.6
8 Other checkable
deposits (6) 257.4 257.4
Nontransaction
components
9 In M2 (7) 4,117.1 4,178.9
10 In M3 only (8) 2,418.7 2,461.3
Commercial banks
11 Savings deposits,
including MMDAs 1,613.5 1,657.7
12 Small time deposits (9) 668.7 663.9
13 Large time deposits
(10),(11) 694.7 698.7 (r)
Thrift institutions
14 Savings deposits,
including MMDAs 518.3 528.2
15 Small time deposits (9) 347.4 346.1
16 Large time deposits (10) 114.7 116.0
Money market mutual
funds
17 Retail 969.2 983.0
18 Institution-only 1,019.4 1,064.4
Repurchase agreements
and eurodollars
19 Repurchase agreements
(12) 370.6 358.0
20 Eurodollars (12) 219.3 224.2
Debt components
21 Federal debt 3,339.0 3,373.2
22 Nonfederal debt 15,608.2 15,700.0 (r)
Not seasonally adjusted
Measures (2)
23 M1 1,141.3 1,194.3
24 M2 5,240.8 5,363.0
25 M3 7,637.8 7,791.7
26 Debt 18,862.6 (r) 18,990.1 (r)
M1 components
27 Currency (3) 561.9 566.3
28 Travelers checks (4) 8.4 8.3
29 Demand deposits (5) 315.5 364.6
30 Other checkable
deposits (6) 255.5 255.2
Nontransaction
components
31 In M2 (7) 4,099.5 4,168.8
32 In M3 only (8) 2,397.0 2,428.6
Commercial banks
33 Savings deposits,
including MMDAs 1,607.4 1,655.7
34 Small time deposits (9) 667.9 664.1
35 Large time deposits
(10),(11) 690.7 693.9
Thrift institutions
36 Savings deposits,
including MMDAs 516.3 527.5
37 Small time deposits (9) 347.0 346.2
38 Large time deposits (10) 114.0 115.2
Money market mutual
funds
39 Retail 960.8 975.2
40 Institution-only 1,005.2 1,042.2
Repurchase agreements
and eurodollars
41 Repurchase agreements 370.1 355.3
42 Eurodollars 217.0 221.8
Debt components
43 Federal debt 3,281.0 3,319.1
44 Nonfederal debt 15,581.6 (r) 15,671.1
2001
Item
Oct. Nov.
Seasonally adjusted
Measures (2)
1 M1 1,158.2 1,158.0
2 M2 5,371.7 5,413.1
3 M3 7,908.9 8,014.8
4 Debt 19,147.7 n.a.
M1 components
5 Currency (3) 571.5 575.0
6 Travelers checks (4) 8.1 7.8
7 Demand deposits (5) 327.3 (r) 323.8
8 Other checkable
deposits (6) 251.2 251.4
Nontransaction
components
9 In M2 (7) 4,213.5 4,255.2
10 In M3 only (8) 2,537.2 2,601.7
Commercial banks
11 Savings deposits,
including MMDAs 1,674.8 1,715.4
12 Small time deposits (9) 657.7 647.9
13 Large time deposits
(10),(11) 712.4 723.3
Thrift institutions
14 Savings deposits,
including MMDAs 542.9 555.0
15 Small time deposits (9) 341.8 337.0
16 Large time deposits (10) 116.1 114.0
Money market mutual
funds
17 Retail 996.3 999.9
18 Institution-only 1,132.2 1,160.5
Repurchase agreements
and eurodollars
19 Repurchase agreements
(12) 354.7 373.2
20 Eurodollars (12) 221.9 230.7
Debt components
21 Federal debt 3,373.2 n.a.
22 Nonfederal debt 15,774.5 n.a.
Not seasonally
adjusted
Measures (2)
23 M1 1,155.5 1,164.8
24 M2 5,343.7 5,402.3
25 M3 7,855.9 8,006.7
26 Debt 19,067.3 n.a.
M1 components
27 Currency (3) 569.9 575.8
28 Travelers checks (4) 8.1 7.9
29 Demand deposits (5) 327.4 (r) 329.3
30 Other checkable
deposits (6) 249.9 251.7
Nontransaction
components
31 In M2 (7) 4,188.2 4,237.5
32 In M3 only (8) 2,512.2 2,604.5
Commercial banks
33 Savings deposits,
including MMDAs 1,662.4 1,709.9
34 Small time deposits (9) 658.7 649.2
35 Large time deposits
(10),(11) 708.5 723.6
Thrift institutions
36 Savings deposits,
including MMDAs 538.8 553.2
37 Small time deposits (9) 342.3 337.6
38 Large time deposits (10) 115.5 114.1
Money market mutual
funds
39 Retail 986.0 987.5
40 Institution-only 1,117.8 1,165.2
Repurchase agreements
and eurodollars
41 Repurchase agreements 349.9 371.6
42 Eurodollars 220.5 230.0
Debt components
43 Federal debt 3,318.2 n.a.
44 Nonfederal debt 15,749.1 n.a.
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section, Division
of Monetary Affairs, Board of Governors of the Federal Reserve System,
Washington, DC 20551.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted M1 is computed by summing currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government, not
including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks of
nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the U.S.
government, and foreign banks and official institutions, less cash
items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small time
deposits.
(10.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and foreign
banks and official institutions.
(12.) Includes both overnight and term.
Commercial Banking Institutions--Assets and Liabilities 1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
Account 2000 2001
Nov. (r) May (r) June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 5,165.5 5,331.6 5,328.3 5,328.9
2 Securities in bank
credit 1,310.4 1,370.7 1,380.5 1,386.4
3 U.S. government
securities 786.2 766.8 764.4 770.1
4 Other securities 524.3 603.9 616.1 616.2
5 Loans and leases in
bank credit (2) 3,855.1 3,960.9 3,947.8 3,942.5
6 Commercial and
industrial 1,083.6 1,097.6 1,080.9 1,070.4
7 Real estate 1,651.9 1,705.0 1,708.3 1,717.5
8 Revolving home
equity 127.5 135.3 136.3 137.5
9 Other 1,524.4 1,569.7 1,572.0 1,580.0
10 Consumer 536.4 553.4 551.8 549.9
11 Security (3) 165.3 168.2 172.1 170.2
12 Other loans and
leases 418.0 436.8 434.7 434.5
13 Interbank loans 245.1 283.0 267.7 273.0
14 Cash assets (4) 274.1 282.3 275.5 288.8
15 Other assets (5) 384.9 416.7 408.8 419.1
16 Total assets (6) 6,006.9 6,247.8 6,214.3 6,243.3
Liabilities
17 Deposits 3,782.2 4,011.5 4,045.5 4,071.4
18 Transaction 601.0 613.1 601.0 606.1
19 Nontransaction 3,181.2 3,398.4 3,444.4 3,465.3
20 Large time 915.8 967.0 980.0 975.2
21 Other 2,265.5 2,431.4 2,464.4 2,490.1
22 Borrowings 1,188.5 1,238.8 1,205.4 1,217.4
23 From banks in the
U.S. 365.7 384.1 382.0 390.0
24 From others 822.9 854.7 823.4 827.4
25 Net due to related
foreign offices 244.3 207.4 184.5 191.0
26 Other liabilities 357.8 350.5 362.6 342.6
27 Total liabilities 5,572.8 5,808.2 5,797.9 5,822.5
28 Residual (assets less
liabilities) (7) 434.2 439.6 416.4 420.9
Not seasonally adjusted
Assets
29 Bank credit 5,184.7 5,320.9 5,321.1 5,308.2
30 Securities in bank
credit 1,314.4 1,369.9 1,379.9 1,377.3
31 U.S. government
securities 787.3 767.7 764.8 766.1
32 Other securities 527.1 602.2 615.1 611.3
33 Loans and leases in
bank credit (2) 3,870.3 3,950.9 3,941.3 3,930.9
34 Commercial and
industrial 1,084.6 1,099.9 1,083.2 1,069.6
35 Real estate 1,657.4 1,705.4 1,707.6 1,716.6
36 Revolving home
equity 128.1 135.3 136.4 137.9
37 Other 1,529.3 1,570.0 1,571.2 1,578.6
38 Consumer 536.8 551.2 549.1 547.4
39 Credit cards and
related plans 208.7 218.9 217.2 216.8
40 Other 328.1 332.3 331.9 330.6
41 Security (3) 171.3 162.2 167.6 162.5
42 Other loans and
leases 420.1 432.4 433.8 434.9
43 Interbank loans 251.8 276.4 265.5 265.3
44 Cash assets (4) 282.0 280.0 271.6 279.7
45 Other assets (5) 384.5 417.1 409.7 417.7
46 Total assets (6) 6,040.2 6,228.4 6,201.9 6,204.5
Liabilities
47 Deposits 3,804.2 3,999.5 4,026.5 4,039.7
48 Transaction 607.1 603.4 600.7 599.8
49 Nontransaction 3,197.0 3,396.1 3,425.8 3,439.9
50 Large time 923.2 965.7 970.4 961.3
51 Other 2,273.9 2,430.4 2,455.4 2,478.6
52 Borrowings 1,196.8 1,243.8 1,206.2 1,208.2
53 From banks in the
U.S. 366.5 387.3 382.8 386.7
54 From others 830.3 856.6 823.4 821.4
55 Net due to related
foreign offices 246.5 206.6 180.7 184.7
56 Other liabilities 359.9 351.3 360.4 338.1
57 Total liabilities 5,607.4 5,801.2 5,773.9 5,770.6
58 Residual (assets less
liabilities) (7) 432.9 427.2 428.0 433.9
Monthly averages
Account 2001
Aug. (r) Sept. (r) Oct. (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 5,346.2 5,419.6 5,400.2 5,427.8
2 Securities in bank
credit 1,417.7 1,438.1 1,465.6 1,477.4
3 U.S. government
securities 783.5 795.0 814.7 824.6
4 Other securities 634.2 643.2 651.0 652.7
5 Loans and leases in
bank credit (2) 3,928.5 3,981.5 3,934.6 3,950.4
6 Commercial and
industrial 1,063.8 1,067.7 1,051.5 1,039.7
7 Real estate 1,715.9 1,723.3 1,733.1 1,748.6
8 Revolving home
equity 139.4 142.1 147.4 149.9
9 Other 1,576.5 1,581.2 1,585.7 1,598.7
10 Consumer 547.9 548.4 552.6 559.6
11 Security (3) 171.1 181.4 149.9 150.2
12 Other loans and
leases 429.8 460.8 447.4 452.3
13 Interbank loans 287.8 355.8 315.8 306.9
14 Cash assets (4) 284.1 329.2 300.2 292.4
15 Other assets (5) 432.7 470.7 490.4 479.1
16 Total assets (6) 6,283.5 6,507.4 6,436.7 6,435.7
Liabilities
17 Deposits 4,083.7 4,208.9 4,164.3 4,184.5
18 Transaction 611.0 689.2 637.2 631.5
19 Nontransaction 3,472.7 3,519.8 3,527.0 3,553.0
20 Large time 965.1 964.6 976.5 976.0
21 Other 2,507.6 2,555.2 2,550.6 2,577.0
22 Borrowings 1,228.2 1,282.1 1,261.0 1,237.2
23 From banks in the
U.S. 398.1 443.6 421.6 402.8
24 From others 830.1 838.5 839.4 834.4
25 Net due to related
foreign offices 194.4 170.8 176.6 161.1
26 Other liabilities 356.1 409.6 382.2 415.7
27 Total liabilities 5,862.5 6,071.4 5,984.0 5,998.6
28 Residual (assets less
liabilities) (7) 421.0 436.0 425.7 437.1
Not seasonally adjusted
Assets
29 Bank credit 5,328.8 5,414.0 5,408.1 5,448.3
30 Securities in bank
credit 1,410.9 1,434.4 1,463.4 1,481.3
31 U.S. government
securities 778.9 791.9 809.7 825.0
32 Other securities 632.0 642.4 653.7 656.3
33 Loans and leases in
bank credit (2) 3,918.0 3,979.6 3,944.6 3,967.0
34 Commercial and
industrial 1,057.7 1,064.4 1,051.0 1,040.8
35 Real estate 1,719.0 1,726.9 1,736.8 1,754.5
36 Revolving home
equity 140.2 143.4 148.6 150.7
37 Other 1,578.8 1,583.5 1,588.2 1,603.9
38 Consumer 548.9 550.6 552.4 560.0
39 Credit cards and
related plans 218.0 217.1 218.3 226.2
40 Other 331.0 333.5 334.0 333.8
41 Security (3) 162.6 175.2 156.2 156.9
42 Other loans and
leases 429.7 462.6 448.2 454.8
43 Interbank loans 276.4 343.9 309.3 315.3
44 Cash assets (4) 272.3 324.5 300.7 301.2
45 Other assets (5) 429.8 470.7 485.9 478.6
46 Total assets (6) 6,239.8 6,485.0 6,434.3 6,472.7
Liabilities
47 Deposits 4,043.1 4,183.4 4,151.7 4,207.8
48 Transaction 597.2 683.1 631.4 637.7
49 Nontransaction 3,445.9 3,500.3 3,520.3 3,570.1
50 Large time 951.6 953.2 970.3 983.8
51 Other 2,494.3 2,547.2 2,550.0 2,586.3
52 Borrowings 1,206.7 1,276.8 1,258.6 1,245.6
53 From banks in the
U.S. 389.9 433.8 416.4 403.6
54 From others 816.8 843.0 842.3 841.9
55 Net due to related
foreign offices 193.5 172.7 177.1 163.1
56 Other liabilities 356.0 410.0 382.3 418.2
57 Total liabilities 5,799.3 6,042.8 5,969.6 6,034.6
58 Residual (assets less
liabilities) (7) 440.6 442.1 464.7 438.1
Wednesday figures
Account 2001
Nov. 7 Nov. 14 Nov. 21 Nov. 28
Seasonally adjusted
Assets
1 Bank credit 5,442.7 5,434.1 5,430.8 5,403.0
2 Securities in bank
credit 1,505.5 1,477.0 1,475.0 1,452.9
3 U.S. government
securities 832.6 813.9 819.5 825.7
4 Other securities 672.6 663.1 655.5 627.2
5 Loans and leases in
bank credit (2) 3,937.2 3,957.1 3,955.9 3,950.2
6 Commercial and
industrial 1,042.3 1,041.8 1,042.0 1,034.2
7 Real estate 1,745.3 1,748.2 1,746.9 1,750.0
8 Revolving home
equity 149.3 149.4 150.0 150.4
9 Other 1,595.9 1,598.8 1,596.9 1,599.6
10 Consumer 556.0 556.3 561.6 564.1
11 Security (3) 144.0 158.0 150.9 149.7
12 Other loans and
leases 449.6 452.7 454.5 452.1
13 Interbank loans 317.4 306.7 305.1 304.3
14 Cash assets (4) 284.6 320.0 296.6 269.6
15 Other assets (5) 474.6 474.5 478.1 489.6
16 Total assets (6) 6,448.9 6,464.8 6,440.2 6,395.8
Liabilities
17 Deposits 4,158.0 4,226.9 4,189.5 4,158.5
18 Transaction 599.8 652.5 642.8 633.7
19 Nontransaction 3,558.2 3,574.4 3,546.7 3,524.8
20 Large time 973.2 982.2 973.6 976.3
21 Other 2,584.9 2,592.2 2,573.1 2,548.5
22 Borrowings 1,245.6 1,233.0 1,227.2 1,246.0
23 From banks in the
U.S. 423.8 404.6 392.4 390.7
24 From others 821.8 828.3 834.8 855.3
25 Net due to related
foreign offices 163.3 152.1 169.7 157.9
26 Other liabilities 451.2 431.4 420.6 375.7
27 Total liabilities 6,018.1 6,043.4 6,007.0 5,938.1
28 Residual (assets less
liabilities) (7) 430.8 421.5 433.1 457.7
Not seasonally adjusted
Assets
29 Bank credit 5,467.1 5,454.3 5,442.7 5,426.8
30 Securities in bank
credit 1,508.9 1,480.0 1,477.7 1,457.7
31 U.S. government
securities 833.2 814.3 819.3 825.9
32 Other securities 675.8 665.7 658.3 631.8
33 Loans and leases in
bank credit (2) 3,958.2 3,974.4 3,965.0 3,969.1
34 Commercial and
industrial 1,044.8 1,042.7 1,042.7 1,035.1
35 Real estate 1,752.5 1,755.3 1,751.0 1,755.5
36 Revolving home
equity 150.2 150.3 150.7 151.0
37 Other 1,602.3 1,605.0 1,600.3 1,604.4
38 Consumer 555.1 556.1 562.5 565.9
39 Credit cards and
related plans 220.6 222.3 229.3 232.1
40 Other 334.5 333.8 333.2 333.8
41 Security (3) 153.8 164.8 153.1 157.5
42 Other loans and
leases 451.9 455.5 455.8 455.2
43 Interbank loans 327.8 318.4 308.1 310.2
44 Cash assets (4) 283.5 339.7 298.4 284.9
45 Other assets (5) 475.9 474.4 473.0 490.0
46 Total assets (6) 6,483.9 6,516.2 6,451.5 6,441.0
Liabilities
47 Deposits 4,176.9 4,259.9 4,199.1 4,184.6
48 Transaction 596.1 667.2 641.6 647.9
49 Nontransaction 3,580.8 3,592.7 3,557.5 3,536.7
50 Large time 977.5 988.2 981.6 987.9
51 Other 2,603.3 2,604.5 2,575.9 2,548.8
52 Borrowings 1,256.1 1,245.0 1,232.0 1,253.0
53 From banks in the
U.S. 425.4 406.7 391.8 390.8
54 From others 830.7 838.3 840.2 862.2
55 Net due to related
foreign offices 166.0 153.0 170.6 160.3
56 Other liabilities 453.3 432.2 423.5 379.8
57 Total liabilities 6,052.3 6,090.2 6,025.2 5,977.7
58 Residual (assets less
liabilities) (7) 431.6 426.1 426.3 463.3
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2001
Nov. (r) May (r) June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 4,576.0 4,718.6 4,723.1 4,732.2
2 Securities in bank
credit 1,112.9 1,155.0 1,162.6 1,166.3
3 U.S. government
securities 718.4 698.6 698.6 706.2
4 Other securities 394.5 456.4 464.0 460.1
5 Loans and leases in
bank credit (2) 3,463.1 3,563.6 3,560.5 3,565.9
6 Commercial and
industrial 877.4 879.5 869.8 864.5
7 Real estate 1,633.6 1,686.8 1,690.1 1,699.3
8 Revolving home
equity 127.5 135.3 136.3 137.5
9 Other 1,506.1 1,551.5 1,553.9 1,561.8
10 Consumer 536.4 553.4 551.8 549.9
11 Security (3) 65.3 75.2 80.8 83.5
12 Other loans and
leases 350.4 368.8 368.0 368.7
13 Interbank loans 218.1 253.9 246.4 251.8
14 Cash assets (4) 235.6 244.9 239.1 252.0
15 Other assets (5) 349.4 379.3 371.7 388.8
16 Total assets (6) 5,316.9 5,531.3 5,514.8 5,558.5
Liabilities
17 Deposits 3,400.3 3,602.9 3,626.7 3,657.7
18 Transaction 590.1 602.5 591.6 596.9
19 Nontransaction 2,810.2 3,000.4 3,035.1 3,060.7
20 Large time 546.9 571.3 573.1 573.0
21 Other 2,263.3 2,429.1 2,462.1 2,487.8
22 Borrowings 965.0 1,019.5 989.3 1,006.2
23 From banks in the
U.S. 347.1 363.8 359.5 367.7
24 From others 617.9 655.7 629.8 638.5
25 Net due to related
foreign offices 237.0 211.8 204.1 207.1
26 Other liabilities 284.6 264.0 277.7 263.2
27 Total liabilities 4,886.9 5,098.2 5,097.7 5,134.2
28 Residual (assets less
liabilities) (7) 429.9 433.1 417.0 424.3
Not seasonally adjusted
Assets
29 Bank credit 4,592.4 4,712.6 4,719.7 4,716.0
30 Securities in bank
credit 1,116.9 1,154.2 1,161.9 1,157.3
31 U.S. government
securities 719.5 699.5 699.0 702.2
32 Other securities 397.4 454.8 462.9 455.1
33 Loans and leases in
bank credit (2) 3,475.5 3,558.3 3,557.7 3,558.7
34 Commercial and
industrial 877.8 884.8 873.2 864.4
35 Real estate 1,639.2 1,687.2 1,689.5 1,698.3
36 Revolving home
equity 128.1 135.3 136.4 137.9
37 Other 1,511.0 1,551.8 1,553.1 1,560.4
38 Consumer 536.8 551.2 549.1 547.4
39 Credit cards and
related plans 208.7 218.9 217.2 216.8
40 Other 328.1 332.3 331.9 330.6
41 Security (3) 69.8 70.0 78.2 78.6
42 Other loans and
leases 352.0 365.2 367.7 370.1
43 Interbank loans 224.8 247.4 244.2 244.0
44 Cash assets (4) 241.5 243.5 236.4 244.2
45 Other assets (5) 349.0 380.2 373.9 388.1
46 Total assets (6) 5,345.4 5,518.1 5,508.5 5,526.3
Liabilities
47 Deposits 3,419.6 3,589.7 3,614.8 3,636.2
48 Transaction 596.1 593.2 591.3 590.5
49 Nontransaction 2,823.5 2,996.5 3,023.5 3,045.7
50 Large time 551.8 568.4 570.4 569.3
51 Other 2,271.7 2,428.1 2,453.1 2,476.3
52 Borrowings 973.3 1,024.5 990.1 997.0
53 From banks in the
U.S. 347.9 366.9 360.3 364.5
54 From others 625.4 657.6 629.8 632.5
55 Net due to related
foreign offices 238.9 214.1 203.4 204.0
56 Other liabilities 286.5 266.3 277.1 260.1
57 Total liabilities 4,918.3 5,094.7 5,085.4 5,097.3
58 Residual (assets less
liabilities) (7) 427.1 423.4 423.0 429.0
Monthly averages
Account 2001
Aug. (r) Sept. (r) Oct. (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 4,750.8 4,827.2 4,813.2 4,835.3
2 Securities in bank
credit 1,197.4 1,215.8 1,239.4 1,249.9
3 U.S. government
securities 720.2 728.3 742.5 750.1
4 Other securities 477.2 487.5 496.9 499.8
5 Loans and leases in
bank credit (2) 3,553.4 3,611.3 3,573.8 3,585.4
6 Commercial and
industrial 859.0 862.6 850.8 838.9
7 Real estate 1,697.5 1,704.5 1,714.3 1,729.6
8 Revolving home
equity 139.4 142.1 147.4 149.9
9 Other 1,558.1 1,562.5 1,566.9 1,579.7
10 Consumer 547.9 548.4 552.6 559.6
11 Security (3) 86.5 102.4 77.2 73.3
12 Other loans and
leases 362.5 393.5 378.8 384.0
13 Interbank loans 267.6 329.8 291.7 281.3
14 Cash assets (4) 246.6 283.7 260.9 254.9
15 Other assets (5) 402.6 437.6 458.2 444.7
16 Total assets (6) 5,600.6 5,810.7 5,754.5 5,746.1
Liabilities
17 Deposits 3,676.8 3,799.5 3,742.0 3,756.0
18 Transaction 601.5 676.9 626.5 620.8
19 Nontransaction 3,075.3 3,122.6 3,115.5 3,135.3
20 Large time 570.1 569.8 567.7 560.6
21 Other 2,505.2 2,552.8 2,547.8 2,574.7
22 Borrowings 1,017.6 1,060.1 1,052.6 1,025.0
23 From banks in the
U.S. 377.4 412.9 398.1 378.6
24 From others 640.1 647.2 654.5 646.4
25 Net due to related
foreign offices 205.7 188.5 193.8 191.9
26 Other liabilities 277.6 329.2 307.2 338.1
27 Total liabilities 5,177.7 5,377.2 5,295.5 5,311.0
28 Residual (assets less
liabilities) (7) 422.9 433.4 459.0 435.1
Not seasonally adjusted
Assets
29 Bank credit 4,739.8 4,823.3 4,818.2 4,853.0
30 Securities in bank
credit 1,190.6 1,212.1 1,237.2 1,253.8
31 U.S. government
securities 715.6 725.3 737.6 750.5
32 Other securities 475.0 486.8 499.6 503.3
33 Loans and leases in
bank credit (2) 3,549.2 3,611.2 3,581.0 3,599.2
34 Commercial and
industrial 854.2 859.7 850.1 839.3
35 Real estate 1,700.6 1,708.1 1,718.0 1,735.5
36 Revolving home
equity 140.2 143.4 148.6 150.7
37 Other 1,560.4 1,564.7 1,569.4 1,584.8
38 Consumer 548.9 550.6 552.4 560.0
39 Credit cards and
related plans 218.0 217.1 218.3 226.2
40 Other 331.0 333.5 334.0 333.8
41 Security (3) 81.8 97.3 80.4 78.4
42 Other loans and
leases 363.7 395.4 380.1 386.0
43 Interbank loans 256.2 317.9 285.2 289.7
44 Cash assets (4) 236.0 280.0 260.6 261.6
45 Other assets (5) 399.9 437.8 454.2 444.2
46 Total assets (6) 5,564.8 5,791.2 5,748.9 5,778.2
Liabilities
47 Deposits 3,647.9 3,781.9 3,736.8 3,776.1
48 Transaction 587.6 670.4 620.5 626.8
49 Nontransaction 3,060.3 3,111.5 3,116.3 3,149.3
50 Large time 568.3 566.8 569.1 565.4
51 Other 2,492.0 2,544.8 2,547.2 2,583.9
52 Borrowings 996.0 1,054.8 1,050.3 1,033.3
53 From banks in the
U.S. 369.2 403.2 392.9 379.4
54 From others 626.8 651.6 657.3 653.9
55 Net due to related
foreign offices 206.1 188.0 193.9 193.7
56 Other liabilities 278.0 328.4 307.1 340.5
57 Total liabilities 5,128.1 5,353.1 5,288.1 5,343.6
58 Residual (assets less
liabilities) (7) 436.8 438.2 460.8 434.5
Wednesday figures
Account 2001
Nov. 7 Nov. 14 Nov. 21 Nov. 28
Seasonally adjusted
Assets
1 Bank credit 4,846.2 4,836.3 4,839.1 4,818.5
2 Securities in bank
credit 1,271.8 1,245.9 1,249.3 1,232.5
3 U.S. government
securities 755.6 736.7 745.7 755.3
4 Other securities 516.2 509.2 503.6 477.2
5 Loans and leases in
bank credit (2) 3,574.3 3,590.4 3,589.8 3,586.0
6 Commercial and
industrial 841.9 840.4 839.9 834.7
7 Real estate 1,726.3 1,729.1 1,727.8 1,731.1
8 Revolving home
equity 149.3 149.4 150.0 150.4
9 Other 1,576.9 1,579.8 1,577.9 1,580.7
10 Consumer 556.0 556.3 561.6 564.1
11 Security (3) 69.0 79.4 72.9 73.8
12 Other loans and
leases 381.1 385.2 387.5 382.4
13 Interbank loans 293.9 280.6 281.7 276.0
14 Cash assets (4) 246.7 281.7 258.9 233.3
15 Other assets (5) 443.4 439.0 445.2 450.8
16 Total assets (6) 5,760.3 5,767.5 5,754.8 5,708.2
Liabilities
17 Deposits 3,738.5 3,797.5 3,759.2 3,724.3
18 Transaction 588.9 641.8 632.3 623.1
19 Nontransaction 3,149.6 3,155.7 3,126.9 3,101.2
20 Large time 567.1 565.8 556.2 555.0
21 Other 2,582.6 2,589.9 2,570.7 2,546.2
22 Borrowings 1,028.6 1,011.9 1,025.6 1,035.6
23 From banks in the
U.S. 397.2 375.3 371.8 369.6
24 From others 631.5 636.6 653.8 666.0
25 Net due to related
foreign offices 190.9 185.5 195.4 193.4
26 Other liabilities 369.8 352.1 345.4 299.7
27 Total liabilities 5,327.9 5,347.0 5,325.6 5,253.0
28 Residual (assets less
liabilities) (7) 432.4 420.5 429.2 455.3
Not seasonally adjusted
Assets
29 Bank credit 4,864.8 4,853.6 4,852.5 4,838.3
30 Securities in bank
credit 1,275.3 1,248.8 1,252.0 1,237.3
31 U.S. government
securities 755.9 737.1 745.5 755.5
32 Other securities 519.4 511.7 506.5 481.8
33 Loans and leases in
bank credit (2) 3,589.5 3,604.8 3,600.4 3,600.9
34 Commercial and
industrial 843.6 840.7 839.9 834.7
35 Real estate 1,733.5 1,736.2 1,732.0 1,736.5
36 Revolving home
equity 150.2 150.3 150.7 151.0
37 Other 1,583.3 1,585.9 1,581.3 1,585.5
38 Consumer 555.1 556.1 562.5 565.9
39 Credit cards and
related plans 220.6 222.3 229.3 232.1
40 Other 334.5 333.8 333.2 333.8
41 Security (3) 74.1 84.2 77.8 79.2
42 Other loans and
leases 383.1 387.5 388.3 384.6
43 Interbank loans 304.4 292.3 284.7 281.9
44 Cash assets (4) 244.1 298.9 258.7 246.3
45 Other assets (5) 444.9 439.4 440.2 450.7
46 Total assets (6) 5,788.1 5,814.0 5,765.8 5,746.7
Liabilities
47 Deposits 3,758.2 3,828.5 3,765.2 3,743.2
48 Transaction 585.1 656.2 630.9 637.0
49 Nontransaction 3,173.0 3,172.3 3,134.3 3,106.2
50 Large time 572.1 570.2 560.8 559.7
51 Other 2,600.9 2,602.1 2,573.5 2,546.5
52 Borrowings 1,039.2 1,024.0 1,030.4 1,042.5
53 From banks in the
U.S. 398.7 377.4 371.2 369.7
54 From others 640.4 646.6 659.2 672.8
55 Net due to related
foreign offices 191.7 185.9 198.2 197.3
56 Other liabilities 371.2 352.8 349.0 304.3
57 Total liabilities 5,360.2 5,391.2 5,342.7 5,287.3
58 Residual (assets less
liabilities) (7) 428.0 422.8 423.1 459.4
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2001
Nov. (r) May (r) June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 2,556.4 2,635.7 2,632.9 2,625.3
2 Securities in bank
credit 576.7 610.0 613.1 609.9
3 U.S. government
securities 354.8 355.1 352.4 352.1
4 Trading account 21.6 35.3 35.1 38.3
5 Investment account 333.2 319.9 317.3 313.8
6 Other securities 221.9 254.8 260.7 257.8
7 Trading account 114.5 137.0 143.5 140.8
8 Investment account 107.4 117.8 117.2 117.1
9 State and local
government 26.3 28.1 27.9 27.8
10 Other 81.1 89.7 89.4 89.3
11 Loans and leases in
bank credit (2) 1,979.7 2,025.8 2,019.7 2,015.4
12 Commercial and
industrial 591.9 583.2 571.2 562.1
13 Bankers
acceptances 1.0 .8 .7 .0
14 Other 590.9 582.4 570.5 562.1
15 Real estate 828.5 856.2 854.9 855.7
16 Revolving home
equity 82.4 87.0 87.1 87.0
17 Other 746.1 769.1 767.9 768.7
18 Consumer 241.6 252.4 254.3 254.0
19 Security (3) 58.9 66.8 72.6 75.2
20 Federal funds sold
to and repur-
chase agreements
with broker--
dealers 42.4 49.4 54.8 59.6
21 Other 16.5 17.4 17.8 15.5
22 State and local
government 12.8 13.0 13.4 14.2
23 Agricultural 9.8 10.6 10.3 10.0
24 Federal funds sold
to and repurchase
agreements with
others 19.2 23.7 25.6 30.9
25 All other loans 86.6 85.5 84.8 81.6
26 Lease-financing
receivables 130.4 134.4 132.6 131.7
27 Interbank loans 140.7 134.8 131.4 136.2
28 Federal funds sold to
and repurchase
agreements with
commercial banks 64.2 73.4 72.7 71.3
29 Other 76.6 61.4 58.7 64.9
30 Cash assets (4) 140.0 140.1 135.8 146.3
31 Other assets (5) 261.1 274.1 261.8 269.5
32 Total assets (6) 3,062.3 3,147.0 3,124.2 3,139.3
Liabilities
33 Deposits 1,660.7 1,734.8 1,739.4 1,751.6
34 Transaction 299.0 304.8 300.3 306.7
35 Nontransaction 1,361.8 1,430.0 1,439.1 1,444.9
36 Large time 258.3 271.1 274.5 271.5
37 Other 1,103.5 1,159.0 1,164.6 1,173.4
38 Borrowings 646.0 683.4 655.2 668.7
39 From banks in the U.S. 196.8 213.5 211.1 218.9
40 From others 449.2 469.9 444.1 449.7
41 Net due to related
foreign offices 213.3 195.2 190.9 192.4
42 Other liabilities 233.9 208.9 221.3 204.3
43 Total liabilities 2,754.0 2,822.3 2,806.8 2,816.9
44 Residual (assets less
liabilities) (7) 308.3 324.6 317.4 322.4
Not seasonally adjusted
Assets
45 Bank credit 2,572.1 2,629.2 2,627.5 2,609.0
46 Securities in bank
credit 582.4 607.6 610.8 601.0
47 U.S. government
securities 357.6 354.4 351.1 348.1
48 Trading account 21.8 35.2 35.0 37.9
49 Investment account 335.8 319.3 316.1 310.3
50 Mortgage-backed
securities 216.2 234.2 229.7 229.0
51 Other 119.6 85.0 86.4 81.2
52 One year or
less 33.1 27.0 25.5 21.1
53 One to five
years 50.5 31.3 34.4 34.3
54 More than five
years 36.0 26.7 26.6 25.9
55 Other securities 224.8 253.2 259.7 252.9
56 Trading account 116.0 136.1 142.9 138.1
57 Investment account 108.8 117.1 116.8 114.8
58 State and local
government 26.6 28.0 27.8 27.3
59 Other 82.2 89.1 89.0 87.6
60 Loans and leases in
bank credit (2) 1,989.7 2,021.6 2,016.7 2,008.0
61 Commercial and
industrial 593.0 585.9 572.8 562.1
62 Bankers
acceptances 1.0 .8 .7 .0
63 Other 592.1 585.1 572.1 562.1
64 Real estate 833.7 855.7 853.6 854.2
65 Revolving home
equity 82.8 87.0 87.3 87.6
66 Other 454.7 469.0 465.4 465.7
67 Commercial 296.2 299.8 300.9 300.9
68 Consumer 240.0 252.9 253.8 252.3
69 Credit cards and
related plans 78.1 87.0 88.0 87.3
70 Other 161.9 165.9 165.8 165.0
71 Security (3) 63.0 62.0 70.2 70.5
72 Federal funds sold
to and repur-
chase agreements
with broker--
dealers 45.4 45.8 53.0 55.9
73 Other 17.6 16.2 17.3 14.6
74 State and local
government 12.8 13.0 13.4 14.2
75 Agricultural 9.8 10.5 10.4 10.1
76 Federal funds sold
to and repurchase
agreements with
others 19.2 23.7 25.6 30.9
77 All other loans 87.9 84.1 84.8 82.4
78 Lease-financing
receivables 130.1 133.7 132.2 131.2
79 Interbank loans 141.6 137.1 135.9 136.0
80 Federal funds sold to
and repurchase
agreements with
commercial banks 64.6 74.6 75.1 71.2
81 Other 77.0 62.5 60.7 64.8
82 Cash assets (4) 141.1 140.2 134.3 139.9
83 Other assets (5) 260.8 275.0 264.0 268.8
84 Total assets (6) 3,079.4 3,143.7 3,123.8 3,115.8
Liabilities
85 Deposits 1,667.9 1,728.1 1,739.0 1,743.4
86 Transaction 301.3 300.6 300.4 301.9
87 Nontransaction 1,366.6 1,427.5 1,438.5 1,441.5
88 Large time 263.1 268.2 271.9 267.9
89 Other 1,103.5 1,159.3 1,166.6 1,173.6
90 Borrowings 654.3 688.5 656.0 659.4
91 From banks in the U.S. 197.7 216.7 211.9 215.6
92 From nonbanks in the
U.S. 456.6 471.8 444.1 443.8
93 Net due to related
foreign offices 215.3 197.5 190.3 189.2
94 Other liabilities 235.8 211.2 220.7 201.2
95 Total liabilities 2,773.3 2,825.3 2,806.0 2,793.2
96 Residual (assets less
liabilities) (7) 306.1 318.4 317.8 322.6
Monthly averages
Account 2001
Aug. (r) Sept. (r) Oct. (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 2,625.5 2,688.9 2,630.8 2,634.3
2 Securities in bank
credit 631.1 642.2 649.7 654.0
3 U.S. government
securities 359.4 362.5 363.9 367.7
4 Trading account 36.3 37.9 35.7 40.3
5 Investment account 323.2 324.5 328.2 327.4
6 Other securities 271.7 279.8 285.9 286.4
7 Trading account 153.1 160.9 165.4 163.9
8 Investment account 118.5 118.8 120.4 122.5
9 State and local
government 27.6 27.5 26.8 27.1
10 Other 91.0 91.4 93.7 95.4
11 Loans and leases in
bank credit (2) 1,994.4 2,046.7 1,981.0 1,980.2
12 Commercial and
industrial 557.0 561.3 548.4 538.4
13 Bankers
acceptances .0 .0 .0 .0
14 Other 557.0 561.3 548.4 538.4
15 Real estate 846.3 845.7 839.4 848.1
16 Revolving home
equity 87.6 89.3 92.4 94.3
17 Other 758.7 756.4 747.1 753.8
18 Consumer 251.1 252.7 243.8 244.6
19 Security (3) 78.0 93.7 69.4 65.5
20 Federal funds sold
to and repur-
chase agreements
with broker--
dealers 63.5 66.3 56.6 52.2
21 Other 14.5 27.4 12.8 13.2
22 State and local
government 14.2 14.4 15.3 15.6
23 Agricultural 9.4 9.2 9.2 9.3
24 Federal funds sold
to and repurchase
agreements with
others 31.9 32.6 28.7 30.6
25 All other loans 75.6 107.2 92.9 92.6
26 Lease-financing
receivables 131.0 129.9 134.0 135.6
27 Interbank loans 150.5 208.7 188.2 177.1
28 Federal funds sold to
and repurchase
agreements with
commercial banks 80.1 132.9 106.7 103.0
29 Other 70.4 75.8 81.5 74.0
30 Cash assets (4) 140.3 173.9 151.5 148.2
31 Other assets (5) 281.4 309.4 328.7 316.2
32 Total assets (6) 3,159.5 3,342.8 3,259.8 3,236.1
Liabilities
33 Deposits 1,753.9 1,858.9 1,793.9 1,798.3
34 Transaction 304.3 375.6 322.5 321.1
35 Nontransaction 1,449.6 1,483.3 1,471.4 1,477.2
36 Large time 264.8 264.7 259.9 251.0
37 Other 1,184.8 1,218.6 1,211.5 1,226.2
38 Borrowings 674.0 705.1 688.5 658.7
39 From banks in the U.S. 226.5 257.4 232.5 213.0
40 From others 447.4 447.8 456.0 445.7
41 Net due to related
foreign offices 190.3 178.0 184.3 181.7
42 Other liabilities 217.2 266.9 243.0 272.9
43 Total liabilities 2,835.4 3,008.9 2,909.7 2,911.7
44 Residual (assets less
liabilities) (7) 324.1 333.9 350.1 324.4
Not seasonally adjusted
Assets
45 Bank credit 2,611.3 2,679.4 2,633.9 2,650.8
46 Securities in bank
credit 624.9 638.6 649.9 659.8
47 U.S. government
securities 355.5 359.6 361.4 369.9
48 Trading account 35.9 37.6 35.4 40.5
49 Investment account 319.6 321.9 325.9 329.4
50 Mortgage-backed
securities 241.7 247.2 257.5 255.8
51 Other 77.9 74.8 68.5 73.6
52 One year or
less 20.1 20.1 18.4 27.4
53 One to five
years 33.8 34.6 32.7 31.4
54 More than five
years 24.0 20.1 17.4 14.8
55 Other securities 269.5 279.0 288.6 289.9
56 Trading account 151.9 160.5 167.0 165.9
57 Investment account 117.6 118.5 121.6 124.1
58 State and local
government 27.3 27.4 27.0 27.5
59 Other 90.2 91.1 94.5 96.6
60 Loans and leases in
bank credit (2) 1,986.4 2,040.8 1,983.9 1,991.0
61 Commercial and
industrial 553.8 559.9 548.0 539.4
62 Bankers
acceptances .0 .0 .0 .0
63 Other 553.8 559.9 548.0 539.4
64 Real estate 847.6 847.6 842.0 853.6
65 Revolving home
equity 88.6 90.5 93.3 94.8
66 Other 458.7 455.9 441.5 450.4
67 Commercial 300.3 301.2 307.2 308.3
68 Consumer 249.9 251.5 241.4 243.0
69 Credit cards and
related plans 85.1 84.6 75.7 76.4
70 Other 164.8 166.9 165.6 166.6
71 Security (3) 73.6 88.7 72.5 70.1
72 Federal funds sold
to and repur-
chase agreements
with broker--
dealers 59.9 62.9 59.1 56.0
73 Other 13.7 25.9 13.4 14.2
74 State and local
government 14.2 14.4 15.3 15.6
75 Agricultural 9.6 9.3 9.3 9.4
76 Federal funds sold
to and repurchase
agreements with
others 31.9 32.6 28.7 30.6
77 All other loans 75.7 108.4 93.1 93.8
78 Lease-financing
receivables 130.2 128.5 133.8 135.5
79 Interbank loans 145.0 200.9 180.6 178.1
80 Federal funds sold to
and repurchase
agreements with
commercial banks 77.2 127.9 102.3 103.7
81 Other 67.8 73.0 78.2 74.5
82 Cash assets (4) 132.5 169.6 150.6 149.6
83 Other assets (5) 278.8 309.7 324.7 315.7
84 Total assets (6) 3,129.2 3,321.1 3,250.5 3,254.4
Liabilities
85 Deposits 1,737.9 1,847.7 1,787.3 1,805.5
86 Transaction 293.2 369.2 316.9 323.6
87 Nontransaction 1,444.7 1,478.5 1,470.4 1,482.0
88 Large time 263.0 261.6 261.2 255.8
89 Other 1,181.7 1,216.8 1,209.2 1,226.2
90 Borrowings 652.4 699.8 686.2 667.1
91 From banks in the U.S. 218.3 247.6 227.3 213.8
92 From nonbanks in the
U.S. 434.1 452.2 458.9 453.2
93 Net due to related
foreign offices 190.6 177.4 184.5 183.5
94 Other liabilities 217.6 266.1 242.9 275.3
95 Total liabilities 2,798.6 2,991.1 2,900.9 2,931.5
96 Residual (assets less
liabilities) (7) 330.6 330.1 349.7 323.0
Wednesday figures
Account 2001
Nov. 7 Nov. 14 Nov. 21 Nov. 28
Seasonally adjusted
Assets
1 Bank credit 2,649.7 2,639.3 2,637.6 2,613.6
2 Securities in bank
credit 677.7 651.3 654.2 635.5
3 U.S. government
securities 374.7 355.8 363.8 371.0
4 Trading account 35.9 38.4 40.1 45.7
5 Investment account 338.8 317.4 323.7 325.3
6 Other securities 303.0 295.5 290.3 264.5
7 Trading account 180.8 172.8 167.2 142.3
8 Investment account 122.2 122.6 123.1 122.2
9 State and local
government 27.1 27.2 27.3 27.1
10 Other 95.1 95.4 95.9 95.1
11 Loans and leases in
bank credit (2) 1,972.0 1,988.0 1,983.4 1,978.0
12 Commercial and
industrial 540.3 539.8 539.6 535.4
13 Bankers
acceptances n.a. n.a. n.a. n.a.
14 Other 540.3 539.8 539.6 535.4
15 Real estate 846.7 849.1 846.3 847.8
16 Revolving home
equity 93.9 94.0 94.4 94.6
17 Other 752.8 755.2 751.9 753.3
18 Consumer 243.2 243.5 244.7 246.4
19 Security (3) 61.2 71.5 65.0 66.0
20 Federal funds sold
to and repur-
chase agreements
with broker--
dealers 47.8 58.5 52.5 52.0
21 Other 13.4 13.0 12.6 13.9
22 State and local
government 15.7 15.7 15.6 15.6
23 Agricultural 9.2 9.4 9.4 9.3
24 Federal funds sold
to and repurchase
agreements with
others 29.6 31.7 30.0 30.8
25 All other loans 91.0 92.2 96.5 90.7
26 Lease-financing
receivables 135.1 135.2 136.1 136.0
27 Interbank loans 193.5 175.2 173.9 172.1
28 Federal funds sold to
and repurchase
agreements with
commercial banks 106.8 106.0 102.0 102.3
29 Other 86.7 69.2 71.9 69.8
30 Cash assets (4) 142.6 170.2 149.5 131.7
31 Other assets (5) 317.7 309.0 316.9 322.1
32 Total assets (6) 3,264.1 3,254.1 3,238.4 3,199.7
Liabilities
33 Deposits 1,790.7 1,833.9 1,794.8 1,774.1
34 Transaction 302.7 344.9 323.7 314.3
35 Nontransaction 1,487.9 1,489.0 1,471.0 1,459.8
36 Large time 255.8 254.6 246.7 247.4
37 Other 1,232.1 1,234.4 1,224.3 1,212.4
38 Borrowings 667.3 644.1 659.8 665.5
39 From banks in the U.S. 231.5 207.8 206.9 205.0
40 From others 435.8 436.3 452.9 460.4
41 Net due to related
foreign offices 180.0 177.9 184.1 182.4
42 Other liabilities 305.1 286.8 280.2 234.4
43 Total liabilities 2,943.0 2,942.7 2,918.8 2,856.4
44 Residual (assets less
liabilities) (7) 321.0 311.4 319.7 343.3
Not seasonally adjusted
Assets
45 Bank credit 2,666.4 2,655.1 2,650.9 2,631.8
46 Securities in bank
credit 683.1 656.0 658.8 642.0
47 U.S. government
securities 376.9 358.0 365.6 372.8
48 Trading account 36.1 38.6 40.3 45.9
49 Investment account 340.8 319.4 325.3 326.9
50 Mortgage-backed
securities 270.0 247.1 250.4 251.3
51 Other 708.0 72.3 74.9 75.6
52 One year or
less 23.8 26.9 28.6 29.8
53 One to five
years 30.8 30.5 31.7 31.7
54 More than five
years 16.2 14.9 14.5 14.1
55 Other securities 306.2 298.0 293.2 269.1
56 Trading account 182.7 174.3 168.8 144.8
57 Investment account 123.4 123.7 124.4 124.3
58 State and local
government 27.4 27.5 27.5 27.5
59 Other 96.1 96.2 96.8 96.8
60 Loans and leases in
bank credit (2) 1,983.3 1,999.1 1,992.0 1,989.8
61 Commercial and
industrial 542.5 541.0 540.6 535.9
62 Bankers
acceptances n.a. n.a. n.a. n.a.
63 Other 542.5 541.0 540.6 535.9
64 Real estate 852.8 855.3 850.7 852.8
65 Revolving home
equity 94.5 94.5 94.9 95.0
66 Other 451.0 452.4 446.9 449.0
67 Commercial 307.3 308.4 309.0 308.8
68 Consumer 241.0 241.4 243.0 245.5
69 Credit cards and
related plans 74.7 75.3 76.5 78.6
70 Other 166.4 166.2 166.5 166.9
71 Security (3) 65.7 75.9 69.6 71.3
72 Federal funds sold
to and repur-
chase agreements
with broker--
dealers 51.3 62.1 56.2 56.2
73 Other 14.4 13.8 13.4 15.1
74 State and local
government 15.7 15.7 15.6 15.6
75 Agricultural 9.3 9.4 9.4 9.3
76 Federal funds sold
to and repurchase
agreements with
others 29.6 31.7 30.0 30.8
77 All other loans 91.6 93.6 97.1 93.0
78 Lease-financing
receivables 135.1 135.1 135.9 135.7
79 Interbank loans 192.1 178.7 171.8 175.8
80 Federal funds sold to
and repurchase
agreements with
commercial banks 106.0 108.1 100.7 104.5
81 Other 86.1 70.6 71.0 71.3
82 Cash assets (4) 138.7 178.8 145.6 136.7
83 Other assets (5) 319.2 309.4 311.9 322.0
84 Total assets (6) 3,276.7 3,282.3 3,240.5 3,226.4
Liabilities
85 Deposits 1,795.1 1,849.7 1,793.7 1,781.7
86 Transaction 296.1 353.8 321.9 323.4
87 Nontransaction 1,499.0 1,495.9 1,471.8 1,458.3
88 Large time 260.8 259.0 251.3 252.1
89 Other 1,238.2 1,236.9 1,220.5 1,206.2
90 Borrowings 677.8 656.2 664.5 672.4
91 From banks in the U.S. 233.0 209.9 206.3 205.1
92 From nonbanks in the
U.S. 444.8 446.3 458.3 467.3
93 Net due to related
foreign offices 180.8 178.3 186.8 186.3
94 Other liabilities 306.5 287.4 283.8 239.1
95 Total liabilities 2,960.1 2,971.6 2,928.9 2,879.5
96 Residual (assets less
liabilities) (7) 316.5 310.7 311.6 346.9
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2001
Nov. (r) May (r) June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 2,019.6 2,082.9 2,090.2 2,106.9
2 Securities in bank
credit 536.3 545.1 549.4 556.4
3 U.S. government
securities 363.6 343.5 346.2 354.2
4 Other securities 172.6 201.6 203.2 202.2
5 Loans and leases in
bank credit (2) 1,483.3 1,537.8 1,540.8 1,550.5
6 Commercial and
industrial 285.5 296.3 298.6 302.4
7 Real estate 805.1 830.6 835.2 843.6
8 Revolving home
equity 45.1 48.3 49.2 50.5
9 Other 760.0 782.3 786.0 793.1
10 Consumer 294.9 300.9 297.5 295.9
11 Security (3) 6.4 8.4 8.2 8.3
12 Other loans and
leases 91.6 101.6 101.3 100.3
13 Interbank loans 77.4 119.1 114.9 115.5
14 Cash assets (4) 95.7 104.8 103.3 105.6
15 Other assets (5) 88.3 105.3 109.9 119.3
16 Total assets (6) 2,254.6 2,384.3 2,390.6 2,419.2
Liabilities
17 Deposits 1,739.6 1,868.1 1,887.3 1,906.1
18 Transaction 291.1 297.7 291.2 290.2
19 Nontransaction 1,448.4 1,570.4 1,596.1 1,615.9
20 Large time 288.7 300.2 298.5 301.5
21 Other 1,159.8 1,270.1 1,297.5 1,314.4
22 Borrowings 319.0 336.1 334.1 337.6
23 From banks in the U.S. 150.3 150.3 148.4 148.8
24 From others 168.7 185.8 185.7 188.7
25 Net due to related
foreign offices 23.7 16.6 13.1 14.7
26 Other liabilities 50.7 55.1 56.4 58.9
27 Total liabilities 2,132.9 2,275.9 2,290.9 2,317.3
28 Residual (assets less
liabilities) (7) 121.7 108.4 99.7 101.9
Not seasonally adjusted
Assets
29 Bank credit 2,020.4 2,083.4 2,092.2 2,107.0
30 Securities in bank
credit 534.5 546.6 551.1 556.2
31 U.S. government
securities 361.9 345.0 347.8 354.0
32 Other securities 172.6 201.6 203.2 202.2
33 Loans and leases in
bank credit (2) 1,485.9 1,536.8 1,541.1 1,550.7
34 Commercial and
industrial 284.8 298.9 300.4 302.3
35 Real estate 805.4 831.4 835.9 844.1
36 Revolving home
equity 45.3 48.4 49.2 50.3
37 Other 760.1 783.0 786.8 793.8
38 Consumer 296.8 298.3 295.3 295.1
39 Credit cards and
related plans 130.6 131.9 129.3 129.5
40 Other 166.2 166.3 166.0 165.6
41 Security (3) 6.7 8.0 8.0 8.1
42 Other loans and
leases 92.1 100.2 101.4 101.2
43 Interbank loans 83.2 110.2 108.3 108.0
44 Cash assets (4) 100.4 103.3 102.1 104.3
45 Other assets (5) 88.3 105.3 109.9 119.3
46 Total assets (6) 2,266.0 2,374.4 2,384.7 2,410.5
Liabilities
47 Deposits 1,751.6 1,861.7 1,875.9 1,892.8
48 Transaction 294.8 292.6 290.9 288.7
49 Nontransaction 1,456.9 1,569.1 1,585.0 1,604.2
50 Large time 288.7 300.2 298.5 301.5
51 Other 1,168.2 1,268.8 1,286.5 1,302.7
52 Borrowings 319.0 336.1 334.1 337.6
53 From banks in the U.S. 150.3 150.3 148.4 148.8
54 From others 168.7 185.8 185.7 188.7
55 Net due to related
foreign offices 23.7 16.6 13.1 14.7
56 Other liabilities 50.7 55.1 56.4 58.9
57 Total liabilities 2,145.0 2,269.4 2,279.5 2,304.1
58 Residual (assets less
liabilities) (7) 121.0 104.9 105.2 106.4
Monthly averages
Account 2001
Aug. (r) Sept. (r) Oct. (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 2,125.3 2,138.3 2,182.5 2,201.0
2 Securities in bank
credit 566.3 573.6 589.7 595.8
3 U.S. government
securities 360.8 365.8 378.6 382.4
4 Other securities 205.5 207.8 211.1 213.4
5 Loans and leases in
bank credit (2) 1,559.0 1,564.7 1,592.8 1,605.2
6 Commercial and
industrial 302.1 301.3 302.5 300.6
7 Real estate 851.2 858.8 874.9 881.5
8 Revolving home
equity 51.8 52.8 55.0 55.6
9 Other 799.4 806.1 819.9 825.9
10 Consumer 296.8 295.6 308.8 315.0
11 Security (3) 8.4 8.7 7.8 7.8
12 Other loans and
leases 100.5 100.3 98.8 100.3
13 Interbank loans 117.0 121.1 103.5 104.2
14 Cash assets (4) 106.4 109.8 109.4 106.7
15 Other assets (5) 121.2 128.1 129.5 128.5
16 Total assets (6) 2,441.0 2,467.8 2,494.7 2,510.0
Liabilities
17 Deposits 1,922.8 1,940.5 1,948.1 1,957.7
18 Transaction 297.2 301.2 303.9 299.6
19 Nontransaction 1,625.7 1,639.3 1,644.2 1,658.1
20 Large time 305.3 305.1 307.9 309.6
21 Other 1,320.4 1,334.2 1,336.3 1,348.5
22 Borrowings 343.6 355.0 364.1 366.2
23 From banks in the U.S. 150.9 155.6 165.7 165.6
24 From others 192.7 199.4 198.4 200.6
25 Net due to related
foreign offices 15.5 10.5 9.5 10.2
26 Other liabilities 60.4 62.3 64.2 65.2
27 Total liabilities 2,342.3 2,368.3 2,385.8 2,399.3
28 Residual (assets less
liabilities) (7) 98.7 99.5 108.9 110.6
Not seasonally adjusted
Assets
29 Bank credit 2,128.5 2,143.9 2,184.3 2,202.2
30 Securities in bank
credit 565.6 573.5 587.3 594.0
31 U.S. government
securities 360.1 365.7 376.2 380.6
32 Other securities 205.5 207.8 211.1 213.4
33 Loans and leases in
bank credit (2) 1,562.9 1,570.4 1,597.0 1,608.2
34 Commercial and
industrial 300.4 299.8 302.1 299.9
35 Real estate 853.0 860.6 876.0 881.9
36 Revolving home
equity 51.6 53.0 55.3 55.9
37 Other 801.4 807.6 820.7 826.1
38 Consumer 299.1 299.2 311.0 317.0
39 Credit cards and
related plans 132.9 132.5 142.6 149.8
40 Other 166.2 166.6 168.4 167.3
41 Security (3) 8.2 8.6 7.9 8.2
42 Other loans and
leases 102.2 102.3 100.0 101.1
43 Interbank loans 111.2 117.0 104.6 111.5
44 Cash assets (4) 103.6 110.5 110.1 112.1
45 Other assets (5) 121.2 128.1 129.5 128.5
46 Total assets (6) 2,435.6 2,470.1 2,498.4 2,523.7
Liabilities
47 Deposits 1,910.0 1,934.2 1,949.5 1,970.5
48 Transaction 294.4 301.2 303.6 303.2
49 Nontransaction 1,615.6 1,633.0 1,645.9 1,667.3
50 Large time 305.3 305.1 307.9 309.6
51 Other 1,310.3 1,327.9 1,338.0 1,357.8
52 Borrowings 343.6 355.0 364.1 366.2
53 From banks in the U.S. 150.9 155.6 165.7 165.6
54 From others 192.7 199.4 198.4 200.6
55 Net due to related
foreign offices 15.5 10.5 9.5 10.2
56 Other liabilities 60.4 62.3 64.2 65.2
57 Total liabilities 2,329.4 2,362.0 2,387.2 2,412.1
58 Residual (assets less
liabilities) (7) 106.2 108.1 111.2 111.6
Wednesday figures
Account 2001
Nov. 7 Nov. 14 Nov. 21 Nov. 28
Seasonally adjusted
Assets
1 Bank credit 2,196.5 2,197.0 2,201.5 2,204.9
2 Securities in bank
credit 594.1 594.6 595.2 597.0
3 U.S. government
securities 380.9 380.9 381.9 384.3
4 Other securities 213.2 213.7 213.3 212.7
5 Loans and leases in
bank credit (2) 1,602.3 1,602.4 1,606.3 1,608.0
6 Commercial and
industrial 301.6 300.6 300.3 299.3
7 Real estate 879.6 880.0 881.5 883.2
8 Revolving home
equity 55.4 55.4 55.6 55.8
9 Other 824.2 824.6 825.9 827.4
10 Consumer 312.9 312.9 316.9 317.7
11 Security (3) 7.8 7.9 7.8 7.8
12 Other loans and
leases 100.5 101.0 99.8 100.0
13 Interbank loans 100.4 105.4 107.8 103.9
14 Cash assets (4) 104.0 111.5 109.4 101.6
15 Other assets (5) 125.7 130.0 128.3 128.7
16 Total assets (6) 2,496.2 2,513.4 2,516.4 2,508.5
Liabilities
17 Deposits 1,947.9 1,963.6 1,964.4 1,950.2
18 Transaction 286.2 296.9 308.6 308.8
19 Nontransaction 1,661.7 1,666.7 1,655.9 1,641.4
20 Large time 311.3 311.2 309.5 307.6
21 Other 1,350.5 1,355.5 1,346.3 1,333.8
22 Borrowings 361.3 367.8 365.8 370.1
23 From banks in the U.S. 165.7 167.5 164.9 164.6
24 From others 195.6 200.3 200.9 205.5
25 Net due to related
foreign offices 10.9 7.6 11.3 11.0
26 Other liabilities 64.7 65.3 65.2 65.3
27 Total liabilities 2,384.8 2,404.3 2,406.8 2,396.5
28 Residual (assets less
liabilities) (7) 111.4 109.1 109.5 112.0
Not seasonally adjusted
Assets
29 Bank credit 2,198.4 2,198.5 2,201.6 2,206.5
30 Securities in bank
credit 592.2 592.8 593.2 595.4
31 U.S. government
securities 379.0 379.2 379.9 382.7
32 Other securities 213.2 213.7 213.3 212.7
33 Loans and leases in
bank credit (2) 1,606.2 1,605.7 1,608.4 1,611.1
34 Commercial and
industrial 301.1 299.7 299.2 298.9
35 Real estate 880.7 880.9 881.3 883.7
36 Revolving home
equity 55.7 55.8 55.8 56.1
37 Other 825.0 825.1 825.4 827.7
38 Consumer 314.1 314.7 319.5 320.4
39 Credit cards and
related plans 145.9 147.1 152.7 153.5
40 Other 168.2 167.6 166.7 166.9
41 Security (3) 8.4 8.4 8.2 8.0
42 Other loans and
leases 101.9 102.0 100.3 100.2
43 Interbank loans 112.3 113.6 112.9 106.1
44 Cash assets (4) 105.4 120.1 113.2 109.6
45 Other assets (5) 125.7 130.0 128.3 128.7
46 Total assets (6) 2,511.4 2,531.7 2,525.3 2,520.3
Liabilities
47 Deposits 1,963.1 1,978.8 1,971.0 1,961.4
48 Transaction 289.0 302.4 309.0 313.6
49 Nontransaction 1,674.0 1,676.4 1,662.5 1,647.9
50 Large time 311.3 311.2 309.5 307.6
51 Other 1,362.8 1,365.2 1,353.0 1,340.3
52 Borrowings 361.3 367.8 365.8 370.1
53 From banks in the U.S. 165.7 167.5 164.9 164.6
54 From others 195.6 200.3 200.9 205.5
55 Net due to related
foreign offices 10.9 7.6 11.3 11.0
56 Other liabilities 64.7 65.3 65.2 65.3
57 Total liabilities 2,400.0 2,419.6 2,413.8 2,407.8
58 Residual (assets less
liabilities) (7) 111.4 112.1 111.5 112.5
E. Foreign-related institutions
Billions of dollars
Monthly averages
Account 2000 2001
Nov. May (r) June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 589.6 613.0 605.2 596.7
2 Securities in bank
credit 197.5 215.7 217.9 220.1
3 U.S. government
securities 67.8 (r) 68.2 65.8 63.9
4 Other securities 129.7 (r) 147.5 152.2 156.1
5 Loans and leases in
bank credit (2) 392.1 397.3 387.3 376.6
6 Commercial and
industrial 206.2 218.2 211.1 205.9
7 Real estate 18.3 18.2 18.1 18.2
8 Security (3) 100.0 93.0 91.3 86.7
9 Other loans and
leases 67.6 68.0 66.7 65.8
10 Interbank loans 27.0 29.1 21.3 21.2
11 Cash assets (4) 38.4 (r) 37.4 36.3 36.8
12 Other assets (5) 35.4 37.4 37.1 30.4
13 Total assets (6) 690.1 716.5 699.6 684.8
Liabilities
14 Deposits 381.9 (r) 408.6 418.8 413.7
15 Transaction 10.8 10.6 9.5 9.2
16 Nontransaction 371.0 398.0 409.3 404.6
17 Borrowings 223.5 219.3 216.1 211.2
18 From banks in the U.S. 18.6 20.3 22.5 22.3
19 From others 204.9 199.0 193.7 188.9
20 Net due to related
foreign offices 7.3 -4.3 -19.6 -16.1
21 Other liabilities 73.2 86.5 84.9 79.4
22 Total liabilities 685.9 (r) 710.0 700.2 688.2
23 Residual (assets less
liabilities) (7) 4.2 (r) 6.5 -.6 -3.4
Not seasonally adjusted
Assets
24 Bank credit 592.2 (r) 608.3 601.4 592.2
25 Securities in bank
credit 197.5 215.7 217.9 220.1
26 U.S. government
securities 67.8 (r) 68.2 65.8 63.9
27 Trading account 10.9 13.8 13.8 13.0
28 Investment account 56.9 (r) 54.4 52.0 50.9
29 Other securities 129.7 (r) 147.5 152.2 156.1
30 Trading account 89.6 99.9 106.4 108.1
31 Investment account 40.1 (r) 47.6 45.8 48.1
32 Loans and leases in
bank credit (2) 394.7 (r) 392.6 383.5 372.1
33 Commercial and
industrial 206.8 215.1 210.0 205.2
34 Real estate 18.3 18.2 18.1 18.2
35 Security (3) 101.5 92.2 89.4 83.9
36 Other loans and
leases 68.1 67.2 66.1 64.8
37 Interbank loans 27.0 29.1 21.3 21.2
38 Cash assets (4) 40.5 36.5 35.2 35.5
39 Other assets (5) 35.5 36.8 35.8 29.6
40 Total assets (6) 694.8 (r) 710.4 693.4 678.2
Liabilities
41 Deposits 384.6 (r) 409.7 411.6 403.5
42 Transaction 11.0 10.2 9.4 9.3
43 Nontransaction 373.6 (r) 399.5 402.3 394.3
44 Borrowings 223.5 219.3 216.1 211.2
45 From banks in the U.S. 18.6 20.3 22.5 22.3
46 From others 204.9 199.0 193.7 188.9
47 Net due to related
foreign offices 7.6 -7.5 -22.7 -19.3
48 Other liabilities 73.4 85.0 83.4 78.0
49 Total liabilities 689.1 706.5 688.4 673.4
50 Residual (assets less
liabilities) (7) 5.8 3.8 5.0 4.9
Monthly averages
Account 2001
Aug. (r) Sept. (r) Oct. (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 595.5 592.5 587.0 592.5
2 Securities in bank
credit 220.3 222.3 226.2 227.5
3 U.S. government
securities 63.3 66.7 72.2 74.6
4 Other securities 157.0 155.6 154.1 152.9
5 Loans and leases in
bank credit (2) 375.2 370.2 360.7 365.0
6 Commercial and
industrial 204.8 205.1 200.7 200.8
7 Real estate 18.4 18.7 18.8 19.0
8 Security (3) 84.7 79.0 72.7 76.9
9 Other loans and
leases 67.3 67.4 68.5 68.2
10 Interbank loans 20.2 26.0 24.1 25.6
11 Cash assets (4) 37.5 45.5 39.3 37.5
12 Other assets (5) 30.1 33.2 32.2 34.4
13 Total assets (6) 682.9 696.7 682.1 689.6
Liabilities
14 Deposits 407.0 409.5 422.3 428.5
15 Transaction 9.5 12.3 10.8 10.7
16 Nontransaction 397.4 397.2 411.5 417.8
17 Borrowings 210.6 222.0 208.3 212.3
18 From banks in the U.S. 20.7 30.6 23.4 24.2
19 From others 190.0 191.4 184.9 188.0
20 Net due to related
foreign offices -11.3 -17.7 -17.2 -30.8
21 Other liabilities 78.5 80.4 75.0 77.6
22 Total liabilities 684.8 694.1 688.4 687.6
23 Residual (assets less
liabilities) (7) -1.9 2.6 -6.3 2.0
Not seasonally adjusted
Assets
24 Bank credit 589.0 590.7 589.9 595.3
25 Securities in bank
credit 220.3 222.3 226.2 227.5
26 U.S. government
securities 63.3 66.7 72.2 74.6
27 Trading account 12.3 14.0 15.3 14.1
28 Investment account 51.0 52.6 56.8 60.5
29 Other securities 157.0 155.6 154.1 152.9
30 Trading account 111.0 110.1 108.7 107.9
31 Investment account 46.0 45.6 45.4 45.0
32 Loans and leases in
bank credit (2) 368.7 368.4 363.7 367.8
33 Commercial and
industrial 203.5 204.7 200.9 201.5
34 Real estate 18.4 18.7 18.8 19.0
35 Security (3) 80.8 77.9 75.9 78.5
36 Other loans and
leases 66.0 67.1 68.1 68.8
37 Interbank loans 20.2 26.0 24.1 25.6
38 Cash assets (4) 36.3 44.5 40.1 39.6
39 Other assets (5) 29.8 32.9 31.7 34.4
40 Total assets (6) 675.0 693.7 685.3 694.6
Liabilities
41 Deposits 395.1 401.4 414.9 431.8
42 Transaction 9.5 12.6 10.9 10.9
43 Nontransaction 385.6 388.8 403.9 420.8
44 Borrowings 210.6 222.0 208.3 212.3
45 From banks in the U.S. 20.7 306.0 23.4 24.2
46 From others 190.0 191.4 184.9 188.0
47 Net due to related
foreign offices -12.6 -15.2 -16.9 -30.7
48 Other liabilities 78.0 81.5 75.2 77.7
49 Total liabilities 671.2 689.7 681.5 691.0
50 Residual (assets less
liabilities) (7) 3.8 4.0 3.8 3.5
Wednesday figures
Account 2001
Nov. 7 Nov. 14 Nov. 21 Nov. 28
Seasonally adjusted
Assets
1 Bank credit 596.5 597.8 591.7 584.5
2 Securities in bank
credit 233.6 231.1 225.6 220.3
3 U.S. government
securities 77.3 77.2 73.8 70.4
4 Other securities 156.3 154.0 151.8 150.0
5 Loans and leases in
bank credit (2) 362.9 366.7 366.1 364.1
6 Commercial and
industrial 200.4 201.5 202.1 199.5
7 Real estate 19.0 19.1 19.0 19.0
8 Security (3) 75.0 78.6 78.1 76.0
9 Other loans and
leases 68.5 67.6 66.9 69.7
10 Interbank loans 23.4 26.1 23.4 28.3
11 Cash assets (4) 37.9 38.3 37.7 36.3
12 Other assets (5) 31.2 35.5 32.9 38.8
13 Total assets (6) 688.6 697.3 685.4 687.6
Liabilities
14 Deposits 419.4 429.4 430.3 434.2
15 Transaction 10.9 10.7 10.5 10.6
16 Nontransaction 408.5 418.7 419.8 423.6
17 Borrowings 217.0 221.0 201.6 210.5
18 From banks in the U.S. 26.7 29.3 20.6 21.1
19 From others 190.3 191.7 181.0 189.4
20 Net due to related
foreign offices -27.6 -33.4 -25.6 -35.5
21 Other liabilities 81.4 79.3 75.2 76.0
22 Total liabilities 690.2 696.3 681.5 685.2
23 Residual (assets less
liabilities) (7) -1.6 1.0 3.9 2.4
Not seasonally adjusted
Assets
24 Bank credit 602.3 600.7 590.2 588.5
25 Securities in bank
credit 233.6 231.1 225.6 220.3
26 U.S. government
securities 77.3 77.2 73.8 70.4
27 Trading account 14.6 14.8 14.1 12.9
28 Investment account 62.7 62.3 59.7 57.5
29 Other securities 156.3 154.0 151.8 150.0
30 Trading account 109.8 108.9 107.9 105.3
31 Investment account 46.6 45.1 43.9 44.7
32 Loans and leases in
bank credit (2) 368.7 369.6 364.6 368.2
33 Commercial and
industrial 201.2 201.9 202.8 200.3
34 Real estate 19.0 19.1 19.0 19.0
35 Security (3) 79.7 80.5 75.3 78.2
36 Other loans and
leases 68.8 68.0 67.5 70.6
37 Interbank loans 23.4 26.1 23.4 28.3
38 Cash assets (4) 39.5 40.8 39.6 38.6
39 Other assets (5) 31.0 35.0 32.8 39.4
40 Total assets (6) 695.8 702.2 685.7 694.4
Liabilities
41 Deposits 418.7 431.4 433.9 441.4
42 Transaction 10.9 11.0 10.7 10.9
43 Nontransaction 407.8 420.4 423.2 430.5
44 Borrowings 217.0 221.0 201.6 210.5
45 From banks in the U.S. 26.7 29.3 20.6 21.1
46 From others 190.3 191.7 181.0 189.4
47 Net due to related
foreign offices -25.7 -32.9 -27.5 -36.9
48 Other liabilities 82.2 79.5 74.5 75.5
49 Total liabilities 692.2 699.0 682.4 690.4
50 Residual (assets less
liabilities) (7) 3.7 3.3 3.3 4.0
F. Memo items
Billions of dollars
Monthly averages
Account 2000 2001
Nov. May (r) June (r) July (r)
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 68.1 82.0 87.5 79.8
2 Revaluation losses on
off-balance-sheet
items (8) 72.6 74.7 81.9 71.8
3 Mortgage-backed
securities (9) 245.3 (r) 265.8 262.2 261.8
4 Pass-through 177.5 200.7 200.8 200.2
5 CMO, REMIC, and other 67.7 65.1 61.4 61.7
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) .7 4.9 4.2 2.6
7 Off-shore credit to U.S.
residents (11) 23.1 21.0 20.6 20.2
8 Securitized consumer
loans (12) 77.4 80.3 81.7 96.2
9 Credit cards and
related plans 68.0 71.1 72.8 86.1
10 Other 9.4 9.2 9.0 10.1
11 Securitized business
loans (12) 14.2 14.2 14.7 14.8
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 208.8 (r) 229.2 232.8 240.0
13 Securitized consumer
loans (12) 227.3 (r) 236.8 240.3 228.8
14 Credit cards and
related plans 218.0 (r) 228.6 232.0 220.1
15 Other 9.4 (r) 8.2 8.3 8.7
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 46.4 56.8 57.7 54.9
17 Revaluation losses on
off-balance-sheet
items (8) 42.5 52.3 52.4 49.7
18 Securitized business
loans (12) 34.3 30.8 29.6 27.4
Monthly averages
Account 2001
Aug. (r) Sept. (r) Oct. (r) Nov.
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 89.8 97.9 100.3 103.0
2 Revaluation losses on
off-balance-sheet
items (8) 78.4 84.8 85.6 85.1
3 Mortgage-backed
securities (9) 274.0 279.8 289.3 290.1
4 Pass-through 212.3 218.1 222.2 206.3
5 CMO, REMIC, and other 61.7 61.6 67.1 83.8
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 5.0 7.0 9.4 10.1
7 Off-shore credit to U.S.
residents (11) 19.6 20.2 20.0 19.2
8 Securitized consumer
loans (12) 96.1 97.1 98.1 99.6
9 Credit cards and
related plans 85.6 86.8 87.8 88.3
10 Other 10.5 10.3 10.3 11.3
11 Securitized business
loans (12) 15.0 15.1 15.4 14.9
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 245.0 251.2 258.2 263.4
13 Securitized consumer
loans (12) 231.7 234.9 238.4 241.3
14 Credit cards and
related plans 223.1 226.3 230.2 232.7
15 Other 8.6 8.5 8.2 8.6
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 57.6 57.3 58.2 56.6
17 Revaluation losses on
off-balance-sheet
items (8) 52.1 51.4 49.3 49.3
18 Securitized business
loans (12) 26.6 26.5 26.6 25.2
Wednesday figures
Account 2001
Nov. 7 Nov. 14 Nov. 21 Nov. 28
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 117.0 105.3 108.1 87.1
2 Revaluation losses on
off-balance-sheet
items (8) 98.5 88.1 89.1 68.2
3 Mortgage-backed
securities (9) 303.0 282.0 285.4 285.8
4 Pass-through 219.8 200.1 203.9 203.0
5 CMO, REMIC, and other 83.2 82.0 81.5 82.9
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 11.6 10.7 9.6 9.8
7 Off-shore credit to U.S.
residents (11) 19.6 19.4 19.3 18.6
8 Securitized consumer
loans (12) 100.1 100.2 99.6 99.0
9 Credit cards and
related plans 88.7 88.7 88.3 87.8
10 Other 11.4 11.4 11.4 11.2
11 Securitized business
loans (12) 15.2 15.2 15.1 14.3
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 264.0 263.5 262.4 262.7
13 Securitized consumer
loans (12) 241.7 242.1 239.8 241.3
14 Credit cards and
related plans 233.1 233.5 231.2 232.8
15 Other 8.6 8.6 8.6 8.5
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 61.1 57.0 54.8 53.7
17 Revaluation losses on
off-balance-sheet
items (8) 53.7 49.4 47.6 47.1
18 Securitized business
loans (12) 26.0 25.6 25.2 24.1
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect changes
in the Board's H.8 statistical release, "Assets and Liabilities of
Commercial Banks in the United States." Table 1.27, "Assets and
Liabilities of Large Weekly Reporting Commercial Banks," and table
1.28, "Large Weekly Reporting U.S. Branches and Agencies of Foreign
Banks," are no longer being published in the Bulletin. Instead,
abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data
are both merger-adjusted and break-adjusted. In addition, data from
large weekly reporting U.S. branches and agencies of foreign banks
have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are
break-adjusted.
The not-seasonally-adjusted data for all tables now contain additional
balance sheet items, which were available as of October 2, 1996.
(1.) Covers the following types of institutions in the fifty states
and the District of Columbia: domestically chartered commercial banks
that submit a weekly report of condition (large domestic); other
domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and agreement corporations
(foreign-related institutions). Excludes International Banking
Facilities. Data are Wednesday values or pro rata averages of
Wednesday values. Large domestic banks constitute a universe; data
for small domestic banks and foreign-related institutions are
estimates based on weekly samples and on quarter-end condition
reports. Data are adjusted for breaks caused by reclassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19
are adjusted to remove the estimated effects of mergers between these
two groups. The adjustment for mergers changes past levels to make
them comparable with current levels. Estimated quantities of balance
sheet items acquired in mergers are removed from past data for the bank
group that contained the acquired bank and put into past data for the
group containing the acquiring bank. Balance sheet data for acquired
banks are obtained from Call Reports, and a ratio procedure is used to
adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans made
to commercial banks in the United States, all of which are included in
"Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due from
Federal Reserve Banks.
(5.) Excludes the due-from position with related foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported gross
of these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally adjusted
basis, this item reflects any differences in the seasonal patterns
estimated for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data
are reported net of tax effects. Data shown are restated to include
an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
Financial Markets
1.32 COMMERCIAL PAPER AND BANKERS DOLLAR ACCEPTANCES OUTSTANDING
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 2001
Item 1999 2000 May
1 All issuers 1,403,023 1,615,341 1,501,113
Financial companies (1)
2 Dealer-placed paper, total (2) 786,643 973,060 986,369
3 Directly placed paper,
total (3) 337,240 298,848 245,768
4 Nonfinancial companies (4) 279,140 343,433 268,976
2001
Item June July Aug.
1 All issuers 1,468,919 1,453,770 1,434,238
Financial companies (1)
2 Dealer-placed paper, total (2) 982,216 958,911 957,792
3 Directly placed paper,
total (3) 244,520 265,824 248,974
4 Nonfinancial companies (4) 242,183 229,035 227,473
2001
Item Sept. Oct.
1 All issuers 1,423,004 1,436,254
Financial companies (1)
2 Dealer-placed paper, total (2) 950,346 984,996
3 Directly placed paper,
total (3) 255,122 232,407
4 Nonfinancial companies (4) 217,537 218,851
(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.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
1999--Jan. 1 7.75
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
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Nov. 7 5.00
Dec. 12 4.75
Average
Period rate
1999 8.00
2000 9.23
2001 6.91
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
Period Average
rate
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
Period Average
rate
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
Nov. 5.10
Dec. 4.84
(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
2001
Item 1998 1999 2000 Aug.
MONEY MARKET INSTRUMENTS
1 Federal funds (1),(2),(3) 5.35 4.97 6.24 3.65
2 Discount window
borrowing (2),(4) 4.92 4.62 5.73 3.16
Commercial paper (3),(5),(6)
Nonfinancial
3 1-month 5.40 5.09 6.27 3.54
4 2-month 5.38 5.14 6.29 3.47
5 3-month 5.34 5.18 6.31 3.42
Financial
6 1-month 5.42 5.11 6.28 3.57
7 2-month 5.40 5.16 6.30 3.48
8 3-month 5.37 5.22 6.33 3.44
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)
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 5.39 5.24 6.23 n.a.
16 6-month 5.30 5.30 6.37 n.a.
Certificates of deposit,
secondary market (3),(10)
17 1-month 5.49 5.19 6.35 3.59
18 3-month 5.47 5.33 6.46 3.48
19 6-month 5.44 5.46 6.59 3.49
20 Eurodollar deposits,
3-month (3),(11) 5.45 5.31 6.45 3.47
U.S. Treasury bills
Secondary market (3),(5)
21 3-month 4.78 4.64 5.82 3.36
22 6-month 4.83 4.75 5.90 3.29
23 1-year 4.80 4.81 5.78 3.26
Auction high (3),(5),(12)
24 3-month 4.81 4.66 5.66 n.a.
25 6-month 4.85 4.76 5.85 n.a.
26 1-year 4.85 4.78 5.85 n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 5.05 5.08 6.11 3.47
28 2-year 5.13 5.43 6.26 3.76
29 3-year 5.14 5.49 6.22 4.04
30 5-year 5.15 5.55 6.16 4.57
31 7-year 5.28 5.79 6.20 4.84
32 10-year 5.26 5.65 6.03 4.97
33 20-year 5.72 6.20 6.23 5.58
34 30-year 5.58 5.87 5.94 5.48
Composite
35 More than 10 years (long-term) 5.69 6.14 6.41 n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.93 5.28 5.58 4.89
37 Baa 5.14 5.70 6.19 5.55
38 Bond Buyer series (15) 5.09 5.43 5.71 5.03
CORPORATE BONDS
39 Seasoned issues, all
industries (16) 6.87 7.45 7.98 7.37
Rating group
40 Aaa 6.53 7.05 7.62 7.02
41 Aa 6.80 7.36 7.83 7.11
42 A 6.93 7.53 8.11 7.48
43 Baa 7.22 7.88 8.37 (r) 7.85
MEMO
Dividend-price ratio (17)
44 Common stocks 1.49 1.25 1.15 1.34
2001,
2001 week
ending
Item Sept. Oct. Nov. Nov. 2
MONEY MARKET INSTRUMENTS
1 Federal funds (1),(2),(3) 3.07 2.49 2.09 2.55
2 Discount window
borrowing (2),(4) 2.77 2.02 1.58 2.00
Commercial paper (3),(5),(6)
Nonfinancial
3 1-month 2.96 2.40 2.03 2.23
4 2-month 2.87 2.30 2.00 2.15
5 3-month 2.81 2.28 1.97 2.11
Financial
6 1-month 2.97 2.42 2.04 2.24
7 2-month 2.87 2.31 2.02 2.13
8 3-month 2.84 2.29 2.00 2.11
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)
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 2.99 2.43 2.08 2.22
18 3-month 2.87 2.31 2.03 2.11
19 6-month 2.84 2.26 2.03 2.08
20 Eurodollar deposits,
3-month (3),(11) 2.85 2.31 2.03 2.14
U.S. Treasury bills
Secondary market (3),(5)
21 3-month 2.64 2.16 1.87 2.01
22 6-month 2.63 2.12 1.88 1.93
23 1-year n.a. n.a. n.a. n.a.
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 2.82 2.33 2.18 2.11
28 2-year 3.12 2.73 2.78 2.49
29 3-year 3.45 3.14 3.22 2.92
30 5-year 4.12 3.91 3.97 3.73
31 7-year 4.51 4.31 4.42 4.10
32 10-year 4.73 4.57 4.65 4.37
33 20-year 5.53 5.34 5.33 5.13
34 30-year 5.48 5.32 5.12 5.02
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 4.93 4.89 4.85 4.81
37 Baa 5.62 5.55 5.53 5.45
38 Bond Buyer series (15) 5.09 5.05 5.04 4.96
CORPORATE BONDS
39 Seasoned issues, all
industries (16) 7.54 7.41 7.32 7.22
Rating group
40 Aaa 7.17 7.03 6.97 6.86
41 Aa 7.28 7.13 7.01 6.92
42 A 7.67 7.59 7.49 7.38
43 Baa 8.03 7.91 7.81 7.73
MEMO
Dividend-price ratio (17)
44 Common stocks 1.48 1.45 1.38 1.47
2001, week ending
Nov. Nov. Nov. Nov.
Item 9 16 23 30
MONEY MARKET INSTRUMENTS
1 Federal funds (1),(2),(3) 2.36 2.03 2.10 1.95
2 Discount window
borrowing (2),(4) 1.86 1.50 1.50 1.50
Commercial paper (3),(5),(6)
Nonfinancial
3 1-month 2.02 2.00 2.02 1.99
4 2-month 1.98 1.96 2.03 1.99
5 3-month 1.93 1.93 2.02 1.98
Financial
6 1-month 2.06 2.01 2.04 1.99
7 2-month 1.98 1.99 2.04 2.03
8 3-month 1.97 1.96 2.02 2.00
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)
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 2.07 2.05 2.07 2.06
18 3-month 1.96 1.99 2.06 2.07
19 6-month 1.94 2.00 2.11 2.08
20 Eurodollar deposits,
3-month (3),(11) 1.98 2.00 2.07 2.03
U.S. Treasury bills
Secondary market (3),(5)
21 3-month 1.83 1.86 1.91 1.84
22 6-month 1.79 1.91 1.97 1.87
23 1-year n.a. n.a. n.a. n.a.
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 1.99 2.24 2.35 2.23
28 2-year 2.40 2.83 3.05 3.03
29 3-year 2.81 3.26 3.51 3.50
30 5-year 3.58 3.97 4.25 4.25
31 7-year 4.04 4.45 4.71 4.70
32 10-year 4.30 4.66 4.93 4.92
33 20-year 5.03 5.31 5.54 5.60
34 30-year 4.85 5.12 5.32 5.33
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 4.76 4.82 4.90 4.97
37 Baa 5.41 5.52 5.60 5.65
38 Bond Buyer series (15) 4.91 5.02 5.14 5.15
CORPORATE BONDS
39 Seasoned issues, all
industries (16) 7.11 7.32 7.49 7.46
Rating group
40 Aaa 6.75 6.97 7.16 7.10
41 Aa 6.79 7.02 7.19 7.15
42 A 7.27 7.48 7.66 7.64
43 Baa 7.62 7.81 7.96 7.95
MEMO
Dividend-price ratio (17)
44 Common stocks 1.40 1.37 1.37 1.38
NOTE. Some of the data in this table also appear in the Board's H. 15
(519) weekly statistical release. 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
2001
Indicator 1998 1999 2000 Mar.
Prices and trading volume
(averages of daily figures)
Common stock
prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 550.65 619.52 643.71 603.71
2 Industrial 684.35 775.29 809.40 744.21
3 Transportation 468.61 491.62 414.73 452.36
4 Utility 190.52 284.82 478.99 395.34
5 Finance 516.65 530.97 552.48 583.38
6 Standard & Poor's
Corporation
(1941-43 =
10) (1) 1,085.50 1,327.33 1,427.22 1,185.85
7 American Stock
Exchange (Aug.
31, 1973 =
50) (2) 682.69 770.90 922.22 891.22
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 666,534 799,554 1,026,867 1,251,569
9 American Stock
Exchange 28,870 32,629 51,437 81,666
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-
dealers (3) 140,980 228,530 198,790 165,350
Free credit
balances at
broker (4)
11 Margin accounts
(5) 40,250 55,130 100,680 106,300
12 Cash accounts 62,450 79,070 84,400 77,520
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 sale 70 80
2001
Indicator Apr. May. June July
Prices and trading volume
(averages of daily figures)
Common stock
prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 607.06 644.44 630.86 613.36
2 Industrial 747.48 798.94 782.73 756.04
3 Transportation 455.22 477.21 458.60 469.80
4 Utility 400.49 414.69 382.98 374.11
5 Finance 587.88 618.74 622.17 614.54
6 Standard & Poor's
Corporation
(1941-43 =
10) (1) 1,189.84 1,270.37 1,238.71 1,204.45
7 American Stock
Exchange (Aug.
31, 1973 =
50) (2) 891.18 940.73 923.06 892.74
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,247,382 1,091,366 1,152,193 1,120,074
9 American Stock
Exchange 77,612 66,103 62,395 56,735
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-
dealers (3) 166,940 174,180 170,000 165,250
Free credit
balances at
broker (4)
11 Margin accounts
(5) 97,470 91,990 98,430 97,950
12 Cash accounts 77,460 76,260 75,270 73,490
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 sale 65 55
2001
Indicator Aug. Sept. Oct. Nov.
Prices and trading volume
(averages of daily figures)
Common stock
prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 604.52 544.39 556.04 575.31
2 Industrial 748.65 672.89 688.35 715.98
3 Transportation 458.35 382.68 371.56 410.05
4 Utility 357.76 339.72 341.51 330.78
5 Finance 605.59 538.01 553.16 577.85
6 Standard & Poor's
Corporation
(1941-43 =
10) (1) 1,178.51 1,044.64 1,076.59 1,129.68
7 American Stock
Exchange (Aug.
31, 1973 =
50) (2) 883.01 823.78 825.91 814.78
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,012,907 1,666,980 1,293,019 1,242,965
9 American Stock
Exchange 48,304 72,319 66,765 88,694
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-
dealers (3) 161,130 144,670 144,010 (r) 148,650
Free credit
balances at
broker (4)
11 Margin accounts
(5) 103,990 115,450 101,850 (r) 98,330
12 Cash accounts 73,710 74,220 69,550 (r) 72,090
Margin requirements (percent
of market value and
effective date) (6)
Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 65 50
14 Convertible bonds 50 50
15 Short sale 65 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit at
broker-dealers has included credit extended against stocks,
convertible bonds, stocks acquired through the exercise of
subscription rights, corporate bonds, and government securities.
Separate reporting of data for margin stocks, convertible bonds, and
subscription issues was discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board
of Governors pursuant to the Securities Exchange Act of 1934, limit
the amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are
the difference between the market value (100 percent) and the maximum
loan value of collateral as prescribed by the Board. Regulation T was
adopted effective Oct. 15, 1934; Regulation U, effective May 1, 1936;
Regulation G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established
in Regulation T the initial margin required for writing options on
securities, setting it at 30 percent of the current market value of
the stock underlying the option. On Sept. 30, 1985, the Board changed
the required initial margin, allowing it to be the same as the option
maintenance margin required by the appropriate exchange or
self-regulatory organization; such maintenance margin rules must be
approved by the Securities and Exchange Commission.
Federal Finance
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Fiscal year
Type of account or operation
1999 2000 2001
U.S. budget (1)
1 Receipts, total 1,827,302 2,025,218 1,990,930 (r)
2 On-budget 1,382,986 1,544,634 1,483,411 (r)
3 Off-budget 444,468 480,584 507,519
4 Outlays, total 1,702,875 1,788,826 1,863,909 (r)
5 On-budget 1,382,097 1,458,061 1,517,071 (r)
6 Off-budget 320,778 330,765 346,838
7 Surplus or deficit (-),
total 124,579 236,392 127,021
8 On-budget 889 86,573 -33,660
9 Off-budget 123,690 149,819 160,682
Source of financing (total)
10 Borrowing from the public -88,674 -222,807 -90,118
11 Operating cash (decrease,
or increase [-]) -17,580 3,799 8,440
12 Other (2) -18,325 -17,384 -45,343
MEMO
13 Treasury operating balance
(level, end of period) 56,458 52,659 44,219
14 Federal Reserve Banks 6,641 8,459 9,796
15 Tax and loan accounts 49,817 44,199 34,423
Calendar year
Type of account or operation 2001
June July Aug.
U.S. budget (1)
1 Receipts, total 202,887 127,842 122,559
2 On-budget 151,482 89,473 84,011
3 Off-budget 51,405 38,369 38,548
4 Outlays, total 171,025 125,022 202,549
5 On-budget 167,796 92,145 138,167
6 Off-budget 3,229 32,877 64,382
7 Surplus or deficit (-),
total 31,862 2,820 -79,990
8 On-budget -16,314 -2,672 -54,156
9 Off-budget 48,176 5,492 -25,834
Source of financing (total)
10 Borrowing from the public -1,212 -7,460 74,101
11 Operating cash (decrease,
or increase [-]) -37,413 20,589 16,769
12 Other (2) 6,763 -15,949 -10,880
MEMO
13 Treasury operating balance
(level, end of period) 43,687 23,098 6,329
14 Federal Reserve Banks 7,188 5,592 5,533
15 Tax and loan accounts 36,498 17,506 795
Calendar year
Type of account or operation 2001
Sept. Oct. Nov.
U.S. budget (1)
1 Receipts, total 158,496 157,163 121,233
2 On-budget 116,598 122,004 83,375
3 Off-budget 41,898 35,159 37,858
4 Outlays, total 123,250 166,548 175,500
5 On-budget 111,255 134,014 140,388
6 Off-budget 11,996 32,534 35,112
7 Surplus or deficit (-),
total 35,245 -9,385 -54,267
8 On-budget 5,343 -12,010 -57,013
9 Off-budget 29,902 2,625 2,746
Source of financing (total)
10 Borrowing from the public 1,996 -3,695 72,036
11 Operating cash (decrease,
or increase [-]) -37,890 16,612 -2,908
12 Other (2) 649 -3,532 -14,861
MEMO
13 Treasury operating balance
(level, end of period) 44,219 27,607 30,515
14 Federal Reserve Banks 9,796 5,112 6,219
15 Tax and loan accounts 34,423 22,495 24,295
(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; and
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
Calendar
Fiscal year year
Source or type 1999
2000 2001
H2
RECEIPTS
1 All sources 2,025,218 1,990,930 (r) 892,266
2 Individual income taxes, net 1,004,462 994,339 425,451
3 Withheld 780,397 793,386 372,012
4 Nonwithheld 358,049 383,146 68,302
5 Refunds 134,046 182,251 14,841
Corporation income taxes
6 Gross receipts 235,655 186,732 110,111
7 Refunds 28,367 35,657 13,996
8 Social insurance taxes and
contributions, net 652,852 693,967 292,551
9 Employment taxes and
contributions (2) 620,451 661,442 280,059
10 Unemployment insurance 27,640 27,812 10,173
11 Other net receipts (3) 4,761 4,712 2,319
12 Excise taxes 68,865 66,232 34,262
13 Customs deposits 19,914 19,616 10,287
14 Estate and gift taxes 29,010 28,400 14,001
15 Miscellaneous receipts (4) 42,826 36,576 19,569
OUTLAYS
16 All types 1,788,826 1,863,909 (r) 882,465
17 National defense 294,494 304,486 149,573
18 International affairs 17,216 16,522 8,530
19 General science, space, and
technology 18,637 20,715 10,089
20 Energy -1,060 48 (r) -90
21 Natural resources and
environment 25,031 23,738 12,100
22 Agriculture 36,641 28,339 20,887
23 Commerce and housing credit 3,211 5,801 7,353
24 Transportation 46,854 53,882 23,199
25 Community and regional
development 10,629 12,827 6,806
26 Education, training,
employment, and social
services 59,201 62,869 27,532
27 Health 154,534 171,912 74,490
28 Social security and Medicare 606,549 650,407 295,030
29 Income security 247,895 263,274 113,504
30 Veterans benefits and
services 47,083 45,029 23,412
31 Administration of justice 27,820 29,754 13,459
32 General government 13,454 15,084 7,010
33 Net interest (5) 223,218 206,088 112,420
34 Undistributed offsetting
receipts (6) -42,581 -47,011 -22,850
Calendar year
Source or type 2000 2001
H1 H2 H1
RECEIPTS
1 All sources 1,089,763 953,667 (r) 1,120,040
2 Individual income taxes, net 550,208 458,679 580,632
3 Withheld 388,526 395,572 402,417
4 Nonwithheld 281,103 77,732 308,418
5 Refunds 119,477 14,628 130,256
Corporation income taxes
6 Gross receipts 119,166 123,962 102,947
7 Refunds 13,781 15,776 20,262
8 Social insurance taxes and
contributions, net 353,514 310,122 379,878
9 Employment taxes and
contributions (2) 333,584 297,665 359,648
10 Unemployment insurance 17,562 10,097 17,842
11 Other net receipts (3) 2,368 2,360 2,387
12 Excise taxes 33,532 35,501 32,490
13 Customs deposits 9,218 10,676 9,370
14 Estate and gift taxes 15,073 13,216 15,471
15 Miscellaneous receipts (4) 22,831 17,286 (r) 19,517
OUTLAYS
16 All types 892,947 895,630 (r) 948,750
17 National defense 143,476 147,651 153,154
18 International affairs 7,250 11,902 6,522
19 General science, space, and
technology 9,601 10,389 10,073
20 Energy -893 130 (r) -244
21 Natural resources and
environment 10,814 12,907 11,059
22 Agriculture 11,164 20,977 10,832
23 Commerce and housing credit -2,497 4,408 -1,539
24 Transportation 21,054 25,841 23,810
25 Community and regional
development 5,050 5,962 5,265
26 Education, training,
employment, and social
services 31,234 29,263 35,698
27 Health 75,871 81,413 87,427
28 Social security and Medicare 306,966 307,473 328,072
29 Income security 133,915 113,212 146,913
30 Veterans benefits and
services 23,174 22,615 23,171
31 Administration of justice 13,981 14,635 14,694
32 General government 6,198 6,461 8,887
33 Net interest (5) 115,545 104,685 107,824
34 Undistributed offsetting
receipts (6) -19,346 -24,070 -22,865
Calendar year
Source or type 2001
Sept. Oct. Nov.
RECEIPTS
1 All sources 158,496 157,163 121,233
2 Individual income taxes, net 81,277 77,772 56,534
3 Withheld 49,679 69,963 59,818
4 Nonwithheld 45,676 9,858 2,729
5 Refunds 14,078 2,049 6,013
Corporation income taxes
6 Gross receipts 9,533 30,134 3,411
7 Refunds 2,057 10,388 3,450
8 Social insurance taxes and
contributions, net 56,147 48,794 53,263
9 Employment taxes and
contributions (2) 55,433 46,887 50,494
10 Unemployment insurance 349 1,529 2,356
11 Other net receipts (3) 365 378 413
12 Excise taxes 6,443 3,657 4,842
13 Customs deposits 1,563 1,920 1,571
14 Estate and gift taxes 1,761 2,488 2,204
15 Miscellaneous receipts (4) 3,828 2,786 2,857
OUTLAYS
16 All types 123,250 166,548 175,500
17 National defense 23,987 26,373 30,983
18 International affairs 1,350 2,519 2,606
19 General science, space, and
technology 1,668 2,025 1,781
20 Energy 697 -355 145
21 Natural resources and
environment 2,521 2,248 2,518
22 Agriculture -1,149 5,288 4,576
23 Commerce and housing credit 15,844 1,194 218
24 Transportation 7,358 5,423 5,885
25 Community and regional
development 1,347 1,509 1,110
26 Education, training,
employment, and social
services 4,927 6,113 5,370
27 Health 14,088 17,549 15,216
28 Social security and Medicare 26,044 53,444 58,302
29 Income security 15,738 21,664 24,281
30 Veterans benefits and
services 2,123 4,294 5,941
31 Administration of justice 2,428 3,230 2,834
32 General government 1,733 1,581 1,365
33 Net interest (5) 9,113 16,157 15,928
34 Undistributed offsetting
receipts (6) -6,711 -3,727 -3,560
(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 2000
Item
Sept. Sept.
30 Dec. 31 Mar. 31 June 30 30
1 Federal debt
outstanding 5,685.2 5,805.0 5,801.5 5,714.2 5,701.9
2 Public debt
securities 5,656.3 5,776.1 5,773.4 5,685.9 5,674.2
3 Held by public 3,667.2 3,715.5 3,688.0 3,495.7 3,438.5
4 Held by
agencies 1,989.1 2,060.6 2,085.4 2,190.2 2,235.7
5 Agency securities 28.9 28.9 28.1 28.3 27.7
6 Held by public 28.3 28.3 27.8 28.2 27.6
7 Held by
agencies .6 .6 .4 .1 .1
8 Debt subject to
statutory limit 5,567.7 5,686.9 5,686.5 5,600.6 5,591.6
9 Public debt
securities 5,567.6 5,686.7 5,686.3 5,600.5 5,591.4
10 Other debt (1) .1 .1 .2 .2 .2
MEMO
11 Statutory debt
limit 5,950.0 5,950.0 5,950.0 5,950.0 5,950.0
2000 2001
Item
Sept.
Dec. 31 Mar. 31 June 30 30
1 Federal debt
outstanding 5,689.6 5,800.6 5,753.9 5,834.5
2 Public debt
securities 5,662.2 5,773.7 5,726.8 5,807.5
3 Held by public 3,413.5 3,434.4 3,274.2 3,338.7
4 Held by
agencies 2,248.7 2,339.4 2,452.6 2,468.8
5 Agency securities 27.4 26.8 27.1 27.0
6 Held by public 27.3 26.8 27.1 27.0
7 Held by
agencies .1 .1 .0 .0
8 Debt subject to
statutory limit 5,580.5 5,692.5 5,645.0 5,732.6
9 Public debt
securities 5,580.2 5,692.3 5,644.8 5,807.5
10 Other debt (1) .2 .2 .2 .2
MEMO
11 Statutory debt
limit 5,950.0 5,950.0 5,950.0 5,950.0
(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 321.6 (r) 343.3 (r) 335.4 (r)
21 Insurance companies 176.6 141.7 (r) 123.4 (r)
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 360.5 356.9 (r) 349.7 (r)
25 Private 143.5 139.1 (r) 138.5 (r)
26 State and Local 216.9 217.7 211.2
27 Foreign and
international (8) 1,241.6 1,278.7 1,268.7
28 Other miscellaneous
investors (7),(9) 589.5 517.5 (r) 444.1 (r)
2000
Type and holder 2000
Q4
1 Total gross public debt 5,662.2 5,662.2
By type
2 Interest-bearing 5,618.1 5,618.1
3 Marketable 2,966.9 2,966.9
4 Bills 646.9 646.9
5 Notes 1,557.3 1,557.3
6 Bonds 626.5 626.5
7 Inflation-indexed
notes and bonds (1) 121.2 121.2
8 Nonmarketable (2) 2,651.2 2,651.2
9 State and local
government series 151.0 151.0
10 Foreign issues (3) 27.2 27.2
11 Government 27.2 27.2
12 Public .0 .0
13 Savings bonds and
notes 176.9 176.9
14 Government account
series (4) 2,266.1 2,266.1
15 Non-interest-bearing 44.2 44.2
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,249.0 (r) 2,249.0 (r)
17 Federal Reserve Banks (6) 511.7 511.7
18 Private investors 2,880.4 2,880.4
19 Depository institutions 199.2 (r) 199.2 (r)
20 Mutual funds 312.6 (r) 312.6 (r)
21 Insurance companies 110.2 (r) 110.2 (r)
22 State and local
treasuries (7) 236.2 (r) 236.2 (r)
Individuals
23 Savings bonds 184.8 184.8
24 Pension funds 333.4 (r) 333.4 (r)
25 Private 137.7 (r) 137.7 (r)
26 State and Local 195.7 (r) 195.7 (r)
27 Foreign and
international (8) 1,201.3 (r) 1,201.3 (r)
28 Other miscellaneous
investors (7),(9) 276.9 (r) 276.9 (r)
2001
Type and holder
Q1 Q2 Q3
1 Total gross public debt 5,773.7 5,726.8 5,807.5
By type
2 Interest-bearing 5,752.0 5,682.8 5,763.6
3 Marketable 2,981.9 2,822.3 2,897.3
4 Bills 712.0 620.1 734.9
5 Notes 1,499.0 1,441.0 1,399.6
6 Bonds 627.9 616.9 612.9
7 Inflation-indexed
notes and bonds (1) 128.0 129.3 134.9
8 Nonmarketable (2) 2,770.0 2,860.5 2,866.4
9 State and local
government series 152.9 153.3 146.4
10 Foreign issues (3) 24.7 24.0 18.3
11 Government 24.7 24.0 18.3
12 Public .0 .0 .0
13 Savings bonds and
notes 177.4 178.4 179.6
14 Government account
series (4) 2,360.3 2,474.7 2,492.1
15 Non-interest-bearing 46.5 44.0 43.8
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,357.0 2,469.1 2,493.7
17 Federal Reserve Banks (6) 523.9 535.1 534.1
18 Private investors 2,892.9 2,722.6 2,779.7
19 Depository institutions 187.9 (r) 190.1 (r) 189.0
20 Mutual funds 322.8 (r) 333.2 (r) 362.7
21 Insurance companies 101.9 94.8 (r) 88.5
22 State and local
treasuries (7) 224.0 216.5 188.9
Individuals
23 Savings bonds 184.8 185.5 (r) 186.4
24 Pension funds 326.5 324.6 (r) 314.7
25 Private 131.2 127.5 (r) 122.7
26 State and Local 195.3 197.1 (r) 192.0
27 Foreign and
international (8) 1,196.1 1,167.1 1,170.0
28 Other miscellaneous
investors (7),(9) 323.6 (r) 195.8 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,
week
2001 ending
Item
Aug. Sept. Oct. Oct. 3
By type of security
1 U.S. Treasury bills 35,361 29,627 28,935 27,408
Treasury coupon securities
by maturity
2 Three years or less 90,953 96,124 106,558 112,694
3 More than three but less
than or equal to six
years 69,717 76,258 83,732 82,377
4 More than six but less
than or equal to
eleven years 65,251 60,808 59,295 65,974
5 More than eleven 16,847 18,764 24,268 27,558
6 Inflation-indexed (2) 1,491 1,653 2,565 1,505
Federal agency and
government-sponsored
enterprises
7 Discount notes 57,141 70,486 61,756 63,505
Coupon securities by
maturity
8 Three years or less 11,514 11,891 11,551 15,321
9 More than three years
but less than or
equal to six years 8,769 8,913 11,860 10,876
10 More than six years
but less than or
equal to eleven
years 6,502 10,595 8,487 9,629
11 More than eleven years 1,332 1,010 1,451 1,353
12 Mortgage-backed 106,708 129,615 130,025 130,802
Corporate securities
13 One year or less 79,388 95,488 79,349 82,169
14 More than one year 17,259 14,825 20,690 16,829
By type of counterparty
With interdealer broker
15 U.S. Treasury 133,598 125,189 139,549 136,037
16 Federal agency and go-
vernment-sponsored
enterprises 11,532 11,668 11,878 11,222
17 Mortgage-backed 32,160 33,296 36,435 35,009
18 Corporate 813 793 666 563
With other
19 U.S. Treasury 146,023 158,044 165,804 181,478
20 Federal agency and go-
vernment-sponsored
enterprises 73,725 91,226 83,227 89,462
21 Mortgage-backed 74,548 96,318 93,590 95,793
22 Corporate 95,833 109,520 99,373 98,435
2001, week ending
Item
Oct. 10 Oct. 17 Oct. 24 Oct. 31
By type of security
1 U.S. Treasury bills 26,555 24,338 32,937 32,351
Treasury coupon securities
by maturity
2 Three years or less 85,341 103,453 119,295 110,220
3 More than three but less
than or equal to six
years 85,233 84,124 78,869 87,813
4 More than six but less
than or equal to
eleven years 63,938 52,884 50,928 66,353
5 More than eleven 19,610 16,814 22,759 34,983
6 Inflation-indexed (2) 4,143 2,141 2,760 2,168
Federal agency and
government-sponsored
enterprises
7 Discount notes 60,364 61,487 60,286 63,560
Coupon securities by
maturity
8 Three years or less 9,685 11,484 10,921 11,480
9 More than three years
but less than or
equal to six years 9,624 12,414 16,332 9,211
10 More than six years
but less than or
equal to eleven
years 7,447 8,780 7,344 9,484
11 More than eleven years 1,604 856 1,443 1,989
12 Mortgage-backed 182,422 158,842 96,765 92,084
Corporate securities
13 One year or less 92,566 81,955 76,528 67,299
14 More than one year 20,319 18,470 23,482 22,731
By type of counterparty
With interdealer broker
15 U.S. Treasury 130,368 133,046 144,839 150,216
16 Federal agency and go-
vernment-sponsored
enterprises 10,412 11,344 13,737 12,120
17 Mortgage-backed 47,825 45,799 29,636 25,614
18 Corporate 1,042 612 590 558
With other
19 U.S. Treasury 154,452 150,708 162,709 183,672
20 Federal agency and go-
vernment-sponsored
enterprises 78,313 83,677 82,589 83,603
21 Mortgage-backed 134,598 113,044 67,129 66,470
22 Corporate 111,842 99,814 99,420 89,471
2001, week ending
Item
Nov. 7 Nov. 14 Nov. 21 Nov. 28
By type of security
1 U.S. Treasury bills 46,129 38,720 41,919 41,112
Treasury coupon securities
by maturity
2 Three years or less 135,164 121,476 133,713 142,859
3 More than three but less
than or equal to six
years 141,908 109,895 107,670 83,813
4 More than six but less
than or equal to
eleven years 89,839 70,506 90,672 66,402
5 More than eleven 40,584 27,110 28,648 23,938
6 Inflation-indexed (2) 3,405 1,994 1,969 1,952
Federal agency and
government-sponsored
enterprises
7 Discount notes 62,391 61,257 60,314 57,674
Coupon securities by
maturity
8 Three years or less 11,691 13,475 16,350 11,290
9 More than three years
but less than or
equal to six years 8,492 13,461 10,164 5,747
10 More than six years
but less than or
equal to eleven
years 12,092 10,308 13,725 7,828
11 More than eleven years 2,274 2,854 1,093 1,143
12 Mortgage-backed 166,493 181,741 140,520 91,673
Corporate securities
13 One year or less 76,073 84,847 83,253 63,122
14 More than one year 21,754 24,765 25,170 17,712
By type of counterparty
With interdealer broker
15 U.S. Treasury 204,851 170,365 179,261 166,102
16 Federal agency and go-
vernment-sponsored
enterprises 12,741 14,406 14,167 11,317
17 Mortgage-backed 38,520 47,633 32,056 27,251
18 Corporate 625 672 613 462
With other
19 U.S. Treasury 252,179 199,336 225,330 193,975
20 Federal agency and go-
vernment-sponsored
enterprises 84,198 86,949 87,479 72,366
21 Mortgage-backed 127,973 134,108 108,464 64,422
22 Corporate 97,202 108,940 107,810 80,373
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as all U.S. government securities traded on a
when-issued basis between the announcement and issue date. Data do not
include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the
week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
NOTE. Major changes in the report form filed by primary dealers induced
a break in the dealer data series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http:www.newyorkfed.org/pihome/statistics)
under the Primary Dealer heading.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2001,
week
2001 ending
Item
Aug. Sept. Oct. Oct. 3
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 22,281 29,542 21,414 23,605
Treasury coupon
securities by
maturity
2 Three years or
less -17,171 -13,889 -21,698 -15,222
3 More than three
years but less
than or equal to
six years -11,233 -10,010 -19,650 -13,247
4 More than six but
less than or
equal to eleven
years -14,383 -13,631 -8,478 -13,756
5 More than eleven 8,486 10,701 10,868 11,769
6 Inflation-indexed 3,202 3,918 4,541 3,867
Federal agency and
government-spon-
sored enterprises
7 Discount notes 56,726 58,480 50,870 51,113
Coupon securities,
by maturity
8 Three years or
less 18,353 14,089 14,742 15,247
9 More than three
years but less
than or equal
to six years -1,895 -1,937 1,395 -933
10 More than six
years but less
less than or
equal to
eleven years 3,486 2,516 1,889 2,676
11 More than eleven 3,686 3,231 3,733 3,643
12 Mortgage-backed 12,198 7,506 12,233 7,914
Corporate securities
13 One year or less 15,756 18,108 18,969 21,033
14 More than one year 29,747 29,098 31,904 27,089
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 555,619 536,941 565,640 564,986
16 Term 688,830 660,031 660,095 587,017
Federal agency and
government-spon-
sored enterprises
17 Overnight and
continuing 116,534 112,778 120,632 123,630
18 Term 177,889 171,037 176,742 165,236
Mortgage-backed
securities
19 Overnight and
continuing 24,844 24,748 26,548 27,948
20 Term 220,176 208,146 216,423 203,982
Corporate securities
21 Overnight and
continuing 33,956 34,799 37,072 38,602
22 Term 13,216 12,781 14,101 14,247
MEMO: Reverse repur-
chase agreements
23 Overnight and
continuing 366,386 338,279 362,499 360,601
24 Term 976,454 929,665 936,892 848,766
Securities out
U.S. Treasury
25 Overnight and
continuing 565,431 556,068 580,816 593,206
26 Term 620,092 596,767 589,529 527,418
Federal agency and
government-spon-
sored enterprises
27 Overnight and
continuing 213,057 200,899 218,541 218,018
28 Term 144,850 131,482 130,511 119,215
Mortgage-backed
securities
29 Overnight and
continuing 277,441 258,259 271,700 265,276
30 Term 110,410 112,292 134,317 110,038
Corporate securities
31 Overnight and
continuing 82,922 80,776 92,074 91,730
32 Term 11,698 8,333 10,158 9,009
MEMO: Repurchase
agreements
33 Overnight and
continuing 1,006,856 965,270 1,019,698 1,016,816
34 Term 865,731 832,229 846,123 747,151
2001, week ending
Item
Oct. 10 Oct. 17 Oct. 24 Oct. 31
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 22,438 22,590 18,336 21,354
Treasury coupon
securities by
maturity
2 Three years or
less -17,728 -20,821 -21,452 -29,568
3 More than three
years but less
than or equal to
six years -19,193 -18,954 -21,775 -21,421
4 More than six but
less than or
equal to eleven
years -7,642 -8,694 -6,976 -8,339
5 More than eleven 11,197 9,745 9,651 12,495
6 Inflation-indexed 5,290 4,437 4,333 4,392
Federal agency and
government-spon-
sored enterprises
7 Discount notes 58,372 57,327 44,499 43,180
Coupon securities,
by maturity
8 Three years or
less 15,847 16,680 14,959 11,265
9 More than three
years but less
than or equal
to six years 2,786 695 1,728 1,370
10 More than six
years but less
less than or
equal to
eleven years 1,826 2,511 2,525 357
11 More than eleven 3,426 3,556 4,000 3,988
12 Mortgage-backed 9,534 8,753 18,528 13,967
Corporate securities
13 One year or less 19,301 19,157 17,640 18,895
14 More than one year 32,273 30,689 33,218 33,500
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 572,274 558,485 559,013 573,068
16 Term 611,781 665,616 687,012 707,291
Federal agency and
government-spon-
sored enterprises
17 Overnight and
continuing 117,524 121,157 121,265 121,299
18 Term 168,441 172,761 182,881 187,817
Mortgage-backed
securities
19 Overnight and
continuing 27,742 30,203 22,371 25,276
20 Term 202,805 211,124 226,802 230,291
Corporate securities
21 Overnight and
continuing 36,535 36,767 36,433 37,898
22 Term 14,199 14,557 13,777 13,808
MEMO: Reverse repur-
chase agreements
23 Overnight and
continuing 357,363 348,798 354,913 389,737
24 Term 871,048 937,926 981,485 994,875
Securities out
U.S. Treasury
25 Overnight and
continuing 592,422 578,417 561,541 585,572
26 Term 540,399 583,625 624,158 636,553
Federal agency and
government-spon-
sored enterprises
27 Overnight and
continuing 217,125 225,136 224,837 207,288
28 Term 121,235 127,938 134,711 143,002
Mortgage-backed
securities
29 Overnight and
continuing 251,548 284,640 297,432 255,932
30 Term 121,481 138,676 147,547 139,969
Corporate securities
31 Overnight and
continuing 91,857 91,312 93,083 92,193
32 Term 9,458 9,595 9,826 12,244
MEMO: Repurchase
agreements
33 Overnight and
continuing 1,003,565 1,033,208 1,037,783 1,005,472
34 Term 773,130 843,261 897,956 912,562
2001, week ending
Item
Nov. 7 Nov. 14 Nov. 21
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 5,491 10,700 20,314
Treasury coupon
securities by
maturity
2 Three years or
less -27,897 -26,296 -31,734
3 More than three
years but less
than or equal to
six years -24,026 -22,704 -23,811
4 More than six but
less than or
equal to eleven
years -8,587 -7,486 -11,358
5 More than eleven 13,586 13,700 11,113
6 Inflation-indexed 5,117 4,365 4,152
Federal agency and
government-spon-
sored enterprises
7 Discount notes 45,104 55,967 50,853
Coupon securities,
by maturity
8 Three years or
less 9,833 12,226 11,510
9 More than three
years but less
than or equal
to six years 1,023 1,582 897
10 More than six
years but less
less than or
equal to
eleven years 739 1,045 3,361
11 More than eleven 4,232 4,718 4,655
12 Mortgage-backed 28,015 25,172 19,937
Corporate securities
13 One year or less 22,512 24,956 21,561
14 More than one year 36,262 34,767 33,033
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 584,875 581,145 507,774
16 Term 728,636 743,640 750,444
Federal agency and
government-spon-
sored enterprises
17 Overnight and
continuing 145,788 133,597 119,425
18 Term 205,840 197,372 232,333
Mortgage-backed
securities
19 Overnight and
continuing 32,415 28,176 23,420
20 Term 222,660 225,519 229,877
Corporate securities
21 Overnight and
continuing 38,817 38,851 38,980
22 Term 14,528 133,984 16,727
MEMO: Reverse repur-
chase agreements
23 Overnight and
continuing 406,008 382,523 297,926
24 Term 1,051,851 1,057,706 1,099,430
Securities out
U.S. Treasury
25 Overnight and
continuing 561,390 578,587 487,138
26 Term 666,574 671,469 688,687
Federal agency and
government-spon-
sored enterprises
27 Overnight and
continuing 231,218 223,140 205,545
28 Term 159,821 152,423 198,903
Mortgage-backed
securities
29 Overnight and
continuing 261,857 305,406 245,344
30 Term 132,790 134,053 193,704
Corporate securities
31 Overnight and
continuing 95,076 103,381 95,421
32 Term 9,508 8,320 14,041
MEMO: Repurchase
agreements
33 Overnight and
continuing 1,008,405 1,059,874 888,904
34 Term 948,335 946,450 1,075,887
(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.) Net outright positions include all U.S. government, federal
agency, government-sponsored enterprise, mortgage-backed, and corporate
securities scheduled for immediate and forward delivery, as well as
U.S. government securities traded on a when-issued basis between the
announcement and issue date.
(3.) Figures cover financing U.S. government, federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received,
except for pledged securities. TIIS that are issued as pledged
securities are reported at par value, which is the value of the
security at original issuance (unadjusted for inflation).
NOTE. Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http://www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
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 (9) 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 Assis-
tance 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
2001
Agency 2000
May June
1 Federal and federally sponsored
agencies 1,851,632 1,967,515 1,986,146
2 Federal agencies 25,666 25,070 25,495
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2),(3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 255 201 204
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 25,064 25,489
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,825,966 1,942,445 1,960,651
11 Federal Home Loan Banks 594,404 592,406 595,148
12 Federal Home Loan Mortgage
Corporation 426,899 490,442 496,711
13 Federal National Mortgage
Association 642,700 693,600 702,300
14 Farm Credit Banks (9) 74,181 75,363 76,330
15 Student Loan Marketing
Association (9) 45,375 48,255 47,687
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial Assis-
tance 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 42,837 38,235
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 5,540 5,155
26 Rural Electrification
Administration 13,126 12,989 13,381
27 Other 22,174 24,308 19,699
2001
Agency
July Aug. Sept.
1 Federal and federally sponsored
agencies 2,009,746 2,028,562 2,071,164
2 Federal agencies 25,325 26,623 27,017
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2),(3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 210 224 231
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 25,319 26,617 27,011
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,984,421 2,001,939 2,044,147
11 Federal Home Loan Banks 601,490 599,070 614,325
12 Federal Home Loan Mortgage
Corporation 508,944 515,671 534,434
13 Federal National Mortgage
Association 706,800 718,000 727,000
14 Farm Credit Banks (9) 76,307 76,264 76,385
15 Student Loan Marketing
Association (9) 48,427 50,356 49,404
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial Assis-
tance 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) 37,510 37,789 42,825
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 4,375
26 Rural Electrification
Administration 13,483 13,602 13,599
27 Other 18,872 19,032 30,851
(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 Agriculture 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.
Securities Markets and Corporate Finance
1.45 NEW SECURITY ISSUES Tax-Exempt State and Local Governments
Millions of dollars
Type of issue or issuer,
or use 1998 1999 2000
1 All issues, new and
refunding (1) 262,342 215,427 180,403
By type of issue
2 General obligation 87,015 73,308 64,475
3 Revenue 175,327 142,120 115,928
By type of issuer
4 State 23,506 16,376 19,944
5 Special district or
statutory authority (2) 178,421 152,418 111,695
6 Municipality, county, or
township 60,173 46,634 39,273
7 Issues for new capital 160,568 161,065 154,257
By use of proceeds
8 Education 36,904 36,563 38,665
9 Transportation 19,926 17,394 19,730
10 Utilities and conservation 21,037 15,098 11,917
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 8,594 9,099 7,122
13 Other purposes 42,450 47,896 47,309
2001
Type of issue or issuer,
or use
Apr. May June July
1 All issues, new and
refunding (1) 16,985 26,248 29,298 19,232
By type of issue
2 General obligation 6,890 8,385 9,691 5,836
3 Revenue 10,094 17,863 19,606 13,396
By type of issuer
4 State 1,900 3,123 2,905 2,029
5 Special district or
statutory authority (2) 113,344 17,281 20,672 11,784
6 Municipality, county, or
township 3,740 5,845 5,721 5,419
7 Issues for new capital 12,264 20,002 20,044 15,015
By use of proceeds
8 Education 3,731 5,714 6,460 3,379
9 Transportation 1,381 2,522 1,258 3,160
10 Utilities and conservation 1,447 2,969 3,191 1,055
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 436 422 443 508
13 Other purposes 3,010 4,736 5,047 3,803
2001
Type of issue or issuer,
or use
Aug. Sept. Oct. Nov.
1 All issues, new and
refunding (1) 21,152 13,159 30,446 30,105
By type of issue
2 General obligation 8,796 3,926 14,302 10,163
3 Revenue 12,356 9,233 16,144 19,942
By type of issuer
4 State 2,713 1,504 6,008 2,271
5 Special district or
statutory authority (2) 12,351 9,137 17,382 21,601
6 Municipality, county, or
township 6,088 2,518 7,056 6,233
7 Issues for new capital 13,550 10,110 21,249 21,009
By use of proceeds
8 Education 2,950 3,017 4,279 4,475
9 Transportation 1,669 1,195 1,587 2,882
10 Utilities and conservation 1,228 1,025 2,324 2,429
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 708 663 688 359
13 Other purposes 4,524 1,732 9,158 5,281
(1.) Par amounts of long-term issues based on date of sale.
(2.) Includes school districts.
SOURCE. Securities Data Company beginning January 1990;
Investment Dealer's Digest before then.
1.46 NEW SECURITY ISSUES U.S. Corporations
Millions of dollars
Type of issue,
offering, or issuer 1998 1999 2000
1 All issues (1) 1,128,491 1,072,866 942,198
2 Bonds (2) 1,001,736 941,298 807,281
By type of offering
3 Sold in the United
States 923,771 818,683 684,484
4 Sold abroad 77,965 122,615 122,798
MEMO
5 Private placements,
domestic n.a. n.a. n.a.
By industry group
6 Nonfinancial 307,711 293,963 242,452
7 Financial 694,025 647,335 564,829
8 Stocks (3) 182,055 223,968 283,717
By type of offering
9 Public 126,755 131,568 134,917
10 Private placement (4) 55,300 92,400 148,800
By industry group
11 Nonfinancial 74,113 110,284 118,369
12 Financial 52,642 21,284 16,548
2001
Type of issue,
offering, or issuer
Mar. Apr. May June
1 All issues (1) 139,267 92,778 164,563 122,773
2 Bonds (2) 127,956 86,274 154,623 102,476
By type of offering
3 Sold in the United
States 118,779 81,156 146,164 96,382
4 Sold abroad 9,177 5,117 8,459 6,094
MEMO
5 Private placements,
domestic 652 0 2,563 3,146
By industry group
6 Nonfinancial 44,385 33,549 67,142 34,996
7 Financial 83,571 52,725 87,481 67,480
8 Stocks (3) 11,311 6,504 9,940 20,297
By type of offering
9 Public 11,311 6,504 9,940 20,297
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 7,718 4,822 6,809 16,630
12 Financial 3,593 1,682 3,131 3,667
2001
Type of issue,
offering, or issuer
July Aug. Sept. Oct.
1 All issues (1) 93,451 97,944 89,855 139,181
2 Bonds (2) 84,872 89,990 84,509 123,346
By type of offering
3 Sold in the United
States 79,508 86,759 80,223 120,162
4 Sold abroad 5,364 3,231 4,286 3,185
MEMO
5 Private placements,
domestic 12 48 0 224
By industry group
6 Nonfinancial 18,904 28,546 31,920 43,830
7 Financial 65,968 61,443 52,589 79,517
8 Stocks (3) 8,579 7,954 5,346 15,835
By type of offering
9 Public 8,579 7,954 5,346 15,835
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,237 5,487 81 7,611
12 Financial 4,342 2,467 5,265 8,224
(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
2001
Item 1999 2000
Apr.
1 Sales of own shares (2) 1,791,894 2,279,315 152,327
2 Redemptions of own shares 1,621,987 2,057,277 130,454
3 Net sales (3) 169,906 222,038 21,873
4 Assets (4) 5,233,191 5,123,747 4,910,568
5 Cash (5) 219,189 277,386 247,169
6 Other 5,014,002 4,846,361 4,663,399
2001
Item
May June July
1 Sales of own shares (2) 158,361 139,270 138,428
2 Redemptions of own shares 132,574 125,097 129,021
3 Net sales (3) 25,787 14,173 9,407
4 Assets (4) 4,956,982 4,888,874 4,825,144
5 Cash (5) 237,487 240,199 240,392
6 Other 4,719,495 4,648,675 4,584,752
2001
Item
Aug. Sept.
1 Sales of own shares (2) 142,577 105,038
2 Redemptions of own shares 131,408 127,995
3 Net sales (3) 11,169 -22,957
4 Assets (4) 4,635,477 4,253,850
5 Cash (5) 240,329 223,077
6 Other 4,395,148 4,030,773
2001
Item
Oct. (r) Nov.
1 Sales of own shares (2) 153,827 146,636
2 Redemptions of own shares 137,837 124,141
3 Net sales (3) 15,990 22,495
4 Assets (4) 4,376,923 4,625,117
5 Cash (5) 229,576 240,142
6 Other 4,147,347 4,384,975
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvestment of net income dividends and capital gains
distributions and share issue of conversions from one fund to another
in the same group.
(3.) Excludes sales and redemptions resulting from transfers of shares
into or out of money market mutual funds within the same fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term debt
securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission.
Data reflect underwritings of newly formed companies after their
initial offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at seasonally adjusted annual rates
1999 2000
Account 1998 1999 2000
Q4 Q1
1 Profits with inventory
valuation and capital
consumption adjustment 777.4 825.2 876.4 857.6 870.3
2 Profits before taxes 721.1 776.3 845.4 825.0 844.9
3 Profits-tax liability 238.8 253.0 271.5 267.3 277.0
4 Profits after tax 482.3 523.3 573.9 557.7 567.8
5 Dividends 348.7 343.5 379.6 349.6 361.5
6 Undistributed profits 133.6 179.8 194.3 208.1 206.3
7 Inventory valuation 18.3 -2.9 -12.4 -21.0 -23.8
8 Capital consumption
adjustment 38.0 51.7 43.4 53.6 49.2
2000
Account
Q2 Q3 Q4
1 Profits with inventory
valuation and capital
consumption adjustment 892.8 895.0 847.6
2 Profits before taxes 862.0 858.3 816.5
3 Profits-tax liability 280.4 274.9 253.5
4 Profits after tax 581.6 583.4 563.0
5 Dividends 373.7 386.2 397.0
6 Undistributed profits 207.9 197.2 165.9
7 Inventory valuation -14.8 -3.6 -7.3
8 Capital consumption
adjustment 45.5 40.4 38.4
2001
Account
Q1 Q2 Q3
1 Profits with inventory
valuation and capital
consumption adjustment 789.8 759.8 697.0
2 Profits before taxes 755.7 738.3 680.6
3 Profits-tax liability 236.8 228.0 204.9
4 Profits after tax 518.9 510.3 475.6
5 Dividends 405.2 412.3 420.4
6 Undistributed profits 113.7 98.0 55.2
7 Inventory valuation -1.9 -8.8 3.1
8 Capital consumption
adjustment 36.0 30.3 13.4 (r)
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
Account 1998 1999 2000
ASSETS
1 Accounts receivable,
gross (2) 742.1 845.4 958.6
2 Consumer 280.0 304.4 327.9
3 Business 340.9 395.1 458.4
4 Real estate 121.2 145.8 172.3
5 LESS: Reserves for
unearned income 62.7 61.4 69.7
6 Reserves for
losses 14.7 14.7 16.7
7 Accounts receivable, net 664.7 769.3 872.2
8 All other 335.8 406.6 461.5
9 Total assets 1,000.5 1,175.9 1,333.7
LIABILITIES AND CAPITAL
10 Bank loans 26.5 35.4 35.9
11 Commercial paper 233.3 230.4 238.8
Debt
12 Owed to parent 34.3 87.8 102.5
13 Not elsewhere classified 365.6 429.9 502.2
14 All other liabilities 216.0 237.8 301.8
15 Capital, surplus, and
undivided profits 124.7 154.5 152.5
16 Total liabilities and
capital 1,000.5 1,175.9 1,333.7
2000
Account
Q1 Q2 Q3 Q4
ASSETS
1 Accounts receivable,
gross (2) 883.2 921.5 939.9 958.6
2 Consumer 311.4 321.8 331.5 327.9
3 Business 422.7 441.9 443.0 458.4
4 Real estate 149.1 157.7 165.4 172.3
5 LESS: Reserves for
unearned income 62.4 66.1 68.3 69.7
6 Reserves for
losses 15.2 15.7 15.6 16.7
7 Accounts receivable, net 805.6 839.6 856.1 872.2
8 All other 413.8 419.4 442.3 461.5
9 Total assets 1,219.4 1,259.0 1,298.4 1,333.7
LIABILITIES AND CAPITAL
10 Bank loans 28.8 32.8 35.7 35.9
11 Commercial paper 233.0 224.3 218.8 238.8
Debt
12 Owed to parent 107.2 95.1 100.0 102.5
13 Not elsewhere classified 446.6 483.7 507.3 502.2
14 All other liabilities 264.4 277.5 288.1 301.8
15 Capital, surplus, and
undivided profits 139.4 145.7 148.5 152.5
16 Total liabilities and
capital 1,219.4 1,259.0 1,298.4 1,333.7
2001
Account
Q1 Q2 Q3
ASSETS
1 Accounts receivable,
gross (2) 954.4 988.7 967.7
2 Consumer 319.2 324.5 329.2
3 Business 459.1 481.9 451.1
4 Real estate 176.1 182.3 187.4
5 LESS: Reserves for
unearned income 69.9 61.5 60.8
6 Reserves for
losses 17.2 17.4 18.0
7 Accounts receivable, net 867.3 909.7 888.9
8 All other 474.8 459.0 478.2
9 Total assets 1,342.1 1,368.7 1,367.1
LIABILITIES AND CAPITAL
10 Bank loans 41.6 45.3 44.5
11 Commercial paper 180.9 181.6 171.0
Debt
12 Owed to parent 97.2 93.4 90.8
13 Not elsewhere classified 533.8 542.1 555.9
14 All other liabilities 325.1 336.3 327.7
15 Capital, surplus, and
undivided profits 163.5 170.0 177.3
16 Total liabilities and
capital 1,342.1 1,368.7 1,367.1
(1.) Includes finance company subsidies 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.
Securities Markets and Corporate Finance
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amounts outstanding
Type of credit 1998 1999 2000
Seasonally adjusted
1 Total 904.4 1,027.0 1,181.3
2 Consumer 369.1 409.0 464.0
3 Real estate 150.3 174.0 198.9
4 Business 385.0 444.0 518.4
Not seasonally adjusted
5 Total 912.7 1,036.4 1,192.1
6 Consumer 372.5 412.7 468.3
7 Motor vehicle loans 113.5 129.2 141.6
8 Motor vehicle leases 96.6 102.9 108.2
9 Revolving (2) 31.9 32.5 37.6
10 Other (3) 37.9 39.8 40.7
Securitized assets (4)
11 Motor vehicle loans 54.8 73.1 97.1
12 Motor vehicle leases 12.7 9.7 6.6
13 Revolving 5.5 6.7 19.6
14 Other 19.6 18.8 17.1
15 Real estate 150.3 174.0 198.9
16 One- to four-family 90.0 108.2 130.6
17 Other 31.2 37.6 41.7
Securitized real
estate assets (4)
18 One- to four-family 29.0 28.0 24.7
19 Other .1 .2 1.9
20 Business 389.9 449.6 525.0
21 Motor vehicles 64.8 69.4 75.5
22 Retail loans 19.5 21.1 18.3
23 Wholesale loans (5) 32.8 34.8 39.7
24 Leases 12.5 13.6 17.6
25 Equipment 212.2 238.7 283.5
26 Loans 59.2 64.5 70.2
27 Leases 153.0 174.2 213.3
28 Other business
receivables (6) 63.9 87.0 99.4
Securitized assets (4)
29 Motor vehicles 29.2 31.5 37.8
30 Retail loans 2.6 2.9 3.2
31 Wholesale loans 24.7 26.4 32.5
32 Leases 1.9 2.1 2.2
33 Equipment 13.0 14.6 23.1
34 Loans 6.6 7.9 15.5
35 Leases 6.4 6.7 7.6
36 Other business
receivables (6) 6.8 8.4 5.6
2001
Type of credit
May June July
Seasonally adjusted
1 Total 1,221.7 1,235.7 1,242.4
2 Consumer 485.9 490.4 491.6
3 Real estate 210.0 208.5 212.7
4 Business 525.7 536.8 538.1
Not seasonally adjusted
5 Total 1,224.6 1,241.8 1,237.2
6 Consumer 483.3 491.3 493.6
7 Motor vehicle loans 148.0 144.6 146.1
8 Motor vehicle leases 106.8 110.2 110.0
9 Revolving (2) 37.0 36.8 36.9
10 Other (3) 32.7 32.8 33.2
Securitized assets (4)
11 Motor vehicle loans 107.7 114.6 115.8
12 Motor vehicle leases 6.9 7.6 7.4
13 Revolving 28.4 29.1 29.1
14 Other 15.7 15.5 15.2
15 Real estate 210.0 208.5 212.7
16 One- to four-family 141.5 140.1 144.7
17 Other 42.4 42.2 42.0
Securitized real
estate assets (4)
18 One- to four-family 23.6 23.4 23.2
19 Other 2.6 2.8 2.8
20 Business 531.3 542.0 531.0
21 Motor vehicles 70.8 83.9 79.7
22 Retail loans 17.4 16.6 16.6
23 Wholesale loans (5) 35.3 49.3 45.0
24 Leases 18.1 18.1 18.0
25 Equipment 291.4 292.6 288.0
26 Loans 73.1 76.1 74.0
27 Leases 218.3 216.4 214.0
28 Other business
receivables (6) 101.8 105.4 103.7
Securitized assets (4)
29 Motor vehicles 40.0 31.4 30.6
30 Retail loans 3.0 3.1 2.9
31 Wholesale loans 34.3 25.8 25.1
32 Leases 2.7 2.6 2.6
33 Equipment 21.6 22.6 23.0
34 Loans 13.9 15.2 15.2
35 Leases 7.7 7.5 7.8
36 Other business
receivables (6) 5.7 6.0 6.0
2001
Type of credit
Aug. Sept. Oct.
Seasonally adjusted
1 Total 1,244.1 1,244.3 1,236.9
2 Consumer 497.9 496.0 492.8
3 Real estate 214.9 213.1 217.8
4 Business 531.2 535.2 526.3
Not seasonally adjusted
5 Total 1,238.3 1,239.5 1,235.7
6 Consumer 499.5 498.0 495.8
7 Motor vehicle loans 153.6 151.5 159.6
8 Motor vehicle leases 110.3 108.3 107.3
9 Revolving (2) 37.1 35.9 28.0
10 Other (3) 33.7 33.4 31.3
Securitized assets (4)
11 Motor vehicle loans 113.6 117.5 124.4
12 Motor vehicle leases 7.2 7.0 6.9
13 Revolving 28.9 29.3 23.5
14 Other 15.2 15.0 14.8
15 Real estate 214.9 213.1 217.8
16 One- to four-family 146.9 144.8 150.2
17 Other 42.2 42.6 42.1
Securitized real
estate assets (4)
18 One- to four-family 23.0 22.8 22.7
19 Other 2.8 2.9 2.9
20 Business 523.9 528.4 522.0
21 Motor vehicles 56.9 57.8 52.7
22 Retail loans 16.7 16.7 16.8
23 Wholesale loans (5) 22.2 23.6 18.7
24 Leases 18.0 17.5 17.2
25 Equipment 290.0 288.2 290.6
26 Loans 75.2 76.8 79.9
27 Leases 214.8 211.4 210.7
28 Other business
receivables (6) 102.9 105.1 104.8
Securitized assets (4)
29 Motor vehicles 45.2 48.0 45.3
30 Retail loans 2.8 2.6 2.4
31 Wholesale loans 39.8 42.8 40.3
32 Leases 2.6 2.7 2.7
33 Equipment 22.7 23.1 22.5
34 Loans 14.8 15.1 14.5
35 Leases 7.9 8.0 8.0
36 Other business
receivables (6) 6.2 6.1 6.1
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
2001
Item 1998 1999 2000
May
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands
of dollars) 195.2 210.7 234.5 241.4
2 Amount of loan (thousands
of dollars) 151.1 161.7 177.0 181.4
3 Loan-to-price ratio
(percent) 80.0 78.7 77.4 77.6
4 Maturity (years) 28.4 28.8 29.2 28.6
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 7.02
7 Effective rate (1),(3) 7.08 7.06 7.52 7.12
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 6.61
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings
(end of period)
11 Total 414,515 523,941 610,122 n.a.
12 FHA/VA insured 33,770 55,318 61,539 n.a.
13 Conventional 380,745 468,623 548,583 n.a.
14 Mortgage transactions
purchased (during
period) 188,448 195,210 154,231 16,825
Mortgage commitments
(during period)
15 Issued (7) 193,795 187,948 163,689 n.a.
16 To sell (8) 1,880 5,900 11,786 n.a.
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings
(end of period) (8)
17 Total 255,010 324,443 385,693 437,582
18 FHA/VA insured 785 1,836 3,332 2,785
19 Conventional 254,225 322,607 382,361 434,797
Mortgage transactions
(during period)
20 Purchases 267,402 239,793 174,043 n.a.
21 Sales 250,565 233,031 166,901 33,670
22 Mortgage commitments
contracted (during
period) (9) 281,899 228,432 169,231 39,897
2001
Item
June July Aug.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands
of dollars) 250.6 242.9 241.5
2 Amount of loan (thousands
of dollars) 188.7 182.7 181.3
3 Loan-to-price ratio
(percent) 77.3 77.3 76.6
4 Maturity (years) 28.7 28.8 28.7
5 Fees and charges (percent
of loan amount) (2) .66 .66 .61
Yield (percent per year)
6 Contract rate (1) 7.02 7.01 7.06
7 Effective rate (1),(3) 7.12 7.11 7.15
8 Contract rate (HUD
series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages
(section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 6.55 6.49 6.29
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings
(end of period)
11 Total n.a. n.a. n.a.
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions
purchased (during
period) 24,430 26,082 22,111
Mortgage commitments
(during period)
15 Issued (7) n.a. n.a. n.a.
16 To sell (8) n.a. n.a. n.a.
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings
(end of period) (8)
17 Total 443,810 454,485 465,553
18 FHA/VA insured 2,738 2,689 2,643
19 Conventional 441,072 451,796 462,910
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a.
21 Sales 38,133 44,574 33,933
22 Mortgage commitments
contracted (during
period) (9) 37,312 43,788 34,087
2001
Item
Sept. Oct. Nov.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands
of dollars) 246.6 242.9 252.2
2 Amount of loan (thousands
of dollars) 184.3 181.2 189.1
3 Loan-to-price ratio
(percent) 77.1 76.9 77.2
4 Maturity (years) 29.0 28.5 28.6
5 Fees and charges (percent
of loan amount) (2) .61 .67 .63
Yield (percent per year)
6 Contract rate (1) 6.80 6.63 6.54
7 Effective rate (1),(3) 6.89 6.73 6.63
8 Contract rate (HUD
series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages
(section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 6.03 5.86 5.96
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings
(end of period)
11 Total n.a. n.a. n.a.
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions
purchased (during
period) 16,016 20,020 25,389
Mortgage commitments
(during period)
15 Issued (7) n.a. n.a. n.a.
16 To sell (8) n.a. n.a. n.a.
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings
(end of period) (8)
17 Total 470,850 477,588 483,911
18 FHA/VA insured 2,597 2,553 3,562
19 Conventional 468,253 475,035 480,349
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a.
21 Sales 32,666 31,646 38,958
22 Mortgage commitments
contracted (during
period) (9) 31,140 41,346 42,619
(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 commitments and mortgage
transactions include activity under mortgage securities swap
programs, whereas the corresponding data for the Federal National
Mortgage Association exclude swap activity.
Real Estate
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
Type of holder
and property 1997 1998 1999
1 All holders 5,203,854 (r) 5,726,058 (r) 6,363,297 (r)
By type of property
2 One- to four-family
residences 3,975,197 (r) 4,365,761 (r) 4,800,174 (r)
3 Multifamily
residences 301,700 (r) 333,677 (r) 376,466 (r)
4 Nonfarm, non-
residential 836,657 (r) 930,113 (r) 1,083,695 (r)
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, non-
residential 421,865 457,054 517,130
11 Farm 26,987 29,035 31,839
12 Savings insti-
tutions (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, non-
residential 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, non-
residential 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
Adminis-
tration (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, non-
residential 7,370 7,705 41,355
30 Farm 4,852 4,513 4,268
31 Federal Housing
and Veterans'
Adminis-
trations 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 -278 24 -10
35 One- to four-
family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, non-
residential 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, non-
residential 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
Adminis-
tration (4) 2 1 0
64 One- to four-
family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, non-
residential 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, non-
residential 75,434 124,639 158,287
72 Farm 0 0 0
73 Individuals and
others (7) 600,812 (r) 654,617 (r) 697,140 (r)
74 One- to four-
family 389,294 (r) 433,542 (r) 467,503 (r)
75 Multifamily 71,146 (r) 77,421 (r) 80,588 (r)
76 Nonfarm, non-
residential 121,593 (r) 123,679 (r) 127,832 (r)
77 Farm 18,779 19,974 21,217
2000
Type of holder
and property
Q2 Q3 Q4
1 All holders 6,637,220 (r) 6,790,900 (r) 6,938,109 (r)
By type of property
2 One- to four-family
residences 4,993,038 (r) 5,120,042 (r) 5,226,585 (r)
3 Multifamily
residences 395,650 (r) 403,925 (r) 414,386 (r)
4 Nonfarm, non-
residential 1,142,082 (r) 1,158,976 (r) 1,188,302 (r)
5 Farm 106,451 107,957 108,836
By type of holder
6 Major financial
institutions 2,550,401 2,606,592 2,620,886
7 Commercial
banks (2) 1,615,794 1,650,294 1,661,411
8 One- to four-
family 949,223 968,831 966,502
9 Multifamily 75,795 77,031 77,821
10 Nonfarm, non-
residential 557,059 570,513 583,071
11 Farm 33,717 33,919 34,016
12 Savings insti-
tutions (3) 701,992 721,563 723,534
13 One- to four-
family 578,612 595,518 595,053
14 Multifamily 59,174 60,077 61,094
15 Nonfarm, non-
residential 63,688 65,437 66,852
16 Farm 518 531 535
17 Life insurance
companies 232,615 234,735 235,941
18 One- to four-
family 5,242 4,907 4,903
19 Multifamily 33,150 33,478 33,681
20 Nonfarm, non-
residential 180,856 182,646 183,757
21 Farm 13,367 13,704 13,600
22 Federal and related
agencies 332,568 336,575 343,962
23 Government
National
Mortgage
Association 7 6 6
24 One- to four-
family 7 6 6
25 Multifamily 0 0 0
26 Farmers Home
Adminis-
tration (4) 72,896 73,009 73,323
27 One- to four-
family 16,435 16,444 16,372
28 Multifamily 11,729 11,734 11,733
29 Nonfarm, non-
residential 40,554 40,665 41,070
30 Farm 4,179 4,167 4,148
31 Federal Housing
and Veterans'
Adminis-
trations 3,845 3,395 3,507
32 One- to four-
family 1,832 1,327 1,308
33 Multifamily 2,013 2,068 2,199
34 Resolution Trust
Corporation 0 0 0
35 One- to four-
family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, non-
residential 0 0 0
38 Farm 0 0 0
39 Federal Deposit
Insurance
Corporation 72 82 45
40 One- to four-
family 12 13 7
41 Multifamily 14 16 9
42 Nonfarm, non-
residential 46 53 29
43 Farm 0 0 0
44 Federal National
Mortgage
Association 153,507 152,815 155,363
45 One- to four-
family 142,478 141,786 144,150
46 Multifamily 11,029 11,029 11,213
47 Federal Land
Banks 34,830 35,549 36,326
48 One- to four-
family 2,049 2,092 2,137
49 Farm 0 0 0
50 Federal Home Loan
Mortgage
Corporation 56,972 57,046 59,240
51 One- to four-
family 42,892 42,138 42,871
52 Multifamily 14,080 14,908 16,369
53 Mortgage pools or
trusts (5) 3,035,546 3,116,180 3,232,338
54 Government
National
Mortgage
Association 590,708 602,628 611,553
55 One- to four-
family 572,661 584,152 592,624
56 Multifamily 18,047 18,476 18,929
57 Federal Home Loan
Mortgage
Corporation 768,641 790,891 822,310
58 One- to four-
family 763,890 786,007 816,602
59 Multifamily 4,751 4,884 5,708
60 Federal National
Mortgage
Association 995,815 1,020,828 1,057,750
61 One- to four-
family 957,584 981,206 1,016,398
62 Multifamily 38,231 39,622 41,352
63 Farmers Home
Adminis-
tration (4) 0 0 0
64 One- to four-
family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, non-
residential 0 0 0
67 Farm 0 0 0
68 Private mortgage
conduits 680,382 701,833 740,725
69 One- to four-
family (6) 464,593 477,899 499,834
70 Multifamily 44,413 46,142 49,513
71 Nonfarm, non-
residential 171,376 177,792 191,378
72 Farm 0 0 0
73 Individuals and
others (7) 718,705 (r) 731,552 (r) 740,923 (r)
74 One- to four-
family 485,316 (r) 503,266 (r) 511,887 (r)
75 Multifamily 82,997 (r) 84,237 (r) 84,544 (r)
76 Nonfarm, non-
residential 128,503 (r) 121,871 (r) 122,144 (r)
77 Farm 21,889 22,179 22,348
2001
Type of holder
and property
Q1 Q2
1 All holders 7,061,571 (r) 7,281,487
By type of property
2 One- to four-family
residences 5,319,959 (r) 5,480,513
3 Multifamily
residences 423,557 (r) 438,827
4 Nonfarm, non-
residential 1,208,182 (r) 1,249,096
5 Farm 109,873 113,050
By type of holder
6 Major financial
institutions 2,664,837 2,716,269
7 Commercial
banks (2) 1,688,673 1,727,463
8 One- to four-
family 978,144 999,396
9 Multifamily 79,890 80,542
10 Nonfarm, non-
residential 596,405 612,366
11 Farm 34,234 35,159
12 Savings insti-
tutions (3) 741,114 751,660
13 One- to four-
family 608,289 616,506
14 Multifamily 62,666 63,193
15 Nonfarm, non-
residential 69,589 71,378
16 Farm 569 583
17 Life insurance
companies 235,050 237,146
18 One- to four-
family 4,877 5,003
19 Multifamily 33,557 33,842
20 Nonfarm, non-
residential 183,078 184,634
21 Farm 13,538 13,667
22 Federal and related
agencies 346,276 355,218
23 Government
National
Mortgage
Association 6 6
24 One- to four-
family 6 6
25 Multifamily 0 0
26 Farmers Home
Adminis-
tration (4) 73,361 73,206
27 One- to four-
family 16,297 16,153
28 Multifamily 11,725 11,720
29 Nonfarm, non-
residential 41,247 41,262
30 Farm 4,093 4,072
31 Federal Housing
and Veterans'
Adminis-
trations 2,873 2,918
32 One- to four-
family 1,276 1,267
33 Multifamily 1,597 1,651
34 Resolution Trust
Corporation 0 0
35 One- to four-
family 0 0
36 Multifamily 0 0
37 Nonfarm, non-
residential 0 0
38 Farm 0 0
39 Federal Deposit
Insurance
Corporation 50 24
40 One- to four-
family 8 4
41 Multifamily 10 5
42 Nonfarm, non-
residential 32 15
43 Farm 0 0
44 Federal National
Mortgage
Association 156,294 159,221
45 One- to four-
family 145,014 147,730
46 Multifamily 11,280 11,491
47 Federal Land
Banks 37,072 38,686
48 One- to four-
family 2,181 2,276
49 Farm 0 0
50 Federal Home Loan
Mortgage
Corporation 60,110 61,542
51 One- to four-
family 42,771 42,537
52 Multifamily 17,339 19,005
53 Mortgage pools or
trusts (5) 3,303,731 (r) 3,450,243
54 Government
National
Mortgage
Association 601,523 (r) 598,075
55 One- to four-
family 581,743 (r) 577,284
56 Multifamily 19,780 20,792
57 Federal Home Loan
Mortgage
Corporation 833,616 873,750
58 One- to four-
family 827,769 867,924
59 Multifamily 5,847 5,826
60 Federal National
Mortgage
Association 1,099,049 1,163,978
61 One- to four-
family 1,055,412 1,116,534
62 Multifamily 43,637 47,444
63 Farmers Home
Adminis-
tration (4) 0 0
64 One- to four-
family 0 0
65 Multifamily 0 0
66 Nonfarm, non-
residential 0 0
67 Farm 0 0
68 Private mortgage
conduits 769,543 814,440
69 One- to four-
family (6) 523,300 539,200
70 Multifamily 50,749 56,974
71 Nonfarm, non-
residential 195,494 218,266
72 Farm 0 0
73 Individuals and
others (7) 746,727 (r) 759,758
74 One- to four-
family 516,580 (r) 529,296
75 Multifamily 85,263 (r) 86,129
76 Nonfarm, non-
residential 122,336 (r) 121,174
77 Farm 22,547 23,160
(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
Seasonally adjusted
1 Total 1,315,797 1,413,564 1,557,931
2 Revolving 560,155 594,339 663,170
3 Nonrevolving (2) 755,642 819,225 894,761
Not seasonally adjusted
4 Total 1,346,596 1,446,127 1,593,051
By major holder
5 Commercial banks 508,932 499,758 541,470
6 Finance companies 183,345 201,549 219,783
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 586,163 621,914 692,955
12 Commercial banks 210,346 189,352 218,063
13 Finance companies 31,944 32,483 37,561
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 760,433 824,213 900,095
19 Commercial banks 298,586 310,406 323,407
20 Finance companies 151,401 169,066 182,221
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
2001
Holder and type of credit
May June July
Seasonally adjusted
1 Total 1,617,041 1,616,293 1,615,308
2 Revolving 698,536 699,651 694,785
3 Nonrevolving (2) 918,505 916,642 920,524
Not seasonally adjusted
4 Total 1,602,128 1,608,104 1,607,705
By major holder
5 Commercial banks 543,048 540,213 535,459
6 Finance companies 217,697 214,271 216,191
7 Credit unions 185,683 186,357 185,081
8 Savings institutions 65,396 65,340 66,584
9 Nonfinancial business 69,963 68,013 65,228
10 Pools of securitized
assets (3) 520,340 533,911 539,164
By major type of credit (4)
11 Revolving 691,141 693,662 687,439
12 Commercial banks 216,268 213,014 208,852
13 Finance companies 37,033 36,848 36,949
14 Credit unions 21,207 21,268 21,799
15 Savings institutions 16,589 16,389 16,568
16 Nonfinancial business 32,690 31,366 29,314
17 Pools of securitized
assets (3) 367,354 374,776 373,958
18 Nonrevolving 910,987 914,442 920,267
19 Commercial banks 326,780 327,199 326,607
20 Finance companies 180,664 177,422 179,242
21 Credit unions 164,476 165,089 163,282
22 Savings institutions 48,807 48,951 50,016
23 Nonfinancial business 37,274 36,647 35,914
24 Pools of securitized
assets (3) 152,986 159,134 165,207
2001
Holder and type of credit
Aug. Sept. Oct.
Seasonally adjusted
1 Total 1,619,629 1,621,615 1,628,649
2 Revolving 693,486 692,732 689,032
3 Nonrevolving (2) 926,143 928,882 939,617
Not seasonally adjusted
4 Total 1,621,982 1,622,820 1,631,729
By major holder
5 Commercial banks 537,724 535,255 539,758
6 Finance companies 224,310 220,849 218,953
7 Credit unions 186,274 185,732 186,120
8 Savings institutions 67,828 69,072 68,275
9 Nonfinancial business 63,310 60,212 58,719
10 Pools of securitized
assets (3) 542,536 551,700 559,904
By major type of credit (4)
11 Revolving 689,874 688,512 685,626
12 Commercial banks 206,279 203,126 208,591
13 Finance companies 37,082 35,901 27,999
14 Credit unions 22,195 21,879 21,490
15 Savings institutions 16,746 16,925 16,862
16 Nonfinancial business 27,603 25,207 23,709
17 Pools of securitized
assets (3) 379,968 385,474 386,975
18 Nonrevolving 932,108 934,308 946,103
19 Commercial banks 331,445 332,129 331,168
20 Finance companies 187,228 184,948 190,954
21 Credit unions 164,079 163,853 164,630
22 Savings institutions 51,082 52,147 51,413
23 Nonfinancial business 35,707 35,005 35,010
24 Pools of securitized
assets (3) 162,567 166,226 172,929
(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
2001
Item 1998 1999 2000
Apr.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.72 8.44 9.34 n.a.
2 24-month personal 13.74 13.39 13.90 n.a.
Credit card plan
3 All accounts 15.71 15.21 15.71 n.a.
4 Accounts assessed interest 15.59 14.81 14.91 n.a.
Auto finance companies
5 New car 6.30 6.66 6.61 6.80
6 Used car 12.64 12.60 13.55 12.82
OTHER TERMS (3)
Maturity (months)
7 New car 52.1 52.7 54.9 56.3
8 Used car 53.5 55.9 57.0 57.9
Loan-to-value ratio
9 New car 92 92 92 91
10 Used car 99 99 99 100
Amount financed (dollars)
11 New car 19,083 19,880 20,923 21,914
12 Used car 12,691 13,642 14,058 14,347
2001
Item
May June July
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.67 n.a. n.a.
2 24-month personal 13.28 n.a. n.a.
Credit card plan
3 All accounts 15.07 n.a. n.a.
4 Accounts assessed interest 14.63 n.a. n.a.
Auto finance companies
5 New car 6.56 6.15 6.20
6 Used car 12.57 12.05 11.79
OTHER TERMS (3)
Maturity (months)
7 New car 57.0 57.2 57.3
8 Used car 57.8 57.6 57.6
Loan-to-value ratio
9 New car 92 91 91
10 Used car 100 100 100
Amount financed (dollars)
11 New car 21,871 22,124 22,687
12 Used car 14,350 14,586 14,571
2001
Item
Aug. Sept. Oct.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.31 n.a. n.a.
2 24-month personal 13.25 n.a. n.a.
Credit card plan
3 All accounts 14.60 n.a. n.a.
4 Accounts assessed interest 14.64 n.a. n.a.
Auto finance companies
5 New car 6.41 5.42 2.71
6 Used car 12.06 12.01 11.41
OTHER TERMS (3)
Maturity (months)
7 New car 57.7 57.2 53.7
8 Used car 57.6 57.6 57.2
Loan-to-value ratio
9 New car 91 92 94
10 Used car 100 101 100
Amount financed (dollars)
11 New car 22,591 23,049 24,443
12 Used car 14,321 14,408 14,627
(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.
Flow of Funds
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
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 705.9 733.6 (r) 805.5 (r)
By sector and
instrument
2 Federal government 144.4 145.0 23.1
3 Treasury securities 142.9 146.6 23.2
4 Budget agency
securities
and mortgages 1.5 -1.6 -.1
5 Nonfederal 561.5 588.6 (r) 782.4 (r)
By instrument
6 Commercial paper 18.1 -.9 13.7
7 Municipal securities
and loans -48.2 2.6 71.4
8 Corporate bonds 91.1 116.3 150.5
9 Bank loans n.e.c. 103.7 70.4 (r) 106.4 (r)
10 Other loans and
advances 67.2 28.7 (r) 59.5 (r)
11 Mortgages 190.6 280.4 (r) 323.3 (r)
12 Home 179.1 245.7 (r) 258.3 (r)
13 Multifamily
residential 4.5 9.4 (r) 7.5 (r)
14 Commercial 5.7 22.5 54.4 (r)
15 Farm 1.4 2.7 3.1
16 Consumer credit 138.9 91.3 (r) 57.5 (r)
By borrowing sector
17 Household 339.3 343.8 (r) 332.7 (r)
18 Nonfinancial business 273.7 251.6 (r) 393.6 (r)
19 Corporate 224.9 179.4 (r) 292.7 (r)
20 Nonfarm
noncorporate 46.1 67.3 (r) 94.7 (r)
21 Farm 2.7 4.9 6.2
22 State and local
government -51.5 -6.8 56.1
23 Foreign net borrowing
in United States 78.5 88.4 71.8
24 Commercial paper 13.5 11.3 3.7
25 Bonds 57.1 67.0 61.4
26 Bank loans n.e.c. 8.5 9.1 8.5
27 Other loans and
advances -.5 1.0 -1.8
28 Total domestic plus
foreign 784.5 822.0 (r) 877.3 (r)
Financial sectors
29 Total net borrowing by
financial sectors 454.0 550.1 (r) 662.2 (r)
By instrument
30 Federal government-
related 204.2 231.4 212.9
31 Government-sponsored
enterprise
securities 105.9 90.4 98.4
32 Mortgage pool
securities 98.3 141.0 114.6
33 Loans from U.S.
government .0 .0 .0
34 Private 249.8 318.7 (r) 449.3 (r)
35 Open market paper 42.7 92.2 166.7
36 Corporate bonds 195.9 178.1 (r) 218.9 (r)
37 Bank loans n.e.c. 2.5 12.6 13.3 (r)
38 Other loans and
advances 3.4 27.9 35.6
39 Mortgages 5.3 7.9 14.9
By borrowing sector
40 Commercial banking 22.5 13.0 46.1
41 Savings institutions 2.6 25.5 19.7
42 Credit unions -.1 .1 .1
43 Life insurance
companies -.1 1.1 .2
44 Government-sponsored
enterprises 105.9 90.4 98.4
45 Federally related
mortgage pools 98.3 141.0 114.6
46 Issuers of asset-backed
securities (ABSs) 142.4 150.8 202.2
47 Finance companies 50.2 50.6 (r) 57.8 (r)
48 Mortgage companies -2.2 4.1 -4.6
49 Real estate investment
trusts (REITs) 4.5 11.9 39.6
50 Brokers and dealers -5.0 -2.0 8.1
51 Funding corporations 34.9 63.8 (r) 79.9 (r)
1995 1996 (r) 1997 (r)
All sectors
52 Total net borrowing,
all sectors 1,238.5 1,372.1 1,539.5
53 Open market paper 74.3 102.6 184.1
54 U.S. government
securities 348.6 376.4 236.0
55 Municipal securities -48.2 2.6 71.4
56 Corporate and foreign
bonds 344.1 361.3 430.8
57 Bank loans n.e.c. 114.7 92.1 128.2
58 Other loans and
advances 70.1 57.7 93.2
59 Mortgages 196.0 288.2 338.2
60 Consumer credit 138.9 91.3 57.5
Funds raised through mutual
funds and corporate equities
61 Total net issues 147.2 (r) 232.9 185.2
62 Corporate equities -.2 (r) -4.7 -79.9
63 Nonfinancial
corporations -58.3 -69.5 -114.4
64 Foreign shares
purchased by U.S.
residents 65.4 82.8 57.6
65 Financial
corporations -7.3 (r) -18.1 -23.1
66 Mutual fund shares 147.4 237.6 265.1
2000
Transaction
category or sector 1998 1999
Q1
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,048.8 (r) 1,099.8 (r) 951.1 (r)
By sector and
instrument
2 Federal government -52.6 -71.2 -217.2
3 Treasury securities -54.6 -71.0 -215.2
4 Budget agency
securities
and mortgages 2.0 -.2 -2.1
5 Nonfederal 1,101.5 (r) 1,171.1 (r) 1,168.4 (r)
By instrument
6 Commercial paper 24.4 37.4 29.8
7 Municipal securities
and loans 96.8 68.2 20.0
8 Corporate bonds 218.7 229.9 186.2
9 Bank loans n.e.c. 108.1 (r) 82.6 (r) 139.5
10 Other loans and
advances 82.1 (r) 57.1 (r) 140.1 (r)
11 Mortgages 496.4 (r) 596.3 (r) 502.9 (r)
12 Home 389.9 (r) 435.2 (r) 361.9 (r)
13 Multifamily
residential 23.8 40.5 (r) 29.2 (r)
14 Commercial 76.1 (r) 114.8 (r) 104.4 (r)
15 Farm 6.5 5.8 7.4
16 Consumer credit 75.0 (r) 99.5 (r) 149.9 (r)
By borrowing sector
17 Household 467.2 (r) 517.1 (r) 526.9 (r)
18 Nonfinancial business 554.0 (r) 601.6 (r) 628.5 (r)
19 Corporate 406.3 (r) 440.8 (r) 479.7 (r)
20 Nonfarm
noncorporate 139.7 (r) 155.4 (r) 135.0 (r)
21 Farm 8.0 5.5 13.8
22 State and local
government 80.3 52.3 12.9
23 Foreign net borrowing
in United States 43.4 27.9 120.3 (r)
24 Commercial paper 7.8 16.3 57.8
25 Bonds 34.9 16.8 47.6 (r)
26 Bank loans n.e.c. 6.7 .5 15.4
27 Other loans and
advances -6.0 -5.7 -.5
28 Total domestic plus
foreign 1,092.2 (r) 1,127.8 (r) 1,071.4 (r)
Financial sectors
29 Total net borrowing by
financial sectors 1,087.2 (r) 1,084.4 (r) 608.0 (r)
By instrument
30 Federal government-
related 470.9 592.0 224.4
31 Government-sponsored
enterprise
securities 278.3 318.2 104.9
32 Mortgage pool
securities 192.6 273.8 119.5
33 Loans from U.S.
government .0 .0 .0
34 Private 616.3 (r) 492.5 (r) 383.6 (r)
35 Open market paper 161.0 176.2 114.6
36 Corporate bonds 310.1 (r) 218.2 (r) 171.8 (r)
37 Bank loans n.e.c. 30.1 -14.2 (r) 3.2 (r)
38 Other loans and
advances 90.2 107.1 87.0
39 Mortgages 24.8 5.1 7.0
By borrowing sector
40 Commercial banking 72.9 67.2 78.3
41 Savings institutions 52.2 48.0 57.5
42 Credit unions .6 2.2 -2.9
43 Life insurance
companies .7 .7 -.7
44 Government-sponsored
enterprises 278.3 318.2 104.9
45 Federally related
mortgage pools 192.6 273.8 119.5
46 Issuers of asset-backed
securities (ABSs) 321.4 223.4 175.0
47 Finance companies 57.1 (r) 70.3 (r) 61.1 (r)
48 Mortgage companies 1.6 .2 -3.0
49 Real estate investment
trusts (REITs) 62.7 6.3 11.5
50 Brokers and dealers 7.2 -17.2 44.4
51 Funding corporations 40.0 (r) 91.5 (r) -37.5 (r)
2000
1998 (r) 1999 (r)
Q1 (r)
All sectors
52 Total net borrowing,
all sectors 2,179.4 2,212.2 1,679.4
53 Open market paper 193.1 229.9 202.1
54 U.S. government
securities 418.3 520.7 7.2
55 Municipal securities 96.8 68.2 20.0
56 Corporate and foreign
bonds 563.7 465.0 405.6
57 Bank loans n.e.c. 145.0 68.9 158.0
58 Other loans and
advances 166.3 158.5 226.6
59 Mortgages 521.2 601.4 509.9
60 Consumer credit 75.0 99.5 149.9
Funds raised through mutual
funds and corporate equities
61 Total net issues 108.8 153.7 390.1
62 Corporate equities -165.8 -34.6 82.8
63 Nonfinancial
corporations -267.0 -143.5 61.2
64 Foreign shares
purchased by U.S.
residents 101.3 114.4 62.6
65 Financial
corporations -.1 -5.6 -41.0
66 Mutual fund shares 274.6 188.3 307.3
2000
Transaction
category or sector
Q2 Q3 Q4
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 978.2 (r) 792.0 (r) 772.1 (r)
By sector and
instrument
2 Federal government -408.7 -226.2 -331.3
3 Treasury securities -410.5 -223.8 -330.2
4 Budget agency
securities
and mortgages 1.8 -2.4 -1.2
5 Nonfederal 1,386.9 (r) 1,018.2 (r) 1,103.5 (r)
By instrument
6 Commercial paper 110.4 56.1 -4.0
7 Municipal securities
and loans 30.1 31.0 60.1
8 Corporate bonds 153.8 168.8 (r) 175.6
9 Bank loans n.e.c. 166.5 (r) 47.0 (r) 59.3 (r)
10 Other loans and
advances 124.2 (r) 16.5 (r) 125.2
11 Mortgages 659.6 (r) 570.7 (r) 551.6 (r)
12 Home 490.3 (r) 441.9 (r) 395.9 (r)
13 Multifamily
residential 48.0 (r) 28.8 (r) 41.7
14 Commercial 111.2 (r) 93.4 (r) 112.0 (r)
15 Farm 10.1 6.5 2.0 (r)
16 Consumer credit 142.1 (r) 128.2 (r) 135.6 (r)
By borrowing sector
17 Household 624.3 (r) 554.5 (r) 514.0 (r)
18 Nonfinancial business 744.4 (r) 440.0 (r) 535.8 (r)
19 Corporate 550.2 (r) 303.7 (r) 388.8 (r)
20 Nonfarm
noncorporate 184.5 (r) 129.1 (r) 134.2
21 Farm 9.7 7.2 12.8 (r)
22 State and local
government 18.2 23.8 53.7
23 Foreign net borrowing
in United States -7.9 (r) 88.6 (r) 66.8 (r)
24 Commercial paper 12.0 7.0 50.1
25 Bonds -27.3 (r) 71.4 (r) 9.0 (r)
26 Bank loans n.e.c. 5.7 11.9 12.2
27 Other loans and
advances 1.7 -1.7 -4.6
28 Total domestic plus
foreign 970.3 (r) 880.6 (r) 838.9 (r)
Financial sectors
29 Total net borrowing by
financial sectors 897.1 (r) 794.0 (r) 963.1 (r)
By instrument
30 Federal government-
related 381.1 514.8 613.6
31 Government-sponsored
enterprise
securities 248.9 278.1 304.5
32 Mortgage pool
securities 132.2 236.7 309.1
33 Loans from U.S.
government .0 .0 .0
34 Private 516.1 (r) 279.2 (r) 349.5 (r)
35 Open market paper 136.7 106.5 153.2
36 Corporate bonds 243.3 (r) 205.0 (r) 203.7 (r)
37 Bank loans n.e.c. 6.9 (r) -6.7 (r) -4.4
38 Other loans and
advances 119.2 -31.6 -4.8
39 Mortgages 10.0 6.0 1.8
By borrowing sector
40 Commercial banking 99.3 43.4 18.8
41 Savings institutions 69.0 -37.9 20.4
42 Credit unions .9 1.1 1.0
43 Life insurance
companies -1.1 -.3 -.7
44 Government-sponsored
enterprises 248.9 278.1 304.5
45 Federally related
mortgage pools 132.2 236.7 309.1
46 Issuers of asset-backed
securities (ABSs) 146.0 156.2 307.9
47 Finance companies 139.4 (r) 98.1 (r) 26.1 (r)
48 Mortgage companies 2.7 -.3 1.0
49 Real estate investment
trusts (REITs) 9.8 -2.4 -8.1
50 Brokers and dealers -.7 25.4 -6.6
51 Funding corporations 50.6 (r) -4.2 (r) -10.4 (r)
2000
Q2 (r) Q3 (r) Q4 (r)
All sectors
52 Total net borrowing,
all sectors 1,867.4 1,674.6 1,802.0
53 Open market paper 259.1 169.7 199.3
54 U.S. government
securities -27.6 288.6 282.2
55 Municipal securities 30.1 31.0 60.1
56 Corporate and foreign
bonds 369.8 445.2 388.3
57 Bank loans n.e.c. 179.2 52.2 67.1
58 Other loans and
advances 245.1 -16.8 115.8
59 Mortgages 669.6 576.7 553.5
60 Consumer credit 142.1 128.2 135.6
Funds raised through mutual
funds and corporate equities
61 Total net issues 209.9 245.6 -14.8
62 Corporate equities -22.2 -33.8 -171.5
63 Nonfinancial
corporations -245.2 -67.6 -350.8
64 Foreign shares
purchased by U.S.
residents 185.9 61.1 89.4
65 Financial
corporations 37.2 -27.3 89.8
66 Mutual fund shares 232.0 279.4 156.7
2001
Transaction
category or sector
Q1 (r) Q2 (r) Q3
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,006.5 1,018.6 1,275.5
By sector and
instrument
2 Federal government -4.3 -256.0 255.7
3 Treasury securities -2.1 -257.1 256.0
4 Budget agency
securities
and mortgages -2.2 1.1 -.4
5 Nonfederal 1,010.9 1,274.6 1,019.8
By instrument
6 Commercial paper -207.2 -141.5 -74.1
7 Municipal securities
and loans 110.7 112.4 56.0
8 Corporate bonds 400.9 428.0 187.7
9 Bank loans n.e.c. -5.9 -153.2 -9.9
10 Other loans and
advances -12.0 117.7 78.4
11 Mortgages 564.6 837.7 760.6
12 Home 434.3 622.9 544.7
13 Multifamily
residential 39.3 55.5 57.7
14 Commercial 86.8 146.8 151.6
15 Farm 4.2 12.4 6.5
16 Consumer credit 159.9 73.6 21.3
By borrowing sector
17 Household 554.4 671.2 616.2
18 Nonfinancial business 352.6 494.7 360.6
19 Corporate 225.2 354.3 248.9
20 Nonfarm
noncorporate 121.3 130.6 108.6
21 Farm 6.0 9.8 3.1
22 State and local
government 103.9 108.7 43.0
23 Foreign net borrowing
in United States -6.9 -57.2 -126.8
24 Commercial paper -25.4 -5.6 -26.5
25 Bonds 17.1 -15.9 -101.4
26 Bank loans n.e.c. 13.0 -31.0 4.4
27 Other loans and
advances -11.6 -4.7 -3.4
28 Total domestic plus
foreign 999.6 961.5 1,148.7
Financial sectors
29 Total net borrowing by
financial sectors 864.2 795.7 1,086.3
By instrument
30 Federal government-
related 432.6 674.8 820.6
31 Government-sponsored
enterprise
securities 262.3 268.3 328.0
32 Mortgage pool
securities 170.3 406.5 492.6
33 Loans from U.S.
government .0 .0 .0
34 Private 431.7 120.9 265.7
35 Open market paper -134.6 -85.4 -85.6
36 Corporate bonds 438.9 186.8 309.6
37 Bank loans n.e.c. 27.1 14.3 -8.1
38 Other loans and
advances 107.8 -11.0 58.0
39 Mortgages -7.5 16.2 -8.2
By borrowing sector
40 Commercial banking 148.3 -15.8 69.8
41 Savings institutions 62.5 16.1 12.6
42 Credit unions -.6 .8 1.5
43 Life insurance
companies -2.4 .1 3.5
44 Government-sponsored
enterprises 262.3 268.3 328.0
45 Federally related
mortgage pools 170.3 406.5 492.6
46 Issuers of asset-backed
securities (ABSs) 295.8 172.3 303.2
47 Finance companies -72.8 64.1 22.1
48 Mortgage companies .7 .6 .8
49 Real estate investment
trusts (REITs) -6.1 10.5 -10.2
50 Brokers and dealers -23.9 35.7 12.3
51 Funding corporations 30.1 -163.6 -150.0
2001
Q1 (r) Q2 (r) Q3
All sectors
52 Total net borrowing,
all sectors 1,863.8 1,757.2 2,235.0
53 Open market paper -367.2 -232.5 -186.3
54 U.S. government
securities 428.2 418.8 1,076.3
55 Municipal securities 110.7 112.4 56.0
56 Corporate and foreign
bonds 856.9 598.9 395.9
57 Bank loans n.e.c. 34.1 -170.0 -13.6
58 Other loans and
advances 84.2 102.0 133.0
59 Mortgages 557.1 853.9 752.3
60 Consumer credit 159.9 73.6 21.3
Funds raised through mutual
funds and corporate equities
61 Total net issues 233.7 387.5 88.9
62 Corporate equities 137.3 119.5 -80.9
63 Nonfinancial
corporations -25.6 -72.6 -118.5
64 Foreign shares
purchased by U.S.
residents 109.2 208.8 10.9
65 Financial
corporations 53.7 -16.7 26.7
66 Mutual fund shares 96.4 268.0 169.8
(1.) Data in this table also appear in the Board's
Z.1 (780) quarterly statistical release, tables F.2
through F4. 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 1,238.5 1,372.1 (r) 1,539.5 (r)
2 Domestic nonfederal non-
financial sectors -79.3 74.0 (r) -21.3 (r)
3 Household 16.5 113.7 (r) -11.8 (r)
4 Nonfinancial corporate
business -8.8 -10.2 -12.7
5 Nonfarm noncorporate
business 4.4 4.2 3.0
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 1,044.4 890.9 (r) 1,244.5 (r)
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 10.2 4.6 -2.6
26 Government-sponsored
enterprises 95.4 97.4 106.6
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 18.9 (r) 23.1 (r)
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 1,238.5 1,372.1 (r) 1,539.5 (r)
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 85.9 107.7
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 -.2 (r) -4.7 (r) -79.9 (r)
46 Mutual fund shares 147.4 237.6 265.1
47 Trade payables 133.7 123.3 139.7
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 7.8 19.5 22.3
52 Investment in bank
personal trusts 6.4 -5.3 -49.9
53 Noncorporate proprietors'
equity -.2 -31.1 (r) -70.9 (r)
54 Miscellaneous 496.9 526.1 (r) 492.8 (r)
55 Total financial sources 2,719.7 (r) 2,924.5 (r) 3,256.8 (r)
Liabilities not identified
as assets (-)
56 Treasury currency -.3 -.4 -.2
57 Foreign deposits 25.0 (r) 59.4 (r) 106.2
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 -198.7 (r) -173.7 (r) -245.5 (r)
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 17.4 -25.4 -29.2
65 Total identified to
sectors as assets 2,842.5 (r) 3,046.2 (r) 3,360.7 (r)
2000
Transaction category
or sector 1998 1999
Q1
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 2,179.4 (r) 2,212.2 (r) 1,679.4 (r)
2 Domestic nonfederal non-
financial sectors 99.5 (r) 196.3 (r) -218.5 (r)
3 Household -37.1 (r) 148.6 (r) -274.4 (r)
4 Nonfinancial corporate
business -16.0 -2.8 56.8 (r)
5 Nonfarm noncorporate
business 18.1 7.1 -2.1
6 State and local
governments 134.5 43.4 1.2
7 Federal government 13.5 5.8 6.5
8 Rest of the world 254.2 208.8 315.2
9 Financial sectors 1,812.1 (r) 1,801.3 (r) 1,576.1 (r)
10 Monetary authority 21.1 25.7 102.0
11 Commercial banking 305.2 308.2 415.8
12 U.S.-chartered banks 312.0 317.6 448.2
13 Foreign banking
offices in United
States -11.9 -20.1 4.5
14 Bank holding companies -.9 6.2 -42.2
15 Banks in U.S.-
affiliated areas 6.0 4.4 5.4
16 Savings institutions 36.1 68.6 55.6
17 Credit unions 19.0 27.5 35.7
18 Bank personal trusts and
estates -12.8 27.8 18.9
19 Life insurance companies 76.9 53.5 65.0
20 Other insurance
companies 5.8 -3.0 -11.2
21 Private pension funds 56.4 45.0 46.8
22 State and local
government retirement
funds 72.1 46.9 63.3
23 Money market mutual
funds 244.0 182.0 161.5
24 Mutual funds 124.8 47.2 -66.9
25 Closed-end funds 5.5 7.4 -8.4
26 Government-sponsored
enterprises 314.6 291.7 205.4
27 Federally related
mortgage pools 192.6 273.8 119.5
28 Asset-backed securities
issuers (ABSs) 281.7 205.2 154.2
29 Finance companies 77.3 (r) 97.0 (r) 145.4 (r)
30 Mortgage companies 3.2 .3 -6.0
31 Real estate investment
trusts (REITs) -5.1 -2.6 -16.3
32 Brokers and dealers 6.8 -34.7 102.9 (r)
33 Funding corporations -12.9 133.8 -7.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,179.4 (r) 2,212.2 (r) 1,679.4 (r)
Other financial sources
35 Official foreign exchange 6.6 -8.7 1.5
36 Special drawing rights
certificates .0 -3.0 .0
37 Treasury currency .6 1.0 2.2
38 Foreign deposits 6.5 61.0 313.3
39 Net interbank transactions -32.3 17.6 -72.9
40 Checkable deposits and
currency 47.4 151.4 -206.8
41 Small time and savings
deposits 152.4 44.7 104.6
42 Large time deposits 92.1 130.6 154.1
43 Money market fund shares 287.2 249.1 239.7
44 Security repurchase
agreements 91.3 169.7 275.8 (r)
45 Corporate equities -165.8 (r) -34.6 (r) 82.8 (r)
46 Mutual fund shares 274.6 188.3 307.3
47 Trade payables 109.2 222.3 193.6 (r)
48 Security credit 103.3 104.3 507.8 (r)
49 Life insurance reserves 48.0 50.8 54.9
50 Pension fund reserves 202.1 184.4 (r) 206.9 (r)
51 Taxes payable 21.3 22.3 31.0 (r)
52 Investment in bank
personal trusts -41.8 -6.5 -28.4
53 Noncorporate proprietors'
equity -80.6 (r) -64.8 (r) -63.4 (r)
54 Miscellaneous 986.8 (r) 749.8 (r) 904.3 (r)
55 Total financial sources 4,288.2 (r) 4,441.8 (r) 4,687.7 (r)
Liabilities not identified
as assets (-)
56 Treasury currency -.1 -.7 -1.8
57 Foreign deposits -8.5 45.8 263.1 (r)
58 Net interbank liabilities 3.4 3.5 25.3
59 Security repurchase
agreements 60.6 30.0 567.2 (r)
60 Taxes payable 19.7 6.5 9.5 (r)
61 Miscellaneous -127.4 (r) -418.9 (r) -501.0 (r)
Floats not included in
assets (-)
62 Federal government
checkable deposits 2.6 -7.4 18.7
63 Other checkable deposits -3.1 -.8 1.0
64 Trade credit -51.3 42.9 -71.8 (r)
65 Total identified to
sectors as assets 4,392.3 (r) 4,740.8 (r) 4,377.5 (r)
2000
Transaction category
or sector
Q2 Q3 Q4
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 1,867.4 (r) 1,674.6 (r) 1,802.0 (r)
2 Domestic nonfederal non-
financial sectors 90.3 (r) -255.1 (r) -227.2 (r)
3 Household -10.4 (r) -183.3 (r) -212.1 (r)
4 Nonfinancial corporate
business 60.4 (r) -51.4 (r) -24.5 (r)
5 Nonfarm noncorporate
business .4 -4.0 -2.7
6 State and local
governments 39.9 -16.4 12.1
7 Federal government 7.7 4.5 10.6
8 Rest of the world 197.9 216.2 387.8
9 Financial sectors 1,571.4 (r) 1,709.0 (r) 1,630.7 (r)
10 Monetary authority -5.4 39.1 -.9
11 Commercial banking 497.4 363.2 157.0
12 U.S.-chartered banks 510.9 324.8 75.3
13 Foreign banking
offices in United
States -22.3 32.8 81.1
14 Bank holding companies 3.5 -6.7 -3.2
15 Banks in U.S.-
affiliated areas 5.4 12.3 3.8
16 Savings institutions 65.0 62.7 42.5
17 Credit unions 31.6 21.2 33.6
18 Bank personal trusts and
estates 13.8 17.6 18.1
19 Life insurance companies 52.9 74.8 38.8
20 Other insurance
companies -18.1 6.2 -11.7
21 Private pension funds 24.7 64.9 28.7
22 State and local
government retirement
funds 31.5 37.6 86.1 (r)
23 Money market mutual
funds -118.2 256.1 296.0
24 Mutual funds 63.1 50.1 60.8
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 250.9 188.6 318.8
27 Federally related
mortgage pools 132.2 236.7 309.1
28 Asset-backed securities
issuers (ABSs) 111.4 120.9 278.9
29 Finance companies 147.6 (r) 102.8 (r) 36.2 (r)
30 Mortgage companies 5.5 -.5 2.0
31 Real estate investment
trusts (REITs) -2.5 -3.6 -2.8
32 Brokers and dealers 89.8 (r) 152.1 (r) -69.0
33 Funding corporations 206.8 (r) -73.0 (r) 17.0 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,867.4 (r) 1,674.6 (r) 1,802.0 (r)
Other financial sources
35 Official foreign exchange -8.8 .7 4.9
36 Special drawing rights
certificates -8.0 -4.0 -4.0
37 Treasury currency 3.2 4.2 -0.0
38 Foreign deposits 3.4 -40.8 207.4
39 Net interbank transactions 151.9 -170.6 10.6
40 Checkable deposits and
currency -33.8 5.0 -50.2
41 Small time and savings
deposits 123.0 224.5 310.8
42 Large time deposits 101.2 152.9 65.2
43 Money market fund shares 71.5 250.9 371.1
44 Security repurchase
agreements 155.1 (r) 277.1 (r) -265.4 (r)
45 Corporate equities -22.2 (r) -33.8 (r) -171.5 (r)
46 Mutual fund shares 232.0 279.4 156.7
47 Trade payables 212.9 (r) 138.5 (r) 119.3 (r)
48 Security credit -95.3 (r) 97.5 (r) 74.4 (r)
49 Life insurance reserves 45.6 53.0 47.3
50 Pension fund reserves 260.7 (r) 227.0 (r) 168.8 (r)
51 Taxes payable 26.5 (r) 3.3 (r) 26.0 (r)
52 Investment in bank
personal trusts -33.1 -29.2 -28.0
53 Noncorporate proprietors'
equity -45.0 (r) -26.7 (r) -49.7 (r)
54 Miscellaneous 1,084.0 (r) 1,399.2 (r) 733.1 (r)
55 Total financial sources 4,092.3 (r) 4,482.8 (r) 3,528.8 (r)
Liabilities not identified
as assets (-)
56 Treasury currency -.7 .9 -3.3
57 Foreign deposits -82.2 (r) -100.2 (r) 200.3 (r)
58 Net interbank liabilities 5.4 -12.1 51.1
59 Security repurchase
agreements 51.9 (r) 126.5 (r) -301.4 (r)
60 Taxes payable 4.8 (r) -2.6 (r) 44.6 (r)
61 Miscellaneous -353.3 (r) -232.2 (r) -390.1 (r)
Floats not included in
assets (-)
62 Federal government
checkable deposits 16.3 3.0 -2.1
63 Other checkable deposits 1.4 1.9 2.4
64 Trade credit -36.5 (r) -51.9 (r) 24.3 (r)
65 Total identified to
sectors as assets 4,485.3 (r) 4,749.6 (r) 3,903.1 (r)
2001
Transaction category
or sector
Q1 Q2 (r) Q3
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 1,863.8 (r) 1,757.2 2,235.0
2 Domestic nonfederal non-
financial sectors -171.6 (r) -153.8 -178.8
3 Household -172.5 (r) -140.5 -118.5
4 Nonfinancial corporate
business 4.1 (r) 16.6 -23.7
5 Nonfarm noncorporate
business -4.8 -5.2 -6.2
6 State and local
governments 1.5 -24.8 -30.4
7 Federal government 4.6 4.0 1.0
8 Rest of the world 411.2 (r) 349.6 381.9
9 Financial sectors 1,619.7 (r) 1,557.4 2,030.9
10 Monetary authority 53.7 26.4 8.7
11 Commercial banking 152.8 133.9 234.8
12 U.S.-chartered banks 107.9 179.7 215.4
13 Foreign banking
offices in United
States 41.3 -48.6 16.5
14 Bank holding companies 7.3 -2.8 -1.4
15 Banks in U.S.-
affiliated areas -3.6 5.6 4.2
16 Savings institutions 52.5 57.3 -6.0
17 Credit unions 23.2 (r) 7.6 61.7
18 Bank personal trusts and
estates 10.7 13.4 8.8
19 Life insurance companies 95.3 124.9 162.4
20 Other insurance
companies 2.1 .1 9.0
21 Private pension funds 26.1 -7.1 -.9
22 State and local
government retirement
funds -70.7 (r) 53.4 18.5
23 Money market mutual
funds 303.4 166.2 379.1
24 Mutual funds 69.4 165.1 123.9
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 347.8 296.2 267.7
27 Federally related
mortgage pools 170.3 406.5 492.6
28 Asset-backed securities
issuers (ABSs) 269.8 150.0 276.4
29 Finance companies -.9 (r) 126.7 -42.1
30 Mortgage companies 1.4 1.1 1.7
31 Real estate investment
trusts (REITs) 4.0 1.1 7.7
32 Brokers and dealers 289.5 (r) 35.4 250.1
33 Funding corporations -172.5 (r) -192.4 -214.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,863.8 (r) 1,757.2 2,235.0
Other financial sources
35 Official foreign exchange -1.5 4.7 19.1
36 Special drawing rights
certificates .0 .0 .0
37 Treasury currency -1.1 1.1 -0.0
38 Foreign deposits 235.5 -146.5 15.4
39 Net interbank transactions -45.7 (r) 19.3 19.7
40 Checkable deposits and
currency 90.3 100.8 245.3
41 Small time and savings
deposits 288.3 194.2 229.2
42 Large time deposits 130.6 51.9 14.9
43 Money market fund shares 621.4 322.5 367.7
44 Security repurchase
agreements -12.8 (r) 177.7 262.2
45 Corporate equities 137.3 (r) 119.5 -80.9
46 Mutual fund shares 96.4 268.0 169.8
47 Trade payables -16.2 (r) -100.0 -81.4
48 Security credit -140.9 (r) -28.5 485.8
49 Life insurance reserves 52.7 53.2 56.5
50 Pension fund reserves 255.5 (r) 168.7 192.9
51 Taxes payable 3.3 (r) 16.3 114.4
52 Investment in bank
personal trusts -26.1 -22.7 -28.2
53 Noncorporate proprietors'
equity -48.5 (r) -25.1 -60.2
54 Miscellaneous 500.7 (r) 789.8 571.8
55 Total financial sources 3,983.1 (r) 3,722.3 4,749.2
Liabilities not identified
as assets (-)
56 Treasury currency -3.6 -.5 -.7
57 Foreign deposits 181.5 (r) -121.2 24.8
58 Net interbank liabilities 16.7 13.6 8.3
59 Security repurchase
agreements -161.7 (r) 171.9 36.6
60 Taxes payable 4.4 (r) -9.7 12.9
61 Miscellaneous 27.3 (r) -477.6 -87.0
Floats not included in
assets (-)
62 Federal government
checkable deposits -29.8 10.1 18.5
63 Other checkable deposits 3.8 3.9 5.1
64 Trade credit 2.0 (r) 32.3 -10.7
65 Total identified to
sectors as assets 3,942.5 (r) 4,099.7 4,741.5
(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 14,441.1 (r) 15,245.1 (r) 16,293.9 (r)
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 10,659.4 (r) 11,440.2 (r) 12,541.7 (r)
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. 934.0 (r) 1,040.4 (r) 1,148.5 (r)
10 Other loans and
advances 765.6 (r) 825.1 (r) 907.2 (r)
11 Mortgages 4,832.9 (r) 5,156.2 (r) 5,652.6 (r)
12 Home 3,720.0 (r) 3,978.3 (r) 4,368.2 (r)
13 Multifamily
residential 278.2 285.7 (r) 309.5 (r)
14 Commercial 747.8 802.2 (r) 878.3 (r)
15 Farm 86.9 90.0 96.6
16 Consumer credit 1,214.1 (r) 1,271.6 (r) 1,346.6 (r)
By borrowing sector
17 Households 5,223.9 (r) 5,556.9 (r) 6,024.1 (r)
18 Nonfinancial business 4,372.0 (r) 4,763.8 (r) 5,317.8 (r)
19 Corporate 3,093.0 (r) 3,383.9 (r) 3,790.2 (r)
20 Nonfarm non-
corporate 1,129.3 (r) 1,224.0 (r) 1,363.7 (r)
21 Farm 149.7 155.9 163.9
22 State and local
government 1,063.4 1,119.5 1,199.8
23 Foreign credit market
debt held in
United States 542.2 608.0 651.5
24 Commercial paper 67.5 65.1 72.9
25 Bonds 366.3 427.7 462.6
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 non-
financial sectors,
domestic and foreign 14,983.3 (r) 15,853.1 (r) 16,945.4 (r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 4,828.8 (r) 5,458.0 (r) 6,545.2 (r)
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 2,220.6 (r) 2,636.9 (r) 3,253.2 (r)
35 Open market paper 579.1 745.7 906.7
36 Corporate bonds 1,382.7 (r) 1,568.6 (r) 1,878.7 (r)
37 Bank loans n.e.c. 64.0 77.3 (r) 107.5 (r)
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 .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 534.5 (r) 568.3 (r) 625.5 (r)
50 Mortgage companies 20.6 16.0 17.7
51 Real estate investment
trusts (REITs) 56.5 96.1 158.8
52 Funding corporations 312.4 (r) 372.6 (r) 412.6 (r)
All sectors
53 Total credit market
debt, domestic and
foreign 19,812.1 (r) 21,311.1 (r) 23,490.6 (r)
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 3,209.4 (r) 3,607.2 (r) 4,170.8 (r)
58 Bank loans n.e.c. 1,041.7 1,169.8 1,314.9
59 Other loans and
advances 993.2 (r) 1,086.6 (r) 1,253.0 (r)
60 Mortgages 4,864.8 (r) 5,203.0 (r) 5,724.2 (r)
61 Consumer credit 1,214.1 (r) 1,271.6 (r) 1,346.6 (r)
2000
Transaction category
or sector 1999
Q1 Q2
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 17,428.5 (r) 17,658.2 (r) 17,839.9 (r)
By sector and
instrument
2 Federal government 3,681.0 3,653.5 3,464.0
3 Treasury securities 3,652.8 3,625.8 3,435.7
4 Budget agency
securities and
mortgages 28.3 27.8 28.2
5 Nonfederal 13,747.4 (r) 14,004.7 (r) 14,376.0 (r)
By instrument
6 Commercial paper 230.3 260.8 296.8
7 Municipal securities
and loans 1,532.5 1,539.2 1,551.6
8 Corporate bonds 2,059.5 2,106.0 2,144.5
9 Bank loans n.e.c. 1,231.2 (r) 1,258.7 (r) 1,306.9 (r)
10 Other loans and
advances 964.5 (r) 1,008.3 (r) 1,037.2 (r)
11 Mortgages 6,283.3 (r) 6,394.6 (r) 6,562.6 (r)
12 Home 4,803.4 (r) 4,879.4 (r) 5,005.1 (r)
13 Multifamily
residential 350.2 (r) 357.5 (r) 369.5 (r)
14 Commercial 1,027.3 (r) 1,053.4 (r) 1,081.2 (r)
15 Farm 102.3 104.2 106.8
16 Consumer credit 1,446.1 (r) 1,437.0 (r) 1,476.5 (r)
By borrowing sector
17 Households 6,541.5 (r) 6,608.3 (r) 6,772.9 (r)
18 Nonfinancial business 5,953.8 (r) 6,139.1 (r) 6,337.4 (r)
19 Corporate 4,265.3 (r) 4,415.3 (r) 4,562.2 (r)
20 Nonfarm non-
corporate 1,519.1 (r) 1,553.1 (r) 1,599.1 (r)
21 Farm 169.4 170.7 176.2
22 State and local
government 1,252.1 1,257.3 1,265.7
23 Foreign credit market
debt held in
United States 679.6 707.9 (r) 702.5 (r)
24 Commercial paper 89.2 101.6 101.2
25 Bonds 479.4 491.3 (r) 484.5 (r)
26 Bank loans n.e.c. 59.4 63.3 64.7
27 Other loans and
advances 51.7 51.7 52.1
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 18,108.1 (r) 18,366.1 (r) 18,542.5 (r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 7,629.6 (r) 7,769.2 (r) 7,993.5 (r)
By instrument
30 Federal government-
related 3,884.0 3,940.1 4,035.3
31 Government-sponsored
enterprise
securities 1,591.7 1,618.0 1,680.2
32 Mortgage pool
securities 2,292.2 2,322.1 2,355.2
33 Loans from U.S.
government .0 .0 .0
34 Private 3,745.6 (r) 3.829.1 (r) 3,958.1 (r)
35 Open market paper 1,082.9 1,115.7 1,135.2
36 Corporate bonds 2,096.9 (r) 2,138.8 (r) 2,212.0 (r)
37 Bank loans n.e.c. 93.2 (r) 91.8 (r) 93.1 (r)
38 Other loans and
advances 395.8 404.4 436.9
39 Mortgages 76.7 78.5 81.0
By borrowing sector
40 Commercial banks 230.0 242.2 265.4
41 Bank holding companies 219.3 221.4 229.3
42 Savings institutions 260.4 266.9 280.7
43 Credit unions 3.4 2.6 2.9
44 Life insurance
companies 3.2 3.0 2.7
45 Government-sponsored
enterprises 1,591.7 1,618.0 1,680.2
46 Federally related
mortgage pools 2,292.2 2,322.1 2,355.2
47 Issuers of asset-backed
securities (ABSs) 1,621.4 1,655.8 1,697.0
48 Brokers and dealers 25.3 36.4 36.2
49 Finance companies 695.7 (r) 708.4 (r) 740.8 (r)
50 Mortgage companies 17.8 17.1 17.8
51 Real estate investment
trusts (REITs) 165.1 167.9 170.4
52 Funding corporations 504.0 (r) 507.4 (r) 515.0 (r)
All sectors
53 Total credit market
debt, domestic and
foreign 25,737.7 (r) 26,135.3 (r) 26,535.9 (r)
54 Open market paper 1,402.4 1,478.1 1,533.3
55 U.S. government
securities 7,565.0 7,593.6 7,499.3
56 Municipal securities 1,532.5 1,539.2 1,551.6
57 Corporate and foreign
bonds 4,635.8 (r) 4,736.1 (r) 4,841.0 (r)
58 Bank loans n.e.c. 1,383.8 1,413.7 1,464.6
59 Other loans and
advances 1,412.0 (r) 1,464.4 (r) 1,526.2 (r)
60 Mortgages 6,360.0 (r) 6,473.1 (r) 6,643.5 (r)
61 Consumer credit 1,446.1 (r) 1,437.0 (r) 1,476.5 (r)
2000 2001
Transaction category
or sector
Q3 Q4 Q1 (r)
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 18,038.3 (r) 18,320.9 (r) 18,563.5
By sector and
instrument
2 Federal government 3,410.2 3,385.2 3,408.8
3 Treasury securities 3,382.6 3,357.8 3,382.1
4 Budget agency
securities and
mortgages 27.6 27.3 26.8
5 Nonfederal 14,628.1 (r) 14,935.7 (r) 15,154.7
By instrument
6 Commercial paper 307.0 278.4 253.2
7 Municipal securities
and loans 1,550.3 1,567.8 1,597.5
8 Corporate bonds 2,186.7 (r) 2,230.6 (r) 2,330.8
9 Bank loans n.e.c. 1,311.3 (r) 1,334.2 (r) 1,323.9
10 Other loans and
advances 1,039.5 (r) 1,077.1 (r) 1,083.4
11 Mortgages 6,713.9 (r) 6,854.5 (r) 6,980.6
12 Home 5,124.3 (r) 5,225.9 (r) 5,319.5
13 Multifamily
residential 376.7 (r) 387.2 (r) 397.0
14 Commercial 1,104.5 (r) 1,132.5 (r) 1,154.2
15 Farm 108.3 108.8 (r) 109.9
16 Consumer credit 1,519.6 (r) 1,593.1 (r) 1,585.3
By borrowing sector
17 Households 6,938.9 (r) 7,115.5 (r) 7,186.3
18 Nonfinancial business 6,426.2 (r) 6,540.9 (r) 6,660.9
19 Corporate 4,618.0 (r) 4,695.9 (r) 4,785.7
20 Nonfarm non-
corporate 1,630.3 (r) 1,664.8 (r) 1,695.5
21 Farm 177.9 180.2 (r) 179.7
22 State and local
government 1,263.1 1,279.3 1,307.5
23 Foreign credit market
debt held in
United States 731.0 (r) 746.7 (r) 743.4
24 Commercial paper 109.8 120.9 112.8
25 Bonds 502.4 (r) 504.6 (r) 508.9
26 Bank loans n.e.c. 67.7 70.7 73.9
27 Other loans and
advances 51.2 50.5 47.7
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 18,769.3 (r) 19,067.6 (r) 19,306.9
Financial sectors
29 Total credit market
debt owed by
financial sectors 8,190.8 (r) 8,457.1 (r) 8,657.3
By instrument
30 Federal government-
related 4,164.0 4,317.4 4,422.9
31 Government-sponsored
enterprise
securities 1,749.7 1,825.8 1,888.7
32 Mortgage pool
securities 2,414.3 2,491.6 2,534.2
33 Loans from U.S.
government .0 .0 .0
34 Private 4,026.7 (r) 4,139.7 (r) 4,234.4
35 Open market paper 1,151.6 1,210.7 1,180.8
36 Corporate bonds 2,269.7 (r) 2,314.8 (r) 2,424.3
37 Bank loans n.e.c. 92.8 (r) 93.0 (r) 97.3
38 Other loans and
advances 430.2 438.3 450.9
39 Mortgages 82.5 82.9 81.1
By borrowing sector
40 Commercial banks 265.2 266.7 273.8
41 Bank holding companies 236.9 242.5 266.5
42 Savings institutions 276.0 287.7 295.1
43 Credit unions 3.1 3.4 3.2
44 Life insurance
companies 2.7 2.5 1.9
45 Government-sponsored
enterprises 1,749.7 1,825.8 1,888.7
46 Federally related
mortgage pools 2,414.3 2,491.6 2,534.2
47 Issuers of asset-backed
securities (ABSs) 1,742.3 1,829.6 1,893.7
48 Brokers and dealers 42.6 40.9 35.0
49 Finance companies 761.8 (r) 776.9 (r) 756.2
50 Mortgage companies 17.7 17.9 18.1
51 Real estate investment
trusts (REITs) 169.8 167.8 166.2
52 Funding corporations 508.7 (r) 503.7 (r) 524.7
All sectors
53 Total credit market
debt, domestic and
foreign 26,960.1 (r) 27,524.7 (r) 27,964,2
54 Open market paper 1,568.3 1,610.0 1,546.8
55 U.S. government
securities 7,574.2 7,702.6 7,831.7
56 Municipal securities 1,550.3 1,567.8 1,597.5
57 Corporate and foreign
bonds 4,958.7 (r) 5,050.0 (r) 5,264.0
58 Bank loans n.e.c. 1,471.7 1,497.9 1,495.1
59 Other loans and
advances 1,520.9 (r) 1,565.9 (r) 1,582.0
60 Mortgages 6,796.4 (r) 6,937.4 (r) 7,061.7
61 Consumer credit 1,519.6 (r) 1,593.1 (r) 1,585.3
2001
Transaction category
or sector
Q2 (r) Q3
Nonfinancial
sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 18,746.8 19,054.8
By sector and
instrument
2 Federal government 3,251.4 3,320.1
3 Treasury securities 3,224.4 3,293.1
4 Budget agency
securities and
mortgages 27.0 27.0
5 Nonfederal 15,495.3 15,734.8
By instrument
6 Commercial paper 223.3 201.3
7 Municipal securities
and loans 1,629.8 1,635.3
8 Corporate bonds 2,437.8 2,484.7
9 Bank loans n.e.c. 1,292.9 1,282.9
10 Other loans and
advances 1,110.6 1,116.0
11 Mortgages 7,192.8 7,391.9
12 Home 5,477.9 5,623.1
13 Multifamily
residential 410.9 425.3
14 Commercial 1,190.9 1,228.9
15 Farm 113.1 114.6
16 Consumer credit 1,608.1 1,622.8
By borrowing sector
17 Households 7,362.9 7,531.7
18 Nonfinancial business 6,794.6 6,862.4
19 Corporate 4,881.5 4,922.8
20 Nonfarm non-
corporate 1,727.9 1,753.9
21 Farm 185.2 185.8
22 State and local
government 1,337.8 1,340.6
23 Foreign credit market
debt held in
United States 727.8 698.5
24 Commercial paper 110.1 106.3
25 Bonds 504.9 479.6
26 Bank loans n.e.c. 66.2 67.3
27 Other loans and
advances 46.6 45.3
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 19,474.6 19,753.3
Financial sectors
29 Total credit market
debt owed by
financial sectors 8,856.2 9,121.0
By instrument
30 Federal government-
related 4,591.6 4,796.8
31 Government-sponsored
enterprise
securities 1,955.8 2,037.8
32 Mortgage pool
securities 2,635.8 2,759.0
33 Loans from U.S.
government .0 .0
34 Private 4,264.6 4,324.3
35 Open market paper 1,144.5 1,110.2
36 Corporate bonds 2,483.9 2,563.8
37 Bank loans n.e.c. 100.4 100.0
38 Other loans and
advances 450.7 467.2
39 Mortgages 85.1 83.0
By borrowing sector
40 Commercial banks 274.7 283.0
41 Bank holding companies 269.0 273.8
42 Savings institutions 294.4 303.9
43 Credit unions 3.5 3.8
44 Life insurance
companies 1.9 2.8
45 Government-sponsored
enterprises 1,955.8 2,037.8
46 Federally related
mortgage pools 2,635.8 2,759.0
47 Issuers of asset-backed
securities (ABSs) 1,942.4 2,020.2
48 Brokers and dealers 43.9 47.0
49 Finance companies 769.0 771.3
50 Mortgage companies 18.2 18.5
51 Real estate investment
trusts (REITs) 168.9 166.3
52 Funding corporations 478.6 433.6
All sectors
53 Total credit market
debt, domestic and
foreign 28,330.8 28,874.3
54 Open market paper 1,477.9 1,417.8
55 U.S. government
securities 7,843.0 8,116.8
56 Municipal securities 1,629.8 1,635.3
57 Corporate and foreign
bonds 5,426.6 5,528.1
58 Bank loans n.e.c. 1,459.5 1,450.2
59 Other loans and
advances 1,607.9 1,628.5
60 Mortgages 7,277.9 7,474.9
61 Consumer credit 1,608.1 1,622.8
(1.) Data in this table 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
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market assets 19,812.1 (r) 21,311.1 (r)
2 Domestic nonfederal
nonfinancial sectors 3,011.5 (r) 2,946.5 (r)
3 Household 2,086.8 (r) 2,031.3 (r)
4 Nonfinancial corporate
business 270.2 257.5
5 Nonfarm noncorporate
business 49.7 52.7
6 State and local governments 604.8 605.0
7 Federal government 200.2 205.4
8 Rest of the world 1,926.6 2,257.3
9 Financial sectors 14,673.8 (r) 15,901.8 (r)
10 Monetary authority 393.1 431.4
11 Commercial banking 3,707.7 4,031.9
12 U.S.-chartered banks 3,175.8 3,450.7
13 Foreign banking offices in
United States 475.8 516.1
14 Bank holding companies 22.0 27.4
15 Banks in U.S.-affiliated
areas 34.1 37.8
16 Savings institutions 933.2 928.5
17 Credit unions 288.5 305.3
18 Bank personal trusts and
estates 232.0 207.0
19 Life insurance companies 1,657.0 1,751.1
20 Other insurance companies 491.2 515.3
21 Private pension funds 627.0 674.6
22 State and local government
retirement funds 565.4 632.5
23 Money market mutual funds 634.3 721.9
24 Mutual funds 820.2 901.1
25 Closed-end funds 100.8 98.3
26 Government-sponsored
enterprises 832.8 939.4
27 Federally related mortgage
pools 1,711.3 1,825.8
28 Asset-backed securities
(ABSs) issuers 773.9 937.7
29 Finance companies 545.1 (r) 568.2 (r)
30 Mortgage companies 41.2 32.1
31 Real estate investment
trusts (REITs) 30.4 50.6
32 Brokers and dealers 167.7 182.6
33 Funding corporations 121.0 166.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 19,812.1 (r) 21,311.1 (r)
Other liabilities
35 Official foreign exchange 53.7 48.9
36 Special drawing rights
certificates 9.7 9.2
37 Treasury currency 18.9 19.3
38 Foreign deposits 521.7 618.5
39 Net interbank liabilities 240.8 219.4
40 Checkable deposits and
currency 1,244.8 1,286.1
41 Small time and savings
deposits 2,377.0 2,474.1
42 Large time deposits 590.9 713.4
43 Money market fund shares 886.7 1,042.5
44 Security repurchase agreements 701.5 822.4
45 Mutual fund shares 2,342.4 2,989.4
46 Security credit 358.1 469.1
47 Life insurance reserves 610.6 665.0
48 Pension fund reserves 6,325.1 7,323.4
49 Trade payables 1,827.6 1,967.3
50 Taxes payable 128.8 151.1
51 Investment in bank personal
trusts 871.3 942.5
52 Miscellaneous 6,387.1 (r) 6,730.7 (r)
53 Total liabilities 45,308.7 (r) 49,803.3 (r)
Financial assets not included
in liabilities (+)
54 Gold and special drawing
rights 21.4 21.1
55 Corporate equities 10,281.6 (r) 13,301.7 (r)
56 Household equity in
noncorporate business 3,786.6 (r) 4,051.0 (r)
Liabilities not identified as
assets (-)
57 Treasury currency -6.1 -6.3
58 Foreign deposits 434.9 (r) 535.0 (r)
59 Net interbank transactions -10.6 -32.2
60 Security repurchase agreements 109.8 172.9
61 Taxes payable 81.9 104.2
62 Miscellaneous -1,226.5 (r) -1,548.9 (r)
Floats not included in
assets (-)
63 Federal government checkable
deposits -1.6 -8.1
65 Other checkable deposits 30.1 26.2
65 Trade credit 165.7 126.8
66 Totals identified to sectors
as assets 59,820.7 (r) 67,807.3 (r)
Transaction category or sector 1998 1999
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market assets 23,490.6 (r) 25,737.7 (r)
2 Domestic nonfederal
nonfinancial sectors 3,017.7 (r) 3,284.1 (r)
3 Household 1,967.7 (r) 2,184.5 (r)
4 Nonfinancial corporate
business 241.5 238.7
5 Nonfarm noncorporate
business 69.1 78.0
6 State and local governments 739.4 782.8
7 Federal government 219.1 258.0
8 Rest of the world 2,539.8 2,676.2
9 Financial sectors 17,714.0 (r) 19,519.4 (r)
10 Monetary authority 452.5 478.1
11 Commercial banking 4,335.7 4,643.9
12 U.S.-chartered banks 3,761.2 4,078.9
13 Foreign banking offices in
United States 504.2 484.1
14 Bank holding companies 26.5 32.7
15 Banks in U.S.-affiliated
areas 43.8 48.3
16 Savings institutions 964.6 1,033.2
17 Credit unions 324.2 351.7
18 Bank personal trusts and
estates 194.1 222.0
19 Life insurance companies 1,828.0 1,886.0
20 Other insurance companies 521.1 518.2
21 Private pension funds 731.0 775.9
22 State and local government
retirement funds 704.6 751.4
23 Money market mutual funds 965.9 1,147.8
24 Mutual funds 1,025.9 1,073.1
25 Closed-end funds 103.7 111.1
26 Government-sponsored
enterprises 1,253.9 1,545.6
27 Federally related mortgage
pools 2,018.4 2,292.2
28 Asset-backed securities
(ABSs) issuers 1,219.4 1,424.6
29 Finance companies 645.5 (r) 742.5 (r)
30 Mortgage companies 35.3 35.6
31 Real estate investment
trusts (REITs) 45.5 42.9
32 Brokers and dealers 189.4 154.7
33 Funding corporations 155.3 288.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 23,490.6 (r) 25,737.7 (r)
Other liabilities
35 Official foreign exchange 60.1 50.1
36 Special drawing rights
certificates 9.2 6.2
37 Treasury currency 19.9 20.9
38 Foreign deposits 642.3 703.6
39 Net interbank liabilities 189.0 204.5
40 Checkable deposits and
currency 1,333.4 1,484.8
41 Small time and savings
deposits 2,626.5 2,671.2
42 Large time deposits 805.5 936.1
43 Money market fund shares 1,329.7 1,578.8
44 Security repurchase agreements 913.7 1,083.4
45 Mutual fund shares 3,610.5 4,553.4
46 Security credit 572.3 676.6
47 Life insurance reserves 718.3 783.9
48 Pension fund reserves 8,193.7 9,041.7
49 Trade payables 2,076.5 2,298.8
50 Taxes payable 172.4 194.7
51 Investment in bank personal
trusts 1,001.0 1,130.4
52 Miscellaneous 7,692.9 (r) 8,269.8
53 Total liabilities 55,457.6 (r) 61,426.6 (r)
Financial assets not included
in liabilities (+)
54 Gold and special drawing
rights 21.6 21.4
55 Corporate equities 15,577.3 (r) 19,581.2 (r)
56 Household equity in
noncorporate business 4,394.1 (r) 4,623.6 (r)
Liabilities not identified as
assets (-)
57 Treasury currency -6.4 -7.1
58 Foreign deposits 542.8 (r) 588.9 (r)
59 Net interbank transactions -27.0 -25.5
60 Security repurchase agreements 233.5 263.6
61 Taxes payable 122.9 122.7
62 Miscellaneous -2,323.1 (r) -2,740.5 (r)
Floats not included in
assets (-)
63 Federal government checkable
deposits -3.9 -9.9
65 Other checkable deposits 23.1 22.3
65 Trade credit 76.6 120.9
66 Totals identified to sectors
as assets 76,812.0 (r) 87,317.3 (r)
2000
Transaction category or sector
Q1 Q2
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market assets 26,135.3 (r) 26,535.9 (r)
2 Domestic nonfederal
nonfinancial sectors 3,205.6 (r) 3,209.3 (r)
3 Household 2,114.4 (r) 2,089.7 (r)
4 Nonfinancial corporate
business 230.8 246.1 (r)
5 Nonfarm noncorporate
business 77.5 77.6
6 State and local governments 782.9 795.8
7 Federal government 259.6 261.6
8 Rest of the world 2,760.7 2,809.9
9 Financial sectors 19,909.4 (r) 20,255.2 (r)
10 Monetary authority 501.9 505.1
11 Commercial banking 4,725.0 4,847.4
12 U.S.-chartered banks 4,171.3 4,295.4
13 Foreign banking offices in
United States 482.0 478.1
14 Bank holding companies 22.1 23.0
15 Banks in U.S.-affiliated
areas 49.6 51.0
16 Savings institutions 1,045.8 1,062.5
17 Credit unions 359.0 370.1
18 Bank personal trusts and
estates 226.7 230.2
19 Life insurance companies 1,902.2 1,914.1
20 Other insurance companies 515.4 510.8
21 Private pension funds 787.6 793.8
22 State and local government
retirement funds 767.2 775.1
23 Money market mutual funds 1,217.1 1,159.4
24 Mutual funds 1,053.7 1,073.9
25 Closed-end funds 109.0 106.9
26 Government-sponsored
enterprises 1,584.0 1,649.2
27 Federally related mortgage
pools 2,322.1 2,355.2
28 Asset-backed securities
(ABSs) issuers 1,453.8 1,486.3
29 Finance companies 776.6 (r) 812.3 (r)
30 Mortgage companies 34.1 35.5
31 Real estate investment
trusts (REITs) 38.8 38.2
32 Brokers and dealers 194.8 (r) 188.2 (r)
33 Funding corporations 294.5 341.0 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 26,135.3 (r) 26,535.9 (r)
Other liabilities
35 Official foreign exchange 46.6 (r) 46.0 (r)
36 Special drawing rights
certificates 6.2 4.2
37 Treasury currency 21.4 22.1
38 Foreign deposits 781.9 782.8
39 Net interbank liabilities 169.7 210.6
40 Checkable deposits and
currency 1,392.9 1,409.7
41 Small time and savings
deposits 2,728.0 2,738.8
42 Large time deposits 966.5 987.4
43 Money market fund shares 1,666.0 1,627.1
44 Security repurchase agreements 1,149.4 (r) 1,185.2 (r)
45 Mutual fund shares 4,863.3 4,759.6
46 Security credit 801.1 (r) 780.3 (r)
47 Life insurance reserves 801.0 806.5
48 Pension fund reserves 9,237.9 9,166.7
49 Trade payables 2,321.7 2,371.6 (r)
50 Taxes payable 210.1 211.4 (r)
51 Investment in bank personal
trusts 1,158.0 1,114.4
52 Miscellaneous 8,464.3 (r) 8,731.9 (r)
53 Total liabilities 62,921.3 (r) 63,492.5 (r)
Financial assets not included
in liabilities (+)
54 Gold and special drawing
rights 21.4 21.5
55 Corporate equities 20,276.3 (r) 19,395.9 (r)
56 Household equity in
noncorporate business 4,652.1 (r) 4,745.9 (r)
Liabilities not identified as
assets (-)
57 Treasury currency -7.6 -7.9
58 Foreign deposits 654.7 (r) 634.2 (r)
59 Net interbank transactions -13.9 -11.6
60 Security repurchase agreements 410.5 (r) 423.0 (r)
61 Taxes payable 118.7 (r) 134.5 (r)
62 Miscellaneous -2,908.3 (r) -2,939.4 (r)
Floats not included in
assets (-)
63 Federal government checkable
deposits -9.2 (r) -5.6 (r)
65 Other checkable deposits 18.7 22.5
65 Trade credit 50.2 (r) 16.5 (r)
66 Totals identified to sectors
as assets 89,557.3 (r) 89,389.6 (r)
2000
Transaction category or sector
Q3 Q4
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market assets 26,960.1 (r) 27,524.7 (r)
2 Domestic nonfederal
nonfinancial sectors 3,144.7 (r) 3,094.4 (r)
3 Household 2,040.3 (r) 1,977.4 (r)
4 Nonfinancial corporate
business 239.0 (r) 249.1 (r)
5 Nonfarm noncorporate
business 76.6 75.9
6 State and local governments 788.7 792.0
7 Federal government 262.7 265.4
8 Rest of the world 2,861.7 3,004.6
9 Financial sectors 20,691.0 (r) 21,160.3 (r)
10 Monetary authority 511.5 511.8
11 Commercial banking 4,931.0 5,002.3
12 U.S.-chartered banks 4,368.2 4,418.7
13 Foreign banking offices in
United States 487.5 508.1
14 Bank holding companies 21.3 20.5
15 Banks in U.S.-affiliated
areas 54.0 55.0
16 Savings institutions 1,082.2 1,089.7
17 Credit unions 376.0 382.2
18 Bank personal trusts and
estates 234.6 239.1
19 Life insurance companies 1,935.1 1,943.9
20 Other insurance companies 512.4 509.4
21 Private pension funds 810.0 817.2
22 State and local government
retirement funds 784.5 806.0 (r)
23 Money market mutual funds 1,212.5 1,296.7
24 Mutual funds 1,088.5 1,099.9
25 Closed-end funds 104.8 102.7
26 Government-sponsored
enterprises 1,704.3 1,793.7
27 Federally related mortgage
pools 2,414.3 2,491.6
28 Asset-backed securities
(ABSs) issuers 1,522.9 1,602.9
29 Finance companies 830.0 (r) 850.5 (r)
30 Mortgage companies 35.4 35.9
31 Real estate investment
trusts (REITs) 37.3 36.6
32 Brokers and dealers 243.3 223.6
33 Funding corporations 320.4 (r) 324.7 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 26,960.1 (r) 27,524.7 (r)
Other liabilities
35 Official foreign exchange 44.9 46.1 (r)
36 Special drawing rights
certificates 3.2 2.2
37 Treasury currency 23.2 23.2
38 Foreign deposits 772.6 824.5
39 Net interbank liabilities 173.2 188.0
40 Checkable deposits and
currency 1,385.7 1,413.3
41 Small time and savings
deposits 2,790.9 2,861.9
42 Large time deposits 1,025.9 1,054.5
43 Money market fund shares 1,697.8 1,812.1
44 Security repurchase agreements 1,238.6 (r) 1,194.1 (r)
45 Mutual fund shares 4,814.4 4,457.2
46 Security credit 805.8 (r) 822.7 (r)
47 Life insurance reserves 818.7 819.1
48 Pension fund reserves 9,307.9 9,054.8
49 Trade payables 2,418.2 (r) 2,464.9 (r)
50 Taxes payable 214.7 (r) 216.4
51 Investment in bank personal
trusts 1,106.7 1,019.4
52 Miscellaneous 9,221.0 (r) 9,104.9 (r)
53 Total liabilities 64,823.6 (r) 64,903.9 (r)
Financial assets not included
in liabilities (+)
54 Gold and special drawing
rights 21.4 21.6 (r)
55 Corporate equities 19,249.0 (r) 17,566.4 (r)
56 Household equity in
noncorporate business 4,782.7 (r) 4,850.2 (r)
Liabilities not identified as
assets (-)
57 Treasury currency -7.6 -8.5
58 Foreign deposits 609.1 (r) 659.3 (r)
59 Net interbank transactions -17.6 -4.3
60 Security repurchase agreements 446.0 374.6 (r)
61 Taxes payable 124.4 128.4 (r)
62 Miscellaneous -2,727.8 (r) -3,224.6 (r)
Floats not included in
assets (-)
63 Federal government checkable
deposits -7.8 -2.3 (r)
65 Other checkable deposits 15.5 24.0
65 Trade credit 6.0 (r) 91.6 (r)
66 Totals identified to sectors
as assets 90,436.5 (r) 89,303.8 (r)
2001
Transaction category or sector
Q1 Q2 (r) Q3
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market assets 27,964.2 (r) 28,330.8 28,874.3
2 Domestic nonfederal
nonfinancial sectors 3,021.4 (r) 2,964.3 2,914.0
3 Household 1,928.0 (r) 1,869.6 1,832.7
4 Nonfinancial corporate
business 226.3 (r) 232.1 231.1
5 Nonfarm noncorporate
business 74.7 73.4 71.9
6 State and local governments 792.4 789.1 778.3
7 Federal government 266.6 267.6 267.8
8 Rest of the world 3,113.0 (r) 3,200.4 3,293.2
9 Financial sectors 21,563.2 (r) 21,898.6 22,399.3
10 Monetary authority 523.9 535.1 534.1
11 Commercial banking 5,015.7 5,044.4 5,096.5
12 U.S.-chartered banks 4,424.4 4,463.2 4,508.8
13 Foreign banking offices in
United States 515.0 504.2 509.9
14 Bank holding companies 22.3 21.6 21.3
15 Banks in U.S.-affiliated
areas 54.1 55.5 56.5
16 Savings institutions 1,101.6 1,116.4 1,119.0
17 Credit unions 386.5 (r) 391.8 407.8
18 Bank personal trusts and
estates 241.8 245.1 247.3
19 Life insurance companies 1,967.2 1,996.9 2,040.0
20 Other insurance companies 510.0 510.0 512.3
21 Private pension funds 823.7 822.0 821.7
22 State and local government
retirement funds 788.3 (r) 801.7 806.3
23 Money market mutual funds 1,403.8 1,414.6 1,498.0
24 Mutual funds 1,113.8 1,160.1 1,193.0
25 Closed-end funds 100.6 98.5 96.4
26 Government-sponsored
enterprises 1,864.7 (r) 1,941.1 2,009.5
27 Federally related mortgage
pools 2,534.2 2,635.8 2,759.0
28 Asset-backed securities
(ABSs) issuers 1,660.5 1,703.7 1,774.7
29 Finance companies 848.0 (r) 878.5 859.4
30 Mortgage companies 36.2 36.5 36.9
31 Real estate investment
trusts (REITs) 37.6 37.9 39.8
32 Brokers and dealers 312.3 (r) 288.4 369.9
33 Funding corporations 292.7 (r) 240.1 177.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 27,964.2 (r) 28,330.8 28,874.3
Other liabilities
35 Official foreign exchange 42.8 (r) 43.4 49.0
36 Special drawing rights
certificates 2.2 2.2 2.2
37 Treasury currency 22.9 23.2 23.2
38 Foreign deposits 883.4 846.8 850.6
39 Net interbank liabilities 155.1 (r) 163.1 176.8
40 Checkable deposits and
currency 1,385.2 1,416.8 1,453.0
41 Small time and savings
deposits 2,965.3 2,992.3 3,047.1
42 Large time deposits 1,078.0 1,087.1 1,090.4
43 Money market fund shares 1,994.7 2,014.8 2,116.1
44 Security repurchase agreements 1,199.7 (r) 1,240.5 1,287.8
45 Mutual fund shares 3,999.8 4,275.3 3,705.2
46 Security credit 785.4 (r) 781.5 904.6
47 Life insurance reserves 823.0 840.3 841.5
48 Pension fund reserves 8,588.9 (r) 8,849.7 8,281.0
49 Trade payables 2,436.3 (r) 2,406.9 2,412.2
50 Taxes payable 224.8 (r) 224.0 254.9
51 Investment in bank personal
trusts 929.1 964.4 859.6
52 Miscellaneous 9,536.4 (r) 9,763.7 10,222.5
53 Total liabilities 65,017.3 (r) 66,266.6 66,452.1
Financial assets not included
in liabilities (+)
54 Gold and special drawing
rights 21.4 (r) 21.5 22.0
55 Corporate equities 15,311.6 (r) 16,239.1 13,625.2
56 Household equity in
noncorporate business 4,882.4 (r) 4,893.8 4,897.1
Liabilities not identified as
assets (-)
57 Treasury currency -9.4 -9.5 -9.7
58 Foreign deposits 704.6 (r) 674.3 680.5
59 Net interbank transactions 1.7 5.5 6.3
60 Security repurchase agreements 353.7 (r) 396.2 394.1
61 Taxes payable 113.3 (r) 133.2 152.1
62 Miscellaneous -3,066.2 (r) -3,040.8 -2,760.7
Floats not included in
assets (-)
63 Federal government checkable
deposits -22.3 (r) -40.1 -38.4
65 Other checkable deposits 21.1 25.5 19.2
65 Trade credit 38.4 (r) 21.8 35.7
66 Totals identified to sectors
as assets 87,097.8 (r) 89,254.8 86,517.1
(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.
Selected Measures
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100,
except as noted
Measure 1998 1999 2000
1 Industrial production (1) 134.5 139.4 145.7
Market groups
2 Products, total 126.8 129.6 133.5
3 Final, total 128.9 131.8 135.8
4 Consumer goods 118.3 119.9 121.9
5 Equipment 148.1 153.5 161.8
6 Intermediate 120.2 123.2 126.4
7 Materials 146.9 155.6 166.4
Industry groups
8 Manufacturing 138.8 144.7 151.6
9 Capacity utilization,
manufacturing (percent) (2) 81.4 80.6 80.7
10 Construction contracts (3) 122.7 (r) 135.2 142.3 (r)
11 Nonagricultural employment,
total (4) 115.9 118.6 121.0
12 Goods-producing, total 109.4 109.7 110.5
13 Manufacturing, total 103.9 102.4 101.8
14 Manufacturing, production
workers 105.4 103.7 102.9
15 Service-producing 117.7 121.0 123.9
16 Personal income, total 137.8 144.3 154.3
17 Wages and salary disbursements 140.6 149.9 162.2
18 Manufacturing 129.7 134.0 142.3
19 Disposable personal income (5) 133.7 139.2 147.9
20 Retail sales (5) 142.8 155.1 167.0
Prices (6)
21 Consumer (1982-84=100) 163.0 166.6 172.2
22 Producer finished goods
(1982=100) 130.7 133.0 138.0
2001
Measure
Mar. Apr. May
1 Industrial production (1) 142.9 142.0 141.6
Market groups
2 Products, total 132.1 131.0 130.9
3 Final, total 135.1 134.0 133.9
4 Consumer goods 121.8 121.3 121.4
5 Equipment 159.6 157.3 156.5
6 Intermediate 123.4 122.2 122.2
7 Materials 160.9 160.3 159.4
Industry groups
8 Manufacturing 147.9 146.7 146.4
9 Capacity utilization,
manufacturing (percent) (2) 76.7 76.0 75.8
10 Construction contracts (3) 141.0 144.0 149.0 (r)
11 Nonagricultural employment,
total (4) 122.2 122.0 122.0
12 Goods-producing, total 110.2 109.4 109.0
13 Manufacturing, total 100.1 99.5 98.7
14 Manufacturing, production
workers 99.7 99.0 98.2
15 Service-producing 125.4 125.4 125.6
16 Personal income, total 161.0 161.3 161.6
17 Wages and salary disbursements 170.1 170.8 170.7
18 Manufacturing 146.3 146.8 145.4
19 Disposable personal income (5) 154.1 154.5 154.8
20 Retail sales (5) 169.6 172.2 172.4
Prices (6)
21 Consumer (1982-84=100) 176.2 176.9 177.7
22 Producer finished goods
(1982=100) 140.9 141.8 142.7
2001
Measure
June July Aug.
1 Industrial production (1) 140.3 140.4 140.0 (r)
Market groups
2 Products, total 130.0 130.3 129.4 (r)
3 Final, total 132.9 133.2 132.0 (r)
4 Consumer goods 121.1 122.2 121.4 (r)
5 Equipment 154.1 152.7 150.5 (r)
6 Intermediate 121.4 121.4 121.6 (r)
7 Materials 157.4 157.2 157.6 (r)
Industry groups
8 Manufacturing 145.0 145.2 144.5 (r)
9 Capacity utilization,
manufacturing (percent) (2) 75.0 75.1 74.6
10 Construction contracts (3) 151.0 143.0 143.0 (r)
11 Nonagricultural employment,
total (4) 122.0 122.0 121.9
12 Goods-producing, total 108.4 108.1 107.5
13 Manufacturing, total 98.1 97.7 96.8
14 Manufacturing, production
workers 97.3 96.8 95.9
15 Service-producing 125.6 125.7 125.9
16 Personal income, total 162.1 162.7 162.8
17 Wages and salary disbursements 171.5 171.8 171.8
18 Manufacturing 144.9 144.9 144.1
19 Disposable personal income (5) 155.2 157.9 (r) 161.0
20 Retail sales (5) 172.3 172.6 172.9
Prices (6)
21 Consumer (1982-84=100) 178.0 177.5 177.5
22 Producer finished goods
(1982=100) 142.2 140.5 (r) 141.1
2001
Measure
Sept. Oct. Nov.
(r) (r) (r)
1 Industrial production (1) 138.8 137.6 137.1
Market groups
2 Products, total 128.1 126.7 126.5
3 Final, total 130.4 129.1 129.2
4 Consumer goods 120.6 119.6 120.1
5 Equipment 147.3 145.1 144.1
6 Intermediate 120.9 119.5 118.7
7 Materials 156.8 155.7 154.8
Industry groups
8 Manufacturing 143.2 142.0 141.7
9 Capacity utilization,
manufacturing (percent) (2) 73.9 73.2 73.0
10 Construction contracts (3) 152.0 148.0 144.0
11 Nonagricultural employment,
total (4) 121.8 121.3 121.0
12 Goods-producing, total 107.1 106.5 105.8
13 Manufacturing, total 96.4 95.7 94.8
14 Manufacturing, production
workers 95.3 94.6 93.6
15 Service-producing 125.8 125.4 125.2
16 Personal income, total 162.7 162.5 162.4
17 Wages and salary disbursements 171.7 171.3 171.3
18 Manufacturing 143.4 142.0 140.8
19 Disposable personal income (5) 159.1 156.3 156.2
20 Retail sales (5) 169.2 181.0 173.6
Prices (6)
21 Consumer (1982-84=100) 178.3 177.7 177.4
22 Producer finished goods
(1982=100) 141.7 139.6 138.4
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in November 2001. The recent
annual revision will be described in an article in an upcoming 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
2001
Category
1998 1999 2000 Apr.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 137,673 139,368 140,863 141,757
Employment
2 Nonagricultural
industries (3) 128,085 130,207 131,903 132,162
3 Agriculture 3,378 3,281 3,305 3,192
Unemployment
4 Number 6,210 5,880 5,655 6,402
5 Rate (percent of civilian
labor force) 4.5 4.2 4.0 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 125,865 128,786 131,417 132,489
7 Manufacturing 18,805 18,543 18,437 18,009
8 Mining 590 535 538 560
9 Contract construction 6,020 6,404 6,687 6,852
10 Transportation and public
utilities 6,611 6,826 6,993 7,119
11 Trade 29,095 29,712 30,191 30,583
12 Finance 7,389 7,569 7,618 7,626
13 Service 37,533 39,027 40,384 40,993
14 Government 19,823 20,170 20,570 20,747
2001
Category
May June July Aug.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,272 141,354 141,774 141,350
Employment
2 Nonagricultural
industries (3) 131,910 131,937 132,334 131,276
3 Agriculture 3,193 2,995 3,045 3,117
Unemployment
4 Number 6,169 6,422 6,395 6,957
5 Rate (percent of civilian
labor force) 4.4 4.5 4.5 4.9
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,530 132,431 132,449 132,395
7 Manufacturing 17,879 17,757 17,688 17,533
8 Mining 564 565 567 569
9 Contract construction 6,881 6,864 6,867 6,861
10 Transportation and public
utilities 7,130 7,118 7,108 7,082
11 Trade 30,584 30,583 30,623 30,593
12 Finance 7,644 7,631 7,618 7,623
13 Service 41,078 41,085 41,046 41,129
14 Government 20,770 20,828 20,932 21,005
2001
Category
Sept. (r) Oct. (r) Nov.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 142,190 142,303 142,244
Employment
2 Nonagricultural
industries (3) 131,961 131,362 130,975
3 Agriculture 3,220 3,200 3,109
Unemployment
4 Number 7,009 7,741 8,160
5 Rate (percent of civilian
labor force) 4.9 5.4 5.7
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,230 131,762 131,431
7 Manufacturing 17,448 17,324 17,161
8 Mining 569 569 567
9 Contract construction 6,871 6,854 6,852
10 Transportation and public
utilities 7,070 7,017 6,959
11 Trade 30,524 30,388 30,349
12 Finance 7,633 7,627 7,636
13 Service 41,134 40,983 40,913
14 Government 20,981 21,000 20,994
(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 2001
Series
Q4 Q1 Q2 Q3 (r)
Output (1992=100)
1 Total industry 145.7 143.5 141.3 139.7
2 Manufacturing 151.1 148.4 146.0 144.3
3 Primary processing (3) 177.2 172.0 168.9 167.2
4 Advanced processing (4) 136.7 135.3 133.3 131.6
5 Durable goods 189.7 185.0 181.9 178.4
6 Lumber and products 114.1 110.2 113.2 115.7
7 Primary metals 126.5 120.8 120.5 117.6
8 Iron and steel 119.6 113.7 117.3 115.9
9 Nonferrous 134.9 129.5 124.6 120.0
10 Industrial machinery and
equipment 229.1 226.9 217.0 208.9
11 Electrical machinery 566.8 544.2 509.2 485.8
12 Motor vehicles and parts 165.7 155.2 166.8 169.5
13 Aerospace and miscellaneous
transportation equipment 100.1 100.2 99.0 95.9
14 Nondurable goods 114.2 113.2 111.5 111.1
15 Textile mill products 92.4 91.4 88.0 85.4
16 Paper and products 112.6 109.2 108.9 108.4
17 Chemicals and products 122.7 121.6 119.6 121.2
18 Plastics materials 115.7 121.0 116.4 117.4
19 Petroleum products 115.1 114.8 115.5 113.2
20 Mining 101.1 102.0 102.9 101.8
21 Utilities 124.6 123.5 120.0 119.5
22 Electric 126.2 125.6 123.6 122.6
2000 2001
Series
Q4 Q1 Q2 Q3
Capacity (percent
of 1992 output)
1 Total industry 180.6 181.8 182.6 183.2
2 Manufacturing 191.0 192.3 193.2 193.6
3 Primary processing (3) 218.6 221.4 223.0 223.8
4 Advanced processing (4) 175.6 176.2 176.6 176.9
5 Durable goods 241.3 244.4 246.3 247.5
6 Lumber and products 147.6 148.2 148.5 148.8
7 Primary metals 151.2 151.0 150.8 150.6
8 Iron and steel 148.4 147.9 147.4 146.8
9 Nonferrous 155.0 155.1 155.3 155.6
10 Industrial machinery and
equipment 292.2 295.3 297.3 298.8
11 Electrical machinery 684.9 716.8 735.6 745.4
12 Motor vehicles and parts 217.2 218.7 220.1 221.5
13 Aerospace and miscellaneous
transportation equipment 135.4 135.4 135.3 135.2
14 Nondurable goods 143.1 143.1 143.0 142.9
15 Textile mill products 119.4 118.4 117.4 116.4
16 Paper and products 138.2 138.5 138.7 138.8
17 Chemicals and products 157.9 158.1 158.3 158.5
18 Plastics materials 151.5 152.0 152.5 153.0
19 Petroleum products 121.9 122.0 122.2 122.4
20 Mining 111.9 111.9 112.0 112.2
21 Utilities 133.1 134.6 136.2 138.1
22 Electric 131.3 133.1 135.1 137.4
2000 2001
Series
Q4 Q1 Q2 Q3 (r)
Capacity utilization
rate (percent) (2)
1 Total industry 80.7 78.9 77.4 76.3
2 Manufacturing 79.1 77.2 75.6 74.5
3 Primary processing (3) 81.1 77.7 75.8 74.7
4 Advanced processing (4) 77.9 76.8 75.5 74.4
5 Durable goods 78.6 75.7 73.8 72.1
6 Lumber and products 77.3 74.4 76.2 77.7
7 Primary metals 83.6 80.0 79.9 78.1
8 Iron and steel 80.6 76.9 79.6 78.9
9 Nonferrous 87.0 83.5 80.2 77.1
10 Industrial machinery and
equipment 78.4 76.8 73.0 69.9
11 Electrical machinery 82.8 75.9 69.2 65.2
12 Motor vehicles and parts 76.3 71.0 75.8 76.5
13 Aerospace and miscellaneous
transportation equipment 74.0 74.0 73.2 71.0
14 Nondurable goods 79.8 79.1 77.9 77.7
15 Textile mill products 77.4 77.2 74.9 73.4
16 Paper and products 81.5 78.9 78.5 78.1
17 Chemicals and products 77.7 76.9 75.6 76.5
18 Plastics materials 76.4 79.6 76.3 76.7
19 Petroleum products 94.5 94.1 94.5 92.5
20 Mining 90.3 91.1 91.8 90.7
21 Utilities 93.6 91.8 88.1 86.5
22 Electric 96.1 94.4 91.5 89.2
1973 1975 Previous
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) 91.8 67.3 88.6 65.7
4 Advanced processing (4) 86.5 72.5 86.3 71.0
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 2000 2001
cycle (6)
Series
High Low Nov. June
Capacity utilization
rate (percent) (2)
1 Total industry 85.4 78.1 80.7 76.7
2 Manufacturing 85.7 76.6 79.2 75.0
3 Primary processing (3) 88.3 76.7 81.0 74.9
4 Advanced processing (4) 84.2 76.6 78.0 75.0
5 Durable goods 84.6 73.1 78.6 73.0
6 Lumber and products 93.6 75.5 77.5 76.8
7 Primary metals 92.7 73.7 83.2 79.3
8 Iron and steel 95.2 71.8 80.4 79.9
9 Nonferrous 89.3 74.2 86.2 78.5
10 Industrial machinery and
equipment 85.4 72.3 78.3 71.8
11 Electrical machinery 84.0 75.0 82.6 67.3
12 Motor vehicles and parts 89.1 55.9 75.9 76.0
13 Aerospace and miscellaneous
transportation equipment 87.3 79.2 74.4 72.7
14 Nondurable goods 87.3 80.7 80.0 77.7
15 Textile mill products 90.4 77.7 77.3 74.1
16 Paper and products 93.5 85.0 81.7 77.2
17 Chemicals and products 86.2 79.3 78.2 75.5
18 Plastics materials 97.0 74.8 77.5 76.3
19 Petroleum products 88.5 85.1 95.1 94.5
20 Mining 88.0 87.0 90.4 91.4
21 Utilities 92.6 83.4 93.3 87.0
22 Electric 95.0 87.1 96.1 90.4
2001
Series
July Aug. Sept. Oct. Nov.
(r) (r) (r) (p)
Capacity utilization
rate (percent) (2)
1 Total industry 76.7 76.4 75.7 75.0 74.7
2 Manufacturing 75.1 74.6 73.9 73.2 73.0
3 Primary processing (3) 74.9 74.8 74.5 73.8 73.3
4 Advanced processing (4) 75.1 74.5 73.5 72.8 72.8
5 Durable goods 72.8 72.3 71.2 70.0 69.8
6 Lumber and products 76.6 78.1 78.5 76.3 76.6
7 Primary metals 79.3 78.0 76.9 75.8 73.6
8 Iron and steel 80.8 78.8 77.2 76.4 74.0
9 Nonferrous 77.7 77.1 76.6 75.3 73.0
10 Industrial machinery and
equipment 70.5 70.6 68.7 67.6 67.2
11 Electrical machinery 65.4 65.1 65.0 64.6 63.8
12 Motor vehicles and parts 79.0 76.7 74.0 70.7 75.1
13 Aerospace and miscellaneous
transportation equipment 71.8 70.8 70.3 69.5 67.5
14 Nondurable goods 78.0 77.7 77.5 77.4 77.2
15 Textile mill products 72.2 73.7 74.3 72.9 73.4
16 Paper and products 77.9 77.6 78.8 77.7 77.0
17 Chemicals and products 76.5 76.5 76.5 76.7 77.0
18 Plastics materials 76.9 77.6 75.8 75.6 75.0
19 Petroleum products 93.6 92.2 91.6 93.6 91.7
20 Mining 90.9 90.4 90.9 89.0 89.2
21 Utilities 86.0 87.7 85.9 85.2 83.1
22 Electric 88.5 90.6 88.4 88.6 86.9
(1.) Data in this table also appear in the Board's G.17 (419)
monthly statistical release. The data are also available on the
Board's web site, http://www.federalreserve.gov/releases/g17. The
latest historical revision of the industrial production index and
the capacity utilization rates was released in November 2001. The
recent annual revision will be described in an article in an upcoming
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
manufacturing.
(5.) Monthly highs, 1978-80; monthly lows, 1982.
(6.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
1992
Group SIC pro- 2000
code por- avg.
(2) tion
MAJOR MARKETS
1 Total index 100.0 145.7
2 Products 60.5 133.5
3 Final products 46.3 135.8
4 Consumer goods, total 29.1 121.9
5 Durable consumer
goods 6.1 161.2
6 Automotive products 2.6 157.0
7 Autos and trucks 1.7 169.8
8 Autos, consumer .9 104.4
9 Trucks,
consumer .7 239.5
10 Auto parts and
allied goods .9 137.2
11 Other 3.5 164.6
12 Appliances,
televisions,
and air
conditioners 1.0 304.9
13 Carpeting and
furniture .8 128.8
14 Miscellaneous
home goods 1.6 125.0
15 Nondurable consumer
goods 23.0 112.7
16 Foods and tobacco 10.3 109.4
17 Clothing 2.4 86.4
18 Chemical products 4.5 134.8
19 Paper products 2.9 106.3
20 Energy 2.9 117.0
21 Fuels .8 112.9
22 Residential
utilities 2.1 118.7
23 Equipment 17.2 161.8
24 Business equipment 13.2 188.9
25 Information
processing 5.4 290.8
26 Computer and office
equipment 1.1 914.2
27 Industrial 4.0 138.3
28 Transit 2.5 143.4
29 Autos and trucks 1.2 170.1
30 Other 1.3 143.2
31 Defense and space
equipment 3.3 74.4
32 Oil and gas well
drilling .6 132.0
33 Manufactured homes .2 120.6
34 Intermediate products,
total 14.2 126.4
35 Construction supplies 5.3 141.5
36 Business supplies 8.9 117.5
37 Materials 39.5 166.4
38 Durable goods materials 20.8 225.4
39 Durable consumer parts 4.0 167.2
40 Equipment parts 7.6 459.6
41 Other 9.2 134.7
42 Basic metal materials 3.1 127.7
43 Nondurable goods
materials 8.9 113.0
44 Textile materials 1.1 106.3
45 Paper materials 1.8 115.6
46 Chemical materials 3.9 113.4
47 Other 2.1 112.8
48 Energy materials 9.7 104.6
49 Primary energy 6.3 98.9
50 Converted fuel
materials 3.3 116.2
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 97.1 145.1
52 Total excluding motor
vehicles and parts 95.1 144.2
53 Total excluding computer
and office equipment 98.2 139.8
54 Consumer goods excluding
autos and trucks 27.4 119.3
55 Consumer goods excluding
energy 26.2 122.5
56 Business equipment exclu-
ding autos and trucks 12.0 191.2
57 Business equipment
excluding computer and
office equipment 12.1 159.6
58 Materials excluding energy 29.8 187.2
MAJOR INDUSTRIES
59 Total index ... 100.0 145.7
60 Manufacturing ... 85.4 151.6
61 Primary processing ... 26.5 178.2
62 Advanced processing ... 58.9 136.9
63 Durable goods ... 45.0 190.0
64 Lumber and products 24 2.0 118.8
65 Furniture and fixtures 25 1.4 146.3
66 Stone, clay, and glass
products 32 2.1 133.9
67 Primary metals 33 3.1 131.9
68 Iron and steel 331,2 1.7 127.3
69 Raw steel 331PT .1 117.9
70 Nonferrous 333-6,9 1.4 137.7
71 Fabricated metal
products 34 5.0 137.2
72 Industrial machinery
and equipment 35 8.0 227.1
73 Computer and office
equipment 357 1.8 1,070.0
74 Electrical machinery 36 7.3 536.6
75 Transportation
equipment 37 9.5 137.1
76 Motor vehicles and
parts 371 4.9 177.6
77 Autos and light
trucks 371PT 2.6 164.6
78 Aerospace and
miscellaneous
transportation
equipment 372-6,9 4.6 99.1
79 Instruments 38 5.4 118.6
80 Miscellaneous 39 1.3 124.9
81 Nondurable goods ... 40.4 114.8
82 Foods 20 9.4 113.8
83 Tobacco products 21 1.6 93.0
84 Textile mill products 22 1.8 98.9
85 Apparel products 23 2.2 101.9
86 Paper and products 26 3.6 113.9
87 Printing and publishing 27 6.7 106.9
88 Chemicals and products 28 9.9 122.0
89 Petroleum products 29 1.4 115.0
90 Rubber and plastics 30 3.5 144.9
91 Leather and products 31 .3 71.4
92 Mining ... 6.9 100.7
93 Metal 10 .5 97.2
94 Coal 12 1.0 107.1
95 Oil and gas extraction 13 4.8 95.6
96 Stone and earth minerals 14 .6 130.4
97 Utilities ... 7.7 120.7
98 Electric 491,3PT 6.2 123.3
99 Gas 492,3PT 1.6 109.9
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts ... 80.5 150.1
101 Manufacturing excluding
computers and office
equipment ... 83.6 144.6
102 Computers, communications
equipment, and
semiconductors ... 5.9 1,101.2
103 Manufacturing excluding
computers and
semiconductors ... 81.1 127.2
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors ... 79.5 123.9
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 2,001.9 2,821.5
106 Final ... 1,552.1 2,176.4
107 Consumer goods ... 1,049.6 1,323.8
108 Equipment ... 502.5 859.5
109 Intermediate ... 449.9 645.2
2000 2001
Group Nov. Dec. Jan.
Index (1992=100)
MAJOR MARKETS
1 Total index 145.8 145.1 143.9
2 Products 133.8 133.6 132.7
3 Final products 136.3 136.3 135.2
4 Consumer goods, total 122.1 122.5 121.0
5 Durable consumer
goods 154.7 153.2 147.3
6 Automotive products 148.2 145.3 138.5
7 Autos and trucks 157.6 150.2 142.2
8 Autos, consumer 96.0 89.3 93.4
9 Trucks,
consumer 223.4 215.1 194.4
10 Auto parts and
allied goods 133.7 138.2 133.3
11 Other 160.6 160.9 155.9
12 Appliances,
televisions,
and air
conditioners 300.8 306.4 289.5
13 Carpeting and
furniture 123.4 125.5 119.8
14 Miscellaneous
home goods 122.5 120.5 119.5
15 Nondurable consumer
goods 114.3 115.1 114.5
16 Foods and tobacco 109.3 110.3 109.4
17 Clothing 83.8 82.2 83.0
18 Chemical products 140.9 140.1 139.4
19 Paper products 107.5 107.9 109.2
20 Energy 121.9 125.8 124.0
21 Fuels 115.4 112.3 112.9
22 Residential
utilities 125.1 133.2 130.0
23 Equipment 163.0 162.0 161.8
24 Business equipment 190.6 189.3 188.7
25 Information
processing 302.1 303.4 304.1
26 Computer and office
equipment 1001.7 1,012.9 1,017.4
27 Industrial 138.1 135.9 137.2
28 Transit 138.5 134.0 131.0
29 Autos and trucks 155.5 145.9 140.0
30 Other 144.3 148.5 145.4
31 Defense and space
equipment 74.8 75.2 75.5
32 Oil and gas well
drilling 139.0 139.9 146.7
33 Manufactured homes 95.8 86.0 79.6
34 Intermediate products,
total 126.2 125.3 125.0
35 Construction supplies 140.3 139.5 138.8
36 Business supplies 117.8 116.9 116.9
37 Materials 166.0 164.5 162.8
38 Durable goods materials 225.4 223.9 220.3
39 Durable consumer parts 160.0 157.6 149.0
40 Equipment parts 483.4 482.4 474.0
41 Other 130.8 129.8 130.3
42 Basic metal materials 122.7 123.5 121.4
43 Nondurable goods
materials 109.6 107.1 108.4
44 Textile materials 98.0 95.0 99.3
45 Paper materials 113.3 109.7 112.2
46 Chemical materials 110.1 106.3 107.8
47 Other 111.1 112.7 110.5
48 Energy materials 106.0 105.8 104.3
49 Primary energy 99.5 99.5 99.4
50 Converted fuel
materials 119.8 118.9 113.6
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 145.6 145.2 144.1
52 Total excluding motor
vehicles and parts 144.9 144.6 144.0
53 Total excluding computer
and office equipment 139.6 139.0 137.8
54 Consumer goods excluding
autos and trucks 120.2 121.2 120.0
55 Consumer goods excluding
energy 122.0 122.0 120.5
56 Business equipment exclu-
ding autos and trucks 195.1 194.9 195.0
57 Business equipment
excluding computer and
office equipment 159.5 158.0 157.4
58 Materials excluding energy 185.9 183.9 182.2
MAJOR INDUSTRIES
59 Total index 145.8 145.1 143.9
60 Manufacturing 151.2 150.1 148.9
61 Primary processing 177.1 174.8 172.9
62 Advanced processing 136.9 136.4 135.5
63 Durable goods 189.6 188.5 185.6
64 Lumber and products 114.4 112.1 109.3
65 Furniture and fixtures 144.9 146.4 143.1
66 Stone, clay, and glass
products 131.8 130.4 132.5
67 Primary metals 125.8 125.8 123.9
68 Iron and steel 119.4 117.8 115.4
69 Raw steel 106.4 104.3 106.6
70 Nonferrous 133.6 135.5 134.3
71 Fabricated metal
products 136.8 136.0 136.2
72 Industrial machinery
and equipment 228.9 228.2 228.1
73 Computer and office
equipment 1,165.3 1,167.3 1,163.4
74 Electrical machinery 566.3 569.5 555.4
75 Transportation
equipment 131.8 128.8 123.1
76 Motor vehicles and
parts 164.8 158.6 146.9
77 Autos and light
trucks 152.9 145.2 138.8
78 Aerospace and
miscellaneous
transportation
equipment 100.8 100.7 100.7
79 Instruments 119.0 118.8 119.7
80 Miscellaneous 123.5 123.6 122.7
81 Nondurable goods 114.5 113.5 113.5
82 Foods 114.0 113.5 113.0
83 Tobacco products 91.7 98.7 96.2
84 Textile mill products 92.2 90.5 92.4
85 Apparel products 99.1 97.8 97.7
86 Paper and products 112.9 110.6 111.0
87 Printing and publishing 107.4 106.5 106.9
88 Chemicals and products 123.5 121.1 121.2
89 Petroleum products 115.8 114.1 114.5
90 Rubber and plastics 141.5 139.5 140.4
91 Leather and products 70.2 67.6 67.8
92 Mining 101.2 100.9 101.3
93 Metal 90.6 98.7 96.5
94 Coal 108.3 107.1 113.8
95 Oil and gas extraction 96.7 96.2 95.7
96 Stone and earth minerals 126.7 125.3 130.0
97 Utilities 124.2 127.7 125.2
98 Electric 126.1 128.7 127.1
99 Gas 115.7 122.4 117.0
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 150.6 149.8 149.3
101 Manufacturing excluding
computers and office
equipment 144.0 142.9 141.7
102 Computers, communications
equipment, and
semiconductors 1,191.1 1,193.6 1,166.2
103 Manufacturing excluding
computers and
semiconductors 125.8 124.8 124.0
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 122.4 121.3 120.5
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,813.8 2,800.7 2,771.7
106 Final 2,170.5 2,161.0 2,134.6
107 Consumer goods 1,318.2 1,316.7 1,296.7
108 Equipment 859.5 850.5 845.0
109 Intermediate 643.4 639.8 637.1
2001
Group Feb. Mar. Apr.
Index (1992=100)
MAJOR MARKETS
1 Total index 143.5 142.9 142.0
2 Products 132.2 132.1 131.0
3 Final products 134.7 135.1 134.0
4 Consumer goods, total 121.2 121.8 121.3
5 Durable consumer
goods 149.1 152.9 152.2
6 Automotive products 141.8 149.8 149.6
7 Autos and trucks 147.8 159.6 160.1
8 Autos, consumer 93.3 97.0 96.0
9 Trucks,
consumer 206.0 226.3 228.4
10 Auto parts and
allied goods 132.8 134.7 133.5
11 Other 156.1 155.1 153.9
12 Appliances,
televisions,
and air
conditioners 284.4 284.0 284.0
13 Carpeting and
furniture 124.7 123.1 119.9
14 Miscellaneous
home goods 118.3 117.7 117.4
15 Nondurable consumer
goods 114.4 114.3 113.9
16 Foods and tobacco 109.5 109.3 108.9
17 Clothing 82.6 82.8 82.0
18 Chemical products 141.7 143.8 143.4
19 Paper products 107.3 106.9 107.4
20 Energy 122.1 119.8 118.7
21 Fuels 114.2 113.9 114.6
22 Residential
utilities 126.2 122.8 120.7
23 Equipment 159.8 159.6 157.3
24 Business equipment 186.1 185.4 182.1
25 Information
processing 297.5 294.1 288.4
26 Computer and office
equipment 1,012.6 996.5 970.9
27 Industrial 132.4 132.6 129.1
28 Transit 131.6 135.6 133.8
29 Autos and trucks 142.5 151.1 148.0
30 Other 151.6 143.3 143.1
31 Defense and space
equipment 74.1 74.5 74.4
32 Oil and gas well
drilling 147.7 151.0 152.2
33 Manufactured homes 87.1 87.3 88.6
34 Intermediate products,
total 124.4 123.4 122.2
35 Construction supplies 138.6 139.4 139.0
36 Business supplies 116.0 113.8 112.2
37 Materials 162.5 160.9 160.3
38 Durable goods materials 219.7 218.0 216.4
39 Durable consumer parts 154.6 155.0 155.1
40 Equipment parts 470.1 464.3 452.9
41 Other 128.2 127.2 127.9
42 Basic metal materials 118.1 114.5 117.6
43 Nondurable goods
materials 107.9 104.9 104.7
44 Textile materials 95.8 95.3 95.0
45 Paper materials 112.1 106.0 110.2
46 Chemical materials 108.0 104.8 101.8
47 Other 109.9 108.7 110.6
48 Energy materials 104.6 104.5 104.9
49 Primary energy 98.9 99.1 99.5
50 Converted fuel
materials 116.1 115.5 115.7
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 143.6 142.6 141.7
52 Total excluding motor
vehicles and parts 143.1 142.0 141.0
53 Total excluding computer
and office equipment 137.4 136.9 136.0
54 Consumer goods excluding
autos and trucks 119.9 119.8 119.3
55 Consumer goods excluding
energy 121.0 122.0 121.6
56 Business equipment exclu-
ding autos and trucks 191.8 189.8 186.4
57 Business equipment
excluding computer and
office equipment 155.1 154.7 152.1
58 Materials excluding energy 181.6 179.3 178.2
MAJOR INDUSTRIES
59 Total index 143.5 142.9 142.0
60 Manufacturing 148.4 147.9 146.7
61 Primary processing 172.4 170.7 170.1
62 Advanced processing 135.1 135.1 133.7
63 Durable goods 184.6 184.7 182.9
64 Lumber and products 109.5 111.8 111.8
65 Furniture and fixtures 144.4 142.5 141.8
66 Stone, clay, and glass
products 132.4 132.9 133.1
67 Primary metals 121.0 117.5 121.2
68 Iron and steel 114.4 111.3 115.8
69 Raw steel 106.9 107.0 99.2
70 Nonferrous 128.9 125.1 127.8
71 Fabricated metal
products 133.2 132.2 131.0
72 Industrial machinery
and equipment 227.0 225.5 220.2
73 Computer and office
equipment 1,153.5 1,137.1 1,112.9
74 Electrical machinery 543.6 533.6 518.8
75 Transportation
equipment 126.4 131.0 130.5
76 Motor vehicles and
parts 154.9 163.7 163.2
77 Autos and light
trucks 143.5 154.2 154.4
78 Aerospace and
miscellaneous
transportation
equipment 99.5 100.4 99.9
79 Instruments 118.4 117.7 117.2
80 Miscellaneous 120.2 119.9 120.4
81 Nondurable goods 113.5 112.5 111.8
82 Foods 113.5 113.6 112.6
83 Tobacco products 94.8 93.3 94.8
84 Textile mill products 90.9 91.0 90.4
85 Apparel products 97.6 97.4 97.0
86 Paper and products 110.8 106.0 110.6
87 Printing and publishing 105.9 104.3 102.5
88 Chemicals and products 122.2 121.4 119.5
89 Petroleum products 115.3 114.7 115.4
90 Rubber and plastics 139.5 138.8 137.9
91 Leather and products 67.9 67.5 65.7
92 Mining 102.2 102.5 103.1
93 Metal 91.6 87.9 92.1
94 Coal 113.4 115.5 114.9
95 Oil and gas extraction 96.6 97.1 97.6
96 Stone and earth minerals 135.0 133.0 134.3
97 Utilities 123.4 121.8 121.3
98 Electric 125.0 124.7 125.2
99 Gas 116.2 110.3 107.1
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 148.2 147.0 145.8
101 Manufacturing excluding
computers and office
equipment 141.3 140.8 139.8
102 Computers, communications
equipment, and
semiconductors 1,146.7 1,127.5 1,089.4
103 Manufacturing excluding
computers and
semiconductors 123.7 123.3 122.6
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 120.4 120.0 119.4
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,768.2 2,776.5 2,754.8
106 Final 2,133.7 2,145.9 2,129.3
107 Consumer goods 1,301.7 1,311.5 1,307.1
108 Equipment 837.7 839.5 825.8
109 Intermediate 634.5 630.8 625.7
2001
Group May June July
Index (1992=100)
MAJOR MARKETS
1 Total index 141.6 140.3 140.4
2 Products 130.9 130.0 130.3
3 Final products 133.9 132.9 133.2
4 Consumer goods, total 121.4 121.1 122.2
5 Durable consumer
goods 154.2 153.2 157.0
6 Automotive products 152.8 152.3 161.1
7 Autos and trucks 165.7 163.4 178.3
8 Autos, consumer 97.9 97.2 97.5
9 Trucks,
consumer 237.9 234.0 264.3
10 Auto parts and
allied goods 132.5 135.1 133.9
11 Other 154.5 152.9 151.0
12 Appliances,
televisions,
and air
conditioners 292.1 285.0 271.7
13 Carpeting and
furniture 117.7 118.6 116.2
14 Miscellaneous
home goods 117.7 116.2 117.7
15 Nondurable consumer
goods 113.6 113.4 113.9
16 Foods and tobacco 108.6 108.9 109.3
17 Clothing 80.6 78.2 79.0
18 Chemical products 145.2 145.7 147.5
19 Paper products 106.7 106.6 106.0
20 Energy 116.9 115.8 116.0
21 Fuels 115.6 115.2 114.3
22 Residential
utilities 117.2 115.8 116.5
23 Equipment 156.5 154.1 152.7
24 Business equipment 181.3 177.8 176.1
25 Information
processing 286.8 279.6 275.2
26 Computer and office
equipment 950.6 948.7 934.2
27 Industrial 129.0 125.2 123.1
28 Transit 134.5 133.1 133.8
29 Autos and trucks 152.5 150.5 157.1
30 Other 139.1 140.7 140.8
31 Defense and space
equipment 73.5 73.4 73.6
32 Oil and gas well
drilling 151.9 150.4 147.1
33 Manufactured homes 91.7 96.0 95.4
34 Intermediate products,
total 122.2 121.4 121.4
35 Construction supplies 138.7 138.0 137.3
36 Business supplies 112.4 111.6 112.0
37 Materials 159.4 157.4 157.2
38 Durable goods materials 216.2 212.9 212.6
39 Durable consumer parts 159.6 157.7 160.2
40 Equipment parts 446.5 436.1 429.9
41 Other 127.5 126.2 126.4
42 Basic metal materials 116.7 115.5 115.7
43 Nondurable goods
materials 103.0 102.2 102.7
44 Textile materials 90.9 90.8 87.6
45 Paper materials 108.3 104.8 107.7
46 Chemical materials 100.5 100.3 100.9
47 Other 109.4 109.3 109.7
48 Energy materials 103.8 103.1 102.3
49 Primary energy 99.0 99.5 98.5
50 Converted fuel
materials 113.1 109.1 109.0
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 141.1 139.9 139.5
52 Total excluding motor
vehicles and parts 140.2 139.0 138.7
53 Total excluding computer
and office equipment 135.7 134.4 134.6
54 Consumer goods excluding
autos and trucks 119.0 118.8 119.1
55 Consumer goods excluding
energy 122.0 121.8 122.9
56 Business equipment exclu-
ding autos and trucks 184.9 181.3 178.4
57 Business equipment
excluding computer and
office equipment 151.7 148.5 147.2
58 Materials excluding energy 177.4 175.0 175.0
MAJOR INDUSTRIES
59 Total index 141.6 140.3 140.4
60 Manufacturing 146.4 145.0 145.2
61 Primary processing 169.4 167.3 167.4
62 Advanced processing 133.6 132.5 132.9
63 Durable goods 182.7 180.1 180.0
64 Lumber and products 113.7 114.2 114.0
65 Furniture and fixtures 140.4 138.3 138.4
66 Stone, clay, and glass
products 133.0 130.0 130.0
67 Primary metals 120.8 119.5 119.5
68 Iron and steel 118.4 117.7 118.8
69 Raw steel 106.2 107.8 108.3
70 Nonferrous 124.0 122.0 120.8
71 Fabricated metal
products 131.0 129.5 131.1
72 Industrial machinery
and equipment 217.0 213.8 210.2
73 Computer and office
equipment 1,095.1 1,095.4 1,074.6
74 Electrical machinery 511.4 497.6 485.9
75 Transportation
equipment 133.2 131.9 134.6
76 Motor vehicles and
parts 169.7 167.7 174.6
77 Autos and light
trucks 159.5 157.2 170.2
78 Aerospace and
miscellaneous
transportation
equipment 98.9 98.3 97.1
79 Instruments 116.8 114.5 115.0
80 Miscellaneous 119.0 119.8 120.7
81 Nondurable goods 111.5 111.1 111.5
82 Foods 112.8 112.9 113.1
83 Tobacco products 92.9 93.8 95.0
84 Textile mill products 86.7 86.8 84.3
85 Apparel products 96.5 94.0 95.1
86 Paper and products 108.8 107.1 108.1
87 Printing and publishing 102.3 101.3 101.1
88 Chemicals and products 119.9 119.5 121.2
89 Petroleum products 115.6 115.5 114.6
90 Rubber and plastics 137.1 137.7 138.0
91 Leather and products 63.6 62.2 62.1
92 Mining 103.0 102.5 101.9
93 Metal 91.3 88.6 88.8
94 Coal 113.9 115.9 111.9
95 Oil and gas extraction 97.4 97.0 97.0
96 Stone and earth minerals 137.1 133.7 130.6
97 Utilities 119.7 119.1 118.2
98 Electric 122.8 122.9 121.0
99 Gas 107.8 105.2 107.4
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 145.1 143.7 143.5
101 Manufacturing excluding
computers and office
equipment 139.5 138.1 138.4
102 Computers, communications
equipment, and
semiconductors 1,065.4 1,036.7 1,006.7
103 Manufacturing excluding
computers and
semiconductors 122.6 121.5 122.0
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 119.4 118.5 119.0
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,759.1 2,741.6 2,753.0
106 Final 2,133.0 2,118.1 2,129.7
107 Consumer goods 1,312.4 1,307.9 1,322.5
108 Equipment 823.3 811.6 806.5
109 Intermediate 626.3 623.7 623.5
2001
Aug. Sept. Oct. Nov.
Group (r) (r) (r) (p)
Index (1992=100)
MAJOR MARKETS
1 Total index 140.0 138.8 137.6 137.1
2 Products 129.4 128.1 126.7 126.5
3 Final products 132.0 130.4 129.1 129.2
4 Consumer goods, total 121.4 120.6 119.6 120.1
5 Durable consumer
goods 154.1 152.0 146.9 151.8
6 Automotive products 155.6 152.5 145.7 155.0
7 Autos and trucks 169.1 163.9 154.5 169.5
8 Autos, consumer 90.6 92.7 86.9 94.6
9 Trucks,
consumer 252.6 239.8 226.5 249.2
10 Auto parts and
allied goods 134.5 134.7 132.2 132.2
11 Other 151.0 150.1 147.0 146.7
12 Appliances,
televisions,
and air
conditioners 289.5 288.7 279.0 283.7
13 Carpeting and
furniture 117.6 119.2 116.2 116.9
14 Miscellaneous
home goods 112.7 110.5 109.4 107.5
15 Nondurable consumer
goods 113.6 113.0 113.0 112.5
16 Foods and tobacco 108.7 108.1 108.1 108.0
17 Clothing 76.4 75.3 74.7 73.3
18 Chemical products 146.7 146.5 147.4 148.8
19 Paper products 105.7 105.7 104.2 103.9
20 Energy 117.8 117.2 117.4 114.2
21 Fuels 112.2 113.9 117.2 115.1
22 Residential
utilities 120.5 118.6 117.2 113.3
23 Equipment 150.5 147.3 145.1 144.1
24 Business equipment 173.3 168.6 166.0 164.9
25 Information
processing 271.9 265.9 264.3 262.6
26 Computer and office
equipment 925.5 902.0 897.3 902.4
27 Industrial 122.2 119.9 118.9 116.1
28 Transit 128.7 124.6 119.3 120.0
29 Autos and trucks 149.6 143.6 136.2 145.4
30 Other 139.8 132.5 130.7 132.6
31 Defense and space
equipment 73.5 73.8 74.1 74.4
32 Oil and gas well
drilling 143.1 140.4 133.5 129.5
33 Manufactured homes 97.9 102.9 100.2 96.4
34 Intermediate products,
total 121.6 120.9 119.5 118.7
35 Construction supplies 138.8 138.9 135.3 135.2
36 Business supplies 111.3 110.1 110.2 108.9
37 Materials 157.6 156.8 155.7 154.8
38 Durable goods materials 212.0 209.8 208.2 206.4
39 Durable consumer parts 160.8 155.7 152.8 155.1
40 Equipment parts 429.6 431.3 431.6 425.7
41 Other 125.4 123.9 122.7 120.8
42 Basic metal materials 113.6 112.4 111.3 107.9
43 Nondurable goods
materials 104.0 104.1 103.8 103.4
44 Textile materials 90.1 89.3 89.4 89.5
45 Paper materials 109.5 110.0 111.5 110.1
46 Chemical materials 102.2 102.1 101.7 101.4
47 Other 109.8 110.3 108.5 108.4
48 Energy materials 103.0 103.5 102.4 102.5
49 Primary energy 98.4 99.2 97.6 98.3
50 Converted fuel
materials 111.4 111.4 111.7 110.3
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 139.4 138.4 137.4 136.5
52 Total excluding motor
vehicles and parts 138.5 137.6 136.6 135.6
53 Total excluding computer
and office equipment 134.1 133.1 131.9 131.5
54 Consumer goods excluding
autos and trucks 118.8 118.2 117.8 117.4
55 Consumer goods excluding
energy 121.8 121.0 119.9 120.9
56 Business equipment exclu-
ding autos and trucks 176.2 171.8 169.8 167.3
57 Business equipment
excluding computer and
office equipment 144.7 140.8 138.5 137.4
58 Materials excluding energy 175.2 173.9 172.8 171.5
MAJOR INDUSTRIES
59 Total index 140.0 138.8 137.6 137.1
60 Manufacturing 144.5 143.2 142.0 141.7
61 Primary processing 167.3 166.8 165.5 164.6
62 Advanced processing 131.7 130.1 129.0 129.0
63 Durable goods 178.9 176.4 173.7 173.6
64 Lumber and products 116.2 116.9 113.7 114.1
65 Furniture and fixtures 138.7 136.2 134.8 132.5
66 Stone, clay, and glass
products 130.8 130.9 129.7 130.1
67 Primary metals 117.5 115.8 114.1 110.6
68 Iron and steel 115.7 113.1 111.8 108.2
69 Raw steel 106.2 105.8 99.5 96.5
70 Nonferrous 119.9 119.3 117.2 113.8
71 Fabricated metal
products 131.0 129.1 127.1 125.9
72 Industrial machinery
and equipment 211.0 205.5 202.6 201.6
73 Computer and office
equipment 1,064.8 1,037.6 1,033.2 1,038.9
74 Electrical machinery 485.5 486.1 485.0 480.4
75 Transportation
equipment 131.6 128.5 124.6 128.0
76 Motor vehicles and
parts 169.9 164.2 157.3 167.3
77 Autos and light
trucks 160.9 156.6 147.4 161.6
78 Aerospace and
miscellaneous
transportation
equipment 95.7 95.0 93.9 91.2
79 Instruments 113.9 112.8 112.2 111.5
80 Miscellaneous 116.7 114.5 113.4 110.8
81 Nondurable goods 111.1 110.8 110.6 110.3
82 Foods 113.0 112.2 112.2 112.1
83 Tobacco products 93.2 92.7 92.8 92.7
84 Textile mill products 85.8 86.2 84.4 84.7
85 Apparel products 91.2 89.7 88.2 87.1
86 Paper and products 107.7 109.4 108.0 107.0
87 Printing and publishing 100.7 100.3 100.5 99.9
88 Chemicals and products 121.2 121.3 121.6 122.1
89 Petroleum products 112.9 112.2 114.7 112.5
90 Rubber and plastics 137.3 136.8 135.5 134.2
91 Leather and products 62.8 61.5 60.3 58.4
92 Mining 101.4 102.1 100.0 100.2
93 Metal 87.9 89.5 87.7 86.6
94 Coal 111.7 111.7 106.5 106.6
95 Oil and gas extraction 96.3 97.0 94.8 95.2
96 Stone and earth minerals 132.2 133.6 136.3 135.2
97 Utilities 121.1 119.1 118.7 116.4
98 Electric 124.5 122.2 123.2 121.5
99 Gas 108.1 107.4 102.5 98.1
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 143.0 142.0 141.2 140.2
101 Manufacturing excluding
computers and office
equipment 137.7 136.5 135.4 135.1
102 Computers, communications
equipment, and
semiconductors 999.5 995.5 997.8 992.2
103 Manufacturing excluding
computers and
semiconductors 121.3 120.2 119.0 118.8
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 118.4 117.3 116.2 116.0
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,732.0 2,701.6 2,668.3 2,674.3
106 Final 2,107.0 2,081.8 2,057.0 2,067.8
107 Consumer goods 1,312.1 1,304.1 1,292.8 1,303.1
108 Equipment 793.3 773.8 759.1 758.6
109 Intermediate 625.0 619.9 611.3 606.7
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in November 2001. The recent
annual revision will be described in an article in an upcoming 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 886 880 877
15 Number for sale at end of
period (1) 300 315 301
Price of units sold
(thousands of dollars) (2)
16 Median 152.5 161.0 169.0
17 Average 181.9 195.6 207.0
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 703,533 763,914 817,130
22 Private 550,754 595,667 641,269
23 Residential 314,514 349,560 375,268
24 Nonresidential 236,240 246,107 266,001
25 Industrial buildings 40,547 32,794 31,984
26 Commercial buildings 95,760 104,531 116,988
27 Other buildings 39,609 40,906 44,505
28 Public utilities and other 60,324 67,876 72,523
29 Public 152,779 168,247 175,861
30 Military 2,539 2,142 2,334
31 Highway 45,251 52,024 52,851
32 Conservation and
development 5,415 5,995 6,043
33 Other 99,575 108,086 114,634
2001
Item Jan. Feb. Mar. 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 1,626
5 One-family 1,336 1,288 1,208 1,295
6 Two-family or more 330 335 384 331
7 Under construction at end of
period (1) 985 989 1,002 1,006
8 One-family 669 675 676 682
9 Two-family or more 316 314 326 324
10 Completed 1,424 1,531 1,478 1,569
11 One-family 1,090 1,201 1,207 1,232
12 Two-family or more 334 330 271 337
13 Mobile homes shipped 171 180 179 184
Merchant builder activity in
one family units
14 Number sold 938 959 953 899
15 Number for sale at end of
period (1) 295 295 289 293
Price of units sold
(thousands of dollars) (2)
16 Median 171.3 169.1 166.3 175.2
17 Average 209.0 211.0 210.2 205.5
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 859,815 869,334 869,140 870,826
22 Private 673,715 681,826 681,176 677,429
23 Residential 386,088 398,863 395,080 392,160
24 Nonresidential 287,627 282,963 286,096 285,269
25 Industrial buildings 35,878 33,386 34,823 34,662
26 Commercial buildings 125,402 124,568 128,792 124,935
27 Other buildings 46,567 46,264 47,117 46,080
28 Public utilities and other 79,780 78,745 75,364 79,592
29 Public 186,100 187,508 187,964 193,397
30 Military 2,270 2,342 2,131 2,530
31 Highway 55,368 56,204 57,443 57,717
32 Conservation and
development 7,381 7,838 7,573 6,332
33 Other 121,081 121,124 120,817 126,818
2001
Item May June July
Private residential real
estate activity (thousands
of units except as noted)
NEW UNITS
1 Permits authorized 1,621 1,587 1,571
2 One-family 1,205 1,225 1,211
3 Two-family or more 416 362 360
4 Started 1,610 1,634 1,660
5 One-family 1,285 1,292 1,290
6 Two-family or more 325 342 370
7 Under construction at end of
period (1) 1,016 1,012 1,019
8 One-family 688 688 693
9 Two-family or more 328 324 326
10 Completed 1,499 1,643 1,583
11 One-family 1,225 1,275 1,269
12 Two-family or more 274 368 314
13 Mobile homes shipped 186 198 193
Merchant builder activity in
one family units
14 Number sold 882 889 877 (r)
15 Number for sale at end of
period (1) 296 301 307 (r)
Price of units sold
(thousands of dollars) (2)
16 Median 175.3 179.4 175.0 (r)
17 Average 211.4 211.7 209.3 (r)
EXISTING UNITS (one-family)
18 Number sold 5,360 5,330 5,200
Price of units sold
(thousands of dollars) (2)
19 Median 145.0 152.2 151.7
20 Average 183.6 191.1 190.6
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 869,574 861,571 863,742 (r)
22 Private 670,838 665,322 667,765 (r)
23 Residential 394,330 391,508 395,668 (r)
24 Nonresidential 276,508 273,814 272,097 (r)
25 Industrial buildings 31,943 32,966 34,645 (r)
26 Commercial buildings 118,601 116,842 115,894 (r)
27 Other buildings 46,643 46,020 45,549 (r)
28 Public utilities and other 79,321 77,986 76,009 (r)
29 Public 198,736 196,249 195,977 (r)
30 Military 2,274 2,477 2,375 (r)
31 Highway 60,437 61,534 60,470 (r)
32 Conservation and
development 7,216 6,592 6,063
33 Other 128,809 125,646 127,069 (r)
2001
Item Aug. (r) Sept. (r) Oct.
Private residential real
estate activity (thousands
of units except as noted)
NEW UNITS
1 Permits authorized 1,571 1,528 1,485
2 One-family 1,210 1,164 1,140
3 Two-family or more 361 364 345
4 Started 1,559 1,585 1,521
5 One-family 1,271 1,265 1,222
6 Two-family or more 288 320 299
7 Under construction at end of
period (1) 1,009 1,015 1,012
8 One-family 691 691 685
9 Two-family or more 318 324 327
10 Completed 1,620 1,543 1,543
11 One-family 1,276 1,258 1,300
12 Two-family or more 344 285 243
13 Mobile homes shipped 199 206 207
Merchant builder activity in
one family units
14 Number sold 871 863 878
15 Number for sale at end of
period (1) 309 310 308
Price of units sold
(thousands of dollars) (2)
16 Median 173.7 166.8 172.2
17 Average 207.5 203.1 207.4
EXISTING UNITS (one-family)
18 Number sold 5,540 4,900 5,180
Price of units sold
(thousands of dollars) (2)
19 Median 153.7 147.4 145.4
20 Average 193.5 185.2 181.8
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 856,629 851,883 858,557
22 Private 663,108 660,249 652,991
23 Residential 399,558 398,136 398,289
24 Nonresidential 263,550 262,113 254,702
25 Industrial buildings 31,884 31,291 25,644
26 Commercial buildings 110,860 111,249 111,546
27 Other buildings 44,851 44,829 45,991
28 Public utilities and other 75,955 74,744 71,521
29 Public 193,521 191,635 205,566
30 Military 2,539 2,362 2,337
31 Highway 55,667 53,534 56,749
32 Conservation and
development 7,265 7,344 7,333
33 Other 128,050 128,395 139,147
(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 months
12 months earlier
earlier (annual rate)
2000 2001
2000 2001
Item Nov. Nov. Dec. Mar.
CONSUMER PRICES (2)
(1982-84=100)
1 All items 3.4 1.9 2.3 4.0
2 Food 2.2 3.4 2.1 4.1
3 Energy items 16.0 -10.1 3.8 6.0
4 All items less food and
energy 2.6 2.8 2.0 3.5
5 Commodities .7 .0 .0 1.4
6 Services 3.4 4.0 3.2 4.2
PRODUCER PRICES
(1982=100)
7 Finished goods 3.8 -1.1 2.9 4.7
8 Consumer foods 2.1 1.7 2.7 10.5
9 Consumer energy 18.3 -13.5 12.0 9.5
10 Other consumer goods 1.3 1.5 1.0 2.3
11 Capital equipment 1.2 .0 .3 .0
Intermediate materials
12 Excluding foods and feeds 4.4 -3.2 1.2 1.5
13 Excluding energy 1.8 -1.4 -.3 1.5
Crude materials
14 Foods .9 -2.1 36.5 15.6
15 Energy 42.5 -31.5 102.6 -42.4
16 Other -3.4 -9.7 -9.2 -10.8
Change from
3 months Change from
earlier 1 month earlier
(annual rate)
2001 2001
Item June Sept. July Aug.
CONSUMER PRICES (2)
(1982-84=100)
1 All items 3.7 .7 -.3 .1
2 Food 3.3 2.8 .3 .2
3 Energy items 16.8 -18.2 -5.6 -1.9
4 All items less food and
energy 2.6 2.4 .2 .2
5 Commodities -1.6 .3 .1 -.4
6 Services 4.5 3.1 .2 .5
PRODUCER PRICES
(1982=100)
7 Finished goods .9 -1.4 -1.2 (r) .5 (r)
8 Consumer foods .9 2.0 -.4 (r) .7 (r)
9 Consumer energy -4.2 -16.3 -7.6 (r) 2.6 (r)
10 Other consumer goods 2.8 1.3 .1 (r) -.2 (r)
11 Capital equipment .6 1.7 .3 (r) .0 (r)
Intermediate materials
12 Excluding foods and feeds -1.2 -5.6 -1.2 (r) -.3 (r)
13 Excluding energy -.9 -3.7 -.5 (r) -.3 (r)
Crude materials
14 Foods -6.8 4.2 .4 (r) -.5 (r)
15 Energy -52.0 -61.6 -12.4 (r) .6 (r)
16 Other -15.0 -4.5 .8 (r) -2.1 (r)
Change from
1 month earlier
2001
Index
level,
Item Sept. Oct. Nov. Nov.
2001 (1)
CONSUMER PRICES (2)
(1982-84=100)
1 All items .4 -.3 .0 177.4
2 Food .2 .5 -.1 174.6
3 Energy items 2.6 -6.3 -4.4 116.0
4 All items less food and
energy .2 .2 .4 188.1
5 Commodities .3 -.1 .2 146.0
6 Services .1 .2 .5 212.3
PRODUCER PRICES
(1982=100)
7 Finished goods .4 -1.6 -.6 138.4
8 Consumer foods .2 -.4 -.8 140.5
9 Consumer energy .9 -7.7 -3.8 85.5
10 Other consumer goods .4 -.4 .3 157.8
11 Capital equipment .1 -.7 .1 139.9
Intermediate materials
12 Excluding foods and feeds .1 -1.5 -.5 127.3
13 Excluding energy -.1 -.4 -.2 134.9
Crude materials
14 Foods 1.1 -2.6 -5.9 98.3
15 Energy -10.7 -19.2 28.3 96.5
16 Other .2 -1.7 -.8 124.5
(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 Q3
GROSS DOMESTIC PRODUCT
1 Total 8,781.5 9,268.6 9,872.9 9,937.5
By source
2 Personal consumption
expenditures 5,856.0 6,250.2 6,728.4 6,785.5
3 Durable goods 693.2 760.9 819.6 825.4
4 Nondurable goods 1,708.5 1,831.3 1,989.6 2,012.4
5 Services 3,454.3 3,658.0 3,919.2 3,947.7
6 Gross private domestic
investment 1,538.7 1,636.7 1,767.5 1,788.4
7 Fixed investment 1,465.6 1,578.2 1,718.1 1,735.9
8 Nonresidential 1,101.2 1,174.6 1,293.1 1,314.9
9 Structures 282.4 283.5 313.6 321.1
10 Producers' durable
equipment 818.9 891.1 979.5 993.8
11 Residential
structures 364.4 403.5 425.1 421.0
12 Change in business
inventories 73.1 58.6 49.4 52.5
13 Nonfarm 72.3 60.1 51.1 55.3
14 Net exports of goods and
services -151.7 -250.9 -364.0 -380.6
15 Exports 964.9 989.8 1,102.9 1,131.1
16 Imports 1,116.7 1,240.6 1,466.9 1,511.8
17 Government consumption
expenditures and
gross investment 1,538.5 1,632.5 1,741.0 1,744.2
18 Federal 539.2 564.0 590.2 587.0
19 State and local 999.3 1,068.5 1,150.8 1,157.2
By major type of product
20 Final sales, total 8,708.4 9,210.0 9,823.6 9,884.9
21 Goods 3,232.3 3,418.6 3,644.8 3,677.2
22 Durable 1,524.4 1,618.8 1,735.2 1,753.8
23 Nondurable 1,707.9 1,799.8 1,909.7 1,923.5
24 Services 4,678.6 4,939.1 5,268.5 5,296.1
25 Structures 797.5 852.4 910.3 911.6
26 Change in business
inventories 73.1 58.6 49.4 52.5
27 Durable goods 44.7 35.3 34.7 33.0
28 Nondurable goods 28.5 23.3 14.7 19.5
MEMO
29 Total GDP in chained
1996 dollars 8,508.9 8,856.5 9,224.0 9,260.1
NATIONAL INCOME
30 Total 7,041.4 7,462.1 7,980.9 8,047.2
31 Compensation of
employees 4,989.6 5,310.7 5,715.2 5,759.3
32 Wages and salaries 4,192.1 4,477.4 4,837.2 4,875.8
33 Government and
government
enterprises 692.7 724.3 768.4 772.6
34 Other 3,499.4 3,753.1 4,068.8 4,103.2
35 Supplement to wages
and salaries 797.5 833.4 878.0 883.5
36 Employer
contributions for
social insurance 306.9 323.6 343.8 345.6
37 Other labor income 490.6 509.7 534.2 537.9
38 Proprietors' income (1) 623.8 672.0 715.0 719.3
39 Business and
professional (1) 598.2 645.4 684.4 687.6
40 Farm (1) 25.6 26.6 30.6 31.6
41 Rental income of
persons (2) 138.6 147.7 141.6 138.3
42 Corporate profits (1) 777.4 825.2 876.4 895.0
43 Profits before tax (3) 721.1 776.3 845.4 858.3
44 Inventory valuation
adjustment 18.3 -2.9 -12.4 -3.6
45 Capital consumption
adjustment 38.0 51.7 43.4 40.4
46 Net interest 511.9 506.5 532.7 535.3
2000 2001
Account Q4 Q1 Q2 Q3 (r)
GROSS DOMESTIC PRODUCT
1 Total 10,027.9 10,141.7 10,202.6 10,224.9
By source
2 Personal consumption
expenditures 6,871.4 6,977.6 7,044.6 7,057.6
3 Durable goods 818.7 838.1 844.7 840.6
4 Nondurable goods 2,025.1 2,047.1 2,062.3 2,057.5
5 Services 4,027.5 4,092.4 4,137.6 4,159.4
6 Gross private domestic
investment 1,780.3 1,722.8 1,669.9 1,624.8
7 Fixed investment 1,741.6 1,748.3 1,706.5 1,682.6
8 Nonresidential 1,318.2 1,311.2 1,260.2 1,231.0
9 Structures 330.9 345.8 338.6 334.3
10 Producers' durable
equipment 987.3 965.4 921.7 896.8
11 Residential
structures 423.4 437.0 446.2 451.6
12 Change in business
inventories 38.7 -25.5 -36.6 -57.8
13 Nonfarm 37.8 -26.2 -35.3 -55.9
14 Net exports of goods and
services -390.6 -363.8 -347.4 -294.4
15 Exports 1,121.0 1,117.4 1,079.6 1,020.6
16 Imports 1,511.6 1,481.2 1,427.0 1,315.0
17 Government consumption
expenditures and
gross investment 1,766.8 1,805.2 1,835.4 1,836.9
18 Federal 594.2 605.3 609.9 615.7
19 State and local 1,172.6 1,199.8 1,225.5 1,221.2
By major type of product
20 Final sales, total 9,989.2 10,167.2 10,239.1 10,282.7
21 Goods 3,670.6 3,718.8 3,715.0 3,690.3
22 Durable 1,740.7 1,755.8 1,737.2 1,704.9
23 Nondurable 1,929.9 1,963.1 1,977.8 1,985.4
24 Services 5,393.0 5,482.8 5,545.7 5,626.5
25 Structures 925.6 965.6 978.4 965.9
26 Change in business
inventories 38.7 -25.5 -36.6 -57.8
27 Durable goods 31.5 -31.0 -42.3 -55.3
28 Nondurable goods 7.2 5.5 5.8 -2.5
MEMO
29 Total GDP in chained
1996 dollars 9,303.9 9,334.5 9,341.7 9,310.4
NATIONAL INCOME
30 Total 8,124.0 8,169.7 8,207.9 8,189.6
31 Compensation of
employees 5,868.9 5,955.7 6,010.8 6,037.7
32 Wages and salaries 4,973.2 5,049.4 5,099.8 5,123.4
33 Government and
government
enterprises 776.6 788.8 799.6 812.5
34 Other 4,196.6 4,260.6 4,300.2 4,311.0
35 Supplement to wages
and salaries 895.7 906.3 911.0 914.2
36 Employer
contributions for
social insurance 350.8 357.1 358.8 358.8
37 Other labor income 544.9 549.3 552.2 555.4
38 Proprietors' income (1) 725.2 735.2 745.3 752.7
39 Business and
professional (1) 693.5 705.4 716.6 720.5
40 Farm (1) 31.7 29.8 28.7 32.3
41 Rental income of
persons (2) 141.7 139.6 139.0 144.0
42 Corporate profits (1) 847.6 789.8 759.8 697.0
43 Profits before tax (3) 816.5 755.7 738.3 680.6
44 Inventory valuation
adjustment -7.3 -1.9 -8.8 3.1
45 Capital consumption
adjustment 38.4 36.0 30.3 13.4
46 Net interest 540.6 549.4 553.0 558.3
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
(3.) For after-tax profits, dividends, and the like, see table 1.48.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
2.17 PERSONAL INCOME AND SAVING
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
Account 1998 1999 2000
PERSONAL INCOME AND SAVING
1 Total personal income 7,426.0 7,777.3 8,319.2
2 Wage and salary
disbursements 4,192.8 4,472.2 4,837.2
3 Commodity-producing
industries 1,038.5 1,088.7 1,163.7
4 Manufacturing 756.6 782.0 830.1
5 Distributive
industries 948.9 1,021.0 1,095.6
6 Service industries 1,512.7 1,638.2 1,809.5
7 Government and
government
enterprises 692.7 724.3 768.4
8 Other labor income 490.6 509.7 534.2
9 Proprietors'
income (1) 623.8 672.0 715.0
10 Business and
professional (1) 598.2 645.4 684.4
11 Farm (1) 25.6 26.6 30.6
12 Rental income of
persons (2) 138.6 147.7 141.6
13 Dividends 348.3 343.1 379.2
14 Personal interest
income 964.4 950.0 1,000.6
15 Transfer payments 983.7 1,019.6 1,069.1
16 Old-age survivors,
disability, and
health insurance
benefits 578.1 588.0 617.3
17 LESS: Personal
contributions for
social insurance 316.3 337.1 357.7
18 EQUALS: Personal
income 7,426.0 7,777.3 8,319.2
19 LESS: Personal tax
and nontax
payments 1,070.4 1,159.2 1,288.2
20 EQUALS: Disposable
personal income 6,355.6 6,618.0 7,031.0
21 LESS: Personal
outlays 6,054.1 6,457.2 6,963.3
22 EQUALS: Personal
saving 301.5 160.9 67.7
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 31,449.2 32,441.9 33,490.3
24 Personal consumption
expenditures 21,007.2 21,862.6 22,720.7
25 Disposable personal
income 22,800.0 23,150.0 23,742.0
26 Saving rate (percent) 4.7 2.4 1.0
GROSS SAVING
27 Gross saving 1,647.2 1,707.4 1,785.7
28 Gross private saving 1,375.0 1,348.0 1,323.0
29 Personal saving 301.5 160.9 67.7
30 Undistributed
corporate
profits (1) 189.9 228.7 225.3
31 Corporate inventory
valuation adjustment 18.3 -2.9 -12.4
Capital consumption
allowances
32 Corporate 620.2 669.2 727.1
33 Noncorporate 264.2 284.1 302.8
34 Gross government
saving 272.2 359.4 462.8
35 Federal 132.0 210.9 315.0
36 Consumption of
fixed capital 88.2 91.7 96.4
37 Current surplus or
deficit (-),
national
accounts 43.8 119.2 218.6
38 State and local 140.2 148.5 147.8
39 Consumption of
fixed capital 99.5 106.4 114.9
40 Current surplus or
deficit (-),
national
accounts 40.7 42.1 32.8
41 Gross investment 1,616.2 1,634.7 1,655.3
42 Gross private domestic
investment 1,538.7 1,636.7 1,767.5
43 Gross government
investment 277.1 304.6 318.3
44 Net foreign investment -199.7 -306.6 -430.5
45 Statistical
discrepancy -31.0 -72.7 -130.4
2000 2001
Account
Q3 Q4 Q1
PERSONAL INCOME AND SAVING
1 Total personal income 8,381.5 8,519.6 8,640.2
2 Wage and salary
disbursements 4,875.8 4,973.2 5,049.4
3 Commodity-producing
industries 1,173.2 1,195.5 1,206.3
4 Manufacturing 838.0 852.2 853.3
5 Distributive
industries 1,102.4 1,125.9 1,140.3
6 Service industries 1,827.6 1,875.2 1,914.0
7 Government and
government
enterprises 772.6 776.6 788.8
8 Other labor income 537.9 544.9 549.3
9 Proprietors'
income (1) 719.3 725.2 735.2
10 Business and
professional (1) 687.6 693.5 705.4
11 Farm (1) 31.6 31.7 29.8
12 Rental income of
persons (2) 138.3 141.7 139.6
13 Dividends 385.8 396.6 404.8
14 Personal interest
income 1,009.2 1,013.1 1,010.9
15 Transfer payments 1,074.6 1,089.0 1,123.1
16 Old-age survivors,
disability, and
health insurance
benefits 620.9 626.5 651.4
17 LESS: Personal
contributions for
social insurance 359.4 364.1 372.1
18 EQUALS: Personal
income 8,381.5 8,519.6 8,640.2
19 LESS: Personal tax
and nontax
payments 1,300.2 1,329.8 1,345.2
20 EQUALS: Disposable
personal income 7,081.3 7,189.8 7,295.0
21 LESS: Personal
outlays 7,026.9 7,115.1 7,216.2
22 EQUALS: Personal
saving 54.5 74.7 78.8
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 32,732.7 (r) 32,783.4 (r) 32,798.6 (r)
24 Personal consumption
expenditures 22,241.5 (r) 22,343.5 (r) 22,447.3 (r)
25 Disposable personal
income 23,209.0 (r) 23,376.0 (r) 23,470.0 (r)
26 Saving rate (percent) .8 1.0 1.1
GROSS SAVING
27 Gross saving 1,807.4 1,799.7 1,754.0
28 Gross private saving 1,329.6 1,332.7 1,307.9
29 Personal saving 54.5 74.7 78.8
30 Undistributed
corporate
profits (1) 233.9 197.0 147.8
31 Corporate inventory
valuation adjustment -3.6 -7.3 -1.9
Capital consumption
allowances
32 Corporate 736.0 749.7 763.8
33 Noncorporate 305.2 311.3 317.5
34 Gross government
saving 477.8 467.1 446.1
35 Federal 326.9 320.5 303.7
36 Consumption of
fixed capital 97.0 97.9 98.4
37 Current surplus or
deficit (-),
national
accounts 229.9 222.5 205.3
38 State and local 150.9 146.6 142.5
39 Consumption of
fixed capital 116.1 118.0 120.2
40 Current surplus or
deficit (-),
national
accounts 34.8 28.6 22.3
41 Gross investment 1,651.1 1,649.7 1,633.5
42 Gross private domestic
investment 1,788.4 1,780.3 1,722.8
43 Gross government
investment 314.0 322.8 330.9
44 Net foreign investment -451.3 -453.4 -420.2
45 Statistical
discrepancy -156.3 -150.0 -120.5
2001
Account
Q2 Q3 (r)
PERSONAL INCOME AND SAVING
1 Total personal income 8,714.6 8,771.8
2 Wage and salary
disbursements 5,099.8 5,123.4
3 Commodity-producing
industries 1,204.4 1,197.5
4 Manufacturing 850.2 841.1
5 Distributive
industries 1,148.2 1,148.1
6 Service industries 1,947.6 1,965.4
7 Government and
government
enterprises 799.6 812.5
8 Other labor income 552.2 555.4
9 Proprietors'
income (1) 745.3 752.7
10 Business and
professional (1) 716.6 720.5
11 Farm (1) 28.7 32.3
12 Rental income of
persons (2) 139.0 144.0
13 Dividends 411.9 420.0
14 Personal interest
income 1,001.0 991.5
15 Transfer payments 1,139.4 1,159.0
16 Old-age survivors,
disability, and
health insurance
benefits 660.1 670.8
17 LESS: Personal
contributions for
social insurance 374.0 374.2
18 EQUALS: Personal
income 8,714.6 8,771.8
19 LESS: Personal tax
and nontax
payments 1,351.4 1,195.5
20 EQUALS: Disposable
personal income 7,363.2 7,576.4
21 LESS: Personal
outlays 7,281.7 7,291.0
22 EQUALS: Personal
saving 81.5 285.3
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 32,732.1 (r) 32,508.4
24 Personal consumption
expenditures 22,524.2 (r) 22,499.5
25 Disposable personal
income 23,541.0 (r) 24,157.0
26 Saving rate (percent) 1.1 3.8
GROSS SAVING
27 Gross saving 1,750.5 1,751.9
28 Gross private saving 1,321.2 1,534.4
29 Personal saving 81.5 285.3
30 Undistributed
corporate
profits (1) 119.5 71.7
31 Corporate inventory
valuation adjustment -8.8 3.1
Capital consumption
allowances
32 Corporate 785.6 847.0
33 Noncorporate 334.6 330.4
34 Gross government
saving 429.3 217.6
35 Federal 286.2 86.2
36 Consumption of
fixed capital 99.4 99.8
37 Current surplus or
deficit (-),
national
accounts 186.7 -13.6
38 State and local 143.2 131.4
39 Consumption of
fixed capital 121.9 129.5
40 Current surplus or
deficit (-),
national
accounts 21.3 1.9
41 Gross investment 1,607.3 1,602.3
42 Gross private domestic
investment 1,669.9 1,624.8
43 Gross government
investment 344.0 331.9
44 Net foreign investment -406.6 -354.5
45 Statistical
discrepancy -143.2 -149.7
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
SOURCE: U.S. Department of Commerce, Survey of Current Business.
Summary Statistics
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted except
as noted (1)
Item credits or debits 1998 1999 2000
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 (SDRs) -147 10 -722
15 Reserve position
in International
Monetary Fund -5,119 5,484 2,308
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. purchase 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
transactions,
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
(increase, -) -6,783 8,747 -290
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 2001
Item credits or debits
Q3 Q4 Q1
1 Balance on current
account -115,305 -116,324 -111,778
2 Balance on goods
and services -97,340 -100,293 -95,023
3 Exports 272,497 270,131 269,092
4 Imports -369,837 -370,424 -364,115
5 Income, net -4,885 642 -5,021
6 Investment, net -3,620 1,971 -3,661
7 Direct 21,049 25,703 22,673
8 Portfolio -24,669 -23,732 -26,334
9 Compensation of
employees -1,265 -1,329 -1,360
10 Unilateral current
transfers, net -13,080 -16,673 -11,734
11 Change in U.S.
government assets
other than
official reserve
assets, net
(increase, -) 114 -359 21
12 Change in U.S.
official reserve
assets
(increase, -) -346 -1,410 190
13 Gold 0 0 0
14 Special drawing
rights (SDRs) -182 -180 -189
15 Reserve position
in International
Monetary Fund 1,300 -1,083 574
16 Foreign currencies -1,464 -147 -195
17 Change in U.S.
private assets
abroad
(increase, -) -107,495 -179,779 -243,331
18 Bank-reported
claims (2) -18,147 -71,574 -109,789
19 Nonbank-reported
claims -14,585 -44,514 -61,011
20 U.S. purchase of
foreign
securities, net -33,129 -24,621 -31,591
21 U.S. direct
investments
abroad, net -41,634 -39,070 -40,940
22 Change in foreign
official assets
in United States
(increase, +) 12,247 -3,573 4,898
23 U.S. Treasury
securities -9,001 -13,436 -1,027
24 Other U.S.
government
obligations 14,272 8,196 3,574
25 Other U.S.
government
liabilities (2) -220 -293 -1,246
26 Other U.S.
liabilities
reported by U.S.
banks (2) 6,884 980 2,594
27 Other foreign
official
assets (3) 312 980 1,003
28 Change in foreign
private assets
in United States
(increase, +) 209,861 298,894 341,762
29 U.S. bank-reported
liabilities (4) -1,910 43,365 6,890
30 U.S. nonbank-
reported
liabilities 19,078 48,344 130,624
31 Foreign private
purchases of
U.S. Treasury
securities, net -12,503 -10,395 656
32 U.S. currency
flows 757 6,230 2,311
33 Foreign purchases
of other U.S.
securities, net 128,393 126,643 148,809
34 Foreign direct
investments in
United States,
net 76,046 84,707 52,472
35 Capital account
transactions,
net (5) 175 184 173
36 Discrepancy 749 2,367 8,065
37 Due to seasonal
adjustment -9,977 3,856 8,821
38 Before seasonal
adjustment 10,726 -1,489 -756
MEMO
Changes in official
assets
39 U.S. official
reserve assets
(increase, -) -346 -1,410 190
40 Foreign official
assets in United
States, excluding
line 25
(increase, +) 12,467 -3,280 6,144
41 Change in
Organization of
Petroleum
Exporting
Countries official
assets in United
States (part of
line 22) 3,636 164 589
2001
Item credits or debits
Q2 Q3
1 Balance on current
account -107,576 -94,980
2 Balance on goods
and services -90,543 -77,587
3 Exports 259,315 243,391
4 Imports -349,858 -320,978
5 Income, net -4,995 -5,038
6 Investment, net -3,658 -3,716
7 Direct 23,426 24,045
8 Portfolio -27,084 -27,761
9 Compensation of
employees -1,337 -1,322
10 Unilateral current
transfers, net -12,038 -12,355
11 Change in U.S.
government assets
other than
official reserve
assets, net
(increase, -) -786 23
12 Change in U.S.
official reserve
assets
(increase, -) -1,343 -3,559
13 Gold 0 0
14 Special drawing
rights (SDRs) -156 -145
15 Reserve position
in International
Monetary Fund -1,015 -3,242
16 Foreign currencies -172 -172
17 Change in U.S.
private assets
abroad
(increase, -) -70,046 -11,847
18 Bank-reported
claims (2) -105 56,025
19 Nonbank-reported
claims 22,232 -29,773
20 U.S. purchase of
foreign
securities, net -51,109 13,963
21 U.S. direct
investments
abroad, net -41,064 -52,062
22 Change in foreign
official assets
in United States
(increase, +) -20,879 16,814
23 U.S. Treasury
securities -20,783 15,810
24 Other U.S.
government
obligations 9,932 -216
25 Other U.S.
government
liabilities (2) -926 113
26 Other U.S.
liabilities
reported by U.S.
banks (2) -10,130 -874
27 Other foreign
official
assets (3) 1,028 1,981
28 Change in foreign
private assets
in United States
(increase, +) 247,460 35,297
29 U.S. bank-reported
liabilities (4) 44,271 -54,015
30 U.S. nonbank-
reported
liabilities 3,375 -13,298
31 Foreign private
purchases of
U.S. Treasury
securities, net -8,678 -9,436
32 U.S. currency
flows 2,772 8,203
33 Foreign purchases
of other U.S.
securities, net 140,512 77,455
34 Foreign direct
investments in
United States,
net 65,208 26,388
35 Capital account
transactions,
net (5) 177 182
36 Discrepancy -47,007 58,070
37 Due to seasonal
adjustment -1,835 -8,617
38 Before seasonal
adjustment -45,172 66,687
MEMO
Changes in official
assets
39 U.S. official
reserve assets
(increase, -) -1,343 -3,559
40 Foreign official
assets in United
States, excluding
line 25
(increase, +) -19,953 16,701
41 Change in
Organization of
Petroleum
Exporting
Countries official
assets in United
States (part of
line 22) -1,743 -4,057
(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
Item 1998 1999 2000
1 Goods and services,
balance -166,686 -261,838 -375,739
2 Merchandise -246,855 -345,434 -452,207
3 Services 79,868 83,596 76,468
4 Goods and services,
exports 933,053 957,353 1,065,702
5 Merchandise 670,324 684,553 772,210
6 Services 262,729 272,800 293,492
7 Goods and services,
imports -1,099,739 -1,219,191 -1,441,441
8 Merchandise -917,179 -1,029,987 -1,224,417
9 Services -182,560 -189,204 -217,024
2001
Item
Apr. (r) May (r) June (r) July (r)
1 Goods and services,
balance -31,841 -28,876 -29,827 -30,166
2 Merchandise -37,656 -34,449 -35,553 -35,838
3 Services 5,815 5,573 5,726 5,672
4 Goods and services,
exports 86,848 87,155 85,312 82,822
5 Merchandise 62,170 62,846 60,848 58,688
6 Services 24,678 24,309 24,464 24,134
7 Goods and services,
imports -118,689 -116,031 -115,139 -112,988
8 Merchandise -99,826 -97,295 -96,401 -94,526
9 Services -18,863 -18,736 -18,738 -18,462
2001
Item
Aug. (r) Sept. (r) Oct. (p)
1 Goods and services,
balance -28,017 -19,019 -29,325
2 Merchandise -34,073 -35,531 -35,045
3 Services 6,056 16,512 5,720
4 Goods and services,
exports 83,837 76,775 77,640
5 Merchandise 59,533 55,597 56,590
6 Services 24,304 21,178 21,050
7 Goods and services,
imports -111,854 -95,794 -106,965
8 Merchandise -93,606 -91,128 -91,635
9 Services -18,248 -4,666 -15,330
(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
2001
Asset
1998 1999 2000 May
1 Total 81,761 71,516 67,647 65,254
2 Gold stock (1) 11,046 11,048 11,046 11,044
3 Special drawing rights (2),(3) 10,603 10,336 10,539 10,481
4 Reserve position in Interna-
tional Monetary Fund (2) 24,111 17,950 14,824 14,283
5 Foreign currencies (4) 36,001 32,182 31,238 29,446
2001
Asset
June July Aug. Sept.
1 Total 64,847 65,736 67,852 70,963
2 Gold stock (1) 11,044 11,044 11,044 11,045
3 Special drawing rights (2),(3) 10,409 10,518 10,913 10,919
4 Reserve position in Interna-
tional Monetary Fund (2) 14,619 14,965 15,297 18,404
5 Foreign currencies (4) 28,775 29,209 30,598 30,595
2001
Asset
Oct. Nov. Dec. (p)
1 Total 69,707 69,158 68,654
2 Gold stock (1) 11,045 11,045 11,045
3 Special drawing rights (2),(3) 10,827 10,864 10,774
4 Reserve position in Interna-
tional Monetary Fund (2) 17,787 17,293 17,854
5 Foreign currencies (4) 30,048 29,956 28,981
(1.) Gold held "under earmark" at Federal Reserve Banks for foreign and
international accounts is not included in the gold stock of the United
States; see table 3.13, line 3. Gold stock is valued at $42.22 per fine
troy ounce.
(2.) Special drawing rights (SDRs) are valued according to a technique
adopted by the International Monetary Fund (IMF) in July 1974. Values
are based on a weighted average of exchange rates for the currencies of
member countries. From July 1974 through December 1980, sixteen
currencies were used; since January 1981, five currencies have been
used. U.S. SDR holdings and reserve positions in the IMF also have been
valued on this basis since July 1974.
(3.) Includes allocations of SDRs by the International Monetary Fund on
Jan. 1 of the year indicated, as follows: 1970--$867 million;
1971--$717 million; 1972--$710 million; 1979--$1,139 million;
1980--$1,152 million; 1981--$1,093 million; plus net transactions in
SDRs.
(4.) Valued at current market exchange rates.
3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS (1)
Millions of dollars, end of period
2001
Asset
1998 1999 2000 May
1 Deposits 167 71 215 86
Held in custody
2 U.S. Treasury securities (2) 607,574 632,482 594,094 583,655
3 Earmarked gold (3) 10,343 9,933 9,451 9,154
2001
Asset
June July Aug. Sept.
1 Deposits 102 84 80 608
Held in custody
2 U.S. Treasury securities (2) 586,607 578,573 590,820 587,566
3 Earmarked gold (3) 9,100 9,100 9,100 9,100
2001
Asset
Oct. Nov. Dec. (p)
1 Deposits 75 528 61
Held in custody
2 U.S. Treasury securities (2) 599,043 600,129 592,630
3 Earmarked gold (3) 9,099 9,099 9,099
(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.
Bank-Reported Data
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2001
Item
1999 2000 Apr.
1 Total (1) 806,318 845,869 855,083 (r)
By type
2 Liabilities reported by
banks in the United
States (2) 138,847 144,593 158,372 (r)
3 U.S. Treasury bills and
certificates (3) 156,177 153,010 144,158
U.S. Treasury bonds and
notes
4 Marketable 422,266 415,964 410,066
5 Nonmarketable (4) 6,111 5,348 5,017
6 U.S. securities other than
U.S. Treasury securities
(5) 82,917 126,954 137,470
By area
7 Europe (1) 244,805 253,592 247,128
8 Canada 12,503 12,394 10,474
9 Latin America and Caribbean 73,518 76,753 79,395 (r)
10 Asia 463,703 488,170 501,085
11 Africa 7,523 9,165 9,341
12 Other countries 4,266 5,795 7,660
2001
Item
May June July
1 Total (1) 836,962 (r) 835,417 (r) 845,155
By type
2 Liabilities reported by
banks in the United
States (2) 143,616 (r) 144,414 (r) 151,858
3 U.S. Treasury bills and
certificates (3) 137,933 139,195 143,288
U.S. Treasury bonds and
notes
4 Marketable 410,979 407,736 406,995
5 Nonmarketable (4) 5,049 5,081 4,846
6 U.S. securities other than
U.S. Treasury securities
(5) 139,385 138,991 138,168
By area
7 Europe (1) 251,505 252,391 262,830
8 Canada 10,967 11,573 11,727
9 Latin America and Caribbean 75,861 (r) 79,068 (r) 79,359
10 Asia 482,959 (r) 478,253 (r) 475,475
11 Africa 9,272 9,054 10,574
12 Other countries 6,398 5,078 5,190
2001
Item
Aug. Sept. Oct. (p)
1 Total (1) 839,457 852,175 858,074
By type
2 Liabilities reported by
banks in the United
States (2) 137,621 143,597 140,126
3 U.S. Treasury bills and
certificates (3) 151,850 153,899 158,572
U.S. Treasury bonds and
notes
4 Marketable 407,338 409,887 412,126
5 Nonmarketable (4) 4,805 4,036 3,520
6 U.S. securities other than
U.S. Treasury securities
(5) 137,843 140,756 143,730
By area
7 Europe (1) 260,593 262,568 262,989
8 Canada 12,033 11,299 11,780
9 Latin America and Caribbean 76,251 75,751 75,503
10 Asia 474,650 488,358 491,339
11 Africa 9,864 10,249 10,337
12 Other countries 6,066 3,950 6,126
(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 Dec. (r)
1 Banks' liabilities 117,524 101,125 88,537 77,779
2 Banks' claims 83,038 78,162 67,365 56,912
3 Deposits 28,661 45,985 34,426 23,315
4 Other claims 54,377 32,177 32,939 33,597
5 Claims of banks' domestic
customers (2) 8,191 20,718 20,826 24,411
2001
Item
Mar. June (r) Sept.
1 Banks' liabilities 89,394 108,418 93,194
2 Banks' claims 73,179 77,400 68,703
3 Deposits 29,902 32,765 36,895
4 Other claims 43,277 44,635 31,808
5 Claims of banks' domestic
customers (2) 21,105 21,144 20,844
(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 1,511,380
2 Banks' own
liabilities 884,939 971,536 1,077,606
3 Demand deposits 29,558 42,884 33,365
4 Time deposits (2) 151,761 163,620 187,883
5 Other (3) 140,752 155,853 171,401
6 Own foreign
offices (4) 562,868 609,179 684,957
7 Banks' custodial
liabilities (5) 462,898 437,204 433,774
8 U.S. Treasury
bills and cer-
tificates (6) 183,494 185,676 177,846
9 Short-term agency
securities (7) n.a. n.a. n.a.
10 Other negotiable
and readily
transferable
instruments (8) 141,699 132,617 145,840
11 Other 137,705 118,911 110,088
12 Nonmonetary inter-
national and
regional orga-
nizations (9) 11,883 15,276 12,542
13 Banks' own
liabilities 10,850 14,357 12,140
14 Demand deposits 172 98 41
15 Time
deposits (2) 5,793 10,349 6,246
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 secu-
rities (7) n.a. n.a. n.a.
20 Other negotia-
ble and rea-
dily trans-
ferable in-
struments (8) 397 233 149
21 Other 0 6 1
22 Official institu-
tions (10) 260,060 295,024 297,603
23 Banks' own
liabilities 80,256 97,615 96,989
24 Demand deposits 3,003 3,341 3,952
25 Time
deposits (2) 29,506 28,942 35,573
26 Other (3) 47,747 65,332 57,464
27 Banks' custodial
liabilities
(5) 179,804 197,409 200,614
28 U.S. Treasury
bills and
certificates
(6) 134,177 156,177 153,010
29 Short-term
agency secu-
rities (7) n.a. n.a. n.a.
30 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 44,953 41,182 47,366
31 Other 674 50 238
32 Bank (11) 885,336 900,379 972,902
33 Banks' own
liabilities 676,057 728,492 821,276
34 Unaffiliated
foreign
banks 113,189 119,313 136,319
35 Demand
deposits 14,071 17,583 15,522
36 Time depo-
sits (2) 45,904 48,140 66,904
37 Other (3) 53,214 53,590 53,893
38 Own foreign
offices (4) 562,868 609,179 684,957
39 Banks' custodial
liabilities
(5) 209,279 171,887 151,626
40 U.S. Treasury
bills and
certificates
(6) 35,359 16,796 16,023
41 Short-term
agency secu-
rities (7) n.a. n.a. n.a.
42 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 45,332 45,695 36,036
43 Other 128,588 109,396 99,567
44 Other foreigners 190,558 198,061 228,333
45 Banks' own
liabilities 117,776 131,072 147,201
46 Demand deposits 12,312 21,862 13,850
47 Time
deposits (2) 70,558 76,189 79,160
48 Other (3) 34,906 33,021 54,191
49 Banks' custodial
liabilities (5) 72,782 66,989 81,132
50 U.S. Treasury
bills and cer-
tificates (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 62,289
53 Other 8,443 9,459 10,282
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 27,026 30,345 34,217
55 Repurchase
agreements (7) n.a. n.a. n.a.
56 Total, all
foreigners 1,347,837 1,408,740 1,511,380
57 Foreign countries 1,335,954 1,393,464 1,498,837
58 Europe 427,375 441,810 446,788
59 Austria 3,178 2,789 2,692
60 Belgium (12) 42,818 44,692 33,399
61 Denmark 1,437 2,196 3,000
62 Finland 1,862 1,658 1,411
63 France 44,616 49,790 37,833
64 Germany 21,357 24,753 35,519
65 Greece 2,066 3,748 2,011
66 Italy 7,103 6,775 5,072
67 Luxembourg (12) n.a. n.a. n.a.
68 Netherlands 10,793 8,143 7,047
69 Norway 710 1,327 2,305
70 Portugal 3,236 2,228 2,403
71 Russia 2,439 5,475 19,018
72 Spain 15,781 10,426 7,787
73 Sweden 3,027 4,652 6,497
74 Switzerland 50,654 63,485 74,635
75 Turkey 4,286 7,842 7,548
76 United Kingdom 181,554 172,687 167,757
77 Channel Islands
and Isle of
Man (13) n.a. n.a. n.a.
78 Yugoslavia (14) 233 286 276
79 Other Europe and
other former
U.S.S.R. (15) 30,225 28,858 30,578
80 Canada 30,212 34,214 30,982
81 Latin America 121,327 117,495 120,041
82 Argentina 19,014 18,633 19,451
83 Brazil 15,815 12,865 10,852
84 Chile 5,015 7,008 5,892
85 Colombia 4,624 5,669 4,542
86 Ecuador 1,572 1,956 2,112
87 Guatemala 1,336 1,626 1,601
88 Mexico 37,157 30,717 32,166
89 Panama 3,864 4,415 4,240
90 Peru 840 1,142 1,427
91 Uruguay 2,486 2,386 3,003
92 Venezuela 19,894 20,192 24,730
93 Other Latin
America (16) 9,710 10,886 10,025
94 Caribbean 433,539 461,200 573,337
95 Bahamas 118,085 135,811 189,298
96 Bermuda 6,846 7,874 9,636
97 British West
Indies (17) 302,486 312,278 367,197
98 Cayman
Islands (17) n.a. n.a. n.a.
99 Cuba 62 75 90
100 Jamaica 577 520 794
101 Netherlands
Antilles 5,010 4,047 5,428
102 Trinidad and
Tobago 473 595 894
103 Other
Caribbean (16) n.a. n.a. n.a.
104 Asia 307,960 319,489 305,524
China
105 Mainland 13,441 12,325 16,531
106 Taiwan 12,708 13,603 17,352
107 Hong Kong 20,900 27,701 26,462
108 India 5,250 7,367 4,530
109 Indonesia 8,282 6,567 8,514
110 Israel 7,749 7,488 8,053
111 Japan 168,563 159,075 150,415
112 Korea (South) 12,524 12,988 7,955
113 Philippines 3,324 3,268 2,316
114 Thailand 7,359 6,050 3,117
115 Middle Eastern
oil-exporting
countries (18) 15,609 21,314 23,733
116 Other 32,251 41,743 36,546
117 Africa 8,905 9,468 10,824
118 Egypt 1,339 2,022 2,621
119 Morocco 97 179 139
120 South Africa 1,522 1,495 1,010
121 Congo (formerly
Zaire) 5 14 4
122 Oil-exporting
countries (19) 3,088 2,914 4,052
123 Other 2,854 2,844 2,998
124 Other countries 6,636 9,788 11,341
125 Australia 5,495 8,377 10,070
126 New Zealand (20) n.a. n.a. n.a.
127 All other 1,141 1,411 1,271
128 Nonmonetary
international
and regional
organizations 11,883 15,276 12,543
129 International
(21) 10,221 12,876 11,270
130 Latin American
regional (22) 594 1,150 740
131 Other
regional (23) 1,068 1,250 533
2001
Item
Apr. May June
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all
foreigners 1,530,045 (r) 1,532,049 (r) 1,518,559 (r)
2 Banks' own
liabilities 1,092,745 (r) 1,113,858 (r) 1,095,004 (r)
3 Demand deposits 30,213 (r) 29,123 32,833
4 Time deposits (2) 187,974 (r) 180,063 (r) 179,380 (r)
5 Other (3) 201,904 (r) 206,146 (r) 212,071 (r)
6 Own foreign
offices (4) 672,654 (r) 698,526 (r) 670,720 (r)
7 Banks' custodial
liabilities (5) 437,300 418,191 423,555
8 U.S. Treasury
bills and cer-
tificates (6) 160,702 156,022 156,525
9 Short-term agency
securities (7) 69,543 62,425 60,081
10 Other negotiable
and readily
transferable
instruments (8) 78,258 80,917 78,790
11 Other 128,797 118,827 128,159
12 Nonmonetary inter-
national and
regional orga-
nizations (9) 12,952 (r) 14,668 13,818
13 Banks' own
liabilities 12,463 (r) 14,342 13,479
14 Demand deposits 14 15 28
15 Time
deposits (2) 5,301 3,532 4,228
16 Other (3) 7,148 (r) 10,795 9,223
17 Banks' custodial
liabilities
(5) 489 326 339
18 U.S. Treasury
bills and
certificates
(6) 170 105 68
19 Short-term
agency secu-
rities (7) 144 132 134
20 Other negotia-
ble and rea-
dily trans-
ferable in-
struments (8) 175 87 137
21 Other 0 2 0
22 Official institu-
tions (10) 302,530 (r) 281,549 (r) 283,609 (r)
23 Banks' own
liabilities 103,439 (r) 96,391 (r) 99,996 (r)
24 Demand deposits 2,552 2,522 2,465
25 Time
deposits (2) 31,985 26,625 32,752
26 Other (3) 68,902 (r) 67,244 (r) 64,779 (r)
27 Banks' custodial
liabilities
(5) 199,091 185,158 183,613
28 U.S. Treasury
bills and
certificates
(6) 144,158 137,933 139,195
29 Short-term
agency secu-
rities (7) 51,107 43,193 40,301
30 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 3,325 3,509 3,647
31 Other 501 523 470
32 Bank (11) 965,864 (r) 989,545 (r) 969,095 (r)
33 Banks' own
liabilities 816,257 (r) 844,991 (r) 815,951 (r)
34 Unaffiliated
foreign
banks 143,603 (r) 146,465 (r) 145,231 (r)
35 Demand
deposits 13,030 12,143 15,211
36 Time depo-
sits (2) 71,200 (r) 69,365 (r) 63,199 (r)
37 Other (3) 59,373 (r) 64,957 (r) 66,821 (r)
38 Own foreign
offices (4) 672,654 (r) 698,526 (r) 670,720 (r)
39 Banks' custodial
liabilities
(5) 149,607 144,554 153,144
40 U.S. Treasury
bills and
certificates
(6) 7,233 8,535 8,455
41 Short-term
agency secu-
rities (7) 2,824 3,772 3,169
42 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 25,738 28,319 27,836
43 Other 113,812 103,928 113,684
44 Other foreigners 248,699 (r) 246,287 (r) 252,037 (r)
45 Banks' own
liabilities 160,586 (r) 158,134 (r) 165,578 (r)
46 Demand deposits 14,617 (r) 14,443 15,129
47 Time
deposits (2) 79,488 (r) 80,541 (r) 79,201 (r)
48 Other (3) 66,481 (r) 63,150 (r) 71,248 (r)
49 Banks' custodial
liabilities (5) 88,113 88,153 86,459
50 U.S. Treasury
bills and cer-
tificates (6) 9,141 9,449 8,807
51 Short-term agency
securities (7) 15,468 15,328 16,477
52 Other negotiable
and readily
transferable
instruments (8) 49,020 49,002 47,170
53 Other 14,484 14,374 14,005
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 26,238 25,912 24,884
55 Repurchase
agreements (7) 119,577 119,901 126,508
56 Total, all
foreigners 1,530,045 (r) 1,532,049 (r) 1,518,559 (r)
57 Foreign countries 1,517,092 (r) 1,517,380 (r) 1,504,740 (r)
58 Europe 431,205 (r) 464,032 (r) 457,405 (r)
59 Austria 2,771 2,593 2,026
60 Belgium (12) 5,309 5,895 6,270
61 Denmark 3,412 2,910 3,063
62 Finland 1,769 1,144 2,395
63 France 38,757 (r) 40,209 40,076 (r)
64 Germany 29,591 30,341 32,358
65 Greece 1,336 1,525 1,653
66 Italy 5,272 5,534 6,767
67 Luxembourg (12) 14,455 (r) 14,961 (r) 14,876 (r)
68 Netherlands 10,146 10,772 9,621
69 Norway 4,807 2,573 4,584
70 Portugal 1,949 2,041 2,287
71 Russia 19,917 21,357 22,839
72 Spain 7,750 7,886 7,412
73 Sweden 6,025 5,284 5,507
74 Switzerland 65,967 (r) 93,170 (r) 73,078 (r)
75 Turkey 4,556 7,171 5,487
76 United Kingdom 138,324 (r) 139,007 (r) 145,667 (r)
77 Channel Islands
and Isle of
Man (13) 36,013 34,742 34,994
78 Yugoslavia (14) 303 301 297
79 Other Europe and
other former
U.S.S.R. (15) 32,776 34,616 36,148
80 Canada 27,964 25,984 25,973
81 Latin America 117,379 (r) 113,213 (r) 117,457 (r)
82 Argentina 14,670 (r) 12,390 (r) 16,458 (r)
83 Brazil 10,858 (r) 11,264 (r) 12,586 (r)
84 Chile 5,450 5,702 5,491
85 Colombia 4,620 4,746 4,631
86 Ecuador 2,187 2,140 1,981
87 Guatemala 1,564 1,594 1,515
88 Mexico 34,048 (r) 33,080 (r) 33,239 (r)
89 Panama 3,487 (r) 3,648 (r) 3,520 (r)
90 Peru 1,770 1,535 1,614
91 Uruguay 3,411 3,333 3,026
92 Venezuela 27,892 26,920 26,940
93 Other Latin
America (16) 7,422 (r) 6,861 (r) 6,456
94 Caribbean 605,579 (r) 600,228 (r) 598,071 (r)
95 Bahamas 177,506 190,142 187,469
96 Bermuda 8,317 7,020 7,816
97 British West
Indies (17) n.a. n.a. n.a.
98 Cayman
Islands (17) 401,527 (r) 385,606 (r) 384,259 (r)
99 Cuba 83 84 85
100 Jamaica 867 1,101 963
101 Netherlands
Antilles 4,523 3,402 3,892
102 Trinidad and
Tobago 1,114 1,237 1,272
103 Other
Caribbean (16) 11,642 11,636 12,315
104 Asia 311,663 (r) 291,775 (r) 284,030 (r)
China
105 Mainland 34,689 23,156 15,390
106 Taiwan 19,946 (r) 18,102 (r) 19,844 (r)
107 Hong Kong 26,580 (r) 27,347 (r) 29,179 (r)
108 India 4,113 4,281 4,043
109 Indonesia 10,726 (r) 10,600 (r) 10,565 (r)
110 Israel 7,095 8,282 8,696
111 Japan 144,863 141,250 137,072
112 Korea (South) 5,879 5,854 6,746
113 Philippines 1,669 1,684 1,478
114 Thailand 2,936 3,306 3,316
115 Middle Eastern
oil-exporting
countries (18) 20,517 (r) 19,646 (r) 20,520 (r)
116 Other 32,650 (r) 28,267 (r) 27,181 (r)
117 Africa 10,662 10,622 10,584
118 Egypt 2,213 2,220 2,267
119 Morocco 139 116 102
120 South Africa 794 707 693
121 Congo (formerly
Zaire) 5 2 14
122 Oil-exporting
countries (19) 4,752 4,740 4,645
123 Other 2,759 2,837 2,863
124 Other countries 12,640 11,526 11,220
125 Australia 11,391 10,419 9,855
126 New Zealand (20) 503 437 862
127 All other 746 670 503
128 Nonmonetary
international
and regional
organizations 12,953 (r) 14,669 (r) 13,819
129 International
(21) 11,174 (r) 12,705 (r) 12,549 (r)
130 Latin American
regional (22) 607 (r) 1,146 (r) 705 (r)
131 Other
regional (23) 620 518 523
2001
Item
July Aug.
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all
foreigners 1,519,184 (r) 1,508,339 (r)
2 Banks' own
liabilities 1,098,872 (r) 1,077,567 (r)
3 Demand deposits 29,949 (r) 33,668 (r)
4 Time deposits (2) 174,456 (r) 174,196 (r)
5 Other (3) 225,276 206,037
6 Own foreign
offices (4) 669,191 (r) 663,666 (r)
7 Banks' custodial
liabilities (5) 420,312 430,772
8 U.S. Treasury
bills and cer-
tificates (6) 160,847 170,605
9 Short-term agency
securities (7) 61,471 62,801
10 Other negotiable
and readily
transferable
instruments (8) 76,503 76,676
11 Other 121,491 120,690
12 Nonmonetary inter-
national and
regional orga-
nizations (9) 11,255 13,214
13 Banks' own
liabilities 11,020 12,983
14 Demand deposits 50 21
15 Time
deposits (2) 2,896 2,738
16 Other (3) 8,074 10,224
17 Banks' custodial
liabilities
(5) 235 231
18 U.S. Treasury
bills and
certificates
(6) 78 92
19 Short-term
agency secu-
rities (7) 132 117
20 Other negotia-
ble and rea-
dily trans-
ferable in-
struments (8) 25 21
21 Other 0 1
22 Official institu-
tions (10) 295,146 289,471
23 Banks' own
liabilities 108,991 94,150
24 Demand deposits 2,169 2,934
25 Time
deposits (2) 28,121 26,441
26 Other (3) 78,701 64,775
27 Banks' custodial
liabilities
(5) 186,155 195,321
28 U.S. Treasury
bills and
certificates
(6) 143,288 151,850
29 Short-term
agency secu-
rities (7) 39,971 40,727
30 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 2,686 2,558
31 Other 210 186
32 Bank (11) 957,696 955,544
33 Banks' own
liabilities 811,173 809,835
34 Unaffiliated
foreign
banks 141,982 (r) 146,169 (r)
35 Demand
deposits 12,548 14,585
36 Time depo-
sits (2) 62,794 (r) 64,252 (r)
37 Other (3) 66,640 67,332
38 Own foreign
offices (4) 669,191 (r) 663,666 (r)
39 Banks' custodial
liabilities
(5) 146,523 145,709
40 U.S. Treasury
bills and
certificates
(6) 9,093 9,582
41 Short-term
agency secu-
rities (7) 2,535 2,421
42 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 27,097 27,042
43 Other 107,798 106,664
44 Other foreigners 255,087 (r) 250,110 (r)
45 Banks' own
liabilities 167,688 (r) 160,599 (r)
46 Demand deposits 15,182 (r) 16,128 (r)
47 Time
deposits (2) 80,645 (r) 80,765 (r)
48 Other (3) 71,861 63,706
49 Banks' custodial
liabilities (5) 87,399 89,511
50 U.S. Treasury
bills and cer-
tificates (6) 8,388 9,081
51 Short-term agency
securities (7) 18,833 19,536
52 Other negotiable
and readily
transferable
instruments (8) 46,695 47,055
53 Other 13,483 13,839
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 22,640 24,442
55 Repurchase
agreements (7) 138,328 132,705
56 Total, all
foreigners 1,519,184 (r) 1,508,339 (r)
57 Foreign countries 1,507,928 (r) 1,495,125 (r)
58 Europe 449,629 (r) 431,158 (r)
59 Austria 2,040 2,370
60 Belgium (12) 7,058 6,624
61 Denmark 2,596 3,294
62 Finland 1,574 1,003
63 France 42,709 (r) 39,661 (r)
64 Germany 32,336 27,764
65 Greece 2,288 2,607
66 Italy 5,877 4,761
67 Luxembourg (12) 14,568 14,411
68 Netherlands 11,372 11,537
69 Norway 3,540 3,961
70 Portugal 2,662 2,490
71 Russia 23,966 22,687
72 Spain 6,974 7,286
73 Sweden 4,111 3,233
74 Switzerland 65,942 53,148
75 Turkey 6,194 7,068
76 United Kingdom 137,207 138,121
77 Channel Islands
and Isle of
Man (13) 35,018 35,745
78 Yugoslavia (14) 395 297
79 Other Europe and
other former
U.S.S.R. (15) 41,202 43,090
80 Canada 26,378 28,098
81 Latin America 118,565 (r) 120,738 (r)
82 Argentina 13,296 (r) 11,260 (r)
83 Brazil 14,369 (r) 16,142 (r)
84 Chile 5,443 5,322
85 Colombia 4,397 4,582
86 Ecuador 2,145 2,170
87 Guatemala 1,530 1,466
88 Mexico 34,591 (r) 37,836 (r)
89 Panama 3,700 (r) 3,678 (r)
90 Peru 1,599 1,526
91 Uruguay 2,980 2,993
92 Venezuela 27,604 26,969
93 Other Latin
America (16) 6,911 6,794
94 Caribbean 608,416 (r) 613,570 (r)
95 Bahamas 183,844 184,763
96 Bermuda 8,230 7,419
97 British West
Indies (17) n.a. n.a.
98 Cayman
Islands (17) 400,553 (r) 406,070 (r)
99 Cuba 88 45
100 Jamaica 975 967
101 Netherlands
Antilles 3,207 3,270
102 Trinidad and
Tobago 1,253 1,428
103 Other
Caribbean (16) 10,266 9,608 (r)
104 Asia 283,661 (r) 279,093 (r)
China
105 Mainland 15,586 16,023
106 Taiwan 23,063 (r) 22,756 (r)
107 Hong Kong 26,841 (r) 23,837 (r)
108 India 4,413 4,076
109 Indonesia 11,629 (r) 11,987 (r)
110 Israel 8,710 7,715
111 Japan 134,252 132,305
112 Korea (South) 7,366 7,046
113 Philippines 1,657 1,791
114 Thailand 3,381 3,763
115 Middle Eastern
oil-exporting
countries (18) 19,190 20,542
116 Other 27,573 27,252
117 Africa 12,178 12,194
118 Egypt 3,526 3,647
119 Morocco 118 165
120 South Africa 839 1,324
121 Congo (formerly
Zaire) 5 5
122 Oil-exporting
countries (19) 4,349 3,839
123 Other 3,341 3,214
124 Other countries 9,101 10,274
125 Australia 8,058 9,290
126 New Zealand (20) 501 517
127 All other 542 467
128 Nonmonetary
international
and regional
organizations 11,256 13,214
129 International
(21) 10,241 12,090
130 Latin American
regional (22) 441 509
131 Other
regional (23) 502 558
2001
Item
Sept. Oct. (p)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all
foreigners 1,489,444 (r) 1,556,311
2 Banks' own
liabilities 1,057,601 (r) 1,111,723
3 Demand deposits 34,258 (r) 28,235
4 Time deposits (2) 178,502 (r) 168,511
5 Other (3) 196,294 212,013
6 Own foreign
offices (4) 648,547 (r) 702,964
7 Banks' custodial
liabilities (5) 431,843 444,588
8 U.S. Treasury
bills and cer-
tificates (6) 173,115 179,264
9 Short-term agency
securities (7) 62,114 62,126
10 Other negotiable
and readily
transferable
instruments (8) 74,698 76,832
11 Other 121,916 126,366
12 Nonmonetary inter-
national and
regional orga-
nizations (9) 13,309 15,004
13 Banks' own
liabilities 13,075 14,441
14 Demand deposits 36 40
15 Time
deposits (2) 2,299 2,627
16 Other (3) 10,740 11,774
17 Banks' custodial
liabilities
(5) 234 563
18 U.S. Treasury
bills and
certificates
(6) 118 521
19 Short-term
agency secu-
rities (7) 102 18
20 Other negotia-
ble and rea-
dily trans-
ferable in-
struments (8) 13 13
21 Other 1 11
22 Official institu-
tions (10) 297,496 298,698
23 Banks' own
liabilities 101,385 96,187
24 Demand deposits 3,042 2,507
25 Time
deposits (2) 31,971 25,248
26 Other (3) 66,372 68,432
27 Banks' custodial
liabilities
(5) 196,111 202,511
28 U.S. Treasury
bills and
certificates
(6) 153,899 158,572
29 Short-term
agency secu-
rities (7) 39,961 40,542
30 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 2,230 2,561
31 Other 21 836
32 Bank (11) 929,462 (r) 986,040
33 Banks' own
liabilities 787,760 (r) 838,537
34 Unaffiliated
foreign
banks 139,213 135,573
35 Demand
deposits 14,928 10,144
36 Time depo-
sits (2) 64,816 61,308
37 Other (3) 59,469 64,121
38 Own foreign
offices (4) 648,547 (r) 702,964
39 Banks' custodial
liabilities
(5) 141,702 147,503
40 U.S. Treasury
bills and
certificates
(6) 8,781 9,497
41 Short-term
agency secu-
rities (7) 2,628 2,655
42 Other negotia-
able and rea-
dily trans-
ferable in-
struments (8) 23,889 25,115
43 Other 106,404 110,236
44 Other foreigners 249,177 (r) 256,569
45 Banks' own
liabilities 155,381 (r) 162,558
46 Demand deposits 16,252 (r) 15,544
47 Time
deposits (2) 79,416 (r) 79,328
48 Other (3) 59,713 67,686
49 Banks' custodial
liabilities (5) 93,796 94,011
50 U.S. Treasury
bills and cer-
tificates (6) 10,317 10,674
51 Short-term agency
securities (7) 19,423 18,911
52 Other negotiable
and readily
transferable
instruments (8) 48,566 49,143
53 Other 15,490 15,283
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 23,228 23,632
55 Repurchase
agreements (7) 111,109 127,516
56 Total, all
foreigners 1,489,444 (r) 1,556,311
57 Foreign countries 1,476,135 (r) 1,541,306
58 Europe 414,091 (r) 429,532
59 Austria 2,398 2,136
60 Belgium (12) 6,424 6,961
61 Denmark 3,243 3,542
62 Finland 1,267 1,137
63 France 38,263 (r) 48,465
64 Germany 20,385 23,103
65 Greece 2,440 2,416
66 Italy 5,803 5,424
67 Luxembourg (12) 15,065 14,681
68 Netherlands 11,145 12,173
69 Norway 3,565 3,145
70 Portugal 2,594 2,764
71 Russia 22,942 23,716
72 Spain 8,927 9,812
73 Sweden 3,760 3,482
74 Switzerland 39,576 39,535
75 Turkey 6,203 6,769
76 United Kingdom 139,218 142,678
77 Channel Islands
and Isle of
Man (13) 36,072 36,392
78 Yugoslavia (14) 321 313
79 Other Europe and
other former
U.S.S.R. (15) 44,480 40,888
80 Canada 26,117 25,684
81 Latin America 119,268 (r) 119,772
82 Argentina 15,139 (r) 13,001
83 Brazil 16,979 (r) 16,343
84 Chile 5,740 5,403
85 Colombia 4,449 4,590
86 Ecuador 2,117 2,100
87 Guatemala 1,442 1,479
88 Mexico 37,338 (r) 38,053
89 Panama 3,768 (r) 3,807
90 Peru 1,466 1,520
91 Uruguay 2,684 3,118
92 Venezuela 21,768 23,538
93 Other Latin
America (16) 6,378 6,820
94 Caribbean 596,849 (r) 645,768
95 Bahamas 178,257 212,427
96 Bermuda 7,533 9,359
97 British West
Indies (17) n.a. n.a.
98 Cayman
Islands (17) 393,331 (r) 403,237
99 Cuba 154 86
100 Jamaica 958 869
101 Netherlands
Antilles 4,505 6,006
102 Trinidad and
Tobago 1,410 1,508
103 Other
Caribbean (16) 10,701 (r) 12,276
104 Asia 300,523 (r) 298,830
China
105 Mainland 16,886 17,991
106 Taiwan 22,233 (r) 19,123
107 Hong Kong 24,585 (r) 23,130
108 India 4,024 3,879
109 Indonesia 11,926 (r) 12,340
110 Israel 8,818 7,327
111 Japan 149,610 (r) 157,321
112 Korea (South) 7,723 7,757
113 Philippines 1,884 1,835
114 Thailand 3,347 3,610
115 Middle Eastern
oil-exporting
countries (18) 20,844 18,799
116 Other 28,643 25,718
117 Africa 11,609 12,143
118 Egypt 3,014 2,912
119 Morocco 235 333
120 South Africa 810 944
121 Congo (formerly
Zaire) 2 3
122 Oil-exporting
countries (19) 4,431 4,969
123 Other 3,117 2,982
124 Other countries 7,678 9,577
125 Australia 6,822 8,633
126 New Zealand (20) 437 503
127 All other 419 441
128 Nonmonetary
international
and regional
organizations 13,309 15,005
129 International
(21) 12,224 13,652
130 Latin American
regional (22) 569 480
131 Other
regional (23) 476 822
(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 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 acceptances, 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, data for Belgium-Luxembourg were combined.
(13.) Before January 2001, these data were included in data reported
for the United Kingdom.
(14.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(15.) Includes the Bank for International Settlements and the 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, data for "Other Latin America" and "Other
Caribbean" were combined in "Other Latin America and Caribbean."
(17.) Beginning January 2001, data for the Cayman Islands replaced data
for the British West Indies.
(18.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(19.) Comprises Algeria, Gabon, Libya, and Nigeria.
(20.) Before January 2001, these data were 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 734,995 793,139 904,697
2 Foreign countries 731,378 788,576 900,011
3 Europe 233,321 311,686 378,115
4 Austria 1,043 2,643 2,926
5 Belgium (2) 7,187 10,193 5,399
6 Denmark 2,383 1,669 3,272
7 Finland 1,070 2,020 7,382
8 France 15,251 29,142 40,035
9 Germany 15,923 29,205 36,834
10 Greece 575 806 646
11 Italy 7,284 8,496 7,629
12 Luxembourg (2) n.a. n.a. n.a.
13 Netherlands 5,697 11,810 17,043
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 2,603
18 Sweden 4,223 3,264 9,226
19 Switzerland 46,874 79,158 82,085
20 Turkey 1,982 2,617 3,059
21 United Kingdom 106,349 115,971 144,938
22 Channel Islands and
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 8,077
25 Canada 47,037 37,206 39,858
26 Latin America 79,976 74,040 76,588
27 Argentina 9,552 10,894 11,546
28 Brazil 16,184 16,987 20,567
29 Chile 8,250 6,607 5,815
30 Colombia 6,507 4,524 4,370
31 Ecuador 1,400 760 635
32 Guatemala 1,127 1,135 1,244
33 Mexico 21,212 17,899 17,415
34 Panama 3,584 3,387 2,933
35 Peru 3,275 2,529 2,807
36 Uruguay 1,126 801 673
37 Venezuela 3,089 3,494 3,518
38 Other Latin America (6) 4,670 5,023 5,065
39 Caribbean 262,678 281,128 319,410
40 Bahamas 96,455 99,066 114,090
41 Bermuda 5,011 8,007 9,260
42 British West Indies (7) 153,749 167,189 189,296
43 Cayman 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 77,829
China
50 Mainland 1,261 2,110 1,606
51 Taiwan 1,041 1,390 2,247
52 Hong Kong 9,080 5,903 6,669
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 34,974
57 Korea (South) 8,289 9,426 7,776
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 9,346
61 Other 8,273 5,092 5,225
62 Africa 3,122 2,268 2,094
63 Egypt 257 258 201
64 Morocco 372 352 204
65 South Africa 643 622 309
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 6,117
70 Australia 6,173 6,824 5,868
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
2001
Area or country
Apr. May June
1 Total, all foreigners 990,194 (r) 996,741 (r) 990,763 (r)
2 Foreign countries 987,439 (r) 992,831 (r) 986,065 (r)
3 Europe 443,051 461,025 452,076 (r)
4 Austria 3,728 3,364 2,870
5 Belgium (2) 4,375 5,627 4,254
6 Denmark 2,954 2,505 2,268
7 Finland 8,901 8,800 8,460
8 France 46,378 42,189 48,835
9 Germany 49,062 55,063 51,242
10 Greece 265 285 313
11 Italy 7,274 6,867 8,111
12 Luxembourg (2) 2,012 1,876 1,285
13 Netherlands 22,692 16,488 16,993
14 Norway 5,296 2,915 6,502
15 Portugal 1,535 1,173 1,304
16 Russia 813 715 911
17 Spain 3,445 4,275 3,654 (r)
18 Sweden 11,934 10,986 11,049
19 Switzerland 104,816 137,273 111,492
20 Turkey 2,770 2,596 2,530
21 United Kingdom 156,161 149,064 161,720
22 Channel Islands and
Isle of Man (3) 3,151 3,838 3,275
23 Yugoslavia (4) 49 59 49
24 Other Europe and other
former U.S.S.R. (5) 5,440 5,067 4,959 (r)
25 Canada 45,094 44,583 50,153
26 Latin America 73,864 (r) 73,855 (r) 73,767 (r)
27 Argentina 11,548 (r) 11,740 (r) 11,923
28 Brazil 20,298 (r) 20,728 (r) 21,538
29 Chile 5,630 (r) 5,444 (r) 5,451
30 Colombia 3,720 3,740 3,641
31 Ecuador 526 482 523
32 Guatemala 1,179 (r) 1,234 (r) 1,199
33 Mexico 18,014 (r) 17,961 (r) 17,385
34 Panama 3,158 2,872 3,086
35 Peru 2,773 (r) 2,535 (r) 2,570 (r)
36 Uruguay 367 366 398
37 Venezuela 3,154 3,109 2,982
38 Other Latin America (6) 3,497 (r) 3,644 (r) 3,071
39 Caribbean 333,138 (r) 324,718 (r) 322,561 (r)
40 Bahamas 112,424 112,802 105,772
41 Bermuda 6,781 5,507 5,802
42 British West Indies (7) n.a. n.a. n.a.
43 Cayman Islands (7) 200,022 195,790 200,151 (r)
44 Cuba 1 n.a. n.a.
45 Jamaica 336 396 301
46 Netherlands Antilles 9,384 5,738 5,749
47 Trinidad and Tobago 783 804 946
48 Other Caribbean (6) 3,407 (r) 3,681 (r) 3,840
49 Asia 83,546 81,217 80,927
China
50 Mainland 3,171 2,252 4,387
51 Taiwan 2,258 1,985 2,524
52 Hong Kong 10,462 9,127 9,249
53 India 1,675 1,648 1,634
54 Indonesia 2,033 2,015 1,932
55 Israel 2,526 2,715 2,417
56 Japan 32,908 34,442 32,338
57 Korea (South) 13,971 11,673 11,258
58 Philippines 1,835 1,788 1,831
59 Thailand 1,062 1,380 1,541
60 Middle Eastern
oil-exporting
countries (8) 7,936 9,926 8,621
61 Other 3,709 2,266 3,195
62 Africa 2,035 1,904 2,132
63 Egypt 308 466 530
64 Morocco 185 185 175
65 South Africa 444 289 528
66 Congo (formerly Zaire) n.a. n.a. n.a.
67 Oil-exporting
countries (9) 267 197 142
68 Other 831 767 757
69 Other countries 6,711 5,529 4,449
70 Australia 6,261 5,215 4,121
71 New Zealand (10) 269 136 279
72 All other 181 178 49
73 Nonmonetary international
and regional
organizations (11) 2,755 4,535 4,848
2001
Area or country
July Aug. Sept. (r) Oct. (p)
1 Total, all foreigners 975,363 948,839 958,006 993,758
2 Foreign countries 970,509 944,288 953,530 988,854
3 Europe 441,780 413,717 406,726 413,867
4 Austria 2,714 3,130 3,116 3,847
5 Belgium (2) 9,184 4,451 4,780 6,005
6 Denmark 1,345 1,570 1,672 939
7 Finland 8,666 8,350 10,917 12,065
8 France 56,997 56,342 51,709 60,768
9 Germany 47,378 47,744 37,802 39,576
10 Greece 369 278 288 338
11 Italy 5,466 6,227 6,639 7,728
12 Luxembourg (2) 914 1,010 910 1,087
13 Netherlands 16,875 16,309 18,408 17,258
14 Norway 4,379 3,851 4,835 3,663
15 Portugal 1,050 1,232 1,285 1,169
16 Russia 589 877 676 876
17 Spain 3,955 3,431 4,662 3,837
18 Sweden 11,507 11,651 12,216 11,950
19 Switzerland 96,036 79,942 72,545 71,932
20 Turkey 2,499 2,407 2,307 2,294
21 United Kingdom 161,232 157,531 163,164 158,469
22 Channel Islands and
Isle of Man (3) 3,417 3,162 3,900 3,779
23 Yugoslavia (4) 4 4 4 4
24 Other Europe and other
former U.S.S.R. (5) 7,204 4,218 4,891 6,283
25 Canada 43,308 42,847 50,293 48,772
26 Latin America 73,432 76,376 74,694 74,231
27 Argentina 12,344 13,103 12,120 11,665
28 Brazil 20,941 22,152 22,481 21,481
29 Chile 5,217 5,379 5,240 5,382
30 Colombia 3,625 3,720 3,604 3,560
31 Ecuador 515 505 508 507
32 Guatemala 1,148 1,276 1,262 1,565
33 Mexico 17,476 17,582 16,947 17,277
34 Panama 3,190 3,199 3,212 3,447
35 Peru 2,516 2,422 2,440 2,441
36 Uruguay 410 453 459 492
37 Venezuela 2,913 3,417 3,225 3,222
38 Other Latin America (6) 3,137 3,168 3,196 3,192
39 Caribbean 317,635 326,668 334,309 357,467
40 Bahamas 100,133 99,046 114,763 124,583
41 Bermuda 7,236 6,803 6,974 11,408
42 British West Indies (7) n.a. n.a. n.a. n.a.
43 Cayman Islands (7) 198,918 204,760 198,079 208,899
44 Cuba n.a. n.a. n.a. n.a.
45 Jamaica 326 367 369 380
46 Netherlands Antilles 5,617 10,228 9,818 7,647
47 Trinidad and Tobago 989 1,086 959 890
48 Other Caribbean (6) 4,416 4,378 3,347 3,660
49 Asia 86,714 77,445 80,734 86,992
China
50 Mainland 3,785 2,191 3,462 4,124
51 Taiwan 2,906 2,780 3,276 4,277
52 Hong Kong 7,488 5,743 6,432 5,156
53 India 1,576 1,622 1,576 1,545
54 Indonesia 2,011 1,975 1,944 1,965
55 Israel 4,483 3,621 3,622 3,981
56 Japan 36,953 34,922 32,349 39,922
57 Korea (South) 12,803 10,701 11,788 10,986
58 Philippines 2,333 1,740 2,151 1,537
59 Thailand 1,119 1,440 1,172 1,471
60 Middle Eastern
oil-exporting
countries (8) 8,531 8,267 7,953 8,257
61 Other 2,726 2,443 5,009 3,771
62 Africa 2,038 2,052 1,872 1,841
63 Egypt 391 389 397 345
64 Morocco 173 151 154 150
65 South Africa 608 661 493 449
66 Congo (formerly Zaire) n.a. 2 n.a. n.a.
67 Oil-exporting
countries (9) 130 128 148 169
68 Other 736 721 680 728
69 Other countries 5,602 5,183 4,902 5,684
70 Australia 5,143 4,807 3,982 5,350
71 New Zealand (10) 360 264 329 275
72 All other 99 112 591 59
73 Nonmonetary international
and regional
organizations (11) 4,854 4,551 4,476 4,904
(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
2001
Type of claim
1998 1999 2000 Apr.
1 Total 875,891 944,937 1,095,924 (r) ...
2 Banks' claims 734,995 793,139 904,697 990,194 (r)
3 Foreign
public
borrowers 23,542 35,090 37,907 52,357
4 Own foreign
offices (2) 484,535 529,682 630,137 683,103 (r)
5 Unaffilliated
foreign
banks 106,206 97,186 95,277 95,291 (r)
6 Deposits 27,230 34,538 23,886 21,533
7 Other 78,976 62,648 71,391 73,758 (r)
8 All other
foreigners 120,712 131,181 141,376 159,443 (r)
9 Claims of banks' 140,896 151,798 191,227 (r) ...
domestic
customers (3)
10 Deposits 79,363 88,006 100,352 (r) ...
11 Negotiable and
readily
transferable
instru-
ments (4) 47,914 51,161 78,147 ...
12 Outstanding
collections
and other
claims 13,619 12,631 12,728 ...
MEMO
13 Customer liability
on acceptances 4,520 4,553 4,257 (r) ...
14 Banks' loans under
resale
agreements (5) n.a. n.a. n.a. 126,871
15 Dollar deposits in
banks abroad,
reported by
nonbanking
business
enterprises in
the United
States (6) 39,978 31,125 53,153 60,796
2001
Type of claim
May (r) June (r) July (r)
1 Total ... 1,181,701 ...
2 Banks' claims 996,741 990,763 975,363
3 Foreign
public
borrowers 49,533 52,193 55,762
4 Own foreign
offices (2) 709,123 686,065 660,538
5 Unaffilliated
foreign
banks 79,976 91,486 94,632
6 Deposits 19,717 20,155 24,399
7 Other 60,259 71,331 70,233
8 All other
foreigners 158,309 161,019 164,431
9 Claims of banks' ... 190,938 ...
domestic
customers (3)
10 Deposits ... 93,656 ...
11 Negotiable and
readily
transferable
instru-
ments (4) ... 81,034 ...
12 Outstanding
collections
and other
claims ... 16,248 ...
MEMO
13 Customer liability
on acceptances ... 3,054 ...
14 Banks' loans under
resale
agreements (5) 116,938 129,693 131,731
15 Dollar deposits in
banks abroad,
reported by
nonbanking
business
enterprises in
the United
States (6) 58,137 66,155 60,152
2001
Type of claim
Aug. (r) Sept. (r) Oct. (p)
1 Total ... 1,133,186 ...
2 Banks' claims 948,839 958,006 993,758
3 Foreign
public
borrowers 47,156 45,777 49,252
4 Own foreign
offices (2) 652,434 658,644 679,716
5 Unaffilliated
foreign
banks 84,584 92,216 92,467
6 Deposits 15,590 19,803 22,577
7 Other 68,994 72,413 69,890
8 All other
foreigners 164,665 161,369 172,323
9 Claims of banks' ... 175,180 ...
domestic
customers (3)
10 Deposits ... 89,478 ...
11 Negotiable and
readily
transferable
instru-
ments (4) ... 75,868 ...
12 Outstanding
collections
and other
claims ... 9,834 ...
MEMO
13 Customer liability
on acceptances ... 2,468 ...
14 Banks' loans under
resale
agreements (5) 117,224 111,844 144,250
15 Dollar deposits in
banks abroad,
reported by
nonbanking
business
enterprises in
the United
States (6) 60,299 54,932 57,698
(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 and 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 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 Dec.
1 Total 276,550 250,418 267,082 274,009 (r)
By borrower
2 Maturity of one year
or less 205,781 186,526 187,894 186,103 (r)
3 Foreign public
borrowers 12,081 13,671 22,811 21,399
4 All other foreigners 193,700 172,855 165,083 164,704 (r)
5 Maturity of more than
one year 70,769 63,892 79,188 87,906
6 Foreign public
borrowers 8,499 9,839 12,013 15,838
7 All other foreigners 62,270 54,053 67,175 72,068
By area
Maturity of one year
or less
8 Europe 58,294 68,679 80,842 142,464 (r)
9 Canada 9,917 10,968 7,859 8,323
10 Latin America and
Caribbean 97,207 81,766 69,498 151,840 (r)
11 Asia 33,964 18,007 21,802 43,371 (r)
12 Africa 2,211 1,835 1,122 2,263
13 All other (3) 4,188 5,271 6,771 11,717
Maturity of more than
one year
14 Europe 13,240 14,923 22,951 57,770
15 Canada 2,525 3,140 3,192 3,174
16 Latin America and
Caribbean 42,049 33,442 39,051 82,684
17 Asia 10,235 10,018 11,257 19,536
18 Africa 1,236 1,232 1,065 1,567
19 All other (3) 1,484 1,137 1,672 5,954
2001
Maturity, by borrower
and area (2)
Mar. (r) June (r) Sept. (p)
1 Total 307,613 302,109 298,548
By borrower
2 Maturity of one year
or less 195,032 191,827 180,117
3 Foreign public
borrowers 23,741 26,656 20,259
4 All other foreigners 171,291 165,171 159,858
5 Maturity of more than
one year 112,581 110,282 118,431
6 Foreign public
borrowers 24,951 24,978 24,863
7 All other foreigners 87,630 85,304 93,568
By area
Maturity of one year
or less
8 Europe 89,553 80,682 71,271
9 Canada 7,065 8,639 7,890
10 Latin America and
Caribbean 72,316 72,922 75,927
11 Asia 20,730 24,124 20,049
12 Africa 970 971 831
13 All other (3) 4,398 4,489 4,149
Maturity of more than
one year
14 Europe 38,259 39,944 41,171
15 Canada 3,252 3,995 4,250
16 Latin America and
Caribbean 50,111 47,028 51,859
17 Asia 17,187 15,240 16,822
18 Africa 763 774 692
19 All other (3) 3,009 3,301 3,637
(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 Sept. Dec.
1 Total 721.8 1,051.6 941.6 945.5
2 G-10 countries and
Switzerland 242.8 217.7 219.4 243.4
3 Belgium and Luxembourg 11.0 10.7 15.7 14.3
4 France 15.4 18.4 20.0 29.0
5 Germany 28.6 30.9 37.4 38.7
6 Italy 15.5 11.5 15.0 18.1
7 Netherlands 6.2 7.8 11.7 12.3
8 Sweden 3.3 2.3 3.6 3.0
9 Switzerland 7.2 8.5 8.8 10.3
10 United Kingdom 113.4 85.4 63.5 79.3
11 Canada 13.7 16.8 17.9 16.3
12 Japan 28.6 25.4 25.7 22.1
13 Other industrialized
countries 65.5 69.0 71.7 68.4
14 Austria 1.5 1.4 3.0 3.5
15 Denmark 2.4 2.2 2.1 2.6
16 Finland 1.3 1.4 .9 .9
17 Greece 5.1 5.9 6.6 6.0
18 Norway 3.6 3.2 3.8 3.3
19 Portugal .9 1.4 1.2 1.0
20 Spain 12.6 13.7 15.1 12.1
21 Turkey 4.5 4.8 4.7 4.8
22 Other Western Europe 8.3 10.4 9.2 6.8
23 South Africa 2.2 4.4 4.0 3.8
24 Australia 23.1 20.3 21.1 23.5
25 OPEC (2) 26.0 27.1 30.1 31.4
26 Ecuador 1.3 1.3 .9 .8
27 Venezuela 2.5 3.2 3.0 2.8
28 Indonesia 6.7 4.7 4.4 4.2
29 Middle East countries 14.4 17.0 21.4 23.1
30 African countries 1.2 1.0 .5 .5
31 Non-OPEC developing
countries 139.2 143.4 144.6 149.4
Latin America
32 Argentina 18.4 23.1 22.8 23.2
33 Brazil 28.6 24.7 23.5 27.7
34 Chile 8.7 8.3 7.7 7.4
35 Colombia 3.4 3.2 2.7 2.5
36 Mexico 17.4 18.9 19.4 18.7
37 Peru 2.0 2.2 1.8 1.7
38 Other 4.1 5.4 5.5 5.9
Asia
China
39 Mainland 3.2 3.0 3.3 3.6
40 Taiwan 9.5 13.3 12.3 12.0
41 India 4.9 5.5 7.0 7.7
42 Israel .7 1.1 1.0 1.8
43 Korea (South) 15.6 13.7 16.0 15.2
44 Malaysia 5.1 5.6 6.1 6.1
45 Philippines 5.7 5.1 5.8 6.2
46 Thailand 5.4 4.7 4.0 4.1
47 Other Asia 4.3 2.9 2.9 2.9
Africa
48 Egypt .9 1.3 1.3 1.4
49 Morocco .6 .5 .5 .4
50 Zaire .0 .0 .0 .0
51 Other Africa (3) .8 1.0 1.0 1.0
52 Eastern Europe 9.1 5.5 5.4 5.2
53 Russia (4) 5.1 2.2 2.0 1.6
54 Other 4.0 3.3 3.4 3.6
55 Offshore banking centers 155.1 134.4 122.5 114.5
56 Bahamas 24.2 35.4 18.2 13.7
57 Bermuda 9.8 4.6 8.2 8.0
58 Cayman Islands and
other British
West Indies 43.4 12.8 6.3 1.3
59 Netherlands Antilles 14.6 2.6 9.1 1.7
60 Panama (5) 3.1 3.9 3.9 3.9
61 Lebanon .1 .1 .2 .1
62 Hong Kong, China 32.2 23.3 22.4 21.0
63 Singapore 12.7 11.1 10.6 10.1
64 Other (6) .1 .2 .2 .1
65 Miscellaneous and
unallocated (7) 99.1 495.1 391.2 387.9
2000
Area or country Mar. June Sept. Dec.
1 Total 955.0 991.0 954.4 1,027.3
2 G-10 countries and
Switzerland 272.4 313.6 280.3 300.7
3 Belgium and Luxembourg 14.2 13.9 13.0 14.2
4 France 27.1 32.6 29.0 29.6
5 Germany 37.3 31.5 37.6 45.1
6 Italy 19.9 20.5 18.6 21.3
7 Netherlands 17.0 16.0 17.5 18.4
8 Sweden 3.9 3.5 4.3 3.6
9 Switzerland 10.1 13.8 10.9 13.2
10 United Kingdom 101.9 138.2 112.8 115.6
11 Canada 17.3 18.2 18.5 16.7
12 Japan 23.5 25.4 18.1 23.0
13 Other industrialized
countries 62.7 75.3 73.7 74.5
14 Austria 2.6 2.8 3.5 4.1
15 Denmark 1.5 1.2 1.8 1.9
16 Finland .8 1.2 2.8 1.5
17 Greece 5.7 6.7 6.4 8.3
18 Norway 3.0 4.6 8.5 8.3
19 Portugal 1.0 2.0 1.5 2.0
20 Spain 11.3 12.2 10.5 10.3
21 Turkey 5.1 5.6 5.6 5.9
22 Other Western Europe 8.4 7.9 8.3 6.5
23 South Africa 4.8 4.6 4.2 3.6
24 Australia 18.6 26.3 20.5 22.1
25 OPEC (2) 28.9 32.1 31.4 28.9
26 Ecuador .7 .7 .6 .6
27 Venezuela 3.0 2.9 2.9 2.5
28 Indonesia 3.9 4.1 4.4 4.6
29 Middle East countries 21.1 23.8 22.4 20.3
30 African countries .2 .7 1.2 .8
31 Non-OPEC developing
countries 154.6 158.1 149.5 145.5
Latin America
32 Argentina 22.4 21.6 21.4 21.4
33 Brazil 28.1 28.3 28.5 28.8
34 Chile 8.2 8.1 7.3 7.6
35 Colombia 2.5 2.4 2.4 2.4
36 Mexico 18.3 20.4 17.5 15.7
37 Peru 1.9 2.1 2.1 2.0
38 Other 6.5 6.7 6.2 6.3
Asia
China
39 Mainland 4.6 3.8 3.4 2.9
40 Taiwan 12.6 12.6 12.8 10.8
41 India 7.9 8.2 5.8 9.1
42 Israel 3.3 1.5 1.1 2.7
43 Korea (South) 17.7 21.7 21.4 15.5
44 Malaysia 6.5 6.8 6.9 7.1
45 Philippines 5.3 5.3 4.7 5.1
46 Thailand 4.3 4.0 3.9 4.0
47 Other Asia 2.0 1.9 1.7 1.9
Africa
48 Egypt 1.4 1.3 1.1 1.1
49 Morocco .3 .3 .4 .3
50 Zaire .0 .0 .0 .0
51 Other Africa (3) .9 .9 .8 .7
52 Eastern Europe 6.3 9.4 9.0 10.1
53 Russia (4) 1.7 1.5 1.4 1.0
54 Other 4.7 7.9 7.6 9.1
55 Offshore banking centers 53.9 55.5 53.5 61.7
56 Bahamas 14.4 8.8 9.3 13.5
57 Bermuda 7.3 6.3 6.3 9.0
58 Cayman Islands and
other British
West Indies .0 5.1 5.9 14.6
59 Netherlands Antilles 2.5 2.6 1.9 1.9
60 Panama (5) 3.4 3.3 2.5 3.2
61 Lebanon .1 .1 .1 .1
62 Hong Kong, China 22.2 20.7 20.6 18.7
63 Singapore 4.1 13.6 12.6 15.2
64 Other (6) .1 .1 .1 .2
65 Miscellaneous and
unallocated (7) 376.1 342.1 351.1 391.2
2001
Sept.
Area or country Mar. June (p)
1 Total 1,140.9 1,136.2 (r) 1,278.8
2 G-10 countries and
Switzerland 333.0 335.0 296.8
3 Belgium and Luxembourg 15.3 13.0 14.3
4 France 30.0 35.9 34.4
5 Germany 45.2 51.6 41.1
6 Italy 20.4 23.7 22.8
7 Netherlands 18.8 15.3 16.8
8 Sweden 4.7 4.7 5.3
9 Switzerland 13.9 13.5 13.0
10 United Kingdom 141.3 127.5 100.9
11 Canada 15.4 21.4 21.4
12 Japan 28.0 28.3 26.8
13 Other industrialized
countries 75.7 70.2 (r) 69.4
14 Austria 3.8 3.6 4.4
15 Denmark 3.1 2.7 2.6
16 Finland 1.4 1.2 1.3
17 Greece 4.1 3.6 3.6
18 Norway 10.2 7.9 6.1
19 Portugal 1.9 1.4 1.4
20 Spain 12.6 12.4 13.2
21 Turkey 5.1 4.5 4.1
22 Other Western Europe 7.3 6.9 6.8
23 South Africa 4.1 3.8 4.4
24 Australia 21.9 22.1 21.6
25 OPEC (2) 28.2 27.0 27.5
26 Ecuador .6 .6 .6
27 Venezuela 2.7 2.6 2.6
28 Indonesia 4.4 4.1 3.9
29 Middle East countries 20.1 19.3 20.1
30 African countries .5 .4 .4
31 Non-OPEC developing
countries 144.5 (r) 152.6 195.5
Latin America
32 Argentina 20.9 (r) 19.7 19.2
33 Brazil 29.3 30.8 30.9
34 Chile 7.3 7.0 6.4
35 Colombia 2.4 2.4 2.5
36 Mexico 16.7 16.3 58.3
37 Peru 2.0 2.0 1.9
38 Other 8.5 8.2 8.0
Asia
China
39 Mainland 3.4 6.8 6.1
40 Taiwan 11.1 10.7 10.8
41 India 6.5 11.8 14.1
42 Israel 2.2 2.0 3.2
43 Korea (South) 19.8 19.2 19.4
44 Malaysia 6.5 6.7 6.1
45 Philippines 5.2 5.4 5.3
46 Thailand 4.2 4.2 3.9
47 Other Asia 1.7 1.8 1.6
Africa
48 Egypt 1.2 1.2 1.4
49 Morocco .3 .3 .3
50 Zaire .0 .0 .0
51 Other Africa (3) .7 .7 .7
52 Eastern Europe 9.5 9.5 9.8
53 Russia (4) 1.5 1.5 1.4
54 Other 8.0 8.0 8.5
55 Offshore banking centers 57.9 46.2 51.0
56 Bahamas 7.0 .0 1.0
57 Bermuda 7.9 5.7 7.6
58 Cayman Islands and
other British
West Indies 14.3 12.6 20.7
59 Netherlands Antilles 2.9 1.7 5.8
60 Panama (5) 3.8 3.4 3.4
61 Lebanon .1 .1 .1
62 Hong Kong, China 21.7 22.4 17.9
63 Singapore 14.5 12.9 15.2
64 Other (6) .1 .1 .0
65 Miscellaneous and
unallocated (7) 472.4 478.4 603.4
(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.
Non-Reported Data
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
Type of liability,
and area or country 1997 1998 1999
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
2000
Type of liability,
and area or country Mar. June Sept.
1 Total 53,489 70,534 76,644
2 Payable in dollars 35,614 47,864 51,451
3 Payable in foreign currencies 17,875 22,670 25,193
By type
4 Financial liabilities 29,180 44,068 49,895
5 Payable in dollars 12,858 22,803 26,159
6 Payable in foreign currencies 16,322 21,265 23,736
7 Commercial liabilities 24,309 26,466 26,749
8 Trade payables 12,401 13,764 13,918
9 Advance receipts and other
liabilities 11,908 12,702 12,831
10 Payable in dollars 22,756 25,061 25,292
11 Payable in foreign currencies 1,553 1,405 1,457
By area or country
Financial liabilities
12 Europe 24,050 30,332 36,175
13 Belgium and Luxembourg 4 163 169
14 France 1,849 1,702 1,299
15 Germany 1,880 1,671 2,132
16 Netherlands 1,970 2,035 2,040
17 Switzerland 97 137 178
18 United Kingdom 16,579 21,463 28,601
19 Canada 313 714 249
20 Latin America and Caribbean 846 2,874 3,447
21 Bahamas 1 78 105
22 Bermuda 1 1,016 1,182
23 Brazil 128 146 132
24 British West Indies 489 463 501
25 Mexico 22 26 35
26 Venezuela 0 0 0
27 Asia 3,275 9,453 9,320
28 Japan 2,985 6,024 4,782
29 Middle Eastern oil-
exporting countries (1) 4 5 7
30 Africa 28 33 48
31 Oil-exporting countries (2) 0 0 0
32 All other (3) 668 662 656
Commercial liabilities
33 Europe 8,646 9,293 9,411
34 Belgium and Luxembourg 78 178 201
35 France 539 711 716
36 Germany 914 948 1,023
37 Netherlands 648 562 424
38 Switzerland 536 565 647
39 United Kingdom 2,661 2,982 2,951
40 Canada 2,024 2,053 1,889
41 Latin America and Caribbean 2,286 2,607 2,443
42 Bahamas 9 10 15
43 Bermuda 287 300 377
44 Brazil 115 119 167
45 British West Indies 23 22 19
46 Mexico 805 1,073 1,079
47 Venezuela 193 239 124
48 Asia 9,681 10,965 11,133
49 Japan 2,274 2,200 1,998
50 Middle Eastern oil-
exporting countries (1) 2,308 3,489 3,706
51 Africa 943 950 1,220
52 Oil-exporting countries (2) 536 575 663
53 Other (3) 729 598 653
2000 2001
Type of liability, Mar.
and area or country Dec. (r) June
1 Total 73,904 73,805 68,501
2 Payable in dollars 48,931 46,676 42,207
3 Payable in foreign currencies 24,973 27,129 26,294
By type
4 Financial liabilities 47,419 47,958 42,296
5 Payable in dollars 25,246 23,351 18,043
6 Payable in foreign currencies 22,173 24,607 24,253
7 Commercial liabilities 26,485 25,847 26,205
8 Trade payables 14,293 12,481 13,213
9 Advance receipts and other
liabilities 12,192 13,366 12,992
10 Payable in dollars 23,685 23,325 24,164
11 Payable in foreign currencies 2,800 2,522 2,041
By area or country
Financial liabilities
12 Europe 34,172 37,572 33,173
13 Belgium and Luxembourg 147 112 98
14 France 1,480 1,553 1,222
15 Germany 2,168 2,624 2,463
16 Netherlands 2,016 2,169 1,763
17 Switzerland 104 103 93
18 United Kingdom 26,362 28,962 25,751
19 Canada 411 718 628
20 Latin America and Caribbean 4,125 3,632 2,100
21 Bahamas 6 18 40
22 Bermuda 1,739 1,837 461
23 Brazil 148 26 21
24 British West Indies 406 1,657 1,508
25 Mexico 26 31 20
26 Venezuela 2 1 1
27 Asia 7,965 5,324 5,639
28 Japan 6,216 4,757 3,297
29 Middle Eastern oil-
exporting countries (1) 11 15 8
30 Africa 52 38 61
31 Oil-exporting countries (2) 0 0 0
32 All other (3) 694 674 695
Commercial liabilities
33 Europe 9,629 8,792 8,723
34 Belgium and Luxembourg 293 251 297
35 France 979 689 665
36 Germany 1,047 982 1,017
37 Netherlands 300 349 343
38 Switzerland 502 623 697
39 United Kingdom 2,847 2,542 2,706
40 Canada 1,933 1,625 2,043
41 Latin America and Caribbean 2,381 2,166 2,292
42 Bahamas 31 5 31
43 Bermuda 281 280 367
44 Brazil 114 239 279
45 British West Indies 76 64 21
46 Mexico 841 792 762
47 Venezuela 284 243 218
48 Asia 10,983 11,542 11,384
49 Japan 2,757 2,431 2,377
50 Middle Eastern oil-
exporting countries (1) 2,832 3,359 3,087
51 Africa 948 1,072 1,115
52 Oil-exporting countries (2) 483 566 539
53 Other (3) 614 650 648
(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
2000
Type of claim,
and area or country Mar. June Sept.
1 Total 84,266 80,731 94,803
2 Payable in dollars 74,331 72,300 82,872
3 Payable in foreign currencies 9,935 8,431 11,931
By type
4 Financial claims 47,798 44,303 58,303
5 Deposits 23,316 17,462 30,928
6 Payable in dollars 21,442 15,361 27,974
7 Payable in foreign
currencies 1,874 2,101 2,954
8 Other financial claims 24,482 26,841 27,375
9 Payable in dollars 19,659 22,384 20,541
10 Payable in foreign
currencies 4,823 4,457 6,834
11 Commercial claims 36,468 36,428 36,500
12 Trade receivables 31,443 31,283 31,530
13 Advance payments and other
claims 5,025 5,145 4,970
14 Payable in dollars 33,230 34,555 34,357
15 Payable in foreign
currencies 3,238 1,873 2,143
By area or country
Financial claims
16 Europe 16,789 18,254 23,706
17 Belgium and Luxembourg 540 317 304
18 France 1,835 1,292 1,477
19 Germany 669 576 696
20 Netherlands 1,981 1,984 2,486
21 Switzerland 612 624 626
22 United Kingdom 9,044 11,668 16,191
23 Canada 3,175 5,799 7,517
24 Latin America and Caribbean 21,945 14,874 21,691
25 Bahamas 1,299 655 1,358
26 Bermuda 11 34 22
27 Brazil 1,646 1,666 1,568
28 British West Indies 15,814 7,751 15,722
29 Mexico 1,979 2,048 2,280
30 Venezuela 65 78 101
31 Asia 4,430 3,923 4,002
32 Japan 2,021 1,410 1,726
33 Middle Eastern oil-
exporting countries (1) 29 42 85
34 Africa 232 320 284
35 Oil-exporting
countries (2) 15 39 3
36 All other (3) 1,227 1,133 1,103
Commercial claims
37 Europe 16,118 15,935 16,486
38 Belgium and Luxembourg 271 425 393
39 France 2,520 2,693 2,921
40 Germany 2,034 1,905 2,159
41 Netherlands 1,337 1,242 1,310
42 Switzerland 611 562 684
43 United Kingdom 5,354 4,937 5,193
44 Canada 3,088 3,250 2,953
45 Latin America and Caribbean 5,899 5,792 5,788
46 Bahamas 15 48 75
47 Bermuda 404 381 387
48 Brazil 849 894 981
49 British West Indies 95 51 55
50 Mexico 1,529 1,565 1,612
51 Venezuela 435 466 379
52 Asia 9,101 9,172 8,986
53 Japan 2,082 1,881 2,074
54 Middle Eastern oil-
exporting countries (1) 1,533 1,241 1,199
55 Africa 716 766 895
56 Oil-exporting
countries (2) 82 160 392
57 Other (3) 1,546 1,513 1,392
2000 2001
Type of claim, Mar.
and area or country Dec. (r) June
1 Total 90,157 107,705 98,023 (r)
2 Payable in dollars 79,558 94,932 88,243 (r)
3 Payable in foreign currencies 10,599 12,773 9,780
By type
4 Financial claims 53,031 74,255 61,907 (r)
5 Deposits 23,374 25,419 25,381 (r)
6 Payable in dollars 21,015 23,244 23,174 (r)
7 Payable in foreign
currencies 2,359 2,175 2,207
8 Other financial claims 29,657 48,836 36,526 (r)
9 Payable in dollars 25,142 41,417 32,054 (r)
10 Payable in foreign
currencies 4,515 7,419 4,472
11 Commercial claims 37,126 33,450 36,116 (r)
12 Trade receivables 33,104 28,958 31,168 (r)
13 Advance payments and other
claims 4,022 4,492 4,948
14 Payable in dollars 33,401 30,271 33,015 (r)
15 Payable in foreign
currencies 3,725 3,179 3,101
By area or country
Financial claims
16 Europe 23,136 31,855 23,975
17 Belgium and Luxembourg 296 430 262
18 France 1,206 3,142 1,376
19 Germany 848 1,401 1,163
20 Netherlands 1,396 2,313 1,072
21 Switzerland 699 613 653
22 United Kingdom 15,900 20,938 15,913
23 Canada 4,576 4,847 4,787
24 Latin America and Caribbean 19,317 28,791 24,419 (r)
25 Bahamas 1,353 561 818
26 Bermuda 19 1,729 426
27 Brazil 1,827 1,648 1,877
28 British West Indies 12,596 21,227 16,515 (r)
29 Mexico 2,448 2,461 2,633
30 Venezuela 87 38 66
31 Asia 4,697 7,215 6,829
32 Japan 1,631 3,867 1,698
33 Middle Eastern oil-
exporting countries (1) 80 86 76
34 Africa 411 430 476
35 Oil-exporting
countries (2) 57 42 35
36 All other (3) 894 1,117 1,421
Commercial claims
37 Europe 15,938 13,775 14,602 (r)
38 Belgium and Luxembourg 452 395 408 (r)
39 France 3,095 3,479 3,194 (r)
40 Germany 1,982 1,586 1,995 (r)
41 Netherlands 1,729 757 864 (r)
42 Switzerland 763 634 472
43 United Kingdom 4,502 3,562 3,826 (r)
44 Canada 3,502 3,392 3,498 (r)
45 Latin America and Caribbean 5,851 5,144 6,127 (r)
46 Bahamas 37 20 39
47 Bermuda 376 407 650
48 Brazil 957 975 1,377 (r)
49 British West Indies 137 130 135
50 Mexico 1,507 1,350 1,421 (r)
51 Venezuela 328 292 321
52 Asia 9,630 8,985 9,707 (r)
53 Japan 2,796 2,560 3,157 (r)
54 Middle Eastern oil-
exporting countries (1) 1,024 966 1,054
55 Africa 672 773 673 (r)
56 Oil-exporting
countries (2) 180 165 154
57 Other (3) 1,572 1,381 1,509 (r)
(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.
Security Holdings and Transactions
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2001
Transaction, and area or Jan.-
country 1999 2000 Oct.
U.S. corporate securities
STOCKS
1 Foreign purchases 2,340,659 3,605,196 2,565,480
2 Foreign sales 2,233,137 3,430,306 2,475,617
3 Net purchases, or sales (-) 107,522 174,890 89,863
4 Foreign countries 107,578 174,903 89,688
5 Europe 98,060 164,656 72,948
6 France 3,813 5,727 6,674
7 Germany 13,410 31,752 7,072
8 Netherlands 8,083 4,915 8,526
9 Switzerland 5,650 11,960 2,262
10 United Kingdom 42,902 58,736 33,294
11 Channel Islands and Isle of
Man (1) n.a. n.a. -514
12 Canada -335 5,956 8,779
13 Latin America and Caribbean 5,187 -17,812 -11,051
14 Middle East (2) -1,066 9,189 1,652
15 Other Asia 4,445 12,494 18,307
16 Japan 5,723 2,070 6,302
17 Africa 372 415 -350
18 Other countries 915 5 -597
19 Nonmonetary international
and regional
organizations -56 -11 175
BONDS (3)
20 Foreign purchases 854,692 1,208,386 1,577,707
21 Foreign sales 602,100 871,416 1,237,232
22 Net purchases, or sales (-) 252,592 336,970 340,475
23 Foreign countries 252,994 337,074 340,184
24 Europe 140,674 180,917 178,664
25 France 1,870 2,216 4,428
26 Germany 7,723 4,067 10,373
27 Netherlands 2,446 1,130 2,329
28 Switzerland 4,553 3,973 5,229
29 United Kingdom 106,344 141,223 141,360
30 Channel Islands and Isle of
Man (1) n.a. n.a. 1,527
31 Canada 6,043 13,287 3,676
32 Latin America and Caribbean 58,783 59,444 63,613
33 Middle East (1) 1,979 2,076 1,451
34 Other Asia 42,817 78,794 92,498
35 Japan 17,541 39,356 33,805
36 Africa 1,411 938 735
37 Other countries 1,287 1,618 -453
38 Nonmonetary international
and regional
organizations -402 -70 292
Foreign securities
39 Stocks, net purchases,
or sales (-) 15,640 -13,088 -46,366
40 Foreign purchases 1,177,303 1,802,185 1,209,935
41 Foreign sales 1,161,663 1,815,273 1,256,301
42 Bonds, net purchases,
or sales (-) -5,676 -4,054 31,501
43 Foreign purchases 798,267 958,932 991,664
44 Foreign sales 803,943 962,986 960,163
45 Net purchases, or sales
(-), of stocks and bonds 9,964 -17,142 -14,865
46 Foreign countries 9,679 -17,278 -14,351
47 Europe 59,247 -25,386 -9,186
48 Canada -999 -3,888 2,011
49 Latin America and Caribbean -4,726 -15,688 1,678
50 Asia -42,961 24,488 -6,071
51 Japan -43,637 20,970 -11,466
52 Africa 710 943 -881
53 Other countries -1,592 2,253 -1,902
54 Nonmonetary international
and regional
organizations 285 150 -513
2001
Transaction, and area or
country Apr. May June
U.S. corporate securities
STOCKS
1 Foreign purchases 249,747 276,934 259,635
2 Foreign sales 243,122 259,604 249,196
3 Net purchases, or sales (-) 6,625 17,330 10,439
4 Foreign countries 6,647 17,315 10,418
5 Europe 3,694 9,805 9,307
6 France 105 338 3,044
7 Germany 199 1,025 133
8 Netherlands 1,112 573 334
9 Switzerland 139 448 298
10 United Kingdom 598 4,501 4,006
11 Channel Islands and Isle of
Man (1) -144 59 -168
12 Canada 1,567 628 130
13 Latin America and Caribbean -1,168 3,436 -1,038
14 Middle East (2) -56 -173 234
15 Other Asia 2,966 3,532 1,724
16 Japan 2,048 1,088 1,000
17 Africa -44 9 -82
18 Other countries -312 78 143
19 Nonmonetary international
and regional
organizations -22 15 21
BONDS (3)
20 Foreign purchases 148,930 169,528 158,157
21 Foreign sales 111,505 129,146 125,693
22 Net purchases, or sales (-) 37,425 40,382 32,464
23 Foreign countries 37,399 40,370 32,445
24 Europe 18,169 26,116 14,740
25 France 519 817 618
26 Germany 1,639 1,500 114
27 Netherlands -41 509 576
28 Switzerland 709 399 294
29 United Kingdom 12,477 21,489 12,575
30 Channel Islands and Isle of
Man (1) 318 -218 330
31 Canada 1,158 240 822
32 Latin America and Caribbean 7,546 9,167 7,387
33 Middle East (1) 129 -395 -24
34 Other Asia 10,329 5,412 9,646
35 Japan 344 -480 5,187
36 Africa -33 14 160
37 Other countries 101 -184 -286
38 Nonmonetary international
and regional
organizations 26 12 19
Foreign securities
39 Stocks, net purchases,
or sales (-) -4,675 -8,098 -5,292
40 Foreign purchases 121,345 136,046 122,243
41 Foreign sales 126,020 144,144 127,535
42 Bonds, net purchases,
or sales (-) 5,487 2,267 1,048
43 Foreign purchases 93,828 101,383 101,950
44 Foreign sales 88,341 99,116 100,902
45 Net purchases, or sales
(-), of stocks and bonds 812 -5,831 -4,244
46 Foreign countries 824 -5,976 -4,241
47 Europe 3,616 -4,803 3,392
48 Canada -1,535 931 405
49 Latin America and Caribbean 1,295 3,047 -6,662
50 Asia -1,928 -4,379 -485
51 Japan -3,494 -3,670 -44
52 Africa 93 -132 -47
53 Other countries -717 -640 -844
54 Nonmonetary international
and regional
organizations -12 145 -3
2001
Transaction, and area or Aug. Sept. Oct.
country July (r) (r) (p)
U.S. corporate securities
STOCKS
1 Foreign purchases 244,897 241,950 193,478 255,685
2 Foreign sales 233,422 234,337 204,994 248,438
3 Net purchases, or sales (-) 11,475 7,613 -11,516 7,247
4 Foreign countries 11,460 7,614 -11,505 7,224
5 Europe 6,704 9,258 -7,316 7,471
6 France 35 635 -2,605 1,969
7 Germany 1,048 489 -418 825
8 Netherlands 654 568 358 552
9 Switzerland -228 -140 -688 351
10 United Kingdom 3,750 6,238 -575 3,312
11 Channel Islands and Isle of
Man (1) -42 32 -73 -23
12 Canada 948 -246 1,137 193
13 Latin America and Caribbean 65 -3,062 -4,779 -1,507
14 Middle East (2) 513 830 668 -514
15 Other Asia 3,220 614 -879 1,551
16 Japan 1,956 51 -806 1,148
17 Africa -20 72 -37 -31
18 Other countries 30 148 -299 61
19 Nonmonetary international
and regional
organizations 15 -1 -11 23
BONDS (3)
20 Foreign purchases 138,841 157,635 156,454 192,441
21 Foreign sales 111,998 132,936 137,718 144,773
22 Net purchases, or sales (-) 26,843 24,699 18,736 47,668
23 Foreign countries 26,951 24,501 18,581 47,840
24 Europe 11,904 9,625 9,788 22,352
25 France 1,154 -1,035 -573 601
26 Germany -185 472 454 1,666
27 Netherlands -210 -297 457 83
28 Switzerland 291 628 -51 292
29 United Kingdom 9,507 8,759 9,801 17,261
30 Channel Islands and Isle of
Man (1) 203 106 93 355
31 Canada 485 -1,434 -646 1,335
32 Latin America and Caribbean 6,222 8,961 2,518 2,270
33 Middle East (1) -345 -22 8 307
34 Other Asia 8,815 7,569 7,281 21,043
35 Japan 3,452 1,641 1,066 15,243
36 Africa 79 136 -6 272
37 Other countries -209 -334 -362 261
38 Nonmonetary international
and regional
organizations -108 198 155 -172
Foreign securities
39 Stocks, net purchases,
or sales (-) -5,031 -1,780 4,239 -3,172
40 Foreign purchases 115,956 96,370 101,518 105,817
41 Foreign sales 120,987 98,150 97,279 108,989
42 Bonds, net purchases,
or sales (-) 5,629 9,405 10,319 -677
43 Foreign purchases 91,585 87,584 87,076 93,404
44 Foreign sales 85,956 78,179 76,757 94,081
45 Net purchases, or sales
(-), of stocks and bonds 598 7,625 14,558 -3,849
46 Foreign countries 630 7,485 14,560 -3,655
47 Europe 1,026 6,532 6,033 -4,085
48 Canada 299 -1,778 1,295 -804
49 Latin America and Caribbean -444 759 2,658 -575
50 Asia 69 1,601 4,403 2,462
51 Japan 118 596 1,477 1,447
52 Africa -111 -24 -34 -565
53 Other countries -209 395 205 -88
54 Nonmonetary international
and regional
organizations -32 140 -2 -194
(1.) Before January 2001, data 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
Jan.-
Area or country 1999 2000 Oct.
1 Total estimated -9,953 -54,032 -4,664
2 Foreign countries -10,518 -53,571 -4,238
3 Europe -38,228 -50,704 -14,860
4 Belgium (2) -81 73 -791
5 Germany 2,285 -7,304 -2,797
6 Luxembourg (2) n.a. n.a. 501
7 Netherlands 2,122 2,140 -5,079
8 Sweden 1,699 1,082 -1,261
9 Switzerland -1,761 -10,326 863
10 United Kingdom -20,232 -33,669 -1,741
11 Channel Islands and
Isle of Man (3) n.a. n.a. -50
12 Other Europe and
former U.S.S.R. -22,260 -2,700 -4,505
13 Canada 7,348 -550 -6,683
14 Latin America and
Caribbean -7,523 -4,914 5,148
15 Venezuela 362 1,288 184
16 Other Latin America
and Caribbean 1,661 -11,581 11,091
17 Netherlands Antilles -9,546 5,379 -6,127
18 Asia 29,359 1,639 11,707
19 Japan 20,102 10,580 11,648
20 Africa -3,021 -414 -640
21 Other 1,547 1,372 1,090
22 Nonmonetary international
and regional
organizations 565 -461 -426
23 International 190 -483 -396
24 Latin American
Caribbean regional 666 76 23
MEMO
25 Foreign countries -10,518 -53,571 -4,238
26 Official institutions -9,861 -6,302 -3,838
27 Other foreign -657 -47,269 -400
Oil-exporting countries
28 Middle East (4) 2,207 3,483 -3,794
29 Africa (5) 0 0 -2
2001
Area or country Apr. May June
1 Total estimated -13,711 3,076 -3,445
2 Foreign countries -13,517 2,831 -3,237
3 Europe -5,599 -498 -2,522
4 Belgium (2) 240 -216 -25
5 Germany 1,769 1,176 -1,517
6 Luxembourg (2) 204 92 145
7 Netherlands -2,488 -1,730 1,117
8 Sweden 195 -386 -663
9 Switzerland 116 -912 -3
10 United Kingdom -4,736 1,120 -3,180
11 Channel Islands and
Isle of Man (3) -31 -9 22
12 Other Europe and
former U.S.S.R. -868 367 1,582
13 Canada 1,248 745 161
14 Latin America and
Caribbean -7,095 140 -3,812
15 Venezuela -148 51 -126
16 Other Latin America
and Caribbean -3,228 1,587 -545
17 Netherlands Antilles -3,719 -1,498 -3,141
18 Asia -2,928 2,704 3,464
19 Japan 3,099 4,658 -3,920
20 Africa 27 -6 -12
21 Other 830 -254 -516
22 Nonmonetary international
and regional
organizations -194 245 -208
23 International -213 393 -52
24 Latin American
Caribbean regional 25 -4 -2
MEMO
25 Foreign countries -13,517 2,831 -3,237
26 Official institutions -9,040 913 -3,243
27 Other foreign -4,477 1,918 6
Oil-exporting countries
28 Middle East (4) -383 -120 316
29 Africa (5) 0 1 3
2001
Oct.
Area or country July Aug. Sept. (p)
1 Total estimated -11,494 4,410 -1,922 (r) 14,969
2 Foreign countries -11,668 4,590 -2,070 (r) 14,884
3 Europe -8,223 321 -704 (r) 2,339
4 Belgium (2) -343 42 174 -146
5 Germany -970 67 -113 -392
6 Luxembourg (2) 168 -64 -348 285
7 Netherlands 1,263 2,437 -2,653 -1,336
8 Sweden -114 593 1,037 -109
9 Switzerland 270 -44 979 -339
10 United Kingdom -7,844 -4,610 2,070 (r) 7,359
11 Channel Islands and
Isle of Man (3) -64 11 -1 -34
12 Other Europe and
former U.S.S.R. -589 1,889 -1,849 -2,949
13 Canada -1,653 -356 -947 -3,091
14 Latin America and
Caribbean 1,893 3,711 -541 3,998
15 Venezuela 248 -128 39 -129
16 Other Latin America
and Caribbean -880 67 -524 4,065
17 Netherlands Antilles 2,525 3,772 -56 62
18 Asia -3,940 576 -160 11,755
19 Japan -2,126 324 -3,339 16,640
20 Africa -65 -120 47 -396
21 Other 320 458 235 279
22 Nonmonetary international
and regional
organizations 174 -180 148 85
23 International -90 103 -65 8
24 Latin American
Caribbean regional -1 -3 0 1
MEMO
25 Foreign countries -11,668 4,590 -2,070 (r) 14,884
26 Official institutions -741 343 2,549 2,239
27 Other foreign -10,927 4,247 -4,619 (r) 12,645
Oil-exporting countries
28 Middle East (4) -590 -308 -586 12
29 Africa (5) 2 -2 -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 the data reported
for the 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 1999 2000 2001
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 64.54 58.15 51.69
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 1.8207 1.8301 2.3527
5 Canada/dollar 1.4858 1.4855 1.5487
6 China, P.R./yuan 8.2783 8.2784 8.2770
7 Denmark/krone 6.9900 8.0953 8.3323
8 European Monetary Union/
euro (3) 1.0653 0.9232 0.8952
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 306.30 365.92 n.a.
13 Hong Kong/dollar 7.7594 7.7924 7.7997
14 India/rupee 43.13 45.00 47.22
15 Ireland/pound (2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 113.73 107.80 121.57
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.553 9.459 9.337
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar (2) 52.94 45.68 42.02
22 Norway/krone 7.8071 8.8131 8.9964
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.6951 1.7250 1.7930
25 South Africa/rand 6.1191 6.9468 8.6093
26 South Korea/won 1,189.84 1,130.90 1,292.01
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 70.868 76.964 89.602
29 Sweden/krona 8.2740 9.1735 10.3425
30 Switzerland/franc 1.5045 1.6904 1.6891
31 Taiwan/dollar 32.322 31.260 33.824
32 Thailand/baht 37.887 40.210 44.532
33 United Kingdom/pound (2) 161.72 151.56 143.96
34 Venezuela/bolivar 606.82 680.52 724.10
Indexes (4)
NOMINAL
35 Broad (January 1997=100)
(5) 116.87 119.67 126.09
36 Major currencies
(March 1973=100) (6) 94.07 98.32 104.32
37 Other important trading
partners (January
1997=100) (7) 129.94 130.33 136.34
REAL
38 Broad (March 1973=100)
(5) 99.37 102.85 108.88
39 Major currencies (March
1973=100) (6) 97.07 103.18 110.78
40 Other important trading
partners (March
1973=100) (7) 109.61 109.88 114.34
2001
Item July Aug.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 50.89 52.46
2 Austria/schilling n.a. n.a.
3 Belgium/franc n.a. n.a.
4 Brazil/real 2.4731 2.5122
5 Canada/dollar 1.5308 1.5399
6 China, P.R./yuan 8.2769 8.2770
7 Denmark/krone 8.6442 8.2632
8 European Monetary Union/
euro (3) 0.8615 0.9014
9 Finland/markka n.a. n.a.
10 France/franc n.a. n.a.
11 Germany/deutsche mark n.a. n.a.
12 Greece/drachma n.a. n.a.
13 Hong Kong/dollar 7.7999 7.7997
14 India/rupee 47.18 47.17
15 Ireland/pound (2) n.a. n.a.
16 Italy/lira n.a. n.a.
17 Japan/yen 124.50 121.37
18 Malaysia/ringgit 3.8000 3.8000
19 Mexico/peso 9.168 9.133
20 Netherlands/guilder n.a. n.a.
21 New Zealand/dollar (2) 40.81 43.14
22 Norway/krone 9.2566 8.9427
23 Portugal/escudo n.a. n.a.
24 Singapore/dollar 1.8233 1.7613
25 South Africa/rand 8.2094 8.3115
26 South Korea/won 1,305.24 1,285.65
27 Spain/peseta n.a. n.a.
28 Sri Lanka/rupee 90.314 89.994
29 Sweden/krona 10.7603 10.3329
30 Switzerland/franc 1.7570 1.6808
31 Taiwan/dollar 34.821 34.639
32 Thailand/baht 45.641 44.907
33 United Kingdom/pound (2) 141.48 143.72
34 Venezuela/bolivar 722.72 731.97
Indexes (4)
NOMINAL
35 Broad (January 1997=100)
(5) 127.65 (r) 125.62 (r)
36 Major currencies
(March 1973=100) (6) 106.11 (r) 103.84 (r)
37 Other important trading
partners (January
1997=100) (7) 137.20 (r) 135.95 (r)
REAL
38 Broad (March 1973=100)
(5) 110.41 (r) 108.49 (r)
39 Major currencies (March
1973=100) (6) 112.62 (r) 110.07 (r)
40 Other important trading
partners (March
1973=100) (7) 115.60 (r) 114.32 (r)
2001
Item Sept. Oct.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 50.36 50.42
2 Austria/schilling n.a. n.a.
3 Belgium/franc n.a. n.a.
4 Brazil/real 2.6767 2.7408
5 Canada/dollar 1.5679 1.5717
6 China, P.R./yuan 8.2768 8.2768
7 Denmark/krone 8.1654 8.2186
8 European Monetary Union/
euro (3) 0.9114 0.9050
9 Finland/markka n.a. n.a.
10 France/franc n.a. n.a.
11 Germany/deutsche mark n.a. n.a.
12 Greece/drachma n.a. n.a.
13 Hong Kong/dollar 7.7997 7.7999
14 India/rupee 47.75 48.05
15 Ireland/pound (2) n.a. n.a.
16 Italy/lira n.a. n.a.
17 Japan/yen 118.61 121.45
18 Malaysia/ringgit 3.8000 3.8001
19 Mexico/peso 9.425 9.339
20 Netherlands/guilder n.a. n.a.
21 New Zealand/dollar (2) 41.73 41.39
22 Norway/krone 8.7691 8.8329
23 Portugal/escudo n.a. n.a.
24 Singapore/dollar 1.7494 1.8113
25 South Africa/rand 8.6756 9.2804
26 South Korea/won 1,293.83 1,302.36
27 Spain/peseta n.a. n.a.
28 Sri Lanka/rupee 90.157 90.954
29 Sweden/krona 10.6353 10.5661
30 Switzerland/franc 1.6338 1.6357
31 Taiwan/dollar 34.575 34.583
32 Thailand/baht 44.331 44.750
33 United Kingdom/pound (2) 146.38 145.01
34 Venezuela/bolivar 743.46 743.22
Indexes (4)
NOMINAL
35 Broad (January 1997=100)
(5) 125.97 (r) 126.86 (r)
36 Major currencies
(March 1973=100) (6) 103.40 (r) 104.37 (r)
37 Other important trading
partners (January
1997=100) (7) 137.49 (r) 138.08 (r)
REAL
38 Broad (March 1973=100)
(5) 108.97 (r) 109.26 (r)
39 Major currencies (March
1973=100) (6) 109.94 (r) 110.84 (r)
40 Other important trading
partners (March
1973=100) (7) 115.58 (r) 115.13 (r)
2001
Item Nov. Dec.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 51.65 51.38
2 Austria/schilling n.a. n.a.
3 Belgium/franc n.a. n.a.
4 Brazil/real 2.5481 2.3635
5 Canada/dollar 1.5922 1.5788
6 China, P.R./yuan 8.2769 8.2761
7 Denmark/krone 8.3832 8.3526
8 European Monetary Union/
euro (3) 0.8883 0.8912
9 Finland/markka n.a. n.a.
10 France/franc n.a. n.a.
11 Germany/deutsche mark n.a. n.a.
12 Greece/drachma n.a. n.a.
13 Hong Kong/dollar 7.7996 7.7989
14 India/rupee 48.04 47.93
15 Ireland/pound (2) n.a. n.a.
16 Italy/lira n.a. n.a.
17 Japan/yen 122.41 127.59
18 Malaysia/ringgit 3.8000 3.8000
19 Mexico/peso 9.225 9.157
20 Netherlands/guilder n.a. n.a.
21 New Zealand/dollar (2) 41.58 41.57
22 Norway/krone 8.9296 8.9713
23 Portugal/escudo n.a. n.a.
24 Singapore/dollar 1.8295 1.8382
25 South Africa/rand 9.7388 11.6761
26 South Korea/won 1,282.10 1,292.29
27 Spain/peseta n.a. n.a.
28 Sri Lanka/rupee 92.670 93.194
29 Sweden/krona 10.6117 10.5753
30 Switzerland/franc 1.6509 1.6566
31 Taiwan/dollar 34.498 34.682
32 Thailand/baht 44.411 43.952
33 United Kingdom/pound (2) 143.56 144.13
34 Venezuela/bolivar 745.10 753.64
Indexes (4)
NOMINAL
35 Broad (January 1997=100)
(5) 127.33 (r) 127.52
36 Major currencies
(March 1973=100) (6) 105.64 (r) 106.30
37 Other important trading
partners (January
1997=100) (7) 137.19 (r) 136.62
REAL
38 Broad (March 1973=100)
(5) 109.65 (r) 109.82
39 Major currencies (March
1973=100) (6) 112.53 (r) 113.39
40 Other important trading
partners (March
1973=100) (7) 113.94 (r) 113.30
(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
1,936.27 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 2002 Bulletin, revised index values
resulting from the periodic revision of data that underlie the
calculated trade weights are reported. For more information on the
indexes of the 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.
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