Financial and business statistics.
A3 GUIDE TO TABLES
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
A4 Reserves and money stock measures
A5 Reserves of depository institutions and Reserve Bank
credit
A6 Reserves and borrowings--Depository
institutions
Policy Instruments
A7 Federal Reserve Bank interest rates
A8 Reserve requirements of depository institutions
A9 Federal Reserve open market transactions
Federal Reserve Banks
A10 Condition and Federal Reserve note statements
A11 Maturity distribution of loans and securities
Monetary and Credit Aggregates
A12 Aggregate reserves of depository institutions
and monetary base
A13 Money stock measures
Commercial Banking Institutions--Assets
and Liabilities
A15 All commercial banks in the United States
A16 Domestically chartered commercial banks
A17 Large domestically chartered commercial banks
A19 Small domestically chartered commercial banks
A20 Foreign-related institutions
Financial Markets
A22 Commercial paper outstanding
A22 Prime rate charged by banks on short-term
business loans
A23 Interest rates--Money and capital markets
A24 Stock market--Selected statistics
Federal Finance
A25 Federal debt subject to statutory limitation
A25 Gross public debt of U.S. Treasury--Types
and ownership
A26 U.S. government securities
dealers--Transactions
A27 U.S. government securities dealers--Positions
and financing
A28 Federal and federally sponsored credit
agencies--Debt outstanding
Securities Markets and Corporate Finance
A29 New security issues Tax-exempt state and local
governments and U.S. corporations
A30 Open-end investment companies--Net sales
and assets
A30 Domestic finance companies--Assets and liabilities
A31 Domestic finance companies--Owned and managed
receivables
Real Estate
A32 Mortgage markets--New homes
A33 Mortgage debt outstanding
Consumer Credit
A34 Total outstanding
A34 Terms
Flow of Funds
A35 Funds raised in U.S. credit markets
A37 Summary of financial transactions
A38 Summary of credit market debt outstanding
A39 Summary of financial assets and liabilities
DOMESTIC NONFINANCIAL STATISTICS
Selected Measures
A40 Output, capacity, and capacity utilization
A42 Industrial production--Indexes and gross value
INTERNATIONAL STATISTICS
Summary Statistics
A44 U.S. international transactions
A44 U.S. reserve assets
A45 Foreign official assets held at Federal Reserve
Banks
A45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
A45 Liabilities to, and claims on, foreigners
A46 Liabilities to foreigners
A48 Banks' own claims on foreigners
A49 Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
A50 Liabilities to unaffiliated foreigners
A52 Claims on unaffiliated foreigners
Securities Holdings and Transactions
A54 Foreign transactions in securities
A55 Marketable U.S. Treasury bonds and
notes--Foreign transactions
Interest and Exchange Rates
A56 Foreign exchange rates
A57 GUIDE TO SPECIAL TABLES AND
STATISTICAL RELEASES
A70 INDEX TO STATISTICAL TABLES
A72 BOARD OF GOVERNORS AND STAFF
A74 FEDERAL OPEN MARKET COMMITTEE AND
STAFF; ADVISORY COUNCILS
A76 FEDERAL RESERVE BOARD PUBLICATIONS
A78 MAPS OF THE FEDERAL RESERVE SYSTEM
A80 FEDERAL RESERVE BANKS, BRANCHES,
AND OFFICES
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 beading
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 Federal Agricultural Mortgage Corporation
FFB Federal Financing Bank
FFIEC Federal Financial Institutions Examination Council
FHA Federal Housing Administration
FHLBB Federal Home Loan Bank Board
FHLMC Federal Home Loan Mortgage Corporation
FmHA Farmers Home Administration
FNMA Federal National Mortgage Association
FSA Farm Service Agency
FSLIC Federal Savings and Loan Insurance Corporation
G-7 Group of Seven
G- 10 Group of Ten
GDP Gross domestic product
GNMA Government National Mortgage Association
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 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.
1.10 RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted (1)
Monetary or credit aggregate 2002 2003
Q3 Q4 Q1 Q2
Reserves of depository
institutions (3)
1 Total -2.2 1.0 11.3 6.7
2 Required -1.9 -1.4 11.4 8.1
3 Nonbonuwed -3.7 1.9 12.8 6.2
4 Monclary bane 6.9 5.1 7.6 5.9
Cormepty of money (4)
5 M1 3.0 4.9 7.5 9.2
6 M2 8.8 7.0 6.4 8.4
7 M3 7.2 7.8 5.6 6.3
Nontransaction components
8 In M2 (5) 10.4 7.6 6.0 8.2
9 In M3 only (6) 3.6 9.5 3.9 1.8
Time and savings deposits
Commercial banks
10 Saving, including MMDAs 20.1 16.8 13.6 16.5
11 Small time (7) -4.0 -7.4 -7.1 -8.6
12 Large time (8,9) .5 -5.6 -4.5 2.1
Thirft institutions
13 Saving including MMDAs 20.6 20.0 21.9 24.6
14 Small time (7) -10.5 -6.0 -6.6 -9.0
15 Large time (8) -2.6 11.9 8.9 -2.1
Money market mutual
funds
16 Retail .9 -6.3 -10.0 -8.2
17 Institution-only -.7 2.1 -4.9 -14.7
Repurchase agreements
and eurodollars
19 Repurchase agreements (10) 28.7 47.7 31.4 27.8
19 Eurodollar (10) -3.5 28.9 19.2 32.1 (r)
Monetary or credit aggregate
Apr. May June
Reserves of depository
institutions (3)
1 Total 4.9 5.3 53.0
2 Required -1.9 2.8 48.0
3 Nonbonuwed -5.1 4.5 49.9
4 Monclary bane 5.3 5.1 3.4
Cormepty of money (4)
5 M1 .4 20.3 13.3
6 M2 4.6 17.8 9.5
7 M3 2.5 (r) 12.9 (r) 9.1 (r)
Nontransaction components
8 In M2 (5) 5.8 17.1 8.5
9 In M3 only (6) -2.2 (r) -2.2 (r) 8.2 (r)
Time and savings deposits
Commercial banks
10 Saving, including MMDAs 17.7 23.5 21.5
11 Small time (7) -8.5 -10.2 -10.9
12 Large time (8,9) -1.0 7.0 -6.6
Thirft institutions
13 Saving including MMDAs 19.1 40.5 13.2
14 Small time (7) -7.3 -11.8 -13.2
15 Large time (8) 2.0 -10.2 11.3
Money market mutual
funds
16 Retail -20.1 9.1 -7.9
17 Institution-only -22.4 20.1 20.3
Repurchase agreements
and eurodollars
18 Repurchase agreements (10) 23.8 19.3 6.3
19 Eurodollar (10) 37.1 (r) 62.3 (r) -1.8 (r)
2003
Monetary or credit aggregate July Aug.
Reserves of depository
institutions (3)
1 Total 31.7 64.7
2 Required 31.1 (r) 14.8
3 Nonbonuwed 32.7 59.4
4 Monclary bane .6 9.7
Cormepty of money (4)
5 M1 5.3 7.0
6 M2 9.6 7.9
7 M3 22.0 3.2
Nontransaction components
8 In M2 (5) 10.8 8.1
9 In M3 only (6) 49.4 (r) -7.0
Time and savings deposits
Commercial banks
10 Saving, including MMDAs 28.1 18.9
11 Small time (7) -19.1 -16.8
12 Large time (8,9) 153.1 (r) -2.5
Thirft institutions
13 Saving including MMDAs 21.4 22.2
14 Small time (7) -14.6 -16.8
15 Large time (8) 34.6 15.8
Money market mutual
funds
16 Retail -15.0 -9.0
17 Institution-only 42.1 -19.6
Repurchase agreements
and eurodollars
18 Repurchase agreements (10) -57.9 -8.5
19 Eurodollar (10) 29.2 (r) 29.4
(1.) Unless otherwise noted rates of change are calculated from
average amounts outstand-ing during preceding month or quarter.
(2.) Figures incorporate adjustments (See also table 1.20).
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted currency component of the money stock, plus
(3) (for all quarterly reporters on teh "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 is as follows:
MI: (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
checkabel 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 MI 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 accoutns (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 separetely, and adding this result to seasonally
adjusted MI.
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 al 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.
(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.
addresses, 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 RESERVE BALANCES OF DEPOSITORY INSTITUTIONS (1)
Millions of dollars
Average of daily figures
Factor 2003
June July Aug
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 715,547 716,576 718,212
2 Securities held outright 651,774 692,630 653,374
3 U.S. Treasury (2) 651,764 652,620 653,364
4 Bills (3) 238,596 239,480 240,227
5 Notes and bonds nominal (3) 398,853 398,853 398,853
6 Notes and bond, inflation-
indexed (3) 12,814 12,814 12,814
7 Inflation compensation (4) 1,500 1,473 1,470
8 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 25,074 24,153 25,774
10 Loans to depository institutions 174 114 330
11 Primary credit 100 5 168
12 Secondary credit 0 0 0
13 Seasonal credit 74 109 147
14 Float -166 147 346
14 Other Federal Reserve Assets 38,692 39,532 38,387
16 Gold stock 11,044 11,044 11,043
17 Special drawing right certificate
account 2,200 2,200 2,200
18 Treasury currency oulstanding 35,022 35,104 (r) 35,171
ABSORBING RESERVE FUNDS
19 Currency in circulation 691,893 694,590 (r) 695,319
20 Reverse repurchase agreements (6) 22,038 20,180 19,541
21 Foreign official and
international accounts 21,530 20,180 19,541
22 Dealers 508 0 0
23 Treasury holdings 375 334 354
24 Deposits with Federal Reserve
Banks, other than
reserve balances 18,169 17,943 17,322
25 U.S. Treasury, general account 6,747 6,213 5,599
26 Foreign official 157 224 151
27 Service-related 11,028 11,192 11,280
28 Required clearing balances 10,832 10,864 10,909
29 Adjustments to compensate
for float 196 327 372
30 Other 237 315 292
31 Other liabilities and capital 20,170 19,956 20,112
32 Reserve balances with Federal
Reserve Banks (7) 11,168 11,921 13,958
End-of-month figures
June July Aug
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 722,933 721,467 726,172
2 Securities held outright 652,128 652,913 653,909
3 U.S. Treasury (2) 652,118 652,903 653,899
4 Bills (3) 238,965 239,773 240,754
5 Notes and bonds, nominal (3) 398,893 398,853 398,853
6 Note and bonds, inflation-
indexed (3) 12,814 12,814 12,814
7 Inflation compensation (3) 1,485 1,462 1,478
9 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 31,750 29,000 35,005
10 Loans to depository institutions 768 145 158
11 Primary credit 686 11 0
12 Secondary credit 0 0 0
13 Seasonal credit 82 133 158
14 Float -525 -195 -265
15 Other Federal Reserve assets 38,812 39,605 37,171
16 Gold stuck 11,044 11,0143 11,043
17 Special drawing rights
certificate account 2,200 2,200 2,201
I8 Treasury currency outstanding 35,065 35,145 (r) 35,201
ABSORBING RESERVE FUNDS
19 Currency Incirculation 693,315 694,073 (r) 700,102
20 Reverse repurchase
agreements (6) 22,080 19,827 20,190
21 Foreign official and
international accounts 22,080 19,827 20,190
Dealers 0 0 0
23 Treasury cash holdings 365 364 335
24 Deposits with Federal
Reserve Banks, other than
reserve balances 19,222 18,219 16,735
25 U.S. Treasury, general account 6,939 6,356 4,589
26 Foreign official 898 318 81
27 Service-related 11,136 11,288 (r) 11,455
28 Required clearing balances 10,835 10,898 10,912
29 Adjustments to compensate
for float 297 390 543
30 Other 249 258 225
31 Other liabilities and capital 19,898 19,674 20,251
32 Reserve balances with Federal
Reserve Bank (7) 16,364 17,696 (r) 17,387
Average of daily figures for week
ending on date indicated
Factor 2003
July 16 July 23
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 715,976 711,824
2 Securities held outright 652,496 652,764
3 U.S. Treasury (2) 652,986 652,754
4 Bills (3) 239,385 239,616
5 Notes and bonds nominal (3) 398,853 398,853
6 Notes and bond, inflation-
indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,475 1,470
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 22,893 24,250
10 Loans to depository institutions 114 114
11 Primary credit 6 4
12 Secondary credit 1 0
13 Seasonal credit 107 115
14 Float 452 42
14 Other Federal Reserve Assets 39,472 39,531
16 Gold stock 11,044 11,044
17 Special drawing right certificate
account 2,200 2,200
18 Treasury currency oulstanding 35,097 (r) 35,113 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,526 (r) 692,719 (r)
20 Reverse repurchase agreements (6) 20,067 19,677
21 Foreign official and
international accounts 20,067 19,677
22 Dealers 0 0
23 Treasury holdings 327 330
24 Deposits with Federal Reserve
Banks, other than
reserve balances 17,957 18,098
25 U.S. Treasury, general account 6,479 6,067
26 Foreign official 109 124
27 Service-related 11,062 11,400
28 Required clearing balances 10,863 10,863
29 Adjustments to compensate
for float 199 538
30 Other 307 506
31 Other liabilities and capital 19,878 20,000
32 Reserve balances with Federal
Reserve Banks (7) 11,054 14,238
End-of-month figures
July 16 July 23
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 716,149 724,764
2 Securities held outright 652,700 652,837
3 U.S. Treasury (2) 652,690 652,827
4 Bills (3) 239,550 239,692
5 Notes and bonds, nominal (3) 398,853 398,853
6 Note and bonds, inflation-
indexed (3) 12,814 12,814
7 Inflation compensation (3) 1,473 1,468
9 Federal agency (3) 10 10
9 Repurchase agreements (5) 24,000 32,000
10 Loans to depository institutions 121 118
11 Primary credit 8 1
12 Secondary credit 0 0
13 Seasonal credit 113 118
14 Float 97 -32
15 Other I cvlcral Reserve assets 39,230 39,841
16 Gold stuck 11,044 11,044
17 Special drawing rights
certificate account 2,200 2,200
18 Treasury currency outstanding 35,097 (r) 35,113 (r)
ABSORBING RESERVE FUNDS
19 Currency Incirculation 694,752 (r) 693,632 (r)
20 Reverse repurchase
agreements (6) 20,346 19,672
21 Foreign official and
international accounts 20,346 19,672
Dealers
23 Treasury cash holdings 329 339
24 Deposits with Federal
Reserve Banks. other than
reserve balances 17,233 18,014
25 U.S. Treasury, general account 5,724 6,058
26 Foreign official 128 134
27 Service-related 11,062 11,400
28 Required clearing balances 10,863 10,862
29 Adjustments to compensate
for float 199 538
30 Other
31 Other liabilities and capital 318 423
32 Reserve balances with Federal 19,649 20,085
Reserve Bank (7) 12,180 21,380
Average of daily figures for week
ending on date indicated
Factor 2003
July 30 Aug. 6 Aug. 13
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 726,539 715,976 711,824
2 Securities held outright 652,843 652,996 653,072
3 U.S. Treasury (2) 652,833 652,986 653,062
4 Bills (3) 239,701 239,855 239,927
5 Notes and bonds nominal (3) 398,853 398,853 398,853
6 Notes and bond, inflation-
indexed (3) 12,814 12,814 12,814
7 Inflation compensation (4) 1,465 1,464 1,467
8 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 20,857 22,500 17,679
10 Loans to depository institutions 126 154 145
11 Primary credit 1 21 7
12 Secondary credit 0 0 0
13 Seasonal credit 125 133 138
14 Float -477 470 595
14 Other Federal Reserve Assets 40,033 39,856 40,334
16 Gold stock 11,044 11,013 11,043
17 Special drawing right certificate
account 2,200 2,200 2,200
18 Treasury currency oulstanding 35,129 (r) 35,145 35,159
ABSORBING RESERVE FUNDS
19 Currency in circulation 692,566 (r) 694,304 694,979
20 Reverse repurchase agreements (6) 19,916 18,946 19,563
21 Foreign official and
international accounts 19,916 18,946 19,563
22 Dealers 0 0 0
23 Treasury holdings 343 365 369
24 Deposits with Federal Reserve
Banks, other than
reserve balances 18,005 17,399 17,205
25 U.S. Treasury, general account 6,205 5,639 5,611
26 Foreign official 259 177 149
27 Service-related 11,290 11,288 11,157
28 Required clearing balances 10,896 10,898 10,912
29 Adjustments to compensate
for float 394 390 245
30 Other 251 294 287
31 Other liabilities and capital 20,228 19,850 20,190
32 Reserve balances with Federal
Reserve Banks (7) 10,696 13,500 7,919
Wednesday figures
July 30 Aug. 6 Aug. 13
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 718,066 711,908 715,472
2 Securities held outright 652,866 653,034 653,288
3 U.S. Treasury (2) 652,856 653,024 653,278
4 Bills (3) 239,726 239,892 240,142
5 Notes and bonds, nominal (3) 398,853 398,853 398,853
6 Note and bonds, inflation-
indexed (3) 12,814 12,814 12,814
7 Inflation compensation (3) 1,463 1,465 1,469
9 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 26,250 18,250 19,000
10 Loans to depository institutions 141 143 164
11 Primary credit 5 3 16
12 Secondary credit 0 0 0
13 Seasonal credit 137 140 148
14 Float -1,187 429 2,583
15 Other I cvlcral Reserve assets 39,996 40,053 40,438
16 Gold stuck 11,043 11,043 11,043
17 Special drawing rights
certificate account 2,200 2,200 2,200
18 Treasury currency outstanding 35,129 (r) 35,145 35,159
ABSORBING RESERVE FUNDS
19 Currency Incirculation 694,586 696,134 695,930
(r)
20 Reverse repurchase
agreements (6) 19,316 19,062 19,138
21 Foreign official and
international accounts 19,316 19,062 19,138
Dealers
23 Treasury cash holdings 364 371 358
24 Deposits with Federal
Reserve Banks. other than
reserve balances 18,561 18,135 17,683
25 U.S. Treasury, general account 6,174 6,400 5,720
26 Foreign official 852 141 525
27 Service-related 11,290 11,288 11,157
28 Required clearing balances 10,896 10,898 10,912
29 Adjustments to compensate
for float 394 390 245
30 Other
31 Other liabilities and capital 246 307 281
32 Reserve balances with Federal 19,745 19,872 20,043
Reserve Bank (7) 13,866 6,722 10,722
Average of daily figures for week
ending on date indicated
Factor 2003
Aug. 20 Aug. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 726,539 715,403
2 Securities held outright 653,446 653,644
3 U.S. Treasury (2) 653,436 653,634
4 Bills (3) 240,298 241,492
5 Notes and bonds nominal (3) 398,853 398,853
6 Notes and bond, inflation-
indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,471 1,474
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 34,071 24,067
10 Loans to depository institutions 937 157
11 Primary credit 719 1
12 Secondary credit 66 0
13 Seasonal credit 152 156
14 Float 842 160
14 Other Federal Reserve Assets 37,243 36,834
16 Gold stock 11,049 11,143
17 Special drawing right certificate
account 2,200 2,200
18 Treasury currency oulstanding 35,173 35,187
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,709 694,738
20 Reverse repurchase agreements (6) 20,106 19,223
21 Foreign official and
international accounts 20,115 19,223
22 Dealers 0 0
23 Treasury holdings 355 338
24 Deposits with Federal Reserve
Banks, other than
reserve balances 17,518 17,612
25 U.S. Treasury, general account 5,644 5,974
26 Foreign official 238 86
27 Service-related 11,131 11,246
28 Required clearing balances 10,912 10,911
29 Adjustments to compensate
for float 419 337
30 Other 304 316
31 Other liabilities and capital 20,304 19,997
32 Reserve balances with Federal
Reserve Banks (7) 21,963 11,924
Wednesday figures
Aug. 20 Aug. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 730,576 718.942
2 Securities held outright 651,526 653,681
3 U.S. Treasury (2) 653,516 653,671
4 Bills (3) 240,376 240,528
5 Notes and bonds, nominal (3) 398,853 398,853
6 Note and bonds, inflation-
indexed (3) 12,514 12,814
7 Inflation compensation (3) 1,472 1,476
9 Federal agency (3) 10 10
9 Repurchase agreements (5) 39,500 29,000
10 Loans to depository institutions 262 161
11 Primary credit 105 2
12 Secondary credit 0 0
13 Seasonal credit 157 159
14 Float 499 -458
15 Other I cvlcral Reserve assets 36,789 36,558
16 Gold stuck 11,043 11,043
17 Special drawing rights
certificate account 2,200 2,200
18 Treasury currency outstanding 35,173 35,187
ABSORBING RESERVE FUNDS
19 Currency Incirculation 695,668 697,386
20 Reverse repurchase
agreements (6) 20,344 19,119
21 Foreign official and
international accounts 20,344 19,119
Dealers
23 Treasury cash holdings 338 335
24 Deposits with Federal
Reserve Banks. other than
reserve balances 18,246 17,050
25 U.S. Treasury, general account 6,533 5,441
26 Foreign official 81 81
27 Service-related 11,331 11,246
28 Required clearing balances 10,912 10,910
29 Adjustments to compensate
for float 419 337
30 Other
31 Other liabilities and capital 301 282
32 Reserve balances with Federal 19,884 19,912
Reserve Bank (7) 24,511 13,570
(1.) Amounts of value cash held as reserves are shown in 1.12, line 2.
(2.) Includes securities lent to dealers, which are fully collteralized
by othe U.S. treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjust for the effect of inflation on the
original face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collaterized by U.S.
Treasury and federal agency securities.
(6.) Cash value of agreements, which are fully collaterized by U.S.
Treasury securities.
(7.) 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
avarges
Reserve classification 2000 2001 2002
Dec. Dec. Dec. Feb.
1 Reserve balances with
Reserve Banks (2) 7,022 9,053 9,926 9,860
2 Total vault cash (3) 45,246 43,918 43,368 45,942
3 Applied vault cash (4) 31,451 32,024 30,347 32,079
4 Surplus vault cash (5) 13,795 11,894 13,021 13,863
5 Total reserves (6) 38,473 41,077 40,274 41,939
6 Required reserves 37,046 39,428 38,264 39,973
7 Excess reserve
balances at Reserve
Bunks (7) 1,427 1,649 20,119 1,965
8 Total borrowing at
Reserve Banks 210 67 80 25
9 Primary ... ... ... 21
10 Secondary ... ... ... 0
11 Seasonal 111 73 45 5
12 Adjustment 99 34 35 ...
Biweekly averages of daily figures for
two-week periods ending on dates
indicated
2003
Apr. 30 May 14 May 28 June 11
1 Reserve balances with
Reserve Banks (2) 11,852 9,772 13,116 11,050
2 Total vault cash (3) 42,024 41,432 41,968 41,040
3 Applied vault cash (4) 31,136 29,696 31,211 29,854
4 Surplus vault cash (5) 10,889 11,736 10,758 11,186
5 Total reserves (6) 42,987 39,468 44,326 40,904
6 Required reserves 41,436 37,924 42,712 38,909
7 Excess reserve
balances at Reserve
Banks (7) 1,551 1,543 1,614 1,994
8 Total borrowing at
Reserve Banks 29 51 58 69
9 Primary 2 3 2 7
10 Secondary 0 0 -1 0
11 Seasonal 27 48 56 63
12 Adjustment ... ... ... ...
Prorated monthly averages of biweekly
avarges
Reserve classification 2003
Mar. Apr. May June
1 Reserve balances with
Reserve Banks (2) 7,022 9,053 9,926 9,860
2 Total vault cash (3) 43,088 41,991 41,636 41,961
3 Applied vault cash (4) 30,757 30,574 30,395 30,574
4 Surplus vault cash (5) 12,331 11,417 11,241 11,386
5 Total reserves (6) 40,597 41,172 41,801 41,872
6 Required reserves 38,961 39,640 40,182 40,018
7 Excess reserve
balances at Reserve
Bunks (7) 1,636 15,32 1,619 1,854
8 Total borrowing at
Reserve Banks 2 29 55 161
9 Primary 14 8 3 87
10 Secondary -1 0 0 0
11 Seasonal 8 21 53 74
12 Adjustment ... ... ... ...
Biweekly averages of daily figures for
two-week periods ending on dates
indicated
2003
June 25 July 9 July 23 Aug. 6 (r)
1 Reserve balances with
Reserve Banks (2) 11,437 11,453 12,674 12,099
2 Total vault cash (3) 42,303 43,030 41,789 43,758
3 Applied vault cash (4) 30,798 31,534 30,545 32,890
4 Surplus vault cash (5) 11,505 11,497 11,244 10,869
5 Total reserves (6) 42,235 42,986 43,189 44,988
6 Required reserves 40,631 40,744 41,601 42,836
7 Excess reserve
balances at Reserve
Banks (7) 1,604 2,242 1,588 2,152
8 Total borrowing at
Reserve Banks 241 144 117 140
9 Primary 163 54 5 11
10 Secondary 0 0 1 0
11 Seasonal 78 90 111 129
12 Adjustment ... ... ... ...
Prorated monthly averages of biweekly
avarges
Reserve classification 2003
July Aug.
1 Reserve balances with
Reserve Banks (2) 12,157 14,107
2 Total vault cash (3) 42,657 43,034
3 Applied vault cash (4) 31,437 31,989
4 Surplus vault cash (5) 11,220 11,046
5 Total reserves (6) 43,594 46,096
6 Required reserves 41,671 42,322
7 Excess reserve
balances at Reserve
Bunks (7) 1,924 3,773
8 Total borrowing at
Reserve Banks 130 329
9 Primary 21 168
10 Secondary 11 15
11 Seasonal 110 146
12 Adjustment ... ...
Biweekly averages of daily figures for
two-week periods ending on dates indicated
2003
Aug. 20 Sept. 3
1 Reserve balances with
Reserve Banks (2) 14,940 14,142
2 Total vault cash (3) 43,490 42,060
3 Applied vault cash (4) 31,553 32,052
4 Surplus vault cash (5) 11,937 10,007
5 Total reserves (6) 46,493 46,194
6 Required reserves 40,806 43,973
7 Excess reserve
balances at Reserve
Banks (7) 5,687 2,221
8 Total borrowing at
Reserve Banks 541 162
9 Primary 363 5
10 Secondary 33 0
11 Seasonal 145 157
12 Adjustment ... ...
(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 olf-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 requoentenls. Dates refer to the maintenance
periods in which the vault cash can he 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 "nonhound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current reserve
requirements.
(5.) Total vital 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).
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit (1)
Federal Reserve On
Bank 10/17/03 Effective date Previous rate
Boston 2.00 6/25/03 2.25
New York 6/25/03
Philadelphia 6/26/03
Cleveland 6/26/03
Richmond 6/26/03
Atlanta 6/26/03
Chicago 6/26/03
St. Louis 6/26/83
Minneapolis 6/26/03
Kansas City 6/25/03
Dallas 6/26/03
San Francisco 2.00 6/25/03 2.25
Current and previous levels
Secondary credit (2)
Federal Reserve On
Bank 10/17/03 Effective date Previous rate
Boston 2.50 6/25/03 2.75
New York 6/25/03
Philadelphia 6/26/03
Cleveland 6/26/03
Richmond 6/26/03
Atlanta 6/26/03
Chicago 6/26/03
St. Louis 6/26/03
Minneapolis 6/26/03
Kansas City 6/25/03
Dallas 6/26/03
San Francisco 2.50 6/25/03 2.75
Current and previous levels
Seasonal credit (3)
Federal Reserve On
Bank 10/17/03 Effective date Previous rate
Boston 1.05 9/4/03 1.10
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco 1.05 9/4/03 1.10
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of Effective date
FR. Banks N.Y.
In effect Jan. 9, 2003 2.25 2.25
(beginning of program)
2003--June 25 2.00-2.25 2.00
26 2.00 2.00
In effect October 17, 2003 2.00 2.00
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)-All of Effective date
FR. Bank, N.Y.
In effect Jan. 9, 2003
(beginning of program)
2003--June 25
26
In effect October 17, 2003
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003
(beginning of program)
2003--June 25
26
In effect October 17, 2003
Range of rates for adjustment credit in
recent years (4)
Range (or FR. Bank
Effective date level)--All of Effective date
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.25 5.25 2000--Feb. 2
4
1996--Jan. 31 5.00-5.25 5.00 Mar. 21
Feb. 3 5.00 5.00 23
May 16
1998--Oct. 15 4.75-5.01 4.75 19
16 4.75 4.75
Nov. 17 4.50-4.75 4.50 2001--Jan. 3
19 4.50 4.50 4
5
1999-Aug. 24 4.50-4.75 4.75 31
26 4.75 4.75 Feb. 1
Nov. 16 4.75-5.00 4.75 Mar. 20
19 5.00 5.00 21
Apr. 18
20
2001--May 15
17
Range of rates for adjustment credit in
recent years (4)
Range for F.R. Bank
Effective date level)--All of Effective date
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.00-5.25 5.25 2001--June 17
5.25 5.25 29
1996--Jan. 31 5.25-5.50 5.50 Aug. 21
Feb. 3 5.50 5.50 23
5.50-6.00 5.50 Sept. 17
1998--Oct. 15 6.00 6.00 18
16 Oct. 2
Nov. 17 5.75-6.00 5.75 4
19 5.50-5.75 5.50 Nov. 6
5.50 5.50 8
1999-Aug. 24 5.00-5.50 5.50 Dec. 11
26 5.00 5.50 13
Nov. 16 4.50-5.00 4.50
19 4.50 4.50 2002--Nov. 6
4.00-4.50 4.00 7
4.00 4.00
3.50-4.00 3.50 In effect Jan. 8.
3.50 3.50 2003
(end of program)
Range of rates for adjustment credit in
recent years (4)
Range (or FR. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 3.25-3.50 3.25
3.25 3.25
1996--Jan. 31 3.00-3.25 3.00
Feb. 3 3.00 3.00
2.50-3.00 2.50
1998--Oct. 15 2.50 2.50
16 2.00-2.50 2.00
Nov. 17 2.00 2.00
19 1.50-2.00 1.50
1.50 1.50
1999-Aug. 24 1.25-1.50 1.25
26 1.25 1.25
Nov. 16
19 0.75-1.25 0.75
0.75 0.75
0.75 0.75
(1.) Available for every short terms as a backup of liquidity to
depository institutions that are in generally sound financial condition
in the judgment of the lending Federal Reserve Bank.
(2.) Available in appropriate circumstance, to depository institutions
that do not qualify for primary credit.
(3.) Available to help relatively small depository institutions meet
regular. seasonal needs for funds that arise from a clear pattern of
intrayearly movements in then deposits and loans and that cannot he
met through special industry lender. The discount rule 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.
(4.) Was available until January 8, 2003, to help depository
institutions meet temporary needs lot funds that could not be met
through reasonable alternative source. For earlier data, see the
following publications of the Board of Governors: Banking and Monetary
Statistics 1914-1941. and 1941-1970; and the Souisrical Digest,
1970-1979, 1980-19899, and 1990-1995. See also the Board's Statistics:
Releases and Historical Data web pages (http://www.federalreserve.
gov/ieleases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Type of deposit Percentage Effective
deposits date
Net transaction accounts (2)
1 $0 million-$6.6 million (3) 0 12/25/03
2 More heat 36.6 million-$45.4 million (4) 3 12/25/03
3 More than $45.4 million 10 12/25/03
4 Nonpersonal time deposits (6) 0 12/27/03
5 Eurocurrency 0 12/27/03
(1.) Required reserves must be held in the form of deposits with
Federal Reserves Banks or vault rash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly, on
a pass-through basis, with certain approved insulations, For previous
reserve requirements, see earlier editions of the Annual Report or the
Federal Reserve Bulletin. Under the Monetary Control of Act of 1980,
depository institutions include commercial banks, savings hanks,
savings and loan associations, credit unions, agencies and branches of
foreign banks, and Edge Act corporations.
(2.) Transaction recoil 111S Itslude 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 similar order
payable directly to third parties) are savings deposits, not transaction
accounts.
(3.) Under the Garn-St. Germain Depository Institutions Act of 1982,
the Board adjust the amount of reservable liabilities subject to a
zero percent reserve requirement each year for the succeeding calendar
year by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual basis
as of June 30. No corresponding adjustment is made in the event of a
decrease. The exemption applies only to accounts that would be subject
to a 3 percent reserve requirement. Effective with the reserve weekly,
and with the period beginning January 15, 2004, for institutions that
report quarterly, the exemption was raised from $6.0 million to
$6.6 million.
(4.) The Monetary Control Act of 1980 requires that the amount of
transaction account against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change in
trasaction accounts held by all depository institutions, determined
December 25, 2003, for depository institutions that report weekly, the
amount was increased from $42.1 million to $45.4 million.
(5.) The reserve requirement was reduced from 12 percent on April 2,
for institutions that report weekly, and April 16, 1992, for
installations that report quarterly.
(6.) For institutions that report weekly, the reserve requirements 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. 27, 1990. For institutions that report
quarterly, the resereve requirement on nonpersonal time deposits with
an original maturity of less than 1.5 years was reduced from 3 percent
to zero since October 6, 1983.
(7.) 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 2000 2001 2002
and maturity
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasure bills
1 Gross purchases 8,676 15,503 21,421
2 Gross sales 0 0 0
3 Exchange 477,904 542,736 657,931
4 For new bills 477,904 542,736 657,931
5 Redemptions 24,522 10,095 0
Others within one year
6 Gross purchases 8,809 15,663 12,720
7 Gross sales 0 0 0
8 Maturity shifts 62,025 70,336 89,108
9 Exchanges -54,656 -72,004 -92,075
10 Redemption 3,779 16,802 0
One to five years
11 Gross purchases 14,482 22,814 12,748
12 Gross sales 0 0 0
13 Maturity shifts -52,068 -45,211 -73,093
14 Exchanges 46,177 64,519 88,276
Five to ten years
15 Gross purchases 5,871 6,003 5,074
16 Gross sales 0 0 0
17 Maturity shifts -6,801 -21,063 -11,588
18 Exchanges 6,585 6,063 3,800
More than ten years
19 Gross purchase 5,833 8,531 2,280
20 Gross sales 0 0 0
21 Maturity shifts -3,155 -4,062 -4,427
22 Exchanges 1,894 1,423 0
All maturities
23 Gross purchases 43,670 68,513 54,242
24 Gross sales 0 0 0
25 Redemptions 28,301 26,897 0
26 Net change in U.S.
Treasury securities 15,369 41,616 54,242
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0 0
28 Gross sales 0 0 0
29 Redemptions 51 120 0
30 Net change in federal
agency obligations -51 -120 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 890,236 1,497,713 1,143,126
32 Gross sales 987,501 1,490,838 1,153,876
Matched sale--purchase
agreements
33 Gross purchases 4,415,905 4,722,667 4,981,624
34 Gross sales 4,397,835 4,724,743 4,958,437
Reverse repurchase
agreements (4)
35 Gross purchase 0 0 231,272
36 Gross sales 0 0 252,363
37 Net change in temporary
transactions -79,195 4,800 -8,653
38 Total net change in
System Open Market
Account -63,877 46,295 45,589
2003
Type of transaction
and maturity Jan. Feb. Mar. Apr.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasure bills
1 Gross purchases 0 4,161 1,863 3,543
2 Gross sales 0 0 0 0
3 Exchange 71,075 53,860 47,424 51,834
4 For new bills 71,075 53,860 47,424 51,834
5 Redemptions 0 0 0 0
Others within one year
6 Gross purchases 0 478 1,318 1,422
7 Gross sales 0 0 0 0
8 Maturity shifts 6,216 3,214 8,334 8,333
9 Exchanges -6,834 -13,313 -8,211 -7,293
10 Redemption 0 0 0 0
One to five years
11 Gross purchases 0 2,127 710 733
12 Gross sales 0 0 0 0
13 Maturity shifts -6,216 2,160 -8,334 -8,333
14 Exchanges 6,834 11,817 8,211 7,293
Five to ten years
15 Gross purchases 0 769 522 0
16 Gross sales 0 0 0 0
17 Maturity shifts 0 -3,877 0 0
18 Exchanges 0 1,497 0 0
More than ten years
19 Gross purchase 0 0 50 0
20 Gross sales 0 0 0 0
21 Maturity shifts 0 -1,497 0 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 0 7,534 4,463 5,699
24 Gross sales 0 0 0 0
25 Redemptions 0 0 0 0
26 Net change in U.S.
Treasury securities 0 7,534 4,463 5,699
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0 0 0
28 Gross sales 0 0 0 0
29 Redemptions 0 0 0 0
30 Net change in federal
agency obligations 0 0 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 135,749 121,896 95,001 112,251
32 Gross sales 150,499 119,746 90,151 106,500
Matched sale--purchase
agreements
33 Gross purchases 0 0 0 0
34 Gross sales 0 0 0 0
Reverse repurchase
agreements (4)
35 Gross purchase 392,530 343,748 388,069 451,149
36 Gross sales 389,810 343,395 389,469 452,545
37 Net change in temporary
transactions -12,029 2 2,200 2,104
38 Total net change in
System Open Market
Account -12,029 7,537 6,664 7,803
2003
Type of transaction
and maturity May June July
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasure bills
1 Gross purchases 1,684 1,032 808
2 Gross sales 0 0 0
3 Exchange 76,354 60,706 68,544
4 For new bills 76,354 60,706 68,544
5 Redemptions 0 0 0
Others within one year
6 Gross purchases 786 0 0
7 Gross sales 0 0 0
8 Maturity shifts 7,228 7,511 6,662
9 Exchanges -6,999 -6,700 -4,996
10 Redemption 0 0 0
One to five years
11 Gross purchases 1,057 0 0
12 Gross sales 0 0 0
13 Maturity shifts -1,513 -7,531 -6,662
14 Exchanges 6,747 67,081 4,996
Five to ten years
15 Gross purchases 234 0 0
16 Gross sales 0 0 0
17 Maturity shifts -5,463 0 0
18 Exchanges 252 0 0
More than ten years
19 Gross purchase 0 0 0
20 Gross sales 0 0 0
21 Maturity shifts -252 0 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 3,761 1,032 808
24 Gross sales 0 0 0
25 Redemptions 0 0 0
26 Net change in U.S.
Treasury securities 3,761 1,032 808
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0 0
28 Gross sales 0 0 0
29 Redemptions 0 0 0
30 Net change in federal
agency obligations 0 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 124,741 90,500 145,750
32 Gross sales 132,002 88,990 148,500
Matched sale--purchase
agreements
33 Gross purchases 0 0 0
34 Gross sales 0 0 0
Reverse repurchase
agreements (4)
35 Gross purchase 441,555 456,652 445,346
36 Gross sales 443,025 456,447 443,093
37 Net change in temporary
transactions -8,731 -6,535 -497
38 Total net change in
System Open Market
Account -4,971 -5,504 311
(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.
Transactions include the rollover of inflation compensation into new
securities.
(3.) Cash value of agreements, which are collateralized by U.S.
government and federal agency obligations.
(4.) Cash value of agreements, which are collateralized by U.S.
Treasury securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve Note
Statements (1)
Millions of dollars
Wednesday
2003
Account July 30 Aug. 6 Aug. 13 Aug. 20
Consolidated condition statement
ASSETS
1 Gold certificate account 11,039 11,039 11,039 11,039
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 869 870 888 897
4 Securities, repurchase
agreements, and loans 679,257 671,427 672,451 693,288
5 Securities held outright 652,866 653,034 653,288 653,526
6 U.S. Treasury (2) 652,856 653,024 653,278 653,516
7 Bills (3) 239,726 239,892 240,142 240,376
8 Notes and bonds,
nominal (3) 398,853 398,953 398,853 398,853
9 Notes and bonds,
inflation-indexed
(3) 12,814 12,814 12,814 12,814
10 Inflation
compensation (4) 1,463 1,465 1,469 1,472
11 Federal agency (3) 10 10 10 10
12 Repurchase agreements
(5) 26,250 18,250 19,000 39,511
13 Loans 141 143 164 262
14 Items in process of
collection 7,843 9,337 9,284 7,556
15 Bank premises 1,586 1,586 1,587 1,590
16 Other assets 38,377 38,431 38,805 35,154
17 Denominated in foreign
currencies (6) 17,707 17,717 17,770 17,646
18 All other (7) 20,670 20,714 21,035 17,509
19 Total assets 741,172 734,891 736,255 751,724
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 660,686 662,226 662,014 661,727
21 Reverse repurchase
agreements (8) 19,316 19,062 19,138 20,344
22 Deposits 33,151 25,188 27,215 42,103
23 Depository institutions 25,879 18,340 20,690 35,188
24 U.S. Treasury, general
account 6,174 6,400 5,720 6,533
25 Foreign official 852 141 525 81
26 Other 246 307 281 301
27 Deferred availability cash
items 8,275 8,543 7,844 7,667
28 Other liabilities and
accrued dividends (9) 2,151 2,125 2,159 2,162
29 Total liabilities 723,578 717,144 718,370 734,003
CAPITAL ACCOUNTS
30 Capital paid in 8,719 8,721 8,724 8,725
31 Surplus 8,363 8,380 8,380 8,380
32 Other capital accounts 513 646 780 617
33 Total capital 17,594 17,747 17,884 17,722
MEMO
34 Marketable securities held
in custody for foreign
official and
international accounts
(3,10) 930,019 935,715 937,857 945,863
35 U.S. treasury 746,813 753,009 751,156 759,937
36 Federal agency 183,207 182,707 186,701 185,925
37 Securities lent to dealers 2,534 4,784 2,689 2,196
Federal Reserve notes and collateral
statement
38 Federal Reserve notes
outstanding 774,095 775,502 777,982 779,566
39 Less: Notes held by F.R.
Banks not subject to
collateralization 108,713 108,511 111,177 113,140
40 Federal Reserve notes
to be collateralized 665,381 666,991 666,805 666,426
41 Collateral held against
Federal Reserve notes 665,381 666,991 666,805 666,426
42 Gold certificate account 11,039 11,039 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
44 U.S. Treasury and agency
securities pledged
(11) 652,142 652,217 653,145 653,187
45 Other eligible assets 0 1,534 420 0
MEMO
46 Total U.S. Treasury and
agency securities (11) 679,116 671,284 672,288 693,026
47 Less: face value of
securities under
reverse repurchase
agreements (12) 19,321 19,067 19,142 20,349
48 U.S. Treasury and agency
securities eligible
to be pledged 659,795 652.217 653,145 672,677
Wednesday End of month
2003 2003
Account Aug. 27 June July Aug.
Consolidated condition statement
ASSETS
1 Gold certificate account 11,039 11,040 11,039 11,039
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 887 942 878 881
4 Securities, repurchase
agreements, and loans 682,842 684,646 682,057 689,066
5 Securities held outright 653,681 652,128 652,913 653,909
6 U.S. Treasury (2) 653,671 652,118 652,903 653,899
7 Bills (3) 240,528 238,965 239,773 240,754
8 Notes and bonds,
nominal (3) 398,853 398,853 398,853 398,853
9 Notes and bonds,
inflation-indexed
(3) 12,814 12,814 12,814 12,814
10 Inflation
compensation (4) 1,476 1,485 1,462 1,478
11 Federal agency (3) 10 10 10 10
12 Repurchase agreements
(5) 29,000 31,750 29,000 35,000
13 Loans 161 768 145 158
14 Items in process of
collection 7,586 2,330 6,558 5,997
15 Bank premises 1,590 1,580 1,586 1,590
16 Other assets 35,389 37,195 38,004 35,729
17 Denominated in foreign
currencies (6) 17,511 17,849 17,598 17,654
18 All other (7) 17,878 19,346 20,406 18,075
19 Total assets 741,534 739,932 742,321 746,503
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 663,418 659,552 660,167 666,113
21 Reverse repurchase
agreements (8) 19,119 22,080 19,827 20,190
22 Deposits 31,731 35,806 35,972 33,793
23 Depository institutions 25,927 27,720 29,041 28,898
24 U.S. Treasury, general
account 5,441 6,939 6,356 4,589
25 Foreign official 81 898 318 81
26 Other 282 249 258 225
27 Deferred availability cash
items 7,355 2,596 6,681 6,155
28 Other liabilities and
accrued dividends (9) 2,204 2,227 2,143 2,195
29 Total liabilities 723,825 722,262 724,789 728,446
CAPITAL ACCOUNTS
30 Capital paid in 8,748 8,657 8,719 8,750
31 Surplus 8,380 8,356 8,327 8,380
32 Other capital accounts 580 657 486 927
33 Total capital 17,708 17,670 17,532 18,057
MEMO
34 Marketable securities held
in custody for foreign
official and
international accounts
(3,10) 949,401 945,930 936,251 951.036
35 U.S. treasury 761,587 760,406 754,101 765,022
36 Federal agency 187,814 185,524 182,150 186,013
37 Securities lent to dealers 2,346 4,950 2,390 2,631
Federal Reserve notes and collateral
statement
38 Federal Reserve notes
outstanding 780,878 766,845 774,672 780,991
39 Less: Notes held by F.R.
Banks not subject to
collateralization 112,697 102,691 109,856 110,234
40 Federal Reserve notes
to be collateralized 668,181 664,155 664,816 670,757
41 Collateral held against
Federal Reserve notes 668,181 664,155 664,816 670,757
42 Gold certificate account 11,039 11,040 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
44 U.S. Treasury and agency
securities pledged
(11) 654,942 650,915 651,577 657,518
45 Other eligible assets 0 0 0 0
MEMO
46 Total U.S. Treasury and
agency securities (11) 682,681 683,878 681,913 688,909
47 Less: face value of
securities under
reverse repurchase
agreements (12) 19,124 22,086 19,831 20,198
48 U.S. Treasury and agency
securities eligible
to be pledged 663,558 661,792 662,081 668,711
(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.) Includes securities lent to dealers, which are fully
collateralized by other U.S. Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the effect of inflation on the
original face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized by U.S.
Treasury and federal agency securities.
(6.) Valued daily at market exchange rates.
(7.) Includes special investment account at the Federal Reserve Bank of
Chicago in Treasury bills maturing within ninety days.
(8.) Cash value of agreements, which are fully collateralized by U.S.
Treasury securities.
(9.) Includes exchange-translation account reflecting the daily
revaluation at market exchange rates of foreign exchange commitments.
(10.) Includes U.S. Treasury STRIPS and other zero coupon bonds at face
value.
(11.) Includes face value of U.S. Treasury and agency securities held
outright compensation to adjust for the effect of inflation on the
original face value of inflation-indexed securities, and cash value of
repurchase agreements.
(12.) Face value of agreements, which are fully collateralized by U.S.
Treasury securities.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loans and
Securities
Millions of dollars
Wednesday
2003
Type of holding and maturity July 30 Aug. 6 Aug. 13 Aug. 20
1 Total loans 141 103 164 262
2 Within 15 days 116 37 40 261
3 16 days to 90 days 25 106 123 1
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (1) 652,856 653,024 653,278 653,516
6 Within 15 days 46,148 51,281 52,151 49,409
7 16 days to 90 days 141,180 137,369 136,584 135,851
8 91 days to 1 year 159,660 161,900 162,065 160,914
9 Over 1 year to 5 years 179,349 177,684 177,685 180,032
10 Over 5 years to 10 years 46,654 44,824 44,825 50,383
11 Over 10 years 79,965 79,966 79,967 76,928
12 Total federal agency
securities 10 10 10 10
13 Within 15 days 0 0 0 0
14 16 days to 90 days 0 0 0 0
15 91 days to 1 year 10 10 10 10
16 Over 1 year to 5 years 0 0 0 0
17 Over 5 years to 10 years 0 0 0 0
18 Over 10 years 0 0 0 0
19 Total repurchase
agreements (2) 26,250 18,250 19,000 39,500
20 Within 15 days 24,250 15,250 14,000 32,500
21 16 days to 90 days 2,000 3,000 5,000 7,000
22 Total reverse repurchase
agreements (2) 19,316 19,062 19,138 20,344
23 Within 15 days 19,316 19,062 19,138 20,344
24 16 days to 90 days 0 0 0 0
Wednesday End of month
2003 2003
Type of holding and maturity Aug. 27 June July Aug.
1 Total loans 161 768 145 158
2 Within 15 days 138 752 99 109
3 16 days to 90 days 23 16 45 48
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (1) 653,671 652,118 652,903 653,899
6 Within 15 days 50,191 27,419 36,979 35,599
7 16 days to 90 days 135,304 153,840 134,047 138,773
8 91 days to 1 year 160,830 157,337 172,745 172,179
9 Over 1 year to 5 years 180,032 186,886 184,345 180,033
10 Over 5 years to 10 years 50,384 46,661 44,823 50,384
11 Over 10 years 76,929 79,974 79,965 76 930
12 Total federal agency
securities 10 10 10 10
13 Within 15 days 0 0 0 0
14 16 days to 90 days 0 0 0 0
15 91 days to 1 year 10 10 10 10
16 Over 1 year to 5 years 0 0 0 0
17 Over 5 years to 10 years 0 0 0 0
18 Over 10 years 0 0 0 0
19 Total repurchase
agreements (2) 29,000 31,750 29,000 35,000
20 Within 15 days 24,000 23,750 24,000 26,000
21 16 days to 90 days 5,000 8,000 5,000 9,000
22 Total reverse repurchase
agreements (2) 19,119 22,080 19,827 20,190
23 Within 15 days 19,119 22,080 19,827 20,190
24 16 days to 90 days 0 0 0 0
Note. Components may not sum to totals because of rounding.
(1.) Includes the original face value of inflation-indexed securities
and compensation that adjusts for the effect of inflation on the
original face value of such securities.
(2.) Cash value of agreements classified by remaining maturity of the
agreements.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY
BASE (1)
Billions of dollars, averages of daily figures
1999 2000 2001 2002
Item Dec. Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 41.81 38.54 41.24 40.22
2 Nonborrowed reserves (4) 41.49 38.33 41.18 40.14
3 Required reserves 40.51 32.11 39.60 38.21
4 Monetary base (5) 593.16 584.77 635.62 681.90
Not seasonally adjusted
5 Total reserves (6) 41.89 38.53 41.20 40.13
6 Nonborrowed reserves 41.57 38.32 41.13 40.05
7 Required rescrves (7) 40.59 37.10 39.55 38.12
8 Monetary base (8) 600.72 590.06 639.91 686.23
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.65 38.47 41.08 40.27
10 Nonborrowed reserves 41.31 38.26 41.01 40.19
11 Required reserves 40.36 37.05 39.43 38.26
12 Monetary base (11) 608.02 596.98 648.74 697.15
13 Excess reserves (12) 1.30 1.43 1.65 2.01
14 Borrowings from the
Federal Reserve .32 .21 .07 .08
2003
Item Jan. Feb. Mar. Apr.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.73 40.82 40.97 40.81
2 Nonborrowed reserves (4) 40.70 40.80 40.95 40.78
3 Required reserves 39.02 38.86 39.34 39.27
4 Monetary base (5) 685.72 691.31 695.14 698.23
Not seasonally adjusted
5 Total reserves (6) 42.85 41.94 40.60 41.16
6 Nonborrowed reserves 42.83 41.91 40.57 41.14
7 Required rescrves (7) 41.15 39.97 38.96 39.63
8 Monetary base (8) 688.33 690.25 693.91 697.83
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (9)
9 Total reserves (10) 42.87 41.94 40.60 41.17
10 Nonborrowed reserves 42.84 41.91 40.58 41.14
11 Required reserves 41.16 39.97 38.96 39.64
12 Monetary base (11) 699.25 701.04 705.14 709.10
13 Excess reserves (12) 1.71 1.97 1.64 1.53
14 Borrowings from the
Federal Reserve .03 .03 .02 .03
2003
Item May June July Aug.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.81 42.80 43.93 46.29
2 Nonborrowed reserves (4) 40.93 42.63 43.80 45.97
3 Required reserves 39.37 40.94 42.00 (r) 42.52
4 Monetary base (5) 701.18 703.17 703.53 709.21
Not seasonally adjusted
5 Total reserves (6) 41.79 41.86 43.58 46.07
6 Nonborrowed reserves 41.73 41.70 43.41 (r) 45.74
7 Required rescrves (7) 40.17 40.00 41.65 (r) 42.30
8 Monetary base (8) 701.58 703.33 705.80 709.18
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.80 41.87 43.59 (r) 46.10
10 Nonborrowed reserves 41.75 41.71 43.46 (r) 45.77
11 Required reserves 40.18 40.02 41.67 (r) 42.32
12 Monetary base (11) 712.76 714.36 717.01 720.49
13 Excess reserves (12) 1.62 1.85 1.92 3.77
14 Borrowings from the
Federal Reserve .06 .16 .13 .33
(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.) 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.
(6.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(7.) 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).
(8.) 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.
(9.) 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.
(10.) Reserve balances with Federal Reserve Banks plus vault cash used
to satisfy reserve requirements.
(11.) The monetary base, not break-adjusted and not seasonally
adjusted, consist 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 Account,
Other Deposits and Vault Cash" and for all those weekly reporters whose
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.
(12.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK MEASURES (1)
Billions of dollars, averages of daily figures
1999 2000 2001 2002
Item Dec. Dec. Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,121.4 1,084.7 1,172.9 1,210.4
2 M2 4,649.7 4,931.5 5,444.6 5,791.8
3 M3 6,534.9 7,099.4 8,004.5 8,522.7
M1 components
4 Currency (3) 517.7 531.5 581.9 627.3
5 Travelers checks (4) 8.3 8.0 7.8 7.5
6 Demand deposits (5) 352.1 306.9 326.1 297.1
7 Other checkable deposits
(6) 243.4 238.7 257.2 278.5
Nontransaction components
8 In M2 (7) 3,528.3 3,846.8 4,271.7 4,581.4
9 In M3 only (8) 1,885.1 2,167.9 2,559.9 2,730.9
Commercial banks
10 Savings deposits,
including MMDAs 1,288.8 1,422.9 1,734.6 2,047.9
11 Small time deposits (9) 634.6 699.5 634.2 591.0
12 Large time deposits
(10,11) 652.2 718.3 671.1 676.6
Thrift institutions
13 Savings deposits,
including MMDAs 452.0 454.3 572.4 714.5
14 Small time deposits (9) 319.5 344.8 339.1 302.2
15 Large time deposits (10) 91.9 103.0 114.9 117.3
Money market mutual funds
16 Retail 833.4 925.4 991.5 925.9
17 Institution-only 634.8 788.8 1,190.3 1,234.5
Repurchase agreements and
eurodollars
18 Repurchase agreements
(12) 335.7 363.5 3,751.1 474.6
19 Eurodollars (12) 170.5 194.3 208.6 227.9
Not seasonally adjusted
Measures (2)
20 M1 1,147.8 1,112.1 1.211.2 1,240.3
21 M2 4,676.8 4,966.9 5,487.6 5,841.1
22 M3 6,577.5 7,154.0 8,076.3 8,600.3
M1 components
23 Currency (3) 521.7 535.6 585.4 630.6
24 Travelers checks (4) 8.4 8.1 7.9 7.7
25 Demand deposits (5) 371.7 326.7 348.1 317.5
26 Other checkable deposits
(6) 246.0 241.6 261.5 284.5
Nontransaction components
27 In M2 (7) 3,529.0 3,854.8 4,284.6 4,600.8
28 In M3 only (8) 1,900.7 2,187.1 2,588.7 2,759.2
Commercial banks
29 Savings deposits,
including MMDAs 1,288.7 1,427.5 1,742.4 2,060.4
30 Small time deposits (9) 635.6 700.6 635.1 591.7
31 Large time deposits
(10,11) 653.6 718.5 670.0 675.0
Thrift institutions
32 Savings deposits,
including MMDAs 451.9 455.8 575.0 718.9
33 Small time deposits (9) 320.0 345.4 339.6 302.5
34 Large time deposits (10) 92.1 103.0 114.7 117.0
Money market mutual funds
35 Retail 832.7 925.5 992.5 927.4
36 Institution-only 648.6 806.1 1,218.3 1,262.3
Repurchase agreements and
eurodollars
37 Repurchase agreements
(12) 334.7 364.2 376.5 476.4
38 Eurodollars (12) 171.7 195.2 209.1 228.5
2003
Item May June July
Seasonally adjusted
Measures (2)
1 M1 1,158.3 1,272.2 1,277.8
2 M2 5,996.2 6,043.6 6,092.1
3 M3 8,706.1 (r) 8,772.1 (r) 8,932.9 (r)
M1 components
4 Currency (3) 645.8 646.5 646.2
5 Travelers checks (4) 7.5 7.9 8.2
6 Demand deposits (5) 315.4 322.5 322.5
7 Other checkable deposits
(6) 289.6 295.3 300.9
Nontransaction components
8 In M2 (7) 4,737.9 4,771.4 4,814.3
9 In M3 only (8) 2,709.9 (r) 2,728.5 (r) 2,840.9 (r)
Commercial banks
10 Savings deposits,
including MMDAs 2,188.4 2,227.6 2,279.8
11 Small time deposits (9) 571.6 566.4 557.4
12 Large time deposits
(10,11) 691.1 687.3 775.0 (r)
Thrift institutions
13 Savings deposits,
including MMDAs 793.3 802.0 816.3
14 Small time deposits (9) 291.7 288.5 285.0
15 Large time deposits (10) 116.9 118.0 121.4
Money market mutual funds
16 Retail 892.8 886.9 875.8
17 Institution-only 1,124.8 1,143.8 1,183.9
Repurchase agreements and
eurodollars
18 Repurchase agreements
(12) 517.5 520.2 495.1
19 Eurodollars (12) 259.5 (r) 259.1 (r) 265.4 (r)
Not seasonally adjusted
Measures (2)
20 M1 1,251.8 1,269.4 1,274.2
21 M2 5,961.6 6,012.6 6,058.1
22 M3 8,681.8 (r) 8,741.1 (r) 8,874.3 (r)
M1 components
23 Currency (3) 646.5 647.7 648.7
24 Travelers checks (4) 7.5 7.7 7.8
25 Demand deposits (5) 308.0 318.8 319.9
26 Other checkable deposits
(6) 289.7 295.2 297.8
Nontransaction components
27 In M2 (7) 4,709.8 4,743.3 4,783.8
28 In M3 only (8) 2,720.3 (r) 2,728.5 (r) 2,816.2 (r)
Commercial banks
29 Savings deposits,
including MMDAs 2,177.5 2,217.5 2,263.9
30 Small time deposits (9) 571.0 565.8 557.2
31 Large time deposits
(10,11) 696.9 691.8 (r) 774.9 (r)
Thrift institutions
32 Savings deposits,
including MMDAs 789.4 798.3 810.7
33 Small time deposits (9) 291.3 288.1 284.9
34 Large time deposits (10) 117.9 118.8 121.4
Money market mutual funds
35 Retail 880.6 873.5 867.2
36 Institution-only 1,118.9 1,131.0 1,161.6
Repurchase agreements and
eurodollars
37 Repurchase agreements
(12) 525.0 529.5 496.6
38 Eurodollars (12) 261.5 (r) 257.4 (r) 261.8 (r)
2003
Item Aug.
Seasonally
adjusted
Measures (2)
1 M1 1,285.3
2 M2 6,132.2
3 M3 8,956.7
M1 components
4 Currency (3) 649.2
5 Travelers checks (4) 8.0
6 Demand deposits (5) 321.9
7 Other checkable deposits
(6) 306.2
Nontransaction components
8 In M2 (7) 4,846.9
9 In M3 only (8) 2,824.4
Commercial banks
10 Savings deposits,
including MMDAs 2,315.8
11 Small time deposits (9) 549.6
12 Large time deposits
(10,11) 773.4
Thrift institutions
13 Savings deposits,
including MMDAs 831.4
14 Small time deposits (9) 281.0
15 Large time deposits (10) 123.0
Money market mutual funds
16 Retail 869.2
17 Institution-only 1,164.6
Repurchase agreements and
eurodollars
18 Repurchase agreements
(12) 491.6
19 Eurodollars (12) 271.9
Not seasonally
adjusted
Measures (2)
20 M1 1,279.2
21 M2 6,111.5
22 M3 8,906.7
M1 components
23 Currency (3) 650.4
24 Travelers checks (4) 7.8
25 Demand deposits (5) 320.9
26 Other checkable deposits
(6) 300.0
Nontransaction components
27 In M2 (7) 4,832.3
28 In M3 only (8) 2,795.2
Commercial banks
29 Savings deposits,
including MMDAs 2,307.3
30 Small time deposits (9) 549.9
31 Large time deposits
(10,11) 772.2
Thrift institutions
32 Savings deposits,
including MMDAs 828.4
33 Small time deposits (9) 281.1
34 Large time deposits (10) 122.8
Money market mutual funds
35 Retail 865.6
36 Institution-only 1,144.1
Repurchase agreements and
eurodollars
37 Repurchase agreements
(12) 488.1
38 Eurodollars (12) 267.9
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 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 scanning 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.
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks of
nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the U.S.
government, and foreign banks and official institutions, less cash
items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small time
deposits.
(10.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and foreign
banks and official institutions.
(12.) Includes both overnight and term.
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
2002 2003
Account Aug. Feb. (r) Mar. (r)
Seasonally adjusted
Assets
1 Bank credit 5,661.4 5,962.1 5,992.5
2 Securities in bank
credit 1,629.5 1,754.1 1,766.1
3 U.S. government
securities 943.7 1,059.4 1,072.2
4 Other 685.8 604.7 693.9
5 Loans and leases in bank
credit (2) 4,031.9 4,208.0 4,226.4
6 Commercial and
industrial 978.4 (r) 953.4 947.8
7 Real estate 1,903.7 (r) 2,079.9 2,095.0
8 Revolving home
equity 197.3 222.7 230.5
9 Other 1,706.4 (r) 1,857.2 1,864.5
10 Consumer 574.3 591.8 586.9
11 Security (3) 176.9 181.3 193.6
12 Other loans and leases 398.5 401.6 403.1
13 Interbank loans 304.1 304.2 313.1
14 Cash assets (4) 320.3 318.3 323.6
15 Other assets (5) 504.2 535.2 525.0
16 Total assets (6) 6,714.9 7,043.3 7,077.7
Liabilities
17 Deposits 4,462.5 4,535.3 4,585.6
18 Transaction 598.6 613.7 619.4
19 Nontransaction 3,863.9 3,921.6 3,966.3
20 Large time 1,046.6 995.2 1,001.6
21 Other 2,817.3 2,926.4 2,964.7
22 Borrowings 1,290.6 1,368.7 1,389.8
23 From banks in the U.S. 403.7 388.1 397.3
24 From Others 886.8 980.6 992.6
25 Net due to related foreign
offices 87.3 (r) 144.3 135.8
26 Other liabilities 430.3 455.4 449.8
27 Total liabilities 6,270.7 (r) 6,503.7 6,561.0
28 Residual (assets less
liabilities) (7) 444.2 (r) 539.6 516.7
Not seasonally adjusted
Assets
29 Bank credit 5,642.6 5,965.5 5,981.3
30 Securities in bank
credit 1,622.9 1,763.2 1,771.1
31 U.S. government
securities 940.2 1,065.7 1,077.2
32 Other securities 682.7 697.5 693.9
33 Loans and leases in bank
credit (2) 4,019.7 4,202.2 4,210.2
34 Commercial and
industrial 974.3 (r) 951.5 949.2
35 Real estate 1,903.7 (r) 2,075.7 2,086.0
36 Revolving home
equity 197.4 223.0 228.4
37 Other 1,706.3 (r) 1,852.6 1,857.6
38 Consumer 571.0 595.0 584.7
39 Credit cards and
related plans 224.1 225.8 219.6
40 Other 346.9 369.2 365.0
41 Security (3) 172.4 183.0 189.2
42 Other loans and leases 398.4 (r) 397.2 401.2
43 Interbank loans 298.2 301.4 319.5
44 Cash asset (4) 304.6 318.8 312.8
45 Other assets (5) 501.1 532.6 524.1
46 Total assets (6) 6,671.3 7,041.4 7,061.0
Liabilities
47 Deposits 4,313.8 4,556.2 4,592.8
48 Transaction 583.8 606.1 611.0
49 Nontransaction 3,830.0 3,950.2 3,981.8
50 Large time 1,028.8 1,005.8 1,004.3
51 Other 2,801.2 2,944.3 2,977.4
52 Borrowings 1,273.5 1,370.9 1,386.2
53 From banks in the U.S. 399.4 391.6 400.7
54 From others 874.1 979.3 985.5
55 Net due to related foreign
offices 85.4 (r) 149.6 133.9
56 Other liabilities 428.8 461.7 446.0
57 Total liabilities 6,201.4 6,538.4 6,558.9
58 Residual (assets less
liabilities) (7) 469.8 (r) 503.0 502.1
Monthly averages
2003
Account Apr. (r) May (r) June (r)
Seasonally adjusted
Assets
1 Bank credit 6,027.0 6,134.1 6,195.8
2 Securities in bank
credit 1,778.7 1,837.4 1,862.3
3 U.S. government
securities 1,104.4 1,135.2 1,151.4
4 Other 674.3 702.2 710.9
5 Loans and leases in bank
credit (2) 4,248.3 4,296.7 4,333.5
6 Commercial and
industrial 946.2 938.8 927.0
7 Real estate 2,111.1 2,133.9 2,156.7
8 Revolving home
equity 234.7 238.2 244.5
9 Other 1,876.4 1,895.7 1,912.2
10 Consumer 584.6 589.9 595.8
11 Security (3) 190.6 210.3 212.2
12 Other loans and leases 415.1 423.8 441.9
13 Interbank loans 304.4 316.3 319.7
14 Cash assets (4) 319.7 318.3 331.4
15 Other assets (5) 528.7 546.1 549.6
16 Total assets (6) 7,104.6 7,239.4 7,321.2
Liabilities
17 Deposits 4,612.6 4,643.4 4,702.4
18 Transaction 632.4 634.1 639.3
19 Nontransaction 3,980.2 4,009.3 4,063.1
20 Large time 985.5 999.2 1,003.3
21 Other 2,994.7 3,010.2 3,059.8
22 Borrowings 1,396.7 1,438.2 1,478.1
23 From banks in the U.S. 397.1 389.8 408.6
24 From Others 999.6 1,048.4 1,069.5
25 Net due to related foreign
offices 139.3 146.5 126.4
26 Other liabilities 455.0 479.0 489.3
27 Total liabilities 6,603.5 6,707.1 6,796.2
28 Residual (assets less
liabilities) (7) 501.2 532.3 524.9
Not seasonally adjusted
Assets
29 Bank credit 6,021.6 6,128.8 6,192.3
30 Securities in bank
credit 1,776.5 1,835.1 1,856.2
31 U.S. government
securities 1,104.3 1,133.2 1,146.7
32 Other securities 672.2 702.0 709.5
33 Loans and leases in bank
credit (2) 4,245.1 4,293.7 4,336.2
34 Commercial and
industrial 950.7 942.5 931.0
35 Real estate 2,107.5 2,137.7 2,158.0
36 Revolving home
equity 234.4 239.4 245.4
37 Other 1,873.1 1,898.3 1,912.6
38 Consumer 581.8 588.7 592.4
39 Credit cards and
related plans 215.6 221.5 223.2
40 Other 366.2 367.2 369.3
41 Security (3) 189.8 202.6 210.8
42 Other loans and leases 415.3 422.1 444.0
43 Interbank loans 315.5 312.0 320.9
44 Cash asset (4) 318.0 314.7 322.2
45 Other assets (5) 528.1 544.0 544.2
46 Total assets (6) 7,108.0 7,223.9 7,304.1
Liabilities
47 Deposits 4,637.7 4,636.4 4,691.4
48 Transaction 638.3 623.9 633.9
49 Nontransaction 3,999.4 4,012.5 4,057.6
50 Large time 989.9 1,002.8 1,001.4
51 Other 3,009.5 3,009.6 3,056.2
52 Borrowings 1,400.8 1,443.9 1,477.2
53 From banks in the U.S. 401.2 392.2 406.8
54 From others 999.6 1,051.8 1,070.4
55 Net due to related foreign
offices 130.2 146.0 123.5
56 Other liabilities 442.5 478.2 486.1
57 Total liabilities 6,611.2 6,704.5 6,778.3
58 Residual (assets less
liabilities) (7) 496.8 519.3 525.8
Wednesday
Monthly averages figures
2003
Account July (r) Aug. Aug. 6
Seasonally adjusted
Assets
1 Bank credit 6,237.1 6,223.3 6,252.8
2 Securities in bank
credit 1,817.4 1,775.0 1,800.5
3 U.S. government
securities 1,114.9 1,076.4 1,107.1
4 Other 702.5 698.5 693.5
5 Loans and leases in bank
credit (2) 4,419.7 4,448.3 4,452.3
6 Commercial and
industrial 930.3 922.4 923.7
7 Real estate 2,194.6 2,239.8 2,242.0
8 Revolving home
equity 248.7 253.1 251.3
9 Other 1,945.9 1,986.7 1,990.7
10 Consumer 596.2 596.9 594.5
11 Security (3) 214.8 207.0 210.7
12 Other loans and leases 483.8 482.2 481.5
13 Interbank loans 321.1 326.1 333.1
14 Cash assets (4) 336.4 343.8 334.1
15 Other assets (5) 555.2 568.3 573.7
16 Total assets (6) 7,374.6 7,385.4 7,418.5
Liabilities
17 Deposits 4,748.0 4,799.6 4,797.1
18 Transaction 655.3 655.1 625.7
19 Nontransaction 4,092.7 4,144.5 4,171.4
20 Large time 1,020.9 1,031.6 1,040.9
21 Other 3,071.8 3,112.9 3,130.5
22 Borrowings 1,515.0 1,517.9 1,559.8
23 From banks in the U.S. 410.9 416.4 428.3
24 From Others 1,104.0 1,101.5 1,131.4
25 Net due to related foreign
offices 143.0 126.5 120.5
26 Other liabilities 458.6 448.5 449.8
27 Total liabilities 6,864.6 6,892.7 6,927.2
28 Residual (assets less
liabilities) (7) 510.1 492.7 491.3
Not seasonally adjusted
Assets
29 Bank credit 6,212.2 6,203.3 6,235.0
30 Securities in bank
credit 1,802.1 1,767.7 1,792.1
31 U.S. government
securities 1,106.8 1,072.5 1,102.8
32 Other securities 695.3 695.2 689.3
33 Loans and leases in bank
credit (2) 4,410.1 4,435.6 4,442.9
34 Commercial and
industrial 931.4 918.6 922.7
35 Real estate 2,193.0 2,239.8 2,240.5
36 Revolving home
equity 248.7 253.2 251.0
37 Other 1,944.3 1,986.6 1.989.5
38 Consumer 590.6 593.2 588.0
39 Credit cards and
related plans 219.9 220.0 217.0
40 Other 370.7 373.3 371.0
41 Security (3) 208.7 201.7 207.9
42 Other loans and leases 486.3 482.2 483.7
43 Interbank loans 316.6 320.2 332.4
44 Cash asset (4) 325.7 327.2 319.0
45 Other assets (5) 553.4 564.7 572.7
46 Total assets (6) 7,333.0 7,339.3 7,383.6
Liabilities
47 Deposits 4,718.6 4,749.6 4,771.6
48 Transaction 646.6 638.7 614.8
49 Nontransaction 4,072.0 4,110.9 4,156.8
50 Large time 1,009.8 1,015.5 1,015.5
51 Other 3,062.2 3,095.4 3,129.3
52 Borrowings 1,507.9 1,497.9 1,542.7
53 From banks in the U.S. 407.6 411.9 425.7
54 From others 1,100.4 1,086.1 1,117.0
55 Net due to related foreign
offices 133.6 125.1 111.9
56 Other liabilities 448.7 446.7 441.2
57 Total liabilities 6,808.9 6,819.4 6,867.5
58 Residual (assets less
liabilities) (7) 524.1 519.9 516.1
Wednesday figures
2003
Account Aug. 13 Aug. 20 Aug. 27
Seasonally adjusted
Assets
1 Bank credit 6,230.4 6,203.3 6,208.0
2 Securities in bank
credit 1,764.2 1,771.4 1,767.8
3 U.S. government
securities 1,062.9 1,065.6 1,071.5
4 Other 701.3 705.8 696.4
5 Loans and leases in bank
credit (2) 4,466.2 4,431.9 4,440.2
6 Commercial and
industrial 921.7 921.6 923.9
7 Real estate 2,237.6 2,234.3 2,234.7
8 Revolving home
equity 252.2 253.3 254.1
9 Other 1,981.0 1,981.0 1,980.6
10 Consumer 595.7 597.7 597.9
11 Security (3) 226.2 194.9 201.3
12 Other loans and leases 485.1 483.2 482.5
13 Interbank loans 334.4 325.7 323.2
14 Cash assets (4) 338.0. 345.4 350.5
15 Other assets (5) 575.6 568.3 552.0
16 Total assets (6) 7,402.2 7,366.3 7,357.6
Liabilities
17 Deposits 4,828.0 4,779.2 4,784.2
18 Transaction 648.4 664.3 695.6
19 Nontransaction 4,179.6 4,114.9 4,088.6
20 Large time 1,034.8 1,027.4 1,023.8
21 Other 3,144.8 3,087.4 3,064.8
22 Borrowings 1,532.4 1,496.0 1,501.8
23 From banks in the U.S. 418.4 416.1 411.3
24 From Others 1,114.0 1,079.8 1,090.5
25 Net due to related foreign
offices 99.5 144.2 143.1
26 Other liabilities 455.4 446.5 427.7
27 Total liabilities 6,915.4 6,865.8 6,856.8
28 Residual (assets less
liabilities) (7) 486.8 500.5 500.8
Not seasonally adjusted
Assets
29 Bank credit 6,210.2 6,180.5 6,181.0
30 Securities in bank
credit 1,754.5 1,762.9 1,760.2
31 U.S. government
securities 1,057.1 1,061.0 1,067.0
32 Other securities 697.4 701.8 693.3
33 Loans and leases in bank
credit (2) 4,455.7 4,417.7 4,420.8
34 Commercial and
industrial 918.4 917.8 917.2
35 Real estate 2,240.0 2,233.5 2,234.4
36 Revolving home
equity 252.3 253.5 254.5
37 Other 1,987.8 1,980.1 1,979.9
38 Consumer 591.0 594.7 596.1
39 Credit cards and
related plans 218.3 221.2 221.2
40 Other 372.7 373.5 375.0
41 Security (3) 222.2 188.5 194.7
42 Other loans and leases 484.1 483.2 478.4
43 Interbank loans 329.7 320.9 305.3
44 Cash asset (4) 315.7 325.9 323.8
45 Other assets (5) 572.9 562.5 544.2
46 Total assets (6) 7,352.2 7,313.4 7,278.1
Liabilities
47 Deposits 4,779.6 4,720.4 4,698.3
48 Transaction 630.4 644.2 663.4
49 Nontransaction 4,149.2 4,076.2 4,034.9
50 Large time 1,018.2 1,010.4 1,008.1
51 Other 3,131.1 3,065.8 3,026.8
52 Borrowings 1,508.7 1,477.7 1,476.5
53 From banks in the U.S. 413.7 412.9 404.3
54 From others 1,095.0 1,064.8 1,072.2
55 Net due to related foreign
offices 95.3 142.5 148.8
56 Other liabilities 450.7 444.9 433.3
57 Total liabilities 6,834.3 6,785.4 6,756.9
58 Residual (assets less
liabilities) (7) 517.8 528.0 521.2
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2002 2003
Account Aug. Feb. Mar.
Seasonally adjusted
Assets
1 Bank credit 5,041.4 (r) 5,315.2 (r) 5,329.0
2 Securities in bank
credit 1,381.4 1,474.8 1,482.3 (r)
3 U.S. government
securities 862.0 942.7 949.7
4 Other securities 519.4 532.0 (r) 532.6
5 Loans and leases in bank
credit (2) 3,660.0 3,840.4 (r) 3,846.7
6 Commercial and
industrial 789.3 (r) 779.3 (r) 776.2 (r)
7 Real estate 1,884.8 (r) 2,060.1 (r) 2,075.1 (r)
8 Revolving home
equity 197.3 222.7 230.5
9 Other 1,687.6 (r) 1,837.4 (r) 1,844.6 (r)
10 Consumer 574.3 591.8 (r) 586.9
11 Security (3) 85.4 73.1 (r) 72.2
12 Other loans and leases 326.1 336.0 (r) 336.3 (r)
13 Interbank loans 286.2 277.2 285.8
14 Cash assets (4) 272.5 279.6 279.7
15 Other assets (5) 476.5 (r) 500.7 (r) 495.0 (r)
16 Total assets (6) 6,001.9 6,296.6 (r) 6,313.6 (r)
Liabilities
17 Deposits 3,964.8 4,092.5 4,137.2
18 Transaction 589.5 603.5 607.9
19 Nontransaction 3,376.3 3,489.0 3,529.4
20 Large time 565.0 583.5 583.6
21 Other 2,811.3 2,905.5 2,945.8
22 Borrowings 1,076.7 1,093.8 1,096.7
23 From banks in the U.S. 382.4 357.0 363.6
24 From others 694.3 736.7 733.1 (r)
25 Net due to related foreign
offices 173.5 (r) 222.7 219.6 (r)
26 Other liabilities 332.7 355.8 355.0
27 Total liabilities 5,547.7 5,764.8 (r) 5,808.5
28 Residual (assets less
liabilities) (7) 454.2 (r) 531.8 (r) 505.1 (r)
Not seasonally adjusted
Assets
29 Bank credit 5,028.8 5,314.1 (r) 5,319.6
30 Securities in bank
credit 1,374.8 1,483.9 (r) 1,487.3
31 U.S. government
securities 858.5 949.1 954.7
32 Other securities 516.4 534.9 532.6
33 Loans and leases in bank
credit (2) 3,653.9 (r) 3,830.2 (r) 3,832.3
34 Commercial and
industrial 786.6 (r) 775.9 (r) 776.0 (r)
35 Real estate 1,884.8 (r) 2,055.9 (r) 2,066.1 (r)
36 Revolving home
equity 197.4 223.0 228.4
37 Other 1,687.5 (r) 1,832.9 (r) 1,837.7 (r)
38 Consumer 571.0 595.0 (r) 584.7 (r)
39 Credit cards and
related plans 224.1 225.8 219.6
40 Other 346.9 369.2 (r) 365.0
41 Security (3) 84.3 72.0 71.9
42 Other loans and leases 327.2 (r) 331.4 (r) 333.6 (r)
43 Interbank loans 280.4 274.4 292.3
44 Cash assets (4) 258.8 279.1 270.1
45 Other assets (5) 473.7 497.6 (r) 493.4 (r)
46 Total assets (6) 5,966.8 6,288.7 (r) 6,299.2 (r)
Liabilities
47 Deposits 3,933.1 4,103.3 4,140.3
48 Transaction 574.0 595.8 599.8
49 Nontransaction 3,359.1 3,507.4 3,540.5
50 Large time 563.7 584.4 582.1
51 Other 2,795.4 2,923.0 2,958.4
52 Borrowings 1,059.7 1,095.9 (r) 1,093.0
53 From banks in the U.S. 378.1 360.5 367.0
54 From others 681.6 735.4 726.0
55 Net due to related foreign
offices 173.3 226.9 (r) 215.5 (r)
56 Other liabilities 332.2 361.2 349.7
57 Total liabilities 5,498.3 5,787.3 5,798.5
58 Residual (assets less
liabilities) (7) 468.4 (r) 501.4 (r) 500.6 (r)
Monthly averages
2003
Account Apr. (r) May (r) June (r)
Seasonally adjusted
Assets
1 Bank credit 5,372.0 5,464.6 5,523.6
2 Securities in bank
credit 1,501.4 1,548.8 1,573.9
3 U.S. government
securities 980.2 1,007.8 1,027.1
4 Other securities 521.1 541.0 546.8
5 Loans and leases in bank
credit (2) 3,870.6 3,915.7 3,949.7
6 Commercial and
industrial 774.7 768.4 763.7
7 Real estate 2,092.1 2,114.6 2,137.3
8 Revolving home
equity 234.7 238.2 244.5
9 Other 1,857.4 1,876.4 1,892.8
10 Consumer 584.6 599.9 595.8
11 Security (3) 72.4 91.4 90.3
12 Other loans and leases 346.8 351.4 362.6
13 Interbank loans 282.0 291.7 289.0
14 Cash assets (4) 270.0 267.3 277.1
15 Other assets (5) 496.2 509.5 512.9
16 Total assets (6) 6,345.4 6,458.0 6,527.6
Liabilities
17 Deposits 4,178.0 4,210.0 4,259.8
18 Transaction 621.2 623.3 627.9
19 Nontransaction 3,556.8 3,586.7 3,631.9
20 Large time 582.2 595.7 590.5
21 Other 2,974.5 2,991.0 3,041.4
22 Borrowings 1,098.9 1,133.1 1,162.4
23 From banks in the U.S. 369.7 358.5 373.9
24 From others 729.2 774.6 788.5
25 Net due to related foreign
offices 212.2 224.3 208.3
26 Other liabilities 364.4 372.2 375.8
27 Total liabilities 5,853.5 5,939.7 6,006.2
28 Residual (assets less
liabilities) (7) 492.0 518.4 521.4
Not seasonally adjusted
Assets
29 Bank credit 5,366.7 5,464.0 5,523.5
30 Securities in bank
credit 1,499.2 1,546.6 1,567.8
31 U.S. government
securities 980.1 1,005.8 1,022.4
32 Other securities 519.1 540.8 545.4
33 Loans and leases in bank
credit (2) 3,867.5 3,917.4 3,955.8
34 Commercial and
industrial 779.4 774.0 768.2
35 Real estate 2,088.5 2,118.4 2,138.5
36 Revolving home
equity 234.4 239.4 245.4
37 Other 1,854.0 1,879.0 1,893.2
38 Consumer 581.8 588.7 592.4
39 Credit cards and
related plans 215.6 221.5 223.2
40 Other 366.2 367.2 369.3
41 Security (3) 71.3 86.0 91.4
42 Other loans and leases 346.5 350.3 365.1
43 Interbank loans 293.0 287.5 290.3
44 Cash assets (4) 270.4 265.3 270.5
45 Other assets (5) 495.8 507.1 508.9
46 Total assets (6) 6,351.3 6,448.8 6,518.0
Liabilities
47 Deposits 4,197.1 4,197.6 4,250.7
48 Transaction 627.7 613.5 622.8
49 Nontransaction 3,569.4 3,584.1 3,627.9
50 Large time 580.4 593.9 590.0
51 Other 2,989.1 2,990.2 3,037.8
52 Borrowings 1,103.1 1,138.9 1,161.4
53 From banks in the U.S. 373.8 360.8 372.1
54 From others 729.3 778.0 789.4
55 Net due to related foreign
offices 203.5 223.5 207.3
56 Other liabilities 352.2 371.1 374.2
57 Total liabilities 5,855.9 5,931.0 5,993.5
58 Residual (assets less
liabilities) (7) 495.4 517.7 524.5
Wednesday
Monthly averages figures
2003
Account July (r) Aug. Aug. 6
Seasonally adjusted
Assets
1 Bank credit 5,587.2 5,592.8 5,618.9
2 Securities in bank
credit 1,549.7 1,507.5 1,541.2
3 U.S. government
securities 1,000.4 969.0 998.3
4 Other securities 549.3 538.5 542.9
5 Loans and leases in bank
credit (2) 4,037.5 4,085.2 4,077.7
6 Commercial and
industrial 767.6 766.1 765.3
7 Real estate 2,175.2 2,220.7 2,222.7
8 Revolving home
equity 248.7 253.1 251.3
9 Other 1,926.5 1,967.6 1,971.4
10 Consumer 596.2 596.9 594.5
11 Security (3) 95.9 95.4 95.2
12 Other loans and leases 402.6 406.1 400.1
13 Interbank loans 288.0 293.7 300.2
14 Cash assets (4) 282.4 289.4 280.3
15 Other assets (5) 522.0 532.0 536.4
16 Total assets (6) 6,605.0 6,632.3 6,661.0
Liabilities
17 Deposits 4,294.6 4,344.4 4,337.2
18 Transaction 643.8 643.3 614.6
19 Nontransaction 3,650.8 3,701.1 3,722.6
20 Large time 586.4 600.3 601.8
21 Other 3,064.4 3,100.8 3,120.8
22 Borrowings 1,217.9 1,224.3 1,251.5
23 From banks in the U.S. 374.2 382.5 394.7
24 From others 843.8 841.7 856.8
25 Net due to related foreign
offices 229.0 230.3 225.2
26 Other liabilities 349.8 332.4 342.9
27 Total liabilities 6,091.3 6,131.4 6,156.7
28 Residual (assets less
liabilities) (7) 513.6 500.9 504.3
Not seasonally adjusted
Assets
29 Bank credit 5,569.8 5,579.3 5,605.9
30 Securities in bank
credit 1,534.5 1,500.2 1,532.9
31 U.S. government
securities 992.3 965.1 994.0
32 Other securities 542.2 535.2 538.8
33 Loans and leases in bank
credit (2) 4,035.3 4,079.0 4,073.0
34 Commercial and
industrial 769.6 763.5 765.6
35 Real estate 2,173.6 2,220.8 2,221.2
36 Revolving home
equity 248.7 253.2 251.0
37 Other 1,924.9 1,967.5 1,970.2
38 Consumer 590.6 593.2 588.0
39 Credit cards and
related plans 219.9 220.0 217.0
40 Other 370.7 373.3 371.0
41 Security (3) 94.6 94.2 94.1
42 Other loans and leases 406.8 407.3 404.1
43 Interbank loans 283.4 287.9 299.5
44 Cash assets (4) 274.6 275.0 267.7
45 Other assets (5) 521.4 528.9 536.1
46 Total assets (6) 6,574.7 6,595.4 6,634.1
Liabilities
47 Deposits 4,275.0 4,309.9 4,324.9
48 Transaction 635.3 627.3 604.0
49 Nontransaction 3,639.7 3,682.6 3,720.9
50 Large time 584.7 598.9 601.1
51 Other 3,055.0 3,083.7 3,119.9
52 Borrowings 1,210.9 1,204.3 1,234.5
53 From banks in the U.S. 370.8 378.0 392.1
54 From others 840.1 826.3 842.4
55 Net due to related foreign
offices 222.9 230.0 221.1
56 Other liabilities 342.4 331.9 338.1
57 Total liabilities 6,051.2 6,076.1 6,118.6
58 Residual (assets less
liabilities) (7) 523.5 519.3 515.5
Wednesday figures
2003
Account Aug. 13 Aug. 20 Aug. 27
Seasonally adjusted
Assets
1 Bank credit 5,594.8 5,583.8 5,573.6
2 Securities in bank
credit 1,495.6 1,502.8 1,498.4
3 U.S. government
securities 953.6 959.9 965.8
4 Other securities 542.0 543.0 532.6
5 Loans and leases in bank
credit (2) 4,099.2 4,081.0 4,075.2
6 Commercial and
industrial 764.6 766.4 768.1
7 Real estate 2,218.3 2,215.4 2,215.8
8 Revolving home
equity 252.2 253.3 254.1
9 Other 1,966.2 1,962.1 1,961.7
10 Consumer 595.7 597.7 597.9
11 Security (3) 110.3 92.3 87.7
12 Other loans and leases 410.3 409.1 405.7
13 Interbank loans 306.6 290.7 290.0
14 Cash assets (4) 283.7 291.4 296.0
15 Other assets (5) 535.9 529.6 519.9
16 Total assets (6) 6,645.2 6,619.7 6,602.7
Liabilities
17 Deposits 4,366.9 4,325.1 4,334.0
18 Transaction 636.9 652.5 682.7
19 Nontransaction 3,730.0 3,672.6 3,651.4
20 Large time 600.4 598.0 598.5
21 Other 3,129.6 3,074.5 3,052.9
22 Borrowings 1,224.9 1,218.1 1,217.9
23 From banks in the U.S. 382.1 383.8 379.1
24 From others 842.8 834.3 838.8
25 Net due to related foreign
offices 221.6 240.7 235.7
26 Other liabilities 335.6 325.4 312.3
27 Total liabilities 6,149.0 6,109.2 6,100.0
28 Residual (assets less
liabilities) (7) 496.2 510.6 502.7
Not seasonally adjusted
Assets
29 Bank credit 5,579.6 5,567.9 5,554.4
30 Securities in bank
credit 1,485.9 1,494.3 1,490.8
31 U.S. government
securities 947.9 955.3 961.3
32 Other securities 538.0 539.0 529.5
33 Loans and leases in bank
credit (2) 4,093.6 4,073.5 4,063.6
34 Commercial and
industrial 762.4 763.5 763.1
35 Real estate 2,220.8 2,214.6 2,215.5
36 Revolving home
equity 252.3 253.5 254.5
37 Other 1,968.5 1,961.1 1,961.0
38 Consumer 591.0 594.7 596.1
39 Credit cards and
related plans 218.3 221.2 221.2
40 Other 372.7 373.5 375.0
41 Security (3) 108.6 90.6 86.1
42 Other loans and leases 410.8 410.2 402.7
43 Interbank loans 301.9 285.9 272.1
44 Cash assets (4) 263.9 274.1 271.3
45 Other assets (5) 534.1 524.6 511.2
46 Total assets (6) 6,603.5 6,576.5 6,533.2
Liabilities
47 Deposits 4,334.5 4,282.8 4,262.4
48 Transaction 619.2 632.7 650.9
49 Nontransaction 3,715.3 3,650.1 3,611.5
50 Large time 598.9 596.7 596.2
51 Other 3,116.4 3,053.4 3,015.2
52 Borrowings 1,201.2 1,199.8 1,192.6
53 From banks in the U.S. 377.4 380.6 372.1
54 From others 823.9 819.2 820.5
55 Net due to related foreign
offices 218.6 240.9 240.5
56 Other liabilities 332.0 325.5 317.1
57 Total liabilities 6,086.3 6,049.1 6,012.6
58 Residual (assets less
liabilities) (7) 517.2 527.4 520.6
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
2002 2003
Account Aug. (r) Feb. (r) Mar. (r)
Seasonally adjusted
Assets
1 Bank credit 2,762.9 2,931.7 2,929.1
2 Securities in bank credit 738.1 805.5 803.2
3 U.S. government
securities 428.0 479.8 476.6
4 Trading account 47.8 54.5 41.8
5 Investment account 380.1 425.3 434.7
6 Other securities 310.1 325.7 326.6
7 Trading account 174.9 172.6 171.6
8 Investment account 135.3 153.1 155.0
9 State and local
government 28.1 29.6 30.1
10 Other 107.2 123.5 124.9
11 Loans and leases in bank
credits (2) 2,024.7 2,126.2 2,125.9
12 Commercial and
industrial 499.8 482.0 478.2
13 Bankers acceptances .0 .0 .0
14 Other 499.8 482.0 478.2
15 Real estate 908.7 1,030.6 1,037.9
16 Revolving home equity 125.2 142.4 147.8
17 Other 783.5 888.2 890.1
18 Consumer 311.4 317.5 313.8
19 Security (3) 78.4 65.0 64.1
20 Federal fund, sold to
and repurchase
agreements with
broker-dealers 67.1 54.3 52.6
21 Other 11.3 10.7 11.4
22 State and local
government 13.0 12.3 12.5
23 Agricultural 8.3 7.9 7.9
24 Federal funds sold to
and repurchase
agreements with
others 17.6 24.5 24.0
25 All other loan 67.3 75.6 77.1
26 Lease-financing
receivables 120.3 110.8 110.5
27 Interbank loan 191.0 162.2 171.8
28 Federal funds sold to and
repurchase agreements
with commercial bank 98.8 91.2 100.3
29 Other 92.2 71.0 71.5
30 Cash assets (4) 151.3 151.1 148.3
31 Other assets (5) 333.0 355.2 347.6
32 Total assets (6) 3,394.3 3,555.4 3,551.8
Liabilities
33 Deposits 1,919.1 1,996.4 2,015.3
34 Transaction 288.2 290.8 291.0
35 Nontransaction 1,630.8 1,705.5 1,724.3
36 Large time 265.5 273.7 269.1
37 Other 1,365.3 1,431.9 1,455.2
38 Borrowings 738.0 693.4 699.6
39 From banks in the U.S. 261.7 199.6 208.0
40 From others 476.4 493.9 491.6
41 Net due to related foreign
offices 165.0 210.2 208.9
42 Other liabilities 268.2 280.1 275.4
43 Total liabilities 3,090.3 3,180.1 3,199.2
44 Residual (assets less
liabilities) (7) 303.9 375.4 352.6
Assets
45 Bank credit 2,753.0 2,933.8 2,923.0
46 Securities in bank credit 733.0 813.8 805.5
47 U.S. government
securities 426.0 485.3 478.8
48 Trading account 47.6 55.1 42.1
49 Investment account 378.4 430.2 436.8
50 Mortgage-backed
securities 306.7 331.3 334.7
51 Other 71.7 98.8 102.0
52 One year or less 17.3 22.9 24.4
53 One to five years 42.5 57.4 57.3
54 More than five
years 11.9 18.6 20.3
55 Other securities 307.1 328.5 326.7
56 Trading account 173.1 174.1 171.7
57 Investment account 133.9 154.4 155.0
58 State and local
government 27.8 29.8 30.1
59 Other 106.1 124.6 124.9
60 Loans and leases in bank
credit (2) 2,019.9 2,120.0 2,117.5
61 Commercial and
industrial 498.4 480.0 478.1
62 Bankers acceptances .0 .0 .0
63 Other 498.4 480.0 478.1
64 Real state 909.3 1,026.4 1,031.1
65 Revolving home equity 125.6 142.7 146.1
66 Other 465.6 560.3 561.2
67 Commercial 318.1 323.4 323.8
68 Consumer 309.2 320.7 314.3
69 Credit cards and
related plans 114.9 109.8 105.9
70 Other 194.3 210.9 208.4
71 Security (3) 77.3 63.9 63.5
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 66.2 53.4 52.2
73 Other 11.1 10.6 11.3
74 State and local
government 13.0 12.3 12.5
75 Agricultural 8.4 7.8 7.8
76 Federal funds sold to
and repurchase
agreements with other 17.6 24.5 24.0
77 All other loans 67.5 72.3 74.9
78 Lease-financing
receivables 119.2 112.1 111.2
79 Interbank loans 186.0 160.4 171.9
80 Federal funds sold to and
repurchase agreements
with commercial banks 96.4 90.3 100.4
81 Other 89.6 70.2 71.5
82 Cash assets (4) 141.6 151.0 143.3
83 Other assets (5) 330.3 352.1 345.9
84 Total assets (6) 3,366.8 3,552.2 3,538.9
Liabilities
85 Deposits 1,904.3 2,000.4 2,013.4
86 Transaction 277.2 286.5 286.6
87 Nontransaction 1,627.2 1,713.9 1,726.7
88 Large time 264.2 274.6 267.6
89 Other 1,362.9 1,439.3 1,459.1
90 Borrowings 721.0 695.6 696.0
91 From banks in the U.S. 257.3 203.1 211.4
92 From nonbanks in the U.S. 463.7 492.5 484.6
93 Net due to related foreign
offices 164.9 214.3 204.8
94 Other liabilities 267.7 285.6 270.1
95 Total liabilities 3,057.9 3,195.9 3,184.3
96 Residual (assets less
liabilities) (7) 308.9 356.3 354.6
Monthly averages
2003
Account Apr. (r) May (r) June (r)
Seasonally adjusted
Assets
1 Bank credit 2,949.3 3,024.5 3,059.6
2 Securities in bank credit 810.1 856.6 880.6
3 U.S. government
securities 493.3 520.0 536.0
4 Trading account 40.7 43.6 38.7
5 Investment account 452.6 476.4 497.4
6 Other securities 316.8 336.6 344.6
7 Trading account 161.5 183.4 188.1
8 Investment account 155.3 153.2 156.5
9 State and local
government 30.9 31.3 32.2
10 Other 124.4 121.9 124.3
11 Loans and leases in bank
credits (2) 2,139.2 2,167.9 2,179.0
12 Commercial and
industrial 476.0 468.2 461.6
13 Bankers acceptances .0 .0 .0
14 Other 476.0 468.2 461.6
15 Real estate 1,043.6 1,058.3 1,065.9
16 Revolving home equity 150.4 152.7 156.1
17 Other 893.3 905.6 909.7
18 Consumer 312.3 312.5 314.2
19 Security (3) 64.3 82.6 80.9
20 Federal fund, sold to
and repurchase
agreements with
broker-dealers 52.4 63.0 63.5
21 Other 11.8 19.5 17.4
22 State and local
government 12.4 12.4 12.7
23 Agricultural 7.7 7.5 7.4
24 Federal funds sold to
and repurchase
agreements with
others 25.2 27.1 28.5
25 All other loan 88.2 89.5 97.2
26 Lease-financing
receivables 109.4 109.8 110.7
27 Interbank loan 171.1 171.0 165.1
28 Federal funds sold to and
repurchase agreements
with commercial bank 99.1 100.8 97.7
29 Other 72.0 70.2 67.4
30 Cash assets (4) 135.8 132.9 140.4
31 Other assets (5) 347.2 356.5 359.2
32 Total assets (6) 3,559.4 3,640.6 3,680.2
Liabilities
33 Deposits 2,039.8 2,046.6 2,075.9
34 Transaction 296.2 297.3 300.2
35 Nontransaction 1,743.6 1,749.2 1,775.7
36 Large time 267.2 279.1 271.1
37 Other 1,476.4 1,470.2 1,504.6
38 Borrowings 697.4 722.9 746.7
39 From banks in the U.S. 212.3 203.6 216.7
40 From others 485.1 519.3 530.0
41 Net due to related foreign
offices 199.3 211.9 196.3
42 Other liabilities 284.9 292.2 296.5
43 Total liabilities 3,221.4 3,273.5 3,315.3
44 Residual (assets less
liabilities) (7) 338.0 367.1 364.9
Assets
45 Bank credit 2,945.8 3,025.4 3,061.9
46 Securities in bank credit 806.4 855.1 874.9
47 U.S. government
securities 491.7 518.8 531.8
48 Trading account 40.6 43.5 38.4
49 Investment account 451.1 475.3 493.3
50 Mortgage-backed
securities 354.4 380.2 389.4
51 Other 96.7 95.0 103.9
52 One year or less 24.6 23.2 24.3
53 One to five years 55.2 55.2 57.3
54 More than five
years 16.9 16.7 22.3
55 Other securities 314.7 336.3 343.1
56 Trading account 160.5 183.2 187.3
57 Investment account 154.3 153.1 155.8
58 State and local
government 30.7 31.3 32.1
59 Other 123.6 121.8 123.8
60 Loans and leases in bank
credit (2) 2,139.4 2,170.3 2,187.0
61 Commercial and
industrial 478.6 471.2 463.9
62 Bankers acceptances .0 .0 .0
63 Other 478.6 471.2 463.9
64 Real state 1,041.8 1,062.7 1,068.3
65 Revolving home equity 150.3 153.8 157.1
66 Other 569.8 588.3 591.6
67 Commercial 321.7 320.5 319.7
68 Consumer 312.9 313.4 314.3
69 Credit cards and
related plans 103.5 103.9 104.9
70 Other 209.4 209.6 209.4
71 Security (3) 62.9 77.3 82.1
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 51.4 59.0 64.5
73 Other 11.6 18.3 17.6
74 State and local
government 12.4 12.4 12.7
75 Agricultural 7.7 7.6 7.5
76 Federal funds sold to
and repurchase
agreements with other 25.2 27.1 28.5
77 All other loans 88.0 88.9 99.3
78 Lease-financing
receivables 109.8 109.8 110.3
79 Interbank loans 174.4 171.7 169.3
80 Federal funds sold to and
repurchase agreements
with commercial banks 101.0 101.2 100.2
81 Other 73.4 70.5 69.1
82 Cash assets (4) 138.5 132.0 136.0
83 Other assets (5) 346.8 354.3 355.2
84 Total assets (6) 3,561.5 3,639.0 3,678.1
Liabilities
85 Deposits 2,047.2 2,042.2 2,076.3
86 Transaction 302.4 293.0 297.4
87 Nontransaction 1,744.9 1,749.2 1,778.9
88 Large time 265.3 277.3 270.7
89 Other 1,479.5 1,471.9 1,508.3
90 Borrowings 701.6 728.7 745.7
91 From banks in the U.S. 216.4 205.9 214.8
92 From nonbanks in the U.S. 485.1 522.7 530.9
93 Net due to related foreign
offices 190.7 211.0 195.2
94 Other liabilities 272.7 291.0 294.8
95 Total liabilities 3,212.1 3,273.0 3,312.2
96 Residual (assets less
liabilities) (7) 349.4 366.1 365.9
Wednesday
Monthly averages figures
2003 2003
Account July (r) Aug. Aug. 6
Seasonally adjusted
Assets
1 Bank credit 3,096.3 3,082.8 3,112.9
2 Securities in bank credit 847.4 801.7 836.1
3 U.S. government
securities 503.0 467.6 495.7
4 Trading account 37.6 33.5 32.7
5 Investment account 465.3 434.1 463.0
6 Other securities 344.4 334.1 340.4
7 Trading account 173.2 162.2 167.8
8 Investment account 171.2 171.9 172.6
9 State and local
government 32.3 31.4 31.5
10 Other 138.9 140.5 141.2
11 Loans and leases in bank
credits (2) 2,248.9 2,281.1 2,276.8
12 Commercial and
industrial 464.1 458.9 459.3
13 Bankers acceptances .0 .0 n.a.
14 Other 464.1 458.9 459.3
15 Real estate 1,089.9 1,123.4 1,126.1
16 Revolving home equity 159.8 163.6 162.2
17 Other 930.1 959.7 963.9
18 Consumer 311.7 312.7 311.3
19 Security (3) 86.6 86.0 85.8
20 Federal fund, sold to
and repurchase
agreements with
broker-dealers 68.7 66.8 67.5
21 Other 17.9 19.2 18.3
22 State and local
government 13.0 13.3 12.8
23 Agricultural 7.3 7.4 7.3
24 Federal funds sold to
and repurchase
agreements with
others 25.8 24.2 22.2
25 All other loan 140.5 145.8 142.4
26 Lease-financing
receivables 109.9 109.4 109.6
27 Interbank loan 168.8 178.5 186.6
28 Federal funds sold to and
repurchase agreements
with commercial bank 97.7 99.0 108.1
29 Other 71.1 79.5 78.5
30 Cash assets (4) 142.1 146.7 139.4
31 Other assets (5) 364.2 367.7 367.6
32 Total assets (6) 3,727.9 3,731.6 3,763.0
Liabilities
33 Deposits 2,093.6 2,128.0 2,120.8
34 Transaction 307.2 304.1 286.5
35 Nontransaction 1,786.5 1,823.9 1,834.2
36 Large time 268.9 283.2 284.0
37 Other 1,517.5 1,540.7 1,550.2
38 Borrowings 794.2 785.9 821.5
39 From banks in the U.S. 213.9 213.4 228.7
40 From others 580.3 572.6 592.8
41 Net due to related foreign
offices 217.2 218.3 214.1
42 Other liabilities 269.2 251.2 261.4
43 Total liabilities 3,374.2 3,383.4 3,417.7
44 Residual (assets less
liabilities) (7) 353.6 348.1 345.3
Assets
45 Bank credit 3,084.0 3,072.5 3,106.4
46 Securities in bank credit 834.0 796.2 830.4
47 U.S. government
securities 496.7 465.4 494.1
48 Trading account 37.2 33.3 32.6
49 Investment account 459.5 432.1 461.5
50 Mortgage-backed
securities 364.1 335.5 366.2
51 Other 95.4 96.6 95.3
52 One year or less 24.1 24.4 24.0
53 One to five years 51.2 52.5 52.3
54 More than five
years 20.1 19.7 19.0
55 Other securities 337.3 330.8 336.2
56 Trading account 169.6 160.6 165.7
57 Investment account 167.7 170.2 170.5
58 State and local
government 31.6 31.1 31.1
59 Other 136.1 139.1 139.4
60 Loans and leases in bank
credit (2) 2,250.0 2,276.3 2,276.1
61 Commercial and
industrial 465.3 457.5 460.2
62 Bankers acceptances .0 .0 n.a.
63 Other 465.3 457.5 460.2
64 Real state 1,090.0 1,124.2 1,127.0
65 Revolving home equity 160.3 164.2 162.4
66 Other 613.2 643.5 648.3
67 Commercial 316.5 316.6 316.3
68 Consumer 309.7 310.2 308.3
69 Credit cards and
related plans 100.0 99.7 98.7
70 Other 209.8 210.5 209.6
71 Security (3) 85.4 84.8 84.5
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 67.8 65.9 66.5
73 Other 17.6 18.9 18.0
74 State and local
government 13.0 13.3 12.8
75 Agricultural 7.4 7.5 7.4
76 Federal funds sold to
and repurchase
agreements with other 25.8 24.2 22.2
77 All other loans 143.9 146.2 144.7
78 Lease-financing
receivables 109.4 108.4 108.9
79 Interbank loans 168.9 173.3 182.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 97.8 96.2 105.4
81 Other 71.1 77.1 76.5
82 Cash assets (4) 136.6 137.1 130.6
83 Other assets (5) 363.6 364.7 367.3
84 Total assets (6) 3,709.7 3,703.3 3,742.4
Liabilities
85 Deposits 2,087.7 2,111.6 2,117.6
86 Transaction 301.3 291.9 277.1
87 Nontransaction 1,786.4 1,819.7 1,840.5
88 Large time 267.3 281.8 283.3
89 Other 1,519.1 1,537.9 1,557.3
90 Borrowings 787.1 765.9 804.5
91 From banks in the U.S. 210.5 208.8 226.1
92 From nonbanks in the U.S. 576.6 557.1 578.4
93 Net due to related foreign
offices 211.1 218.0 210.0
94 Other liabilities 261.9 250.7 256.6
95 Total liabilities 3,347.8 3,346.2 3,388.7
96 Residual (assets less
liabilities) (7) 361.9 357.0 353.8
Wednesday figures
2003
Account Aug. 13 Aug. 20 Aug. 27
Seasonally adjusted
Assets
1 Bank credit 3,089.5 3,070.1 3,060.2
2 Securities in bank credit 789.4 796.7 791.8
3 U.S. government
securities 451.0 457.7 466.7
4 Trading account 29.1 29.4 36.8
5 Investment account 422.0 428.3 429.9
6 Other securities 338.4 339.0 325.1
7 Trading account 165.6 165.3 155.7
8 Investment account 172.7 173.7 169.4
9 State and local
government 31.5 31.3 31.4
10 Other 141.2 142.4 138.0
11 Loans and leases in bank
credits (2) 2,300.1 2,273.5 2,268.4
12 Commercial and
industrial 458.4 458.7 459.7
13 Bankers acceptances n.a. n.a. n.a.
14 Other 458.4 458.7 459.7
15 Real estate 1,124.7 1,116.6 1,116.3
16 Revolving home equity 163.0 163.8 164.4
17 Other 961.7 952.8 951.9
18 Consumer 311.9 311.6 315.1
19 Security (3) 100.9 83.0 78.1
20 Federal fund, sold to
and repurchase
agreements with
broker-dealers 78.8 64.0 60.0
21 Other 22.1 19.0 18.2
22 State and local
government 13.7 13.2 13.4
23 Agricultural 7.4 7.4 7.5
24 Federal funds sold to
and repurchase
agreements with
others 24.9 24.2 24.9
25 All other loan 148.7 149.5 144.1
26 Lease-financing
receivables 109.5 109.2 109.3
27 Interbank loan 192.3 175.4 171.1
28 Federal funds sold to and
repurchase agreements
with commercial bank 115.4 95.9 80.5
29 Other 76.9 79.5 90.6
30 Cash assets (4) 141.2 150.2 149.1
31 Other assets (5) 369.1 367.7 361.6
32 Total assets (6) 3,747.7 3,719.2 3,697.6
Liabilities
33 Deposits 2,142.1 2,117.0 2,122.6
34 Transaction 303.8 309.5 325.4
35 Nontransaction 1,838.4 1,807.5 1,797.2
36 Large time 281.2 282.5 282.3
37 Other 1,557.2 1,525.0 1,514.8
38 Borrowings 793.6 773.5 767.8
39 From banks in the U.S. 218.2 209.4 199.6
40 From others 575.4 564.1 568.2
41 Net due to related foreign
offices 212.8 228.9 220.4
42 Other liabilities 255.0 243.4 231.9
43 Total liabilities 3,403.5 3,362.8 3,342.7
44 Residual (assets less
liabilities) (7) 344.1 356.4 354.9
Assets
45 Bank credit 3,077.4 3,057.8 3,042.3
46 Securities in bank credit 781.7 790.7 784.6
47 U.S. government
securities 447.2 455.7 462.6
48 Trading account 28.8 29.2 36.4
49 Investment account 418.4 426.5 426.1
50 Mortgage-backed
securities 321.9 329.9 329.1
51 Other 96.5 96.5 97.0
52 One year or less 24.5 24.7 24.2
53 One to five years 51.1 52.7 53.2
54 More than five
years 21.0 19.1 19.6
55 Other securities 334.4 335.1 322.0
56 Trading account 163.7 163.4 154.2
57 Investment account 170.7 171.7 167.8
58 State and local
government 31.2 30.9 31.1
59 Other 139.6 140.8 136.7
60 Loans and leases in bank
credit (2) 2,295.7 2,267.0 2,257.7
61 Commercial and
industrial 457.1 456.9 456.5
62 Bankers acceptances n.a. n.a. n.a.
63 Other 457.1 456.9 456.5
64 Real state 1,127.4 1,116.6 1,115.8
65 Revolving home equity 163.4 164.3 165.1
66 Other 647.5 635.2 634.2
67 Commercial 316.5 317.1 316.6
68 Consumer 309.1 309.3 313.0
69 Credit cards and
related plans 98.7 99.0 101.9
70 Other 210.5 210.2 211.0
71 Security (3) 99.2 81.4 76.9
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 77.5 62.7 59.0
73 Other 21.7 18.6 17.9
74 State and local
government 13.7 13.2 13.4
75 Agricultural 7.5 7.5 7.5
76 Federal funds sold to
and repurchase
agreements with other 24.9 24.2 24.9
77 All other loans 148.1 149.8 141.6
78 Lease-financing
receivables 108.7 108.2 108.1
79 Interbank loans 187.8 172.3 161.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 112.7 94.2 75.8
81 Other 75.1 78.1 85.2
82 Cash assets (4) 128.5 139.3 133.9
83 Other assets (5) 367.2 362.7 353.9
84 Total assets (6) 3,716.4 3,687.6 3,646.7
Liabilities
85 Deposits 2,127.7 2,096.4 2,083.0
86 Transaction 291.3 295.8 303.4
87 Nontransaction 1,836.4 1,800.6 1,779.6
88 Large time 279.7 281.2 280.1
89 Other 1,556.7 1,519.4 1,499.5
90 Borrowings 769.9 755.2 742.5
91 From banks in the U.S. 213.4 206.2 192.6
92 From nonbanks in the U.S. 556.5 549.0 549.9
93 Net due to related foreign
offices 209.7 229.2 225.2
94 Other liabilities 251.5 243.6 236.7
95 Total liabilities 3,358.7 3,324.4 3,287.3
96 Residual (assets less
liabilities) (7) 357.6 363.2 359.4
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
D. Small domestically chartered commercial banks
Billions of dollars
Monthly average
2002 2003
Account Aug. (r) Feb. (r) Mar. (r)
Seasonally adjusted
Assets
1 Bank credit 2,278.6 2,383.5 2,399.9
2 Securities in bank credit 643.3 669.3 679.1
3 U.S. government
securities 434.0 463.0 473.1
4 Other securities 209.3 206.3 206.0
5 Loans and leases in bank
credit (2) 1,635.3 1,714.2 1,720.8
6 Commercial and
industrial 289.4 297.3 298.0
7 Real estate 976.2 1,029.5 1,037.2
9 Revolving home equity 72.1 80.3 82.7
9 Other 904.1 949.2 954.5
10 Consumer 262.9 274.3 273.2
11 Security (3) 7.1 8.2 8.1
12 Other loans and leases 99.7 104.9 104.3
13 Interbank loans 95.1 115.0 114.0
14 Cash assets (4) 121.2 128.5 131.4
15 Other assets (5) 143.5 145.5 147.4
16 Total assets (6) 2,607.7 2,741.2 2,761.8
Liabilities
17 Deposits 2,045.7 2,096.2 2,122.0
18 Transaction 300.3 312.7 316.9
19 Nontransaction 1,745.5 1,783.5 1,805.1
20 Large time 299.5 309.8 314.5
21 Other 1,446.0 1,473.7 1,490.6
22 Borrowings 338.7 400.3 397.0
23 From bank in the U.S. 120.7 157.4 155.6
24 From others 218.0 242.9 241.5
25 Net due to related foreign
offices 8.5 12.6 10.7
26 Other liabilities 64.5 75.7 79.6
27 Total liabilities 2,457.4 2,584.7 2,609.3
28 Residual (assets less
liabilities) (7) 150.3 156.4 152.5
Not seasonally adjusted
Assets
29 Bank credit 2,275.8 2,380.3 2,396.6
30 Securities in bank credit 641.8 670.1 681.8
31 U.S. government
securities 432.5 463.8 475.8
32 Other securities 209.3 206.3 206.0
33 Loans and leases in bank
credit (2) 1,634.0 1,710.2 1,714.8
34 Commercial and
industrial 288.2 295.8 297.9
35 Real estate 975.5 1,029.6 1,035.0
36 Revolving home equity 71.8 80.4 82.3
37 Other 903.7 949.2 952.8
39 Consumer 261.7 274.3 270.3
39 Credit cards and
related plans 109.2 116.0 113.7
40 Other 152.5 158.2 156.6
41 Security (3) 7.1 8.0 8.4
42 Other loans and leases 101.5 102.5 103.2
43 Interbank loans 94.4 114.0 120.5
44 Cash assets (4) 117.1 128.1 126.8
45 Other assets (5) 143.5 145.5 147.4
46 Total assets (6) 2,600.0 2,736.6 2,760.3
Liabilities
47 Deposits 2,028.8 2,102.9 2,127.0
48 Transaction 296.8 309.3 313.2
49 Nontransaction 1,732.0 1,793.6 1,813.8
50 Large time 299.5 309.8 314.5
51 Other 1,432.5 1,483.8 1,499.2
52 Borrowings 338.7 400.3 397.0
53 From banks in the U.S. 120.7 157.4 155.6
54 From others 218.0 242.9 241.5
55 Net due to related foreign
offices 8.5 12.6 10.7
56 Other liabilities 64.5 75.7 79.6
57 Total liabilities 2,440.4 2,591.5 2,614.3
58 Residual (assets less
liabilities) (7) 159.6 145.1 146.0
Monthly averages
2003
Account Apr. (r) May (r) June (r)
Seasonally adjusted
Assets
1 Bank credit 2,422.7 2,440.1 2,463.9
2 Securities in bank credit 691.3 692.3 693.3
3 U.S. government
securities 486.9 487.8 491.1
4 Other securities 204.3 204.4 202.3
5 Loans and leases in bank
credit (2) 1,731.4 1,747.9 1,770.6
6 Commercial and
industrial 298.7 300.2 302.1
7 Real estate 1,048.5 1,056.3 1,071.4
9 Revolving home equity 84.3 85.5 88.4
9 Other 964.1 970.7 983.0
10 Consumer 272.3 277.4 281.6
11 Security (3) 8.2 8.9 9.4
12 Other loans and leases 103.8 105.1 106.1
13 Interbank loans 110.9 120.7 123.9
14 Cash assets (4) 134.2 134.4 136.7
15 Other assets (5) 149.0 151.9 153.7
16 Total assets (6) 2,786.0 2,817.4 2,847.5
Liabilities
17 Deposits 2,138.2 2,163.4 2,183.9
18 Transaction 325.0 326.0 327.7
19 Nontransaction 1,813.2 1,837.5 1,856.2
20 Large time 315.1 316.6 319.4
21 Other 1,498.1 1,520.8 1,536.8
22 Borrowings 401.5 410.2 415.7
23 From bank in the U.S. 157.4 154.9 157.3
24 From others 244.2 255.3 258.4
25 Net due to related foreign
offices 12.8 12.4 12.0
26 Other liabilities 79.5 80.1 79.3
27 Total liabilities 2,632.0 2,666.2 2,690.9
28 Residual (assets less
liabilities) (7) 154.0 151.2 156.5
Not seasonally adjusted
Assets
29 Bank credit 2,420.9 2,438.5 2,461.6
30 Securities in bank credit 692.8 691.4 692.9
31 U.S. government
securities 488.4 487.0 490.7
32 Other securities 204.3 204.4 202.3
33 Loans and leases in bank
credit (2) 1,728.1 1,747.1 1,768.7
34 Commercial and
industrial 300.9 302.7 304.3
35 Real estate 1,046.7 1,055.7 1,070.2
36 Revolving home equity 84.1 85.6 88.3
37 Other 962.6 970.2 981.9
39 Consumer 268.8 275.3 278.1
39 Credit cards and
related plans 112.1 117.7 118.3
40 Other 156.8 157.6 159.8
41 Security (3) 8.4 8.7 9.3
42 Other loans and leases 103.3 104.6 106.8
43 Interbank loans 118.6 115.7 120.9
44 Cash assets (4) 131.9 133.3 134.5
45 Other assets (5) 149.0 152.9 153.7
46 Total assets (6) 2,789.7 2,809.7 2,840.0
Liabilities
47 Deposits 2,149.9 2,155.4 2,174.3
48 Transaction 325.3 320.5 325.4
49 Nontransaction 1,824.6 1,834.9 1,848.9
50 Large time 315.1 316.6 319.4
51 Other 1,509.5 1,518.2 1,529.6
52 Borrowings 401.5 410.2 415.7
53 From banks in the U.S. 157.4 154.9 157.3
54 From others 244.2 255.3 258.4
55 Net due to related foreign
offices 12.8 12.4 12.0
56 Other liabilities 79.5 80.1 79.3
57 Total liabilities 2,643.7 2,658.1 2,681.4
58 Residual (assets less
liabilities) (7) 146.0 151.6 158.6
Wednesday
Monthly averages figures
2003 2003
Account July (r) Aug. Aug. 6
Seasonally adjusted
Assets
1 Bank credit 2,490.9 2,509.9 2,506.0
2 Securities in bank credit 702.3 705.8 705.1
3 U.S. government
securities 497.5 501.4 502.5
4 Other securities 204.9 204.4 202.5
5 Loans and leases in bank
credit (2) 1,788.6 1,804.1 1,800.9
6 Commercial and
industrial 303.4 307.3 306.0
7 Real estate 1,085.2 1,097.3 1,096.6
9 Revolving home equity 88.9 89.4 89.1
9 Other 996.4 1,007.9 1,007.5
10 Consumer 284.6 284.2 283.2
11 Security (3) 9.3 9.4 9.4
12 Other loans and leases 106.0 105.9 105.8
13 Interbank loans 119.2 115.3 113.6
14 Cash assets (4) 140.3 142.7 140.9
15 Other assets (5) 157.8 164.3 168.8
16 Total assets (6) 2,877.1 2,900.7 2,898.0
Liabilities
17 Deposits 2,201.0 2,216.4 2,216.4
18 Transaction 336.7 339.2 328.0
19 Nontransaction 1,864.3 1,877.2 1,888.4
20 Large time 317.4 317.1 317.8
21 Other 1,546.9 1,560.1 1,570.6
22 Borrowings 423.8 438.4 430.0
23 From bank in the U.S. 160.3 169.2 166.0
24 From others 263.5 269.2 264.0
25 Net due to related foreign
offices 11.8 12.0 11.1
26 Other liabilities 80.5 81.2 81.5
27 Total liabilities 2,717.1 2,747.9 2,739.0
28 Residual (assets less
liabilities) (7) 160.0 152.8 159.0
Not seasonally adjusted
Assets
29 Bank credit 2,485.8 2,506.7 2,499.4
30 Securities in bank credit 700.5 704.0 702.5
31 U.S. government
securities 495.6 499.7 499.9
32 Other securities 204.9 204.4 202.5
33 Loans and leases in bank
credit (2) 1,785.3 1,802.7 1,797.0
34 Commercial and
industrial 304.3 306.0 305.4
35 Real estate 1,083.6 1,096.5 1,094.2
36 Revolving home equity 88.4 89.1 88.6
37 Other 995.1 1,007.5 1,005.6
39 Consumer 280.9 283.1 279.7
39 Credit cards and
related plans 120.0 120.3 118.3
40 Other 160.9 162.8 161.4
41 Security (3) 9.2 9.4 9.6
42 Other loans and leases 107.3 107.7 108.1
43 Interbank loans 114.5 114.5 117.6
44 Cash assets (4) 138.0 138.0 137.1
45 Other assets (5) 157.8 164.3 168.8
46 Total assets (6) 2,865.0 2,892.1 2,891.6
Liabilities
47 Deposits 2,187.3 2,198.3 2,207.3
48 Transaction 334.0 335.3 326.9
49 Nontransaction 1,853.3 1,863.0 1,880.4
50 Large time 317.4 317.1 317.8
51 Other 1,535.9 1,545.8 1,562.6
52 Borrowings 423.8 438.4 430.0
53 From banks in the U.S. 160.3 169.2 166.0
54 From others 263.5 269.2 264.0
55 Net due to related foreign
offices 11.8 12.0 11.1
56 Other liabilities 80.5 81.2 81.5
57 Total liabilities 2,703.4 2,729.9 2,729.9
58 Residual (assets less
liabilities) (7) 161.6 162.2 161.7
Wednesday figures
2003
Account Aug. 13 Aug. 20 Aug. 27
Seasonally adjusted
Assets
1 Bank credit 2,505.2 2,513.7 2,513.5
2 Securities in bank credit 706.2 706.2 706.6
3 U.S. government
securities 502.6 502.2 499.1
4 Other securities 203.6 204.0 207.5
5 Loans and leases in bank
credit (2) 1,799.1 1,807.5 1,806.8
6 Commercial and
industrial 306.2 307.7 308.4
7 Real estate 1,093.6 1,098.8 1,099.5
9 Revolving home equity 89.2 89.5 89.7
9 Other 1,004.4 1,009.3 1,009.8
10 Consumer 283.8 286.1 282.8
11 Security (3) 9.4 9.3 9.6
12 Other loans and leases 106.0 105.6 106.6
13 Interbank loans 114.3 115.2 118.9
14 Cash assets (4) 142.5 141.3 147.0
15 Other assets (5) 166.9 161.9 157.3
16 Total assets (6) 2,897.6 2,900.6 2,905.1
Liabilities
17 Deposits 2,224.8 2,208.1 2,211.5
18 Transaction 333.2 343.0 357.3
19 Nontransaction 1,891.6 1,865.1 1,854.2
20 Large time 319.2 315.5 316.1
21 Other 1,572.4 1,549.5 1,538.1
22 Borrowings 431.3 444.6 450.1
23 From bank in the U.S. 163.9 174.4 179.5
24 From others 267.4 270.2 270.6
25 Net due to related foreign
offices 8.9 11.8 15.3
26 Other liabilities 80.5 81.9 80.4
27 Total liabilities 2,745.5 2,746.4 2,757.3
28 Residual (assets less
liabilities) (7) 152.1 154.2 147.8
Not seasonally adjusted
Assets
29 Bank credit 2,502.1 2,510.1 2,512.1
30 Securities in bank credit 704.2 703.6 706.2
31 U.S. government
securities 500.7 499.6 498.7
32 Other securities 203.6 204.0 207.5
33 Loans and leases in bank
credit (2) 1,797.9 1,806.5 1,805.9
34 Commercial and
industrial 305.4 306.5 306.6
35 Real estate 1,093.4 1,097.9 1,099.7
36 Revolving home equity 88.9 89.1 89.4
37 Other 1,004.5 1,008.8 1,010.3
39 Consumer 281.8 285.4 283.2
39 Credit cards and
related plans 119.7 122.1 119.2
40 Other 162.2 163.3 164.0
41 Security (3) 9.4 9.2 9.1
42 Other loans and leases 107.9 107.4 107.3
43 Interbank loans 114.1 113.6 111.1
44 Cash assets (4) 135.4 134.8 137.5
45 Other assets (5) 166.9 161.9 157.3
46 Total assets (6) 2,887.2 2,888.8 2,886.5
Liabilities
47 Deposits 2,206.8 2,186.4 2,179.4
48 Transaction 327.9 336.9 347.6
49 Nontransaction 1,878.9 1,849.5 1,831.9
50 Large time 319.2 315.5 316.1
51 Other 1,559.7 1,533.9 1,515.8
52 Borrowings 431.3 444.6 450.1
53 From banks in the U.S. 163.9 174.4 179.5
54 From others 267.4 270.2 270.6
55 Net due to related foreign
offices 8.9 11.8 15.3
56 Other liabilities 80.5 81.9 80.4
57 Total liabilities 2,727.5 2,724.7 2,725.3
58 Residual (assets less
liabilities) (7) 159.6 164.2 161.2
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
E. Foreign-related institutions
Billions of dollars
Monthly average
2002 2003
Account Aug. Feb. Mar. (r)
Seasonally adjusted
Assets
1 Bank credit 619.9 646.9 (r) 663.5
2 Securities in bank credit 248.1 279.3 (r) 283.8
3 U.S. government
securities 81.8 116.7 (r) 122.5
4 Other securities 166.3 162.7 161.3
5 Loans and leases in bank
credit (2) 371.9 367.6 379.7
6 Commercial and
industrial 189.1 174.1 171.7
7 Real estate 18.9 19.7 19.8
8 Security (3) 91.5 108.2 (r) 121.4
9 Other loans and leases 72.4 65.6 66.7
10 Interbank loans 17.9 27.0 27.2
11 Cash assets (4) 47.8 38.7 43.9
12 Other assets (5) 27.7 34.5 (r) 30.0
13 Total assets (6) 712.9 746.7 (r) 764.1
Liabilities
14 Deposits 497.6 442.8 (r) 448.4
15 Transaction 10.1 10.3 11.5
16 Nontransaction 487.5 432.6 436.9
17 Borrowings 213.8 275.0 (r) 293.2
18 From banks in the U.S. 21.3 31.1 33.7
19 From others 192.5 243.9 (r) 259.5
20 Net due to related foreign
offices -86.2 -78.4 -83.8
21 Other liabilities 97.6 99.6 (r) 94.7
22 Total liabilities 722.9 738.9 (r) 752.5
23 Residual (assets less
liabilities) (7) -10.0 7.8 (r) 11.6
Not seasonally adjusted
Assets
24 Bank credit 613.9 (r) 651.4 (r) 661.7
25 Securities in bank credit 248.1 279.3 (r) 283.8
26 U.S. government
securities 81.8 116.7 (r) 122.5
27 Trading account 13.0 36.4 37.2
28 Investment account 68.7 80.3 (r) 85.4
29 Other securities 166.3 162.7 161.3
30 Trading account 110.6 101.9 (r) 101.6
31 Investment account 55.8 60.7 59.7
32 Loans and leases in bank
credit (2) 365.8 372.0 377.9
33 Commercial and
industrial 187.7 175.6 173.2
34 Real estate 18.9 19.7 19.8
35 Security (3) 88.1 111.0 117.3
36 Other loans and leases 71.2 65.7 67.6
37 Interbank loans 17.9 27.0 27.2
38 Cash assets (4) 45.8 39.7 42.7
39 Other assets (5) 27.4 35.0 (r) 30.7
40 Total assets (6) 704.5 752.7 (r) 761.8
Liabilities
41 Deposits 480.7 453.0 452.4
42 Transaction 9.8 10.3 11.1
43 Nontransaction 470.8 442.7 (r) 441.3
44 Borrowings 213.8 275.0 (r) 293.2
45 From banks in the U.S. 21.3 31.1 33.7
46 From others 192.5 243.9 (r) 259.5
47 Net due to related foreign
offices -87.9 -77.3 -81.6
48 Other liabilities 96.5 100.4 (r) 96.3
49 Total liabilities 703.1 751.1 760.3
50 Residual (assets less
liabilities) (7) 1.4 1.6 (r) 1.5
Monthly averages
2003
Account Apr. (r) May (r) June (r)
Seasonally adjusted
Assets
1 Bank credit 655.0 669.6 672.3
2 Securities in bank credit 277.3 288.5 288.4
3 U.S. government
securities 124.2 127.4 124.3
4 Other securities 153.1 161.2 164.1
5 Loans and leases in bank
credit (2) 377.7 381.0 383.9
6 Commercial and
industrial 172.2 170.4 163.3
7 Real estate 19.0 19.3 19.4
8 Security (3) 118.1 118.9 121.8
9 Other loans and leases 68.3 72.4 79.3
10 Interbank loans 22.4 24.6 30.7
11 Cash assets (4) 49.7 51.1 54.3
12 Other assets (5) 32.5 36.6 36.7
13 Total assets (6) 759.2 781.4 793.5
Liabilities
14 Deposits 434.6 433.4 442.6
15 Transaction 11.2 10.8 11.4
16 Nontransaction 423.4 422.6 431.2
17 Borrowings 297.7 305.1 315.8
18 From banks in the U.S. 27.4 31.3 34.7
19 From others 270.3 273.7 281.1
20 Net due to related foreign
offices -72.9 -77.9 -81.9
21 Other liabilities 90.6 106.8 113.5
22 Total liabilities 750.0 767.4 790.0
23 Residual (assets less
liabilities) (7) 9.2 13.9 3.5
Not seasonally adjusted
Assets
24 Bank credit 654.9 664.8 668.8
25 Securities in bank credit 277.3 288.5 288.4
26 U.S. government
securities 124.2 127.4 124.3
27 Trading account 39.8 43.1 43.2
28 Investment account 84.4 84.3 81.1
29 Other securities 153.1 161.2 164.1
30 Trading account 97.9 105.2 105.8
31 Investment account 55.2 56.0 58.3
32 Loans and leases in bank
credit (2) 377.6 376.3 380.4
33 Commercial and
industrial 171.3 168.6 162.8
34 Real estate 19.0 19.3 19.4
35 Security (3) 118.5 116.6 119.3
36 Other loans and leases 68.8 71.8 78.9
37 Interbank loans 22.4 24.6 30.7
38 Cash assets (4) 47.5 49.4 51.8
39 Other assets (5) 32.4 36.7 35.3
40 Total assets (6) 756.7 775.1 786.1
Liabilities
41 Deposits 440.6 438.8 440.8
42 Transaction 10.6 10.4 11.0
43 Nontransaction 430.0 428.4 429.7
44 Borrowings 297.7 305.1 315.8
45 From banks in the U.S. 27.4 31.3 34.7
46 From others 270.3 273.7 281.1
47 Net due to related foreign
offices -73.3 -77.5 -83.7
48 Other liabilities 90.3 107.1 111.9
49 Total liabilities 755.3 773.5 784.8
50 Residual (assets less
liabilities) (7) 1.5 1.6 1.3
Monthly averages Wednesday
figures
2003 2003
Account July (r) Aug. Aug. 6
Seasonally adjusted
Assets
1 Bank credit 649.9 630.6 633.9
2 Securities in bank credit 267.7 267.5 259.3
3 U.S. government
securities 114.5 107.4 108.8
4 Other securities 153.2 160.0 150.5
5 Loans and leases in bank
credit (2) 382.2 363.1 374.6
6 Commercial and
industrial 162.7 156.3 158.4
7 Real estate 19.4 19.1 19.3
8 Security (3) 118.9 111.6 115.5
9 Other loans and leases 81.2 76.2 81.4
10 Interbank loans 33.1 32.4 32.9
11 Cash assets (4) 54.0 54.3 53.8
12 Other assets (5) 33.2 36.3 37.3
13 Total assets (6) 769.7 753.2 757.5
Liabilities
14 Deposits 453.4 455.2 459.9
15 Transaction 11.4 11.8 11.1
16 Nontransaction 442.0 443.4 448.8
17 Borrowings 297.0 293.6 308.3
18 From banks in the U.S. 36.8 33.8 33.7
19 From others 260.3 259.8 274.6
20 Net due to related foreign
offices -86.0 -103.5 -104.6
21 Other liabilities 108.9 116.1 106.9
22 Total liabilities 773.3 761.4 770.4
23 Residual (assets less
liabilities) (7) -3.6 -8.2 -13.0
Not seasonally adjusted
Assets
24 Bank credit 642.4 624.0 629.2
25 Securities in bank credit 267.7 267.5 259.3
26 U.S. government
securities 114.5 107.4 108.8
27 Trading account 40.5 39.6 38.9
28 Investment account 74.0 67.9 69.9
29 Other securities 153.2 160.0 150.5
30 Trading account 95.8 99.8 92.2
31 Investment account 57.3 60.2 58.4
32 Loans and leases in bank
credit (2) 374.8 356.6 369.8
33 Commercial and
industrial 161.8 155.0 157.1
34 Real estate 19.4 19.1 19.3
35 Security (3) 114.1 107.5 113.8
36 Other loans and leases 79.5 74.9 79.6
37 Interbank loans 33.1 32.4 32.9
38 Cash assets (4) 51.1 52.1 51.3
39 Other assets (5) 32.1 35.8 36.6
40 Total assets (6) 758.2 743.9 749.5
Liabilities
41 Deposits 443.7 439.7 446.6
42 Transaction 11.4 11.5 10.8
43 Nontransaction 432.3 428.3 435.8
44 Borrowings 297.0 293.6 308.3
45 From banks in the U.S. 36.8 33.8 33.7
46 From others 260.3 259.8 274.6
47 Net due to related foreign
offices -89.3 -104.9 -109.1
48 Other liabilities 106.3 114.9 103.1
49 Total liabilities 757.6 743.3 748.9
50 Residual (assets less
liabilities) (7) .6 .6 .6
Wednesday figures
2003
Account Aug. 13 Aug. 20 Aug. 27
Seasonally adjusted
Assets
1 Bank credit 635.6 619.4 634.4
2 Securities in bank credit 268.6 268.6 269.4
3 U.S. government
securities 109.2 105.7 105.7
4 Other securities 159.4 162.8 163.7
5 Loans and leases in bank
credit (2) 367.0 350.9 365.0
6 Commercial and
industrial 157.1 155.2 155.8
7 Real estate 19.3 18.9 18.9
8 Security (3) 115.9 102.6 113.5
9 Other loans and leases 74.7 74.1 76.8
10 Interbank loans 27.8 35.0 33.2
11 Cash assets (4) 54.3 54.0 54.5
12 Other assets (5) 39.6 38.6 33.2
13 Total assets (6) 756.9 746.6 754.8
Liabilities
14 Deposits 461.1 454.1 450.1
15 Transaction 11.5 11.8 12.9
16 Nontransaction 449.6 442.3 437.2
17 Borrowings 307.5 277.9 283.9
18 From banks in the U.S. 36.3 32.4 32.2
19 From others 271.2 245.5 251.7
20 Net due to related foreign
offices -122.1 -96.5 -92.7
21 Other liabilities 119.9 121.2 115.4
22 Total liabilities 766.3 756.6 756.7
23 Residual (assets less
liabilities) (7) -9.4 -10.0 -1.9
Not seasonally adjusted
Assets
24 Bank credit 630.7 612.7 626.6
25 Securities in bank credit 268.6 268.6 269.4
26 U.S. government
securities 109.2 105.7 105.7
27 Trading account 40.7 38.8 38.7
28 Investment account 68.5 66.9 67.0
29 Other securities 159.4 162.8 163.7
30 Trading account 99.1 101.8 103.0
31 Investment account 60.3 61.0 60.8
32 Loans and leases in bank
credit (2) 362.0 344.1 357.2
33 Commercial and
industrial 156.0 154.4 154.1
34 Real estate 19.3 18.9 18.9
35 Security (3) 113.5 97.9 108.6
36 Other loans and leases 73.3 72.9 75.7
37 Interbank loans 27.8 35.0 33.2
38 Cash assets (4) 51.8 51.9 52.4
39 Other assets (5) 38.8 37.9 33.1
40 Total assets (6) 748.6 737.0 744.9
Liabilities
41 Deposits 445.1 437.6 435.9
42 Transaction 11.2 11.5 12.5
43 Nontransaction 433.9 426.1 423.4
44 Borrowings 307.5 277.9 283.9
45 From banks in the U.S. 36.3 32.4 32.2
46 From others 271.2 245.5 251.7
47 Net due to related foreign
offices -123.3 -98.5 -91.7
48 Other liabilities 118.8 119.4 116.3
49 Total liabilities 748.0 736.4 744.3
50 Residual (assets less
liabilities) (7) .6 .6 .6
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
F. Memo items
Billions of dollars
Monthly averages
2002 2003
Account Aug. Feb. Mar.
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 112.3 116.8 115.1
2 Revaluation losses on
off-balance-sheet
items (8) 94.2 94.9 91.3
3 Mortgage-backed
securities (9) 340.4 377.0 (r) 381.4
4 Pass-through 254.2 (r) 276.9 276.2
5 CMO, REMIC, and other 86.3 100.0 105.1
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 9.1 11.7 11.7
7 Off-shore credit to U.S.
residents (11) 19.0 18.2 18.2
8 Securitized consumer
loans (12) 143.3 (r) 151.0 (r) 152.9 (r)
9 Credit cards and related
plans 125.5 134.8 136.7
10 Other 17.8 (r) 16.2 (r) 16.1 (r)
11 Securitized business
loans (12) 17.8 (r) 17.2 (r) 15.8 (r)
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 297.2 314.4 (r) 325.5 (r)
13 Securitized consumer
loans (12) 210.7 (r) 203.8 (r) 202.4 (r)
14 Credit cards and related
plans 199.0 195.8 194.3
15 Other 2.7 (r) 8.0 (r) 8.1 (r)
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 65.0 67.1 65.4
17 Revaluation losses on
off-balance-sheet
items (8) 64.6 64.9 63.6
18 Securitized business
loans (12) 9.1 4.6 4.1
Monthly averages
2003
Account Apr. May (r) June (r)
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 105.7 128.1 135.0
2 Revaluation losses on
off-balance-sheet
items (8) 81.4 105.1 110.0
3 Mortgage-backed
securities (9) 400.8 427.1 436.7
4 Pass-through 288.6 (r) 314.3 324.8
5 CMO, REMIC, and other 112.2 112.9 111.9
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 10.1 (r) 11.2 12.8
7 Off-shore credit to U.S.
residents (11) 17.5 17.3 16.6
8 Securitized consumer
loans (12) 154.6 (r) 155.3 157.3
9 Credit cards and related
plans 138.7 139.4 140.6
10 Other 15.9 (r) 15.9 16.6
11 Securitized business
loans (12) 10.0 10.2 9.9
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 336.1 (r) 337.1 336.8
13 Securitized consumer
loans (12) 204.6 (r) 204.3 204.0
14 Credit cards and related
plans 196.7 (r) 196.5 196.3
15 Other 7.9 (r) 7.8 7.7
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 64.9 73.6 72.6
17 Revaluation losses on
off-balance-sheet
items (8) 62.4 72.6 72.6
18 Securitized business
loans (12) 3.3 3.0 2.5
Wednesday
Monthly averages figures
2003 2003
Account July (r) Aug. Aug. 6
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 112.5 96.5 98.6
2 Revaluation losses on
off-balance-sheet
items (8) 85.3 79.4 80.5
3 Mortgage-backed
securities (9) 412.7 387.6 417.3
4 Pass-through 310.5 274.1 299.8
5 CMO, REMIC, and other 111.1 113.5 117.5
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 6.8 -.3 .7
7 Off-shore credit to U.S.
residents (11) 15.5 14.7 15.3
8 Securitized consumer
loans (12) 161.6 162.5 162.6
9 Credit cards and related
plans 144.0 144.5 144.3
10 Other 17.5 18.0 18.3
11 Securitized business
loans (12) 8.4 7.2 7.8
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 332.0 330.3 329.6
13 Securitized consumer
loans (12) 200.6 201.8 201.8
14 Credit cards and related
plans 193.0 194.2 194.2
15 Other 7.6 7.6 7.6
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 65.3 65.9 62.5
17 Revaluation losses on
off-balance-sheet
items (8) 64.9 64.9 61.2
18 Securitized business
loans (12) 1.5 1.4 1.5
Wednesday figures
2003
Account Aug. 13 Aug. 20 Aug. 27
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 97.0 96.4 92.3
2 Revaluation losses on
off-balance-sheet
items (8) 79.8 80.7 76.7
3 Mortgage-backed
securities (9) 374.6 382.8 379.9
4 Pass-through 258.6 269.6 271.9
5 CMO, REMIC, and other 116.0 113.2 108.0
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) -.1 .4 -.6
7 Off-shore credit to U.S.
residents (11) 14.6 14.0 15.5
8 Securitized consumer
loans (12) 162.5 162.8 162.3
9 Credit cards and related
plans 144.3 144.8 144.5
10 Other 18.2 18.0 17.9
11 Securitized business
loans (12) 7.8 6.8 6.8
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 332.0 330.1 329.0
13 Securitized consumer
loans (12) 201.7 200.5 202.8
14 Credit cards and related
plans 194.1 192.9 195.2
15 Other 7.6 7.6 7.6
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items (8) 65.4 66.3 67.9
17 Revaluation losses on
off-balance-sheet
items (8) 64.2 65.6 66.9
18 Securitized business
loans (12) 1.4 1.4 1.4
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 bank, and Edge Act and agreement corporations
(foreign-related institutions). Excludes International Banking
Facilities. Data are Wednesday values or pro rata averages of Wednesday
values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on
weekly samples and on quarter-end condition reports. Data are adjusted
for breaks caused by reclassifications of assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19 are
adjusted to remove the estimated effects of mergers between these two
groups. The adjustment for mergers changes past levels to make them
comparable with current levels. Estimated quantities of balance sheet
items acquired in mergers are removed from past data for the bank group
that contained the acquired bank and put into past data for the group
containing the acquiring bank. Balance sheet data for acquired banks
are obtained from Call Reports, and a ratio procedure is used to adjust
past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans made
to commercial banks in the United States, all of which are included in
"Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection, balances
due from depository institutions, and balances due from Federal Reserve
Banks.
(5.) Excludes the due-from position with related foreign offices, which
is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and leases,
and reserves for transfer risk. Loans are reported gross of these
items.
(7.) This balancing item is not intended as a measure of equity capital
for use in capital adequacy analysis. On a seasonally adjusted basis,
this item reflects any differences in the seasonal patterns estimated
for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data are
reported net of tax effects. Data shown are restated to include an
estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1998 1999 2000 2001
1 All issuers 1,163,303 1,403,023 1,619,274 1,458,870
Financial
companies (1)
2 Dealer-place)
paper, total (2) 614,142 786,643 963,070 967,748
3 Directly placed
paper, total (3) 322,030 337,240 312,771 266,276
4 Nonfinancial
companies (4) 227,132 279,140 343,433 224,847
Year ending
December 2003
Item 2002 Feb. Mar.
1 All issuers 1,347,997 1,346,782 1,341,270
Financial
companies (1)
2 Dealer-place)
paper, total (2) 976,163 952,868 946,773
3 Directly placed
paper, total (3) 217,787 239,037 244,504
4 Nonfinancial
companies (4) 154,047 154,876 149,993
2003
Item Apr. May June July
1 All issuers 1,342,147 1,365,704 1,324,911 1,347,286
Financial
companies (1)
2 Dealer-place)
paper, total (2) 961,002 1,003,088 974,116 994,384
3 Directly placed
paper, total (3) 232,879 222,597 219,960 218,311
4 Nonfinancial
companies (4) 148,266 140,020 130,835 134,591
(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
Average Average
Date of change Rate Period rate Period rate
2000-Jan. 1 8.50 2000 9.23 2001-Jan. 9.05
Feb. 3 8.75 2001 6.91 Feb. 8.50
Mar. 22 9.00 2002 4.67 Mar. 8.32
May 17 9.50 Apr. 7.80
2000-Jan. 8.50 May 7.24
2001-Jan. 4 9.00 Feb. 8.73 June 6.98
Feb. 1 8.50 Mar. 8.83 July 6.75
Mar. 21 8.00 Apr. 9.00 Aug. 6.67
Apr. 19 7.50 May 9.24 Sept. 6.28
May 16 7.00 June 9.50 Oct. 5.53
June 28 6.75 July 9.50 Nov. 5.10
Aug. 22 6.50 Aug. 9.50 Dec. 4.84
Sept. 18 6.00 Sept. 9.50
Oct. 3 5.50 Oct. 9.50
Nov. 7 5.00 Nov. 9.50
Dec. 12 4.75 Dec. 9.50
2002-Nov. 7 4.25
2003-June 27 4.00
Average
Period rate
2002-Jan. 4.75
Feb. 4.75
Mar. 4.75
Apr. 4.75
May 4.75
June 4.75
July 4.75
Aug. 4.75
Sept. 4.75
Oct. 4.75
Nov. 4.35
Dec. 4.25
2003-Jan. 4.25
Feb. 4.25
Mar. 4.25
Apr. 4.25
May 4.25
June 4.22
July 4.00
Aug. 4.00
Sept. 4.00
(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
2003
Item 2000 2001 2002 May June July
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 6.24 3.88 1.67 1.26 1.22 1.01
2 Discount window primary
credit (2,4) n.a. n.a. n.a. 2.25 2.20 2.00
Commercial paper (3,5,6)
Nonfinancial
3 1-month 6.27 3.78 1.67 1.21 1.06 1.01
4 2-month 6.29 3.68 1.67 1.20 1.03 1.02
5 3-month 6.31 3.65 1.69 1.19 1.01 1.01
Financial
6 1-month 6.28 3.80 1.68 1.24 1.08 1.02
7 2-month 6.30 3.71 1.69 1.22 1.04 1.03
8 3-month 6.33 3.65 1.70 1.20 1.02 1.03
Certificates of deposit,
secondary market (3,7)
9 1-month 6.35 3.84 1.72 1.26 1.10 1.05
10 3-month 6.46 3.71 1.73 1.22 1.04 1.05
11 6-month 6.59 3.66 1.81 1.19 1.02 1.06
12 Eurodollar deposits,
3-month (3,8) 6.45 3.70 1.73 1.21 1.03 1.04
U.S. Treasury bills
Secondary market (3,5)
13 4-week n.a. 2.43 1.60 1.06 0.96 0.88
14 3-month 5.82 3.40 1.61 1.07 0.92 0.90
15 6-month 5.90 3.34 1.68 1.08 0.92 0.95
U.S. TREASURY NOTES
AND BONDS
Constant maturities (9)
16 1-year 6.11 3.49 2.00 1.18 1.01 1.12
17 2-year 6.26 3.83 2.64 1.42 1.23 1.47
18 3-year 6.22 4.09 3.10 1.75 1.51 1.93
19 5-year 6.16 4.56 3.82 2.52 2.27 2.87
20 7-year 6.20 4.88 4.30 3.07 2.84 3.45
21 10-year 6.03 5.02 4.61 3.57 3.33 3.98
22 20-year 6.23 5.63 5.43 4.52 4.34 4.92
Treasury long-term
average (10,11)
23 25 years and above n.a. n.a. 5.41 4.61 4.45 5.00
STATE AND LOCAL NOTES
AND BONDS
Moody's series (12)
24 Aaa 5.58 5.01 4.87 4.16 4.07 4.59
25 Baa 6.19 5.75 5.64 4.91 4.68 5.17
26 Bond Buyer series (13) 5.71 5.15 5.04 4.41 4.33 4.74
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 7.98 7.49 7.10 5.88 5.70 6.13
Rating group
28 Aaa (15) 7.62 7.08 6.49 5.22 4.97 5.49
29 Aa 7.83 7.26 6.93 5.85 5.72 6.07
30 A 8.11 7.67 7.18 6.08 5.92 6.35
31 Baa 8.37 7.95 7.80 6.38 6.19 6.62
MEMO
Dividend-price ratio (16)
32 Common stocks 1.15 1.32 1.61 1.72 1.64 1.64
2003 2003, week ending
Item Aug. Aug. 1 Aug. 8 Aug. 15
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.03 1.04 0.97 0.98
2 Discount window primary
credit (2,4) 2.00 2.00 2.00 2.00
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.03 1.02 1.03 1.03
4 2-month 1.03 1.04 1.03 1.03
5 3-month 1.04 1.03 1.03 1.04
Financial
6 1-month 1.04 1.04 1.04 1.04
7 2-month 1.05 1.04 1.05 1.05
8 3-month 1.06 1.04 1.05 1.06
Certificates of deposit,
secondary market (3,7)
9 1-month 1.07 1.07 1.07 1.07
10 3-month 1.08 1.07 1.08 1.08
11 6-month 1.13 1.10 1.13 1.13
12 Eurodollar deposits,
3-month (3,8) 1.07 1.05 1.06 1.07
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.93 0.92 0.90 0.92
14 3-month 0.95 0.95 0.94 0.94
15 6-month 1.03 1.00 1.02 1.03
U.S. TREASURY NOTES
AND BONDS
Constant maturities (9)
16 1-year 1.31 1.22 1.26 1.29
17 2-year 1.86 1.71 1.77 1.82
18 3-year 2.44 2.27 2.32 2.41
19 5-year 3.37 3.31 3.24 3.35
20 7-year 3.96 3.91 3.84 3.97
21 10-year 4.45 4.40 4.34 4.49
22 20-year 5.39 5.34 5.34 5.45
Treasury long-term
average (10,11)
23 25 years and above 5.41 5.38 5.38 5.48
STATE AND LOCAL NOTES
AND BONDS
Moody's series (12)
24 Aaa 4.82 4.91 4.85 4.97
25 Baa 5.42 5.47 5.45 5.57
26 Bond Buyer series (13) 5.10 5.07 5.06 5.18
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 6.46 6.44 6.44 6.52
Rating group
28 Aaa (15) 5.88 5.84 5.83 5.93
29 Aa 6.31 6.33 6.31 6.36
30 A 6.64 6.62 6.62 6.69
31 Baa 7.01 6.97 6.98 7.07
MEMO
Dividend-price ratio (16)
32 Common stocks 1.67 1.67 1.69 1.69
2003, week ending
Item Aug. 22 Aug. 29
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.18 1.00
2 Discount window primary
credit (2,4) 2.00 2.00
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.04 1.02
4 2-month 1.03 1.03
5 3-month 1.05 1.04
Financial
6 1-month 1.05 1.04
7 2-month 1.06 1.05
8 3-month 1.07 1.07
Certificates of deposit,
secondary market (3,7)
9 1-month 1.06 1.07
10 3-month 1.08 1.09
11 6-month 1.13 1.14
12 Eurodollar deposits,
3-month (3,8) 1.07 1.07
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.94 0.97
14 3-month 0.95 0.98
15 6-month 1.03 1.04
U.S. TREASURY NOTES
AND BONDS
Constant maturities (9)
16 1-year 1.33 1.35
17 2-year 1.89 1.98
18 3-year 2.47 2.55
19 5-year 3.39 3.49
20 7-year 3.99 4.04
21 10-year 4.47 4.49
22 20-year 5.39 5.38
Treasury long-term
average (10,11)
23 25 years and above 5.41 5.37
STATE AND LOCAL NOTES
AND BONDS
Moody's series (12)
24 Aaa 4.67 4.80
25 Baa 5.27 5.40
26 Bond Buyer series (13) 5.10 5.07
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 6.46 6.43
Rating group
28 Aaa (15) 5.89 5.87
29 Aa 6.29 6.28
30 A 6.63 6.61
31 Baa 7.02 6.97
MEMO
Dividend-price ratio (16)
32 Common stocks 1.66 1.65
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.) The rate charged for discounts made and advances extended under
the Federal Reserve's primary credit discount window program, which
became effective January 9, 2003. This rate replaces that for
adjustment credit, which was discontinued after January 8, 2003. For
further information, see http://www.federalreserve.gov/boarddocs/press/
bcreg/2002/200210312/default.htm. The rate reported is that for the
Federal Reserve Bank of New York. Historical series for the rate on
adjustment credit is available at:
http://www.federalreserve.gov/releases/h15/data.htm.
(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/release/cp) for more information.
(7.) An average of dealer offering rates on nationally traded
certificates of deposit.
(8.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(9.) Yields on actively traded issues adjusted to constant maturities.
(10.) Based on the unweighted average of the bid yields for all
Treasury fixed-coupon securities with remaining terms to maturity of 25
years and over.
(11.) A factor for adjusting the daily long-term average in order to
estimate a 30-year rate can be found at http://www.treas.gov/offices/
domestic-finance/debt-management/interest-rate/ltcompositeindex.html.
(12.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(13.) State and local government general obligation bonds maturing in
twenty years are used in compiling this index. The twenty-bond index
has a rating roughly equivalent to Moody's Al rating. Based on Thursday
figures.
(14.) Daily figures are averages of Aaa, Aa, A, and Baa yields from
Moody's Investors Service. Based on yields to maturity on selected
long-term bonds.
(15.) Effective December 7, 2001, the Moody's Aaa yield includes yields
only for industrial firms. Prior to December 7, 2001, the Aaa yield
represented both utilities and industrial.
(16.) Standard & Poor's corporate series. Common stock ratio is based
on the 500 stocks in the price index.
SOURCE: U.S. Department of the Treasury.
1.36 STOCK MARKET Selected Statistics
Indicator 2000 2001 2002
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 6,806.46 6,407.95 5,571.46
2 Industrial 809.40 749.46 656.44
3 Transportation 414.73 444.45 430.63
4 Utility 478.99 377.72 260.50
5 Finance 552.48 596.61 554.88
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 1,427.22 1,194.18 993.94
7 American Stock Exchange
(Aug. 31, 1973 = 50)
(2) 922.22 879.08 860.11
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,026,867 1,216,529 1,411,689
9 American Stock Exchange 51,437 68,074 n.a.
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers (3) 198,790 150,450 134,180
Free credit balances at
brokers (4)
11 Margin accounts (5) 100,680 101,640 95,690
12 Cash accounts 84,400 78,040 73,340
2002 2003
Indicator Dec. Jan. Feb.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 5,075.76 5,055.78 4,738.56
2 Industrial 593.15 587.78 553.90
3 Transportation 401.39 394.60 367.55
4 Utility 236.71 236.42 214.64
5 Finance 519.72 522.51 485.72
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 899.18 895.84 837.62
7 American Stock Exchange
(Aug. 31, 1973 = 50)
(2) 823.77 824.64 818.84
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,210,332 1,441,846 1,302,011
9 American Stock Exchange n.a. n.a. n.a.
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers (3) 134,380 134,910 134,030
Free credit balances at
brokers (4)
11 Margin accounts (5) 95,690 96,430 95,400
12 Cash accounts 73,340 66,200 67,260
2003
Indicator Mar. Apr. May
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 4,724.22 4,977.45 5,269.96
2 Industrial 558.10 583.74 613.26
3 Transportation 366.90 395.85 425.12
4 Utility 211.45 221.06 238.33
5 Finance 486.71 522.05 549.91
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 846.62 890.03 935.96
7 American Stock Exchange
(Aug. 31, 1973 = 50)
(2) 822.34 837.92 894.74
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,403,742 1,381,580 1,455,858
9 American Stock Exchange n.a. n.a. n.a.
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers (3) 135,910 140,450 146,380
Free credit balances at
brokers (4)
11 Margin accounts (5) 90,830 88,770 88,540
12 Cash accounts 68,860 70,080 71,270
2003
Indicator June July Aug.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 5,583.60 5,567.94 5,580.87
2 Industrial 649.25 648.00 651.19
3 Transportation 441.81 445.29 451.31
4 Utility 254.16 244.67 238.06
5 Finance 579.48 588.81 582.20
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 988.00 992.54 989.53
7 American Stock Exchange
(Aug. 31, 1973 = 50)
(2) 962.46 959.26 960.50
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,472,560 1,412,818 1,175,615
9 American Stock Exchange n.a. n.a. n.a.
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers (3) 148,550 148,450 149,660
Free credit balances at
brokers (4)
11 Margin accounts (5) 87,920 91,210 88,040
12 Cash accounts 74,350 76,170 72,000
Margin requirements (percent of market
value and effective date) (6)
Mar. 11, 1968 June 8, 1968 May 6, 1970
13 Margin stocks 70 80 65
14 Convertible bonds 50 60 50
15 Short sales 70 80 65
Dec. 6, 1971 Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 55 65 50
14 Convertible bonds 50 50 50
15 Short sales 55 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 at the current market value of the
stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option
maintenance margin required by the appropriate exchange or
self-regulatory organization; such maintenance margin rules must be
approved by the Securities and Exchange Commission.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2001
Item June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,753.9 5,834.5 5,970.3
2 Public debt securities 5,726.8 5,807.5 5,943.4
3 Held by public 3,274.2 3,338.7 3,393.8
4 Held by agencies 2,452.6 2,468.8 2,549.7
5 Agency securities 27.1 27.0 26.8
6 Held by public 27.1 27.0 26.8
7 Held by agencies .0 .0 .0
8 Debt subject to statutory limit 5,645.0 5,732.6 5,871.4
9 Public debt securities 5,644.8 5,732.4 5,871.2
10 Other debt (1) .2 .2 .3
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2002
Item Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 6,032.4 6,153.3 6,255.4
2 Public debt securities 6,006.0 6,126.5 6,228.2
3 Held by public 3,443.7 3,463.5 3,552.6
4 Held by agencies 2,562.4 2,662.9 2,675.6
5 Agency securities 26.4 26.8 27.2
6 Held by public 26.4 26.8 27.2
7 Held by agencies .0 .0 .0
8 Debt subject to statutory limit 5,935.1 6,058.3 6,161.4
9 Public debt securities 5,935.0 6,058.1 6,161.1
10 Other debt (1) .2 .2 .3
MEMO
11 Statutory debt limit 5,950.0 6,400.0 6,400.0
2002 2003
Item Dec. 31 Mar. 31 June 30
1 Federal debt outstanding 6,433.0 6,487.7 6,697.1
2 Public debt securities 6,405.7 6,460.8 6,670.1
3 Held by public 3,647.4 3,710.8 3,816.3
4 Held by agencies 2,758.3 2,750.0 2,853.8
5 Agency securities 27.3 26.9 27.0
6 Held by public 27.3 26.9 27.0
7 Held by agencies .0 .0 .0
8 Debt subject to statutory limit 6,359.4 6,400.0 6,625.5
9 Public debt securities 6,359.1 6,399.8 6,625.3
10 Other debt (1) .3 .2 .2
MEMO
11 Statutory debt limit 6,400.0 6,400.0 7,384.0
(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 1999 2000 2001 2002
1 Total gross public debt 5,776.1 5,662.2 5,943.4 6,405.7
By type
2 Interest-bearing 5,766.1 5,618.1 5,930.8 6,391.4
3 Marketable 3,281.0 2,966.9 2,982.9 3,205.1
4 Bills 737.1 646.9 811.3 888.8
5 Notes 1,784.5 1,557.3 1,413.9 1,580.8
6 Bonds 643.7 626.5 602.7 588.7
7 Inflation-indexed notes
and bonds (1) 100.7 121.2 140.1 146.9
8 Nonmarketable (2) 2,485.1 2,651.2 2,947.9 3,186.3
9 State and local
government series 165.7 151.0 146.3 153.4
10 Foreign issues (3) 31.3 27.2 15.4 11.2
11 Government 31.3 27.2 15.4 11.2
12 Public .0 .0 .0 .0
13 Savings bonds and notes 179.4 176.9 181.5 184.8
14 Government account
series (4) 2,078.7 2,266.1 2,574.8 2,806.9
15 Non-interest-bearing 10.0 44.2 12.7 14.3
By holder (5)
16 U.S. Treasury and other
federal agencies and trust
funds 2,064.2 2,270.1 2,572.2 2,757.8
17 Federal Reserve Banks (6) 478.0 511.7 551.7 629.4
18 Private investors 3,233.9 2,880.4 2,819.5 3,018.5
19 Depository institutions 248.7 201.5 181.5 222.6
20 Mutual funds 228.6 220.8 257.5 279.0
21 Insurance companies 123.4 110.2 105.7 133.9
22 State and local treasuries
(7) 266.8 236.2 256.5 274.2
Individuals
23 Savings bonds 186.4 184.8 190.3 194.9
24 Pension funds 321.0 304.1 281.6 289.9
25 Private 109.8 108.4 104.2 113.6
26 State and Local 211.2 195.7 177.4 176.3
27 Foreign and international
(8) 1,268.7 1,034.2 1,053.1 1,212.7
28 Other miscellaneous
investors (7,9) 590.3 588.7 493.3 433.8
2002 2003
Type and holder Q3 Q4 Q1 Q2
1 Total gross public debt 6,228.2 6,405.7 6,460.8 6,670.1
By type
2 Interest-bearing 6,216.3 6,391.4 6,474.0 6,656.5
3 Marketable 3,136.6 3,205.1 3,331.8 3,379.0
4 Bills 868.3 888.8 955.0 927.8
5 Notes 1,521.5 1,580.8 1,622.9 1,713.7
6 Bonds 592.9 588.7 585.7 582.4
7 Inflation-indexed notes
and bonds (1) 138.9 146.9 153.2 155.0
8 Nonmarketable (2) 3,079.6 3,186.3 3,142.2 3,277.6
9 State and local
government series 144.3 153.4 148.8 140.5
10 Foreign issues (3) 12.5 11.2 12.2 11.7
11 Government 12.5 11.2 12.2 11.7
12 Public .0 .0 .0 .0
13 Savings bonds and notes 185.6 184.8 187.3 189.9
14 Government account
series (4) 2,707.3 2,806.9 2,763.8 2,905.5
15 Non-interest-bearing 12.0 14.3 13.8 13.6
By holder (5)
16 U.S. Treasury and other
federal agencies and trust
funds 2,701.3 2,757.8 2,763.3 2,853.3
17 Federal Reserve Banks (6) 604.2 629.4 641.5 652.1
18 Private investors 2,924.8 3,018.5 3,056.0 3,164.7
19 Depository institutions 210.4 222.6 153.1 144.8
20 Mutual funds 255.6 279.0 296.3 298.5
21 Insurance companies 126.8 133.9 151.2 161.7
22 State and local treasuries
(7) 269.4 274.2 306.2 318.5
Individuals
23 Savings bonds 193.3 194.9 196.9 199.1
24 Pension funds 284.9 289.9 244.2 254.5
25 Private 110.9 113.6 66.9 69.1
26 State and Local 174.1 176.3 177.2 185.4
27 Foreign and international
(8) 1,167.1 1,212.7 1,254.6 1,355.3
28 Other miscellaneous
investors (7,9) 429.9 433.8 443.4 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
last 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
2003
Item May June July
By type of security
1 U.S. Treasury bills 48,474 50,058 38,948
Treasury coupon securities
by maturity
2 Three years or less 167,853 152,654 143,806
3 More than three but less
than or equal to six years 139,291 131,546 137,381
4 More than six but less than
or equal to eleven years 117,206 106,432 131,663
5 More than eleven 36,907 31,439 31,296
6 Inflation-indexed (2) 4,303 2,949 6,157
Federal agency and
government-sponsored
enterprises
7 Discount notes 60,395 62,416 52,616 (r)
Coupon securities by
maturity
8 Three years or less 11,262 13,029 11,854 (r)
9 More than three years
but less than or equal
to six years 10,180 10,171 8,078 (r)
10 More than six years but
less than or equal to
eleven years 7,723 9,211 6,822
11 More than eleven years 1,078 1,486 1,048
12 Mortgage-backed 255,830 228,360 242,916
Corporate securities
13 One year or less 121,358 140,708 129,914
14 More than one year 23,053 21,940 20,616
By type of counterparty
With interdealer broker
15 U.S. Treasury 236,729 219,499 222,140
16 Federal agency and
government-sponsored
enterprises 10,429 11,148 8,211
17 Mortgage-backed 71,749 62,176 64,153
18 Corporate 532 581 587
With other
19 U.S. Treasury 277,305 255,580 267.111
20 Federal agency and
government-sponsored
enterprises 80,208 85,166 72,207 (r)
21 Mortgage-backed 184,080 166,185 178,763
22 Corporate 143,879 162,067 149,944
2003, week ending
Item July 2 July 9 July 16 July 23
By type of security
1 U.S. Treasury bills 55,708 45,238 34,925 29,761
Treasury coupon securities
by maturity
2 Three years or less 165,529 122,801 123,842 138,491
3 More than three but less
than or equal to six years 153,869 130,356 118,553 125,366
4 More than six but less than
or equal to eleven years 111,966 122,596 125,941 120,954
5 More than eleven 32,948 29,077 28,365 26,363
6 Inflation-indexed (2) 2,666 11,622 7,639 4,498
Federal agency and
government-sponsored
enterprises
7 Discount notes 64,852 50,295 52,219 48,328
Coupon securities by
maturity
8 Three years or less 12,786 9,687 11,484 12,064
9 More than three years
but less than or equal
to six years 11,133 5,060 5,751 12,237
10 More than six years but
less than or equal to
eleven years 5,889 5,598 8,417 6,383
11 More than eleven years 1,311 911 1,042 981
12 Mortgage-backed 216,071 327,320 271,103 202,235
Corporate securities
13 One year or less 165,464 126,939 134,641 124,979
14 More than one year 22,144 16,891 21,652 22,150
By type of counterparty
With interdealer broker
15 U.S. Treasury 230,978 208,710 201,354 204,364
16 Federal agency and
government-sponsored
enterprises 9,131 6,695 7,829 9,099
17 Mortgage-backed 61,368 77,196 66,859 61,978
18 Corporate 595 372 505 630
With other
19 U.S. Treasury 291,708 252,981 237,910 241,070
20 Federal agency and
government-sponsored
enterprises 86,838 64,846 71,084 70,895
21 Mortgage-backed 154,703 250,124 204,244 140,257
22 Corporate 187,012 143,458 155,789 146,500
2003, week ending
Item July 30 Aug. 6 Aug. 13 Aug. 20
By type of security
1 U.S. Treasury bills 40,126 40,435 34,249 34,815
Treasury coupon securities
by maturity
2 Three years or less 164,430 207,652 137,279 105,718
3 More than three but less
than or equal to six years 155,688 195,179 140,241 92,726
4 More than six but less than
or equal to eleven years 152,760 183,990 156,274 94,188
5 More than eleven 36,986 47,739 28,541 22,577
6 Inflation-indexed (2) 3,707 4,420 3,029 3,318
Federal agency and
government-sponsored
enterprises
7 Discount notes 52,289 62,536 60,422 56,696
Coupon securities by
maturity
8 Three years or less 13,121 13,116 11,799 11,489
9 More than three years
but less than or equal
to six years 7,761 6,465 5,548 3,768
10 More than six years but
less than or equal to
eleven years 6,657 8,628 6,174 3,564
11 More than eleven years 1,039 1,478 897 625
12 Mortgage-backed 199,351 239,283 311,505 167,495
Corporate securities
13 One year or less 118,830 127,184 130,215 148,655
14 More than one year 20,597 19,707 16,832 15,134
By type of counterparty
With interdealer broker
15 U.S. Treasury 251,770 302,845 227,331 162,456
16 Federal agency and
government-sponsored
enterprises 8,357 9,182 7,809 6,301
17 Mortgage-backed 55,577 57,774 75,236 51,455
18 Corporate 776 676 592 601
With other
19 U.S. Treasury 301,927 376,570 272,282 190,886
20 Federal agency and
government-sponsored
enterprises 72,511 83,039 77,031 64,841
21 Mortgage-backed 143,774 181,508 236,269 116,041
22 Corporate 138,652 146,214 146,455 163,188
2003, week
ending
Item Aug. 27
By type of security
1 U.S. Treasury bills 44,759
Treasury coupon securities
by maturity
2 Three years or less 130,553
3 More than three but less
than or equal to six years 114,815
4 More than six but less than
or equal to eleven years 93,774
5 More than eleven 20,017
6 Inflation-indexed (2) 2,843
Federal agency and
government-sponsored
enterprises
7 Discount notes 47,979
Coupon securities by
maturity
8 Three years or less 11,299
9 More than three years
but less than or equal
to six years 3,642
10 More than six years but
less than or equal to
eleven years 4,190
11 More than eleven years 469
12 Mortgage-backed 104,888
Corporate securities
13 One year or less 129,006
14 More than one year 14,020
By type of counterparty
With interdealer broker
15 U.S. Treasury 186,503
16 Federal agency and
government-sponsored
enterprises 5,980
17 Mortgage-backed 27,525
18 Corporate 466
With other
19 U.S. Treasury 220,258
20 Federal agency and
government-sponsored
enterprises 61,598
21 Mortgage-backed 77,363
22 Corporate 142,561
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.) 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 corporate securities scheduled for immediate and
forward delivery, is 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 purchase 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 of principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2003
Item, by type of security May June July
Net outright positions (2)
1 U.S. Treasury bills 10,092 9,882 10,596
Treasury coupon securities
by maturity
2 Three years or less -12,954 -11,958 -18,548
3 More than three years but
less than or equal to
six years -42,497 -45,702 -54,366
4 More than six but less
than or equal to eleven
years -8,149 -11,295 -18,655
5 More than eleven 3,180 680 4,869
6 Inflation-indexed -127 854 911
Federal agency and
government-sponsored
enterprises
7 Discount notes 62,728 61,088 59,856
Coupon securities, by
maturity
8 Three years or less 20,165 17,246 15,782
9 More than three years
but less than or
equal to six years 4,807 2,400 4,399
10 More than six but less
than or equal to
eleven years 3,875 4,057 5,336
11 More than eleven 2,366 2,748 2,204
12 Mortgage-backed 42,381 55,930 57,244
Corporate securities
13 One year or less 25,518 33,054 32,644 (r)
14 More than one year 58,309 58,821 65,577 (r)
Financing (3)
Securities in, U.S.
Treasury
15 Overnight and continuing 694,287 739,231 726,387
16 Term 881,597 944,185 937,832
Federal agency and
government-sponsored
enterprises
17 Overnight and continuing 152,445 151,751 147,727
18 Term 243,263 254,853 245,668
Mortgage-backed securities
19 Overnight and continuing 42,935 36,223 37,704
20 Term 247,674 249,278 253,576
Corporate securities
21 Overnight and continuing 68,094 71,329 76,154
22 Term 27,031 28,474 30,092
MEMO
Reverse repurchase
agreements
23 Overnight and continuing 482,620 510,880 472,181
24 Term 1,220,752 1,297,890 1,288,014
Securities out, U.S.
Treasury
25 Overnight and continuing 674,535 711,222 686,520
26 Term 801,453 849,957 832,743
Federal agency and
government-sponsored
enterprises
27 Overnight and continuing 297,432 295,952 286,946
28 Term 186,301 195,981 190,018
Mortgage-backed securities
29 Overnight and continuing 357,464 356,571 372,739
30 Term 147,596 141,975 160,896
Corporate securities
31 Overnight and continuing 146,125 156,474 159,712
32 Term 25,505 26,437 27,191
MEMO
Repurchase agreements
33 Overnight and continuing 1,262,057 1,305,120 1,276,928
34 Term 1,106,335 1,163,284 1,164,237
2003, week ending
Item, by type of security July 2 July 9 July 16
Net outright positions (2)
1 U.S. Treasury bills -721 7,986 6,445
Treasury coupon securities
by maturity
2 Three years or less -12,044 -20,746 -26,386
3 More than three years but
less than or equal to
six years -52,478 -50,779 -53,573
4 More than six but less
than or equal to eleven
years -21,939 -18,959 -18,430
5 More than eleven 2,551 4,440 4,797
6 Inflation-indexed 848 1,524 1,134
Federal agency and
government-sponsored
enterprises
7 Discount notes 64,831 67,610 66,300
Coupon securities, by
maturity
8 Three years or less 17,688 17,293 17,562
9 More than three years
but less than or
equal to six years 2,104 3,842 4,364
10 More than six but less
than or equal to
eleven years 4,516 4,648 7,256
11 More than eleven 2,898 2,454 2,340
12 Mortgage-backed 65,442 61,991 62,210
Corporate securities
13 One year or less 32,457 22,859 36,888
14 More than one year 56,260 52,296 55,365
Financing (3)
Securities in, U.S.
Treasury
15 Overnight and continuing 745,495 734,326 734,833
16 Term 831,069 871,586 922,611
Federal agency and
government-sponsored
enterprises
17 Overnight and continuing 144,996 152,938 151,908
18 Term 239,480 244,501 248,488
Mortgage-backed securities
19 Overnight and continuing 31,989 41,047 35,677
20 Term 247,109 250,192 247,779
Corporate securities
21 Overnight and continuing 73,975 75,059 76,486
22 Term 29,879 30,474 30,264
MEMO
Reverse repurchase
agreements
23 Overnight and continuing 482,902 483,051 476,612
24 Term 1,177,830 1,226,445 1,271,003
Securities out, U.S.
Treasury
25 Overnight and continuing 690,942 688,981 695,254
26 Term 739,089 771,753 813,745
Federal agency and
government-sponsored
enterprises
27 Overnight and continuing 287,582 298,345 289,818
28 Term 185,252 192,686 195,836
Mortgage-backed securities
29 Overnight and continuing 352,456 348,669 390,005
30 Term 138,058 146,109 158,812
Corporate securities
31 Overnight and continuing 163,253 154,736 163,731
32 Term 23,959 25,444 27,989
MEMO
Repurchase agreements
33 Overnight and continuing 1,264,178 1,261,107 1,318,921
34 Term 1,045,353 1,090,292 1,149,272
2003, week ending
Item, by type of security July 23 July 30 Aug. 6
Net outright positions (2)
1 U.S. Treasury bills 17,917 11,936 19,935
Treasury coupon securities
by maturity
2 Three years or less -13,692 -17,454 -2,969
3 More than three years but
less than or equal to
six years -58,291 -56,769 -44,503
4 More than six but less
than or equal to eleven
years -18,715 -17,893 -16,455
5 More than eleven 4,738 6,455 2,835
6 Inflation-indexed -93 1,085 988
Federal agency and
government-sponsored
enterprises
7 Discount notes 57,106 49,592 41,628
Coupon securities, by
maturity
8 Three years or less 13,110 15,413 10,228
9 More than three years
but less than or
equal to six years 4,727 5,704 1,714
10 More than six but less
than or equal to
eleven years 5,834 4,137 3,262
11 More than eleven 2,143 1,771 1,569
12 Mortgage-backed 61,753 45,610 22,725
Corporate securities
13 One year or less 38,722 32,083 33,190
14 More than one year 75,715 79,440 80,653
Financing (3)
Securities in, U.S.
Treasury
15 Overnight and continuing 711,835 714,798 756,459
16 Term 978,365 997,897 1,017,424
Federal agency and
government-sponsored
enterprises
17 Overnight and continuing 145,151 140,723 154,493
18 Term 248,088 244,102 240,508
Mortgage-backed securities
19 Overnight and continuing 38,519 37,599 34,959
20 Term 261,280 256,505 256,354
Corporate securities
21 Overnight and continuing 76,948 76,580 77,312
22 Term 29,930 29,804 29,791
MEMO
Reverse repurchase
agreements
23 Overnight and continuing 457,947 465,221 491,999
24 Term 1,332,263 1,343,545 1,359,981
Securities out, U.S.
Treasury
25 Overnight and continuing 673,657 683,907 707,630
26 Term 868,056 889,446 935,844
Federal agency and
government-sponsored
enterprises
27 Overnight and continuing 283,984 277,779 270,689
28 Term 188,841 184,957 183,815
Mortgage-backed securities
29 Overnight and continuing 391,859 368,093 359,630
30 Term 173,779 171,387 161,045
Corporate securities
31 Overnight and continuing 158,566 160,971 158,525
32 Term 28,007 27,500 32,432
MEMO
Repurchase agreements
33 Overnight and continuing 1,275,855 1,257,702 1,261,321
34 Term 1,210,387 1,226,689 1,264,172
2003, week ending
Item, by type of security Aug. 13 Aug. 20
Net outright positions (2)
1 U.S. Treasury bills 21,752 21,314
Treasury coupon securities
by maturity
2 Three years or less -9,011 -12,258
3 More than three years but
less than or equal to
six years -39,039 -42,893
4 More than six but less
than or equal to eleven
years -13,698 -10,152
5 More than eleven 1,742 3,593
6 Inflation-indexed 622 -30
Federal agency and
government-sponsored
enterprises
7 Discount notes 53,754 42,795
Coupon securities, by
maturity
8 Three years or less 12,736 14,789
9 More than three years
but less than or
equal to six years 806 588
10 More than six but less
than or equal to
eleven years 3,304 2,470
11 More than eleven 1,635 1,545
12 Mortgage-backed 19,517 19,391
Corporate securities
13 One year or less 40,351 29,484
14 More than one year 81,434 80,703
Financing (3)
Securities in, U.S.
Treasury
15 Overnight and continuing 688,920 724,763
16 Term 1,021,876 849,260
Federal agency and
government-sponsored
enterprises
17 Overnight and continuing 162,483 158,073
18 Term 244,190 230,255
Mortgage-backed securities
19 Overnight and continuing 41,193 44,250
20 Term 250,742 242,453
Corporate securities
21 Overnight and continuing 76,186 75,442
22 Term 29,847 30,339
MEMO
Reverse repurchase
agreements
23 Overnight and continuing 448,293 471,250
24 Term 1,364,600 1,179,112
Securities out, U.S.
Treasury
25 Overnight and continuing 647,169 685,678
26 Term 939,314 762,225
Federal agency and
government-sponsored
enterprises
27 Overnight and continuing 285,503 273,716
28 Term 190,915 178,610
Mortgage-backed securities
29 Overnight and continuing 382,491 360,126
30 Term 171,184 175,097
Corporate securities
31 Overnight and continuing 163,204 152,417
32 Term 31,792 31,862
MEMO
Repurchase agreements
33 Overnight and continuing 1,248,439 1,237,390
34 Term 1,282,554 1,104,971
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.) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the US 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, governtnent-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-ponsored 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).
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1999 2000 2001
1 Federal and federally
sponsored agencies 1,616,492 1,851,632 2,121,057
2 Federal agencies 26,376 25,666 276
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 126 255 26,828
6 Government National
Mortgage Association
certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley
Authority 26,370 25,660 270
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies 1,590,116 1,825,966 2,120,781
11 Federal Home Loan Banks 529,005 594,404 623,740
12 Federal Home Loan
Mortgage Corporation 160,711 426,899 565,071
13 Federal National Mortgage
Association 547,619 642,700 763,500
14 Farm Credit Banks (8) 68,883 74,181 76,673
15 Student Loan Marketing
Association (9) 41,988 45,375 48,350
16 Financing Corporation
(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt
(13) 42,152 40,575 39,096
Lending to federal and
federally sponsored
agencies
20 Export board Bank (3) n.a n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 6,665 5,275 n.a.
26 Rural Electrification
Administration 14,085 13,126 13,876
27 Other 21,402 22,174 25,220
2003
Agency 2002 Feb. Mar.
1 Federal and federally
sponsored agencies 2,351,039 n.a. n.a
2 Federal agencies 2 26,408 26,886
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 26,828 152 166
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 270 26,402 26,880
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies 2,351,037 n.a. n.a.
11 Federal Home Loan Banks 674,841 684,495 687,573
12 Federal Home Loan
Mortgage Corporation 648,894 n.a. n.a.
13 Federal National Mortgage
Association 851,000 871,000 873,900
14 Farm Credit Banks (8) 85,088 86,045 86,802
15 Student Loan Marketing
Association (9) 47,900 50,900 49,100
16 Financing Corporation
(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt
(13) 37,017 35,794 35,780
Lending to federal and
federally sponsored
agencies
20 Export board 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 n.a. n.a. n.a
26 Rural Electrification
Administration 14,489 14,750 14,750
27 Other 22,528 21,044 21,030
2003
Agency Apr. May June
1 Federal and federally
sponsored agencies n.a. n.a. n.a.
2 Federal agencies 26,450 26,500 27,015
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 195 218 227
6 Government National
Mortgage Association
certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley
Authority 26,444 26,494 27,009
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies n.a. n.a. n.a
11 Federal Home Loan Banks 706,215 717,900 712,447
12 Federal Home Loan
Mortgage Corporation n.a. n.a. n.a.
13 Federal National Mortgage
Association 871,500 876,200 884,100
14 Farm Credit Banks (8) 87,591 89,007 89,130
15 Student Loan Marketing
Association (9) 51,200 54,200 52,700
16 Financing Corporation
(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt
(13) 35,808 36,383 36,361
Lending to federal and
federally sponsored
agencies
20 Export board 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 n.a. n.a. n.a.
26 Rural Electrification
Administration 14,760 14,793 15,383
27 Other 21,048 21,590 20,978
(1.) Consists of mortgage, 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.
1.45 NEW SECURITY ISSUES State and Local Governments
Millions of dollars
Type of issue or issuer,
or use 2000 2001 2002
1 All issues, new and
refunding (1) 180,403 292,027 364,073 (r)
By type of issue
2 General obligation 64,475 118,554 145,323
3 Revenue 115,928 170,047 214,788
By type of issuer
4 State 19,944 34,099 33,931
5 Special district or
statutory authority (2) 121,185 197,462 259,070
6 Municipality, county, or
township 39,273 61,040 67,121
7 Issues for new capital 154,257 200,363 243,212 (r)
By use of proceeds
8 Education 38,665 50,054 57,894
9 Transportation 19,730 21,411 22,093
10 Utilities and conservation 11,917 21,917 33,404
11 Social welfare n.a. n. a. n.a.
12 Industrial aid 7,122 6,607 7,227
13 Other purposes 47,309 55,733 73,033
2003
Type of issue or issuer,
or use Jan. Feb. (r) Mar. (r)
1 All issues, new and
refunding (1) 27,138 30,171 28,096
By type of issue
2 General obligation 8,112 12,772 9,794
3 Revenue 17,049 17,399 18,303
By type of issuer
4 State 1,927 3,604 1,277
5 Special district or
statutory authority (2) 17,979 20,893 19,777
6 Municipality, county, or
township 5,290 5,674 7,043
7 Issues for new capital 18,809 (r) 20,339 15,944
By use of proceeds
8 Education 4,823 7,067 5,354
9 Transportation 1,417 1,625 1,233
10 Utilities and conservation 2,196 183 599
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 422 1,118 1,602
13 Other purposes 7,400 7,189 3,724
2003
Type of issue or issuer,
or use Apr. (r) May (r) June (r)
1 All issues, new and
refunding (1) 34,911 36,029 48,346
By type of issue
2 General obligation 14,815 13,073 23,789
3 Revenue 20,095 22,956 24,557
By type of issuer
4 State 5,521 2,808 14,411
5 Special district or
statutory authority (2) 23,911 22,879 26,458
6 Municipality, county, or
township 5,478 10,342 7,477
7 Issues for new capital 24,708 21,243 36,037
By use of proceeds
8 Education 7,591 7,128 6,111
9 Transportation 3,479 1,891 2,049
10 Utilities and conservation 842 1,018 2,021
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 1,828 3,209 1,787
13 Other purposes 8,396 5,603 19,880
2003
Type of issue or issuer, July (r) Aug.
or use
1 All issues, new and 33,146 25,711
refunding (1)
By type of issue 12,595 7,142
2 General obligation 20,551 18,569
3 Revenue
By type of issuer 2,924 2,185
4 State
5 Special district or 22,008 17,074
statutory authority (2)
6 Municipality, county, or 8,215 6,452
township
22,142 18,421
7 Issues for new capital
By use of proceeds 4,967 6,696
8 Education 2,637 3,089
9 Transportation 361 746
10 Utilities and conservation n.a. n.a.
11 Social welfare 2,462 1,776
12 Industrial aid 6,864 3,718
13 Other purposes
(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 2000 2001 2002
1 All issues (1) 1,079,727 1,541,821 1,429,298
2 Bonds (2) 944,810 1,413,267 1,318,863
By type of offering
3 Sold in the United
States 822,012 1,356,879 1,232,618
4 Sold abroad 122,798 56,389 86,246
MEMO
5 Private placements,
domestic 19,442 (r) 24,415 (r) 18,870 (r)
By industry group
6 Nonfinancial 258,804 459,560 282,484
7 Financial 686,006 953,707 1,036,379
8 Stocks (3) 311,941 230,632 170,673
By type of offering
9 Public 134,917 128,554 110,435
10 Private placement (4) 177,024 102,078 60,238
By industry group
11 Nonfinancial 118,369 77,577 62,115
12 Financial 16,548 50,977 48,320
2002 2003
Type of issue, offering,
or issuer Dec. Jan. Feb.
1 All issues (1) 127,061 127,304 134,957
2 Bonds (2) 120,183 120,177 127,818
By type of offering
3 Sold in the United
States 114,332 113,951 118,567
4 Sold abroad 5,851 6,226 9,250
MEMO
5 Private placements,
domestic 2,064 (r) 4,553 (r) 1,087 (r)
By industry group
6 Nonfinancial 20,751 28,461 26,991
7 Financial 99,433 91,716 100,826
8 Stocks (3) 6,878 7,127 7,139
By type of offering
9 Public 6,878 7,127 7,139
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,154 3,793 2,679
12 Financial 2,724 3,334 4,460
2003
Type of issue, offering,
or issuer Mar. Apr. May
1 All issues (1) 155,821 125,223 170,003
2 Bonds (2) 149,928 116,861 161,265
By type of offering
3 Sold in the United
States 144,315 114,277 149,437
4 Sold abroad 5,613 2,585 11,828
MEMO
5 Private placements,
domestic 1,760 (r) 1,189 (r) 1,804 (r)
By industry group
6 Nonfinancial 27,514 22,153 48,353
7 Financial 122,414 94,708 112,912
8 Stocks (3) 5,893 8,162 8,738
By type of offering
9 Public 5,893 8,362 8,738
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 1,053 1,592 3,075
12 Financial 4,840 6,770 5,663
2003
Type of issue, offering,
or issuer June July
1 All issues (1) 179,615 124,114
2 Bonds (2) 163,726 116,806
By type of offering
3 Sold in the United
States 147,835 104,875
4 Sold abroad 15,890 11,931
MEMO
5 Private placements,
domestic 4,140 (r) n.a.
By industry group
6 Nonfinancial 52,139 28,425
7 Financial 111,587 88,381
8 Stocks (3) 15,889 9,308
By type of offering
9 Public 15,889 9,308
10 Private placement (4) n.a. n.a.
By industry group
11 Nonfinancial 4,727 3,333
12 Financial 11,162 5,975
(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, Yankee bonds, and private
placements listed. 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 for private placements are not available at a monthly
frequency.
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
2003
Item 2001 2002 (r) Jan.
1 Sales of own shares (2) 1,806,474 1,825,840 152,647
2 Redemptions of own shares 1,677,266 1,702,676 138,951
3 Net sales (3) 129,208 123,164 13,696
4 Assets (4) 4,689,624 4,119,322 4,060,568
5 Cash (5) 219,620 208,479 212,792
6 Other 4,470,004 3,910,843 3,847,776
2003
Item Feb. Mar. Apr.
1 Sales of own shares (2) 122,321 140,643 141,465
2 Redemptions of own shares 113,643 129,337 112,109
3 Net sales (3) 8,678 11,306 29,356
4 Assets (4) 4,031,818 4,059,934 4,327,560
5 Cash (5) 199,546 214,146 230,032
6 Other 3,832,272 3,845,788 4,097,528
2003
Item May June July (r)
1 Sales of own shares (2) 142,688 157,773 153,832
2 Redemptions of own shares 118,794 130,024 139,690
3 Net sales (3) 23,894 27,749 14,142
4 Assets (4) 4,563,023 4,653,085 4,714,516
5 Cash (5) 232,836 236,547 220,372
6 Other 4,330,187 4,416,538 4,494,144
2003
Item Aug.
1 Sales of own shares (2) 138,802
2 Redemptions of own shares 125,177
3 Net sales (3) 13,625
4 Assets (4) 4,828,207
5 Cash (5) 227,507
6 Other 4,600,700
(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.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
2001
Account 2000 2001 2002 Q4
ASSETS
1 Accounts receivable, gross
(2) 958.7 948.3 945.4 948.3
2 Consumer 328.0 340.1 315.6 340.1
3 Business 458.4 447.0 455.3 447.0
4 Real estate 172.3 161.3 174.5 161.3
5 Less: Reserves for unearned
income 69.7 60.6 57.0 60.6
6 Reserves for losses 16.7 21.0 23.8 21.0
7 Accounts receivable, net 872.3 866.7 864.5 866.7
8 All other 461.5 523.4 584.7 523.4
9 Total assets 1,333.7 1,390.1 1,449.3 1,390.1
LIABILITIES AND CAPITAL
10 Bank loans 35.9 50.8 48.0 50.8
11 Commercial paper 238.8 158.6 141.5 158.6
Debt
12 Owed to parent 102.5 99.2 88.2 99.2
13 Not elsewhere classified 502.2 567.4 624.9 567.4
14 All other liabilities 301.8 325.5 339.0 325.5
15 Capital, surplus, and
undivided profits 152.5 188.6 207.6 188.6
16 Total liabilities and
capital 1,333.7 1,390.1 1,449.3 1,390.1
2002
Account Q1 Q2 Q3 Q4
ASSETS
1 Accounts receivable, gross
(2) 930.0 941.9 945.6 945.4
2 Consumer 329.8 332.0 334.5 315.6
3 Business 443.0 449.4 445.5 455.3
4 Real estate 157.2 160.5 165.5 174.5
5 Less: Reserves for unearned
income 59.5 58.5 58.0 57.0
6 Reserves for losses 21.5 21.6 22.0 23.8
7 Accounts receivable, net 849.0 861.9 865.6 864.5
8 All other 515.2 530.6 558.0 584.7
9 Total assets 1,364.2 1,392.5 1,423.6 1,449.3
LIABILITIES AND CAPITAL
10 Bank loans 49.4 56.9 74.9 48.0
11 Commercial paper 137.0 110.8 143.1 141.5
Debt
12 Owed to parent 82.6 83.3 82.9 88.2
13 Not elsewhere classified 574.4 597.2 584.9 624.9
14 All other liabilities 329.1 331.5 343.4 339.0
15 Capital, surplus, and
undivided profits 191.7 192.9 194.5 207.6
16 Total liabilities and
capital 1,364.2 1,392.5 1,423.6 1,449.3
2003
Account Q1 Q2
ASSETS
1 Accounts receivable, gross
(2) 934.9 947.9
2 Consumer 307.1 308.6
3 Business 453.9 455.8
4 Real estate 173.9 183.4
5 Less: Reserves for unearned
income 54.2 53.8
6 Reserves for losses 24.0 24.5
7 Accounts receivable, net 856.7 869.6
8 All other 610.9 655.9
9 Total assets 1,467.7 1,525.5
LIABILITIES AND CAPITAL
10 Bank loans 47.3 53.2
11 Commercial paper 127.3 145.3
Debt
12 Owed to parent 87.7 96.6
13 Not elsewhere classified 639.1 657.9
14 All other liabilities 344.4 359.1
15 Capital, surplus, and
undivided profits 221.9 213.5
16 Total liabilities and
capital 1,467.7 1,525.5
(1.) Includes finance company subsidiaries of bank holding companies
but not of retailers and banks. Data are amounts carried on the balance
sheets of finance companies; securitized pools are not shown, as they
are not on the books.
(2.) Before deduction for unearned income and losses. Excludes pools of
securitized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amounts outstanding
Type of credit 2000 2001 2002
Seasonally adjusted
1 Total 1,186.3 (r) 1,248.1 (r) 1,275.9 (r)
2 Consumer 465.0 (r) 514.8 (r) 518.6 (r)
3 Real estate 198.9 207.7 216.5
4 Business 522.3 525.6 540.9
Not seasonally adjusted
5 Total 1,192.8 (r) 1,255.3 (r) 1,283.4 (r)
6 Consumer 469.0 (r) 519.7 (r) 523.9 (r)
7 Motor vehicle loans 141.6 173.9 160.2
8 Motor vehicle leases 108.2 103.5 83.3
9 Revolving (2) 37.6 31.5 38.9
10 Other (3) 41.3 (r) 32.7 (r) 38.7 (r)
Securitized assets (4)
11 Motor vehicle loans 97.1 131.9 151.9 (r)
12 Motor vehicle leases 6.6 (r) 6.8 5.7 (r)
13 Revolving 19.6 25.0 31.1 (r)
14 Other 17.1 14.3 14.0 (r)
15 Real estate 198.9 207.7 216.5
16 One- to four-family 130.6 120.1 135.0
17 Other 41.7 41.2 39.5
Securitized real
estate assets (4)
18 One- to four-family 24.7 (r) 40.7 39.7 (r)
19 Other 1.9 (r) 5.7 2.2
20 Business 525.0 527.9 543.0
21 Motor vehicles 75.5 54.0 60.7
22 Retail loans 18.3 16.1 15.4
23 Wholesale loans (5) 39.7 20.3 29.3
24 Leases 17.6 17.6 16.0
25 Equipment 283.5 289.4 292.1
26 Loans 70.2 77.8 83.3
27 Leases 213.3 211.6 208.8
28 Other business
receivables (6) 99.4 103.5 102.5
Securitized assets (4)
29 Motor vehicles 37.8 50.1 50.2
30 Retail loans 3.2 (r) 5.1 2.4 (r)
31 Wholesale loans 32.5 (r) 42.5 45.9 (r)
32 Leases 2.2 (r) 2.5 1.9 (r)
33 Equipment 23.1 23.2 20.2
34 Loans 15.5 (r) 16.4 13.0 (r)
35 Leases 7.6 (r) 6.8 7.2
36 Other business
receivables (6) 5.6 (r) 7.7 17.4 (r)
2003
Type of credit Feb. (r) Mar. (r) Apr. (r)
Seasonally adjusted
1 Total 1,275.7 1,283.1 1,290.3
2 Consumer 518.3 521.7 525.3
3 Real estate 215.6 215.4 220.4
4 Business 541.8 546.0 544.6
Not seasonally adjusted
5 Total 1,276.0 1,286.3 1,293.4
6 Consumer 518.6 518.2 521.7
7 Motor vehicle loans 162.4 156.2 160.9
8 Motor vehicle leases 80.3 81.8 81.2
9 Revolving (2) 37.9 36.3 37.6
10 Other (3) 39.8 40.9 42.4
Securitized assets (4)
11 Motor vehicle loans 148.6 152.1 149.4
12 Motor vehicle leases 5.6 6.2 6.1
13 Revolving 30.1 30.7 30.6
14 Other 13.8 119.0 13.6
15 Real estate 215.6 215.4 220.4
16 One- to four-family 134.3 133.9 138.8
17 Other 39.9 40.1 40.4
Securitized real
estate assets (4)
18 One- to four-family 39.1 39.2 38.9
19 Other 2.2 2.2 2.2
20 Business 541.9 552.8 551.4
21 Motor vehicles 60.3 65.3 64.1
22 Retail loans 14.8 16.3 16.8
23 Wholesale loans (5) 30.5 34.0 34.5
24 Leases 15.0 15.0 12.8
25 Equipment 288.9 287.5 286.0
26 Loans 80.3 78.0 79.0
27 Leases 208.6 209.5 207.0
28 Other business
receivables (6) 104.4 101.1 103.0
Securitized assets (4)
29 Motor vehicles 50.9 53.1 53.1
30 Retail loans 2.3 2.2 2.2
31 Wholesale loans 46.8 48.6 48.6
32 Leases 1.9 2.2 2.2
33 Equipment 19.4 21.9 21.4
34 Loans 12.3 12.2 11.8
35 Leases 7.1 9.7 9.6
36 Other business
receivables (6) 18.0 23.9 23.9
2003
Type of credit May June (r) July
Seasonally adjusted
1 Total 1,297.1 (r) 1,286.0 1,291.5
2 Consumer 523.6 516.8 516.2
3 Real estate 224.6 224.1 231.9
4 Business 548.9 545.1 543.5
Not seasonally adjusted
5 Total 1,297.4 1,293.1 1,288.0
6 Consumer 519.1 516.2 516.2
7 Motor vehicle loans 162.8 166.6 172.7
8 Motor vehicle leases 79.0 76.7 74.8
9 Revolving (2) 34.5 34.6 35.0
10 Other (3) 42.5 43.1 42.0
Securitized assets (4)
11 Motor vehicle loans 150.3 146.5 143.6
12 Motor vehicle leases 6.0 6.0 5.9
13 Revolving 30.7 29.5 29.2
14 Other 13.2 13.2 12.9
15 Real estate 224.6 224.1 231.9
16 One- to four-family 143.0 142.5 150.7
17 Other 40.7 40.9 40.8
Securitized real
estate assets (4)
18 One- to four-family 38.6 38.4 38.1
19 Other 2.2 2.2 2.2
20 Business 553.7 552.9 539.9
21 Motor vehicles 68.0 69.9 61.9
22 Retail loans 17.1 17.2 17.7
23 Wholesale loans (5) 36.1 38.4 30.0
24 Leases 14.8 14.2 14.2
25 Equipment 284.5 283.4 281.0
26 Loans 77.6 77.5 76.3
27 Leases 207.0 205.9 204.7
28 Other business
receivables (6) 103.1 102.6 102.9
Securitized assets (4)
29 Motor vehicles 52.2 50.0 46.7
30 Retail loans 2.2 2.2 2.2
31 Wholesale loans 47.8 45.6 42.3
32 Leases 2.2 2.1 2.1
33 Equipment 21.6 23.5 23.7
34 Loans 12.0 12.9 13.1
35 Leases 9.6 10.6 10.6
36 Other business
receivables (6) 24.2 23.6 23.8
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to the
June 1996 Survey of Finance Companies. In that benchmark survey, and in
the monthly surveys that have followed, more detailed breakdowns have
been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table.
The new information has resulted in some reclassification of
receivables among the three major categories (consumer, real estate,
and business) and in discontinuities in some component series between
May and June 1996.
Includes finance company subsidiaries of bank holding companies but not
of retailers and banks. Data in this table also appear in the Board's
G.20 (422) monthly statistical release. For ordering address, see
inside front cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools upon
which securities have been issued: these balances are no longer carried
on the balance sheets of the loan originator. Data are shown before
deductions for unearned income and losses. Components may not sum to
totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans to
purchase other types of consumer goods, such as appliances, apparel,
boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued: these balances are no longer carried on the balance sheets of
the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans used
primarily for business or farm purposes; and wholesale and lease paper
for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
2003
Item 2000 2001 2002 Feb.
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 234.5 245.0 261.1 235.1
2 Amount of loan (thousands of
dollars) 177.0 184.2 197.0 179.3
3 Loan-to-price ratio
(percent) 77.4 77.3 77.8 78.0
4 Maturity (years) 29.2 28.8 28.9 28.3
5 Fees and charges (percent of
loan amount) (2) .70 .67 .62 .37
Yield (percent per year)
6 Contract rate (1) 7.41 6.90 6.35 5.76
7 Effective rate (1,3) 7.52 7.00 6.44 5.82
8 Contract rate (HUD series)
(4) n.a. n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)
(5) n.a. n.a. n.a. n.a.
10 GNMA securities (6) 7.57 6.36 5.81 5.03
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 610,122 707,015 790,800 816,747
12 FHA/VA insured 61,539 n.a. n.a. n.a.
13 Conventional 548,583 n.a. n.a. n.a.
14 Mortgage transactions
purchased (during period) 154,231 270,384 370,641 40,420
Mortgage commitments (during
period)
15 Issued (7) 163,689 304,084 400,327 52,479
16 To sell (8) 11,786 7,586 12,268 1,241
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 385,693 491,719 568,173 561,534
18 FHA/VA insured 3,332 3,506 4,573 3,796
19 Conventional 382,361 488,213 563,600 557,738
Mortgage transactions
(during period)
20 Purchases 174,043 n.a. n.a. n.a.
21 Sales 166,901 389,611 547,046 41,831
22 Mortgage commitments
contracted (during period)
(9) 169,231 417,434 620,981 48,446
2003
Item Mar. Apr. May June
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 252.9 266.0 275.3 283.3
2 Amount of loan (thousands of
dollars) 184.2 205.0 210.7 213.7
3 Loan-to-price ratio
(percent) 76.2 78.8 78.7 78.0
4 Maturity (years) 28.2 29.0 28.8 28.8
5 Fees and charges (percent of
loan amount) (2) .40 .62 .61 .64
Yield (percent per year)
6 Contract rate (1) 5.69 5.83 5.66 5.42
7 Effective rate (1,3) 5.75 5.92 5.75 5.51
8 Contract rate (HUD series)
(4) n.a. n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)
(5) n.a. n.a. n.a. n.a.
10 GNMA securities (6) 4.94 4.97 4.55 4.27
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 815,964 817,894 815,560 812,467
12 FHA/VA insured n.a. n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a. n.a.
14 Mortgage transactions
purchased (during period) 34,304 43,028 43,749 41,182
Mortgage commitments (during
period)
15 Issued (7) 42,005 42,906 75,569 79,172
16 To sell (8) 2,457 1,479 1,785 3,657
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 569,522 568,975 572,801 586,361
18 FHA/VA insured 3,540 n.a. n.a. n.a.
19 Conventional 565,982 n.a. n.a n.a.
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a. n.a.
21 Sales 59,065 51,737 66,175 58,124
22 Mortgage commitments
contracted (during period)
(9) 69,200 n.a. n.a. n.a.
2003
Item July Aug.
Terms and yields in
primary and secondary
markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 283.4 280.1
2 Amount of loan (thousands of
dollars) 214.4 212.1
3 Loan-to-price ratio
(percent) 78.2 78.0
4 Maturity (years) 28.7 28.5
5 Fees and charges (percent of
loan amount) (2) .62 .66
Yield (percent per year)
6 Contract rate (1) 5.44 5.68
7 Effective rate (1,3) 5.53 5.77
8 Contract rate (HUD series)
(4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)
(5) n.a. n.a.
10 GNMA securities (6) 5.02 5.48
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 836,104 863,170
12 FHA/VA insured n.a. n.a.
13 Conventional n.a. n.a.
14 Mortgage transactions
purchased (during period) 72,447 82,656
Mortgage commitments (during
period)
15 Issued (7) n.a. n.a.
16 To sell (8) n.a. n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 595,202 615,986
18 FHA/VA insured n.a. n.a.
19 Conventional n.a. n.a.
Mortgage transactions
(during period)
20 Purchases n.a. n.a.
21 Sales 70,269 91,198
22 Mortgage commitments
contracted (during period)
(9) n.a. n.a.
(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.) Dues not include standby commitments issued, but includes standby
commitments converted.
(8.) Includes participation loans as well as whole loans.
(9.) Includes conventional and government-underwritten loans. The
Federal Home Loan Mortgage Corporation's mortgage commitments and
mortgage transactions include activity under mortgage securities swap
programs, whereas the corresponding data for the Federal National
Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
Type of holder and property 1999 2000 2001
1 All holders 6,315,447 6,884,942 7,585,319
By type of property
2 One- to four-family
residences 4,787,225 5,205,428 5,738,111
3 Multifamily residences 368,742 403,724 449,704
4 Nonfarm, nonresidential 1,056,516 1,166,933 1,281,168
5 Farm 102,964 108,858 116,336
By type of holder
6 Major financial
institutions 2,394,271 2,618,969 2,791,076
7 Commercial banks (2) 1,495,420 1,660,054 1,789,819
8 One- to four-family 879,576 965,635 1,023,851
9 Multifamily 67,665 77,803 84,851
10 Nonfarm, nonresidential 516,333 582,577 645,619
11 Farm 31,846 34,039 35,498
12 Savings institutions (3) 668,064 722,974 758,236
13 One- to four-family 548,222 594,221 620,579
14 Multifamily 59,309 61,258 64,592
15 Nonfarm, nonresidential 60,063 66,965 72,534
16 Farm 470 529 531
17 Life insurance companies 230,787 235,941 243,021
18 One- to four-family 5,934 4,903 4,931
19 Multifamily 32,818 33,681 35,631
20 Nonfarm, nonresidential 179,048 183,757 188,376
21 Farm 12,987 13,600 14,083
22 Federal and related
agencies 320,054 344,225 376,999
23 Government National
Mortgage Association 7 6 8
24 One- to four-family 7 6 8
25 Multifamily 0 0 0
26 Farmers Home
Administration (4) 73,871 73,323 72,452
27 One- to four-family 16,506 16,372 15,824
28 Multifamily 11,741 11,733 11,712
29 Nonfarm, nonresidential 41,355 41,070 40,965
30 Farm 4,268 4,148 3,952
31 Federal Housing Admin.
and Dept. of Veterans
Affairs 3,712 3,507 3,290
32 One- to four-family 1,851 1,308 1,260
33 Multifamily 1,861 2,199 2,031
34 Resolution Trust
Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 152 45 13
40 One- to four-family 25 7 2
41 Multifamily 29 9 3
42 Nonfarm, nonresidential 98 29 8
43 Farm 0 0 0
44 Federal National Mortgage
Association 149,422 155,626 169,908
45 One- to four-family 141,195 144,150 155,060
46 Multifamily 8,227 11,476 14,848
47 Federal Land Banks 34,187 36,326 40,885
48 One- to four-family 2,012 2,137 2,406
49 Farm 32,175 34,189 38,479
50 Federal Home Loan
Mortgage Corporation 56,676 59,240 62,792
51 One- to four-family 44,321 42,871 40,309
52 Multifamily 12,355 16,369 22,483
53 Mortgage pools or
trusts (5) 2,946,546 3,226,058 3,700,582
54 Government National
Mortgage Association 582,263 611,553 591,368
55 One- to four-family 565,189 592,624 569,460
56 Multifamily 17,074 18,929 21,908
57 Federal Home Loan
Mortgage Corporation 749,081 822,310 948,409
58 One- to four-family 744,619 816,602 940,933
59 Multifamily 4,462 5,708 7,476
60 Federal National Mortgage
Association 960,883 1,057,750 1,290,351
61 One- to four-family 924,941 1,016,398 1,238,125
62 Multifamily 35,942 41,352 52,226
63 Farmers Home
Administration (4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 654,319 734,445 870,454
69 One- to four-family (6) 455,021 499,834 591,200
70 Multifamily 41,952 47,529 53,537
71 Nonfarm, nonresidential 157,346 187,082 225,717
72 Farm 0 0 0
73 Individuals and others (7) 654,576 695,691 716,662
74 One- to four-family 456,009 492,429 506,669
75 Multifamily 75,076 75,457 78,252
76 Nonfarm, nonresidential 102,274 105,453 107,949
77 Farm 21,217 22,352 23,792
2002
Type of holder and property Q1 Q2 Q3
1 All holders 7,752,374 7,967,494 8,201,739
By type of property
2 One- to four-family
residences 5,877,230 6,049,571 6,247,731
3 Multifamily residences 457,381 468,374 476,708
4 Nonfarm, nonresidential 1,299,634 1,329,097 1,353,685
5 Farm 118,130 120,452 123,614
By type of holder
6 Major financial
institutions 2,790,860 2,861,224 2,981,790
7 Commercial banks (2) 1,799,118 1,873,362 1,962,198
8 One- to four-family 1,017,001 1,070,513 1,143,985
9 Multifamily 86,676 90,745 90,930
10 Nonfarm, nonresidential 659,452 675,119 689,481
11 Farm 35,990 36,985 37,802
12 Savings institutions (3) 748,349 742,744 773,652
13 One- to four-family 606,662 599,377 625,402
14 Multifamily 65,192 66,016 68,668
15 Nonfarm, nonresidential 75,945 76,799 79,022
16 Farm 550 552 560
17 Life insurance companies 243,393 245,118 245,939
18 One- to four-family 4,938 5,162 5,176
19 Multifamily 35,671 35,818 35,921
20 Nonfarm, nonresidential 188,699 190,050 190,698
21 Farm 14,085 14,088 14,144
22 Federal and related
agencies 385,027 396,091 412,014
23 Government National
Mortgage Association 8 8 8
24 One- to four-family 8 8 8
25 Multifamily 0 0 0
26 Farmers Home
Administration (4) 72,362 71,970 72,030
27 One- to four-family 15,665 15,273 15,139
28 Multifamily 11,707 11,692 11,686
29 Nonfarm, nonresidential 41,134 41,188 41,439
30 Farm 3,855 3,817 3,766
31 Federal Housing Admin.
and Dept. of Veterans
Affairs 3,361 3,473 2,973
32 One- to four-family 1,255 1,254 1,252
33 Multifamily 2,105 2,218 1,721
34 Resolution Trust
Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 7 22 13
40 One- to four-family 1 4 2
41 Multifamily 1 2 2
42 Nonfarm, nonresidential 4 14 8
43 Farm 0 0 0
44 Federal National Mortgage
Association 176,051 180,491 184,191
45 One- to four-family 160,300 164,038 167,006
46 Multifamily 15,751 16,453 17,185
47 Federal Land Banks 41,981 42,951 44,782
48 One- to four-family 2,470 2,527 2,635
49 Farm 39,511 40,424 42,147
50 Federal Home Loan
Mortgage Corporation 59,624 58,872 60,934
51 One- to four-family 35,955 34,062 34,616
52 Multifamily 23,669 24,810 26,318
53 Mortgage pools or
trusts (5) 3,854,494 3,971,458 4,052,418
54 Government National
Mortgage Association 587,204 583,745 567,386
55 One- to four-family 564,108 559,549 542,208
56 Multifamily 23,096 24,196 25,178
57 Federal Home Loan
Mortgage Corporation 1,012,478 1,053,261 1,058,176
58 One- to four-family 1,005,136 1,045,981 1,050,899
59 Multifamily 7,342 7,280 7,277
60 Federal National Mortgage
Association 1,355,404 1,404,594 1,458,945
61 One- to four-family 1,301,374 1,349,442 1,402,929
62 Multifamily 54,030 55,152 56,016
63 Farmers Home
Administration (4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 899,408 929,858 967,911
69 One- to four-family (6) 616,300 638,300 669,300
70 Multifamily 53,918 55,234 56,582
71 Nonfarm, nonresidential 229,190 236,324 242,029
72 Farm 0 0 0
73 Individuals and others (7) 721,993 738,721 755,517
74 One- to four-family 514,560 525,893 540,187
75 Multifamily 78,085 78,639 79,127
76 Nonfarm, nonresidential 105,210 109,604 111,008
77 Farm 24,138 24,585 25,194
2002 2003
Type of holder and property Q4 Q1
1 All holders 8,459,605 8,671,432
By type of property
2 One- to four-family
residences 6,459,308 6,641,409
3 Multifamily residences 488,428 496,475
4 Nonfarm, nonresidential 1,387,110 1,407,138
5 Farm 124,759 126,410
By type of holder
6 Major financial
institutions 3,089,824 3,166,701
7 Commercial banks (2) 2,058,426 2,099,352
8 One- to four-family 1,222,056 1,244,823
9 Multifamily 94,178 96,830
10 Nonfarm, nonresidential 704,167 718,996
11 Farm 38,025 38,704
12 Savings institutions (3) 781,378 815,873
13 One- to four-family 631,392 662,858
14 Multifamily 68,679 69,757
15 Nonfarm, nonresidential 80,730 82,669
16 Farm 577 589
17 Life insurance companies 250,019 251,476
18 One- to four-family 4,657 4,684
19 Multifamily 36,816 36,975
20 Nonfarm, nonresidential 195,040 196,232
21 Farm 13,506 13,585
22 Federal and related
agencies 432,790 455,606
23 Government National
Mortgage Association 5 6
24 One- to four-family 5 6
25 Multifamily 0 0
26 Farmers Home
Administration (4) 72,377 69,988
27 One- to four-family 14,908 14,652
28 Multifamily 11,669 11,654
29 Nonfarm, nonresidential 42,101 40,093
30 Farm 3,700 3,590
31 Federal Housing Admin.
and Dept. of Veterans
Affairs 3,854 3,824
32 One- to four-family 1,262 1,255
33 Multifamily 2,592 2,569
34 Resolution Trust
Corporation 0 0
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 46 118
40 One- to four-family 7 19
41 Multifamily 9 23
42 Nonfarm, nonresidential 30 76
43 Farm 0 0
44 Federal National Mortgage
Association 185,797 195,633
45 One- to four-family 172,226 180,829
46 Multifamily 13,571 14,804
47 Federal Land Banks 46,257 46,974
48 One- to four-family 2,722 2,764
49 Farm 43,535 44,210
50 Federal Home Loan
Mortgage Corporation 63,887 64,388
51 One- to four-family 35,851 35,880
52 Multifamily 28,036 28,508
53 Mortgage pools or
trusts (5) 4,161,020 4,265,292
54 Government National
Mortgage Association 537,888 515,822
55 One- to four-family 512,098 489,063
56 Multifamily 25,790 26,759
57 Federal Home Loan
Mortgage Corporation 1,082,062 1,073,016
58 One- to four-family 1,072,990 1,064,114
59 Multifamily 9,072 8,902
60 Federal National Mortgage
Association 1,538,287 1,637,474
61 One- to four-family 1,478,610 1,576,495
62 Multifamily 59,677 60,979
63 Farmers Home
Administration (4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 1,002,783 1,038,980
69 One- to four-family (6) 691,600 725,100
70 Multifamily 59,034 59,169
71 Nonfarm, nonresidential 252,149 254,711
72 Farm 0 0
73 Individuals and others (7) 775,971 783,833
74 One- to four-family 558,434 564,262
75 Multifamily 79,228 79,478
76 Nonfarm, nonresidential 112,894 114,361
77 Farm 25,415 25,733
(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 2000 2001 2002
Seasonally adjusted
1 Total 1,559,532 1,666,816 1,726,120
2 Revolving 667,395 701,285 712,002
3 Nonrevolving (2) 892,137 965,531 1,014,118
Not seasonally adjusted
4 Total 1,593,116 1,701,856 1,761,968
By major holder
5 Commercial banks 541,470 558,421 587,165
6 Finance companies 219,848 236,559 232,269
7 Credit unions 184,434 189,570 195,744
8 Savings institutions 64,557 69,070 68,494
9 Nonfinancial business 82,662 67,995 56,894
10 Pools of securitized
assets (3) 500,145 580,281 621,402
By major type of credit (4)
11 Revolving 693,020 727,297 737,993
12 Commercial banks 218,063 224,878 230,990
13 Finance companies 37,627 31,538 38,948
14 Credit unions 22,226 22,265 22,228
15 Savings institutions 16,560 17,767 16,225
16 Nonfinancial business 42,430 29,790 19,221
17 Pools of securitized
assets (3) 356,114 401,059 410,381
18 Nonrevolving 900,096 974,559 1,023,975
19 Commercial banks 323,407 333,543 356,175
20 Finance companies 182,221 205,021 193,321
21 Credit unions 162,208 167,305 173,516
22 Savings institutions 47,997 51,303 52,269
23 Nonfinancial business 40,232 38,165 32,673
24 Pools of securitized
assets (3) 144,031 179,222 211,021
2003
Holder and type of credit Feb. (r) Mar. (r) Apr. (r)
Seasonally adjusted
1 Total 1,743,989 1,746,797 1,757,537
2 Revolving 718,771 720,594 723,272
3 Nonrevolving (2) 1,025,219 1,026,203 1,034,264
Not seasonally adjusted
4 Total 1,742,983 1,736,533 1,746,056
By major holder
5 Commercial banks 581,501 575,275 576,936
6 Finance companies 232,890 225,229 231,262
7 Credit unions 195,003 196,441 198,237
8 Savings institutions 68,444 68,418 70,116
9 Nonfinancial business 49,564 48,479 47,715
10 Pools of securitized
assets (3) 615,581 622,692 621,790
By major type of credit (4)
11 Revolving 718,991 713,465 719,469
12 Commercial banks 218,844 212,452 213,069
13 Finance companies 37,947 36,334 37,609
14 Credit unions 21,096 20,722 20,883
15 Savings institutions 16,064 15,980 17,022
16 Nonfinancial business 14,203 13,666 13,112
17 Pools of securitized
assets (3) 410,837 414,311 417,773
18 Nonrevolving 1,023,992 1,023,069 1,026,587
19 Commercial banks 362,657 362,823 363,866
20 Finance companies 194,944 188,895 193,653
21 Credit unions 173,907 175,719 177,354
22 Savings institutions 52,380 52,438 53,094
23 Nonfinancial business 35,361 34,813 34,603
24 Pools of securitized
assets (3) 204,744 208,381 204,017
2003
Holder and type of credit May (r) June (r) July (r)
Seasonally adjusted
1 Total 1,768,250 1,768,401 1,774,431
2 Revolving 727,892 726,620 726,947
3 Nonrevolving (2) 1,040,358 1,041,781 1,047,484
Not seasonally adjusted
4 Total 1,756,349 1,759,279 1,763,092
By major holder
5 Commercial banks 582,413 584,294 582,383
6 Finance companies 228,853 231,939 237,173
7 Credit unions 200,321 202,012 204,060
8 Savings institutions 71,871 73,570 73,452
9 Nonfinancial business 48,132 47,599 47,165
10 Pools of securitized
assets (3) 624,759 619,866 618,858
By major type of credit (4)
11 Revolving 723,449 723,462 721,107
12 Commercial banks 217,685 217,453 214,712
13 Finance companies 34,498 34,608 35,047
14 Credit unions 20,964 21,076 21,196
15 Savings institutions 18,099 19,141 18,919
16 Nonfinancial business 13,293 12,908 12,657
17 Pools of securitized
assets (3) 418,910 418,276 418,575
18 Nonrevolving 1,032,900 1,035,817 1,041,986
19 Commercial banks 364,728 366,841 367,672
20 Finance companies 194,355 197,331 202,125
21 Credit unions 179,357 180,936 182,864
22 Savings institutions 53,773 54,429 54,533
23 Nonfinancial business 34,839 34,691 34,508
24 Pools of securitized
assets (3) 205,849 201,590 200,283
(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 total are available.
1.56 TERMS OF CONSUMER CREDIT (1)
Percent per year except as noted
2003
Item 2000 2001 2002 Jan.
INTEREST RATES
Commercial banks (2)
1 48-month new car 9.34 8.50 7.54 n.a.
2 24-month personal 13.90 13.22 12.25 n.a.
Credit card plan
3 All accounts 15.71 14.89 13.42 n.a.
4 Accounts assessed interest 14.91 14.44 13.09 n.a.
Auto finance companies
5 New car 6.61 5.65 4.29 3.13
6 Used car 13.55 12.18 10.74 10.37
OTHER TERMS (3)
Maturity (months)
7 New car 54.9 55.1 56.8 58.5
8 Used car 57.0 57.5 57.5 57.5
Loan-to-value ratio
9 New car 92 91 94 96
10 Used car 99 100 100 100
Amount financed (dollars)
11 New car 20,923 22,822 24,747 26,443
12 Used car 14,058 14,416 14,532 14,499
2003
Item Feb. Mar. Apr. May
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.11 n.a. n.a. 7.05
2 24-month personal 11.70 n.a. n.a. 12.19
Credit card plan
3 All accounts 13.20 n.a. n.a. 12.90
4 Accounts assessed interest 12.85 n.a. n.a. 12.82
Auto finance companies
5 New car 3.99 3.83 2.51 2.40
6 Used car 10.43 10.16 9.91 9.82
OTHER TERMS (3)
Maturity (months)
7 New car 59.2 59.5 60.1 60.7
8 Used car 57.7 57.8 57.7 57.7
Loan-to-value ratio
9 New car 97 96 97 97
10 Used car 99 99 99 99
Amount financed (dollars)
11 New car 24,864 25,152 27,540 27,920
12 Used car 14,231 14,253 14,475 14,568
2003
Item June July
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. n.a.
2 24-month personal n.a. n.a.
Credit card plan
3 All accounts n.a. n.a.
4 Accounts assessed interest n.a. n.a.
Auto finance companies
5 New car 2.93 3.28
6 Used car 9.81 9.77
OTHER TERMS (3)
Maturity (months)
7 New car 62.4 62.7
8 Used car 57.8 57.8
Loan-to-value ratio
9 New car 97 95
10 Used car 100 100
Amount financed (dollars)
11 New car 26,945 26,129
12 Used car 14,567 14,632
(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, see address, see inside front cover.
(2.) Data are available for only the second month of each
quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS (1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category
or sector 1997 1998 1999 2000
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 788.1 1,041.9 1,030.9 853.5
By sector and instrument
2 Federal government 23.1 -52.6 -71.2 -295.9
3 Treasury securities 23.2 -54.6 -71.0 -294.9
4 Budget agency securities
and mortgages -.1 2.0 -.2 -1.0
5 Nonfederal 765.0 1,094.5 1,102.1 1,149.3
By instrument
6 Commercial paper 13.7 24.4 37.4 48.1
7 Municipal securities and
loans 56.9 84.2 54.4 23.6
8 Corporate bonds 150.5 235.2 217.8 161.3
9 Bank loans n.e.c. 106.4 109.8 82.9 101.8
10 Other loans and advances 43.1 68.5 26.1 84.5
11 Mortgages 322.4 485.8 563.3 563.9
12 Home 258.3 384.6 424.4 418.2
13 Multifamily residential 7.2 23.3 35.2 32.9
14 Commercial 53.8 71.3 98.0 106.2
15 Farm 3.1 6.5 5.8 6.5
16 Consumer credit 72.0 86.7 120.2 166.2
By borrowing sector
17 Household 330.8 450.8 498.6 558.8
18 Nonfinancial business 392.7 576.1 565.0 575.1
19 Corporate 291.8 408.4 377.2 380.1
20 Nonfarm noncorporate 94.7 159.7 182.4 184.1
21 Farm 6.2 8.0 5.5 10.9
22 State and local
government 41.5 67.7 38.5 15.5
23 Foreign net borrowing in
United States 71.8 31.2 13.0 57.0
24 Commercial paper 3.7 7.8 16.3 31.7
25 Bonds 61.4 22.8 1.9 15.2
26 Bank loans n.e.c. 8.5 6.6 .5 11.4
27 Other loans and advances -1.8 -6.0 -5.7 -1.3
28 Total domestic plus foreign 859.9 1,073.1 1,043.9 910.5
Financial sectors
29 Total net borrowing by
financial sectors 662.2 1,085.6 1,073.5 821.8
By instrument
30 Federal government-related 212.9 470.9 592.0 433.5
31 Government-sponsored
enterprise securities 98.4 278.3 318.2 234.1
32 Mortgage pool securities 114.6 192.6 273.8 199.4
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 449.3 614.7 481.6 388.3
35 Open maket paper 166.7 161.0 176.2 127.7
36 Corporate bonds 218.9 310.2 207.5 212.3
37 Bank loans n.e.c. 13.3 28.5 -14.4 -.4
38 Other loans and advances 35.6 90.2 107.1 42.5
39 Mortgages 14.9 24.8 5.1 6.2
By borrowing sector
40 Commercial banking 46.1 72.9 67.2 60.0
41 Savings institutions 19.7 52.2 48.0 27.3
42 Credit unions .1 .6 2.2 .0
43 Life insurance companies .2 .7 .7 -.7
44 Government-sponsored
enterprises 98.4 278.3 318.2 234.1
45 Federally related mortgage
pools 114.6 192.6 273.8 199.4
46 Issuers of asset-backed
securities (ABSs) 202.2 321.4 212.3 201.9
47 Finance companies 57.8 57.1 70.7 81.9
48 Mortgage companies -4.6 .0 .0 .0
49 Real estate investment
trusts (REITs) -39.6 62.7 6.3 2.7
50 Brokers and dealers 8.1 7.2 -17.2 15.6
51 Funding corporations 79.9 40.0 91.5 -.4
All sectors
52 Total net borrowing, all
sectors 1,522.2 2,158.7 2,117.4 1,732.3
53 Open market paper 184.1 193.1 229.9 207.6
54 U.S. government securities 236.0 418.3 520.7 137.6
55 Municipal securities 56.9 84.2 54.4 23.6
56 Corporate and foreign bonds 430.8 568.2 427.3 388.7
57 Bank loans n.e.c. 128.2 145.0 69.0 112.8
58 Other loans and advances 76.9 152.7 127.5 125.6
59 Mortgages 337.3 510.6 568.5 570.1
60 Consumer credit 72.0 86.7 120.2 166.2
Funds raised through mutual funds
and corporate equities
61 Total net issues 218.7 166.1 191.5 238.4
62 Corporate equities -46.5 -113.4 .0 3.4
63 Nonfinancial corporations -77.4 -215.5 -110.4 -118.2
64 Foreign shares purchased
by U.S. residents 57.6 101.4 114.3 106.7
65 Financial corporations -26.7 .8 -3.7 14.9
66 Mutual fund shares 265.1 279.5 191.2 235.0
2001 2002
Transaction category
or sector 2001 Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,114.4 1,163.5 992.5 1,628.8
By sector and instrument
2 Federal government -5.6 43.4 39.8 526.0
3 Treasury securities -5.0 44.2 41.6 524.2
4 Budget agency securities
and mortgages -.5 -.7 -1.8 1.8
5 Nonfederal 1,120.0 1,120.1 952.6 1,102.8
By instrument
6 Commercial paper -88.3 45.5 -144.4 -81.7
7 Municipal securities and
loans 122.9 174.6 76.8 196.1
8 Corporate bonds 340.5 325.0 253.6 191.4
9 Bank loans n.e.c. -82.0 -165.5 -16.4 -192.1
10 Other loans and advances 1.8 -119.7 -38.0 65.1
11 Mortgages 699.1 725.7 702.8 825.8
12 Home 532.7 533.1 602.4 658.6
13 Multifamily residential 45.6 54.3 28.5 41.7
14 Commercial 113.4 131.6 65.0 116.5
15 Farm 7.5 6.8 6.9 9.1
16 Consumer credit 126.0 134.5 118.1 98.2
By borrowing sector
17 Household 614.6 596.7 720.9 689.7
18 Nonfinancial business 399.6 381.2 162.9 229.7
19 Corporate 235.3 231.8 47.3 88.5
20 Nonfarm noncorporate 156.8 141.1 110.3 132.7
21 Farm 7.5 8.3 5.3 8.5
22 State and local
government 105.8 142.1 68.9 183.4
23 Foreign net borrowing in
United States -49.7 3.3 65.1 2.1
24 Commercial paper -14.2 5.9 66.8 36.5
25 Bonds -24.5 17.0 -14.5 -54.0
26 Bank loans n.e.c. -7.3 -16.3 13.9 22.0
27 Other loans and advances -3.7 -3.3 -1.2 -2.4
28 Total domestic plus foreign 1,064.6 1,166.9 1,057.5 1,630.9
Financial sectors
29 Total net borrowing by
financial sectors 934.0 964.4 866.1 867.2
By instrument
30 Federal government-related 629.3 591.8 691.1 487.8
31 Government-sponsored
enterprise securities 290.8 306.5 191.3 141.7
32 Mortgage pool securities 338.5 285.3 499.8 346.1
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 304.7 372.6 175.0 379.4
35 Open maket paper -61.9 -13.6 -178.3 -109.1
36 Corporate bonds 317.3 361.1 351.1 434.6
37 Bank loans n.e.c. 13.1 17.7 -.6 31.2
38 Other loans and advances 34.9 8.9 -3.8 15.8
39 Mortgages 1.3 -1.6 6.6 7.0
By borrowing sector
40 Commercial banking 52.9 44.1 24.4 12.6
41 Savings institutions 7.4 -68.6 -33.1 -12.2
42 Credit unions 1.5 4.4 2.4 2.0
43 Life insurance companies .6 1.4 2.4 1.2
44 Government-sponsored
enterprises 290.8 306.5 191.3 141.7
45 Federally related mortgage
pools 338.5 285.3 499.8 346.1
46 Issuers of asset-backed
securities (ABSs) 292.3 416.8 258.3 230.6
47 Finance companies 1.3 -23.6 -28.9 83.9
48 Mortgage companies .0 .0 .0 .0
49 Real estate investment
trusts (REITs) 2.5 7.8 7.4 25.3
50 Brokers and dealers 1.4 -18.9 -15.7 17.5
51 Funding corporations -55.2 9.1 -42.2 18.5
All sectors
52 Total net borrowing, all
sectors 1,998.7 2,131.2 1,923.6 2,498.1
53 Open market paper -164.4 37.8 -255.9 -154.3
54 U.S. government securities 623.8 635.2 730.9 1,013.8
55 Municipal securities 122.9 174.6 76.8 196.1
56 Corporate and foreign bonds 633.3 703.2 590.2 572.0
57 Bank loans n.e.c. -76.2 -164.0 -3.0 -139.0
58 Other loans and advances 32.9 -114.2 -43.0 78.6
59 Mortgages 700.4 724.1 709.4 832.8
60 Consumer credit 126.0 134.5 118.1 98.2
Funds raised through mutual funds
and corporate equities
61 Total net issues 305.0 406.4 437.0 276.5
62 Corporate equities 103.6 150.5 50.1 176.5
63 Nonfinancial corporations -47.4 -4.2 -11.0 15.5
64 Foreign shares purchased
by U.S. residents 109.1 83.9 -7.0 77.4
65 Financial corporations 41.9 70.9 68.1 83.6
66 Mutual fund shares 201.4 255.9 386.9 100.0
2002 2003
Transaction category
or sector Q3 Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,338.3 1,539.0 1,243.4 2,523.8
By sector and instrument
2 Federal government 265.7 198.5 79.9 888.2
3 Treasury securities 264.2 198.1 81.5 887.7
4 Budget agency securities
and mortgages 1.6 .4 -1.6 .5
5 Nonfederal 1,072.5 1,340.5 1,163.5 1,635.6
By instrument
6 Commercial paper -17.4 -13.2 -15.2 -87.3
7 Municipal securities and
loans 154.2 216.1 90.3 189.4
8 Corporate bonds -29.0 114.4 178.6 309.6
9 Bank loans n.e.c. -124.5 -15.3 -55.3 -63.9
10 Other loans and advances 61.2 -.3 -14.5 80.7
11 Mortgages 920.4 1,045.9 886.7 1,141.0
12 Home 780.4 843.5 763.8 951.4
13 Multifamily residential 31.7 67.1 33.3 50.5
14 Commercial 95.2 130.8 83.2 127.8
15 Farm 13.1 4.6 6.4 11.3
16 Consumer credit 107.6 -7.1 93.0 66.2
By borrowing sector
17 Household 791.0 885.6 837.2 1,000.2
18 Nonfinancial business 140.2 267.2 252.1 460.3
19 Corporate -2.9 107.6 134.2 311.5
20 Nonfarm noncorporate 128.8 156.3 113.4 146.0
21 Farm 14.2 3.4 4.6 2.8
22 State and local
government 141.3 187.7 74.2 175.1
23 Foreign net borrowing in
United States -44.0 1.1 18.4 -48.4
24 Commercial paper 3.9 37.3 52.6 73.5
25 Bonds -35.3 -30.1 -29.4 -93.5
26 Bank loans n.e.c. -11.7 -2.9 -4.0 -31.4
27 Other loans and advances -1.0 -3.2 -.8 3.0
28 Total domestic plus foreign 1,294.2 1,540.0 1,261.8 2,475.4
Financial sectors
29 Total net borrowing by
financial sectors 858.5 1,102.7 1,002.6 871.8
By instrument
30 Federal government-related 420.8 616.4 452.0 460.4
31 Government-sponsored
enterprise securities 249.1 321.5 179.7 209.8
32 Mortgage pool securities 171.6 294.9 272.3 250.6
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 437.7 486.4 550.6 411.4
35 Open maket paper 84.3 -77.3 58.8 -93.6
36 Corporate bonds 194.4 684.4 432.5 497.7
37 Bank loans n.e.c. 81.9 -107.9 -42.7 21.0
38 Other loans and advances 71.9 -17.4 105.5 -17.0
39 Mortgages 5.3 4.7 -3.5 3.3
By borrowing sector
40 Commercial banking 62.3 100.3 76.1 85.1
41 Savings institutions 37.1 -46.7 48.2 -30.3
42 Credit unions 3.1 .4 2.8 1.6
43 Life insurance companies 2.0 2.5 4.4 1.5
44 Government-sponsored
enterprises 249.1 321.5 179.7 209.8
45 Federally related mortgage
pools 171.6 294.9 272.3 250.6
46 Issuers of asset-backed
securities (ABSs) 195.8 389.9 315.2 286.7
47 Finance companies 110.9 7.4 -.2 153.8
48 Mortgage companies .0 .0 .0 .0
49 Real estate investment
trusts (REITs) 27.7 18.6 17.5 12.9
50 Brokers and dealers 15.2 -24.0 38.4 -16.2
51 Funding corporations -16.4 37.8 48.0 -83.6
All sectors
52 Total net borrowing, all
sectors 2,152.7 2,642.7 2,264.4 3,347.2
53 Open market paper 70.8 -53.3 96.3 -107.5
54 U.S. government securities 686.5 814.9 531.9 1,348.6
55 Municipal securities 154.2 216.1 90.3 189.4
56 Corporate and foreign bonds 130.0 768.6 581.7 713.7
57 Bank loans n.e.c. -54.4 -126.1 -102.0 -74.3
58 Other loans and advances 132.2 -20.9 90.1 66.7
59 Mortgages 925.7 1,050.6 883.2 1,144.3
60 Consumer credit 107.6 -7.1 93.0 66.2
Funds raised through mutual funds
and corporate equities
61 Total net issues -83.6 291.0 288.7 400.4
62 Corporate equities -120.7 84.1 99.6 52.0
63 Nonfinancial corporations -141.2 -30.9 -80.1 -57.6
64 Foreign shares purchased
by U.S. residents -51.3 51.6 132.5 56.0
65 Financial corporations 71.8 63.4 47.2 53.6
66 Mutual fund shares 37.1 206.9 189.1 348.4
(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 1997 1998 1999 2000
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in credit
markets 1,522.2 2,158.7 2,117.4 1,732.3
2 Domestic nonfederal
nonfinancial sectors 15.5 250.9 257.1 -13.7
3 Household 25.5 119.1 247.1 -33.6
4 Nonfinancial corporate
business -12.7 -16.0 -15.6 19.4
5 Nonfarm noncorporate
business 2.6 13.3 -2.9 1.3
6 State and local
governments .1 134.5 28.4 -.8
7 Federal government 3.2 11.7 6.5 11.6
8 Rest of the world 259.6 167.7 96.6 129.5
9 Financial sectors 1,243.9 1,728.4 1,757.3 1,604.8
10 Monetary authority 38.3 21.1 25.7 33.7
11 Commercial banking 324.3 305.6 312.2 357.9
12 U.S.-chartered banks 274.9 312.1 318.6 339.5
13 Foreign banking offices
in United States 40.2 -11.6 -17.0 23.9
14 Bank holding companies 5.4 -.9 6.2 -12.2
15 Banks in U.S.-
affiliated areas 3.7 6.0 4.4 6.7
16 Savings institutions -4.7 36.2 67.7 56.2
17 Credit unions 16.8 18.9 27.5 28.0
18 Bank personal trusts and
estates -25.0 -12.8 27.8 .8
19 Life insurance companies 104.8 76.9 53.5 57.9
20 Other insurance companies 25.2 5.8 -3.0 -8.7
21 Private pension funds 45.7 -26.1 14.1 31.3
22 State and local
government retirement
funds 67.1 72.1 46.9 54.6
23 Money market mutual funds 87.5 244.0 182.0 143.0
24 Mutual funds 80.9 127.3 48.4 21.0
25 Closed-end funds -2.9 5.2 8.5 -6.3
26 Government-sponsored
enterprises 106.3 314.0 291.3 256.4
27 Federally related
mortgage pools 114.6 192.6 273.8 199.4
28 Asset-backed securities
issuers (ABSs) 163.8 281.7 194.1 172.1
29 Finance companies 23.1 77.3 97.1 108.6
30 Mortgage companies -9.1 .0 .0 .0
31 Real estate investment
trusts (REITs) 20.2 -5.1 -2.6 -7.1
32 Brokers and dealers 14.9 6.8 -34.7 68.9
33 Funding corporations 50.4 -15.8 124.0 35.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,522.2 2,158.7 2,117.4 1,732.3
Other financial sources
35 Official foreign exchange .7 6.6 -8.7 -.4
36 Special drawing rights
certificates -.5 .0 -3.0 -4.0
37 Treasury currency .5 .6 1.0 2.4
38 Foreign deposits 107.7 6.5 61.1 134.2
39 Net interbank transactions -19.7 -31.8 15.0 15.1
40 Checkable deposits and
currency 41.2 47.3 151.2 -71.4
41 Small time and savings
deposits 97.1 152.4 45.1 188.8
42 Large time deposits 122.5 91.8 131.1 116.2
43 Money market fund shares 155.9 287.2 249.1 233.3
44 Security repurchase
agreements 120.9 91.3 169.8 113.2
45 Corporate equities -46.5 -113.4 .2 3.4
46 Mutual fund shares 265.1 279.5 191.2 235.0
47 Trade payables 139.8 106.4 268.5 419.5
48 Security credit 111.0 103.2 104.4 146.1
49 Life insurance reserves 59.3 48.0 50.8 50.2
50 Pension fund reserves 201.4 217.4 181.8 209.0
51 Taxes payable 22.3 19.6 30.7 32.8
52 Investment in bank personal
trusts -53.0 -46.1 -8.1 56.6
53 Noncorporate proprietors'
equity -40.7 -57.8 -62.4 -11.5
54 Miscellaneous 496.9 953.3 1,125.5 1,371.8
55 Total financial sources 3,304.2 4,320.6 4,811.9 4,972.6
Liabilities not identified
as assets (-)
56 Treasury currency -.2 -.1 -.7 -1.2
57 Foreign deposits 106.2 -8.5 42.8 78.5
58 Net interbank liabilities -19.9 3.8 .1 20.4
59 Security repurchase
agreements 63.2 57.7 35.7 122.6
60 Taxes payable 28.0 19.7 11.7 26.2
61 Miscellaneous -285.5 -208.5 -279.7 -527.2
Floats not included in
assets (-)
62 Federal government
checkable deposits -2.7 2.6 -7.4 9.0
63 Other checkable deposits -3.9 -3.1 -.8 1.7
64 Trade credit -25.5 -43.3 6.8 22.4
65 Total identified to sectors
as assets 3,397.9 4,452.4 4,955.0 5,192.2
2001 2002
Transaction
category or sector 2001 Q4 Q1 Q2
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in credit
markets 1,998.7 2,131.2 1,923.6 2,498.1
2 Domestic nonfederal
nonfinancial sectors 27.1 172.6 100.4 292.0
3 Household -.7 145.3 48.9 257.6
4 Nonfinancial corporate
business -12.4 -17.1 69.3 -11.4
5 Nonfarm noncorporate
business 2.0 2.0 3.3 3.3
6 State and local
governments 38.1 42.4 -21.1 42.5
7 Federal government 6.0 -1.5 9.3 -3.7
8 Rest of the world 234.6 274.7 248.0 458.0
9 Financial sectors 1,731.0 1,685.4 1,565.9 1,751.8
10 Monetary authority 39.9 85.1 81.6 43.4
11 Commercial banking 205.2 314.6 188.9 384.3
12 U.S.-chartered banks 191.6 275.0 168.2 343.8
13 Foreign banking offices
in United States -.6 -7.8 2.1 33.7
14 Bank holding companies 4.2 13.6 12.0 1.9
15 Banks in U.S.-
affiliated areas 10.0 33.9 6.6 4.9
16 Savings institutions 42.8 73.1 12.3 -23.5
17 Credit unions 41.5 60.5 58.3 61.8
18 Bank personal trusts and
estates -28.1 -28.1 1.0 .9
19 Life insurance companies 130.9 81.3 278.1 206.6
20 Other insurance companies 9.0 28.5 36.7 35.4
21 Private pension funds 6.7 -20.9 47.1 22.1
22 State and local
government retirement
funds -17.7 -2.7 70.5 -54.5
23 Money market mutual funds 246.0 49.1 -239.1 -87.5
24 Mutual funds 126.0 139.3 243.3 41.9
25 Closed-end funds 6.9 16.3 24.4 -2.6
26 Government-sponsored
enterprises 309.0 335.3 236.7 130.1
27 Federally related
mortgage pools 338.5 285.3 499.8 346.1
28 Asset-backed securities
issuers (ABSs) 266.2 394.1 234.1 208.4
29 Finance companies -4.8 -99.6 -26.5 42.2
30 Mortgage companies .0 .0 .0 .0
31 Real estate investment
trusts (REITs) 6.7 14.0 26.3 31.8
32 Brokers and dealers 92.4 -110.5 -219.5 402.8
33 Funding corporations -95.8 60.4 6.1 -45.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,998.7 2,131.2 1,923.6 2,498.1
Other financial sources
35 Official foreign exchange 4.3 .2 -3.0 12.9
36 Special drawing rights
certificates .0 .0 .0 .0
37 Treasury currency 1.3 .0 .9 .6
38 Foreign deposits 30.7 9.6 -43.8 66.1
39 Net interbank transactions -28.0 24.5 3.3 -166.5
40 Checkable deposits and
currency 204.3 278.1 -200.5 210.2
41 Small time and savings
deposits 267.2 329.7 288.3 215.6
42 Large time deposits 68.6 77.8 270.0 34.8
43 Money market fund shares 428.6 379.8 -312.5 104.2
44 Security repurchase
agreements 22.3 -138.3 119.4 362.4
45 Corporate equities 103.6 150.5 50.1 176.5
46 Mutual fund shares 201.4 255.9 386.9 100.0
47 Trade payables -73.4 -126.1 194.8 48.9
48 Security credit 3.1 -383.7 -190.7 -131.9
49 Life insurance reserves 77.2 119.6 54.0 71.4
50 Pension fund reserves 210.8 158.0 148.8 191.7
51 Taxes payable 17.4 -55.2 7.2 40.5
52 Investment in bank personal
trusts -59.9 -57.7 -3.7 -2.4
53 Noncorporate proprietors'
equity -18.6 8.4 1.5 -32.9
54 Miscellaneous 683.1 200.5 120.3 641.9
55 Total financial sources 4,142.8 3,362.7 2,815.1 4,442.2
Liabilities not identified
as assets (-)
56 Treasury currency -.1 .0 -1.5 -.9
57 Foreign deposits 11.1 -46.9 -87.1 99.1
58 Net interbank liabilities 17.2 22.6 39.8 -13.0
59 Security repurchase
agreements -53.9 -166.2 156.9 227.6
60 Taxes payable 22.0 34.6 17.9 -52.2
61 Miscellaneous -341.2 -278.7 -336.8 15.2
Floats not included in
assets (-)
62 Federal government
checkable deposits 5.7 -91.8 15.1 77.1
63 Other checkable deposits 4.5 5.7 6.1 7.1
64 Trade credit -6.5 73.6 -26.6 -53.6
65 Total identified to sectors
as assets 4,414.1 3,749.3 2,987.9 4,097.1
2002 2003
Transaction
category or sector Q3 Q4 Q1 Q2
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in credit
markets 2,152.7 2,642.7 2,264.4 3,347.2
2 Domestic nonfederal
nonfinancial sectors -116.4 132.6 -353.9 20.1
3 Household -170.5 127.2 -326.4 -67.5
4 Nonfinancial corporate
business 33.5 -42.4 54.9 34.4
5 Nonfarm noncorporate
business 2.8 4.0 -.2 4.1
6 State and local
governments 17.8 43.8 -82.1 49.1
7 Federal government 31.1 3.1 -18.3 -1.4
8 Rest of the world 393.9 351.0 359.5 1,055.8
9 Financial sectors 1,844.1 2,156.0 2,277.1 2,272.7
10 Monetary authority 67.3 118.7 32.3 25.0
11 Commercial banking 624.0 420.4 349.0 616.3
12 U.S.-chartered banks 599.9 463.3 305.6 547.7
13 Foreign banking offices
in United States 21.8 -32.8 23.3 12.2
14 Bank holding companies -1.6 .2 20.8 39.7
15 Banks in U.S.-
affiliated areas 4.0 -10.2 -.7 16.8
16 Savings institutions 80.3 72.5 189.4 88.0
17 Credit unions 6.1 44.4 43.5 71.2
18 Bank personal trusts and
estates .8 .8 -19.3 -17.6
19 Life insurance companies 279.0 168.2 276.0 216.0
20 Other insurance companies 21.7 65.6 57.7 42.9
21 Private pension funds 40.2 .2 7.3 39.5
22 State and local
government retirement
funds -10.4 60.7 .1 62.7
23 Money market mutual funds -75.7 301.2 -187.0 214.0
24 Mutual funds 162.7 118.4 220.2 213.0
25 Closed-end funds -1.7 17.0 31.1 24.1
26 Government-sponsored
enterprises 203.5 277.8 302.7 112.6
27 Federally related
mortgage pools 171.6 294.9 272.3 250.6
28 Asset-backed securities
issuers (ABSs) 173.2 368.1 291.4 266.1
29 Finance companies 83.9 -14.8 -2.4 56.6
30 Mortgage companies .0 .0 .0 .0
31 Real estate investment
trusts (REITs) 27.7 6.7 -8.6 31.0
32 Brokers and dealers -208.6 138.8 19.6 1.3
33 Funding corporations 165.2 -324.3 374.5 -43.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,152.7 2,642.7 2,264.4 3,347.2
Other financial sources
35 Official foreign exchange 24.6 4.9 4.9 .6
36 Special drawing rights
certificates .0 .0 .0 .0
37 Treasury currency 2.4 .0 .6 1.6
38 Foreign deposits 53.0 20.3 -73.7 78.6
39 Net interbank transactions 62.4 170.0 -4.1 -123.5
40 Checkable deposits and
currency 208.0 -43.7 271.3 94.2
41 Small time and savings
deposits 323.4 257.2 261.6 437.6
42 Large time deposits 36.8 -140.2 191.6 43.4
43 Money market fund shares -196.6 337.6 -441.4 186.0
44 Security repurchase
agreements -91.1 29.2 -50.4 564.3
45 Corporate equities -120.7 84.1 99.6 52.0
46 Mutual fund shares 37.1 206.9 189.1 348.4
47 Trade payables 126.2 157.1 141.4 202.4
48 Security credit -69.6 44.1 229.8 641.8
49 Life insurance reserves 60.8 54.2 94.0 70.0
50 Pension fund reserves 287.2 232.7 269.5 245.5
51 Taxes payable 53.8 7.2 55.2 45.1
52 Investment in bank personal
trusts -2.1 -1.3 -79.9 -43.7
53 Noncorporate proprietors'
equity -83.9 -40.9 -22.1 8.0
54 Miscellaneous 876.1 160.6 789.2 908.8
55 Total financial sources 3,740.4 4,182.8 4,190.5 7,108.5
Liabilities not identified
as assets (-)
56 Treasury currency 1.1 -1.1 -.2 .5
57 Foreign deposits 23.9 36.7 -70.4 112.7
58 Net interbank liabilities 16.7 -15.1 6.1 -42.2
59 Security repurchase
agreements -291.8 -62.0 112.2 292.4
60 Taxes payable 21.5 -55.6 -20.2 -12.4
61 Miscellaneous 98.9 75.3 -329.2 129.1
Floats not included in
assets (-)
62 Federal government
checkable deposits -40.3 -51.7 153.1 -104.9
63 Other checkable deposits 7.6 8.4 9.0 9.7
64 Trade credit -14.8 18.5 -3.8 24.3
65 Total identified to sectors
as assets 3,865.4 4,181.8 4,291.9 6,649.1
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (1)
Billions of dollars, end of period
Transaction category 1998 1999 2000 2001
or sector
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 16,2411.8 17,306.5 18,171.0 19,286.0
By sector instrument
2 Federal government 3,752.2 3,681.0 3,385.1 3,379.5
3 Treasury securities 3,723.7 3,652.7 3,357.8 3,352.7
4 Budget agency
securities and
mortgages 28.5 28.3 27.3 26.8
5 Nonfederal 12,488.7 13,625.5 14,785.9 15,906.5
By Instrument
6 Commercial paper 193.0 230.3 278.4 190.1
7 Municipal securities
and loans 1,402.9 1,157.2 1,480.9 1,603.7
8 Corporate bonds 1,846.0 2,063.9 2,225.1 2,565.6
9 Bank loans n.e.c. 1,150.2 1,233,2 1,335.0 153.5
10 Other loans and
advances 826.1 892.4 936.9 938.7
11 Mortgages 5,640.4 6,238.1 6,902.0 7,501.1
12 Home 4,362.9 4,787,2 5,205.4 5,738.1
13 Multifamily
residential 307.9 343.4 376.4 421.9
14 Commercial 873.0 1,005.1 1,111.4 1,224.7
15 Farm 96.6 102.3 108.9 116.3
16 Consumer credit 1,430.1 1,550.4 1,727.7 1,853.7
By borrowing sector
17 Households 6,012.0 651.1 7,080.8 7,695.4
IS Nonfinancial business 5,338.3 5,937.7 6,512.8 6,913.0
19 Corporate 3,790.7 4,202.2 4,582.4 4,818.3
20 Nonfarm corporate 1,383.7 1,566.1 1,750.2 1,907.0
21 Farm 163.9 169.4 180.2 187.7
22 State and local
government 1,138.3 1,176.9 1,192.3 1,298.1
23 Foreign credit market
debt held in United
States 639.3 652.5 709.5 659.7
24 Commercial paper 729.0 892.0 120.9 106.7
25 Bonds 450.6 452.5 467.7 443.2
26 Bank loans n.e.c. 58.7 592.0 70.5 63.2
27 Other loans and advances 57.1 51.6 50.3 46.6
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 16,880.1 17,958.9 18,880.5 19,945.7
Financial sectors
29 Total credit market
debt owed by financial
sectors 6,543.6 7,617.2 8,439.0 9,370.3
By instrument
30 Federal government- 3,292.0 3,884.0 4,317.4 4,944.1
related
31 Government-sponsored
securities 1,273.6 1,592.7 1,825.8 2,114.0
32 Mortgage pool
securities 2,018.4 2,292.2 2,491.6 2,930.1
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 321.6 3,733.2 4,121.5 4,426.2
35 Open market paper 9,116.7 1,082.9 1,210.7 1,148.8
36 Corporate bonds 1,878.7 2,086.3 2,298.5 2,615.8
37 Bank loans me 105.8 91.5 91.1 104.2
38 Other loans and
advances 288.7 395.8 438.3 473.2
39 Mortgage 71.6 76.7 82.9 84.2
By borrowing sector
40 Commercial banks 188.6 230.0 266.7 296.0
41 Bank holding companies 193.5 219.3 2,425.0 266.1
42 Savings Institutions 212.4 2,611.4 287.7 295.1
43 Credit unions 1.1 3.4 3.4 4.9
44 Life insurance companies 2.5 3.2 2.5 3.1
45 Government-sponsored
enterprises 1,273,6 1,591.7 1,825.8 2,114.0
46 Federally related
mortgage pools 2,018.4 2,292.2 2,091.6 2,830.1
47 Issuers of asset-backed
securities (ABSs) 1,398.0 1,610.3 1,812.3 2,114.6
48 Brokers and dealer 42.5 25.3 40.9 42.3
49 Finance companies 625.5 696.1 778.0 779.2
50 Mortgage companies 16.0 16.0 16.0 16.0
51 Real estate investment
trusts (REITs) 158.8 165.1 167.8 170.2
52 Funding corporations 412.6 504.0 503.7 4,484.0
All sectors
53 Total credit market
debt, domestic and
foreign 23,423.8 25,576.1 27,319.4 29,316.0
54 Open market paper 1,172.6 1,402.4 1,610.0 1,445.6
55 U.S. government
securities 7,144.2 564.9 7,702.5 832.6
56 Municipal securities 1,472.9 1,457.2 1,480.9 603.7
57 Corporate and foreign
bonds 4,175,4 4,602.6 491.4 5,624.7
58 Bank loan, and advance 1,314.8 3,383.8 1,496.6 1,412.0
60 Mortgages 5,712.0 6,311.8 6,884.9 7,585.9
61 Consumer credit 1,430.1 1,550.4 1,727.7 1,853.7
2001
Transaction category Q4 Q1 Q2 Q3
or sector
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 19,286.0 19,530.4 19,842.6 20,182.9
By sector instrument
2 Federal government 3,379.5 3,430.3 3,451.4 3,540.8
3 Treasury securities 3,352.7 3,400.0 3,424.6 3,513.6
4 Budget agency
securities and
mortgages 26.8 26.3 26.8 27.2
5 Nonfederal 15,906.5 16,100.1 16,391.2 16,642.1
By Instrument
6 Commercial paper 190.1 167.5 148.4 142.2
7 Municipal secudties
and loans 1,603.7 1,627.5 1,682.0 1,707.9
8 Corporate bonds 2,565.6 2,629.0 2,676.9 2,669.6
9 Bank loans n.e.c. 1,253.5 1.240.1 1,195.0 1,162.2
10 Other loans and
advances 938.7 934.7 948.1 955.0
11 Mortgages 7,501.1 7.665.4 7,874.6 8,112.8
12 Home 5,738.1 5,877.2 6,049.6 6,247.9
13 Multifamily
residential 421.9 429.1 439.5 447.4
14 Commercial 1,224.7 1,221.0 1,270.1 1,293.9
15 Farm 1,163.0 118.1 120.4 123.6
16 Consumer credit 1,853.7 1,835.8 1,861.1 1,892.5
By borrowing sector
17 Households 7,695.4 7,812.5 7,996.6 8,200.1
IS Nonfinancial business 6,913.0 6,967.6 7,024.0 7,148.0
19 Corporate 4,818.3 4,845.7 4,864.2 4,854.1
20 Nonfarm corporate 1,907.0 1,934.7 1,968.0 1,999.0
21 Farm 187.7 187.1 191.8 194.9
22 State and local
government 1,298.1 1,320.0 1,370.6 1,394.0
23 Foreign credit market
debt held in United
States 659.7 675.9 674.1 665.7
24 Commercial paper 106.7 123.6 130.2 134.0
25 Bonds 443.2 439.6 426.1 417.3
26 Bank loans n.e.c. 63.2 66.7 72.2 69.3
27 Other loans and advances 46.6 46.0 45.5 45.1
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 19,945.7 20,206.3 20,516.6 20,848.6
Financial sectors
29 Total credit market
debt owed by financial
sectors 9,370.3 9,565.8 9,778.0 9,982.6
By instrument
30 Federal government- 4,944.1 5,116.9 5,238.8 5,344.0
related
31 Government-sponsored
securities 2,114.0 2,161.8 2,097.2 2,259.5
32 Mortgage pool 2,830.1 2.955.1 3,041.6 3,080.5
securities
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 4,426.2 4.448.9 4,539.2 4,638.6
35 Open market paper 1,148.8 1,090.9 1,046.9 1,049.5
36 Corporate bonds 2,615.8 2,707.4 2,823.6 2,878.9
37 Bank loans me 1,114.0 102.3 110.6 1,317.3
38 Other loans and
advances 473.2 462.4 470.6 491.0
39 Mortgage 84.2 85.9 97.6 88.9
By borrowing sector
40 Commercial banks 296.0 295.8 310.2 318.7
41 Bank holding companies 266.1 264.0 264.2 271.8
42 Savings htstiIutions 295.1 280.5 2,759.0 296.3
43 Credit unions 49.0 5.5 63.7 6.8
44 Life insurance companies 3.1 3.7 4.0 4.5
45 Government-sponsored
enterprises 2,114.0 2,161.8 2,197.2 2,259.5
46 Federally related
mortgage pools 2,830.1 2,955.1 3,041.6 3,084.5
47 Issuers of asset-backed
securities (ABSs) 2,104.6 2,161.4 2,220.6 2,272.8
48 Brokers and dealer 42.3 38.4 42.8 46.6
49 Finance companies 779.2 763.8 788.9 808.0
50 Mortgage companies 16.0 16.0 16.0 16.0
51 Real estate investment
trusts (REITs) 170.2 172.1 178.4 185.3
52 Funding corporations 448.4 442.6 432.8 421.5
All sectors
53 Total credit market
debt, domestic and
foreign 29,316.0 29,772.1 30,294.7 30,831.2
54 Open market paper 1,445.6 1,382.0 1,325.5 1,325.7
55 U.S. government
securities 8,323.6 8,547.2 8,690.2 8,884.8
56 Municipal securities 1,603.7 1,627.5 1,682.0 1,707.9
57 Corporate and foreign
bonds 5,624.7 5,776.1 5,926.6 5,965.8
58 Bank loan, and advance 1,421.0 1,409.1 1,377.8 1,361.7
60 Mortgages 7,585.3 7,751.3 7,967.1 8,201.7
61 Consumer credit 1,953.3 1,835.8 1,861.1 1,892.5
Transaction category Q4 Q1 Q2
or sector
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 20,655.2 20,953.2 21,486.6
By sector instrument
2 Federal government 3,637.0 3,700.6 3,806.9
3 Treasury securities 3,609.8 3,673.7 3,779.9
4 Budget agency
securities and
mortgages 27.3 26.9 27.0
5 Nonfederal 17,018.1 17,252.7 17,679.7
By Instrument
6 Commercial paper 126.0 127.1 1,075.0
7 Municipal securities
and loans 1,764.5 1,791.8 1,844.9
8 Corporate bonds 2,698.2 2,742.9 28,217.3
9 Bank loans n.e.c. 1,166.5 1,141.8 1,129.5
10 Other loans and
advances 960.7 9,623.0 979.8
11 Mortgages 8,369.4 8,578.9 8,872.6
12 Home 6,459.3 6,638.0 6,884.2
13 Multifamily
residential 458.7 467.1 479.7
14 Commercial 1,326.6 1,347.4 1,379.4
15 Farm 124.8 126.4 129.3
16 Consumer credit 1,932.9 1,907.8 1,925.1
By borrowing sector
17 Households 8,467.2 8,610.8 8,874.2
IS Nonfinancial business 7,107.5 7,175.0 7,289.8
19 Corporate 4,872.9 4,912.5 4,987.7
20 Nonfarm corporate 2,039.0 2,067.5 2,104.1
21 Farm 195.6 194.9 198.1
22 State and local
government 1,443.4 1,466.9 1,515.7
23 Foreign credit market
debt held in United
States 665.8 669.8 656.9
24 Commercial paper 142.8 155.7 173.1
25 Bonds 409.8 4,023.0 379.0
26 Bank loans n.e.c. 68.6 67.6 59.7
27 Other loans and advances 44.6 44.1 45.0
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 21,320.9 21,623.0 22,143.5
Financial sectors
29 Total credit market
debt owed by financial
sectors 10,293.9 10,520.9 10,734.1
By instrument
30 Federal government- 5,498.1 5,611.1 5,726.2
related
31 Government-sponsored
securities 2,379.9 2,324.8 2,437.2
32 Mortgage pool
securities 3,159.2 3,226.0 3,289.0
33 Loans from U.S.
government .0 .0 .0
34 Private 4,795.8 4,909.8 51,707.8
35 Open market paper 11,178.7 1,076.5 1,036.5
36 Corporate bonds 3,031.9 3,144.7 3,276.2
37 Bank loans me 105.3 92.9 98.7
38 Other loans and
advances 489.8 506.5 506.5
39 Mortgage 90.1 89.2 90.1
By borrowing sector
40 Commercial banks 325.6 324.8 336.7
41 Bank holding companies 286.4 302.8 314.0
42 Savings Institutions 281.4 287.2 277.1
43 Credit unions 6.9 7.6 8.0
44 Life insurance companies 5.1 6.3 6.6
45 Government-sponsored
enterprises 23,349.0 2,384.8 2,437.2
46 Federally related
mortgage pools 3,158.2 3,226.3 3,289.0
47 Issuers of asset-backed
securities (ABSs) 2,373.2 2,444.1 2,517.5
48 Brokers and dealer 40.6 50.2 46.2
49 Finance companies 822.6 813.6 856.3
50 Mortgage companies 16.0 16.0 160.0
51 Real estate investment
trusts (REITs) 190.0 1,943.0 197.6
52 Funding corporations 447.9 462.7 4,268.0
All sectors
53 Total credit market
debt, domestic and
foreign 31,614.9 32,143.9 32,877.5
54 Open market paper 1,347.5 1,359.2 1,317.1
55 U.S. government
securities 9,135.1 9,311.7 9,533.1
56 Municipal securities 1,764.5 1,791.8 1,844.9
57 Corporate and foreign
bonds 6,139.9 6,290.0 6,475.5
58 Bank loan, and advance 1,340.4 1,302.3 1,287.9
60 Mortgages 8,459.5 8,668.2 8,962.6
61 Consumer credit 1,932.9 1,907.8 1,925.1
(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 from cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction 1998 1999 2000 2001
category or sector
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market asset 23 423.8 25,576.1 27,319.4 29,316.0
2 Domestic nonfederal
nonfinancial sectors 3,314.8 3,622.8 3,572.5 3,585.9
3 Household 2,256.1 2,564.4 2,490.1 2,475.8
4 Nonfinancial corporate
business 241.5 226.0 249.4 237.1
5 Nonfarm noncorporate
business 67.5 64.6 65.9 67.9
6 State and local
governments 739.4 767.8 7,671.1 805.1
7 Endend government 221.5 261.1 272.7 278.7
8 Rest of the world 2,273.5 2.306.8 2,476.9 2,724.3
9 Financial sectors 17,624.1 19,385.4 20.997.4 22,727.1
10 Monetary authority 452.5 478.1 511.8 5,517.0
11 Commercial banking 4,336.1 4,648.3 5.006.3 5,210.5
12 U.S. chartered banks 3,761. 4,080.0 4,719.7 4,858.4
13 Foreign banking
offices in United
States 504.5 487.4 511.3 510.7
14 Bank holding compames 26.5 32.7 20.5 24.7
15 Banks in US, affiliated
areas 43.8 48.3 55.0 65.0
16 Savings institutions 964.7 1,032.4 1,088.6 1,131.4
17 Credit unions 324.2 351.7 379.7 421.2
18 Bank personal trusts
and estates 194.1 2,220.0 222.8 194.7
19 Life insurance companies 1,828.0 1,886.0 1,943.9 2,074.8
20 Other insurance companies 521.1 518.2 5,094.0 518.4
21 Private pension funds 621.1 635.2 666.5 673.1
22 State and local
govermnent retirement
funds 714.6 751.4 806.0 788.4
23 Money market mutual funds 965.9 1,147.8 1,290.9 1,536.9
24 Mutual funds 1,028.4 1,076.8 1,097.8 1,223.8
25 Closed-and funds 98.4 106.9 100.6 107.4
26 Government-sponsored
enterprises 1,252.3 1,543.5 1,807.1 2,114.3
27 Federally related
mortgage pools 2,018.4 2,292.2 2,491.6 2,830.1
28 Asset-backed securities
(ABSs) issuers 1,219.4 1,413.6 1,585.7 1,851.9
29 Finance companies 645.5 7,426.0 851.2 846.4
30 Mortgage companies 32.1 32.1 32.1 32.1
31 Real estate investment
trusts (REITS) 45.5 42.9 35.8 42.5
32 Brokers and dealers 189.4 154.7 223.6 316.0
33 Funding corporations 152.3 276.0 311.0 216.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 23,423.8 25,576.1 27,319.4 29,316.0
Other liabilities
35 Official foreign exchange 60.1 50.1 46.1 46.8
36 Special drawing rights
certificates 9.2 6.2 22.0 2.2
37 Treasury currency 19.9 20.9 232.0 24.5
38 Foreign deposits 624.9 686.1 8,203.0 851.0
39 Net interbank
liabilities 189.4 202.4 221.2 191.4
40 Checkable deposits
and currency 1,333.3 1,484.5 1,413.1 1,603.2
41 Small time and savings
deposits 2,626.5 2,671.6 2,860.4 3,127.6
42 Large time deposits 805.3 936.4 1,052.6 1,121.1
43 Money market fund shares 1,329.7 1,578.8 1,812.1 2,240.7
44 Security repurchase
agreement 913.8 1,183.6 1,196.8 1,231.8
45 Mutual fund but 3,613.1 4,538.5 4,434.6 4,135.5
46 Security credit 57.2 676.6 822.7 825.9
47 Life insurance reserves 718.3 781.9 819.1 8,801.0
48 Pension fund reserves 210.5 9,067.6 9,070.9 8,681.1
49 Trade payables 2,073.8 2,342.3 2,761.8 2,688.4
50 Taxes payable 170.7 201.4 234.2 251.6
51 Investment in bank
personal trusts 1,001.0 1,130.4 1,095.8 960.7
52 Miscellaneous 8,298.5 9,294.9 10,470.7 11,777.0
53 Total liabilities 55,993.9 62,332.2 66,077.2 69,356.5
Financial assets
not included in
liabilities (-)
54 Gold and special
drawing rights 21.6 21.4 21.6 21.8
55 Corporate equities 15,547.3 19,522.8 17,627.9 15,316.0
56 Household equity
noncorporate business 4,279.4 4,510.0 4,743.3 4,824.6
Liabilities not
identified as
assets (-)
57 Treasury currency -6.4 -7.1 -8.5 -8.6
58 Foreign deposits 525.5 5,682.0 646.6 6,577.0
59 Net interbank
transactions -26.5 -28.5 -3.0 11.1
60 Security repurchase
agreements 230.6 266.4 388.9 348.6
61 Taxes payable 121.2 129.4 146.3 121.7
62 Miscellaneous -1,934.5 -2,331.6 -3,422.9 -3,594.1
Floats not included
in assets (-)
63 Federal government
checkable deposits -3.9 -9.8 -2.3 -12.3
64 Other cheekabledeposits 23.1 22.3 24.0 28.6
65 Trade credit 84.8 95.6 122.0 115.5
66 Totals identified to
sectors as assets 76,110.3 86,905.3 90,179.0 90,988.8
Transaction 2001 2002
category or sector Q4 Q1 Q2 Q3
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market asset 29,316.0 29,772.1 30,294.7 30,831.2
2 Domestic nonfederal
nonfinancial sectors 3,585.9 3,594.8 3,652.9 1,601.4
3 Household 2,475.8 2,493.8 2,534.0 2,477.1
4 Nonfinancial corporate
business 237.1 231.6 229.5 238.9
5 Nonfarm noncorporate
business 67.9 68.7 69.6 70.3
6 State and local
governments 805.1 800.6 814.7 815.1
7 Endend government 278.7 281.0 280.1 287.9
8 Rest of the world 2,724.3 2,789.5 2,900.9 3,003.2
9 Financial sectors 22,727.1 23,106.8 23,460.8 23,938.7
10 Monetary authority 5,517.0 575.4 590.7 604.2
11 Commercial banking 5,210.5 5,231.3 5,328.3 5,476.2
12 U.S. chartered banks 5,003.9 5,055.6 5,198,1 4,858.4
13 Foreign banking
offices in United
States 510.7 507.7 512.6 5,212.0
14 Bank holding compames 24.7 277.0 28.1 27.7
15 Banks in US, affiliated
areas 65.0 66.6 67.9 68.8
16 Savings institutions 1,131.4 1,134.7 1,130.9 1,153.8
17 Credit unions 421.2 4,343.0 452.9 455.3
18 Bank personal trusts
and estates 194.7 195.0 195.2 195.4
19 Life insurance companies 2,074.8 2,141.2 2,192.3 2,265.7
20 Other insurance companies 518.4 527.6 536.4 541.9
21 Private pension funds 673.1 684.9 690.4 700.5
22 State and local
govermnent retirement
funds 788.4 806.0 792.4 789.8
23 Money market mutual funds 1,536.9 1,496.9 1,419.6 1,405.7
24 Mutual funds 1,223.8 1,276.8 1,291.6 1,334.5
25 Closed-and funds 107.4 113.5 112.9 112.4
26 Government-sponsored
enterprises 2,114.3 2,163.8 2,200.2 2,253.0
27 Federally related
mortgage pools 2,830.1 2,955.1 3,041.6 3,084.5
28 Asset-backed securities
(ABSs) issuers 1,851.9 1,902.6 1,956.2 2,102.9
29 Finance companies 846.4 834.4 8,482.0 860.8
30 Mortgage companies 32.1 32.1 32.1 32.1
31 Real estate investment
trusts (REITS) 42.5 49.1 57.0 63.9
32 Brokers and dealers 316.0 299.6 352.6 335.2
33 Funding corporations 216.7 2,063.0 191.2 214.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 29,316.0 29.772.1 30,294.7 30,831.2
Other liabilities
35 Official foreign exchange 46.8 45.7 47.2 53.1
36 Special drawing rights
certificates 2.2 22.0 2.2 2.2
37 Treasury currency 24.5 24.7 24.8 25.5
38 Foreign deposits 851.0 840.1 856.6 869.8
39 Net interbank
liabilities 191.4 162.4 131.4 150.7
40 Checkable deposits
and currency 1,603.2 1,518.1 1,571.9 1,610.7
41 Small time and savings
deposits 3,127.6 3,236.7 3,256.4 3,336.8
42 Large time deposits 1,121.1 1,178.9 1,188.7 1,199.9
43 Money market fund shares 2,240.7 2,203.3 2,151.2 2,105.9
44 Security repurchase
agreement 1,231.8 1,262.4 1,343.1 1,313.7
45 Mutual fund but 4,135.5 4,247.0 3,926.6 3,452.3
46 Security credit 825.9 778.0 745.6 726.3
47 Life insurance reserves 881.0 894.2 901.2 902.9
48 Pension fund reserves 8,681.1 8,812.9 8,329.4 7,725.4
49 Trade payables 2,688.4 2,715.3 2,717.9 2,767.1
50 Taxes payable 251.6 259.7 265.8 281.7
51 Investment in bank
personal trusts 960.7 963.2 893.5 811.6
52 Miscellaneous 11,177.0 1,126.7 11,556.2 12,003.5
53 Total liabilities 69,356.5 70,183.9 70,204.6 70,170.3
Financial assets
not included in
liabilities (-)
54 Gold and special
drawing rights 21.8 21.9 22.3 22.8
55 Corporate equities 15,316.0 15,243.6 13,344.2 10.9
56 Household equity
noncorporate business 4,824.6 4,848.0 4,912.8 4,974.3
Liabilities not
identified as
assets (-)
57 Treasury currency -8.6 -8.9 -9.1 -8.9
58 Foreign deposits 657.7 636.0 660.7 666.7
59 Net interbank
transactions 11.1 21.9 17.5 16.5
60 Security repurchase
agreements 348.6 4,111.4 463.9 380.7
61 Taxes payable 121.7 110.7 163.6 155.0
62 Miscellaneous -3,594.1 -3,472.3 -3,502.4 -3,396.0
Floats not included
in assets (-)
63 Federal government
checkable deposits -12.3 -9.6 -9.3 -14.8
64 Other cheekabledeposits 28.6 26.3 31.4 25.8
65 Trade credit 115.5 61.0 15.0 9.8
66 Totals identified to
sectors as assets 90,988.8 91,677.9 89,795.0 87,418.1
Transaction 2003
category or sector Q4 Q1 Q2
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market asset 31,614.9 32,143.9 32,877.5
2 Domestic nonfederal
nonfinancial sectors 36,441.1 3,539.0 3,528.7
3 Household 2,497.6 2,422.1 2,384.9
4 Nonfinancial corporate
business 2,493.0 239.5 249.4
5 Nonfarm noncorporate
business 71.3 712.0 722.0
6 State and local
governments 8,259.0 806.2 822.2
7 Endend government 288.7 284.1 283.7
8 Rest of the world 3,131.0 3,223.9 3,484.7
9 Financial sectors 24,551.1 25,096.9 25,580.3
10 Monetary authority 629.4 641.5 652.1
11 Commercial banking 5,614.9 5,673.6 5,829.1
12 U.S. chartered banks 5,003.9 5,055.6 5,198.1
13 Foreign banking
offices in United
States 516.9 519.0 517.9
14 Bank holding compames 27.8 33.0 42.9
15 Banks in US, affiliated
areas 66.3 66.1 70.3
16 Savings institutions 1,166.8 1,214.4 1,238.8
17 Credit unions 463.9 473.2 494.2
18 Bank personal trusts
and estates 195.6 190.8 186.4
19 Life insurance companies 2,307.8 2,373.0 2,426.7
20 Other insurance companies 558.3 572.7 583.4
21 Private pension funds 700.5 702.3 712.2
22 State and local
govermnent retirement
funds 804.9 805.0 820.6
23 Money market mutual funds 1,511.6 1,485.5 1,480.3
24 Mutual funds 1,365.4 1,412.0 1,469.8
25 Closed-and funds 116.7 124.5 130.5
26 Government-sponsored
enterprises 2,320.9 2,382.0 2,419.0
27 Federally related
mortgage pools 3,158.2 3,226.3 3,289.0
28 Asset-backed securities
(ABSs) issuers 2,097.8 2,162.8 2,231.0
29 Finance companies 867.6 861.1 879.2
30 Mortgage companies 32.1 32.1 32.1
31 Real estate investment
trusts (REITS) 65.6 63.5 71.2
32 Brokers and dealers 344.4 390.9 340.2
33 Funding corporations 167.2 236.2 225.5
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 31,614.9 32,143.9 32,877.5
Other liabilities
35 Official foreign exchange 55.8 57.6 58.9
36 Special drawing rights
certificates 2.2 2.2 2.2
37 Treasury currency 25.5 25.6 26.0
38 Foreign deposits 874.9 856.5 876.1
39 Net interbank
liabilities 205.9 175.5 155.6
40 Checkable deposits
and currency 1,646.7 1,680.4 1,703.5
41 Small time and savings
deposits 3,398.7 3,502.5 3,575.0
42 Large time deposits 1,171.5 1,209.1 1,222.4
43 Money market fund shares 2,223.9 2,156.2 2,120.8
44 Security repurchase
agreement 1,336.8 1,323.1 1,453.5
45 Mutual fund but 3,639.4 3,591.0 4,072.6
46 Security credit 738.8 796.6 957.4
47 Life insurance reserves 920.9 941.2 975.2
48 Pension fund reserves 8,005.7 7,923.8 8,562.9
49 Trade payables 2,820.1 2,834.2 2,874.4
50 Taxes payable 278.8 298.6 306.4
51 Investment in bank
personal trusts 840.9 806.3 858.4
52 Miscellaneous 11,704.3 11,952.4 11,837.6
53 Total liabilities 71,505.6 72,276.6 74,516.6
Financial assets
not included in
liabilities (-)
54 Gold and special
drawing rights 23.2 22.4 22.8
55 Corporate equities 51.6 11.8 75.2
56 Household equity
noncorporate business 5,020.1 5,169.5 5,105.0
Liabilities not
identified as
assets (-)
57 Treasury currency -9.1 -9.2 -9.1
58 Foreign deposits 675.9 658.3 686.5
59 Net interbank
transactions 15.3 19.3 6.9
60 Security repurchase
agreements 356.2 397.6 477.1
61 Taxes payable 154.9 144.8 152.4
62 Miscellaneous -3,516.0 -3.520.5 -3,787.7
Floats not included
in assets (-)
63 Federal government
checkable deposits -11.7 27.4 -17.1
64 Other cheekabledeposits 35.9 34.2 40.1
65 Trade credit 96.4 47.1 19.7
66 Totals identified to
sectors as assets 89,717.7 94,422.0
(1.) Data in this table also appear in the Board's Z. 1 (780)
quarterly Statistical release, tables L.1 and L.5. For ordering
address, see inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION (1)
Seasonally adjusted
2002 2003
Series
Q3 Q4 Q1 Q2 (r)
Output (1997)=100)
1 Total industry 111.4 110.4 110.5 109.4
2 Manufacturing 112.3 111.2 111.0 110.3
3 Manufacturing (NAICS) 112.6 111.5 111.3 110.4
4 Durable manufacturing 122.3 121.4 121.2 120.2
5 Primary metal 85.9 86.0 83.9 80.1
6 Fabricated metal products 99.5 98.9 97.1 95.3
7 Machinery 88.7 86.7 87.2 87.8
8 Computer and
electronic products 222.6 224.4 227.8 231.9
9 Electrical equipment,
appliances, and
component 97.7 96.8 95.7 94.8
10 Motor vehicles and
part 121.7 120.0 120.5 116.7
11 Aerospace and
miscellaneous
transportation
equipment 85.9 85.1 85.8 86.3
12 Nondurable manufacturing 100.1 98.8 98.5 97.7
13 Food, beverage, and
tobacco products 100.1 98.8 98.3 98.3
14 Textile and product
mills 82.9 81.2 79.1 77.1
15 Paper 95.7 95.8 93.5 93.6
16 Petroleum and coal
products 102.3 102.8 102.5 102.4
17 Chemical 106.4 104.1 105.4 105.0
18 Plastics and rubber
products 107.3 105.6 105.3 104.1
19 Other manufacturing
(non-NAICS) 106.0 106.0 107.0 107.7
20 Mining 93.5 93.7 93.1 92.9
21 Electric and gas utilities 112.5 111.5 114.3 110.2
MEMOS
22 Computers, communications
equipment, and
semiconductors 295.5 300.4 306.4 316.1
23 Total excluding computers,
communications equipment,
and semiconductors 101.3 100.3 100.3 99.1
24 Manufacturing excluding
computers,communications
equipment, and
semiconductors 100.5 99.4 99.1 98.2
2002 2003
Series
Q3 Q4 Q1 Q2
Capacity (percent of 1997
output)
1 Total industry 146.2 146.6 147.0 147.4
2 Manufacturing 151.1 151.4 151.7 152.0
3 Manufacturing (NAICS) 152.5 152.8 153.2 153.6
4 Durable manufacturing 173.4 174.2 175.0 176.0
5 Primary metal 111.4 110.8 110.7 110.8
6 Fabricated metal products 139.4 139.6 139.8 139.9
7 Machinery 129.9 129.9 129.8 129.6
8 Computer and
electronic products 355.4 360.3 365.9 372.1
9 Electrical equipment,
appliances, and
component 128.6 128.2 128.0 127.8
10 Motor vehicles and
part 147.1 148.4 149.9 151.4
11 Aerospace and
miscellaneous
transportation
equipment 145.3 145.1 145.1 145.1
12 Nondurable manufacturing 127.5 127.3 127.2 127.1
13 Food, beverage, and
tobacco products 125.7 125.6 125.5 125.2
14 Textile and product
mills 111.7 111.1 110.6 110.0
15 Paper 114.0 113.8 113.5 113.2
16 Petroleum and coal
products 115.2 115.7 116.1 116.5
17 Chemical 141.2 141.3 141.5 141.7
18 Plastics and rubber
products 133.6 132.9 132.4 131.6
19 Other manufacturing
(non-NAICS) 129.5 128.7 128.2 127.8
20 Mining 110.1 110.2 110.3 110.4
21 Electric and gas utilities 127.6 129.7 131.5 133.1
MEMOS
22 Computers, communications
equipment, and
semiconductors 475.3 483.3 493.3 504.9
23 Total excluding computers,
communications equipment,
and semiconductors 130.5 130.6 130.8 131.1
24 Manufacturing excluding
computers,communications
equipment, and
semiconductors 132.6 132.6 132.6 132.7
2002 2003
Series
Q3 Q4 Q1 Q2 (r)
Capacity utilization rate
[(percent).sup.2]
1 Total industry 76.2 75.3 75.1 74.2
2 Manufacturing 74.3 73.5 73.2 72.6
3 Manufacturing (NAICS) 73.8 73.0 72.6 71.9
4 Durable manufacturing 70.5 69.7 69.3 68.3
5 Primary metal 77.1 77.6 75.8 72.2
6 Fabricated metal products 71.3 70.8 69.4 68.1
7 Machinery 68.1 66.7 67.2 67.7
8 Computer and
electronic products 62.6 62.3 62.3 62.3
9 Electrical equipment,
appliances, and
component 75.9 75.5 74.7 74.2
10 Motor vehicles and
part 82.7 80.8 80.4 77.0
11 Aerospace and
miscellaneous
transportation
equipment 59.1 58.7 59.1 59.5
12 Nondurable manufacturing 78.5 77.6 77.4 76.9
13 Food, beverage, and
tobacco products 79.7 78.7 78.3 78.5
14 Textile and product
mills 74.2 73.1 71.5 70.1
15 Paper 84.0 84.2 82.4 82.7
16 Petroleum and coal
products 88.7 88.9 88.3 87.8
17 Chemical 75.3 73.7 74.5 74.1
18 Plastics and rubber
products 80.4 79.4 79.5 79.1
19 Other manufacturing
(non-NAICS) 81.8 82.3 83.4 84.3
20 Mining 84.9 85.1 84.4 84.1
21 Electric and gas utilities 88.2 86.0 86.9 82.8
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.2 62.2 62.1 62.6
23 Total excluding computers,
communications equipment,
and semiconductors 77.6 76.8 76.6 75.6
24 Manufacturing excluding
computers,communications
equipment, and
semiconductors 75.8 75.0 74.7 74.0
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION (1)
Seasonally adjusted
Latest
Previous cycle
1973 1975 cycle (3) (4)
Series High Low High Low High
Capacity utilization rate
(percent) (2)
1 Total industry 88.8 74.0 86.6 70.8 85.1
2 Manufacturing 88.0 71.6 86.3 68.6 85.5
3 Manufacturing (NAICS) 88.1 71.4 86.3 67.9 85.5
4 Durable manufacturing 88.9 69.6 87.8 63.1 84.5
5 Primary metal 100.9 68.9 91.3 47.2 95.3
6 Fabricated metal
products 91.8 69.6 83.1 61.7 80.1
7 Machinery 94.2 74.2 92.8 58.3 84.7
8 Computer and
electronic product 87.0 66.9 89.8 77.3 81.5
9 Electrical equipment,
appliances, and
components 99.3 68.5 91.9 64.4 87.5
10 Motor vehicles and
parts 95.3 55.3 96.2 45.2 90.0
11 Aerospace and
miscellaneous
transportation
equipment 75.0 66.3 84.6 69.8 88.9
12 Nondurable
manufacturing 87.5 72.5 85.7 75.6 86.9
13 Food, beverage, and
tobacco products 85.9 78.0 84.3 80.2 85.5
14 Textile and product
mills 89.8 62.8 90.1 72.3 91.1
15 Paper 97.4 74.7 95.6 81.3 94.0
16 Petroleum and coal
products 93.2 81.0 92.3 71.1 88.9
17 Chemical 85.0 68.9 83.0 67.9 85.6
18 Plastics and rubber
products 96.3 61.6 90.5 70.5 91.2
19 Other manufacturing (non-
NAICS) 85.7 75.7 88.1 85.7 90.2
20 Mining 93.6 87.6 94.2 78.6 85.6
21 Electric and gas utilities 96.2 82.7 87.9 77.2 92.6
MEMOS
22 Computers, communications
equipment, and
semiconductors 84.5 63.1 89.9 75.6 80.4
23 Total excluding computers,
communications equipment,
and semiconductors 89.1 74.3 86.6 70.5 85.5
24 Manufacturing excluding
computers communications
equipment, and
semiconductors 88.3 71.9 86.3 68.1 86.1
Latest
cycle
(4) 2002 2003
Series Low Aug. Mar. Apr. May (r)
Capacity utilization rate
(percent) (2)
1 Total industry 78.6 76.1 74.8 74.3 74.3
2 Manufacturing 77.2 74.3 73.1 72.5 72.5
3 Manufacturing (NAICS) 77.0 73.9 72.4 71.8 71.9
4 Durable manufacturing 73.4 70.8 68.7 68.2 68.3
5 Primary metal 75.2 78.7 73.5 72.1 72.0
6 Fabricated metal
products 71.0 71.2 68.8 68.4 68.1
7 Machinery 72.9 68.8 67.4 67.3 67.8
8 Computer and
electronic product 76.4 62.7 62.3 62.1 62.4
9 Electrical equipment,
appliances, and
components 75.0 76.2 74.4 73.4 74.7
10 Motor vehicles and
parts 56.6 82.9 78.7 77.4 76.3
11 Aerospace and
miscellaneous
transportation
equipment 81.9 59.4 59.1 59.2 59.8
12 Nondurable
manufacturing 81.8 78.4 77.6 76.9 77.0
13 Food, beverage, and
tobacco products 81.3 79.6 78.3 78.1 78.5
14 Textile and product
mills 77.1 73.9 72.2 70.7 70.0
15 Paper 85.4 84.0 83.4 82.1 83.0
16 Petroleum and coal
products 82.5 89.2 89.3 87.9 89.2
17 Chemical 80.8 75.2 74.8 74.7 73.7
18 Plastics and rubber
products 77.1 80.3 79.9 78.5 79.6
19 Other manufacturing (non-
NAICS) 79.1 81.7 84.5 83.9 84.0
20 Mining 83.3 85.3 84.1 84.2 83.9
21 Electric and gas utilities 84.2 86.5 84.6 84.5 83.4
MEMOS
22 Computers, communications
equipment, and
semiconductors 74.6 62.4 62.4 62.4 62.5
23 Total excluding computers,
communications equipment,
and semiconductors 78.8 77.6 76.2 75.7 75.6
24 Manufacturing excluding
computers communications
equipment, and
semiconductors 77.3 75.9 74.5 73.9 74.0
2003
Series June (r) July (r) Aug. (p)
Capacity utilization rate
(percent) (2)
1 Total industry 74.1 74.6 74.6
2 Manufacturing 72.6 72.0 72.7
3 Manufacturing (NAICS) 71.9 72.2 72.1
4 Durable manufacturing 68.4 69.0 68.8
5 Primary metal 72.7 73.3 70.9
6 Fabricated metal
products 67.8 68.3 68.1
7 Machinery 68.0 67.3 67.7
8 Computer and
electronic product 62.5 63.1 64.0
9 Electrical equipment,
appliances, and
components 74.5 75.0 75.2
10 Motor vehicles and
parts 77.3 79.6 77.3
11 Aerospace and
miscellaneous
transportation
equipment 59.5 59.8 60.1
12 Nondurable
manufacturing 76.9 76.9 76.9
13 Food, beverage, and
tobacco products 78.8 78.6 78.6
14 Textile and product
mills 69.6 68.7 68.0
15 Paper 83.1 83.6 83.9
16 Petroleum and coal
products 86.3 87.4 88.5
17 Chemical 73.9 74.0 73.9
18 Plastics and rubber
products 79.3 80.0 80.0
19 Other manufacturing (non-
NAICS) 85.0 83.8 83.5
20 Mining 84.3 84.5 84.6
21 Electric and gas utilities 80.4 83.2 94.4
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.9 63.4 64.3
23 Total excluding computers,
communications equipment,
and semiconductors 75.4 75.9 75.8
24 Manufacturing excluding
computers communications
equipment, and
semiconductors 74.1 74.3 74.1
Note. The statistics in the G.17 release cover output, capacity, and
capacity utilization in the industrial sector, which the Federal
Reserve defines are manufacturing, mining, and electric and gas
utilities. Manufacturing consists of those industries included in the
North American Industry Classification System, or NAICS, manufacturing
plus those industries--logging and newspaper, periodical, book, and
directory publishing--that have traditionally been considered
manufacturing and included in the industrial sector.
(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 December 2002. The recent annual
revision is described in the April 2003 issue of the Bulletin.
(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.) Monthly highs, 1978-80; monthly lows. 1982.
(4.) Monthly highs, 1988-89; monthly lows. 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
2002
pro- 2002
por- 2002
Group tion avg. Aug. Sept.
Index (1997=100)
MAJOR MARKETS
1 Total IP 100.0 110.5 111.3 111.2
Market groups
2 Final products and
nonindustrial supplies 99.8 109.3 109.8 109.8
3 Consumer goods 30.5 107.5 107.8 107.9
4 Durable 7.5 117.3 119.3 118.7
5 Automotive products 4.3 125.4 130.6 129.3
6 Home electronics 0.3 142.9 135.4 142.6
7 Appliances,
furniture,
carpeting 1.3 106.9 104.5 104.6
8 Miscellaneous goods 1.6 98.5 98.3 97.8
9 Nondurable 22.9 104.1 103.8 104.2
10 Non-energy 19.0 112.6 102.4 102.6
11 Foods and tobacco 10.3 99.5 99.2 99.1
12 Clothing 1.0 72.4 71.3 72.1
13 Chemical products 4.8 119.1 119.0 119.5
14 Paper products 2.3 108.1 108.4 109.8
15 Energy 4.0 112.0 111.6 112.8
16 Business equipment 9.7 107.3 108.1 106.9
17 Transit 1.7 81.2 81.1 79.7
18 Information processing 3.1 153.8 153.7 192.1
19 Industrial and other 4.9 91.5 92.9 92.0
20 Defense and space
equipment 2.2 101.2 101.9 102.0
21 Construction supplies 6.8 104.0 104.8 104.5
22 Business supplies 10.3 121.9 122.6 123.6
23 Materials 40.2 112.2 113.6 113.4
24 Non-energy 30.5 115.8 117.3 117.2
25 Durable 18.6 128.0 130.0 129.5
26 Consumer parts 4.2 110.8 112.3 112.4
27 Equipment park 5.9 182.6 186.3 185.7
28 Other 8.4 97.1 98.3 97.7
29 Nondurable 11.9 97.0 98.2 98.3
30 Textile 0.8 77.6 77.8 78.4
31 Paper 3.0 94.8 96.1 96.7
32 Chemical 4.2 99.1 100.7 100.2
33 Energy 9.7 98.7 99.3 99.1
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 94.7 100.5 101.2 101.2
35 Total excluding motor
vehicles and parts 92.9 110.0 110.5 110.5
Gross value (billions of 1996
dollars, annual rates)
36 Final product and
nonindustrial supplies 59.8 2,801.4 2,822.7 2,818.9
37 Final products 42.7 2,022.5 2,339.1 2,032.4
38 Consumer goods 30.5 1,386.5 1,396.0 1,394.3
39 Equipment total 12.2 626.9 634.6 628.7
40 Nonindustrial supplies 17.1 778.9 783.6 786.7
2002 2003
Group Oct. Nov. Dec. Jan.
Index (1997=100)
MAJOR MARKETS
1 Total IP 110.6 110.8 109.9 110.7
Market groups
2 Final products and
nonindustrial supplies 109.1 109.3 108.2 109.1
3 Consumer goods 107.0 107.8 106.6 107.7
4 Durable 117.0 121.0 117.8 120.5
5 Automotive products 125.9 132.4 125.9 131.3
6 Home electronics 140.1 142.1 145.7 152.7
7 Appliances,
furniture,
carpeting 104.9 107.1 107.7 105.4
8 Miscellaneous goods 98.2 98.3 98.7 98.7
9 Nondurable 103.6 103.3 102.8 103.4
10 Non-energy 102.0 101.3 100.8 101.1
11 Foods and tobacco 98.7 97.9 97.4 97.6
12 Clothing 70.2 70.6 69.9 69.7
13 Chemical products 118.3 118.0 116.9 117.9
14 Paper products 110.0 108.8 109.0 108.3
15 Energy 111.8 114.0 113.3 115.7
16 Business equipment 106.0 106.1 104.6 105.6
17 Transit 77.3 77.9 75.4 75.7
18 Information processing 153.1 152.8 152.7 155.1
19 Industrial and other 91.2 91.1 89.7 90.4
20 Defense and space
equipment 102.5 101.7 102.3 104.1
21 Construction supplies 104.2 103.8 102.4 102.3
22 Business supplies 123.1 122.5 121.9 122.8
23 Materials 112.8 113.1 112.4 113.0
24 Non-energy 116.7 116.7 115.6 116.0
25 Durable 129.5 129.7 128.1 129.1
26 Consumer parts 111.7 114.6 111.1 113.8
27 Equipment park 185.7 185.3 184.4 186.0
28 Other 98.0 97.2 96.4 96.3
29 Nondurable 97.1 97.0 96.5 96.2
30 Textile 77.2 77.0 75.3 74.1
31 Paper 96.8 96.9 95.8 94.4
32 Chemical 98.2 97.9 97.3 98.3
33 Energy 98.4 99.4 99.7 100.9
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 100.5 100.6 99.8 100.5
35 Total excluding motor
vehicles and parts 110.0 109.8 109.3 109.8
Gross value (billions of 1996
dollars, annual rates)
36 Final product and
nonindustrial supplies 2,794.7 2,817.8 2,783.5 2,808.6
37 Final products 2,011.7 2,037.3 2,010.7 2,032.1
38 Consumer goods 1,379,2 1,402.0 1,384.1 1,399.9
39 Equipment total 623.5 624.4 615.8 620.9
40 Nonindustrial supplies 781.3 780.5 772.8 776.4
2003
Group Feb. Mar. Apr. May (r)
Index (1997=100)
MAJOR MARKETS
1 Total IP 110.7 110.1 109.5 109.5
Market groups
2 Final products and
nonindustrial supplies 109.3 108.7 108.2 108.4
3 Consumer goods 107.8 107.2 106.8 106.7
4 Durable 118.5 117.9 116.9 116.6
5 Automotive products 128.8 127.4 125.9 124.3
6 Home electronics 145.9 152.0 154.7 152.5
7 Appliances,
furniture,
carpeting 105.5 105.7 106.0 108.6
8 Miscellaneous goods 96.9 96.2 94.9 95.4
9 Nondurable 104.1 103.6 103.3 103.2
10 Non-energy 101.6 101.7 101.3 101.3
11 Foods and tobacco 97.2 97.2 97.0 97.4
12 Clothing 69.1 68.0 66.1 65.9
13 Chemical products 120.2 120.6 120.8 119.8
14 Paper products 110.2 111.0 110.0 110.3
15 Energy 117.2 113.8 113.9 113.4
16 Business equipment 105.9 105.5 104.8 105.1
17 Transit 74.5 73.9 73.9 73.5
18 Information processing 156.3 158.0 156.6 157.7
19 Industrial and other 90.8 89.9 89.2 89.4
20 Defense and space
equipment 104.8 105.2 104.7 106.3
21 Construction supplies 101.8 101.4 101.0 101.5
22 Business supplies 123.7 122.5 121.3 121.8
23 Materials 112.8 112.1 111.4 111.1
24 Non-energy 115.9 115.4 114.5 114.4
25 Durable 128.6 127.6 126.6 127.0
26 Consumer parts 111.9 110.9 110.5 109.5
27 Equipment park 186.2 186.2 186.3 118.1
28 Other 96.3 95.0 93.6 93.9
29 Nondurable 96.4 96.7 95.9 95.3
30 Textile 74.2 73.8 72.2 70.7
31 Paper 93.6 94.8 92.8 93.5
32 Chemical 99.2 99.3 99.3 96.7
33 Energy 100.8 99.2 99.2 98.6
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 100.5 99.8 99.2 99.1
35 Total excluding motor
vehicles and parts 110.1 109.5 108.9 109.0
Gross value (billions of 1996
dollars, annual rates)
36 Final product and
nonindustrial supplies 2,807.2 2,791.9 2,777.2 2,780.7
37 Final products 2,028.9 2,019.7 2,011.2 2,010.8
38 Consumer goods 1,395.8 1,388.6 1,382.6 1,380.3
39 Equipment total 622.5 620.9 618.4 621.1
40 Nonindustrial supplies 778.3 772.0 765.7 769.8
2003
Group June (r) July (r) Aug. (p)
Index (1997=100)
MAJOR MARKETS
1 Total IP 109.3 110.1 110.2
Market groups
2 Final products and
nonindustrial supplies 108.3 108.8 108.9
3 Consumer goods 106.6 107.2 107.1
4 Durable 117.7 120.3 118.7
5 Automotive products 126.9 131.8 129.1
6 Home electronics 153.8 153.3 156.7
7 Appliances,
furniture,
carpeting 107.5 108.1 108.1
8 Miscellaneous goods 95.2 94.3 93.5
9 Nondurable 102.9 102.9 103.1
10 Non-energy 101.7 101.0 100.8
11 Foods and tobacco 97.6 97.2 97.0
12 Clothing 64.1 62.8 61.5
13 Chemical products 121.5 120.2 120.2
14 Paper products 111.6 110.1 109.8
15 Energy 109.1 113.1 115.5
16 Business equipment 105.4 105.7 106.3
17 Transit 73.1 73.5 72.2
18 Information processing 158.2 159.2 162.4
19 Industrial and other 90.0 90.0 90.3
20 Defense and space
equipment 106.7 107.2 108.6
21 Construction supplies 101.4 101.6 101.9
22 Business supplies 120.9 121.7 122.2
23 Materials 110.9 112.1 112.1
24 Non-energy 114.5 115.3 115.0
25 Durable 127.3 128.8 128.2
26 Consumer parts 110.0 112.4 110.4
27 Equipment park 189.3 191.6 193.2
28 Other 93.8 94.4 93.7
29 Nondurable 95.0 95.0 95.1
30 Textile 70.1 68.2 67.7
31 Paper 92.9 93.5 93.7
32 Chemical 95.9 96.9 96.9
33 Energy 97.7 99.8 100.4
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 98.9 99.6 99.5
35 Total excluding motor
vehicles and parts 108.7 109.3 109.6
Gross value (billions of 1996
dollars, annual rates)
36 Final product and
nonindustrial supplies 2,773.3 2,799.3 2,801.2
37 Final products 2,009.9 2,030.1 2,028.6
38 Consumer goods 1,377.7 1,394.4 1,391.5
39 Equipment total 623.6 625.8 628.1
40 Nonindustrial supplies 763.1 768.8 772.4
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
2002
pro- 2002
NAICS por- 2003
Group code (2) tion avg. Aug.
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing ... 84.6 111.4 112.4
42 Manufacturing (NAICS) ... 79.3 111.7 112.8
43 Durable manufacturing ... 43.4 121.1 122.7
44 Wood products 321 1.4 100.5 102.5
45 Nonntetellic mineral
products 327 2.5 107.9 108.5
46 Primary metal 331 2.5 85.6 87.6
47 Fabricated metal
products 332 6.1 99.0 99.3
48 Machinery 333 5.3 87.9 89.4
49 Computer and
electronic
products 334 8.1 220.4 223.0
50 Electrical
equipment,
appliances, and
components 335 2.4 97.7 98.0
51 Motor vehicles and
parts 3361-3 7.1 117.3 122.0
52 Aerospace and
miscellaneous
transportation
equipment 3364-9 3.3 87.6 86.3
53 Furniture and
related
products 337 1.7 101.3 100.5
54 Miscellaneous 339 3.1 109.5 110.2
55 Nondurable
manufacturing ... 35.9 99.5 100.0
56 Food, beverage, and
tobacco products 311,2 11.7 100.2 100.0
57 Textile unit product
mills 313,4 1.3 82.5 82.5
58 Apparel and leather 315,6 1.1 72.2 71.2
59 Paper 322 3.1 94.4 95.8
60 Printing and support 323 2.7 97.8 98.6
61 Petroleum and coal
products 324 1.9 102.9 102.7
62 Chemical 325 10.2 105.1 106.2
63 Plastics and rubber
products 326 3.9 106.0 107.3
64 Other manufacturing
(non-NAICS) 1133,5111 5.3 105.5 105.8
65 Mining 21 6.0 93.8 93.9
66 Utilities 2211,2 9.3 110.2 110.4
67 Electric 2211 8.1 111.8 112.2
68 Natural gas 2212 1.3 97.5 108.8
69 Manufacturing excluding
computers, communica-
tions equipment, and
semiconductors ... 79.3 99.8 100.6
70 Manufacturing excluding
motor vehicles and parts ... 77.5 110.9 111.5
2002 2003
Group Sept. Oct. Nov. Dec. Jan.
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 112.1 111.4 111.6 110.6 111.1
42 Manufacturing (NAICS) 112.4 111.7 112.0 110.8 111.5
43 Durable manufacturing 122.0 121.5 122.2 120.5 121.9
44 Wood products 100.7 99.2 98.3 96.9 97.4
45 Nonntetellic mineral
products 109.8 109.3 110.2 108.0 109.7
46 Primary metal 85.0 87.6 86.2 84.1 85.0
47 Fabricated metal
products 99.4 99.8 98.7 98.3 97.9
48 Machinery 88.2 86.8 87.4 85.8 86.7
49 Computer and
electronic
products 232.2 224.2 224.5 224.5 226.6
50 Electrical
equipment,
appliances, and
components 96.5 96.6 97.0 96.9 95.7
51 Motor vehicles and
parts 121.1 118.3 123.9 117.8 122.9
52 Aerospace and
miscellaneous
transportation
equipment 85.7 85.5 84.8 85.2 86.0
53 Furniture and
related
products 101.4 100.7 100.6 98.9 98.8
54 Miscellaneous 109.1 109.3 108.6 110.0 109.5
55 Nondurable
manufacturing 100.0 99.1 98.9 98.3 98.2
56 Food, beverage, and
tobacco products 99.9 99.5 98.6 98.3 98.5
57 Textile unit product
mills 82.3 81.3 81.7 80.8 78.4
58 Apparel and leather 71.8 70.2 70.5 69.7 69.7
59 Paper 96.1 95.7 96.8 95.0 93.0
60 Printing and support 99.9 99.5 98.4 98.9 99.1
61 Petroleum and coal
products 101.0 99.4 103.9 105.0 102.0
62 Chemical 106.1 104.6 104.2 103.4 104.4
63 Plastics and rubber
products 107.2 106.4 105.8 104.6 104.9
64 Other manufacturing
(non-NAICS) 107.1 106.7 105.4 105.9 105.3
65 Mining 92.2 92.3 93.6 95.2 93.6
66 Utilities 113.3 112.1 112.1 110.5 115.0
67 Electric 115.8 113.7 113.3 112.2 116.8
68 Natural gas 99.9 103.6 105.8 101.6 105.4
69 Manufacturing excluding
computers, communica-
tions equipment, and
semiconductors 100.4 99.7 99.8 98.8 99.3
70 Manufacturing excluding
motor vehicles and parts 111.3 110.8 110.5 109.9 110.1
2003
Group Feb. Mar. Apr. May (r)
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 111.1 110.9 110.1 110.2
42 Manufacturing (NAICS) 111.3 111.0 110.2 110.4
43 Durable manufacturing 121.3 120.5 119.8 120.2
44 Wood products 96.5 95.9 95.7 95.7
45 Nonntetellic mineral
products 108.0 108.1 108.5 109.0
46 Primary metal 85.2 81.3 79.8 79.8
47 Fabricated metal
products 97.1 96.1 95.7 95.2
48 Machinery 87.4 87.5 87.2 87.9
49 Computer and
electronic
products 227.5 229.3 229.6 232.3
50 Electrical
equipment,
appliances, and
components 96.1 95.2 93.9 95.4
51 Motor vehicles and
parts 120.0 118.4 116.9 115.6
52 Aerospace and
miscellaneous
transportation
equipment 85.6 85.7 85.9 86.7
53 Furniture and
related
products 98.6 97.3 97.0 97.4
54 Miscellaneous 109.4 108.4 106.7 106.7
55 Nondurable
manufacturing 99.5 98.6 97.8 97.8
56 Food, beverage, and
tobacco products 98.2 98.2 97.9 98.3
57 Textile unit product
mills 79.2 79.7 77.9 77.0
58 Apparel and leather 69.0 68.0 66.1 65.9
59 Paper 93.0 94.6 93.0 93.9
60 Printing and support 97.7 96.3 94.8 94.5
61 Petroleum and coal
products 101.8 103.8 102.4 104.0
62 Chemical 106.0 105.8 105.7 104.4
63 Plastics and rubber
products 105.3 105.6 103.5 104.7
64 Other manufacturing
(non-NAICS) 107.5 108.1 107.3 107.3
65 Mining 92.8 92.8 93.0 92.7
66 Utilities 116.3 111.7 112.1 111.1
67 Electric 118.0 113.6 113.7 112.7
68 Natural gas 107.5 101.2 103.3 102.3
69 Manufacturing excluding
computers, communica-
tions equipment, and
semiconductors 99.2 98.9 98.1 98.2
70 Manufacturing excluding
motor vehicles and parts 110.3 110.2 109.5 109.8
2003
Group June (r) July (r) Aug. (p)
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 110.4 110.9 110.7
42 Manufacturing (NAICS) 110.5 111.1 111.0
43 Durable manufacturing 120.6 121.8 121.6
44 Wood products 96.5 98.2 98.2
45 Nonntetellic mineral
products 109.0 109.2 110.3
46 Primary metal 80.6 81.4 78.9
47 Fabricated metal
products 94.9 95.6 95.3
48 Machinery 88.1 87.2 87.6
49 Computer and
electronic
products 233.9 237.4 242.3
50 Electrical
equipment,
appliances, and
components 95.1 95.7 95.9
51 Motor vehicles and
parts 117.5 121.5 118.4
52 Aerospace and
miscellaneous
transportation
equipment 86.4 86.7 87.2
53 Furniture and
related
products 97.2 98.5 97.9
54 Miscellaneous 106.3 105.6 105.0
55 Nondurable
manufacturing 97.6 97.6 97.6
56 Food, beverage, and
tobacco products 98.6 98.3 98.2
57 Textile unit product
mills 76.5 75.4 74.4
58 Apparel and leather 64.1 63.0 61.7
59 Paper 93.9 94.4 94.6
60 Printing and support 94.2 93.6 93.4
61 Petroleum and coal
products 100.7 102.1 103.6
62 Chemical 104.8 105.0 104.8
63 Plastics and rubber
products 104.1 104.8 104.7
64 Other manufacturing
(non-NAICS) 108.5 106.8 106.4
65 Mining 93.1 93.4 93.5
66 Utilities 107.4 111.5 113.6
67 Electric 108.7 113.9 116.1
68 Natural gas 100.1 99.0 100.0
69 Manufacturing excluding
computers, communica-
tions equipment, and
semiconductors 98.3 98.6 98.3
70 Manufacturing excluding
motor vehicles and parts 109.8 110.0 110.1
Note. The statistics in the G.17 release cover output, capacity, and
capacity utilization in the industrial sector, which the Federal
Reserve defines are manufacturing, mining, and electric and gas
utilities. Manufacturing consists of those industries included in the
North American Industry Classification System, or NAICS, manufacturing
plus those industries--logging and newspaper, periodical, book, and
directory publishing--that have traditionally been considered
manufacturing and included in the industrial sector.
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2002. The recent annual
revision is described in the April 2003 issue of the Bulletin.
(2.) North American Industry Classification System.
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted except as
noted (1)
Item credits or debits 2000 2001 2002
1 Balance on current account -411,458 -393,745 -480,861
2 Balance on goods and
services -375,384 -357,819 -418,038
3 Exports 1,070,054 1,007,580 974,107
4 Imports -1,445,438 -1,365,399 -1,392,145
5 Income, net 19,605 10,689 -3,970
6 Investment net 24,191 15,701 1,271
7 Direct 94,929 106,485 93,475
8 Portfolio -70,738 -90,784 -92,204
9 Compensation of
employees -4,586 -5,012 -5,241
10 Unilateral current
transfers, net -55,679 -46,615 -58,853
11 Change in U.S. government
assets other than
official reserve assets,
net (increase, -) -941 -486 -32
12 Change in U.S. official
reserved assets
(increase, -) -290 -4,911 -3,681
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -722 -630 -475
15 Reserve position in
International Monetary
Fund 2,308 -3,600 -2,632
16 Foreign currencies -1,876 -681 -574
17 Change in U.S. private
assets abroad
(increase, -) -568,567 -344,542 -175,272
18 Bank-reported claims (2) -148,657 -134,945 -21,357
19 Nonbank-reported claims -138,790 -4,997 -31,880
20 U.S. purchase of foreign
securities, net -121,908 -84,637 15,801
21 U.S. direct investments
abroad, net -159,212 -119,963 -137,836
22 Change in foreign official
assets in United States
(increase, +) 37,724 5,104 94,860
23 U.S. Treasury securities -10,233 10,745 43,144
24 Other U.S. government
obligations 40,909 20,920 30,377
25 Other U.S. government
liabilities (2) -1,825 -2,309 137
26 Other U.S. liabilities
reported by U.S. banks
(2) 5,746 29,978 17,594
27 Other foreign official
assets (3) 3,127 5,726 3,608
28 Change in Foreign private
assets in United States
(increase, +) 988,415 760,427 612,123
29 U.S. bank-reported
liabilities (4) 116,971 118,379 91,126
30 U.S. nonbank-reported
liabilities 170,672 67,489 72,142
31 Foreign private
purchases of U.S.
Treasury securities,
net -76,949 -7,438 96,217
32 U.S. currency flows 1,129 23,783 21,513
33 Foreign purchases of
other U.S. securities,
net 455,318 406,633 291,492
34 Foreign direct
investments in United
States, net 321,274 151,581 39,633
35 Capital account
transactions, net (5) -799 -1,062 -1,285
36 Discrepancy -44,084 -20,785 -45,852
37 Due to seasonal
adjustment ... ... ...
38 Before seasonal
adjustment -44,094 -20,785 -45,852
MEMO
Changes in official assets
39 U.S. official reserve
assets (increase, -) -290 -4,911 -3,681
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 39,549 7,413 94,723
41 Change in Organization of
Petroleum Exporting
Countries official
assets in United States
(part of line 22) 12,000 -1,725 -8,132
2002
Item credits or debits Q2 Q3 Q4
1 Balance on current account -122,827 -122,724 -128,586
2 Balance on goods and
services -104,888 -104,980 -106,980
3 Exports 243,696 247,815 246,151
4 Imports -348,584 -354,795 -362,267
5 Income, net -4,458 -1,747 2,966
6 Investment net -3,106 -481 4,306
7 Direct 21,400 21,914 26,225
8 Portfolio -24,516 -22,395 -21,919
9 Compensation of
employees -1,352 -1,266 -1,340
10 Unilateral current
transfers, net -13,481 -13,997 -15,436
11 Change in U.S. government
assets other than
official reserve assets,
net (increase, -) 42 -27 -180
12 Change in U.S. official
reserved assets
(increase, -) 1,843 -1,416 -812
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -107 -132 -127
15 Reserve position in
International Monetary
Fund -1,607 -1,136 -541
16 Foreign currencies -129 -148 -144
17 Change in U.S. private
assets abroad
(increase, -) -126,766 31,155 -43,910
18 Bank-reported claims (2) -69,254 52,999 -4,954
19 Nonbank-reported claims -16,210 -11,862 -1,922
20 U.S. purchase of foreign
securities, net -5,843 21,641 -5,364
21 U.S. direct investments
abroad, net -35,459 -31,623 -31,670
22 Change in foreign official
assets in United States
(increase, +) 47,552 8,992 32,210
23 U.S. Treasury securities 15,138 1,415 27,630
24 Other U.S. government
obligations 6,568 10,885 5,628
25 Other U.S. government
liabilities (2) 365 464 -95
26 Other U.S. liabilities
reported by U.S. banks
(2) 24,575 -4,607 -2,094
27 Other foreign official
assets (3) 906 835 1,141
28 Change in Foreign private
assets in United States
(increase, +) 173,690 132,486 165,238
29 U.S. bank-reported
liabilities (4) 23,948 20,448 54,176
30 U.S. nonbank-reported
liabilities 24,610 -8,102 8,863
31 Foreign private
purchases of U.S.
Treasury securities,
net 14,218 57,505 12,705
32 U.S. currency flows 7,183 2,556 7,249
33 Foreign purchases of
other U.S. securities,
net 104,187 45,880 66,964
34 Foreign direct
investments in United
States, net -456 14,199 15,281
35 Capital account
transactions, net (5) -286 -364 -358
36 Discrepancy 30,438 -48,102 -23,602
37 Due to seasonal
adjustment 2,091 -12,409 1,744
38 Before seasonal
adjustment 28,347 -35,693 -25,346
MEMO
Changes in official assets
39 U.S. official reserve
assets (increase, -) -1,843 -1,416 -812
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 47,187 8,528 32,305
41 Change in Organization of
Petroleum Exporting
Countries official
assets in United States
(part of line 22) 838 -1,289 851
2003
Item credits or debits Q1 (r) Q2 (p)
1 Balance on current account -138,707 -138,671
2 Balance on goods and
services -121,629 -123,408
3 Exports 247,377 247,991
4 Imports -369,006 -371,399
5 Income, net 191 1,679
6 Investment net 1,567 2,984
7 Direct 22,077 22,823
8 Portfolio -20,510 -19,819
9 Compensation of
employees -1,376 -1,305
10 Unilateral current
transfers, net -17,269 -16,942
11 Change in U.S. government
assets other than
official reserve assets,
net (increase, -) -70 -323
12 Change in U.S. official
reserved assets
(increase, -) 83 -170
13 Gold 0 0
14 Special drawing rights
(SDRs) 897 -102
15 Reserve position in
International Monetary
Fund -644 86
16 Foreign currencies -170 -154
17 Change in U.S. private
assets abroad
(increase, -) -101,344 -106,172
18 Bank-reported claims (2) -27,795 -60,603
19 Nonbank-reported claims -11,998 -22,789
20 U.S. purchase of foreign
securities, net -27,146 9,240
21 U.S. direct investments
abroad, net -34,405 -32,020
22 Change in foreign official
assets in United States
(increase, +) 40,978 57,580
23 U.S. Treasury securities 22,288 33,232
24 Other U.S. government
obligations 9,480 3,290
25 Other U.S. government
liabilities (2) -437 -32
26 Other U.S. liabilities
reported by U.S. banks
(2) 8,321 20,385
27 Other foreign official
assets (3) 1,326 705
28 Change in Foreign private
assets in United States
(increase, +) 201,026 197,693
29 U.S. bank-reported
liabilities (4) 16,723 33,245
30 U.S. nonbank-reported
liabilities 74,848 3,189
31 Foreign private
purchases of U.S.
Treasury securities,
net 14,568 61,139
32 U.S. currency flows 4,927 1,458
33 Foreign purchases of
other U.S. securities,
net 55,574 86,525
34 Foreign direct
investments in United
States, net 34,386 12,137
35 Capital account
transactions, net (5) -388 -325
36 Discrepancy -1,578 -9,612
37 Due to seasonal
adjustment 9,479 702
38 Before seasonal
adjustment -11,057 -10,314
MEMO
Changes in official assets
39 U.S. official reserve
assets (increase, -) 83 -170
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 41,415 57,612
41 Change in Organization of
Petroleum Exporting
Countries official
assets in United States
(part of line 22) ... ...
(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 on Current Business.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
2003
Asset 2000 2001 2002 Feb.
1 Total 67,647 68,654 79,006 78,579
2 Gold stock (1) 11,046 11,045 11,043 11,043
3 Special drawing rights (2,3) 10,539 10,774 12,166 11,368
4 Reserve position in
International Monetary
Fund (2) 14,824 17,854 21,979 21,686
5 Foreign currencies (4) 31,239 28,981 33,818 34,482
2003
Asset Mar. Apr. May June
1 Total 80,049 80,405 82,287 81,660
2 Gold stock (1) 11,043 11,043 11,044 11,044
3 Special drawing rights (2,3) 11,392 11,476 11,880 11,720
4 Reserve position in
International Monetary
Fund (2) 22,858 22,738 23,214 23,210
5 Foreign currencies (4) 34,756 35,148 36,149 35,686
2003
Asset July Aug. Sept. (p)
1 Total 80,620 80,422 84,431
2 Gold stock (1) 11,043 11,043 11,043
3 Special drawing rights (2,3) 11,646 11,619 12,062
4 Reserve position in
International Monetary
Fund (2) 22,746 22,463 24,067
5 Foreign currencies (4) 35,185 35,297 37,259
(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
userd. U.S. SDR holdings and reserve positions in the IMF also have
been valued on the 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;
1981--$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
2003
Asset 2000 2001 2002 Feb.
1 Deposits 215 61 136 224
Held in custody
2 U.S. Treasury securities (2) 594,094 592,630 678,106 700,341
3 Earmarked gold (3) 9,451 9,099 9,045 9,045
2003
Asset Mar. Apr. May June
1 Deposits 254 313 79 898
Held in custody
2 U.S. Treasury securities (2) 710,955 702,041 727,142 747,089
3 Earmarked gold (3) 9,045 9,040 9,031 9,004
2003
Asset July Aug. Sept. (r)
1 Deposits 318 81 803
Held in custody
2 U.S. Treasury securities (2) 743,308 754,469 765,940
3 Earmarked gold (3) 9,004 8,977 8,971
(1.) Excludes deposits and U.S. Treasury securities held for
international and regional organizations.
(2.) Marketable U.S. Treasury bills, notes, and bonds and nonmarketable
U.S. Treasury securities, in each case measured at face (not market)
value.
(3.) Held in foreign and international accounts and valued at $42.22
per fine troy ounce: not included in the gold stock of the United
States.
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2003
Item 2001 2002 Jan.
1 Total (1) 984,713 (r) 1,078,219 1,083,965
By type
2 Liabilities reported by
banks in the United
States (2) 120,571 (r) 144,080 140,071
3 U.S. Treasury bills and
certificates (3) 161,719 190,375 194,762
U.S. Treasury bonds and
notes
4 Marketable 454,306 464,115 464,427
5 Nonmarketable 3,411 2,769 2,786
6 U.S. securities other than
U.S. Treasury securities
(5) 244,706 276,880 281,919
By area
7 Europe (1) 243,307 (r) 271,250 269,290
8 Canada 13,440 11,120 10,496
9 Latin America and
Caribbean 71,103 63,022 61,794
10 Asia 632,466 (r) 704,126 715,996
11 Africa 15,167 15,338 14,589
12 Other countries 9,228 13,361 11,798
2003
Item Feb. Mar.
1 Total (1) 1,107,987 1,116,675 (r)
By type
2 Liabilities reported by
banks in the United
States (2) 151,605 149,443 (r)
3 U.S. Treasury bills and
certificates (3) 196,344 206,153 (r)
U.S. Treasury bonds and
notes
4 Marketable 469,520 470,572 (r)
5 Nonmarketable 2,903 2,821 (r)
6 U.S. securities other than
U.S. Treasury securities
(5) 287,985 287,686 (r)
By area
7 Europe (1) 281,471 276,924 (r)
8 Canada 9,837 10,154 (r)
9 Latin America and
Caribbean 62,998 62,743 (r)
10 Asia 725,120 740,799 (r)
11 Africa 15,939 15,215 (r)
12 Other countries 12,620 10,838 (r)
2003
Item Apr. May
1 Total (1) 1,114,979 (r) 1,165,946
By type
2 Liabilities reported by
banks in the United
States (2) 150,701 (r) 174,748
3 U.S. Treasury bills and
certificates (3) 200,462 (r) 210.033
U.S. Treasury bonds and
notes
4 Marketable 470,151 (r) 484,900
5 Nonmarketable 2,839 (r) 2,857
6 U.S. securities other than
U.S. Treasury securities
(5) 290,826 (r) 293,408
By area
7 Europe (1) 273,557 (r) 288,567
8 Canada 9,746 (r) 9,942
9 Latin America and
Caribbean 62,909 (r) 65,355
10 Asia 740,298 (r) 774,801
11 Africa 15,834 (r) 15,656
12 Other countries 12,633 (r) 11,623
2003
Item June July (p)
1 Total (1) 1,173,997 (r) 1,183,814
By type
2 Liabilities reported by
banks in the United
States (2) 169,538 (r) 170,061
3 U.S. Treasury bills and
certificates (3) 209,957 205,809
U.S. Treasury bonds and
notes
4 Marketable 499,945 513,030
5 Nonmarketable 2,876 2,894
6 U.S. securities other than
U.S. Treasury securities
(5) 291,681 292,020
By area
7 Europe (1) 279,405 280,628
8 Canada 9,998 9,791
9 Latin America and
Caribbean 71,097 (r) 73,228
10 Asia 782,656 (r) 790,345
11 Africa 15,829 15,788
12 Other countries 15,010 14,032
(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 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 Treasury by banks (including Federal Reserve Banks) and
securities dealers in the United States, and in periodic beachmark
surveys 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
2002
Item 1999 2000 2001 Sept.
1 Banks' own liabilities 88,537 77,779 79,363 81,719
2 Deposits n.a. n.a. n.a. n.a.
3 Other liabilities n.a. n.a. n.a. n.a.
4 Banks' own claims 67,365 56,912 74,640 82,647
5 Deposits 34,426 23,315 44,094 47,779
6 Other claims 32,939 33,597 30,546 34,868
7 Claims of banks' domestic
customers (2) 20,826 24,411 17,631 20,475
8 Deposits n.a. n.a. n.a. n.a.
9 Other claims n.a. n.a. n.a. n.a.
2002 2003
Item Dec. Mar. (r) June
1 Banks' own liabilities 80,543 98,566 74,441
2 Deposits n.a. 50,582 43,505
3 Other liabilities n.a. 37,984 30,936
4 Banks' own claims 71,724 81,239 90,927
5 Deposits 34,297 36,710 42,129
6 Other claims 37,437 44,529 49,798
7 Claims of banks' domestic
customers (2) 35,923 (r) 27,706 33,994
8 Deposits n.a. 5,065 4,742
9 Other claims n.a. 22,641 29,242
(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 2000 2001 2003
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,511,410 1,630,417 (r) 1,832,746
2 Banks' own liabilities 1,077,636 1,174,976 (r) 1,288,991
By type of liability
3 Deposits (2) 221,248 188,005 (r) 175,220
4 Other 171,401 194,680 (r) 246,568
5 Of which: repurchase
agreements (3) 0 151,071 (r) 190,134
6 Banks' custody
liabilities (4) 433,774 455,441 543,755
By type of liability
7 U.S. Treasury bills
and certificates
(5) 177,846 186,115 229,827
8 Other negotiable and
readily
transferable
instruments (6) 145,840 139,807 163,091
9 Of which:
negotiable time
certificates of
deposit held in
custody for
foreigners 34,217 20,440 25,821
10 Of which: short-
term agency
securities (7) 0 59,781 72,731
11 Other 110,088 129,519 150,837
12 Nonmonetary international
and regional
organizations (8) 12,543 10,830 13,467
13 Banks' own liabilities 12,140 10,169 12,362
14 Deposits (2) 6,287 3,791 5,769
15 Other 5,853 6,378 6,593
16 Banks' custody
liabilities (4) 403 661 1,105
17 U.S. Treasury bills and
certificates (5) 252 600 1,089
18 Other negotiable and
readily transferable
instruments (6) 149 61 16
19 Other 2 0 0
20 Official institutions (9) 297,603 282,290 (r) 334,455
21 Banks' own liabilities 96,989 80,970 (r) 93,884
22 Deposits (2) 39,525 21,987 (r) 20,733
23 Other 57,464 58,983 (r) 73,151
24 Banks' custody
liabilities (4) 200,614 201,320 240,571
25 U.S. Treasury bills and
certificates (5) 153,010 161,719 190,375
26 Other negotiable and
readily transferable
instruments (6) 47,366 38,531 50,132
27 Other 238 1,070 64
28 Banks (10) 972,932 1,052,626 (r) 1,176,534
29 Banks' own liabilities 821,306 914,034 (r) 981,645
30 Deposits (2) 82,426 68,218 (r) 56,020
31 Other 53,893 5,325 (r) 58,422
32 Banks' custody
liabilities (4) 151,626 138,592 194,889
33 U.S. Treasury bills and
certificates (5) 16,023 11,541 21,311
34 Other negotiable and
readily transferable
instruments (6) 36,036 24,059 46,770
35 Other 99,567 102,992 126,808
36 Other foreigners (11) 228,332 284,671 (r) 308,290
37 Banks' own liabilities 147,201 169,803 (r) 201,100
38 Deposits (2) 93,010 94,009 (r) 92,698
39 Other 54,191 75,794 (r) 108,402
40 Banks' custodial
liabilities 81,131 114,868 107,190
41 U.S. Treasury bills and
certificates (5) 8,561 12,255 17,052
42 Other negotiable and
readily transferable
instruments (6) 62,289 77,156 66,173
43 Other 10,281 25,457 23,965
MEMO
44 Own foreign offices (12) 684,987 792,291 867,203
2003
Item Jan. Feb. (r) Mar. (r)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,782,342 2,046,103 2,111,858
2 Banks' own liabilities 1,239,613 1,489,690 1,556,084
By type of liability
3 Deposits (2) 169,503 793,540 812,983
4 Other 267,627 696,150 743,101
5 Of which: repurchase
agreements (3) 208,959 306,051 339,673
6 Banks' custody
liabilities (4) 542,729 556,413 555,774
By type of liability
7 U.S. Treasury bills
and certificates
(5) 231,872 234,657 245,932
8 Other negotiable and
readily
transferable
instruments (6) 160,148 172,475 170,054
9 Of which:
negotiable time
certificates of
deposit held in
custody for
foreigners 25,448 28328 28,780
10 Of which: short-
term agency
securities (7) 67,427 75,354 73,988
11 Other 150,709 149,281 139,788
12 Nonmonetary international
and regional
organizations (8) 14,624 12,085 9,377
13 Banks' own liabilities 13,921 11,439 9,331
14 Deposits (2) 5,298 3,844 2,640
15 Other 8,623 7,595 6,691
16 Banks' custody
liabilities (4) 703 646 46
17 U.S. Treasury bills and
certificates (5) 687 621 4
18 Other negotiable and
readily transferable
instruments (6) 16 25 30
19 Other 0 0 12
20 Official institutions (9) 334,833 347,949 355,596
21 Banks' own liabilities 93,790 100,320 95,943
22 Deposits (2) 17,378 25,762 22,532
23 Other 76,412 74,558 73,411
24 Banks' custody
liabilities (4) 241,043 247,629 259,653
25 U.S. Treasury bills and
certificates (5) 194,762 196,344 206,153
26 Other negotiable and
readily transferable
instruments (6) 45,285 50,763 52,615
27 Other 996 522 885
28 Banks (10) 1,116,543 1,240,818 1,275,229
29 Banks' own liabilities 921,792 1,046,855 1,092,972
30 Deposits (2) 53,156 654,965 678,722
31 Other 66,153 391,890 414,250
32 Banks' custody
liabilities (4) 194,751 193,963 182,257
33 U.S. Treasury bills and
certificates (5) 20,244 18,171 20,715
34 Other negotiable and
readily transferable
instruments (6) 48,614 52,390 48,295
35 Other 125,893 123,402 113,247
36 Other foreigners (11) 316,342 445,251 471,656
37 Banks' own liabilities 210,110 331,076 357,838
38 Deposits (2) 93,671 108,969 109,089
39 Other 116,439 222,107 248,749
40 Banks' custodial
liabilities 106,232 114,175 113,818
41 U.S. Treasury bills and
certificates (5) 16,179 19,521 19,060
42 Other negotiable and
readily transferable
instruments (6) 66,233 69,297 69,114
43 Other 23,820 25,357 25,644
MEMO
44 Own foreign offices (12) 802,483 1,010,614 1,049,774
2003
Item Apr. May
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 2,176,528 (r) 2,201,176 (r)
2 Banks' own liabilities 1,610,113 (r) 1,612,078 (r)
By type of liability
3 Deposits (2) 828,057 (r) 812,186 (r)
4 Other 782,056 (r) 799,892 (r)
5 Of which: repurchase
agreements (3) 378,842 390,974
6 Banks' custody
liabilities (4) 566,415 (r) 589,098 (r)
By type of liability
7 U.S. Treasury bills
and certificates
(5) 242,661 (r) 252,088 (r)
8 Other negotiable and
readily
transferable
instruments (6) 180,034 (r) 195,085 (r)
9 Of which:
negotiable time
certificates of
deposit held in
custody for
foreigners 31,450 33,543
10 Of which: short-
term agency
securities (7) 77,063 (r) 85,337 (r)
11 Other 143,720 141,925
12 Nonmonetary international
and regional
organizations (8) 9,003 8,962
13 Banks' own liabilities 8,950 8,946
14 Deposits (2) 3,086 3,197
15 Other 5,864 5,749
16 Banks' custody
liabilities (4) 53 16
17 U.S. Treasury bills and
certificates (5) 33 3
18 Other negotiable and
readily transferable
instruments (6) 20 13
19 Other 0 0
20 Official institutions (9) 351,163 384,781
21 Banks' own liabilities 95,358 110,867
22 Deposits (2) 24,026 22,586
23 Other 71,332 88,281
24 Banks' custody
liabilities (4) 259,805 273,914
25 U.S. Treasury bills and
certificates (5) 200,462 210,033
26 Other negotiable and
readily transferable
instruments (6) 55,189 63,217
27 Other 154 664
28 Banks (10) 1,320,808 (r) 1,313,038 (r)
29 Banks' own liabilities 1,129,310 (r) 1,119,652 (r)
30 Deposits (2) 690,506 (r) 677,685 (r)
31 Other 438,804 (r) 441,967 (r)
32 Banks' custody
liabilities (4) 191,498 193,386
33 U.S. Treasury bills and
certificates (5) 21,989 20,269
34 Other negotiable and
readily transferable
instruments (6) 51,753 57,564
35 Other 117,756 115,553
36 Other foreigners (11) 495,554 (r) 494,395 (r)
37 Banks' own liabilities 376,495 (r) 372,613 (r)
38 Deposits (2) 110,439 (r) 108,718 (r)
39 Other 266,056 263,895 (r)
40 Banks' custodial
liabilities 119,059 (r) 121,782 (r)
41 U.S. Treasury bills and
certificates (5) 20,177 (r) 21,783 (r)
42 Other negotiable and
readily transferable
instruments (6) 73,072 (r) 74,291 (r)
43 Other 25,810 25,708
MEMO
44 Own foreign offices (12) 1,106,286 (r) 1,096,156 (r)
2003
Item June (r) July (p)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 2,204,628 2,272,846
2 Banks' own liabilities 1,599,273 1,677,669
By type of liability
3 Deposits (2) 853,125 867,369
4 Other 746,148 810,300
5 Of which: repurchase
agreements (3) 362,515 410,221
6 Banks' custody
liabilities (4) 605,355 595,177
By type of liability
7 U.S. Treasury bills
and certificates
(5) 251,555 249,347
8 Other negotiable and
readily
transferable
instruments (6) 206,514 205,129
9 Of which:
negotiable time
certificates of
deposit held in
custody for
foreigners 43,272 43,854
10 Of which: short-
term agency
securities (7) 82,404 81,069
11 Other 147,286 140,701
12 Nonmonetary international
and regional
organizations (8) 11,781 15,127
13 Banks' own liabilities 11,678 15,079
14 Deposits (2) 4,524 4,798
15 Other 7,154 10,281
16 Banks' custody
liabilities (4) 103 48
17 U.S. Treasury bills and
certificates (5) 13 13
18 Other negotiable and
readily transferable
instruments (6) 70 35
19 Other 20 0
20 Official institutions (9) 379,495 375,870
21 Banks' own liabilities 104,923 110,079
22 Deposits (2) 23,046 22,390
23 Other 81,877 87,685
24 Banks' custody
liabilities (4) 274,572 265,795
25 U.S. Treasury bills and
certificates (5) 209,957 205,809
26 Other negotiable and
readily transferable
instruments (6) 59,535 57,770
27 Other 5,080 2,216
28 Banks (10) 1,327,614 1,372,439
29 Banks' own liabilities 1,124,178 1,168,599
30 Deposits (2) 712,724 726,956
31 Other 411,454 441,643
32 Banks' custody
liabilities (4) 203,436 203,840
33 U.S. Treasury bills and
certificates (5) 20,342 22,917
34 Other negotiable and
readily transferable
instruments (6) 65,799 67,179
35 Other 117,295 113,744
36 Other foreigners (11) 485,738 509,410
37 Banks' own liabilities 358,494 383,916
38 Deposits (2) 112,831 113,225
39 Other 245,663 270,691
40 Banks' custodial
liabilities 127,244 125,494
41 U.S. Treasury bills and
certificates (5) 21,243 20,608
42 Other negotiable and
readily transferable
instruments (6) 81,110 80,145
43 Other 24,891 24,741
MEMO
44 Own foreign offices (12) 1,093,643 1,154,618
(1.) Reporting banks include all types of depository institutions as
well as some banks/financial holding companies and brokers and dealers.
Excludes bonds and notes of maturities longer than one year. Effective
February 2003, coverage is expanded to include liabilities of brokers
and dealers to affiliated foreign offices.
(2.) Non-negotiable deposits and brokerage balances.
(3.) Data available beginning January 2001.
(4.) Financial claims on residents of the United States, other than
long-term securities, held by or through reporting banks for foreign
customers. Effective February 2003, also includes loans to U.S.
residents in managed foreign offices of U.S. reporting institutions.
(5.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(6.) Principally bankers acceptances, commercial paper, negotiable
time certificates of deposit, and short-term agency securties.
(7.) Data available beginning January 2001.
(8.) Principally the International Bank for Reconstruction and
Development, the Inter-American Development Bank, and the Asian
Development Bank. Excludes "holdings of dollars" of the International
Monetary Fund.
(9.) Foreign central banks, foreign central governments, and the Bank
for International Settlements.
(10.) Excludes central banks, which are included in "Official
institutions." Includes positions with affiliated banking offices also
included in memo line (44) below.
(11.) As of February 2003, includes positions with affiliated
non-banking offices also included in memo line (44) below.
(12.) For U.S. banks, includes amounts owed to own foreign branches and
foreign subsidiaries consolidated in the 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
office, and to foreign branches, agencies, or wholly owned subsidiaries
of the head office or parent foreign bank. Effective February 2003,
includes amounts owed to affiliated foreign offices of U.S. brokers and
dealers.
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 2000 2001 2002
AREA OR COUNTRY
45 Total, all foreigners 1,511,410 1,630,417 (r) 1,832,746
46 Foreign countries 1,498,867 1,619,587 (r) 1,819,279
47 Europe 446,788 520,438 (r) 627,537
48 Austria 2,692 2,922 2,473
49 Belgium (13) 33,399 6,549 (r) 8,610
50 Denmark 3,000 3,618 (r) 4,880
51 Finland 1,411 1,446 1,693
52 France 37,833 49,056 39,636
53 Germany 35,519 22,318 (r) 34,394
54 Greece 2,011 2,307 2,975
55 Italy 5,072 6,215 (r) 4,826
56 Luxembourg (13) 0 16,667 (r) 28,623
57 Netherlands 7,047 12,363 (r) 10,705
58 Norway 2,305 3,727 18,867
59 Portugal 2,403 4,033 3,574
60 Russia 19,018 20,800 23,147
61 Spain 7,787 8,811 14,030
62 Sweden 6,497 3,375 4,654
63 Switzerland 74,635 66,382 (r) 131,489
64 Turkey 7,548 7,474 12,130
65 United Kingdom 167,757 204,107 (r) 181,840
66 Channel Islands and
Isle of Man (14) 0 36,024 (r) 45,728
67 Yugoslavia (5) 276 309 301
68 Other Europe and
other former
U.S.S.R. (16) 30,578 41,938 (r) 52,962
69 Canada 30,982 27,240 (r) 24,955
70 Latin America 120,141 118,025 107,042
71 Argentina 19,451 10,704 11,218
72 Brazil 10,852 14,169 10,037
73 Chile 5,892 4,939 6,064
74 Colombia 4,542 4,695 4,158
75 Ecuador 2,112 2,390 2,299
76 Guatemala 1,601 1,882 1,381
77 Mexico 32,166 39,871 36,149
78 Panama 4,240 3,610 3,845
79 Peru 1,427 1,359 1,363
80 Uruguay 3,003 3,172 2,806
81 Venezuela 24,730 24,974 21,883
82 Other Latin America
(17) 10,225 6,260 5,839
83 Caribbean 573,337 194,744 (r) 194,158
84 Bahamas 181,298 178,472 163,052
85 Bermuda 9,636 10,469 (r) 23,780
86 British West Indies
(18) 367,197 0 0
87 Cayman Island (18) 0 439,190 (r) 512,570
88 Cuba 90 88 91
89 Jamaica 794 1,182 829
90 Netherlands Antilles 5,428 3,264 5,001
91 Trinidad and Tobago 894 1,269 1,405
92 Other Caribbean (17) 0 12,113 (r) 11,341
93 Asia 305,554 290,923 (r) 318,048
China
94 Mainland 16,531 10,486 (r) 15,504
95 Taiwan 17,352 17,561 (r) 18,625
96 Hong Kong 26,462 26,003 (r) 33,032
97 India 4,530 3,676 (r) 7,951
98 Indonesia 8,514 12,383 14,109
99 Israel 8,053 7,870 7,231
100 Japan 150,415 154,887 (r) 161,329
101 Korea (South) 7,955 8,997 (r) 8,932
102 Philippines 2,316 1,772 1,793
103 Thailand 3,117 4,743 7,605
104 Middle Eastern oil-
exporting
countries (19) 23,763 18,095 (r) 16,364
105 Other 36,546 24,450 (r) 25,573
106 Africa 10,824 11,233 (r) 12,240
107 Egypt 2,621 2,778 2,652
108 Morocco 139 274 306
109 South Africa 1,010 711 (r) 1,114
110 Congo (formerly
Zaire) 4 4 2
111 Oil-exporting
countries (20) 4,052 4,377 4,370
112 Other 2,998 3,089 (r) 3,796
113 Other countries 11,341 5,681 (r) 11,388
114 Australia 10,070 5,037 (r) 9,332
115 New Zealand (21) 0 232 (r) 1,796
116 All other 1,271 412 260
117 Nonmonetary interna-
tional and regional
organizations 12,543 10,830 13,467
118 International (22) 11,270 9,331 11,282
119 Latin American
regional (23) 740 480 507
120 Other regional (24) 533 935 1,611
2003
Item Jan. Feb. (r) Mar. (r)
AREA OR COUNTRY
45 Total, all foreigners 1,782,342 2,046,103 2,111,858
46 Foreign countries 1,767,718 4,068,036 4,204,962
47 Europe 560,622 709,950 730,110
48 Austria 2,186 2,330 2,125
49 Belgium (13) 4,668 5,454 7,743
50 Denmark 6,497 6,603 6,751
51 Finland 2,583 1,861 845
52 France 36,731 39,682 39,886
53 Germany 31,977 39,695 43,698
54 Greece 3,205 2,925 2,019
55 Italy 4,421 4,814 4,984
56 Luxembourg (13) 30,538 36,005 32,933
57 Netherlands 10,550 16,259 13,710
58 Norway 17,723 10,936 14,163
59 Portugal 3,448 2,889 2,802
60 Russia 24,378 27,648 28,918
61 Spain 14,849 16,066 13,923
62 Sweden 3,767 4,006 4,611
63 Switzerland 105,350 119,474 114,471
64 Turkey 12,754 11,973 10,996
65 United Kingdom 168,426 280,193 305,077
66 Channel Islands and
Isle of Man (14) 26,327 23,068 21,772
67 Yugoslavia (5) 353 337 332
68 Other Europe and
other former
U.S.S.R. (16) 49,891 57,732 58,351
69 Canada 27,880 28,618 32,059
70 Latin America 106,106 104,360 105,098
71 Argentina 11,253 10,611 10,711
72 Brazil 10,586 11,004 12,168
73 Chile 5,591 5,808 5,714
74 Colombia 4,147 4,897 4,458
75 Ecuador 2,397 2,247 2,377
76 Guatemala 1,436 1,485 1,411
77 Mexico 36,888 35,000 36,376
78 Panama 3,972 4,172 3,735
79 Peru 1,364 1,368 1,340
80 Uruguay 2,681 2,480 2,772
81 Venezuela 19,951 19,634 18,250
82 Other Latin America
(17) 5,840 5,654 5,786
83 Caribbean 206,063 210,983 223,186
84 Bahamas 169,978 165,869 175,738
85 Bermuda 27,421 38,133 40,552
86 British West Indies
(18) 0 0 0
87 Cayman Island (18) 516,117 622,246 651,323
88 Cuba 93 207 91
89 Jamaica 883 855 1,000
90 Netherlands Antilles 6,329 4,535 4,432
91 Trinidad and Tobago 1,359 1,384 1,373
92 Other Caribbean (17) 11,057 11,814 11,913
93 Asia 318,865 320,107 326,222
China
94 Mainland 13,544 13,305 17,620
95 Taiwan 22,147 24,171 20,229
96 Hong Kong 36,777 35,816 32,991
97 India 8,074 8,944 8,683
98 Indonesia 12,858 12,419 11,943
99 Israel 9,638 10,226 11,807
100 Japan 162,110 166,425 175,245
101 Korea (South) 7,410 7,062 6,950
102 Philippines 1,364 1,536 1,774
103 Thailand 6,666 5,035 5,289
104 Middle Eastern oil-
exporting
countries (19) 15,176 12,198 9,858
105 Other 23,101 22,670 23,833
106 Africa 11,177 14,404 12,994
107 Egypt 2,494 3,624 3,549
108 Morocco 259 346 283
109 South Africa 725 2,406 1,807
110 Congo (formerly
Zaire) 3 5 3
111 Oil-exporting
countries (20) 4,126 4,552 3,987
112 Other 3,570 3,471 3,365
113 Other countries 9,831 11,536 9,576
114 Australia 8,237 9,120 6,842
115 New Zealand (21) 1,320 1,940 2,175
116 All other 274 476 559
117 Nonmonetary interna-
tional and regional
organizations 14,624 12,085 9,377
118 International (22) 12,859 10,217 7,955
119 Latin American
regional (23) 372 547 686
120 Other regional (24) 1,299 1,216 633
2003
Item Apr. (r) May (r) June
AREA OR COUNTRY
45 Total, all foreigners 2,176,528 2,201,176 2,204,628 (r)
46 Foreign countries 4,335,050 4,384,428 4,385,694 (r)
47 Europe 723,739 762,373 733,119 (r)
48 Austria 2,110 2,472 4,427
49 Belgium (13) 6,669 4,081 4,082
50 Denmark 5,088 7,091 5,040
51 Finland 1,007 2,291 2,159
52 France 41,281 46,728 44,871
53 Germany 42,498 44,155 45,825
54 Greece 1,397 1,634 2,096
55 Italy 6,435 5,940 6,766
56 Luxembourg (13) 36,774 38,558 37,615
57 Netherlands 15,207 16,066 15,522
58 Norway 13,866 15,479 14,985
59 Portugal 2,906 2,735 2,168
60 Russia 30,656 35,062 34,316
61 Spain 14,180 15,853 11,973
62 Sweden 6,816 6,309 5,731
63 Switzerland 100,341 113,568 119,598 (r)
64 Turkey 11,214 12,253 12,540
65 United Kingdom 305,229 310,581 275,430 (r)
66 Channel Islands and
Isle of Man (14) 21,475 23,487 21,741 (r)
67 Yugoslavia (5) 237 183 183
68 Other Europe and
other former
U.S.S.R. (16) 58,353 57,828 66,052 (r)
69 Canada 29,209 31,867 36,031
70 Latin America 107,168 105,979 107,722 (r)
71 Argentina 10,002 9,769 9,884 (r)
72 Brazil 11,256 12,695 16,253 (r)
73 Chile 5,063 5,535 4,725
74 Colombia 4,726 4,653 4,617
75 Ecuador 2,256 2,296 2,217
76 Guatemala 1,543 1,504 1,546 (r)
77 Mexico 38,823 35,139 33,738 (r)
78 Panama 3,713 3,690 4,234 (r)
79 Peru 1,382 1,618 1,512
80 Uruguay 2,905 2,905 3,150 (r)
81 Venezuela 19,147 20,156 19,761 (r)
82 Other Latin America
(17) 6,352 6,019 6,185 (r)
83 Caribbean 211,602 222,491 228,737 (r)
84 Bahamas 161,240 169,514 174,207 (r)
85 Bermuda 43,422 45,774 43,954
86 British West Indies
(18) 0 0 0
87 Cayman Island (18) 738,272 689,027 703,610 (r)
88 Cuba 91 92 93
89 Jamaica 929 837 790
90 Netherlands Antilles 4,600 5,071 8,289
91 Trinidad and Tobago 1,320 1,203 1,404
92 Other Caribbean (17) 12,377 13,014 15,806 (r)
93 Asia 319,078 342,178 336,985 (r)
China
94 Mainland 14,998 15,622 17,389 (r)
95 Taiwan 21,428 23,214 20,785 (r)
96 Hong Kong 34,496 34,034 35,193 (r)
97 India 9,279 9,394 7,942 (r)
98 Indonesia 12,039 11,891 10,478
99 Israel 10,902 10,269 9,706 (r)
100 Japan 166,063 179,918 175,120 (r)
101 Korea (South) 6,873 7,935 9,152 (r)
102 Philippines 1,560 1,869 1,575 (r)
103 Thailand 5,741 5,293 5,534 (r)
104 Middle Eastern oil-
exporting
countries (19) 10,370 14,447 15,784 (r)
105 Other 25,329 28,292 28,327 (r)
106 Africa 13,605 13,184 13,163 (r)
107 Egypt 3,607 3,536 3,295
108 Morocco 210 281 234
109 South Africa 2,019 2,172 2,028
110 Congo (formerly
Zaire) 4 4 6
111 Oil-exporting
countries (20) 4,146 3,701 3,581
112 Other 3,619 3,490 3,919 (r)
113 Other countries 12,475 12,101 17,774 (r)
114 Australia 9,854 9,497 14,351
115 New Zealand (21) 2,123 2,039 2,959 (r)
116 All other 498 565 464 (r)
117 Nonmonetary interna-
tional and regional
organizations 9,003 8,962 11 |