Financial and business statistics.
SYMBOLS AND ABBREVIATIONS
c Corrected
e Estimated
n.a. Not available
n.e.c. Not elsewhere classified
p Preliminary
r Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
* Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
0 Calculated to be zero
... Cell not applicable
ABS Asset-backed security
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FAMC 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)
2002 2003
Monetary or credit aggregate Q4 Q1
Reserves of depository institutions (2)
1 Total 1.0 11.3
2 Required -1.4 11.4
3 Nonborrowed 1.9 12.8
4 Monetary base (3) 5.1 7.6
Concepts of money (4)
5 M1 4.9 7.5
6 M2 7.0 6.4
7 M3 7.8 5.6
Nontransaction components
8 In M2 (5) 7.6 6.0
9 In M3 only (6) 9.5 3.9
Time and savings deposit
Commercial banks
10 Savings, including MMDAs 16.8 13.6
11 Small time (7) -7.4 -7.1
12 Large time (8,9) -5.6 -1.5
Thrift institutions
13 Savings including MMDAs 20.0 21.9
14 Strait time (7) -6.0 -6.6
15 Large time (8) 11.9 8.9
Money market mutual funds
16 Retail -6.3 -9.9 (r)
17 Institution-only 2.1 -4.9
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 47.7 31.4
19 Eurodollars (10) 28.9 19.2
2003
Monetary or credit aggregate Q2 Q3
Reserves of depository institutions (2)
1 Total 6.7 34.0
2 Required 8.1 28.1
3 Nonborrowed 6.2 32.8
4 Monetary base (3) 5.9 4.1
Concepts of money (4)
5 M1 9.2 8.9
6 M2 8.5 (r) 9.0
7 M3 6.4 (r) 9.9
Nontransaction components
8 In M2 (5) 8.4 (r) 9.0
9 In M3 only (6) 1.8 12.0
Time and savings deposit
Commercial banks
10 Savings, including MMDAs 16.5 20.5
11 Small time (7) -8.6 -14.8
12 Large time (8,9) 2.1 30.2
Thrift institutions
13 Savings including MMDAs 24.6 21.0
14 Strait time (7) -9.0 -14.0
15 Large time (8) -2.1 16.4
Money market mutual funds
16 Retail -7.2 -7.1
17 Institution-only -14.7 12.5
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 27.8 -17.2
19 Eurodollars (10) 32.0 (r) 18.5
2003
Monetary or credit aggregate May June
Reserves of depository institutions (2)
1 Total 5.3 53.0
2 Required 2.8 48.0
3 Nonborrowed 4.5 49.9
4 Monetary base (3) 5.1 3.4
Concepts of money (4)
5 M1 20.3 13.3
6 M2 18.1 (r) 9.7 (r)
7 M3 13.1 (r) 9.3 (r)
Nontransaction components
8 In M2 (5) 17.5 (r) 8.8 (r)
9 In M3 only (6) 2.2 8.2
Time and savings deposit
Commercial banks
10 Savings, including MMDAs 23.5 21.5
11 Small time (7) -10.2 -10.9
12 Large time (8,9) 7.0 -6.6
Thrift institutions
13 Savings including MMDAs 40.5 13.2
14 Strait time (7) -11.8 -13.2
15 Large time (8) -10.2 11.3
Money market mutual funds
16 Retail 10.7 (r) -6.2 (r)
17 Institution-only 20.1 20.3
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 19.3 6.3
19 Eurodollars (10) 62.8 (r) -1.8
2003
Monetary or credit aggregate July (r) Aug. (r)
Reserves of depository institutions (2)
1 Total 31.7 64.3
2 Required 31.1 14.7
3 Nonborrowed 32.7 59.1
4 Monetary base (3) .6 9.7
Concepts of money (4)
5 M1 5.5 7.3
6 M2 10.1 8.4
7 M3 17.8 3.4
Nontransaction components
8 In M2 (5) 11.3 8.8
9 In M3 only (6) 34.9 -7.6
Time and savings deposit
Commercial banks
10 Savings, including MMDAs 28.3 19.1
11 Small time (7) -19.1 -16.6
12 Large time (8,9) 96.4 -3.9
Thrift institutions
13 Savings including MMDAs 21.5 22.2
14 Strait time (7) -14.6 -16.8
15 Large time (8) 34.6 16.8
Money market mutual funds
16 Retail -12.5 -6.3
17 Institution-only 42.1 -19.6
Repurchase agreements and eurodollars
18 Repurchase agreements (10) -57.9 -8.5
19 Eurodollars (10) 26.9 26.7
2003
Monetary or credit aggregate Sept.
Reserves of depository institutions (2)
1 Total -34.2
2 Required 26.5
3 Nonborrowed -30.6
4 Monetary base (3) 3.4
Concepts of money (4)
5 M1 2.0
6 M2 -1.4
7 M3 1.9
Nontransaction components
8 In M2 (5) -6.1
9 In M3 only (6) .2
Time and savings deposit
Commercial banks
10 Savings, including MMDAs -7.3
11 Small time (7) -12.7
12 Large time (8,9) -2.3
Thrift institutions
13 Savings including MMDAs 10.5
14 Strait time (7) -12.0
15 Large time (8) -2.9
Money market mutual funds
16 Retail -12.2
17 Institution-only 6.1
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 4.9
19 Eurodollars (10) -26.1
(1) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities. or "breaks,"
associated with regulatory changes in reserve requirements (See also
table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock, plus
(3) (for all quarterly reporters on the "Report of Transaction
Accounts, Otter 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:
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 al depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted MI is computed by smarting currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 Plus (1) savings (inclining MMDAs), (2) small-denomination time
deposits (time deposits--including retail RPs--in amounts of less than
$100,000, and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds.
Seasonally adjusted M2 is calculated by summing savings deposits,
small-denomination time deposits, and retail money fund balances, each
seasonally adjusted separately, and adding this result to seasonally
adjusted 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 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.
(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 terms of U.S.
addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RP--are thane 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 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
2003
Factor July Aug.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 716,576 718,212
2 Securities held outright 652,630 653,374
3 U.S. Treasury (2) 652,620 653,364
4 Bills (3) 239,480 240.227
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds, inflation-
indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,473 1,470
8 Federal agency (3) 10 10
9 Repurchase agreements (3) 24,153 25,774
10 Loans to depository institutions 114 330
11 Primary credit 5 168
12 Secondary credit 0 15
13 Seasonal credit 109 147
14 Float 147 346
15 Other Federal Reserve assets 39,532 38,387
16 Gold stock 11,044 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,114 35,188 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,590 695,356 (r)
20 Reverse repurchase agreements (6) 20,180 19,541
21 Foreign official and international
accounts 20,180 19,541
22 Dealers 0 0
23 Treasury cash holdings 334 354
24 Deposits with Federal Reserve Banks,
other than reserve balances 17,943 17,322
25 U.S. Treasury, general account 6,213 5,599
26 Foreign official 224 151
27 Service-related 11,192 11,280
28 Required clearing balances 10,864 10,909
29 Adjustments to compensate for
float 327 372
30 Other 315 292
31 Other liabilities and capital 19,956 20,112
32 Reserve balances with Federal Reserve
Banks (7) 11,921 13,958
End-of-month figures
July Aug.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 721,467 726,172
2 Securities held outright 652,913 653,909
3 U.S. Treasury (2) 652.903 653,899
4 Bills (3) 239,773 240,754
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds, inflation-
indexed (3) 12,914 12,814
7 Inflation compensation (4) 1,462 1,478
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 29,000 35,000
10 Loans to depository institutions 145 158
11 Primary credit 11 0
12 Secondary credit 0 0
13 Seasonal credit 133 158
14 Float -195 -265
15 Other Federal Reserve asset 39,605 37,371
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
19 Treasury currency outstanding 35,145 35,237 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,073 701,139 (r)
20 Reverse repurchase agreements 19,827 20,190
21 Foreign official and international
accounts 19,827 20,190
22 Dealers 0 0
23 Treasury cash holdings 364 335
24 Deposits with Federal Reserve Banks,
other than reserve balances 18,219 16,350
25 U.S. Treasury, general account 6,356 4,589
26 Foreign official 318 81
27 Service-related 11,288 11,455
28 Required clearing balances 10,898 10,912
29 Adjustments to compensate for
float 390 543
30 Other 258 225
31 Other liabilities and capital 19,674 20,251
32 Reserve balances with Federal Reserve
Banks (7) 17,696 17,387
Average of
daily figures
for week
Average of ending on
daily date
figures indicated
2003 2003
Factor Sept. Aug. 13
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 720,656 711,824
2 Securities held outright 655,412 653,072
3 U.S. Treasury (2) 655,402 653,062
4 Bills (3) 241,209 239,927
5 Notes and bonds, nominal (3) 399,372 398,853
6 Notes and bonds, inflation-
indexed (3) 13,305 12,814
7 Inflation compensation (4) 1,516 1,467
8 Federal agency (3) 10 10
9 Repurchase agreements (3) 26,800 17,679
10 Loans to depository institutions 184 145
11 Primary credit 25 7
12 Secondary credit 0 0
13 Seasonal credit 159 138
14 Float -13 595
15 Other Federal Reserve assets 38,273 40,334
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,268 35,168 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 697,197 694,989 (r)
20 Reverse repurchase agreements (6) 20,312 19,563
21 Foreign official and international
accounts 20,312 19,563
22 Dealers 0 0
23 Treasury cash holdings 337 369
24 Deposits with Federal Reserve Banks,
other than reserve balances 18,206 17,205
25 U.S. Treasury, general account 6,206 5,611
26 Foreign official 272 149
27 Service-related 11,467 11,157
28 Required clearing balances 11,191 10,912
29 Adjustments to compensate for
float 276 245
30 Other 261 287
31 Other liabilities and capital 20,639 20,190
32 Reserve balances with Federal Reserve
Banks (7) 12,477 7,919
End-of
month Wednesday
figures figures
Sept. Aug. 13
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 732,550 715,472
2 Securities held outright 656,126 653,288
3 U.S. Treasury (2) 656,116 653,278
4 Bills (3) 241,533 240,142
5 Notes and bonds, nominal (3) 399,595 398,853
6 Notes and bonds, inflation-
indexed (3) 13,454 12,814
7 Inflation compensation (4) 33 1,469
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 37,500 19,000
10 Loans to depository institutions 174 164
11 Primary credit 21 16
12 Secondary credit 0 0
13 Seasonal credit 154 148
14 Float -496 2,583
15 Other Federal Reserve asset 39,246 40,438
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
19 Treasury currency outstanding 35,293 35,168 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 698,144 695,939 (r)
20 Reverse repurchase agreements 24,983 19,138
21 Foreign official and international
accounts 24,983 19,138
22 Dealers 0 0
23 Treasury cash holdings 341 359
24 Deposits with Federal Reserve Banks,
other than reserve balances 19,046 17,683
25 U.S. Treasury, general account 7,224 5,720
26 Foreign official 82 525
27 Service-related 11,515 11,157
28 Required clearing balances 11,225 10,912
29 Adjustments to compensate for
float 290 245
30 Other 224 281
31 Other liabilities and capital 21,164 20,043
32 Reserve balances with Federal Reserve
Banks (7) 17,409 10,722
Average of daily figures
for week ending on date
indicated
2003
Factor 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) 240,298 240,492
5 Notes and bonds, nominal (3) 398.853 398,853
6 Notes and bonds, inflation-
indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,471 1,474
8 Federal agency (3) 10 10
9 Repurchase agreements (3) 34,071 24,607
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
15 Other Federal Reserve assets 37,243 36,834
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,191 (r) 35,214 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,728 (r) 694,765 (r)
20 Reverse repurchase agreements (6) 20,106 19,223
21 Foreign official and international
accounts 20,106 19,223
22 Dealers 0 0
23 Treasury cash 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 239 86
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 304 306
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 653,526 653,681
3 U.S. Treasury (2) 653,510 653,671
4 Bills (3) 240,376 240,528
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds, inflation-
indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,472 1,476
8 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 Federal Reserve asset 36,789 36,558
16 Gold stock 11,043 11,143
17 Special drawing rights certificate
account 2,200 2,200
19 Treasury currency outstanding 35,191 (r) 35,214 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 695,686 (r) 697,414 (r)
20 Reverse repurchase agreements 20,344 19,119
21 Foreign official and international
accounts 20,344 19,119
22 Dealers 0 0
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 10,912
29 Adjustments to compensate for
float 419 337
30 Other 301 282
31 Other liabilities and capital 19,884 19,912
32 Reserve balances with Federal Reserve
Banks (7) 24,511 13,570
Average of daily figures
for week ending on date
indicated
2003
Factor Sept. 3 Sept. 10
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 725,308 715,281
2 Securities held outright 653,881 654.525
3 U.S. Treasury (2) 653,871 654,515
4 Bills (3) 240,726 240,969
5 Notes and bonds, nominal (3) 398,853 398,959
6 Notes and bonds, inflation-
indexed (3) 12,814 13,089
7 Inflation compensation (4) 1,478 1,499
8 Federal agency (3) 10 10
9 Repurchase agreements (3) 34,429 22,821
10 Loans to depository institutions 166 158
11 Primary credit 9 3
12 Secondary credit 0 0
13 Seasonal credit 157 155
14 Float -490 308
15 Other Federal Reserve assets 37,323 37,468
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,237 35,251
ABSORBING RESERVE FUNDS
19 Currency in circulation 700,111 698,503
20 Reverse repurchase agreements (6) 20,022 19,345
21 Foreign official and international
accounts 20,022 19,345
22 Dealers 0 0
23 Treasury cash holdings 335 337
24 Deposits with Federal Reserve Banks,
other than reserve balances 16,790 16,676
25 U.S. Treasury, general account 4,843 4,745
26 Foreign official 248 261
27 Service-related 11,455 11,392
28 Required clearing balances 10,912 11,219
29 Adjustments to compensate for
float 543 173
30 Other 244 279
31 Other liabilities and capital 20,194 20,451
32 Reserve balances with Federal Reserve
Banks (7) 16,336 8,463
Wednesday figures
Sept. 3 Sept. 10
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 726,556 716,178
2 Securities held outright 653,941 655,602
3 U.S. Treasury (2) 653,931 655,592
4 Bills (3) 240,795 241,020
5 Notes and bonds, nominal (3) 398,853 399,595
6 Notes and bonds, inflation-
indexed (3) 12,814 13.454
7 Inflation compensation (4) 1,479 1,523
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 33,250 22,500
10 Loans to depository institutions 180 155
11 Primary credit 27 0
12 Secondary credit 0 0
13 Seasonal credit 153 154
14 Float 1,995 134
15 Other Federal Reserve asset 37,189 37,798
16 Gold stock 11,143 11,143
17 Special drawing rights certificate
account 2,200 2,200
19 Treasury currency outstanding 35,237 35,251
ABSORBING RESERVE FUNDS
19 Currency in circulation 701,257 698,130
20 Reverse repurchase agreements 18,757 19,719
21 Foreign official and international
accounts 18,757 19,719
22 Dealers 0 0
23 Treasury cash holdings 338 333
24 Deposits with Federal Reserve Banks,
other than reserve balances 16,906 16,798
25 U.S. Treasury, general account 4,525 51,139
26 Foreign official 686 80
27 Service-related 11,455 11,392
28 Required clearing balances 10,912 11,219
29 Adjustments to compensate for
float 543 173
30 Other 240 297
31 Other liabilities and capital 20,080 20,347
32 Reserve balances with Federal Reserve
Banks (7) 17,697 9,345
Average of daily figures
for week ending on date
indicated
2003
Factor Sept. 17 Sept. 24
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 721,655 717,606
2 Securities held outright 655,767 655,990
3 U.S. Treasury (2) 655,757 655,980
4 Bills (3) 241,183 241,402
5 Notes and bonds, nominal (3) 399,595 399,595
6 Notes and bonds, inflation-
indexed (3) 13,454 13,454
7 Inflation compensation (4) 1,525 1,529
8 Federal agency (3) 10 10
9 Repurchase agreements (3) 27,893 22,286
10 Loans to depository institutions 162 236
11 Primary credit 4 73
12 Secondary credit 0 0
13 Seasonal credit 158 163
14 Float -233 286
15 Other Federal Reserve assets 38,066 38,809
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,265 35,279
ABSORBING RESERVE FUNDS
19 Currency in circulation 696,235 695,980
20 Reverse repurchase agreements (6) 20,445 20,545
21 Foreign official and international
accounts 20,445 20,545
22 Dealers 0 0
23 Treasury cash holdings 333 336
24 Deposits with Federal Reserve Banks,
other than reserve balances 18.064 19,405
25 U.S. Treasury, general account 6,084 7,540
26 Foreign official 229 102
27 Service-related 11,481 11,494
28 Required clearing balances 11,219 11,226
29 Adjustments to compensate for
float 262 268
30 Other 269 270
31 Other liabilities and capital 20,588 20,755
32 Reserve balances with Federal Reserve
Banks (7) 14,498 9,107
Wednesday figures
Sept. 17 Sept. 24
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 722,549 720,499
2 Securities held outright 655.953 656,003
3 U.S. Treasury (2) 655,943 655,993
4 Bills (3) 241.367 241.414
5 Notes and bonds, nominal (3) 399,595 399,595
6 Notes and bonds, inflation-
indexed (3) 13,454 13,454
7 Inflation compensation (4) 1,526 1,530
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 29,250 26,000
10 Loans to depository institutions 165 341
11 Primary credit 2 172
12 Secondary credit 0 0
13 Seasonal credit 162 170
14 Float -1,048 -974
15 Other Federal Reserve asset 38,229 39,128
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
19 Treasury currency outstanding 35,265 35,279
ABSORBING RESERVE FUNDS
19 Currency in circulation 697,013 697,408
20 Reverse repurchase agreements 18,972 18,801
21 Foreign official and international
accounts 18,972 18,801
22 Dealers 0 0
23 Treasury cash holdings 335 341
24 Deposits with Federal Reserve Banks,
other than reserve balances 19,270 18.674
25 U.S. Treasury, general account 7,247 6,837
26 Foreign official 270 82
27 Service-related 11,481 11,494
28 Required clearing balances 11,219 11.226
29 Adjustments to compensate for
float 262 268
30 Other 272 262
31 Other liabilities and capital 20,225 20,648
32 Reserve balances with Federal Reserve
Banks (7) 15,242 13,149
(1.) Amounts of vault cash held as reserves are shown in table 1.12,
line 2.
(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.) Cash value of agreements, which are fully collateralized 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
averages
Reserve classification 2000 2001 2002
Dec. Dec. Dec.
1 Reserve balances with
Reserve Banks (2) 7,022 9,053 9,926
2 Total vault cash (3) 45,246 43,918 43,368
3 Applied vault cash (4) 31,451 32,024 30,347
4 Surplus vault cash (5) 13,795 11,894 13,021
5 Total reserves (6) 38,473 41,077 40,274
6 Required reserves 37,046 39,428 38,264
7 Excess reserve balan-
ces at Reserve
Banks (7) 1,427 1,649 2,009
8 Total borrowing at Reserve
Banks 210 67 80
9 Primary ... ... ...
10 Secondary ... ... ...
11 Seasonal 111 33 45
12 Adjustment 99 34 35
Biweekly averages of daily figures for
two-week periods ending on dated
indicated
2003
May 28 June 11 June 25
1 Reserve balances with
Reserve Banks (2) 13,116 11,050 11,437
2 Total vault cash (3) 41,968 41,040 42,303
3 Applied vault cash (4) 31,211 29,854 30,798
4 Surplus vault cash (5) 10,758 11,186 11,505
5 Total reserves (6) 44,326 40,904 42,235
6 Required reserves 42,712 38,909 40,631
7 Excess reserve balan-
ces at Reserve
Banks (7) 1,614 1,994 1,604
8 Total borrowing at Reserve 58 69 241
Banks
9 Primary 2 7 163
10 Secondary 0 0 11
11 Seasonal 56 63 78
12 Adjustment ... ... ...
Prorated monthly averages of biweekly
averages
Reserve classification 2003
Mar. Apr. May
1 Reserve balances with
Reserve Banks (2) 9,840 10,598 11,405
2 Total vault cash (3) 43,368 41,991 41,636
3 Applied vault cash (4) 30,757 30,574 30,395
4 Surplus vault cash (5) 12,331 11,417 11,241
5 Total reserves (6) 40,597 41,172 41,801
6 Required reserves 38,961 39,640 40,182
7 Excess reserve balan-
ces at Reserve
Banks (7) 1,636 1,532 1,619
8 Total borrowing at Reserve
Banks 22 29 55
9 Primary 14 8 3
10 Secondary 0 0 0
11 Seasonal 8 21 53
12 Adjustment ... ... ...
Biweekly averages of daily figures for
two-week periods ending on dated
indicated
2003
July 9 July 23 Aug. 6
1 Reserve balances with
Reserve Banks (2) 11,453 12,644 12,099
2 Total vault cash (3) 43,030 41,789 43,758
3 Applied vault cash (4) 31,534 30,545 32,890
4 Surplus vault cash (5) 11,497 11,244 10,869
5 Total reserves (6) 42,986 43,189 44,988
6 Required reserves 40,744 41,601 42,836
7 Excess reserve balan-
ces at Reserve
Banks (7) 2,242 1,588 2,152
8 Total borrowing at Reserve 144 117 140
Banks
9 Primary 54 5 11
10 Secondary 0 1 11
11 Seasonal 9 111 129
12 Adjustment ... ... ...
Prorated monthly averages of biweekly
averages
Reserve classification 2003
June July
1 Reserve balances with
Reserve Banks (2) 11,297 12,157
2 Total vault cash (3) 41,961 42,657
3 Applied vault cash (4) 30,574 31,437
4 Surplus vault cash (5) 11,386 11,220
5 Total reserves (6) 41,872 43,594
6 Required reserves 40,018 41,671
7 Excess reserve balan-
ces at Reserve
Banks (7) 1,854 1,924
8 Total borrowing at Reserve
Banks 161 130
9 Primary 87 21
10 Secondary 11 0
11 Seasonal 74 110
12 Adjustment ... ...
Biweekly averages of daily figures for
two-week periods ending on dated
indicated
2003
Aug. 20 Sept. 3 (r)
1 Reserve balances with
Reserve Banks (2) 14,940 14,141
2 Total vault cash (3) 43,490 42,060
3 Applied vault cash (4) 31,551 (r) 32,024
4 Surplus vault cash (5) 11,939 (r) 10,036
5 Total reserves (6) 46,491 (r) 46,165
6 Required reserves 40,805 (r) 43,971
7 Excess reserve balan-
ces at Reserve
Banks (7) 5,686 (r) 2,194
8 Total borrowing at Reserve 541 162
Banks
9 Primary 363 5
10 Secondary 33 0
11 Seasonal 145 157
12 Adjustment ... ...
Prorated monthly averages of biweekly
averages
Reserve classification 2003
Aug. Sept.
1 Reserve balances with
Reserve Banks (2) 14,107 12,470
2 Total vault cash (3) 43,034 43,079
3 Applied vault cash (4) 31,978 (r) 31,940
4 Surplus vault cash (5) 11,056 (r) 11,138
5 Total reserves (6) 46,084 (r) 44,410
6 Required reserves 42,321 (r) 42,905
7 Excess reserve balan-
ces at Reserve
Banks (7) 3,763 (r) 1,505
8 Total borrowing at Reserve
Banks 329 181
9 Primary 168 23
10 Secondary 15 0
11 Seasonal 146 158
12 Adjustment ... ...
Biweekly averages of daily figures for
two-week periods ending on dated
indicated
2003
Sept. 17 Oct. 1
1 Reserve balances with
Reserve Banks (2) 11,506 13,122
2 Total vault cash (3) 42,327 44,125
3 Applied vault cash (4) 30,948 32,990
4 Surplus vault cash (5) 11,379 11,135
5 Total reserves (6) 42,454 46,112
6 Required reserves 41,541 44,129
7 Excess reserve balan-
ces at Reserve
Banks (7) 913 1,983
8 Total borrowing at Reserve 16 207
Banks
9 Primary 4 48
10 Secondary 11 11
11 Seasonal 157 159
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 off-balance-sheet "as-of"
adjustment.
(3.) Vault cash eligible to satisfy reserve requirement. It includes
only vault cash held by those hanks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirement.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current reserve
requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus applied
vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit (1)
Federal Reserve On Effective
Bank 11/14/03 date Previous rate
Boston 2.00 6/25/03 2.25
New York [up arrow] 6/25/03 [up arrow]
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 [down arrow] 6/26/03 [down arrow]
San Francisco 2.00 6/25/03 2.25
Current and previous levels
Secondary credit (2)
Federal Reserve On Effective
Bank 11/14/03 date Previous rate
Boston 2.50 6/25/03 2.75
New York [up arrow] 6/25/03 [up arrow]
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 [down arrow] 6/26/03 [down arrow]
San Francisco 2.50 6/25/03 2.75
Current and previous levels
Seasonal credit (3)
Federal Reserve On Effective
Bank 11/14/03 date Previous rate
Boston 1.05 9/4/03 1.10
New York [up arrow] [up arrow] [up arrow]
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas [down arrow] [down arrow] [down arrow]
San Francisco 1.05 9/4/03 1.10
Range of rates for primary credit
Range (or F.R. Bank
level)--All of Effective
Effective date F.R. Banks N.Y. date
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 November 14, 2003 2.00 2.00
Range of rates for primary credit
Range (or F.R. Bank
level)--All of Effective
Effective date F.R. Banks N.Y. date
In effect Jan. 9, 2003
(beginning of program)
2003-June 25
26
In effect November 14, 2003
Range of rates for primary credit
Range (or F.R. Bank
level)--All of Effective
Effective date F.R. Banks N.Y. date
In effect Jan. 9, 2003
(beginning of program)
2003-June 25
26
In effect November 14, 2003
Range of rates for adjustment credit in recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.25 5.25
1996-Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998-Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999-Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000-Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001-Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001-May 15 3.50-4.00 3.50
17 3.50 3.50
2001-June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
2002-Nov. 6 0.75-1.25 0.75
7 0.75 0.75
In effect Jan. 8, 2003 0.75 0.75
(end of program)
(1.) Available for very short terms as a backup source 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 circumstances 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 front a clear pattern of
intrayearly movements in their deposits and loans and that cannot be
met through special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources of funds and
ordinarily is re-established 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 for funds that could not be
met through reasonable alternative sources. For earlier data.
See the following publications of the Board of Governors: Banking
and Monetary Statistics, 1914-1941, and 1941-1970; and the
Statistical Digest, 1970-1979, 1980-1989, and 1990-1995. See also
the Board's Statistics: Releases and Historical
Data web pages (http://www.federalreserve.gov/releases/H15/data.html).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Type deposit Requirement
Percentage Effective
of deposits date
Net transaction accounts (2)
1 $0 million-$6.6 million (3) 0 12/25/03
2 More than $6.6 million-$45.4 million (4) 3 12/25/03
3 More than $45.4 million (5) 10 12/25/03
4 Nonpersonal time deposits (6) 0 12/27/03
5 Eurocurrency liabilities (7) 0 12/27/03
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly, on a
pass-through basis, with certain approved institutions. For previous
reserve requirements, see earlier editions of the Annual Report or the
Federal Reserve Bulletin. Under the Monetary Control Act of 1980,
depository institutions include commercial banks, savings banks,
savings and loan associations, credit unions, agencies and branches of
foreign banks, and Edge Act corporation.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instrument, payment orders of withdrawal, or telephone or
preauthorized transfers for the purpose of making payments to third
persons or others. However, accounts subject to the rules that permit
no more than six preauthorized, automatic, or other transfers per month
(of which no more than three may be by check, draft, debit card, or
similar order payable directly to third parties) are savings deposits,
not transaction accounts.
(3.) Under the Garn-St Germain Depository Invitations Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
percent reserve requirement each year for the succeeding calendar year
by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual basis
as of June 30. No corresponding adjustment is made in the event of a
decrease. The exemption applies only to accounts that would be subject
to a 3 percent reserve requirement. Effective with the reserve
maintenance period beginning December 25, 2003, for depository
institutions that report 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 accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change in
transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 25, 2003, for depository institutions that
report weekly, and with the period beginning January 15, 2004, for
institutions that report quarterly, the amount was increased from
$42.1 million to $45.4 million.
(5.) The reserve requirement was reduced from 12 percent to 10 percent
on April 2, 1992, for institutions thin report weekly, and on April 16,
1992, for institutions that report quarterly.
(6.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced front 3 percent to 1.5 percent for the maintenance
period bar began December 13, 1990, and to zero for the maintenance
period that began December 27, 1990. For institutions that report
quarterly, the reserve requirement on nonpersonal time deposits with an
original maturity of less than 1.5 years was reduced from 3 percent to
zero on January 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1.5 years or more has been 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
Treasury bills
1 Gross purchases 8,676 15,503 21,421
2 Gross sales 0 0 0
3 Exchanges 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 Redemptions 3,779 16,802 0
One in 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 purchases 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
Reserve repurchase
agreements (4)
35 Gross purchases 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
Type of transaction
and maturity 2003
Feb. Mar. Apr.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 4,161 1,863 3,543
2 Gross sales 0 0 0
3 Exchanges 53,860 47,424 51,834
4 For new bills 53,860 47,424 51,834
5 Redemptions 0 0 0
Others within one year
6 Gross purchases 478 1,318 1,422
7 Gross sales 0 0 0
8 Maturity shifts 3,214 8,334 8,333
9 Exchanges -13,313 -8,211 -7,293
10 Redemptions 0 0 0
One in five years
11 Gross purchases 2,127 710 733
12 Gross sales 0 0 0
13 Maturity shifts 2,160 -8,334 -8,333
14 Exchanges 11,817 8,211 7,293
Five to ten years
15 Gross purchases 769 522 0
16 Gross sales 0 0 0
17 Maturity shifts -3,877 0 0
18 Exchanges 1,497 0 0
More than ten years
19 Gross purchases 0 50 0
20 Gross sales 0 0 0
21 Maturity shifts -1,497 0 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 7,534 4,463 5,699
24 Gross sales 0 0 o
25 Redemptions 0 0 0
26 Net change in U.S. Treasury
securities 7,534 4,463 5,699
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 121,896 95,001 112,251
32 Gross sales 119,746 90,151 106,500
Matched sale--purchase
agreements
33 Gross purchases 0 0 0
34 Gross sales 0 0 0
Reserve repurchase
agreements (4)
35 Gross purchases 343,748 388,069 451,149
36 Gross sales 343,395 389,469 452,545
37 Net change in temporary
transactions 2 2,200 2,104
38 Total net change in
System Open Market Account 7,537 6,664 7,803
Type of transaction 2003
and maturity
May June July
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 1,684 1,032 808
2 Gross sales 0 0 0
3 Exchanges 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 7,531 6,662
9 Exchanges -6,999 -6,700 -4,996
10 Redemptions 0 0 0
One in 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 6,700 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 purchases 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
Reserve repurchase
agreements (4)
35 Gross purchases 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
Type of transaction
and maturity 2003
Aug.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 981
2 Gross sales 0
3 Exchanges 56,098
4 For new bills 56,098
5 Redemptions 0
Others within one year
6 Gross purchases 0
7 Gross sales 0
8 Maturity shifts 4,915
9 Exchanges -9,776
10 Redemptions 0
One in five years
11 Gross purchases 0
12 Gross sales 0
13 Maturity shifts -1,561
14 Exchanges 7,261
Five to ten years
15 Gross purchases 0
16 Gross sales 0
17 Maturity shifts 2,202
18 Exchanges 2,515
More than ten years
19 Gross purchases 0
20 Gross sales 0
21 Maturity shifts -5,556
22 Exchanges 0
All maturities
23 Gross purchases 981
24 Gross sales 0
25 Redemptions 0
26 Net change in U.S. Treasury
securities 981
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0
28 Gross sales 0
29 Redemptions 0
30 Net change in federal agency 0
obligations
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 156,250
32 Gross sales 150,250
Matched sale--purchase
agreements
33 Gross purchases 0
34 Gross sales 0
Reserve repurchase
agreements (4)
35 Gross purchases 410,913
36 Gross sales 411,276
37 Net change in temporary
transactions 5,637
38 Total net change in
System Open Market Account 6,617
(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 collaterized by U.S.
Treassury securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve Note
Statements (1)
Millions of dollars
Wednesday
2003
Account Aug. 27 Sept. 3 Sept. 10
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,039 11,039 11,039
2 Special drawing rights certificate
account 2,200 2,200 2,200
3 Coin 887 858 850
4 Securities, repurchase agreements,
and loans 682,842 687,371 678,256
5 Securities held outright 653,681 653,941 655,602
6 U.S. Treasury (2) 653,671 653,931 655,592
7 Bills (3) 240,528 240,785 241,020
8 Notes and bonds, nominal (3) 398,853 398,853 399,595
9 Notes and bonds infation-
indexed (3) 12,814 12,814 13,454
10 Inflation compensation (4) 1,476 1,479 1,523
11 Federal agency (3) 10 10 10
12 Repurchase agreements (5) 29,000 33,250 22,500
13 Loans 161 180 155
14 Items in process of collection 7,586 12,854 8,013
15 Bank premises 1,590 1,589 1,590
16 Other assets 35,389 35,449 36,186
17 Denominated in foreign
currencies (6) 17,511 17,580 17,813
18 All other (7) 17,878 17,869 18,373
19 Total assets 741,534 751,360 738,134
LIABILITIES
20 Federal Reserve notes, net of F.R.
Bank holdings 663,418 667,212 664,058
21 Reserve repurchase agreements (8) 19,119 18,757 19,719
22 Deposits 31,731 34,317 26,161
23 Depository institutions 25,927 28,866 20,755
24 U.S. Treasury, general account 5,441 4,525 5,039
25 Foreign official 81 686 80
26 Other 282 240 287
27 Deferred availability cash items 7,355 10,994 7,849
28 Other liabilities and accrued
dividends (9) 2,204 2,195 2,215
29 Total liabilities 723,825 733,475 720,003
CAPITAL ACCOUNTS
30 Capital paid in 8,748 8,752 8,755
31 Surplus 8,380 8,380 8,390
32 Other capital accounts 580 752 996
33 Total capital 17,708 17,885 18,131
MEMO
34 Marketable securities held in
custody for foreign official
and international
accounts (3,10) 949,401 961,027 964,040
35 U.S. Treasury 761,587 772,567 777,059
36 Federal agency 187,814 188,460 186,981
37 Securities lent to dealers 2,346 2,201 1,395
Federal Reserve notes and
collateral statement
38 Federal Reserve notes outstanding 780,878 781,724 783,777
39 Less: Notes held by F.R. Banks
not subject to
collateralization 112,697 109,755 115,128
40 Federal Reserve notes to be
collaterized 668,181 671,969 668,649
41 Collateral held against Federal
Reserve notes 668,181 671,969 668,649
42 Gold certificate account 11,039 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200 2,200
44 U.S. Treasury and agency
securities pledged (11) 654,942 658,730 655,411
45 Other eligible asset 0 0 0
MEMO
46 Total U.S. Treasury and agency
securities (11) 682,681 687,191 678,102
47 Less: face value of securities
under reverse repurchase 19,124 18,762 19,724
agreements (12)
48 U.S. Treasury and agency
securities eligible to be
pledged 663,558 668,429 658,377
End of
Wednesday month
2003
Account Sept. 17 Sept.24 July
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,039 11,039 11,039
2 Special drawing rights certificate
account 2,200 2,200 2,200
3 Coin 848 849 878
4 Securities, repurchase agreements,
and loans 685,367 682,345 682,057
5 Securities held outright 655,953 656,003 652,913
6 U.S. Treasury (2) 655,943 655,993 652,903
7 Bills (3) 241,367 241,414 239,773
8 Notes and bonds, nominal (3) 399,595 399,595 398,853
9 Notes and bonds infation-
indexed (3) 13,454 13,454 12,814
10 Inflation compensation (4) 1,526 1,530 1,462
11 Federal agency (3) 10 10 10
12 Repurchase agreements (5) 29,250 26,000 29,000
13 Loans 165 341 145
14 Items in process of collection 7,157 6,535 6,558
15 Bank premises 1,591 1,595 1,586
16 Other assets 36,633 37,521 38,004
17 Denominated in foreign
currencies (6) 17,935 18,456 17,598
18 All other (7) 18,697 19,065 20,406
19 Total assets 744,835 742,084 742,321
LIABILITIES
20 Federal Reserve notes, net of F.R.
Bank holdings 662,927 663,314 660,167
21 Reserve repurchase agreements (8) 18,972 18,801 19,827
22 Deposits 34,823 32,208 35,972
23 Depository institutions 27,034 25,027 29,041
24 U.S. Treasury, general account 7,247 6,837 6,356
25 Foreign official 270 82 318
26 Other 272 262 258
27 Deferred availability cash items 7,889 7,112 6,681
28 Other liabilities and accrued
dividends (9) 2,204 2,245 2,143
29 Total liabilities 726,815 723,681 724,789
CAPITAL ACCOUNTS
30 Capital paid in 8,755 8,758 8,719
31 Surplus 8,380 8,380 8,327
32 Other capital accounts 885 1,265 486
33 Total capital 18,021 18,403 17,532
MEMO
34 Marketable securities held in
custody for foreign official
and international
accounts (3,10) 959,339 968,067 936,251
35 U.S. Treasury 772,230 775,698 754,101
36 Federal agency 187,110 192,369 182,150
37 Securities lent to dealers 586 809 2,390
Federal Reserve notes and
collateral statement
38 Federal Reserve notes outstanding 785,485 787,589 774,672
39 Less: Notes held by F.R. Banks
not subject to
collateralization 117,643 119,527 109,856
40 Federal Reserve notes to be
collaterized 667,842 668,062 664,816
41 Collateral held against Federal
Reserve notes 667,842 668,062 664,816
42 Gold certificate account 11,039 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200 2,200
44 U.S. Treasury and agency
securities pledged (11) 654,603 654,823 651,577
45 Other eligible asset 0 0 0
MEMO
46 Total U.S. Treasury and agency
securities (11) 685,203 682,003 681,913
47 Less: face value of securities
under reverse repurchase 18,976 18,805 19,831
agreements (12)
48 U.S. Treasury and agency
securities eligible to be
pledged 666,226 663,198 662,081
End of month
2003
Account Aug. Sept.
Consolidated
condition statement
ASSETS
1 Gold certificate account 11,039 11,039
2 Special drawing rights certificate
account 2,200 2,200
3 Coin 881 847
4 Securities, repurchase agreements,
and loans 689,066 693,800
5 Securities held outright 653,909 656,126
6 U.S. Treasury (2) 653,899 656,116
7 Bills (3) 240,754 241,533
8 Notes and bonds, nominal (3) 398,853 399,595
9 Notes and bonds infation-
indexed (3) 12,814 13,454
10 Inflation compensation (4) 1,478 1,533
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 35,000 37,500
13 Loans 158 174
14 Items in process of collection 5,997 9,071
15 Bank premises 1,590 1,597
16 Other assets 35,729 37,636
17 Denominated in foreign
currencies (6) 17,654 18,636
18 All other (7) 18,075 19,000
19 Total assets 746,503 756,190
LIABILITIES
20 Federal Reserve notes, net of F.R.
Bank holdings 666,113 664,034
21 Reserve repurchase agreements (8) 20,190 24,983
22 Deposits 33,793 36,671
23 Depository institutions 28,898 29,141
24 U.S. Treasury, general account 4,589 7,224
25 Foreign official 81 82
26 Other 225 224
27 Deferred availability cash items 6,155 9,337
28 Other liabilities and accrued
dividends (9) 2,195 2,227
29 Total liabilities 728,446 737,252
CAPITAL ACCOUNTS
30 Capital paid in 8,750 8,746
31 Surplus 8,380 8,380
32 Other capital accounts 927 1,811
33 Total capital 18,057 18,938
MEMO
34 Marketable securities held in
custody for foreign official
and international
accounts (3,10) 951,036 982,329
35 U.S. Treasury 765,022 787,003
36 Federal agency 186,013 195,326
37 Securities lent to dealers 2,631 3,088
38 Federal Reserve notes outstanding 780,991 789,185
39 Less: Notes held by F.R. Banks
not subject to
collateralization 110,234 119,804
40 Federal Reserve notes to be
collaterized 670,757 669,381
41 Collateral held against Federal
Reserve notes 670,757 669,381
42 Gold certificate account 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200
44 U.S. Treasury and agency
securities pledged (11) 657,518 656,142
45 Other eligible asset 0 0
MEMO
46 Total U.S. Treasury and agency
securities (11) 688,909 693,626
47 Less: face value of securities
under reverse repurchase 20,198 24,989
agreements (12)
48 U.S. Treasury and agency
securities eligible to be
pledged 668,711 668,637
(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
Million Dollars
Wednesday
Type of holding and maturity
2003
Aug. 27 Sept. 3
1 Total loans 161 180
2 Within 15 days 138 35
3 16 days to 90 days 23 145
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities (1) 653,671 653,931
6 Within 15 days 50,191 45,481
7 16 days to 90 days 135,304 140,939
8 91 days to 1 year 160,830 162,179
9 Over 1 year to 5 years 180,033 178,017
10 Over 5 years to 10 years 50,384 50,385
11 Over 10 years 76,929 76,931
12 Total federal agency securities 10 10
13 Within 15 days 0 0
14 16 days to 90 days 0 0
15 91 days to 1 year 10 10
16 Over 1 year to 5 years 0 0
17 Over 5 years to 10 years 0 0
18 Over 10 years 0 0
19 Total repurchase agreements (2) 29,000 33,250
20 Within 15 days 24,000 29,250
21 16 days to 90 days 5,000 4,000
22 Total reverse repurchase agreements (2) 19,119 18,757
23 Within 15 days 19,119 18,757
24 16 days to 90 days 0 0
Wednesday
Type of holding and maturity
2003
Sept. 10 Sept. 17
1 Total loans 155 165
2 Within 15 days 30 163
3 16 days to 90 days 125 2
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities (1) 655,592 655,943
6 Within 15 days 45,911 52,664
7 16 days to 90 days 141,474 135,948
8 91 days to 1 year 161,449 160,569
9 Over 1 year to 5 years 178,018 178,019
10 Over 5 years to 10 years 51,655 51,656
11 Over 10 years 77,085 77,086
12 Total federal agency securities 10 10
13 Within 15 days 0 0
14 16 days to 90 days 0 10
15 91 days to 1 year 10 0
16 Over 1 year to 5 years 0 0
17 Over 5 years to 10 years 0 0
18 Over 10 years 0 0
19 Total repurchase agreements (2) 22,500 29,250
20 Within 15 days 18,500 24,250
21 16 days to 90 days 4,000 5,000
22 Total reverse repurchase agreements (2) 19,719 18,972
23 Within 15 days 19,719 18,972
24 16 days to 90 days 0 0
Wednesday End of the
month
Type of holding and maturity
2003 2003
Sept. 24 July
1 Total loans 341 145
2 Within 15 days 311 99
3 16 days to 90 days 30 45
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities (1) 655,993 652,903
6 Within 15 days 52,428 36,979
7 16 days to 90 days 137,309 134,047
8 91 days to 1 year 159,492 172,745
9 Over 1 year to 5 years 178,020 184,345
10 Over 5 years to 10 years 51,658 44,823
11 Over 10 years 77,088 79,965
12 Total federal agency securities 10 10
13 Within 15 days 0 0
14 16 days to 90 days 10 0
15 91 days to 1 year 0 l0
16 Over 1 year to 5 years 0 0
17 Over 5 years to 10 years 0 0
18 Over 10 years 0 0
19 Total repurchase agreements (2) 26,000 29,000
20 Within 15 days 26,000 24,000
21 16 days to 90 days 0 5,000
22 Total reverse repurchase agreements (2) 18,801 19,827
23 Within 15 days 18,801 19,827
24 16 days to 90 days 0 0
End of Month
Type of holding and maturity
2003
Aug. Sept.
1 Total loans 158 174
2 Within 15 days 109 126
3 16 days to 90 days 48 49
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities (1) 653,899 656,116
6 Within 15 days 35,599 30,538
7 16 days to 90 days 138,773 153,565
8 91 days to 1 year 172,179 158,709
9 Over 1 year to 5 years 180,033 184,556
10 Over 5 years to 10 years 50,384 51,659
11 Over 10 years 76,930 77,089
12 Total federal agency securities 10 10
13 Within 15 days 0 0
14 16 days to 90 days 0 10
15 91 days to 1 year 10 0
16 Over 1 year to 5 years 0 0
17 Over 5 years to 10 years 0 0
18 Over 10 years 0 0
19 Total repurchase agreements (2) 35,000 37,500
20 Within 15 days 26,000 37,500
21 16 days to 90 days 9,000 0
22 Total reverse repurchase agreements (2) 20,190 24,983
23 Within 15 days 20,190 24,983
24 16 days to 90 days 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
Item Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (2)
1 Total reserves (3) 41.81 38.54 41.24
2 Nonborrowed reserves (4) 41.49 38.33 41.18
3 Required reserves 40.51 37.11 39.60
4 Monetary base (5) 593.16 584.77 635.62
Not seasonally adjusted
5 Total reserves (6) 41.89 38.53 41.20
6 Nonborrowed reserves 41.57 38.32 41.13
7 Required reserves (7) 40.59 37.10 39.55
8 Monetary base (8) 600.72 590.06 639.91
NOT ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.65 38.47 41.08
10 Nonborrowed reserves 41.33 38.26 41.01
11 Required reserves 40.36 37.05 39.43
12 Monetary base (11) 608.02 596.98 648.74
13 Excess reserves (12) 1.30 1.43 1.65
14 Borrowing from the Federal Reserves .32 .21 .07
2003
2002
Item Dec. Feb. Mar.
Seasonally adjusted
ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.22 40.82 40.97
2 Nonborrowed reserves (4) 40.14 40.80 40.95
3 Required reserves 38.21 38.86 39.34
4 Monetary base (5) 681.90 691.31 695.14
Not seasonally adjusted
5 Total reserves (6) 40.13 41.94 40.60
6 Nonborrowed reserves 40.05 41.91 40.57
7 Required reserves (7) 38.12 39.97 38.96
8 Monetary base (8) 686.23 690.25 693.91
NOT ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (9)
9 Total reserves (10) 40.27 41.94 40.60
10 Nonborrowed reserves 40.19 41.91 40.58
11 Required reserves 38.26 39.97 38.96
12 Monetary base (11) 697.15 701.04 705.04
13 Excess reserves (12) 2.01 1.97 1.64
14 Borrowing from the Federal Reserves .08 .03 .02
2003
Item Apr. May June
Seasonally adjusted
ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.81 40.99 42.80
2 Nonborrowed reserves (4) 40.78 40.73 42.63
3 Required reserves 39.27 39.27 40.94
4 Monetary base (5) 698.23 701.18 703.17
Not seasonally adjusted
5 Total reserves (6) 41.16 41.79 41.86
6 Nonborrowed reserves 41.14 41.73 41.70
7 Required reserves (7) 39.63 40.17 40.00
8 Monetary base (8) 697.83 701.58 703.33
NOT ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.17 41.80 41.87
10 Nonborrowed reserves 41.14 41.75 41.71
11 Required reserves 39.64 40.18 40.02
12 Monetary base (11) 709.10 712.76 714.36
13 Excess reserves (12) 1.53 1.62 1.85
14 Borrowing from the Federal Reserves .03 .06 .16
2003
Item July Aug. (r) Sept.
Seasonally adjusted
ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (2)
1 Total reserves (3) 43.93 46.28 44.96
2 Nonborrowed reserves (4) 43.80 45.95 44.78
3 Required reserves 42.00 42.52 43.46
4 Monetary base (5) 703.53 709.22 711.20
Not seasonally adjusted
43.58 46.06 44.38
5 Total reserves (6) 43.44 45.73 44.20
6 Nonborrowed reserves 41.65 42.30 42.88
7 Required reserves (7) 705.80 709.18 709.20
8 Monetary base (8)
NOT ADJUSTED FOR
CHANGES RESERVE REQUIREMENTS (9)
9 Total reserves (10) 43.59 46.08 44.41
10 Nonborrowed reserves 43.46 45.76 44.23
11 Required reserves 41.67 42.32 42.91
12 Monetary base (11) 717.02 (r) 720.49 720.68
13 Excess reserves (12) 1.92 3.76 1.51
14 Borrowing from the Federal Reserves .13 .33 .18
(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 total 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, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks. plus (3) the currency component of the money stock, plus
(4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to
satisfy current reserve requirements. Since February 1984, currency
and vault cash figures have been measured over the computation periods
ending on Mondays.
(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
Item Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,121.4 1,084.7
2 M2 4,649.9 (r) 4,931.5
3 M3 6,535.0 (r) 7,099.4
MI components
4 Currency (3) 517.7 531.5
5 Travelers checks (4) 8.3 8.0
6 Demand deposits (5) 352.1 306.9
7 Other checkable deposits (6) 243.4 238.2
Nontransaction components
8 In M2 (7) 3,528.5 (r) 3,846.8
9 In M3 only (8) 1,885.1 2,167.9
Commercial banks
10 Savings deposits, including MMDAs 1,288.8 1,422.9
11 Small time deposits (9) 634.6 699.5
12 Large time deposits (10) 652.2 718.3
Thrift institutions
13 Savings deposits, including MMDAs 452.0 454.3
14 Small time deposits (9) 319.5 344.8
15 Large time deposits (10) 91.9 103.0
Money market mutual funds
16 Retail 833.6 (r) 925.4
17 Institution-only 634.8 788.8
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 335.7 363.5
19 Eurodollars (12) 170.5 194.3
Not seasonally adjusted
Measures (2)
20 M1 1,147.8 1,112.1
21 M2 4,676.9 (r) 4,966.9
22 M3 6,577.6 (r) 7,154.0
MI components
23 Currency (3) 521.7 535.6
24 Travelers checks (4) 8.4 8.1
25 Demand deposits (5) 371.7 326.7
26 Other checkable deposits (6) 246.0 241.6
Nontransaction components
27 In M2 (7) 3,529.1 (r) 3,854.8
28 In M3 only (8) 1,901.7 2,187.1
Commercial banks
29 Savings deposits, including MMDAs 1,288.7 1,427.5
30 Small time deposits (9) 635.6 700.6
31 Large time deposits (10) 653.6 718.5
Thrift institutions
32 Savings deposits, including MMDAs 451.9 455.8
33 Small time deposits (9) 320.0 345.4
34 Large time deposits (10) 92.1 103.0
Money market mutual funds
35 Retail 832.9 (r) 925.5
36 Institution-only 648.6 806.1
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 334.7 364.2
38 Eurodollars (12) 171.7 195.2
2001 2002
Item Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,172.9 1,210.4
2 M2 5,444.4 (r) 5,791.6 (r)
3 M3 8,004.3 (r) 8,522.6 (r)
MI components
4 Currency (3) 581.9 627.3
5 Travelers checks (4) 7.8 7.5
6 Demand deposits (5) 326.1 297.1
7 Other checkable deposits (6) 257.2 278.5
Nontransaction components
8 In M2 (7) 4,271.5 (r) 4,581.3 (r)
9 In M3 only (8) 2,559.9 2,730.9
Commercial banks
10 Savings deposits, including MMDAs 1,734.6 2,047.9
11 Small time deposits (9) 634.2 591.0
12 Large time deposits (10) 671.1 676.6
Thrift institutions
13 Savings deposits, including MMDAs 572.4 714.5
14 Small time deposits (9) 339.1 302.2
15 Large time deposits (10) 114.9 117.3
Money market mutual funds
16 Retail 991.3 (r) 925.8 (r)
17 Institution-only 1,190.3 1,234.5
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 375.0 474.6
19 Eurodollars (12) 208.6 227.9
Not seasonally adjusted
Measures (2)
20 M1 1,202.9 1,240.3
21 M2 5,487.4 (r) 5,841.0 (r)
22 M3 8,076.1 (r) 8,600.2 (r)
MI components
23 Currency (3) 585.4 630.6
24 Travelers checks (4) 7.9 7.7
25 Demand deposits (5) 348.1 317.5
26 Other checkable deposits (6) 261.5 284.5
Nontransaction components
27 In M2 (7) 4,284.4 (r) 4,600.7 (r)
28 In M3 only (8) 2,588.7 2,759.2
Commercial banks
29 Savings deposits, including MMDAs 1,742.4 2,060.4
30 Small time deposits (9) 635.1 591.7
31 Large time deposits (10) 670.0 675.0
Thrift institutions
32 Savings deposits, including MMDAs 575.1 718.9
33 Small time deposits (9) 339.6 302.5
34 Large time deposits (10) 114.7 117.0
Money market mutual funds
35 Retail 992.3 (r) 927.3 (r)
36 Institution-only 1,218.3 1,262.3
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 376.5 476.4
38 Eurodollars (12) 209.1 228.5
2003
Item June July (r)
Seasonally adjusted
Measures (2)
1 M1 1,272.2 1,278.0
2 M2 6,046.9 (r) 6,097.8
3 M3 8,775.4 (r) 8,905.6
MI components
4 Currency (3) 646.5 646.2
5 Travelers checks (4) 7.9 8.2
6 Demand deposits (5) 322.5 322.6
7 Other checkable deposits (6) 295.3 301.0
Nontransaction components
8 In M2 (7) 4,774.7 (r) 4,819.8
9 In M3 only (8) 2,728.5 2,807.8
Commercial banks
10 Savings deposits, including MMDAs 2,227.6 2,280.1
11 Small time deposits (9) 566.4 557.4
12 Large time deposits (10) 687.3 742.5
Thrift institutions
13 Savings deposits, including MMDAs 802.0 816.4
14 Small time deposits (9) 288.5 285.0
15 Large time deposits (10) 118.0 121.4
Money market mutual funds
16 Retail 890.2 (r) 880.9
17 Institution-only 1,143.8 1,183.9
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 520.2 495.1
19 Eurodollars (12) 259.1 264.9
Not seasonally adjusted
Measures (2)
20 M1 1,269.4 1,274.4
21 M2 6,015.9 (r) 6,063.7
22 M3 8,744.4 (r) 8,846.9
MI components
23 Currency (3) 647.7 648.7
24 Travelers checks (4) 7.7 7.8
25 Demand deposits (5) 318.8 320.1
26 Other checkable deposits (6) 295.2 297.8
Nontransaction components
27 In M2 (7) 4,746.5 (r) 4,789.2
28 In M3 only (8) 2,728.5 2,783.2
Commercial banks
29 Savings deposits, including MMDAs 2,217.5 2,264.2
30 Small time deposits (9) 565.7 (r) 557.2
31 Large time deposits (10) 691.8 742.4
Thrift institutions
32 Savings deposits, including MMDAs 798.3 810.7
33 Small time deposits (9) 288.1 284.9
34 Large time deposits (10) 118.8 121.4
Money market mutual funds
35 Retail 876.8 (r) 872.2
36 Institution-only 1,131.0 1,161.6
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 529.5 496.6
38 Eurodollars (12) 257.4 261.3
2003
Item Aug. (r) Sept.
Seasonally adjusted
Measures (2)
1 M1 1,285.8 1,287.9
2 M2 6,140.7 6,118.4
3 M3 8,930.8 8,908.9
MI components
4 Currency (3) 649.2 653.0
5 Travelers checks (4) 8.0 7.8
6 Demand deposits (5) 322.2 316.9
7 Other checkable deposits (6) 306.3 310.2
Nontransaction components
8 In M2 (7) 4,855.0 4,830.5
9 In M3 only (8) 2,790.1 2,790.5
Commercial banks
10 Savings deposits, including MMDAs 2,316.4 2,302.3
11 Small time deposits (9) 549.7 543.9
12 Large time deposits (10) 740.1 738.7
Thrift institutions
13 Savings deposits, including MMDAs 831.5 838.8
14 Small time deposits (9) 281.0 278.2
15 Large time deposits (10) 123.1 122.8
Money market mutual funds
16 Retail 876.3 867.4
17 Institution-only 1,164.6 1,170.5
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 491.6 493.6
19 Eurodollars (12) 270.8 264.9
Not seasonally adjusted
Measures (2)
20 M1 1,279.6 1,275.5
21 M2 6,119.9 6,092.9
22 M3 8,880.8 8,830.4
MI components
23 Currency (3) 650.4 651.0
24 Travelers checks (4) 7.8 7.7
25 Demand deposits (5) 321.2 312.7
26 Other checkable deposits (6) 300.2 304.1
Nontransaction components
27 In M2 (7) 4,840.3 4,817.4
28 In M3 only (8) 2,760.9 2,737.5
Commercial banks
29 Savings deposits, including MMDAs 2,307.9 2,297.6
30 Small time deposits (9) 550.1 544.4
31 Large time deposits (10) 739.0 739.8
Thrift institutions
32 Savings deposits, including MMDAs 828.4 837.1
33 Small time deposits (9) 281.2 278.4
34 Large time deposits (10) 122.9 123.0
Money market mutual funds
35 Retail 872.7 859.8
36 Institution-only 1,144.1 1,133.2
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 488.1 479.3
38 Eurodollars (12) 266.8 262.3
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 front 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 stuck 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 in all commercial banks other
than those owed to depository Institutions. the U.S. government, and
foreign hanks 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 MI 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
fluids. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and
Canada. Excludes amounts held by depository institutions, the U.S.
government money market funds, and foreign banks and official
institutions. Seasonally adjusted M3 is calculated by summing large
time deposits, institutional money fund balances. RP liabilities, and
eurodollars, well 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 check, 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 to
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
Accounts 2002 2003
Sept. Mar.
Seasonally adjusted
Assets
1 Bank credit 5,721.1 (r) 5,992.0 (r)
2 Securities in bank credit 1,642.6 1,766.1
3 U.S. government securities 962.7 1,072.2
4 Other securities 679.9 693.9
5 Loans and leases in bank credit (2) 4,078.5 (r) 4,225.9 (r)
6 Commercial and industrial 972.8 (r) 947.7 (r)
7 Real estate 1,937.4 2,095.1 (r)
8 Revolving home equity 200.8 230.5
9 Other 1,736.7 (r) 1,864.6 (r)
10 Consumer 582.9 586.9
11 Security (3) 180.9 193.6
12 Other loans and leases 404.4 (r) 402.6 (r)
13 Interbank loans 317.2 313.4 (r)
14 Cash assets (4) 318.1 323.6
15 Other assets (5) 501.0 525.0
16 Total assets (6) 6,782.0 (r) 7,077.5 (r)
Liabilities
17 Deposits 4,478.4 4,585.6
18 Transaction 582.7 619.4
19 Nontransaction 3,895.7 3,966.3
20 Large time 1,044.0 1,001.6
21 Other 2,851.7 2,964.7
22 Borrowings 1,325.8 1,389.8
23 Front banks in the U.S. 415.9 397.3
24 Front others 909.9 992.6
25 Net due to related foreign offices 92.7 135.8
26 Other liabilities 431.2 430.0 (r)
27 Total liabilities 6,328.1 (r) 6,541.2 (r)
28 Residual (assets less liabilities) (7) 453.9 (r) 536.3 (r)
Not Seasonally adjusted
Assets
29 Bank credit 5,717.8 (r) 5,980.8 (r)
30 Securities in bank credit 1,641.4 1,771.1
31 U.S. government securities 962.5 1,077.2
32 Other securities 678.9 693.9
33 Loans and leases in bank credit (2) 4,076.4 (r) 4,209.7 (r)
34 Commercial and industrial 971.2 (r) 949.1 (r)
35 Real estate 1,939.1 (r) 2,086.1 (r)
36 Revolving home equity 201.4 228.4
37 Other 1,737.7 (r) 1,857.6
38 Consumer 581.9 584.7
39 Credit cards and related plans 230.9 219.6
40 Other 351.0 365.0
41 Security (3) 179.4 189.2
42 Other loans and leases 404.8 (r) 400.7 (r)
43 Interbank loans 309.6 (r) 319.9 (r)
44 Cash assets (4) 314.3 312.8
45 Other assets (5) 504.6 524.1
46 Total assets (6) 6,770.8 (r) 7,060.8 (r)
Liabilities
47 Deposits 4,441.7 4,592.8
48 Transaction 577.8 611.0
49 Nontransaction 3,863.9 3,981.8
50 Large time 1,023.5 1,004.3
51 Other 2,840.4 2,977.4
52 Borrowings 1,323.5 1,386.2
53 From banks in the U.S. 409.1 400.7
54 Front others 914.4 985.5
55 Net due to related foreign offices 95.1 (r) 133.9
56 Other liabilities 433.5 426.6 (r)
57 Total liabilities 6,293.8 (r) 6,539.5 (r)
58 Residual (assets less liabilities) (7) 477.0 (r) 521.3 (r)
Monthly averages
Accounts 2002 2003
Apr. May
Seasonally adjusted
Assets
1 Bank credit 6,133.6 (r) 6,133.6 (r)
2 Securities in bank credit 1,778.7 1,837.4
3 U.S. government securities 1,104.4 1,135.2
4 Other securities 674.3 702.2
5 Loans and leases in bank credit (2) 4,247.8 (r) 4,296.2 (r)
6 Commercial and industrial 946.8 (r) 938.5 (r)
7 Real estate 2,111.3 (r) 2,134.2 (r)
8 Revolving home equity 234.8 (r) 238.4 (r)
9 Other 1,876.5 (r) 1,895.8 (r)
10 Consumer 584.6 589.9
11 Security (3) 190.6 210.3
12 Other loans and leases 414.5 (r) 423.2 (r)
13 Interbank loans 304.9 (r) 316.8 (r)
14 Cash assets (4) 319.7 318.3
15 Other assets (5) 528.7 546.1
16 Total assets (6) 7,104.6 7,239.4
Liabilities
17 Deposits 4,612.6 4,643.4
18 Transaction 632.4 634.1
19 Nontransaction 3,980.2 4,009.3
20 Large time 985.5 9,992.0
21 Other 2,994.7 3,010.2
22 Borrowings 1,396.7 1,438.2
23 Front banks in the U.S. 397.1 389.8
24 Front others 999.6 1,048.4
25 Net due to related foreign offices 139.3 146.5
26 Other liabilities 434.7 (r) 459.6 (r)
27 Total liabilities 6,583.2 (r) 6,687.7 (r)
28 Residual (assets less liabilities) (7) 521.4 (r) 551.7 (r)
Not Seasonally adjusted
Assets
29 Bank credit 6,021.0 (r) 6,128.2 (r)
30 Securities in bank credit 1,776.5 1,835.1
31 U.S. government securities 1,104.3 1,133.2
32 Other securities 672.2 702.0
33 Loans and leases in bank credit (2) 4,244.5 (r) 4,293.1 (r)
34 Commercial and industrial 950.6 (r) 942.3 (r)
35 Real estate 2,107.6 (r) 2,138.0 (r)
36 Revolving home equity 234.5 (r) 239.6 (r)
37 Other 1,873.2 (r) 1,898.4 (r)
38 Consumer 581.8 588.7
39 Credit cards and related plans 215.6 221.5
40 Other 366.2 367.2
41 Security (3) 189.8 202.6
42 Other loans and leases 414.7 (r) 421.6 (r)
43 Interbank loans 316.0 (r) 312.6 (r)
44 Cash assets (4) 318.0 314.7
45 Other assets (5) 528.1 544.0
46 Total assets (6) 7,108.0 7,223.8 (r)
Liabilities
47 Deposits 4,637.7 4,636.4
48 Transaction 638.3 623.9
49 Nontransaction 3,999.4 4,012.5
50 Large time 989.9 1,002.8
51 Other 3,009.5 3,009.6
52 Borrowings 1,400.8 1,443.9
53 From banks in the U.S. 401.2 392.2
54 Front others 999.6 1,051.8
55 Net due to related foreign offices 130.2 146.0
56 Other liabilities 423.1 (r) 458.8 (r)
57 Total liabilities 6,591.8 (r) 6,685.1 (r)
58 Residual (assets less liabilities) (7) 516.2 (r) 538.7 (r)
Monthly averages
Accounts 2002 2003
June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 6,189.8 6,201.7
2 Securities in bank credit 1,862.0 1,815.3
3 U.S. government securities 1,151.6 1,115.7
4 Other securities 710.4 699.6
5 Loans and leases in bank credit (2) 4,327.8 4,386.4
6 Commercial and industrial 926.6 929.7
7 Real estate 2,157.1 2,195.0
8 Revolving home equity 244.8 248.9
9 Other 1,912.3 1,946.1
10 Consumer 595.8 596.3
11 Security (3) 212.2 214.8
12 Other loans and leases 436.1 450.7
13 Interbank loans 320.2 321.7
14 Cash assets (4) 331.5 336.4
15 Other assets (5) 549.8 555.5
16 Total assets (6) 7,315.8 7,340.1
Liabilities
17 Deposits 4,702.4 4,748.2
18 Transaction 639.3 655.3
19 Nontransaction 4,063.1 4,092.9
20 Large time 1,003.3 1,021.2
21 Other 3,059.8 3,071.6
22 Borrowings 1,478.1 1,515.1
23 Front banks in the U.S. 408.5 410.6
24 Front others 1,069.6 1,104.4
25 Net due to related foreign offices 126.4 143.0
26 Other liabilities 469.9 438.7
27 Total liabilities 6,776.9 6,844.9
28 Residual (assets less liabilities) (7) 538.9 495.2
Not Seasonally adjusted
Assets
29 Bank credit 6,185.9 6,176.1
30 Securities in bank credit 1,855.9 1,800.1
31 U.S. government securities 1,146.9 1,107.5
32 Other securities 709.0 692.5
33 Loans and leases in bank credit (2) 4,330.1 4,376.0
34 Commercial and industrial 930.7 930.8
35 Real estate 2,158.3 2,193.4
36 Revolving home equity 245.6 249.0
37 Other 1,912.7 1,944.4
38 Consumer 592.4 590.7
39 Credit cards and related plans 223.2 219.9
40 Other 369.3 370.8
41 Security (3) 210.8 208.7
42 Other loans and leases 437.9 452.4
43 Interbank loans 321.4 317.1
44 Cash assets (4) 322.3 325.7
45 Other assets (5) 544.3 553.7
46 Total assets (6) 7,298.3 7,297.7
Liabilities
47 Deposits 4,691.5 4,718.8
48 Transaction 633.9 646.7
49 Nontransaction 4,057.6 4,072.1
50 Large time 1,001.4 1,010.1
51 Other 3,056.2 3,062.0
52 Borrowings 1,477.2 1,508.0
53 From banks in the U.S. 406.7 407.3
54 Front others 1,070.5 1,100.8
55 Net due to related foreign offices 123.5 133.6
56 Other liabilities 466.8 429.3
57 Total liabilities 6,759.0 6,789.8
58 Residual (assets less liabilities) (7) 539.3 507.9
Monthly averages
Accounts 2002 2003
Aug. (r) Sept.
Seasonally adjusted
Assets
1 Bank credit 6,188.9 6,194.4
2 Securities in bank credit 1,773.9 1,778.9
3 U.S. government securities 1,077.2 1,060.6
4 Other securities 696.7 718.3
5 Loans and leases in bank credit (2) 4,415.0 4,415.5
6 Commercial and industrial 921.8 910.6
7 Real estate 2,240.0 2,255.4
8 Revolving home equity 253.2 258.4
9 Other 1,986.8 1,997.0
10 Consumer 597.0 602.0
11 Security (3) 207.0 202.2
12 Other loans and leases 449.3 445.3
13 Interbank loans 327.0 308.0
14 Cash assets (4) 343.7 331.0
15 Other assets (5) 566.6 552.9
16 Total assets (6) 7,350.2 7,310.4
Liabilities
17 Deposits 4,799.7 4,775.7
18 Transaction 655.1 634.8
19 Nontransaction 4,144.6 4,140.9
20 Large time 1,031.8 1,041.6
21 Other 3,112.8 3,099.3
22 Borrowings 1,518.1 1,481.2
23 Front banks in the U.S. 416.0 403.2
24 Front others 1,102.0 1,078.1
25 Net due to related foreign offices 126.8 130.7
26 Other liabilities 428.5 439.2
27 Total liabilities 6,873.0 6,826.8
28 Residual (assets less liabilities) (7) 477.1 483.6
Not Seasonally adjusted
Assets
29 Bank credit 6,168.9 6,190.5
30 Securities in bank credit 1,766.6 1,777.6
31 U.S. government securities 1,073.2 1,060.5
32 Other securities 693.4 717.2
33 Loans and leases in bank credit (2) 4,402.2 4,412.8
34 Commercial and industrial 918.0 908.9
35 Real estate 2,240.1 2,257.4
36 Revolving home equity 253.3 259.3
37 Other 1,986.8 1,998.1
38 Consumer 593.2 600.0
39 Credit cards and related plans 219.9 222.8
40 Other 373.3 377.2
41 Security (3) 201.7 200.0
42 Other loans and leases 449.2 446.5
43 Interbank loans 321.1 301.1
44 Cash assets (4) 327.1 327.2
45 Other assets (5) 563.1 556.9
46 Total assets (6) 7,303.9 7,299.7
Liabilities
47 Deposits 4,749.8 4,739.4
48 Transaction 638.8 629.4
49 Nontransaction 4,111.0 4,110.0
50 Large time 1,015.6 1,022.5
51 Other 3,095.4 3,087.5
52 Borrowings 1,498.1 1,479.4
53 From banks in the U.S. 411.5 396.4
54 Front others 1,086.6 1,083.0
55 Net due to related foreign offices 125.1 133.0
56 Other liabilities 426.8 441.6
57 Total liabilities 6,799.7 6,793.4
58 Residual (assets less liabilities) (7) 504.2 506.4
Monthly averages
Accounts 2002 2003
Sept. 3 Sept. 10
Wednesday figures
Assets
1 Bank credit 6,203.7 6,230.3
2 Securities in bank credit 1,781.0 1,788.8
3 U.S. government securities 1,081.1 1,078.5
4 Other securities 699.9 710.3
5 Loans and leases in bank credit (2) 4,422.7 4,441.5
6 Commercial and industrial 919.8 915.7
7 Real estate 2,258.8 2,278.1
8 Revolving home equity 255.2 256.9
9 Other 2,003.7 2,021.2
10 Consumer 599.8 601.0
11 Security (3) 199.2 201.5
12 Other loans and leases 445.1 445.2
13 Interbank loans 307.7 300.6
14 Cash assets (4) 353.8 316.2
15 Other assets (5) 575.0 566.3
16 Total assets (6) 7,363.9 7,337.5
Liabilities
17 Deposits 4,816.3 4,766.2
18 Transaction 623.7 602.5
19 Nontransaction 4,192.6 4,163.7
20 Large time 1,033.2 1,047.9
21 Other 3,159.4 3,115.8
22 Borrowings 1,496.4 1,507.0
23 Front banks in the U.S. 403.9 395.7
24 Front others 1,092.4 1,111.3
25 Net due to related foreign offices 124.9 135.6
26 Other liabilities 454.6 446.7
27 Total liabilities 6,892.2 6,855.5
28 Residual (assets less liabilities) (7) 471.8 481.9
Not Seasonally adjusted
Assets
29 Bank credit 6,196.6 6,219.2
30 Securities in bank credit 1,782.5 1,789.9
31 U.S. government securities 1,083.0 1,081.2
32 Other securities 699.4 708.8
33 Loans and leases in bank credit (2) 4,414.2 4,429.2
34 Commercial and industrial 915.8 910.3
35 Real estate 2,259.2 2,280.6
36 Revolving home equity 255.6 257.6
37 Other 2,003.5 2,023.0
38 Consumer 597.3 597.8
39 Credit cards and related plans 223.0 221.3
40 Other 374.3 376.6
41 Security (3) 192.3 194.2
42 Other loans and leases 449.6 446.4
43 Interbank loans 311.4 300.3
44 Cash assets (4) 367.5 317.9
45 Other assets (5) 577.7 570.9
46 Total assets (6) 7,376.6 7,331.9
Liabilities
47 Deposits 4,805.5 4,751.0
48 Transaction 636.6 605.0
49 Nontransaction 4,168.9 4,145.9
50 Large time 1,014.4 1,028.5
51 Other 3,154.5 3,117.4
52 Borrowings 1,484.9 1,489.9
53 From banks in the U.S. 398.9 386.2
54 Front others 1,086.0 1,103.7
55 Net due to related foreign offices 125.1 135.5
56 Other liabilities 454.9 446.7
57 Total liabilities 6,870.5 6,823.0
58 Residual (assets less liabilities) (7) 506.1 508.9
Monthly averages
Accounts 2002 2003
Sept. 17 Sept. 24
Wednesday figures
Assets
1 Bank credit 6,190.7 6,157.0
2 Securities in bank credit 1,764.1 1,765.3
3 U.S. government securities 1,052.5 1,046.5
4 Other securities 711.5 718.7
5 Loans and leases in bank credit (2) 4,426.6 4,391.8
6 Commercial and industrial 911.5 908.0
7 Real estate 2,266.0 2,234.9
8 Revolving home equity 258.2 259.6
9 Other 2,007.8 1,975.2
10 Consumer 605.5 603.7
11 Security (3) 197.5 198.6
12 Other loans and leases 446.1 446.6
13 Interbank loans 302.7 308.6
14 Cash assets (4) 334.0 319.8
15 Other assets (5) 534.6 541.5
16 Total assets (6) 7,285.9 7,250.7
Liabilities
17 Deposits 4,773.6 4,766.0
18 Transaction 642.0 672.8
19 Nontransaction 4,131.6 4,093.2
20 Large time 1,037.2 1,046.8
21 Other 3,094.5 3,046.8
22 Borrowings 1,483.0 1,456.5
23 Front banks in the U.S. 411.8 404.5
24 Front others 1,071.2 1,052.0
25 Net due to related foreign offices 130.7 113.4
26 Other liabilities 426.2 425.5
27 Total liabilities 6,813.6 6,761.4
28 Residual (assets less liabilities) (7) 472.3 489.4
Not Seasonally adjusted
Assets
29 Bank credit 6,197.1 6,149.4
30 Securities in bank credit 1,762.9 1,761.2
31 U.S. government securities 1,052.6 1,044.6
32 Other securities 710.3 716.6
33 Loans and leases in bank credit (2) 4,434.2 4,388.2
34 Commercial and industrial 911.1 907.2
35 Real estate 2,269.9 2,236.3
36 Revolving home equity 259.3 260.5
37 Other 2,010.6 1,975.8
38 Consumer 604.3 602.7
39 Credit cards and related plans 226.5 224.7
40 Other 377.8 378.0
41 Security (3) 201.5 198.0
42 Other loans and leases 447.4 444.0
43 Interbank loans 298.6 289.1
44 Cash assets (4) 326.8 306.2
45 Other assets (5) 537.9 541.5
46 Total assets (6) 7,284.1 7,210.2
Liabilities
47 Deposits 4,735.5 4,690.3
48 Transaction 636.3 646.7
49 Nontransaction 4,099.1 4,043.6
50 Large time 1,016.1 1,027.3
51 Other 3,083.2 3,016.3
52 Borrowings 1,486.3 1,464.6
53 From banks in the U.S. 405.5 398.5
54 Front others 1,080.9 1,066.1
55 Net due to related foreign offices 131.1 120.0
56 Other liabilities 426.5 432.0
57 Total liabilities 6,779.4 6,706.9
58 Residual (assets less liabilities) (7) 504.6 503.3
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
Accounts 2002 2003
Sept. Mar.
Seasonally adjusted
Assets
1 Bank credit 5,099.0 (r) 5,328.5 (r)
2 Securities in bank credit 1,392.7 1,482.3
3 U.S. government securities 873.1 (r) 949.7
4 Other securities 519.6 532.6
5 Loans and leases in bank credit (2) 3,706.3 (r) 3,846.2 (r)
6 Commercial and industrial 787.8 (r) 776.0 (r)
7 Real estate 1,918.4 (r) 2,075.2 (r)
8 Revolving home equity 200.8 230.5
9 Other 1,717.7 (r) 1,844.7 (r)
10 Consumer 582.9 586.9
11 Security (3) 85.7 72.2
12 Other loans and leases 331.4 (r) 335.8 (r)
13 Interbank loans 296.0 286.2 (r)
14 Cash assets (4) 271.5 279.7
15 Other assets (5) 474.2 495.0
16 Total assets (6) 6,065.7 (r) 6,313.4 (r)
Liabilities
17 Deposits 3,986.1 (r) 4,137.2
18 Transaction 572.6 607.9
19 Nontransaction 3,413.4 3,529.4
20 Large time 568.1 583.6
21 Other 2,845.3 2,945.8
22 Borrowings 1,098.7 1,096.7
23 Front banks in the U.S. 393.3 363.6
24 Front others 705.4 733.1
25 Net due to related foreign offices 177.4 219.6
26 Other liabilities 339.5 (r) 335.3 (r)
27 Total liabilities 5,601.7 (r) 5,788.7 (r)
28 Residual (assets less liabilities) (7) 464.0 (r) 524.7 (r)
Not seasonally adjusted
Assets
29 Bank credit 5,099.3 (r) 5,319.1 (r)
30 Securities in bank credit 1,391.5 1,487.3
31 U.S. government securities 873.0 954.7
32 Other securities 518.6 532.6
33 Loans and leases in bank credit (2) 3,707.7 (r) 3,831.8 (r)
34 Commercial and industrial 786.3 (r) 775.9 (r)
35 Real estate 1,920.0 (r) 2,066.2 (r)
36 Revolving home equity 201.4 228.4
37 Other 1,718.6 (r) 1,837.8 (r)
38 Consumer 581.9 584.7
39 Credit cards and related plans 230.9 219.6
40 Other 351.0 365.0
41 Security (3) 87.1 71.9
42 Other loans and leases 332.5 (r) 333.1 (r)
43 Interbank loans 288.4 292.6 (r)
44 Cash assets (4) 268.0 270.1
45 Other assets (5) 477.8 493.4
46 Total assets (6) 6,058.4 (r) 6,299.0 (r)
Liabilities
47 Deposits 3,967.6 4,140.3
48 Transaction 567.5 599.8
49 Nontransaction 3,400.1 3,540.5
50 Large time 565.7 582.1
51 Other 2,834.4 2,958.4
52 Borrowings 1,096.4 1,093.0
53 From banks in the U.S. 386.5 367.0
54 Front others 709.9 726.0
55 Net due to related foreign offices 178.2 215.5
56 Other liabilities 340.9 (r) 330.4 (r)
57 Total liabilities 5,583.1 (r) 5,779.2 (r)
58 Residual (assets less liabilities) (7) 475.3 (r) 519.8 (r)
Monthly averages
Accounts 2002 2003
Apr. May
Seasonally adjusted
Assets
1 Bank credit 5,371.5 (r) 5,464.0 (r)
2 Securities in bank credit 1,501.4 1,548.8
3 U.S. government securities 980.2 1,007.8
4 Other securities 521.1 541.0
5 Loans and leases in bank credit (2) 3,870.1 (r) 3,915.2 (r)
6 Commercial and industrial 774.6 (r) 768.1 (r)
7 Real estate 2,092.3 (r) 2,114.9 (r)
8 Revolving home equity 234.8 (r) 238.4 (r)
9 Other 1,857.5 (r) 1,876.5 (r)
10 Consumer 584.6 589.9
11 Security (3) 72.4 91.4
12 Other loans and leases 346.2 (r) 350.8 (r)
13 Interbank loans 282.5 (r) 292.3 (r)
14 Cash assets (4) 270.0 267.3
15 Other assets (5) 496.2 509.5
16 Total assets (6) 6,345.4 6,458.0
Liabilities
17 Deposits 4,178.0 4,210.0
18 Transaction 621.2 623.3
19 Nontransaction 3,556.8 3,586.7
20 Large time 582.2 595.7
21 Other 2,974.5 2,991.3
22 Borrowings 1,098.9 1,133.1
23 Front banks in the U.S. 369.7 358.5
24 Front others 729.2 774.6
25 Net due to related foreign offices 212.2 224.3
26 Other liabilities 344.2 (r) 352.8 (r)
27 Total liabilities 5,833.2 (r) 5,920.2 (r)
28 Residual (assets less liabilities) (7) 512.2 (r) 537.8 (r)
Not seasonally adjusted
Assets
29 Bank credit 5,366.2 (r) 5,463.4 (r)
30 Securities in bank credit 1,499.2 1,546.6
31 U.S. government securities 980.1 1,005.8
32 Other securities 519.1 540.8
33 Loans and leases in bank credit (2) 3,867.0 (r) 3,916.8 (r)
34 Commercial and industrial 779.3 (r) 773.7 (r)
35 Real estate 2,088.6 (r) 2,118.7 (r)
36 Revolving home equity 234.5 (r) 239.6 (r)
37 Other 1,854.1 (r) 1,879.6 (r)
38 Consumer 581.8 588.7
39 Credit cards and related plans 215.6 221.5
40 Other 366.2 367.2
41 Security (3) 71.3 86.0
42 Other loans and leases 345.9 (r) 349.7 (r)
43 Interbank loans 293.6 (r) 288.0 (r)
44 Cash assets (4) 270.4 265.3
45 Other assets (5) 495.8 507.3
46 Total assets (6) 6,351.3 6,448.7 (r)
Liabilities
47 Deposits 4,197.1 4,197.6
48 Transaction 627.7 613.5
49 Nontransaction 3,569.4 3,584.1
50 Large time 580.4 593.9
51 Other 2,989.1 2,990.2
52 Borrowings 1,103.1 1,138.9
53 From banks in the U.S. 373.8 360.8
54 Front others 729.3 778.1
55 Net due to related foreign offices 203.5 223.5
56 Other liabilities 332.8 (r) 351.7 (r)
57 Total liabilities 5,836.5 (r) 5,911.7 (r)
58 Residual (assets less liabilities) (7) 514.7 (r) 537.0 (r)
Monthly averages
Accounts 2002 2003
June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 5,517.5 5,551.8
2 Securities in bank credit 1,573.6 1,547.6
3 U.S. government securities 1,027.4 1,001.8
4 Other securities 546.2 545.8
5 Loans and leases in bank credit (2) 3,943.9 4,004.2
6 Commercial and industrial 763.3 767.1
7 Real estate 2,137.6 2,175.6
8 Revolving home equity 244.8 248.9
9 Other 1,892.9 1,926.7
10 Consumer 595.8 596.3
11 Security (3) 90.3 95.9
12 Other loans and leases 356.8 369.3
13 Interbank loans 289.5 288.5
14 Cash assets (4) 277.1 282.4
15 Other assets (5) 513.0 522.3
16 Total assets (6) 6,522.2 6,570.4
Liabilities
17 Deposits 4,259.8 4,294.8
18 Transaction 627.9 643.9
19 Nontransaction 3,631.9 3,650.9
20 Large time 590.4 586.2
21 Other 3,041.5 3,064.7
22 Borrowings 1,162.3 1,218.0
23 Front banks in the U.S. 373.8 373.9
24 Front others 788.5 844.2
25 Net due to related foreign offices 208.3 229.0
26 Other liabilities 356.4 329.8
27 Total liabilities 5,986.9 6,071.7
28 Residual (assets less liabilities) (7) 535.4 498.8
Not seasonally adjusted
Assets
29 Bank credit 5,517.1 5,533.6
30 Securities in bank credit 1,567.5 1,532.4
31 U.S. government securities 1,022.7 993.7
32 Other securities 544.8 538.7
33 Loans and leases in bank credit (2) 3,949.6 4,001.3
34 Commercial and industrial 767.9 769.2
35 Real estate 2,138.9 2,174.0
36 Revolving home equity 245.6 249.0
37 Other 1,893.3 1,925.0
38 Consumer 592.4 590.7
39 Credit cards and related plans 223.2 219.9
40 Other 369.3 370.8
41 Security (3) 91.4 94.6
42 Other loans and leases 359.0 372.7
43 Interbank loans 290.8 284.0
44 Cash assets (4) 270.5 274.7
45 Other assets (5) 509.1 521.6
46 Total assets (6) 6,512.3 6,539.4
Liabilities
47 Deposits 4,250.7 4,275.1
48 Transaction 622.9 635.3
49 Nontransaction 3,627.9 3,639.8
50 Large time 589.9 584.6
51 Other 3,037.9 3,055.2
52 Borrowings 1,161.4 1,211.0
53 From banks in the U.S. 372.0 370.5
54 Front others 789.4 840.5
55 Net due to related foreign offices 207.3 222.9
56 Other liabilities 354.9 323.1
57 Total liabilities 5,974.3 6,032.1
58 Residual (assets less liabilities) (7) 538.0 507.3
Monthly averages
Accounts 2002 2003
Aug. (r) Sept.
Seasonally adjusted
Assets
1 Bank credit 5,558.3 5,564.5
2 Securities in bank credit 1,506.4 1,505.5
3 U.S. government securities 970.6 953.2
4 Other securities 535.7 552.3
5 Loans and leases in bank credit (2) 4,052.0 4,059.0
6 Commercial and industrial 765.7 759.4
7 Real estate 2,220.9 2,236.5
8 Revolving home equity 253.2 258.4
9 Other 1,967.8 1,978.1
10 Consumer 597.0 602.0
11 Security (3) 95.4 88.9
12 Other loans and leases 373.0 372.2
13 Interbank loans 294.6 277.4
14 Cash assets (4) 289.4 277.9
15 Other assets (5) 530.3 522.9
16 Total assets (6) 6,597.0 6,567.2
Liabilities
17 Deposits 4,344.5 4,324.7
18 Transaction 643.3 623.9
19 Nontransaction 3,701.2 3,700.8
20 Large time 600.2 604.9
21 Other 3,101.0 3,095.9
22 Borrowings 1,224.4 1,191.0
23 Front banks in the U.S. 382.2 369.5
24 Front others 842.3 821.4
25 Net due to related foreign offices 230.3 230.2
26 Other liabilities 312.4 328.7
27 Total liabilities 6,111.7 6,074.6
28 Residual (assets less liabilities) (7) 485.3 492.6
Not seasonally adjusted
Assets
29 Bank credit 5,544.8 5,564.7
30 Securities in bank credit 1,499.1 1,504.3
31 U.S. government securities 966.7 953.1
32 Other securities 532.4 551.2
33 Loans and leases in bank credit (2) 4,045.7 4,060.4
34 Commercial and industrial 763.1 757.8
35 Real estate 221.0 2,238.5
36 Revolving home equity 253.3 259.3
37 Other 1,967.7 1,979.3
38 Consumer 593.2 600.0
39 Credit cards and related plans 219.9 222.8
40 Other 373.3 377.2
41 Security (3) 94.2 90.1
42 Other loans and leases 374.2 374.0
43 Interbank loans 288.7 270.5
44 Cash assets (4) 275.0 274.5
45 Other assets (5) 527.3 527.0
46 Total assets (6) 6,560.0 6,561.1
Liabilities
47 Deposits 4,310.0 4,304.9
48 Transaction 627.3 618.3
49 Nontransaction 3,682.7 3,686.6
50 Large time 598.8 602.3
51 Other 3,084.0 3,084.2
52 Borrowings 1,204.5 1,189.1
53 From banks in the U.S. 377.6 362.8
54 Front others 826.8 826.3
55 Net due to related foreign offices 230.0 231.3
56 Other liabilities 311.9 330.0
57 Total liabilities 6,056.5 6,055.3
58 Residual (assets less liabilities) (7) 503.6 505.8
Monthly averages
Accounts 2002 2003
Sept. 3 Sept. 10
Wednesday figures
Assets
1 Bank credit 5,574.2 5,592.1
2 Securities in bank credit 1,508.7 1,515.3
3 U.S. government securities 974.0 969.1
4 Other securities 534.7 546.2
5 Loans and leases in bank credit (2) 4,065.5 4,076.8
6 Commercial and industrial 765.6 762.5
7 Real estate 2,239.9 2,259.2
8 Revolving home equity 255.2 256.9
9 Other 1,984.8 2,002.2
10 Consumer 599.8 601.0
11 Security (3) 88.6 83.4
12 Other loans and leases 371.6 370.8
13 Interbank loans 274.2 267.4
14 Cash assets (4) 298.3 262.8
15 Other assets (5) 544.5 536.5
16 Total assets (6) 6,615.3 6,583.3
Liabilities
17 Deposits 4,367.5 4,311.2
18 Transaction 612.4 591.1
19 Nontransaction 3,755.2 3,720.1
20 Large time 604.9 607.4
21 Other 3,150.2 3,112.8
22 Borrowings 1,204.5 1,213.2
23 Front banks in the U.S. 368.6 366.2
24 Front others 835.9 847.0
25 Net due to related foreign offices 225.6 235.6
26 Other liabilities 339.2 332.3
27 Total liabilities 6,136.7 6,092.3
28 Residual (assets less liabilities) (7) 478.6 491.0
Not seasonally adjusted
Assets
29 Bank credit 5,576.6 5,589.3
30 Securities in bank credit 1,510.0 1,516.4
31 U.S. government securities 976.0 971.7
32 Other securities 534.2 544.7
33 Loans and leases in bank credit (2) 4,066.5 4,072.9
34 Commercial and industrial 762.8 758.1
35 Real estate 2,240.3 2,261.6
36 Revolving home equity 255.6 257.6
37 Other 1,984.6 2,004.0
38 Consumer 597.3 597.8
39 Credit cards and related plans 223.0 221.3
40 Other 374.3 376.6
41 Security (3) 89.5 82.6
42 Other loans and leases 376.5 372.7
43 Interbank loans 277.8 267.1
44 Cash assets (4) 313.8 266.1
45 Other assets (5) 547.1 540.9
46 Total assets (6) 6,639.2 6,587.5
Liabilities
47 Deposits 4,375.0 4,315.4
48 Transaction 625.3 593.8
49 Nontransaction 3,749.7 3,721.6
50 Large time 604.0 607.2
51 Other 3,145.6 3,114.5
52 Borrowings 1,193.0 1,196.1
53 From banks in the U.S. 363.6 356.8
54 Front others 829.5 839.3
55 Net due to related foreign offices 226.0 235.4
56 Other liabilities 339.7 332.2
57 Total liabilities 6,133.7 6,079.2
58 Residual (assets less liabilities) (7) 505.5 508.3
Monthly averages
Accounts 2002 2003
Sept. 17 Sept. 24
Wednesday figures
Assets
1 Bank credit 5,563.3 5,531.1
2 Securities in bank credit 1,496.0 1,494.1
3 U.S. government securities 946.2 939.7
4 Other securities 549.8 554.3
5 Loans and leases in bank credit (2) 4,067.2 4,037.0
6 Commercial and industrial 758.9 757.7
7 Real estate 2,247.1 2,216.1
8 Revolving home equity 298.2 259.6
9 Other 1,989.0 1,956.4
10 Consumer 605.5 603.7
11 Security (3) 84.1 85.7
12 Other loans and leases 371.6 373.9
13 Interbank loans 273.3 278.3
14 Cash assets (4) 277.4 269.9
15 Other assets (5) 508.6 511.2
16 Total assets (6) 6,546.9 6,514.8
Liabilities
17 Deposits 4,323.9 4,312.1
18 Transaction 631.3 662.4
19 Nontransaction 3,692.6 3,649.7
20 Large time 600.3 607.0
21 Other 3,092.3 3,042.7
22 Borrowings 1,191.2 1,175.3
23 Front banks in the U.S. 376.4 372.6
24 Front others 814.8 802.7
25 Net due to related foreign offices 224.9 213.5
26 Other liabilities 319.7 319.0
27 Total liabilities 6,059.6 6,020.0
28 Residual (assets less liabilities) (7) 487.3 494.8
Not seasonally adjusted
Assets
29 Bank credit 5,571.0 5,525.4
30 Securities in bank credit 1,494.9 1,490.0
31 U.S. government securities 946.3 937.8
32 Other securities 548.6 552.2
33 Loans and leases in bank credit (2) 4,076.1 4,035.4
34 Commercial and industrial 758.5 756.5
35 Real estate 2,251.0 2,217.5
36 Revolving home equity 259.3 260.5
37 Other 1,991.7 1,957.0
38 Consumer 604.3 602.7
39 Credit cards and related plans 226.5 224.7
40 Other 377.8 378.0
41 Security (3) 88.7 86.5
42 Other loans and leases 373.6 372.2
43 Interbank loans 269.3 258.7
44 Cash assets (4) 271.3 255.7
45 Other assets (5) 511.9 511.4
46 Total assets (6) 6,547.4 6,475.7
Liabilities
47 Deposits 4,305.1 4,250.3
48 Transaction 625.6 635.9
49 Nontransaction 3,679.4 3,614.4
50 Large time 598.4 601.7
51 Other 3,081.1 3,012.7
52 Borrowings 1,194.5 1,183.4
53 From banks in the U.S. 370.1 366.7
54 Front others 824.4 816.8
55 Net due to related foreign offices 224.5 216.7
56 Other liabilities 319.3 322.6
57 Total liabilities 6,043.4 5,973.0
58 Residual (assets less liabilities) (7) 504.0 502.7
C. Large domestically chartered commercial banks
Billions of dollars
Monthly average
2002 2003
Account Sept. (r) Mar. (r)
Seasonally adjusted
Assets
1 Bank credit 2,800.6 2,930.1
2 Securities in bank credit 745.5 803.7
3 U.S. government securities 432.7 477.1
4 Trading account 42.4 41.8
5 Investment account 390.3 435.3
6 Other securities 312.8 326.6
7 Trading account 171.3 171.6
8 Investment account 141.5 155.0
9 State and local government 28.4 30.1
10 Other 113.1 124.9
11 Loans and leases in bank credit (2) 2,055.1 2,126.3
12 Commercial and industrial 496.8 478.2
13 Bankers acceptances .0 .0
14 Other 496.8 478.2
15 Real estate 929.5 1,038.3
16 Revolving home equity 127.6 147.8
17 Other 801.9 890.5
18 Consumer 319.5 314.2
19 Security (3) 78.6 64.1
20 Federal funds sold to and
repurchase agreements
with broker--dealers 68.6 52.6
21 Other 9.9 11.4
22 State and local government 13.1 12.5
23 Agricultural 8.3 7.9
24 Federal funds sold to and
repurchase agreements with
others 20.5 23.6
25 All other loans 68.9 77.1
26 Lease-financing receivables 120.0 110.5
27 Interbank loans 197.4 171.9
28 Federal funds sold to and
repurchase agreements with
commercial banks 101.8 100.4
29 Other 95.6 71.5
30 Cash asset (4) 148.6 148.4
31 Other assets (5) 329.2 347.6
32 Total assets (6) 3,431.9 3,553.0
Liabilities
33 Deposits 1,932.1 2,016.6
34 Transaction 274.5 291.2
35 Nontransaction 1,657.6 1,725.5
36 Large time 267.8 269.1
37 Other 1,389.8 1,456.3
38 Borrowings 744.8 699.8
39 From banks in the U.S. 269.4 208.1
40 From others 475.4 491.7
41 Net due to related foreign offices 168.8 208.9
42 Other liabilities 273.2 255.6
43 Total liabilities 3,118.9 3,180.9
44 Residual (assets less liabilities) (7) 313.0 372.0
Not seasonally adjusted
Assets
45 Bank credit 2,798.5 2,923.9
46 Securities in bank credit 744.0 806.1
47 U.S. government securities 432.5 479.4
48 Trading account 42.4 42.1
49 Investment account 390.1 437.3
50 Mortgage-backed securities 310.2 334.8
51 Other 79.8 102.5
52 One year or less 20.0 24.5
53 One to five years 46.8 57.6
54 More than five years 13.0 20.4
55 Other securities 311.7 326.7
56 Trading account 170.7 171.7
57 Investment account 141.0 155.0
58 State and local government 28.4 30.1
59 Other 112.7 124.9
60 Loans and leases in bank credit (2) 2,054.3 2,117.9
61 Commercial and industrial 497.0 478.2
62 Bankers acceptances .0 .0
63 Other 497.0 478.2
64 Real estate 930.5 1,031.5
65 Revolving home equity 128.0 146.2
66 Other 483.4 561.3
67 Commercial 319.1 323.9
68 Consumer 316.5 314.8
69 Credit cards and related plans 118.6 105.9
70 Other 197.9 208.9
71 Security (3) 80.0 63.5
72 Federal funds sold to and
repurchase agreements
with broker--dealers 69.9 52.2
73 Other 10.1 11.3
74 State and local government 13.1 12.5
75 Agricultural 8.3 7.8
76 Federal fund sold to and
repurchase agreements
with others 20.5 23.6
77 All other loans 70.0 74.9
78 Lease-financing receivables 118.5 111.2
79 Interbank loons 191.5 171.9
80 Federal funds sold to and
repurchase agreements
with commercial banks 99.0 100.4
81 Other 92.5 71.5
82 Cash assets (4) 145.5 143.4
83 Other assets (5) 332.8 346.0
84 Total assets (6) 3,424.4 3,540.0
Liabilities
85 Deposits 1,924.5 2,014.7
86 Transaction 270.1 286.8
87 Nontransaction 1,654.4 1,727.9
88 Large time 265.4 267.7
89 Other 1,388.9 1,460.2
90 Borrowings 742.5 696.1
91 From banks in the U.S. 262.6 211.5
92 From nonbanks in the U.S. 479.9 484.6
93 Net due to related foreign offices 169.6 204.8
94 Other liabilities 274.6 250.7
95 Total liabililies 3,111.1 3,166.4
96 Residual (assets less liabilities) (7) 313.2 373.6
Monthly average
2003
Account Apr. (r) May. (r)
Seasonally adjusted
Assets
1 Bank credit 2,950.2 3,025.3
2 Securities in bank credit 810.6 857.1
3 U.S. government securities 493.8 520.5
4 Trading account 40.7 43.6
5 Investment account 453.1 476.9
6 Other securities 316.8 336.6
7 Trading account 161.5 183.4
8 Investment account 155.3 153.2
9 State and local government 30.9 31.3
10 Other 124.4 121.9
11 Loans and leases in bank credit (2) 2,139.6 2,168.2
12 Commercial and industrial 476.1 468.1
13 Bankers acceptances .0 .0
14 Other 476.0 468.1
15 Real estate 1,044.0 1,058.8
16 Revolving home equity 150.4 152.9
17 Other 893.6 906.0
18 Consumer 312.8 313.1
19 Security (3) 64.3 82.6
20 Federal funds sold to and
repurchase agreements
with broker--dealers 52.4 63.0
21 Other 11.8 19.5
22 State and local government 12.4 12.4
23 Agricultural 7.7 7.5
24 Federal funds sold to and
repurchase agreements with
others 24.7 26.5
25 All other loans 88.2 89.5
26 Lease-financing receivables 109.4 109.8
27 Interbank loans 171.2 171.1
28 Federal funds sold to and
repurchase agreements with
commercial banks 99.2 100.8
29 Other 72.0 70.2
30 Cash asset (4) 135.9 132.9
31 Other assets (5) 347.3 356.6
32 Total assets (6) 3,560.5 3,641.6
Liabilities
33 Deposits 2,041.2 2,047.9
34 Transaction 296.4 297.5
35 Nontransaction 1,744.8 1,750.4
36 Large time 267.2 279.2
37 Other 1,477.5 1,471.3
38 Borrowings 697.5 72.0
39 From banks in the U.S. 212.4 203.6
40 From others 485.2 519.4
41 Net due to related foreign offices 199.3 211.9
42 Other liabilities 264.7 272.7
43 Total liabilities 3,202.7 3,255.6
44 Residual (assets less liabilities) (7) 357.8 386.1
Not seasonally adjusted
Assets
45 Bank credit 2,946.7 3,026.3
46 Securities in bank credit 807.0 855.6
47 U.S. government securities 492.2 519.3
48 Trading account 40.6 43.5
49 Investment account 451.6 475.8
50 Mortgage-backed securities 354.4 380.3
51 Other 97.2 95.5
52 One year or less 24.7 23.3
53 One to five years 55.5 55.4
54 More than five years 17.0 16.7
55 Other securities 314.7 336.3
56 Trading account 160.5 183.2
57 Investment account 154.3 153.1
58 State and local government 30.7 31.3
59 Other 123.6 121.8
60 Loans and leases in bank credit (2) 2,139.7 2,170.7
61 Commercial and industrial 478.6 471.1
62 Bankers acceptances .0 .0
63 Other 478.6 471.1
64 Real estate 1,042.2 1,063.2
65 Revolving home equity 150.4 154.0
66 Other 570.0 588.5
67 Commercial 321.8 320.7
68 Consumer 313.4 313.9
69 Credit cards and related plans 103.6 103.9
70 Other 209.8 210.0
71 Security (3) 62.9 77.3
72 Federal funds sold to and
repurchase agreements
with broker--dealers 51.4 59.0
73 Other 11.6 18.3
74 State and local government 12.4 12.4
75 Agricultural 7.7 7.6
76 Federal fund sold to and
repurchase agreements
with others 24.7 26.5
77 All other loans 88.0 88.9
78 Lease-financing receivables 109.8 109.8
79 Interbank loons 174.5 171.8
80 Federal funds sold to and
repurchase agreements
with commercial banks 101.0 101.3
81 Other 73.4 70.5
82 Cash assets (4) 138.6 132.0
83 Other assets (5) 346.8 354.4
84 Total assets (6) 3,562.6 3,640.1
Liabilities
85 Deposits 2,048.6 2,043.6
86 Transaction 302.5 293.2
87 Nontransaction 1,746.1 1,750.4
88 Large time 265.4 277.3
89 Other 1,480.7 1,473.1
90 Borrowings 701.7 728.8
91 From banks in the U.S. 216.5 205.9
92 From nonbanks in the U.S. 485.2 522.8
93 Net due to related foreign offices 190.7 211.0
94 Other liabilities 253.3 271.7
95 Total liabililies 3,194.3 3,255.1
96 Residual (assets less liabilities) (7) 368.3 385.0
Monthly average
2003
Account June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 3,054.9 3,062.1
2 Securities in bank credit 880.8 845.7
3 U.S. government securities 536.7 504.4
4 Trading account 38.8 38.5
5 Investment account 497.9 465.9
6 Other securities 344.0 341.3
7 Trading account 187.9 172.6
8 Investment account 156.1 168.8
9 State and local government 32.2 32.3
10 Other 123.9 136.5
11 Loans and leases in bank credit (2) 2,174.2 2,216.4
12 Commercial and industrial 461.5 463.9
13 Bankers acceptances .0 .0
14 Other 461.5 463.9
15 Real estate 1,066.5 1,090.5
16 Revolving home equity 156.4 160.1
17 Other 910.1 930.4
18 Consumer 314.6 312.1
19 Security (3) 80.9 86.6
20 Federal funds sold to and
repurchase agreements
with broker--dealers 63.5 68.7
21 Other 17.4 17.9
22 State and local government 12.7 13.0
23 Agricultural 7.4 7.3
24 Federal funds sold to and
repurchase agreements with
others 28.0 25.9
25 All other loans 91.8 107.2
26 Lease-financing receivables 110.7 109.9
27 Interbank loans 165.2 168.9
28 Federal funds sold to and
repurchase agreements with
commercial banks 97.8 97.8
29 Other 67.4 71.1
30 Cash asset (4) 140.4 142.1
31 Other assets (5) 359.3 364.2
32 Total assets (6) 3,675.6 3,693.7
Liabilities
33 Deposits 2,077.3 2,095.0
34 Transaction 300.4 307.4
35 Nontransaction 1,776.9 1,787.7
36 Large time 271.1 269.0
37 Other 1,505.8 1,518.7
38 Borrowings 746.8 794.4
39 From banks in the U.S. 216.7 213.9
40 From others 530.1 580.5
41 Net due to related foreign offices 196.3 217.2
42 Other liabilities 277.0 249.2
43 Total liabilities 3,297.4 3,355.8
44 Residual (assets less liabilities) (7) 378.3 337.9
Not seasonally adjusted
Assets
45 Bank credit 3,056.8 3,049.1
46 Securities in bank credit 875.1 832.4
47 U.S. government securities 532.5 498.1
48 Trading account 38.5 38.0
49 Investment account 493.9 460.1
50 Mortgage-backed securities 389.5 364.2
51 Other 104.4 95.9
52 One year or less 24.4 24.2
53 One to five years 57.6 51.5
54 More than five years 22.4 20.2
55 Other securities 342.6 334.3
56 Trading account 187.2 169.0
57 Investment account 155.4 165.3
58 State and local government 32.1 31.6
59 Other 123.4 133.7
60 Loans and leases in bank credit (2) 2,181.8 2,216.7
61 Commercial and industrial 463.8 465.1
62 Bankers acceptances .0 .0
63 Other 463.8 465.1
64 Real estate 1,069.0 1,090.6
65 Revolving home equity 157.4 160.6
66 Other 591.7 613.2
67 Commercial 319.9 316.8
68 Consumer 314.8 310.2
69 Credit cards and related plans 104.9 100.0
70 Other 209.9 210.3
71 Security (3) 82.1 85.4
72 Federal funds sold to and
repurchase agreements
with broker--dealers 64.5 67.8
73 Other 17.6 17.6
74 State and local government 12.7 13.0
75 Agricultural 7.5 7.4
76 Federal fund sold to and
repurchase agreements
with others 28.0 25.9
77 All other loans 93.6 109.7
78 Lease-financing receivables 110.3 109.4
79 Interbank loons 169.4 169.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 100.3 97.9
81 Other 69.1 71.1
82 Cash assets (4) 136.0 136.7
83 Other assets (5) 355.3 363.6
84 Total assets (6) 3,673.2 3,674.8
Liabilities
85 Deposits 2,077.7 2,089.1
86 Transaction 297.6 301.4
87 Nontransaction 1,780.2 1,787.6
88 Large time 270.7 267.4
89 Other 1,509.5 1,520.3
90 Borrowings 745.9 787.3
91 From banks in the U.S. 214.8 210.5
92 From nonbanks in the U.S. 531.0 576.8
93 Net due to related foreign offices 195.2 211.1
94 Other liabilities 275.5 242.4
95 Total liabililies 3,294.4 3,330.0
96 Residual (assets less liabilities) (7) 378.8 344.9
Monthly average
2003
Account Aug. (r) Sept.
Seasonally adjusted
Assets
1 Bank credit 3,049.8 3,057.4
2 Securities in bank credit 801.2 804.7
3 U.S. government securities 469.4 456.9
4 Trading account 34.7 38.1
5 Investment account 434.7 418.8
6 Other securities 331.8 347.8
7 Trading account 162.3 178.3
8 Investment account 169.6 169.5
9 State and local government 31.4 31.5
10 Other 138.2 138.1
11 Loans and leases in bank credit (2) 2,248.6 2,252.8
12 Commercial and industrial 458.6 450.4
13 Bankers acceptances .0 .0
14 Other 458.6 450.4
15 Real estate 1,123.8 1,139.5
16 Revolving home equity 163.7 168.1
17 Other 960.1 971.3
18 Consumer 313.2 316.5
19 Security (3) 86.0 79.6
20 Federal funds sold to and
repurchase agreements
with broker--dealers 66.8 62.1
21 Other 19.2 17.6
22 State and local government 13.3 13.4
23 Agricultural 7.4 7.5
24 Federal funds sold to and
repurchase agreements with
others 24.3 26.6
25 All other loans 112.6 110.1
26 Lease-financing receivables 109.4 109.3
27 Interbank loans 178.5 164.4
28 Federal funds sold to and
repurchase agreements with
commercial banks 99.0 95.6
29 Other 79.5 68.8
30 Cash asset (4) 146.8 139.4
31 Other assets (5) 367.6 358.3
32 Total assets (6) 3,698.6 3,675.7
Liabilities
33 Deposits 2,129.4 2,114.8
34 Transaction 304.3 291.0
35 Nontransaction 1,825.1 1,823.9
36 Large time 283.3 286.4
37 Other 1,541.9 1,537.4
38 Borrowings 786.2 751.1
39 From banks in the U.S. 213.4 204.7
40 From others 572.8 546.4
41 Net due to related foreign offices 218.3 216.2
42 Other liabilities 231.7 248.7
43 Total liabilities 3,365.6 3,330.7
44 Residual (assets less liabilities) (7) 333.0 344.9
Not seasonally adjusted
Assets
45 Bank credit 3,039.0 3,055.6
46 Securities in bank credit 795.7 803.3
47 U.S. government securities 467.2 456.6
48 Trading account 34.6 38.1
49 Investment account 432.6 418.6
50 Mortgage-backed securities 335.5 320.8
51 Other 97.1 97.7
52 One year or less 24.5 24.1
53 One to five years 52.8 53.1
54 More than five years 19.8 20.5
55 Other securities 328.5 346.7
56 Trading account 160.6 177.7
57 Investment account 167.9 169.0
58 State and local government 31.1 31.4
59 Other 136.8 137.6
60 Loans and leases in bank credit (2) 2,243.7 2,252.2
61 Commercial and industrial 457.3 450.6
62 Bankers acceptances .0 .0
63 Other 457.3 450.6
64 Real estate 1,124.7 1,140.8
65 Revolving home equity 164.2 168.7
66 Other 643.5 654.7
67 Commercial 316.9 317.5
68 Consumer 310.6 312.8
69 Credit cards and related plans 99.7 99.2
70 Other 210.9 213.6
71 Security (3) 84.8 81.0
72 Federal funds sold to and
repurchase agreements
with broker--dealers 65.9 63.1
73 Other 18.9 17.9
74 State and local government 13.3 13.4
75 Agricultural 7.5 7.4
76 Federal fund sold to and
repurchase agreements
with others 24.3 26.6
77 All other loans 112.9 111.8
78 Lease-financing receivables 108.4 107.8
79 Interbank loons 173.4 159.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 96.3 92.4
81 Other 77.1 66.5
82 Cash assets (4) 137.1 136.5
83 Other assets (5) 364.6 362.3
84 Total assets (6) 3,670.3 3,669.4
Liabilities
85 Deposits 2,113.0 2,106.3
86 Transaction 292.1 286.2
87 Nontransaction 1,820.9 1,820.1
88 Large time 281.8 283.8
89 Other 1,539.1 1,536.3
90 Borrowings 766.2 749.3
91 From banks in the U.S. 208.9 197.9
92 From nonbanks in the U.S. 557.4 551.4
93 Net due to related foreign offices 218.0 217.3
94 Other liabilities 231.2 250.0
95 Total liabililies 3,328.4 3,322.8
96 Residual (assets less liabilities) (7) 341.8 346.7
Wednesday figures
2003
Account Sept. 3 Sept. 10
Seasonally adjusted
Assets
1 Bank credit 3,064.2 3,076.6
2 Securities in bank credit 805.3 809.4
3 U.S. government securities 473.7 467.5
4 Trading account 43.6 44.7
5 Investment account 430.1 422.8
6 Other securities 331.6 341.9
7 Trading account 163.3 173.5
8 Investment account 168.3 168.4
9 State and local government 31.2 31.4
10 Other 137.1 137.1
11 Loans and leases in bank credit (2) 2,258.9 2,267.2
12 Commercial and industrial 457.6 453.3
13 Bankers acceptances n.a. n.a.
14 Other 457.6 453.3
15 Real estate 1,141.4 1,157.1
16 Revolving home equity 165.4 166.9
17 Other 976.0 990.1
18 Consumer 314.6 316.6
19 Security (3) 79.3 74.3
20 Federal funds sold to and
repurchase agreements
with broker--dealers 61.7 56.7
21 Other 17.6 17.7
22 State and local government 13.3 13.3
23 Agricultural 7.5 7.5
24 Federal funds sold to and
repurchase agreements with
others 25.1 24.7
25 All other loans 110.6 111.0
26 Lease-financing receivables 109.5 109.5
27 Interbank loans 160.3 159.7
28 Federal funds sold to and
repurchase agreements with
commercial banks 94.2 90.6
29 Other 66.1 69.1
30 Cash asset (4) 157.5 130.7
31 Other assets (5) 376.0 375.6
32 Total assets (6) 3,713.8 3,698.9
Liabilities
33 Deposits 2,144.3 2,107.5
34 Transaction 284.6 273.1
35 Nontransaction 1,859.7 1,834.4
36 Large time 288.1 288.0
37 Other 1,571.6 1,546.4
38 Borrowings 772.8 773.4
39 From banks in the U.S. 212.9 210.3
40 From others 559.9 563.1
41 Net due to related foreign offices 211.9 221.5
42 Other liabilities 257.5 252.4
43 Total liabilities 3,386.4 3,354.8
44 Residual (assets less liabilities) (7) 327.4 344.0
Not seasonally adjusted
Assets
45 Bank credit 3,067.3 3,073.5
46 Securities in bank credit 807.7 810.2
47 U.S. government securities 476.6 469.9
48 Trading account 43.9 44.9
49 Investment account 432.7 425.0
50 Mortgage-backed securities 334.2 327.7
51 Other 98.5 97.3
52 One year or less 24.6 25.0
53 One to five years 54.4 52.4
54 More than five years 19.6 19.9
55 Other securities 331.1 340.3
56 Trading account 163.1 172.7
57 Investment account 168.0 167.7
58 State and local government 31.1 31.2
59 Other 136.9 136.4
60 Loans and leases in bank credit (2) 2,259.6 2,263.2
61 Commercial and industrial 456.8 451.7
62 Bankers acceptances n.a. n.a.
63 Other 456.8 451.7
64 Real estate 1,142.8 1,160.0
65 Revolving home equity 166.2 167.5
66 Other 660.1 675.5
67 Commercial 316.5 317.0
68 Consumer 311.8 312.8
69 Credit cards and related plans 100.1 99.5
70 Other 211.7 213.3
71 Security (3) 79.9 73.2
72 Federal funds sold to and
repurchase agreements
with broker--dealers 62.2 55.8
73 Other 17.7 17.4
74 State and local government 13.3 13.3
75 Agricultural 7.5 7.5
76 Federal fund sold to and
repurchase agreements
with others 25.1 24.7
77 All other loans 114.2 112.1
78 Lease-financing receivables 108.3 107.9
79 Interbank loons 158.4 151.6
80 Federal funds sold to and
repurchase agreements
with commercial banks 93.1 86.0
81 Other 65.3 65.6
82 Cash assets (4) 163.5 129.9
83 Other assets (5) 378.6 380.1
84 Total assets (6) 3,723.3 3,690.8
Liabilities
85 Deposits 2,152.6 2,111.1
86 Transaction 288.7 270.0
87 Nontransaction 1,863.9 1,841.1
88 Large time 287.2 287.8
89 Other 1,576.6 1,553.3
90 Borrowings 761.4 756.3
91 From banks in the U.S. 207.9 200.8
92 From nonbanks in the U.S. 553.5 555.5
93 Net due to related foreign offices 212.2 221.3
94 Other liabilities 258.0 252.4
95 Total liabililies 3,384.1 3,341.2
96 Residual (assets less liabilities) (7) 339.2 349.6
Wednesday figures
2003
Account Sept. 17 Sept. 24
Seasonally adjusted
Assets
1 Bank credit 3,055.5 3,031.5
2 Securities in bank credit 797.3 796.5
3 U.S. government securities 451.5 446.5
4 Trading account 39.1 29.8
5 Investment account 412.4 416.7
6 Other securities 345.8 350.0
7 Trading account 176.7 180.7
8 Investment account 169.1 169.3
9 State and local government 31.4 31.6
10 Other 137.7 137.6
11 Loans and leases in bank credit (2) 2,258.2 2,235.0
12 Commercial and industrial 449.8 448.8
13 Bankers acceptances n.a. n.a.
14 Other 449.8 448.8
15 Real estate 1,148.9 1,123.1
16 Revolving home equity 167.8 169.4
17 Other 981.0 953.8
18 Consumer 318.3 318.2
19 Security (3) 74.9 76.4
20 Federal funds sold to and
repurchase agreements
with broker--dealers 58.7 58.4
21 Other 16.2 18.0
22 State and local government 13.3 13.5
23 Agricultural 7.5 7.4
24 Federal funds sold to and
repurchase agreements with
others 26.1 28.5
25 All other loans 110.1 109.9
26 Lease-financing receivables 109.4 109.2
27 Interbank loans 159.8 163.1
28 Federal funds sold to and
repurchase agreements with
commercial banks 94.9 97.4
29 Other 64.9 65.7
30 Cash asset (4) 139.0 131.0
31 Other assets (5) 345.9 347.2
32 Total assets (6) 3,656.4 3,628.6
Liabilities
33 Deposits 2,113.7 2,107.8
34 Transaction 297.3 312.9
35 Nontransaction 1,816.4 1,794.9
36 Large time 281.9 289.0
37 Other 1,534.5 1,505.8
38 Borrowings 749.1 728.5
39 From banks in the U.S. 208.0 201.0
40 From others 541.1 527.5
41 Net due to related foreign offices 209.7 200.5
42 Other liabilities 240.7 239.7
43 Total liabilities 3,313.2 3,276.5
44 Residual (assets less liabilities) (7) 343.2 352.1
Not seasonally adjusted
Assets
45 Bank credit 3,059.5 3,020.8
46 Securities in bank credit 795.8 790.9
47 U.S. government securities 451.1 443.0
48 Trading account 39.1 29.6
49 Investment account 412.0 413.4
50 Mortgage-backed securities 316.9 314.8
51 Other 95.2 98.6
52 One year or less 24.0 23.6
53 One to five years 52.1 53.3
54 More than five years 19.0 21.7
55 Other securities 344.6 347.8
56 Trading account 176.1 179.6
57 Investment account 168.5 168.2
58 State and local government 31.3 31.4
59 Other 137.2 136.8
60 Loans and leases in bank credit (2) 2,263.8 2,229.9
61 Commercial and industrial 451.1 448.7
62 Bankers acceptances n.a. n.a.
63 Other 451.1 448.7
64 Real estate 1,151.7 1,122.4
65 Revolving home equity 168.5 169.6
66 Other 665.5 634.6
67 Commercial 317.7 318.1
68 Consumer 314.7 314.4
69 Credit cards and related plans 100.8 100.4
70 Other 213.9 214.0
71 Security (3) 79.5 77.8
72 Federal funds sold to and
repurchase agreements
with broker--dealers 62.3 59.5
73 Other 17.2 18.3
74 State and local government 13.3 13.5
75 Agricultural 7.4 7.4
76 Federal fund sold to and
repurchase agreements
with others 26.1 28.5
77 All other loans 112.2 109.8
78 Lease-financing receivables 107.8 107.5
79 Interbank loons 157.3 155.4
80 Federal funds sold to and
repurchase agreements
with commercial banks 93.4 92.8
81 Other 63.9 62.6
82 Cash assets (4) 136.0 122.7
83 Other assets (5) 349.2 347.3
84 Total assets (6) 3,657.8 3,602.2
Liabilities
85 Deposits 2,107.8 2,073.0
86 Transaction 293.9 296.9
87 Nontransaction 1,813.8 1,776.2
88 Large time 279.9 283.7
89 Other 1,533.9 1,492.5
90 Borrowings 752.4 736.6
91 From banks in the U.S. 201.6 195.0
92 From nonbanks in the U.S. 550.8 541.5
93 Net due to related foreign offices 209.3 203.7
94 Other liabilities 240.4 243.3
95 Total liabililies 3,309.9 3,256.6
96 Residual (assets less liabilities) (7) 347.9 345.6
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2002 2003
Sept. (r) Mar. (r)
Seasonally adjusted
Assets
1 Bank credit 2,298.4 2,398.4
2 Securities in bank credit 647.2 678.5
3 U.S. government securities 440.4 472.6
4 Other securities 206.8 206.0
5 Loans and leases in bank credit (2) 1,651.2 1,719.9
6 Commercial and industrial 291.0 297.8
7 Real estate 989.0 1,036.9
8 Revolving home equity 73.2 82.6
9 Other 915.8 954.3
10 Consumer 263.4 272.7
11 Security (3) 7.2 8.1
12 Other loans and leases 100.6 104.3
13 Interbank loans 98.6 114.3
14 Cash assets (4) 122.9 131.4
15 Other assets (5) 145.0 147.4
16 Total assets (6) 2,633.9 2,760.5
Liabilities
17 Deposits 2,053.9 2,120.6
18 Transaction 298.1 316.7
19 Nontransaction 1,755.8 1,803.9
20 Large time 300.3 314.4
21 Other 1,455.5 1,489.5
22 Borrowings 353.9 346.9
23 From banks in the U.S. 123.9 155.5
24 From others 230.0 241.4
25 Net due to related foreign offices 8.6 10.7
26 Other liabilities 66.3 79.6
27 Total liabilities 2,482.8 2,607.8
28 Residual (assets less liabilities) (7) 151.1 152.7
Not seasonally adjusted
Assets
29 Bank credit 2,300.8 2,395.2
30 Securities in bank credit 647.3 681.2
31 U.S. government securities 440.5 475.3
32 Other securities 206.8 206.0
33 Loans and leases in bank credit (2) 1,653.4 1,713.9
34 Commercial and industrial 289.3 297.7
35 Real estate 989.5 1,034.8
36 Revolving home equity 73.4 82.3
37 Other 916.1 952.5
38 Consumer 265.4 269.9
39 Credit cards and related plans 112.3 113.7
40 Other 153.1 156.2
41 Security (3) 7.1 8.4
42 Other loans and leases 102.1 103.2
43 Interbank loans 96.9 120.7
44 Cash assets (4) 122.5 126.7
45 Other assets (5) 145.0 147.4
46 Total assets (6) 2,634.0 2,759.0
Liabilities
47 Deposits 2,043.1 2,125.6
48 Transaction 297.4 313.1
49 Nontransaction 1,745.7 1,812.6
50 Large time 300.3 314.4
51 Other 1,445.4 1,498.1
52 Borrowings 353.9 396.9
53 From banks in the U.S. 123.9 155.5
54 From others 230.0 241.4
55 Net due to relined foreign offices 8.6 10.7
56 Other liabilities 66.3 79.6
57 Total liabilities 2,471.9 2,612.8
58 Residual (assess less liabilities) (7) 162.1 146.2
Monthly averages
Account 2003
Apr. (r) May. (r)
Seasonally adjusted
Assets
1 Bank credit 2,421.3 2,438.7
2 Securities in bank credit 690.7 691.7
3 U.S. government securities 486.4 487.3
4 Other securities 204.3 204.4
5 Loans and leases in bank credit (2) 1,730.5 1,747.0
6 Commercial and industrial 298.5 300.0
7 Real estate 1,048.2 1,056.0
8 Revolving home equity 84.3 85.5
9 Other 963.9 970.5
10 Consumer 271.8 276.9
11 Security (3) 8.2 8.9
12 Other loans and leases 103.8 105.1
13 Interbank loans 111.3 121.2
14 Cash assets (4) 134.1 134.3
15 Other assets (5) 149.0 152.9
16 Total assets (6) 2,784.9 2,816.4
Liabilities
17 Deposits 2,136.8 2,162.1
18 Transaction 324.8 325.8
19 Nontransaction 1,812.0 1,836.3
20 Large time 315.0 316.6
21 Other 1,497.0 1,519.7
22 Borrowings 401.4 410.1
23 From banks in the U.S. 157.3 154.9
24 From others 244.1 255.2
25 Net due to related foreign offices 12.8 12.4
26 Other liabilities 79.5 80.0
27 Total liabilities 2,630.5 2,664.7
28 Residual (assets less liabilities) (7) 154.4 151.7
Not seasonally adjusted
Assets
29 Bank credit 2,419.5 2,437.1
30 Securities in bank credit 692.2 690.9
31 U.S. government securities 487.9 486.5
32 Other securities 204.3 204.4
33 Loans and leases in bank credit (2) 1,727.3 1,746.2
34 Commercial and industrial 300.7 302.6
35 Real estate 1,046.4 1,055.5
36 Revolving home equity 84.1 85.5
37 Other 962.3 969.9
38 Consumer 268.4 274.8
39 Credit cards and related plans 112.1 117.7
40 Other 156.3 157.2
41 Security (3) 8.4 8.7
42 Other loans and leases 103.3 104.6
43 Interbank loans 119.1 116.2
44 Cash assets (4) 131.8 133.2
45 Other assets (5) 149.0 152.9
46 Total assets (6) 2,788.7 2,808.7
Liabilities
47 Deposits 2,148.5 2,154.0
48 Transaction 325.1 320.3
49 Nontransaction 1,823.4 1,833.7
50 Large time 315.0 316.6
51 Other 1,508.4 1,517.1
52 Borrowings 401.4 410.1
53 From banks in the U.S. 157.3 154.9
54 From others 244.1 255.2
55 Net due to relined foreign offices 12.8 12.4
56 Other liabilities 79.5 80.0
57 Total liabilities 2,642.2 2,656.6
58 Residual (assess less liabilities) (7) 146.4 152.1
Monthly averages
Account 2003
June (r) July (r)
Seasonally adjusted
Assets
1 Bank credit 2,462.6 2,489.7
2 Securities in bank credit 692.8 701.9
3 U.S. government securities 490.7 497.4
4 Other securities 202.2 204.4
5 Loans and leases in bank credit (2) 1,769.7 1,787.9
6 Commercial and industrial 301.9 303.2
7 Real estate 1,071.1 1,085.1
8 Revolving home equity 88.3 88.9
9 Other 982.8 996.2
10 Consumer 281.2 284.2
11 Security (3) 9.4 9.3
12 Other loans and leases 106.1 106.1
13 Interbank loans 124.3 119.6
14 Cash assets (4) 136.7 140.3
15 Other assets (5) 153.8 158.1
16 Total assets (6) 2,846.6 2,876.7
Liabilities
17 Deposits 2,182.6 2,199.8
18 Transaction 327.6 336.5
19 Nontransaction 1,855.0 1,863.2
20 Large time 319.3 317.2
21 Other 1,535.7 1,546.0
22 Borrowings 415.5 423.7
23 From banks in the U.S. 157.2 160.0
24 From others 258.4 263.7
25 Net due to related foreign offices 12.0 11.8
26 Other liabilities 79.4 80.6
27 Total liabilities 2,689.5 2,715.8
28 Residual (assets less liabilities) (7) 157.1 160.9
Not seasonally adjusted
Assets
29 Bank credit 2,460.3 2,484.6
30 Securities in bank credit 692.4 700.0
31 U.S. government securities 490.2 495.6
32 Other securities 202.2 204.4
33 Loans and leases in bank credit (2) 1,767.9 1,784.6
34 Commercial and industrial 304.1 304.1
35 Real estate 1,070.0 1,083.4
36 Revolving home equity 88.3 88.4
37 Other 981.7 995.0
38 Consumer 277.7 280.5
39 Credit cards and related plans 118.3 120.0
40 Other 159.4 160.5
41 Security (3) 9.3 9.2
42 Other loans and leases 106.8 107.4
43 Interbank loans 121.4 115.0
44 Cash assets (4) 134.4 138.0
45 Other assets (5) 153.8 158.1
46 Total assets (6) 2,839.1 2,864.6
Liabilities
47 Deposits 2,173.0 2,186.1
48 Transaction 325.3 333.9
49 Nontransaction 1,847.7 1,852.2
50 Large time 319.3 317.2
51 Other 1,528.4 1,535.0
52 Borrowings 415.5 423.7
53 From banks in the U.S. 157.2 160.0
54 From others 258.4 263.7
55 Net due to relined foreign offices 12.0 11.8
56 Other liabilities 79.4 80.6
57 Total liabilities 2,679.9 2,702.2
58 Residual (assess less liabilities) (7) 159.2 162.5
Monthly averages
Account 2003
Aug. (r) Sept.
Seasonally adjusted
Assets
1 Bank credit 2,508.5 2,507.1
2 Securities in bank credit 705.2 700.8
3 U.S. government securities 501.2 496.3
4 Other securities 203.9 204.5
5 Loans and leases in bank credit (2) 1,803.3 1,806.2
6 Commercial and industrial 307.1 309.0
7 Real estate 1,097.1 1,097.1
8 Revolving home equity 89.4 90.3
9 Other 1,007.7 1,006.8
10 Consumer 283.8 285.5
11 Security (3) 9.4 9.2
12 Other loans and leases 106.0 105.4
13 Interbank loans 116.0 113.0
14 Cash assets (4) 142.6 138.4
15 Other assets (5) 162.7 164.7
16 Total assets (6) 2,898.4 2,891.6
Liabilities
17 Deposits 2,215.1 2,209.9
18 Transaction 339.0 332.9
19 Nontransaction 1,876.1 1,877.0
20 Large time 316.9 318.5
21 Other 1,559.1 1,558.5
22 Borrowings 438.3 439.9
23 From banks in the U.S. 168.8 164.9
24 From others 269.5 275.0
25 Net due to related foreign offices 12.0 14.1
26 Other liabilities 80.7 80.0
27 Total liabilities 2,746.1 2,743.9
28 Residual (assets less liabilities) (7) 152.3 147.7
Not seasonally adjusted
Assets
29 Bank credit 2,505.3 2,509.2
30 Securities in bank credit 703.4 701.0
31 U.S. government securities 499.5 496.4
32 Other securities 203.9 204.5
33 Loans and leases in bank credit (2) 1,801.9 1,808.2
34 Commercial and industrial 305.8 307.3
35 Real estate 1,096.3 1,097.7
36 Revolving home equity 89.1 90.6
37 Other 1,007.3 1,007.1
38 Consumer 282.6 287.2
39 Credit cards and related plans 120.3 123.6
40 Other 162.4 163.6
41 Security (3) 9.4 9.1
42 Other loans and leases 107.8 106.9
43 Interbank loans 115.3 111.6
44 Cash assets (4) 137.9 137.9
45 Other assets (5) 162.7 164.7
46 Total assets (6) 2,889.8 2,891.7
Liabilities
47 Deposits 2,197.0 2,198.6
48 Transaction 335.2 332.1
49 Nontransaction 1,861.8 1,866.5
50 Large time 316.9 318.5
51 Other 1,544.9 1,548.0
52 Borrowings 438.3 439.9
53 From banks in the U.S. 168.8 164.9
54 From others 269.5 275.0
55 Net due to relined foreign offices 12.0 14.1
56 Other liabilities 80.7 80.0
57 Total liabilities 2,728.0 2,732.6
58 Residual (assess less liabilities) (7) 161.8 159.1
Wednesday figures
Account 2003
Sept. 3 Sept. 10
Seasonally adjusted
Assets
1 Bank credit 2,510.0 2,515.5
2 Securities in bank credit 703.4 705.9
3 U.S. government securities 500.3 501.6
4 Other securities 203.1 204.4
5 Loans and leases in bank credit (2) 1,806.6 1,809.6
6 Commercial and industrial 307.9 309.1
7 Real estate 1,098.5 1,102.2
8 Revolving home equity 89.8 90.1
9 Other 1,008.7 1,012.1
10 Consumer 285.2 284.4
11 Security (3) 9.3 9.0
12 Other loans and leases 105.6 104.8
13 Interbank loans 113.9 107.7
14 Cash assets (4) 140.8 132.1
15 Other assets (5) 168.5 160.8
16 Total assets (6) 2,901.5 2,884.5
Liabilities
17 Deposits 2,23.21 2,203.7
18 Transaction 327.8 318.0
19 Nontransaction 1,895.4 1,885.7
20 Large time 316.8 319.4
21 Other 1,578.6 1,566.3
22 Borrowings 431.7 439.8
23 From banks in the U.S. 155.7 156.0
24 From others 276.0 283.8
25 Net due to related foreign offices 13.7 14.1
26 Other liabilities 81.7 79.8
27 Total liabilities 2,750.3 2,737.4
28 Residual (assets less liabilities) (7) 151.2 147.0
Not seasonally adjusted
Assets
29 Bank credit 2,509.3 2,515.8
30 Securities in bank credit 702.5 706.2
31 U.S. government securities 499.4 501.8
32 Other securities 203.1 204.4
33 Loans and leases in bank credit (2) 1,806.9 1,809.7
34 Commercial and industrial 306.1 306.4
35 Real estate 1,097.5 1,101.6
36 Revolving home equity 89.4 90.1
37 Other 1,008.1 1,011.5
38 Consumer 285.5 285.1
39 Credit cards and related plans 122.9 121.8
40 Other 162.7 163.3
41 Security (3) 9.7 9.4
42 Other loans and leases 108.1 107.2
43 Interbank loans 119.4 115.5
44 Cash assets (4) 150.2 136.2
45 Other assets (5) 168.5 160.8
46 Total assets (6) 2,915.9 2,896.7
Liabilities
47 Deposits 2,222.4 2,204.3
48 Transaction 336.6 323.7
49 Nontransaction 1,885.8 1,880.5
50 Large time 316.8 319.4
51 Other 1,569.0 1,561.2
52 Borrowings 431.7 439.8
53 From banks in the U.S. 155.7 156.0
54 From others 276.0 283.8
55 Net due to relined foreign offices 13.7 14.1
56 Other liabilities 81.7 79.8
57 Total liabilities 2,749.6 2,702.6
58 Residual (assess less liabilities) (7) 166.3 158.7
Wednesday figures
Account 2003
Sept. 17 Sept. 24
Seasonally adjusted
Assets
1 Bank credit 2,507.8 2,499.6
2 Securities in bank credit 698.7 697.6
3 U.S. government securities 494.7 493.2
4 Other securities 204.0 204.4
5 Loans and leases in bank credit (2) 1,809.1 1,802.0
6 Commercial and industrial 309.2 308.8
7 Real estate 1,098.3 1,093.0
8 Revolving home equity 90.4 90.3
9 Other 1,007.9 1,002.7
10 Consumer 287.2 285.5
11 Security (3) 9.3 9.3
12 Other loans and leases 105.2 105.4
13 Interbank loans 113.5 115.2
14 Cash assets (4) 138.4 138.9
15 Other assets (5) 162.7 164.1
16 Total assets (6) 2,890.6 2,886.2
Liabilities
17 Deposits 2,210.2 2,204.4
18 Transaction 334.0 349.5
19 Nontransaction 1,876.2 1,854.9
20 Large time 318.4 318.0
21 Other 1,557.8 1,536.9
22 Borrowings 442.1 446.9
23 From banks in the U.S. 168.4 171.6
24 From others 273.7 275.2
25 Net due to related foreign offices 15.2 13.0
26 Other liabilities 78.9 79.3
27 Total liabilities 2,746.4 2,743.5
28 Residual (assets less liabilities) (7) 144.1 142.7
Not seasonally adjusted
Assets
29 Bank credit 2,511.5 2,504.6
30 Securities in bank credit 699.1 699.1
31 U.S. government securities 495.2 494.8
32 Other securities 204.0 204.4
33 Loans and leases in bank credit (2) 1,812.3 1,805.5
34 Commercial and industrial 307.5 307.7
35 Real estate 1,099.3 1,095.1
36 Revolving home equity 90.8 90.9
37 Other 1,008.5 1,004.2
38 Consumer 289.6 288.3
39 Credit cards and related plans 125.7 124.3
40 Other 163.9 164.0
41 Security (3) 9.2 8.7
42 Other loans and leases 106.8 105.7
43 Interbank loans 111.9 103.3
44 Cash assets (4) 135.3 133.0
45 Other assets (5) 162.7 164.1
46 Total assets (6) 2,889.6 2,873.5
Liabilities
47 Deposits 2,197.3 2,177.2
48 Transaction 331.7 339.0
49 Nontransaction 1,865.6 1,838.2
50 Large time 318.4 318.0
51 Other 1,547.2 1,520.2
52 Borrowings 442.1 446.9
53 From banks in the U.S. 168.4 171.6
54 From others 273.7 275.2
55 Net due to relined foreign offices 15.2 13.0
56 Other liabilities 78.9 79.3
57 Total liabilities 2,733.6 2,716.4
58 Residual (assess less liabilities) (7) 156.1 157.1
E. Foreign related institutions
Billions of dollars
Monthly averages
Account 2002 2003
Sept. Mar.
Seasonally adjusted
Assets
1 Bank credit 622.1 663.5
2 Securities in bank credit 249.8 283.8
3 U.S. government securities 89.5 122.5
4 Other securities 160.3 161.3
5 Loans and leases in bank credit (2) 372.2 379.7
6 Commercial and industrial 185.0 171.7
7 Real State 19.0 19.8
8 Security (3) 95.2 121.4
9 Other loans and leases 73.0 66.7
10 Interbank loans 21.2 27.2
11 Cash assets (4) 46.6 43.9
12 Other assets (5) 26.8 30.0
13 Total assets (6) 716.3 764.1
Liabilities
14 Deposits 492.3 448.4
15 Transaction 10.1 11.5
16 Nontransaction 482.2 436.9
17 Borrowings 227.1 293.2
18 From banks in the U.S. 22.6 33.7
19 From others 204.5 259.5
20 Net due to related foreign offices -84.7 -83.8
21 Other liabilities 91.7 94.7
22 Total liabilities 726.4 752.5
23 Residual (assets less liabilities) (7) -10.1 11.6
not seasonally adjusted
Assets
24 Bank credit 618.5 661.7
25 Securities in bank credit 249.8 283.8
26 U.S. government securities 89.5 122.5
27 Trading account 16.1 37.2
28 Investment account 73.4 85.4
29 Other securities 160.3 161.3
30 Trading account 105.1 101.6
31 Investment account 55.2 59.7
32 Loans and leases in bank credit (2) 368.7 377.9
33 Commercial and industrial 184.9 173.2
34 Real estate 19.0 19.8
35 Security (3) 92.3 117.3
36 Other loans and leases 72.4 67.6
37 Interbank loans 21.2 27.2
38 Cash assets (4) 46.3 42.7
39 Other assets (5) 26.8 30.7
40 Total assets (6) 712.4 761.8
Liabilities
41 Deposits 474.1 452.4
42 Transaction 10.3 11.1
43 Nontransaction 463.9 441.3
44 Borrowings 227.1 293.2
45 From banks in the U.S. 22.6 33.7
46 From other 204.5 259.5
47 Net due to related foreign offices -83.1 -81.6
48 Other liabilities 92.6 96.3
49 Total liabilities 710.7 760.3
50 Residual (assets less liabilities) (7) 1.7 1.5
Monthly averages
Account 2003
Apr. May
Seasonally adjusted
Assets
1 Bank credit 655.0 669.6
2 Securities in bank credit 277.3 288.5
3 U.S. government securities 124.2 127.4
4 Other securities 153.1 161.2
5 Loans and leases in bank credit (2) 377.7 381.0
6 Commercial and industrial 172.2 170.4
7 Real State 19.0 19.3
8 Security (3) 118.1 118.9
9 Other loans and leases 68.3 72.4
10 Interbank loans 22.4 24.6
11 Cash assets (4) 49.7 51.1
12 Other assets (5) 32.5 36.6
13 Total assets (6) 759.2 781.4
Liabilities
14 Deposits 434.6 433.4
15 Transaction 11.2 10.8
16 Nontransaction 423.4 422.6
17 Borrowings 297.7 305.1
18 From banks in the U.S. 27.4 31.3
19 From others 270.3 273.7
20 Net due to related foreign offices -72.9 -77.9
21 Other liabilities 90.6 106.8
22 Total liabilities 750.0 767.4
23 Residual (assets less liabilities) (7) 9.2 13.9
Not seasonally adjusted
Assets
24 Bank credit 654.9 664.8
25 Securities in bank credit 277.3 288.5
26 U.S. government securities 124.2 127.4
27 Trading account 39.8 43.1
28 Investment account 84.4 84.3
29 Other securities 153.1 161.2
30 Trading account 97.9 105.2
31 Investment account 55.2 56.0
32 Loans and leases in bank credit (2) 377.6 376.3
33 Commercial and industrial 171.3 168.6
34 Real estate 19.0 19.3
35 Security (3) 118.5 116.6
36 Other loans and leases 68.8 71.8
37 Interbank loans 22.4 24.6
38 Cash assets (4) 47.5 49.4
39 Other assets (5) 32.4 36.7
40 Total assets (6) 756.7 755.1
Liabilities
41 Deposits 440.6 438.8
42 Transaction 10.6 10.4
43 Nontransaction 430.0 428.4
44 Borrowings 297.7 305.1
45 From banks in the U.S. 27.4 31.3
46 From other 270.3 273.7
47 Net due to related foreign offices -73.3 -77.5
48 Other liabilities 90.3 107.1
49 Total liabilities 755.3 773.5
50 Residual (assets less liabilities) (7) 1.5 1.6
Monthly averages
Account 2003
June July
Seasonally adjusted
Assets
1 Bank credit 672.3 649.9
2 Securities in bank credit 288.4 267.7
3 U.S. government securities 124.2 (r) 113.9 (r)
4 Other securities 164.2 (r) 153.8 (r)
5 Loans and leases in bank credit (2) 383.9 382.2
6 Commercial and industrial 163.3 162.6 (r)
7 Real State 19.4 19.4
8 Security (3) 121.8 118.9
9 Other loans and leases 79.3 81.3 (r)
10 Interbank loans 30.7 33.1
11 Cash assets (4) 54.3 54.0
12 Other assets (5) 36.7 33.2
13 Total assets (6) 793.5 769.7
Liabilities
14 Deposits 442.6 453.4
15 Transaction 11.4 11.4
16 Nontransaction 431.2 442.0
17 Borrowings 315.8 297.0
18 From banks in the U.S. 34.7 36.8
19 From others 281.1 260.3
20 Net due to related foreign offices -81.9 -86.0
21 Other liabilities 113.5 108.9
22 Total liabilities 790.0 773.3
23 Residual (assets less liabilities) (7) 3.5 -3.6
Not seasonally adjusted
Assets
24 Bank credit 668.8 642.4
25 Securities in bank credit 288.4 267.7
26 U.S. government securities 124.2 (r) 113.9 (r)
27 Trading account 43.1 (r) 39.9 (r)
28 Investment account 81.1 74.0
29 Other securities 164.2 (r) 153.8 (r)
30 Trading account 105.9 (r) 96.5 (r)
31 Investment account 58.3 57.3
32 Loans and leases in bank credit (2) 380.4 374.8
33 Commercial and industrial 162.8 161.6 (r)
34 Real estate 19.4 19.4
35 Security (3) 119.3 114.1
36 Other loans and leases 78.9 79.7 (r)
37 Interbank loans 30.7 33.1
38 Cash assets (4) 51.8 51.1
39 Other assets (5) 35.3 32.1
40 Total assets (6) 786.1 758.2
Liabilities
41 Deposits 440.8 443.7
42 Transaction 11.0 11.4
43 Nontransaction 429.7 432.3
44 Borrowings 315.8 297.0
45 From banks in the U.S. 34.7 36.8
46 From other 281.1 260.3
47 Net due to related foreign offices -83.7 -89.3
48 Other liabilities 111.9 106.3
49 Total liabilities 784.8 757.6
50 Residual (assets less liabilities) (7) 1.3 .6
Monthly averages
Account 2003
Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 630.6 629.9
2 Securities in bank credit 267.5 273.4
3 U.S. government securities 106.5 (r) 107.4
4 Other securities 161.0 (r) 166.0
5 Loans and leases in bank credit (2) 363.1 356.6
6 Commercial and industrial 156.1 (r) 151.2
7 Real State 19.1 18.8
8 Security (3) 111.6 113.4
9 Other loans and leases 76.3 (r) 73.2
10 Interbank loans 32.4 30.6
11 Cash assets (4) 54.3 53.2
12 Other assets (5) 36.3 29.9
13 Total assets (6) 753.2 743.1
Liabilities
14 Deposits 455.2 451.0
15 Transaction 11.8 10.9
16 Nontransaction 443.4 440.1
17 Borrowings 293.6 290.3
18 From banks in the U.S. 33.8 33.6
19 From others 259.8 256.7
20 Net due to related foreign offices -103.5 -99.6
21 Other liabilities 116.1 110.5
22 Total liabilities 761.4 752.2
23 Residual (assets less liabilities) (7) -8.2 -9.0
Not seasonally adjusted
Assets
24 Bank credit 624.1 (r) 625.8
25 Securities in bank credit 267.5 273.4
26 U.S. government securities 106.5 (r) 107.4
27 Trading account 38.7 (r) 39.6
28 Investment account 67.9 67.8
29 Other securities 161.0 (r) 166.0
30 Trading account 100.7 (r) 103.6
31 Investment account 60.3 (r) 62.3
32 Loans and leases in bank credit (2) 356.6 352.4
33 Commercial and industrial 154.9 (r) 151.1
34 Real estate 19.1 18.8
35 Security (3) 107.5 109.9
36 Other loans and leases 75.1 (r) 72.5
37 Interbank loans 32.4 30.6
38 Cash assets (4) 52.1 52.8
39 Other assets (5) 35.8 29.9
40 Total assets (6) 743.9 738.6
Liabilities
41 Deposits 439.7 434.5
42 Transaction 11.5 11.1
43 Nontransaction 428.3 423.4
44 Borrowings 293.6 290.3
45 From banks in the U.S. 33.8 33.6
46 From other 259.8 256.7
47 Net due to related foreign offices -104.9 -98.3
48 Other liabilities 114.9 111.6
49 Total liabilities 743.3 738.0
50 Residual (assets less liabilities) (7) .6 .6
Wednesday figures
Account 2003
Sept. 3 Sept. 10
Seasonally adjusted
Assets
1 Bank credit 629.5 638.2
2 Securities in bank credit 272.3 273.5
3 U.S. government securities 107.1 109.4
4 Other securities 165.2 164.1
5 Loans and leases in bank credit (2) 357.2 364.7
6 Commercial and industrial 154.2 153.2
7 Real State 18.9 18.9
8 Security (3) 110.5 118.1
9 Other loans and leases 73.5 74.4
10 Interbank loans 33.6 33.2
11 Cash assets (4) 55.5 53.4
12 Other assets (5) 30.5 29.8
13 Total assets (6) 748.6 754.2
Liabilities
14 Deposits 448.8 455.0
15 Transaction 11.3 11.4
16 Nontransaction 437.5 443.6
17 Borrowings 291.9 293.8
18 From banks in the U.S. 35.3 29.5
19 From others 256.6 264.3
20 Net due to related foreign offices -100.7 -100.0
21 Other liabilities 115.4 114.4
22 Total liabilities 755.4 763.2
23 Residual (assets less liabilities) (7) -6.8 -9.1
Not seasonally adjusted
Assets
24 Bank credit 620.0 629.9
25 Securities in bank credit 272.3 273.5
26 U.S. government securities 107.1 109.4
27 Trading account 40.2 39.9
28 Investment account 66.9 69.5
29 Other securities 165.2 164.1
30 Trading account 104.5 103.6
31 Investment account 60.7 60.5
32 Loans and leases in bank credit (2) 347.7 356.4
33 Commercial and industrial 152.9 152.2
34 Real estate 18.9 18.9
35 Security (3) 102.7 111.6
36 Other loans and leases 73.1 73.7
37 Interbank loans 33.6 33.2
38 Cash assets (4) 53.7 51.8
39 Other assets (5) 30.6 30.0
40 Total assets (6) 737.4 744.4
Liabilities
41 Deposits 430.5 435.5
42 Transaction 11.2 11.3
43 Nontransaction 419.2 424.3
44 Borrowings 291.9 293.8
45 From banks in the U.S. 35.3 29.5
46 From other 256.6 264.3
47 Net due to related foreign offices -100.8 -100.0
48 Other liabilities 115.3 114.5
49 Total liabilities 736.8 743.9
50 Residual (assets less liabilities) (7) .6 .6
Wednesday figures
Account 2003
Sept. 17 Sept. 24
Seasonally adjusted
Assets
1 Bank credit 627.4 625.9
2 Securities in bank credit 268.0 271.2
3 U.S. government securities 106.3 106.8
4 Other securities 161.7 164.4
5 Loans and leases in bank credit (2) 359.4 354.7
6 Commercial and industrial 152.6 150.3
7 Real State 18.9 18.8
8 Security (3) 113.4 112.8
9 Other loans and leases 74.5 72.8
10 Interbank loans 29.4 30.4
11 Cash assets (4) 56.6 49.9
12 Other assets (5) 26.0 30.2
13 Total assets (6) 739.0 735.9
Liabilities
14 Deposits 449.7 453.8
15 Transaction 10.7 10.3
16 Nontransaction 439.0 443.5
17 Borrowings 291.8 281.2
18 From banks in the U.S. 35.4 31.9
19 From others 256.4 249.3
20 Net due to related foreign offices -94.2 -100.1
21 Other liabilities 106.5 106.5
22 Total liabilities 753.9 741.4
23 Residual (assets less liabilities) (7) -15.0 -5.4
Not seasonally adjusted
Assets
24 Bank credit 626.1 624.0
25 Securities in bank credit 268.0 271.2
26 U.S. government securities 106.3 106.8
27 Trading account 38.2 39.2
28 Investment account 68.1 67.5
29 Other securities 161.7 164.4
30 Trading account 101.4 104.0
31 Investment account 60.4 60.4
32 Loans and leases in bank credit (2) 358.1 352.8
33 Commercial and industrial 152.6 150.7
34 Real estate 18.9 18.8
35 Security (3) 112.9 111.4
36 Other loans and leases 73.8 71.8
37 Interbank loans 29.4 30.4
38 Cash assets (4) 55.6 50.5
39 Other assets (5) 26.0 30.1
40 Total assets (6) 736.6 734.5
Liabilities
41 Deposits 430.4 440.0
42 Transaction 10.7 10.8
43 Nontransaction 419.7 429.2
44 Borrowings 291.8 281.2
45 From banks in the U.S. 35.4 31.9
46 From other 256.4 249.3
47 Net due to related foreign offices -93.4 -96.7
48 Other liabilities 107.2 109.4
49 Total liabilities 736.0 733.9
50 Residual (assets less liabilities) (7) .6 .6
F. Memo items
Billions of dollars
Monthly averages
Account 2002 2003
Sept. Mar.
Not seasonally adjusted
MEMO
Largely domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items (8) 117.2 115.1
2 Revaluation losses on off-balance-
sheet items (8) 98.6 91.3
3 Mortgage-backed securities (9) 345.9 381.4
4 Pass-through 255.5 (r) 276.3 (r)
5 CMO, REMIC, and other 90.4 105.2 (r)
6 Net unrealized gains (losses) on
available-for-sale securities (10) 11.3 (r) 11.7
7 Off-shore credit to U.S. residents (11) 19.0 18.2
8 Securitized consumer loans (12) 142.3 152.9
9 Credit cards and related plans 125.0 136.7
10 Other 17.3 16.1
11 Securitized business loans (12) 17.8 15.8
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 301.9 (r) 325.4 (r)
13 Secruritized consumer loans (12) 199.5 202.4
14 Credit cards and related plans 195.9 194.3
15 Other 3.6 8.1
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 63.0 65.4
17 Revaluation losses on off-balance-
sheet items (8) 61.7 63.6
18 Securitized business loans (12) 8.1 4.1
Monthly averages
Account 2003
Apr. May
Not seasonally adjusted
MEMO
Largely domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items (8) 105.7 128.1
2 Revaluation losses on off-balance-
sheet items (8) 81.4 105.1
3 Mortgage-backed securities (9) 400.8 427.2 (r)
4 Pass-through 288.6 314.3
5 CMO, REMIC, and other 112.2 112.9
6 Net unrealized gains (losses) on
available-for-sale securities (10) 10.1 11.3 (r)
7 Off-shore credit to U.S. residents (11) 17.5 17.3
8 Securitized consumer loans (12) 154.6 155.3
9 Credit cards and related plans 138.7 139.4
10 Other 15.9 15.9
11 Securitized business loans (12) 10.0 10.2
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 336.1 337.1
13 Secruritized consumer loans (12) 204.6 204.3
14 Credit cards and related plans 196.7 196.5
15 Other 7.9 7.8
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 64.9 73.6
17 Revaluation losses on off-balance-
sheet items (8) 62.4 72.6
18 Securitized business loans (12) 3.3 3.0
Monthly averages
Account 2003
June July
Not sesonally adjusted
MEMO
Largely domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items (8) 135.0 111.7 (r)
2 Revaluation losses on off-balance-
sheet items (8) 110.0 85.4 (r)
3 Mortgage-backed securities (9) 436.8 (r) 412.7
4 Pass-through 324.8 301.6 (r)
5 CMO, REMIC, and other 112.0 (r) 111.1
6 Net unrealized gains (losses) on
available-for-sale securities (10) 13.0 (r) 6.7 (r)
7 Off-shore credit to U.S. residents (11) 16.6 15.5
8 Securitized consumer loans (12) 157.3 161.6
9 Credit cards and related plans 140.6 144.0
10 Other 16.6 17.5
11 Securitized business loans (12) 9.9 8.4
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 336.7 (r) 331.8 (r)
13 Secruritized consumer loans (12) 204.0 200.6
14 Credit cards and related plans 196.3 193.0
15 Other 7.7 7.6
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 72.6 65.3
17 Revaluation losses on off-balance-
sheet items (8) 72.6 64.9
18 Securitized business loans (12) 2.5 1.5
Monthly averages
Account 2003
Aug. Sept.
Not sesonally adjusted
MEMO
Largely domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items (8) 95.2 (r) 114.9
2 Revaluation losses on off-balance-
sheet items (8) 79.4 96.0
3 Mortgage-backed securities (9) 387.6 373.3
4 Pass-through 274.1 262.6
5 CMO, REMIC, and other 113.5 110.7
6 Net unrealized gains (losses) on
available-for-sale securities (10) -.1 (r) 2.5
7 Off-shore credit to U.S. residents (11) 14.7 14.3
8 Securitized consumer loans (12) 162.5 160.8
9 Credit cards and related plans 144.5 144.3
10 Other 18.0 16.5
11 Securitized business loans (12) 7.2 7.9
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 330.1 (r) 328.2
13 Secruritized consumer loans (12) 201.8 202.9
14 Credit cards and related plans 194.2 195.3
15 Other 7.6 7.6
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 65.9 67.8
17 Revaluation losses on off-balance-
sheet items (8) 64.9 66.9
18 Securitized business loans (12) 1.4 1.3
Wednesday figures
Account 2003
Sept. 3 Sept. 10
Not sesonally adjusted
MEMO
Largely domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items (8) 100.1 111.1
2 Revaluation losses on off-balance-
sheet items (8) 79.7 92.6
3 Mortgage-backed securities (9) 387.7 380.4
4 Pass-through 274.2 268.3
5 CMO, REMIC, and other 113.5 112.1
6 Net unrealized gains (losses) on
available-for-sale securities (10) -2.5 1.8
7 Off-shore credit to U.S. residents (11) 13.9 14.6
8 Securitized consumer loans (12) 162.1 160.9
9 Credit cards and related plans 144.4 144.3
10 Other 17.8 16.6
11 Securitized business loans (12) 6.8 8.1
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 330.7 330.5
13 Secruritized consumer loans (12) 202.7 202.7
14 Credit cards and related plans 195.1 195.1
15 Other 7.6 7.6
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 68.0 67.1
17 Revaluation losses on off-balance-
sheet items (8) 67.0 66.3
18 Securitized business loans (12) 1.3 1.3
Wednesday figures
Account 2003
Sept. 17 Sept. 24
Not sesonally adjusted
MEMO
Largely domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items (8) 114.8 116.6
2 Revaluation losses on off-balance-
sheet items (8) 96.0 97.6
3 Mortgage-backed securities (9) 369.1 367.1
4 Pass-through 259.6 256.9
5 CMO, REMIC, and other 109.4 110.2
6 Net unrealized gains (losses) on
available-for-sale securities (10) 3.0 3.1
7 Off-shore credit to U.S. residents (11) 14.6 14.3
8 Securitized consumer loans (12) 159.7 160.1
9 Credit cards and related plans 143.3 143.8
10 Other 16.4 16.3
11 Securitized business loans (12) 8.1 8.0
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 325.1 329.2
13 Secruritized consumer loans (12) 201.9 203.2
14 Credit cards and related plans 194.3 195.7
15 Other 7.6 7.6
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 64.9 68.8
17 Revaluation losses on off-balance-
sheet items (8) 64.0 67.8
18 Securitized business loans (12) 1.3 1.3
Note. Tables 1.26, 1.27, and 1.28 have been revised to reflect changes
in the Board's H.8 statistical release. "Assets and Liabilities of
Commercial Banks in the United States." Table 1.27, "Assets and
Liabilities of Large Weekly Reporting Commercial Banks," and table
1.28, "Large Weekly Reporting U.S. Branches and Agencies of Foreign
Banks," are no longer being published in the Bulletin. Instead,
abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data
are both merger-adjusted and break adjusted. In addition, data from
large weekly reporting U.S. branches and agencies of foreign banks
have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are
break-adjusted.
The not-seasonally-adjusted data for all tables now contain additional
balance sheet items, which were available as of October 2, 1996.
(1.) Covers the following types of institutions in the fifty states
and the District of Columbia: domestically chartered commercial banks
that submit a weekly report of condition (large domestic); other
domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and agreement corporations
(foreign-related institutions). Excludes International Banking
Facilities. Data are Wednesday values or pro rata averages of Wednesday
values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on
weekly samples and on quarter-end condition reports. Data are adjusted
for breaks caused by reclassifications of assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19
are adjusted to remove the estimated effects of mergers between these
two groups. The adjustment for mergers changes past levels to make
them comparable with current levels. Estimated quantities of balance
sheet items acquired in mergers are removed from past data for the bank
group that contained the acquired bank and put into past data for the
group containing the acquiring bank. Balance sheet data for acquired
banks are obtained from Call Reports, and a ratio procedure is used
to adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans
made to commercial banks in the United States, all of which are
included in "Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due from
Federal Reserve Banks.
(5.) Excludes the due-from position with related foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported gross
of these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally
adjusted basis, this item reflects any differences in the seasonal
patterns estimated for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data
are reported net of tax effects. Data shown are restated to include
an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item
1998 1999 2000
1 All issuers 1,163,303 1,403,023 1,619,274
Financial companies (1)
2 Dealer-placed paper, total (2) 614,142 786,643 963,070
3 Directly placed paper, total (3) 322,030 337,240 312,771
4 Nonfinancial companies (4) 227,132 279,140 343,433
Year ending December 2003
2001 2002 Mar.
1 All issuers 1,458,870 1,347,997 1,341,270
Financial companies (1)
2 Dealer-placed paper, total (2) 967,748 976,163 946,773
3 Directly placed paper, total (3) 266,276 217,787 244,504
4 Nonfinancial companies (4) 224,847 154,047 149,993
2003
Apr. May June
1 All issuers 1,342,147 1,365,704 1,324,911
Financial companies (1)
2 Dealer-placed paper, total (2) 961,002 1,003,088 974,116
3 Directly placed paper, total (3) 232,879 222,597 219,960
4 Nonfinancial companies (4) 148,266 140,020 130,835
2003
July Aug.
1 All issuers 1,347,286 1,336,910
Financial companies (1)
2 Dealer-placed paper, total (2) 994,384 976,065
3 Directly placed paper, total (3) 218,311 227,418
4 Nonfinancial companies (4) 134,591 133,427
(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, constructions, manufacturing, mining,
wholesale and retail trade, transportation, and services.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
2000--Jan. 1 8.50
Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Nov. 7 5.00
Dec. 12 4.75
2002--Nov. 7 4.25
2003--June 27 4.00
Average
Period rate
2000 9.23
2001 6.97
2002 4.67
2000--Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
Nov. 5.10
Dec. 4.84
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
Oct. 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 from 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 June
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 6.24 3.88 1.67 1.22
2 Discount window primary
credits (2,4) n.a. n.a. n.a. 2.20
Commercial (3,5,6)
Nonfinancial
3 1-month 6.27 3.78 1.67 1.06
4 2-month 6.29 3.68 1.67 1.03
5 3-month 6.31 3.65 1.69 1.01
Financial
6 1-month 6.28 3.80 1.68 1.08
7 2-month 6.30 3.71 1.69 1.04
8 3-month 6.33 3.65 1.70 1.02
Certificates of deposit,
secondary market (3,7)
9 1-month 6.35 3.84 1.72 1.10
10 3-month 6.46 3.71 1.73 1.04
11 6-month 6.59 3.66 1.81 1.02
12 Eurodollar deposits
3-month (3,8) 6.45 3.70 1.73 1.03
U.S. Treasury bills
Secondary market (3,5)
13 4-week n.a. 2.43 1.60 0.96
14 3-month 5.82 3.40 1.61 0.92
15 6-month 5.90 3.34 1.68 0.92
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 6.11 3.49 2.00 1.01
17 2-year 6.26 3.83 2.64 1.23
18 3-year 6.22 4.09 3.10 1.51
19 5-year 6.16 4.56 3.82 2.27
20 7-year 6.20 4.88 4.30 2.84
21 10-year 6.03 5.02 4.61 3.33
22 20-year 6.23 5.63 5.43 4.34
Treasury long-term average
(10,11)
23 25 years and above n.a. n.a. 5.41 4.45
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 5.58 5.01 4.87 4.07
25 Baa 6.19 5.75 5.64 4.68
26 Bond Buyer series (13) 5.71 5.15 5.04 4.33
CORPORATE BONDS
27 Seasoned issues all
industries (14) 7.98 7.49 7.10 5.70
Rating group
28 Aaa (15) 7.62 7.08 6.49 4.97
29 Aa 7.83 7.26 6.93 5.72
30 A 8.11 7.67 7.18 5.92
31 Baa 8.37 7.95 7.80 6.19
MEMO
Dividend-price ratio (16)
32 Common stocks 1.15 1.32 1.61 1.64
2003,
week
2003 ending
Item July Aug. Sept. Aug. 29
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.01 1.03 1.01 1.00
2 Discount window primary
credits (2,4) 2.00 2.00 2.00 2.00
Cammercial (3,5,6)
Nonfinancial
3 1-month 1.01 1.03 1.00 1.02
4 2-month 1.02 1.03 1.03 1.11
5 3-month 1.01 1.04 1.04 1.04
Financial
6 1-month 1.02 1.04 1.04 1.07
7 2-month 1.03 1.05 1.05 1.05
8 3-month 1.03 1.06 1.06 1.07
Certificates of deposit,
secondary market (3,7)
9 1-month 1.05 1.07 1.07 1.07
10 3-month 1.05 1.08 1.08 1.09
11 6-month 1.06 1.13 1.13 1.14
12 Eurodollar deposits
3-month (3,8) 1.04 1.07 1.08 1.07
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.88 0.93 0.89 0.97
14 3-month 0.90 0.95 0.94 0.98
15 6-month 0.95 1.03 1.01 1.04
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 1.12 1.31 1.24 1.35
17 2-year 1.47 1.86 1.71 1.98
18 3-year 1.93 2-44 2.23 2.55
19 5-year 2.87 3.37 3.18 3.49
20 7-year 3.45 3.96 3.74 4.04
21 10-year 3.98 4.45 4.27 4.49
22 20-year 4.92 5.39 5.21 5.38
Treasury long-term average
(10,11)
23 25 years and above 5.00 5.41 5.23 5.37
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.59 4.82 4.63 4.80
25 Baa 5.17 5.42 5.23 5.40
26 Bond Buyer series (13) 4.74 5.10 4.92 5.07
CORPORATE BONDS
27 Seasoned issues all
industries (14) 6.13 6.46 6.26 6.43
Rating group
28 Aaa (15) 5.49 5.88 5.72 5.87
29 Aa 6.07 6.31 6.13 6.28
30 A 6.35 6.64 6.42 6.61
31 Baa 6.62 7.01 6.79 6.97
MEMO
Dividend-pro ratio (16)
32 Common stocks 1.64 1.67 1.63 1.65
2003, week ending
Item Sept. 5 Sept. 12 Sept. 19 Sept. 26
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.01 0.96 1.02 1.00
2 Discount window primary
credits (2,4) 2.00 2.00 2.00 2.00
Cammercial (3,5,6)
Nonfinancial
3 1-month 1.04 1.01 1.02 1.01
4 2-month 1.04 1.03 1.02 1.02
5 3-month 1.05 1.04 1.04 1.04
Financial
6 1-month 1.05 1.04 1.04 1.03
7 2-month 1.12 1.00 1.05 1.05
8 3-month 1.07 1.06 1.05 1.05
Certificates of deposit,
secondary market (3,7)
9 1-month 1.08 1.07 1.07 1.07
10 3-month 1.10 1.08 1.08 1.07
11 6-month 1.16 1.12 1.12 1.12
12 Eurodollar deposits
3-month (3,8) 1.09 1.07 1.10 1.07
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.95 0.92 0.88 0.86
14 3-month 0.95 0.94 0.93 0.93
15 6-month 1.03 1.01 1.00 1.01
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 1.33 1.22 1.21 1.22
17 2-year 1.92 1.69 1.65 1.66
18 3-year 2.51 2.25 2.16 2.15
19 5-year 3.51 3.23 3.10 3.07
20 7-year 4.05 3.79 3.68 3.63
21 10-year 4.52 4.34 4.23 4.16
22 20-year 5.42 5.27 5.18 5.09
Treasury long-term average
(10,11)
23 25 years and above 5.41 5.30 5.22 5.13
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.84 4.73 4.44 4.50
25 Baa 5.44 5.33 5.00 5.10
26 Bond Buyer series (13) 5.07 4.94 4.84 4.81
CORPORATE BONDS
27 Seasoned issues all
industries (14) 6.45 6.33 6.25 6.14
Rating group
28 Aaa (15) 5.90 5.78 5.72 5.59
29 Aa 6.31 6.20 6.12 6.01
30 A 6.63 6.50 6.40 6.29
31 Baa 6.96 6.86 6.77 6.68
MEMO
Dividend-pro ratio (16)
32 Common stocks 1.62 1.62 1.61 1.66
NOTE. Some of the data in this table also appear in the Boards 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 for a discount basis.
(6.) Interest rates interpolated from data on certain commercial paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
that is, the offer side). See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7) An average of 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 ruling. 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 an 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 at the Treasury.
1.36 STOCK MARKET Selected Statistics
2003
Indicator 2000 2001 2002 Jan.
Prices and trading volume (averages of
daily figures)
Common stock price
(indexes)
1 New York Stock
Exchange (Dec. 31,
1965=50) 6,806.46 6,407.95 5,571.46 5,055.78
2 Industrial 809.40 749.46 656.44 587.78
3 Transportation 414.73 444.45 430.63 394.60
4 Utility 478.99 377.72 260.50 236.42
5 Finance 552.48 596.61 554.88 522.51
6 Standard & Poor 's
Corporation (1941-
43 = 10) (1) 1,427.22 1,194.18 993.94 895.84
7 American Stock
Exchange (Aug. 31,
1973 = 50) (2) 922.22 879.08 860.11 824.64
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,026,867 1,216,529 1,411,689 1,441,846
9 American Stock
Exchange 51,437 68,074 n.a. n.a.
Customer financing (millions of dollars
end-of-period balances)
10 Margin credit at
broker-dealers (3) 198,790 150,450 134,380 134,910
Free credit balances
at brokers (4)
11 Margin accounts (5) 100,680 101,640 95,690 96,430
12 Cash accounts 84,400 78,040 73,340 66,200
Margin requirements (percent of market
value and effective date) (6)
Mar. 11, 1968 June 8, 1968
13 Margin stocks 70 80
14 Convertible bonds 50 60
15 Short sales 70 80
2003
Indicator Feb. Mar. Apr. May
Prices and trading volume (averages of
daily figures)
Common stock price
(indexes)
1 New York Stock
Exchange (Dec. 31,
1965=50) 4,738.56 4,724.22 4,977.45 5,269.96
2 Industrial 553.90 558.10 583.74 613.26
3 Transportation 367.55 366.90 395.85 425.12
4 Utility 214.64 211.45 221.06 238.33
5 Finance 485.72 486.71 522.05 549.91
6 Standard & Poor 's
Corporation (1941-
43 = 10) (1) 837.62 846.62 890.03 935.96
7 American Stock
Exchange (Aug. 31,
1973 = 50) (2) 818.84 822.34 837.92 894.74
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,302,011 1,403,742 1,381,580 1,455,858
9 American Stock
Exchange n.a. n.a. n.a. n.a.
Customer financing (millions of dollars
end-of-period balances)
10 Margin credit at
broker-dealers (3) 134,030 135,910 140,450 146,380
Free credit balances
at brokers (4)
11 Margin accounts (5) 95,400 90,830 88,770 88,540
12 Cash accounts 67,260 68,860 70,080 71,270
Margin requirements (percent of market value
and effective date) (6)
May 6, 1970 Dec. 6, 1971
13 Margin stocks 65 55
14 Convertible bonds 50 50
15 Short sales 65 55
2003
Indicator June July Aug. Sept.
Prices and trading volume (averages of
daily figures)
Common stock price
(indexes)
1 New York Stock
Exchange (Dec. 31,
1965=50) 5,583.60 5,567.94 5,580.87 5,748.80
2 Industrial 649.25 648.00 651.19 670.18
3 Transportation 441.81 445.29 451.31 464.61
4 Utility 254.16 244.67 238.06 243.37
5 Finance 579.48 588.81 582.20 593.10
6 Standard & Poor 's
Corporation (1941-
43 = 10) (1) 988.00 992.54 989.53 1,019.44
7 American Stock
Exchange (Aug. 31,
1973 = 50) (2) 962.46 959.26 960.50 990.40
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,472,560 1,412,818 1,175,615 1,397,876
9 American Stock
Exchange n.a. n.a. n.a. n.a.
Customer financing (millions of dollars
end-of-period balances)
10 Margin credit at
broker-dealers (3) 148,550 148,450 149,611 155,870
Free credit balances
at brokers (4)
11 Margin accounts (5) 87,920 91,210 88,040 88,620
12 Cash accounts 74,350 76,170 72,000 74,760
Margin requirements (percent of market value
and effective date) (6)
Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 65 50
14 Convertible bonds 50 50
15 Short sales 65 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit at
broker-dealers has included credit extended against stocks, convertible
bonds, stocks acquired through the exercise of subscription rights,
corporate bonds, and government securities. Separate reporting of data
for margin stocks, convertible bonds, and subscription issues was
discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board of
Governors pursuant to the Securities Exchange Act of 1934, limit the
amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the
difference between the market value (100 percent) and the maximum loan
value of collateral as prescribed by the Board Regulation T was adopted
effective Oct 15, 1934; Regulation U, effective May 1, 1936; Regulation
G, effective Mar. 11, 1968; and Regulation X, effective Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established
in Regulation T the initial margin required for writing options on
securities, setting it at 30 percent of the current market value of the
stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option
maintenance margin required by the appropriate exchange or self
regulatory organization; such maintenance margin rules must be approved
by the Securities and Exchange Commission.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2001 2002
Item Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,834.5 5,970.3 6,032.4
2 Public debt securities 5,807.5 5,943.4 6,006.0
3 Held by public 3,338.7 3,393.8 3,443.7
4 Held by agencies 2,468.8 2,549.7 2,562.4
5 Agency securities 27.0 26.8 26.4
6 Held by public 27.0 26.8 26.4
7 Held by agencies .0 .0 .0
8 Debt subject to statutory
limit 5,732.6 5,871.4 5,935.1
9 Public debt securities 5,732.4 5,871.2 5,935.0
10 Other debt (1) .2 .3 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2002
Item June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 6,153.3 6,255.4 6,433.0
2 Public debt securities 6,126.5 6,282.2 6,405.7
3 Held by public 3,463.5 3,526.6 3,647.4
4 Held by agencies 2,662.9 2,675.6 2,758.3
5 Agency securities 26.8 27.2 27.3
6 Held by public 26.8 27.2 27.3
7 Held by agencies .0 .0 .0
8 Debt subject to statutory
limit 6,058.3 6,161.4 6,359.4
9 Public debt securities 6,058.1 6,161.1 6,359.1
10 Other debt (1) .2 .3 .3
MEMO
11 Statutory debt limit 6,400.0 6,400.0 6,400.0
2003
Item Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 6,487.7 6,697.1 6,810.3 (r)
2 Public debt securities 6,460.8 6,670.1 6,783.2 (r)
3 Held by public 3,710.8 3,816.3 3,923.9 (r)
4 Held by agencies 2,750.0 2,853.8 2,859.4 (r)
5 Agency securities 26.9 27.0 27.0 (r)
6 Held by public 26.9 27.0 27.0 (r)
7 Held by agencies .0 .0 .0 (r)
8 Debt subject to statutory
limit 6,400.0 6,625.5 6,737.6 (r)
9 Public debt securities 6,399.8 6,625.3 6.736.3 (r)
10 Other debt (1) .2 .2 .3 (r)
MEMO
11 Statutory debt limit 6,400.0 7,384.0 7,384.0 (r)
(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
1 Total gross public debt 5,776.1 5,662.2 5,943.4
By type
2 Interest-bearing 5,766.1 5,618.1 5,930.8
3 Marketable 3,281.0 2,966.9 2,982.9
4 Bills 737.1 646.9 811.3
5 Notes 1,784.5 1,557.3 1,413.9
6 Bonds 643.7 626.5 602.7
7 Inflation-indexed notes and
bonds (1) 100.7 121.2 140.1
8 Nonmarketable (2) 2,485.1 2,651.2 2,947.9
9 State and local government
series 165.7 151.0 146.3
10 Foreign issue (3) 31.3 27.2 15.4
11 Government 31.3 27.2 15.4
12 Public .0 .0 .0
13 Savings bonds and notes 179.4 176.9 181.5
14 Government account series (4) 2,078.7 2,266.1 2,574.8
15 Non-interest-bearing 10.0 44.2 12.7
By holders (5)
16 U.S. Treasury and other federal
agencies and trust funds 2,064.2 2,270.1 2,572.2
17 Federal Reserve Banks 478.0 511.7 551.7
18 Private investors 3,233.9 2,880.4 2,819.5
19 Depository institutions 248.7 201.4 181.5
20 Mutual funds 228.6 220.8 257.5
21 Insurance companies 123.4 110.2 105.7
22 State and local treasuries (7) 266.8 236.2 256.5
Individuals
23 Savings bonds 186.4 184.8 190.3
24 Pension funds 321.0 304.1 281.6
25 Private 109.8 108.4 104.2
26 State and Local 211.2 195.7 177.4
27 Foreign and international (8) 1,268.7 1,034.2 1,053.1
28 Other miscellaneous investors (7,9) 590.3 588.7 493.3
Type and holder 2002 2002 2003
Q4 Q1
1 Total gross public debt 6,405.7 6,405.7 6,460.8
By type
2 Interest-bearing 6,391.4 6,391.4 6,474.0
3 Marketable 3,205.1 3,205.1 3,331.8
4 Bills 888.8 888.8 955.0
5 Notes 1,580.8 1,580.8 1,622.9
6 Bonds 588.7 588.7 585.7
7 Inflation-indexed notes and
bonds (1) 146.9 146.9 153.2
8 Nonmarketable (2) 3,186.3 3,186.3 3,142.2
9 State and local government
series 153.4 153.4 148.8
10 Foreign issue (3) 11.2 11.2 12.2
11 Government 11.2 11.2 12.2
12 Public .0 .0 .0
13 Savings bonds and notes 184.8 184.8 187.3
14 Government account series (4) 2,806.9 2,806.9 2,763.8
15 Non-interest-bearing 14.3 14.3 13.8
By holders (5)
16 U.S. Treasury and other federal
agencies and trust funds 2,757.8 2,575.8 2,763.3
17 Federal Reserve Banks 629.4 629.4 641.5
18 Private investors 3,018.5 3,018.5 3,056.0
19 Depository institutions 222.6 222.6 153.1
20 Mutual funds 279.0 279.0 296.3
21 Insurance companies 133.9 133.9 151.2
22 State and local treasuries (7) 274.2 274.2 306.2
Individuals
23 Savings bonds 194.9 194.9 196.9
24 Pension funds 289.9 289.9 244.2
25 Private 113.6 113.6 66.9
26 State and Local 176.3 176.3 177.2
27 Foreign and international (8) 1,212.7 1,212.7 1,254.6
28 Other miscellaneous investors (7,9) 433.8 433.8 443.4
Type and holder 2003
Q2 Q3
1 Total gross public debt 6,670.1 6,783.2
By type
2 Interest-bearing 6,656.5 6,754.8
3 Marketable 3,379.0 3,460.6
4 Bills 927.8 918.2
5 Notes 1,713.7 1,799.4
6 Bonds 582.4 576.8
7 Inflation-indexed notes and
bonds (1) 155.0 166.1
8 Nonmarketable (2) 3,277.6 3,294.2
9 State and local government
series 140.5 148.4
10 Foreign issue (3) 11.7 11.0
11 Government 11.7 11.0
12 Public .0 .0
13 Savings bonds and notes 189.9 192.6
14 Government account series (4) 2,905.5 2,912.2
15 Non-interest-bearing 13.6 13.4
By holders (5)
16 U.S. Treasury and other federal
agencies and trust funds 2,853.3 n.a.
17 Federal Reserve Banks 652.1 656.1
18 Private investors 3,164.7 n.a.
19 Depository institutions 144.8 n.a.
20 Mutual funds 298.5 n.a.
21 Insurance companies 161.7 n.a.
22 State and local treasuries (7) 318.5 n.a.
Individuals
23 Savings bonds 199.1 n.a.
24 Pension funds 254.5 n.a.
25 Private 69.1 n.a.
26 State and Local 185.4 n.a.
27 Foreign and international (8) 1,355.3 n.a.
28 Other miscellaneous investors (7,9) n.a. n.a.
(1) The U.S. Treasury first issued inflation-indexed securities during
the first quarter of 1997.
(2.) Includes (not shown separately) securities issued to the Rural
Electrification Administration, depository bonds, retirement plan
bonds, and individual retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal agencies
and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies and
trust funds are actual holdings; data for other groups are Treasury
estimates.
(6.) 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 deceased debt
backed by nonmarketable federal securities was removed from "Other
miscellaneous investors" and added it) "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 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 June July Aug.
By type of security
1 U.S. Treasury bills 50,058 38,948 39,860
Treasury coupon securities by
maturity
2 Three years or less 152,654 143,806 140,206
3 More than three but less than
or equal to six year 131,546 137,381 130,035
4 More than six but less than or
equal to eleven years 106,432 131,663 124,686
5 More than eleven 31,439 31,296 28,018
6 Inflation-indexed (2) 2,949 6,157 3,269
Federal agency and government-
sponsored enterprises
7 Discount notes 62,416 52,616 56,242
Coupon securities by maturity
8 Three years or less 13,029 11,854 11,450
9 More than three years but
less than or equal to
six years 10,171 8,078 4,614
10 More than six years but
less than or equal to
eleven years 9,211 6,822 5,213
11 More than eleven years 1,486 1,048 808
12 Mortgage-backed 228,360 242,916 195,712
Corporate securities
13 One year or less 140,708 129,914 134,241
14 More than one year 21,940 20,616 15,874
By type of counterparty
With interdealer broker
15 U.S. Treasury 219,499 222,140 211,840
16 Federal agency and government-
sponsored enterprises 11,148 8,211 6,959
17 Mortgage-backed 62,176 64,153 51,205
18 Corporate 581 587 568
With other
19 U.S. Treasury 255,580 267,111 254,234
20 Federal agency and government- 85,166 72,207 71,367
sponsored enterprises
21 Mortgage-backed 166,185 178,763 144,506
22 Corporate 162,067 149,944 149,546
2003, week ending
Item July 30 Aug. 6 Aug. 13
By type of security
1 U.S. Treasury bills 411,126 40,435 34,249
Treasury coupon securities by
maturity
2 Three years or less 164,430 207,652 137,279
3 More than three but less than
or equal to six year 155,688 195,179 140,241
4 More than six but less than or
equal to eleven years 152,760 183,990 156,274
5 More than eleven 36,986 47,739 28,541
6 Inflation-indexed (2) 3,707 4,420 3,029
Federal agency and government-
sponsored enterprises
7 Discount notes 52,289 62,536 60,422
Coupon securities by maturity
8 Three years or less 13,121 13,116 11,799
9 More than three years but
less than or equal to
six years 7,761 6,465 5,548
10 More than six years but
less than or equal to
eleven years 6,657 8,628 6,174
11 More than eleven years 1,039 1,478 897
12 Mortgage-backed 199,351 239,283 311,505
Corporate securities
13 One year or less 118,830 127,184 130,215
14 More than one year 20,597 19,707 16,832
By type of counterparty
With interdealer broker
15 U.S. Treasury 251,770 302,845 227,331
16 Federal agency and government-
sponsored enterprises 8,357 9,182 7,809
17 Mortgage-backed 55,577 57,774 75,236
18 Corporate 776 676 592
With other
19 U.S. Treasury 301,927 376,570 272,282
20 Federal agency and government- 72,511 83,039 77,031
sponsored enterprises
21 Mortgage-backed 143,774 181,508 236,269
22 Corporate 138,652 146,214 146,455
2003, week ending
Item Aug. 20 Aug. 27 Sept. 3
By type of security
1 U.S. Treasury bills 34,815 44,759 53,104
Treasury coupon securities by
maturity
2 Three years or less 105,718 130,553 122,982
3 More than three but less than
or equal to six year 92,726 114,815 105,559
4 More than six but less than or
equal to eleven years 94,188 93,774 80,634
5 More than eleven 22,577 20,017 20,878
6 Inflation-indexed (2) 3,318 2,843 2,507
Federal agency and government-
sponsored enterprises
7 Discount notes 56,696 47,979 52,731
Coupon securities by maturity
8 Three years or less 11,489 11,299 7,521
9 More than three years but
less than or equal to
six years 3,768 3,642 3,118
10 More than six years but
less than or equal to
eleven years 3,564 4,190 2,663
11 More than eleven years 625 469 546
12 Mortgage-backed 167,495 104,888 116,685
Corporate securities
13 One year or less 148,655 129,006 135,471
14 More than one year 15,134 14,020 12,296
By type of counterparty
With interdealer broker
15 U.S. Treasury 162,456 186,503 177,908
16 Federal agency and government-
sponsored enterprises 6,301 5,980 4,484
17 Mortgage-backed 51,455 27,525 36,569
18 Corporate 601 466 469
With other
19 U.S. Treasury 190,886 220,258 207,756
20 Federal agency and government- 69,841 61,598 62,096
sponsored enterprises
21 Mortgage-backed 116,041 77,363 80,116
22 Corporate 163,188 142,561 147,298
2003, week ending
Item Sept. 10 Sept. 17 Sept. 24
By type of security
1 U.S. Treasury bills 41,609 34,290 32,770
Treasury coupon securities by
maturity
2 Three years or less 147,173 142,976 162,411
3 More than three but less than
or equal to six year 161,479 159,283 125,444
4 More than six but less than or
equal to eleven years 113,108 116,465 125,122
5 More than eleven 26,733 23,054 23,571
6 Inflation-indexed (2) 2,930 3,054 2,919
Federal agency and government-
sponsored enterprises
7 Discount notes 54,862 55,197 51,199
Coupon securities by maturity
8 Three years or less 12,588 9,160 10,934
9 More than three years but
less than or equal to
six years 8,657 7,463 6,569
10 More than six years but
less than or equal to
eleven years 4,188 6,996 10,417
11 More than eleven years 653 927 1,057
12 Mortgage-backed 278,078 229,370 131,204
Corporate securities
13 One year or less 140,254 124,492 130,534
14 More than one year 20,419 24,220 27,170
By type of counterparty
With interdealer broker
15 U.S. Treasury 234,443 225,718 228,500
16 Federal agency and government-
sponsored enterprises 8,260 8,848 11,649
17 Mortgage-backed 64,171 60,806 38,334
18 Corporate 581 770 655
With other
19 U.S. Treasury 258,588 253,404 243,737
20 Federal agency and government- 72,689 70,896 68,526
sponsored enterprises
21 Mortgage-backed 213,906 168,564 92,870
22 Corporate 160,092 147,942 157,050
NOTE. Major changes in the report from 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, and corporate securities scheduled for immediate
and forward delivery, as well as all U.S. government securities
traded on a when issued basis between the announcement and issue date.
Data do not include transactions under repurchase and reverse
repurchase (resale) agreements. Averages are based on the number of
trading days in the week.
(2.) Outright Treasury inflation-indexed securities (TIIS)
transactions are reported at principal value, excluding accrued
interest, where principal value reflects the original issuance par
amount (unadjusted for inflation) times the price litres the index
ratio.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2003
Item, by type of security June July Aug.
Net outright positions (2)
1 U.S. Treasury bills 9,882 10,596 20,019
Treasury coupon securities by
maturity
2 Three years or less -11,958 -18,548 -11,140
3 More than three years but
less than or equal to
six years -45,702 -54,366 -41,247
4 More than six but less than
or equal to eleven years -11,295 -18,655 -12,959
5 More than eleven 680 4,869 2,871
6 Inflation-indexed 854 911 709
Federal agency and government
sponsored enterprises
7 Discount notes 61,088 59,856 43,786
Coupon securities, by maturity
8 Three years or less 17,246 15,782 13,291
9 More than three years but
less than or equal to
six years 2,400 4,399 681
10 More than six but less than
or equal to eleven years 4,057 5,336 2,787
11 More than eleven 2,748 2,204 1,476
12 Mortgage-backed 55,930 57,244 20,020
Corporate securities
13 One year or less 33,054 32,644 31,645
14 More than one year 58,821 65,577 80,204
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 739,231 726,387 726,152
16 Term 944,185 937,832 928,602
Federal agency and government
sponsored enterprises
17 Overnight ad continuing 151,751 147,727 161,323
18 Term 254,853 245,668 233,519
Mortgage-hacked securities
19 Overnight and continuing 36,223 37,704 37,545
20 Term 249,278 253,576 247,185
Corporate securities
21 Overnight and continuing 71,329 76,154 76,406
22 Term 28,474 30,092 30,044
MEMO
Reverse repurchase agreements
23 Overnight and continuing 510,880 472,181 473,738
24 Term 1,297,890 1,288,014 1,264,124
Securities out, U.S. Treasury
25 Overnight and continuing 711,222 686,520 678,081
26 Term 849,957 832,743 848,932
Federal agency and government
sponsored enterprise
27 Overnight and continuing 295,952 286,946 278,201
28 Term 195,981 190,018 179,519
Mortgage-backed securities
29 Overnight and continuing 356,571 372,739 358,960
30 Term 141,975 160,896 162,755
Corporate securities
31 Overnight and continuing 156,474 159,712 153,915
32 Term 26,437 27,191 31,618
MEMO
Repurchase agreements
33 Overnight and continuing 1,305,120 1,276,928 1,235,582
34 Term 1,163,284 1,164,237 1,178,163
2003, week ending
Item, by type of security July 30 Aug. 6 Aug. 13
Net outright positions (2)
1 U.S. Treasury bills 11,936 19,935 21,752
Treasury coupon securities by
maturity
2 Three years or less -17,454 -2,969 -9,011
3 More than three years but
less than or equal to
six years -56,769 -44,503 -39,039
4 More than six but less than
or equal to eleven years -17,893 -16,455 -13,698
5 More than eleven 6,455 2,835 1,742
6 Inflation-indexed 1,085 988 622
Federal agency and government
sponsored enterprises
7 Discount notes 49,592 41,628 53,754
Coupon securities, by maturity
8 Three years or less 15,413 10,228 12,736
9 More than three years but
less than or equal to
six years 5,704 1,714 806
10 More than six but less than
or equal to eleven years 4,137 3,262 3,304
11 More than eleven 1,771 1,569 1,635
12 Mortgage-backed 45,610 22,725 19,517
Corporate securities
13 One year or less 32,083 33,190 40,351
14 More than one year 79,440 80,653 81,434
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 714,798 756,459 688,920
16 Term 997,897 1,017,424 1,021,876
Federal agency and government
sponsored enterprises
17 Overnight ad continuing 140,723 154,493 162,483
18 Term 244,102 240,508 244,190
Mortgage-hacked securities
19 Overnight and continuing 37,599 34,959 41,193
20 Term 256,505 256,354 250,742
Corporate securities
21 Overnight and continuing 76,580 77,312 76,186
22 Term 29,804 29,791 29,847
MEMO
Reverse repurchase agreements
23 Overnight and continuing 465,221 491,999 448,293
24 Term 1,343,545 1,359,981 1,364,600
Securities out, U.S. Treasury
25 Overnight and continuing 683,907 707,630 647,169
26 Term 889,446 935,844 939,314
Federal agency and government
sponsored enterprise
27 Overnight and continuing 277,779 270,689 285,503
28 Term 184,957 183,815 190,915
Mortgage-backed securities
29 Overnight and continuing 368,093 359,630 382,491
30 Term 171,387 161,145 171,184
Corporate securities
31 Overnight and continuing 160,971 158,525 163,204
32 Term 27,500 32,432 31,792
MEMO
Repurchase agreements
33 Overnight and continuing 1,257,702 1,261,321 1,248,439
34 Term 1,226,689 1,264,172 1,292,554
2003, week ending
Item, by type of security Aug. 20 Aug. 27 Sept. 3
Net outright positions (2)
1 U.S. Treasury bills 21,314 12,316 28,330
Treasury coupon securities by
maturity
2 Three years or less -12,258 -13,423 -20,399
3 More than three years but
less than or equal to
six years -42,893 -41,277 -37,292
4 More than six but less than
or equal to eleven years -10,152 -11,456 -13,963
5 More than eleven 3,593 3,448 2,631
6 Inflation-indexed -30 1,137 986
Federal agency and government
sponsored enterprises
7 Discount notes 42,795 37,515 42,287
Coupon securities, by maturity
8 Three years or less 14,789 14,235 14,587
9 More than three years but
less than or equal to
six years 588 176 -37
10 More than six but less than
or equal to eleven years 2,470 2,709 1,858
11 More than eleven 1,545 1,363 1,137
12 Mortgage-backed 19,391 20,432 17,225
Corporate securities
13 One year or less 29,484 24,991 29,517
14 More than one year 80,703 78,508 79,473
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 724,763 723,335 753,204
16 Term 84,926 873,617 867,209
Federal agency and government
sponsored enterprises
17 Overnight ad continuing 158,073 166,970 165,344
18 Term 230,255 227,890 219,924
Mortgage-hacked securities
19 Overnight and continuing 44,250 32,481 32,165
20 Term 242,453 246,566 236,573
Corporate securities
21 Overnight and continuing 75,442 76,512 76,930
22 Term 30,339 29,529 31,154
MEMO
Reverse repurchase agreements
23 Overnight and continuing 471,250 473,573 495,517
24 Term 1,179,112 1,209,353 1,189,124
Securities out, U.S. Treasury
25 Overnight and continuing 685,678 664,142 698,951
26 Term 762,225 802,880 792,725
Federal agency and government
sponsored enterprise
27 Overnight and continuing 273,716 285,717 271,384
28 Term 178,610 171,018 169,600
Mortgage-backed securities
29 Overnight and continuing 360,126 355,273 321,189
30 Term 175,097 153,065 145,930
Corporate securities
31 Overnight and continuing 152,417 143,717 151,213
32 Term 31,862 32,042 28,927
MEMO
Repurchase agreements
33 Overnight and continuing 1,237,390 1,216,190 1,205,246
34 Term 1,104,971 1,118,035 1,099,772
2003, week ending
Item, by type of security Sept. 10 Sept. 17
Net outright positions (2)
1 U.S. Treasury bills 26,500 6,328
Treasury coupon securities by
maturity
2 Three years or less -20,614 -5,595
3 More than three years but
less than or equal to
six years -33,677 -30,494
4 More than six but less than
or equal to eleven years -8,688 -2,718
5 More than eleven 927 -490
6 Inflation-indexed 1,476 1,815
Federal agency and government
sponsored enterprises
7 Discount notes 50,206 48,716
Coupon securities, by maturity
8 Three years or less 14,410 11,414
9 More than three years but
less than or equal to
six years 1,933 22
10 More than six but less than
or equal to eleven years 3,609 3,081
11 More than eleven 1,174 1,528
12 Mortgage-backed 8,864 10,705
Corporate securities
13 One year or less 31,462 33,417
14 More than one year 80,780 86,674
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 759,982 744,634
16 Term 935,107 983,104
Federal agency and government
sponsored enterprises
17 Overnight ad continuing 176,133 160,763
18 Term 222,302 223,068
Mortgage-hacked securities
19 Overnight and continuing 36,958 33,998
20 Term 239,084 236,000
Corporate securities
21 Overnight and continuing 79,705 80,912
22 Term 31,014 31,149
MEMO
Reverse repurchase agreements
23 Overnight and continuing 506,823 478,313
24 Term 1,253,067 1,295,598
Securities out, U.S. Treasury
25 Overnight and continuing 704,956 687,425
26 Term 854,923 907,685
Federal agency and government
sponsored enterprise
27 Overnight and continuing 294,768 287,945
28 Term 172,032 171,935
Mortgage-backed securities
29 Overnight and continuing 313,464 348,854
30 Term 154,472 149,538
Corporate securities
31 Overnight and continuing 143,654 157,240
32 Term 29,719 27,748
MEMO
Repurchase agreements
33 Overnight and continuing 1,224,407 1,250,787
34 Term 1,167,228 1,214,144
NOTES. Major changes in the report form filed by primary dealer,
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 U.S.
government securities dealers on its published list of primary
dealers. Weekly figures are close-of-business Wednesday data.
Positions for calendar days of the report week are assumed to
be constant. Monthly averages are based on the
number of calendar days in the moral.
(2.) Net outright positions include all U.S, government, federal
agency, government-sponsored enterprise, mortgage-backed, and
corporate securities scheduled for immediate and forward delivery,
as well as U.S. government securities traded on a when-issued basis
between the announcement and issue date.
(3.) Figures cover financing U.S. government, federal agency,
government-sponsored enterprise, mortgage backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received,
except for pledged securities. TIIS that are issued as pledged
securities are reported at par value, which is the value of the
security at original issuance (unadjusted for inflation).
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 1,296,477 1,616,492 1,851,632
2 Federal agencies 26,502 26,376 25,666
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2, 3) n.a. n.a. n.a.
5 Federal Housing Administration 205 126 255
6 Government National Mortgage
Association certificates
of participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 26,496 26,370 25,660
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,269,975 1,590,116 1,825,966
11 Federal Home Loan Banks 382,131 529,005 594,404
12 Federal Home Loan Mortgage
Corporation 287,396 360,711 426,899
13 Federal National Mortgage
Association 460,291 547,619 642,700
14 Farm Credit Banks (8) 63,488 68,883 74,181
15 Student Loan Marketing
Association (9) 35,399 41,988 45,375
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 44,129 42,152 40,575
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 9,500 6,665 5,275
26 Rural Electrification
Administration 14,091 14,085 13,126
27 Other 20,538 21,402 22,174
2003
Agency 2002 Mar. Apr.
1 Federal and federally sponsored
agencies 2,121,057 n.a. n.a.
2 Federal agencies 276 26,886 26,450
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2, 3) n.a. n.a. n.a.
5 Federal Housing Administration 26,828 166 195
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 26,880 26,444
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 2,120,781 n.a. n.a.
11 Federal Home Loan Banks 623,740 687,573 706,215
12 Federal Home Loan Mortgage
Corporation 565,071 n.a. n.a.
13 Federal National Mortgage
Association 703,501 873,900 871,500
14 Farm Credit Banks (8) 76,673 86,802 87,591
15 Student Loan Marketing
Association (9) 48,350 49,100 51,200
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 39,096 35,780 35,808
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration n.a. n.a. n.a.
26 Rural Electrification
Administration 13,876 14,750 14,760
27 Other 25,220 21,030 21,048
2003
Agency May June July
1 Federal and federally sponsored
agencies n.a. n.a. n.a.
2 Federal agencies 26,500 27,015 26,992
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2, 3) n.a. n.a. n.a.
5 Federal Housing Administration 218 227 247
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 26,494 27,009 26,986
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) n.a. n.a. n.a.
11 Federal Home Loan Banks 717,900 712,447 704,276
12 Federal Home Loan Mortgage
Corporation n.a. n.a. n.a.
13 Federal National Mortgage
Association 876,200 884,100 894,855
14 Farm Credit Banks (8) 89,007 8,913 90,024
15 Student Loan Marketing
Association (9) 54,200 52,700 55,100
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) 36,383 36,361 36,522
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration n.a. n.a. n.a.
26 Rural Electrification
Administration 14,793 15,383 15,419
27 Other 21,590 20,978 21,103
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt
beginning Oct. 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance claims. Once issued. these securities may
be sold privately on the securities market.
(5.) Certificates of participation issued before fiscal year 1969 by
the Government National Mortgage Association acting as trustee for
the Farmers Home Administration; the Department of Health, Education,
and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes, bonds,
and debentures. Includes Federal Agriculture Mortgage Corporation:
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, which is shown on line 17.
(9.) Before late 1982, the association obtained financing through the
Federal Financing Bank (FFB). Borrowing excludes that obtained from
the FFB, which is shown on line 22.
(10.) The Financing Corporation. established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11.) The Farm Credit Financial Assistance Corporation, established
in January 1988 to provide assistance to the Farm Credit System,
undertook its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the
Financial Institutions Reform, Recovery, and Enforcement Act of
1989, undertook its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by other
federal agencies. Because FFB incurs debt solely for the purpose of
lending to other agencies, its debt is not included in the main portion
of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans:
the latter are loans guaranteed by numerous agencies, with the amounts
guaranteed by any one agency generally being small. The Farmers Home
Administration entry consists exclusively of agency assets, whereas
the Rural Electrification Administration entry consists of both agency
assets and guaranteed loans.
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
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 30,099 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 154,257 200,363 243,181 (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
Type of issue or issuer,
or use 2003
Feb. Mar. Apr.
1 All issues, new and refunding
(1) 30,171 28,268 (r) 34,917 (r)
By type of issue
2 General obligation 12,772 9,794 14,815
3 Revenue 17,399 18,475 (r) 24,101 (r)
By type of issuer
4 State 3,604 1,277 5,521
5 Special district or statutory
authority (2) 20,893 19,777 23,917 (r)
6 Municipality, county, or
township 5,674 7,214 (r) 5,478
7 Issues for new capital 20,339 16,116 (r) 24,714 (r)
By use of proceeds
8 Education 7,067 5,354 7,591
9 Transportation 1,625 1,233 3,479
10 Utilities and conservation 183 599 842
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 1,076 (r) 1,602 1,828
13 Other purposes 7,232 (r) 3,724 8,396
Type of issue or issuer,
or use 2003
May (r) June (r) July (r)
1 All issues, new and refunding
(1) 36,052 48,346 33,139
By type of issue
2 General obligation 13,067 23,690 12,626
3 Revenue 22,985 24,656 20,513
By type of issuer
4 State 2,808 14,411 2,924
5 Special district or statutory
authority (2) 22,907 26,369 22,061
6 Municipality, county, or
township 10,337 7,567 8,154
7 Issues for new capital 21,273 35,927 21,906
By use of proceeds
8 Education 7,109 6,128 4,951
9 Transportation 1,891 2,049 2,656
10 Utilities and conservation 1,008 2,016 446
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 3,209 1,655 2,317
13 Other purposes 5,603 19,878 6,685
Type of issue or issuer,
or use 2003
Aug. (r) Sept.
1 All issues, new and refunding
(1) 26,076 25,621
By type of issue
2 General obligation 7,151 6.688
3 Revenue 18,925 18,934
By type of issuer
4 State 2,197 555
5 Special district or statutory
authority (2) 17,425 20,596
6 Municipality, county, or
township 6,453 4,470
7 Issues for new capital 18,704 20,035
By use of proceeds
8 Education 6,992 4,764
9 Transportation 3,089 1,624
10 Utilities and conservation 746 207
11 Social welfare n.a. n.a.
12 Industrial aid 1,714 2,272
13 Other purposes 3,734 8,352
(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 before then.
1.46 NEW SECURITY ISSUES U.S. Corporations
Millions of dollars
Type of issue, offering, 2000 2001 2002
or issuer
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 24,415 18,870
By industry group
6 Nonfinancial 258,804 459,560 282,484
7 Financial 686,006 953,707 1,036,379
8 Stocks (3) 311,941 230,049 (r) 170,794 (r)
By type of offering
9 Public 134,917 128,554 110,435
10 Private placement 177,024 101,495 (r) 60,359 (r)
By industry group (4)
11 Nonfinancial 118,369 77,577 62,115
12 Financial 16,548 50,977 48,320
Type of issue, offering,
or issuer 2003
Jan. Feb. Mar.
1 All issues (1) 127,304 134,957 155,821
2 Bonds (2) 120,177 127,818 149,928
By type of offering
3 Sold in the United States 113,951 118,567 144,315
4 Sold abroad 6,226 9,250 5,613
MEMO
5 Private placements, domestic 4,553 1,087 1,760
By industry group
6 Nonfinancial 28,461 26,991 27,514
7 Financial 91,716 100,826 122,414
8 Stocks (3) 7,127 7,139 5,893
By type of offering
9 Public 7,127 7,139 5,893
10 Private placement n.a. n.a. n.a.
By industry group
11 Nonfinancial 3,793 2,679 1,053
12 Financial 3,334 4,460 4,840
Type of issue, offering,
or issuer 2003
Apr. May June
1 All issues (1) 125,223 170,003 179,615
2 Bonds (2) 116,861 161,265 163,726
By type of offering
3 Sold in the United States 114,277 149,437 147,835
4 Sold abroad 2,585 11,828 15,890
MEMO
5 Private placements, domestic 1,189 1,804 4,140
By industry group
6 Nonfinancial 22,153 48,353 52,139
7 Financial 94,708 112,912 111,587
8 Stocks (3) 8,362 8,738 15,889
By type of offering
9 Public 8,362 8,738 15,889
10 Private placement n.a. n.a. n.a.
By indoors group
11 Nonfinancial 1,592 3,075 4,727
12 Financial 6,770 5,663 11,162
Type of issue, offering,
or issuer 2003
July Aug.
1 All issues (1) 126,114 119,840
2 Bonds (2) 116,806 110,158
By type of offering
3 Sold in the United States 104,875 103,683
4 Sold abroad 11,931 6,475
MEMO
5 Private placements, domestic n.a. n.a.
By industry group
6 Nonfinancial 28,425 17,556
7 Financial 88,381 92,603
8 Stocks (3) 9,308 9,682
By type of offering
9 Public 9,308 9,682
10 Private placement n.a. n.a.
By indoors group
11 Nonfinancial 3,333 1,988
12 Financial 5,975 7,694
(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) Feb.
1 Sales of own shares (2) 1,806,474 1,825,732 122,321
2 Redemptions of own shares 1,677,266 1,702,677 113,643
3 Net sales (3) 129,208 123,055 8,678
4 Assets (4) 4,689,624 4,119,322 4,031,818
5 Cash (5) 219,620 208,479 199,546
6 Other 4,470,004 3,910,843 3,832,272
2003
Item Mar. Apr. May
1 Sales of own shares (2) 140,643 141,465 142,688
2 Redemptions of own shares 129,337 112,109 118,794
3 Net sales (3) 11,306 29,356 23,894
4 Assets (4) 4,059,934 4,327,560 4,563,023
5 Cash (5) 214,146 230,032 232,836
Other 3,845,788 4,097,528 4,330,187
2003
Item June July Aug. (r)
1 Sales of own shares (2) 157,773 153,832 139,162
2 Redemptions of own shares 130,024 139,690 125,013
3 Net sales (3) 27,749 14,142 14,149
4 Assets (4) 4,653,085 4,714,516 4,830,159
5 Cash (5) 236,547 220,372 226,089
Other 4,416,538 4,494,144 4,604,070
2003
Item Sept.
1 Sales of own shares (2) 142,332
2 Redemptions of own shares 127,100
3 Net sales (3) 15,232
4 Assets (4) 4,848,827
5 Cash (5) 231,898
Other 4,616,929
(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 finds 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)
Billion of dollars, end of period; not seasonally adjusted
Account 2000 2001 2002
ASSETS
1 Accounts receivable, gross (2) 958.7 948.3 945.4
2 Consumer 328.0 340.1 315.6
3 Business 458.4 447.0 455.3
4 Real estate 172.3 161.3 174.5
5 LESS: Reserves for unearned income 69.7 60.6 57.0
6 Reserves for losses 16.7 21.0 23.8
7 Accounts receivable, net 872.3 866.7 864.5
8 All other 461.5 523.4 584.7
9 Total assets 1,333.7 1,390.1 1,449.3
LIABILITIES AND CAPITAL
10 Bank loans 35.9 50.8 48.0
11 Commercial paper 238.8 158.6 141.5
Debt
12 Owed in parent 102.5 99.2 88.2
13 Not elsewhere classified 502.2 567.4 624.9
14 All other liabilities 301.8 325.5 339.0
15 Capital, surplus, and undivided
profits 152.5 188.6 207.6
16 Total liabilities and capital 1,333.7 1,390.1 1,449.3
2002
Account
Q1 Q2 Q3
ASSETS
1 Accounts receivable, gross (2) 930.0 941.9 945.6
2 Consumer 329.8 332.0 334.5
3 Business 443.0 449.4 445.5
4 Real estate 157.2 160.5 165.5
5 LESS: Reserves for unearned income 59.5 58.5 58.0
6 Reserves for losses 21.5 21.6 22.0
7 Accounts receivable, net 849.0 861.9 865.6
8 All other 515.2 530.6 558.0
9 Total assets 1,364.2 1,392.5 1,423.6
LIABILITIES AND CAPITAL
10 Bank loans 49.4 56.9 74.9
11 Commercial paper 137.0 130.8 143.1
Debt
12 Owed in parent 82.6 83.3 82.9
13 Not elsewhere classified 574.4 597.2 584.9
14 All other liabilities 329.1 331.5 343.4
15 Capital, surplus, and undivided
profits 191.7 192.9 194.5
16 Total liabilities and capital 1,364.2 1,392.5 1,423.6
2002 2003
Account
Q4 Q1 Q2
ASSETS
1 Accounts receivable, gross (2) 945.4 934.9 947.9
2 Consumer 315.6 307.1 308.6
3 Business 455.3 453.9 455.8
4 Real estate 174.5 173.9 183.4
5 LESS: Reserves for unearned income 57.0 54.2 53.8
6 Reserves for losses 23.8 24.0 24.5
7 Accounts receivable, net 864.5 856.7 869.6
8 All other 584.7 610.9 655.9
9 Total assets 1,449.3 1,467.7 1,525.5
LIABILITIES AND CAPITAL
10 Bank loans 48.0 47.3 53.2
11 Commercial paper 141.5 127.3 145.3
Debt
12 Owed in parent 88.2 87.7 96.6
13 Not elsewhere classified 624.9 639.1 657.9
14 All other liabilities 339.0 344.4 359.1
15 Capital, surplus, and undivided
profits 207.6 221.9 213.5
16 Total liabilities and capital 1,449.3 1,467.7 1,525.5
2003
Account
Q3
ASSETS
1 Accounts receivable, gross (2) n.a.
2 Consumer n.a.
3 Business n.a.
4 Real estate n.a.
5 LESS: Reserves for unearned income n.a.
6 Reserves for losses n.a.
7 Accounts receivable, net n.a.
8 All other n.a.
9 Total assets n.a.
LIABILITIES AND CAPITAL
10 Bank loans n.a.
11 Commercial paper n.a.
Debt
12 Owed in parent n.a.
13 Not elsewhere classified n.a.
14 All other liabilities n.a.
15 Capital, surplus, and undivided
profits n.a.
16 Total liabilities and capital n.a.
(1.) Includes finance company subsidiaries of bank holding companies
but not of retailers and banks. Data are amounts carried on the balance
sheets of finance companies; securitized pools are not shown, as they
are not on the books.
(2.) Before deduction for unearned income and losses. Excludes pools of
securitized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amounts outstanding
Type of credit 2000 2001 2002
Seasonally adjusted
1 Total 1,186.3 1,248.1 1,275.9
2 Consumer 465.0 514.8 518.6
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 1,255.3 1,283.4
6 Consumer 469.0 519.7 523.9
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 32.7 38.7
Securitized assets (4)
11 Motor vehicle loans 97.1 131.9 151.9
12 Motor vehicle leases 6.6 6.8 5.7
13 Revolving 19.6 25.0 31.1
14 Other 17.1 14.3 14.0
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 40.7 39.7
19 Other 1.9 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 5.1 2.4
31 Wholesale loans 32.5 42.5 45.9
32 Leases 2.2 2.5 1.9
33 Equipment 23.1 23.2 20.2
34 Loans 15.5 16.4 13.0
35 Leases 7.6 6.8 7.2
36 Other business receivables (6) 5.6 7.7 17.4
2003
Type of credit Mar. Apr. May
Seasonally adjusted
1 Total 1,283.1 1,290.3 1,297.1
2 Consumer 521.7 525.3 523.6
3 Real estate 215.4 220.4 224.6
4 Business 546.0 544.6 548.9
Not seasonally adjusted
5 Total 1,286.3 1,293.4 1,297.4
6 Consumer 518.2 521.7 519.1
7 Motor vehicle loans 156.2 160.9 162.8
8 Motor vehicle leases 81.8 81.2 79.0
9 Revolving (2) 36.3 37.6 34.5
10 Other (3) 40.9 42.4 42.5
Securitized assets (4)
11 Motor vehicle loans 152.1 149.4 150.3
12 Motor vehicle leases 6.2 6.1 6.0
13 Revolving 30.7 30.6 30.7
14 Other 13.9 13.6 13.2
15 Real estate 215.4 220.4 224.6
16 One- to four-family 133.9 138.8 143.0
17 Other 40.1 40.4 40.7
Securitized real estate assets (4)
18 One- to four-family 39.2 38.9 38.6
19 Other 2.2 2.2 2.2
20 Business 552.8 551.4 553.7
21 Motor vehicles 65.3 64.1 68.0
22 Retail loans 16.3 16.8 17.1
23 Wholesale loans (5) 34.0 34.5 36.1
24 Leases 15.0 12.8 14.8
25 Equipment 287.5 286.0 284.5
26 Loans 78.0 79.0 77.6
27 Leases 209.5 207.0 207.0
28 Other business receivables (6) 101.1 103.0 103.1
Securitized assets (4)
29 Motor vehicles 53.1 53.1 52.2
30 Retail loans 2.2 2.2 2.2
31 Wholesale loans 48.6 48.6 47.8
32 Leases 2.2 2.2 2.2
33 Equipment 21.9 21.4 21.6
34 Loans 12.2 11.8 12.0
35 Leases 9.7 9.6 9.6
36 Other business receivables (6) 23.9 23.9 24.2
2003
Type of credit June July Aug.
Seasonally adjusted
1 Total 1,286.0 1,291.5 1,301.5
2 Consumer 516.8 516.2 520.8
3 Real estate 224.1 231.9 232.9
4 Business 545.1 543.5 547.7
Not seasonally adjusted
5 Total 1,293.1 1,288.0 1,292.4
6 Consumer 516.2 516.2 521.2
7 Motor vehicle loans 166.6 172.7 178.0
8 Motor vehicle leases 76.7 74.8 73.2
9 Revolving (2) 34.6 35.0 36.6
10 Other (3) 43.1 42.0 44.4
Securitized assets (4)
11 Motor vehicle loans 146.5 143.6 141.8
12 Motor vehicle leases 6.0 5.9 5.8
13 Revolving 29.5 29.2 28.8
14 Other 13.2 12.9 12.5
15 Real estate 224.1 231.9 232.9
16 One- to four-family 142.5 150.7 152.0
17 Other 40.9 40.8 40.8
Securitized real estate assets (4)
18 One- to four-family 38.4 38.1 37.8
19 Other 2.2 2.2 2.2
20 Business 552.9 539.9 538.3
21 Motor vehicles 69.9 61.9 60.9
22 Retail loans 17.2 17.7 17.6
23 Wholesale loans (5) 38.4 30.0 29.1
24 Leases 14.2 14.2 14.2
25 Equipment 283.4 281.0 281.1
26 Loans 77.5 76.3 76.7
27 Leases 205.9 204.7 204.4
28 Other business receivables (6) 102.6 102.9 102.0
Securitized assets (4)
29 Motor vehicles 50.0 46.7 47.0
30 Retail loans 2.2 2.2 2.2
31 Wholesale loans 45.6 42.3 42.7
32 Leases 2.1 2.1 2.1
33 Equipment 23.5 23.7 23.4
34 Loans 12.9 13.1 12.8
35 Leases 10.6 10.6 10.6
36 Other business receivables (6) 23.6 23.8 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, store 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 sonic 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 said 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
Item 2000 2001 2002
Terms and yields in pri-
mary and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 234.5 245.0 261.1
2 Amount of loan (thousands of dollars) 177.0 184.2 197.0
3 Loan-to-price ratio (percent) 77.4 77.3 77.8
4 Maturity (years) 29.2 28.8 28.9
5 Fees and charges (percent of loan
amount) (2) .70 .67 .62
Yield (percent per year)
6 Contract rate (1) 7.41 6.90 6.35
7 Effective rate (1,3) 7.52 7.00 6.44
8 Contract rate (HUD series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 7.57 6.36 5.81
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 610,122 707,015 790,800
12 FHA/VA insured 61,539 n.a. n.a.
13 Conventional 548,583 n.a. n.a.
14 Mortgage transactions purchased
(during period) 154,231 270,384 370,641
Mortgage holdings (during period)
15 Issued (7) 163,689 304,084 400,327
16 To sell (8) 11,786 7,586 12,268
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 385,693 491,719 568,173
18 FHA/VA insured 3,332 3,506 4,573
19 Conventional 382,361 488,213 563,600
Mortgage transactions (during period)
20 Purchases 174,143 n.a. n.a.
21 Sales 166,901 389,611 547,046
22 Mortgage commitments contracted
(during period) (9) 169,231 417,434 620,981
2003
Item Mar. Apr. May
Terms and yields in pri-
mary and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 252.9 266.0 275.3
2 Amount of loan (thousands of dollars) 184.2 205.0 210.7
3 Loan-to-price ratio (percent) 76.2 78.8 78.7
4 Maturity (years) 28.2 29.0 28.8
5 Fees and charges (percent of loan
amount) (2) .40 .62 .61
Yield (percent per year)
6 Contract rate (1) 5.69 5.83 5.66
7 Effective rate (1,3) 5.75 5.92 5.75
8 Contract rate (HUD series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 4.94 4.97 4.55
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 815,964 817,894 815,560
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions purchased
(during period) 34,304 43,028 43,749
Mortgage holdings (during period)
15 Issued (7) 42,005 42,906 75,569
16 To sell (8) 2,457 1,479 1,785
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 569,522 568,975 572,801
18 FHA/VA insured 3,540 n.a. n.a.
19 Conventional 565,982 n.a. n.a.
Mortgage transactions (during period)
20 Purchases n.a. n.a. n.a.
21 Sales 59,065 51,737 66,175
22 Mortgage commitments contracted
(during period) (9) 69,200 n.a. n.a.
2003
Item June July Aug.
Terms and yields in pri-
mary and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 283.3 283.4 280.1
2 Amount of loan (thousands of dollars) 213.7 214.4 212.1
3 Loan-to-price ratio (percent) 78.0 78.2 78.0
4 Maturity (years) 28.8 28.7 28.5
5 Fees and charges (percent of loan
amount) (2) .64 .62 .66
Yield (percent per year)
6 Contract rate (1) 5.42 5.44 5.68
7 Effective rate (1,3) 5.51 5.53 5.77
8 Contract rate (HUD series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 4.27 5.02 5.48
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 812,467 836,104 863,170
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions purchased
(during period) 41,182 72,447 82,656
Mortgage holdings (during period)
15 Issued (7) 79,172 n.a. n.a.
16 To sell (8) 3,657 n.a. n.a.
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 586,361 595,202 615,986
18 FHA/VA insured n.a. n.a. n.a.
19 Conventional n.a. n.a. n.a.
Mortgage transactions (during period)
20 Purchases n.a. n.a. n.a.
21 Sales 58,124 70,269 91,198
22 Mortgage commitments contracted
(during period) (9) n.a. n.a. n.a.
2003
Item Sept.
Terms and
and yields
in primary
and secon-
dary mar-
kets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 275.6
2 Amount of loan (thousands of dollars) 208.1
3 Loan-to-price ratio (percent) 77.8
4 Maturity (years) 28.8
5 Fees and charges (percent of loan
amount) (2) .68
Yield (percent per year)
6 Contract rate (1) 5.87
7 Effective rate (1,3) 5.97
8 Contract rate (HUD series) (4) n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a.
10 GNMA securities (6) 5.27
Activity
in secon-
dary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 917,123
12 FHA/VA insured n.a.
13 Conventional n.a.
14 Mortgage transactions purchased
(during period) 98,804
Mortgage holdings (during period)
15 Issued (7) n.a.
16 To sell (8) n.a.
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 614,940
18 FHA/VA insured n.a.
19 Conventional n.a.
Mortgage transactions (during period)
20 Purchases n.a.
21 Sales 83,982
22 Mortgage commitments contracted
(during period) (9) 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 often years.
(4.) Average contract rate on new commitments for conventional first
mortgages: from US 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, minimun-downpayment first
mortgages insured by the Federal Housing Administration (FHA) for
immediate delivery in the private secondary market. Based on
transactions on first day of subsequent month.
(6.) Average net yields to investors on fully modified pass-through
securities backed by mortgages and guaranteed by the Government
National Mortgage Association (GNMA), assuming prepayment in twelve
years on pools of thirty-year mortgages insured by the Federal Housing
Administration or guaranteed by the Department of Veterans Affairs.
(7.) Does not include standby commitments issued, but includes standby
commitments converted.
(8.) Includes participation loans as well us 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
1 All holders 6,315,447 6,884,942
By type of property
2 One-to four-family residences 4,787,225 5,205,428
3 Multifamily residences 368,743 403,724
4 Nonfarm, nonresidential 1,056,516 1,166,933
5 Farm 102,964 108,858
By type of holder
6 Major financial institutions 2,394,271 2,618,969
7 Commercial banks (2) 1,495,420 1,660,054
8 One- to four-family 879,576 965,635
9 Multifamily 67,665 77,803
10 Nonfarm, nonresidential 516,333 582,577
11 Farm 31,846 34,039
12 Savings institutions (3) 668,064 722,974
13 One- to four-family 548,222 594,221
14 Multifamily 59,309 61,258
15 Nonfarm, nonresidential 60,063 66,965
16 Farm 470 529
17 Life insurance companies 230,787 235,941
18 One- to four-family 5,934 4,903
19 Multifamily 32,818 33,681
20 Nonfarm, nonresidential 179,048 183,757
21 Farm 12,987 13,600
22 Federal and related agencies 320,054 344,225
23 Government National Mortgage Association 7 6
24 One- to four-family 7 6
25 Multifamily 0 0
26 Farmers Home Administration (4) 73,871 73,323
27 One- to four-family 16,506 16,372
28 Multifamily 11,741 11,733
29 Nonfarm, nonresidential 41,355 41,070
30 Farm 4,268 4,148
31 Federal Housing Admin. and Dept. of
Veterans Affairs 3,712 3,507
32 One- to four-family 1,851 1,308
33 Multifamily 1,861 2,199
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 152 45
40 One- to four-family 25 7
41 Multifamily 29 9
42 Nonfarm, nonresidential 98 29
43 Farm 0 0
44 Federal National Mortgage Association 149,422 155,626
45 One- to four-family 141,195 14,415
46 Multifamily 8,227 11,476
47 Federal Land Bank 34,187 36,326
48 One- to four-family 2,012 2,137
49 Farm 32,175 34,189
50 Federal Home Loan Mortgage Corporation 56,676 59,240
51 One- to four-family 44,321 42,871
52 Multifamily 12,355 16,369
53 Mortgage pools or trusts (5) 2,946,546 3,226,058
54 Government National Mortgage Association 581,263 611,553
55 One- to four-family 565,189 592,624
56 Multifamily 17,074 18,929
57 Federal Home Loan Mortgage Corporation 749,081 822,310
58 One- to four-family 744,619 816,602
59 Multifamily 4,462 5,708
60 Federal National Mortgage Association 960,883 1,057,750
61 One- to four-family 924,941 1,016,398
62 Multifamily 35,942 41,352
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 654,319 734,445
69 One- to four-family (6) 455,021 499,834
70 Multifamily 41,952 47,529
71 Nonfarm, nonresidential 157,346 187,082
72 Farm 0 0
73 Individuals and others (7) 654,576 695,691
74 One- to four-family 456,009 492,429
75 Multifamily 75,076 75,457
76 Nonfarm, nonresidential 102,274 105,453
77 Farm 21,217 22,352
2002
Type of holder and property 2001 Q2
1 All holders 7,585,319 7,967,494
By type of property
2 One-to four-family residences 5,738,111 6,049,571
3 Multifamily residences 449,704 468,374
4 Nonfarm, nonresidential 1,281,168 1,329,097
5 Farm 116,336 120,452
By type of holder
6 Major financial institutions 2,791,076 2,861,224
7 Commercial banks (2) 1,789,819 1,873,362
8 One- to four-family 1,023,851 1,070,513
9 Multifamily 84,851 90,745
10 Nonfarm, nonresidential 645,619 675,119
11 Farm 35,498 36,985
12 Savings institutions (3) 758,236 742,744
13 One- to four-family 620,579 599,377
14 Multifamily 64,592 66,016
15 Nonfarm, nonresidential 72,534 76,799
16 Farm 531 552
17 Life insurance companies 243,021 245,118
18 One- to four-family 4,931 5,162
19 Multifamily 35,631 35,818
20 Nonfarm, nonresidential 188,376 190,050
21 Farm 14,083 14,088
22 Federal and related agencies 376,999 396,091
23 Government National Mortgage Association 8 8
24 One- to four-family 8 8
25 Multifamily 0 0
26 Farmers Home Administration (4) 72,452 71,970
27 One- to four-family 15,824 15,273
28 Multifamily 11,712 11,692
29 Nonfarm, nonresidential 40,965 41,188
30 Farm 3,952 3,817
31 Federal Housing Admin. and Dept. of
Veterans Affairs 3,290 3,473
32 One- to four-family 1,260 1,254
33 Multifamily 2,031 2,218
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 13 22
40 One- to four-family 2 4
41 Multifamily 3 4
42 Nonfarm, nonresidential 8 14
43 Farm 0 0
44 Federal National Mortgage Association 169,908 180,491
45 One- to four-family 155,060 164,038
46 Multifamily 14,848 16,453
47 Federal Land Bank 40,885 42,951
48 One- to four-family 2,406 2,527
49 Farm 38,479 40,424
50 Federal Home Loan Mortgage Corporation 62,792 58,872
51 One- to four-family 40,309 34,062
52 Multifamily 22,483 24,810
53 Mortgage pools or trusts (5) 3,700,582 3,971,458
54 Government National Mortgage Association 591,368 583,745
55 One- to four-family 569,461 559,549
56 Multifamily 21,908 24,196
57 Federal Home Loan Mortgage Corporation 948,419 1,053,261
58 One- to four-family 940,933 1,045,981
59 Multifamily 7,476 7,280
60 Federal National Mortgage Association 1,290,351 1,404,594
61 One- to four-family 1,238,125 1,349,442
62 Multifamily 52,226 55,152
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 870,454 929,858
69 One- to four-family (6) 591,200 638,300
70 Multifamily 53,537 55,234
71 Nonfarm, nonresidential 225,717 236,324
72 Farm 0 0
73 Individuals and others (7) 716,662 738,721
74 One- to four-family 506,669 525,893
75 Multifamily 78,252 78,639
76 Nonfarm, nonresidential 107,949 109,604
77 Farm 23,792 24,585
2002
Type of holder and property Q3 Q4
1 All holders 8,201,739 8,459,605
By type of property
2 One-to four-family residences 6,247,731 6,459,308
3 Multifamily residences 476,708 488,428
4 Nonfarm, nonresidential 1,353,685 1,387,110
5 Farm 123,614 124,759
By type of holder
6 Major financial institutions 2,981,790 3,089,824
7 Commercial banks (2) 1,962,198 2,058,426
8 One- to four-family 1,143,985 1,222,056
9 Multifamily 90,930 94,178
10 Nonfarm, nonresidential 689,481 704,167
11 Farm 37,802 38,025
12 Savings institutions (3) 773,652 791,378
13 One- to four-family 625,402 631,392
14 Multifamily 68,668 68,679
15 Nonfarm, nonresidential 79,022 80,730
16 Farm 560 577
17 Life insurance companies 245,939 250,019
18 One- to four-family 5,176 4,657
19 Multifamily 35,921 36,816
20 Nonfarm, nonresidential 190,698 195,140
21 Farm 14,144 13,506
22 Federal and related agencies 412,014 432,790
23 Government National Mortgage Association 8 5
24 One- to four-family 8 5
25 Multifamily 0 0
26 Farmers Home Administration (4) 72,030 72,377
27 One- to four-family 15,139 14,908
28 Multifamily 11,686 11,669
29 Nonfarm, nonresidential 41,439 42,101
30 Farm 3,766 3,700
31 Federal Housing Admin. and Dept. of
Veterans Affairs 2,973 3,854
32 One- to four-family 1,252 1,262
33 Multifamily 1,721 2,592
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 13 46
40 One- to four-family 2 7
41 Multifamily 2 9
42 Nonfarm, nonresidential 8 3
43 Farm 0 0
44 Federal National Mortgage Association 184,191 185,797
45 One- to four-family 167,006 172,226
46 Multifamily 17,185 13,571
47 Federal Land Bank 44,782 46,257
48 One- to four-family 2,635 2,722
49 Farm 42,147 43,535
50 Federal Home Loan Mortgage Corporation 60,934 63,887
51 One- to four-family 34,616 35,851
52 Multifamily 26,318 28,036
53 Mortgage pools or trusts (5) 4,052,418 4,161,020
54 Government National Mortgage Association 567,386 537,888
55 One- to four-family 542,208 512,098
56 Multifamily 25,178 25,790
57 Federal Home Loan Mortgage Corporation 1,058,176 1,082,062
58 One- to four-family 1,050,899 1,072,990
59 Multifamily 7,277 9,072
60 Federal National Mortgage Association 1,458,945 1,538,287
61 One- to four-family 1,402,929 1,478,610
62 Multifamily 56,016 59,677
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 967,911 1,002,783
69 One- to four-family (6) 669,300 691,601
70 Multifamily 56,582 59,034
71 Nonfarm, nonresidential 242,029 252,149
72 Farm 0 0
73 Individuals and others (7) 755,517 775,971
74 One- to four-family 540,187 558,434
75 Multifamily 79,127 79,228
76 Nonfarm, nonresidential 111,008 112,894
77 Farm 25,194 25,415
2003
Type of holder and property Q1 Q2 (p)
1 All holders 8,671,432 8,966,656
By type of property
2 One-to four-family residences 6,641,409 6,888,328
3 Multifamily residences 496,475 50,934
4 Nonfarm, nonresidential 1,407,138 1,439,720
5 Farm 126,410 129,268
By type of holder
6 Major financial institutions 3,166,701 3,279,551
7 Commercial banks (2) 2,099,352 2,192,983
8 One- to four-family 1,244,823 1,320,685
9 Multifamily 96,830 100,130
10 Nonfarm, nonresidential 718,996 732,508
11 Farm 38,704 39,660
12 Savings institutions (3) 815,873 833,625
13 One- to four-family 662,858 676,168
14 Multifamily 69,757 72,712
15 Nonfarm, nonresidential 82,669 84,150
16 Farm 589 595
17 Life insurance companies 251,476 252,943
18 One- to four-family 4,684 4,710
19 Multifamily 36,975 37,191
20 Nonfarm, nonresidential 196,232 197,377
21 Farm 13,585 13,665
22 Federal and related agencies 455,606 489,676
23 Government National Mortgage Association 6 7
24 One- to four-family 6 7
25 Multifamily 0 0
26 Farmers Home Administration (4) 69,988 69,930
27 One- to four-family 14,652 14,413
28 Multifamily 11,654 11,641
29 Nonfarm, nonresidential 40,093 40,352
30 Farm 3,590 3,525
31 Federal Housing Admin. and Dept. of
Veterans Affairs 3,824 4,006
32 One- to four-family 1,255 1,247
33 Multifamily 2,569 2,760
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 118 47
40 One- to four-family 19 8
41 Multifamily 23 9
42 Nonfarm, nonresidential 76 30
43 Farm 0 0
44 Federal National Mortgage Association 195,633 211,146
45 One- to four-family 180,829 195,079
46 Multifamily 14,804 16,067
47 Federal Land Bank 46,974 48,490
48 One- to four-family 2,764 2,853
49 Farm 44,210 45,637
50 Federal Home Loan Mortgage Corporation 64,388 65,672
51 One- to four-family 35,880 36,941
52 Multifamily 28,508 28,732
53 Mortgage pools or trusts (5) 4,265,292 4,386,908
54 Government National Mortgage Association 515,822 487,929
55 One- to four-family 489,063 460,430
56 Multifamily 26,759 27,499
57 Federal Home Loan Mortgage Corporation 1,073,016 1,051,141
58 One- to four-family 1,064,114 1,042,417
59 Multifamily 8,902 8,724
60 Federal National Mortgage Association 1,637,474 1,749,896
61 One- to four-family 1,576,495 1,687,263
62 Multifamily 60,979 62,633
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 1,038,980 1,097,942
69 One- to four-family (6) 725,100 767,800
70 Multifamily 59,169 61,448
71 Nonfarm, nonresidential 254,711 268,694
72 Farm 0 0
73 Individuals and others (7) 783,833 810,522
74 One- to four-family 564,262 587,991
75 Multifamily 79,478 79,735
76 Nonfarm, nonresidential 114,361 116,609
77 Farm 25,733 26,187
(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 a 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
Seasonally adjusted
1 Total 1,692,892 (r) 1,817,229 (r)
2 Revolving 667,395 701,285
3 Nonrevolving (2) 1,025,498 (r) 115,944 (r)
Not seasonally adjusted
4 Total 1,727,666 (r) 1,853,675 (r)
By major holder
5 Commercial banks 541,470 558,421
6 Finance companies 220,503 (r) 238,133 (r)
7 Credit unions 184,434 189,570
8 Savings institutions 64,557 69,070
9 Nonfinancial business 82,662 67,955
10 Pools of securitized assets (3) 530,013 (r) 611,006 (r)
By major type of credit (4)
11 Revolving 693,020 727,297
12 Commercial banks 218,063 224,878
13 Finance companies 37,627 31,538
14 Credit unions 22,226 22,265
15 Savings institutions 16,560 17,767
16 Nonfinancial business 42,430 29,790
17 Pools of securitized assets (3) 356,114 401,059
18 Nonrevolving 1,034,646 (r) 1,126,378 (r)
19 Commercial banks 323,407 333,543
20 Finance companies 182,876 (r) 206,595 (r)
21 Credit unions 162,208 167,305
22 Savings institutions 47,997 51,303
23 Nonfinancial business 40,232 38,165
24 Pools of securitized assets (3) 173,899 (r) 209,947 (r)
2003
Holder and type of credit 2002 Mar. (r)
Seasonally adjusted
1 Total 1,895,372 (r) 1,919,005
2 Revolving 712,002 720,586
3 Nonrevolving (2) 1,183,370 (r) 1,198,419
Not seasonally adjusted
4 Total 1,932,865 (r) 1,908,216
By major holder
5 Commercial banks 587,165 575,275
6 Finance companies 237,790 (r) 233,485
7 Credit unions 195,744 193,876
8 Savings institutions 68,494 70,116
9 Nonfinancial business 56,894 48,479
10 Pools of securitized assets (3) 657,202 (r) 662,832
By major type of credit (4)
11 Revolving 737,993 713,458
12 Commercial banks 230,990 212,452
13 Finance companies 38,948 36,334
14 Credit unions 22,228 20,722
15 Savings institutions 16,225 15,980
16 Nonfinancial business 19,221 13,666
17 Pools of securitized assets (3) 410,381 414,304
18 Nonrevolving 1,194,871 (r) 1,194,758
19 Commercial banks 356,175 362,823
20 Finance companies 198,842 (r) 197,151
21 Credit unions 173,516 173,154
22 Savings institutions 52,269 52,438
23 Nonfinancial business 37,673 34,813
24 Pools of securitized assets (3) 246,821 (r) 248,528
2003
Holder and type of credit Apr. (r) May (r)
Seasonally adjusted
1 Total 1,930,277 1,941,278
2 Revolving 723,018 727,411
3 Nonrevolving (2) 1,207,259 1,213,867
Not seasonally adjusted
4 Total 1,917,514 1,928,137
By major holder
5 Commercial banks 576,936 582,413
6 Finance companies 240,841 239,792
7 Credit unions 195,613 196,837
8 Savings institutions 70,116 71,871
9 Nonfinancial business 47,715 48,132
10 Pools of securitized assets (3) 662,231 667,057
By major type of credit (4)
11 Revolving 719,216 722,972
12 Commercial banks 213,069 217,685
13 Finance companies 37,609 34,498
14 Credit unions 20,883 20,964
15 Savings institutions 17,022 18,099
16 Nonfinancial business 13,112 13,293
17 Pools of securitized assets (3) 417,520 418,432
18 Nonrevolving 1,198,298 1,205,165
19 Commercial banks 363,866 364,728
20 Finance companies 203,232 205,294
21 Credit unions 174,730 175,873
22 Savings institutions 53,094 53,773
23 Nonfinancial business 34,603 34,839
24 Pools of securitized assets (3) 244,711 248,625
2003
Holder and type of credit June (r) July (r)
Seasonally adjusted
1 Total 1,941,740 1,947,825
2 Revolving 725,925 726,379
3 Nonrevolving (2) 1,215,815 1,221,446
Not seasonally adjusted
4 Total 1,931,626 1,935,577
By major holder
5 Commercial banks 584,294 582,490
6 Finance companies 244,251 249,731
7 Credit unions 198,598 201,386
8 Savings institutions 73,570 73,452
9 Nonfinancial business 47,615 47,181
10 Pools of securitized assets (3) 662,924 661,242
By major type of credit (4)
11 Revolving 722,771 720,543
12 Commercial banks 217,453 214,854
13 Finance companies 34,607 35,047
14 Credit unions 21,076 21,200
15 Savings institutions 19,141 18,919
16 Nonfinancial business 12,912 12,678
17 Pools of securitized assets (3) 417,581 417,844
18 Nonrevolving 1,208,855 1,215,034
19 Commercial banks 366,841 367,635
20 Finance companies 209,643 214,684
21 Credit unions 177,522 180,186
22 Savings institutions 54,429 54,533
23 Nonfinancial business 34,703 34,503
24 Pools of securitized assets (3) 245,343 243,398
2003
Holder and type of credit Aug.
Seasonally
adjusted
1 Total 1,957,239
2 Revolving 728,116
3 Nonrevolving (2) 1,229,123
Not
seasonally
adjusted
4 Total 1,956,014
By major holder
5 Commercial banks 588,262
6 Finance companies 259,083
7 Credit unions 204,367
8 Savings institutions 73,335
9 Nonfinancial business 47,962
10 Pools of securitized assets (3) 661,748
By major type of credit (4)
11 Revolving 725,838
12 Commercial banks 216,424
13 Finance companies 36,623
14 Credit unions 21,264
15 Savings institutions 18,697
16 Nonfinancial business 13,208
17 Pools of securitized assets (3) 419,622
18 Nonrevolving 1,230,176
19 Commercial banks 371,838
20 Finance companies 222,460
21 Credit unions 183,103
22 Savings institutions 54,638
23 Nonfinancial business 34,753
24 Pools of securitized assets (3) 242,127
(1.) The Board's series on amounts of credit covers most covers and
intermediate-term credit extended to individuals, excluding loans
secured by real estate. Data in this table also appear in the Board's
G.19 (421) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured or
unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT (1)
Percent per year except as noted
Item 2000 2001 2002
INTEREST RATES
Commercial banks (2)
1 48-month new car 9.34 8.50 7.62 (r)
2 24-month personal 13.90 13.22 12.54 (r)
Credit card plan
3 All accounts 15.71 14.89 13.42
4 Accounts assessed interest 14.91 14.44 13.09
Auto finance companies
5 New car 6.61 5.65 4.29
6 Used car 13.55 12.18 10.74
OTHER TERMS (3)
Maturity (months)
7 New car 54.9 55.1 56.8
8 Used car 57.0 57.5 57.5
Loan-to-value ratio
9 New car 92 91 94
10 Used car 99 100 100
Amount financed (dollars)
11 New car 20,923 22,822 24,747
12 Used car 14,058 14,416 14,532
2003
Item Feb. Mar. Apr.
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.11 n.a. n.a.
2 24-month personal 11.70 n.a. n.a.
Credit card plan
3 All accounts 13.20 n.a. n.a.
4 Accounts assessed interest 12.85 n.a. n.a.
Auto finance companies
5 New car 3.99 3.83 2.51
6 Used car 10.43 10.16 9.91
OTHER TERMS (3)
Maturity (months)
7 New car 59.2 59.5 60.1
8 Used car 57.7 57.8 57.7
Loan-to-value ratio
9 New car 97 96 97
10 Used car 99 99 99
Amount financed (dollars)
11 New car 24,864 25,152 27,540
12 Used car 14,231 14,253 14,475
2003
Item May June July Aug.
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.05 n.a. n.a. 6.77
2 24-month personal 12.19 n.a. n.a. 11.94
Credit card plan
3 All accounts 12.90 n.a. n.a. 12.49
4 Accounts assessed interest 12.92 n.a. n.a. 13.11
Auto finance companies
5 New car 2.40 2.93 3.28 3.56
6 Used car 9.82 9.81 9.77 9.57
OTHER TERMS (3)
Maturity (months)
7 New car 60.7 62.4 62.7 63.0
8 Used car 57.7 57.8 57.8 57.9
Loan-to-value ratio
9 New car 97 97 95 93
10 Used car 99 100 100 100
Amount financed (dollars)
11 New car 27,920 26,945 26,129 25,407
12 Used car 14,568 14,567 14,632 14,623
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this table
also appear in the Board's G.19 (421) monthly statistical release. For
ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS (1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector 1997 1998 1999
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sector 788.1 1,041.9 1,030.9
By sector and instrument
2 Federal government 23.1 -52.6 -71.2
3 Treasury securities 23.2 -54.6 -71.0
4 Budget agency securities and
mortgages -.1 2.0 -.2
5 Nonfederal 765.0 1,094.5 1,102.1
By instrument
6 Commercial paper 13.7 24.4 37.4
7 Municipal securities and loans 56.9 842.0 54.4
8 Corporate bonds 150.5 235.2 217.8
9 Bank loans n.e.c. 106.4 109.8 82.9
10 Other loans and advances 43.1 68.5 26.1
11 Mortgages 322.4 485.8 563.3
12 Home 258.3 384.6 424.4
13 Multifamily residential 7.2 23.3 35.2
14 Commercial 53.8 71.3 98.0
15 Farm 3.1 6.5 5.8
16 Consumer credit 72.0 86.7 120.2
By borrowing sector
17 Household 330.8 450.8 498.6
18 Nonfinancial business 392.7 576.1 565.0
19 Corporate 291.8 408.8 377.2
20 Nonfarm noncorporate 94.7 159.7 180.4
21 Farm 6.2 8.0 5.5
22 State and local government 41.5 67.7 385.0
23 Foreign net borrowing in United
States 71.8 31.2 13.0
24 Commercial paper 3.7 7.8 16.3
25 Bonds 61.4 22.8 1.9
26 Bank loans n.e.c. 8.5 6.6 .5
27 Other loans and advances -1.8 -6.0 -5.7
28 Total domestic plus foreign 859.9 1,073.1 1,043.9
Financial sectors
29 Total net borrowing by financial
sectors 662.2 1,085.6 1,073.5
By instrument
30 Federal government-related 212.9 470.9 592.0
31 Government-sponsored enterprise
securities 98.4 278.3 318.2
32 Mortgage pool securities 114.6 192.6 273.8
33 Loans from U.S. government .0 .0 .0
34 Private 449.3 614.7 481.6
35 Open market paper 166.7 161.0 176.2
36 Corporate bonds 218.9 310.2 207.5
37 Bank loans n.e.c. 13.3 28.5 -14.4
38 Other loans and advances 35.6 90.2 107.1
39 Mortgages 14.9 24.8 5.1
By borrowing sector
40 Commercial banking 46.1 72.9 67.2
41 Savings institutions 19.7 52.2 48.0
42 Credit unions .1 .6 2.2
43 Life insurance companies .2 .7 .7
44 Government-sponsored enterprises 98.4 278.3 318.2
45 Federally related mortgage pools 114.6 192.6 273.8
46 Issuers of asset-backed securities
(ABSs) 202.2 321.4 212.3
47 Finance companies 57.8 57.1 70.7
48 Mortgage companies -4.6 .0 .0
49 Real estate investment trusts
(REITs) 39.6 62.7 6.3
50 Brokers and dealers 8.1 7.2 -17.2
51 Funding corporations 79.9 40.0 91.5
52 Total net borrowing, all sectors 1,522.2 2,158.7 2,117.4
53 Open market paper 184.1 193.1 229.9
54 U.S. government securities 236.1 418.7 520.7
55 Municipal securities 56.9 84.2 54.4
56 Corporate and foreign bonds 430.8 568.2 427.3
57 Bank loans n.e.c. 128.2 145.0 69.0
58 Other loans and advances 76.9 152.7 127.5
59 Mortgages 337.3 510.6 568.5
60 Consumer credit 72.0 86.7 120.2
Funds raised through mutual
funds and corporate equities
61 Total net issues 218.7 166.1 191.5
62 Corporate equities -46.5 -113.4 .2
63 Nonfinancial corporations -77.4 -215.5 -110.4
64 Foreign shares purchased by U.S.
residents 57.6 101.4 114.3
65 Financial corporation -26.7 .8 -3.7
66 Mutual fund shares 265.1 279.5 191.2
2001
Transaction category or sector 2000 2001 Q4
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sector 853.5 1,114.4 1,163.5
By sector and instrument
2 Federal government -295.9 -5.6 43.4
3 Treasury securities -294.9 -5.0 44.2
4 Budget agency securities and
mortgages -1.0 -.5 -.7
5 Nonfederal 1,149.3 1,120.0 1,120.1
By instrument
6 Commercial paper 48.1 -88.3 45.5
7 Municipal securities and loans 23.6 122.9 174.6
8 Corporate bonds 161.3 340.5 325.0
9 Bank loans n.e.c. 101.8 -82.0 -165.5
10 Other loans and advances 84.5 1.8 -119.7
11 Mortgages 563.9 699.1 725.7
12 Home 418.2 532.7 533.1
13 Multifamily residential 32.9 45.6 54.3
14 Commercial 106.2 113.4 131.6
15 Farm 6.5 7.5 6.8
16 Consumer credit 166.2 126.0 134.5
By borrowing sector
17 Household 558.8 614.6 596.7
18 Nonfinancial business 575.1 399.6 381.2
19 Corporate 380.1 235.3 231.8
20 Nonfarm noncorporate 184.1 156.8 141.1
21 Farm 10.9 7.5 8.3
22 State and local government 15.5 105.8 142.1
23 Foreign net borrowing in United
States 57.0 -49.7 3.3
24 Commercial paper 31.7 -14.2 5.9
25 Bonds 15.2 -24.5 17.0
26 Bank loans n.e.c. 11.4 -7.3 -16.3
27 Other loans and advances -1.3 -3.7 -3.3
28 Total domestic plus foreign 910.5 1,064.6 1,166.9
Financial sectors
29 Total net borrowing by financial
sectors 821.8 934.0 964.4
By instrument
30 Federal government-related 433.5 629.3 591.8
31 Government-sponsored enterprise
securities 234.1 290.8 306.5
32 Mortgage pool securities 199.4 338.5 285.3
33 Loans from U.S. government .0 .0 .0
34 Private 388.3 304.7 372.6
35 Open market paper 127.7 -61.9 -13.6
36 Corporate bonds 212.3 317.3 361.1
37 Bank loans n.e.c. -.4 13.1 17.7
38 Other loans and advances 42.5 34.9 8.9
39 Mortgages 6.2 1.3 -1.6
By borrowing sector
40 Commercial banking 60.0 52.9 44.1
41 Savings institutions 27.3 7.4 -68.6
42 Credit unions .0 1.5 4.4
43 Life insurance companies -.7 .6 1.4
44 Government-sponsored enterprises 234.1 290.8 306.5
45 Federally related mortgage pools 199.4 338.5 285.3
46 Issuers of asset-backed securities
(ABSs) 201.9 292.3 416.8
47 Finance companies 81.9 1.3 -23.6
48 Mortgage companies .0 .0 .0
49 Real estate investment trusts
(REITs) 2.7 2.5 7.8
50 Brokers and dealers 15.6 1.4 -18.9
51 Funding corporations -.4 -55.2 9.1
52 Total net borrowing, all sectors 1,732.3 1,998.7 2,131.2
53 Open market paper 207.6 -164.4 37.8
54 U.S. government securities 137.6 623.8 635.2
55 Municipal securities 23.6 122.9 174.6
56 Corporate and foreign bonds 388.7 633.3 703.2
57 Bank loans n.e.c. 112.8 -76.2 -164.0
58 Other loans and advances 125.6 32.9 -114.2
59 Mortgages 570.1 700.4 724.1
60 Consumer credit 166.2 126.0 134.5
Funds raised through mutual
funds and corporate equities
61 Total net issues 238.4 305.0 406.4
62 Corporate equities 3.4 103.6 150.5
63 Nonfinancial corporations -118.2 -47.4 -4.2
64 Foreign shares purchased by U.S.
residents 106.7 109.1 83.9
65 Financial corporation 14.9 41.9 70.9
66 Mutual fund shares 235.0 201.4 255.9
2002
Transaction category or sector Q1 Q2 Q3
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sector 992.5 1,628.8 1,338.3
By sector and instrument
2 Federal government 39.8 526.2 265.7
3 Treasury securities 41.6 524.2 264.2
4 Budget agency securities and
mortgages -1.8 1.8 1.6
5 Nonfederal 952.6 1,102.8 1,072.5
By instrument
6 Commercial paper -144.4 -81.7 -17.4
7 Municipal securities and loans 76.8 196.1 154.2
8 Corporate bonds 253.6 191.4 -29.0
9 Bank loans n.e.c. -16.4 -192.1 -124.5
10 Other loans and advances -38.0 65.1 61.2
11 Mortgages 702.8 825.8 920.4
12 Home 602.4 658.6 780.4
13 Multifamily residential 28.5 41.7 31.7
14 Commercial 65.0 116.5 95.2
15 Farm 6.9 9.1 13.1
16 Consumer credit 118.1 98.2 107.6
By borrowing sector
17 Household 720.9 689.7 791.0
18 Nonfinancial business 162.9 229.7 140.2
19 Corporate 47.3 88.5 -2.9
20 Nonfarm noncorporate 110.3 132.7 128.8
21 Farm 5.3 8.5 14.2
22 State and local government 68.9 183.4 141.3
23 Foreign net borrowing in United
States 65.1 2.1 -44.0
24 Commercial paper 66.8 36.5 3.9
25 Bonds -14.5 -54.0 -35.3
26 Bank loans n.e.c. 13.9 22.0 -11.7
27 Other loans and advances -1.2 -2.4 -1.0
28 Total domestic plus foreign 1,057.5 1,630.9 1,294.2
Financial sectors
29 Total net borrowing by financial
sectors 866.1 867.2 858.5
By instrument
30 Federal government-related 691.1 487.8 420.8
31 Government-sponsored enterprise
securities 191.3 141.7 249.1
32 Mortgage pool securities 499.8 346.1 171.6
33 Loans from U.S. government .0 .0 .0
34 Private 175.0 379.4 437.7
35 Open market paper -178.3 -109.1 84.3
36 Corporate bonds 351.1 434.6 194.4
37 Bank loans n.e.c. -.6 31.2 81.9
38 Other loans and advances -3.8 15.8 71.9
39 Mortgages 6.6 7.0 5.3
By borrowing sector
40 Commercial banking 24.4 12.6 62.3
41 Savings institutions -33.1 -12.2 37.1
42 Credit unions 2.4 2.0 3.1
43 Life insurance companies 2.4 1.2 20.0
44 Government-sponsored enterprises 191.3 141.7 249.1
45 Federally related mortgage pools 499.8 346.1 171.6
46 Issuers of asset-backed securities
(ABSs) 258.3 230.6 195.8
47 Finance companies -28.9 83.9 110.9
48 Mortgage companies .0 .0 .0
49 Real estate investment trusts
(REITs) 7.4 25.3 27.7
50 Brokers and dealers -15.7 17.5 15.2
51 Funding corporations -42.2 18.5 -16.4
52 Total net borrowing, all sectors 1,923.6 2,498.1 2,152.7
53 Open market paper -255.9 -154.3 70.8
54 U.S. government securities 730.9 1,013.8 686.5
55 Municipal securities 76.8 196.1 154.2
56 Corporate and foreign bonds 590.2 572.0 130.0
57 Bank loans n.e.c. -3.0 -139.0 -54.4
58 Other loans and advances -43.0 78.6 132.2
59 Mortgages 709.4 832.8 925.7
60 Consumer credit 118.1 98.2 107.6
Funds raised through mutual
funds and corporate equities
61 Total net issues 437.0 276.5 -83.6
62 Corporate equities 50.1 176.5 -120.7
63 Nonfinancial corporations -11.0 15.5 -141.2
64 Foreign shares purchased by U.S.
residents -7.0 77.4 -51.3
65 Financial corporation 68.1 83.6 71.8
66 Mutual fund shares 386.9 100.0 37.1
2002 2003
Transaction category or sector Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sector 1,539.0 1,243.4 2,523.8
By sector and instrument
2 Federal government 198.5 79.9 888.2
3 Treasury securities 198.1 81.5 887.7
4 Budget agency securities and
mortgages .4 -1.6 .5
5 Nonfederal 1,340.5 1,163.5 1,635.6
By instrument
6 Commercial paper -13.2 -15.2 -87.3
7 Municipal securities and loans 216.1 90.3 189.4
8 Corporate bonds 114.4 178.6 309.6
9 Bank loans n.e.c. -15.3 -55.3 -63.9
10 Other loans and advances -.3 -14.5 80.7
11 Mortgages 1,045.9 886.7 1,141.0
12 Home 843.5 763.8 951.4
13 Multifamily residential 67.1 33.3 50.5
14 Commercial 130.8 83.2 127.8
15 Farm 4.6 6.4 11.3
16 Consumer credit -7.1 93.0 66.2
By borrowing sector
17 Household 885.6 837.2 1,000.2
18 Nonfinancial business 267.2 252.1 460.3
19 Corporate 107.6 134.2 311.5
20 Nonfarm noncorporate 156.3 113.4 146.0
21 Farm 3.4 4.6 2.8
22 State and local government 187.7 74.2 175.1
23 Foreign net borrowing in United
States 1.1 18.4 -48.4
24 Commercial paper 37.3 52.6 73.5
25 Bonds -30.1 -29.4 -93.5
26 Bank loans n.e.c. -2.9 -4.0 -31.4
27 Other loans and advances -3.2 -.8 30.0
28 Total domestic plus foreign 1,540.0 1,261.8 2,475.4
Financial sectors
29 Total net borrowing by financial
sectors 1,102.7 1,002.6 871.8
By instrument
30 Federal government-related 616.4 452.0 460.4
31 Government-sponsored enterprise
securities 321.5 179.7 209.8
32 Mortgage pool securities 294.9 272.3 250.6
33 Loans from U.S. government .0 .0 .0
34 Private 486.4 550.6 411.4
35 Open market paper -77.3 58.8 -93.6
36 Corporate bonds 684.4 432.5 497.7
37 Bank loans n.e.c. -107.9 -42.7 21.0
38 Other loans and advances -17.4 105.5 -17.0
39 Mortgages 4.7 -3.5 3.3
By borrowing sector
40 Commercial banking 100.3 76.1 85.1
41 Savings institutions -46.7 48.2 -30.3
42 Credit unions .4 2.8 1.6
43 Life insurance companies 2.5 4.4 1.5
44 Government-sponsored enterprises 321.5 179.7 209.8
45 Federally related mortgage pools 294.9 272.3 250.6
46 Issuers of asset-backed securities
(ABSs) 389.9 315.2 286.7
47 Finance companies 7.4 -.2 153.8
48 Mortgage companies .0 .0 .0
49 Real estate investment trusts
(REITs) 18.6 17.5 12.9
50 Brokers and dealers -24.0 38.4 -16.2
51 Funding corporations 37.8 48.0 -83.6
52 Total net borrowing, all sectors 2,642.7 2,264.0 3,347.2
53 Open market paper -53.3 96.3 -107.5
54 U.S. government securities 814.9 531.9 1,348.6
55 Municipal securities 216.1 90.3 189.4
56 Corporate and foreign bonds 768.6 581.7 713.7
57 Bank loans n.e.c. -126.1 -102.0 -74.3
58 Other loans and advances -20.9 90.1 66.7
59 Mortgages 1,050.6 883.2 1,144.3
60 Consumer credit -7.1 93.0 66.2
Funds raised through mutual
funds and corporate equities
61 Total net issues 291.0 288.7 400.4
62 Corporate equities 84.1 99.6 52.0
63 Nonfinancial corporations -30.9 -80.1 -57.6
64 Foreign shares purchased by U.S.
residents 51.6 132.5 56.0
65 Financial corporation 63.4 47.2 53.6
66 Mutual fund shares 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
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,522.2 2,158.7 2,117.4
2 Domestic nonfederal nonfinancial
sectors 15.5 250.9 257.1
3 Household 25.5 119.1 247.1
4 Nonfinancial corporate business -12.7 -16.0 -15.6
5 Nonfarm noncorporate business 2.6 13.3 -2.9
6 State and local governments .1 134.5 28.4
7 Federal government 3.2 11.7 6.5
8 Rest of the world 259.6 167.7 96.6
9 Financial sectors 1,243.9 1,728.4 1,757.3
10 Monetary authority 38.3 21.1 25.7
11 Commercial banking 324.3 305.6 312.2
12 U.S.-chartered banks 274.9 312.1 318.6
13 Foreign banking offices in
United States 40.2 -11.6 -17.0
14 Bank holding companies 5.4 -.9 6.2
15 Banks in U.S.-affiliated
areas 3.7 6.0 4.4
16 Savings institutions -4.7 36.2 67.7
17 Credit unions 16.8 18.9 27.5
18 Bank personal trusts and estates -25.0 -12.8 27.8
19 Life insurance companies 104.8 76.9 53.5
20 Other insurance companies 25.2 5.8 -3.0
21 Private pension funds 45.0 -26.1 14.1
22 State and local government
retirement funds 67.1 72.1 46.9
23 Money market mutual funds 87.5 244.0 182.0
24 Mutual funds 80.9 127.3 48.4
25 Closed-end funds -2.9 5.2 8.5
26 Government-sponsored enterprises 106.3 314.0 291.3
27 Federally related mortgage pools 114.6 192.6 273.8
28 Asset-backed securities issuers
(ABSs) 163.8 281.7 194.1
29 Finance companies 23.1 77.3 97.1
30 Mortgage companies -9.1 .0 .0
31 Real estate investment trusts
(REITs) 20.2 -5.1 -2.6
32 Brokers and dealers 14.9 6.8 -34.7
33 Funding corporations 50.4 -15.8 124.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,522.2 2,158.7 2,117.4
Other financial sources
35 Official foreign exchange .7 6.6 -8.7
36 Special drawing rights certificates -.5 .0 -3.0
37 Treasury currency .5 .6 1.0
38 Foreign deposits 107.7 6.5 61.1
39 Net interbank transactions -19.7 -31.8 15.0
40 Checkable deposits and currency 41.2 47.3 151.2
41 Small time and savings deposits 97.1 152.4 45.1
42 Large time deposits 122.5 91.8 131.1
43 Money market fund shares 155.9 287.2 249.1
44 Security repurchase agreements 120.9 91.3 169.8
45 Corporate equities -46.5 -113.4 .2
46 Mutual fund shares 265.1 279.5 191.2
47 Trade payable 139.8 106.4 268.5
48 Security credit 111.0 103.2 104.4
49 Life insurance reserves 59.3 48.0 50.8
50 Pension fund reserves 201.4 217.4 181.8
51 Tax payable 22.3 19.6 30.7
52 Investment in bank personal trusts -53.0 -46.1 -8.1
53 Noncorporate proprietors' equity -40.7 -57.8 -62.4
54 Miscellaneous 496.9 953.3 1,125.5
55 Total financial sources 3,304.2 4,320.6 4,811.9
Liabilities not identified as
assets (-)
56 Treasury currency -.2 -.1 -.7
57 Foreign deposit 106.2 -8.5 42.8
58 Net interbank liabilities -19.9 3.8 .1
59 Security repurchase agreements 63.2 57.7 35.7
60 Taxes payable 28.0 19.7 11.7
61 Miscellaneous -285.5 -208.5 -279.7
Floats not included in assets (-)
62 Federal government checkable
deposits -2.7 2.6 -7.4
63 Other checkable deposits -3.9 -3.1 -.8
64 Trade credit -25.5 -43.3 6.8
65 Total identified to sectors as
assets 3,397.9 4,452.4 4,955.0
2001
Transaction category or sector 2000 2001 Q4
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,732.3 1,998.7 2,131.2
2 Domestic nonfederal nonfinancial
sectors -13.7 27.1 172.6
3 Household -33.6 -.7 145.3
4 Nonfinancial corporate business 19.4 -12.4 -17.1
5 Nonfarm noncorporate business 1.3 20.0 2.0
6 State and local governments -.8 38.1 42.4
7 Federal government 11.6 6.0 -1.5
8 Rest of the world 129.5 234.6 274.7
9 Financial sectors 1,604.8 1,731.0 1,685.4
10 Monetary authority 33.7 39.9 85.1
11 Commercial banking 357.9 205.2 314.6
12 U.S.-chartered banks 339.5 191.6 275.0
13 Foreign banking offices in
United States 23.9 -.6 -7.8
14 Bank holding companies -12.2 4.2 13.6
15 Banks in U.S.-affiliated
areas 6.7 10.0 33.9
16 Savings institutions 56.2 42.8 73.1
17 Credit unions 28.0 41.5 60.5
18 Bank personal trusts and estates .8 -28.1 -28.1
19 Life insurance companies 57.9 130.9 81.3
20 Other insurance companies -8.7 9.0 28.5
21 Private pension funds 31.3 6.7 -20.9
22 State and local government
retirement funds 54.6 -17.7 -2.7
23 Money market mutual funds 143.1 246.2 49.1
24 Mutual funds 21.0 126.0 139.3
25 Closed-end funds -6.3 6.9 16.3
26 Government-sponsored enterprises 256.4 309.0 335.3
27 Federally related mortgage pools 199.4 338.5 285.3
28 Asset-backed securities issuers
(ABSs) 172.1 266.2 394.1
29 Finance companies 108.6 -4.8 -99.6
30 Mortgage companies .0 .0 .0
31 Real estate investment trusts
(REITs) -7.1 6.7 14.0
32 Brokers and dealers 68.9 92.4 -110.5
33 Funding corporations 35.0 -95.8 60.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,732.3 1,998.7 2,131.2
Other financial sources
35 Official foreign exchange -.4 4.3 .2
36 Special drawing rights certificates -4.0 .0 .0
37 Treasury currency 2.4 13.0 .0
38 Foreign deposits 134.2 30.7 9.6
39 Net interbank transactions 15.1 -28.0 24.5
40 Checkable deposits and currency -71.4 204.3 278.1
41 Small time and savings deposits 188.8 267.2 329.7
42 Large time deposits 116.2 68.6 77.8
43 Money market fund shares 233.3 428.6 379.8
44 Security repurchase agreements 113.2 22.3 -138.3
45 Corporate equities 3.4 103.6 150.5
46 Mutual fund shares 235.0 201.4 255.9
47 Trade payable 419.5 -73.4 -126.1
48 Security credit 146.1 3.1 -383.7
49 Life insurance reserves 50.2 77.2 119.6
50 Pension fund reserves 209.0 210.8 158.0
51 Tax payable 32.8 17.4 -55.2
52 Investment in bank personal trusts 56.6 -59.9 -57.7
53 Noncorporate proprietors' equity -11.5 -18.6 8.4
54 Miscellaneous 1,371.8 683.1 200.5
55 Total financial sources 4,972.6 4,142.8 3,362.7
Liabilities not identified as
assets (-)
56 Treasury currency -1.2 -.1 .0
57 Foreign deposit 78.5 11.1 -46.9
58 Net interbank liabilities 20.4 17.2 22.6
59 Security repurchase agreements 122.6 -53.9 -166.2
60 Taxes payable 26.2 22.0 34.6
61 Miscellaneous -527.2 -341.2 -278.7
Floats not included in assets (-)
62 Federal government checkable
deposits 9.0 5.7 -91.8
63 Other checkable deposits 1.7 4.5 5.7
64 Trade credit 22.4 -6.5 73.6
65 Total identified to sectors as
assets 5,192.2 4,414.1 3,749.3
2002
Transaction category or sector Q1 Q2 Q3
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,923.6 2,498.1 2,152.7
2 Domestic nonfederal nonfinancial
sectors 100.4 292.0 -116.4
3 Household 48.9 257.6 -170.5
4 Nonfinancial corporate business 69.3 -11.4 33.5
5 Nonfarm noncorporate business 3.3 3.3 2.8
6 State and local governments -21.1 42.5 17.8
7 Federal government 9.3 -3.7 31.1
8 Rest of the world 248.0 458.0 393.9
9 Financial sectors 1,565.9 1,751.8 1,844.1
10 Monetary authority 81.6 43.4 67.3
11 Commercial banking 188.9 384.3 624.0
12 U.S.-chartered banks 168.2 343.8 599.9
13 Foreign banking offices in
United States 2.1 33.7 21.8
14 Bank holding companies 12.0 1.9 -1.6
15 Banks in U.S.-affiliated
areas 6.6 4.9 40.0
16 Savings institutions 12.3 -23.5 80.3
17 Credit unions 58.3 61.8 6.1
18 Bank personal trusts and estates 1.0 .9 .8
19 Life insurance companies 278.1 206.6 279.0
20 Other insurance companies 36.7 35.4 21.7
21 Private pension funds 47.1 22.1 40.2
22 State and local government
retirement funds 70.5 -54.5 -10.4
23 Money market mutual funds -239.1 -875.0 -75.7
24 Mutual funds 243.3 41.9 162.7
25 Closed-end funds 24.4 -2.6 -1.7
26 Government-sponsored enterprises 236.7 130.1 203.5
27 Federally related mortgage pools 499.8 346.1 171.6
28 Asset-backed securities issuers
(ABSs) 234.1 208.4 173.2
29 Finance companies -26.5 42.2 83.9
30 Mortgage companies .0 .0 .0
31 Real estate investment trusts
(REITs) 26.3 31.8 27.7
32 Brokers and dealers -219.5 402.8 -208.6
33 Funding corporations 6.1 -45.0 165.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,923.6 2,498.1 2,152.7
Other financial sources
35 Official foreign exchange -3.0 12.9 24.6
36 Special drawing rights certificates .0 .0 .0
37 Treasury currency .9 .6 2.4
38 Foreign deposits -43.8 66.1 53.0
39 Net interbank transactions 3.3 -166.5 62.4
40 Checkable deposits and currency -200.5 210.2 208.0
41 Small time and savings deposits 288.3 215.6 323.4
42 Large time deposits 270.0 34.8 36.8
43 Money market fund shares -312.5 104.2 -196.6
44 Security repurchase agreements 119.4 362.4 -91.1
45 Corporate equities 50.1 176.5 -120.7
46 Mutual fund shares 386.9 100.0 37.1
47 Trade payable 194.8 48.9 126.2
48 Security credit -190.7 -131.9 -69.6
49 Life insurance reserves 54.0 71.4 60.8
50 Pension fund reserves 148.8 191.7 287.2
51 Tax payable 7.2 40.5 53.8
52 Investment in bank personal trusts -3.7 -2.4 -2.1
53 Noncorporate proprietors' equity 1.5 -32.9 -83.9
54 Miscellaneous 120.3 641.9 876.1
55 Total financial sources 2,815.1 4,442.2 3,740.4
Liabilities not identified as
assets (-)
56 Treasury currency -1.5 -9.0 1.1
57 Foreign deposit -87.1 99.1 23.9
58 Net interbank liabilities 39.8 -13.0 16.7
59 Security repurchase agreements 156.9 227.6 -291.8
60 Taxes payable 17.9 -52.2 21.5
61 Miscellaneous -336.8 15.2 98.9
Floats not included in assets (-)
62 Federal government checkable
deposits 15.1 77.1 -40.3
63 Other checkable deposits 6.1 7.1 7.6
64 Trade credit -26.6 -53.6 -14.8
65 Total identified to sectors as
assets 2,987.9 4,097.1 3,865.4
2002 2003
Transaction category or sector Q4 Q1 Q2
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,642.7 2,264.4 3,347.2
2 Domestic nonfederal nonfinancial
sectors 132.6 -353.9 20.1
3 Household 127.2 -326.4 -67.5
4 Nonfinancial corporate business -42.4 54.9 34.4
5 Nonfarm noncorporate business 4.0 -.2 4.1
6 State and local governments 43.8 -82.1 49.1
7 Federal government 3.1 -18.3 -1.4
8 Rest of the world 351.0 359.5 1,055.8
9 Financial sectors 2,156.0 2,277.1 2,272.7
10 Monetary authority 118.7 32.3 25.0
11 Commercial banking 420.4 349.0 616.3
12 U.S.-chartered banks 463.3 305.6 547.7
13 Foreign banking offices in
United States -32.8 23.3 12.2
14 Bank holding companies .2 20.8 39.7
15 Banks in U.S.-affiliated
areas -10.2 -.7 16.8
16 Savings institutions 72.5 189.4 88.0
17 Credit unions 44.4 43.5 71.2
18 Bank personal trusts and estates .8 -19.3 -17.6
19 Life insurance companies 168.2 276.7 216.0
20 Other insurance companies 65.6 57.7 42.9
21 Private pension funds .2 7.3 39.5
22 State and local government
retirement funds 60.7 .1 62.7
23 Money market mutual funds 301.2 -187.0 214.0
24 Mutual funds 118.4 220.2 213.1
25 Closed-end funds 17.0 31.1 24.1
26 Government-sponsored enterprises 277.8 302.7 112.6
27 Federally related mortgage pools 294.9 272.3 250.6
28 Asset-backed securities issuers
(ABSs) 368.1 291.4 266.1
29 Finance companies -14.8 -2.4 56.6
30 Mortgage companies .0 .0 .0
31 Real estate investment trusts
(REITs) 6.7 -8.6 31.0
32 Brokers and dealers 138.8 19.6 1.3
33 Funding corporations -324.3 374.5 -43.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,642.7 2,264.4 3,347.2
Other financial sources
35 Official foreign exchange 4.9 4.9 .6
36 Special drawing rights certificates .0 .0 .0
37 Treasury currency .0 .6 1.6
38 Foreign deposits 20.3 -73.7 78.6
39 Net interbank transactions 170.0 -4.1 -123.5
40 Checkable deposits and currency -43.7 271.3 94.2
41 Small time and savings deposits 257.2 261.6 437.6
42 Large time deposits -140.2 191.6 43.4
43 Money market fund shares 337.6 -441.4 186.0
44 Security repurchase agreements 29.2 -50.4 564.3
45 Corporate equities 84.1 99.6 52.0
46 Mutual fund shares 206.9 189.1 348.4
47 Trade payable 157.1 141.4 202.4
48 Security credit 44.1 229.8 641.8
49 Life insurance reserves 54.2 94.0 70.0
50 Pension fund reserves 232.7 269.5 245.5
51 Tax payable 7.2 55.2 45.1
52 Investment in bank personal trusts -1.3 -79.9 -43.7
53 Noncorporate proprietors' equity -40.9 -22.1 8.0
54 Miscellaneous 160.6 789.2 908.8
55 Total financial sources 4,182.8 4,190.5 7,108.5
Liabilities not identified as
assets (-)
56 Treasury currency -1.1 -2.0 .5
57 Foreign deposit 36.7 -70.4 112.7
58 Net interbank liabilities -15.1 6.1 -42.2
59 Security repurchase agreements -62.0 112.2 292.4
60 Taxes payable -55.6 -20.2 -12.4
61 Miscellaneous 75.3 -329.2 129.1
Floats not included in assets (-)
62 Federal government checkable
deposits -51.7 153.1 -104.9
63 Other checkable deposits 8.4 9.0 9.7
64 Trade credit 18.5 -3.8 24.3
65 Total identified to sectors as
assets 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 or sector 1998 1999 2000
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial
sectors 16,240.8 17,316.5 18,171.0
By sector and instrument
2 Federal government 3,752.2 3,681.0 3,385.1
3 Treasury securities 3,723.7 3,652.7 3,357.8
4 Budget agency securities and
mortgages 28.5 28.3 27.3
5 Nonfederal 12,488.7 13,625.5 14,785.9
By instrument
6 Commercial paper 193.0 230.3 278.4
7 Municipal securities and loans 1,402.9 1,457.2 1,480.9
8 Corporate bonds 1,846.0 2,063.9 2,225.1
9 Bank loans n.e.c. 1,150.2 1,233.2 1,335.0
10 Other loans and advances 826.1 852.4 936.9
11 Mortgages 5,640.4 6,238.1 6,802.0
12 Home 4,362.9 4,787.2 5,205.4
13 Multifamily residential 307.9 434.4 376.4
14 Commercial 873.0 1,005.1 1,111.4
15 Farm 96.6 102.3 108.9
16 Consumer credit 1,430.1 1,550.4 1,727.7
By borrowing sector
17 Households 6,012.0 6,511.0 7,080.8
18 Nonfinancial business 5,338.3 5,937.7 6,512.8
19 Corporate 3,790.7 4,202.2 4,582.4
20 Nonfarm noncorporate 1,383.7 1,566.1 1,750.2
21 Farm 163.9 169.1 180.2
22 State and local government 1,138.3 1,176.9 1,192.3
23 Foreign credit market debt held
in United States 639.3 652.5 709.5
24 Commercial paper 72.9 89.2 120.9
25 Bonds 450.6 452.5 467.7
26 Bank loans n.e.c. 58.7 59.2 70.5
27 Other loans and advances 57.1 51.6 50.3
28 Total credit market debt owed by
nonfinancial sectors,
domestic and foreign 16,880.1 17,958.9 18,880.5
Financial sectors
29 Total credit market debt owed by
financial sectors 6,543.6 7,617.2 8,439.0
By instrument
30 Federal government-related 3,292.0 3,884.0 4,317.4
31 Government-sponsored 1,273.6 1,591.7 1,825.8
enterprise securities
32 Mortgage pool securities 2,018.4 2,292.2 2,491.6
33 Loans from U.S. government .0 .0 .0
34 Private 3,251.6 3,733.2 4,121.5
35 Open market paper 906.7 1,082.9 1,210.7
36 Corporate bonds 1,878.7 2,086.3 2,298.5
37 Bank loans n.e.c. 105.8 91.5 91.1
38 Other loans and advances 288.7 395.8 438.3
39 Mortgages 71.6 76.7 82.9
By borrowing sector
40 Commercial banks 188.6 230.0 266.7
41 Bank holding companies 193.5 219.3 242.5
42 Savings institutions 212.4 260.4 287.7
43 Credit union 1.1 3.4 3.4
44 Life insurance companies 2.5 3.2 2.5
45 Government-sponsored enterprises 1,273.6 1,591.7 1,825.8
46 Federally related mortgage pools 2,018.4 2,292.2 2,491.6
47 Issuers of asset-backed
securities (ABSs) 1,398.0 1,610.3 1,812.3
48 Broker and dealers 42.5 25.3 40.9
49 Finance companies 625.5 696.1 778.0
50 Mortgage companies 16.0 16.0 16.0
51 Real estate investment trusts
(REITs) 158.8 165.1 167.8
52 Funding corporations 412.6 504.0 503.7
All sectors
53 Total credit market debt,
domestic and foreign 23,423.8 25,576.1 27,319.4
54 Open market paper 1,172.6 1,402.4 1,610.0
55 U.S. government securities 7,044.2 7,564.9 7,702.5
56 Municipal securities 1,402.9 1,457.2 1,480.9
57 Corporate and foreign bonds 4,175.4 4,602.6 4,991.4
58 Bank loan n.e.c. 1,314.8 1,383.8 1,496.6
59 Other loans and advances 1,171.9 1,299.9 1,425.5
60 Mortgages 5,712.0 6,314.8 6,884.9
61 Consumer credit 1,430.1 1,550.4 1,727.7
2001 2002
Transaction category or sector 2001 Q4 Q1
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial
sectors 19,286.0 19,286.0 19,530.4
By sector and instrument
2 Federal government 3,379.5 3,379.5 3,430.3
3 Treasury securities 3,352.7 3,352.7 3,404.0
4 Budget agency securities and
mortgages 26.8 26.8 26.3
5 Nonfederal 15,906.5 15,906.5 16,100.1
By instrument
6 Commercial paper 190.1 190.1 167.5
7 Municipal securities and loans 1,603.7 1,603.7 1,627.5
8 Corporate bonds 2,565.6 2,565.6 2,629.1
9 Bank loans n.e.c. 1,253.5 1,253.5 1,240.1
10 Other loans and advances 938.7 938.7 934.7
11 Mortgages 7,501.1 7,501.1 7,665.4
12 Home 5,738.1 5,738.1 5,877.2
13 Multifamily residential 421.9 421.9 429.1
14 Commercial 1,224.7 1,224.7 1,241.0
15 Farm 116.3 116.3 118.1
16 Consumer credit 1,853.7 1,853.7 1,835.8
By borrowing sector
17 Households 7,695.4 7,695.4 7,812.5
18 Nonfinancial business 6,913.0 6,913.0 6,967.6
19 Corporate 4,818.3 4,818.3 4,845.7
20 Nonfarm noncorporate 1,907.0 1,907.0 1,934.7
21 Farm 187.7 187.7 187.1
22 State and local government 1,298.1 1,298.1 1,320.0
23 Foreign credit market debt held
in United States 659.7 659.7 675.9
24 Commercial paper 106.7 106.7 123.6
25 Bonds 443.2 443.2 439.6
26 Bank loans n.e.c. 63.2 63.2 66.7
27 Other loans and advances 46.6 46.6 46.0
28 Total credit market debt owed by
nonfinancial sectors,
domestic and foreign 19,945.7 19,945.7 20,206.3
Financial sectors
29 Total credit market debt owed by
financial sectors 9,370.3 9,370.3 9,565.8
By instrument
30 Federal government-related 4,944.1 4,944.1 5,116.9
31 Government-sponsored 2,114.0 2,114.0 2,161.8
enterprise securities
32 Mortgage pool securities 2,830.1 2,830.1 2,955.1
33 Loans from U.S. government .0 .0 .0
34 Private 4,426.2 4,426.2 4,448.9
35 Open market paper 1,148.8 1,148.8 1,090.9
36 Corporate bonds 2,615.8 2,615.8 2,707.4
37 Bank loans n.e.c. 104.2 104.2 102.3
38 Other loans and advances 473.2 473.2 462.4
39 Mortgages 84.2 84.2 85.9
By borrowing sector
40 Commercial banks 296.0 296.0 295.8
41 Bank holding companies 266.1 266.1 269.0
42 Savings institutions 295.1 295.1 280.5
43 Credit union 4.9 4.9 5.5
44 Life insurance companies 3.1 3.1 3.7
45 Government-sponsored enterprises 2,114.0 2,114.0 2,161.8
46 Federally related mortgage pools 2,830.1 2,830.1 2,955.1
47 Issuers of asset-backed
securities (ABSs) 2,104.6 2,114.6 2,161.4
48 Broker and dealers 42.3 42.3 38.4
49 Finance companies 779.2 779.2 763.8
50 Mortgage companies 16.0 16.0 16.0
51 Real estate investment trusts
(REITs) 170.2 170.2 172.1
52 Funding corporations 448.4 448.4 442.6
All sectors
53 Total credit market debt,
domestic and foreign 29,316.0 29,316.0 29,772.1
54 Open market paper 1,445.6 1,445.6 1,382.0
55 U.S. government securities 8,323.6 8,323.6 8,547.2
56 Municipal securities 1,603.7 1,603.7 1,627.5
57 Corporate and foreign bonds 5,624.7 5,624.7 5,776.1
58 Bank loan n.e.c. 1,421.0 1,421.0 1,409.1
59 Other loans and advances 1,458.4 1,458.4 1,443.1
60 Mortgages 7,585.3 7,585.3 7,751.3
61 Consumer credit 1,853.7 1,853.7 1,835.8
2002
Transaction category or sector Q2 Q3 Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial
sectors 19,842.6 20,182.9 20,655.2
By sector and instrument
2 Federal government 3,451.4 3,540.8 3,637.0
3 Treasury securities 3,424.6 3,513.6 3,609.8
4 Budget agency securities and
mortgages 26.8 27.2 27.3
5 Nonfederal 16,391.2 16,642.1 17,018.1
By instrument
6 Commercial paper 148.4 142.2 126.0
7 Municipal securities and loans 1,682.0 1,707.9 1,764.5
8 Corporate bonds 2,676.9 2,669.6 2,698.2
9 Bank loans n.e.c. 1,195.0 1,162.2 1,166.5
10 Other loans and advances 948.1 955.0 960.7
11 Mortgages 7,879.6 8,112.8 8,369.4
12 Home 6,049.6 6,247.9 6,459.3
13 Multifamily residential 439.5 447.4 458.7
14 Commercial 1,270.1 1,293.9 1,326.6
15 Farm 120.4 123.6 124.8
16 Consumer credit 1,861.1 1,892.5 1,932.9
By borrowing sector
17 Households 7,996.6 8,200.1 8,467.2
18 Nonfinancial business 7,024.0 7,404.8 7,107.5
19 Corporate 4,864.2 4,854.1 4,872.9
20 Nonfarm noncorporate 1,968.0 1,999.0 2,039.0
21 Farm 191.8 194.9 195.6
22 State and local government 1,370.6 1,394.0 1,443.4
23 Foreign credit market debt held
in United States 674.1 665.7 665.8
24 Commercial paper 130.2 134.0 142.8
25 Bonds 426.1 417.3 409.8
26 Bank loans n.e.c. 72.2 69.3 68.6
27 Other loans and advances 45.5 45.1 44.6
28 Total credit market debt owed by
nonfinancial sectors,
domestic and foreign 20,516.6 20,848.6 21,320.9
Financial sectors
29 Total credit market debt owed by
financial sectors 9,778.0 9,982.6 10,293.9
By instrument
30 Federal government-related 5,238.8 5,344.0 5,498.1
31 Government-sponsored 2,197.2 2,259.5 2,339.9
enterprise securities
32 Mortgage pool securities 3,041.6 3,084.5 3,158.2
33 Loans from U.S. government .0 .0 .0
34 Private 4,539.2 4,638.6 4,795.8
35 Open market paper 1,046.9 1,049.5 1,078.7
36 Corporate bonds 2,823.6 2,878.9 3,031.9
37 Bank loans n.e.c. 110.6 130.3 105.3
38 Other loans and advances 470.6 491.0 489.8
39 Mortgages 87.6 88.9 90.1
By borrowing sector
40 Commercial banks 310.2 318.7 325.6
41 Bank holding companies 264.2 271.8 286.4
42 Savings institutions 275.3 286.3 281.4
43 Credit union 6.0 6.8 6.0
44 Life insurance companies 4.0 4.5 5.1
45 Government-sponsored enterprises 2,197.2 2,259.5 2,339.9
46 Federally related mortgage pools 3,041.6 3,084.5 3,158.2
47 Issuers of asset-backed
securities (ABSs) 2,220.6 2,272.8 2,373.2
48 Broker and dealers 42.8 46.6 40.6
49 Finance companies 788.9 808.0 822.6
50 Mortgage companies 16.0 16.0 16.0
51 Real estate investment trusts
(REITs) 178.4 185.3 190.0
52 Funding corporations 432.8 421.5 447.9
All sectors
53 Total credit market debt,
domestic and foreign 30,294.7 30,831.2 31,614.9
54 Open market paper 1,325.5 1,325.7 1,347.5
55 U.S. government securities 8,690.2 8,884.8 9,135.1
56 Municipal securities 1,682.0 1,707.9 1,764.5
57 Corporate and foreign bonds 5,926.6 5,965.8 6,139.9
58 Bank loan n.e.c. 1,377.8 1,361.7 1,340.4
59 Other loans and advances 1,464.3 1,491.1 1,495.1
60 Mortgages 7,967.2 8,201.7 8,459.5
61 Consumer credit 1,861.1 1,892.5 1,932.9
2003
Transaction category or sector Q1 Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial
sectors 20,953.2 21,486.6
By sector and instrument
2 Federal government 3,700.6 3,806.9
3 Treasury securities 3,673.7 3,779.9
4 Budget agency securities and
mortgages 26.9 27.0
5 Nonfederal 17,252.7 17,679.7
By instrument
6 Commercial paper 127.1 107.5
7 Municipal securities and loans 1,791.8 1,844.9
8 Corporate bonds 2,742.9 2,820.3
9 Bank loans n.e.c. 1,141.8 1,129.5
10 Other loans and advances 962.3 979.8
11 Mortgages 8,578.9 8,872.6
12 Home 6,638.1 6,884.2
13 Multifamily residential 467.1 479.7
14 Commercial 1,347.4 1,379.4
15 Farm 126.4 129.3
16 Consumer credit 1,907.8 1,925.1
By borrowing sector
17 Households 8,610.8 8,874.2
18 Nonfinancial business 7,175.0 7,289.8
19 Corporate 4,912.5 4,987.7
20 Nonfarm noncorporate 2,067.5 2,104.1
21 Farm 194.9 198.1
22 State and local government 1,466.9 1,515.7
23 Foreign credit market debt held
in United States 669.8 656.9
24 Commercial paper 155.7 173.1
25 Bonds 402.4 379.0
26 Bank loans n.e.c. 67.6 59.7
27 Other loans and advances 44.1 45.0
28 Total credit market debt owed by
nonfinancial sectors,
domestic and foreign 21,623.0 22,143.5
Financial sectors
29 Total credit market debt owed by
financial sectors 10,520.9 10,734.1
By instrument
30 Federal government-related 5,611.1 5,726.2
31 Government-sponsored 2,384.8 2,437.2
enterprise securities
32 Mortgage pool securities 3,226.3 3,289.0
33 Loans from U.S. government .0 .0
34 Private 4,909.8 5,007.8
35 Open market paper 1,076.5 1,036.5
36 Corporate bonds 3,144.7 3,276.0
37 Bank loans n.e.c. 92.9 98.7
38 Other loans and advances 506.5 506.5
39 Mortgages 89.2 90.1
By borrowing sector
40 Commercial banks 324.8 336.7
41 Bank holding companies 302.8 319.0
42 Savings institutions 287.2 277.1
43 Credit union 7.6 8.0
44 Life insurance companies 6.3 6.6
45 Government-sponsored enterprises 2,384.8 2,437.2
46 Federally related mortgage pools 3,226.3 3,289.0
47 Issuers of asset-backed
securities (ABSs) 2,444.1 2,517.5
48 Broker and dealers 50.2 46.2
49 Finance companies 813.6 856.3
50 Mortgage companies 16.0 16.0
51 Real estate investment trusts
(REITs) 194.4 197.6
52 Funding corporations 462.7 426.8
All sectors
53 Total credit market debt,
domestic and foreign 32,143.9 32,877.5
54 Open market paper 1,359.2 1,317.1
55 U.S. government securities 9,311.7 9,533.1
56 Municipal securities 1,791.8 1,844.9
57 Corporate and foreign bonds 6,290.0 6,475.5
58 Bank loan n.e.c. 1,302.3 1,287.9
59 Other loans and advances 1,512.9 1,531.3
60 Mortgages 8,668.2 8,962.6
61 Consumer credit 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 front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction category or sector 1998 1999
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 23,423.8 25,576.1
2 Domestic nonfederal nonfinancial sectors 3,304.8 3,622.8
3 Household 2,256.3 2,564.4
4 Nonfinancial corporate business 241.5 226.0
5 Nonfarm noncorporate business 67.5 64.6
6 State and local governments 739.4 767.8
7 Federal government 221.5 261.1
8 Rest of the world 2,273.5 2,306.8
9 Financial Sectors 17,624.1 19,385.4
10 Monetary authority 452.5 478.1
11 Commercial banking 4,336.1 4,648.3
12 U.S.-chartered banks 3,761.4 4,080.0
13 Foreign banking offices in United
States 504.5 487.4
14 Bank holding companies 26.5 32.7
15 Banks in U.S.-affiliated areas 43.8 48.3
16 Savings institutions 964.7 1,032.4
17 Credit unions 324.2 351.7
18 Bank personal trusts and estates 194.1 222.0
19 Life insurance companies 1,828.0 1,886.0
20 Other insurance companies 521.1 518.2
21 Private pension funds 621.1 635.2
22 State and local government retirement
funds 704.6 751.4
23 Money market mutual funds 965.9 1,147.8
24 Mutual funds 1,028.4 1,076.8
25 Closed-end funds 98.4 106.9
26 Government-sponsored enterprises 1,252.3 1,543.5
27 Federally related mortgage pools 2,018.4 2,292.2
28 Asset-backed securities (ABSs) issuers 1,219.4 1,413.6
29 Finance companies 645.5 742.6
30 Mortgage companies 32.1 32.1
31 Real estate investment trusts (REITs) 45.5 42.9
32 Brokers and dealers 189.4 154.7
33 Funding corporations 152.3 276.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 23,423.8 25,576.1
Other liabilities
35 Official foreign exchange 60.1 50.1
36 Special drawing rights certificates 9.2 6.2
37 Treasury currency 19.9 20.9
38 Foreign deposits 624.9 686.1
39 Net interbank liabilities 189.4 202.4
40 Checkable deposits and currency 1,333.3 1,484.5
41 Small time and savings deposits 2,626.5 2,671.6
42 Large time deposits 805.3 936.4
43 Money market fund shares 1,329.7 1,578.8
44 Security repurchase agreements 913.8 1,083.6
45 Mutual fund shares 3,613.1 4,538.5
46 Security credit 572.2 676.6
47 Life insurance reserves 718.3 783.9
48 Pension fund reserves 8,210.5 9,067.6
49 Trade payables 2,073.8 2,342.3
50 Taxes payable 170.7 201.4
51 Investment in bank personal trusts 1,001.0 1,130.4
52 Miscellaneous 8,298.5 9,294.9
53 Total liabilities 55,993.9 62,332.2
Financial assets not included in liabilities
(+)
54 Gold and special drawing rights 21.6 21.4
55 Corporate equities 15,547.3 19,522.8
56 Household equity in noncorporate business 4,279.4 4,510.0
Liabilities not identified as assets (-)
57 Treasury currency -6.4 -7.1
58 Foreign deposits 525.5 568.2
59 Net interbank transactions -26.5 -28.5
60 Security repurchase agreements 230.6 266.4
61 Taxes payable 121.2 129.4
62 Miscellaneous -1,934.5 -2,311.6
Floats not included in assets (-)
63 Federal government checkable deposits -3.9 -9.8
64 Other checkable deposits 23.1 22.3
65 Trade credit 84.8 95.6
66 Totals identified to sectors as assets 76,110.3 86,905.3
Transaction category or sector 2000 2001
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 27,319.4 29,316.0
2 Domestic nonfederal nonfinancial sectors 3,572.5 3,585.9
3 Household 2,490.1 2,475.8
4 Nonfinancial corporate business 249.4 237.1
5 Nonfarm noncorporate business 65.9 67.9
6 State and local governments 767.0 805.1
7 Federal government 272.7 278.7
8 Rest of the world 2,476.9 2,724.3
9 Financial Sectors 20,997.4 22,727.1
10 Monetary authority 511.8 551.7
11 Commercial banking 5,006.3 5,210.5
12 U.S.-chartered banks 4,419.0 4,610.1
13 Foreign banking offices in United
States 511.3 510.7
14 Bank holding companies 20.5 24.7
15 Banks in U.S.-affiliated areas 55.0 65.0
16 Savings institutions 1,088.6 1,131.4
17 Credit unions 379.7 421.2
18 Bank personal trusts and estates 222.8 194.7
19 Life insurance companies 1,943.9 2,074.8
20 Other insurance companies 509.4 518.4
21 Private pension funds 606.5 673.1
22 State and local government retirement
funds 806.2 788.4
23 Money mark |