Financial and business statistics.
Financial and Business Statistics
A3 GUIDE TO TABLES
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
A4 Reserves, money stock, and debt measures
A5 Reserves of depository institutions and Reserve Bank
credit
A6 Reserves and borrowings--Depository
institutions
Policy Instruments
A7 Federal Reserve Bank interest rates
A8 Reserve requirements of depository institutions
A9 Federal Reserve open market transactions
Federal Reserve Banks
A10 Condition and Federal Reserve note statements
A11 Maturity distribution of loan and security
holding
Monetary and Credit Aggregates
A12 Aggregate reserves of depository institutions
and monetary base
A13 Money stock and debt measures
Commercial Banking Institutions--Assets
and Liabilities
A15 All commercial banks in the United States
A16 Domestically chartered commercial banks
A17 Large domestically chartered commercial banks
A19 Small domestically chartered commercial banks
A20 Foreign-related institutions
Financial Markets
A22 Commercial paper outstanding
A22 Prime rate charged by banks on short-term
business loans
A23 Interest rates--Money and capital markets
A24 Stock market--Selected statistics
Federal Finance
A25 Federal fiscal and financing operations
A26 U.S. budget receipts and outlays
A27 Federal debt subject to statutory limitation
A27 Gross public debt of U.S. Treasury--Types
and ownership
A28 U.S. government securities
dealers--Transactions
A29 U.S. government securities dealers--Positions
and financing
A30 Federal and federally sponsored credit
agencies--Debt outstanding
Securities Markets and Corporate Finance
A31 New security issues--Tax-exempt state and local
governments and corporations
A32 Open-end investment companies--Net sales
and assets
A32 Corporate profits and their distribution
A32 Domestic finance companies--Assets and liabilities
A33 Domestic finance companies--Owned and managed
receivables
Real Estate
A34 Mortgage markets--New homes
A35 Mortgage debt outstanding
Consumer Credit
A36 Total outstanding
A36 Terms
Flow of Funds
A37 Funds raised in U.S. credit markets
A39 Summary of financial transactions
A40 Summary of credit market debt outstanding
A41 Summary of financial assets and liabilities
DOMESTIC NONFINANCIAL STATISTICS
Selected Measures
A42 Nonfinancial business activity
A42 Labor force, employment, and unemployment
A43 Output, capacity, and capacity utilization
A44 Industrial production--Indexes and gross value
A46 Housing and construction
A47 Consumer and producer prices
A48 Gross domestic product and income
A49 Personal income and saving
INTERNATIONAL STATISTICS
Summary Statistics
A50 U.S. international transactions
A51 U.S. foreign trade
A51 U.S. reserve assets
A51 Foreign official assets held at Federal Reserve
Banks
A52 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
A52 Liabilities to, and claims on, foreigners
A53 Liabilities to foreigners
A55 Banks' own claims on foreigners
A56 Banks' own and domestic customers' claims on
foreigners
A56 Banks' own claims on unaffiliated foreigners
A57 Claims on foreign countries--Combined
domestic offices and foreign branches
Reported by Nonbanking Business
Enterprises in the United States
A58 Liabilities to unaffiliated foreigners
A59 Claims on unaffiliated foreigners
Securities Holdings and Transactions
A60 Foreign transactions in securities
A61 Marketable U.S. Treasury bonds and
notes--Foreign transactions
Interest and Exchange Rates
A62 Foreign exchange rates
A63 GUIDE TO STATISTICAL RELEASES AND
SPECIAL TABLES
SPECIAL TABLE
A64 Pro forma balance sheet and income statement
for priced service operations, September 30, 2001
A66 INDEX TO STATISTICAL TABLES
Guide to Tables
SYMBOLS AND ABBREVIATIONS
c Corrected
e Estimated
n.a. Not available
n.e.c. Not elsewhere classified
p Preliminary
r Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
* Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given 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 Agriculture Mortgage Corporation
FFB Federal Financing Bank
FHA Federal Housing Administration
FHLBB Federal Home Loan Bank Board
FHLMC Federal Home Loan Mortgage Corporation
FmHA Farmers Home Administration
FNMA Federal National Mortgage Association
FSA Farm Service Agency
FSLIC Federal Savings and Loan Insurance Corporation
G-7 Group of Seven
G-10 Group of Ten
GDP Gross domestic product
GNMA Government National Mortgage Association
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, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted (1)
2000 2001
Monetary or credit
aggregate Q4 (r) Q1 (r) Q2 (r) Q3 (r) June (r)
Reserves of
depository
institutions (2)
1 Total -9.0 -2.1 1.9 71.7 -3.9
2 Required -11.3 -3.6 4.3 10.4 -14.7
3 Nonborrowed -6.7 .4 .9 60.4 -4.4
4 Monetary base (3) 2.8 6.4 5.4 14.7 5.6
Concepts of money and
debt (4)
5 M1 -3.3 5.0 5.5 14.5 6.6
6 M2 6.0 9.8 9.7 10.7 9.9
7 M3 7.3 13.1 14.7 9.7 13.0
8 Debt 4.4 4.8 5.9 5.8 6.1
Nontransaction
components
9 In M2 (5) 8.8 11.2 10.9 9.6 10.8
10 In M3 only (6) 10.4 20.7 25.9 7.6 19.7
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 12.1 17.4 20.4 19.8 19.1
12 Small time (7) 5.6 2.5 -7.8 -10.3 -10.3
13 Large time (8,9) 4.1 -1.3 -.2 -4.0 9.2
Thrift institutions
14 Savings, including
MMDAs .4 6.5 22.3 25.3 25.1
15 Small time (7) 9.3 6.5 4.0 -4.8 -3.1
16 Large time (8) 10.6 11.1 12.8 16.0 -8.7
Money market mutual
funds
17 Retail 10.4 12.2 7.0 4.9 10.5
18 Institution-only 20.5 50.8 55.1 21.9 44.9
Repurchase agreements
and eurodollars
19 Repurchase
agreements (10) 2.1 -7.1 21.0 -9.6 1.6
20 Eurodollars (10) 10.3 38.6 8.1 6.4 -16.0
Debt components (4)
21 Federal -8.0 -5.2 -7.0 3.1 1.6
22 Nonfederal 7.4 7.1 8.7 6.3 7.1
2001
Monetary or credit
aggregate July (r) Aug. (r) Sept. (r) Oct.
Reserves of
depository
institutions (2)
1 Total 25.8 8.7 540.1 -266.0
2 Required 26.1 14.4 4.4 160.2
3 Nonborrowed 24.3 11.8 445.8 -210.8
4 Monetary base (3) 11.6 15.4 47.2 -19.1
Concepts of money and
debt (4)
5 M1 13.8 8.6 58.1 -41.3
6 M2 9.1 8.2 26.7 -1.5
7 M3 6.9 .8 25.0 10.6
8 Debt 3.8 6.7 8.0 n.a.
Nontransaction
components
9 In M2 (5) 7.8 8.1 18.0 9.9
10 In M3 only (6) 2.2 -14.8 21.1 37.0
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 12.4 24.5 32.9 12.4
12 Small time (7) -13.9 -7.5 -8.6 -11.2
13 Large time (8,9) -11.4 -19.4 6.7 23.7
Thrift institutions
14 Savings, including
MMDAs 23.1 24.3 22.9 33.4
15 Small time (7) -8.2 -9.9 -4.5 -14.9
16 Large time (8) 20.7 31.1 13.6 1.0
Money market mutual
funds
17 Retail 13.4 -9.6 17.1 16.2
18 Institution-only 9.7 -20.1 53.0 76.4
Repurchase agreements
and eurodollars
19 Repurchase
agreements (10) -12.4 -11.5 -40.8 -11.1
20 Eurodollars (10) 28.5 -4.9 26.8 -12.3
Debt components (4)
21 Federal 4.5 7.6 12.3 n.a.
22 Nonfederal 3.6 6.5 7.1 n.a.
(1.) Unless otherwise noted, rates of change are calculated
from average amounts outstanding during preceding
month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or
"breaks," associated with regulatory changes in reserve
requirements (See also table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
weekly reporters whose vault cash exceeds their required reserves)
the seasonally adjusted, break-adjusted difference between current
vault cash and the amount applied to satisfy current reserve
requirements.
(4.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks,
and the vaults of depository institutions, (2) travelers checks of
nonbank issuers, (3) demand deposits at all commercial banks other
than those owed to depository institutions, the U.S. government, and
foreign banks and official institutions, less cash items in the
process of collection and Federal Reserve float, and (4) other
checkable deposits (OCDs), consisting of negotiable order of
withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and
demand deposits at thrift institutions. Seasonally adjusted M1 is
computed by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAs), (2) small-denomination
time deposits (time deposits--including retail RPs--in amounts of
less than $100,000), and (3) balances in retail money market mutual
funds. Excludes individual retirement accounts (IRAs) and Keogh
balances at depository institutions and money market funds.
Seasonally adjusted M2 is calculated by summing savings deposits,
small-denomination time deposits, and retail money fund balances,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds,
(3) RP liabilities (overnight and term) issued by all depository
institutions, and (4) eurodollars (overnight and term) held by U.S.
residents at foreign branches of U.S. banks worldwide and at all
banking offices in the United Kingdom and Canada. Excludes amounts
held by depository institutions, the U.S. government, money market
funds, and foreign banks and official institutions. Seasonally
adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt
of the domestic nonfinancial sectors--the federal sector (U.S.
government, not including government-sponsored enterprises or
federally related mortgage pools) and the nonfederal sectors (state
and local governments, households and nonprofit organizations,
nonfinancial corporate and nonfarm noncorporate businesses, and
farms). Nonfederal debt consists of mortgages, tax-exempt and
corporate bonds, consumer credit, bank loans, commercial paper, and
other loans. The data, which are derived from the Federal Reserve
Board's flow of funds accounts, are break-adjusted (that is,
discontinuities in the data have been smoothed into the series) and
month-averaged (that is, the data have been derived by averaging
adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally
adjusted separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by
depository institutions, and (4) eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT (1)
Millions of dollars
Average of
daily figures
2001
Factor Aug. Sept. Oct.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 599,962 628,193 613,448
U.S. government
securities (2)
2 Bought outright--System
account (3) 539,769 533,581 541,533
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 22,971 44,704 33,035
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 23 3,344 9
9 Seasonal credit 165 89 68
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 35 7,551 490
13 Other Federal Reserve
assets 36,989 38,914 38,302
14 Gold stock 11,044 11,044 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,846 32,984 33,045
ABSORBING RESERVE FUNDS
17 Currency in circulation 607,335 613,474 615,444
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 413 424 438
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,040 6,644 5,234
21 Foreign 89 292 505
22 Service-related balances
and adjustments 7,558 7,796 8,160
23 Other 303 342 262
24 Other Federal Reserve
liabilities and capital 18,220 19,081 17,892
25 Reserve balances with
Federal Reserve Banks (5) 7,092 26,368 (r) 11,802
End-of-month figures
Aug. Sept. Oct.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 608,399 619,548 625,350
U.S. government
securities (2)
2 Bought outright--System
account (3) 541,807 534,136 544,287
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 29,755 47,880 45,050
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 6 7 15
9 Seasonal credit 117 81 40
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 463 -549 244
13 Other Federal Reserve
assets 36,241 37,983 35,703
14 Gold stock 11,044 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,957 33,013 33,069
ABSORBING RESERVE FUNDS
17 Currency in circulation 613,266 612,069 616,853
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 416 422 435
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,533 9,796 5,112
21 Foreign 80 609 75
22 Service-related balances
and adjustments 7,569 8,016 8,223
23 Other 276 191 271
24 Other Federal Reserve
liabilities and capital 18,139 17,875 17,773
25 Reserve balances with
Federal Reserve Banks (5) 9,321 16,829 22,923
Average of daily figures for week
ending on date indicated
2001
Factor Sept. 19 Sept. 26 Oct. 3
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 671,614 611,158 612,892
U.S. government
securities (2)
2 Bought outright--System
account (3) 523,359 530,998 534,515
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 75,296 39,333 41,250
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 1,502 1,065 11
9 Seasonal credit 95 67 83
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 27,252 1,906 -665
13 Other Federal Reserve
assets 44,101 37,778 37,689
14 Gold stock 11,043 11,043 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,985 32,999 33,013
ABSORBING RESERVE FUNDS
17 Currency in circulation 615,347 612,964 613,154
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 426 429 422
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 6,291 8,462 7,728
21 Foreign 157 605 619
22 Service-related balances
and adjustments 7,707 (r) 8,139 (r) 8,016
23 Other 382 298 235
24 Other Federal Reserve
liabilities and capital 20,660 18,787 17,855
25 Reserve balances with
Federal Reserve Banks (5) 66,873 (r) 7,716 11,121
Wednesday figures
Sept. 19 Sept. 26 Oct. 3
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 607,777 614,659 608,192
U.S. government
securities (2)
2 Bought outright--System
account (3) 526,624 526,817 537,834
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 39,600 51,290 32,755
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 2,587 20 0
9 Seasonal credit 87 75 85
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 1,258 -1,560 50
13 Other Federal Reserve
assets 37,613 38,007 37,459
14 Gold stock 11,043 11,043 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,985 32,999 33,013
ABSORBING RESERVE FUNDS
17 Currency in circulation 615,464 613,590 615,245
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 430 422 426
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,413 9,668 5,972
21 Foreign 258 635 609
22 Service-related balances
and adjustments 7,707 (r) 8,139 (r) 8,016
23 Other 288 237 283
24 Other Federal Reserve
liabilities and capital 20,071 17,760 17,663
25 Reserve balances with
Federal Reserve Banks (5) 4,374 (r) 10,450 (r) 6,237
Average of daily figures for week
ending on date indicated
2001
Factor Oct. 10 Oct. 17 Oct. 24 Oct. 31
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 615,543 616,686 606,617 617,176
U.S. government
securities (2)
2 Bought outright--System
account (3) 540,135 541,322 543,577 543,435
3 Held under repurchase
agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10 10
5 Held under repurchase
agreements 0 0 0 0
6 Repurchase agreements--
triparty (4) 32,719 33,154 27,405 37,843
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 8 7 10 10
9 Seasonal credit 81 67 64 54
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 1,737 915 -38 -146
13 Other Federal Reserve
assets 40,852 41,213 35,589 35,968
14 Gold stock 11,045 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 33,027 33,041 33,055 33,069
ABSORBING RESERVE FUNDS
17 Currency in circulation 616,701 616,113 614,807 614,653
18 Reverse repurchase
agreements--triparty (4) 0 0 0 0
19 Treasury cash holdings 428 442 451 438
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,076 4,722 5,321 5,121
21 Foreign 649 632 579 112
22 Service-related balances
and adjustments 8,327 8,096 8,057 8,223
23 Other 283 257 262 236
24 Other Federal Reserve
liabilities and capital 17,898 17,958 17,844 17,879
25 Reserve balances with
Federal Reserve Banks (5) 12,454 14,753 5,595 16,827
Wednesday figures
Oct. 10 Oct. 17 Oct. 24 Oct. 31
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 620,130 624,125 610,745 625,350
U.S. government
securities (2)
2 Bought outright--System
account (3) 540,111 544,024 544,190 544,287
3 Held under repurchase
agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10 10
5 Held under repurchase
agreements 0 0 0 0
6 Repurchase agreements--
triparty (4) 33,505 37,045 30,050 45,050
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 46 1 42 15
9 Seasonal credit 75 64 60 40
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 5,323 1,640 646 244
13 Other Federal Reserve
assets 41,061 41,342 35,747 35,703
14 Gold stock 11,045 11,045 11,045 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 33,027 33,041 33,055 33,069
ABSORBING RESERVE FUNDS
17 Currency in circulation 618,009 616,220 615,437 616,853
18 Reverse repurchase
agreements--triparty (4) 0 0 0 0
19 Treasury cash holdings 440 453 439 435
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,107 5,038 4,297 5,112
21 Foreign 603 744 282 75
22 Service-related balances
and adjustments 8,327 8,096 8,057 8,223
23 Other 259 256 251 271
24 Other Federal Reserve
liabilities and capital 17,838 17,734 17,597 17,773
25 Reserve balances with
Federal Reserve Banks (5) 15,819 21,872 10,685 22,923
(1.) Amounts of cash held as reserves are shown in table 1.12, line 2.
(2.) Includes securities loaned--fully guaranteed by U.S. government
securities pledged with Federal Reserve Banks--and excludes
securities sold and scheduled to be bought back under matched
sale--purchase transactions.
(3.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
(4.) Cash value of agreements arranged through third-party custodial
banks. These agreements are collateralized by U.S. government and
federal agency securities.
(5.) Excludes required clearing balances and adjustments to
compensate for float.
1.12 RESERVES AND BORROWINGS Depository Institutions (1)
Millions of dollars
Prorated monthly averages of
biweekly averages
1998 1999 2000
Reserve
classification Dec. Dec. Dec. (r)
1 Reserve balances
with Reserve
Banks (2) 9,026 5,262 7,022
2 Total vault
cash (3) 44,294 60,619 45,245
3 Applied vault
cash (4) 36,183 36,392 31,451
4 Surplus vault
cash (5) 8,111 24,227 13,794
5 Total reserves (6) 45,209 41,654 38,473
6 Required
reserves 43,695 40,357 37,046
7 Excess reserve
balances at
Reserve
Banks (7) 1,514 1,297 1,427
8 Total borrowing at
Reserve Banks 117 320 210
9 Adjustment 101 179 99
10 Seasonal 15 67 111
11 Special
Liquidity
Facility (8) 0 74 0
12 Extended
credit (9) 0 0 0
Biweekly averages of daily figures for
two-week periods ending on dates indicated
2001
June 27 (r) July 11 (r) July 25 (r)
1 Reserve balances
with Reserve
Banks (2) 7,257 7,346 7,927
2 Total vault
cash (3) 43,820 44,214 43,328
3 Applied vault
cash (4) 31,961 31,429 31,478
4 Surplus vault
cash (5) 11,859 12,785 11,850
5 Total reserves (6) 39,218 38,775 39,405
6 Required
reserves 37,797 37,241 38,043
7 Excess reserve
balances at
Reserve
Banks (7) 1,421 1,534 1,361
8 Total borrowing at
Reserve Banks 166 244 344
9 Adjustment 36 89 159
10 Seasonal 130 155 185
11 Special
Liquidity
Facility (8) ... ... ...
12 Extended
credit (9) 0 0 0
Prorated monthly averages of
biweekly averages
2001
Reserve
classification Apr. (r) May (r) June (r)
1 Reserve balances
with Reserve
Banks (2) 6,860 7,604 7,041
2 Total vault
cash (3) 43,672 43,267 43,139
3 Applied vault
cash (4) 31,729 31,771 31,174
4 Surplus vault
cash (5) 11,943 11,497 11,966
5 Total reserves (6) 38,589 39,374 38,215
6 Required
reserves 37,312 38,355 36,855
7 Excess reserve
balances at
Reserve
Banks (7) 1,277 1,019 1,360
8 Total borrowing at
Reserve Banks 51 213 229
9 Adjustment 15 134 110
10 Seasonal 35 79 120
11 Special
Liquidity
Facility (8) ... ... ...
12 Extended
credit (9) 0 0 0
Biweekly averages of daily figures for
two-week periods ending on dates indicated
2001
Aug. 8 (r) Aug. 22 (r) Sept. 5 (r)
1 Reserve balances
with Reserve
Banks (2) 7,642 7,029 8,287
2 Total vault
cash (3) 44,716 44,326 42,883
3 Applied vault
cash (4) 32,298 32,111 31,739
4 Surplus vault
cash (5) 12,418 12,215 11,145
5 Total reserves (6) 39,940 39,140 40,026
6 Required
reserves 38,799 38,088 38,523
7 Excess reserve
balances at
Reserve
Banks (7) 1,141 1,052 1,502
8 Total borrowing at
Reserve Banks 214 184 156
9 Adjustment 27 9 29
10 Seasonal
11 Special 188 175 127
Liquidity
Facility (8) ... ... ...
12 Extended
credit (9) 0 0 0
Prorated monthly averages of
biweekly averages
2001
Reserve
classification July (r) Aug. (r) Sept. (r) Oct.
1 Reserve balances
with Reserve
Banks (2) 7,665 7,552 25,564 12,127
2 Total vault
cash (3) 43,911 44,007 43,436 45,022
3 Applied vault
cash (4) 31,619 32,051 31,940 32,477
4 Surplus vault
cash (5) 12,291 11,956 11,496 12,546
5 Total reserves (6) 39,285 39,603 57,504 44,604
6 Required
reserves 37,904 38,397 38,491 43,590
7 Excess reserve
balances at
Reserve
Banks (7) 1,380 1,206 19,013 1,015
8 Total borrowing at
Reserve Banks 283 183 3,385 127
9 Adjustment 109 19 3,292 60
10 Seasonal 174 164 93 67
11 Special
Liquidity
Facility (8) ... ... ... ...
12 Extended
credit (9) 0 0 0 0
Biweekly averages of daily figures for
two-week periods ending on dates indicated
2001
Sept. 19 (r) Oct. 3 (r) Oct. 17 Oct. 31
1 Reserve balances
with Reserve
Banks (2) 44,460 9,368 13,635 11,212
2 Total vault
cash (3) 42,992 44,254 45,739 44,471
3 Applied vault
cash (4) 30,976 33,260 32,392 32,394
4 Surplus vault
cash (5) 12,016 10,994 13,347 12,077
5 Total reserves (6) 75,436 42,628 46,027 43,606
6 Required
reserves 37,301 39,992 45,187 42,763
7 Excess reserve
balances at
Reserve
Banks (7) 38,134 2,635 839 842
8 Total borrowing at
Reserve Banks 6,717 613 82 69
9 Adjustment 6,622 538 8 10
10 Seasonal
11 Special 95 75 74 59
Liquidity
Facility (8) ... ... ... ...
12 Extended
credit (9) 0 0 0 0
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to
compensate for float and includes other off-balance-sheet
"as-of" adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It includes
only vault cash held by those banks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current reserve
requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus
applied vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and
conditions established for the Century Date Change Special
Liquidity Facility in effect from October 1, 1999, through
April 7, 2000.
(9.) Consists of borrowing at the discount window under the
terms and conditions established for the extended credit program
to help depository institutions deal with sustained liquidity
pressures. Because there is not the same need to repay such borrowing
promptly as with traditional short-term adjustment credit, the money
market effect of extended credit is similar to that of nonborrowed
reserves.
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit (1)
Federal Reserve On
Bank 12/14/01 Effective date Previous rate
Boston 1.25 12/11/01 1.50
New York 1.25 12/11/01 1.50
Philadelphia 1.25 12/11/01 1.50
Cleveland 1.25 12/13/01 1.50
Richmond 1.25 12/13/01 1.50
Atlanta 1.25 12/13/01 1.50
Chicago 1.25 12/11/01 1.50
St. Louis 1.25 12/12/01 1.50
Minneapolis 1.25 12/13/01 1.50
Kansas City 1.25 12/13/01 1.50
Dallas 1.25 12/13/01 1.50
San Francisco 1.25 12/11/01 1.50
Current and previous levels
Seasonal credit (2)
Federal Reserve On
Bank 12/14/01 Effective date Previous rate
Boston 1.90 12/13/01 2.00
New York 1.90 12/13/01 2.00
Philadelphia 1.90 12/13/01 2.00
Cleveland 1.90 12/13/01 2.00
Richmond 1.90 12/13/01 2.00
Atlanta 1.90 12/13/01 2.00
Chicago 1.90 12/13/01 2.00
St. Louis 1.90 12/13/01 2.00
Minneapolis 1.90 12/13/01 2.00
Kansas City 1.90 12/13/01 2.00
Dallas 1.90 12/13/01 2.00
San Francisco 1.90 12/13/01 2.00
Current and previous levels
Extended credit (3)
Federal Reserve On
Bank 12/14/01 Effective date Previous rate
Boston 2.40 12/13/01 2.50
New York 2.40 12/13/01 2.50
Philadelphia 2.40 12/13/01 2.50
Cleveland 2.40 12/13/01 2.50
Richmond 2.40 12/13/01 2.50
Atlanta 2.40 12/13/01 2.50
Chicago 2.40 12/13/01 2.50
St. Louis 2.40 12/13/01 2.50
Minneapolis 2.40 12/13/01 2.50
Kansas City 2.40 12/13/01 2.50
Dallas 2.40 12/13/01 2.50
San Francisco 2.40 12/13/01 2.50
Range of rates for adjustment credit in recent years (4)
Range (or F.R. Bank
level)--All of
Effective date F.R. Banks N.Y.
In effect Dec. 31, 1981 12 12
1982-July 20 11.5-12 11.5
23 11.5 11.5
Aug. 2 11-11.5 11
3 11 11
16 10.5 10.5
27 10-10.5 10
30 10 10
Oct. 12 9.5-10 9.5
13 9.5 9.5
Nov. 22 9-9.5 9
26 9 9
Dec. 14 8.5-9 9
15 8.5-9 8.5
17 8.5 8.5
1984-Apr. 9 8.5-9 9
13 9 9
Nov. 21 8.5-9 8.5
26 8.5 8.5
Dec. 24 8 8
1985-May 20 7.5-8 7.5
24 7.5 7.5
1986-Mar. 7 7-7.5 7
10 7 7
Apr. 21 6.5-7 6.5
23 6.5 6.5
July 11 6 6
Aug. 21 5.5-6 5.5
22 5.5 5.5
1987-Sept. 4 5.5-6 6
11 6 6
1988-Aug. 9 6-6.5 6.5
11 6.5 6.5
1989-Feb. 24 6.5-7 7
27 7 7
1990-Dec. 19 6.5 6.5
1991-Feb. 1 6-6.5 6
4 6 6
Apr. 30 5.5-6 5.5
May 2 5.5 5.5
1991-Sept. 13 5-5.5 5
17 5 5
Nov. 6 4.5-5 4.5
7 4.5 4.5
Dec. 20 3.5-4.5 3.5
24 3.5 3.5
1992-July 2 3-3.5 3
7 3 3
1994-May 17 3-3.5 3.5
18 3.5 3.5
Aug. 16 3.5-4 4
18 4 4
Nov. 15 4-4.75 4.75
17 4.75 4.75
1995-Feb. 1 4.75-5.25 5.25
9 5.25 5.25
1996-Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998-Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999-Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000-Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001-Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001-May 15 3.50-4.00 3.50
17 3.50 3.50
June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
In effect Dec. 14, 2001 1.25 1.25
(1.) Available on a short-term basis to help depository institutions
meet temporary needs for funds that cannot be met through reasonable
alternative sources. The highest rate established for loans to
depository institutions may be charged on adjustment credit loans of
unusual size that result from a major operating problem at the
borrower's facility.
(2.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise from a clear pattern of
intrayearly movements in their deposits and loans and that cannot be
met through special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources of funds
and ordinarily is reestablished on the first business day of each
two-week reserve maintenance period; however, it is never less than
the discount rate applicable to adjustment credit.
(3.) May be made available to depository institutions when similar
assistance is not reasonably available from other sources, including
special industry lenders. Such credit may be provided when exceptional
circumstances (including sustained deposit drains, impaired access to
money market funds, or sudden deterioration in loan repayment
performance) or practices involve only a particular institution, or to
meet the needs of institutions experiencing difficulties adjusting to
changing market conditions over a longer period (particularly at times
of deposit disintermediation). The discount rate applicable to
adjustment credit ordinarily is charged on extended-credit loans
outstanding less than thirty days; however, at the discretion of the
Federal Reserve Bank, this time period may be shortened. Beyond this
initial period, a flexible rate somewhat above rates charged on market
sources of funds is charged. The rate ordinarily is reestablished on
the first business day of each two-week reserve maintenance
period, but it is never less than the discount rate applicable to
adjustment credit plus 50 basis points.
(4.) For earlier data, see the following publications of the Board of
Governors: Banking and Monetary Statistics, 1914-1941, and 1941-1970;
and the Annual Statistical Digest, 1970-1979, and 1980-1989. See also
the Board's Statistics: Releases and Historical Data web pages
(http://www.federalreserve.gov/releases/H15/data.htm).
1.51 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Percentage of
Type of deposit deposits Effective date
Net transaction accounts (2)
1 $0 million-$42.8 million (3) 3 12/30/99
2 More than $42.8 million (4) 10 12/30/99
3 Nonpersonal time deposits (5) 0 12/27/90
4 Eurocurrency liabilities (6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly,
on a pass-through basis, with certain approved institutions. For
previous reserve requirements, see earlier editions of the Annual
Report or the Federal Reserve Bulletin. Under the Monetary Control
Act of 1980, depository institutions include commercial banks,
savings banks, savings and loan associations, credit unions,
agencies and branches of foreign banks, and Edge Act corporations.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or telephone
or preauthorized transfers for the purpose of making payments to third
persons or others. However, accounts subject to the rules that permit
no more than six preauthorized, automatic, or other transfers per
month (of which no more than three may be by check, draft, debit card,
or similar order payable directly to third parties) are savings
deposits, not transaction accounts.
(3.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change
in transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 28, 2000, for depository institutions that
report weekly, and with the period beginning January 18, 2001, for
institutions that report quarterly, the amount was decreased
from $44.3 million to $42.8 million.
Under the Garn-St. Germain Depository Institutions Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
percent reserve requirement each year for the succeeding calendar year
by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual
basis as of June 30. No corresponding adjustment is made in the event
of a decrease. The exemption applies only to accounts that would be
subject to a 3 percent reserve requirement. Effective with the reserve
maintenance period beginning December 28, 2000, for depository
institutions that report weekly, and with the period beginning January
18, 2001, for institutions that report quarterly, the exemption was
raised from $5.0 million to $5.5 million.
(4.) The reserve requirement was reduced from 12 percent to 10 percent
on Apr. 2, 1992, for institutions that report weekly, and on Apr. 16,
1992, for institutions that report quarterly.
(5.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for the maintenance
period that began Dec. 13, 1990, and to zero for the maintenance period
that began Dec. 27, 1990. For institutions that report quarterly, the
reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years was reduced from 3 percent to zero on
Jan. 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1.5 years or more has been zero since Oct. 6, 1983.
(6.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as the
reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transaction
and maturity 1998 1999 2000
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 3,550 0 8,676
2 Gross sales 0 0 0
3 Exchanges 450,835 464,218 477,904
4 For new bills 450,835 464,218 477,904
5 Redemptions 2,000 0 24,522
Others within one year
6 Gross purchases 6,297 11,895 8,809
7 Gross sales 0 0 0
8 Maturity shifts 46,062 50,590 62,025
9 Exchanges -49,434 -53,315 -54,656
10 Redemptions 2,676 1,429 3,779
One to five years
11 Gross purchases 12,901 19,731 14,482
12 Gross sales 0 0 0
13 Maturity shifts -37,777 -44,032 -52,068
14 Exchanges 37,154 42,604 46,177
Five to ten years
15 Gross purchases 2,294 4,303 5,871
16 Gross sales 0 0 0
17 Maturity shifts -5,908 -5,841 -6,801
18 Exchanges 7,439 7,583 6,585
More than ten years
19 Gross purchases 4,884 9,428 5,833
20 Gross sales 0 0 0
21 Maturity shifts -2,377 -717 -3,155
22 Exchanges 4,842 3,139 1,894
All maturities
23 Gross purchases 29,926 45,357 43,670
24 Gross sales 0 0 0
25 Redemptions 4,676 1,429 28,301
Matched transactions
26 Gross purchases 4,430,457 4,413,430 4,399,257
27 Gross sales 4,434,358 4,431,685 4,381,188
Repurchase agreements
28 Gross purchases 512,671 281,599 0
29 Gross sales 514,186 301,273 0
30 Net change in U.S. Treasury
securities 19,835 5,999 33,439
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 25 0 0
33 Redemptions 322 157 51
Repurchase agreements
34 Gross purchases 284,316 360,069 0
35 Gross sales 276,266 370,772 0
36 Net change in federal agency
obligations 7,703 -10,859 -51
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 0 304,989 890,236
40 Gross sales 0 164,349 987,501
41 Net change in triparty
obligations 0 140,640 -97,265
42 Total net change in System
Open Market Account 27,538 135,780 -63,877
2001
Type of transaction
and maturity Mar. Apr. May June
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 579 308 624 2,165
2 Gross sales 0 0 0 0
3 Exchanges 46,712 38,317 47,112 40,363
4 For new bills 46,712 38,317 47,112 40,363
5 Redemptions 211 3,537 3,939 0
Others within one year
6 Gross purchases 67 3,027 2,174 1,410
7 Gross sales 0 0 0 0
8 Maturity shifts 0 12,204 8,117 0
9 Exchanges 0 -7,000 -8,965 0
10 Redemptions 0 4,368 2,287 0
One to five years
11 Gross purchases 1,883 4,480 2,685 1,428
12 Gross sales 0 0 0 0
13 Maturity shifts 0 -12,204 -1,913 0
14 Exchanges 0 7,000 6,508 0
Five to ten years
15 Gross purchases 0 1,390 657 0
16 Gross sales 0 0 0 0
17 Maturity shifts 0 0 -5,130 0
18 Exchanges 0 0 2,457 0
More than ten years
19 Gross purchases 1,000 913 1,241 1,419
20 Gross sales 0 0 0 0
21 Maturity shifts 0 0 -1,074 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 3,529 10,118 7,380 6,422
24 Gross sales 0 0 0 0
25 Redemptions 211 7,905 6,226 0
Matched transactions
26 Gross purchases 396,029 381,667 398,039 367,462
27 Gross sales 395,151 381,895 397,600 366,411
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S. Treasury
securities 4,196 1,984 1,592 7,472
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 0 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0 0
35 Gross sales 0 0 0 0
36 Net change in federal agency
obligations 0 0 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase agreements
39 Gross purchases 86,472 85,166 120,135 65,005
40 Gross sales 88,142 82,154 114,832 72,065
41 Net change in triparty
obligations -1,670 3,012 5,303 -7,060
42 Total net change in System
Open Market Account 2,526 4,996 6,895 412
2001
Type of transaction
and maturity July Aug. Sept.
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 718 2,899 348
2 Gross sales 0 0 0
3 Exchanges 42,001 55,231 42,268
4 For new bills 42,001 55,231 42,268
5 Redemptions 0 0 1,543
Others within one year
6 Gross purchases 235 1,385 0
7 Gross sales 0 0 0
8 Maturity shifts 7,088 9,379 0
9 Exchanges -7,667 -6,873 0
10 Redemptions 4,668 1,055 0
One to five years
11 Gross purchases 4,193 810 851
12 Gross sales 0 0 0
13 Maturity shifts 1,838 -9,379 0
14 Exchanges 7,667 5,290 0
Five to ten years
15 Gross purchases 756 935 0
16 Gross sales 0 0 0
17 Maturity shifts -8,926 1,043 0
18 Exchanges 0 1,043 0
More than ten years
19 Gross purchases 815 720 0
20 Gross sales 0 0 0
21 Maturity shifts 0 -1,043 0
22 Exchanges 0 540 0
All maturities
23 Gross purchases 6,716 6,749 1,199
24 Gross sales 0 0 0
25 Redemptions 4,668 1,055 1,543
Matched transactions
26 Gross purchases 392,721 406,143 508,129
27 Gross sales 394,381 405,627 515,429
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S. Treasury
securities 388 6,211 -7,645
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0
35 Gross sales 0 0 0
36 Net change in federal agency
obligations 0 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 106,355 103,255 406,930
40 Gross sales 103,255 99,850 388,805
41 Net change in triparty
obligations 3,100 3,405 18,125
42 Total net change in System
Open Market Account 3,488 9,616 10,480
(1.) Sales, redemptions, and negative figures reduce holdings
of the System Open Market Account; all other figures increase
such holdings,
(2.) Transactions exclude changes in compensation for the effects
of inflation on the principal of inflation-indexed securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Note Statements (1)
Millions of dollars
Wednesday
2001
Account Oct. 3 Oct. 10 Oct. 17 Oct. 24
Consolidated condition statement
ASSETS
1 Gold certificate account 11,045 11,045 11,045 11,045
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,122 1,110 1,105 1,113
Loans
4 To depository institutions 85 121 65 102
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 32,755 33,505 37,045 30,050
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 537,834 540,111 544,024 544,190
11 Bought outright (4) 537,834 540,l11 544,024 544,190
12 Bills 179,276 181,553 183,373 183,033
13 Notes 256,557 256,557 258,389 258,389
14 Bonds 102,001 102,001 102,261 102,768
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 570,684 573,747 581,144 574,352
17 Items in process of
collection 10,074 16,088 8,097 7,709
18 Bank premises 1,509 1,510 1,511 1,514
Other assets
19 Denominated in foreign
currencies (5) 15,341 15,311 15,233 15,009
20 All other (6) 20,492 20,935 21,278 21,751
21 Total assets 632,467 641,946 641,612 634,694
LIABILITIES
22 Federal Reserve notes 583,780 586,533 584,736 583,933
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 22,242 26,413 31,333 25,958
25 Depository institutions 15,378 20,445 25,295 21,128
26 U.S. Treasury--General
account 5,972 5,107 5,038 4,297
27 Foreign--Official accounts 609 603 744 282
28 Other 283 259 256 251
29 Deferred credit items 8,782 11,162 7,810 7,205
30 Other liabilities and
accrued dividends (7) 2,926 2,916 2,847 2,827
31 Total liabilities 617,730 627,024 626,725 619,923
CAPITAL ACCOUNTS
32 Capital paid in 7,266 7,268 7,271 7,275
33 Surplus 6,745 6,741 6,744 6,735
34 Other capital accounts 725 913 872 760
35 Total liabilities and
capital accounts 632,467 641,946 641,612 634,694
MEMO
36 Marketable U.S. Treasury
securities held in custody
for foreign and
international accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued to
Banks) 742,915 743,447 743,345 742,877
38 LESS: Held by Federal
Reserve Banks 159,136 156,915 158,610 158,944
39 Federal Reserve notes, net 583,780 586,533 584,736 583,933
Collateral held against
notes, net
40 Gold certificate account 11,045 11,045 11,045 11,045
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 0
43 U.S. Treasury and agency
securities 570,535 573,288 571,491 570,689
44 Total collateral 583,780 586,533 584,736 583,933
Wednes-
day End of month
2001 2001
Account Oct. 31 Aug. Sept. Oct.
Consolidated condition statement
ASSETS
1 Gold certificate account 11,045 11,044 11,045 11,045
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,123 1,096 1,141 1,123
Loans
4 To depository institutions 55 123 88 55
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 45,050 29,755 47,880 45,050
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 544,287 541,807 534,136 544,287
11 Bought outright (4) 544,287 541,807 534,136 544,287
12 Bills 182,652 183,600 175,104 182,652
13 Notes 258,389 256,196 257,030 258,389
14 Bonds 103,246 102,012 102,002 103,246
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 589,403 571,694 582,114 589,403
17 Items in process of
collection 7,676 5,821 5,089 7,676
18 Bank premises 1,513 1,510 1,508 1,513
Other assets
19 Denominated in foreign
currencies (5) 15,090 15,365 15,366 15,090
20 All other (6) 21,633 19,203 20,947 21,633
21 Total assets 649,682 627,932 639,410 649,682
LIABILITIES
22 Federal Reserve notes 585,342 581,820 580,619 585,342
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 38,735 22,808 35,532 38,735
25 Depository institutions 33,278 16,918 24,937 33,278
26 U.S. Treasury--General
account 5,112 5,533 9,796 5,112
27 Foreign--Official accounts 75 80 609 75
28 Other 271 276 191 271
29 Deferred credit items 7,833 5,166 5,384 7,833
30 Other liabilities and
accrued dividends (7) 2,773 3,137 2,971 2,773
31 Total liabilities 634,683 612,931 624,506 612,931
CAPITAL ACCOUNTS
32 Capital paid in 7,269 7,191 7,266 7,269
33 Surplus 6,738 6,747 6,741 6,738
34 Other capital accounts 993 1,063 896 993
35 Total liabilities and
capital accounts 649,682 627,932 639,410 649,682
MEMO
36 Marketable U.S. Treasury
securities held in custody
for foreign and
international accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued to
Banks) 741,957 739,560 742,539 741,957
38 LESS: Held by Federal
Reserve Banks 156,615 157,740 161,920 156,615
39 Federal Reserve notes, net 585,342 581,820 580,619 585,342
Collateral held against
notes, net
40 Gold certificate account 11,045 11,044 11,045 11,045
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 0
43 U.S. Treasury and agency
securities 572,097 568,576 567,374 572,097
44 Total collateral 585,342 581,820 580,619 585,342
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Cash value of agreements arranged through third-party custodial
banks.
(3.) Face value of the securities.
(4.) Includes securities loaned--fully guaranteed by U.S. Treasury
securities pledged with Federal Reserve Banks--and includes
compensation that adjusts for the effects of inflation on the
principal of inflation-indexed securities. Excludes securities sold
and scheduled to be bought back under matched sale-purchase
transactions.
(5.) Valued monthly at market exchange rates.
(6.) Includes special investment account at the Federal Reserve Bank
of Chicago in Treasury bills maturing within ninety days.
(7.) Includes exchange-translation account reflecting the monthly
revaluation at market exchange rates of foreign exchange commitments.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loan and Security
Holding
Millions of dollars
Wednesday
2001
Type of holding and maturity Oct. 3 Oct. 10 Oct. 17 Oct. 24
1 Total loans 85 121 65 102
2 Within fifteen days (1) 15 54 61 98
3 Sixteen days to ninety days 70 67 4 4
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 537,834 540,111 544,024 544,190
6 Within fifteen days (1) 15,876 13,296 22,407 22,095
7 Sixteen days to ninety days 116,513 122,288 115,828 116,721
8 Ninety-one days to one year 129,490 128,573 130,569 129,647
9 One year to five years 141,805 141,805 146,198 146,198
10 Five years to ten years 55,570 55,570 50,204 50,204
11 More than ten years 78,579 78,579 78,817 79,324
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen clays to ninety days 0 0 0 0
15 Ninety-one days to one year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
Wednes-
day End of month
2001 2001
Type of holding and maturity Oct. 31 Aug. Sept. Oct.
1 Total loans 55 123 88 55
2 Within fifteen days (1) 44 106 69 44
3 Sixteen days to ninety days 11 17 19 11
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 544,287 541,807 534,137 544,287
6 Within fifteen days (1) 19,638 3,906 10,737 19,638
7 Sixteen days to ninety days 113,438 125,620 117,454 113,438
8 Ninety-one days to one year 134,127 136,653 129,491 134,127
9 One year to five years 147,078 141,453 142,304 147,078
10 Five years to ten years 50,204 55,584 55,571 50,204
11 More than ten years 79,802 78,590 78,581 79,802
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen clays to ninety days 0 0 0 0
15 Ninety-one days to one year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
(1.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND
MONETARY BASE (1)
Billions of dollars, averages of daily figures
2000
1997 1998 1999 Dec.
Item Dec. Dec. Dec. (r)
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 46.85 45.18 41.78 38.44
2 Nonborrowed reserves (4) 46.52 45.07 41.46 38.23
3 Nonborrowed reserves plus
extended credit (5) 46.52 45.07 41.46 38.23
4 Required reserves 45.16 43.67 40.48 37.01
5 Monetary base (6) 479.47 513.49 593.09 583.82
Not seasonally adjusted
6 Total reserves (7) 48.01 45.31 41.89 38.53
7 Nonborrowed reserves 47.69 45.19 41.57 38.32
8 Nonborrowed reserves plus
extended credit (5) 47.69 45.19 41.57 38.32
9 Required reserves (8) 46.33 43.80 40.59 37.10
10 Monetary base (9) 484.98 518.27 600.72 590.06
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 47.92 45.21 41.65 38.47
12 Nonborrowed reserves 47.60 45.09 41.33 38.26
13 Nonborrowed reserves plus
extended credit (5) 47.60 45.09 41.33 38.26
14 Required reserves 46.24 43.70 40.36 37.05
15 Monetary base (12) 491.79 525.06 608.02 596.98
16 Excess reserves (13) 1.69 1.51 1.30 1.43
17 Borrowings from the Federal
Reserve .32 .12 .32 .21
2001
Mar. May June
Item (r) Apr. (r) (r)
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 38.27 38.79 38.88 38.76
2 Nonborrowed reserves (4) 38.21 38.74 38.67 38.53
3 Nonborrowed reserves plus
extended credit (5) 38.21 38.74 38.67 38.53
4 Required reserves 36.87 37.51 37.86 37.40
5 Monetary base (6) 592.42 595.93 599.08 601.87
Not seasonally adjusted
6 Total reserves (7) 37.77 38.65 (r) 39.46 38.31
7 Nonborrowed reserves 37.71 38.60 (r) 39.24 38.08
8 Nonborrowed reserves plus
extended credit (5) 37.71 38.60 (r) 39.24 38.08
9 Required reserves (8) 36.37 37.38 38.44 36.95
10 Monetary base (9) 591.37 594.92 598.57 601.67
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 37.72 38.59 39.37 38.22
12 Nonborrowed reserves 37.67 38.54 39.16 37.99
13 Nonborrowed reserves plus
extended credit (5) 37.67 38.54 39.16 37.99
14 Required reserves 36.32 37.31 38.36 36.86
15 Monetary base (12) 598.20 601.84 605.48 608.81
16 Excess reserves (13) 1.40 1.28 1.02 1.36
17 Borrowings from the Federal
Reserve .06 .05 .21 .23
2001
July Aug. Sept.
Item (r) (r) (r) Oct.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 39.59 39.88 57.82 45.01
2 Nonborrowed reserves (4) 39.31 39.69 54.44 44.88
3 Nonborrowed reserves plus
extended credit (5) 39.31 39.69 54.44 44.88
4 Required reserves 38.21 38.67 38.81 43.99
5 Monetary base (6) 607.67 615.48 639.71 629.51
Not seasonally adjusted
6 Total reserves (7) 39.40 39.73 57.66 44.79
7 Nonborrowed reserves 39.12 39.55 54.28 44.66
8 Nonborrowed reserves plus
extended credit (5) 39.12 39.55 54.28 44.66
9 Required reserves (8) 38.02 38.53 38.65 43.77
10 Monetary base (9) 608.22 614.51 637.94 627.86
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 39.29 39.60 57.50 44.60
12 Nonborrowed reserves 39.00 39.42 54.12 44.48
13 Nonborrowed reserves plus
extended credit (5) 39.00 39.42 54.12 44.48
14 Required reserves 37.90 38.40 38.49 43.59
15 Monetary base (12) 615.55 621.99 645.68 635.96
16 Excess reserves (13) 1.38 1.21 19.01 1.02
17 Borrowings from the Federal
Reserve .28 .18 3.39 .13
(1.) Latest monthly and biweekly figures are available from the
Board's H.3 (502) weekly statistical release. Historical data
starting in 1959 and estimates of the effect on required reserves
of changes in reserve requirements are available from the Money and
Reserves Projections Section, Division of Monetary Affairs, Board
of Governors of the Federal Reserve System, Washington, DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements. (See
also table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4)
plus excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves
equal seasonally adjusted, break-adjusted total reserves (line 1)
less total borrowings of depository institutions from the
Federal Reserve (line 17).
(5.) Extended credit consists of borrowing at the discount window
under the terms and conditions established for the extended credit
program to help depository institutions deal with sustained
liquidity pressures. Because there is not the same need to repay
such borrowing promptly as with traditional short-term adjustment
credit, the money market effect of extended credit is similar to that
of nonborrowed reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy
current reserve requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due
to regulatory changes in reserve requirements, a multiplicative
procedure is used to estimate what required reserves would have been
in past periods had current reserve requirements been in effect.
Break-adjusted required reserves include required reserves against
transactions deposits and nonpersonal time and savings deposits
(but not reservable nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted
total reserves (line 6), plus (2) the (unadjusted) currency
component of the money stock, plus (3) (for all quarterly reporters
on the "Report of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds
their required reserves) the break-adjusted difference between
current vault cash and the amount applied to satisfy current reserve
requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in reserve
requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2)
required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the
money stock, plus (4) (for all quarterly reporters on the "Report
of Transaction Accounts, Other Deposits and Vault Cash" and for
all those weekly reporters whose vault cash exceeds their required
reserves) the difference between current vault cash and the amount
applied to satisfy current reserve requirements. Since February
1984, currency and vault cash figures have been measured over
the computation periods ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK AND DEBT MEASURES (1)
Billions of dollars, averages of daily figures
1997 1998 1999
Item Dec. Dec. Dec. (r)
Seasonally adjusted
Measures (2)
1 M1 1,073.4 1,097.0 1,124.8
2 M2 4,030.0 (r) 4,384.1 (r) 4,651.8
3 M3 5,432.3 (r) 6,029.7 (r) 6,531.0
4 Debt 15,227.9 (r) 16,279.9 (r) 17,363.5
M1 components
5 Currency (3) 424.3 459.2 516.7
6 Travelers checks (4) 8.1 8.2 8.2
7 Demand deposits (5) 395.4 379.4 356.2
8 Other checkable
deposits (6) 245.7 250.1 243.6
Nontransaction components
9 In M2 (7) 2,956.6 (r) 3,287.1 (r) 3,527.0
10 In M3 only (8) 1,402.3 (r) 1,645.6 (r) 1,879.2
Commercial banks
11 Savings deposits, including
MMDAs 1,021.1 1,185.8 1,287.2
12 Small time deposits (9) 625.5 626.4 635.5
13 Large time deposits (10,11) 517.3 (r) 575.1 (r) 648.4
Thrift institutions
14 Savings deposits, including
MMDAs 376.8 414.1 449.0
15 Small time deposits (9) 342.9 325.8 320.6
16 Large time deposits (10) 85.5 88.7 91.3
Money market mutual funds
17 Retail 590.2 (r) 735.1 (r) 834.7
18 Institution-only 395.2 (r) 535.5 (r) 628.1
Repurchase agreements
and eurodollars
19 Repurchase agreements (12) 254.3 294.5 338.2
20 Eurodollars (12) 150.0 151.8 173.3
Debt components
21 Federal debt 3,800.4 3,751.1 3,660.1
22 Nonfederal debt 11,427.5 (r) 12,528.9 (r) 13,703.4
Not seasonally adjusted
Measures (2)
23 M1 1,096.9 1,120.4 1,148.3
24 M2 4,051.4 (r) 4,406.4 (r) 4,675.9
25 M3 5,457.7 (r) 6,061.9 (r) 6,568.6
26 Debt 15,222.4 (r) 16,267.5 (r) 17,355.0
M1 components
27 Currency (3) 428.1 463.3 521.5
28 Travelers checks (4) 8.3 8.4 8.4
29 Demand deposits (5) 412.4 395.9 371.8
30 Other checkable
deposits (6) 248.2 252.8 246.6
Nontransaction components
31 In M2 (7) 2,954.5 (r) 3,286.0 (r) 3,527.6
32 In M3 only (8) 1,406.3 (r) 1,655.5 (r) 1,892.8
Commercial banks
33 Savings deposits, including
MMDAs 1,020.4 1,186.0 1,288.8
34 Small time deposits (9) 625.3 626.5 635.7
35 Large time deposits (10,11) 516.7 (r) 574.5 647.7
Thrift institutions
36 Savings deposits, including
MMDAs 376.5 414.2 449.6
37 Small time deposits (9) 342.8 325.8 320.7
38 Large time deposits (10) 85.4 88.6 91.2
Money market mutual funds
39 Retail 589.5 (r) 733.5 (r) 832.8
40 Institution-only 402.3 (r) 547.5 (r) 643.2
Repurchase agreements
and eurodollars
41 Repurchase agreements (12) 249.5 290.4 334.7
42 Eurodollars (12) 152.3 154.5 176.0
Debt components
43 Federal debt 3,805.8 3,754.9 3,663.2
44 Nonfederal debt 11,416.6 (r) 12,512.5 (r) 13,691.8
2001
2000
Item Dec. (r) July (r) Aug. (r)
Seasonally adjusted
Measures (2)
1 M1 1,088.1 1,136.0 1,144.1
2 M2 4,937.4 5,225.5 5,261.2
3 M3 7,114.3 7,674.5 7,679.9
4 Debt 18,282.5 18,841.6 18,947.3
M1 components
5 Currency (3) 529.9 553.8 562.6
6 Travelers checks (4) 8.0 8.6 8.8
7 Demand deposits (5) 311.2 313.4 315.2
8 Other checkable
deposits (6) 239.0 260.2 257.4
Nontransaction components
9 In M2 (7) 3,849.3 4,089.4 4,117.1
10 In M3 only (8) 2,176.9 2,449.0 2,418.7
Commercial banks
11 Savings deposits, including
MMDAs 1,422.2 1,581.2 1,613.5
12 Small time deposits (9) 699.8 672.9 668.7
13 Large time deposits (10,11) 726.3 706.1 694.7
Thrift institutions
14 Savings deposits, including
MMDAs 451.6 508.0 518.3
15 Small time deposits (9) 344.8 350.3 347.4
16 Large time deposits (10) 103.1 111.8 114.7
Money market mutual funds
17 Retail 930.9 977.0 969.2
18 Institution-only 783.1 1,036.8 1,019.4
Repurchase agreements
and eurodollars
19 Repurchase agreements (12) 367.3 374.2 370.6
20 Eurodollars (12) 197.1 220.2 219.3
Debt components
21 Federal debt 3,400.4 3,317.9 3,339.0
22 Nonfederal debt 14,882.1 15,523.7 15,608.2
Not seasonally adjusted
Measures (2)
23 M1 1,112.3 1,135.9 1,141.3
24 M2 4,966.0 5,199.7 5,240.8
25 M3 7,159.7 7,616.1 7,637.8
26 Debt 18,273.5 18,753.7 18,862.7
M1 components
27 Currency (3) 535.2 554.5 561.9
28 Travelers checks (4) 8.1 8.2 8.4
29 Demand deposits (5) 326.5 314.7 315.5
30 Other checkable
deposits (6) 242.5 258.5 255.5
Nontransaction components
31 In M2 (7) 3,853.7 4,063.8 4,099.5
32 In M3 only (8) 2,193.7 2,416.4 2,397.0
Commercial banks
33 Savings deposits, including
MMDAs 1,426.9 1,579.7 1,607.4
34 Small time deposits (9) 700.0 671.2 667.9
35 Large time deposits (10,11) 725.6 704.3 690.7
Thrift institutions
36 Savings deposits, including
MMDAs 453.1 507.6 516.3
37 Small time deposits (9) 345.0 349.4 347.0
38 Large time deposits (10) 103.0 111.5 114.0
Money market mutual funds
39 Retail 928.7 955.9 960.8
40 Institution-only 801.4 1,008.9 1,005.2
Repurchase agreements
and eurodollars
41 Repurchase agreements (12) 364.2 374.1 370.1
42 Eurodollars (12) 199.5 217.6 217.0
Debt components
43 Federal debt 3,403.5 3,247.7 3,281.0
44 Nonfederal debt 14,870.0 15,506.0 15,581.7
2001
Item Sept. (r) Oct.
Seasonally adjusted
Measures (2)
1 M1 1,199.5 1,158.2
2 M2 5,378.4 5,371.7
3 M3 7,839.7 7,908.9
4 Debt 19,073.2 n.a.
M1 components
5 Currency (3) 568.0 571.5
6 Travelers checks (4) 8.4 8.1
7 Demand deposits (5) 365.6 327.4
8 Other checkable
deposits (6) 257.4 251.2
Nontransaction components
9 In M2 (7) 4,178.9 4,213.5
10 In M3 only (8) 2,461.3 2,537.2
Commercial banks
11 Savings deposits, including
MMDAs 1,657.7 1,674.8
12 Small time deposits (9) 663.9 657.7
13 Large time deposits (10,11) 698.6 712.4
Thrift institutions
14 Savings deposits, including
MMDAs 528.2 542.9
15 Small time deposits (9) 346.1 341.8
16 Large time deposits (10) 116.0 116.1
Money market mutual funds
17 Retail 983.0 996.3
18 Institution-only 1,064.4 1,132.2
Repurchase agreements
and eurodollars
19 Repurchase agreements (12) 358.0 354.7
20 Eurodollars (12) 224.2 221.9
Debt components
21 Federal debt 3,373.2 n.a.
22 Nonfederal debt 15,700.1 n.a.
Not seasonally
adjusted
Measures (2)
23 M1 1,194.3 1,155.5
24 M2 5,363.0 5,343.7
25 M3 7,791.7 7,855.9
26 Debt 18,990.2 n.a.
M1 components
27 Currency (3) 566.3 569.9
28 Travelers checks (4) 8.3 8.1
29 Demand deposits (5) 364.6 327.5
30 Other checkable
deposits (6) 255.2 249.9
Nontransaction components
31 In M2 (7) 4,168.8 4,188.2
32 In M3 only (8) 2,428.6 2,512.2
Commercial banks
33 Savings deposits, including
MMDAs 1,655.7 1,662.4
34 Small time deposits (9) 664.1 658.7
35 Large time deposits (10,11) 693.9 708.5
Thrift institutions
36 Savings deposits, including
MMDAs 527.5 538.8
37 Small time deposits (9) 346.2 342.3
38 Large time deposits (10) 115.2 115.5
Money market mutual funds
39 Retail 975.2 986.0
40 Institution-only 1,042.4 1,117.8
Repurchase agreements
and eurodollars
41 Repurchase agreements (12) 355.3 349.9
42 Eurodollars (12) 221.8 220.5
Debt components
43 Federal debt 3,319.1 n.a.
44 Nonfederal debt 15,671.1 n.a.
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in
1959 are available from the Money and Reserves Projections Section,
Division of Monetary Affairs, Board of Governors of the Federal
Reserve System, Washington, DC 20551.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks,
and the vaults of depository institutions, (2) travelers checks of
nonbank issuers, (3) demand deposits at all commercial banks other
than those owed to depository institutions, the U.S. government,
and foreign banks and official institutions, less cash items in the
process of collection and Federal Reserve float, and (4) other
checkable deposits (OCDs), consisting of negotiable order of
withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and
demand deposits at thrift institutions. Seasonally adjusted M1
is computed by summing currency, travelers checks, demand deposits,
and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money
market funds. Seasonally adjusted M2 is calculated by summing
savings deposits, small-denomination time deposits, and retail
money fund balances, each seasonally adjusted separately, and
adding this result to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of
the domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data,
which are derived from the Federal Reserve Board's flow of funds
accounts, are break-adjusted (that is, discontinuities in the data
have been smoothed into the series) and month-averaged (that is,
the data have been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks,
and vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks
of nonbank issuers. Travelers checks issued by depository
institutions are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions,
the U.S. government, and foreign banks and official institutions,
less cash items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by
depository institutions, and (4) eurodollars (overnight and
term) of U.S. addressees.
(9.) Small time deposits--including retail RPs--are those issued
in amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000
or more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by
money market funds, depository institutions, the U.S. government,
and foreign banks and official institutions.
(12.) Includes both overnight and term.
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
2000 2001
Apr. June
Account Oct. (r) May (r) (r)
Seasonally adjusted
Assets
1 Bank credit 5,143.7 (r) 5,314.7 5,323.7 5,320.3
2 Securities in bank
credit 1,314.1 (r) 1,360.4 1,368.0 1,377.7
3 U.S. government
securities 793.2 (r) 762.7 766.7 766.1
4 Other securities 520.8 (r) 597.7 601.3 611.7
5 Loans and leases in
bank credit (2) 3,829.7 (r) 3,954.2 3,955.8 3,942.5
6 Commercial and
industrial 1,080.5 1,098.6 1,095.7 1,078.8
7 Real estate 1,639.9 1,691.8 1,702.9 1,706.2
8 Revolving home
equity 125.0 133.9 135.2 136.3
9 Other 1,514.9 1,557.8 1,567.6 1,569.8
10 Consumer 530.0 548.4 552.6 551.0
11 Security (3) 163.9 179.6 168.1 172.0
12 Other loans and
leases 415.4 (r) 435.9 436.5 434.6
13 Interbank loans 246.4 (r) 289.9 283.3 268.1
14 Cash assets (4) 285.7 288.3 282.0 275.2
15 Other assets (5) 396.0 (r) 423.6 416.6 408.9
16 Total assets (6) 6,009.5 (r) 6,250.8 6,239.9 6,206.6
Liabilities
17 Deposits 3,788.8 3,992.6 4,007.3 4,041.3
18 Transaction 611.1 609.0 612.7 600.7
19 Nontransaction 3,177.7 3,383.7 3,394.6 3,440.6
20 Large time 916.2 951.3 966.1 979.1
21 Other 2,261.5 2,432.3 2,428.5 2,461.5
22 Borrowings 1,194.8 (r) 1,269.1 1,237.0 1,203.7
23 From banks in the U.S. 372.2 404.8 383.7 381.6
24 From others 822.6 (r) 864.3 853.3 822.2
25 Net due to related
foreign offices 252.5 190.0 207.4 184.5
26 Other liabilities 359.7 (r) 363.5 352.8 364.6
27 Total liabilities 5,595.8 (r) 5,815.2 5,804.6 5,794.1
28 Residual (assets less
liabilities) (7) 413.8 (r) 435.6 435.3 412.5
Not seasonally adjusted
Assets
29 Bank credit 5,151.5 (r) 5,307.1 5,313.0 5,313.1
30 Securities in bank
credit 1,310.9 (r) 1,362.0 1,367.2 1,377.1
31 U.S. government
securities 788.2 (r) 767.5 767.5 766.4
32 Other securities 522.7 (r) 594.5 599.7 610.6
33 Loans and leases in
bank credit (2) 3,840.2 (r) 3,945.8 3,945.8 3,936.0
34 Commercial and
industrial 1,080.1 1,103.3 1,097.9 1,081.0
35 Real estate 1,643.2 1,687.4 1,703.2 1,705.5
36 Revolving home
equity 126.0 133.0 135.3 136.5
37 Other 1,517.2 1,554.4 1,568.0 1,569.0
38 Consumer 529.7 545.3 550.4 548.3
39 Credit cards and
related plans 204.8 213.9 218.8 216.9
40 Other 324.9 331.4 331.7 331.5
41 Security (3) 171.0 175.2 162.1 167.4
42 Other loans and
leases 416.1 (r) 433.9 432.1 433.7
43 Interbank loans 241.9 (r) 296.0 276.7 265.9
44 Cash assets (4) 286.5 (r) 283.5 279.8 271.4
45 Other assets (5) 392.5 (r) 423.5 417.0 409.8
46 Total assets (6) 6,010.0 (r) 6,244.6 6,220.5 6,194.1
Liabilities
47 Deposits 3,777.3 4,011.9 3,995.3 4,022.3
48 Transaction 605.1 615.2 603.0 600.3
49 Nontransaction 3,172.2 3,396.7 3,392.3 3,422.1
50 Large time 911.2 952.6 964.8 969.5
51 Other 2,261.0 2,444.1 2,427.5 2,452.5
52 Borrowings 1,192.9 (r) 1,269.8 1,242.1 1,204.6
53 From banks in the U.S. 367.6 408.0 386.8 382.4
54 From others 825.3 (r) 861.8 855.2 822.2
55 Net due to related
foreign offices 252.9 183.0 206.6 180.7
56 Other liabilities 359.9 (r) 358.4 353.6 362.5
57 Total liabilities 5,583.0 (r) 5,823.1 5,797.6 5,770.1
58 Residual (assets less
liabilities) (7) 427.0 (r) 421.5 422.9 424.0
Monthly averages
2001
July Aug. Sept.
Account (r) (r) (r) Oct.
Seasonally adjusted
Assets
1 Bank credit 5,318.2 5,332.0 5,400.0 5,373.3
2 Securities in bank
credit 1,382.8 1,416.8 1,435.8 1,456.8
3 U.S. government
securities 773.5 786.7 797.1 813.5
4 Other securities 609.3 630.1 638.7 643.2
5 Loans and leases in
bank credit (2) 3,935.4 3,915.2 3,964.2 3,916.5
6 Commercial and
industrial 1,068.4 1,061.4 1,064.6 1,048.3
7 Real estate 1,714.6 1,709.6 1,715.4 1,727.6
8 Revolving home
equity 137.6 139.4 141.9 145.4
9 Other 1,577.0 1,570.3 1,573.6 1,582.2
10 Consumer 548.5 546.0 545.9 548.8
11 Security (3) 169.9 170.2 179.9 148.3
12 Other loans and
leases 434.0 427.9 458.3 443.5
13 Interbank loans 272.8 288.0 356.4 316.6
14 Cash assets (4) 288.1 282.5 326.7 297.8
15 Other assets (5) 419.1 428.8 464.8 483.5
16 Total assets (6) 6,232.0 6,264.6 6,481.1 6,402.7
Liabilities
17 Deposits 4,065.3 4,073.4 4,195.3 4,146.2
18 Transaction 605.6 610.6 688.7 637.1
19 Nontransaction 3,459.7 3,462.9 3,506.7 3,509.1
20 Large time 972.8 960.0 956.5 966.1
21 Other 2,486.9 2,502.8 2,550.2 2,542.9
22 Borrowings 1,214.3 1,222.6 1,273.7 1,248.6
23 From banks in the U.S. 389.3 396.9 441.7 419.5
24 From others 824.9 825.7 832.0 829.1
25 Net due to related
foreign offices 190.9 194.0 169.8 174.2
26 Other liabilities 343.5 353.7 405.2 378.3
27 Total liabilities 5,814.1 5,843.7 6,044.0 5,947.2
28 Residual (assets less
liabilities) (7) 417.9 420.8 437.1 455.4
Not seasonally adjusted
Assets
29 Bank credit 5,297.5 5,314.6 5,394.3 5,381.1
30 Securities in bank
credit 1,373.8 1,409.9 1,432.0 1,454.5
31 U.S. government
securities 769.4 782.0 794.1 808.6
32 Other securities 604.3 627.9 638.0 645.9
33 Loans and leases in
bank credit (2) 3,923.8 3,904.7 3,962.3 3,926.5
34 Commercial and
industrial 1,067.6 1,055.3 1,061.4 1,047.8
35 Real estate 1,713.6 1,712.8 1,719.0 1,731.3
36 Revolving home
equity 138.0 140.2 143.2 146.6
37 Other 1,575.6 1,572.6 1,575.8 1,584.7
38 Consumer 546.0 547.1 548.2 548.5
39 Credit cards and
related plans 215.9 216.5 215.3 216.4
40 Other 330.1 330.6 332.9 332.1
41 Security (3) 162.2 161.8 173.8 154.6
42 Other loans and
leases 434.4 427.9 460.0 444.3
43 Interbank loans 265.1 276.6 344.5 310.1
44 Cash assets (4) 279.1 270.7 322.1 298.2
45 Other assets (5) 417.6 425.9 464.8 479.1
46 Total assets (6) 6,193.2 6,221.1 6,458.6 6,400.2
Liabilities
47 Deposits 4,033.7 4,032.9 4,169.9 4,133.7
48 Transaction 599.3 596.7 682.6 631.3
49 Nontransaction 3,434.4 3,436.2 3,487.4 3,502.5
50 Large time 959.0 946.6 945.2 960.1
51 Other 2,475.4 2,489.6 2,542.2 2,542.3
52 Borrowings 1,205.1 1,201.1 1,268.4 1,246.2
53 From banks in the U.S. 386.1 388.6 431.9 414.3
54 From others 819.0 812.4 836.5 831.9
55 Net due to related
foreign offices 184.6 193.2 171.6 174.8
56 Other liabilities 339.0 353.5 405.6 378.4
57 Total liabilities 5,762.3 5,780.7 6,015.6 5,933.1
58 Residual (assets less
liabilities) (7) 430.9 440.3 443.0 467.1
Wednesday figures
2001
Account Oct. 10 Oct. 17 Oct. 24 Oct. 31
Seasonally adjusted
Assets
1 Bank credit 5,372.4 5,364.0 5,360.5 5,408.4
2 Securities in bank
credit 1,447.4 1,443.2 1,449.5 1,488.0
3 U.S. government
securities 810.0 802.6 807.4 835.8
4 Other securities 637.4 640.7 642.1 652.3
5 Loans and leases in
bank credit (2) 3,925.0 3,920.7 3,911.0 3,920.4
6 Commercial and
industrial 1,052.4 1,050.5 1,045.7 1,042.5
7 Real estate 1,730.3 1,728.2 1,724.7 1,734.0
8 Revolving home
equity 144.6 145.3 146.1 146.8
9 Other 1,585.7 1,582.9 1,578.6 1,587.3
10 Consumer 544.7 549.9 550.9 550.6
11 Security (3) 152.4 146.8 145.8 147.0
12 Other loans and
leases 445.2 445.4 443.8 446.2
13 Interbank loans 312.5 324.6 320.6 311.0
14 Cash assets (4) 318.1 272.9 290.6 308.1
15 Other assets (5) 476.3 477.5 494.8 481.4
16 Total assets (6) 6,411.0 6,370.1 6,397.7 6,440.6
Liabilities
17 Deposits 4,162.4 4,125.2 4,137.8 4,159.0
18 Transaction 632.7 613.6 653.7 657.1
19 Nontransaction 3,529.7 3,511.6 3,484.1 3,501.9
20 Large time 969.8 967.9 962.3 964.1
21 Other 2,559.9 2,543.7 2,521.8 2,537.8
22 Borrowings 1,240.3 1,245.4 1,244.1 1,266.7
23 From banks in the U.S. 417.1 425.9 414.4 421.6
24 From others 823.2 819.5 829.7 845.1
25 Net due to related
foreign offices 172.8 174.0 172.3 185.8
26 Other liabilities 379.4 368.4 379.7 375.6
27 Total liabilities 5,954.8 5,912.9 5,933.9 5,987.0
28 Residual (assets less
liabilities) (7) 456.1 457.2 463.8 453.6
Not seasonally adjusted
Assets
29 Bank credit 5,370.5 5,374.4 5,362.9 5,430.6
30 Securities in bank
credit 1,443.7 1,439.1 1,446.1 1,490.8
31 U.S. government
securities 803.9 796.5 801.3 834.3
32 Other securities 639.8 642.6 644.9 656.5
33 Loans and leases in
bank credit (2) 3,926.7 3,935.4 3,916.7 3,939.8
34 Commercial and
industrial 1,050.4 1,050.3 1,043.3 1,044.3
35 Real estate 1,734.0 1,732.5 1,727.3 1,738.4
36 Revolving home
equity 145.7 146.6 147.3 147.9
37 Other 1,588.3 1,585.9 1,580.1 1,590.5
38 Consumer 543.3 549.6 551.4 551.0
39 Credit cards and
related plans 210.8 217.5 219.2 219.4
40 Other 332.5 332.0 332.2 331.7
41 Security (3) 153.5 155.2 153.7 157.9
42 Other loans and
leases 445.5 447.9 441.0 448.1
43 Interbank loans 304.4 318.2 303.8 315.3
44 Cash assets (4) 320.9 288.1 272.3 313.1
45 Other assets (5) 473.9 472.9 482.4 479.9
46 Total assets (6) 6,401.5 6,385.2 6,352.9 6,470.7
Liabilities
47 Deposits 4,160.6 4,125.9 4,089.0 4,156.7
48 Transaction 630.2 621.0 621.3 658.0
49 Nontransaction 3,530.4 3,504.9 3,467.6 3,498.8
50 Large time 961.7 958.4 958.5 962.8
51 Other 2,568.7 2,546.4 2,509.1 2,536.0
52 Borrowings 1,233.4 1,244.8 1,237.4 1,271.8
53 From banks in the U.S. 410.8 421.2 407.7 419.7
54 From others 822.6 823.6 829.7 852.1
55 Net due to related
foreign offices 169.7 174.6 172.2 191.5
56 Other liabilities 375.0 367.4 381.6 380.5
57 Total liabilities 5,938.7 5,912.7 5,880.3 6,000.6
58 Residual (assets less
liabilities) (7) 462.8 472.5 472.7 470.1
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Apr. June
Account Oct. (r) May (r) (r)
Seasonally adjusted
Assets
1 Bank credit 4,556.9 4,688.0 4,712.3 4,717.4
2 Securities in bank
credit 1,112.0 1,139.5 1,153.4 1,161.7
3 U.S. government
securities 723.6 688.3 697.0 698.0
4 Other securities 388.5 451.2 456.4 463.7
5 Loans and leases in
bank credit (2) 3,444.9 3,548.6 3,558.9 3,555.7
6 Commercial and
industrial 877.0 879.8 877.8 868.0
7 Real estate 1,621.8 1,673.8 1,684.7 1,688.1
8 Revolving home
equity 125.0 133.9 135.2 136.3
9 Other 1,496.8 1,539.9 1,549.4 1,551.7
10 Consumer 530.0 548.4 552.6 551.0
11 Security (3) 67.7 78.8 75.2 80.8
12 Other loans and
leases 348.4 367.8 368.6 367.7
13 Interbank loans 219.1 262.2 253.7 246.2
14 Cash assets (4) 243.8 249.6 244.7 238.9
15 Other assets (5) 359.3 384.0 379.4 371.8
16 Total assets (6) 5,317.3 5,518.4 5,524.6 5,508.8
Liabilities
17 Deposits 3,405.1 3,598.3 3,598.8 3,622.6
18 Transaction 600.4 598.2 602.2 591.2
19 Nontransaction 2,804.7 3,000.1 2,996.7 3,031.4
20 Large time 545.4 570.0 570.4 572.2
21 Other 2,259.3 2,430.0 2,426.2 2,459.2
22 Borrowings 974.1 1,028.8 1,018.0 988.0
23 From banks in the U.S. 353.2 379.5 363.4 359.1
24 From others 621.0 649.4 654.6 628.9
25 Net due to related
foreign offices 236.1 185.5 211.8 204.1
26 Other liabilities 283.6 274.7 266.7 280.1
27 Total liabilities 4,898.9 5,087.3 5,095.3 5,094.8
28 Residual (assets less
liabilities) (7) 418.4 431.1 429.3 414.0
Not seasonally adjusted
Assets
29 Bank credit 4,560.3 4,683.3 4,706.3 4,713.9
30 Securities in bank
credit 1,108.9 1,141.1 1,152.6 1,161.0
31 U.S. government
securities 718.5 693.1 697.9 698.4
32 Other securities 390.4 447.9 454.8 462.7
33 Loans and leases in
bank credit (2) 3,451.4 3,542.3 3,553.6 3,552.9
34 Commercial and
industrial 876.4 886.2 883.1 871.4
35 Real estate 1,625.1 1,669.5 1,685.1 1,687.4
36 Revolving home
equity 126.0 133.0 135.3 136.5
37 Other 1,499.0 1,536.5 1,549.8 1,550.9
38 Consumer 529.7 545.3 550.4 548.3
39 Credit cards and
related plans 204.8 213.9 218.8 216.9
40 Other 324.9 331.4 331.7 331.5
41 Security (3) 70.6 75.8 70.0 78.2
42 Other loans and
leases 349.6 365.5 365.0 367.5
43 Interbank loans 214.7 268.2 247.2 244.0
44 Cash assets (4) 243.8 246.3 243.3 236.2
45 Other assets (5) 356.3 384.7 380.2 374.0
46 Total assets (6) 5,313.4 5,517.5 5,511.4 5,502.5
Liabilities
47 Deposits 3,399.9 3,614.7 3,585.6 3,610.8
48 Transaction 594.3 605.0 592.8 590.9
49 Nontransaction 2,805.6 3,009.7 2,992.8 3,019.8
50 Large time 546.8 567.9 567.6 569.6
51 Other 2,258.8 2,441.8 2,425.2 2,450.3
52 Borrowings 972.2 1,029.6 1,023.0 988.8
53 From banks in the U.S. 348.5 382.7 366.5 359.9
54 From others 623.8 646.9 656.5 628.9
55 Net due to related
foreign offices 236.2 183.1 214.1 203.4
56 Other liabilities 283.7 271.7 269.0 279.5
57 Total liabilities 4,892.0 5,099.1 5,091.8 5,082.5
58 Residual (assets less
liabilities) (7) 421.3 418.4 419.6 420.0
Monthly averages
2001
July Aug. Sept.
Account (r) (r) (r) Oct.
Seasonally adjusted
Assets
1 Bank credit 4,725.7 4,739.8 4,813.1 4,797.4
2 Securities in bank
credit 1,166.3 1,197.2 1,215.3 1,237.9
3 U.S. government
securities 706.4 719.9 727.3 741.4
4 Other securities 459.9 477.3 488.0 496.5
5 Loans and leases in
bank credit (2) 3,559.4 3,542.6 3,597.8 3,559.5
6 Commercial and
industrial 862.6 856.9 860.1 846.4
7 Real estate 1,696.3 1,690.9 1,696.2 1,708.2
8 Revolving home
equity 137.6 139.4 141.9 145.4
9 Other 1,558.7 1,551.6 1,554.3 1,562.7
10 Consumer 548.5 546.0 545.9 548.8
11 Security (3) 83.5 86.4 102.4 77.2
12 Other loans and
leases 368.6 362.2 393.2 378.9
13 Interbank loans 251.5 267.6 330.3 292.4
14 Cash assets (4) 251.3 245.2 281.5 258.7
15 Other assets (5) 387.4 399.6 433.3 453.0
16 Total assets (6) 5,550.1 5,585.9 5,791.6 5,733.3
Liabilities
17 Deposits 3,652.9 3,670.2 3,792.1 3,732.5
18 Transaction 596.4 600.7 675.8 625.6
19 Nontransaction 3,056.5 3,069.5 3,116.4 3,106.9
20 Large time 572.0 569.0 568.5 566.3
21 Other 2,484.5 2,500.5 2,547.9 2,540.6
22 Borrowings 1,003.6 1,012.3 1,052.6 1,044.4
23 From banks in the U.S. 367.0 376.0 410.7 395.8
24 From others 636.5 636.3 641.9 648.6
25 Net due to related
foreign offices 207.1 205.7 188.1 192.9
26 Other liabilities 264.0 275.1 324.5 302.0
27 Total liabilities 5,127.5 5,163.2 5,357.3 5,271.8
28 Residual (assets less
liabilities) (7) 422.5 422.6 434.3 461.5
Not seasonally adjusted
Assets
29 Bank credit 4,709.6 4,728.8 4,809.1 4,802.3
30 Securities in bank
credit 1,157.3 1,190.4 1,211.5 1,235.7
31 U.S. government
securities 702.3 715.2 724.3 736.5
32 Other securities 454.9 475.1 487.2 499.2
33 Loans and leases in
bank credit (2) 3,552.3 3,538.4 3,597.6 3,566.6
34 Commercial and
industrial 862.5 852.1 857.2 845.7
35 Real estate 1,695.3 1,694.1 1,699.8 1,711.9
36 Revolving home
equity 138.0 140.2 143.2 146.6
37 Other 1,557.3 1,553.9 1,556.6 1,565.2
38 Consumer 546.0 547.1 548.2 548.5
39 Credit cards and
related plans 215.9 216.5 215.3 216.4
40 Other 330.1 330.6 332.9 332.1
41 Security (3) 78.6 81.8 97.3 80.4
42 Other loans and
leases 369.9 363.4 395.2 380.1
43 Interbank loans 243.8 256.3 318.4 285.8
44 Cash assets (4) 243.6 234.6 277.8 258.4
45 Other assets (5) 386.7 397.0 433.5 449.1
46 Total assets (6) 5,517.9 5,550.2 5,772.1 5,727.7
Liabilities
47 Deposits 3,631.4 3,641.4 3,774.6 3,727.3
48 Transaction 590.0 586.8 669.3 619.6
49 Nontransaction 3,041.5 3,054.6 3,105.3 3,107.7
50 Large time 568.3 567.3 565.4 567.7
51 Other 2,473.1 2,487.3 2,539.9 2,540.0
52 Borrowings 994.3 990.8 1,047.3 1,042.0
53 From banks in the U.S. 363.8 367.7 400.9 390.5
54 From others 630.6 623.0 646.3 651.5
55 Net due to related
foreign offices 204.0 206.1 187.5 193.2
56 Other liabilities 260.9 275.4 323.8 301.9
57 Total liabilities 5,090.6 5,113.7 5,333.2 5,264.4
58 Residual (assets less
liabilities) (7) 427.3 436.5 438.9 463.2
Wednesday figures
2001
Account Oct. 10 Oct. 17 Oct. 24 Oct. 31
Seasonally adjusted
Assets
1 Bank credit 4,799.2 4,794.2 4,788.1 4,820.2
2 Securities in bank
credit 1,231.0 1,228.9 1,231.3 1,263.2
3 U.S. government
securities 740.8 732.9 734.5 759.0
4 Other securities 490.2 495.9 496.8 504.2
5 Loans and leases in
bank credit (2) 3,568.3 3,565.4 3,556.9 3,557.0
6 Commercial and
industrial 851.4 848.7 844.1 839.1
7 Real estate 1,711.0 1,708.8 1,705.2 1,714.3
8 Revolving home
equity 144.6 145.3 146.1 146.8
9 Other 1,566.4 1,563.5 1,559.0 1,567.6
10 Consumer 544.7 549.9 550.9 550.6
11 Security (3) 81.4 77.0 77.2 71.5
12 Other loans and
leases 379.7 381.0 379.5 381.4
13 Interbank loans 289.6 293.8 298.3 288.8
14 Cash assets (4) 279.1 231.6 252.4 270.6
15 Other assets (5) 445.3 448.8 463.6 451.9
16 Total assets (6) 5,745.2 5,699.9 5,733.9 5,763.4
Liabilities
17 Deposits 3,750.7 3,707.5 3,724.2 3,744.9
18 Transaction 621.3 601.8 642.0 645.3
19 Nontransaction 3,129.4 3,105.7 3,082.2 3,099.5
20 Large time 571.9 564.3 562.8 564.1
21 Other 2,557.6 2,541.4 2,519.4 2,535.4
22 Borrowings 1,039.4 1,045.6 1,045.9 1,051.1
23 From banks in the U.S. 395.3 401.0 393.8 396.5
24 From others 644.0 644.6 652.2 654.7
25 Net due to related
foreign offices 193.8 187.0 186.8 208.0
26 Other liabilities 302.5 294.8 302.9 299.8
27 Total liabilities 5,286.4 5,234.9 5,259.7 5,303.8
28 Residual (assets less
liabilities) (7) 458.7 465.0 474.2 459.6
Not seasonally adjusted
Assets
29 Bank credit 4,797.8 4,801.2 4,788.0 4,835.7
30 Securities in bank
credit 1,227.3 1,224.7 1,228.0 1,265.9
31 U.S. government
securities 734.7 726.9 728.3 757.6
32 Other securities 492.6 497.9 499.6 508.3
33 Loans and leases in
bank credit (2) 3,570.4 3,576.5 3,560.0 3,569.7
34 Commercial and
industrial 849.9 848.5 841.9 839.6
35 Real estate 1,714.7 1,713.1 1,707.7 1,718.7
36 Revolving home
equity 145.7 146.6 147.3 147.9
37 Other 1,569.0 1,566.5 1,560.5 1,570.8
38 Consumer 543.3 549.6 551.4 551.0
39 Credit cards and
related plans 210.8 217.5 219.2 219.4
40 Other 332.5 332.0 332.2 331.7
41 Security (3) 81.4 81.6 81.6 77.2
42 Other loans and
leases 381.1 383.8 377.3 383.2
43 Interbank loans 281.4 287.4 281.5 293.1
44 Cash assets (4) 282.4 246.1 233.1 273.8
45 Other assets (5) 443.1 444.5 451.9 450.8
46 Total assets (6) 5,736.8 5,711.0 5,686.3 5,785.5
Liabilities
47 Deposits 3,758.0 3,718.4 3,681.3 3,746.9
48 Transaction 619.1 609.0 609.6 645.7
49 Nontransaction 3,139.0 3,109.4 3,071.7 3,101.2
50 Large time 572.6 565.3 564.9 567.5
51 Other 2,566.4 2,544.1 2,506.8 2,533.7
52 Borrowings 1,032.5 1,045.1 1,039.2 1,056.3
53 From banks in the U.S. 389.0 396.3 387.0 394.6
54 From others 643.4 648.8 652.2 661.7
55 Net due to related
foreign offices 189.9 185.9 190.5 211.8
56 Other liabilities 297.8 293.1 306.4 303.9
57 Total liabilities 5,278.2 5,242.4 5,217.3 5,318.9
58 Residual (assets less
liabilities) (7) 458.6 468.6 469.0 466.6
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Account Oct. Apr. May June
Seasonally adjusted
Assets
1 Bank credit 2,554.0 2,620.3 2,631.6 2,629.3
2 Securities in bank credit 580.0 598.6 608.7 612.4
3 U.S. government
securities 360.8 346.3 354.4 352.6
4 Trading account 21.2 33.7 35.3 35.1
5 Investment account 339.6 312.6 319.2 317.5
6 Other securities 219.2 252.3 254.2 259.7
7 Trading account 111.7 135.9 137.0 143.5
8 Investment account 107.5 116.3 117.2 116.3
9 State and local
government 25.9 28.4 28.1 27.9
10 Other 81.6 88.0 89.1 88.4
11 Loans and leases in bank
credit (2) 1,974.0 2,021.7 2,022.9 2,016.9
12 Commercial and
industrial 593.7 585.2 582.8 570.8
13 Bankers acceptances .9 .8 .8 .7
14 Other 592.8 584.4 582.0 570.1
15 Real estate 824.4 848.3 854.1 852.9
16 Revolving home equity 80.1 86.2 86.7 86.9
17 Other 744.2 762.1 767.4 766.0
18 Consumer 238.0 249.8 252.3 254.2
19 Security (3) 61.0 70.4 66.8 72.5
20 Federal funds sold to
and repurchase
agreements with
broker--dealers 43.2 53.9 49.4 54.7
21 Other 17.8 16.5 17.4 17.8
22 State and local
government 12.8 13.0 13.0 13.3
23 Agricultural 9.6 10.4 10.6 10.3
24 Federal funds sold to
and repurchase
agreements with
others 17.1 23.0 23.6 25.5
25 All other loans 87.6 87.7 85.5 84.7
26 Lease-financing
receivables 129.8 133.8 134.4 132.6
27 Interbank loans 138.5 147.9 134.3 131.0
28 Federal funds sold to and
repurchase agreements
with commercial banks 60.7 84.0 72.9 72.3
29 Other 77.9 63.9 61.4 58.7
30 Cash assets (4) 144.7 145.6 139.9 135.7
31 Other assets (5) 266.8 276.9 274.0 261.8
32 Total assets (6) 3,068.2 3,152.7 3,142.2 3,120.0
Liabilities
33 Deposits 1,668.8 1,741.2 1,732.1 1,736.7
34 Transaction 306.6 303.2 304.1 299.7
35 Nontransaction 1,362.2 1,438.0 1,428.0 1,437.0
36 Large time 259.7 268.4 270.7 274.1
37 Other 1,102.5 1,169.6 1,157.3 1,162.9
38 Borrowings 650.1 696.5 682.4 654.5
39 From banks in the U.S. 198.8 230.7 213.4 211.0
40 From others 451.2 465.8 469.0 443.5
41 Net due to related foreign
offices 212.6 172.7 195.2 190.9
42 Other liabilities 234.8 221.1 211.5 223.7
43 Total liabilities 2,766.3 2,831.5 2,821.2 2,805.9
44 Residual (assets less
liabilities) (7) 301.9 321.3 321.0 314.1
Not seasonally adjusted
Assets
45 Bank credit 2,555.9 2,615.9 2,625.1 2,623.9
46 Securities in bank credit 579.3 597.6 606.4 610.0
47 US government securities 358.2 348.5 353.8 351.3
48 Trading account 21.1 34.0 35.2 35.0
49 Investment account 337.1 314.5 318.6 316.3
50 Mortgage-backed
securities 215.6 227.2 233.9 230.3
51 Other 121.5 87.3 84.6 86.1
52 One year or less 32.2 30.0 26.9 25.4
53 One to five years 52.0 31.4 31.1 34.2
54 More than five
years 37.3 25.9 26.6 26.5
55 Other securities 221.1 249.0 252.6 258.7
56 Trading account 112.7 134.2 136.1 142.9
57 Investment account 108.4 114.9 116.5 115.8
58 State and local
government 26.1 28.0 28.0 27.8
59 Other 82.3 86.8 88.5 88.1
60 Loans and leases in bank
credit (2) 1,976.6 2,018.3 2,018.7 2,013.8
61 Commercial and
industrial 593.4 589.5 585.5 572.4
62 Bankers acceptances .9 .8 .8 .7
63 Other 592.6 588.7 584.7 571.6
64 Real estate 826.8 844.3 853.7 851.5
65 Revolving home equity 80.9 85.3 86.7 87.1
66 Other 453.8 462.1 468.6 465.0
67 Commercial 292.0 297.0 298.4 299.4
68 Consumer 235.8 250.4 252.7 253.6
69 Credit cards and
related plans 76.6 84.7 87.0 88.0
70 Other 159.2 165.8 165.8 165.7
71 Security (3) 63.8 67.4 61.9 70.1
72 Federal funds sold to
and repurchase
agreements with
broker--dealers 45.2 51.5 45.8 52.9
73 Other 18.6 15.8 16.1 17.2
74 State and local
government 12.8 13.0 13.0 13.3
75 Agricultural 9.7 10.2 10.5 10.4
76 Federal funds sold to
and repurchase
agreements with
others 17.1 23.0 23.6 25.5
77 All other loans 87.7 86.6 84.0 84.8
78 Lease-financing
receivables 129.5 133.9 133.7 132.2
79 Interbank loans 133.0 150.0 136.7 135.4
80 Federal funds sold to and
repurchase agreements
with commercial banks 58.3 85.1 74.1 74.7
81 Other 74.7 64.9 62.5 60.7
82 Cash assets (4) 144.1 145.9 140.1 134.1
83 Other assets (5) 263.8 277.6 274.9 264.0
84 Total assets (6) 3,061.3 3,151.7 3,138.9 3,119.5
Liabilities
85 Deposits 1,662.7 1,750.3 1,725.3 1,736.2
86 Transaction 301.1 310.5 299.9 299.8
87 Nontransaction 1,361.6 1,439.8 1,425.4 1,436.5
88 Large time 261.1 266.3 267.8 271.5
89 Other 1,100.4 1,173.5 1,157.6 1,165.0
90 Borrowings 648.2 697.3 687.4 655.3
91 From banks in the U.S. 194.2 233.9 216.5 211.8
92 From nonbanks in the U.S. 454.0 463.3 470.9 443.6
93 Net due to related foreign
offices 212.7 170.3 197.5 190.3
94 Other liabilities 234.8 218.1 213.8 223.1
95 Total liabilities 2,758.4 2,836.0 2,824.1 2,805.0
96 Residual (assets less
liabilities) (7) 302.8 315.7 314.8 314.6
Monthly averages
2001
Account July Aug. Sept. Oct.
Seasonally adjusted
Assets
1 Bank credit 2,622.5 2,622.8 2,686.0 2,627.0
2 Securities in bank credit 609.7 630.9 641.9 648.5
3 U.S. government
securities 353.3 361.0 364.2 365.6
4 Trading account 38.3 36.3 37.9 35.7
5 Investment account 315.0 324.8 326.3 329.9
6 Other securities 256.4 269.9 277.7 282.8
7 Trading account 140.8 153.1 160.9 165.4
8 Investment account 115.6 116.8 116.8 117.4
9 State and local
government 27.8 27.6 27.5 26.8
10 Other 87.8 89.2 89.3 90.7
11 Loans and leases in bank
credit (2) 2,012.8 1,991.8 2,044.1 1,978.5
12 Commercial and
industrial 561.7 556.6 560.7 546.2
13 Bankers acceptances n.a. n.a. n.a. n.a.
14 Other 561.7 556.6 560.7 546.2
15 Real estate 853.9 844.5 844.4 841.1
16 Revolving home equity 86.8 87.3 88.9 90.4
17 Other 767.1 757.2 755.6 750.7
18 Consumer 253.8 250.9 252.3 241.9
19 Security (3) 75.1 78.0 93.6 69.4
20 Federal funds sold to
and repurchase
agreements with
broker--dealers 59.6 63.5 66.3 56.5
21 Other 15.5 14.5 27.3 12.8
22 State and local
government 14.2 14.1 14.3 14.5
23 Agricultural 10.0 9.4 9.2 9.1
24 Federal funds sold to
and repurchase
agreements with
others 30.8 31.8 32.5 28.6
25 All other loans 81.5 75.5 105.6 81.4
26 Lease-financing
receivables 131.7 131.0 131.5 146.2
27 Interbank loans 135.8 150.1 207.9 187.8
28 Federal funds sold to and
repurchase agreements
with commercial banks 70.9 79.6 132.1 106.1
29 Other 64.9 70.4 75.8 81.7
30 Cash assets (4) 146.2 140.1 173.7 151.4
31 Other assets (5) 267.8 277.1 302.6 320.9
32 Total assets (6) 3,134.3 3,151.9 3,332.3 3,247.7
Liabilities
33 Deposits 1,748.8 1,751.2 1,855.9 1,789.1
34 Transaction 306.0 303.6 374.7 322.2
35 Nontransaction 1,442.8 1,447.5 1,481.2 1,466.9
36 Large time 271.1 264.4 264.3 259.5
37 Other 1,171.7 1,183.1 1,216.9 1,207.4
38 Borrowings 667.7 673.3 704.6 688.1
39 From banks in the U.S. 218.8 226.4 257.2 232.3
40 From others 449.0 446.9 447.4 455.7
41 Net due to related foreign
offices 192.4 190.2 177.6 183.5
42 Other liabilities 205.4 215.7 263.8 239.8
43 Total liabilities 2,814.4 2,830.4 3,001.9 2,900.4
44 Residual (assets less
liabilities) (7) 319.9 321.5 330.4 347.3
Not seasonally adjusted
Assets
45 Bank credit 2,606.3 2,608.6 2,676.5 2,630.0
46 Securities in bank credit 600.8 624.8 638.3 648.6
47 US government securities 349.4 357.1 361.3 363.1
48 Trading account 37.9 35.9 37.6 35.4
49 Investment account 311.5 321.2 323.7 327.7
50 Mortgage-backed
securities 230.7 243.7 249.2 259.5
51 Other 80.9 77.5 74.4 68.2
52 One year or less 21.0 20.0 20.0 18.3
53 One to five years 34.2 33.7 34.4 32.6
54 More than five
years 25.8 23.9 20.0 17.3
55 Other securities 251.4 267.7 277.0 285.5
56 Trading account 138.1 151.9 160.5 167.0
57 Investment account 113.4 115.8 116.5 118.5
58 State and local
government 27.3 27.3 27.4 27.0
59 Other 86.1 88.5 89.1 91.5
60 Loans and leases in bank
credit (2) 2,005.4 1,983.8 2,038.2 1,981.4
61 Commercial and
industrial 561.7 553.4 559.3 545.9
62 Bankers acceptances n.a. n.a. n.a. n.a.
63 Other 561.7 553.4 559.3 545.9
64 Real estate 852.4 845.9 846.3 843.7
65 Revolving home equity 87.4 88.4 90.0 91.3
66 Other 465.5 458.5 457.6 455.1
67 Commercial 299.5 299.0 298.7 297.3
68 Consumer 252.1 249.7 251.1 239.5
69 Credit cards and
related plans 87.3 85.1 84.6 75.7
70 Other 164.8 164.6 166.5 163.8
71 Security (3) 70.4 73.5 88.6 72.5
72 Federal funds sold to
and repurchase
agreements with
broker--dealers 55.9 59.8 62.8 59.0
73 Other 14.5 13.7 25.8 13.4
74 State and local
government 14.2 14.1 14.3 14.5
75 Agricultural 10.1 9.6 9.3 9.2
76 Federal funds sold to
and repurchase
agreements with
others 30.8 31.8 32.5 28.6
77 All other loans 82.4 75.6 106.8 81.6
78 Lease-financing
receivables 131.2 130.2 130.1 146.0
79 Interbank loans 135.6 144.5 200.1 180.1
80 Federal funds sold to and
repurchase agreements
with commercial banks 70.8 76.7 127.1 101.7
81 Other 64.8 67.8 73.0 78.4
82 Cash assets (4) 139.8 132.3 169.4 150.4
83 Other assets (5) 267.1 274.4 302.9 317.0
84 Total assets (6) 3,110.9 3,121.6 3,310.5 3,238.4
Liabilities
85 Deposits 1,740.6 1,735.2 1,844.7 1,782.5
86 Transaction 301.1 292.5 368.3 316.5
87 Nontransaction 1,439.5 1,442.7 1,476.4 1,466.0
88 Large time 267.5 262.7 261.3 260.9
89 Other 1,172.0 1,180.0 1,215.1 1,205.2
90 Borrowings 658.5 651.7 699.2 685.7
91 From banks in the U.S. 215.5 218.1 247.4 227.1
92 From nonbanks in the U.S. 443.0 433.6 451.8 458.6
93 Net due to related foreign
offices 189.2 190.6 177.0 183.7
94 Other liabilities 202.3 216.1 263.1 239.7
95 Total liabilities 2,790.7 2,793.7 2,984.0 2,891.7
96 Residual (assets less
liabilities) (7) 320.2 327.9 326.5 346.8
Wednesday figures
2001
Account Oct. 10 Oct. 17 Oct. 24 Oct. 31
Seasonally adjusted
Assets
1 Bank credit 2,632.3 2,622.7 2,608.9 2,642.4
2 Securities in bank credit 642.7 639.1 637.9 672.1
3 U.S. government
securities 366.7 357.9 355.2 381.1
4 Trading account 33.9 35.6 35.5 38.4
5 Investment account 332.8 322.3 319.7 342.7
6 Other securities 276.0 281.2 282.7 291.0
7 Trading account 159.7 162.8 164.9 173.6
8 Investment account 116.3 118.4 117.8 117.4
9 State and local
government 26.7 26.8 26.7 26.7
10 Other 89.6 91.6 91.2 90.7
11 Loans and leases in bank
credit (2) 1,989.6 1,983.6 1,971.0 1,970.3
12 Commercial and
industrial 549.7 548.5 544.4 539.8
13 Bankers acceptances n.a. n.a. n.a. n.a.
14 Other 549.7 548.5 544.4 539.8
15 Real estate 844.4 842.1 836.3 844.4
16 Revolving home equity 89.9 90.1 90.7 91.4
17 Other 754.5 752.0 745.6 753.1
18 Consumer 241.7 241.3 240.7 240.1
19 Security (3) 73.5 69.2 69.4 63.7
20 Federal funds sold to
and repurchase
agreements with
broker--dealers 60.5 57.0 56.9 51.6
21 Other 12.9 12.2 12.6 12.1
22 State and local
government 14.2 14.3 14.9 14.9
23 Agricultural 9.1 9.1 9.1 9.2
24 Federal funds sold to
and repurchase
agreements with
others 28.1 29.4 26.7 31.1
25 All other loans 80.9 81.8 81.6 79.6
26 Lease-financing
receivables 148.2 147.9 147.8 147.5
27 Interbank loans 185.8 189.9 193.6 184.6
28 Federal funds sold to and
repurchase agreements
with commercial banks 105.3 108.2 109.4 99.0
29 Other 80.5 81.7 84.2 85.6
30 Cash assets (4) 167.5 129.7 145.9 162.3
31 Other assets (5) 308.8 317.1 335.3 320.8
32 Total assets (6) 3,254.9 3,219.8 3,244.2 3,271.2
Liabilities
33 Deposits 1,805.2 1,771.4 1,782.7 1,791.8
34 Transaction 328.1 308.5 329.4 326.6
35 Nontransaction 1,477.1 1,463.0 1,453.3 1,465.2
36 Large time 264.8 257.7 256.4 256.2
37 Other 1,212.3 1,205.3 1,196.9 1,209.0
38 Borrowings 682.3 688.2 687.5 694.8
39 From banks in the U.S. 234.2 236.7 228.6 228.4
40 From others 448.1 451.6 458.9 466.3
41 Net due to related foreign
offices 184.4 177.7 177.0 199.0
42 Other liabilities 240.4 232.2 240.0 237.4
43 Total liabilities 2,912.2 2,869.6 2,887.1 2,923.0
44 Residual (assets less
liabilities) (7) 342.7 350.2 357.1 348.2
Not seasonally adjusted
Assets
45 Bank credit 2,629.7 2,627.1 2,607.5 2,655.4
46 Securities in bank credit 641.2 637.6 637.2 677.1
47 US government securities 362.8 354.5 351.7 381.9
48 Trading account 33.5 35.3 35.2 38.5
49 Investment account 329.2 319.2 316.5 343.4
50 Mortgage-backed
securities 261.4 254.3 250.3 271.4
51 Other 67.8 64.9 66.2 72.0
52 One year or less 16.2 16.2 17.3 23.6
53 One to five years 33.7 31.3 32.0 32.0
54 More than five
years 18.0 17.5 16.8 16.4
55 Other securities 278.5 283.2 285.5 295.2
56 Trading account 161.1 163.9 166.5 176.1
57 Investment account 117.3 119.2 119.0 119.1
58 State and local
government 27.0 27.0 26.9 27.1
59 Other 90.4 92.2 92.1 92.0
60 Loans and leases in bank
credit (2) 1,988.5 1,989.5 1,970.3 1,978.3
61 Commercial and
industrial 548.9 548.4 542.3 540.5
62 Bankers acceptances n.a. n.a. n.a. n.a.
63 Other 548.9 548.4 542.3 540.5
64 Real estate 847.3 845.1 837.7 847.6
65 Revolving home equity 90.8 91.1 91.5 92.2
66 Other 459.0 456.2 449.3 458.4
67 Commercial 297.5 297.7 296.9 297.0
68 Consumer 238.9 238.7 238.3 238.1
69 Credit cards and
related plans 75.3 75.4 74.9 74.2
70 Other 163.6 163.3 163.4 163.8
71 Security (3) 73.3 73.7 74.1 69.1
72 Federal funds sold to
and repurchase
agreements with
broker--dealers 60.4 60.7 60.7 56.0
73 Other 12.9 13.0 13.4 13.1
74 State and local
government 14.2 14.3 14.9 14.9
75 Agricultural 9.2 9.2 9.2 9.2
76 Federal funds sold to
and repurchase
agreements with
others 28.1 29.4 26.7 31.1
77 All other loans 80.6 83.1 79.8 80.5
78 Lease-financing
receivables 147.9 147.7 147.4 147.4
79 Interbank loans 174.5 181.9 180.2 185.6
80 Federal funds sold to and
repurchase agreements
with commercial banks 98.9 103.6 101.9 99.6
81 Other 75.6 78.3 78.3 86.0
82 Cash assets (4) 167.3 140.0 133.3 163.1
83 Other assets (5) 306.7 312.9 323.6 319.8
84 Total assets (6) 3,238.9 3,222.4 3,205.4 3,285.1
Liabilities
85 Deposits 1,804.4 1,775.9 1,751.1 1,790.7
86 Transaction 322.9 312.2 306.4 326.1
87 Nontransaction 1,481.5 1,463.7 1,444.7 1,464.7
88 Large time 265.5 258.7 258.5 259.7
89 Other 1,216.0 1,205.0 1,186.2 1,205.0
90 Borrowings 675.4 687.7 680.8 699.9
91 From banks in the U.S. 227.9 232.0 221.9 226.5
92 From nonbanks in the U.S. 447.5 455.7 458.9 473.4
93 Net due to related foreign
offices 180.5 176.6 180.6 202.8
94 Other liabilities 235.7 230.5 243.5 241.5
95 Total liabilities 2,895.9 2,870.8 2,856.1 2,934.9
96 Residual (assets less
liabilities) (7) 343.0 351.7 349.4 350.2
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Account Oct. Apr. May
Seasonally adjusted
Assets
1 Bank credit 2,003.0 (r) 2,067.7 (r) 2,080.7 (r)
2 Securities in bank
credit 532.0 540.9 544.7
3 U.S. government
securities 362.8 (r) 342.0 (r) 342.6 (r)
4 Other securities 169.3 (r) 198.9 (r) 202.2 (r)
5 Loans and leases in
bank credit (2) 1,470.9 (r) 1,526.9 (r) 1,535.9 (r)
6 Commercial and
industrial 283.3 294.6 (r) 295.0 (r)
7 Real estate 797.4 825.5 (r) 830.6 (r)
8 Revolving home
equity 44.9 47.8 48.5
9 Other 752.5 777.8 (r) 782.1 (r)
10 Consumer 291.9 298.6 300.4
11 Security (3) 6.7 8.4 8.5
12 Other loans and
leases 91.5 (r) 99.8 (r) 101.5 (r)
13 Interbank loans 80.6 (r) 114.3 (r) 119.4 (r)
14 Cash assets (4) 99.1 103.9 104.7
15 Other assets (5) 92.5 107.1 105.3
16 Total assets (6) 2,249.1 2,365.6 2,382.4
Liabilities
17 Deposits 1,736.3 1,857.1 1,866.7 (r)
18 Transaction 293.8 295.0 298.1
19 Nontransaction 1,442.5 1,562.1 1,568.7
20 Large time 285.7 301.6 299.8
21 Other 1,156.8 1,260.5 1,268.9
22 Borrowings 324.1 332.3 335.6
23 From banks in the
U.S. 154.3 148.8 150.0
24 From others 169.7 183.6 (r) 185.6
25 Net due to related
foreign offices 23.4 12.8 16.6
26 Other liabilities 48.8 53.6 55.2
27 Total liabilities 2,132.6 2,255.8 2,274.1
28 Residual (assets less
liabilities) (7) 116.4 (r) 109.8 108.3
Not seasonally adjusted
Assets
29 Bank credit 2,004.3 (r) 2,067.5 (r) 2,081.2 (r)
30 Securities in bank
credit 529.6 543.5 546.3
31 U.S. government
securities 360.3 (r) 344.6 (r) 344.1 (r)
32 Other securities 169.3 (r) 198.9 (r) 202.2 (r)
33 Loans and leases in
bank credit (2) 1,474.7 (r) 1,523.9 (r) 1,534.9 (r)
34 Commercial and
industrial 282.9 296.7 (r) 297.6 (r)
35 Real estate 798.3 825.2 (r) 831.4 (r)
36 Revolving home
equity 45.1 47.7 48.6
37 Other 753.2 777.5 (r) 782.8 (r)
38 Consumer 293.9 294.8 297.7
39 Credit cards and
related plans 128.2 129.2 131.8
40 Other 165.7 165.6 165.9
41 Security (3) 6.8 8.5 8.1
42 Other loans and
leases 92.7 (r) 98.7 (r) 100.1 (r)
43 Interbank loans 81.7 (r) 118.2 (r) 110.5 (r)
44 Cash assets (4) 99.7 100.4 103.2
45 Other assets (5) 92.5 107.1 105.3
46 Total assets (6) 2,252.1 2,365.8 2,372.5
Liabilities
47 Deposits 1,737.2 1,864.4 1,860.3
48 Transaction 293.2 294.5 292.9
49 Nontransaction 1,444.0 1,569.9 1,567.4
50 Large time 285.7 301.6 299.8
51 Other 1,158.4 1,268.2 (r) 1,267.6
52 Borrowings 324.1 332.3 335.6
53 From banks in the
U.S. 154.3 148.8 150.0
54 From others 169.7 183.6 (r) 185.6
55 Net due to related
foreign offices 23.4 12.8 16.6
56 Other liabilities 48.8 53.6 55.2
57 Total liabilities 2,133.6 2,263.1 2,267.7
58 Residual (assets less
liabilities) (7) 118.5 102.7 104.8
Monthly averages
2001
June July Aug.
Account (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 2,088.1 2,103.2 2,117.0
2 Securities in bank
credit 549.4 556.6 566.3
3 U.S. government
securities 345.4 353.1 358.9
4 Other securities 204.0 203.5 207.4
5 Loans and leases in
bank credit (2) 1,538.8 1,546.6 1,550.7
6 Commercial and
industrial 297.2 301.0 300.3
7 Real estate 835.2 842.3 846.4
8 Revolving home
equity 49.4 50.8 52.0
9 Other 785.7 791.5 794.4
10 Consumer 296.9 294.7 295.1
11 Security (3) 8.3 8.4 8.5
12 Other loans and
leases 101.2 100.3 100.3
13 Interbank loans 115.2 115.8 117.6
14 Cash assets (4) 103.2 105.1 105.1
15 Other assets (5) 110.0 119.6 122.5
16 Total assets (6) 2,388.8 2,415.8 2,434.0
Liabilities
17 Deposits 1,885.9 1,904.0 1,919.0
18 Transaction 291.5 290.4 297.1
19 Nontransaction 1,594.4 1,613.7 1,622.0
20 Large time 298.1 300.8 304.6
21 Other 1,296.3 1,312.8 1,317.4
22 Borrowings 333.5 335.8 339.1
23 From banks in the
U.S. 148.2 148.3 149.6
24 From others 185.3 187.6 189.5
25 Net due to related
foreign offices 13.1 14.7 15.5
26 Other liabilities 56.3 58.6 59.3
27 Total liabilities 2,889.0 2,313.2 2,332.9
28 Residual (assets less
liabilities) (7) 99.9 102.6 101.1
Not seasonally adjusted
Assets
29 Bank credit 2,090.0 2,103.3 2,120.2
30 Securities in bank
credit 551.0 556.4 565.6
31 U.S. government
securities 347.0 352.9 358.2
32 Other securities 204.0 203.5 207.4
33 Loans and leases in
bank credit (2) 1,539.0 1,546.9 1,554.6
34 Commercial and
industrial 299.1 300.8 298.7
35 Real estate 835.9 842.8 848.2
36 Revolving home
equity 49.4 50.5 51.8
37 Other 786.5 792.3 796.4
38 Consumer 294.7 293.9 297.4
39 Credit cards and
related plans 128.9 128.6 131.4
40 Other 165.8 165.3 165.9
41 Security (3) 8.1 8.2 8.3
42 Other loans and
leases 101.3 101.2 102.1
43 Interbank loans 108.6 108.2 111.7
44 Cash assets (4) 102.0 103.8 102.3
45 Other assets (5) 110.0 119.6 122.5
46 Total assets (6) 2,382.9 2,407.1 2,428.6
Liabilities
47 Deposits 1,874.5 1,890.8 1,906.2
48 Transaction 291.2 288.8 294.3
49 Nontransaction 1,583.4 1,602.0 1,611.9
50 Large time 298.1 300.8 304.6
51 Other 1,285.3 1,301.2 1,307.3
52 Borrowings 333.5 335.8 339.1
53 From banks in the
U.S. 148.2 148.3 149.6
54 From others 185.3 187.6 189.5
55 Net due to related
foreign offices 13.1 14.7 15.5
56 Other liabilities 56.3 58.6 59.3
57 Total liabilities 2,277.5 2,300.0 2,320.1
58 Residual (assets less
liabilities) (7) 105.4 107.1 108.5
Wed-
nesday
Monthly averages figures
2001 2001
Sept.
Account (r) Oct. Oct. 10
Seasonally adjusted
Assets
1 Bank credit 2,127.1 2,170.4 2,166.9
2 Securities in bank
credit 573.4 589.5 588.2
3 U.S. government
securities 363.1 375.8 374.1
4 Other securities 210.3 213.7 214.2
5 Loans and leases in
bank credit (2) 1,553.7 1,580.9 1,578.7
6 Commercial and
industrial 299.4 300.2 301.7
7 Real estate 851.8 867.1 866.7
8 Revolving home
equity 53.0 55.1 54.7
9 Other 798.8 812.0 811.9
10 Consumer 293.6 306.9 303.1
11 Security (3) 8.8 7.9 8.0
12 Other loans and
leases 100.2 99.0 99.3
13 Interbank loans 122.3 104.6 103.8
14 Cash assets (4) 107.7 107.3 111.7
15 Other assets (5) 130.6 132.1 136.5
16 Total assets (6) 2,459.3 2,485.6 2,490.2
Liabilities
17 Deposits 1,936.2 1,943.4 1,945.6
18 Transaction 301.0 303.4 293.2
19 Nontransaction 1,635.1 1,640.0 1,652.3
20 Large time 304.2 306.8 307.1
21 Other 1,331.0 1,333.1 1,345.3
22 Borrowings 348.0 356.3 357.1
23 From banks in the
U.S. 153.5 163.4 161.1
24 From others 194.5 192.9 196.0
25 Net due to related
foreign offices 10.5 9.5 9.5
26 Other liabilities 60.7 62.2 62.1
27 Total liabilities 2,355.4 2,371.4 2,374.2
28 Residual (assets less
liabilities) (7) 103.9 114.2 116.0
Not seasonally adjusted
Assets
29 Bank credit 2,132.6 2,172.2 2,168.0
30 Securities in bank
credit 573.2 587.1 586.1
31 U.S. government
securities 363.0 373.4 371.9
32 Other securities 210.3 213.7 214.2
33 Loans and leases in
bank credit (2) 1,559.4 1,585.2 1,582.0
34 Commercial and
industrial 297.9 299.8 301.0
35 Real estate 853.5 868.2 867.4
36 Revolving home
equity 53.2 55.3 54.9
37 Other 800.3 812.8 812.5
38 Consumer 297.1 309.0 304.4
39 Credit cards and
related plans 130.7 140.7 135.5
40 Other 166.4 168.4 168.9
41 Security (3) 8.7 7.9 8.1
42 Other loans and
leases 102.2 100.2 101.1
43 Interbank loans 118.3 105.7 107.0
44 Cash assets (4) 108.4 108.0 115.0
45 Other assets (5) 130.6 132.1 136.5
46 Total assets (6) 2,461.6 2,489.2 2,497.9
Liabilities
47 Deposits 1,929.9 1,944.8 1,953.6
48 Transaction 301.0 303.1 296.2
49 Nontransaction 1,628.9 1,641.7 1,657.4
50 Large time 304.2 306.8 307.1
51 Other 1,324.8 1,334.9 1,350.3
52 Borrowings 348.0 356.3 357.1
53 From banks in the
U.S. 153.5 163.4 161.1
54 From others 194.5 192.9 196.0
55 Net due to related
foreign offices 10.5 9.5 9.5
56 Other liabilities 60.7 62.2 62.1
57 Total liabilities 2,349.1 2,372.8 2,382.3
58 Residual (assets less
liabilities) (7) 112.4 116.5 115.6
Wednesday figures
2001
Account Oct. 17 Oct. 24 Oct. 31
Seasonally adjusted
Assets
1 Bank credit 2,171.5 2,179.2 2,177.7
2 Securities in bank
credit 589.8 593.4 591.0
3 U.S. government
securities 375.1 379.2 377.9
4 Other securities 214.7 214.1 213.1
5 Loans and leases in
bank credit (2) 1,581.8 1,585.8 1,586.7
6 Commercial and
industrial 300.1 299.7 299.4
7 Real estate 866.7 868.9 869.9
8 Revolving home
equity 55.2 55.5 55.4
9 Other 811.5 813.4 814.5
10 Consumer 308.5 310.2 310.5
11 Security (3) 7.8 7.7 7.9
12 Other loans and
leases 98.6 99.3 99.1
13 Interbank loans 103.9 104.7 104.2
14 Cash assets (4) 101.9 106.5 108.2
15 Other assets (5) 131.6 128.3 131.0
16 Total assets (6) 2,480.1 2,489.7 2,492.2
Liabilities
17 Deposits 1,936.1 1,941.5 1,953.1
18 Transaction 293.4 312.6 318.8
19 Nontransaction 1,642.7 1,628.9 1,634.3
20 Large time 306.6 306.4 307.9
21 Other 1,336.1 1,322.5 1,326.4
22 Borrowings 357.4 358.4 356.4
23 From banks in the
U.S. 164.3 165.1 168.0
24 From others 193.1 193.3 188.3
25 Net due to related
foreign offices 9.3 9.8 9.0
26 Other liabilities 62.5 62.9 62.4
27 Total liabilities 2,365.3 2,372.6 2,380.8
28 Residual (assets less
liabilities) (7) 114.8 117.1 111.3
Not seasonally adjusted
Assets
29 Bank credit 2,174.1 2,180.5 2,180.2
30 Securities in bank
credit 587.1 590.8 588.8
31 U.S. government
securities 372.4 376.6 375.7
32 Other securities 214.7 214.1 213.1
33 Loans and leases in
bank credit (2) 1,587.0 1,589.7 1,591.4
34 Commercial and
industrial 300.1 299.6 299.1
35 Real estate 868.0 870.1 871.2
36 Revolving home
equity 55.5 55.8 55.8
37 Other 812.6 814.3 815.4
38 Consumer 310.8 313.1 313.0
39 Credit cards and
related plans 142.1 144.3 145.1
40 Other 168.7 168.8 167.8
41 Security (3) 7.9 7.6 8.1
42 Other loans and
leases 100.1 99.4 100.1
43 Interbank loans 105.6 101.3 107.5
44 Cash assets (4) 106.2 99.8 110.7
45 Other assets (5) 131.6 128.3 131.0
46 Total assets (6) 2,488.6 2,480.9 2,500.4
Liabilities
47 Deposits 1,942.4 1,930.2 1,956.2
48 Transaction 296.7 303.2 319.6
49 Nontransaction 1,645.7 1,627.0 1,636.5
50 Large time 306.6 306.4 307.9
51 Other 1,339.1 1,320.6 1,328.7
52 Borrowings 357.4 358.4 356.4
53 From banks in the
U.S. 164.3 165.1 168.0
54 From others 193.1 193.3 188.3
55 Net due to related
foreign offices 9.3 9.8 9.0
56 Other liabilities 62.5 62.9 62.4
57 Total liabilities 2,371.6 2,361.3 2,383.9
58 Residual (assets less
liabilities) (7) 116.9 119.6 116.5
E. Foreign-related institutions
Billions of dollars
Monthly averages
2000 2001
Account Oct. Apr. May
Seasonally adjusted
Assets
1 Bank credit 586.8 626.6 (r) 611.5
2 Securities in bank credit 202.0 221.0 214.6
3 U.S. government securities 69.7 74.4 69.7
4 Other securities 132.3 146.5 144.9
5 Loans and leases in bank
credit (2) 384.7 405.7 396.9 (r)
6 Commercial and industrial 203.5 218.8 (r) 217.9 (r)
7 Real estate 18.1 17.9 (r) 18.2 (r)
8 Security (3) 96.2 100.8 92.9
9 Other loans and leases 67.0 68.2 67.9
10 Interbank loans 27.2 27.7 29.5
11 Cash assets (4) 41.9 38.7 37.3
12 Other assets (5) 36.7 39.7 37.3
13 Total assets (6) 692.3 732.4 (r) 715.3
Liabilities
14 Deposits 383.7 394.3 408.5
15 Transaction 10.7 10.7 10.6
16 Nontransaction 373.0 383.6 397.9
17 Borrowings 220.6 240.2 219.1
18 From banks in the U.S. 19.1 25.3 20.3
19 From others 201.6 214.9 198.7
20 Net due to related foreign
offices 16.5 4.6 -4.3
21 Other liabilities 76.1 88.8 86.1
22 Total liabilities 696.9 727.9 709.3
23 Residual (assets less
liabilities) (7) -4.6 4.5 (r) 6.0
Not seasonally adjusted
Assets
24 Bank credit 590.8 623.7 (r) 606.7 (r)
25 Securities in bank credit 202.0 221.0 214.6
26 U.S. government securities 69.7 74.4 69.7
27 Trading account 12.0 14.8 13.8
28 Investment account 57.6 59.6 55.9
29 Other securities 132.3 146.5 144.9
30 Trading account 90.7 99.6 99.4
31 Investment account 41.7 47.0 45.6
32 Loans and leases in bank
credit (2) 388.8 402.8 392.2
33 Commercial and industrial 203.7 217.0 (r) 214.8 (r)
34 Real estate 18.1 17.9 (r) 18.2 (r)
35 Security (3) 100.4 99.4 92.1
36 Other loans and leases 66.6 68.4 67.1
37 Interbank loans 27.2 27.7 29.5
38 Cash assets (4) 42.7 37.2 36.4
39 Other assets (5) 36.2 38.8 36.7
40 Total assets (6) 696.6 727.1 (r) 709.1 (r)
Liabilities
41 Deposits 377.4 397.2 409.7
42 Transaction 10.8 10.2 10.2
43 Nontransaction 366.6 387.0 399.5
44 Borrowings 220.6 240.2 219.1
45 From banks in the U.S. 19.1 25.3 20.3
46 From others 201.6 214.9 198.7
47 Net due to related foreign
offices 16.8 -.1 -7.5
48 Other liabilities 76.2 86.7 84.6
49 Total liabilities 691.0 724.0 705.8
50 Residual (assets less
liabilities) (7) 5.6 3.1 (r) 3.3 (r)
Monthly averages
2001
Account June July Aug.
Seasonally adjusted
Assets
1 Bank credit 602.9 592.4 (r) 592.2
2 Securities in bank credit 216.0 216.5 219.5
3 U.S. government securities 68.1 67.1 66.8
4 Other securities 148.0 149.4 152.7
5 Loans and leases in bank
credit (2) 386.8 (r) 375.9 (r) 372.7
6 Commercial and industrial 210.7 (r) 205.7 (r) 204.5 (r)
7 Real estate 18.1 (r) 18.3 (r) 18.7 (r)
8 Security (3) 91.2 86.5 83.8
9 Other loans and leases 66.8 65.4 65.7
10 Interbank loans 21.9 21.3 20.4
11 Cash assets (4) 36.3 36.8 37.3
12 Other assets (5) 37.1 31.7 29.2
13 Total assets (6) 697.8 (r) 681.9 678.7
Liabilities
14 Deposits 418.7 412.5 403.3
15 Transaction 9.5 9.3 9.9
16 Nontransaction 409.2 403.2 393.4
17 Borrowings 215.8 210.7 210.3
18 From banks in the U.S. 22.5 22.3 20.9
19 From others 193.3 188.4 189.4
20 Net due to related foreign
offices -19.6 -16.2 -11.7
21 Other liabilities 84.6 79.5 78.6
22 Total liabilities 699.4 686.5 680.5
23 Residual (assets less
liabilities) (7) -1.5 -4.6 -1.8
Not seasonally adjusted
Assets
24 Bank credit 599.1 (r) 588.0 585.8
25 Securities in bank credit 216.0 216.5 219.5
26 U.S. government securities 68.1 67.1 66.8
27 Trading account 13.7 13.0 12.3
28 Investment account 54.4 54.1 54.5
29 Other securities 148.0 149.4 152.7
30 Trading account 105.7 108.0 110.9
31 Investment account 42.2 41.4 41.8
32 Loans and leases in bank
credit (2) 383.1 371.5 366.3
33 Commercial and industrial 209.6 (r) 205.0 (r) 203.2 (r)
34 Real estate 18.1 (r) 18.3 (r) 18.7 (r)
35 Security (3) 89.2 83.6 80.0
36 Other loans and leases 66.2 64.4 64.5
37 Interbank loans 21.9 21.3 20.4
38 Cash assets (4) 35.2 35.5 36.1
39 Other assets (5) 35.8 30.9 28.9
40 Total assets (6) 691.7 675.3 670.8 (r)
Liabilities
41 Deposits 411.6 402.3 391.6
42 Transaction 9.3 9.4 9.9
43 Nontransaction 402.2 392.9 381.7 (r)
44 Borrowings 215.8 210.7 210.3
45 From banks in the U.S. 22.5 22.3 20.9
46 From others 193.3 188.4 189.4
47 Net due to related foreign
offices -22.7 -19.4 -12.9
48 Other liabilities 83.1 78.1 78.1
49 Total liabilities 687.6 671.7 667.0
50 Residual (assets less
liabilities) (7) 4.1 3.6 3.9
Wed-
Monthly nesday
averages figures
2001 2001
Sept. Oct.
Account (r) Oct. 10
Seasonally adjusted
Assets
1 Bank credit 587.0 575.9 573.2
2 Securities in bank credit 220.5 218.8 216.4
3 U.S. government securities 69.8 72.1 69.2
4 Other securities 150.7 146.7 147.2
5 Loans and leases in bank
credit (2) 366.4 357.1 356.7
6 Commercial and industrial 204.6 201.9 201.0
7 Real estate 19.2 19.5 19.3
8 Security (3) 77.6 71.1 71.0
9 Other loans and leases 65.1 64.6 65.5
10 Interbank loans 26.2 24.3 23.0
11 Cash assets (4) 45.2 39.1 39.0
12 Other assets (5) 31.5 30.4 31.0
13 Total assets (6) 689.5 669.4 665.8
Liabilities
14 Deposits 403.2 413.7 411.6
15 Transaction 12.9 11.5 11.4
16 Nontransaction 390.3 402.1 400.2
17 Borrowings 221.1 204.2 200.9
18 From banks in the U.S. 31.0 23.7 21.8
19 From others 190.1 180.5 179.2
20 Net due to related foreign
offices -18.4 -18.7 -21.0
21 Other liabilities 80.7 76.3 76.9
22 Total liabilities 686.7 675.5 668.4
23 Residual (assets less
liabilities) (7) 2.8 -6.1 -2.6
Not seasonally adjusted
Assets
24 Bank credit 585.2 578.8 572.7
25 Securities in bank credit 220.5 218.8 216.4
26 U.S. government securities 69.8 72.1 69.2
27 Trading account 13.7 11.6 11.5
28 Investment account 56.2 60.5 57.8
29 Other securities 150.7 146.7 147.2
30 Trading account 109.7 105.8 106.9
31 Investment account 41.0 40.9 40.3
32 Loans and leases in bank
credit (2) 364.7 360.0 356.3
33 Commercial and industrial 204.2 202.1 200.5
34 Real estate 19.2 19.5 19.3
35 Security (3) 76.4 74.2 72.1
36 Other loans and leases 64.8 64.2 64.4
37 Interbank loans 26.2 24.3 23.0
38 Cash assets (4) 44.2 39.8 38.6
39 Other assets (5) 31.2 30.0 30.7
40 Total assets (6) 686.5 672.6 664.7
Liabilities
41 Deposits 395.3 406.4 402.5
42 Transaction 13.2 11.7 11.1
43 Nontransaction 382.1 394.7 391.5
44 Borrowings 221.1 204.2 200.9
45 From banks in the U.S. 31.0 23.7 21.8
46 From others 190.1 180.5 179.2
47 Net due to related foreign
offices -15.9 -18.4 -20.2
48 Other liabilities 81.9 76.4 77.3
49 Total liabilities 682.4 668.7 660.5
50 Residual (assets less
liabilities) (7) 4.1 3.8 4.1
Wednesday figures
2001
Oct. Oct. Oct.
Account 17 24 31
Seasonally adjusted
Assets
1 Bank credit 569.7 572.4 588.3
2 Securities in bank credit 214.4 218.2 224.9
3 U.S. government securities 69.6 73.0 76.7
4 Other securities 144.7 145.2 148.1
5 Loans and leases in bank
credit (2) 355.4 354.2 363.4
6 Commercial and industrial 201.9 201.7 203.4
7 Real estate 19.4 19.6 19.7
8 Security (3) 69.8 68.6 75.4
9 Other loans and leases 64.3 64.3 64.9
10 Interbank loans 30.8 22.3 22.2
11 Cash assets (4) 41.3 38.2 37.5
12 Other assets (5) 28.7 31.2 29.6
13 Total assets (6) 670.2 663.8 677.2
Liabilities
14 Deposits 417.7 413.6 414.1
15 Transaction 11.7 11.7 11.8
16 Nontransaction 406.0 401.9 402.3
17 Borrowings 199.7 198.2 215.6
18 From banks in the U.S. 24.9 20.7 25.2
19 From others 174.8 177.5 190.4
20 Net due to related foreign
offices -13.0 -14.4 -22.3
21 Other liabilities 73.6 76.9 75.8
22 Total liabilities 678.0 674.2 683.2
23 Residual (assets less
liabilities) (7) -7.8 -10.3 -6.0
Not seasonally
adjusted
Assets
24 Bank credit 573.3 574.9 594.9
25 Securities in bank credit 214.4 218.2 224.9
26 U.S. government securities 69.6 73.0 76.7
27 Trading account 11.5 11.2 11.0
28 Investment account 58.1 61.8 65.8
29 Other securities 144.7 145.2 148.1
30 Trading account 104.0 104.6 106.1
31 Investment account 40.7 40.7 42.1
32 Loans and leases in bank
credit (2) 358.9 356.7 370.1
33 Commercial and industrial 201.8 201.4 204.7
34 Real estate 19.4 19.6 19.7
35 Security (3) 73.7 72.1 80.8
36 Other loans and leases 64.1 63.7 64.9
37 Interbank loans 30.8 22.3 22.2
38 Cash assets (4) 42.0 39.2 39.3
39 Other assets (5) 28.4 30.5 29.1
40 Total assets (6) 674.2 666.6 685.2
Liabilities
41 Deposits 407.5 407.7 409.8
42 Transaction 12.0 11.7 12.3
43 Nontransaction 395.4 396.0 397.6
44 Borrowings 199.7 198.2 215.6
45 From banks in the U.S. 24.9 20.7 25.2
46 From others 174.8 177.5 190.4
47 Net due to related foreign
offices -11.3 -18.2 -20.3
48 Other liabilities 74.3 75.3 76.6
49 Total liabilities 670.3 662.9 681.7
50 Residual (assets less
liabilities) (7) 3.9 3.7 3.5
F. Memo items
Billions of dollars
Monthly averages
2000 2001
Account Oct. Apr. May
Not seasonally adjusted
MEMO
Large domestically chartered
banks, adjusted for mergers
1 Revaluation gains on
off-balance-sheet items (8) 71.0 79.9 82.0
2 Revaluation losses on
off-balance-sheet items (8) 72.8 74.9 74.7
3 Mortgage-backed securities (9) 245.1 259.1 266.0
4 Pass-through 177.2 195.3 200.8
5 CMO, REMIC, and other 67.9 63.8 65.2
6 Net unrealized gains (losses)
on available-for-sale
securities (10) -2.3 6.0 4.8
7 Off-shore credit to U.S.
residents (11) 22.3 21.7 21.0
8 Securitized consumer
loans (12) 77.5 (r) 81.9 (r) 80.3 (r)
9 Credit cards and related
plans 67.9 (r) 72.4 (r) 71.1 (r)
10 Other 9.6 9.5 9.2
11 Securitized business
loans (12) 12.0 (r) 14.2 (r) 14.2 (r)
Small domestically chartered
commercial banks, adjusted
for mergers
12 Mortgage-backed securities (9) 207.5 (r) 224.6 (r) 229.3 (r)
13 Securitized consumer
loans (12) 224.5 234.7 234.5
14 Credit cards and related
plans 215.2 226.1 226.1
15 Other 9.3 8.6 8.4
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 47.9 56.5 56.4
17 Revaluation losses on
off-balance-sheet items (8) 45.0 52.2 51.9
18 Securitized business
loans (12) 34.5 31.3 29.5
Monthly averages
2001
Account June July Aug.
Not seasonally adjusted
MEMO
Large domestically chartered
banks, adjusted for mergers
1 Revaluation gains on
off-balance-sheet items (8) 87.3 77.6 87.7
2 Revaluation losses on
off-balance-sheet items (8) 81.6 71.8 (r) 78.4
3 Mortgage-backed securities (9) 262.2 261.8 273.9
4 Pass-through 200.8 200.1 212.2
5 CMO, REMIC, and other 61.4 61.7 61.7
6 Net unrealized gains (losses)
on available-for-sale
securities (10) 3.6 3.1 5.3
7 Off-shore credit to U.S.
residents (11) 20.6 20.2 19.6
8 Securitized consumer
loans (12) 81.7 (r) 96.2 (r) 96.1 (r)
9 Credit cards and related
plans 72.8 (r) 86.1 85.6
10 Other 9.0 (r) 10.1 (r) 10.5 (r)
11 Securitized business
loans (12) 14.7 (r) 14.8 (r) 15.0 (r)
Small domestically chartered
commercial banks, adjusted
for mergers
12 Mortgage-backed securities (9) 232.9 (r) 239.6 (r) 243.9 (r)
13 Securitized consumer
loans (12) 237.8 (r) 227.8 (r) 230.8 (r)
14 Credit cards and related
plans 229.3 (r) 219.5 (r) 222.5 (r)
15 Other 8.5 8.3 8.3
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 57.3 54.9 57.3
17 Revaluation losses on
off-balance-sheet items (8) 52.1 49.8 52.1
18 Securitized business
loans (12) 28.3 27.1 26.6
Wed-
Monthly nesday
averages figures
2001 2001
Sept. Oct.
Account (r) Oct. 10
Not seasonally adjusted
MEMO
Large domestically chartered
banks, adjusted for mergers
1 Revaluation gains on
off-balance-sheet items (8) 95.8 98.1 92.6
2 Revaluation losses on
off-balance-sheet items (8) 84.8 85.6 80.3
3 Mortgage-backed securities (9) 279.7 289.2 290.6
4 Pass-through 218.1 222.2 227.2
5 CMO, REMIC, and other 61.6 67.1 63.3
6 Net unrealized gains (losses)
on available-for-sale
securities (10) 7.3 9.6 9.4
7 Off-shore credit to U.S.
residents (11) 20.1 19.6 19.6
8 Securitized consumer
loans (12) 97.1 98.1 97.7
9 Credit cards and related
plans 86.8 87.8 87.4
10 Other 10.3 10.3 10.4
11 Securitized business
loans (12) 15.1 15.4 15.5
Small domestically chartered
commercial banks, adjusted
for mergers
12 Mortgage-backed securities (9) 249.1 255.4 253.5
13 Securitized consumer
loans (12) 234.0 236.1 239.0
14 Credit cards and related
plans 225.7 228.1 230.4
15 Other 8.3 8.0 8.5
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 56.5 54.8 55.4
17 Revaluation losses on
off-balance-sheet items (8) 51.5 50.4 51.0
18 Securitized business
loans (12) 26.5 26.6 26.5
Wednesday figures
2001
Oct. Oct. Oct.
Account 17 24 31
Not seasonally
adjusted
MEMO
Large domestically chartered
banks, adjusted for mergers
1 Revaluation gains on
off-balance-sheet items (8) 94.1 97.3 106.6
2 Revaluation losses on
off-balance-sheet items (8) 81.1 84.3 93.5
3 Mortgage-backed securities (9) 283.4 281.1 301.6
4 Pass-through 221.0 218.8 219.6
5 CMO, REMIC, and other 62.4 62.3 82.0
6 Net unrealized gains (losses)
on available-for-sale
securities (10) 9.1 9.1 10.3
7 Off-shore credit to U.S.
residents (11) 19.5 20.1 19.4
8 Securitized consumer
loans (12) 97.5 98.2 99.0
9 Credit cards and related
plans 87.2 88.0 88.8
10 Other 10.3 10.2 10.2
11 Securitized business
loans (12) 15.4 15.3 15.4
Small domestically chartered
commercial banks, adjusted
for mergers
12 Mortgage-backed securities (9) 253.7 257.3 258.7
13 Securitized consumer
loans (12) 234.1 234.0 235.9
14 Credit cards and related
plans 226.7 226.7 227.5
15 Other 7.3 7.3 8.4
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 53.0 53.9 55.9
17 Revaluation losses on
off-balance-sheet items (8) 49.0 49.8 50.9
18 Securitized business
loans (12) 27.0 26.8 26.4
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect changes
in the Board's H.8 statistical release, "Assets and Liabilities of
Commercial Banks in the United States." Table 1.27, "Assets and
Liabilities of Large Weekly Reporting Commercial Banks," and table
1.28, "Large Weekly Reporting U.S. Branches and Agencies of Foreign
Banks," are no longer being published in the Bulletin. Instead,
abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data
are both merger-adjusted and break-adjusted. In addition, data from
large weekly reporting U.S. branches and agencies of foreign banks have
been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are
break-adjusted.
The not-seasonally-adjusted data for all tables now contain additional
balance sheet items, which were available as of October 2, 1996.
(1.) Covers the following types of institutions in the fifty states and
the District of Columbia: domestically chartered commercial banks that
submit a weekly report of condition (large domestic); other
domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and agreement corporations
(foreign-related institutions). Excludes International Banking
Facilities. Data are Wednesday values or pro rata averages of Wednesday
values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on
weekly samples and on quarter-end condition reports. Data are adjusted
for breaks caused by reclassifications of assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19 are
adjusted to remove the estimated effects of mergers between these two
groups. The adjustment for mergers changes past levels to make them
comparable with current levels. Estimated quantities of balance sheet
items acquired in mergers are removed from past data for the bank group
that contained the acquired bank and put into past data for the group
containing the acquiring bank. Balance sheet data for acquired banks
are obtained from Call Reports, and a ratio procedure is used to adjust
past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans made
to commercial banks in the United States, all of which are included in
"Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection, balances
due from depository institutions, and balances due from Federal Reserve
Banks.
(5.) Excludes the due-from position with related foreign offices, which
is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and leases,
and reserves for transfer risk. Loans are reported gross of these
items.
(7.) This balancing item is not intended as a measure of equity capital
for use in capital adequacy analysis. On a seasonally adjusted basis,
this item reflects any differences in the seasonal patterns estimated
for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data are
reported net of tax effects. Data shown are restated to include an
estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER AND BANKERS DOLLAR ACCEPTANCES OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1996 1997 1998 1999
1 All issuers 775,371 966,699 1,163,303 1,403,023
Financial
companies (1)
2 Dealer-placed
paper, total (2) 361,147 513,307 614,142 786,643
3 Directly placed
paper, total (3) 229,662 252,536 322,030 337,240
4 Nonfinancial
companies (4) 184,563 200,857 227,132 279,140
Year
ending
December 2001
Item 2000 Apr. May June
1 All issuers 1,615,341 1,519,528 1,501,113 1,468,919
Financial
companies (1)
2 Dealer-placed
paper, total (2) 973,060 995,072 986,369 982,216
3 Directly placed
paper, total (3) 298,848 247,333 245,768 244,520
4 Nonfinancial
companies (4) 343,433 277,123 268,976 242,183
2001
Item July Aug. Sept.
1 All issuers 1,453,770 1,434,238 1,423,004
Financial
companies (1)
2 Dealer-placed
paper, total (2) 958,911 957,792 950,346
3 Directly placed
paper, total (3) 265,824 248,974 255,122
4 Nonfinancial
companies (4) 229,035 227,473 217,537
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal and mortgage financing; factoring,
finance leasing, and other business lending; insurance underwriting;
and other investment activities.
(2.) Includes all financial-company paper sold by dealers in the open
market.
(3.) As reported by financial companies that place their paper directly
with investors.
(4.) Includes public utilities and firms engaged primarily in such
activities as communications, construction, manufacturing, mining,
wholesale and retail trade, transportation, and services.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
1998--Jan. 1 8.50
Sept. 30 8.25
Oct. 16 8.00
Nov. 18 7.75
1999--July 1 8.00
Aug. 25 8.25
Nov. 17 8.50
2000--Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Nov. 7 5.00
Average
Period rate
1998 8.35
1999 8.00
2000 9.23
1998--Jan. 8.50
Feb. 8.50
Mar. 8.50
Apr. 8.50
May 8.50
June 8.50
July 8.50
Aug. 8.50
Sept. 8.49
Oct. 8.12
Nov. 7.89
Dec. 7.75
1999--Jan. 7.75
Feb. 7.75
Mar. 7.75
Apr. 7.75
May 7.75
June 7.75
July 8.00
Aug. 8.06
Sept. 8.25
Oct. 8.25
Nov. 8.37
Dec. 8.50
2000--Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
Nov. 5.10
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which a
new rate came to be the predominant one quoted by a majority of the
twenty-five largest banks by asset size, based on the most recent Call
Report. Data in this table also appear in the Board's H.15 (519) weekly
and G.13 (415) monthly statistical releases. For ordering address, see
inside front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of business day data
unless otherwise noted
2001
Item 1998 1999 2000 July
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 5.35 4.97 6.24 3.77
2 Discount window borrowing (2,4) 4.92 4.62 5.73 3.25
Commercial paper (3,5,6)
Non financial
3 1-month 5.40 5.09 6.27 3.71
4 2-month 5.38 5.14 6.29 3.63
5 3-month 5.34 5.18 6.31 3.59
Financial
6 1-month 5.42 5.11 6.28 3.73
7 2-month 5.40 5.16 6.30 3.66
8 3-month 5.37 5.22 6.33 3.62
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month 5.39 5.24 6.23 n.a.
13 6-month 5.30 5.30 6.37 n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 5.49 5.19 6.35 3.76
18 3-month 5.47 5.33 6.46 3.66
19 6-month 5.44 5.46 6.59 3.70
20 Eurodollar deposits,
3-month (3,11) 5.45 5.31 6.45 3.66
U.S. Treasury bills
Secondary market (3,5)
21 3-month 4.78 4.64 5.82 3.51
22 6-month 4.83 4.75 5.90 3.45
23 1-year 4.80 4.81 5.78 3.39
Auction high (3,5,12)
24 3-month 4.81 4.66 5.66 n.a.
25 6-month 4.85 4.76 5.85 n.a.
26 1-year 4.85 4.78 5.85 n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 5.05 5.08 6.11 3.62
28 2-year 5.13 5.43 6.26 4.04
29 3-year 5.14 5.49 6.22 4.31
30 5-year 5.15 5.55 6.16 4.76
31 7-year 5.28 5.79 6.20 5.06
32 10-year 5.26 5.65 6.03 5.24
33 20-year 5.72 6.20 6.23 5.75
34 30-year 5.58 5.87 5.94 5.61
Composite
35 More than 10 years (long-term) 5.69 6.14 6.41 n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.93 5.28 5.58 4.79
37 Baa 5.14 5.70 6.19 5.81
38 Bond Buyer series (15) 5.09 5.43 5.71 5.20
CORPORATE BONDS
39 Seasoned issues,
all industries (16) 6.87 7.45 7.98 7.51
Rating group
40 Aaa 6.53 7.05 7.62 7.13
41 Aa 6.80 7.36 7.83 7.27
42 A 6.93 7.53 8.11 7.65
43 Baa 7.22 7.88 8.36 7.97
MEMO
Dividend-price ratio (17)
44 Common stocks 1.49 1.25 1.15 1.30
2001,
week
2001 ending
Sept.
Item Aug. Sept. Oct. 28
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 3.65 3.07 2.49 2.99
2 Discount window borrowing (2,4) 3.16 2.77 2.02 2.50
Commercial paper (3,5,6)
Non financial
3 1-month 3.54 2.96 2.40 2.62
4 2-month 3.47 2.87 2.30 2.49
5 3-month 3.42 2.81 2.28 2.42
Financial
6 1-month 3.57 2.97 2.42 2.62
7 2-month 3.48 2.87 2.31 2.52
8 3-month 3.44 2.84 2.29 2.47
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month n.a. n.a. n.a. n.a.
13 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 3.59 2.99 2.43 2.61
18 3-month 3.48 2.87 2.31 2.52
19 6-month 3.49 2.84 2.26 2.48
20 Eurodollar deposits,
3-month (3,11) 3.47 2.85 2.31 2.50
U.S. Treasury bills
Secondary market (3,5)
21 3-month 3.36 2.64 2.16 2.34
22 6-month 3.29 2.63 2.12 2.29
23 1-year 3.26 n.a. n.a. n.a.
Auction high (3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 3.47 2.82 2.33 2.49
28 2-year 3.76 3.12 2.73 2.86
29 3-year 4.04 3.45 3.14 3.22
30 5-year 4.57 4.12 3.91 3.94
31 7-year 4.84 4.51 4.31 4.40
32 10-year 4.97 4.73 4.57 4.66
33 20-year 5.58 5.53 5.34 5.53
34 30-year 5.48 5.48 5.32 5.51
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.89 4.93 4.89 4.99
37 Baa 5.55 5.62 5.55 5.75
38 Bond Buyer series (15) 5.03 n.a. 5.05 5.14
CORPORATE BONDS
39 Seasoned issues,
all industries (16) 7.37 7.54 7.41 7.64
Rating group
40 Aaa 7.02 7.17 7.03 7.27
41 Aa 7.11 7.28 7.13 7.38
42 A 7.48 7.67 7.59 7.79
43 Baa 7.85 8.03 7.91 8.12
MEMO
Dividend-price ratio (17)
44 Common stocks 1.34 1.48 1.45 1.56
2001, week ending
Oct. Oct. Oct. Oct.
Item 5 12 19 26
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 2.71 2.44 2.44 2.49
2 Discount window borrowing (2,4) 2.36 2.00 2.00 2.00
Commercial paper (3,5,6)
Non financial
3 1-month 2.50 2.46 2.41 2.32
4 2-month 2.42 2.32 2.31 2.22
5 3-month 2.40 2.32 2.29 2.22
Financial
6 1-month 2.52 2.48 2.43 2.34
7 2-month 2.43 2.35 2.32 2.24
8 3-month 2.40 2.32 2.30 2.23
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month n.a. n.a. n.a. n.a.
13 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 2.55 2.50 2.44 2.34
18 3-month 2.46 2.37 2.32 2.22
19 6-month 2.38 2.31 2.28 2.20
20 Eurodollar deposits,
3-month (3,11) 2.46 2.37 2.32 2.22
U.S. Treasury bills
Secondary market (3,5)
21 3-month 2.21 2.20 2.17 2.13
22 6-month 2.20 2.17 2.15 2.08
23 1-year n.a. n.a. n.a. n.a.
Auction high (3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 2.40 2.39 2.37 2.31
28 2-year 2.76 2.80 2.78 2.72
29 3-year 3.14 3.22 3.18 3.15
30 5-year 3.88 3.99 3.94 3.94
31 7-year 4.30 4.39 4.34 4.33
32 10-year 4.53 4.65 4.60 4.60
33 20-year 5.35 5.43 5.37 5.33
34 30-year 5.33 5.40 5.35 5.32
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.88 4.89 4.89 4.90
37 Baa 5.51 5.55 5.55 5.58
38 Bond Buyer series (15) 5.03 5.05 5.05 5.05
CORPORATE BONDS
39 Seasoned issues,
all industries (16) 7.45 7.49 7.42 7.39
Rating group
40 Aaa 7.06 7.10 7.04 7.01
41 Aa 7.18 7.20 7.13 7.12
42 A 7.62 7.67 7.61 7.56
43 Baa 7.94 7.98 7.92 7.89
MEMO
Dividend-price ratio (17)
44 Common stocks 1.46 1.42 1.45 1.43
NOTE. Some of the data in this table also appear in the Board's H.15
(519) weekly and G.13 (415) monthly statistical releases. For ordering
address, see inside front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days, ending on
Wednesday of the current week; monthly figures include each calendar
day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) Rate for the Federal Reserve Bank of New York.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
(that is, the offer side). See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7.) An average of offering rates on commercial paper for firms whose
bond rating is AA or the equivalent. Series ended August 29, 1997.
(8.) An average of offering rates on paper directly placed by finance
companies. Series ended August 29, 1997.
(9.) Representative closing yields for acceptances of the highest-rated
money center banks.
(10.) An average of dealer offering rates on nationally traded
certificates of deposit.
(11.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(12.) Auction date for daily data; weekly and monthly averages computed
on an issue-date basis. On or after October 28, 1998, data are stop
yields from uniform-price auctions. Before that, they are weighted
average yields from multiple-price auctions.
(13.) Yields on actively traded issues adjusted to constant maturities.
SOURCE: U.S. Department of the Treasury.
(14.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(15.) State and local government general obligation bonds maturing in
twenty years are used in compiling this index. The twenty-bond index
has a rating roughly equivalent to Moodys' A1 rating. Based on Thursday
figures.
(16.) Daily figures from Moody's Investors Service. Based on yields to
maturity on selected long-term bonds.
(17.) Standard & Poor's corporate series. Common stock ratio is based
on the 500 stocks in the price index.
1.36 STOCK MARKET Selected Statistics
Indicator 1998 1999
Prices and trading
volume (averages
of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 550.65 619.52
2 Industrial 684.35 775.29
3 Transportation 468.61 491.62
4 Utility 190.52 284.82
5 Finance 516.65 530.97
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,085.50 1,327.33
7 American Stock Exchange
(Aug. 31, 1973 = 50) (2) 682.69 770.90
Volume of trading
(thousands of shares)
8 New York Stock Exchange 666,534 799,554
9 American Stock Exchange 28,870 32,629
Customer financing
(millions of dollars,
end-of-period balances)
10 Margin credit at broker-dealers (3) 140,980 228,530
Free credit balances at brokers (4)
11 Margin accounts (5) 40,250 55,130
12 Cash accounts 62,450 79,070
Margin requirements
(percent of market
value and effective
date) (6)
Mar. 11, 1968
13 Margin stocks 70
14 Convertible bonds 50
15 Short sales 70
2001
Indicator 2000 Feb.
Prices and trading
volume (averages
of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 643.71 648.05
2 Industrial 809.40 799.38
3 Transportation 414.73 482.26
4 Utility 478.99 424.53
5 Finance 552.48 626.41
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,427.22 1,305.75
7 American Stock Exchange
(Aug. 31, 1973 = 50) (2) 922.22 923.99
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,026,867 1,117,977
9 American Stock Exchange 51,437 70,648
Customer financing
(millions of dollars,
end-of-period balances)
10 Margin credit at broker-dealers (3) 198,790 186,810
Free credit balances at brokers (4)
11 Margin accounts (5) 100,680 99,390
12 Cash accounts 84,400 78,660
Margin requirements
(percent of market
value and effective
date) (6)
June 8, 1968
13 Margin stocks 80
14 Convertible bonds 60
15 Short sales 80
2001
Indicator Mar. Apr.
Prices and trading
volume (averages
of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 603.44 607.06
2 Industrial 744.21 747.48
3 Transportation 452.36 455.22
4 Utility 395.34 400.49
5 Finance 583.38 587.88
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,185.85 1,189.84
7 American Stock Exchange
(Aug. 31, 1973 = 50) (2) 891.22 891.18
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,251,569 1,247,382
9 American Stock Exchange 81,666 77,612
Customer financing
(millions of dollars,
end-of-period balances)
10 Margin credit at broker-dealers (3) 165,350 166,940
Free credit balances at brokers (4)
11 Margin accounts (5) 106,300 97,470
12 Cash accounts 77,520 77,460
Margin requirements
(percent of market
value and effective
date) (6)
May 6, 1970
13 Margin stocks 65
14 Convertible bonds 50
15 Short sales 65
2001
Indicator May June
Prices and trading
volume (averages
of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 644.44 630.86
2 Industrial 798.94 782.73
3 Transportation 477.21 458.60
4 Utility 414.69 382.98
5 Finance 618.74 622.17
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,270.37 1,238.71
7 American Stock Exchange
(Aug. 31, 1973 = 50) (2) 940.73 923.06
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,091,366 1,152,193
9 American Stock Exchange 66,103 65,395
Customer financing
(millions of dollars,
end-of-period balances)
10 Margin credit at broker-dealers (3) 174,180 170,000
Free credit balances at brokers (4)
11 Margin accounts (5) 91,990 98,430
12 Cash accounts 76,260 75,270
Margin requirements
(percent of market
value and effective
date) (6)
Dec. 6, 1971
13 Margin stocks 55
14 Convertible bonds 50
15 Short sales 55
2001
Indicator July Aug.
Prices and trading
volume (averages
of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 613.36 604.52
2 Industrial 756.04 748.65
3 Transportation 469.80 458.35
4 Utility 374.11 357.76
5 Finance 614.54 605.59
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,204.45 1,178.51
7 American Stock Exchange
(Aug. 31, 1973 = 50) (2) 892.74 883.01
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,120,074 1,012,907
9 American Stock Exchange 56,735 48,304
Customer financing
(millions of dollars,
end-of-period balances)
10 Margin credit at broker-dealers (3) 165,250 161,130
Free credit balances at brokers (4)
11 Margin accounts (5) 97,950 103,990
12 Cash accounts 73,490 73,710
Margin requirements
(percent of market
value and effective
date) (6)
Nov. 24, 1972
13 Margin stocks 65
14 Convertible bonds 50
15 Short sales 65
2001
Indicator Sept. Oct.
Prices and trading
volume (averages
of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 544.39 556.04
2 Industrial 672.89 688.35
3 Transportation 382.68 371.56
4 Utility 339.72 341.51
5 Finance 538.01 553.16
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,044.64 1,076.59
7 American Stock Exchange
(Aug. 31, 1973 = 50) (2) 823.78 825.91
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,666,980 1,293,019
9 American Stock Exchange 72,319 66,765
Customer financing
(millions of dollars,
end-of-period balances)
10 Margin credit at broker-dealers (3) 144,670 144,620
Free credit balances at brokers (4)
11 Margin accounts (5) 115,450 102,150
12 Cash accounts 74,220 68,570
Margin requirements
(percent of market
value and effective
date) (6)
Jan. 3, 1974
13 Margin stocks 50
14 Convertible bonds 50
15 Short sales 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit at
broker-dealers has included credit extended against stocks, convertible
bonds, stocks acquired through the exercise of subscription rights,
corporate bonds, and government securities. Separate reporting of data
for margin stocks, convertible bonds, and subscription issues was
discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board of
Governors pursuant to the Securities Exchange Act of 1934, limit the
amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the
difference between the market value (100 percent) and the maximum loan
value of collateral as prescribed by the Board. Regulation T was
adopted effective Oct. 15, 1934; Regulation U, effective May 1, 1936;
Regulation G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established
in Regulation T the initial margin required for writing options on
securities, setting it at 30 percent of the current market value of the
stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option
maintenance margin required by the appropriate exchange or
self-regulatory organization; such maintenance margin rules
must be approved by the Securities and Exchange Commission.
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Calendar
Fiscal year year
Type of
account or
operation 1999 2000 2001 May
U.S. budget
(1)
1 Receipts,
total 1,827,302 2,025,218 1,990,205 (r) 125,590
2 On-budget 1,382,986 1,544,634 1,482,686 (r) 84,759
3 Off-budget 444,468 480,584 507,519 40,831
4 Outlays, total 1,702,875 1,788,826 1,863,184 (r) 153,508
5 On-budget 1,382,097 1,458,061 1,516,346 (r) 118,517
6 Off-budget 320,778 330,765 346,838 34,992
7 Surplus or
deficit
(-), total 124,579 236,392 127,021 (r) -27,919
8 On-budget 889 86,573 -33,660 (r) -33,758
9 Off-budget 123,690 149,819 160,682 5,839
Source of
financing
(total)
10 Borrowing from
the public -88,674 -222,807 -90,118 -20,608
11 Operating cash
(decrease,
or increase
[-]) -17,580 3,799 8,440 58,856
12 Other (2) -18,325 -17,384 -45,343 (r) -10,329
MEMO
13 Treasury
operating
balance
(level,
end of
period) 56,458 52,659 44,219 6,274
14 Federal
Reserve
Banks 6,641 8,459 9,796 4,396
15 Tax and loan
accounts 49,817 44,199 34,423 1,878
Calendar year
2001
Type of
account or
operation June July Aug. Sept. Oct.
U.S. budget
(1)
1 Receipts,
total 202,887 127,842 122,559 158,496 (r) 157,163
2 On-budget 151,482 89,473 84,011 116,598 (r) 122,004
3 Off-budget 51,405 38,369 38,548 41,898 35,159
4 Outlays, total 171,025 125,022 202,549 123,250 (r) 166,548
5 On-budget 167,796 92,145 138,167 111,255 (r) 134,014
6 Off-budget 3,229 32,877 64,382 11,996 32,534
7 Surplus or
deficit
(-), total 31,862 2,820 -79,990 35,245 (r) -9,385
8 On-budget -16,314 -2,672 -54,156 5,343 (r) -12,010
9 Off-budget 48,176 5,492 -25,834 29,902 2,625
Source of
financing
(total)
10 Borrowing from
the public -1,212 -7,460 74,101 1,996 -3,695
11 Operating cash
(decrease,
or increase
[-]) -37,413 20,589 16,769 -37,890 16,612
12 Other (2) 6,763 -15,949 -10,880 649 (r) -3,532
MEMO
13 Treasury
operating
balance
(level,
end of
period) 43,687 23,098 6,329 44,219 27,607
14 Federal
Reserve
Banks 7,188 5,592 5,533 9,796 5,112
15 Tax and loan
accounts 36,498 17,506 795 34,423 22,495
(1.) Since 1990, off-budget items have been the social security trust
funds (Federal Old-Age, Survivors, and Disability Insurance) and the
U.S. Postal Service.
(2.) Includes special drawing rights (SDRs); reserve position on the
U.S. quota in the International Monetary Fund (IMF); loans to the IMF;
other cash and monetary assets; accrued interest payable to the public;
allocations of SDRs; deposit funds; miscellaneous liability (including
checks outstanding) and asset accounts; seigniorage; increment on gold;
net gain or loss for U.S. currency valuation adjustment; net gain or
loss for IMF loan-valuation adjustment; and profit on sale of gold.
SOURCE. Monthly totals; U.S. Department of the Treasury, Monthly
Treasury Statement of Receipts and Outlays of the U.S. Government; and
fiscal year totals: U.S. Office of Management and Budget, Budget of the
U.S. Government when available.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS (1)
Millions of dollars
Fiscal year Calendar year
1999 2000
Source
or type 2000 2001 H2 H1
RECEIPTS
1 All sources 2,025,218 1,990,205 (r) 892,266 1,089,763
2 Individual
income
taxes,
net 1,004,462 994,339 425,451 550,208
3 Withheld 780,397 793,386 372,012 388,526
4 Nonwith-
held 358,049 383,146 68,302 281,103
5 Refunds 134,046 182,251 14,841 119,477
Corporation
income
taxes
6 Gross
receipts 235,655 186,732 110,111 119,166
7 Refunds 28,367 35,657 13,996 13,781
8 Social insu-
rance
taxes
and
contri-
butions,
net 652,852 693,967 292,551 353,514
9 Employment
taxes
and
contri-
butions
(2) 620,451 661,442 280,059 333,584
10 Unemploy-
ment in-
surance 27,640 27,812 10,173 17,562
11 Other net
receipts
(3) 4,761 4,712 2,319 2,368
12 Excise taxes 68,865 66,232 34,262 33,532
13 Customs
deposits 19,914 19,616 10,287 9,218
14 Estate and
gift taxes 29,010 28,400 14,001 15,073
15 Miscella-
neous re-
ceipts (4) 42,826 36,576 19,569 22,831
OUTLAYS
16 All types 1,788,826 1,863,184 (r) 882,465 892,947
17 National
defense 294,494 304,486 149,573 143,476
18 Interna-
tional
affairs 17,216 16,522 8,530 7,250
19 General
science,
space, and
technology 18,637 20,715 10,089 9,601
20 Energy -1,060 -677 -90 -893
21 Natural re-
sources
and envi-
ronment 25,031 23,738 12,100 10,814
22 Agriculture 36,641 28,339 20,887 11,164
23 Commerce and
housing
credit 3,211 5,801 7,353 -2,497
24 Transporta-
tion 46,854 53,882 23,199 21,054
25 Community
and re-
gional
develop
ment 10,629 12,827 6,806 5,050
26 Education,
training,
employ-
ment, and
social
services 59,201 62,869 27,532 31,234
27 Health 154,534 171,912 74,490 75,871
28 Social secu-
rity and
Medicare 606,549 650,407 295,030 306,966
29 Income
security 247,895 263,274 113,504 133,915
30 Veterans be-
nefits and
services 47,083 45,029 23,412 23,174
31 Administra-
tion of
justice 27,820 29,754 13,459 13,981
32 General
government 13,454 15,084 7,010 6,198
33 Net interest
(5) 223,218 206,088 112,420 115,545
34 Undistribu-
ted off-
setting
receipts
(6) -42,581 -47,011 -22,850 -19,346
Calendar year
2000 2001 2001
Source
or type H2 H1 Aug. Sept. Oct.
RECEIPTS
1 All sources 952,942 1,120,040 122,559 158,496 (r) 157,163
2 Individual
income
taxes,
net 458,679 580,632 52,020 81,277 77,772
3 Withheld 395,572 402,417 66,415 49,679 69,963
4 Nonwith-
held 77,732 308,418 6,435 45,676 9,858
5 Refunds 14,628 130,256 20,831 14,078 2,049
Corporation
income
taxes
6 Gross
receipts 123,962 102,947 4,618 9,533 30,134
7 Refunds 15,776 20,262 1,475 2,057 10,388
8 Social insu-
rance
taxes
and
contri-
butions,
net 310,122 379,878 53,692 56,147 48,794
9 Employment
taxes
and
contri-
butions
(2) 297,665 359,648 49,974 55,433 46,887
10 Unemploy-
ment in-
surance 10,097 17,842 3,294 349 1,529
11 Other net
receipts
(3) 2,360 2,387 424 365 378
12 Excise taxes 35,501 32,490 5,438 6,443 3,657
13 Customs
deposits 10,676 9,370 1,926 1,563 1,920
14 Estate and
gift taxes 13,216 15,471 2,196 1,761 2,488
15 Miscella-
neous re-
ceipts (4) 16,556 19,517 4,142 3,828 2,786
OUTLAYS
16 All types 894,905 948,750 202,549 123,250 (r) 166,548
17 National
defense 147,651 153,154 30,393 23,987 26,373
18 Interna-
tional
affairs 11,902 6,522 260 1,350 2,519
19 General
science,
space, and
technology 10,389 10,073 2,014 1,668 2,025
20 Energy -595 -244 -68 697 -355
21 Natural re-
sources
and envi-
ronment 12,907 11,059 2,087 2,521 2,248
22 Agriculture 20,977 10,832 6,226 -1,149 5,288
23 Commerce and
housing
credit 4,408 -1,539 4,287 15,844 1,194
24 Transporta-
tion 25,841 23,810 5,433 7,358 5,423
25 Community
and re-
gional
develop
ment 5,962 5,265 1,450 1,347 1,509
26 Education,
training,
employ-
ment, and
social
services 29,263 35,698 1,751 4,927 6,113
27 Health 81,413 87,427 15,419 14,088 17,549
28 Social secu-
rity and
Medicare 307,473 328,072 86,197 26,044 53,444
29 Income
security 113,212 146,913 24,025 15,738 21,664
30 Veterans be-
nefits and
services 22,615 23,171 6,199 2,123 4,294
31 Administra-
tion of
justice 14,635 14,694 2,647 2,428 3,230
32 General
government 6,461 8,887 261 1,733 1,581
33 Net interest
(5) 104,685 107,824 17,426 9,113 16,157
34 Undistribu-
ted off-
setting
receipts
(6) -24,070 -22,865 -3,459 -6,711 -3,727
(1.) Functional details do not sum to total outlays for calendar year
data because revisions to monthly totals have not been distributed
among functions. Fiscal year total for receipts and outlays do not
correspond to calendar year data because revisions from the Budget have
not been fully distributed across months.
(2.) Old-age, disability, and hospital insurance, and railroad
retirement accounts.
(3.) Federal employee retirement contributions and civil service
retirement and disability fund.
(4.) Deposits of earnings by Federal Reserve Banks and other
miscellaneous receipts.
(5.) Includes interest received by trust funds.
(6.) Rents and royalties for the outer continental shelf, U.S.
government contributions for employee retirement, and certain asset
sales.
SOURCE. Fiscal year totals: U.S. Office of Management and Budget,
Budget of the U.S. Government, Fiscal year 2002; monthly and half-year
totals: U.S. Department of the Treasury, Monthly Treasury Statement of
Receipts and Outlays of the U.S. Government.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
1999 2000
Sept. Sept.
Item 30 Dec. 31 Mar. 31 June 30 30
1 Federal debt
outstanding 5,685.2 5,805.0 5,801.5 5,714.2 5,701.9
2 Public debt
securities 5,656.3 5,776.1 5,773.4 5,685.9 5,674.2
3 Held by public 3,667.2 3,715.5 3,688.0 3,495.7 3,438.5
4 Held by agencies 1,989.1 2,060.6 2,085.4 2,190.2 2,235.7
5 Agency securities 28.9 28.9 28.1 28.3 27.7
6 Held by public 28.3 28.3 27.8 28.2 27.6
7 Held by agencies .6 .6 .4 .1 .1
8 Debt subject to
statutory limit 5,567.7 5,686.9 5,686.5 5,600.6 5,591.6
9 Public debt
securities 5,567.6 5,686.7 5,686.3 5,600.5 5,591.4
10 Other debt (1) .1 .1 .2 .2 .2
MEMO
11 Statutory debt
limit 5,950.0 5,950.0 5,950.0 5,950.0 5,950.0
2000 2001
Sept.
Item Dec. 31 Mar. 31 June 30 30
1 Federal debt
outstanding 5,689.6 5,800.6 5,753.9 5,834.5
2 Public debt
securities 5,662.2 5,773.7 5,726.8 5,807.5
3 Held by public 3,413.5 3,434.4 3,274.2 3,338.7
4 Held by agencies 2,248.7 2,339.4 2,452.6 2,468.8
5 Agency securities 27.4 26.8 27.1 27.0
6 Held by public 27.3 26.8 27.1 27.0
7 Held by agencies .1 .1 .0 .0
8 Debt subject to
statutory limit 5,580.5 5,692.5 5,645.0 5,732.6
9 Public debt
securities 5,580.2 5,692.3 5,644.8 5,807.5
10 Other debt (1) .2 .2 .2 .2
MEMO
11 Statutory debt
limit 5,950.0 5,950.0 5,950.0 5,950.0
(1.) Consists of guaranteed debt of U.S. Treasury and other federal
agencies, specified participation certificates, notes to international
lending organizations, and District of Columbia stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1997 1998 1999
1 Total gross
public debt 5,502.4 5,614.2 5,776.1
By type
2 Interest-bearing 5,494.9 5,605.4 5,766.1
3 Marketable 3,456.8 3,355.5 3,281.0
4 Bills 715.4 691.0 737.1
5 Notes 2,106.1 1,960.7 1,784.5
6 Bonds 587.3 621.2 643.7
7 Inflation-
indexed
notes and
bonds (1) 33.0 67.6 100.7
8 Nonmarketable
(2) 2,038.1 2,249.9 2,485.1
9 State and
local go-
vernment
series 124.1 165.3 165.7
10 Foreign
issues
(3) 36.2 34.3 31.3
11 Government 36.2 34.3 31.3
12 Public .0 .0 .0
13 Savings
bonds and
notes 181.2 180.3 179.4
14 Government
account
series (4) 1,666.7 1,840.0 2,078.7
15 Non-interest-
bearing 7.5 8.8 10.0
By holder (5)
16 U.S. Treasury
and other fe-
deral agencies
and trust
funds 1,657.1 1,821.1 2,064.2
17 Federal Reserve
Banks (6) 430.7 452.1 478.0
18 Private
investors 3,414.6 3,334.0 3,233.9
19 Depository
institutions 300.3 237.3 246.5
20 Mutual funds 321.6 (r) 343.3 (r) 335.4 (r)
21 Insurance
companies 176.6 141.7 (r) 123.4 (r)
22 State and
local trea-
suries (7) 239.3 269.3 266.8
Individuals
23 Savings bonds 186.5 186.6 186.5 (r)
24 Pension funds 360.5 356.9 (r) 349.7 (r)
25 Private 143.5 139.2 (r) 138.5 (r)
26 State and
Local 217.0 (r) 217.7 211.2
27 Foreign and
internatio-
nal (8) 1,241.6 1,278.7 1,268.7
28 Other misce-
llaneous
investors
(7,9) 589.5 517.5 (r) 444.1 (r)
2000 2001
Type and holder 2000 Q4 Q1
1 Total gross
public debt 5,662.2 5,662.2 5,773.7
By type
2 Interest-bearing 5,618.1 5,618.1 5,752.0
3 Marketable 2,966.9 2,966.9 2,982.0 (r)
4 Bills 646.9 646.9 712.0
5 Notes 1,557.3 1,557.3 1,499.0
6 Bonds 626.5 626.5 627.9
7 Inflation-
indexed
notes and
bonds (1) 121.2 121.2 128.0
8 Nonmarketable
(2) 2,651.2 2,651.2 2,770.0
9 State and
local go-
vernment
series 151.0 151.0 152.9
10 Foreign
issues
(3) 27.2 27.2 24.7
11 Government 27.2 27.2 24.7
12 Public .0 .0 .0
13 Savings
bonds and
notes 176.9 176.9 177.4
14 Government
account
series (4) 2,266.1 2,266.1 2,360.3
15 Non-interest-
bearing 44.2 44.2 46.5
By holder (5)
16 U.S. Treasury
and other fe-
deral agencies
and trust
funds 2,249.0 (r) 2,249.0 (r) 2,357.0
17 Federal Reserve
Banks (6) 511.7 511.7 523.9
18 Private
investors 2,880.4 2,880.4 2,892.9
19 Depository
institutions 199.2 (r) 199.2 (r) 187.9 (r)
20 Mutual funds 312.6 (r) 312.6 (r) 322.8 (r)
21 Insurance
companies 110.2 (r) 110.2 (r) 101.9
22 State and
local trea-
suries (7) 236.2 (r) 236.2 (r) 224.0
Individuals
23 Savings bonds 184.8 184.8 184.8
24 Pension funds 333.4 (r) 333.4 (r) 326.5
25 Private 137.7 (r) 137.7 (r) 131.2
26 State and
Local 195.7 (r) 195.7 (r) 195.3
27 Foreign and
internatio-
nal (8) 1,201.3 (r) 1,201.3 (r) 1,196.1
28 Other misce-
llaneous
investors
(7,9) 276.9 (r) 276.9 (r) 323.6 (r)
2001
Type and holder Q2 Q3
1 Total gross
public debt 5,726.8 5,807.5
By type
2 Interest-bearing 5,682.8 5,763.6
3 Marketable 2,822.3 2,897.3
4 Bills 620.1 734.9
5 Notes 1,441.0 1,399.6
6 Bonds 616.9 612.9
7 Inflation-
indexed
notes and
bonds (1) 129.3 134.9
8 Nonmarketable
(2) 2,860.5 2,866.4
9 State and
local go-
vernment
series 153.3 146.4
10 Foreign
issues
(3) 24.0 18.3
11 Government 24.0 18.3
12 Public .0 .0
13 Savings
bonds and
notes 178.4 179.6
14 Government
account
series (4) 2,474.7 2,492.1
15 Non-interest-
bearing 44.0 43.8
By holder (5)
16 U.S. Treasury
and other fe-
deral agencies
and trust
funds 2,469.1 2,493.7
17 Federal Reserve
Banks (6) 535.1 534.1
18 Private
investors 2,722.6 2,779.7
19 Depository
institutions 190.1 (r) 189.0
20 Mutual funds 333.2 (r) 362.7
21 Insurance
companies 94.8 (r) 88.5
22 State and
local trea-
suries (7) 216.6 (r) 188.9
Individuals
23 Savings bonds 185.5 (r) 186.4
24 Pension funds 324.6 (r) 314.7
25 Private 127.5 (r) 122.7
26 State and
Local 197.1 (r) 192.0
27 Foreign and
internatio-
nal (8) 1,167.1 1,170.0
28 Other misce-
llaneous
investors
(7,9) 195.8 n.a.
(1.) The U.S. Treasury first issued inflation-indexed securities during
the first quarter of 1997.
(2.) Includes (not shown separately) securities issued to the Rural
Electrification Administration, depository bonds, retirement plan
bonds, and individual retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal agencies
and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies and
trust funds are actual holdings; data for other groups are Treasury
estimates.
(6.) U.S. Treasury securities bought outright by Federal Reserve Banks,
see Bulletin table 1.18.
(7.) In March 1996, in a redefinition of series, fully defeased debt
backed by nonmarketable federal securities was removed from "Other
miscellaneous investors" and added to "State and local treasuries."
The data shown here have been revised accordingly.
(8.) Includes nonmarketable foreign series Treasury securities and
Treasury deposit funds. Excludes Treasury securities held under
repurchase agreements in custody accounts at the Federal Reserve Bank
of New York.
(9.) Includes individuals, government-sponsored enterprises, brokers
and dealers, bank personal trusts and estates, corporate and
noncorporate businesses, and other investors.
SOURCES. Data by type of security, U.S. Treasury Department, Monthly
Statement of the Public Debt of the United States; data by holder,
Federal Reserve Board of Governors, Flow of Funds Accounts of the
United States and U.S. Treasury Department, Treasury Bulletin, unless
otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions (1)
Millions of dollars, daily averages
2001,
2001 week
ending
Item July Aug. Sept. Sept. 5
By type of security
1 U.S. Treasury bills 27,315 35,361 29,627 43,936
Treasury coupon
securities by
maturity
2 Three years or less 92,942 90,953 96,124 109,931
3 More than three but
less than or equal
to six years 65,463 69,717 76,258 89,143
4 More than six but
less than or equal
to eleven years 53,709 65,251 60,808 (r) 73,266
5 More than eleven 16,682 16,847 18,764 18,649
6 Inflation-indexed (2) 2,433 1,491 1,653 2,004
Federal agency and
government-sponsored
enterprises
7 Discount notes 55,388 57,141 70,486 65,764
Coupon securities by
maturity
8 Three years or less 11,194 11,514 11,891 11,068
9 More than three
years but less
than or equal to
six years 7,594 8,769 8,913 11,004
10 More than six years
but less than or
equal to eleven
years 6,802 6,502 10,595 7,784
11 More than eleven
years 966 1,332 1,010 1,120
12 Mortgage-backed 95,997 106,708 129,615 95,827
Corporate securities
13 One year or less 75,223 79,388 95,488 91,264
14 More than one year 16,050 17,259 14,825 11,256
By type of counterparty
With interdealer broker
15 U.S. Treasury 120,946 133,598 125,189 155,757
16 Federal agency and
government-sponsored
enterprises 10,018 11,532 11,668 13,601
17 Mortgage-backed 28,194 32,160 33,296 30,632
18 Corporate 1,012 813 793 568
With other
19 U.S. Treasury 137,597 146,023 158,044 (r) 181,172
20 Federal agency and
government-sponsored
enterprises 71,926 73,725 91,226 83,140
21 Mortgage-backed 67,804 74,548 96,318 65,195
22 Corporate 90,261 95,833 109,520 101,952
2001, week ending
Item Sept. 12 Sept. 19 Sept. 26 Oct. 3
By type of security
1 U.S. Treasury bills 26,364 25,630 32,052 27,408
Treasury coupon
securities by
maturity
2 Three years or less 86,245 68,074 121,901 112,694
3 More than three but
less than or equal
to six years 72,391 59,108 89,673 82,377
4 More than six but
less than or equal
to eleven years 60,446 49,789 65,141 65,974
5 More than eleven 14,560 14,955 23,304 27,558
6 Inflation-indexed (2) 882 1,690 2,305 1,505
Federal agency and
government-sponsored
enterprises
7 Discount notes 61,515 91,437 63,187 63,505
Coupon securities by
maturity
8 Three years or less 10,034 10,471 14,126 15,321
9 More than three
years but less
than or equal to
six years 6,850 6,256 12,010 10,876
10 More than six years
but less than or
equal to eleven
years 10,802 5,618 16,876 9,629
11 More than eleven
years 851 511 1,486 1,353
12 Mortgage-backed 127,544 146,954 127,386 130,802
Corporate securities
13 One year or less 103,540 100,158 89,783 82,169
14 More than one year 17,494 6,834 20,774 16,829
By type of counterparty
With interdealer broker
15 U.S. Treasury 126,807 86,088 146,105 136,037
16 Federal agency and
government-sponsored
enterprises 11,812 7,763 14,836 11,222
17 Mortgage-backed 38,252 22,682 39,335 35,009
18 Corporate 792 369 1,399 563
With other
19 U.S. Treasury 134,081 133,157 188,271 181,478
20 Federal agency and
government-sponsored
enterprises 78,239 106,530 92,850 89,462
21 Mortgage-backed 89,292 124,272 88,051 95,793
22 Corporate 120,242 106,623 109,158 98,435
2001, week ending
Item Oct. 10 Oct. 17 Oct. 24 Oct. 31
By type of security
1 U.S. Treasury bills 26,555 24,338 32,937 32,351
Treasury coupon
securities by
maturity
2 Three years or less 85,341 103,453 119,295 110,220
3 More than three but
less than or equal
to six years 85,233 84,124 78,869 87,813
4 More than six but
less than or equal
to eleven years 63,938 52,884 50,928 66,353
5 More than eleven 19,610 16,814 22,759 34,983
6 Inflation-indexed (2) 4,143 2,141 2,760 2,168
Federal agency and
government-sponsored
enterprises
7 Discount notes 60,364 61,487 60,286 63,560
Coupon securities by
maturity
8 Three years or less 9,685 11,484 10,921 11,480
9 More than three
years but less
than or equal to
six years 9,624 12,414 16,332 9,211
10 More than six years
but less than or
equal to eleven
years 7,447 8,780 7,344 9,484
11 More than eleven
years 1,604 856 1,443 1,989
12 Mortgage-backed 182,422 158,842 96,765 92,084
Corporate securities
13 One year or less 92,566 81,955 76,528 67,299
14 More than one year 20,319 18,470 23,482 22,731
By type of counterparty
With interdealer broker
15 U.S. Treasury 130,368 133,046 144,839 150,216
16 Federal agency and
government-sponsored
enterprises 10,412 11,344 13,737 12,120
17 Mortgage-backed 47,825 45,799 29,636 25,614
18 Corporate 1,042 612 590 558
With other
19 U.S. Treasury 154,452 150,708 162,709 183,672
20 Federal agency and
government-sponsored
enterprises 78,313 83,677 82,589 83,603
21 Mortgage-backed 134,598 113,044 67,129 66,470
22 Corporate 111,842 99,814 99,420 89,471
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as all U.S. government securities traded on
a when-issued basis between the announcement and issue date. Data do
not include transactions under repurchase and reverse repurchase
(resale) agreements. Averages are based on the number of trading days
in the week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
NOTE. Major changes in the report form filed by primary dealers induced
a break in the dealer data series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http:www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2001,
2001 week ending
Item July Aug. Sept. Sept. 5
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 7,014 22,281 29,542 34,763
Treasury coupon
securities by
maturity
2 Three years or less -16,714 -17,171 -13,889 -16,343
3 More than three
years but less
than or equal to
six years -15,174 -11,233 -10,010 -12,472
4 More than six but
less than or
equal to eleven
years -18,610 -14,383 -13,631 -13,047
5 More than eleven 10,090 8,486 10,701 8,674
6 Inflation-indexed 2,311 3,202 3,918 3,270
Federal agency and
government-
sponsored
enterprises
7 Discount notes 56,172 56,726 58,480 59,834
Coupon securities,
by maturity
8 Three years or
less 23,494 18,353 14,089 15,617
9 More than three
years but less
than or equal
to six years -1,445 -1,895 -1,937 -1,009
10 More than six but
less than or
equal to eleven
years 3,962 3,486 2,516 3,613
11 More than eleven 3,910 3,686 3,231 3,406
12 Mortgage-backed 12,840 12,198 7,506 10,235
Corporate securities
13 One year or less 15,038 15,756 18,108 18,295
14 More than one year 25,410 29,747 29,098 26,807
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 532,092 555,619 536,941 550,527
16 Term 751,848 688,830 660,031 655,695
Federal agency and
government-spon-
sored enterprises
17 Overnight and
continuing 113,178 116,534 112,778 116,321
18 Term 163,334 177,889 171,037 177,852
Mortgage-backed
securities
19 Overnight and
continuing 23,186 24,844 24,748 24,755
20 Term 199,969 220,176 208,146 210,910
Corporate securities
21 Overnight and
continuing 34,288 33,956 34,799 37,503
22 Term 13,672 13,216 12,781 13,534
MEMO: Reverse repur-
chase agreements
23 Overnight and
continuing 347,687 366,386 338,279 363,656
24 Term 1,004,418 976,454 929,665 934,150
Securities out
U.S. Treasury
25 Overnight and
continuing 521,688 565,431 556,068 565,442
26 Term 688,710 620,092 596,767 584,351
Federal agency and
government-spon-
sored enterprises
27 Overnight and
continuing 215,274 213,057 200,899 223,566
28 Term 123,248 144,850 131,482 133,931
Mortgage-backed
securities
29 Overnight and
continuing 254,481 277,441 258,259 249,380
30 Term 101,794 110,410 112,292 108,835
Corporate securities
31 Overnight and
continuing 81,804 82,922 80,776 86,574
32 Term 11,043 11,698 8,333 9,817
MEMO: Repurchase
agreements
33 Overnight and
continuing 940,177 1,006,856 965,270 997,155
34 Term 890,275 865,731 832,229 820,287
2001, week ending
Item Sept. 12 Sept. 19 Sept. 26 Oct. 3
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 33,144 32,117 23,027 23,605
Treasury coupon
securities by
maturity
2 Three years or less -16,699 -11,810 -10,642 -15,222
3 More than three
years but less
than or equal to
six years -10,728 -8,352 -7,341 -13,247
4 More than six but
less than or
equal to eleven
years -16,749 -12,237 -12,253 -13,756
5 More than eleven 7,952 11,599 13,389 11,769
6 Inflation-indexed 3,821 3,719 4,704 3,867
Federal agency and
government-
sponsored
enterprises
7 Discount notes 62,102 57,904 58,678 51,113
Coupon securities,
by maturity
8 Three years or
less 14,377 12,274 13,864 15,247
9 More than three
years but less
than or equal
to six years -2,803 -1,383 -2,860 -933
10 More than six but
less than or
equal to eleven
years 2,608 1,509 2,558 2,676
11 More than eleven 2,749 3,072 3,512 3,643
12 Mortgage-backed 6,258 9,386 4,691 7,914
Corporate securities
13 One year or less 24,806 13,109 14,605 21,033
14 More than one year 30,036 30,707 29,337 27,089
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 462,217 562,569 560,308 564,986
16 Term 681,161 658,858 684,893 587,017
Federal agency and
government-spon-
sored enterprises
17 Overnight and
continuing 94,158 117,976 117,469 123,630
18 Term 175,643 166,442 169,472 165,236
Mortgage-backed
securities
19 Overnight and
continuing 17,632 22,523 32,256 27,948
20 Term 208,702 208,175 207,964 203,982
Corporate securities
21 Overnight and
continuing 31,939 34,091 34,264 38,602
22 Term 12,320 12,086 12,560 14,247
MEMO: Reverse repur-
chase agreements
23 Overnight and
continuing 255,462 352,771 375,723 360,601
24 Term 951,686 930,595 949,738 848,766
Securities out
U.S. Treasury
25 Overnight and
continuing 497,109 558,008 585,170 593,206
26 Term 628,116 583,539 627,144 527,418
Federal agency and
government-spon-
sored enterprises
27 Overnight and
continuing 146,391 217,450 212,883 218,018
28 Term 146,525 118,311 134,871 119,215
Mortgage-backed
securities
29 Overnight and
continuing 216,023 281,213 279,875 265,276
30 Term 116,875 102,984 120,774 110,038
Corporate securities
31 Overnight and
continuing 63,717 81,965 86,246 91,730
32 Term 10,255 6,470 6,826 9,009
MEMO: Repurchase
agreements
33 Overnight and
continuing 812,032 1,008,659 1,022,890 1,016,816
34 Term 884,532 796,376 872,924 747,151
2001, week ending
Item Oct. 10 Oct. 17 Oct. 24
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 22,438 22,590 18,336
Treasury coupon
securities by
maturity
2 Three years or less -17,728 -20,821 -21,452
3 More than three
years but less
than or equal to
six years -19,193 -18,954 -21,775
4 More than six but
less than or
equal to eleven
years -7,642 -8,694 -6,976
5 More than eleven 11,197 9,745 9,651
6 Inflation-indexed 5,290 4,437 4,333
Federal agency and
government-
sponsored
enterprises
7 Discount notes 58,372 57,327 44,499
Coupon securities,
by maturity
8 Three years or
less 15,847 16,680 14,959
9 More than three
years but less
than or equal
to six years 2,786 695 1,728
10 More than six but
less than or
equal to eleven
years 1,826 2,511 2,525
11 More than eleven 3,426 3,556 4,000
12 Mortgage-backed 9,534 8,753 18,528
Corporate securities
13 One year or less 19,301 19,157 17,640
14 More than one year 32,273 30,689 33,218
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 572,274 558,485 559,013
16 Term 611,781 665,616 687,012
Federal agency and
government-spon-
sored enterprises
17 Overnight and
continuing 117,524 121,157 121,265
18 Term 168,441 172,761 182,881
Mortgage-backed
securities
19 Overnight and
continuing 27,742 30,203 22,371
20 Term 202,805 211,124 226,802
Corporate securities
21 Overnight and
continuing 36,535 36,767 36,433
22 Term 14,199 14,557 13,777
MEMO: Reverse repur-
chase agreements
23 Overnight and
continuing 357,363 348,798 354,913
24 Term 871,048 937,926 981,485
Securities out
U.S. Treasury
25 Overnight and
continuing 592,422 578,417 561,541
26 Term 540,399 583,625 624,158
Federal agency and
government-spon-
sored enterprises
27 Overnight and
continuing 217,125 225,136 224,837
28 Term 121,235 127,938 134,711
Mortgage-backed
securities
29 Overnight and
continuing 251,548 284,640 297,432
30 Term 121,481 138,676 147,547
Corporate securities
31 Overnight and
continuing 91,857 91,312 93,083
32 Term 9,458 9,595 9,826
MEMO: Repurchase
agreements
33 Overnight and
continuing 1,003,565 1,033,208 1,037,783
34 Term 773,130 843,261 897,956
(1.) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of primary dealers.
Weekly figures are close-of-business Wednesday data. Positions for
calendar days of the report week are assumed to be constant. Monthly
averages are based on the number of calendar days in the month.
(2.) Net outright positions include all U.S. government, federal
agency, government-sponsored enterprise, mortgage-backed, and corporate
securities scheduled for immediate and forward delivery, as well as
U.S. government securities traded on a when-issued basis between the
announcement and issue date.
(3.) Figures cover financing U.S. government, federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received, except
for pledged securities. TIIS that are issued as pledged securities are
reported at par value, which is the value of the security at original
issuance (unadjusted for inflation).
NOTE. Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http://www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1997 1998 1999
1 Federal and federally sponsored
agencies 1,022,609 1,296,477 1,616,492
2 Federal agencies 27,792 26,502 26,376
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) 552 n.a. n.a.
5 Federal Housing Administration
(4) 102 205 126
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 27,786 26,496 26,370
9 United States Railway Associa-
tion (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 994,817 1,269,975 1,590,116
11 Federal Home Loan Banks 313,919 382,131 529,005
12 Federal Home Loan Mortgage
Corporation 169,200 287,396 360,711
13 Federal National Mortgage
Association 369,774 460,291 547,619
14 Farm Credit Banks (8) 63,517 63,488 68,883
15 Student Loan Marketing Asso-
ciation (9) 37,717 35,399 41,988
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial Assis-
tance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding Corporation
(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 49,090 44,129 42,152
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) 552 n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway Associa-
tion (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 13,530 9,500 6,665
26 Rural Electrification Adminis-
tration 14,898 14,091 14,085
27 Other 20,110 20,538 21,402
2001
Agency 2000 Apr. May
1 Federal and federally sponsored
agencies 1,851,632 1,946,961 1,967,515
2 Federal agencies 25,666 25,024 25,070
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 255 315 201
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,660 25,018 25,064
9 United States Railway Associa-
tion (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,825,966 1,921,937 1,942,445
11 Federal Home Loan Banks 594,404 595,562 592,406
12 Federal Home Loan Mortgage
Corporation 426,899 478,447 490,442
13 Federal National Mortgage
Association 642,700 682,500 693,600
14 Farm Credit Banks (8) 74,181 74,456 75,363
15 Student Loan Marketing Asso-
ciation (9) 45,375 48,468 48,255
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial Assis-
tance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding Corporation
(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 40,575 39,065 42,837
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 Associa-
tion (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 5,275 5,155 5,540
26 Rural Electrification Adminis-
tration 13,126 13,371 12,989
27 Other 22,174 20,539 24,308
2001
Agency June July Aug.
1 Federal and federally sponsored
agencies 1,986,146 2,009,746 2,028,562
2 Federal agencies 25,495 25,325 26,623
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 204 210 224
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,489 25,319 26,617
9 United States Railway Associa-
tion (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,960,651 1,984,421 2,001,939
11 Federal Home Loan Banks 595,148 601,490 599,070
12 Federal Home Loan Mortgage
Corporation 496,711 508,944 515,671
13 Federal National Mortgage
Association 702,300 706,800 718,000
14 Farm Credit Banks (8) 76,330 76,307 76,264
15 Student Loan Marketing Asso-
ciation (9) 47,687 48,427 50,356
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial Assis-
tance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding Corporation
(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 38,235 37,510 37,789
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 Associa-
tion (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 5,155 5,155 5,155
26 Rural Electrification Adminis-
tration 13,381 13,483 13,602
27 Other 19,699 18,872 19,032
(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 Tax-Exempt State and Local Governments
Millions of dollars
Type of issue or issuer,
or use 1998 1999 2000
1 All issues, new and
refunding (1) 262,342 215,427 180,403
By type of issue
2 General obligation 87,015 73,308 64,475
3 Revenue 175,327 142,120 115,928
By type of issuer
4 State 23,506 16,376 19,944
5 Special district or statutory
authority (2) 178,421 152,418 111,695
6 Municipality, county, or
township 60,173 46,634 39,273
7 Issues for new capital 160,568 161,065 154,257
By use of proceeds
8 Education 36,904 36,563 38,665
9 Transportation 19,926 17,394 19,730
10 Utilities and conservation 21,037 15,098 11,917
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 8,594 9,099 7,122
13 Other purposes 42,450 47,896 47,309
2001
Type of issue or issuer,
or use Mar. Apr. May June
1 All issues, new and
refunding (1) 24,495 16,985 26,248 29,298
By type of issue
2 General obligation 7,668 6,890 8,385 9,691
3 Revenue 16,827 10,094 17,863 19,606
By type of issuer
4 State 1,893 1,900 3,123 2,905
5 Special district or statutory
authority (2) 17,280 113,344 17,281 20,672
6 Municipality, county, or
township 5,323 3,740 5,845 5,721
7 Issues for new capital 15,387 12,264 20,002 20,044
By use of proceeds
8 Education 5,343 3,731 5,714 6,460
9 Transportation 1,219 1,381 2,522 1,258
10 Utilities and conservation 1,677 1,447 2,969 3,191
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 396 436 422 443
13 Other purposes 4,368 3,010 4,736 5,047
2001
Type of issue or issuer,
or use July Aug. Sept. Oct.
1 All issues, new and
refunding (1) 19,232 21,152 13,159 30,446
By type of issue
2 General obligation 5,836 8,796 3,926 14,302
3 Revenue 13,396 12,356 9,233 16,144
By type of issuer
4 State 2,029 2,713 1,504 6,008
5 Special district or statutory
authority (2) 11,784 12,351 9,137 17,382
6 Municipality, county, or
township 5,419 6,088 2,518 7,056
7 Issues for new capital 15,015 13,550 10,110 21,249
By use of proceeds
8 Education 3,379 2,950 3,017 4,279
9 Transportation 3,160 1,669 1,195 1,587
10 Utilities and conservation 1,055 1,228 1,025 2,324
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 508 708 663 688
13 Other purposes 3,803 4,524 1,732 9,158
(1.) Par amounts of long-term issues based on date of sale.
(2.) Includes school districts.
SOURCE. Securities Data Company beginning January 1990;
Investment Dealer's Digest before then.
1.46 NEW SECURITY ISSUES U.S. Corporations
Millions of dollars
Type of issue, offering,
or issuer 1998 1999 2000
1 All issues (1) 1,128,491 1,072,866 942,198
2 Bonds (2) 1,001,736 941,298 807,281
By type of offering
3 Sold in the United States 923,771 818,683 684,484
4 Sold abroad 77,965 122,615 122,798
MEMO
5 Private placements, domestic n.a. n.a. n.a.
By industry group
6 Nonfinancial 307,711 293,963 242,452
7 Financial 694,025 647,335 564,829
8 Stocks (3) 182,055 223,968 283,717
By type of offering
9 Public 126,755 131,568 134,917
10 Private placement (4) 55,300 92,400 148,800
By industry group
11 Nonfinancial 74,113 110,284 118,369
12 Financial 52,642 21,284 16,548
2001
Type of issue, offering,
or issuer Feb. Mar. Apr. May
1 All issues (1) 96,206 139,267 92,778 164,563
2 Bonds (2) 88,806 127,956 86,274 154,623
By type of offering
3 Sold in the United States 86,146 118,779 81,156 146,164
4 Sold abroad 2,660 9,177 5,117 8,459
MEMO
5 Private placements, domestic 1,897 652 0 2,563
By industry group
6 Nonfinancial 34,604 44,385 33,549 67,142
7 Financial 54,201 83,571 52,725 87,481
8 Stocks (3) 7,400 11,311 6,504 9,940
By type of offering
9 Public 7,400 11,311 6,504 9,940
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,463 7,718 4,822 6,809
12 Financial 2,937 3,593 1,682 3,131
2001
Type of issue, offering,
or issuer June July Aug. (r) Sept.
1 All issues (1) 122,773 93,451 97,944 89,855
2 Bonds (2) 102,476 84,872 89,990 84,509
By type of offering
3 Sold in the United States 96,382 79,508 86,759 80,223
4 Sold abroad 6,094 5,364 3,231 4,286
MEMO
5 Private placements, domestic 3,146 12 48 0
By industry group
6 Nonfinancial 34,996 18,904 28,546 31,920
7 Financial 67,480 65,968 61,443 52,589
8 Stocks (3) 20,297 8,579 7,954 5,346
By type of offering
9 Public 20,297 8,579 7,954 5,346
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 16,630 4,237 5,487 81
12 Financial 3,667 4,342 2,467 5,265
(1.) Figures represent gross proceeds of issues maturing in more than
one year; they are the principal amount or number of units calculated
by multiplying by the offering price. Figures exclude secondary
offerings, employee stock plans, investment companies other than
closed-end, intracorporate transactions, and Yankee bonds. Stock data
include ownership securities issued by limited partnerships.
(2.) Monthly data include 144(a) offerings.
(3.) Monthly data cover only public offerings.
(4.) Data are not available.
SOURCE. Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets (1)
Millions of dollars
2001
Item 1999 2000 Mar. Apr.
1 Sales of own
shares (2) 1,791,894 2,279,315 162,548 152,327
2 Redemptions of own
shares 1,621,987 2,057,277 175,633 130,454
3 Net sales (3) 169,906 222,038 -13,085 21,873
4 Assets (4) 5,233,191 5,123,747 4,594,182 4,910,568
5 Cash (5) 219,189 277,386 241,518 247,169
6 Other 5,014,002 4,846,361 4,352,664 4,663,399
2001
Item May June July
1 Sales of own
shares (2) 158,361 139,270 138,428
2 Redemptions of own
shares 132,574 125,097 129,021
3 Net sales (3) 25,787 14,173 9,407
4 Assets (4) 4,956,982 4,888,874 4,825,144
5 Cash (5) 237,487 240,199 240,392
6 Other 4,719,495 4,648,675 4,584,752
2001
Item Aug. Sept. (r) Oct.
1 Sales of own
shares (2) 142,577 105,038 153,395
2 Redemptions of own
shares 131,408 127,995 137,565
3 Net sales (3) 11,169 -22,957 15,830
4 Assets (4) 4,635,477 4,253,850 4,376,430
5 Cash (5) 240,329 223,077 227,592
6 Other 4,395,148 4,030,773 4,148,838
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvestment of net income dividends and capital
gains distributions and share issue of conversions from one fund
to another in the same group.
(3.) Excludes sales and redemptions resulting from transfers of
shares into or out of money market mutual funds within the same
fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term
debt securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission.
Data reflect underwritings of newly formed companies after their
initial offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at seasonally adjusted
annual rates
1999
Account 1998 1999 2000 Q4
1 Profits with inventory valuation and
capital consumption adjustment 777.4 825.2 876.4 857.6
2 Profits before taxes 721.1 776.3 845.4 825.0
3 Profits-tax liability 238.8 253.0 271.5 267.3
4 Profits after tax 482.3 523.3 573.9 557.7
5 Dividends 348.7 343.5 379.6 349.6
6 Undistributed profits 133.6 179.8 194.3 208.1
7 Inventory valuation 18.3 -2.9 -12.4 -21.0
8 Capital consumption adjustment 38.0 51.7 43.4 53.6
2000
Account Q1 Q2 Q3 Q4
1 Profits with inventory valuation and
capital consumption adjustment 870.3 892.8 895.0 847.6
2 Profits before taxes 844.9 862.0 858.3 816.5
3 Profits-tax liability 277.0 280.4 274.9 253.5
4 Profits after tax 567.8 581.6 583.4 563.0
5 Dividends 361.5 373.7 386.2 397.0
6 Undistributed profits 206.3 207.9 197.2 165.9
7 Inventory valuation -23.8 -14.8 -3.6 -7.3
8 Capital consumption adjustment 49.2 45.5 40.4 38.4
2001
Account Q1 Q2 Q3
1 Profits with inventory valuation and
capital consumption adjustment 789.8 759.8 n.a.
2 Profits before taxes 755.7 738.3 n.a.
3 Profits-tax liability 236.8 228.0 n.a.
4 Profits after tax 518.9 510.3 n.a.
5 Dividends 405.2 412.3 420.4
6 Undistributed profits 113.7 98.0 n.a.
7 Inventory valuation -1.9 -8.8 n.a.
8 Capital consumption adjustment 36.0 30.3 12.6
SOURCE. U.S. Department of Commerce, Survey of Current Business.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
2000
Account 1998 (r) 1999 (r) 2000 (r) Q1 (r) Q2 (r)
ASSETS
1 Accounts
receivable,
gross (2) 742.1 845.4 958.6 883.2 921.5
2 Consumer 280.0 304.4 327.9 311.4 321.8
3 Business 340.9 395.1 458.4 422.7 441.9
4 Real estate 121.2 145.8 172.3 149.1 157.7
5 LESS: Reserves
for un-
earned
income 62.7 61.4 69.7 62.4 66.1
6 Reserves
for
losses 14.7 14.7 16.7 15.2 15.7
7 Accounts recei-
vable, net 664.7 769.3 872.2 805.6 839.6
8 All other 335.8 406.6 461.5 413.8 419.4
9 Total assets 1,000.5 1,175.9 1,333.7 1,219.4 1,259.0
LIABILITIES AND
CAPITAL
10 Bank loans 26.5 35.4 35.9 28.8 32.8
11 Commercial
paper 233.3 230.4 238.8 233.0 224.3
Debt
12 Owed to parent 34.3 87.8 102.5 107.2 95.1
13 Not elsewhere
classified 365.6 429.9 502.2 446.6 483.7
14 All other
liabilities 216.0 237.8 301.8 264.4 277.5
15 Capital,
surplus, and
undivided
profits 124.7 154.5 152.5 139.4 145.7
16 Total
liabilities
and capital 1,000.5 1,175.9 1,333.7 1,219.4 1,259.0
2000 2001
Account Q3 (r) Q4 (r) Q1 (r) Q2 (r) Q3
ASSETS
1 Accounts
receivable,
gross (2) 939.9 958.6 954.4 988.7 967.7
2 Consumer 331.5 327.9 319.2 324.5 329.2
3 Business 443.0 458.4 459.1 481.9 451.1
4 Real estate 165.4 172.3 176.1 182.3 187.4
5 LESS: Reserves
for un-
earned
income 68.3 69.7 69.9 61.5 60.8
6 Reserves
for
losses 15.6 16.7 17.2 17.4 18.0
7 Accounts recei-
vable, net 856.1 872.2 867.3 909.7 888.9
8 All other 442.3 461.5 474.8 459.0 478.2
9 Total assets 1,298.4 1,333.7 1,342.1 1,368.7 1,367.1
LIABILITIES AND
CAPITAL
10 Bank loans 35.7 35.9 41.6 45.3 44.5
11 Commercial
paper 218.8 238.8 180.9 181.6 171.0
Debt
12 Owed to parent 100.0 102.5 97.2 93.4 90.8
13 Not elsewhere
classified 507.3 502.2 533.8 542.1 555.9
14 All other
liabilities 288.1 301.8 325.1 336.3 327.7
15 Capital,
surplus, and
undivided
profits 148.5 152.5 163.5 170.0 177.3
16 Total
liabilities
and capital 1,298.4 1,333.7 1,342.1 1,368.7 1,367.1
(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 1998 (r) 1999 (r) 2000 (r)
Seasonally adjusted
1 Total 904.4 1,027.0 1,181.3
2 Consumer 369.1 409.0 464.0
3 Real estate 150.3 174.0 198.9
4 Business 385.0 444.0 518.4
Not seasonally adjusted
5 Total 912.7 1,036.4 1,192.1
6 Consumer 372.5 412.7 468.3
7 Motor vehicle loans 113.5 129.2 141.6
8 Motor vehicle leases 96.6 102.9 108.2
9 Revolving (2) 31.9 32.5 37.6
10 Other (3) 37.9 39.8 40.7
Securitized assets (4)
11 Motor vehicle loans 54.8 73.1 97.1
12 Motor vehicle leases 12.7 9.7 6.6
13 Revolving 5.5 6.7 19.6
14 Other 19.6 18.8 17.1
15 Real estate 150.3 174.0 198.9
16 One- to four-family 90.0 108.2 130.6
17 Other 31.2 37.6 41.7
Securitized real estate
assets (4)
18 One- to four-family 29.0 28.0 24.7
19 Other .1 .2 1.9
20 Business 389.9 449.6 525.0
21 Motor vehicles 64.8 69.4 75.5
22 Retail loans 19.5 21.1 18.3
23 Wholesale loans (5) 32.8 34.8 39.7
24 Leases 12.5 13.6 17.6
25 Equipment 212.2 238.7 283.5
26 Loans 59.2 64.5 70.2
27 Leases 153.0 174.2 213.3
28 Other business receivables (6) 63.9 87.0 99.4
Securitized assets (4)
29 Motor vehicles 29.2 31.5 37.8
30 Retail loans 2.6 2.9 3.2
31 Wholesale loans 24.7 26.4 32.5
32 Leases 1.9 2.1 2.2
33 Equipment 13.0 14.6 23.1
34 Loans 6.6 7.9 15.5
35 Leases 6.4 6.7 7.6
36 Other business
receivables (6) 6.8 8.4 5.6
2001
Type of credit Apr. (r) May (r) June (r)
Seasonally adjusted
1 Total 1,218.7 1,221.7 1,235.7
2 Consumer 488.4 485.9 490.4
3 Real estate 207.8 210.0 208.5
4 Business 522.6 525.7 536.8
Not seasonally adjusted
5 Total 1,220.5 1,224.6 1,241.8
6 Consumer 482.7 483.3 491.3
7 Motor vehicle loans 147.1 148.0 144.6
8 Motor vehicle leases 107.1 106.8 110.2
9 Revolving (2) 35.5 37.0 36.8
10 Other (3) 34.9 32.7 32.8
Securitized assets (4)
11 Motor vehicle loans 106.1 107.7 114.6
12 Motor vehicle leases 7.0 6.9 7.6
13 Revolving 29.1 28.4 29.1
14 Other 16.0 15.7 15.5
15 Real estate 207.8 210.0 208.5
16 One- to four-family 139.0 141.5 140.1
17 Other 42.3 42.4 42.2
Securitized real estate
assets (4)
18 One- to four-family 23.8 23.6 23.4
19 Other 2.6 2.6 2.8
20 Business 530.0 531.3 542.0
21 Motor vehicles 71.1 70.8 83.9
22 Retail loans 17.6 17.4 16.6
23 Wholesale loans (5) 35.4 35.3 49.3
24 Leases 18.1 18.1 18.1
25 Equipment 288.1 291.4 292.6
26 Loans 72.3 73.1 76.1
27 Leases 215.8 218.3 216.4
28 Other business receivables (6) 102.7 101.8 105.4
Securitized assets (4)
29 Motor vehicles 40.3 40.0 31.4
30 Retail loans 3.1 3.0 3.1
31 Wholesale loans 34.6 34.3 25.8
32 Leases 2.6 2.7 2.6
33 Equipment 22.2 21.6 22.6
34 Loans 14.4 13.9 15.2
35 Leases 7.8 7.7 7.5
36 Other business
receivables (6) 5.7 5.7 6.0
2001
Type of credit July (r) Aug. (r) Sept.
Seasonally adjusted
1 Total 1,242.4 1,244.1 1,244.3
2 Consumer 491.6 497.9 496.0
3 Real estate 212.7 214.9 213.1
4 Business 538.1 531.2 535.2
Not seasonally adjusted
5 Total 1,237.2 1,238.3 1,239.5
6 Consumer 493.6 499.5 498.0
7 Motor vehicle loans 146.1 153.6 151.5
8 Motor vehicle leases 110.0 110.3 108.3
9 Revolving (2) 36.9 37.1 35.9
10 Other (3) 33.2 33.7 33.4
Securitized assets (4)
11 Motor vehicle loans 115.8 113.6 117.5
12 Motor vehicle leases 7.4 7.2 7.0
13 Revolving 29.1 28.9 29.3
14 Other 15.2 15.2 15.0
15 Real estate 212.7 214.9 213.1
16 One- to four-family 144.7 146.9 144.8
17 Other 42.0 42.2 42.6
Securitized real estate
assets (4)
18 One- to four-family 23.2 23.0 22.8
19 Other 2.8 2.8 2.9
20 Business 531.0 523.9 528.4
21 Motor vehicles 79.7 56.9 57.8
22 Retail loans 16.6 16.7 16.7
23 Wholesale loans (5) 45.0 22.2 23.6
24 Leases 18.0 18.0 17.5
25 Equipment 288.0 290.0 288.2
26 Loans 74.0 75.2 76.8
27 Leases 214.0 214.8 211.4
28 Other business receivables (6) 103.7 102.9 105.1
Securitized assets (4)
29 Motor vehicles 30.6 45.2 48.0
30 Retail loans 2.9 2.8 2.6
31 Wholesale loans 25.1 39.8 42.8
32 Leases 2.6 2.6 2.7
33 Equipment 23.0 22.7 23.1
34 Loans 15.2 14.8 15.1
35 Leases 7.8 7.9 8.0
36 Other business
receivables (6) 6.0 6.2 6.1
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to the
June 1996 Survey of Finance Companies. In that benchmark survey, and
in the monthly surveys that have followed, more detailed breakdowns
have been obtained for some components. In addition, previously
unavailable data on securitized real estate loans are now included in
this table. The new information has resulted in some reclassificaton
of receivables among the three major categories (consumer, real
estate, and business) and in discontinuities in some component series
between May and June 1996.
Includes finance company subsidiaries of bank holding companies but
not of retailers and banks. Data in this table also appear in the
Board's G.20 (422) monthly statistical release. For ordering address,
see inside front cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools
upon which securities have been issued; these balances are no longer
carried on the balance sheets of the loan originator. Data are shown
before deductions for unearned income and losses. Components may not
sum to totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans to
purchase other types of consumer goods, such as appliances, apparel,
boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans
used primarily for business or farm purposes; and wholesale and
lease paper for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
2001
Item 1998 1999 2000 Apr. May
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price
(thousands of
dollars) 195.2 210.7 234.5 240.8 241.4
2 Amount of loan
(thousands of
dollars) 151.1 161.7 177.0 181.5 181.4
3 Loan-to-price
ratio (percent) 80.0 78.7 77.4 77.6 77.6
4 Maturity (years) 28.4 28.8 29.2 28.5 28.6
5 Fees and charges
(percent of
loan amount) (2) .89 .77 .70 .71 .69
Yield (percent per
year)
6 Contract rate (1) 6.95 6.94 7.41 6.96 7.02
7 Effective
rate (1,3) 7.08 7.06 7.52 7.07 7.12
8 Contract rate
(HUD series) (4) 7.00 7.45 n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per
year)
9 FHA mortgages
(section
203) (5) 7.04 7.74 n.a. n.a. n.a.
10 GNMA
securities (6) 6.43 7.03 7.57 6.53 6.61
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE
ASSOCIATION
Mortgage holdings
(end of period)
11 Total 414,515 523,941 610,122 n.a. n.a.
12 FHA/VA insured 33,770 55,318 61,539 n.a. n.a.
13 Conventional 380,745 468,623 548,583 n.a. n.a.
14 Mortgage transac-
tions purchased
(during period) 188,448 195,210 154,231 24,015 16,825
Mortgage
commitments
(during period)
15 Issued (7) 193,795 187,948 163,689 n.a. n.a.
16 To sell (8) 1,880 5,900 11,786 n.a. n.a.
FEDERAL HOME LOAN
MORTGAGE
CORPORATION
Mortgage holdings
(end of
period) (8)
17 Total 255,010 324,443 385,693 430,960 437,582
18 FHA/VA insured 785 1,836 3,332 2,878 2,785
19 Conventional 254,225 322,607 382,361 428,082 434,797
Mortgage
transactions
(during period)
20 Purchases 267,402 239,793 174,043 n.a. n.a.
21 Sales 250,565 233,031 166,901 31,219 33,670
22 Mortgage
commitments con-
tracted (during
period) (9) 281,899 228,432 169,231 32,758 39,897
2001
Item June July Aug. Sept. Oct.
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price
(thousands of
dollars) 250.6 242.9 241.5 246.6 242.9
2 Amount of loan
(thousands of
dollars) 188.7 182.7 181.3 184.3 181.2
3 Loan-to-price
ratio (percent) 77.3 77.3 76.6 77.1 76.9
4 Maturity (years) 28.7 28.8 28.7 29.0 28.5
5 Fees and charges
(percent of
loan amount) (2) .66 .66 .61 .61 .67
Yield (percent per
year)
6 Contract rate (1) 7.02 7.01 7.06 6.80 6.63
7 Effective
rate (1,3) 7.12 7.11 7.15 6.89 6.73
8 Contract rate
(HUD series) (4) n.a. n.a. n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per
year)
9 FHA mortgages
(section
203) (5) n.a. n.a. n.a. n.a. n.a.
10 GNMA
securities (6) 6.55 6.49 6.29 6.03 5.86
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE
ASSOCIATION
Mortgage holdings
(end of period)
11 Total n.a. n.a. n.a. n.a. n.a.
12 FHA/VA insured n.a. n.a. n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a. n.a. n.a.
14 Mortgage transac-
tions purchased
(during period) 24,430 26,082 22,111 16,016 20,020
Mortgage
commitments
(during period)
15 Issued (7) n.a. n.a. n.a. n.a. n.a.
16 To sell (8) n.a. n.a. n.a. n.a. n.a.
FEDERAL HOME LOAN
MORTGAGE
CORPORATION
Mortgage holdings
(end of
period) (8)
17 Total 443,810 454,485 465,553 470,850 477,588
18 FHA/VA insured 2,738 2,689 2,643 2,597 2,553
19 Conventional 441,072 451,796 462,910 468,253 475,035
Mortgage
transactions
(during period)
20 Purchases n.a. n.a. n.a. n.a. n.a.
21 Sales 38,133 44,574 33,933 32,666 31,646
22 Mortgage
commitments con-
tracted (during
period) (9) 37,312 43,788 34,087 31,140 41,346
(1.) Weighted averages based on sample surveys of mortgages originated
by major institutional lender groups for purchase of newly built homes;
compiled by the Federal Housing Finance Board in cooperation with the
Federal Deposit Insurance Corporation.
(2.) Includes all fees, commissions, discounts, and "points" paid (by
the borrower or the seller) to obtain a loan.
(3.) Average effective interest rate on loans closed for purchase of
newly built homes, assuming prepayment at the end of ten years.
(4.) Average contract rate on new commitments for conventional first
mortgages; from U.S. Department of Housing and Urban Development (HUD).
Based on transactions on the first day of the subsequent month,
(5.) Average gross yield on thirty-year, minimum-downpayment first
mortgages insured by the Federal Housing Administration (FHA) for
immediate delivery in the private secondary market. Based on
transactions on first day of subsequent month.
(6.) Average net yields to investors on fully modified pass-through
securities backed by mortgages and guaranteed by the Government
National Mortgage Association (GNMA), assuming prepayment in twelve
years on pools of thirty-year mortgages insured by the Federal Housing
Administration or guaranteed by the Department of Veterans Affairs.
(7.) Does not include standby commitments issued, but includes
standby commitments converted.
(8.) Includes participation loans as well as whole loans.
(9.) Includes conventional and government-underwritten loans. The
Federal Home Loan Mortgage Corporation's mortgage commitments and
mortgage transactions include activity under mortgage securities
swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
2000
Type of holder
and property 1997 1998 1999 Q2
1 All holders 5,195,235 5,707,172 6,343,995 6,615,662
By type of property
2 One- to four-family
residences 3,966,639 4,351,496 4,780,203 4,970,215
3 Multifamily
residences 301,817 333,873 378,811 398,667
4 Nonfarm,
nonresidential 836,479 925,297 1,082,019 1,140,329
5 Farm 90,300 96,506 102,962 106,451
By type of holder
6 Major financial
institutions 2,084,000 2,195,869 2,396,265 2,550,401
7 Commercial
banks (2) 1,245,334 1,338,273 1,496,844 1,615,794
8 One- to
four-family 745,777 798,009 880,208 949,223
9 Multifamily 50,705 54,174 67,666 75,795
10 Nonfarm, non-
residential 421,865 457,054 517,130 557,059
11 Farm 26,987 29,035 31,839 33,717
12 Savings insti-
tutions (3) 631,826 643,957 668,634 701,992
13 One- to
four-family 520,782 533,895 549,046 578,612
14 Multifamily 59,540 56,847 59,168 59,174
15 Nonfarm, non-
residential 51,150 52,798 59,945 63,688
16 Farm 354 417 475 518
17 Life insurance
companies 206,840 213,640 230,787 232,615
18 One- to
four-family 7,187 6,590 5,934 5,242
19 Multifamily 30,402 31,522 32,818 33,150
20 Nonfarm, non-
residential 158,779 164,004 179,048 180,856
21 Farm 10,472 11,524 12,987 13,367
22 Federal and related
agencies 286,194 293,602 322,132 332,568
23 Government Natio-
nal Mortgage
Association 8 7 7 7
24 One- to
four-family 8 7 7 7
25 Multifamily 0 0 0 0
26 Farmers Home
Adminis-
tration (4) 41,195 40,851 73,871 72,896
27 One- to
four-family 17,253 16,895 16,506 16,435
28 Multifamily 11,720 11,739 11,741 11,729
29 Nonfarm, non-
residential 7,370 7,705 41,355 40,554
30 Farm 4,852 4,513 4,268 4,179
31 Federal Housing
and Veterans'
Adminis-
trations 3,811 3,674 3,712 3,845
32 One- to
four-family 1,767 1,849 1,851 1,832
33 Multifamily 2,044 1,825 1,861 2,013
34 Resolution Trust
Corporation -278 24 -10 0
35 One- to
four-family 0 0 0 0
36 Multifamily 0 0 0 0
37 Nonfarm, non-
residential 0 0 0 0
38 Farm 0 0 0 0
39 Federal Deposit
Insurance
Corporation 724 361 152 72
40 One- to
four-family 117 58 25 12
41 Multifamily 140 70 29 14
42 Nonfarm, non-
residential 467 233 98 46
43 Farm 0 0 0 0
44 Federal National
Mortgage
Association 161,308 157,675 151,500 153,507
45 One- to
four-family 149,831 147,594 141,195 142,478
46 Multifamily 11,477 10,081 10,305 11,029
47 Federal Land
Banks 30,657 32,983 34,187 34,830
48 One- to
four-family 1,804 1,941 2,012 2,049
49 Farm 0 0 0 0
50 Federal Home Loan
Mortgage
Corporation 48,454 57,085 56,676 56,972
51 One- to
four-family 42,629 49,106 44,321 42,892
52 Multifamily 5,825 7,979 12,355 14,080
53 Mortgage pools or
trusts (5) 2,232,848 2,581,969 2,947,760 3,035,546
54 Government Natio-
nal Mortgage
Association 536,879 537,446 582,263 590,708
55 One- to
four-family 523,225 522,498 565,189 572,661
56 Multifamily 13,654 14,948 17,074 18,047
57 Federal Home Loan
Mortgage
Corporation 579,385 646,459 749,081 768,641
58 One- to
four-family 576,846 643,465 744,619 763,890
59 Multifamily 2,539 2,994 4,462 4,751
60 Federal National
Mortgage
Association 709,582 834,517 960,883 995,815
61 One- to
four-family 687,981 804,204 924,941 957,584
62 Multifamily 21,601 30,313 35,942 38,231
63 Farmers Home
Adminis-
tration (4) 2 1 0 0
64 One- to
four-family 0 0 0 0
65 Multifamily 0 0 0 0
66 Nonfarm, non-
residential 0 0 0 0
67 Farm 2 1 0 0
68 Private mortgage
conduits 407,000 563,546 655,533 680,382
69 One- to four-
family (6) 310,659 405,153 455,021 464,593
70 Multifamily 20,907 33,754 42,226 44,413
71 Nonfarm, non-
residential 75,434 124,639 158,287 171,376
72 Farm 0 0 0 0
73 Individuals and
others (7) 592,193 635,732 677,838 697,147
74 One- to
four-family 380,736 419,278 447,532 462,493
75 Multifamily 71,263 77,617 82,932 86,015
76 Nonfarm, non-
residential 121,415 118,863 126,156 126,750
77 Farm 18,779 19,974 21,217 21,889
2000 2001
Type of holder
and property Q3 Q4 Q1 Q2
1 All holders 6,767,922 6,914,156 7,036,854 7,253,938
By type of property
2 One- to four-family
residences 5,095,720 5,201,362 5,293,734 5,452,224
3 Multifamily
residences 407,112 417,555 426,993 442,399
4 Nonfarm,
nonresidential 1,157,134 1,186,403 1,206,253 1,246,425
5 Farm 107,957 108,836 109,873 112,889
By type of holder
6 Major financial
institutions 2,606,592 2,620,886 2,664,837 2,714,965
7 Commercial
banks (2) 1,650,294 1,661,411 1,688,673 1,727,255
8 One- to
four-family 968,831 966,502 978,144 999,307
9 Multifamily 77,031 77,821 79,890 80,542
10 Nonfarm, non-
residential 570,513 583,071 596,405 612,247
11 Farm 33,919 34,016 34,234 35,159
12 Savings insti-
tutions (3) 721,563 723,534 741,114 751,660
13 One- to
four-family 595,518 595,053 608,289 616,506
14 Multifamily 60,077 61,094 62,666 63,193
15 Nonfarm, non-
residential 65,437 66,852 69,589 71,378
16 Farm 531 535 569 583
17 Life insurance
companies 234,735 235,941 235,050 236,050
18 One- to
four-family 4,907 4,903 4,877 4,876
19 Multifamily 33,478 33,681 33,557 33,553
20 Nonfarm, non-
residential 182,646 183,757 183,078 184,084
21 Farm 13,704 13,600 13,538 13,537
22 Federal and related
agencies 336,575 343,962 346,276 355,218
23 Government Natio-
nal Mortgage
Association 6 6 6 6
24 One- to
four-family 6 6 6 6
25 Multifamily 0 0 0 0
26 Farmers Home
Adminis-
tration (4) 73,009 73,323 73,361 73,206
27 One- to
four-family 16,444 16,372 16,297 16,153
28 Multifamily 11,734 11,733 11,725 11,720
29 Nonfarm, non-
residential 40,665 41,070 41,247 41,262
30 Farm 4,167 4,148 4,093 4,072
31 Federal Housing
and Veterans'
Adminis-
trations 3,395 3,507 2,873 2,918
32 One- to
four-family 1,327 1,308 1,276 1,267
33 Multifamily 2,068 2,199 1,597 1,651
34 Resolution Trust
Corporation 0 0 0 0
35 One- to
four-family 0 0 0 0
36 Multifamily 0 0 0 0
37 Nonfarm, non-
residential 0 0 0 0
38 Farm 0 0 0 0
39 Federal Deposit
Insurance
Corporation 82 45 50 24
40 One- to
four-family 13 7 8 4
41 Multifamily 16 9 10 5
42 Nonfarm, non-
residential 53 29 32 15
43 Farm 0 0 0 0
44 Federal National
Mortgage
Association 152,815 155,363 156,294 159,221
45 One- to
four-family 141,786 144,150 145,014 147,730
46 Multifamily 11,029 11,213 11,280 11,491
47 Federal Land
Banks 35,549 36,326 37,072 38,686
48 One- to
four-family 2,092 2,137 2,181 2,276
49 Farm 0 0 0 0
50 Federal Home Loan
Mortgage
Corporation 57,046 59,240 60,110 61,542
51 One- to
four-family 42,138 42,871 42,771 42,537
52 Multifamily 14,908 16,369 17,339 19,005
53 Mortgage pools or
trusts (5) 3,116,180 3,232,338 3,303,742 3,450,274
54 Government Natio-
nal Mortgage
Association 602,628 611,553 601,534 598,106
55 One- to
four-family 584,152 592,624 581,754 577,315
56 Multifamily 18,476 18,929 19,780 20,792
57 Federal Home Loan
Mortgage
Corporation 790,891 822,310 833,616 873,750
58 One- to
four-family 786,007 816,602 827,769 867,924
59 Multifamily 4,884 5,708 5,847 5,826
60 Federal National
Mortgage
Association 1,020,828 1,057,750 1,099,049 1,163,978
61 One- to
four-family 981,206 1,016,398 1,055,412 1,116,534
62 Multifamily 39,622 41,352 43,637 47,444
63 Farmers Home
Adminis-
tration (4) 0 0 0 0
64 One- to
four-family 0 0 0 0
65 Multifamily 0 0 0 0
66 Nonfarm, non-
residential 0 0 0 0
67 Farm 0 0 0 0
68 Private mortgage
conduits 701,833 740,725 769,543 814,440
69 One- to four-
family (6) 477,899 499,834 523,300 539,200
70 Multifamily 46,142 49,513 50,749 56,974
71 Nonfarm, non-
residential 177,792 191,378 195,494 218,266
72 Farm 0 0 0 0
73 Individuals and
others (7) 708,575 716,971 721,999 733,482
74 One- to
four-family 478,944 486,664 490,345 501,192
75 Multifamily 87,423 87,714 88,699 89,989
76 Nonfarm, non-
residential 120,028 120,245 120,408 119,172
77 Farm 22,179 22,348 22,547 23,129
(1.) Multifamily debt refers to loans on structures of five or more
units.
(2.) Includes loans held by nondeposit trust companies but not loans
held by bank trust departments.
(3.) Includes savings banks and savings and loan associations.
(4.) FmHA-guaranteed securities sold to the Federal Financing Bank
were reallocated from FmHA mortgage pools to FmHA mortgage holdings
in 1986:Q4 because of accounting changes by the Farmers Home
Administration.
(5.) Outstanding principal balances of mortgage-backed securities
insured or guaranteed by the agency indicated.
(6.) Includes securitized home equity loans.
(7.) Other holders include mortgage companies, real estate investment
trusts, state and local credit agencies, state and local retirement
funds, noninsured pension funds, credit unions, and finance companies.
SOURCE. Based on data from various institutional and government
sources. Separation of nonfarm mortgage debt by type of property, if
not reported directly, and interpolations and extrapolations, when
required for some quarters, are estimated in part by the Federal
Reserve. Line 69 from Inside Mortgage Securities and other sources.
1.55 CONSUMER CREDIT (1)
Millions of dollars, amounts outstanding, end of period
Holder and type
of credit 1998 1999 2000
Seasonally adjusted
1 Total 1,315,797 (r) 1,413,564 (r) 1,557,931 (r)
2 Revolving 560,155 (r) 594,339 (r) 663,170 (r)
3 Nonrevolving (2) 755,642 (r) 819,225 (r) 894,761 (r)
Not seasonally adjusted
4 Total 1,346,596 (r) 1,446,127 (r) 1,593,051 (r)
By major holder
5 Commercial banks 508,932 499,758 541,470
6 Finance companies 183,345 (r) 201,549 (r) 219,783 (r)
7 Credit unions 155,406 167,921 184,434
8 Savings
institutions 51,611 61,527 64,557
9 Nonfinancial
business 74,877 80,311 82,662
10 Pools of
securitized
assets (3) 372,425 435,061 500,145
By major type of
credit (4)
11 Revolving 586,163 (r) 621,914 (r) 692,955 (r)
12 Commercial banks 210,346 189,352 218,063
13 Finance companies 31,944 (r) 32,483 (r) 37,561 (r)
14 Credit unions 19,930 20,641 22,226
15 Savings
institutions 12,450 15,838 16,560
16 Nonfinancial
business 39,166 42,783 42,430
17 Pools of
securitized
assets (3) 272,327 320,817 356,114
18 Nonrevolving 760,433 (r) 824,213 (r) 900,095 (r)
19 Commercial banks 298,586 310,406 323,407
20 Finance companies 151,401 (r) 169,066 (r) 182,221 (r)
21 Credit unions 135,476 147,280 162,208
22 Savings
institutions 39,161 45,689 47,997
23 Nonfinancial
business 35,711 37,528 40,232
24 Pools of
securitized
assets (3) 100,098 114,244 144,031
2001
Holder and type
of credit Apr. (r) May (r) June (r)
Seasonally adjusted
1 Total 1,610,889 1,617,041 1,616,293
2 Revolving 695,830 698,536 699,651
3 Nonrevolving (2) 915,059 918,505 916,642
Not seasonally adjusted
4 Total 1,596,536 1,602,128 1,608,104
By major holder
5 Commercial banks 540,740 543,048 540,213
6 Finance companies 217,481 217,697 214,271
7 Credit unions 184,089 185,683 186,357
8 Savings
institutions 65,453 65,396 65,340
9 Nonfinancial
business 71,490 69,963 68,013
10 Pools of
securitized
assets (3) 517,282 520,340 533,911
By major type of
credit (4)
11 Revolving 688,633 691,141 693,662
12 Commercial banks 214,683 216,268 213,014
13 Finance companies 35,477 37,033 36,848
14 Credit unions 21,054 21,207 21,268
15 Savings
institutions 16,788 16,589 16,389
16 Nonfinancial
business 33,815 32,690 31,366
17 Pools of
securitized
assets (3) 366,815 367,354 374,776
18 Nonrevolving 907,904 910,987 914,442
19 Commercial banks 326,057 326,780 327,199
20 Finance companies 182,004 180,664 177,422
21 Credit unions 163,035 164,476 165,089
22 Savings
institutions 48,665 48,807 48,951
23 Nonfinancial
business 37,674 37,274 36,647
24 Pools of
securitized
assets (3) 150,468 152,986 159,134
2001
Holder and type
of credit July (r) Aug. (r) Sept.
Seasonally adjusted
1 Total 1,615,308 1,619,629 1,621,615
2 Revolving 694,785 693,486 692,732
3 Nonrevolving (2) 920,524 926,143 928,882
Not seasonally adjusted
4 Total 1,607,705 1,621,982 1,622,820
By major holder
5 Commercial banks 535,459 537,724 535,255
6 Finance companies 216,191 224,310 220,849
7 Credit unions 185,081 186,274 185,732
8 Savings
institutions 66,584 67,828 69,072
9 Nonfinancial
business 65,228 63,310 60,212
10 Pools of
securitized
assets (3) 539,164 542,536 551,700
By major type of
credit (4)
11 Revolving 687,439 689,874 688,512
12 Commercial banks 208,852 206,279 203,126
13 Finance companies 36,949 37,082 35,901
14 Credit unions 21,799 22,195 21,879
15 Savings
institutions 16,568 16,746 16,925
16 Nonfinancial
business 29,314 27,603 25,207
17 Pools of
securitized
assets (3) 373,958 379,968 385,474
18 Nonrevolving 920,267 932,108 934,308
19 Commercial banks 326,607 331,445 332,129
20 Finance companies 179,242 187,228 184,948
21 Credit unions 163,282 164,079 163,853
22 Savings
institutions 50,016 51,082 52,147
23 Nonfinancial
business 35,914 35,707 35,005
24 Pools of
securitized
assets (3) 165,207 162,567 166,226
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals, excluding loans
secured by real estate. Data in this table also appear in the Board's
G.19 (421) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured
or unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT (1)
Percent per year except as noted
2001
Item 1998 1999 2000 Mar. Apr.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.72 8.44 9.34 n.a. n.a.
2 24-month personal 13.74 13.39 13.90 n.a. n.a.
Credit card plan
3 All accounts 15.71 15.21 15.71 n.a. n.a.
4 Accounts assessed
interest 15.59 14.81 14.91 n.a. n.a.
Auto finance companies
5 New car 6.30 6.66 6.61 6.80 6.80
6 Used car 12.64 12.60 13.55 13.19 12.82
OTHER TERMS (3)
Maturity (months)
7 New car 52.1 52.7 54.9 55.6 56.3
8 Used car 53.5 55.9 57.0 58.0 57.9
Loan-to-value ratio
9 New car 92 92 92 91 91
10 Used car 99 99 99 100 100
Amount financed
(dollars)
11 New car 19,083 19,880 20,923 22,131 21,914
12 Used car 12,691 13,642 14,058 14,214 14,347
2001
Item May June July Aug. Sept.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.67 n.a. n.a. 8.31 n.a.
2 24-month personal 13.28 n.a. n.a. 13.25 n.a.
Credit card plan
3 All accounts 15.07 n.a. n.a. 14.60 n.a.
4 Accounts assessed
interest 14.63 n.a. n.a. 14.64 n.a.
Auto finance companies
5 New car 6.56 6.15 6.20 6.41 5.42
6 Used car 12.57 12.05 11.79 12.06 12.01
OTHER TERMS (3)
Maturity (months)
7 New car 57.0 57.2 57.3 57.7 57.2
8 Used car 57.8 57.6 57.6 57.6 57.6
Loan-to-value ratio
9 New car 92 91 91 91 92
10 Used car 100 100 100 100 101
Amount financed
(dollars)
11 New car 21,871 22,124 22,687 22,591 23,049
12 Used car 14,350 14,586 14,571 14,321 14,408
(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 1995 1996 1997
or sector (r) (r)
Nonfinancial
1 Total net borrowing by
domestic nonfinan-
cial sectors 705.9 733.6 (r) 805.5 (r)
By sector and
instrument
2 Federal government 144.4 145.0 23.1
3 Treasury securities 142.9 146.6 23.2
4 Budget agency
securities and
mortgages 1.5 -1.6 -.1
5 Nonfederal 561.5 588.6 (r) 782.4 (r)
By instrument
6 Commercial paper 18.1 -.9 13.7
7 Municipal securities
and loans -48.2 2.6 71.4
8 Corporate bonds 91.1 116.3 150.5
9 Bank loans n.e.c. 103.7 70.4 (r) 106.4 (r)
10 Other loans and
advances 67.2 28.7 (r) 59.5 (r)
11 Mortgages 190.6 280.4 (r) 323.3 (r)
12 Home 179.1 245.7 (r) 258.3 (r)
13 Multifamily
residential 4.5 9.4 (r) 7.5 (r)
14 Commercial 5.7 22.5 54.4 (r)
15 Farm 1.4 2.7 3.1
16 Consumer credit 138.9 91.3 (r) 57.5
By borrowing sector
17 Household 339.3 343.8 (r) 332.7 (r)
18 Nonfinancial
business 273.7 251.6 (r) 393.6 (r)
19 Corporate 224.9 179.4 (r) 292.7 (r)
20 Nonfarm non-
corporate 46.1 67.3 (r) 94.7 (r)
21 Farm 2.7 4.9 6.2
22 State and local
government -51.5 -6.8 56.1
23 Foreign net borrowing
in United States 78.5 88.4 71.8
24 Commercial paper 13.5 11.3 3.7
25 Bonds 57.1 67.0 61.4
26 Bank loans n.e.c. 8.5 9.1 8.5
27 Other loans and
advances -.5 1.0 -1.8
28 Total domestic plus
foreign 784.5 822.0 (r) 877.3 (r)
Financial sectors
29 Total net borrowing by
financial sectors 454.0 550.1 (r) 662.2 (r)
By instrument
30 Federal government-
related 204.2 231.4 212.9
31 Government-sponsored
enterprise secu-
rities 105.9 90.4 98.4
32 Mortgage pool
securities 98.3 141.0 114.6
33 Loans from U.S.
government .0 .0 .0
34 Private 249.8 318.7 (r) 449.3 (r)
35 Open market paper 42.7 92.2 166.7
36 Corporate bonds 195.9 178.1 (r) 218.9 (r)
37 Bank loans n.e.c. 2.5 12.6 13.3 (r)
38 Other loans and
advances 3.4 27.9 35.6
39 Mortgages 5.3 7.9 14.9
By borrowing sector
40 Commercial banking 22.5 13.0 46.1
41 Savings institutions 2.6 25.5 19.7
42 Credit unions -.1 .1 .1
43 Life insurance
companies -.1 1.1 .2
44 Government-sponsored
enterprises 105.9 90.4 98.4
45 Federally related
mortgage pools 98.3 141.0 114.6
46 Issuers of asset-
backed securities
(ABSs) 142.4 150.8 202.2
47 Finance companies 50.2 50.6 (r) 57.8 (r)
48 Mortgage companies -2.2 4.1 -4.6
49 Real estate investment
trusts (REITs) 4.5 11.9 39.6
50 Brokers and dealers -5.0 -2.0 8.1
51 Funding corporations 34.9 63.8 (r) 79.9 (r)
All sectors
52 Total net borrowing,
all sectors 1,238.5 1,372.1 1,539.5
53 Open market paper 74.3 102.6 184.1
54 U.S. government
securities 348.6 376.4 236.0
55 Municipal securities -48.2 2.6 71.4
56 Corporate and foreign
bonds 344.1 361.3 430.8
57 Bank loans n.e.c. 114.7 92.1 128.2
58 Other loans and
advances 70.1 57.7 93.2
59 Mortgages 196.0 288.2 338.2
60 Consumer credit 138.9 91.3 57.5
Funds raised through mutual
funds and corporate equities
61 Total net issues 147.2 (r) 232.9 185.2
62 Corporate equities -.2 (r) -4.7 -79.9
63 Nonfinancial
corporation -58.3 -69.5 -114.4
64 Foreign shares pur-
chased by U.S.
residents 65.4 82.8 57.6
65 Financial corpora- -7.3 (r) -18.1 -23.1
tions
66 Mutual fund shares 147.4 237.6 265.1
2000
Transaction category 1998 1999 Q1 (r)
or sector (r) (r)
Nonfinancial
1 Total net borrowing by
domestic nonfinan-
cial sectors 1,048.8 (r) 1,099.8 (r) 951.1 (r)
By sector and
instrument
2 Federal government -52.6 -71.2 -217.2
3 Treasury securities -54.6 -71.0 -215.2
4 Budget agency
securities and
mortgages 2.0 -.2 -2.1
5 Nonfederal 1,101.5 (r) 1,171.1 (r) 1,168.4
By instrument
6 Commercial paper 24.4 37.4 29.8
7 Municipal securities
and loans 96.8 68.2 20.0
8 Corporate bonds 218.7 229.9 186.2
9 Bank loans n.e.c. 108.1 (r) 82.6 (r) 139.5
10 Other loans and
advances 82.1 (r) 57.1 (r) 140.1 (r)
11 Mortgages 496.4 (r) 596.3 (r) 502.9 (r)
12 Home 389.9 (r) 435.2 (r) 361.9 (r)
13 Multifamily
residential 23.8 40.5 (r) 29.2 (r)
14 Commercial 76.1 (r) 114.8 (r) 104.4 (r)
15 Farm 6.5 5.8 7.4
16 Consumer credit 75.0 (r) 99.5 (r) 149.9 (r)
By borrowing sector
17 Household 467.2 (r) 517.1 (r) 526.9 (r)
18 Nonfinancial
business 554.0 (r) 601.6 (r) 628.5 (r)
19 Corporate 406.3 (r) 440.8 (r) 479.7 (r)
20 Nonfarm non-
corporate 139.7 (r) 155.4 (r) 135.0 (r)
21 Farm 8.0 5.5 13.8
22 State and local
government 80.3 52.3 12.9
23 Foreign net borrowing
in United States 43.4 27.9 120.3 (r)
24 Commercial paper 7.8 16.3 57.8
25 Bonds 34.9 16.8 47.6 (r)
26 Bank loans n.e.c. 6.7 .5 15.4
27 Other loans and
advances -6.0 -5.7 -.5
28 Total domestic plus
foreign 1,092.2 (r) 1,127.8 (r) 1,071.4 (r)
Financial sectors
29 Total net borrowing by
financial sectors 1,087.2 (r) 1,084.4 (r) 608.0 (r)
By instrument
30 Federal government-
related 470.9 592.0 224.4
31 Government-sponsored
enterprise secu-
rities 278.3 318.2 104.9
32 Mortgage pool
securities 192.6 273.8 119.5
33 Loans from U.S.
government .0 .0 .0
34 Private 616.3 (r) 492.5 (r) 383.6
35 Open market paper 161.0 176.2 114.6
36 Corporate bonds 310.1 (r) 218.2 (r) 171.8
37 Bank loans n.e.c. 30.1 -14.2 (r) 3.2 (r)
38 Other loans and
advances 90.2 107.1 87.0
39 Mortgages 24.8 5.1 7.0
By borrowing sector
40 Commercial banking 72.9 67.2 78.3
41 Savings institutions 52.2 48.0 57.5
42 Credit unions .6 2.2 -2.9
43 Life insurance
companies .7 .7 -.7
44 Government-sponsored
enterprises 278.3 318.2 104.9
45 Federally related
mortgage pools 192.6 273.8 119.5
46 Issuers of asset-
backed securities
(ABSs) 321.4 223.4 175.0
47 Finance companies 57.1 (r) 70.3 (r) 61.1 (r)
48 Mortgage companies 1.6 .2 -3.0
49 Real estate investment
trusts (REITs) 62.7 6.3 11.5
50 Brokers and dealers 7.2 -17.2 44.4
51 Funding corporations 40.0 (r) 91.5 (r) -37.5 (r)
All sectors
52 Total net borrowing,
all sectors 2,179.4 2,212.2 1,679.4
53 Open market paper 193.1 229.9 202.1
54 U.S. government
securities 418.3 520.7 7.2
55 Municipal securities 96.8 68.2 20.0
56 Corporate and foreign
bonds 563.7 465.0 405.6
57 Bank loans n.e.c. 145.0 68.9 158.0
58 Other loans and
advances 166.3 158.5 226.6
59 Mortgages 521.2 601.4 509.9
60 Consumer credit 75.0 99.5 149.9
Funds raised through mutual
funds and corporate equities
61 Total net issues 108.8 153.7 390.1
62 Corporate equities -165.8 -34.6 82.8
63 Nonfinancial
corporation -267.0 -143.5 61.2
64 Foreign shares pur-
chased by U.S.
residents 101.3 114.4 62.6
65 Financial corpora- -.1 -5.6 -41.0
tions
66 Mutual fund shares 274.6 188.3 307.3
2000
Transaction category
or sector Q2 (r) Q3 (r) Q4 (r)
Nonfinancial
1 Total net borrowing by
domestic nonfinan-
cial sectors 978.2 (r) 792.0 (r) 772.1 (r)
By sector and
instrument
2 Federal government -408.7 -226.2 -331.3
3 Treasury securities -410.5 -223.8 -330.2
4 Budget agency
securities and
mortgages 1.8 -2.4 -1.2
5 Nonfederal 1,386.9 (r) 1,018.2 (r) 1,103.5 (r)
By instrument
6 Commercial paper 110.4 56.1 -4.0
7 Municipal securities
and loans 30.1 31.0 60.1
8 Corporate bonds 153.8 168.8 (r) 175.6
9 Bank loans n.e.c. 166.5 (r) 47.0 (r) 59.3 (r)
10 Other loans and
advances 124.2 (r) 16.5 (r) 125.2
11 Mortgages 659.6 (r) 570.7 (r) 551.6 (r)
12 Home 490.3 (r) 441.9 (r) 395.9 (r)
13 Multifamily
residential 48.0 (r) 28.8 (r) 41.7
14 Commercial 111.2 (r) 93.4 (r) 112.0 (r)
15 Farm 10.1 6.5 2.0 (r)
16 Consumer credit 142.1 (r) 128.2 (r) 135.6 (r)
By borrowing sector
17 Household 624.3 (r) 554.5 (r) 514.0 (r)
18 Nonfinancial
business 744.4 (r) 440.0 (r) 535.8 (r)
19 Corporate 550.2 (r) 303.7 (r) 388.8 (r)
20 Nonfarm non-
corporate 184.5 (r) 129.1 (r) 134.2
21 Farm 9.7 7.2 12.8 (r)
22 State and local
government 18.2 23.8 53.7
23 Foreign net borrowing
in United States -7.9 (r) 88.6 (r) 66.8 (r)
24 Commercial paper 12.0 7.0 50.1
25 Bonds -27.3 (r) 71.4 (r) 9.0 (r)
26 Bank loans n.e.c. 5.7 11.9 12.2
27 Other loans and
advances 1.7 -1.7 -4.6
28 Total domestic plus
foreign 970.3 (r) 880.6 (r) 838.9 (r)
Financial sectors
29 Total net borrowing by
financial sectors 897.1 (r) 794.0 (r) 963.1 (r)
By instrument
30 Federal government-
related 381.1 514.8 613.6
31 Government-sponsored
enterprise secu-
rities 248.9 278.1 304.5
32 Mortgage pool
securities 132.2 236.7 309.1
33 Loans from U.S.
government .0 .0 .0
34 Private 516.1 (r) 279.2 (r) 349.5 (r)
35 Open market paper 136.7 106.5 153.2
36 Corporate bonds 243.3 (r) 205.0 (r) 203.7 (r)
37 Bank loans n.e.c. 6.9 (r) -6.7 (r) -4.4
38 Other loans and
advances 119.2 -31.6 -4.8
39 Mortgages 10.0 6.0 1.8
By borrowing sector
40 Commercial banking 99.3 43.4 18.8
41 Savings institutions 69.0 -37.9 20.4
42 Credit unions .9 1.1 1.0
43 Life insurance
companies -1.1 -.3 -.7
44 Government-sponsored
enterprises 248.9 278.1 304.5
45 Federally related
mortgage pools 132.2 236.7 309.1
46 Issuers of asset-
backed securities
(ABSs) 146.0 156.2 307.9
47 Finance companies 139.4 (r) 98.1 (r) 26.1 (r)
48 Mortgage companies 2.7 -.3 1.0
49 Real estate investment
trusts (REITs) 9.8 -2.4 -8.1
50 Brokers and dealers -.7 25.4 -6.6
51 Funding corporations 50.6 (r) -4.2 (r) -10.4 (r)
All sectors
52 Total net borrowing,
all sectors 1,867.4 1,674.6 1,802.0
53 Open market paper 259.1 169.7 199.3
54 U.S. government
securities -27.6 288.6 282.2
55 Municipal securities 30.1 31.0 60.1
56 Corporate and foreign
bonds 369.8 445.2 388.3
57 Bank loans n.e.c. 179.2 52.2 67.1
58 Other loans and
advances 245.1 -16.8 115.8
59 Mortgages 669.6 576.7 553.5
60 Consumer credit 142.1 128.2 135.6
Funds raised through mutual
funds and corporate equities
61 Total net issues 209.9 245.6 -14.8
62 Corporate equities -22.2 -33.8 -171.5
63 Nonfinancial
corporation -245.2 -67.6 -350.8
64 Foreign shares pur-
chased by U.S.
residents 185.9 61.1 89.4
65 Financial corpora- 37.2 -27.3 89.8
tions
66 Mutual fund shares 232.0 279.4 156.7
2001
Transaction category
or sector Q1 (r) Q2 (r) Q3
Nonfinancial
1 Total net borrowing by
domestic nonfinan-
cial sectors 1,006.5 1,018.6 1,275.5
By sector and
instrument
2 Federal government -4.3 -256.0 255.7
3 Treasury securities -2.1 -257.1 256.0
4 Budget agency
securities and
mortgages -2.2 1.1 -.4
5 Nonfederal 1,010.9 1,274.6 1,019.8
By instrument
6 Commercial paper -207.2 -141.5 -74.1
7 Municipal securities
and loans 110.7 112.4 56.0
8 Corporate bonds 400.9 428.0 187.7
9 Bank loans n.e.c. -5.9 -153.2 -9.9
10 Other loans and
advances -12.0 117.7 78.4
11 Mortgages 564.6 837.7 760.6
12 Home 434.3 622.9 544.7
13 Multifamily
residential 39.3 55.5 57.7
14 Commercial 86.8 146.8 151.6
15 Farm 4.2 12.4 6.5
16 Consumer credit 159.9 73.6 21.3
By borrowing sector
17 Household 554.4 671.2 616.2
18 Nonfinancial
business 352.6 494.7 360.6
19 Corporate 225.2 354.3 248.9
20 Nonfarm non-
corporate 121.3 130.6 108.6
21 Farm 6.0 9.8 3.1
22 State and local
government 103.9 108.7 43.0
23 Foreign net borrowing
in United States -6.9 -57.2 -126.8
24 Commercial paper -25.4 -5.6 -26.5
25 Bonds 17.1 -15.9 -101.4
26 Bank loans n.e.c. 13.0 -31.0 4.4
27 Other loans and
advances -11.6 -4.7 -3.4
28 Total domestic plus
foreign 999.6 961.5 1,148.7
Financial sectors
29 Total net borrowing by
financial sectors 864.2 795.7 1,086.3
By instrument
30 Federal government-
related 432.6 674.8 820.6
31 Government-sponsored
enterprise secu-
rities 262.3 268.3 328.0
32 Mortgage pool
securities 170.3 406.5 492.6
33 Loans from U.S.
government .0 .0 .0
34 Private 431.7 120.9 265.7
35 Open market paper -134.6 -85.4 -85.6
36 Corporate bonds 438.9 186.8 309.6
37 Bank loans n.e.c. 27.1 14.3 -8.1
38 Other loans and
advances 107.8 -11.0 58.0
39 Mortgages -7.5 16.2 -8.2
By borrowing sector
40 Commercial banking 148.3 -15.8 69.8
41 Savings institutions 62.5 16.1 12.6
42 Credit unions -.6 .8 1.5
43 Life insurance
companies -2.4 .1 3.5
44 Government-sponsored
enterprises 262.3 268.3 328.0
45 Federally related
mortgage pools 170.3 406.5 492.6
46 Issuers of asset-
backed securities
(ABSs) 295.8 172.3 303.2
47 Finance companies -72.8 64.1 22.1
48 Mortgage companies .7 .6 .8
49 Real estate investment
trusts (REITs) -6.1 10.5 -10.2
50 Brokers and dealers -23.9 35.7 12.3
51 Funding corporations 30.1 -163.5 -150.0
All sectors
52 Total net borrowing,
all sectors 1,863.8 1,757.2 2,235.0
53 Open market paper -367.2 -232.5 -186.3
54 U.S. government
securities 428.2 418.8 1,076.3
55 Municipal securities 110.7 112.4 56.0
56 Corporate and foreign
bonds 856.9 598.9 395.9
57 Bank loans n.e.c. 34.1 -170.0 -13.6
58 Other loans and
advances 84.2 102.0 133.0
59 Mortgages 557.1 853.9 752.3
60 Consumer credit 159.9 73.6 21.3
Funds raised through mutual
funds and corporate equities
61 Total net issues 233.7 387.5 88.9
62 Corporate equities 137.3 119.5 -80.9
63 Nonfinancial
corporation -25.6 -72.6 -118.5
64 Foreign shares pur-
chased by U.S.
residents 109.2 208.8 10.9
65 Financial corpora- 53.7 -16.7 26.7
tions
66 Mutual fund shares 96.4 268.0 169.8
(1.) Data in this table also appear in the Board's Z.1
(780) quarterly statistical release, tables F.2 through F4.
For ordering address, see inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS (1)
Billions of dollars except as noted; quarterly data at seasonally
adjusted annual rates
Transaction category
or sector 1995 1996 1997
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 1,238.5 1,372.1 (r) 1,539.5 (r)
2 Domestic nonfederal
nonfinancial sectors -79.3 74.0 (r) -21.3 (r)
3 Household 16.5 113.7 (r) -11.8 (r)
4 Nonfinancial corporate
business -8.8 -10.2 -12.7
5 Nonfarm noncorporate
business 4.4 4.2 3.0
6 State and local
governments -91.4 -33.7 .1
7 Federal government -.5 -7.2 5.1
8 Rest of the world 273.9 414.4 311.3
9 Financial sectors 1,044.4 890.9 (r) 1,244.5 (r)
10 Monetary authority 12.7 12.3 38.3
11 Commercial banking 265.9 187.5 324.3
12 U.S.-chartered banks 186.5 119.6 274.9
13 Foreign banking
offices in United
States 75.4 63.3 40.2
14 Bank holding companies .3 3.9 5.4
15 Banks in U.S.-
affiliated areas 4.2 .7 3.7
16 Savings institutions -7.6 19.9 -4.7
17 Credit unions 16.2 25.5 16.8
18 Bank personal trusts and
estates -8.3 -7.7 -25.0
19 Life insurance companies 100.0 69.6 104.8
20 Other insurance companies 21.5 22.5 25.2
21 Private pension funds 19.9 -4.1 47.6
22 State and local government
retirement funds 38.3 35.8 67.1
23 Money market mutual funds 86.5 88.8 87.5
24 Mutual funds 52.5 48.9 80.9
25 Closed-end funds 10.2 4.6 -2.6
26 Government-sponsored
enterprises 95.4 97.4 106.6
27 Federally related mortgage
pools 98.3 141.0 114.6
28 Asset-backed securities
issuers (ABSs) 120.6 120.5 163.8
29 Finance companies 49.9 18.9 (r) 23.1 (r)
30 Mortgage companies -3.4 8.2 -9.1
31 Real estate investment
trusts (REITs) 1.4 4.4 20.2
32 Brokers and dealers 90.1 -15.7 14.9
33 Funding corporations -15.7 12.6 50.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,238.5 1,372.1 (r) 1,539.5 (r)
Other financial sources
35 Official foreign exchange 8.8 -6.3 .7
36 Special drawing rights
certificates 2.2 -.5 -.5
37 Treasury currency .7 .5 .5
38 Foreign deposits 35.3 85.9 107.7
39 Net interbank transactions 10.0 -51.6 -19.7
40 Checkable deposits and
currency -12.8 15.7 41.2
41 Small time and savings
deposits 96.6 97.2 97.1
42 Large time deposits 65.6 114.0 122.5
43 Money market fund shares 141.2 145.4 155.9
44 Security repurchase
agreements 110.5 41.4 120.9
45 Corporate equities -.2 (r) -4.7 (r) -79.9 (r)
46 Mutual fund shares 147.4 237.6 265.1
47 Trade payables 133.7 123.3 139.7
48 Security credit 26.7 52.4 111.0
49 Life insurance reserves 45.8 44.5 59.3
50 Pension fund reserves 158.8 148.3 201.4
51 Taxes payable 7.8 19.5 22.3
52 Investment in bank
personal trusts 6.4 -5.3 -49.9
53 Noncorporate proprietors'
equity -.2 -31.1 (r) -70.9 (r)
54 Miscellaneous 496.9 526.1 (r) 492.8 (r)
55 Total financial sources 2,719.7 (r) 2,924.5 (r) 3,256.8 (r)
Liabilities not identified
as assets (-)
56 Treasury currency -.3 -.4 -.2
57 Foreign deposits 25.0 (r) 59.4 (r) 106.2
58 Net interbank liabilities -3.1 -3.3 -19.9
59 Security repurchase
agreements 25.7 2.4 63.2
60 Taxes payable 21.1 23.1 28.0
61 Miscellaneous -198.7 (r) -173.7 (r) -245.5 (r)
Floats not included in
assets (-)
62 Federal government
checkable deposits -6.0 .5 -2.7
63 Other checkable deposits -3.8 -4.0 -3.9
64 Trade credit 17.4 -25.4 -29.2
65 Total identified to
sectors as assets 2,842.5 (r) 3,046.2 (r) 3,360.7 (r)
2000
Transaction category
or sector 1998 1999 Q1
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 2,179.4 (r) 2,212.2 (r) 1,679.4 (r)
2 Domestic nonfederal
nonfinancial sectors 99.5 (r) 196.3 (r) -218.5 (r)
3 Household -37.1 (r) 148.6 (r) -274.4 (r)
4 Nonfinancial corporate
business -16.0 -2.8 56.8 (r)
5 Nonfarm noncorporate
business 18.1 7.1 -2.1
6 State and local
governments 134.5 43.4 1.2
7 Federal government 13.5 5.8 6.5
8 Rest of the world 254.2 208.8 315.2
9 Financial sectors 1,812.1 (r) 1,801.3 (r) 1,576.1 (r)
10 Monetary authority 21.1 25.7 102.0
11 Commercial banking 305.2 308.2 415.8
12 U.S.-chartered banks 312.0 317.6 448.2
13 Foreign banking
offices in United
States -11.9 -20.1 4.5
14 Bank holding companies -.9 6.2 -42.2
15 Banks in U.S.-
affiliated areas 6.0 4.4 5.4
16 Savings institutions 36.1 68.6 55.6
17 Credit unions 19.0 27.5 35.7
18 Bank personal trusts and
estates -12.8 27.8 18.9
19 Life insurance companies 76.9 53.5 65.0
20 Other insurance companies 5.8 -3.0 -11.2
21 Private pension funds 56.4 45.0 46.8
22 State and local government
retirement funds 72.1 46.9 63.3
23 Money market mutual funds 244.0 182.0 161.5
24 Mutual funds 124.8 47.2 -66.9
25 Closed-end funds 5.5 7.4 -8.4
26 Government-sponsored
enterprises 314.6 291.7 205.4
27 Federally related mortgage
pools 192.6 273.8 119.5
28 Asset-backed securities
issuers (ABSs) 281.7 205.2 154.2
29 Finance companies 77.3 (r) 97.0 (r) 145.4 (r)
30 Mortgage companies 3.2 .3 -6.0
31 Real estate investment
trusts (REITs) -5.1 -2.6 -16.3
32 Brokers and dealers 6.8 -34.7 102.9 (r)
33 Funding corporations -12.9 133.8 -7.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,179.4 (r) 2,212.2 (r) 1,679.4 (r)
Other financial sources
35 Official foreign exchange 6.6 -8.7 1.5
36 Special drawing rights
certificates .0 -3.0 .0
37 Treasury currency .6 1.0 2.2
38 Foreign deposits 6.5 61.0 313.3
39 Net interbank transactions -32.3 17.6 -72.9
40 Checkable deposits and
currency 47.4 151.4 -206.8
41 Small time and savings
deposits 152.4 44.7 104.6
42 Large time deposits 92.1 130.6 154.1
43 Money market fund shares 287.2 249.1 239.7
44 Security repurchase
agreements 91.3 169.7 275.8 (r)
45 Corporate equities -165.8 (r) -34.6 (r) 82.8 (r)
46 Mutual fund shares 274.6 188.3 307.3
47 Trade payables 109.2 222.3 193.6 (r)
48 Security credit 103.3 104.3 507.8 (r)
49 Life insurance reserves 48.0 50.8 54.9
50 Pension fund reserves 202.1 184.4 (r) 206.9 (r)
51 Taxes payable 21.3 22.3 310.0 (r)
52 Investment in bank
personal trusts -41.8 -6.5 -28.4
53 Noncorporate proprietors'
equity -80.6 (r) -64.8 (r) -63.4 (r)
54 Miscellaneous 986.8 (r) 749.8 (r) 904.3 (r)
55 Total financial sources 4,288.2 (r) 4,441.8 (r) 4,687.7 (r)
Liabilities not identified
as assets (-)
56 Treasury currency -.1 -.7 -1.8
57 Foreign deposits -8.5 45.8 263.1 (r)
58 Net interbank liabilities 3.4 3.5 25.3
59 Security repurchase
agreements 60.6 30.0 567.2 (r)
60 Taxes payable 19.7 6.5 9.5 (r)
61 Miscellaneous -127.4 (r) -418.9 (r) -501.0 (r)
Floats not included in
assets (-)
62 Federal government
checkable deposits 2.6 -7.4 18.7
63 Other checkable deposits -3.1 -.8 1.0
64 Trade credit -51.3 42.9 -71.8 (r)
65 Total identified to
sectors as assets 4,392.3 (r) 4,740.8 (r) 4,377.5 (r)
2000
Transaction category
or sector Q2 Q3 Q4
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 1,867.4 (r) 1,674.6 (r) 1,802.0 (r)
2 Domestic nonfederal
nonfinancial sectors 90.3 (r) -255.1 (r) -227.2 (r)
3 Household -10.4 (r) -183.3 (r) -212.1 (r)
4 Nonfinancial corporate
business 60.4 (r) -51.4 (r) -24.5 (r)
5 Nonfarm noncorporate
business .4 -4.0 -2.7
6 State and local
governments 39.9 -16.4 12.1
7 Federal government 7.7 4.5 10.6
8 Rest of the world 197.9 216.2 387.8
9 Financial sectors 1,571.4 (r) 1,709.0 (r) 1,630.7 (r)
10 Monetary authority -5.4 39.1 -.9
11 Commercial banking 497.4 363.2 157.0
12 U.S.-chartered banks 510.9 324.8 75.3
13 Foreign banking
offices in United
States -22.3 32.8 81.1
14 Bank holding companies 3.5 -6.7 -3.2
15 Banks in U.S.-
affiliated areas 5.4 12.3 3.8
16 Savings institutions 65.0 62.7 42.5
17 Credit unions 31.6 21.2 33.6
18 Bank personal trusts and
estates 13.8 17.6 18.1
19 Life insurance companies 52.9 74.8 38.8
20 Other insurance companies -18.1 6.2 -11.7
21 Private pension funds 24.7 64.9 28.7
22 State and local government
retirement funds 31.5 37.6 86.1 (r)
23 Money market mutual funds -118.2 256.1 296.0
24 Mutual funds 63.1 50.1 60.8
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 250.9 188.6 318.8
27 Federally related mortgage
pools 132.2 236.7 309.1
28 Asset-backed securities
issuers (ABSs) 111.4 120.9 278.9
29 Finance companies 147.6 (r) 102.8 (r) 36.2 (r)
30 Mortgage companies 5.5 -.5 2.0
31 Real estate investment
trusts (REITs) -2.5 -3.6 -2.8
32 Brokers and dealers 89.8 (r) 152.1 (r) -69.0
33 Funding corporations 206.8 (r) -73.0 (r) 17.0 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,867.4 (r) 1,674.6 (r) 1,802.0 (r)
Other financial sources
35 Official foreign exchange -8.8 .7 4.9
36 Special drawing rights
certificates -8.0 -4.0 -4.0
37 Treasury currency 3.2 4.2 .0
38 Foreign deposits 3.4 -40.8 207.4
39 Net interbank transactions 151.9 -170.6 10.6
40 Checkable deposits and
currency -33.8 5.0 -50.2
41 Small time and savings
deposits 123.0 224.5 310.8
42 Large time deposits 101.2 152.9 65.2
43 Money market fund shares 71.5 250.9 371.1
44 Security repurchase
agreements 155.1 (r) 277.1 (r) -265.4 (r)
45 Corporate equities -22.2 (r) -33.8 (r) -171.5 (r)
46 Mutual fund shares 232.0 279.4 156.7
47 Trade payables 212.9 (r) 138.5 (r) 119.3 (r)
48 Security credit -95.3 (r) 97.5 (r) 74.4 (r)
49 Life insurance reserves 45.6 53.0 47.3
50 Pension fund reserves 260.7 (r) 227.0 (r) 168.8 (r)
51 Taxes payable 26.5 (r) 3.3 (r) 26.0 (r)
52 Investment in bank
personal trusts -33.1 -29.2 -28.0
53 Noncorporate proprietors'
equity -45.0 (r) -26.7 (r) -49.7 (r)
54 Miscellaneous 1,084.0 (r) 1,399.2 (r) 733.1 (r)
55 Total financial sources 4,092.3 (r) 4,482.8 (r) 3,528.8 (r)
Liabilities not identified
as assets (-)
56 Treasury currency -.7 .9 -3.3
57 Foreign deposits -82.2 (r) -100.2 (r) 200.3 (r)
58 Net interbank liabilities 5.4 -12.1 51.1
59 Security repurchase
agreements 51.9 (r) 126.5 (r) -301.4 (r)
60 Taxes payable 4.8 (r) -2.6 (r) 44.6 (r)
61 Miscellaneous -353.3 (r) -232.2 (r) -390.1 (r)
Floats not included in
assets (-)
62 Federal government
checkable deposits 16.3 3.0 -2.1
63 Other checkable deposits 1.4 1.9 2.4
64 Trade credit -36.5 (r) -51.9 (r) 24.3 (r)
65 Total identified to
sectors as assets 4,485.3 (r) 4,749.6 (r) 3,903.1 (r)
2001
Transaction category
or sector Q1 Q2 (r) Q3
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 1,863.8 (r) 1,757.2 2,235.0
2 Domestic nonfederal
nonfinancial sectors -171.6 (r) -153.8 -178.8
3 Household -172.5 (r) -140.5 -118.5
4 Nonfinancial corporate
business 4.1 (r) 16.6 -23.7
5 Nonfarm noncorporate
business -4.8 -5.2 -6.2
6 State and local
governments 1.5 -24.8 -30.4
7 Federal government 4.6 4.0 1.0
8 Rest of the world 411.2 (r) 349.6 381.9
9 Financial sectors 1,619.7 (r) 1,557.4 2,030.9
10 Monetary authority 53.7 26.4 8.7
11 Commercial banking 152.8 133.9 234.8
12 U.S.-chartered banks 107.9 179.7 215.4
13 Foreign banking
offices in United
States 41.3 -48.6 16.5
14 Bank holding companies 7.3 -2.8 -1.4
15 Banks in U.S.-
affiliated areas -3.6 5.6 4.2
16 Savings institutions 52.5 57.3 -6.0
17 Credit unions 23.2 (r) 7.6 61.7
18 Bank personal trusts and
estates 10.7 13.4 8.8
19 Life insurance companies 95.3 124.9 162.4
20 Other insurance companies 2.1 .1 9.0
21 Private pension funds 26.1 -7.1 -.9
22 State and local government
retirement funds -70.7 (r) 53.4 18.5
23 Money market mutual funds 303.4 166.2 379.1
24 Mutual funds 69.4 165.1 123.9
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 347.8 296.2 267.7
27 Federally related mortgage
pools 170.3 406.5 492.6
28 Asset-backed securities
issuers (ABSs) 269.8 150.0 276.4
29 Finance companies -.9 (r) 126.7 -42.1
30 Mortgage companies 1.4 1.1 1.7
31 Real estate investment
trusts (REITs) 4.0 1.1 7.7
32 Brokers and dealers 289.5 (r) 35.4 250.1
33 Funding corporations -172.5 (r) -192.4 -214.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,863.8 (r) 1,757.2 2,235.0
Other financial sources
35 Official foreign exchange -1.5 4.7 19.1
36 Special drawing rights
certificates .0 .0 .0
37 Treasury currency -1.1 1.1 .0
38 Foreign deposits 235.5 -146.5 15.4
39 Net interbank transactions -45.7 (r) 19.3 19.7
40 Checkable deposits and
currency 90.3 100.8 245.3
41 Small time and savings
deposits 288.3 194.2 229.2
42 Large time deposits 130.6 51.9 14.9
43 Money market fund shares 621.4 322.5 367.7
44 Security repurchase
agreements -12.8 (r) 177.7 262.2
45 Corporate equities 137.3 (r) 119.5 -80.9
46 Mutual fund shares 96.4 268.0 169.8
47 Trade payables -16.2 (r) -100.0 -81.4
48 Security credit -140.9 (r) -28.5 485.8
49 Life insurance reserves 52.7 53.2 56.5
50 Pension fund reserves 255.5 (r) 168.7 192.9
51 Taxes payable 3.3 (r) 16.3 114.4
52 Investment in bank
personal trusts -26.1 -22.7 -28.2
53 Noncorporate proprietors'
equity -48.5 (r) -25.1 -60.2
54 Miscellaneous 500.7 (r) 789.8 571.8
55 Total financial sources 3,983.1 (r) 3,722.3 4,749.2
Liabilities not identified
as assets (-)
56 Treasury currency -3.6 -.5 -.7
57 Foreign deposits 181.5 (r) -121.2 24.8
58 Net interbank liabilities 16.7 13.6 8.3
59 Security repurchase
agreements -161.7 (r) 171.9 36.6
60 Taxes payable 4.4 (r) -9.7 12.9
61 Miscellaneous 27.3 (r) -477.6 -87.0
Floats not included in
assets (-)
62 Federal government
checkable deposits -29.8 10.1 18.5
63 Other checkable deposits 3.8 3.9 5.1
64 Trade credit 20.0 (r) 32.3 -10.7
65 Total identified to
sectors as assets 3,942.5 (r) 4,099.7 4,741.5
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (1)
Billions of dollars, end of period
Transaction category
or sector 1996 1997 1998
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 14,441.1 (r) 15,245.1 (r) 16,293.9 (r)
By sector and
instrument
2 Federal government 3,781.8 3,804.9 3,752.2
3 Treasury securities 3,755.1 3,778.3 3,723.7
4 Budget agency securi-
ties and mortgages 26.6 26.5 28.5
5 Nonfederal 10,659.4 (r) 11,440.2 (r) 12,541.7 (r)
By instrument
6 Commercial paper 156.4 168.6 193.0
7 Municipal securities
and loans 1,296.0 1,367.5 1,464.3
8 Corporate bonds 1,460.4 1,610.9 1,829.6
9 Bank loans n.e.c. 934.0 (r) 1,040.4 (r) 1,148.5 (r)
10 Other loans and
advances 765.6 (r) 825.1 (r) 907.2 (r)
11 Mortgages 4,832.9 (r) 5,156.2 (r) 5,652.6 (r)
12 Home 3,720.0 (r) 3,978.3 (r) 4,368.2 (r)
13 Multifamily
residential 278.2 285.7 (r) 309.5 (r)
14 Commercial 747.8 802.2 (r) 878.3 (r)
15 Farm 86.9 90.0 96.6
16 Consumer credit 1,214.1 (r) 1,271.6 (r) 1,346.6 (r)
By borrowing sector
17 Households 5,223.9 (r) 5,556.9 (r) 6,024.1 (r)
18 Nonfinancial business 4,372.0 (r) 4,763.8 (r) 5,317.8 (r)
19 Corporate 3,093.0 (r) 3,383.9 (r) 3,790.2 (r)
20 Nonfarm noncorporate 1,129.3 (r) 1,224.0 (r) 1,363.7 (r)
21 Farm 149.7 155.9 163.9
22 State and local
government 1,063.4 1,119.5 1,199.8
23 Foreign credit market
debt held in United
States 542.2 608.0 651.5
24 Commercial paper 67.5 65.1 72.9
25 Bonds 366.3 427.7 462.6
26 Bank loans n.e.c. 43.7 52.1 58.9
27 Other loans and
advances 64.7 63.0 57.2
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 14,983.3 (r) 15,853.1 (r) 16,945.4 (r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 4,828.8 (r) 5,458.0 (r) 6,545.2 (r)
By instrument
30 Federal government-
related 2,608.2 2,821.1 3,292.0
31 Government-sponsored
enterprise
securities 896.9 995.3 1,273.6
32 Mortgage pool
securities 1,711.3 1,825.8 2,018.4
33 Loans from U.S.
government .0 .0 .0
34 Private 2,220.6 (r) 2,636.9 (r) 3,253.2 (r)
35 Open market paper 579.1 745.7 906.7
36 Corporate bonds 1,382.7 (r) 1,568.6 (r) 1,878.7 (r)
37 Bank loans n.e.c. 64.0 77.3 (r) 107.5 (r)
38 Other loans and
advances 162.9 198.5 288.7
39 Mortgages 31.9 46.8 71.6
By borrowing sector
40 Commercial banks 113.6 140.6 188.6
41 Bank holding companies 150.0 168.6 193.5
42 Savings institutions 140.5 160.3 212.4
43 Credit unions .4 .6 1.1
44 Life insurance
companies 1.6 1.8 2.5
45 Government-sponsored
enterprises 896.9 995.3 1,273.6
46 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4
47 Issuers of asset-backed
securities (ABSs) 863.3 1,076.6 1,398.0
48 Brokers and dealers 27.3 35.3 42.5
49 Finance companies 534.5 (r) 568.3 (r) 625.5 (r)
50 Mortgage companies 20.6 160.0 17.7
51 Real estate investment
trusts (REITs) 56.5 96.1 158.8
52 Funding corporations 312.4 (r) 372.6 (r) 412.6 (r)
All sectors
53 Total credit market
debt, domestic and
foreign 19,812.1 (r) 21,311.1 (r) 23,490.6 (r)
54 Open market paper 803.0 979.4 1,172.6
55 U.S. government
securities 6,389.9 6,626.0 7,044.3
56 Municipal securities 1,296.0 1,367.5 1,464.3
57 Corporate and foreign
bonds 3,209.4 (r) 3,607.2 (r) 4,170.8 (r)
58 Bank loans n.e.c. 1,041.7 1,169.8 1,314.9
59 Other loans and
advances 993.2 (r) 1,086.6 (r) 1,253.0 (r)
60 Mortgages 4,864.8 (r) 5,203.0 (r) 5,724.2 (r)
61 Consumer credit 1214.1 (r) 1,271.6 (r) 1,346.6 (r)
2000
Transaction category
or sector 1999 Q1 Q2
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 17,428.5 (r) 17,658.2 (r) 17,839.9 (r)
By sector and
instrument
2 Federal government 3,681.0 3,653.5 3,464.0
3 Treasury securities 3,652.8 3,625.8 3,435.7
4 Budget agency securi-
ties and mortgages 28.3 27.8 28.2
5 Nonfederal 13,747.4 (r) 14,004.7 (r) 14,376.0 (r)
By instrument
6 Commercial paper 230.3 260.8 296.8
7 Municipal securities
and loans 1,532.5 1,539.2 1,551.6
8 Corporate bonds 2,059.5 2,106.0 2,144.5
9 Bank loans n.e.c. 1,231.2 (r) 1,258.7 (r) 1,306.9 (r)
10 Other loans and
advances 964.5 (r) 1,008.3 (r) 1,037.2 (r)
11 Mortgages 6,283.3 (r) 6,394.6 (r) 6,562.6 (r)
12 Home 4,803.4 (r) 4,879.4 (r) 5,005.1 (r)
13 Multifamily
residential 350.2 (r) 357.5 (r) 369.5 (r)
14 Commercial 1,027.3 (r) 1,053.4 (r) 1,081.2 (r)
15 Farm 102.3 104.2 106.8
16 Consumer credit 1,446.1 (r) 1,437.0 (r) 1,476.5 (r)
By borrowing sector
17 Households 6,541.5 (r) 6,608.3 (r) 6,772.9 (r)
18 Nonfinancial business 5,953.8 (r) 6,139.1 (r) 6,337.4 (r)
19 Corporate 4,265.3 (r) 4,415.3 (r) 4,562.2 (r)
20 Nonfarm noncorporate 1,519.1 (r) 1,553.1 (r) 1,599.1 (r)
21 Farm 169.4 170.7 176.2
22 State and local
government 1,252.1 1,257.3 1,265.7
23 Foreign credit market
debt held in United
States 679.6 707.9 (r) 702.5 (r)
24 Commercial paper 89.2 101.6 101.2
25 Bonds 479.4 491.3 (r) 484.5 (r)
26 Bank loans n.e.c. 59.4 63.3 64.7
27 Other loans and
advances 51.7 51.7 52.1
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 18,108.1 (r) 18,366.1 (r) 18,542.5 (r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 7,629.6 (r) 7,769.2 (r) 7,993.5 (r)
By instrument
30 Federal government-
related 3,884.0 3,940.1 4,035.3
31 Government-sponsored
enterprise
securities 1,591.7 1,618.0 1,680.2
32 Mortgage pool
securities 2,292.2 2,322.1 2,355.2
33 Loans from U.S.
government .0 .0 .0
34 Private 3,745.6 (r) 3,829.1 (r) 3,958.1 (r)
35 Open market paper 1,082.9 1,115.7 1,135.2
36 Corporate bonds 2,096.9 (r) 2,138.8 (r) 2,212.0 (r)
37 Bank loans n.e.c. 93.2 (r) 91.8 (r) 93.1 (r)
38 Other loans and
advances 395.8 404.4 436.9
39 Mortgages 76.7 78.5 81.0
By borrowing sector
40 Commercial banks 230.0 242.2 265.4
41 Bank holding companies 219.3 221.4 229.3
42 Savings institutions 260.4 266.9 280.7
43 Credit unions 3.4 2.6 2.9
44 Life insurance
companies 3.2 3.0 2.7
45 Government-sponsored
enterprises 1,591.7 1,618.0 1,680.2
46 Federally related
mortgage pools 2,292.2 2,322.1 2,355.2
47 Issuers of asset-backed
securities (ABSs) 1,621.4 1,655.8 1,697.0
48 Brokers and dealers 25.3 36.4 36.2
49 Finance companies 695.7 (r) 708.4 (r) 740.8 (r)
50 Mortgage companies 17.8 17.1 17.8
51 Real estate investment
trusts (REITs) 165.1 167.9 170.4
52 Funding corporations 504.0 (r) 507.4 (r) 515.0 (r)
All sectors
53 Total credit market
debt, domestic and
foreign 25,737.7 (r) 26,135.3 (r) 26,535.9 (r)
54 Open market paper 1,402.4 1,478.1 1,533.3
55 U.S. government
securities 7,565.0 7,593.6 7,499.3
56 Municipal securities 1,532.5 1,539.2 1,551.6
57 Corporate and foreign
bonds 4,635.8 (r) 4,736.1 (r) 4,841.0 (r)
58 Bank loans n.e.c. 1,383.8 1,413.7 1,464.6
59 Other loans and
advances 14,120.0 (r) 1,464.4 (r) 1,526.2 (r)
60 Mortgages 6,360.0 (r) 6,473.1 (r) 6,643.5 (r)
61 Consumer credit 1,446.1 (r) 1,437.0 (r) 1,476.5 (r)
2000 2001
Transaction category
or sector Q3 Q4 Q1 (r)
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 18,038.3 (r) 18,320.9 (r) 18,563.5
By sector and
instrument
2 Federal government 3,410.2 3,385.2 3,408.8
3 Treasury securities 3,382.6 3,357.8 3,382.1
4 Budget agency securi-
ties and mortgages 27.6 27.3 26.8
5 Nonfederal 14,628.1 (r) 14,935.7 (r) 15,154.7
By instrument
6 Commercial paper 307.0 278.4 253.2
7 Municipal securities
and loans 1,550.3 1,567.8 1,597.5
8 Corporate bonds 2,186.7 (r) 2,230.6 (r) 2,330.8
9 Bank loans n.e.c. 1,311.3 (r) 1,334.2 (r) 1,323.9
10 Other loans and
advances 1,039.5 (r) 1,077.1 (r) 1,083.4
11 Mortgages 6,713.9 (r) 6,854.5 (r) 6,980.6
12 Home 5,124.3 (r) 5,225.9 (r) 5,319.5
13 Multifamily
residential 376.7 (r) 387.2 (r) 397.0
14 Commercial 1,104.5 (r) 1,132.5 (r) 1,154.2
15 Farm 108.3 108.8 (r) 109.9
16 Consumer credit 1,519.6 (r) 1,593.1 (r) 1,585.3
By borrowing sector
17 Households 6,938.9 (r) 7,115.5 (r) 7,186.3
18 Nonfinancial business 6,426.2 (r) 6,540.9 (r) 6,660.9
19 Corporate 4,618.0 (r) 4,695.9 (r) 4,785.7
20 Nonfarm noncorporate 1,630.3 (r) 1,664.8 (r) 1,695.5
21 Farm 177.9 180.2 (r) 179.7
22 State and local
government 1,263.1 1,279.3 1,307.5
23 Foreign credit market
debt held in United
States 731.0 (r) 746.7 (r) 743.4
24 Commercial paper 109.8 120.9 112.8
25 Bonds 502.4 (r) 504.6 (r) 508.9
26 Bank loans n.e.c. 67.7 70.7 73.9
27 Other loans and
advances 51.2 50.5 47.7
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 18,769.3 (r) 19,067.6 (r) 19,306.9
Financial sectors
29 Total credit market
debt owed by
financial sectors 8,190.8 (r) 8,457.1 (r) 8,657.3
By instrument
30 Federal government-
related 4,164.0 4,317.4 4,422.9
31 Government-sponsored
enterprise
securities 1,749.7 1,825.8 1,888.7
32 Mortgage pool
securities 2,414.3 2,491.6 2,534.2
33 Loans from U.S.
government .0 .0 .0
34 Private 4,026.7 (r) 4,139.7 (r) 4,234.4
35 Open market paper 1,151.6 1,210.7 1,180.8
36 Corporate bonds 2,269.7 (r) 2,314.8 (r) 2,424.3
37 Bank loans n.e.c. 92.8 (r) 93.0 (r) 97.3
38 Other loans and
advances 430.2 467.2 450.9
39 Mortgages 82.5 82.9 81.1
By borrowing sector
40 Commercial banks 265.2 266.7 273.8
41 Bank holding companies 236.9 242.5 266.5
42 Savings institutions 276.0 287.7 295.1
43 Credit unions 3.1 3.4 3.2
44 Life insurance
companies 2.7 2.5 1.9
45 Government-sponsored
enterprises 1,749.7 1,825.8 1,888.7
46 Federally related
mortgage pools 2,414.3 2,491.6 2,534.2
47 Issuers of asset-backed
securities (ABSs) 1,742.3 1,829.6 1,893.7
48 Brokers and dealers 42.6 40.9 35.0
49 Finance companies 761.8 (r) 776.9 (r) 756.2
50 Mortgage companies 17.7 17.9 18.1
51 Real estate investment
trusts (REITs) 169.8 167.8 166.2
52 Funding corporations 508.7 (r) 503.7 (r) 524.7
All sectors
53 Total credit market
debt, domestic and
foreign 26,960.1 (r) 27,524.7 (r) 27,964.2
54 Open market paper 1,568.3 1,610.0 1,546.8
55 U.S. government
securities 7,574.2 7,702.6 7,831.7
56 Municipal securities 1,550.3 1,567.8 1,597.5
57 Corporate and foreign
bonds 4,958.7 (r) 5,050.0 (r) 5,264.0
58 Bank loans n.e.c. 1,471.7 1,497.9 1,495.1
59 Other loans and
advances 1,520.9 (r) 1,565.9 (r) 1,582.0
60 Mortgages 6,796.4 (r) 6,937.4 (r) 7,061.7
61 Consumer credit 1,519.6 (r) 1,593.1 (r) 1,585.3
2001
Transaction category
or sector Q2 (r) Q3
Nonfinancial sectors
1 Total credit market
debt owed by domestic
nonfinancial sectors 18,746.8 19,054.8
By sector and
instrument
2 Federal government 3,251.4 3,320.1
3 Treasury securities 3,224.4 3,293.1
4 Budget agency securi-
ties and mortgages 27.0 27.0
5 Nonfederal 15,495.3 15,734.8
By instrument
6 Commercial paper 223.3 201.3
7 Municipal securities
and loans 1,629.8 1,635.3
8 Corporate bonds 2,437.8 2,484.7
9 Bank loans n.e.c. 1,292.9 1,282.9
10 Other loans and
advances 1,110.6 1,116.0
11 Mortgages 7,192.8 7,391.9
12 Home 5,477.9 5,623.1
13 Multifamily
residential 410.9 425.3
14 Commercial 1,190.9 1,228.9
15 Farm 113.1 114.6
16 Consumer credit 1,608.1 1,622.8
By borrowing sector
17 Households 7,362.9 7,531.7
18 Nonfinancial business 6,794.6 6,862.4
19 Corporate 4,881.5 4,922.8
20 Nonfarm noncorporate 1,727.9 1,753.9
21 Farm 185.2 185.8
22 State and local
government 1,337.8 1,340.6
23 Foreign credit market
debt held in United
States 727.8 698.5
24 Commercial paper 110.1 106.3
25 Bonds 504.9 479.6
26 Bank loans n.e.c. 66.2 67.3
27 Other loans and
advances 46.6 45.3
28 Total credit market
debt owed by non-
financial sectors,
domestic and foreign 19,474.6 19,753.3
Financial sectors
29 Total credit market
debt owed by
financial sectors 8,856.2 9,121.0
By instrument
30 Federal government-
related 4,591.6 4,796.8
31 Government-sponsored
enterprise
securities 1,955.8 2,037.8
32 Mortgage pool
securities 2,635.8 2,759.0
33 Loans from U.S.
government .0 .0
34 Private 4,264.6 4,324.3
35 Open market paper 1,144.5 1,110.2
36 Corporate bonds 2,483.9 2,563.8
37 Bank loans n.e.c. 100.4 100.0
38 Other loans and
advances 450.7 467.2
39 Mortgages 85.1 83.0
By borrowing sector
40 Commercial banks 274.7 283.0
41 Bank holding companies 269.0 273.8
42 Savings institutions 294.4 303.9
43 Credit unions 3.5 3.8
44 Life insurance
companies 1.9 2.8
45 Government-sponsored
enterprises 1,955.8 2,037.8
46 Federally related
mortgage pools 2,635.8 2,759.0
47 Issuers of asset-backed
securities (ABSs) 1,942.4 2,020.2
48 Brokers and dealers 43.9 47.0
49 Finance companies 769.0 771.3
50 Mortgage companies 18.2 18.5
51 Real estate investment
trusts (REITs) 168.9 166.3
52 Funding corporations 478.6 433.6
All sectors
53 Total credit market
debt, domestic and
foreign 28,330.8 28,874.3
54 Open market paper 1,477.9 1,417.8
55 U.S. government
securities 7,843.0 8,116.8
56 Municipal securities 1,629.8 1,635.3
57 Corporate and foreign
bonds 5,426.6 5,528.1
58 Bank loans n.e.c. 1,459.5 1,450.2
59 Other loans and
advances 1,607.9 1,628.5
60 Mortgages 7,277.9 7,474.9
61 Consumer credit 1,608.1 1,622.8
(1.) Data in this table appear in the Board's Z.1 (780) quarterly
statistical release, tables L.2 through L.4. For ordering address,
see inside front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction category
or sector 1996 1997 1998
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 19,812.1 (r) 21,311.1 (r) 23,490.6 (r)
2 Domestic nonfederal
nonfinancial
sectors 3,011.5 (r) 2,946.5 (r) 3,017.7 (r)
3 Household 2,086.8 (r) 2,031,3 (r) 1,967.7 (r)
4 Nonfinancial corpo- 270.2 257.5 241.5
rate business
5 Nonfarm noncorporate
business 49.7 52.7 69.1
6 State and local
governments 604.8 605.0 739.4
7 Federal government 200.2 205.4 219.1
8 Rest of the world 1,926.6 2,257.3 2,539.8
9 Financial sectors 14,673.8 (r) 15,901.8 (r) 17,714.0 (r)
10 Monetary authority 393.1 431.4 452.5
11 Commercial banking 3,707.7 4,031.9 4,335.7
12 U.S.-chartered
banks 3,175.8 3,450.7 3,761.2
13 Foreign banking
offices in United
States 475.8 516.1 504.2
14 Bank holding
companies 22.0 27.4 26.5
15 Banks in U.S.-
affiliated areas 34.1 37.8 43.8
16 Savings institutions 933.2 928.5 964.6
17 Credit unions 288.5 305.3 324.2
18 Bank personal trusts
and estates 232.0 207.0 194.1
19 Life insurance
companies 1,657.0 1,751.1 1,828.0
20 Other insurance
companies 491.2 515.3 521.1
21 Private pension funds 627.0 674.6 731.0
22 State and local
government retirement
funds 565.4 632.5 704.6
23 Money market mutual
funds 634.3 721.9 965.9
24 Mutual funds 820.2 901.1 1,025.9
25 Closed-end funds 100.8 98.3 103.7
26 Government-sponsored
enterprises 832.8 939.4 1,253.9
27 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4
28 Asset-backed securities
(ABSs) issuers 773.9 937.7 1,219.4
29 Finance companies 545.1 (r) 568.2 (r) 645.5 (r)
30 Mortgage companies 41.2 32.1 35.3
31 Real estate investment
trusts (REITs) 30.4 50.6 45.5
32 Brokers and dealers 167.7 182.6 189.4
33 Funding corporations 121.0 166.7 155.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 19,812.1 (r) 21,311.1 (r) 23,490.6 (r)
Other liabilities
35 Official foreign
exchange 53.7 48.9 60.1
36 Special drawing rights
certificates 9.7 9.2 9.2
37 Treasury currency 18.9 19.3 19.9
38 Foreign deposits 521.7 618.5 642.3
39 Net interbank
liabilities 240.8 219.4 189.0
40 Checkable deposits and
currency 1,244.8 1,286.1 1,333.4
41 Small time and savings
deposits 2,377.0 2,474.1 2,626.5
42 Large time deposits 590.9 713.4 805.5
43 Money market fund
shares 886.7 1,042.5 1,329.7
44 Security repurchase
agreements 701.5 822.4 913.7
45 Mutual fund shares 2,342.4 2,989.4 3,610.5
46 Security credit 358.1 469.1 572.3
47 Life insurance reserves 610.6 665.0 718.3
48 Pension fund reserves 6,325.1 7,323.4 8,193.7
49 Trade payables 1,827.6 1,967.3 2,076.5
50 Taxes payable 128.8 151.1 172.4
51 Investment in bank
personal trusts 871.3 942.5 1,001.0
52 Miscellaneous 6,387.1 (r) 6,730.7 (r) 7,692.9 (r)
53 Total liabilities 45,308.7 (r) 49,803.3 (r) 55,457.6 (r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.1 21.6
55 Corporate equities 10,281.6 (r) 13,301.7 (r) 15,577.3 (r)
56 Household equity in
noncorporate business 3,786.6 (r) 4,051.0 (r) 4,394.1 (r)
Liabilities not identi-
fied as assets (-)
57 Treasury currency -6.1 -6.3 -6.4
58 Foreign deposits 434.9 (r) 535.0 (r) 542.8 (r)
59 Net interbank
transactions -10.6 -32.2 -27.0
60 Security repurchase
agreements 109.8 172.9 233.5
61 Taxes payable 81.9 104.2 122.9
62 Miscellaneous -1,226.5 (r) -1,548.9 (r) -2,323.1 (r)
Floats not included in
assets (-)
63 Federal government
checkable deposits -1.6 -8.1 -3.9
64 Other checkable
deposits 30.1 26.2 23.1
65 Trade credit 165.7 126.8 76.6
66 Totals identified to
sectors as assets 59,820.7 (r) 67,807.3 (r) 76,812.0 (r)
2000
Transaction category
or sector 1999 Q1 Q2
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 25,737.7 (r) 26,135.3 (r) 26,535.9 (r)
2 Domestic nonfederal
nonfinancial
sectors 3,284.1 (r) 3,205.6 (r) 3,209.3 (r)
3 Household 2,184.5 (r) 2,114.4 (r) 2,089.7 (r)
4 Nonfinancial corpo- 238.7 230.8 246.1 (r)
rate business
5 Nonfarm noncorporate
business 78.0 77.5 77.6
6 State and local
governments 782.8 782.9 795.8
7 Federal government 258.0 259.6 261.6
8 Rest of the world 2,676.2 2,760.7 2,809.9
9 Financial sectors 19,519.4 (r) 19,909.4 (r) 20,255.2 (r)
10 Monetary authority 478.1 501.9 505.1
11 Commercial banking 4,643.9 4,725.0 4,847.4
12 U.S.-chartered
banks 4,078.9 4,171.3 4,295.4
13 Foreign banking
offices in United
States 484.1 482.0 478.1
14 Bank holding
companies 32.7 22.1 23.0
15 Banks in U.S.-
affiliated areas 48.3 49.6 51.0
16 Savings institutions 1,033.2 1,045.8 1,062.5
17 Credit unions 351.7 359.0 370.1
18 Bank personal trusts
and estates 222.0 226.7 230.2
19 Life insurance
companies 1,886.0 1,902.2 1,914.1
20 Other insurance
companies 518.2 515.4 510.8
21 Private pension funds 775.9 787.6 793.8
22 State and local
government retirement
funds 751.4 767.2 775.1
23 Money market mutual
funds 1,147.8 1,217.1 1,159.4
24 Mutual funds 1,073.1 1,053.7 1,073.9
25 Closed-end funds 111.1 109.0 106.9
26 Government-sponsored
enterprises 1,545.6 1,584.0 1,649.2
27 Federally related
mortgage pools 2,292.2 2,322.1 2,355.2
28 Asset-backed securities
(ABSs) issuers 1,424.6 1,453.8 1,486.3
29 Finance companies 742.5 (r) 776.6 (r) 812.3 (r)
30 Mortgage companies 35.6 34.1 35.5
31 Real estate investment
trusts (REITs) 42.9 38.8 38.2
32 Brokers and dealers 154.7 194.8 (r) 188.2 (r)
33 Funding corporations 288.8 294.5 341.0 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 25,737.7 (r) 26,135.3 (r) 26,535.9 (r)
Other liabilities
35 Official foreign
exchange 50.1 46.6 (r) 46.0 (r)
36 Special drawing rights
certificates 6.2 6.2 4.2
37 Treasury currency 20.9 21.4 22.1
38 Foreign deposits 703.6 781.9 782.8
39 Net interbank
liabilities 204.5 169.7 210.6
40 Checkable deposits and
currency 1,484.8 1,392.9 1,409.7
41 Small time and savings
deposits 2,671.2 2,728.0 2,738.8
42 Large time deposits 936.1 966.5 987.4
43 Money market fund
shares 1,578.8 1,666.0 1,627.1
44 Security repurchase
agreements 1,083.4 1,149.4 (r) 1,185.2 (r)
45 Mutual fund shares 4,553.4 4,863.3 4,759.6
46 Security credit 676.6 801.1 (r) 780.3 (r)
47 Life insurance reserves 783.9 801.0 806.5
48 Pension fund reserves 9,041.7 9,237.9 9,166.7
49 Trade payables 2,298.8 2,321.7 2,371.6 (r)
50 Taxes payable 194.7 210.1 211.4 (r)
51 Investment in bank
personal trusts 1,130.4 1,158.0 1,114.4
52 Miscellaneous 8,269.8 (r) 8,464.3 (r) 8,731.9 (r)
53 Total liabilities 61,426.6 (r) 62,921.3 (r) 63,492.5 (r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.4 21.5
55 Corporate equities 19,581.2 (r) 20,276.3 (r) 19,395.9 (r)
56 Household equity in
noncorporate business 4,623.6 (r) 4,652.1 (r) 4,745.9 (r)
Liabilities not identi-
fied as assets (-)
57 Treasury currency -7.1 -7.6 -7.9
58 Foreign deposits 588.9 (r) 654.7 (r) 634.2 (r)
59 Net interbank
transactions -25.5 -13.9 -11.6
60 Security repurchase
agreements 263.6 410.5 (r) 423.0 (r)
61 Taxes payable 122.7 118.7 (r) 134.5 (r)
62 Miscellaneous -2,740.5 (r) -2,908.3 (r) -2,939.4 (r)
Floats not included in
assets (-)
63 Federal government
checkable deposits -9.9 -9.2 (r) -5.6 (r)
64 Other checkable
deposits 22.3 18.7 22.5
65 Trade credit 120.9 50.2 (r) 16.5 (r)
66 Totals identified to
sectors as assets 87,317.3 (r) 89,557.3 (r) 89,389.6 (r)
2000 2001
Transaction category
or sector Q3 Q4 Q1
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 26,960.1 (r) 27,524.7 (r) 27,964.2 (r)
2 Domestic nonfederal
nonfinancial
sectors 3,144.7 (r) 3,094.4 (r) 3,021.4 (r)
3 Household 2,040.3 (r) 1,977.4 (r) 1,928.0 (r)
4 Nonfinancial corpo- 239.0 (r) 249.1 (r) 226.3 (r)
rate business
5 Nonfarm noncorporate
business 76.6 75.9 74.7
6 State and local
governments 788.7 792.0 792.4
7 Federal government 262.7 265.4 266.6
8 Rest of the world 2,861.7 3,004.6 3,113.0 (r)
9 Financial sectors 20,691.0 (r) 21,160.3 (r) 21,563.2 (r)
10 Monetary authority 511.5 511.8 523.9
11 Commercial banking 4,931.0 5,002.3 5,015.7
12 U.S.-chartered
banks 4,368.2 4,418.7 4,424.4
13 Foreign banking
offices in United
States 487.5 508.1 515.0
14 Bank holding
companies 21.3 20.5 22.3
15 Banks in U.S.-
affiliated areas 54.0 55.0 54.1
16 Savings institutions 1,082.2 1,089.7 1,101.6
17 Credit unions 376.0 382.2 386.5 (r)
18 Bank personal trusts
and estates 234.6 239.1 241.8
19 Life insurance
companies 1,935.1 1,943.9 1,967.2
20 Other insurance
companies 512.4 509.4 510.0
21 Private pension funds 810.0 817.2 823.7
22 State and local
government retirement
funds 784.5 806.0 (r) 788.3 (r)
23 Money market mutual
funds 1,212.5 1,296.7 1,403.8
24 Mutual funds 1,088.5 1,099.9 1,113.8
25 Closed-end funds 104.8 102.7 100.6
26 Government-sponsored
enterprises 1,704.3 1,793.7 1,864.7 (r)
27 Federally related
mortgage pools 2,414.3 2,491.6 2,534.2
28 Asset-backed securities
(ABSs) issuers 1,522.9 1,602.9 1,660.5
29 Finance companies 830.0 (r) 850.5 (r) 848.0 (r)
30 Mortgage companies 35.4 35.9 36.2
31 Real estate investment
trusts (REITs) 37.3 36.6 37.6
32 Brokers and dealers 243.3 223.6 312.3 (r)
33 Funding corporations 320.4 (r) 324.7 (r) 292.7 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 26,960.1 (r) 27,524.7 (r) 27,964.2 (r)
Other liabilities
35 Official foreign
exchange 44.9 46.1 (r) 42.8 (r)
36 Special drawing rights
certificates 3.2 2.2 2.2
37 Treasury currency 23.2 23.2 22.9
38 Foreign deposits 772.6 824.5 883.4
39 Net interbank
liabilities 173.2 188.0 155.1 (r)
40 Checkable deposits and
currency 1,385.7 1,413.3 1,385.2
41 Small time and savings
deposits 2,790.9 2,861.9 2,965.3
42 Large time deposits 1,025.9 1,054.5 1,078.0
43 Money market fund
shares 1,697.8 1,812.1 1,994.7
44 Security repurchase
agreements 1,238.6 (r) 1,194.1 (r) 1,199.7 (r)
45 Mutual fund shares 4,814.4 4,457.2 3,999.8
46 Security credit 805.8 (r) 822.7 (r) 785.4 (r)
47 Life insurance reserves 818.7 819.1 823.0
48 Pension fund reserves 9,307.9 9,054.8 8,588.9 (r)
49 Trade payables 2,418.2 (r) 2,464.9 (r) 2,436.3 (r)
50 Taxes payable 214.7 (r) 216.4 224.8 (r)
51 Investment in bank
personal trusts 1,106.7 1,019.4 929.1
52 Miscellaneous 9,221.0 (r) 9,104.9 (r) 9,536.4 (r)
53 Total liabilities 64,823.6 (r) 64,903.9 (r) 65,017.3 (r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.6 (r) 21.4 (r)
55 Corporate equities 19,249.0 (r) 17,566.4 (r) 15,311.6 (r)
56 Household equity in
noncorporate business 4,782.7 (r) 4,850.2 (r) 4,882.4 (r)
Liabilities not identi-
fied as assets (-)
57 Treasury currency -7.6 -8.5 -9.4
58 Foreign deposits 609.1 (r) 659.3 (r) 704.6 (r)
59 Net interbank
transactions -17.6 -4.3 1.7
60 Security repurchase
agreements 446.0 374.6 (r) 353.7 (r)
61 Taxes payable 124.4 128.4 (r) 113.3 (r)
62 Miscellaneous -2,727.8 (r) -3,224.6 (r) -3,066.2 (r)
Floats not included in
assets (-)
63 Federal government
checkable deposits -7.8 -2.3 (r) -22.3 (r)
64 Other checkable
deposits 15.5 24.0 21.1
65 Trade credit 6.0 91.6 (r) 38.4 (r)
66 Totals identified to
sectors as assets 90,436.5 (r) 89,303.8 (r) 87,097.8 (r)
2001
Transaction category
or sector Q2 (r) Q3
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 28,330.8 28,874.3
2 Domestic nonfederal
nonfinancial
sectors 2,964.3 2,914.0
3 Household 1,869.6 1,832.7
4 Nonfinancial corpo- 232.1 231.1
rate business
5 Nonfarm noncorporate
business 73.4 71.9
6 State and local
governments 789.1 778.3
7 Federal government 267.6 267.8
8 Rest of the world 3,200.4 3,293.2
9 Financial sectors 21,898.6 22,399.3
10 Monetary authority 535.1 534.1
11 Commercial banking 5,044.4 5,096.5
12 U.S.-chartered
banks 4,463.2 4,508.8
13 Foreign banking
offices in United
States 504.2 509.9
14 Bank holding
companies 21.6 21.3
15 Banks in U.S.-
affiliated areas 55.5 56.5
16 Savings institutions 1,116.4 1,119.0
17 Credit unions 391.8 407.8
18 Bank personal trusts
and estates 245.1 247.3
19 Life insurance
companies 1,996.9 2,040.0
20 Other insurance
companies 510.0 512.3
21 Private pension funds 822.0 821.7
22 State and local
government retirement
funds 801.7 806.3
23 Money market mutual
funds 1,414.6 1,498.0
24 Mutual funds 1,160.1 1,193.0
25 Closed-end funds 98.5 96.4
26 Government-sponsored
enterprises 1,941.1 2,009.5
27 Federally related
mortgage pools 2,635.8 2,759.0
28 Asset-backed securities
(ABSs) issuers 1,703.7 1,774.7
29 Finance companies 878.5 859.4
30 Mortgage companies 36.5 36.9
31 Real estate investment
trusts (REITs) 37.9 39.8
32 Brokers and dealers 288.4 369.9
33 Funding corporations 240.1 177.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 28,330.8 28,874.3
Other liabilities
35 Official foreign
exchange 43.4 49.0
36 Special drawing rights
certificates 2.2 2.2
37 Treasury currency 23.2 23.2
38 Foreign deposits 846.8 850.6
39 Net interbank
liabilities 163.1 176.8
40 Checkable deposits and
currency 1,416.8 1,453.0
41 Small time and savings
deposits 2,992.3 3,047.1
42 Large time deposits 1,087.1 1,090.4
43 Money market fund
shares 2,014.8 2,116.1
44 Security repurchase
agreements 1,240.5 1,287.8
45 Mutual fund shares 4,275.3 3,705.2
46 Security credit 781.5 904.6
47 Life insurance reserves 840.3 841.5
48 Pension fund reserves 8,849.7 8,281.0
49 Trade payables 2,406.9 2,412.2
50 Taxes payable 224.0 254.9
51 Investment in bank
personal trusts 964.4 859.6
52 Miscellaneous 9,763.7 10,222.5
53 Total liabilities 66,266.6 66,452.1
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.5 22.0
55 Corporate equities 16,239.1 13,625.2
56 Household equity in
noncorporate business 4,893.8 4,897.1
Liabilities not identi-
fied as assets (-)
57 Treasury currency -9.5 -9.7
58 Foreign deposits 674.3 680.5
59 Net interbank
transactions 5.5 6.3
60 Security repurchase
agreements 396.2 394.1
61 Taxes payable 133.2 152.1
62 Miscellaneous -3,040.8 -2,760.7
Floats not included in
assets (-)
63 Federal government
checkable deposits -40.1 -38.4
64 Other checkable
deposits 25.5 19.2
65 Trade credit 21.8 35.7
66 Totals identified to
sectors as assets 89,254.8 86,517.1
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables L.1 and L.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100, except as noted
2001
Measure 1998 1999 2000 Feb.
1 Industrial
production (1) 134.5 (r) 139.4 (r) 145.7 (r) 143.5 (r)
Market groups
2 Products, total 126.8 (r) 129.6 (r) 133.5 (r) 132.2 (r)
3 Final, total 128.9 (r) 131.8 (r) 135.8 (r) 134.7 (r)
4 Consumer goods 118.3 (r) 119.9 (r) 121.9 (r) 121.2 (r)
5 Equipment 148.1 (r) 153.5 (r) 161.8 (r) 159.8 (r)
6 Intermediate 120.2 (r) 123.2 (r) 126.4 (r) 124.4 (r)
7 Materials 146.9 (r) 155.6 (r) 166.4 (r) 162.5 (r)
Industry groups
8 Manufacturing 138.8 (r) 144.7 (r) 151.6 (r) 148.4 (r)
9 Capacity utiliza-
tion, manufactu-
ring (percent) (2) 81.4 (r) 80.6 (r) 80.7 (r) 77.2 (r)
10 Construction
contracts (3) 122.6 (r) 135.2 (r) 142.1 (r) 153.0 (r)
11 Nonagricultural
employment, total
(4) 115.9 118.6 121.0 122.1
12 Goods-producing,
total 109.4 109.7 110.5 110.3
13 Manufacturing,
total 103.9 102.4 101.8 100.5
14 Manufacturing,
production
workers 105.4 103.7 102.9 100.3
15 Service-producing 117.7 121.0 123.9 125.3
16 Personal income,
total 137.8 144.3 154.3 160.3
17 Wages and salary
disbursements 140.6 149.9 162.2 169.4
18 Manufacturing 129.7 134.0 142.3 146.3
19 Disposable
personal
income (5) 133.7 139.2 147.9 153.4
20 Retail sales (5) 142.8 155.1 167.0 170.4
Prices (6)
21 Consumer
(1982-84=100) 163.0 166.6 172.2 175.8
22 Producer finished
goods (1982=100) 130.7 133.0 138.0 141.4
2001
Measure Mar. Apr. May June (r)
1 Industrial
production (1) 142.9 (r) 142.0 (r) 141.6 (r) 140.3
Market groups
2 Products, total 132.1 (r) 131.0 (r) 130.9 (r) 130.0
3 Final, total 135.1 (r) 134.0 (r) 133.9 (r) 132.9
4 Consumer goods 121.8 (r) 121.3 (r) 121.4 (r) 121.1
5 Equipment 159.6 (r) 157.3 (r) 156.5 (r) 154.1
6 Intermediate 123.4 (r) 122.2 (r) 122.2 (r) 121.4
7 Materials 160.9 (r) 160.3 (r) 159.4 (r) 157.4
Industry groups
8 Manufacturing 147.9 (r) 146.7 (r) 146.4 (r) 145.0
9 Capacity utiliza-
tion, manufactu-
ring (percent) (2) 76.7 (r) 76.0 (r) 75.8 (r) 75.0
10 Construction
contracts (3) 141.0 (r) 144.0 (r) 147.0 (r) 151.0
11 Nonagricultural
employment, total
(4) 122.2 122.0 122.0 122.0
12 Goods-producing,
total 110.2 109.4 109.0 108.4
13 Manufacturing,
total 100.1 99.5 98.7 98.1
14 Manufacturing,
production
workers 99.7 99.0 98.2 97.3
15 Service-producing 125.4 125.4 125.6 125.6
16 Personal income,
total 161.0 161.3 161.6 162.1
17 Wages and salary
disbursements 170.1 170.8 170.7 171.5
18 Manufacturing 146.3 146.8 145.4 144.9
19 Disposable
personal
income (5) 154.1 154.5 154.8 155.2
20 Retail sales (5) 169.6 172.2 172.4 172.3
Prices (6)
21 Consumer
(1982-84=100) 176.2 176.9 177.7 178.0
22 Producer finished
goods (1982=100) 140.9 141.8 142.7 142.2
2001
Measure July (r) Aug. (r) Sept. Oct. (p)
1 Industrial
production (1) 140.4 139.8 138.5 136.9
Market groups
2 Products, total 130.3 129.1 127.7 126.4
3 Final, total 133.2 131.7 130.1 128.8
4 Consumer goods 122.2 120.9 120.0 119.5
5 Equipment 152.7 150.7 147.4 144.5
6 Intermediate 121.4 121.1 120.5 119.0
7 Materials 157.2 157.8 156.5 154.5
Industry groups
8 Manufacturing 145.2 144.4 142.9 141.1
9 Capacity utiliza-
tion, manufactu-
ring (percent) (2) 75.1 74.6 73.7 72.8
10 Construction
contracts (3) 143.0 142.0 149.0 148.0
11 Nonagricultural
employment, total
(4) 122.0 121.9 121.7 121.3
12 Goods-producing,
total 108.1 107.5 107.1 106.3
13 Manufacturing,
total 97.7 96.8 96.3 95.6
14 Manufacturing,
production
workers 96.8 95.9 95.3 94.5
15 Service-producing 125.7 125.9 125.7 125.4
16 Personal income,
total 162.7 162.8 162.8 162.7
17 Wages and salary
disbursements 171.8 171.8 171.9 171.4
18 Manufacturing 144.9 144.1 143.5 142.3
19 Disposable
personal
income (5) 158.0 161.0 159.1 156.4
20 Retail sales (5) 172.6 172.9 169.2 182.2
Prices (6)
21 Consumer
(1982-84=100) 177.5 177.5 178.3 177.7
22 Producer finished
goods (1982=100) 140.7 141.1 141.7 139.6
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in November 2001. The recent annual
revision will be described in an article in an upcoming issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Ratio of index of production to index of capacity. Based on data
from the Federal Reserve, U.S. Department of Commerce,
and other sources.
(3.) Index of dollar value of total construction contracts, including
residential, nonresidential, and heavy engineering, from McGraw-Hill
Information Systems Company, F.W. Dodge Division.
(4.) Based on data from the U.S. Department of Labor, Employment and
Earnings. Series covers employees only, excluding personnel in the
armed forces.
(5.) Based on data from U.S. Department of Commerce, Survey of
Current Business.
(6.) Based on data not seasonally adjusted. Seasonally adjusted data
for changes in the price indexes can be obtained from the U.S.
Department of Labor, Bureau of Labor Statistics, Monthly Labor Review.
NOTE. Basic data (not indexes) for series mentioned in notes 4 and 5,
and indexes for series mentioned in notes 3 and 6, can also be found
in the Survey of Current Business.
2.11 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Thousands of persons; monthly data seasonally adjusted
Category 1998 1999 2000
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 137,673 139,368 140,863
Employment
2 Nonagricultural
industries (3) 128,085 130,207 131,903
3 Agriculture 3,378 3,281 3,305
Unemployment
4 Number 6,210 5,880 5,655
5 Rate (percent of civilian
labor force) 4.5 4.2 4.0
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 125,865 128,786 131,417
7 Manufacturing 18,805 18,543 18,437
8 Mining 590 535 538
9 Contract construction 6,020 6,404 6,687
10 Transportation and public
utilities 6,611 6,826 6,993
11 Trade 29,095 29,712 30,191
12 Finance 7,389 7,569 7,618
13 Service 37,533 39,027 40,384
14 Government 19,823 20,170 20,570
2001
Category Mar. Apr. May June
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,868 141,757 141,272 141,354
Employment
2 Nonagricultural
industries (3) 132,618 132,162 131,910 131,937
3 Agriculture 3,161 3,192 3,193 2,995
Unemployment
4 Number 6,088 6,402 6,169 6,422
5 Rate (percent of civilian
labor force) 4.3 4.5 4.4 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,654 132,489 132,530 132,431
7 Manufacturing 18,116 18,009 17,879 17,757
8 Mining 557 560 564 565
9 Contract construction 6,929 6,852 6,881 6,864
10 Transportation and public
utilities 7,127 7,119 7,130 7,118
11 Trade 30,523 30,583 30,584 30,583
12 Finance 7,618 7,626 7,644 7,631
13 Service 41,073 40,993 41,078 41,085
14 Government 20,711 20,747 20,770 20,828
2001
Aug. Oct.
Category July (r) Sept. (p)
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,774 141,350 142,190 142,303
Employment
2 Nonagricultural
industries (3) 132,334 131,276 131,961 131,362
3 Agriculture 3,045 3,117 3,220 3,200
Unemployment
4 Number 6,395 6,957 7,009 7,741
5 Rate (percent of civilian
labor force) 4.5 4.9 4.9 5.4
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,449 132,395 132,182 131,767
7 Manufacturing 17,688 17,533 17,443 17,301
8 Mining 567 569 568 566
9 Contract construction 6,867 6,861 6,862 6,832
10 Transportation and public
utilities 7,108 7,082 7,062 7,007
11 Trade 30,623 30,593 30,510 30,406
12 Finance 7,618 7,623 7,628 7,633
13 Service 41,046 41,129 41,106 40,995
14 Government 20,932 21,005 21,003 21,027
(1.) Beginning January 1994, reflects redesign of current population
survey and population controls from the 1990 census.
(2.) Persons sixteen years of age and older, including Resident Armed
Forces. Monthly figures are based on sample data collected during the
calendar week that contains the twelfth day; annual data are averages
of monthly figures. By definition, seasonality does not exist in
population figures.
(3.) Includes self-employed, unpaid family, and domestic service
workers.
(4.) Includes all full- and part-time employees who worked during, or
received pay for, the pay period that includes the twelfth day of the
month; excludes proprietors, self-employed persons, household and
unpaid family workers, and members of the armed forces. Data are
adjusted to the March 1992 benchmark, and only seasonally adjusted
data are available at this time.
SOURCE. Based on data from U.S. Department of Labor, Employment and
Earnings.
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION (1)
Seasonally adjusted
2000 2001
Series Q4 (r) Q1 (r) Q2 (r) Q3 (r)
Output (1992=100)
1 Total industry 145.7 143.5 141.3 139.6
2 Manufacturing 151.1 148.4 146.0 144.2
3 Primary processing (3) 177.2 172.0 168.9 166.9
4 Advanced processing (4) 136.7 135.3 133.3 131.5
5 Durable goods 189.7 185.0 181.9 178.3
6 Lumber and products 114.1 110.2 113.2 115.0
7 Primary metals 126.5 120.8 120.5 117.7
8 Iron and steel 119.6 113.7 117.3 116.3
9 Nonferrous 134.9 129.5 124.6 119.7
10 Industrial machinery and
equipment 229.1 226.9 217.0 208.5
11 Electrical machinery 566.8 544.2 509.2 483.7
12 Motor vehicles and parts 165.7 155.2 166.8 169.5
13 Aerospace and
miscellaneous trans-
portation equipment 100.1 100.2 99.0 95.6
14 Nondurable goods 114.2 113.2 111.5 111.0
15 Textile mill products 92.4 91.4 88.0 85.7
16 Paper and products 112.6 109.2 108.9 107.9
17 Chemicals and products 122.7 121.6 119.6 121.2
18 Plastics materials 115.7 121.0 116.4 125.0
19 Petroleum products 115.1 114.8 115.5 113.2
20 Mining 101.1 102.0 102.9 102.0
21 Utilities 124.6 123.5 120.0 118.8
22 Electric 126.2 125.6 123.6 122.5
2000 2001
Series Q4 (r) Q1 (r) Q2 (r) Q3 (r)
Capacity (percent of 1992 output)
1 Total industry 180.6 181.8 182.6 183.2
2 Manufacturing 191.0 192.3 193.2 193.6
3 Primary processing (3) 218.6 221.4 223.0 223.8
4 Advanced processing (4) 175.6 176.2 176.6 176.9
5 Durable goods 241.3 244.4 246.3 247.5
6 Lumber and products 147.6 148.2 148.5 148.8
7 Primary metals 151.2 151.0 150.8 150.6
8 Iron and steel 148.4 147.9 147.4 146.8
9 Nonferrous 155.0 155.1 155.3 155.6
10 Industrial machinery and
equipment 292.2 295.3 297.3 298.8
11 Electrical machinery 684.9 716.8 735.6 745.4
12 Motor vehicles and parts 217.2 218.7 220.1 221.5
13 Aerospace and
miscellaneous trans-
portation equipment 135.4 135.4 135.3 135.2
14 Nondurable goods 143.1 143.1 143.0 142.9
15 Textile mill products 119.4 118.4 117.4 116.4
16 Paper and products 138.2 138.5 138.7 138.8
17 Chemicals and products 157.9 158.1 158.3 158.5
18 Plastics materials 151.5 152.0 152.5 153.0
19 Petroleum products 121.9 122.0 122.2 122.4
20 Mining 111.9 111.9 112.0 112.2
21 Utilities 133.1 134.6 136.2 138.1
22 Electric 131.3 133.1 135.1 137.4
2000 2001
Series Q4 (r) Q1 (r) Q2 (r) Q3 (r)
Capacity utilization rate
(percent) (2)
1 Total industry 80.7 78.9 77.4 76.2
2 Manufacturing 79.1 77.2 75.6 74.4
3 Primary processing (3) 81.1 77.7 75.8 74.6
4 Advanced processing (4) 77.9 76.8 75.5 74.3
5 Durable goods 78.6 75.7 73.8 72.0
6 Lumber and products 77.3 74.4 76.2 77.3
7 Primary metals 83.6 80.0 79.9 78.2
8 Iron and steel 80.6 76.9 79.6 79.2
9 Nonferrous 87.0 83.5 80.2 77.0
10 Industrial machinery and
equipment 78.4 76.8 73.0 69.8
11 Electrical machinery 82.8 75.9 69.2 64.9
12 Motor vehicles and parts 76.3 71.0 75.8 76.5
13 Aerospace and
miscellaneous trans-
portation equipment 74.0 74.0 73.2 70.7
14 Nondurable goods 79.8 79.1 77.9 77.6
15 Textile mill products 77.4 77.2 74.9 73.6
16 Paper and products 81.5 78.9 78.5 77.7
17 Chemicals and products 77.7 76.9 75.6 76.5
18 Plastics materials 76.4 79.6 76.3 77.1
19 Petroleum products 94.5 94.1 94.5 92.5
20 Mining 90.3 91.1 91.8 90.8
21 Utilities 93.6 91.8 88.1 86.1
22 Electric 96.1 94.4 91.5 89.1
Previous
1973 1975 cycle (5)
Series High Low High Low
Capacity utilization rate
(percent) (2)
1 Total industry 89.2 72.6 87.3 71.1
2 Manufacturing 88.5 70.5 86.9 69.0
3 Primary processing (3) 91.2 68.2 88.1 66.2
4 Advanced processing (4) 87.2 71.8 86.7 70.4
5 Durable goods 89.2 68.9 87.7 63.9
6 Lumber and products 88.7 61.2 87.9 60.8
7 Primary metals 100.2 65.9 94.2 45.1
8 Iron and steel 105.8 66.6 95.8 37.0
9 Nonferrous 90.8 59.8 91.1 60.1
10 Industrial machinery and
equipment 96.0 74.3 93.2 64.0
11 Electrical machinery 89.2 64.7 89.4 71.6
12 Motor vehicles and parts 93.4 51.3 95.0 45.5
13 Aerospace and
miscellaneous trans-
portation equipment 78.4 67.6 81.9 66.6
14 Nondurable goods 87.8 71.7 87.5 76.4
15 Textile mill products 91.4 60.0 91.2 72.3
16 Paper and products 97.1 69.2 96.1 80.6
17 Chemicals and products 87.6 69.7 84.6 69.9
18 Plastics materials 102.0 50.6 90.9 63.4
19 Petroleum products 96.7 81.1 90.0 66.8
20 Mining 94.3 88.2 96.0 80.3
21 Utilities 96.2 82.9 89.1 75.9
22 Electric 99.0 82.7 88.2 78.9
Latest
cycle (6) 2000 2001
Series High Low Oct. May
Capacity utilization rate
(percent) (2)
1 Total industry 85.4 78.1 81.2 77.5 (r)
2 Manufacturing 85.7 76.6 79.8 75.8 (r)
3 Primary processing (3) 88.9 77.7 82.6 75.9 (r)
4 Advanced processing (4) 84.2 76.1 78.1 75.6 (r)
5 Durable goods 84.6 73.1 79.6 74.2 (r)
6 Lumber and products 93.6 75.5 78.6 76.5
7 Primary metals 92.7 73.7 84.5 80.1 (r)
8 Iron and steel 95.2 71.8 81.8 80.3 (r)
9 Nonferrous 89.3 74.2 87.5 79.8 (r)
10 Industrial machinery and
equipment 85.4 72.3 79.1 73.0 (r)
11 Electrical machinery 84.0 75.0 84.0 69.5 (r)
12 Motor vehicles and parts 89.1 55.9 80.1 77.1 (r)
13 Aerospace and
miscellaneous trans-
portation equipment 87.3 79.2 73.1 73.1 (r)
14 Nondurable goods 87.3 80.7 80.1 77.9 (r)
15 Textile mill products 90.4 77.7 78.8 73.9 (r)
16 Paper and products 93.5 85.0 82.8 78.4 (r)
17 Chemicals and products 86.2 79.3 78.2 75.7 (r)
18 Plastics materials 97.0 74.8 80.7 76.5 (r)
19 Petroleum products 88.5 85.1 94.8 94.5 (r)
20 Mining 88.0 87.0 90.3 91.9 (r)
21 Utilities 92.6 83.4 91.8 87.9 (r)
22 Electric 95.0 87.1 94.7 90.9 (r)
2001
July Aug. Sept. Oct.
Series June (r) (r) (r) (p)
Capacity utilization rate
(percent) (2)
1 Total industry 76.7 (r) 76.7 76.3 75.5 74.6
2 Manufacturing 75.0 (r) 75.1 74.6 73.7 72.8
3 Primary processing (3) 74.9 (r) 74.9 74.7 74.2 73.1
4 Advanced processing (4) 75.0 (r) 75.1 74.4 73.4 72.5
5 Durable goods 73.0 (r) 72.8 72.3 71.0 69.4
6 Lumber and products 76.8 (r) 76.6 77.3 77.8 76.0
7 Primary metals 79.3 (r) 79.3 78.3 76.8 73.4
8 Iron and steel 79.9 80.8 79.5 77.4 71.8
9 Nonferrous 78.5 (r) 77.7 77.0 76.2 75.0
10 Industrial machinery and
equipment 71.8 (r) 70.5 70.6 68.4 67.5
11 Electrical machinery 67.3 (r) 65.4 65.1 64.2 63.2
12 Motor vehicles and parts 76.0 (r) 79.0 76.7 73.8 70.2
13 Aerospace and
miscellaneous trans-
portation equipment 72.7 (r) 71.8 70.6 69.9 68.7
14 Nondurable goods 77.7 (r) 78.0 77.6 77.3 77.1
15 Textile mill products 74.1 (r) 72.2 74.1 74.5 73.9
16 Paper and products 77.2 (r) 77.9 77.3 77.9 77.0
17 Chemicals and products 75.5 (r) 76.5 76.4 76.5 76.2
18 Plastics materials 76.3 (r) 76.9 77.6 76.8 76.2
19 Petroleum products 94.5 (r) 93.6 92.4 91.3 94.0
20 Mining 91.4 (r) 90.9 90.8 90.9 89.2
21 Utilities 87.0 (r) 86.0 86.7 85.5 85.6
22 Electric 90.4 (r) 88.5 90.4 88.4 88.7
(1.) Data in this table also appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in November 2001. The recent annual
revision will be described in an article in an upcoming issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Primary processing includes textiles; lumber; paper; industrial
chemicals; synthetic materials; fertilizer materials; petroleum
products; rubber and plastics; stone, clay, and glass; primary
metals; and fabricated metals.
(4.) Advanced processing includes foods, tobacco, apparel, furniture
and fixtures, printing and publishing, chemical products such as drugs
and toiletries, agricultural chemicals, leather and products,
machinery, transportation equipment, instruments, and miscellaneous
manufacturing.
(5.) Monthly highs, 1978-80; monthly lows, 1982.
(6.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
1992
SIC pro- 2000
Group code por- avg.
(2) tion
MAJOR MARKETS
1 Total index 100.0 145.7
2 Products 60.5 133.5
3 Final products 46.3 135.8
4 Consumer goods, total 29.1 121.9
5 Durable consumer
goods 6.1 161.2
6 Automotive products 2.6 157.0
7 Autos and trucks 1.7 169.8
8 Autos, consumer .9 104.4
9 Trucks,
consumer .7 239.5
10 Auto parts and
allied goods .9 137.2
11 Other 3.5 164.6
12 Appliances,
televisions,
and air
conditioners 1.0 304.9
13 Carpeting and
furniture .8 128.8
14 Miscellaneous
home goods 1.6 125.0
15 Nondurable consumer
goods 23.0 112.7
16 Foods and tobacco 10.3 109.4
17 Clothing 2.4 86.4
18 Chemical products 4.5 134.8
19 Paper products 2.9 106.3
20 Energy 2.9 117.0
21 Fuels .8 112.9
22 Residential
utilities 2.1 118.7
23 Equipment 17.2 161.8
24 Business equipment 13.2 188.9
25 Information
processing 5.4 290.8
26 Computer and office
equipment 1.1 914.2
27 Industrial 4.0 138.3
28 Transit 2.5 143.4
29 Autos and trucks 1.2 170.1
30 Other 1.3 143.2
31 Defense and space
equipment 3.3 74.4
32 Oil and gas well
drilling .6 132.0
33 Manufactured homes .2 120.6
34 Intermediate products,
total 14.2 126.4
35 Construction supplies 5.3 141.5
36 Business supplies 8.9 117.5
37 Materials 39.5 166.4
38 Durable goods materials 20.8 225.4
39 Durable consumer parts 4.0 167.2
40 Equipment parts 7.6 459.6
41 Other 9.2 134.7
42 Basic metal materials 3.1 127.7
43 Nondurable goods
materials 8.9 113.0
44 Textile materials 1.1 106.3
45 Paper materials 1.8 115.6
46 Chemical materials 3.9 113.4
47 Other 2.1 112.8
48 Energy materials 9.7 104.6
49 Primary energy 6.3 98.9
50 Converted fuel
materials 3.3 116.2
SPECIAL AGGREGATES
51 Total excluding autos and
tracks 97.1 145.1
52 Total excluding motor
vehicles and parts 95.1 144.2
53 Total excluding computer
and office equipment 98.2 139.8
54 Consumer goods excluding
autos and tracks 27.4 119.3
55 Consumer goods excluding
energy 26.2 122.5
56 Business equipment
excluding autos and
trucks 12.0 191.2
57 Business equipment
excluding computer and
office equipment 12.1 159.6
58 Materials excluding energy 29.8 187.2
MAJOR INDUSTRIES
59 Total index ... 100.0 145.7
60 Manufacturing ... 85.4 151.6
61 Primary processing ... 26.5 178.2
62 Advanced processing ... 58.9 136.9
63 Durable goods ... 45.0 190.0
64 Lumber and products 24 2.0 118.8
65 Furniture and fixtures 25 1.4 146.3
66 Stone, clay, and glass
products 32 2.1 133.9
67 Primary metals 33 3.1 131.9
68 Iron and steel 331,2 1.7 127.3
69 Raw steel 331PT .1 117.9
70 Nonferrous 333-6,9 1.4 137.7
71 Fabricated metal
products 34 5.0 137.2
72 Industrial machinery
and equipment 35 8.0 227.1
73 Computer and office
equipment 357 1.8 1,070.0
74 Electrical machinery 36 7.3 536.6
75 Transportation
equipment 37 9.5 137.1
76 Motor vehicles and
parts 371 4.9 177.6
77 Autos and light
trucks 371PT 2.6 164.6
78 Aerospace and
miscellaneous
transportation
equipment 372-6,9 4.6 99.1
79 Instruments 38 5.4 118.6
80 Miscellaneous 39 1.3 124.9
81 Nondurable goods ... 40.4 114.8
82 Foods 20 9.4 113.8
83 Tobacco products 21 1.6 93.0
84 Textile mill products 22 1.8 98.9
85 Apparel products 23 2.2 101.9
86 Paper and products 26 3.6 113.9
87 Printing and publishing 27 6.7 106.9
88 Chemicals and products 28 9.9 122.0
89 Petroleum products 29 1.4 115.0
90 Rubber and plastics 30 3.5 144.9
91 Leather and products 31 .3 71.4
92 Mining ... 6.9 100.7
93 Metal 10 .5 97.2
94 Coal 12 1.0 107.1
95 Oil and gas extraction 13 4.8 95.6
96 Stone and earth minerals 14 .6 130.4
97 Utilities ... 7.7 120.7
98 Electric 491,3PT 6.2 123.3
99 Gas 491,2PT 1.6 109.9
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts ... 80.5 150.1
101 Manufacturing excluding
computers and office
equipment ... 83.6 144.6
102 Computers, communications
equipment, and
semiconductors ... 5.9 1,101.2
103 Manufacturing excluding
computers and
semiconductors ... 81.1 127.2
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors ... 79.5 123.9
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 2,001.9 2,821.5
106 Final ... 1,552.1 2,176.4
107 Consumer goods ... 1,049.6 1,323.8
108 Equipment ... 502.5 859.5
109 Intermediate ... 449.9 645.2
2000
Group Oct. (r) Nov. (r) Dec. (r)
MAJOR MARKETS Index (1992=100)
1 Total index 146.3 145.8 145.1
2 Products 133.4 133.8 133.6
3 Final products 135.9 136.3 136.3
4 Consumer goods, total 121.6 122.1 122.5
5 Durable consumer
goods 157.4 154.7 153.2
6 Automotive products 151.7 148.2 145.3
7 Autos and trucks 162.5 157.6 150.2
8 Autos, consumer 99.4 96.0 89.3
9 Trucks,
consumer 229.8 223.4 215.1
10 Auto parts and
allied goods 135.0 133.7 138.2
11 Other 162.5 160.6 160.9
12 Appliances,
televisions,
and air
conditioners 303.1 300.8 306.4
13 Carpeting and
furniture 126.5 123.4 125.5
14 Miscellaneous
home goods 123.3 122.5 120.5
15 Nondurable consumer
goods 113.2 114.3 115.1
16 Foods and tobacco 108.7 109.3 110.3
17 Clothing 83.1 83.8 82.2
18 Chemical products 138.3 140.9 140.1
19 Paper products 108.1 107.5 107.9
20 Energy 119.0 121.9 125.8
21 Fuels 113.0 115.4 112.3
22 Residential
utilities 122.0 125.1 133.2
23 Equipment 162.5 163.0 162.0
24 Business equipment 190.7 190.6 189.3
25 Information
processing 301.0 302.1 303.4
26 Computer and office
equipment 987.7 1,001.7 1,012.9
27 Industrial 138.5 138.1 135.9
28 Transit 137.9 138.5 134.0
29 Autos and trucks 155.6 155.5 145.9
30 Other 147.4 144.3 148.5
31 Defense and space
equipment 72.7 74.8 75.2
32 Oil and gas well
drilling 136.8 139.0 139.9
33 Manufactured homes 102.6 95.8 86.0
34 Intermediate products,
total 126.2 126.2 125.3
35 Construction supplies 140.4 140.3 139.5
36 Business supplies 117.7 117.8 116.9
37 Materials 167.9 166.0 164.5
38 Durable goods materials 229.2 225.4 223.9
39 Durable consumer parts 168.7 160.0 157.6
40 Equipment parts 481.6 483.4 482.4
41 Other 133.2 130.8 129.8
42 Basic metal materials 125.1 122.7 123.5
43 Nondurable goods
materials 112.2 109.6 107.1
44 Textile materials 100.8 98.0 95.0
45 Paper materials 116.5 113.3 109.7
46 Chemical materials 112.5 110.1 106.3
47 Other 113.0 111.1 112.7
48 Energy materials 105.0 106.0 105.8
49 Primary energy 98.7 99.5 99.5
50 Converted fuel
materials 118.4 119.8 118.9
SPECIAL AGGREGATES
51 Total excluding autos and
tracks 145.9 145.6 145.2
52 Total excluding motor
vehicles and parts 144.9 144.9 144.6
53 Total excluding computer
and office equipment 140.1 139.6 139.0
54 Consumer goods excluding
autos and tracks 119.5 120.2 121.2
55 Consumer goods excluding
energy 121.9 122.0 122.0
56 Business equipment
excluding autos and
trucks 195.1 195.1 194.9
57 Business equipment
excluding computer and
office equipment 159.8 159.5 158.0
58 Materials excluding energy 189.3 185.9 183.9
MAJOR INDUSTRIES
59 Total index 146.3 145.8 145.1
60 Manufacturing 152.0 151.2 150.1
61 Primary processing 179.7 177.1 174.8
62 Advanced processing 136.8 136.9 136.4
63 Durable goods 191.1 189.6 188.5
64 Lumber and products 115.8 114.4 112.1
65 Furniture and fixtures 145.8 144.9 146.4
66 Stone, clay, and glass
products 135.1 131.8 130.4
67 Primary metals 127.9 125.8 125.8
68 Iron and steel 121.5 119.4 117.8
69 Raw steel 112.5 106.4 104.3
70 Nonferrous 135.6 133.6 135.5
71 Fabricated metal
products 136.9 136.8 136.0
72 Industrial machinery
and equipment 230.2 228.9 228.2
73 Computer and office
equipment 1,156.3 1,165.3 1,167.3
74 Electrical machinery 564.5 566.3 569.5
75 Transportation
equipment 135.2 131.8 128.8
76 Motor vehicles and
parts 173.7 164.8 158.6
77 Autos and light
trucks 157.7 152.9 145.2
78 Aerospace and
miscellaneous
transportation
equipment 99.0 100.8 100.7
79 Instruments 118.0 119.0 118.8
80 Miscellaneous 123.9 123.5 123.6
81 Nondurable goods 114.7 114.5 113.5
82 Foods 114.0 114.0 113.5
83 Tobacco products 89.2 91.7 98.7
84 Textile mill products 94.3 92.2 90.5
85 Apparel products 98.6 99.1 97.8
86 Paper and products 114.3 112.9 110.6
87 Printing and publishing 107.7 107.4 106.5
88 Chemicals and products 123.4 123.5 121.1
89 Petroleum products 115.5 115.8 114.1
90 Rubber and plastics 143.5 141.5 139.5
91 Leather and products 70.6 70.2 67.6
92 Mining 101.1 101.2 100.9
93 Metal 94.3 90.6 98.7
94 Coal 105.2 108.3 107.1
95 Oil and gas extraction 96.3 96.7 96.2
96 Stone and earth minerals 132.5 126.7 125.3
97 Utilities 121.8 124.2 127.7
98 Electric 123.9 126.1 128.7
99 Gas 112.7 115.7 122.4
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 150.8 150.6 149.8
101 Manufacturing excluding
computers and office
equipment 144.8 144.0 142.9
102 Computers, communications
equipment, and
semiconductors 1,184.0 1,191.1 1,193.6
103 Manufacturing excluding
computers and
semiconductors 126.7 125.8 124.8
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 123.2 122.4 121.3
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,811.7 2,813.8 2,800.7
106 Final 2,167.9 2,170.5 2,161.0
107 Consumer goods 1,316.5 1,318.2 1,316.7
108 Equipment 858.7 859.5 850.5
109 Intermediate 643.8 643.4 639.8
2001
Group Jan. (r) Feb. (r) Mar. (r)
MAJOR MARKETS Index (1992=100)
1 Total index 143.9 143.5 142.9
2 Products 132.7 132.2 132.1
3 Final products 135.2 134.7 135.1
4 Consumer goods, total 121.0 121.2 121.8
5 Durable consumer
goods 147.3 149.1 152.9
6 Automotive products 138.5 141.8 149.8
7 Autos and trucks 142.2 147.8 159.6
8 Autos, consumer 93.4 93.3 97.0
9 Trucks,
consumer 194.4 206.0 226.3
10 Auto parts and
allied goods 133.3 132.8 134.7
11 Other 155.9 156.1 155.1
12 Appliances,
televisions,
and air
conditioners 289.5 284.4 284.0
13 Carpeting and
furniture 119.8 124.7 123.1
14 Miscellaneous
home goods 119.5 118.3 117.7
15 Nondurable consumer
goods 114.5 114.4 114.3
16 Foods and tobacco 109.4 109.5 109.3
17 Clothing 83.0 82.6 82.8
18 Chemical products 139.4 141.7 143.8
19 Paper products 109.2 107.3 106.9
20 Energy 124.0 122.1 119.8
21 Fuels 112.9 114.2 113.9
22 Residential
utilities 130.0 126.2 122.8
23 Equipment 161.8 159.8 159.6
24 Business equipment 188.7 186.1 185.4
25 Information
processing 304.1 297.5 294.1
26 Computer and office
equipment 1,017.4 1,012.6 996.5
27 Industrial 137.2 132.4 132.6
28 Transit 131.0 131.6 135.6
29 Autos and trucks 140.0 142.5 151.1
30 Other 145.4 151.6 143.3
31 Defense and space
equipment 75.5 74.1 74.5
32 Oil and gas well
drilling 146.7 147.7 151.0
33 Manufactured homes 79.6 87.1 87.3
34 Intermediate products,
total 125.0 124.4 123.4
35 Construction supplies 138.8 138.6 139.4
36 Business supplies 116.9 116.0 113.8
37 Materials 162.8 162.5 160.9
38 Durable goods materials 220.3 219.7 218.0
39 Durable consumer parts 149.0 154.6 155.0
40 Equipment parts 474.0 470.1 464.3
41 Other 130.3 128.2 127.2
42 Basic metal materials 121.4 118.1 114.5
43 Nondurable goods
materials 108.4 107.9 104.9
44 Textile materials 99.3 95.8 95.3
45 Paper materials 112.2 112.1 106.0
46 Chemical materials 107.8 108.0 104.8
47 Other 110.5 109.9 108.7
48 Energy materials 104.3 104.6 104.5
49 Primary energy 99.4 98.9 99.1
50 Converted fuel
materials 113.6 116.1 115.5
SPECIAL AGGREGATES
51 Total excluding autos and
tracks 144.1 143.6 142.6
52 Total excluding motor
vehicles and parts 144.0 143.1 142.0
53 Total excluding computer
and office equipment 137.8 137.4 136.9
54 Consumer goods excluding
autos and tracks 120.0 119.9 119.8
55 Consumer goods excluding
energy 120.5 121.0 122.0
56 Business equipment
excluding autos and
trucks 195.0 191.8 189.8
57 Business equipment
excluding computer and
office equipment 157.4 155.1 154.7
58 Materials excluding energy 182.2 181.6 179.3
MAJOR INDUSTRIES
59 Total index 143.9 143.5 142.9
60 Manufacturing 148.9 148.4 147.9
61 Primary processing 172.9 172.4 170.7
62 Advanced processing 135.5 135.1 135.1
63 Durable goods 185.6 184.6 184.7
64 Lumber and products 109.3 109.5 111.8
65 Furniture and fixtures 143.1 144.4 142.5
66 Stone, clay, and glass
products 132.5 132.4 132.9
67 Primary metals 123.9 121.0 117.5
68 Iron and steel 115.4 114.4 111.3
69 Raw steel 106.6 106.9 107.0
70 Nonferrous 134.3 128.9 125.1
71 Fabricated metal
products 136.2 133.2 132.2
72 Industrial machinery
and equipment 228.1 227.0 225.5
73 Computer and office
equipment 1,163.4 1,153.5 1,137.1
74 Electrical machinery 555.4 543.6 533.6
75 Transportation
equipment 123.1 126.4 131.0
76 Motor vehicles and
parts 146.9 154.9 163.7
77 Autos and light
trucks 138.8 143.5 154.2
78 Aerospace and
miscellaneous
transportation
equipment 100.7 99.5 100.4
79 Instruments 119.7 118.4 117.7
80 Miscellaneous 122.7 120.2 119.9
81 Nondurable goods 113.5 113.5 112.5
82 Foods 113.0 113.5 113.6
83 Tobacco products 96.2 94.8 93.3
84 Textile mill products 92.4 90.9 91.0
85 Apparel products 97.7 97.6 97.4
86 Paper and products 111.0 110.8 106.0
87 Printing and publishing 106.9 105.9 104.3
88 Chemicals and products 121.2 122.2 121.4
89 Petroleum products 114.5 115.3 114.7
90 Rubber and plastics 140.4 139.5 138.8
91 Leather and products 67.8 67.9 67.5
92 Mining 101.3 102.2 102.5
93 Metal 96.5 91.6 87.9
94 Coal 113.8 113.4 115.5
95 Oil and gas extraction 95.7 96.6 97.1
96 Stone and earth minerals 130.0 135.0 133.0
97 Utilities 125.2 123.4 121.8
98 Electric 127.1 125.0 124.7
99 Gas 117.0 116.2 110.3
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 149.3 148.2 147.0
101 Manufacturing excluding
computers and office
equipment 141.7 141.3 140.8
102 Computers, communications
equipment, and
semiconductors 1,166.2 1,146.7 1,127.5
103 Manufacturing excluding
computers and
semiconductors 124.0 123.7 123.3
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 120.5 120.4 120.0
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,771.7 2,768.2 2,776.5
106 Final 2,134.6 2,133.7 2,145.9
107 Consumer goods 1,296.7 1,301.7 1,311.5
108 Equipment 845.0 837.7 839.5
109 Intermediate 637.1 634.5 630.8
2001
Group Apr. (r) May (r) June (r)
MAJOR MARKETS Index (1992=100)
1 Total index 142.0 141.6 140.3
2 Products 131.0 130.9 130.0
3 Final products 134.0 133.9 132.9
4 Consumer goods, total 121.3 121.4 121.1
5 Durable consumer
goods 152.2 154.2 153.2
6 Automotive products 149.6 152.8 152.3
7 Autos and trucks 160.1 165.7 163.4
8 Autos, consumer 96.0 97.9 97.2
9 Trucks,
consumer 228.4 237.9 234.0
10 Auto parts and
allied goods 133.5 132.5 135.1
11 Other 153.9 154.5 152.9
12 Appliances,
televisions,
and air
conditioners 284.0 292.1 285.0
13 Carpeting and
furniture 119.9 117.7 118.6
14 Miscellaneous
home goods 117.4 117.7 116.2
15 Nondurable consumer
goods 113.9 113.6 113.4
16 Foods and tobacco 108.9 108.6 108.9
17 Clothing 82.0 80.6 78.2
18 Chemical products 143.4 145.2 145.7
19 Paper products 107.4 106.7 106.6
20 Energy 118.7 116.9 115.8
21 Fuels 114.6 115.6 115.2
22 Residential
utilities 120.7 117.2 115.8
23 Equipment 157.3 156.5 154.1
24 Business equipment 182.1 181.3 177.8
25 Information
processing 288.4 286.8 279.6
26 Computer and office
equipment 970.9 950.6 948.7
27 Industrial 129.1 129.0 125.2
28 Transit 133.8 134.5 133.1
29 Autos and trucks 148.0 152.5 150.5
30 Other 143.1 139.1 140.7
31 Defense and space
equipment 74.4 73.5 73.4
32 Oil and gas well
drilling 152.2 151.9 150.4
33 Manufactured homes 88.6 91.7 96.0
34 Intermediate products,
total 122.2 122.2 121.4
35 Construction supplies 139.0 138.7 138.0
36 Business supplies 112.2 112.4 111.6
37 Materials 160.3 159.4 157.4
38 Durable goods materials 216.4 216.2 212.9
39 Durable consumer parts 155.1 159.6 157.7
40 Equipment parts 452.9 446.5 436.1
41 Other 127.9 127.5 126.2
42 Basic metal materials 117.6 116.7 115.5
43 Nondurable goods
materials 104.7 103.0 102.2
44 Textile materials 95.0 90.9 90.8
45 Paper materials 110.2 108.3 104.8
46 Chemical materials 101.8 100.5 100.3
47 Other 110.6 109.4 109.3
48 Energy materials 104.9 103.8 103.1
49 Primary energy 99.5 99.0 99.5
50 Converted fuel
materials 115.7 113.1 109.1
SPECIAL AGGREGATES
51 Total excluding autos and
tracks 141.7 141.1 139.9
52 Total excluding motor
vehicles and parts 141.0 140.2 139.0
53 Total excluding computer
and office equipment 136.0 135.7 134.4
54 Consumer goods excluding
autos and tracks 119.3 119.0 118.8
55 Consumer goods excluding
energy 121.6 122.0 121.8
56 Business equipment
excluding autos and
trucks 186.4 184.9 181.3
57 Business equipment
excluding computer and
office equipment 152.1 151.7 148.5
58 Materials excluding energy 178.2 177.4 175.0
MAJOR INDUSTRIES
59 Total index 142.0 141.6 140.3
60 Manufacturing 146.7 146.4 145.0
61 Primary processing 170.1 169.4 167.3
62 Advanced processing 133.7 133.6 132.5
63 Durable goods 182.9 182.7 180.1
64 Lumber and products 111.8 113.7 114.2
65 Furniture and fixtures 141.8 140.4 138.3
66 Stone, clay, and glass
products 133.1 133.0 130.0
67 Primary metals 121.2 120.8 119.5
68 Iron and steel 115.8 118.4 117.7
69 Raw steel 99.2 106.2 107.8
70 Nonferrous 127.8 124.0 122.0
71 Fabricated metal
products 131.0 131.0 129.5
72 Industrial machinery
and equipment 220.2 217.0 213.8
73 Computer and office
equipment 1,112.9 1,095.1 1,095.4
74 Electrical machinery 518.8 511.4 497.6
75 Transportation
equipment 130.5 133.2 131.9
76 Motor vehicles and
parts 163.2 169.7 167.7
77 Autos and light
trucks 154.4 159.5 157.2
78 Aerospace and
miscellaneous
transportation
equipment 99.9 98.9 98.3
79 Instruments 117.2 116.8 114.5
80 Miscellaneous 120.4 119.0 119.8
81 Nondurable goods 111.8 111.5 111.1
82 Foods 112.6 112.8 112.9
83 Tobacco products 94.8 92.9 93.8
84 Textile mill products 90.4 86.7 86.8
85 Apparel products 97.0 96.5 94.0
86 Paper and products 110.6 108.8 107.1
87 Printing and publishing 102.5 102.3 101.3
88 Chemicals and products 119.5 119.9 119.5
89 Petroleum products 115.4 115.6 115.5
90 Rubber and plastics 137.9 137.1 137.7
91 Leather and products 65.7 63.6 62.2
92 Mining 103.1 103.0 102.5
93 Metal 92.1 91.3 88.6
94 Coal 114.9 113.9 115.9
95 Oil and gas extraction 97.6 97.4 97.0
96 Stone and earth minerals 134.3 137.1 133.7
97 Utilities 121.3 119.7 119.1
98 Electric 125.2 122.8 122.9
99 Gas 107.1 107.8 105.2
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 145.8 145.1 143.7
101 Manufacturing excluding
computers and office
equipment 139.8 139.5 138.1
102 Computers, communications
equipment, and
semiconductors 1,089.4 1,065.4 1,036.7
103 Manufacturing excluding
computers and
semiconductors 122.6 122.6 121.5
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 119.4 119.4 118.5
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,754.8 2,759.1 2,741.6
106 Final 2,129.3 2,133.0 2,118.1
107 Consumer goods 1,307.1 1,312.4 1,307.9
108 Equipment 825.8 823.3 811.6
109 Intermediate 625.7 626.3 623.7
2001
July Aug. Sept. Oct.
Group (r) (r) (r) (p)
MAJOR MARKETS Index (1992=100)
1 Total index 140.4 139.8 138.5 136.9
2 Products 130.3 129.1 127.7 126.4
3 Final products 133.2 131.7 130.1 128.8
4 Consumer goods, total 122.2 120.9 120.0 119.5
5 Durable consumer
goods 157.0 154.1 151.6 146.9
6 Automotive products 161.1 155.6 152.4 146.4
7 Autos and trucks 178.3 169.1 164.1 154.6
8 Autos, consumer 97.5 90.6 92.7 86.8
9 Trucks,
consumer 264.3 252.6 240.2 226.7
10 Auto parts and
allied goods 133.9 134.5 134.0 133.8
11 Other 151.0 151.0 149.4 146.2
12 Appliances,
televisions,
and air
conditioners 271.7 287.1 285.3 276.4
13 Carpeting and
furniture 116.2 117.6 118.4 115.0
14 Miscellaneous
home goods 117.7 113.3 110.7 109.3
15 Nondurable consumer
goods 113.9 113.0 112.5 112.8
16 Foods and tobacco 109.3 108.4 108.0 108.0
17 Clothing 79.0 76.7 75.0 74.2
18 Chemical products 147.5 146.5 146.1 146.1
19 Paper products 106.0 105.6 105.1 104.8
20 Energy 116.0 115.3 114.8 117.6
21 Fuels 114.3 112.2 111.8 116.2
22 Residential
utilities 116.5 116.7 116.1 118.0
23 Equipment 152.7 150.7 147.4 144.5
24 Business equipment 176.1 173.7 169.1 165.5
25 Information
processing 275.2 274.7 270.1 266.1
26 Computer and office
equipment 934.2 929.6 906.4 901.8
27 Industrial 123.1 121.8 119.1 117.1
28 Transit 133.8 128.4 123.4 117.8
29 Autos and trucks 157.1 149.6 142.1 133.8
30 Other 140.8 139.3 132.9 132.0
31 Defense and space
equipment 73.6 73.2 73.6 73.5
32 Oil and gas well
drilling 147.1 143.1 140.4 133.5
33 Manufactured homes 95.4 97.9 95.0 ...
34 Intermediate products,
total 121.4 121.1 120.5 119.0
35 Construction supplies 137.3 137.9 138.1 135.1
36 Business supplies 112.0 111.1 110.1 109.4
37 Materials 157.2 157.8 156.5 154.5
38 Durable goods materials 212.6 212.2 209.0 205.4
39 Durable consumer parts 160.2 160.6 155.0 150.3
40 Equipment parts 429.9 429.4 427.2 424.0
41 Other 126.4 125.8 124.1 121.7
42 Basic metal materials 115.7 114.2 112.2 107.9
43 Nondurable goods
materials 102.7 103.8 104.0 103.2
44 Textile materials 87.6 90.2 89.9 89.6
45 Paper materials 107.7 108.6 109.2 108.0
46 Chemical materials 100.9 102.3 102.4 101.6
47 Other 109.7 109.5 109.7 109.1
48 Energy materials 102.3 103.4 103.6 102.9
49 Primary energy 98.5 99.4 99.7 98.5
50 Converted fuel
materials 109.0 110.5 110.5 110.9
SPECIAL AGGREGATES
51 Total excluding autos and
tracks 139.5 139.2 138.1 136.7
52 Total excluding motor
vehicles and parts 138.7 138.3 137.3 136.0
53 Total excluding computer
and office equipment 134.6 134.0 132.8 131.2
54 Consumer goods excluding
autos and tracks 119.1 118.3 117.6 117.6
55 Consumer goods excluding
energy 122.9 121.6 120.7 119.7
56 Business equipment
excluding autos and
trucks 178.4 176.6 172.5 169.5
57 Business equipment
excluding computer and
office equipment 147.2 145.0 141.2 137.9
58 Materials excluding energy 175.0 175.3 173.4 170.8
MAJOR INDUSTRIES
59 Total index 140.4 139.8 138.5 136.9
60 Manufacturing 145.2 144.4 142.9 141.1
61 Primary processing 167.4 167.2 166.2 164.0
62 Advanced processing 132.9 131.7 129.9 128.4
63 Durable goods 180.0 178.8 176.0 172.3
64 Lumber and products 114.0 115.0 115.8 113.2
65 Furniture and fixtures 138.4 138.3 136.3 132.6
66 Stone, clay, and glass
products 130.0 130.5 130.9 129.6
67 Primary metals 119.5 117.9 115.7 110.4
68 Iron and steel 118.8 116.7 113.4 105.1
69 Raw steel 108.3 106.2 105.8 97.2
70 Nonferrous 120.8 119.8 118.6 116.9
71 Fabricated metal
products 131.1 130.8 128.8 126.6
72 Industrial machinery
and equipment 210.2 210.9 204.5 202.1
73 Computer and office
equipment 1,074.6 1,069.2 1,042.5 1,037.3
74 Electrical machinery 485.9 485.1 480.2 474.4
75 Transportation
equipment 134.6 131.5 128.1 123.5
76 Motor vehicles and
parts 174.6 170.0 163.9 156.0
77 Autos and light
trucks 170.2 160.9 156.8 147.5
78 Aerospace and
miscellaneous
transportation
equipment 97.1 95.4 94.4 92.9
79 Instruments 115.0 115.1 114.8 113.6
80 Miscellaneous 120.7 116.6 115.5 114.6
81 Nondurable goods 111.5 110.9 110.5 110.2
82 Foods 113.1 112.8 112.6 112.9
83 Tobacco products 95.0 92.3 90.6 90.0
84 Textile mill products 84.3 86.2 86.5 85.5
85 Apparel products 95.1 91.6 89.4 87.8
86 Paper and products 108.1 107.3 108.2 107.0
87 Printing and publishing 101.1 100.6 99.8 99.1
88 Chemicals and products 121.2 121.1 121.3 120.9
89 Petroleum products 114.6 113.2 111.9 115.3
90 Rubber and plastics 138.0 137.3 136.5 135.3
91 Leather and products 62.1 62.5 60.8 59.8
92 Mining 101.9 101.9 102.0 100.2
93 Metal 88.8 88.7 87.5 87.8
94 Coal 111.9 111.8 111.8 106.5
95 Oil and gas extraction 97.0 96.9 97.0 95.3
96 Stone and earth minerals 130.6 131.3 132.6 132.5
97 Utilities 118.2 119.8 118.6 119.4
98 Electric 121.0 124.2 122.2 123.3
99 Gas 107.4 103.8 105.1 104.9
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and parts 143.5 142.9 141.7 140.3
101 Manufacturing excluding
computers and office
equipment 138.4 137.6 136.2 134.5
102 Computers, communications
equipment, and
semiconductors 1,006.7 999.4 987.5 978.7
103 Manufacturing excluding
computers and
semiconductors 122.0 121.2 119.9 118.4
104 Manufacturing excluding
computers, communications
equipment, and
semiconductors 119.0 118.3 117.1 115.6
Gross value (billions of
1992 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,753.0 2,724.7 2,692.5 2,661.5
106 Final 2,129.7 2,102.6 2,073.8 2,051.3
107 Consumer goods 1,322.5 1,307.6 1,297.4 1,290.5
108 Equipment 806.5 793.8 773.0 755.3
109 Intermediate 623.5 622.2 618.7 610.3
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in November 2001. The recent annual
revision will be described in an article in an upcoming issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Standard Industrial Classification.
2.14 HOUSING AND CONSTRUCTION
Monthly figures at seasonally adjusted annual rates except as noted
Item 1998 1999 2000
Private residential real estate
activity (thousands of units except
as noted)
NEW UNITS
1 Permits authorized 1,612 1,664 1,592
2 One-family 1,188 1,247 1,198
3 Two-family or more 425 417 394
4 Started 1,617 1,641 1,569
5 One-family 1,271 1,302 1,231
6 Two-family or more 346 339 338
7 Under construction at end
of period (1) 971 953 934
8 One-family 659 648 623
9 Two-family or more 312 305 310
10 Completed 1,474 1,605 1,574
11 One-family 1,160 1,270 1,242
12 Two-family or more 315 335 332
13 Mobile homes shipped 374 348 250
Merchant builder activity
in one-family units
14 Number sold 886 880 877
15 Number for sale at end of
period (1) 300 315 301
Price of units sold
(thousands of
dollars) (2)
16 Median 152.5 161.0 169.0
17 Average 181.9 195.6 207.0
EXISTING UNITS
(one-family)
18 Number sold 4,970 5,205 5,113
Price of units sold
(thousands of
dollars) (2)
19 Median 128.4 133.3 139.0
20 Average 159.1 168.3 176.2
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 703,533 763,914 817,130
22 Private 550,754 595,667 641,269
23 Residential 314,514 349,560 375,268
24 Nonresidential 236,240 (r) 246,107 (r) 266,001 (r)
25 Industrial buildings 40,547 32,794 31,984
26 Commercial buildings 95,760 104,531 116,988
27 Other buildings 39,609 40,906 44,505
28 Public utilities and
other 60,324 67,876 72,523
29 Public 152,779 168,247 175,861
30 Military 2,539 2,142 2,334
31 Highway 45,251 52,024 52,851
32 Conservation and
development 5,415 5,995 6,043
33 Other 99,575 108,086 114,634
2000 2001
Item Dec. Jan. Feb. Mar.
Private residential real estate
activity (thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,553 1,724 1,663 1,627
2 One-family 1,187 1,283 1,228 1,209
3 Two-family or more 366 441 435 418
4 Started 1,532 1,666 1,623 1,592
5 One-family 1,236 1,336 1,288 1,208
6 Two-family or more 296 330 335 384
7 Under construction at end
of period (1) 965 985 989 1,002
8 One-family 652 669 675 676
9 Two-family or more 313 316 314 326
10 Completed 1,527 1,424 1,531 1,478
11 One-family 1,228 1,090 1,201 1,207
12 Two-family or more 299 334 330 271
13 Mobile homes shipped 176 171 180 179
Merchant builder activity
in one-family units
14 Number sold 1,001 938 959 953
15 Number for sale at end of
period (1) 297 295 295 289
Price of units sold
(thousands of
dollars) (2)
16 Median 162.0 171.3 169.1 166.3
17 Average 208.1 209.0 211.0 210.2
EXISTING UNITS
(one-family)
18 Number sold 4,940 5,200 5,190 5,430
Price of units sold
(thousands of
dollars) (2)
19 Median 139.7 137.1 138.6 143.4
20 Average 178.5 175.8 174.6 179.5
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 838,731 859,815 869,334 869,140
22 Private 660,849 673,715 681,826 681,176
23 Residential 379,593 386,088 398,863 395,080
24 Nonresidential 281,256 287,627 282,963 286,096
25 Industrial buildings 31,398 35,878 33,386 34,823
26 Commercial buildings 125,234 125,402 124,568 128,792
27 Other buildings 45,707 46,567 46,264 47,117
28 Public utilities and
other 78,917 79,780 78,745 75,364
29 Public 177,883 186,100 187,508 187,964
30 Military 2,107 2,270 2,342 2,131
31 Highway 50,189 55,368 56,204 57,443
32 Conservation and
development 6,339 7,381 7,838 7,573
33 Other 119,248 121,081 121,124 120,817
2001
Item Apr. May June
Private residential real estate
activity (thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,587 1,621 1,587
2 One-family 1,218 1,205 1,225
3 Two-family or more 369 416 362
4 Started 1,626 1,610 1,634
5 One-family 1,295 1,285 1,292
6 Two-family or more 331 325 342
7 Under construction at end
of period (1) 1,006 1,016 1,012
8 One-family 682 688 688
9 Two-family or more 324 328 324
10 Completed 1,569 1,499 1,643
11 One-family 1,232 1,225 1,275
12 Two-family or more 337 274 368
13 Mobile homes shipped 184 186 198
Merchant builder activity
in one-family units
14 Number sold 899 882 889 (r)
15 Number for sale at end of
period (1) 293 296 301
Price of units sold
(thousands of
dollars) (2)
16 Median 175.2 175.3 179.4 (r)
17 Average 205.5 211.4 211.7 (r)
EXISTING UNITS
(one-family)
18 Number sold 5,220 5,360 5,330
Price of units sold
(thousands of
dollars) (2)
19 Median 143.1 145.0 152.2
20 Average 179.9 183.6 191.1
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 870,826 869,574 861,571
22 Private 677,429 670,838 665,322
23 Residential 392,160 394,330 391,508
24 Nonresidential 285,269 276,508 273,814
25 Industrial buildings 34,662 31,943 32,966
26 Commercial buildings 124,935 118,601 116,842
27 Other buildings 46,080 46,643 46,020
28 Public utilities and
other 79,592 79,321 77,986
29 Public 193,397 198,736 196,249
30 Military 2,530 2,274 2,477
31 Highway 57,717 60,437 61,534
32 Conservation and
development 6,332 7,216 6,592
33 Other 126,818 128,809 125,646
2001
Item July Aug. (r) Sept.
Private residential real estate
activity (thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,571 1,571 1,528
2 One-family 1,211 1,210 1,164
3 Two-family or more 360 361 364
4 Started 1,660 1,559 1,572
5 One-family 1,290 1,271 1,257
6 Two-family or more 370 288 315
7 Under construction at end
of period (1) 1,019 1,009 1,008
8 One-family 693 691 688
9 Two-family or more 326 318 320
10 Completed 1,583 1,620 1,539
11 One-family 1,269 1,276 1,255
12 Two-family or more 314 344 284
13 Mobile homes shipped 193 199 206
Merchant builder activity
in one-family units
14 Number sold 902 (r) 876 864
15 Number for sale at end of
period (1) 305 304 306
Price of units sold
(thousands of
dollars) (2)
16 Median 174.2 (r) 171.1 162.4
17 Average 208.1 (r) 203.4 195.7
EXISTING UNITS
(one-family)
18 Number sold 5,200 5,540 4,890
Price of units sold
(thousands of
dollars) (2)
19 Median 151.7 153.7 148.1
20 Average 190.6 193.5 186.7
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 856,674 (r) 846,100 843,107
22 Private 661,136 (r) 646,368 641,005
23 Residential 390,464 (r) 389,889 385,363
24 Nonresidential 270,672 (r) 256,479 255,642
25 Industrial buildings 34,611 (r) 31,648 30,983
26 Commercial buildings 115,714 (r) 106,001 106,071
27 Other buildings 45,454 (r) 44,354 44,303
28 Public utilities and
other 74,893 (r) 74,476 74,285
29 Public 195,537 (r) 199,731 202,102
30 Military 2,385 (r) 2,561 2,369
31 Highway 60,327 (r) 56,131 55,163
32 Conservation and
development 6,063 (r) 7,064 7,328
33 Other 126,762 (r) 133,975 137,242
(1.) Not at annual rates.
(2.) Not seasonally adjusted.
(3.) Recent data on value of new construction may not be strictly
comparable with data for previous periods because of changes by the
Bureau of the Census in its estimating techniques. For a description
of these changes, see Construction Reports (C-30-76-5), issued by the
Census Bureau in July 1976.
SOURCE. Bureau of the Census estimates for all series except (1)
mobile homes, which are private, domestic shipments as reported by
the Manufactured Housing Institute and seasonally adjusted by the
Census Bureau, and (2) sales and prices of existing units, which are
published by the National Association of Realtors. All back and
current figures are available from the originating agency. Permit
authorizations are those reported to the Census Bureau from 19,000
jurisdictions beginning in 1994.
2.15 CONSUMER AND PRODUCER PRICES
Percentage changes based on seasonally adjusted data except as noted
Change from
12 months Change from 3 months
earlier earlier (annual rate)
2000 2001
2000 2001 Mar. June Sept.
Item Oct. Oct. Dec. (r) (r) (r)
CONSUMER
PRICES (2)
(1982-84=100)
1 All items 3.4 2.1 2.3 4.0 3.7 .7
2 Food 2.4 3.4 2.1 4.1 3.3 2.8
3 Energy items 15.9 -5.6 3.8 6.0 16.8 -18.2
4 All items
less food
and
energy 2.5 2.6 2.0 3.5 2.6 2.4
5 Commodities
(2) .2 .0 .0 1.4 -1.6 .3
6 Services 3.5 3.7 3.2 4.2 4.5 3.1
PRODUCER PRICES
(1982=100)
7 Finished
goods 3.7 -.4 2.9 4.7 .9 -1.4
8 Consumer
foods 1.6 2.8 2.7 10.5 .9 2.0
9 Consumer
energy 19.3 -9.5 12.0 9.5 -4.2 -16.3
10 Other
consumer
goods 1.2 1.3 1.0 2.3 2.8 1.3
11 Capital
equipment .9 .0 .3 .0 .6 1.7
Intermediate
materials
12 Excluding
foods and
feeds 4.9 -2.8 1.2 1.5 -1.2 -5.6
13 Excluding
energy 2.1 -1.2 -.3 1.5 -.9 -3.7
Crude
materials
14 Foods .7 5.2 36.5 15.6 -6.8 4.2
15 Energy 63.2 -48.1 102.6 -42.4 -52.0 -61.6
16 Other -.5 -10.8 -9.2 -10.8 -15.0 -4.5
Change from 1 month earlier
2001
Index
level,
Oct.
2001
Item June July Aug. Sept. Oct. (1)
CONSUMER
PRICES (2)
(1982-84=100)
1 All items .2 -.3 .1 .4 -.3 177.7
2 Food .4 .3 .2 .2 .5 174.9
3 Energy items -.9 -5.6 -1.9 2.6 -6.3 122.1
4 All items
less food
and
energy .3 .2 .2 .2 .2 187.6
5 Commodities
(2) .0 .1 -.4 .3 -.1 145.6
6 Services .5 .2 .5 .1 .2 211.7
PRODUCER PRICES
(1982=100)
7 Finished
goods -.4 (r) -1.1 (r) .4 .4 -1.6 139.6
8 Consumer
foods -.2 -.6 .9 .2 -.4 141.8
9 Consumer
energy -2.5 (r) -6.2 (r) 1.1 .9 -7.7 90.1
10 Other
consumer
goods .1 (r) .0 (r) -.1 .4 -.4 157.5
11 Capital
equipment .1 (r) .4 (r) -.1 .1 -.7 139.8
Intermediate
materials
12 Excluding
foods and
feeds -.2 -1.1 -.5 .1 -1.5 128.2
13 Excluding
energy -.1 -.4 -.4 -.1 -.4 135.3
Crude
materials
14 Foods .0 (r) .5 (r) -.6 1.1 -2.6 104.7
15 Energy -15.8 (r) -7.9 (r) -4.4 -10.7 -19.2 75.2
16 Other -1.1 (r) -.5 (r) -.8 .2 -1.7 125.8
(1.) Not seasonally adjusted.
(2.) Figures for consumer prices are for all urban consumers
and reflect a rental-equivalence measure of homeownership.
SOURCE. U.S. Department of Labor, Bureau of Labor Statistics.
2.16 GROSS DOMESTIC PRODUCT AND INCOME
Billions of current dollars except as noted; quarterly
data at seasonally adjusted annual rates
2000
Account 1998 1999 2000 Q3
GROSS DOMESTIC PRODUCT
1 Total 8,781.5 9,268.6 9,872.9 9,937.5
By source
2 Personal consumption
expenditures 5,856.0 6,250.2 6,728.4 6,785.5
3 Durable goods 693.2 760.9 819.6 825.4
4 Nondurable goods 1,708.5 1,831.3 1,989.6 2,012.4
5 Services 3,454.3 3,658.0 3,919.2 3,947.7
6 Gross private domestic
investment 1,538.7 1,636.7 1,767.5 1,788.4
7 Fixed investment 1,465.6 1,578.2 1,718.1 1,735.9
8 Nonresidential 1,101.2 1,174.6 1,293.1 1,314.9
9 Structures 282.4 283.5 313.6 321.1
10 Producers' durable
equipment 818.9 891.1 979.5 993.8
11 Residential
structures 364.4 403.5 425.1 421.0
12 Change in business
inventories 73.1 58.6 49.4 52.5
13 Nonfarm 72.3 60.1 51.1 55.3
14 Net exports of goods and
services -151.7 -250.9 -364.0 -380.6
15 Exports 964.9 989.8 1,102.9 1,131.1
16 Imports 1,116.7 1,240.6 1,466.9 1,511.8
17 Government consumption
expenditures and
gross investment 1,538.5 1,632.5 1,741.0 1,744.2
18 Federal 539.2 564.0 590.2 587.0
19 State and local 999.3 1,068.5 1,150.8 1,157.2
By major type of product
20 Final sales, total 8,708.4 9,210.0 9,823.6 9,884.9
21 Goods 3,232.3 3,418.6 3,644.8 3,677.2
22 Durable 1,524.4 1,618.8 1,735.2 1,753.8
23 Nondurable 1,707.9 1,799.8 1,909.7 1,923.5
24 Services 4,678.6 4,939.1 5,268.5 5,296.1
25 Structures 797.5 852.4 910.3 911.6
26 Change in business
inventories 73.1 58.6 49.4 52.5
27 Durable goods 44.7 35.3 34.7 33.0
28 Nondurable goods 28.5 23.3 14.7 19.5
MEMO
29 Total GDP in chained
1996 dollars 8,508.9 8,856.5 9,224.0 9,260.1
NATIONAL INCOME
30 Total 7,041.4 7,462.1 7,980.9 8,047.2
31 Compensation of
employees 4,989.6 5,310.7 5,715.2 5,759.3
32 Wages and salaries 4,192.1 4,477.4 4,837.2 4,875.8
33 Government and
government
enterprises 692.7 724.3 768.4 772.6
34 Other 3,499.4 3,753.1 4,068.8 4,103.2
35 Supplement to wages
and salaries 797.5 833.4 878.0 883.5
36 Employer
contributions for
social insurance 306.9 323.6 343.8 345.6
37 Other labor income 490.6 509.7 534.2 537.9
38 Proprietors' income (1) 623.8 672.0 715.0 719.3
39 Business and
professional (1) 598.2 645.4 684.4 687.6
40 Farm (1) 25.6 26.6 30.6 31.6
41 Rental income of
persons (2) 138.6 147.7 141.6 138.3
42 Corporate profits (1) 777.4 825.2 876.4 895.0
43 Profits before tax (3) 721.1 776.3 845.4 858.3
44 Inventory valuation
adjustment 18.3 -2.9 -12.4 -3.6
45 Capital consumption
adjustment 38.0 51.7 43.4 40.4
46 Net interest 511.9 506.5 532.7 535.3
2000 2001
Account Q4 Q1 Q2 Q3
GROSS DOMESTIC PRODUCT
1 Total 10,027.9 10,141.7 10,202.6 10,247.7
By source
2 Personal consumption
expenditures 6,871.4 6,977.6 7,044.6 7,059.0
3 Durable goods 818.7 838.1 844.7 842.2
4 Nondurable goods 2,025.1 2,047.1 2,062.3 2,057.8
5 Services 4,027.5 4,092.4 4,137.6 4,158.9
6 Gross private domestic
investment 1,780.3 1,722.8 1,669.9 1,622.6
7 Fixed investment 1,741.6 1,748.3 1,706.5 1,669.2
8 Nonresidential 1,318.2 1,311.2 1,260.2 1,219.7
9 Structures 330.9 345.8 338.6 329.7
10 Producers' durable
equipment 987.3 965.4 921.7 890.0
11 Residential
structures 423.4 437.0 446.2 449.5
12 Change in business
inventories 38.7 -25.5 -36.6 -46.6
13 Nonfarm 37.8 -26.2 -35.3 -44.0
14 Net exports of goods and
services -390.6 -363.8 -347.4 -277.3
15 Exports 1,121.0 1,117.4 1,079.6 1,028.1
16 Imports 1,511.6 1,481.2 1,427.0 1,305.4
17 Government consumption
expenditures and
gross investment 1,766.8 1,805.2 1,835.4 1,843.5
18 Federal 594.2 605.3 609.9 617.1
19 State and local 1,172.6 1,199.8 1,225.5 1,226.4
By major type of product
20 Final sales, total 9,989.2 10,167.2 10,239.1 10,294.3
21 Goods 3,670.6 3,718.8 3,715.0 3,697.9
22 Durable 1,740.7 1,755.8 1,737.2 1,704.0
23 Nondurable 1,929.9 1,963.1 1,977.8 1,993.9
24 Services 5,393.0 5,482.8 5,545.7 5,632.4
25 Structures 925.6 965.6 978.4 964.0
26 Change in business
inventories 38.7 -25.5 -36.6 -46.6
27 Durable goods 31.5 -31.0 -42.3 -47.0
28 Nondurable goods 7.2 5.5 5.8 .4
MEMO
29 Total GDP in chained
1996 dollars 9,303.9 9,334.5 9,341.7 9,333.4
NATIONAL INCOME
30 Total 8,124.0 8,169.7 8,207.9 n.a.
31 Compensation of
employees 5,868.9 5,955.7 6,010.8 6,043.9
32 Wages and salaries 4,973.2 5,049.4 5,099.8 5,129.4
33 Government and
government
enterprises 776.6 788.8 799.6 812.0
34 Other 4,196.6 4,260.6 4,300.2 4,317.5
35 Supplement to wages
and salaries 895.7 906.3 911.0 914.5
36 Employer
contributions for
social insurance 350.8 357.1 358.8 359.2
37 Other labor income 544.9 549.3 552.2 555.3
38 Proprietors' income (1) 725.2 735.2 745.3 752.3
39 Business and
professional (1) 693.5 705.4 716.6 720.5
40 Farm (1) 31.7 29.8 28.7 31.8
41 Rental income of
persons (2) 141.7 139.6 139.0 143.6
42 Corporate profits (1) 847.6 789.8 759.8 n.a.
43 Profits before tax (3) 816.5 755.7 738.3 n.a.
44 Inventory valuation
adjustment -7.3 -1.9 -8.8 n.a.
45 Capital consumption
adjustment 38.4 36.0 30.3 12.6
46 Net interest 540.6 549.4 553.0 n.a.
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
(3.) For after-tax profits, dividends, and the like, see table 1.48.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
2.17 PERSONAL INCOME AND SAVING
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
Account 1998 1999 2000
PERSONAL INCOME AND SAVING
1 Total personal income 7,426.0 7,777.3 8,319.2
2 Wage and salary disbursements 4,192.8 4,472.2 4,837.2
3 Commodity-producing
industries 1,038.5 1,088.7 1,163.7
4 Manufacturing 756.6 782.0 830.1
5 Distributive industries 948.9 1,021.0 1,095.6
6 Service industries 1,512.7 1,638.2 1,809.5
7 Government and government
enterprises 692.7 724.3 768.4
8 Other labor income 490.6 509.7 534.2
9 Proprietors' income (1) 623.8 672.0 715.0
10 Business and
professional (1) 598.2 645.4 684.4
11 Farm (1) 25.6 26.6 30.6
12 Rental income of persons (2) 138.6 147.7 141.6
13 Dividends 348.3 343.1 379.2
14 Personal interest income 964.4 950.0 1,000.6
15 Transfer payments 983.7 1,019.6 1,069.1
16 Old-age survivors,
disability, and health
insurance benefits 578.1 588.0 617.3
17 LESS: Personal
contributions for social
insurance 316.3 337.1 357.7
18 EQUALS: Personal income 7,426.0 7,777.3 8,319.2
19 Less: Personal tax and
nontax payments 1,070.4 1,159.2 1,288.2
20 EQUALS: Disposable personal
income 6,355.6 6,618.0 7,031.0
21 Less: Personal outlays 6,054.1 6,457.2 6,963.3
22 EQUALS: Personal saving 301.5 160.9 67.7
MEMO
Per capita
(chained 1996 dollars)
23 Gross domestic product 31,449.2 32,441.9 33,490.3
24 Personal consumption
expenditures 21,007.2 21,862.6 22,720.7
25 Disposable personal income 22,800.0 23,150.0 23,742.0
26 Saving rate (percent) 4.7 2.4 1.0
GROSS SAVING
27 Gross saving 1,647.2 1,707.4 1,785.7
28 Gross private saving 1,375.0 1,348.0 1,323.0
29 Personal saving 301.5 160.9 67.7
30 Undistributed corporate
profits (1) 189.9 228.7 225.3
31 Corporate inventory valuation
adjustment 18.3 -2.9 -12.4
Capital consumption
allowances
32 Corporate 620.2 669.2 727.1
33 Noncorporate 264.2 284.1 302.8
34 Gross government saving 272.2 359.4 462.8
35 Federal 132.0 210.9 315.0
36 Consumption of fixed
capital 88.2 91.7 96.4
37 Current surplus or
deficit (-), national
accounts 43.8 119.2 218.6
38 State and local 140.2 148.5 147.8
39 Consumption of fixed
capital 99.5 106.4 114.9
40 Current surplus or
deficit (-), national
accounts 40.7 42.1 32.8
41 Gross investment 1,616.2 1,634.7 1,655.3
42 Gross private domestic
investment 1,538.7 1,636.7 1,767.5
43 Gross government investment 277.1 304.6 318.3
44 Net foreign investment -199.7 -306.6 -430.5
45 Statistical discrepancy -31.0 -72.7 -130.4
2000 2001
Account Q3 Q4 Q1
PERSONAL INCOME AND SAVING
1 Total personal income 8,381.5 8,519.6 8,640.2
2 Wage and salary disbursements 4,875.8 4,973.2 5,049.4
3 Commodity-producing
industries 1,173.2 1,195.5 1,206.3
4 Manufacturing 838.0 852.2 853.3
5 Distributive industries 1,102.4 1,125.9 1,140.3
6 Service industries 1,827.6 1,875.2 1,914.0
7 Government and government
enterprises 772.6 776.6 788.8
8 Other labor income 537.9 544.9 549.3
9 Proprietors' income (1) 719.3 725.2 735.2
10 Business and
professional (1) 687.6 693.5 705.4
11 Farm (1) 31.6 31.7 29.8
12 Rental income of persons (2) 138.3 141.7 139.6
13 Dividends 385.8 396.6 404.8
14 Personal interest income 1,009.2 1,013.1 1,010.9
15 Transfer payments 1,074.6 1,089.0 1,123.1
16 Old-age survivors,
disability, and health
insurance benefits 620.9 626.5 651.4
17 LESS: Personal
contributions for social
insurance 359.4 364.1 372.1
18 EQUALS: Personal income 8,381.5 8,519.6 8,640.2
19 Less: Personal tax and
nontax payments 1,300.2 1,329.8 1,345.2
20 EQUALS: Disposable personal
income 7,081.3 7,189.8 7,295.0
21 Less: Personal outlays 7,026.9 7,115.1 7,216.2
22 EQUALS: Personal saving 54.5 74.7 78.8
MEMO
Per capita
(chained 1996 dollars)
23 Gross domestic product 33,587.6 33,661.1 33,698.5
24 Personal consumption
expenditures 22,822.4 22,941.7 23,063.1
25 Disposable personal income 23,814.0 24,006.0 24,111.0
26 Saving rate (percent) .8 1.0 1.1
GROSS SAVING
27 Gross saving 1,807.4 1,799.7 1,754.0
28 Gross private saving 1,329.6 1,332.7 1,307.9
29 Personal saving 54.5 74.7 78.8
30 Undistributed corporate
profits (1) 233.9 197.0 147.8
31 Corporate inventory valuation
adjustment -3.6 -7.3 -1.9
Capital consumption
allowances
32 Corporate 736.0 749.7 763.8
33 Noncorporate 305.2 311.3 317.5
34 Gross government saving 477.8 467.1 446.1
35 Federal 326.9 320.5 303.7
36 Consumption of fixed
capital 97.0 97.9 98.4
37 Current surplus or
deficit (-), national
accounts 229.9 222.5 205.3
38 State and local 150.9 146.6 142.5
39 Consumption of fixed
capital 116.1 118.0 120.2
40 Current surplus or
deficit (-), national
accounts 34.8 28.6 22.3
41 Gross investment 1,651.1 1,649.7 1,633.5
42 Gross private domestic
investment 1,788.4 1,780.3 1,722.8
43 Gross government investment 314.0 322.8 330.9
44 Net foreign investment -451.3 -453.4 -420.2
45 Statistical discrepancy -156.3 -150.0 -120.5
2001
Account Q2 Q3
PERSONAL INCOME AND SAVING
1 Total personal income 8,714.6 8,777.3
2 Wage and salary disbursements 5,099.8 5,129.4
3 Commodity-producing
industries 1,204.4 1,200.8
4 Manufacturing 850.2 843.5
5 Distributive industries 1,148.2 1,148.9
6 Service industries 1,947.6 1,967.7
7 Government and government
enterprises 799.6 812.0
8 Other labor income 552.2 555.3
9 Proprietors' income (1) 745.3 752.3
10 Business and
professional (1) 716.6 720.5
11 Farm (1) 28.7 31.8
12 Rental income of persons (2) 139.0 143.6
13 Dividends 411.9 420.0
14 Personal interest income 1,001.0 991.3
15 Transfer payments 1,139.4 1,160.0
16 Old-age survivors,
disability, and health
insurance benefits 660.1 671.8
17 LESS: Personal
contributions for social
insurance 374.0 374.6
18 EQUALS: Personal income 8,714.6 8,777.3
19 Less: Personal tax and
nontax payments 1,351.4 1,197.0
20 EQUALS: Disposable personal
income 7,363.2 7,580.3
21 Less: Personal outlays 7,281.7 7,293.6
22 EQUALS: Personal saving 81.5 286.7
MEMO
Per capita
(chained 1996 dollars)
23 Gross domestic product 33,639.7 33,537.1
24 Personal consumption
expenditures 23,148.7 23,168.5
25 Disposable personal income 24,200.0 24,880.0
26 Saving rate (percent) 1.1 3.8
GROSS SAVING
27 Gross saving 1,750.5 n.a.
28 Gross private saving 1,321.2 n.a.
29 Personal saving 81.5 286.7
30 Undistributed corporate
profits (1) 119.5 n.a.
31 Corporate inventory valuation
adjustment -8.8 n.a.
Capital consumption
allowances
32 Corporate 785.6 847.7
33 Noncorporate 334.6 329.8
34 Gross government saving 429.3 n.a.
35 Federal 286.2 n.a.
36 Consumption of fixed
capital 99.4 99.9
37 Current surplus or
deficit (-), national
accounts 186.7 n.a.
38 State and local 143.2 n.a.
39 Consumption of fixed
capital 121.9 129.5
40 Current surplus or
deficit (-), national
accounts 21.3 n.a.
41 Gross investment 1,607.3 n.a.
42 Gross private domestic
investment 1,669.9 1,622.6
43 Gross government investment 344.0 335.7
44 Net foreign investment -406.6 n.a.
45 Statistical discrepancy -143.2 n.a.
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted
except as noted (1)
Item credits or debits 1998 1999 2000
1 Balance on current account -217,457 -324,364 -444,667
2 Balance on goods and
services -166,828 -261,838 -375,739
3 Exports 932,694 957,353 1,065,702
4 Imports -1,099,522 -1,219,191 -1,441,441
5 Income, net -6,202 -13,613 -14,792
6 Investment, net -1,211 -8,511 -9,621
7 Direct 66,253 67,044 81,231
8 Portfolio -67,464 -75,555 -90,852
9 Compensation of
employees -4,991 -5,102 -5,171
10 Unilateral current
transfers, net -44,427 -48,913 -54,136
11 Change in U.S. government
assets other than
official reserve assets,
net (increase, -) -422 2,751 -944
12 Change in U.S. official
reserve assets
(increase, -) -6,783 8,747 -290
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -147 10 -722
15 Reserve position in
International
Monetary Fund -5,119 5,484 2,308
16 Foreign currencies -1,517 3,253 -1,876
17 Change in U.S. private
assets abroad
(increase, -) -352,427 -448,565 -579,718
18 Bank-reported claims (2) -35,572 -76,263 -138,500
19 Nonbank-reported claims -38,204 -85,700 -163,846
20 U.S. purchase of foreign
securities, net -136,135 -131,217 -124,935
21 U.S. direct investments
abroad, net -142,516 -155,385 -152,437
22 Change in foreign official
assets in United States
(increase, +) -19,948 43,551 37,619
23 U.S. Treasury securities -9,921 12,177 -10,233
24 Other U.S. government
obligations 6,332 20,350 40,909
25 Other U.S. government
liabilities (2) -3,371 -2,855 -1,987
26 Other U.S. liabilities
reported by U.S.
banks (2) -9,501 12,964 5,803
27 Other foreign official
assets (3) -3,487 915 3,127
28 Change in foreign private
assets in United States
(increase, +) 524,412 770,193 986,599
29 U.S. bank-reported
liabilities (4) 39,769 54,232 87,953
30 U.S. nonbank-reported
liabilities 23,140 69,075 177,010
31 Foreign private purchases
of U.S. Treasury
securities, net 48,581 -20,490 -52,792
32 U.S. currency flows 16,622 22,407 1,129
33 Foreign purchases of
other U.S. securities,
net 218,091 343,963 485,644
34 Foreign direct
investments in United
States, net 178,209 301,006 287,655
35 Capital account
transactions, net (5) 678 -3,491 705
36 Discrepancy 71,947 -48,822 696
37 Due to seasonal
adjustment ... ... ...
38 Before seasonal
adjustment 71,947 -48,822 696
MEMO
Changes in official assets
39 U.S. official reserve
assets (increase, -) -6,783 8,747 -290
40 Foreign official assets in
United States, excluding
line 25 (increase, +) -16,577 46,406 39,606
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States
(part of line 22) -11,531 1,621 11,582
2000 2001
Item credits or debits Q3 Q4 Q1
1 Balance on current account -115,305 -116,324 -111,778
2 Balance on goods and
services -97,340 -100,293 -95,023
3 Exports 272,497 270,131 269,092
4 Imports -369,837 -370,424 -364,115
5 Income, net -4,885 642 -5,021
6 Investment, net -3,620 1,971 -3,661
7 Direct 21,049 25,703 22,673
8 Portfolio -24,669 -23,732 -26,334
9 Compensation of
employees -1,265 -1,329 -1,360
10 Unilateral current
transfers, net -13,080 -16,673 -11,734
11 Change in U.S. government
assets other than
official reserve assets,
net (increase, -) 114 -359 21
12 Change in U.S. official
reserve assets
(increase, -) -346 -1,410 190
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -182 -180 -189
15 Reserve position in
International
Monetary Fund 1,300 -1,083 574
16 Foreign currencies -1,464 -147 -195
17 Change in U.S. private
assets abroad
(increase, -) -107,495 -179,779 -243,331
18 Bank-reported claims (2) -18,147 -71,574 -109,789
19 Nonbank-reported claims -14,585 -44,514 -61,011
20 U.S. purchase of foreign
securities, net -33,129 -24,621 -31,591
21 U.S. direct investments
abroad, net -41,634 -39,070 -40,940
22 Change in foreign official
assets in United States
(increase, +) 12,247 -3,573 4,898
23 U.S. Treasury securities -9,001 -13,436 -1,027
24 Other U.S. government
obligations 14,272 8,196 3,574
25 Other U.S. government
liabilities (2) -220 -293 -1,246
26 Other U.S. liabilities
reported by U.S.
banks (2) 6,884 980 2,594
27 Other foreign official
assets (3) 312 980 1,003
28 Change in foreign private
assets in United States
(increase, +) 209,861 298,894 341,762
29 U.S. bank-reported
liabilities (4) -1,910 43,365 6,890
30 U.S. nonbank-reported
liabilities 19,078 48,344 130,624
31 Foreign private purchases
of U.S. Treasury
securities, net -12,503 -10,395 656
32 U.S. currency flows 757 6,230 2,311
33 Foreign purchases of
other U.S. securities,
net 128,393 126,643 148,809
34 Foreign direct
investments in United
States, net 76,046 84,707 52,472
35 Capital account
transactions, net (5) 175 184 173
36 Discrepancy 749 2,367 8,065
37 Due to seasonal
adjustment -9,977 3,856 8,821
38 Before seasonal
adjustment 10,726 -1,489 -756
MEMO
Changes in official assets
39 U.S. official reserve
assets (increase, -) -346 -1,410 190
40 Foreign official assets in
United States, excluding
line 25 (increase, +) 12,467 -3,280 6,144
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States
(part of line 22) 3,636 164 589
2001
Item credits or debits Q2 (r) Q3 (p)
1 Balance on current account -107,576 -94,980
2 Balance on goods and
services -90,543 -77,587
3 Exports 259,315 243,391
4 Imports -349,858 -320,978
5 Income, net -4,995 -5,038
6 Investment, net -3,658 -3,716
7 Direct 23,426 24,045
8 Portfolio -27,084 -27,761
9 Compensation of
employees -1,337 -1,322
10 Unilateral current
transfers, net -12,038 -12,355
11 Change in U.S. government
assets other than
official reserve assets,
net (increase, -) -786 23
12 Change in U.S. official
reserve assets
(increase, -) -1,343 -3,559
13 Gold 0 0
14 Special drawing rights
(SDRs) -156 -145
15 Reserve position in
International
Monetary Fund -1,015 -3,242
16 Foreign currencies -172 -172
17 Change in U.S. private
assets abroad
(increase, -) -70,046 -11,847
18 Bank-reported claims (2) -105 56,025
19 Nonbank-reported claims 22,232 -29,773
20 U.S. purchase of foreign
securities, net -51,109 13,963
21 U.S. direct investments
abroad, net -41,064 -52,062
22 Change in foreign official
assets in United States
(increase, +) -20,879 16,814
23 U.S. Treasury securities -20,783 15,810
24 Other U.S. government
obligations 9,932 -216
25 Other U.S. government
liabilities (2) -926 113
26 Other U.S. liabilities
reported by U.S.
banks (2) -10,130 -874
27 Other foreign official
assets (3) 1,028 1,981
28 Change in foreign private
assets in United States
(increase, +) 247,460 35,297
29 U.S. bank-reported
liabilities (4) 44,271 -54,015
30 U.S. nonbank-reported
liabilities 3,375 -13,298
31 Foreign private purchases
of U.S. Treasury
securities, net -8,678 -9,436
32 U.S. currency flows 2,772 8,203
33 Foreign purchases of
other U.S. securities,
net 140,512 77,455
34 Foreign direct
investments in United
States, net 65,208 26,388
35 Capital account
transactions, net (5) 177 182
36 Discrepancy -47,007 58,070
37 Due to seasonal
adjustment -1,835 -8,617
38 Before seasonal
adjustment -45,172 66,687
MEMO
Changes in official assets
39 U.S. official reserve
assets (increase, -) -1,343 -3,559
40 Foreign official assets in
United States, excluding
line 25 (increase, +) -19,953 16,701
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States
(part of line 22) -1,743 -4,057
(1.) Seasonal factors are not calculated for lines 11-16,
18-20, 22-35, and 38-41.
(2.) Associated primarily with military sales contracts and
other transactions arranged with or through foreign
official agencies.
(3.) Consists of investments in U.S. corporate stocks and in debt
securities of private corporations and state and local governments.
(4.) Reporting banks included all types of depository institutions
as well as some brokers and dealers.
(5.) Consists of capital transfers (such as those of accompanying
migrants entering or leaving the country and debt forgiveness)
and the acquisition and disposal of nonproduced nonfinancial assets.
SOURCE. U.S. Department of Commerce, Bureau of Economic Analysis,
Survey of Current Business.
3.11 U.S. FOREIGN TRADE (1)
Millions of dollars; monthly data seasonally adjusted
Item 1998 1999 2000
1 Goods and services,
balance -166,686 -261,838 -375,739
2 Merchandise -246,855 -345,434 -452,207
3 Services 79,868 83,596 76,468
4 Goods and services,
exports 933,053 957,353 1,065,702
5 Merchandise 670,324 684,553 772,210
6 Services 262,729 272,800 293,492
7 Goods and services,
imports -1,099,739 -1,219,191 -1,441,441
8 Merchandise -917,179 -1,029,987 -1,224,417
9 Services -182,560 -189,204 -217,024
2001
Item Mar. Apr. May June
1 Goods and services,
balance -32,957 -31,518 -28,210 -29,068
2 Merchandise -38,781 -37,656 -34,449 -35,553
3 Services 5,824 6,138 6,239 6,485
4 Goods and services,
exports 88,636 87,064 87,571 85,898
5 Merchandise 63,884 62,170 62,846 60,848
6 Services 24,752 24,894 24,725 25,050
7 Goods and services,
imports -121,593 -118,582 -115,781 -114,966
8 Merchandise -102,665 -99,826 -97,295 -96,401
9 Services -18,928 -18,756 -18,486 -18,565
2001
Item July Aug. Sept. (p)
1 Goods and services,
balance -29,168 -27,106 -18,692
2 Merchandise -35,838 -34,073 -35,917
3 Services 6,670 6,967 17,225
4 Goods and services,
exports 83,595 84,513 77,293
5 Merchandise 58,688 59,533 55,554
6 Services 24,907 24,980 21,739
7 Goods and services,
imports -112,763 -111,619 -95,985
8 Merchandise -94,526 -93,606 -91,471
9 Services -18,237 -18,013 -4,514
(1.) Data show monthly values consistent with quarterly figures in the
U.S. balance of payments accounts.
SOURCE. FT900, U.S. Department of Commerce, Bureau of the Census and
Bureau of Economic Analysis.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
2001
Asset 1998 1999 2000 Apr.
1 Total 81,761 71,516 67,647 64,731
2 Gold stock (1) 11,046 11,048 11,046 11,046
3 Special drawing rights (2,3) 10,603 10,336 10,539 10,420
4 Reserve position in
International Monetary 24,111 17,950 14,824 13,816
Fund (2)
5 Foreign currencies (4) 36,001 32,182 31,238 29,449
2001
Asset May June July Aug.
1 Total 65,254 64,847 65,736 67,852
2 Gold stock (1) 11,044 11,044 11,044 11,044
3 Special drawing rights (2,3) 10,481 10,409 10,518 10,913
4 Reserve position in
International Monetary 14,283 14,619 14,965 15,297
Fund (2)
5 Foreign currencies (4) 29,446 28,775 29,209 30,598
2001
Asset Sept. Oct. Nov. (p)
1 Total 70,963 69,707 69,158
2 Gold stock (1) 11,045 11,045 11,045
3 Special drawing rights (2,3) 10,919 10,827 10,864
4 Reserve position in
International Monetary 18,404 17,787 17,293
Fund (2)
5 Foreign currencies (4) 30,595 30,048 29,956
(1.) Gold held "under earmark" at Federal Reserve Banks for
foreign and international accounts is not included in the gold
stock of the United States; see table 3.13, line 3. Gold
stock is valued at $42.22 per fine troy ounce.
(2.) Special drawing rights (SDRs) are valued according to a
technique adopted by the International Monetary Fund (IMF) in
July 1974. Values are based on a weighted average of exchange rates
for the currencies of member countries. From July 1974 through December
1980, sixteen currencies were used; since January 1981, five
currencies have been used. U.S. SDR holdings and reserve positions in
the IMF also have been valued on this basis since July 1974.
(3.) Includes allocations of SDRs by the International Monetary
Fund on Jan. 1 of the year indicated, as follows: 1970-$867 million;
1971-$717 million; 1972-$710 million; 1979-$1,139 million;
1980-$1,152 million; 1981-$1,093 million; plus net transactions
in SDRs.
(4.) Valued at current market exchange rates.
3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS (1)
Millions of dollars, end of period
2001
Asset 1998 1999 2000 Apr.
1 Deposits 167 71 215 101
Held in custody
2 U.S. Treasury securities (2) 607,574 632,482 594,094 585,710
3 Earmarked gold (3) 10,343 9,933 9,451 9,215
2001
Asset May June July Aug.
1 Deposits 86 102 84 80
Held in custody
2 U.S. Treasury securities (2) 583,655 586,607 578,573 590,820
3 Earmarked gold (3) 9,154 9,100 9,100 9,100
2001
Asset Sept. Oct. Nov. (p)
1 Deposits 608 75 528
Held in custody
2 U.S. Treasury securities (2) 587,566 599,043 600,129
3 Earmarked gold (3) 9,100 9,099 9,099
(1.) Excludes deposits and U.S. Treasury securities held for
international and regional organizations
(2.) Marketable U.S. Treasury bills, notes, and bonds and
nonmarketable U.S. Treasury securities, in each case measured
at face (not market) value.
(3.) Held in foreign and international accounts and valued at
$42.22 per fine troy ounce; not included in the gold stock of
the United States.
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2001
Item 1999 2000 Mar. Apr. May
1 Total (1) 806,318 845,869 865,426 855,098 837,267
By type
2 Liabilities
reported by
banks in the
United States
(2) 138,847 144,593 154,601 158,387 143,921
3 U.S. Treasury
bills and
certificates (3) 156,177 153,010 155,204 144,158 137,933
U.S. Treasury
bonds and
notes
4 Marketable 422,266 415,964 419,106 410,066 410,979
5 Nonmarketable
(4) 6,111 5,348 4,984 5,017 5,049
6 U.S. securities
other than U.S.
Treasury
securities (5) 82,917 126,954 131,531 137,470 139,385
By area
7 Europe (1) 244,805 253,592 250,420 247,128 251,505
8 Canada 12,503 12,394 10,396 10,474 10,967
9 Latin America and
Caribbean 73,518 76,753 79,143 79,410 76,135
10 Asia 463,703 488,170 511,025 501,085 482,990
11 Africa 7,523 9,165 9,102 9,341 9,272
12 Other countries 4,266 5,795 5,340 7,660 6,398
2001
Aug. Sept.
Item June July (r) (p)
1 Total (1) 835,474 845,155 839,457 852,175
By type
2 Liabilities
reported by
banks in the
United States
(2) 144,471 151,858 137,621 143,597
3 U.S. Treasury
bills and
certificates (3) 139,195 143,288 151,850 153,899
U.S. Treasury
bonds and
notes
4 Marketable 407,736 406,995 407,338 409,887
5 Nonmarketable
(4) 5,081 4,846 4,805 4,036
6 U.S. securities
other than U.S.
Treasury
securities (5) 138,991 138,168 137,843 140,756
By area
7 Europe (1) 252,391 262,830 260,593 262,568
8 Canada 11,573 11,727 12,033 11,299
9 Latin America and
Caribbean 79,094 79,359 76,251 75,751
10 Asia 478,284 475,475 474,650 488,358
11 Africa 9,054 10,574 9,864 10,249
12 Other countries 5,078 5,190 6,066 3,950
(1.) Includes the Bank for International Settlements.
(2.) Principally demand deposits, time deposits, bankers acceptances,
commercial paper, negotiable time certificates of deposit, and
borrowings under repurchase agreements.
(3.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(4.) Excludes notes issued to foreign official nonreserve agencies.
Includes current value of zero-coupon Treasury bond issues to foreign
governments as follows: Mexico, beginning March 1988, 20-year maturity
issue, and beginning March 1990, 30-year maturity issue; Venezuela,
beginning December 1990, 30-year maturity issue; Argentina, beginning
April 1993, 30-year maturity issue.
(5.) Debt securities of U.S. government corporations and federally
sponsored agencies, and U.S. corporate stocks and bonds.
SOURCE. Based on U.S. Department of the Treasury data and on data
reported to the department by banks (including Federal Reserve Banks)
and securities dealers in the United States, and on the 1994 benchmark
survey of foreign portfolio investment in the United States.
3.16 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Reported by Banks in the United States (1)
Payable in Foreign Currencies
Millions of dollars, end of period
Item 1997 1998 1999
1 Banks' liabilities 117,524 101,125 88,537
2 Banks' claims 83,038 78,162 67,365
3 Deposits 28,661 45,985 34,426
4 Other claims 54,377 32,177 32,939
5 Claims of banks' domestic
customers (2) 8,191 20,718 20,826
2000 2001
Item Sept. Dec. Mar. June
1 Banks' liabilities 78,852 76,345 89,394 107,593
2 Banks' claims 60,355 56,647 73,179 77,423
3 Deposits 26,306 23,292 29,902 32,765
4 Other claims 34,049 33,355 43,277 44,658
5 Claims of banks' domestic
customers (2) 19,123 24,411 21,105 21,144
(1.) Data on claims exclude foreign currencies held by U.S.
monetary authorities.
(2.) Assets owned by customers of the reporting bank located in the
United States that represent claims on foreigners held by reporting
banks for the accounts of the domestic customers.
3.17 LIABILITIES TO FOREIGNERS Reported by Banks in the
United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Item 1998 1999 2000
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all
foreigners 1,347,837 1,408,740 1,511,380 (r)
2 Banks' own
liabilities 884,939 971,536 1,077,606 (r)
3 Demand deposits 29,558 42,884 33,365
4 Time deposits (2) 151,761 163,620 187,883
5 Other (3) 140,752 155,853 171,401 (r)
6 Own foreign
offices (4) 562,868 609,179 684,957
7 Banks' custodial
liabilities (5) 462,898 437,204 433,774
8 U.S. Treasury
bills and
certificates (6) 183,494 185,676 177,846
9 Short-term agency
securities (7) n.a. n.a. n.a.
10 Other negotiable
and readily
transferable
instruments (8) 141,699 132,617 145,840
11 Other 137,705 118,911 110,088
12 Nonmonetary
international
and regional
organiza-
tions (9) 11,883 15,276 12,542
13 Banks' own
liabilities 10,850 14,357 12,140
14 Demand deposits 172 98 41
15 Time
deposits (2) 5,793 10,349 6,246
16 Other (3) 4,885 3,910 5,853
17 Banks' custodial
liabili-
ties (5) 1,033 919 402
18 U.S. Treasury
bills and
certifi-
cates (6) 636 680 252
19 Short-term
agency
securities (7) n.a. n.a. n.a.
20 Other negotiable
and readily
transferable
instru-
ments (8) 397 233 149
21 Other 0 6 1
22 Official
institu-
tions (10) 260,060 295,024 297,603
23 Banks' own
liabilities 80,256 97,615 96,989
24 Demand deposits 3,003 3,341 3,952
25 Time
deposits (2) 29,506 28,942 35,573
26 Other (3) 47,747 65,332 57,464
27 Banks' custodial
liabili-
ties (5) 179,804 197,409 200,614
28 U.S. Treasury
bills and
certifi-
cates (6) 134,177 156,177 153,010
29 Short-term
agency
securities (7) n.a. n.a. n.a.
30 Other negotiable
and readily
transferable
instru-
ments (8) 44,953 41,182 47,366
31 Other 674 50 238
32 Banks (11) 885,336 900,379 972,902
33 Banks' own
liabilities 676,057 728,492 821,276
34 Unaffiliated
foreign banks 113,189 119,313 136,319
35 Demand
deposits 14,071 17,583 15,522
36 Time
deposits (2) 45,904 48,140 66,904
37 Other (3) 53,214 53,590 53,893
38 Own foreign
offices (4) 562,868 609,179 684,957
39 Banks' custodial
liabilities
(5) 209,279 171,887 151,626
40 U.S. Treasury
bills and
certifi-
cates (6) 35,359 16,796 16,023
41 Short-term
agency
securities (7) n.a. n.a. n.a.
42 Other negotiable
and readily
transferable
instru-
ments (8) 45,332 45,695 36,036
43 Other 128,588 109,396 99,567
44 Other foreigners 190,558 198,061 228,333 (r)
45 Banks' own
liabilities 117,776 131,072 147,201 (r)
46 Demand deposits 12,312 21,862 13,850
47 Time
deposits (2) 70,558 76,189 79,160
48 Other (3) 34,906 33,021 54,191 (r)
49 Banks' custodial
liabilities (5) 72,782 66,989 81,132
50 U.S. Treasury
bills and
certificates (6) 13,322 12,023 8,561
51 Short-term agency
securities (7) n.a. n.a. n.a.
52 Other negotiable
and readily
transferable
instruments (8) 51,017 45,507 62,289
53 Other 8,443 9,459 10,282
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 27,026 30,345 34,217
55 Repurchase
agreements (7) n.a. n.a. n.a.
AREA
56 Total, all
foreigners 1,347,837 1,408,740 1,511,380 (r)
57 Foreign countries 1,335,954 1,393,464 1,498,837 (r)
58 Europe 427,375 441,810 446,788
59 Austria 3,178 2,789 2,692
60 Belgium (12) 42,818 44,692 33,399
61 Denmark 1,437 2,196 3,000
62 Finland 1,862 1,658 1,411
63 France 44,616 49,790 37,833
64 Germany 21,357 24,753 35,519
65 Greece 2,066 3,748 2,011
66 Italy 7,103 6,775 5,072
67 Luxembourg (12) n.a. n.a. n.a.
68 Netherlands 10,793 8,143 7,047
69 Norway 710 1,327 2,305
70 Portugal 3,236 2,228 2,403
71 Russia 2,439 5,475 19,018
72 Spain 15,781 10,426 7,787
73 Sweden 3,027 4,652 6,497
74 Switzerland 50,654 63,485 74,635
75 Turkey 4,286 7,842 7,548
76 United Kingdom 181,554 172,687 167,757
77 Channel Islands
and Isle of
Man (13) n.a. n.a. n.a.
78 Yugoslavia (14) 233 286 276
79 Other Europe and
other former
U.S.S.R. (15) 30,225 28,858 30,578
80 Canada 30,212 34,214 30,982
81 Latin America 121,327 117,495 120,041 (r)
82 Argentina 19,014 18,633 19,451
83 Brazil 15,815 12,865 10,852
84 Chile 5,015 7,008 5,892
85 Colombia 4,624 5,669 4,542
86 Ecuador 1,572 1,956 2,112 (r)
87 Guatemala 1,336 1,626 1,601
88 Mexico 37,157 30,717 32,166
89 Panama 3,864 4,415 4,240
90 Peru 840 1,142 1,427
91 Uruguay 2,486 2,386 3,003
92 Venezuela 19,894 20,192 24,730
93 Other Latin
America (16) 9,710 10,886 10,025
94 Caribbean 433,539 461,200 573,337
95 Bahamas 118,085 135,811 189,298
96 Bermuda 6,846 7,874 9,636
97 British West
Indies (17) 302,486 312,278 367,197
98 Cayman
Islands (17) n.a. n.a. n.a.
99 Cuba 62 75 90
100 Jamaica 577 520 794
101 Netherlands
Antilles 5,010 4,047 5,428
102 Trinidad and
Tobago 473 595 894
103 Other
Caribbean (16) n.a. n.a. n.a.
104 Asia 307,960 319,489 305,524
China
105 Mainland 13,441 12,325 16,531
106 Taiwan 12,708 13,603 17,352
107 Hong Kong 20,900 27,701 26,462
108 India 5,250 7,367 4,530
109 Indonesia 8,282 6,567 8,514
110 Israel 7,749 7,488 8,053
111 Japan 168,563 159,075 150,415
112 Korea (South) 12,524 12,988 7,955
113 Philippines 3,324 3,268 2,316
114 Thailand 7,359 6,050 3,117
115 Middle Eastern
oil-exporting
countries (18) 15,609 21,314 23,733
116 Other 32,251 41,743 36,546
117 Africa 8,905 9,468 10,824
118 Egypt 1,339 2,022 2,621
119 Morocco 97 179 139
120 South Africa 1,522 1,495 1,010
121 Congo
(formerly Zaire) 5 14 4
122 Oil-exporting
countries (19) 3,088 2,914 4,052
123 Other 2,854 2,844 2,998
124 Other countries 6,636 9,788 11,341
125 Australia 5,495 8,377 10,070
126 New Zealand (20) n.a. n.a. n.a.
127 All other 1,141 1,411 1,271
128 Nonmonetary
international
and regional
organizations 11,883 15,276 12,543
129 International (21) 10,221 12,876 11,270
130 Latin American
regional (22) 594 1,150 740
131 Other
regional (23) 1,068 1,250 533
2001
Item Mar. Apr.
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all
foreigners 1,505,606 1,530,622 (r)
2 Banks' own
liabilities 1,076,302 1,093,322
3 Demand deposits 33,918 30,210
4 Time deposits (2) 182,257 189,539
5 Other (3) 200,280 202,213
6 Own foreign
offices (4) 659,847 671,360
7 Banks' custodial
liabilities (5) 429,304 437,300 (r)
8 U.S. Treasury
bills and
certificates (6) 171,823 160,702 (r)
9 Short-term agency
securities (7) 71,454 69,543
10 Other negotiable
and readily
transferable
instruments (8) 65,154 78,258 (r)
11 Other 120,873 128,797 (r)
12 Nonmonetary
international
and regional
organiza-
tions (9) 12,290 12,833
13 Banks' own
liabilities 11,746 12,344
14 Demand deposits 23 14
15 Time
deposits (2) 5,302 5,301
16 Other (3) 6,421 7,029
17 Banks' custodial
liabili-
ties (5) 544 489
18 U.S. Treasury
bills and
certifi-
cates (6) 229 170
19 Short-term
agency
securities (7) 137 144
20 Other negotiable
and readily
transferable
instru-
ments (8) 177 175
21 Other 1 0
22 Official
institu-
tions (10) 309,805 302,545
23 Banks' own
liabilities 97,028 103,454
24 Demand deposits 3,511 2,552
25 Time
deposits (2) 27,959 31,985
26 Other (3) 65,558 68,917
27 Banks' custodial
liabili-
ties (5) 212,777 199,091
28 U.S. Treasury
bills and
certifi-
cates (6) 155,204 144,158
29 Short-term
agency
securities (7) 53,295 51,107
30 Other negotiable
and readily
transferable
instru-
ments (8) 4,064 3,325
31 Other 214 501
32 Banks (11) 959,967 (r) 966,229 (r)
33 Banks' own
liabilities 812,697 (r) 816,622 (r)
34 Unaffiliated
foreign banks 152,850 (r) 145,262 (r)
35 Demand
deposits 16,433 13,030
36 Time
deposits (2) 72,926 72,535
37 Other (3) 63,491 (r) 59,697 (r)
38 Own foreign
offices (4) 659,847 671,360
39 Banks' custodial
liabilities
(5) 147,270 149,607 (r)
40 U.S. Treasury
bills and
certifi-
cates (6) 7,922 7,233
41 Short-term
agency
securities (7) 2,324 2,824
42 Other negotiable
and readily
transferable
instru-
ments (8) 27,817 25,738 (r)
43 Other 109,207 113,812 (r)
44 Other foreigners 223,544 (r) 249,015 (r)
45 Banks' own
liabilities 154,831 (r) 160,902 (r)
46 Demand deposits 13,951 14,614
47 Time
deposits (2) 76,070 79,718
48 Other (3) 64,810 (r) 66,570 (r)
49 Banks' custodial
liabilities (5) 68,713 88,113 (r)
50 U.S. Treasury
bills and
certificates (6) 8,468 9,141 (r)
51 Short-term agency
securities (7) 15,698 15,468
52 Other negotiable
and readily
transferable
instruments (8) 33,096 49,020 (r)
53 Other 11,451 14,484
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 24,518 26,238
55 Repurchase
agreements (7) 129,671 119,577
AREA
56 Total, all
foreigners 1,505,606 1,530,622 (r)
57 Foreign countries 1,493,315 1,517,788 (r)
58 Europe 429,577 431,297 (r)
59 Austria 2,178 2,771
60 Belgium (12) 5,432 5,309
61 Denmark 2,919 3,412
62 Finland 1,286 1,769
63 France 42,758 39,125
64 Germany 30,863 29,591 (r)
65 Greece 1,496 1,336
66 Italy 5,853 5,272 (r)
67 Luxembourg (12) 12,585 14,505
68 Netherlands 7,079 10,146 (r)
69 Norway 8,362 4,807 (r)
70 Portugal 1,731 1,949
71 Russia 18,625 19,917
72 Spain 9,503 7,750
73 Sweden 6,738 6,025
74 Switzerland 54,038 66,008 (r)
75 Turkey 5,646 4,556 (r)
76 United Kingdom 147,123 137,957
77 Channel Islands
and Isle of
Man (13) 36,040 36,013
78 Yugoslavia (14) 292 303
79 Other Europe and
other former
U.S.S.R. (15) 29,030 32,776
80 Canada 24,273 27,964 (r)
81 Latin America 114,697 117,645 (r)
82 Argentina 12,932 14,671 (r)
83 Brazil 10,576 10,860 (r)
84 Chile 5,176 5,450 (r)
85 Colombia 4,362 4,620 (r)
86 Ecuador 2,202 2,187 (r)
87 Guatemala 1,515 1,564 (r)
88 Mexico 34,105 34,290 (r)
89 Panama 4,034 3,493 (r)
90 Peru 1,792 1,770
91 Uruguay 3,366 3,411 (r)
92 Venezuela 27,462 27,892 (r)
93 Other Latin
America (16) 7,175 7,437 (r)
94 Caribbean 582,825 605,861 (r)
95 Bahamas 174,156 177,506
96 Bermuda 8,402 8,317 (r)
97 British West
Indies (17) n.a. n.a.
98 Cayman
Islands (17) 381,129 401,809
99 Cuba 85 83
100 Jamaica 1,207 867
101 Netherlands
Antilles 4,510 4,523
102 Trinidad and
Tobago 1,038 1,114
103 Other
Caribbean (16) 12,298 11,642 (r)
104 Asia 320,705 311,719 (r)
China
105 Mainland 39,924 34,689
106 Taiwan 17,891 19,963
107 Hong Kong 29,103 26,581
108 India 4,547 4,113
109 Indonesia 8,605 10,728
110 Israel 8,803 7,095
111 Japan 146,446 144,863 (r)
112 Korea (South) 6,541 5,879 (r)
113 Philippines 1,461 1,669 (r)
114 Thailand 3,253 2,936 (r)
115 Middle Eastern
oil-exporting
countries (18) 21,651 20,522 (r)
116 Other 32,480 32,681
117 Africa 10,566 10,662 (r)
118 Egypt 2,282 2,213
119 Morocco 133 139
120 South Africa 652 794 (r)
121 Congo
(formerly Zaire) 8 5
122 Oil-exporting
countries (19) 4,593 4,752
123 Other 2,898 2,759
124 Other countries 10,672 12,640 (r)
125 Australia 9,472 11,391 (r)
126 New Zealand (20) 427 503
127 All other 773 746
128 Nonmonetary
international
and regional
organizations 12,291 12,834
129 International (21) 11,379 11,335
130 Latin American
regional (22) 272 327
131 Other
regional (23) 640 620
2001
Item
May June
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all
foreigners 1,533,304 (r) 1,519,682 (r)
2 Banks' own
liabilities 1,115,113 1,096,127 (r)
3 Demand deposits 29,123 32,833 (r)
4 Time deposits (2) 181,613 180,645
5 Other (3) 207,146 212,874
6 Own foreign
offices (4) 697,231 669,775
7 Banks' custodial
liabilities (5) 418,191 (r) 423,555 (r)
8 U.S. Treasury
bills and
certificates (6) 156,022 (r) 156,525 (r)
9 Short-term agency
securities (7) 62,425 60,081
10 Other negotiable
and readily
transferable
instruments (8) 80,917 (r) 78,790 (r)
11 Other 118,827 (r) 128,159 (r)
12 Nonmonetary
international
and regional
organiza-
tions (9) 14,668 13,818
13 Banks' own
liabilities 14,342 13,479
14 Demand deposits 15 28
15 Time
deposits (2) 3,532 4,228
16 Other (3) 10,795 9,223
17 Banks' custodial
liabili-
ties (5) 326 339
18 U.S. Treasury
bills and
certifi-
cates (6) 105 68
19 Short-term
agency
securities (7) 132 134
20 Other negotiable
and readily
transferable
instru-
ments (8) 87 137
21 Other 2 0
22 Official
institu-
tions (10) 281,854 283,666
23 Banks' own
liabilities 96,696 100,053
24 Demand deposits 2,522 2,465
25 Time
deposits (2) 26,625 32,752
26 Other (3) 67,549 64,836
27 Banks' custodial
liabili-
ties (5) 185,158 183,613
28 U.S. Treasury
bills and
certifi-
cates (6) 137,933 139,195
29 Short-term
agency
securities (7) 43,193 40,301
30 Other negotiable
and readily
transferable
instru-
ments (8) 3,509 3,647
31 Other 523 470
32 Banks (11) 990,190 (r) 969,810 (r)
33 Banks' own
liabilities 845,636 (r) 816,666 (r)
34 Unaffiliated
foreign banks 148,405 (r) 146,891 (r)
35 Demand
deposits 12,143 15,211
36 Time
deposits (2) 70,700 64,249
37 Other (3) 65,562 (r) 67,431 (r)
38 Own foreign
offices (4) 697,231 669,775
39 Banks' custodial
liabilities
(5) 144,554 (r) 153,144 (r)
40 U.S. Treasury
bills and
certifi-
cates (6) 8,535 8,455
41 Short-term
agency
securities (7) 3,772 3,169
42 Other negotiable
and readily
transferable
instru-
ments (8) 28,319 (r) 27,836 (r)
43 Other 103,928 (r) 113,684 (r)
44 Other foreigners 246,592 (r) 252,388 (r)
45 Banks' own
liabilities 158,439 (r) 165,929 (r)
46 Demand deposits 14,443 15,129 (r)
47 Time
deposits (2) 80,756 79,416
48 Other (3) 63,240 (r) 71,384 (r)
49 Banks' custodial
liabilities (5) 88,153 (r) 86,459 (r)
50 U.S. Treasury
bills and
certificates (6) 9,449 (r) 8,807 (r)
51 Short-term agency
securities (7) 15,328 16,477
52 Other negotiable
and readily
transferable
instruments (8) 49,002 (r) 47,170 (r)
53 Other 14,374 14,005
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 25,912 24,884
55 Repurchase
agreements (7) 119,901 126,508
AREA
56 Total, all
foreigners 1,533,304 (r) 1,519,682
57 Foreign countries 1,518,635 (r) 1,505,863
58 Europe 464,658 (r) 458,147
59 Austria 2,593 2,026
60 Belgium (12) 5,895 6,270
61 Denmark 2,910 3,063
62 Finland 1,144 2,395
63 France 40,209 40,077
64 Germany 30,341 (r) 32,358
65 Greece 1,525 1,653
66 Italy 5,534 (r) 6,767
67 Luxembourg (12) 15,046 14,961
68 Netherlands 10,772 9,621
69 Norway 2,573 (r) 4,584
70 Portugal 2,041 2,287
71 Russia 21,357 22,839
72 Spain 7,886 7,412
73 Sweden 5,284 5,507
74 Switzerland 93,211 (r) 73,119
75 Turkey 7,171 (r) 5,487
76 United Kingdom 139,507 146,207
77 Channel Islands
and Isle of
Man (13) 34,742 34,994
78 Yugoslavia (14) 301 297
79 Other Europe and
other former
U.S.S.R. (15) 34,616 36,223
80 Canada 25,984 (r) 25,973
81 Latin America 113,608 (r) 117,601
82 Argentina 12,647 (r) 16,485
83 Brazil 11,266 (r) 12,588
84 Chile 5,702 (r) 5,491
85 Colombia 4,746 (r) 4,631
86 Ecuador 2,140 (r) 1,981
87 Guatemala 1,594 (r) 1,515
88 Mexico 33,192 (r) 33,349
89 Panama 3,654 (r) 3,525
90 Peru 1,535 1,614
91 Uruguay 3,333 (r) 3,026
92 Venezuela 26,920 26,940
93 Other Latin
America (16) 6,879 (r) 6,456
94 Caribbean 600,406 (r) 598,251
95 Bahamas 190,142 187,469
96 Bermuda 7,020 (r) 7,816
97 British West
Indies (17) n.a. n.a.
98 Cayman
Islands (17) 385,784 384,439
99 Cuba 84 85
100 Jamaica 1,101 963
101 Netherlands
Antilles 3,402 3,892
102 Trinidad and
Tobago 1,237 1,272
103 Other
Caribbean (16) 11,636 (r) 12,315
104 Asia 291,831 (r) 284,087
China
105 Mainland 23,156 15,390
106 Taiwan 18,119 19,862
107 Hong Kong 27,348 29,180
108 India 4,281 4,043
109 Indonesia 10,602 (r) 10,567
110 Israel 8,282 8,696
111 Japan 141,250 (r) 137,072
112 Korea (South) 5,854 (r) 6,746
113 Philippines 1,684 (r) 1,478
114 Thailand 3,306 (r) 3,316
115 Middle Eastern
oil-exporting
countries (18) 19,651 (r) 20,525
116 Other 28,298 27,212
117 Africa 10,622 (r) 10,584
118 Egypt 2,220 (r) 2,267
119 Morocco 116 102
120 South Africa 707 (r) 693
121 Congo
(formerly Zaire) 2 14
122 Oil-exporting
countries (19) 4,740 4,645
123 Other 2,837 2,863
124 Other countries 11,526 (r) 11,220
125 Australia 10,419 (r) 9,855
126 New Zealand (20) 437 862
127 All other 670 503
128 Nonmonetary
international
and regional
organizations 14,669 13,819
129 International (21) 12,965 12,836
130 Latin American
regional (22) 886 418
131 Other
regional (23) 518 523
2001
Item July Aug. (r) Sept. (p)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all
foreigners 1,519,393 (r) 1,508,533 1,489,069
2 Banks' own
liabilities 1,099,081 (r) 1,077,761 1,057,226
3 Demand deposits 29,950 33,670 34,262
4 Time deposits (2) 175,964 175,788 178,677
5 Other (3) 225,276 206,037 196,294
6 Own foreign
offices (4) 667,891 (r) 662,266 647,993
7 Banks' custodial
liabilities (5) 420,312 (r) 430,772 431,843
8 U.S. Treasury
bills and
certificates (6) 160,847 (r) 170,605 173,115
9 Short-term agency
securities (7) 61,471 62,801 62,114
10 Other negotiable
and readily
transferable
instruments (8) 76,503 (r) 76,676 74,698
11 Other 121,491 120,690 121,916
12 Nonmonetary
international
and regional
organiza-
tions (9) 11,255 13,214 13,309
13 Banks' own
liabilities 11,020 12,983 13,075
14 Demand deposits 50 21 36
15 Time
deposits (2) 2,896 2,738 2,299
16 Other (3) 8,074 10,224 10,740
17 Banks' custodial
liabili-
ties (5) 235 231 234
18 U.S. Treasury
bills and
certifi-
cates (6) 78 92 118
19 Short-term
agency
securities (7) 132 117 102
20 Other negotiable
and readily
transferable
instru-
ments (8) 25 21 13
21 Other 0 1 1
22 Official
institu-
tions (10) 295,146 289,471 297,496
23 Banks' own
liabilities 108,991 94,150 101,385
24 Demand deposits 2,169 2,934 3,042
25 Time
deposits (2) 28,121 26,441 31,971
26 Other (3) 78,701 64,775 66,372
27 Banks' custodial
liabili-
ties (5) 186,155 195,321 196,111
28 U.S. Treasury
bills and
certifi-
cates (6) 143,288 151,850 153,899
29 Short-term
agency
securities (7) 39,971 40,727 39,961
30 Other negotiable
and readily
transferable
instru-
ments (8) 2,686 2,558 2,230
31 Other 210 186 21
32 Banks (11) 957,696 (r) 955,544 928,908
33 Banks' own
liabilities 811,173 (r) 809,835 787,206
34 Unaffiliated
foreign banks 143,282 (r) 147,569 139,213
35 Demand
deposits 12,548 14,585 14,928
36 Time
deposits (2) 64,094 65,652 64,816
37 Other (3) 66,640 (r) 67,332 59,469
38 Own foreign
offices (4) 667,891 (r) 662,266 647,993
39 Banks' custodial
liabilities
(5) 146,523 (r) 145,709 141,702
40 U.S. Treasury
bills and
certifi-
cates (6) 9,093 9,582 8,781
41 Short-term
agency
securities (7) 2,535 2,421 2,628
42 Other negotiable
and readily
transferable
instru-
ments (8) 27,097 (r) 27,042 23,889
43 Other 107,798 106,664 106,404
44 Other foreigners 255,296 (r) 250,304 249,356
45 Banks' own
liabilities 167,897 (r) 160,793 155,560
46 Demand deposits 15,183 16,130 16,256
47 Time
deposits (2) 80,853 80,957 79,591
48 Other (3) 71,861 (r) 63,706 59,713
49 Banks' custodial
liabilities (5) 87,399 (r) 89,511 93,796
50 U.S. Treasury
bills and
certificates (6) 8,388 (r) 9,081 10,317
51 Short-term agency
securities (7) 18,833 19,536 19,423
52 Other negotiable
and readily
transferable
instruments (8) 46,695 (r) 47,055 48,566
53 Other 13,483 13,839 15,490
MEMO
54 Negotiable time
certificates of
deposits in
custody for
foreigners 22,640 24,442 23,228
55 Repurchase
agreements (7) 138,328 132,705 111,109
AREA
56 Total, all
foreigners 1,519,393 (r) 1,508,533 1,489,069
57 Foreign countries 1,508,137 (r) 1,495,319 1,475,760
58 Europe 449,630 (r) 431,159 414,092
59 Austria 2,040 2,370 2,398
60 Belgium (12) 7,058 6,624 6,424
61 Denmark 2,596 3,294 3,243
62 Finland 1,574 1,003 1,267
63 France 42,710 39,662 38,264
64 Germany 32,336 (r) 27,764 20,385
65 Greece 2,288 2,607 2,440
66 Italy 5,877 4,761 5,803
67 Luxembourg (12) 14,568 14,411 15,065
68 Netherlands 11,372 11,537 11,145
69 Norway 3,540 (r) 3,961 3,565
70 Portugal 2,662 2,490 2,594
71 Russia 23,966 22,687 22,942
72 Spain 6,974 7,286 8,927
73 Sweden 4,111 3,233 3,760
74 Switzerland 65,942 (r) 53,148 39,576
75 Turkey 6,194 (r) 7,068 6,203
76 United Kingdom 137,207 (r) 138,121 139,218
77 Channel Islands
and Isle of
Man (13) 35,018 35,745 36,072
78 Yugoslavia (14) 395 297 321
79 Other Europe and
other former
U.S.S.R. (15) 41,202 43,090 44,480
80 Canada 26,378 (r) 28,098 26,117
81 Latin America 118,679 (r) 120,852 119,370
82 Argentina 13,297 (r) 11,261 15,140
83 Brazil 14,371 (r) 16,143 16,981
84 Chile 5,443 (r) 5,322 5,740
85 Colombia 4,397 (r) 4,582 4,449
86 Ecuador 2,145 (r) 2,170 2,117
87 Guatemala 1,530 (r) 1,466 1,442
88 Mexico 34,697 (r) 37,943 37,432
89 Panama 3,705 (r) 3,683 3,773
90 Peru 1,599 1,526 1,466
91 Uruguay 2,980 2,993 2,684
92 Venezuela 27,604 (r) 26,969 21,768
93 Other Latin
America (16) 6,911 (r) 6,794 6,378
94 Caribbean 608,489 (r) 613,630 596,511
95 Bahamas 183,844 (r) 184,763 178,257
96 Bermuda 8,230 (r) 7,419 7,533
97 British West
Indies (17) n.a. n.a. n.a.
98 Cayman
Islands (17) 400,626 (r) 406,074 392,938
99 Cuba 88 45 154
100 Jamaica 975 967 958
101 Netherlands
Antilles 3,207 3,270 4,505
102 Trinidad and
Tobago 1,253 1,428 1,410
103 Other
Caribbean (16) 10,266 (r) 9,664 10,756
104 Asia 283,682 (r) 279,112 300,383
China
105 Mainland 15,586 16,023 16,886
106 Taiwan 23,081 22,772 22,247
107 Hong Kong 26,843 23,838 24,587
108 India 4,413 4,076 4,024
109 Indonesia 11,630 11,989 11,928
110 Israel 8,710 7,715 8,818
111 Japan 134,252 (r) 132,305 149,452
112 Korea (South) 7,366 (r) 7,046 7,723
113 Philippines 1,657 (r) 1,791 1,884
114 Thailand 3,381 (r) 3,763 3,347
115 Middle Eastern
oil-exporting
countries (18) 19,190 20,542 20,844
116 Other 27,573 27,252 28,643
117 Africa 12,178 (r) 12,194 11,609
118 Egypt 3,526 (r) 3,647 3,014
119 Morocco 118 165 235
120 South Africa 839 (r) 1,324 810
121 Congo
(formerly Zaire) 5 5 2
122 Oil-exporting
countries (19) 4,349 3,839 4,431
123 Other 3,341 3,214 3,117
124 Other countries 9,101 (r) 10,274 7,678
125 Australia 8,058 (r) 9,290 6,822
126 New Zealand (20) 501 517 437
127 All other 542 467 419
128 Nonmonetary
international
and regional
organizations 11,256 13,214 13,309
129 International (21) 10,241 12,090 12,224
130 Latin American
regional (22) 441 509 569
131 Other
regional (23) 502 558 476
(1.) Reporting banks include all types of depository institutions
as well as some brokers and dealers. Excludes bonds and notes of
maturities longer than one year.
(2.) Excludes negotiable time certificates deposit, which are included
in "Other negotiable and readily transferable instruments."
(3.) Includes borrowing under repurchase agreements.
(4.) For U.S. banks, includes amounts owed to own foreign branches
and foreign subsidiaries consolidated in quarterly Consolidated
Reports of Condition filed with bank regulatory agencies. For
agencies, branches, and majority-owned subsidiaries of foreign banks,
consists principally of amounts owed to the head office or parent
foreign bank, and to foreign branches, agencies, or wholly owned
subsidiaries of the head office or parent foreign bank.
(5.) Financial claims on residents of the United States,
other than long-term securities, held by or through reporting banks
fore foreign customers.
(6.) Includes nonmarketable certificates of indebtedness and
Treasury bills issued to official institutions of foreign countries.
(7.) Data available beginning January 2001.
(8.) Principally bankers acceptances, commercial paper, and
negotiable time certificates of deposit.
(9.) Principally the International Bank for Reconstruction and
Development, the Inter-American Development Bank, and the
Asian Development Bank. Excludes "holdings of dollars"
of the International Monetary Fund.
(10.) Foreign central banks, foreign central governments, and
the Bank for International Settlements.
(11.) Excludes central banks, which are included in
"Official institutions."
(12.) Before January 2001, data for Belgium-Luxembourg
were combined.
(13.) Before January 2001, these data were included in data
reported for the United Kingdom.
(14.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(15.) Includes the Bank for International Settlements and the
European Central Bank. Since December 1992, has included all
parts of the former U.S.S.R. (except Russia), and Bosnia,
Croatia, and Slovenia.
(16.) Before January 2001, data for "Other Latin America" and
"Other Caribbean" were combined in "Other Latin America and Caribbean."
(17.) Beginning January 2001, data for the Cayman Islands replaced
data for the British West Indies.
(18.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
(19.) Comprises Algeria, Gabon, Libya, and Nigeria.
(20.) Before January 2001, these data were included in "All other."
(21.) Principally the International Bank for Reconstruction and
Development. Excludes "holdings of dollars" of the International
Monetary Fund.
(22.) Principally the Inter-American Development Bank.
(23.) Asian, African, Middle Eastern, and European regional
organizations, except the Bank for International Settlements,
which is included in "Other Europe."
3.18 BANKS' OWN CLAIMS ON FOREIGNERS
Reported by Banks in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
2001
Area or country 1998 1999 2000 Mar.
1 Total, all foreigners 734,995 793,139 904,697 (r) 980,742
2 Foreign countries 731,378 788,576 900,011 (r) 977,966
3 Europe 233,321 311,686 378,115 (r) 439,499
4 Austria 1,043 2,643 2,926 3,101
5 Belgium (2) 7,187 10,193 5,399 4,852
6 Denmark 2,383 1,669 3,272 3,242
7 Finland 1,070 2,020 7,382 7,185
8 France 15,251 29,142 40,035 45,555
9 Germany 15,923 29,205 36,834 45,729
10 Greece 575 806 646 278
11 Italy 7,284 8,496 7,629 6,975
12 Luxembourg (2) n.a. n.a. n.a. 2,549
13 Netherlands 5,697 11,810 17,043 22,623
14 Norway 827 1,000 5,012 8,228
15 Portugal 669 1,571 1,382 1,426
16 Russia 789 713 517 1,008
17 Spain 5,735 3,796 2,603 (r) 4,722
18 Sweden 4,223 3,264 9,226 10,286
19 Switzerland 46,874 79,158 82,085 96,489
20 Turkey 1,982 2,617 3,059 2,697
21 United Kingdom 106,349 115,971 144,938 162,563
22 Channel Islands and
Isle of Man (3) n.a. n.a. n.a. 3,250
23 Yugoslavia (4) 53 50 50 49
24 Other Europe and other
former U.S.S.R. (5) 9,407 7,562 8,077 6,692
25 Canada 47,037 37,206 39,858 43,838
26 Latin America 79,976 74,040 76,588 73,717
27 Argentina 9,552 10,894 11,546 11,242
28 Brazil 16,184 16,987 20,567 20,232
29 Chile 8,250 6,607 5,815 5,822
30 Colombia 6,507 4,524 4,370 4,022
31 Ecuador 1,400 760 635 534
32 Guatemala 1,127 1,135 1,244 1,175
33 Mexico 21,212 17,899 17,415 17,747
34 Panama 3,584 3,387 2,933 3,006
35 Peru 3,275 2,529 2,807 2,809
36 Uruguay 1,126 801 673 364
37 Venezuela 3,089 3,494 3,518 3,237
38 Other Latin America
(6) 4,670 5,023 5,065 3,527
39 Caribbean 262,678 281,128 319,410 (r) 325,060
40 Bahamas 96,455 99,066 114,090 105,064
41 Bermuda 5,011 8,007 9,260 (r) 8,122
42 British West Indies
(7) 153,749 167,189 189,296 n.a.
43 Cayman Islands (7) n.a. n.a. n.a. 199,351
44 Cuba 0 0 0 n.a.
45 Jamaica 239 295 355 348
46 Netherlands Antilles 6,779 5,982 5,801 6,921
47 Trinidad and Tobago 445 589 608 710
48 Other Caribbean (6) n.a. n.a. n.a. 4,544
49 Asia 98,607 75,143 77,829 (r) 87,673
China
50 Mainland 1,261 2,110 1,606 1,357
51 Taiwan 1,041 1,390 2,247 1,851
52 Hong Kong 9,080 5,903 6,669 11,069
53 India 1,440 1,738 2,178 1,827
54 Indonesia 1,942 1,776 1,914 2,001
55 Israel 1,166 1,875 2,729 2,339
56 Japan 46,713 28,641 34,974 (r) 39,250
57 Korea (South) 8,289 9,426 7,776 12,264
58 Philippines 1,465 1,410 1,784 1,195
59 Thailand 1,807 1,515 1,381 1,258
60 Middle Eastern
oil-exporting
countries (8) 16,130 14,267 9,346 9,120
61 Other 8,273 5,092 5,225 4,142
62 Africa 3,122 2,268 2,094 2,111
63 Egypt 257 258 201 343
64 Morocco 372 352 204 189
65 South Africa 643 622 309 586
66 Congo (formerly Zaire) 0 24 0 n.a.
67 Oil-exporting
countries (9) 936 276 471 217
68 Other 914 736 909 776
69 Other countries 6,637 7,105 6,117 6,068
70 Australia 6,173 6,824 5,868 5,773
71 New Zealand (10) n.a. n.a. n.a. 166
72 All other 464 281 249 129
73 Nonmonetary interna-
tional and regional
organizations (11) 3,617 4,563 4,686 2,776
2001
Area or country Apr. May June
1 Total, all foreigners 990,151 996,701 990,698 (r)
2 Foreign countries 987,396 992,791 986,000 (r)
3 Europe 443,051 461,025 452,017
4 Austria 3,728 3,364 2,870
5 Belgium (2) 4,375 5,627 4,254
6 Denmark 2,954 2,505 2,268
7 Finland 8,901 8,800 8,460
8 France 46,378 42,189 48,835
9 Germany 49,062 55,063 51,242
10 Greece 265 285 313
11 Italy 7,274 6,867 8,111
12 Luxembourg (2) 2,012 1,876 1,285
13 Netherlands 22,692 16,488 16,993
14 Norway 5,296 2,915 6,502
15 Portugal 1,535 1,173 1,304
16 Russia 813 715 911
17 Spain 3,445 4,275 3,594
18 Sweden 11,934 10,986 11,049
19 Switzerland 104,816 137,273 111,492
20 Turkey 2,770 2,596 2,530
21 United Kingdom 156,161 149,064 161,720
22 Channel Islands and
Isle of Man (3) 3,151 3,838 3,275
23 Yugoslavia (4) 49 59 49
24 Other Europe and other
former U.S.S.R. (5) 5,440 5,067 4,960
25 Canada 45,094 44,583 50,153
26 Latin America 73,829 73,823 73,763 (r)
27 Argentina 11,541 11,731 11,923 (r)
28 Brazil 20,287 20,719 21,538 (r)
29 Chile 5,628 5,443 5,451 (r)
30 Colombia 3,720 3,740 3,641
31 Ecuador 526 482 523
32 Guatemala 1,171 1,226 1,199 (r)
33 Mexico 18,013 17,960 17,385 (r)
34 Panama 3,158 2,872 3,086
35 Peru 2,771 2,534 2,566 (r)
36 Uruguay 367 366 398
37 Venezuela 3,154 3,109 2,982
38 Other Latin America
(6) 3,493 3,641 3,071 (r)
39 Caribbean 333,130 324,710 322,559 (r)
40 Bahamas 112,424 112,802 105,772
41 Bermuda 6,781 5,507 5,802
42 British West Indies
(7) n.a. n.a. n.a.
43 Cayman Islands (7) 200,022 195,790 200,149 (r)
44 Cuba 1 n.a. n.a.
45 Jamaica 336 396 301
46 Netherlands Antilles 9,384 5,738 5,749
47 Trinidad and Tobago 783 804 946
48 Other Caribbean (6) 3,399 3,673 3,840 (r)
49 Asia 83,546 81,217 80,927
China
50 Mainland 3,171 2,252 4,387
51 Taiwan 2,258 1,985 2,524
52 Hong Kong 10,462 9,127 9,249
53 India 1,675 1,648 1,634
54 Indonesia 2,033 2,015 1,932
55 Israel 2,526 2,715 2,417
56 Japan 32,908 34,442 32,338
57 Korea (South) 13,971 11,673 11,258
58 Philippines 1,835 1,788 1,831
59 Thailand 1,062 1,380 1,541
60 Middle Eastern
oil-exporting
countries (8) 7,936 9,926 8,621
61 Other 3,709 2,266 3,195
62 Africa 2,035 1,904 2,132
63 Egypt 308 466 530
64 Morocco 185 185 175
65 South Africa 444 289 528
66 Congo (formerly Zaire) n.a. n.a. n.a.
67 Oil-exporting
countries (9) 267 197 142
68 Other 831 767 757
69 Other countries 6,711 5,529 4,449
70 Australia 6,261 5,215 4,121
71 New Zealand (10) 269 136 279
72 All other 181 178 49
73 Nonmonetary interna-
tional and regional
organizations (11) 2,755 4,535 4,848
2001
Aug. Sept.
Area or country July (r) (p)
1 Total, all foreigners 975,363 (r) 948,839 958,921
2 Foreign countries 970,509 (r) 944,288 954,445
3 Europe 441,780 413,717 406,885
4 Austria 2,714 3,130 3,111
5 Belgium (2) 9,184 4,451 4,780
6 Denmark 1,345 1,570 1,672
7 Finland 8,666 8,350 10,917
8 France 56,997 56,342 51,729
9 Germany 47,378 47,744 37,802
10 Greece 369 278 288
11 Italy 5,466 6,227 6,639
12 Luxembourg (2) 914 1,010 910
13 Netherlands 16,875 16,309 18,358
14 Norway 4,379 3,851 4,835
15 Portugal 1,050 1,232 1,285
16 Russia 589 877 676
17 Spain 3,955 3,431 4,662
18 Sweden 11,507 11,651 12,203
19 Switzerland 96,036 79,942 72,545
20 Turkey 2,499 2,407 2,307
21 United Kingdom 161,232 157,531 163,371
22 Channel Islands and
Isle of Man (3) 3,417 3,162 3,900
23 Yugoslavia (4) 4 4 4
24 Other Europe and other
former U.S.S.R. (5) 7,204 4,218 4,891
25 Canada 43,308 42,847 50,304
26 Latin America 73,432 (r) 76,376 74,377
27 Argentina 12,344 (r) 13,103 12,075
28 Brazil 20,941 (r) 22,152 22,460
29 Chile 5,217 (r) 5,379 5,176
30 Colombia 3,625 3,720 3,603
31 Ecuador 515 505 508
32 Guatemala 1,148 (r) 1,276 1,261
33 Mexico 17,476 (r) 17,582 16,799
34 Panama 3,190 3,199 3,199
35 Peru 2,516 (r) 2,422 2,438
36 Uruguay 410 453 459
37 Venezuela 2,913 3,417 3,203
38 Other Latin America
(6) 3,137 (r) 3,168 3,196
39 Caribbean 317,635 (r) 326,668 335,443
40 Bahamas 100,133 99,046 114,765
41 Bermuda 7,236 6,803 6,976
42 British West Indies
(7) n.a. n.a. n.a.
43 Cayman Islands (7) 198,918 204,760 199,209
44 Cuba n.a. n.a. n.a.
45 Jamaica 326 367 369
46 Netherlands Antilles 5,617 10,228 9,818
47 Trinidad and Tobago 989 1,086 974
48 Other Caribbean (6) 4,416 (r) 4,378 3,332
49 Asia 86,714 77,445 80,688
China
50 Mainland 3,785 2,191 3,462
51 Taiwan 2,906 2,780 3,276
52 Hong Kong 7,488 5,743 6,436
53 India 1,576 1,622 1,576
54 Indonesia 2,011 1,975 1,946
55 Israel 4,483 3,621 3,622
56 Japan 36,953 34,922 32,338
57 Korea (South) 12,803 10,701 11,788
58 Philippines 2,333 1,740 2,151
59 Thailand 1,119 1,440 1,179
60 Middle Eastern
oil-exporting
countries (8) 8,531 8,267 7,915
61 Other 2,726 2,443 4,999
62 Africa 2,038 2,052 1,872
63 Egypt 391 389 397
64 Morocco 173 151 154
65 South Africa 608 661 493
66 Congo (formerly Zaire) n.a. 2 n.a.
67 Oil-exporting
countries (9) 130 128 148
68 Other 736 721 680
69 Other countries 5,602 5,183 4,876
70 Australia 5,143 4,807 3,956
71 New Zealand (10) 360 264 329
72 All other 99 112 591
73 Nonmonetary interna-
tional and regional
organizations (11) 4,854 4,551 4,476
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Before January 2001, combined data reported for
Belgium-Luxembourg.
(3.) Before January 2001, data included in United Kingdom.
(4.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(5.) Includes the Bank for International Settlements and European
Central Bank. Since December 1992, has included all parts of the
former U.S.S.R. (except Russia) and Bosnia, Croatia, and Slovenia.
(6.) Before January 2001, "Other Latin America" and "Other Caribbean"
were reported as combined "Other Latin America and Caribbean."
(7.) Beginning 2001, Cayman Islands replaced British West Indies in
the data series.
(8.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(9.) Comprises Algeria, Gabon, Libya, and Nigeria.
(10.) Before January 2001, included in "All other."
(11.) Excludes the Bank for International Settlements, which is
included in "Other Europe."
3.19 BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Reported by Banks in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
2001
Type of claim 1998 1999 2000 Mar.
1 Total 875,891 944,937 1,095,899 (r) 1,202,490
2 Banks' claims 734,995 793,139 904,697 (r) 980,742
3 Foreign public
borrowers 23,542 35,090 37,907 49,123
4 Own foreign
offices (2) 484,535 529,682 630,137 670,952
5 Unaffilliated
foreign banks 106,206 97,186 95,277 101,718
6 Deposits 27,230 34,538 23,886 19,948
7 Other 78,976 62,648 71,391 81,770
8 All other
foreigners 120,712 131,181 141,376 (r) 158,949
9 Claims of banks'
domestic
customers (3) 140,896 151,798 191,202 221,748
10 Deposits 79,363 88,006 100,327 116,370
11 Negotiable and
readily
transferable
instruments (4) 47,914 51,161 78,147 92,013
12 Outstanding
collections and
other claims 13,619 12,631 12,728 13,365
MEMO
13 Customer liability
on acceptances 4,520 4,553 4,258 2,993
14 Banks' loans under
resale agreements
(5) n.a. n.a. n.a. 134,083
15 Dollar deposits in
banks abroad,
reported by non-
banking business
enterprises in the
United States (6) 39,978 31,125 53,153 67,204
2001
Type of claim Apr. May June
1 Total ... ... 1,185,758 (r)
2 Banks' claims 990,151 996,701 990,698 (r)
3 Foreign public
borrowers 52,357 49,533 52,193
4 Own foreign
offices (2) 683,098 709,119 686,065 (r)
5 Unaffilliated
foreign banks 95,262 79,947 91,413 (r)
6 Deposits 21,533 19,717 22,106
7 Other 73,729 60,230 69,307 (r)
8 All other
foreigners 159,434 158,102 161,027 (r)
9 Claims of banks'
domestic
customers (3) ... ... 195,060
10 Deposits ... ... 97,778
11 Negotiable and
readily
transferable
instruments (4) ... ... 81,034
12 Outstanding
collections and
other claims ... ... 16,248
MEMO
13 Customer liability
on acceptances ... ... 3,054
14 Banks' loans under
resale agreements
(5) 126,871 116,938 129,693
15 Dollar deposits in
banks abroad,
reported by non-
banking business
enterprises in the
United States (6) 60,796 58,137 66,155
2001
July Aug. Sept.
Type of claim (r) (r) (p)
1 Total ... ... ...
2 Banks' claims 975,363 948,839 958,921
3 Foreign public
borrowers 55,762 47,156 45,739
4 Own foreign
offices (2) 660,538 652,434 659,766
5 Unaffilliated
foreign banks 94,632 84,584 91,996
6 Deposits 24,399 15,590 20,037
7 Other 70,233 68,994 71,959
8 All other
foreigners 164,431 164,665 161,420
9 Claims of banks'
domestic
customers (3) ... ... ...
10 Deposits ... ... ...
11 Negotiable and
readily
transferable
instruments (4) ... ... ...
12 Outstanding
collections and
other claims ... ... ...
MEMO
13 Customer liability
on acceptances ... ... ...
14 Banks' loans under
resale agreements
(5) 131,731 117,224 111,844
15 Dollar deposits in
banks abroad,
reported by non-
banking business
enterprises in the
United States (6) 60,152 60,299 ...
(1.) For banks' claims, data are monthly; for claims of banks' domestic
customers, data are for quarter ending with month indicated.
Reporting banks include all types of depository institution as well as
some brokers and dealers.
(2.) For U.S. banks, includes amounts due from own foreign branches and
foreign subsidiaries consolidated in quarterly Consolidated Reports of
Condition filed with bank regulatory agencies. For agencies, branches,
and majority-owned subsidiaries of foreign banks, consists principally
of amounts due from the head office or parent foreign bank, and from
foreign branches, agencies, or wholly owned subsidiaries of the head
office or parent foreign bank.
(3.) Assets held by reporting banks in the accounts of their domestic
customers.
(4.) Principally negotiable time certificates of deposit and bankers
acceptances, and commercial paper.
(5.) Data available beginning January 2001.
(6.) Includes demand and time deposits and negotiable and nonnegotiable
certificates of deposit denominated in U.S. dollars issued by banks
abroad.
3.20 BANKS' OWN CLAIMS ON UNAFFILIATED FOREIGNERS
Reported by Banks in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
2000
Maturity, by borrower
and area (2) 1997 1998 1999 Sept.
1 Total 276,550 250,418 267,082 262,590
By borrower
2 Maturity of one year or less 205,781 186,526 187,894 174,083
3 Foreign public borrowers 12,081 13,671 22,811 23,646
4 All other foreigners 193,700 172,855 165,083 150,437
5 Maturity of more than one
year 70,769 63,892 79,188 88,507
6 Foreign public borrowers 8,499 9,839 12,013 15,818
7 All other foreigners 62,270 54,053 67,175 72,689
By area
Maturity of one year or less
8 Europe 58,294 68,679 80,842 69,291
9 Canada 9,917 10,968 7,859 8,219
10 Latin America and
Caribbean 97,207 81,766 69,498 65,824
11 Asia 33,964 18,007 21,802 23,448
12 Africa 2,211 1,835 1,122 1,594
13 All other (3) 4,188 5,271 6,771 5,707
Maturity of more than one
year
14 Europe 13,240 14,923 22,951 27,432
15 Canada 2,525 3,140 3,192 3,094
16 Latin America and
Caribbean 42,049 33,442 39,051 41,158
17 Asia 10,235 10,018 11,257 13,228
18 Africa 1,236 1,232 1,065 902
19 All other (3) 1,484 1,137 1,672 2,693
2000 2001
Maturity, by borrower
and area (2) Dec. Mar. June
1 Total 274,089 307,616 301,972
By borrower
2 Maturity of one year or less 186,183 195,051 191,706
3 Foreign public borrowers 21,399 23,741 26,656
4 All other foreigners 164,784 171,310 165,050
5 Maturity of more than one
year 87,906 112,565 110,266
6 Foreign public borrowers 15,838 24,951 24,978
7 All other foreigners 72,068 87,614 85,288
By area
Maturity of one year or less
8 Europe 142,465 89,553 80,608
9 Canada 8,323 7,065 8,639
10 Latin America and
Caribbean 151,861 72,272 (r) 72,880
11 Asia 43,429 20,797 24,124
12 Africa 2,263 970 971
13 All other (3) 11,717 4,394 4,484
Maturity of more than one
year
14 Europe 57,770 38,257 39,942
15 Canada 3,174 3,249 3,992
16 Latin America and
Caribbean 82,684 50,110 47,027
17 Asia 19,536 17,180 15,232
18 Africa 1,567 763 774
19 All other (3) 5,954 3,006 3,299
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Maturity is time remaining until maturity.
(3.) Includes nonmonetary international and regional organizations.
3.21 CLAIMS ON FOREIGN COUNTRIES Held by U.S. and Foreign Offices
of U.S. Banks (1)
Billions of dollars, end of period
1999
Area or country 1997 1998 June Sept. Dec.
1 Total 721.8 1051.6 941.2 941.6 945.5
2 G-10 countries and
Switzerland 242.8 217.7 234.7 219.4 243.4
3 Belgium and Luxembourg 11.0 10.7 16.2 15.7 14.3
4 France 15.4 18.4 20.7 20.0 29.0
5 Germany 28.6 30.9 32.1 37.4 38.7
6 Italy 15.5 11.5 16.4 15.0 18.1
7 Netherlands 6.2 7.8 13.3 11.7 12.3
8 Sweden 3.3 2.3 2.6 3.6 3.0
9 Switzerland 7.2 8.5 8.3 8.8 10.3
10 United Kingdom 113.4 85.4 85.5 63.5 79.3
11 Canada 13.7 16.8 17.1 17.9 16.3
12 Japan 28.6 25.4 22.6 25.7 22.1
13 Other industrialized
countries 65.5 69.0 79.7 71.7 68.4
14 Austria 1.5 1.4 2.8 3.0 3.5
15 Denmark 2.4 2.2 2.9 2.1 2.6
16 Finland 1.3 1.4 .9 .9 .9
17 Greece 5.1 5.9 5.9 6.6 6.0
18 Norway 3.6 3.2 3.0 3.8 3.3
19 Portugal .9 1.4 1.2 1.2 1.0
20 Spain 12.6 13.7 16.6 15.1 12.1
21 Turkey 4.5 4.8 4.9 4.7 4.8
22 Other Western Europe 8.3 10.4 10.3 9.2 6.8
23 South Africa 2.2 4.4 4.7 4.0 3.8
24 Australia 23.1 20.3 26.6 21.1 23.5
25 OPEC (2) 26.0 27.1 26.2 30.1 31.4
26 Ecuador 1.3 1.3 1.1 .9 .8
27 Venezuela 2.5 3.2 3.2 3.0 2.8
28 Indonesia 6.7 4.7 5.0 4.4 4.2
29 Middle East countries 14.4 17.0 16.5 21.4 23.1
30 African countries 1.2 1.0 .5 .5 .5
31 Non-OPEC developing
countries 139.2 143.4 148.6 144.6 149.4
Latin America
32 Argentina 18.4 23.1 22.8 22.8 23.2
33 Brazil 28.6 24.7 25.2 23.5 27.7
34 Chile 8.7 8.3 8.2 7.7 7.4
35 Colombia 3.4 3.2 3.1 2.7 2.5
36 Mexico 17.4 18.9 18.5 19.4 18.7
37 Peru 2.0 2.2 2.1 1.8 1.7
38 Other 4.1 5.4 5.5 5.5 5.9
Asia
China
39 Mainland 3.2 3.0 5.3 3.3 3.6
40 Taiwan 9.5 13.3 12.6 12.3 12.0
41 India 4.9 5.5 6.7 7.0 7.7
42 Israel .7 1.1 2.0 1.0 1.8
43 Korea (South) 15.6 13.7 15.3 16.0 15.2
44 Malaysia 5.1 5.6 6.0 6.1 6.1
45 Philippines 5.7 5.1 5.7 5.8 6.2
46 Thailand 5.4 4.7 4.2 4.0 4.1
47 Other Asia 4.3 2.9 2.8 2.9 2.9
Africa
48 Egypt .9 1.3 1.4 1.3 1.4
49 Morocco .6 .5 .5 .5 .4
50 Zaire .0 .0 .0 .0 .0
51 Other Africa (3) .8 1.0 1.0 1.0 1.0
52 Eastern Europe 9.1 5.5 5.7 5.4 5.2
53 Russia (4) 5.1 2.2 2.1 2.0 1.6
54 Other 4.0 3.3 3.7 3.4 3.6
55 Offshore banking centers 155.1 134.4 107.5 122.5 114.5
56 Bahamas 24.2 35.4 10.4 18.2 13.7
57 Bermuda 9.8 4.6 5.7 8.2 8.0
58 Cayman Islands and other
British West Indies 43.4 12.8 7.2 6.3 1.3
59 Netherlands Antilles 14.6 2.6 1.3 9.1 1.7
60 Panama (5) 3.1 3.9 3.9 3.9 3.9
61 Lebanon .1 .1 .1 .2 .1
62 Hong Kong, China 32.2 23.3 22.0 22.4 21.0
63 Singapore 12.7 11.1 15.2 10.6 10.1
64 Other (6) .1 .2 .1 .2 .1
65 Miscellaneous and
unallocated (7) 99.1 495.1 380.2 391.2 387.9
2000
Area or country Mar. June Sept.
1 Total 955.0 (r) 991.0 (r) 954.4
2 G-10 countries and
Switzerland 272.4 (r) 313.6 280.3
3 Belgium and Luxembourg 14.2 13.9 13.0
4 France 27.1 (r) 32.6 29.0
5 Germany 37.3 31.5 37.6
6 Italy 19.9 20.5 18.6
7 Netherlands 17.0 16.0 17.5
8 Sweden 3.9 3.5 4.3
9 Switzerland 10.1 13.8 10.9
10 United Kingdom 101.9 138.2 112.8
11 Canada 17.3 18.2 18.5
12 Japan 23.5 25.4 18.1
13 Other industrialized
countries 62.7 (r) 75.3 73.7
14 Austria 2.6 2.8 3.5
15 Denmark 1.5 1.2 1.8
16 Finland .8 1.2 2.8
17 Greece 5.7 6.7 6.4
18 Norway 3.0 4.6 8.5
19 Portugal 1.0 2.0 1.5
20 Spain 11.3 12.2 10.5
21 Turkey 5.1 5.6 5.6
22 Other Western Europe 8.4 7.9 8.3
23 South Africa 4.8 (r) 4.6 4.2
24 Australia 18.6 26.3 20.5
25 OPEC (2) 28.9 32.1 31.4
26 Ecuador .7 .7 .6
27 Venezuela 3.0 2.9 2.9
28 Indonesia 3.9 4.1 4.4
29 Middle East countries 21.1 23.8 22.4
30 African countries .2 .7 1.2
31 Non-OPEC developing
countries 154.6 158.1 149.5
Latin America
32 Argentina 22.4 21.6 21.4
33 Brazil 28.1 28.3 28.5
34 Chile 8.2 8.1 7.3
35 Colombia 2.5 2.4 2.4
36 Mexico 18.3 20.4 17.5
37 Peru 1.9 2.1 2.1
38 Other 6.5 6.7 6.2
Asia
China
39 Mainland 4.6 3.8 3.4
40 Taiwan 12.6 12.6 12.8
41 India 7.9 8.2 5.8
42 Israel 3.3 1.5 1.1
43 Korea (South) 17.7 (r) 21.7 (r) 21.4 (r)
44 Malaysia 6.5 6.8 6.9
45 Philippines 5.3 5.3 4.7
46 Thailand 4.3 4.0 3.9
47 Other Asia 2.0 (r) 1.9 (r) 1.7 (r)
Africa
48 Egypt 1.4 1.3 1.1
49 Morocco .3 .3 .4
50 Zaire .0 .0 .0
51 Other Africa (3) .9 .9 .8
52 Eastern Europe 6.3 9.4 9.0
53 Russia (4) 1.7 1.5 1.4
54 Other 4.7 7.9 7.6
55 Offshore banking centers 53.9 55.5 53.5
56 Bahamas 14.4 8.8 9.3
57 Bermuda 7.3 6.3 6.3
58 Cayman Islands and other
British West Indies .0 5.1 5.9
59 Netherlands Antilles 2.5 2.6 1.9
60 Panama (5) 3.4 3.3 2.5
61 Lebanon .1 .1 .1
62 Hong Kong, China 22.2 20.7 20.6
63 Singapore 4.1 13.6 (r) 12.6
64 Other (6) .1 .1 .1
65 Miscellaneous and
unallocated (7) 376.1 342.1 351.1
2000 2001
Area or country Dec. Mar. June
1 Total 1027.3 1140.9 1136.1
2 G-10 countries and
Switzerland 300.7 333.0 335.0
3 Belgium and Luxembourg 14.2 15.3 13.0
4 France 29.6 30.0 35.9
5 Germany 45.1 45.2 51.6
6 Italy 21.3 20.4 23.7
7 Netherlands 18.4 18.8 15.3
8 Sweden 3.6 4.7 4.7
9 Switzerland 13.2 13.9 13.5
10 United Kingdom 115.6 141.3 127.5
11 Canada 16.7 15.4 21.4
12 Japan 23.0 28.0 28.3
13 Other industrialized
countries 74.5 75.7 70.1
14 Austria 4.1 3.8 3.6
15 Denmark 1.9 3.1 2.7
16 Finland 1.5 1.4 1.2
17 Greece 8.3 4.1 3.6
18 Norway 8.3 10.2 7.9
19 Portugal 2.0 1.9 1.4
20 Spain 10.3 12.6 12.4
21 Turkey 5.9 5.1 4.5
22 Other Western Europe 6.5 7.3 6.9
23 South Africa 3.6 4.1 3.8
24 Australia 22.1 21.9 22.1
25 OPEC (2) 28.9 28.2 27.0
26 Ecuador .6 .6 .6
27 Venezuela 2.5 2.7 2.6
28 Indonesia 4.6 4.4 4.1
29 Middle East countries 20.3 20.1 19.3
30 African countries .8 .5 .4
31 Non-OPEC developing
countries 145.5 144.4 152.6
Latin America
32 Argentina 21.4 20.8 19.7
33 Brazil 28.8 29.3 30.8
34 Chile 7.6 7.3 7.0
35 Colombia 2.4 2.4 2.4
36 Mexico 15.7 16.7 16.3
37 Peru 2.0 2.0 2.0
38 Other 6.3 8.5 8.2
Asia
China
39 Mainland 2.9 3.4 6.8
40 Taiwan 10.8 11.1 10.7
41 India 9.1 6.5 11.8
42 Israel 2.7 2.2 2.0
43 Korea (South) 15.5 (r) 19.8 (r) 19.2
44 Malaysia 7.1 6.5 6.7
45 Philippines 5.1 5.2 5.4
46 Thailand 4.0 4.2 4.2
47 Other Asia 1.9 (r) 1.7 (r) 1.8
Africa
48 Egypt 1.1 1.2 1.2
49 Morocco .3 .3 .3
50 Zaire .0 .0 .0
51 Other Africa (3) .7 .7 .7
52 Eastern Europe 10.1 9.5 9.5
53 Russia (4) 1.0 1.5 1.5
54 Other 9.1 8.0 8.0
55 Offshore banking centers 61.7 57.9 46.2
56 Bahamas 13.5 7.0 .0
57 Bermuda 9.0 7.9 5.7
58 Cayman Islands and other
British West Indies 14.6 14.3 12.6
59 Netherlands Antilles 1.9 2.9 1.7
60 Panama (5) 3.2 3.8 3.4
61 Lebanon .1 .1 .1
62 Hong Kong, China 18.7 21.7 22.4
63 Singapore 15.2 14.5 12.9
64 Other (6) .2 .1 .1
65 Miscellaneous and
unallocated (7) 391.2 472.4 478.4
(1.) The banking offices covered by these data include U.S. offices and
foreign branches of U.S. banks, including U.S. banks that are
subsidiaries of foreign banks. Offices not covered include U.S.
agencies and branches of foreign banks. Beginning March 1994, the
data include large foreign subsidiaries of U.S. banks. The data
also include other types of U.S. depository institutions as well
as some types of brokers and dealers. To eliminate duplication, the
data are adjusted to exclude the claims on foreign branches held by
a U.S. office or another foreign branch of the same banking institution.
These data are on a gross claims basis and do not necessarily reflect
the ultimate country risk or exposure of U.S. banks. More complete
data on the country risk exposure of U.S. banks are available in the
quarterly Country Exposure Lending Survey published by the Federal
Financial Institutions Examination Council.
(2.) Organization of Petroleum Exporting Countries, shown individually;
other members of OPEC (Algeria, Gabon, Iran, Iraq, Kuwait, Libya,
Nigeria, Qatar, Saudi Arabia, and United Arab Emirates), and Bahrain
and Oman (not formally members of OPEC).
(3.) Excludes Liberia. Beginning March 1994 includes Namibia.
(4.) As of December 1992, excludes other republics of the former
Soviet Union.
(5.) Includes Canal Zone.
(6.) Foreign branch claims only.
(7.) Includes New Zealand, Liberia, and international and regional
organizations.
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
2000
Type of liability, and
area or country 1997 1998 1999 Mar. June
1 Total 57,382 46,570 53,044 53,489 70,534
2 Payable in dollars 41,543 36,668 37,605 35,614 47,864
3 Payable in foreign
currencies 15,839 9,902 15,415 17,875 22,670
By type
4 Financial liabilities 26,877 19,255 27,980 29,180 44,068
5 Payable in dollars 12,630 10,371 13,883 12,858 22,803
6 Payable in foreign
currencies 14,247 8,884 14,097 16,322 21,265
7 Commercial liabilities 30,505 27,315 25,064 24,309 26,466
8 Trade payables 10,904 10,978 12,857 12,401 13,764
9 Advance receipts and
other liabilities 19,601 16,337 12,207 11,908 12,702
10 Payable in dollars 28,913 26,297 23,722 22,756 25,061
11 Payable in foreign
currencies 1,592 1,018 1,318 1,553 1,405
By area or country
Financial liabilities
12 Europe 18,027 12,589 23,241 24,050 30,332
13 Belgium and
Luxembourg 186 79 31 4 163
14 France 1,425 1,097 1,659 1,849 1,702
15 Germany 1,958 2,063 1,974 1,880 1,671
16 Netherlands 494 1,406 1,996 1,970 2,035
17 Switzerland 561 155 147 97 137
18 United Kingdom 11,667 5,980 16,521 16,579 21,463
19 Canada 2,374 693 284 313 714
20 Latin America and
Caribbean 1,386 1,495 892 846 2,874
21 Bahamas 141 7 1 1 78
22 Bermuda 229 101 5 1 1,016
23 Brazil 143 152 126 128 146
24 British West
Indies 604 957 492 489 463
25 Mexico 26 59 25 22 26
26 Venezuela 1 2 0 0 0
27 Asia 4,387 3,785 3,437 3,275 9,453
28 Japan 4,102 3,612 3,142 2,985 6,024
29 Middle Eastern
oil-exporting
countries (1) 27 0 4 4 5
30 Africa 60 28 28 28 33
31 Oil-exporting
countries (2) 0 0 0 0 0
32 All other (3) 643 665 98 668 662
Commercial liabilities
33 Europe 10,228 10,030 9,262 8,646 9,293
34 Belgium and
Luxembourg 666 278 140 78 178
35 France 764 920 672 539 711
36 Germany 1,274 1,392 1,131 914 948
37 Netherlands 439 429 507 648 562
38 Switzerland 375 499 626 536 565
39 United Kingdom 4,086 3,697 3,071 2,661 2,982
40 Canada 1,175 1,390 1,775 2,024 2,053
41 Latin America and
Caribbean 2,176 1,618 2,310 2,286 2,607
42 Bahamas 16 14 22 9 10
43 Bermuda 203 198 152 287 300
44 Brazil 220 152 145 115 119
45 British West
Indies 12 10 48 23 22
46 Mexico 565 347 887 805 1,073
47 Venezuela 261 202 305 193 239
48 Asia 14,966 12,342 9,886 9,681 10,965
49 Japan 4,500 3,827 2,609 2,274 2,200
50 Middle Eastern
oil-exporting
countries (1) 3,111 2,852 2,551 2,308 3,489
51 Africa 874 794 950 943 950
52 Oil-exporting
countries (2) 408 393 499 536 575
53 Other (3) 1,086 1,141 881 729 598
2000 2001
Type of liability, and
area or country Sept. Dec. Mar. June
1 Total 76,644 73,904 74,484 68,519
2 Payable in dollars 51,451 48,931 46,870 42,225
3 Payable in foreign
currencies 25,193 24,973 27,614 26,294
By type
4 Financial liabilities 49,895 47,419 48,461 42,314
5 Payable in dollars 26,159 25,246 23,369 18,061
6 Payable in foreign
currencies 23,736 22,173 25,092 24,253
7 Commercial liabilities 26,749 26,485 26,023 26,205
8 Trade payables 13,918 14,293 12,657 13,213
9 Advance receipts and
other liabilities 12,831 12,192 13,366 12,992
10 Payable in dollars 25,292 23,685 23,501 24,164
11 Payable in foreign
currencies 1,457 2,800 2,522 2,041
By area or country
Financial liabilities
12 Europe 36,175 34,172 37,990 33,173
13 Belgium and
Luxembourg 169 147 112 98
14 France 1,299 1,480 1,557 1,222
15 Germany 2,132 2,168 2,745 2,463
16 Netherlands 2,040 2,016 2,169 1,763
17 Switzerland 178 104 116 93
18 United Kingdom 28,601 26,362 29,241 25,751
19 Canada 249 411 719 628
20 Latin America and
Caribbean 3,447 4,125 3,651 2,118
21 Bahamas 105 6 18 40
22 Bermuda 1,182 1,739 1,837 461
23 Brazil 132 148 26 21
24 British West
Indies 501 406 410 408
25 Mexico 35 26 32 20
26 Venezuela 0 2 1 1
27 Asia 9,320 7,965 5,389 5,639
28 Japan 4,782 6,216 4,779 3,297
29 Middle Eastern
oil-exporting
countries (1) 7 11 15 8
30 Africa 48 52 38 61
31 Oil-exporting
countries (2) 0 0 0 0
32 All other (3) 656 694 674 695
Commercial liabilities
33 Europe 9,411 9,629 8,950 8,723
34 Belgium and
Luxembourg 201 293 251 297
35 France 716 979 689 665
36 Germany 1,023 1,047 982 1,017
37 Netherlands 424 300 373 343
38 Switzerland 647 502 656 697
39 United Kingdom 2,951 2,847 2,619 2,706
40 Canada 1,889 1,933 1,627 2,043
41 Latin America and
Caribbean 2,443 2,381 2,166 2,292
42 Bahamas 15 31 5 31
43 Bermuda 377 281 280 367
44 Brazil 167 114 239 279
45 British West
Indies 19 76 64 21
46 Mexico 1,079 841 792 762
47 Venezuela 124 284 243 218
48 Asia 11,133 10,983 11,558 11,384
49 Japan 1,998 2,757 2,432 2,377
50 Middle Eastern
oil-exporting
countries (1) 3,706 2,832 3,359 3,087
51 Africa 1,220 948 1,072 1,115
52 Oil-exporting
countries (2) 663 483 566 539
53 Other (3) 653 614 650 648
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.23 CLAIMS ON UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
Type of claim, and area or
country 1997 1998 1999
1 Total 68,128 77,462 76,669
2 Payable in dollars 62,173 72,171 69,170
3 Payable in foreign currencies 5,955 5,291 7,472
By type
4 Financial claims 36,959 46,260 40,231
5 Deposits 22,909 30,199 18,566
6 Payable in dollars 21,060 28,549 16,373
7 Payable in foreign
currencies 1,849 1,650 2,193
8 Other financial claims 14,050 16,061 21,665
9 Payable in dollars 11,806 14,049 18,593
10 Payable in foreign
currencies 2,244 2,012 3,072
11 Commercial claims 31,169 31,202 36,438
12 Trade receivables 27,536 27,202 32,629
13 Advance payments and other
claims 3,633 4,000 3,809
14 Payable in dollars 29,307 29,573 34,204
15 Payable in foreign currencies 1,862 1,629 2,207
By area or country
Financial claims
16 Europe 14,999 12,294 13,023
17 Belgium and Luxembourg 406 661 529
18 France 1,015 864 967
19 Germany 427 304 504
20 Netherlands 677 875 1,229
21 Switzerland 434 414 643
22 United Kingdom 10,337 7,766 7,561
23 Canada 3,313 2,503 2,553
24 Latin America and Caribbean 15,543 27,714 18,206
25 Bahamas 2,308 403 1,593
26 Bermuda 108 39 11
27 Brazil 1,313 835 1,476
28 British West Indies 10,462 24,388 12,099
29 Mexico 537 1,245 1,798
30 Venezuela 36 55 48
31 Asia 2,133 3,027 5,457
32 Japan 823 1,194 3,262
33 Middle Eastern oil-
exporting countries (1) 11 9 23
34 Africa 319 159 286
35 Oil-exporting countries (2) 15 16 15
36 All other (3) 652 563 706
Commercial claims
37 Europe 12,120 13,246 16,389
38 Belgium and Luxembourg 328 238 316
39 France 1,796 2,171 2,236
40 Germany 1,614 1,822 1,960
41 Netherlands 597 467 1,429
42 Switzerland 554 483 610
43 United Kingdom 3,660 4,769 5,827
44 Canada 2,660 2,617 2,757
45 Latin America and Caribbean 5,750 6,296 5,959
46 Bahamas 27 24 20
47 Bermuda 244 536 390
48 Brazil 1,162 1,024 905
49 British West Indies 109 104 181
50 Mexico 1,392 1,545 1,678
51 Venezuela 576 401 439
52 Asia 8,713 7,192 9,165
53 Japan 1,976 1,681 2,074
54 Middle Eastern oil-
exporting countries (1) 1,107 1,135 1,625
55 Africa 680 711 631
56 Oil-exporting countries (2) 119 165 171
57 Other (3) 1,246 1,140 1,537
2000
Type of claim, and area or
country Mar. June Sept.
1 Total 84,266 80,731 94,803
2 Payable in dollars 74,331 72,300 82,872
3 Payable in foreign currencies 9,935 8,431 11,931
By type
4 Financial claims 47,798 44,303 58,303
5 Deposits 23,316 17,462 30,928
6 Payable in dollars 21,442 15,361 27,974
7 Payable in foreign
currencies 1,874 2,101 2,954
8 Other financial claims 24,482 26,841 27,375
9 Payable in dollars 19,659 22,384 20,541
10 Payable in foreign
currencies 4,823 4,457 6,834
11 Commercial claims 36,468 36,428 36,500
12 Trade receivables 31,443 31,283 31,530
13 Advance payments and other
claims 5,025 5,145 4,970
14 Payable in dollars 33,230 34,555 34,357
15 Payable in foreign currencies 3,238 1,873 2,143
By area or country
Financial claims
16 Europe 16,789 18,254 23,706
17 Belgium and Luxembourg 540 317 304
18 France 1,835 1,292 1,477
19 Germany 669 576 696
20 Netherlands 1,981 1,984 2,486
21 Switzerland 612 624 626
22 United Kingdom 9,044 11,668 16,191
23 Canada 3,175 5,799 7,517
24 Latin America and Caribbean 21,945 14,874 21,691
25 Bahamas 1,299 655 1,358
26 Bermuda 11 34 22
27 Brazil 1,646 1,666 1,568
28 British West Indies 15,814 7,751 15,722
29 Mexico 1,979 2,048 2,280
30 Venezuela 65 78 101
31 Asia 4,430 3,923 4,002
32 Japan 2,021 1,410 1,726
33 Middle Eastern oil-
exporting countries (1) 29 42 85
34 Africa 232 320 284
35 Oil-exporting countries (2) 15 39 3
36 All other (3) 1,227 1,133 1,103
Commercial claims
37 Europe 16,118 15,935 16,486
38 Belgium and Luxembourg 271 425 393
39 France 2,520 2,693 2,921
40 Germany 2,034 1,905 2,159
41 Netherlands 1,337 1,242 1,310
42 Switzerland 611 562 684
43 United Kingdom 5,354 4,937 5,193
44 Canada 3,088 3,250 2,953
45 Latin America and Caribbean 5,899 5,792 5,788
46 Bahamas 15 48 75
47 Bermuda 404 381 387
48 Brazil 849 894 981
49 British West Indies 95 51 55
50 Mexico 1,529 1,565 1,612
51 Venezuela 435 466 379
52 Asia 9,101 9,172 8,986
53 Japan 2,082 1,881 2,074
54 Middle Eastern oil-
exporting countries (1) 1,533 1,241 1,199
55 Africa 716 766 895
56 Oil-exporting countries (2) 82 160 392
57 Other (3) 1,546 1,513 1,392
2000 2001
Type of claim, and area or
country Dec. Mar. June
1 Total 90,157 109,443 98,038
2 Payable in dollars 79,558 96,230 88,258
3 Payable in foreign currencies 10,599 13,213 9,780
By type
4 Financial claims 53,031 74,458 61,921
5 Deposits 23,374 29,119 29,587
6 Payable in dollars 21,015 26,944 27,380
7 Payable in foreign
currencies 2,359 2,175 2,207
8 Other financial claims 29,657 45,339 32,334
9 Payable in dollars 25,142 37,480 27,862
10 Payable in foreign
currencies 4,515 7,859 4,472
11 Commercial claims 37,126 34,985 36,117
12 Trade receivables 33,104 30,493 31,169
13 Advance payments and other
claims 4,022 4,492 4,948
14 Payable in dollars 33,401 31,806 33,016
15 Payable in foreign currencies 3,725 3,179 3,101
By area or country
Financial claims
16 Europe 23,136 31,946 23,975
17 Belgium and Luxembourg 296 430 262
18 France 1,206 3,149 1,376
19 Germany 848 1,405 1,163
20 Netherlands 1,396 2,313 1,072
21 Switzerland 699 605 653
22 United Kingdom 15,900 21,070 15,913
23 Canada 4,576 4,854 4,787
24 Latin America and Caribbean 19,317 28,674 24,433
25 Bahamas 1,353 561 818
26 Bermuda 19 1,729 426
27 Brazil 1,827 1,564 1,877
28 British West Indies 12,596 16,366 12,539
29 Mexico 2,448 2,459 2,633
30 Venezuela 87 31 66
31 Asia 4,697 7,444 6,829
32 Japan 1,631 4,065 1,698
33 Middle Eastern oil-
exporting countries (1) 80 70 76
34 Africa 411 423 476
35 Oil-exporting countries (2) 57 42 35
36 All other (3) 894 1,117 1,421
Commercial claims
37 Europe 15,938 14,534 14,586
38 Belgium and Luxembourg 452 395 417
39 France 3,095 3,480 3,173
40 Germany 1,982 1,763 2,002
41 Netherlands 1,729 757 854
42 Switzerland 763 666 472
43 United Kingdom 4,502 4,031 3,840
44 Canada 3,502 3,393 3,500
45 Latin America and Caribbean 5,851 5,306 6,119
46 Bahamas 37 20 39
47 Bermuda 376 418 650
48 Brazil 957 1,057 1,376
49 British West Indies 137 131 135
50 Mexico 1,507 1,418 1,420
51 Venezuela 328 292 321
52 Asia 9,630 9,544 9,727
53 Japan 2,796 2,575 3,152
54 Middle Eastern oil-
exporting countries (1) 1,024 966 1,054
55 Africa 672 773 674
56 Oil-exporting countries (2) 180 165 154
57 Other (3) 1,572 1,435 1,511
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2001 2001
Transaction, and area Jan.-
or country 1999 2000 Sept. Mar.
U.S. corporate securities
STOCKS
1 Foreign purchases 2,340,659 3,605,196 2,280,483 284,292
2 Foreign sales 2,233,137 3,430,306 2,196,133 276,864
3 Net purchases, or
sales (-) 107,522 174,890 84,350 7,428
4 Foreign countries 107,578 174,903 84,198 7,302
5 Europe 98,060 164,656 67,129 7,983
6 France 3,813 5,727 6,376 1,041
7 Germany 13,410 31,752 6,239 174
8 Netherlands 8,083 4,915 7,974 790
9 Switzerland 5,650 11,960 1,911 1,237
10 United Kingdom 42,902 58,736 29,978 3,280
11 Channel Islands and
Isle of Man (1) n.a. n.a. -491 -110
12 Canada -335 5,956 8,561 2,464
13 Latin America and
Caribbean 5,187 -17,812 -9,437 -3,516
14 Middle East (2) -1,066 9,189 2,166 442
15 Other Asia 4,445 12,494 16,753 57
16 Japan 5,723 2,070 5,154 -115
17 Africa 372 415 -316 93
18 Other countries 915 5 -658 -221
19 Nonmonetary interna-
tional and regional
organizations -56 -11 152 126
BONDS (3)
20 Foreign purchases 854,692 1,208,386 1,385,558 169,850
21 Foreign sales 602,100 871,416 1,092,723 123,603
22 Net purchases, or
sales (-) 252,592 336,970 292,835 46,247
23 Foreign countries 252,994 337,074 292,372 46,029
24 Europe 140,674 180,917 156,336 26,457
25 France 1,870 2,216 3,827 1,262
26 Germany 7,723 4,067 8,707 911
27 Netherlands 2,446 1,130 2,227 92
28 Switzerland 4,553 3,973 4,937 1,564
29 United Kingdom 106,344 141,223 124,140 20,347
30 Channel Islands and
Isle of Man (1) n.a. n.a. 1,172 115
31 Canada 6,043 13,287 2,345 309
32 Latin America and
Caribbean 58,783 59,444 61,343 6,564
33 Middle East (1) 1,979 2,076 1,144 624
34 Other Asia 42,817 78,794 71,455 11,795
35 Japan 17,541 39,356 18,562 5,596
36 Africa 1,411 938 463 38
37 Other countries 1,287 1,618 -714 242
38 Nonmonetary interna-
tional and regional
organizations -402 -70 464 218
Foreign securities
39 Stocks, net purchases,
or sales (-) 15,640 -13,088 -43,348 -15,264
40 Foreign purchases 1,177,303 1,802,185 1,102,985 133,205
41 Foreign sales 1,161,663 1,815,273 1,146,333 148,469
42 Bonds, net purchases,
or sales (-) -5,676 -4,054 32,177 -1,290
43 Foreign purchases 798,267 958,932 898,260 115,676
44 Foreign sales 803,943 962,986 866,083 116,966
45 Net purchases, or
sales (-), of
stocks and bonds 9,964 -17,142 -11,171 -16,554
46 Foreign countries 9,679 -17,278 -10,851 -16,249
47 Europe 59,247 -25,386 -5,498 -13,687
48 Canada -999 -3,888 2,800 844
49 Latin America and
Caribbean -4,726 -15,688 2,526 17
50 Asia -42,961 24,488 -8,549 -3,511
51 Japan -43,637 20,970 -12,913 -4,067
52 Africa 710 943 -316 24
53 Other countries -1,592 2,253 -1,814 64
54 Nonmonetary interna-
tional and regional
organizations 285 150 -319 -305
2001
Transaction, and area
or country Apr. May June
U.S. corporate securities
STOCKS
1 Foreign purchases 249,747 276,934 259,635
2 Foreign sales 243,122 259,604 249,196
3 Net purchases, or
sales (-) 6,625 17,330 10,439
4 Foreign countries 6,647 17,315 10,418
5 Europe 3,694 9,805 9,307
6 France 105 338 3,044
7 Germany 199 1,025 133
8 Netherlands 1,112 573 334
9 Switzerland 139 448 298
10 United Kingdom 598 4,501 4,006
11 Channel Islands and
Isle of Man (1) -144 59 -168
12 Canada 1,567 628 130
13 Latin America and
Caribbean -1,168 3,436 -1,038
14 Middle East (2) -56 -173 234
15 Other Asia 2,966 3,532 1,724
16 Japan 2,048 1,088 1,000
17 Africa -44 9 -82
18 Other countries -312 78 143
19 Nonmonetary interna-
tional and regional
organizations -22 15 21
BONDS (3)
20 Foreign purchases 148,930 169,528 158,157
21 Foreign sales 111,505 129,146 125,693
22 Net purchases, or
sales (-) 37,425 40,382 32,464
23 Foreign countries 37,399 40,370 32,445
24 Europe 18,169 26,116 14,740
25 France 519 817 618
26 Germany 1,639 1,500 114
27 Netherlands -41 509 576
28 Switzerland 709 399 294
29 United Kingdom 12,477 21,489 12,575
30 Channel Islands and
Isle of Man (1) 318 -218 330
31 Canada 1,158 240 822
32 Latin America and
Caribbean 7,546 9,167 7,387
33 Middle East (1) 129 -395 -24
34 Other Asia 10,329 5,412 9,646
35 Japan 344 -480 5,187
36 Africa -33 14 160
37 Other countries 101 -184 -286
38 Nonmonetary interna-
tional and regional
organizations 26 12 19
Foreign securities
39 Stocks, net purchases,
or sales (-) -4,675 -8,098 -5,292
40 Foreign purchases 121,345 136,046 122,243
41 Foreign sales 126,020 144,144 127,535
42 Bonds, net purchases,
or sales (-) 5,487 2,267 1,048
43 Foreign purchases 93,828 101,383 101,950
44 Foreign sales 88,341 99,116 100,902
45 Net purchases, or
sales (-), of
stocks and bonds 812 -5,831 -4,244
46 Foreign countries 824 -5,976 -4,241
47 Europe 3,616 -4,803 3,392
48 Canada -1,535 931 405
49 Latin America and
Caribbean 1,295 3,047 -6,662
50 Asia -1,928 -4,379 -485
51 Japan -3,494 -3,670 -44
52 Africa 93 -132 -47
53 Other countries -717 -640 -844
54 Nonmonetary interna-
tional and regional
organizations -12 145 -3
2001
Transaction, and area
or country July Aug. (r) Sept. (p)
U.S. corporate securities
STOCKS
1 Foreign purchases 244,897 229,427 176,689
2 Foreign sales 233,422 222,027 186,258
3 Net purchases, or
sales (-) 11,475 7,400 -9,569
4 Foreign countries 11,460 7,401 -9,558
5 Europe 6,704 9,048 -5,454
6 France 35 434 -733
7 Germany 1,048 485 -422
8 Netherlands 654 568 358
9 Switzerland -128 -140 -688
10 United Kingdom 3,750 6,236 -577
11 Channel Islands and
Isle of Man (1) -42 32 -73
12 Canada 948 -247 1,113
13 Latin America and
Caribbean 65 -3,063 -4,671
14 Middle East (2) 513 830 668
15 Other Asia 3,220 613 -881
16 Japan 1,956 51 -806
17 Africa -20 72 -34
18 Other countries 30 148 -299
19 Nonmonetary interna-
tional and regional
organizations 15 -1 -11
BONDS (3)
20 Foreign purchases 138,841 157,642 156,739
21 Foreign sales 111,998 132,934 137,984
22 Net purchases, or
sales (-) 26,843 24,708 18,755
23 Foreign countries 26,951 24,510 18,600
24 Europe 11,904 9,631 9,806
25 France 1,154 -1,035 -573
26 Germany -185 472 454
27 Netherlands -210 -297 438
28 Switzerland 291 628 -51
29 United Kingdom 9,507 8,766 9,835
30 Channel Islands and
Isle of Man (1) 203 106 93
31 Canada 485 -1,431 -645
32 Latin America and
Caribbean 6,222 8,961 2,518
33 Middle East (1) -345 -22 8
34 Other Asia 8,815 7,569 7,281
35 Japan 3,452 1,641 1,066
36 Africa 79 136 -6
37 Other countries -209 -334 -362
38 Nonmonetary interna-
tional and regional
organizations -108 198 155
Foreign securities
39 Stocks, net purchases,
or sales (-) -5,031 -2,390 4,695
40 Foreign purchases 115,956 95,885 100,870
41 Foreign sales 120,987 98,275 96,175
42 Bonds, net purchases,
or sales (-) 5,629 9,404 10,319
43 Foreign purchases 91,585 87,584 87,076
44 Foreign sales 85,956 78,180 76,757
45 Net purchases, or
sales (-), of
stocks and bonds 598 7,014 15,014
46 Foreign countries 630 6,874 15,016
47 Europe 1,026 6,119 6,049
48 Canada 299 -1,976 1,478
49 Latin America and
Caribbean -444 759 2,931
50 Asia 69 1,601 4,387
51 Japan 118 596 1,477
52 Africa -111 -24 -34
53 Other countries -209 395 205
54 Nonmonetary interna-
tional and regional
organizations -32 140 -2
(1.) Before January 2001, data included in United Kingdom.
(2.) Comprises oil-exporting countries as follows: Bahrain, Iran,
Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates
(Trucial States).
(3.) Includes state and local government securities and securities
of U.S. government agencies and corporations. Also includes issues
of new debt securities sold abroad by U.S. corporations organized
to finance direct investments abroad.
3.25 MARKETABLE U.S. TREASURY BONDS AND NOTES Foreign
Transactions (1)
Millions of dollars; net purchases, or sales (-) during period
2001 2001
Jan.-
Area or country 1999 2000 Sept. Mar.
1 Total estimated -9,953 -54,032 -19,632 4,897
2 Foreign countries -10,518 -53,571 -19,121 4,899
3 Europe -38,228 -50,704 -17,198 5,363
4 Belgium (2) -81 73 -645 -152
5 Germany 2,285 -7,304 -2,405 1,236
6 Luxembourg (2) n.a. n.a. 216 -401
7 Netherlands 2,122 2,140 -3,743 -3,704
8 Sweden 1,699 1,082 -1,152 -993
9 Switzerland -1,761 -10,326 1,202 -120
10 United Kingdom -20,232 -33,669 -9,099 9,838
11 Channel Islands & Isle
of Man (3) n.a. n.a. -16 222
12 Other Europe and former
U.S.S.R. -22,260 -2,700 -1,556 -563
13 Canada 7,348 -550 -3,592 -169
14 Latin America and
Caribbean -7,523 -4,914 1,150 827
15 Venezuela 362 1,288 313 -142
16 Other Latin America and
Caribbean 1,661 -11,581 7,026 3,009
17 Netherlands Antilles -9,546 5,379 -6,189 -2,040
18 Asia 29,359 1,639 -48 -119
19 Japan 20,102 10,580 -4,992 -1,504
20 Africa -3,021 -414 -244 -60
21 Other 1,547 1,372 811 -943
22 Nonmonetary international
and regional
organizations 565 -461 -511 -2
23 International 190 -483 -404 -11
24 Latin American Caribbean
regional 666 76 22 10
MEMO
25 Foreign countries -10,518 -53,571 -19,121 4,899
26 Official institutions -9,861 -6,302 -6,077 249
27 Other foreign -657 -47,269 -13,044 4,650
Oil-exporting countries
28 Middle East (4) 2,207 3,483 -3,806 -1,240
29 Africa (5) 0 0 -2 2
2001
Area or country Apr. May June
1 Total estimated -13,711 3,076 -3,445
2 Foreign countries -13,517 2,831 -3,237
3 Europe -5,599 -498 -2,522
4 Belgium (2) 240 -216 -25
5 Germany 1,769 1,176 -1,517
6 Luxembourg (2) 204 92 145
7 Netherlands -2,488 -1,730 1,117
8 Sweden 195 -386 -663
9 Switzerland 116 -912 -3
10 United Kingdom -4,736 1,120 -3,180
11 Channel Islands & Isle
of Man (3) -31 -9 22
12 Other Europe and former
U.S.S.R. -868 367 1,582
13 Canada 1,248 745 161
14 Latin America and
Caribbean -7,095 140 -3,812
15 Venezuela -148 51 -126
16 Other Latin America and
Caribbean -3,228 1,587 -545
17 Netherlands Antilles -3,719 -1,498 -3,141
18 Asia -2,928 2,704 3,464
19 Japan 3,099 4,658 -3,920
20 Africa 27 -6 -12
21 Other 830 -254 -516
22 Nonmonetary international
and regional
organizations -194 245 -208
23 International -213 393 -52
24 Latin American Caribbean
regional 25 -4 -2
MEMO
25 Foreign countries -13,517 2,831 -3,237
26 Official institutions -9,040 913 -3,243
27 Other foreign -4,477 1,918 6
Oil-exporting countries
28 Middle East (4) -383 -120 316
29 Africa (5) 0 1 3
2001
Area or country July Aug. Sept. (p)
1 Total estimated -11,494 4,410 (r) -1,921
2 Foreign countries -11,668 4,590 (r) -2,069
3 Europe -8,223 321 (r) -703
4 Belgium (2) -343 42 174
5 Germany -970 67 -113
6 Luxembourg (2) 168 -64 -348
7 Netherlands 1,263 2,437 -2,653
8 Sweden -114 593 1,037
9 Switzerland 270 -44 979
10 United Kingdom -7,844 -4,610 (r) 2,071
11 Channel Islands & Isle
of Man (3) -64 11 -1
12 Other Europe and former
U.S.S.R. -589 1,889 (r) -1,849
13 Canada -1,653 -356 -947
14 Latin America and
Caribbean 1,893 3,711 (r) -541
15 Venezuela 248 -128 39
16 Other Latin America and
Caribbean -880 67 (r) -524
17 Netherlands Antilles 2,525 3,772 -56
18 Asia -3,940 576 (r) -160
19 Japan -2,126 324 -3,339
20 Africa -65 -120 (r) 47
21 Other 320 458 235
22 Nonmonetary international
and regional
organizations 174 -180 148
23 International -90 103 -65
24 Latin American Caribbean
regional -1 -3 0
MEMO
25 Foreign countries -11,668 4,590 (r) -2,069
26 Official institutions -741 343 2,549
27 Other foreign -10,927 4,247 (r) -4,618
Oil-exporting countries
28 Middle East (4) -590 -308 -586
29 Africa (5) 2 -2 -2
(1.) Official and private transactions in marketable U.S. Treasury
securities having an original maturity of more than one year. Data
are based on monthly transactions reports. Excludes nonmarketable
U.S. Treasury bonds and notes held by official institutions of
foreign countries.
(2.) Before January 2001, combined data reported for Belgium and
Luxembourg.
(3.) Before January 2001, these data were included in the data
reported for the United Kingdom.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi
Arabia, and United Arab Emirates (Trucial States).
(5.) Comprises Algeria, Gabon, Libya, and Nigeria.
3.28 FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE
VALUE OF THE U.S. DOLLAR (1)
Currency units per U.S. dollar except as noted
Item 1998 1999 2000
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 62.91 64.54 58.15
2 Austria/schilling 12.379 n.a. n.a.
3 Belgium/franc 36.31 n.a. n.a.
4 Brazil/real 1.1605 1.8207 1.8301
5 Canada/dollar 1.4836 1.4858 1.4855
6 China, P.R./yuan 8.3008 8.2783 8.2784
7 Denmark/krone 6.7030 6.9900 8.0953
8 European Monetary
Union/euro (3) n.a. 1.0653 0.9232
9 Finland/markka 5.3473 n.a. n.a.
10 France/franc 5.8995 n.a. n.a.
11 Germany/deutsche mark 1.7597 n.a. n.a.
12 Greece/drachma 295.70 306.30 365.92
13 Hong Kong/dollar 7.7467 7.7594 7.7924
14 India/rupee 41.36 43.13 45.00
15 Ireland/pound (2) 142.48 n.a. n.a.
16 Italy/lira 1,736.85 n.a. n.a.
17 Japan/yen 130.99 113.73 107.80
18 Malaysia/ringgit 3.9254 3.8000 3.8000
19 Mexico/peso 9.152 9.553 9.459
20 Netherlands/guilder 1.9837 n.a. n.a.
21 New Zealand/dollar (2) 53.61 52.94 45.68
22 Norway/krone 7.5521 7.8071 8.8131
23 Portugal/escudo 180.25 n.a. n.a.
24 Singapore/dollar 1.6722 1.6951 1.7250
25 South Africa/rand 5.5417 6.1191 6.9468
26 South Korea/won 1,400.40 1,189.84 1,130.90
27 Spain/peseta 149.41 n.a. n.a.
28 Sri Lanka/rupee 65.006 70.868 76.964
29 Sweden/krona 7.9522 8.2740 9.1735
30 Switzerland/franc 1.4506 1.5045 1.6904
31 Taiwan/dollar 33.547 32.322 31.260
32 Thailand/baht 41.262 37.887 40.210
33 United Kingdom/
pound (2) 165.73 161.72 151.56
34 Venezuela/bolivar 548.39 606.82 680.52
Indexes (4)
NOMINAL
35 Broad (January
1997=100) (5) 116.48 116.87 119.93
36 Major currencies
(March 1973=100) (6) 95.79 94.07 98.34
37 Other important
trading partners
(January
1997=100) (7) 126.03 129.94 130.26
REAL
38 Broad (March
1973=100) (3) 99.50 (r) 98.82 (r) 102.49 (r)
39 Major currencies
(March 1973=100) (6) 97.21 (r) 96.64 (r) 102.83 (r)
40 Other important
trading partners
(March 1973=100) (7) 108.93 (r) 108.06 (r) 108.51 (r)
2001
Item June July Aug.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 51.80 50.89 52.46
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 2.3788 2.4731 2.5122
5 Canada/dollar 1.5245 1.5308 1.5399
6 China, P.R./yuan 8.2770 8.2769 8.2770
7 Denmark/krone 8.7397 8.6442 8.2632
8 European Monetary
Union/euro (3) 0.8530 0.8615 0.9014
9 Finland/markka n.a. n.a. n.a.
10 France/franc n.a. n.a. n.a.
11 Germany/deutsche mark n.a. n.a. n.a.
12 Greece/drachma n.a. n.a. n.a.
13 Hong Kong/dollar 7.7997 7.7999 7.7997
14 India/rupee 47.04 47.18 47.17
15 Ireland/pound (2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 122.35 124.50 121.37
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.088 9.168 9.133
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar (2) 41.41 40.81 43.14
22 Norway/krone 9.3014 9.2566 8.9427
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.8170 1.8233 1.7613
25 South Africa/rand 8.0595 8.2094 8.3115
26 South Korea/won 1,295.05 1,305.24 1,285.65
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 90.371 90.314 89.994
29 Sweden/krona 10.7930 10.7603 10.3329
30 Switzerland/franc 1.7856 1.7570 1.6808
31 Taiwan/dollar 34.328 34.821 34.639
32 Thailand/baht 45.263 45.641 44.907
33 United Kingdom/
pound (2) 140.20 141.48 143.72
34 Venezuela/bolivar 717.27 722.72 731.97
Indexes (4)
NOMINAL
35 Broad (January
1997=100) (5) 127.58 128.07 125.97
36 Major currencies
(March 1973=100) (6) 105.91 106.07 103.77
37 Other important
trading partners
(January
1997=100) (7) 136.43 137.37 136.03
REAL
38 Broad (March
1973=100) (5) 109.94 (r) 110.18 (r) 108.20 (r)
39 Major currencies
(March 1973=100) (6) 112.03 (r) 112.17 (r) 109.61 (r)
40 Other important
trading partners
(March 1973=100) (7) 114.13 (r) 114.49 (r) 113.15 (r)
2001
Item Sept. Oct. Nov.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 50.36 50.42 51.65
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 2.6767 2.7408 2.5481
5 Canada/dollar 1.5679 1.5717 1.5922
6 China, P.R./yuan 8.2768 8.2768 8.2769
7 Denmark/krone 8.1654 8.2186 8.3832
8 European Monetary
Union/euro (3) 0.9114 0.9050 0.8883
9 Finland/markka n.a. n.a. n.a.
10 France/franc n.a. n.a. n.a.
11 Germany/deutsche mark n.a. n.a. n.a.
12 Greece/drachma n.a. n.a. n.a.
13 Hong Kong/dollar 7.7997 7.7999 7.7996
14 India/rupee 47.75 48.05 48.04
15 Ireland/pound (2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 118.61 121.45 122.41
18 Malaysia/ringgit 3.8000 3.8001 3.8000
19 Mexico/peso 9.425 9.339 9.225
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar (2) 41.73 41.39 41.58
22 Norway/krone 8.7691 8.8329 8.9296
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.7494 1.8113 1.8295
25 South Africa/rand 8.6756 9.2804 9.7388
26 South Korea/won 1,293.83 1,302.36 1,282.10
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 90.157 90.954 92.670
29 Sweden/krona 10.6353 10.5661 10.6117
30 Switzerland/franc 1.6338 1.6357 1.6509
31 Taiwan/dollar 34.575 34.583 34.498
32 Thailand/baht 44.331 44.750 44.411
33 United Kingdom/
pound (2) 146.38 145.01 143.56
34 Venezuela/bolivar 743.46 743.22 745.10
Indexes (4)
NOMINAL
35 Broad (January
1997=100) (5) 126.28 127.20 127.72
36 Major currencies
(March 1973=100) (6) 103.32 104.27 105.55
37 Other important
trading partners
(January
1997=100) (7) 137.53 138.21 137.36
REAL
38 Broad (March
1973=100) (5) 108.64 (r) 109.09 (r) 109.38
39 Major currencies
(March 1973=100) (6) 109.46 (r) 110.54 (r) 112.10
40 Other important
trading partners
(March 1973=100) (7) 114.39 (r) 114.03 (r) 112.71
(1.) Averages of certified noon buying rates in New York for cable
transfers. Data in this table also appear in the Baord's G.5 (405)
monthly statistical release. For ordering address, see inside front
cover.
(2.) U.S. cents per currency unit.
(3.) The euro is reported in place of the individual euro area
currencies. By convention, the rate is reported in U.S. dollars per
euro. The bilateral currency rates can be derived from the euro rate
by using the fixed conversion rates (in currencies per euro) as
shown below:
Euro equals
13.7603 Austrian schillings
40.3399 Belgian francs
5.94573 Finnish markkas
6.55957 French francs
1.95583 German marks
.787564 Irish pounds
1936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
340.750 Greek drachmas
(4.) Starting with the February 2001 Bulletin, revised index values
resulting from the annual revision of data that underlie the
calculated trade weights are reported. For more information on the
indexes of the foreign exchange value of the dollar, see Federal
Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
(5.) Weighted average of the foreign exchange value of the U.S.
dollar against the currencies of a broad group of U.S. trading
partners. The weight for each currency is computed as an average of
U.S. bilateral import shares from and export shares to the issuing
country and of a measure of the importance to U.S. exporters of that
country's trade in third country markets.
(6.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that circulate
widely outside the country of issue. The weight for each currency is
its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one.
(7.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that do not
circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the
subset of currencies in the index sum to one.
4.31 PRO FORMA FINANCIAL STATEMENTS FOR FEDERAL RESERVE
PRICED SERVICES
A. Pro forma balance sheet
Millions of dollars
Item Sept. 30, 2001 Sept. 30, 2000
Short-term assets (Note 1)
Imputed reserve requirement
on clearing balances 772.1 603.4
Investment in marketable
securities 6,948.9 5,430.6
Receivables 72.1 71.8
Materials and supplies 3.0 3.2
Prepaid expenses 24.2 22.9
Items in process of
collection 3,111.9 3,152.5
Total short-term assets 10,932.2 9,284.4
Long-term assets (Note 2)
Premises 472.0 459.9
Furniture and equipment 170.3 163.2
Leases and leasehold
improvements 76.2 46.1
Prepaid pension costs 735.6 629.4
Total long-term assets 1,454.1 1,298.5
Total assets 12,386.3 10,582.9
Short-term liabilities
Clearing balances and
balances arising from
early credit of
uncollected items 7,185.3 5,718.1
Deferred-availability items 3,647.6 3,468.4
Short-term debt 99.3 97.9
Total short-term liabilities 10,932.2 9,284.4
Long-term liabilities
Long-term debt 502.6 417.3
Postretirement/
postemployment benefits
obligation 254.6 239.5
Total long-term liabilities 757.2 656.7
Total liabilities 11,689.4 9,941.1
Equity 696.9 641.8
Total liabilities and equity
(Note 3) 12,386.3 10,582.9
B. Pro forma income statement
Millions of dollars
Quarter ending Quarter ending
Item Sept. 30, 2001 Sept. 30, 2000
Revenue from services provided to
depository institutions (Note 4) 230.0 221.5
Operating expense (Note 5) 199.8 173.3
Income from operations 30.2 48.2
Imputed costs (Note 6)
Interest on float 16.1 2.5
Interest on debt 8.0 7.8
Sales taxes 3.6 1.9
FDIC insurance 0.0 27.7 0.0 12.2
Income from operations after
imputed costs 2.5 36.0
Other income and expenses (Note 7)
Investment income on clearing
balances 88.2 102.5
Earning credits (56.6) 31.6 (94.0) 8.5
Income before taxes 34.1 44.5
Imputed income taxes (Note 8) 10.7 14.0
Net income 23.3 30.5
MEMO
Targeted return on equity (Note 9) 27.3 24.6
Nine months Nine months
ending Sept. ending Sept.
30, 2001 30, 2000
Revenue from services provided to
depository institutions (Note 4) 693.3 654.9
Operating expense (Note 5) 598.5 519.7
Income from operations 94.9 135.2
Imputed costs (Note 6)
Interest on float 15.6 5.7
Interest on debt 24.0 23.6
Sales taxes 8.9 6.1
FDIC insurance 0.0 48.5 0.0 35.4
Income from operations after
imputed costs 46.4 99.8
Other income and expenses (Note 7)
Investment income on clearing
balances 233.4 306.2
Earning credits (200.6) 32.8 (275.8) 30.5
Income before taxes 79.1 130.2
Imputed income taxes (Note 8) 24.9 41.0
Net income 54.2 89.2
MEMO
Targeted return on equity (Note 9) 81.9 73.8
NOTE. Components may not sum to totals because of rounding. The priced
services financial statements consist of these tables and the
accompanying notes.
(l) SHORT-TERM ASSETS
The imputed reserve requirement on clearing balances held at Reserve
Banks by depository institutions reflects a treatment comparable to
that of compensating balances held at correspondent banks by
respondent institutions. The reserve requirement imposed on respondent
balances must be held as vault cash or as nonearning balances
maintained at a Reserve Bank; thus, a portion of priced services
clearing balances held with the Federal Reserve is shown as required
reserves on the asset side of the balance sheet. The remainder of
clearing balances is assumed to be invested in three-month Treasury
bills, shown as investment in marketable securities.
Receivables are (1) amounts due the Reserve Banks for priced services
and (2) the share of suspense-account and difference-account balances
related to priced services.
Materials and supplies are the inventory value of short-term assets.
Items in process of collection are gross Federal Reserve cash
items in process of collection (CIPC) stated on a basis
comparable to that of a commercial bank. It reflects adjustments
for intra-System items that would otherwise be double-counted on a
consolidated Federal Reserve balance sheet; adjustments for items
associated with non-priced items, such as those collected for
government agencies; and adjustments for items associated with
providing fixed availability or credit before items are received and
processed. Among the costs to be recovered under the Monetary
Control Act is the cost of float, or net CIPC, during the period
(the difference between gross CIPC and deferred-availability items,
which is the portion of gross CIPC that involves a financing cost),
valued at the federal funds rate.
(2) LONG-TERM ASSETS
Consists of long-term assets used solely in priced services, the
priced-services portion of long-term assets shared with non-priced
services, and an estimate of the assets of the Board of Governors used
in the development of priced services. Effective January 1, 1987, the
Reserve Banks implemented the Financial Accounting Standards Board's
Statement of Financial Accounting Standards No. 87, Employer's
Accounting for Pensions (SFAS 87). Accordingly, the Federal Reserve
Banks recognized credits to expenses of $86.6 million in the third
quarter of 2000, $57.7 million in the second quarter of 2000, $28.9
million in the first quarter of 2000, $75.7 million in the third
quarter of 2001, $50.4 million in the second quarter of 2001, $25.2
million in the first quarter of 2001, and corresponding increases in
the asset account.
(3) LIABILITIES AND EQUITY
Under the matched-book capital structure for assets that are not
"self-financing," short-term assets are financed with short-term
debt. Long-term assets are financed with long-term debt and equity in
a proportion equal to the ratio of long-term debt to equity for the
fifty largest bank holding companies, which are used in the model for
the private-sector adjustment factor (PSAF). The PSAF consists of the
taxes that would have been paid and the return on capital that would
have been provided had priced services been furnished by a
private-sector firm. Other short-term liabilities include clearing
balances maintained at Reserve Banks and deposit balances arising
from float. Other long-term liabilities consist of obligations on
capital leases.
(4) REVENUE
Revenue represents charges to depository institutions for priced
services and is realized from each institution through one of two
methods: direct charges to an institution's account or charges against
its accumulated earnings credits.
(5) OPERATING EXPENSES
Operating expenses consist of the direct, indirect, and other general
administrative expenses of the Reserve Banks for priced services plus
the expenses for staff members of the Board of Governors working
directly on the development of priced services. The expenses for Board
staff members totaled $3.68 million for the first, second, and third
quarters of 2001 and $3.15 million for the first, second, and third
quarters of 2000. The credit to expenses under SFAS 87 (see note 2) is
reflected in operating expenses.
(6) IMPUTED COSTS
Imputed costs consist of interest on float, interest on debt, sales
taxes, and the FDIC assessment. Interest on float is derived from the
value of float to be recovered, either explicitly or through per-item
fees, during the period. Float costs include costs for checks,
book-entry securities, non-cash collection, ACH, and funds transfers.
Interest is imputed on the debt assumed necessary to finance
priced-service assets. The sales taxes and FDIC assessment that the
Federal Reserve would have paid had it been a private-sector firm are
among the components of the PSAF (see note 3).
Float coats are based on the actual float incurred for each priced
service, multiplied by the appropriate federal funds rate. Other
imputed costs are allocated among priced services according to the
ratio of operating expenses less shipping expenses for each service
to the total expenses for all services less the total shipping
expenses for all services. The following list shows the daily average
recovery of float (before converting to float costs) by the Reserve
Banks for the first quarter of 2001 and 2000 in millions of dollars:
2001 2000
Total float 2,642.0 725.4
Uncovered float 154.8 145.6
Float subject to recovery 2,487.2 579.8
Sources of float recovery:
Income on clearing balances 248.2 58.0
As-of adjustments 408.7 430.8
Direct charges 1,696.2 314.2
Per-item fees 134.1 (223.2)
Unrecovered float includes float generated by services to government
agencies and by other central bank services. Float recovered through
income on clearing balances is the result of the increase in
investable clearing balances; the increase is produced by a deduction
for float for cash items in process of collection, which reduces
imputed reserve requirements. The income on clearing balances reduces
the float to be recovered through other means. As-of adjustments are
memorandum adjustments to an institution's reserve or cleating
position to recover float incurred by the institution. Direct charges
are billed to the institution for float incurred when an institution
chooses to close on a normal business day and for float incurred on
interterritory check transportation. Float recovered through direct
charges is valued at cost using the federal funds rate and charged
directly to an institution's account. Float recovered through per-item
fees is valued at the federal funds rate and has been added to the
cost base subject to recovery. The 2001 float levels were unusually
high related to the September 11 events.
(7) OTHER INCOME AND EXPENSES
Consists of imputed investment income on clearing balances and the
actual cost of earnings credits. Investment income on clearing
balances represents the average coupon-equivalent yield on three-month
Treasury bills applied to the total clearing balance maintained,
adjusted for the effect of reserve requirements on clearing balances.
Expenses for earnings credits granted to depository institutions on
their clearing balances are derived by applying the average federal
funds rate to the required portion of the clearing balances, adjusted
for the net effect of reserve requirements on clearing balances.
(8) INCOME TAXES
Imputed income taxes are calculated at the effective tax rate derived
from the PSAF model (see note 3)
(9) RETURN ON EQUITY
Represents the after-tax rate of return on equity that the Federal
Reserve would have earned had it been a private business firm, as
derived from the PSAF model (see note 3)
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