Financial and business statistics.
A3 GUIDE TO TABLES
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
A4 Reserves and money stock measures
A5 Reserves of depository institutions and Reserve Bank
credit
A6 Reserves and borrowings--Depository
institutions
Policy Instruments
A7 Federal Reserve Bank interest rates
A8 Reserve requirements of depository institutions
A9 Federal Reserve open market transactions
Federal Reserve Banks
A10 Condition and Federal Reserve note statements
A11 Maturity distribution of loan and security
holding
Monetary and Credit Aggregates
A12 Aggregate reserves of depository institutions
and monetary base
A13 Money stock measures
Commercial Banking Institutions--Assets
and Liabilities
A15 All commercial banks in the United States
A16 Domestically chartered commercial banks
A17 Large domestically chartered commercial banks
A19 Small domestically chartered commercial banks
A20 Foreign-related institutions
Financial Markets
A22 Commercial paper outstanding
A22 Prime rate charged by banks on short-term
business loans
A23 Interest rates--Money and capital markets
A24 Stock market--Selected statistics
Federal Finance
A25 Federal debt subject to statutory limitation
A25 Gross public debt of U.S. Treasury--Types
and ownership
A26 U.S. government securities
dealers--Transactions
A27 U.S. government securities dealers--Positions
and financing
A28 Federal and federally sponsored credit
agencies--Debt outstanding
Securities Markets and Corporate Finance
A29 New security issues--Tax-exempt state and local
governments and corporations
A30 Open-end investment companies--Net sales
and assets
A30 Domestic finance companies--Assets and liabilities
A31 Domestic finance companies--Owned and managed
receivables
Real Estate
A32 Mortgage markets--New homes
A33 Mortgage debt outstanding
Consumer Credit
A34 Total outstanding
A34 Terms
Flow of Funds
A35 Funds raised in U.S. credit markets
A37 Summary of financial transactions
A38 Summary of credit market debt outstanding
A39 Summary of financial assets and liabilities
DOMESTIC NONFINANCIAL STATISTICS
Selected Measures
A40 Output, capacity, and capacity utilization
A42 Industrial production--Indexes and gross value
INTERNATIONAL STATISTICS
Summary Statistics
A44 U.S. international transactions
A45 U.S. reserve assets
A45 Foreign official assets held at Federal Reserve
Banks
A46 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
A46 Liabilities to, and claims on, foreigners
A47 Liabilities to foreigners
A49 Banks' own claims on foreigners
A50 Banks' own and domestic customers' claims on
foreigners
A51 Banks' own claims on unaffiliated foreigners
Reported by Nonbanking Business
Enterprises in the United States
A52 Liabilities to unaffiliated foreigners
A53 Claims on unaffiliated foreigners
Securities Holdings and Transactions
A54 Foreign transactions in securities
A55 Marketable U.S. Treasury bonds and
notes--Foreign transactions
Interest and Exchange Rates
A56 Foreign exchange rates
A57 GUIDE TO SPECIAL TABLES AND
STATISTICAL RELEASES
A58 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 is in millions)
0 Calculated to be zero
... Cell not applicable
ABS Asset-backed security
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FAMC Federal 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. Domestic Financial Statistic Money Stock and Bank Credit
1.10 RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted (1)
2002 2002
Monetary or credit
aggregate Q1 Q2 Q3 Q4 Oct.
Reserves of depository
institutions (2)
1 Total -12.6 -13.5 -2.0 .3 -2.1
2 Required -12.3 -12.4 -4.8 -2.1 -4.5
3 Nonborrowed -12.2 -14.0 -3.5 1.2 .6
4 Monetary base (3) 8.8 7.5 6.9 5.0 5.1
Concepts of money (4)
5 M1 5.7 -.6 3.1 4.5 11.2
6 M2 6.7 4.1 9.1 7.1 8.3
7 M3 5.8 4.1 7.7 7.5 .8
Nontransaction
components
8 In M2 (5) 7.0 5.4 10.8 7.8 7.5
9 In M3 only (6) 3.8 4.2 4.5 8.2 -15.3
Time and savings
deposits
Commercial banks
10 Savings, including
MMDAs 20.4 15.1 20.1 16.9 14.3
11 Small time (7) -16.1 -6.3 -6.3 -9.1 -8.7
12 Large time (8),(9) 5.1 12.4 3.7 -4.0 9.9
Thrift institutions
13 Savings, including
MMDAs 31.0 24.0 20.5 20.5 22.3
14 Small time (7) -12.3 -16.6 -12.3 -6.5 (r) -5.9
15 Large time (8) 1.5 -8.1 -3.2 11.1 10.7
Money market mutual
funds
16 Retail -7.8 -9.2 4.7 -4.4 -2.8
17 Institution-only 3.5 3.9 -.8 1.9 -41.3
Repurchase agreements
and eurodollars
18 Repurchase 3.0 -.7 27.5 45.0 -4.8
agreements (10)
19 Eurodollars (10) 3.6 -4.7 .2 14.6 (r) 11.6
2002 2003
Monetary or credit Jan.
aggregate Nov. Dec. (r) Feb.
Reserves of depository
institutions (2)
1 Total 15.4 13.0 14.7 4.4
2 Required 13.9 1.6 26.0 -3.1
3 Nonborrowed 11.5 19.0 16.3 4.4
4 Monetary base (3) 5.7 7.5 6.7 10.0
Concepts of money (4)
5 M1 -.9 7.8 1.7 19.3
6 M2 8.1 3.2 6.0 11.2
7 M3 17.2 7.5 (r) -.7 7.7
Nontransaction
components
8 In M2 (5) 10.5 1.9 7.2 9.1
9 In M3 only (6) 37.2 16.9 (r) -15.2 .2
Time and savings
deposits
Commercial banks
10 Savings, including
MMDAs 20.9 3.6 18.6 15.8
11 Small time (7) -7.3 -9.0 -8.0 -8.5
12 Large time (8),(9) -13.3 -32.6 14.6 18.4
Thrift institutions
13 Savings, including
MMDAs 13.9 21.7 21.3 26.9
14 Small time (7) -4.4 -2.8 (r) -5.2 -6.8
15 Large time (8) 16.9 15.6 13.4 2.0
Money market mutual
funds
16 Retail 1.9 -8.0 -14.6 -3.7
17 Institution-only 68.7 25.0 -35.3 -20.1
Repurchase agreements
and eurodollars
18 Repurchase 55.3 77.7 -23.8 34.0
agreements (10)
19 Eurodollars (10) 12.0 7.9 (r) 10.1 -19.0
(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 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.
(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 RESERVE BALANCES OF DEPOSITORY INSTITUTIONS (1)
Millions of dollars
Average of daily figures
2002 2003
Factor Dec. Jan. Feb.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 690,026 694,979 696,613
2 Securities held outright 621,828 629,416 631,830
3 U.S. Treasury (2) 621,818 629,406 631,820
4 Bills (3) 219,169 226,682 228,026
5 Notes and bonds,
nominal (3) 389,156 389,219 390,305
6 Notes and bonds,
inflation-
indexed (3) 12,242 12,242 12,242
Inflation compen-
7 sation (4) 1,251 1,263 1,247
8 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 29,476 25,395 24,558
10 Loans to depository
institutions 89 28 19
11 Primary credit (6) 0 15 15
12 Secondary credit (6) 0 0 0
13 Seasonal credit 46 11 4
14 Adjustment credit (6) 42 2 0
15 Float 604 565 977
16 Other Federal Reserve
assets 38,029 39,575 39,229
17 Gold stock 11,043 11,043 11,043
18 Special drawing rights
certificate account 2,200 2,200 2,200
19 Treasury currency
outstanding 34,539 34,597 34,650
ABSORBING RESERVE FUNDS
20 Currency in circulation 678,660 677,745 680,336
21 Reverse repurchase
agreements (7) 12,862 18,534 18,222
21 Foreign official and
international accounts 12,862 18,534 17,954
23 Dealers 0 0 268
24 Treasury cash holdings 370 366 354
25 Deposits with Federal
Reserve Banks, other
than reserve balances 16,074 17,053 16,236
26 U.S. Treasury, general
account 4,891 5,773 5,053
27 Foreign official 134 126 125
28 Service-related 10,808 10,907 10,819
29 Required clearing
balances 10,407 10,484 10,330
30 Adjustments to
compensate for float 402 423 489
31 Other 242 247 239
32 Other liabilities and
capital 20,061 19,651 19,664
33 Reserve balances with
Federal Reserve Banks (8) 9,781 9,469 9,693
End-of-month figures
Factor Dec. Jan. Feb.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 708,078 697,826 701,055
2 Securities held outright 629,416 629,416 636,921
3 U.S. Treasury (2) 629,406 629,406 636,911
4 Bills (3) 226,682 226,682 230,843
5 Notes and bonds,
nominal (3) 389,219 389,219 392,593
6 Notes and bonds,
inflation-
indexed (3) 12,242 12,242 12,242
Inflation compen-
7 sation (4) 1,263 1,263 1,233
8 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 39,500 24,750 26,900
10 Loans to depository
institutions 40 7 5
11 Primary credit (6) 0 1 1
12 Secondary credit (6) 0 0 0
13 Seasonal credit 31 6 4
14 Adjustment credit (6) 9 0 0
15 Float 418 3,768 4
16 Other Federal Reserve
assets 38,703 39,884 37,225
17 Gold stock 11,043 11,043 11,043
18 Special drawing rights
certificate account 2,200 2,200 2,200
19 Treasury currency
outstanding 34,597 34,597 34,710
ABSORBING RESERVE FUNDS
20 Currency in circulation 687,518 674,736 681,634
21 Reverse repurchase
agreements (7) 21,091 18,370 18,018
21 Foreign official and
international accounts 21,091 18,370 18,018
23 Dealers 0 0 0
24 Treasury cash holdings 367 361 343
25 Deposits with Federal
Reserve Banks, other
than reserve balances 16,356 16,558 15,406
26 U.S. Treasury, general
account 4,420 5,509 4,268
27 Foreign official 136 102 224
28 Service-related 10,648 10,724 10,721
29 Required clearing
balances 10,534 10,356 10,336
30 Adjustments to
compensate for float 114 368 385
31 Other 1,152 223 193
32 Other liabilities and
capital 18,977 19,478 19,739
33 Reserve balances with
Federal Reserve Banks (8) 11,608 16,163 13,868
Average of daily figures for
week ending on date indicated
2003
Factor Jan. 15 Jan. 22 Jan. 29
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 692,996 696,984 690,574
2 Securities held outright 629,416 629,416 629,416
3 U.S. Treasury (2) 629,406 629,406 629,406
4 Bills (3) 226,682 226,682 226,682
5 Notes and bonds,
nominal (3) 389,219 389,219 389,219
6 Notes and bonds,
inflation-
indexed (3) 12,242 12,242 12,242
Inflation compen-
7 sation (4) 1,263 1,263 1,263
8 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 24,428 27,036 20,143
10 Loans to depository
institutions 16 19 52
11 Primary credit (6) 6 12 45
12 Secondary credit (6) 0 0 0
13 Seasonal credit 11 7 7
14 Adjustment credit (6) 0 0 0
15 Float -291 786 744
16 Other Federal Reserve
assets 39,426 39,726 40,220
17 Gold stock 11,043 11,043 11,043
18 Special drawing rights
certificate account 2,200 2,200 2,200
19 Treasury currency
outstanding 34,597 34,597 34,597
ABSORBING RESERVE FUNDS
20 Currency in circulation 676,426 675,941 674,782
21 Reverse repurchase
agreements (7) 18,152 18,567 18,397
21 Foreign official and
international accounts 18,152 18,567 18,397
23 Dealers 0 0 0
24 Treasury cash holdings 369 368 360
25 Deposits with Federal
Reserve Banks, other
than reserve balances 16,755 17,637 18,034
26 U.S. Treasury, general
account 5,244 6,133 7,162
27 Foreign official 173 113 114
28 Service-related 11,128 11,166 10,538
29 Required clearing
balances 10,538 10,539 10,355
30 Adjustments to
compensate for float 590 627 183
31 Other 210 225 221
32 Other liabilities and
capital 19,738 19,916 19,873
33 Reserve balances with
Federal Reserve Banks (8) 9,395 12,395 6,968
Wednesday figures
Factor Jan. 15 Jan. 22 Jan. 29
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 698,283 711,435 692,303
2 Securities held outright 629,416 629,416 629,416
3 U.S. Treasury (2) 629,406 629,406 629,406
4 Bills (3) 226,682 226,682 226,682
5 Notes and bonds,
nominal (3) 389,219 389,219 389,219
6 Notes and bonds,
inflation-
indexed (3) 12,242 12,242 12,242
Inflation compen-
7 sation (4) 1,263 1,263 1,263
8 Federal agency (3) 10 10 10
9 Repurchase agreements (5) 30,000 36,750 20,500
10 Loans to depository
institutions 15 13 11
11 Primary credit (6) 5 6 4
12 Secondary credit (6) 0 0 0
13 Seasonal credit 10 7 7
14 Adjustment credit (6) 0 0 0
15 Float -507 5,372 1,961
16 Other Federal Reserve
assets 39,359 39,884 40,414
17 Gold stock 11,043 11,043 11,043
18 Special drawing rights
certificate account 2,200 2,200 2,200
19 Treasury currency
outstanding 34,597 34,597 34,597
ABSORBING RESERVE FUNDS
20 Currency in circulation 676,076 676,437 675,733
21 Reverse repurchase
agreements (7) 17,813 18,523 18,466
21 Foreign official and
international accounts 17,813 18,523 18,466
23 Dealers 0 0 0
24 Treasury cash holdings 369 360 361
25 Deposits with Federal
Reserve Banks, other
than reserve balances 16,785 17,635 17,882
26 U.S. Treasury, general
account 5,192 6,119 7,030
27 Foreign official 253 122 100
28 Service-related 11,128 11,166 10,538
29 Required clearing
balances 10,538 10,539 10,355
30 Adjustments to
compensate for float 590 627 183
31 Other 213 228 214
32 Other liabilities and
capital 19,631 19,549 19,574
33 Reserve balances with
Federal Reserve Banks (8) 15,449 26,771 8,127
Average of daily figures for
week ending on date indicated
2003
Factor Feb. 5 Feb. 12 Feb. 19 Feb. 26
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 694,474 691,400 701,766 696,923
2 Securities held outright 629,415 629,951 631,009 634,932
3 U.S. Treasury (2) 629,405 629,941 630,999 634,922
4 Bills (3) 226,682 226,941 227,294 230,030
5 Notes and bonds,
nominal (3) 389,219 389,504 390,217 391,412
6 Notes and bonds,
inflation-
indexed (3) 12,242 12,242 12,242 12,242
Inflation compen-
7 sation (4) 1,261 1,253 1,245 1,238
8 Federal agency (3) 10 10 10 10
9 Repurchase agreements (5) 24,393 19,285 30,067 23,321
10 Loans to depository
institutions 15 31 19 13
11 Primary credit (6) 11 28 14 10
12 Secondary credit (6) 0 0 0 0
13 Seasonal credit 4 3 5 4
14 Adjustment credit (6) 0 0 0 0
15 Float 577 1,698 831 1,322
16 Other Federal Reserve
assets 40,074 40,436 39,840 37,335
17 Gold stock 11,043 11,043 11,043 11,043
18 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
19 Treasury currency
outstanding 34,597 34,630 34,657 34,684
ABSORBING RESERVE FUNDS
20 Currency in circulation 675,778 678,459 682,830 682,262
21 Reverse repurchase
agreements (7) 18,483 18,949 17,925 17,738
21 Foreign official and
international accounts 18,483 17,878 17,925 17,738
23 Dealers 0 1,071 0 0
24 Treasury cash holdings 360 356 358 347
25 Deposits with Federal
Reserve Banks, other
than reserve balances 16,456 15,954 16,157 16,510
26 U.S. Treasury, general
account 5,392 4,681 5,048 5,249
27 Foreign official 108 115 132 111
28 Service-related 10,724 10,918 10,730 10,904
29 Required clearing
balances 10,355 10,317 10,315 10,337
30 Adjustments to
compensate for float 368 601 415 567
31 Other 232 239 247 245
32 Other liabilities and
capital 19,513 19,450 19,659 19,964
33 Reserve balances with
Federal Reserve Banks (8) 11,724 6,104 12,738 8,029
Wednesday figures
Factor Feb. 5 Feb. 12 Feb. 19 Feb. 26
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 687,800 691,731 706,863 700,685
2 Securities held outright 629,411 630,957 631,273 636,006
3 U.S. Treasury (2) 629,401 630,947 631,263 635,996
4 Bills (3) 226,682 227,238 227,561 230,606
5 Notes and bonds,
nominal (3) 389,219 390,217 390,217 391,913
6 Notes and bonds,
inflation-
indexed (3) 12,242 12,242 12,242 12,242
Inflation compen-
7 sation (4) 1,257 1,250 1,242 1,235
8 Federal agency (3) 10 10 10 10
9 Repurchase agreements (5) 27,750 20,746 34,496 25,750
10 Loans to depository
institutions 15 4 17 6
11 Primary credit (6) 13 0 13 1
12 Secondary credit (6) 0 0 0 0
13 Seasonal credit 2 4 4 5
14 Adjustment credit (6) 0 0 0 0
15 Float -9,649 -516 3,838 1,307
16 Other Federal Reserve
assets 40,273 40,541 37,239 37,616
17 Gold stock 11,043 11,043 11,043 11,043
18 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
19 Treasury currency
outstanding 34,597 34,630 34,657 34,684
ABSORBING RESERVE FUNDS
20 Currency in circulation 677,992 681,216 684,226 682,915
21 Reverse repurchase
agreements (7) 17,986 17,604 17,850 17,421
21 Foreign official and
international accounts 17,986 17,604 17,850 17,421
23 Dealers 0 0 0 0
24 Treasury cash holdings 356 360 348 343
25 Deposits with Federal
Reserve Banks, other
than reserve balances 16,782 14,777 15,553 16,246
26 U.S. Treasury, general
account 5,664 3,527 4,407 4,950
27 Foreign official 148 103 134 154
28 Service-related 10,724 10,918 10,730 10,904
29 Required clearing
balances 10,355 10,317 10,315 10,337
30 Adjustments to
compensate for float 368 601 415 567
31 Other 246 228 281 238
32 Other liabilities and
capital 19,274 19,265 19,665 19,699
33 Reserve balances with
Federal Reserve Banks (8) 3,250 6,383 17,121 11,988
(1.) Amounts of vault cash held as reserves are shown in
table 1.12, line 2.
(2.) Includes securities lent to dealers, which are fully
collateralized by other U.S. Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the effect of inflation on
the original face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized
by U.S. Treasury and federal agency securities.
(6.) The Federal Reserve Banks began offering primary credit
and secondary credit on January 9, 2003. The adjustment credit
program was discontinued.
(7.) Cash value of agreements, which are fully collateralized
by U.S. Treasury securities. The Federal Reserve Banks began
using these agreements on December 13, 2002.
(8.) 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
2000 2001 2002 2002
Reserve classification Dec. Dec. Dec. Aug.
1 Reserve balances with
Reserve Banks (2) 7,022 9,053 9,873 8,520
2 Total vault cash (3) 45,245 43,919 43,334 42,892
3 Applied vault cash (4) 31,451 32,024 30,300 31,335
4 Surplus vault cash (5) 13,794 11,895 13,033 11,557
5 Total reserves (6) 38,473 41,077 40,173 39,854
6 Required reserves 37,046 39,428 38,176 38,217
7 Excess reserve balances
at Reserve Banks (7) 1,427 1,649 1,997 1,637
8 Total borrowing at Reserve
Banks 210 67 80 333
9 Primary ... ... ... ...
10 Secondary ... ... ... ...
11 Seasonal 111 33 45 185
12 Adjustment 99 34 35 148
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
2002
Oct. 30 Nov. 13 Nov. 27 Dec. 11
1 Reserve balances with
Reserve Banks (2) 9,634 8,864 10,497 9,559
2 Total vault cash (3) 42,465 41,720 42,605 41,827
3 Applied vault cash (4) 30,573 28,302 30,514 29,419
4 Surplus vault cash (5) 11,892 13,418 12,092 12,408
5 Total reserves (6) 40,207 37,166 41,010 38,978
6 Required reserves 38,688 35,492 39,441 37,394
7 Excess reserve balances
at Reserve Banks (7) 1,519 1,674 1,569 1,583
8 Total borrowing at Reserve
Banks 111 366 214 133
9 Primary ... ... ... ...
10 Secondary ... ... ... ...
11 Seasonal 107 67 57 50
12 Adjustment 4 299 157 83
Prorated monthly averages
of biweekly averages
2002
Reserve classification Sept. Oct. Nov. Dec.
1 Reserve balances with
Reserve Banks (2) 8,731 8,836 9,695 9,873
2 Total vault cash (3) 42,231 42,933 42,144 43,334
3 Applied vault cash (4) 30,176 29,849 29,446 30,300
4 Surplus vault cash (5) 12,055 13,084 12,698 13,033
5 Total reserves (6) 38,907 38,685 39,141 40,173
6 Required reserves 37,431 37,134 37,525 38,176
7 Excess reserve balances
at Reserve Banks (7) 1,476 1,550 1,616 1,997
8 Total borrowing at Reserve
Banks 229 143 272 80
9 Primary ... ... ... ...
10 Secondary ... ... ... ...
11 Seasonal 169 120 60 45
12 Adjustment 60 23 211 35
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
2002 2003
Dec. 25 Jan. 8 Jan. 22 Feb. 5
1 Reserve balances with
Reserve Banks (2) 10,408 9,200 10,894 9,336
2 Total vault cash (3) 43,740 45,148 44,363 50,026
3 Applied vault cash (4) 30,292 31,935 31,500 35,378
4 Surplus vault cash (5) 13,448 13,213 12,863 14,648
5 Total reserves (6) 40,700 41,135 42,394 44,714
6 Required reserves 38,225 39,495 40,631 43,196
7 Excess reserve balances
at Reserve Banks (7) 2,475 1,640 1,763 1,518
8 Total borrowing at Reserve
Banks 57 36 18 34
9 Primary ... ... 9 28
10 Secondary ... ... 0 0
11 Seasonal 48 29 9 6
12 Adjustment 10 8 ... ...
Prorated monthly
averages of
biweekly averages
2003
Reserve classification Jan. Feb.
1 Reserve balances with
Reserve Banks (2) 10,004 9,807
2 Total vault cash (3) 46,210 45,939
3 Applied vault cash (4) 32,738 32,066
4 Surplus vault cash (5) 13,471 13,873
5 Total reserves (6) 42,743 41,873
6 Required reserves 41,082 39,966
7 Excess reserve balances
at Reserve Banks (7) 1,660 1,908
8 Total borrowing at Reserve
Banks 27 25
9 Primary 12 21
10 Secondary 0 0
11 Seasonal 13 5
12 Adjustment 2 ...
Biweekly averages
of daily figures
for two-week
periods ending on
dates indicated
2003
Feb. 19 Mar. 5
1 Reserve balances with
Reserve Banks (2) 9,431 10,654
2 Total vault cash (3) 46,005 43,567
3 Applied vault cash (4) 30,911 32,024
4 Surplus vault cash (5) 15,095 11,543
5 Total reserves (6) 40,342 42,678
6 Required reserves 38,009 41,215
7 Excess reserve balances
at Reserve Banks (7) 2,332 1,463
8 Total borrowing at Reserve
Banks 25 21
9 Primary 21 17
10 Secondary 0 0
11 Seasonal 4 5
12 Adjustment ... ...
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to compensate
for float and includes other off-balance-sheet "as-of" 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 he used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "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).
Policy Instruments
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit (1)
Federal Reserve On
Bank 4/11/03 Effective date Previous rate
Boston 2.25 1/9/03 n/a
New York 2.25 1/9/03 n/a
Philadelphia 2.25 1/9/03 n/a
Cleveland 2.25 1/9/03 n/a
Richmond 2.25 1/9/03 n/a
Atlanta 2.25 1/9/03 n/a
Chicago 2.25 1/9/03 n/a
St. Louis 2.25 1/9/03 n/a
Minneapolis 2.25 1/9/03 n/a
Kansas City 2.25 1/9/03 n/a
Dallas 2.25 1/9/03 n/a
San Francisco 2.25 1/9/03 n/a
Current and previous levels
Secondary credit (2)
Federal Reserve On
Bank 4/11/03 Effective date Previous rate
Boston 2.75 1/9/03 n/a
New York 2.75 1/9/03 n/a
Philadelphia 2.75 1/9/03 n/a
Cleveland 2.75 1/9/03 n/a
Richmond 2.75 1/9/03 n/a
Atlanta 2.75 1/9/03 n/a
Chicago 2.75 1/9/03 n/a
St. Louis 2.75 1/9/03 n/a
Minneapolis 2.75 1/9/03 n/a
Kansas City 2.75 1/9/03 n/a
Dallas 2.75 1/9/03 n/a
San Francisco 2.75 1/9/03 n/a
Current and previous levels
Seasonal credit (3)
Federal Reserve On
Bank 4/11/03 Effective date Previous rate
Boston 1.25 4/3/03 1.20
New York 1.25 4/3/03 1.20
Philadelphia 1.25 4/3/03 1.20
Cleveland 1.25 4/3/03 1.20
Richmond 1.25 4/3/03 1.20
Atlanta 1.25 4/3/03 1.20
1.20
Chicago 1.25 4/3/03 1.20
St. Louis 1.25 4/3/03 1.20
Minneapolis 1.25 4/3/03 1.20
Kansas City 1.25 4/3/03 1.20
Dallas 1.25 4/3/03 1.20
San Francisco 1.25 4/3/03 1.25
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003 2.25 2.25
(beginning of program)
Range of rates for adjustment credit in recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 550 5.50
May 16 5.50.-6.00 5.50
19 6.00 6.00
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001--May 15 3.50-4.00 3.50
17 3.50 3.50
2001--June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
2002--Nov. 6 0.75-1.25 0.75
7 0.75 0.75
In effect Jan. 8, 2003 0.75 0.75
(end of program)
(1.) Available for very short terms as a backup source of liquidity
to depository institutions that are in generally sound financial
condition in the judgment of the lending Federal Reserve Bank.
(2.) Available in appropriate circumstances to depository institutions
that do not qualify for primary credit.
(3.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise 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.
(4.) Was available until January 8, 2003, to help depository
institutions meet temporary needs for funds that could not be met
through reasonable alternative sources. For earlier data, see the
following publications of the Board of Governors: Banking and
Monetary Statistics, 1914-1941, and 1941-1970; and the Statistical
Digest, 1970-1979, 1980-1989, and 1990-1995. See also the Board's
Statistics: Releases and Historical Data web pages
(http://www.federalreserve.gov/releases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Type of deposit Percentage of Effective
deposits date
Net transaction accounts (2)
1 $0 million-$6 million (3) 0 12/26/02
2 More than $6 million-$42.1 million (4) 3 12/26/02
3 More than $42.1 million (5) 10 12/26/02
4 Nonpersonal time deposits (6) 0 12/27/90
5 Eurocurrency liabilities (7) 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.) 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 26,
2002, for depository institutions that report weekly, and with the
period beginning January 16, 2003, for institutions that report
quarterly, the exemption was raised from $5.7 million to $6.0 million.
(4.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change
in transaction accounts held by all depository institutions,
determined as of June 30 of each year. Effective with the reserve
maintenance period beginning December 26, 2002, for depository
institutions that report weekly, and with the period beginning
January 16, 2003, for institutions that report quarterly, the
amount was increased from $41.3 million to $42.1 million.
(5.) The reserve requirement was reduced from 12 percent to 10
percent on April 2, 1992, for institutions that report weekly, and
on April 16, 1992, for institutions that report quarterly.
(6.) For institutions that report weekly, the reserve requirement
on nonpersonal time deposits with an original maturity of less
than 1.5 years was reduced from 3 percent to 1.5 percent for the
maintenance period that began December 13, 1990, and to zero for
the maintenance period that began December 27, 1990. For institutions
that report quarterly, the reserve requirement on nonpersonal time
deposits with an original maturity of less than 1.5 years was reduced
from 3 percent to zero on January 17, 1991.
The reserve requirement on nonpersonal time deposits with an
original maturity of 1.5 years or more has been zero since
October 6, 1983.
(7.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as
the reserve requirement on nonpersonal time deposits with an
original maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transaction
and maturity 2000 2001 2002
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 8,676 15,503 21,421
2 Gross sales 0 0 0
3 Exchanges 477,904 542,736 657,931
4 For new bills 477,904 542,736 657,931
5 Redemptions 24,522 10,095 0
Others within one year
6 Gross purchases 8,809 15,663 12,720
7 Gross sales 0 0 0
8 Maturity shifts 62,025 70,336 89,108
9 Exchanges -54,656 -72,004 -92,075
10 Redemptions 3,779 16,802 0
One to five years
11 Gross purchases 14,482 22,814 12,748
12 Gross sales 0 0 0
13 Maturity shifts -52,068 -45,211 -73,093
14 Exchanges 46,177 64,519 88,276
Five to ten years
15 Gross purchases 5,871 6,003 5,074
16 Gross sales 0 0 0
17 Maturity shifts -6,801 -21,063 -11,588
18 Exchanges 6,585 6,063 3,800
More than ten years
19 Gross purchases 5,833 8,531 2,280
20 Gross sales 0 0 0
21 Maturity shifts -3,155 -4,062 -4,427
22 Exchanges 1,894 1,423 0
All maturities
23 Gross purchases 43,670 68,513 54,242
24 Gross sales 0 0 0
25 Redemptions 28,301 26,897 0
Matched transactions
26 Gross purchases 4,415,905 4,722,667 4,981,624
27 Gross sales 4,397,835 4,724,743 4,958,437
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
Reverse repurchase
agreements
30 Gross purchases 0 0 0
31 Gross sales 0 0 0
32 Net change in U.S. Treasury
securities 33,439 39,540 77,430
FEDERAL AGENCY OBLIGATIONS
Outright transactions
33 Gross purchases 0 0 0
34 Gross sales 0 0 0
35 Redemptions 51 120 0
Repurchase agreements
36 Gross purchases 0 0 0
37 Gross sales 0 0 0
38 Net change in federal
agency obligations -51 -120 0
TRIPARTY OBLIGATIONS
Repurchase agreements
39 Gross purchases 890,236 1,497,713 1,143,126
40 Gross sales 987,501 1,490,838 1,153,876
41 Net change in triparty
obligations -97,265 6,875 -10,750
42 Total net change in System
Open Market Account -63,877 46,295 66,680
2002
Type of transaction
and maturity July Aug. Sept. Oct.
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 4,838 529 750 0
2 Gross sales 0 0 0 0
3 Exchanges 45,828 63,083 53,314 62,947
4 For new bills 45,828 63,083 53,314 62,947
5 Redemptions 0 0 0 0
Others within one year
6 Gross purchases 1,104 445 1,286 0
7 Gross sales 0 0 0 0
8 Maturity shifts 11,052 8,987 11,174 6,143
9 Exchanges -14,183 -5,040 -15,189 -5,435
10 Redemptions 0 0 0 0
One to five years
11 Gross purchases 1,755 1,921 0 0
12 Gross sales 0 0 0 0
13 Maturity shifts -11,052 -629 -11,174 -6,143
14 Exchanges 13,283 3,396 15,189 5,435
Five to ten years
15 Gross purchases 577 690 51 0
16 Gross sales 0 0 0 0
17 Maturity shifts 0 -6.714 0 0
18 Exchanges 900 1,645 0 0
More than ten years
19 Gross purchases 63 80 0 0
20 Gross sales 0 0 0 0
21 Maturity shifts 0 -1,645 0 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 8,336 3,665 2,087 0
24 Gross sales 0 0 0 0
25 Redemptions 0 0 0 0
Matched transactions
26 Gross purchases 513,400 495,729 449,250 429,029
27 Gross sales 511,902 497,031 449,986 425,399
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
Reverse repurchase
agreements
30 Gross purchases 0 0 0 0
31 Gross sales 0 0 0 0
32 Net change in U.S. Treasury
securities 9,834 2,363 1,351 3,630
FEDERAL AGENCY OBLIGATIONS
Outright transactions
33 Gross purchases 0 0 0 0
34 Gross sales 0 0 0 0
35 Redemptions 0 0 0 0
Repurchase agreements
36 Gross purchases 0 0 0 0
37 Gross sales 0 0 0 0
38 Net change in federal
agency obligations 0 0 0 0
TRIPARTY OBLIGATIONS
Repurchase agreements
39 Gross purchases 68,750 84,000 93,500 72,000
40 Gross sales 81,250 80,500 94,750 77,250
41 Net change in triparty
obligations -12,500 3,500 -1,250 -5,250
42 Total net change in System
Open Market Account -2,666 5,863 101 -1,620
2002 2003
Type of transaction
and maturity Nov. Dec. Jan.
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 250 0 0
2 Gross sales 0 0 0
3 Exchanges 51,394 53,374 71,075
4 For new bills 51,394 53,374 71,075
5 Redemptions 0 0 0
Others within one year
6 Gross purchases 0 0 0
7 Gross sales 0 0 0
8 Maturity shifts 3,688 13,448 6,216
9 Exchanges -1,419 -12,059 -6,834
10 Redemptions 0 0 0
One to five years
11 Gross purchases 0 339 0
12 Gross sales 0 0 0
13 Maturity shifts -2,380 -13,448 -6,216
14 Exchanges 1,308 12,059 6,834
Five to ten years
15 Gross purchases 0 314 0
16 Gross sales 0 0 0
17 Maturity shifts 722 0 0
18 Exchanges 111 0 0
More than ten years
19 Gross purchases 0 0 0
20 Gross sales 0 0 0
21 Maturity shifts -2,030 0 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 250 653 0
24 Gross sales 0 0 0
25 Redemptions 0 0 0
Matched transactions
26 Gross purchases 378,381 195,565 0
27 Gross sales 377,535 175,820 0
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
Reverse repurchase
agreements
30 Gross purchases 0 231,272 392,530
31 Gross sales 0 252,363 389,810
32 Net change in U.S. Treasury
securities 1,096 -693 2,720
FEDERAL AGENCY OBLIGATIONS
Outright transactions
33 Gross purchases 0 0 0
34 Gross sales 0 0 0
35 Redemptions 0 0 0
Repurchase agreements
36 Gross purchases 0 0 0
37 Gross sales 0 0 0
38 Net change in federal
agency obligations 0 0 0
TRIPARTY OBLIGATIONS
Repurchase agreements
39 Gross purchases 113,501 112,750 135,749
40 Gross sales 101,501 101,750 150,499
41 Net change in triparty
obligations 12,000 11,000 -14,750
42 Total net change in System
Open Market Account 13,096 10,307 -12,030
(1.) Sales, redemptions, and negative figures reduce holdings
of the System Open Market Account; all other figures increase
such holdings.
(2.) Transactions exclude changes in compensation for the
effects of inflation on the principal of inflation-indexed
securities. Transactions include the rollover of inflation
compensation into new securities.
Federal Reserve Banks
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve
Note Statements (1)
Millions of dollars
Wednesday
2003
Account Jan. 29 Feb. 5 Feb. 12
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,039 11,039 11,039
2 Special drawing rights
certificate account 2,200 2,200 2,200
3 Coin 1,111 1,134 1,142
4 Securities, repurchase
agreements, and loans 649,927 657,177 651,707
5 Securities held outright 629,416 629,411 630,957
6 U.S. Treasury (2) 629,406 629,401 630,947
7 Bills (3) 226,682 226,682 227,238
8 Notes and bonds,
nominal (3) 389,219 389,219 390,217
9 Notes and bonds, in-
flation-indexed (3) 12,242 12,242 12,242
10 Inflation compen-
sation (4) 1,263 1,257 1,250
11 Federal agency (3) 10 10 10
12 Repurchase agreements (5) 20,500 27,750 20,746
13 Loans 11 15 4
14 Items in process of
collection 9,250 8,959 7,829
15 Bank premises 1,543 1,539 1,541
16 Other assets 38,747 38,611 38,833
17 Denominated in foreign
currencies (6) 17,299 17,178 16,977
18 All other (7) 21,448 21,432 21,856
19 Total assets 713,818 720,659 714,292
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 642,604 644,880 648,083
21 Reverse repurchase
agreements (8) 18,466 17,986 17,604
22 Deposits 25,671 29,814 21,565
23 Depository institutions 18,327 23,756 17,707
24 U.S. Treasury, general
account 7,030 5,664 3,527
25 Foreign official 100 148 103
26 Other 214 246 228
27 Deferred availability cash
items 7,503 8,704 7,775
28 Other liabilities and
accrued dividends (9) 2,242 2,231 2,277
29 Total liabilities 696,486 703,616 697,304
CAPITAL ACCOUNTS
30 Capital paid in 8,399 8,404 8,404
31 Surplus 8,380 8,380 8,357
32 Other capital accounts 552 260 227
33 Total capital 17,332 17,043 16,988
MEMO
34 Marketable securities held
in custody for foreign
official and
international
accounts (3),(10) 858,621 868,037 872,033
35 U.S. Treasury 687,352 697,891 698,215
36 Federal agency 171,269 170,145 173,818
Federal Reserve note and
collateral statement
37 Federal Reserve notes, net
of F.R. Bank holdings 642,604 644,880 648,083
38 Collateral held against
Federal Reserve notes 642,604 644,880 648,083
39 Gold certificate account 11,039 11,039 11,039
40 Special drawing rights
certificate account 2,200 2,200 2,200
41 U.S. Treasury and agency
securities pledged (11) 629,365 631,641 634,094
42 Other eligible assets 0 0 751
MEMO
43 Total U.S. Treasury and
agency securities (11) 649,916 657,161 651,703
44 Less: face value of
securities under
reverse repurchase
agreements (12) 18,472 (r) 17,992 17,610
45 U.S. Treasury and agency
securities eligible to be
pledged 631,445 (r) 639,169 634,094
End of
Wednesday month
2003 2002
Account Feb. 19 Feb. 26 Dec.
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,039 11,039 11,039
2 Special drawing rights
certificate account 2,200 2,200 2,200
3 Coin 1,123 1,100 988
4 Securities, repurchase
agreements, and loans 665,786 661,761 668,956
5 Securities held outright 631,273 636,006 629,416
6 U.S. Treasury (2) 631,263 635,996 629,406
7 Bills (3) 227,561 230,606 226,682
8 Notes and bonds,
nominal (3) 390,217 391,913 389,219
9 Notes and bonds, in-
flation-indexed (3) 12,242 12,242 12,242
10 Inflation compen-
sation (4) 1,242 1,235 1,263
11 Federal agency (3) 10 10 10
12 Repurchase agreements (5) 34,496 25,750 39,500
13 Loans 17 6 40
14 Items in process of
collection 14,167 9,197 10,291
15 Bank premises 1,557 1,557 1,543
16 Other assets 35,548 36,130 37,031
17 Denominated in foreign
currencies (6) 17,180 17,330 16,913
18 All other (7) 18,368 18,800 20,118
19 Total assets 731,420 722,984 732,048
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 651,036 649,670 654,272
21 Reverse repurchase
agreements (8) 17,850 17,421 21,091
22 Deposits 32,828 28,898 28,249
23 Depository institutions 28,006 23,556 22,541
24 U.S. Treasury, general
account 4,407 4,950 4,420
25 Foreign official 134 154 136
26 Other 281 238 1,152
27 Deferred availability cash
items 10,040 7,296 9,459
28 Other liabilities and
accrued dividends (9) 2,249 2,276 2,217
29 Total liabilities 714,004 705,561 715,288
CAPITAL ACCOUNTS
30 Capital paid in 8,434 8,440 8,380
31 Surplus 8,380 8,380 8,380
32 Other capital accounts 603 603 0
33 Total capital 17,416 17,423 16,760
MEMO
34 Marketable securities held
in custody for foreign
official and
international
accounts (3),(10) 878,685 880,187 855,053
35 U.S. Treasury 706,434 702,807 690,003
36 Federal agency 172,250 177,380 165,050
Federal Reserve note and
collateral statement
37 Federal Reserve notes, net
of F.R. Bank holdings 651,036 649,670 654,272
38 Collateral held against
Federal Reserve notes 651,036 649,670 654,272
39 Gold certificate account 11,039 11,039 11,039
40 Special drawing rights
certificate account 2,200 2,200 2,200
41 U.S. Treasury and agency
securities pledged (11) 637,798 636,432 641,034
42 Other eligible assets 0 0 0
MEMO
43 Total U.S. Treasury and
agency securities (11) 665,769 661,756 668,916
44 Less: face value of
securities under
reverse repurchase
agreements (12) 17,856 17,427 21,098
45 U.S. Treasury and agency
securities eligible to be
pledged 647,913 644,329 647,818
End of month
2003
Account Jan. Feb.
Consolidated con-
dition statement
ASSETS
1 Gold certificate account 11,039 11,039
2 Special drawing rights
certificate account 2,200 2,200
3 Coin 1,148 1,104
4 Securities, repurchase
agreements, and loans 654,173 663,826
5 Securities held outright 629,416 636,921
6 U.S. Treasury (2) 629,406 636,911
7 Bills (3) 226,682 230,843
8 Notes and bonds,
nominal (3) 389,219 392,593
9 Notes and bonds, in-
flation-indexed (3) 12,242 12,242
10 Inflation compen-
sation (4) 1,263 1,233
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 24,750 26,900
13 Loans 7 5
14 Items in process of
collection 9,038 6,051
15 Bank premises 1,540 1,554
16 Other assets 38,225 35,745
17 Denominated in foreign
currencies (6) 17,075 17,246
18 All other (7) 21,151 18,499
19 Total assets 717,363 721,519
LIABILITIES
20 Federal Reserve notes, net
of F.R. Bank holdings 641,644 648,366
21 Reverse repurchase
agreements (8) 18,370 18,018
22 Deposits 31,982 29,446
23 Depository institutions 26,147 24,761
24 U.S. Treasury, general
account 5,509 4,268
25 Foreign official 102 224
26 Other 223 193
27 Deferred availability cash
items 5,890 5,950
28 Other liabilities and
accrued dividends (9) 2,267 2,277
29 Total liabilities 700,152 704,057
CAPITAL ACCOUNTS
30 Capital paid in 8,400 8,456
31 Surplus 8,380 8,380
32 Other capital accounts 431 626
33 Total capital 17,211 17,462
MEMO
34 Marketable securities held
in custody for foreign
official and
international
accounts (3),(10) 863,815 888,946
35 U.S. Treasury 694,983 710,187
36 Federal agency 168,832 178,759
Federal Reserve
note and colla-
teral statement
37 Federal Reserve notes, net
of F.R. Bank holdings 641,644 648,366
38 Collateral held against
Federal Reserve notes 641,644 648,366
39 Gold certificate account 11,039 11,039
40 Special drawing rights
certificate account 2,200 2,200
41 U.S. Treasury and agency
securities pledged (11) 628,405 635,128
42 Other eligible assets 0 0
MEMO
43 Total U.S. Treasury and
agency securities (11) 654,166 663,821
44 Less: face value of
securities under
reverse repurchase
agreements (12) 18,379 18,028
45 U.S. Treasury and agency
securities eligible to be
pledged 635,787 645,794
(1.) Some of the data in this table also appear in the Board's
H.4.1 (503) weekly statistical release. For ordering address,
see inside front cover.
(2.) Includes securities lent to dealers, which are fully
collateralized by other U.S. Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the effect of inflation on
the original face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized
by U.S. Treasury and federal agency securities.
(6.) Valued daily at market exchange rates.
(7.) Includes special investment account at the Federal Reserve
Bank of Chicago in Treasury bills maturing within ninety days.
(8.) Cash value of agreements, which are fully collateralized by
U.S. Treasury securities. The Federal Reserve Banks began using
these agreements on December 13, 2002.
(9.) Includes exchange-translation account reflecting the daily
revaluation at market exchange rates of foreign exchange commitments.
(10.) Includes U.S. Treasury STRIPS and other zero coupon bonds at
face value.
(11.) Includes face value of U.S. Treasury and agency securities
held outright, compensation to adjust for the effect of inflation
on the original face value of inflation-indexed securities, and
cash value of repurchase agreements.
(12.) Face value of agreements, which are fully collateralized by
U.S. Treasury securities. The Federal Reserve Banks began using
these agreements on December 13, 2002.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of
Loan and Security Holding
Millions of dollars
Wednesday
Type of holding and maturity 2003
Jan. 29 Feb. 5 Feb. 12 Feb. 19
1 Total loans 11 15 4 17
2 Within fifteen days (1) 11 13 0 17
3 Sixteen days to ninety days 0 2 4 0
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 629,406 629,401 630,947 631,263
6 Within fifteen days (1) 49,592 45,981 44,507 46,317
7 Sixteen days to ninety days 130,709 134,667 136,637 131,154
8 Ninety-one days to one year 143,207 142,243 142,780 145,010
9 One year to five years 174,818 175,434 175,832 177,990
l0 Five years to ten years 51,240 51,239 51,356 50,961
11 More than ten years 79,840 79,837 79,834 79,831
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 10 10 10 10
16 One year to five years 0 0 0 0
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
End of month
Type of holding and maturity 2003 2002 2003
Feb. 26 Dec. Jan. Feb.
1 Total loans 6 40 7 5
2 Within fifteen days (1) 6 35 6 5
3 Sixteen days to ninety days 0 5 1 0
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 635,996 629,406 629,406 636,911
6 Within fifteen days (1) 45,075 27,444 32,974 23,882
7 Sixteen days to ninety days 133,699 154,225 147,674 146,519
8 Ninety-one days to one year 146,752 141,840 142,243 147,029
9 One year to five years 178,982 172,758 175,436 187,927
l0 Five years to ten years 51,659 53,300 51,240 51,727
11 More than ten years 79,828 79,840 79,840 79,827
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 10 10 10 10
16 One year to five years 0 0 0 0
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
(1.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
Monetary and Credit Aggregates
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
AND MONETARY BASE (1)
Billions of dollars, averages of daily figures
1999 2000 2001 2002
Item Dec. Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 41.81 38.54 41.24 40.12
2 Nonborrowed reserves (4) 41.49 38.33 41.18 40.04
3 Required reserves 40.51 37.11 39.60 38.12
4 Monetary base (5) 593.14 584.72 635.56 681.77
Not seasonally adjusted
5 Total reserves (6) 41.89 38.53 41.20 40.03
6 Nonborrowed reserves 41.57 38.32 41.13 39.95
7 Required reserves (7) 40.59 37.10 39.55 38.03
8 Monetary base (8) 600.72 590.06 639.91 686.17
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.65 38.47 41.08 40.17
10 Nonborrowed reserves 41.33 38.26 41.01 40.09
11 Required reserves 40.36 37.05 39.43 38.18
12 Monetary base (11) 608.02 596.98 648.74 697.09
13 Excess reserves (12) 1.30 1.43 1.65 2.00
14 Borrowings from the Federal
Reserve .32 .21 .07 .08
2002
Item July Aug. Sept. Oct.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 39.67 39.98 39.25 39.18
2 Nonborrowed reserves (4) 39.48 39.64 39.02 39.04
3 Required reserves 38.30 38.34 37.78 37.63
4 Monetary base (5) 666.91 669.93 671.45 674.30
Not seasonally adjusted
5 Total reserves (6) 39.32 39.74 38.78 38.54
6 Nonborrowed reserves 39.13 39.41 38.55 38.40
7 Required reserves (7) 37.94 38.10 37.31 36.99
8 Monetary base (8) 668.75 669.31 669.71 671.48
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (9)
9 Total reserves (10) 39.41 39.85 38.91 38.69
10 Nonborrowed reserves 39.22 39.52 38.68 38.54
11 Required reserves 38.04 38.22 37.43 37.13
12 Monetary base (11) 678.98 679.55 679.96 681.83
13 Excess reserves (12) 1.37 1.64 1.48 1.55
14 Borrowings from the Federal
Reserve .19 .33 .23 .14
2002 2003
Item Nov. Dec. Jan. Feb.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 39.69 40.12 40.61 40.76
2 Nonborrowed reserves (4) 39.41 40.04 40.58 40.73
3 Required reserves 38.07 38.12 38.95 38.85
4 Monetary base (5) 677.52 681.77 685.59 (r) 691.28
Not seasonally adjusted
5 Total reserves (6) 38.98 40.03 42.73 41.87
6 Nonborrowed reserves 38.71 39.95 42.70 41.85
7 Required reserves (7) 37.37 38.03 41.07 39.96
8 Monetary base (8) 676.66 686.17 688.27 (r) 690.17
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (9)
9 Total reserves (10) 39.14 40.17 42.74 41.87
10 Nonborrowed reserves 38.87 40.09 42.72 41.85
11 Required reserves 37.53 38.18 41.08 39.97
12 Monetary base (11) 687.23 697.09 699.18 (r) 700.96
13 Excess reserves (12) 1.62 2.00 1.66 1.91
14 Borrowings from the Federal
Reserve .27 .08 .03 .03
(1.) Latest monthly and biweekly figures are available from the
Board's H.3 (502) weekly statistical release. Historical data
starting in 1959 and estimates of the effect on required reserves
of changes in reserve requirements are available from the Money
and Reserves Projections Section, Division of Monetary Affairs,
Board of Governors of the Federal Reserve System, Washington,
DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements.
(See also table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4)
plus excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves
equal seasonally adjusted, break-adjusted total reserves (line 1)
less total borrowings of depository institutions from the
Federal Reserve (line 17).
(5.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy
current reserve requirements.
(6.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(7.) To adjust required reserves for discontinuities that are due
to regulatory changes in reserve requirements, a multiplicative
procedure is used to estimate what required reserves would have
been in past periods had current reserve requirements been in
effect. Break-adjusted required reserves include required reserves
against transactions deposits and nonpersonal time and savings
deposits (but not reservable nondeposit liabilities).
(8.) The break-adjusted monetary base equals (1) break-adjusted
total reserves (line 6), plus (2) the (unadjusted) currency
component of the money stock, plus (3) (for all quarterly reporters
on the "Report of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds
their required reserves) the break-adjusted difference between
current vault cash and the amount applied to satisfy current reserve
requirements.
(9.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in reserve
requirements.
(10.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(11.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2)
required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the
money stock, plus (4) (for all quarterly reporters on the "Report
of Transaction Accounts, Other Deposits and Vault Cash" and for
all those weekly reporters whose vault cash exceeds their required
reserves) the difference between current vault cash and the amount
applied to satisfy current reserve requirements. Since February
1984, currency and vault cash figures have been measured over the
computation periods ending on Mondays.
(12.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK MEASURES (1)
Billions of dollars, averages of daily figures
1999 2000 2001
Item Dec. Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,121.9 1,084.9 1,173.4
2 M2 4,648.0 4,926.9 5,440.6
3 M3 6,528.6 7,090.5 7,993.5
M1 components
4 Currency (3) 517.5 531.0 581.4
5 Travelers checks (4) 8.3 8.0 7.8
6 Demand deposits (5) 352.2 306.7 325.6
7 Other checkable deposits (6) 244.0 239.2 258.8
Nontransaction components
8 In M2 (7) 3,526.0 3,842.0 4,267.1
9 In M3 only (8) 1,880.6 2,163.6 2,552.9
Commercial banks
10 Savings deposits, including
MMDAs 1,288.8 1,422.3 1,734.5
11 Small time deposits (9) 634.7 698.8 634.2
12 Large time deposits
(10),(11) 650.2 717.4 670.8
Thrift institutions
13 Savings deposits, including
MMDAs 449.6 451.7 569.0
14 Small time deposits (9) 320.3 344.4 338.7
15 Large time deposits (10) 91.0 102.9 114.9
Money market mutual funds
16 Retail 832.7 924.8 990.7
17 Institution-only 634.4 788.2 1,189.7
Repurchase agreements and
eurodollars
18 Repurchase agreements (12) 335.7 363.5 375.0
19 Eurodollars (12) 169.2 191.5 202.5
Not seasonally adjusted
Measures (2)
20 M1 1,148.3 1,112.3 1,203.5
21 M2 4,675.0 4,962.3 5,483.5
22 M3 6,571.1 7,145.0 8,065.2
M1 components
23 Currency (3) 521.5 535.2 584.9
24 Travelers checks (4) 8.4 8.1 7.9
25 Demand deposits (5) 371.8 326.5 347.6
26 Other checkable deposits (6) 246.6 242.5 263.2
Nontransaction components
27 In M2 (7) 3,526.7 3,849.9 4,280.0
28 In M3 only (8) 1,896.2 2,182.8 2,581.7
Commercial banks
29 Savings deposits, including
MMDAs 1,288.8 1,426.9 1,742.3
30 Small time deposits (9) 635.7 700.0 635.2
31 Large time deposits
(10),(11) 651.7 717.6 669.7
Thrift institutions
32 Savings deposits, including
MMDAs 449.6 453.1 571.5
33 Small time deposits (9) 320.8 345.0 339.2
34 Large time deposits (10) 91.2 103.0 114.7
Money market mutual funds
35 Retail 832.0 925.0 991.8
36 Institution-only 648.2 805.6 1,217.7
Repurchase agreements and
eurodollars
37 Repurchase agreements (12) 334.7 364.2 376.5
38 Eurodollars (12) 170.4 192.4 203.0
2002
2002
Item Dec. Nov.
Seasonally adjusted
Measures (2)
1 M1 1,210.5 1,202.7
2 M2 5,796.5 5,781.3
3 M3 8,511.1 (r) 8,458.3
M1 components
4 Currency (3) 626.7 623.0
5 Travelers checks (4) 7.5 7.5
6 Demand deposits (5) 296.4 294.0
7 Other checkable deposits (6) 279.9 278.3
Nontransaction components
8 In M2 (7) 4,586.0 4,578.6
9 In M3 only (8) 2,714.6 (r) 2,677.0
Commercial banks
10 Savings deposits, including
MMDAs 2,047.4 2,041.3
11 Small time deposits (9) 583.6 588.0
12 Large time deposits
(10),(11) 683.2 702.3
Thrift institutions
13 Savings deposits, including
MMDAs 710.3 697.7
14 Small time deposits (9) 300.3 (r) 301.0
15 Large time deposits (10) 116.7 115.2
Money market mutual funds
16 Retail 944.3 950.6
17 Institution-only 1,233.0 1,207.8
Repurchase agreements and
eurodollars
18 Repurchase agreements (12) 468.6 440.1
19 Eurodollars (12) 213.0 (r) 211.6
Not seasonally
adjusted
Measures (2)
20 M1 1,240.4 1,201.4
21 M2 5,845.8 5,795.8
22 M3 8,588.6 (r) 8,474.1 (r)
M1 components
23 Currency (3) 629.9 622.6
24 Travelers checks (4) 7.7 7.6
25 Demand deposits (5) 316.8 296.1
26 Other checkable deposits (6) 286.0 275.0 (r)
Nontransaction components
27 In M2 (7) 4,605.4 4,594.4
28 In M3 only (8) 2,742.8 (r) 2,678.3
Commercial banks
29 Savings deposits, including
MMDAs 2,060.0 (r) 2,054.5
30 Small time deposits (9) 584.3 589.4
31 Large time deposits
(10),(11) 681.6 704.5
Thrift institutions
32 Savings deposits, including
MMDAs 714.7 702.2
33 Small time deposits (9) 300.7 301.7
34 Large time deposits (10) 116.4 115.5
Money market mutual funds
35 Retail 945.8 946.6
36 Institution-only 1,260.8 1,211.8
Repurchase agreements and
eurodollars
37 Repurchase agreements (12) 470.4 435.5
38 Eurodollars (12) 213.6 211.0
2002 2003
Item Dec. Jan. Feb.
Seasonally adjusted
Measures (2)
1 M1 1,210.5 1,212.2 (r) 1,231.7
2 M2 5,796.5 5,825.7 (r) 5,880.0
3 M3 8,511.1 (r) 8,506.0 (r) 8,560.7
M1 components
4 Currency (3) 626.7 630.2 635.3
5 Travelers checks (4) 7.5 7.6 7.6
6 Demand deposits (5) 296.4 295.4 305.2
7 Other checkable deposits (6) 279.9 279.1 283.6
Nontransaction components
8 In M2 (7) 4,586.0 4,613.5 4,648.3
9 In M3 only (8) 2,714.6 (r) 2,680.2 (r) 2,680.7
Commercial banks
10 Savings deposits, including
MMDAs 2,047.4 2,079.1 2,106.4
11 Small time deposits (9) 583.6 579.7 575.6
12 Large time deposits
(10),(11) 683.2 691.5 (r) 702.1
Thrift institutions
13 Savings deposits, including
MMDAs 710.3 722.9 739.1
14 Small time deposits (9) 300.3 (r) 299.0 (r) 297.3
15 Large time deposits (10) 116.7 118.0 118.2
Money market mutual funds
16 Retail 944.3 932.8 929.9
17 Institution-only 1,233.0 1,196.7 1,176.7
Repurchase agreements and
eurodollars
18 Repurchase agreements (12) 468.6 459.3 472.3
19 Eurodollars (12) 213.0 (r) 214.8 (r) 211.4
Not seasonally adjusted
Measures (2)
20 M1 1,240.4 1,219.3 1,217.6
21 M2 5,845.8 5,834.8 5,862.3
22 M3 8,588.6 (r) 8,549.9 (r) 8,590.4
M1 components
23 Currency (3) 629.9 628.0 (r) 634.4
24 Travelers checks (4) 7.7 7.7 7.7
25 Demand deposits (5) 316.8 300.1 296.7
26 Other checkable deposits (6) 286.0 283.4 278.8
Nontransaction components
27 In M2 (7) 4,605.4 4,615.4 (r) 4,644.8
28 In M3 only (8) 2,742.8 (r) 2,715.2 (r) 2,728.0
Commercial banks
29 Savings deposits, including
MMDAs 2,060.0 (r) 2,074.5 (r) 2,095.5
30 Small time deposits (9) 584.3 579.8 575.4
31 Large time deposits
(10),(11) 681.6 685.8 (r) 698.2
Thrift institutions
32 Savings deposits, including
MMDAs 714.7 721.3 735.3
33 Small time deposits (9) 300.7 299.1 297.2
34 Large time deposits (10) 116.4 117.0 117.5
Money market mutual funds
35 Retail 945.8 940.8 941.3
36 Institution-only 1,260.8 1,234.0 1,214.1
Repurchase agreements and
eurodollars
37 Repurchase agreements (12) 470.4 462.8 483.4
38 Eurodollars (12) 213.6 (r) 215.6 (r) 214.7
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section, Division
of Monetary Affairs, Board of Governors of the Federal Reserve System,
Washington, DC 20551.
(2.) Composition of the money stock measures is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by 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.
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks
of nonbank issuers. Travelers checks issued by depository institutions
are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the U.S.
government, and foreign banks and official institutions, less cash
items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(12.) Includes both overnight and term.
Commercial Banking Industries--Assets and Liabilities
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
2002 2002
Sept.
Account Feb. Aug. (r)
Seasonally adjusted
Assets
1 Bank credit 5,439.9 5,672.8 5,730.1
2 Securities in bank credit 1,488.5 1,632.9 1,643.5
3 U.S. government
securities 832.6 (r) 946.1 (r) 962.8
4 Other securities 655.9 (r) 686.8 (r) 680.8
5 Loans and leases in bank
credit (2) 3,950.4 4,039.9 4,086.5
6 Commercial and
industrial 1,028.8 981.3 (r) 974.6
7 Real estate 1,789.2 1,902.0 (r) 1,936.4
8 Revolving home equity 162.2 197.7 200.9
9 Other 1,627.0 1,704.3 (r) 1,735.5
10 Consumer 564.4 574.7 582.7
11 Security (3) 153.4 176.7 181.4
12 Other loans and leases 414.6 405.2 (r) 411.5
13 Interbank loans 278.3 305.6 318.3
14 Cash assets (4) 297.6 318.1 317.2
15 Other assets (5) 489.3 (r) 499.8 (r) 499.0
16 Total assets (6) 6,428.6 (r) 6,721.3 (r) 6,789.6
Liabilities
17 Deposits 4,268.1 4,460.5 4,473.5
18 Transaction 624.9 599.1 584.0
19 Nontransaction 3,643.2 3,861.4 3,889.5
20 Large time 1,011.5 1,049.2 1,043.3
21 Other 2,631.7 2,812.2 2,846.2
22 Borrowings 1,231.7 1,292.7 1,322.3
23 From banks in the U.S. 393.9 (r) 404.9 (r) 416.0
24 From others 837.7 (r) 887.8 (r) 906.2
25 Net due to related foreign
offices 109.5 94.1 100.3
26 Other liabilities 338.9 430.4 435.4
27 Total liabilities 5,948.2 6,277.7 6,331.4
28 Residual (assets less
liabilities) (7) 480.4 (r) 443.6 (r) 458.2
Not seasonally adjusted
Assets
29 Bank credit 5,444.1 5,650.4 5,723.2
30 Securities in bank credit 1,496.0 1,624.3 1,639.8
31 U.S. government
securities 839.6 (r) 939.8 (r) 959.3
32 Other securities 656.4 (r) 684.5 (r) 680.5
33 Loans and leases in bank
credit (2) 3,948.1 4,026.1 4,083.4
34 Commercial and
industrial 1,027.7 975.8 (r) 972.4
35 Real estate 1,784.0 1,903.0 (r) 1,938.5
36 Revolving home equity 162.2 197.8 201.9
37 Other 1,621.9 1,705.3 (r) 1,736.6
38 Consumer 566.7 571.2 582.2
39 Credit cards and
related plans 223.6 224.4 231.2
40 Other 343.2 346.8 351.0
41 Security (3) 155.1 172.2 179.6
42 Other loans and leases 414.5 403.8 (r) 410.7
43 Interbank loans 277.0 299.2 310.5
44 Cash assets (4) 298.9 303.8 314.1
45 Other assets (5) 488.3 (r) 497.2 (r) 501.5
46 Total assets (6) 6,432.5 (r) 6,675.4 (r) 6,774.1
Liabilities
47 Deposits 4,284.0 4,413.7 4,441.4
48 Transaction 619.7 583.8 577.8
49 Nontransaction 3,664.3 3,829.9 3,863.6
50 Large time 1,018.7 1,033.5 1,028.7
51 Other 2,645.7 2,796.4 2,834.9
52 Borrowings 1,234.6 1,272.6 1,319.7
53 From banks in the U.S. 398.9 (r) 399.7 (r) 409.2
54 From others 835.7 (r) 872.9 (r) 910.5
55 Net due to related foreign
offices 116.2 91.1 100.9
56 Other liabilities 344.0 427.6 435.5
57 Total liabilities 5,978.8 6,205.0 6,297.5
58 Residual (assets less
liabilities) (7) 453.7 (r) 470.4 (r) 476.6
Monthly averages
2002
Oct. Nov. Dec.
Account (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 5,759.9 5,837.8 5,886.6
2 Securities in bank credit 1,643.8 1,688.6 1,715.1
3 U.S. government
securities 972.4 1,001.6 1,012.6
4 Other securities 671.4 687.0 702.5
5 Loans and leases in bank
credit (2) 4,116.4 4,149.2 4,171.5
6 Commercial and
industrial 968.2 966.1 964.1
7 Real estate 1,968.3 2,000.3 2,021.0
8 Revolving home equity 204.9 207.8 212.4
9 Other 1,763.4 1,792.6 1,808.5
10 Consumer 584.5 585.0 586.1
11 Security (3) 183.1 186.6 191.6
12 Other loans and leases 412.0 411.1 408.7
13 Interbank loans 326.8 328.4 331.5
14 Cash assets (4) 318.4 314.8 317.7
15 Other assets (5) 512.4 518.4 518.1
16 Total assets (6) 6,842.1 6,923.7 6,978.2
Liabilities
17 Deposits 4,483.0 4,500.2 4,484.2
18 Transaction 611.3 606.1 613.8
19 Nontransaction 3,871.8 3,894.1 3,870.4
20 Large time 1,020.0 1,002.3 977.9
21 Other 2,851.7 2,891.8 2,892.5
22 Borrowings 1,332.9 1,365.2 1,397.3
23 From banks in the U.S. 414.9 420.6 415.8
24 From others 918.0 944.5 981.6
25 Net due to related foreign
offices 119.4 122.3 150.3
26 Other liabilities 440.0 444.4 453.7
27 Total liabilities 6,375.3 6,432.1 6,485.5
28 Residual (assets less
liabilities) (7) 466.8 491.6 492.7
Not seasonally adjusted
Assets
29 Bank credit 5,763.9 5,854.4 5,923.5
30 Securities in bank credit 1,643.1 1,692.8 1,724.1
31 U.S. government
securities 968.6 1,002.5 1,018.3
32 Other securities 674.5 690.4 705.8
33 Loans and leases in bank
credit (2) 4,120.8 4,161.6 4,199.3
34 Commercial and
industrial 969.4 967.4 963.9
35 Real estate 1,970.5 2,005.4 2,025.8
36 Revolving home equity 205.5 208.5 212.6
37 Other 1,765.0 1,796.9 1,813.2
38 Consumer 585.1 587.5 596.1
39 Credit cards and
related plans 232.1 231.5 238.5
40 Other 353.0 356.0 357.7
41 Security (3) 185.5 190.3 200.5
42 Other loans and leases 410.3 410.9 413.0
43 Interbank loans 321.5 332.3 338.4
44 Cash assets (4) 320.7 324.7 338.4
45 Other assets (5) 511.1 519.6 521.5
46 Total assets (6) 6,842.1 6,955.1 7,045.9
Liabilities
47 Deposits 4,467.9 4,520.0 4,533.9
48 Transaction 606.1 611.7 641.3
49 Nontransaction 3,861.8 3,908.3 3,892.6
50 Large time 1,013.9 1,009.3 991.8
51 Other 2,847.9 2,899.0 2,900.7
52 Borrowings 1,334.9 1,368.3 1,397.0
53 From banks in the U.S. 413.1 417.8 417.2
54 From others 921.7 950.5 979.7
55 Net due to related foreign
offices 118.7 125.9 156.7
56 Other liabilities 440.1 450.1 460.8
57 Total liabilities 6,361.6 6,464.3 6,548.4
58 Residual (assets less
liabilities) (7) 480.5 490.8 497.5
Wednesday
Monthly averages figures
2003 2003
Jan.
Account (r) Feb. Feb. 5
Seasonally adjusted
Assets
1 Bank credit 5,892.3 5,970.8 5,936.8
2 Securities in bank credit 1,722.4 1,768.8 1,745.6
3 U.S. government
securities 1,013.3 1,037.9 1,028.1
4 Other securities 709.1 730.9 717.5
5 Loans and leases in bank
credit (2) 4,169.9 4,202.0 4,191.1
6 Commercial and
industrial 958.9 952.3 952.6
7 Real estate 2,039.0 2,069.4 2,062.3
8 Revolving home equity 216.9 222.1 220.3
9 Other 1,822.1 1,847.3 1,842.0
10 Consumer 591.7 593.9 592.7
11 Security (3) 176.8 184.0 177.6
12 Other loans and leases 403.5 402.4 405.8
13 Interbank loans 309.4 306.3 312.1
14 Cash assets (4) 314.4 315.0 322.9
15 Other assets (5) 517.3 539.9 539.3
16 Total assets (6) 6,956.6 7,054.9 7,034.3
Liabilities
17 Deposits 4,503.2 4,534.2 4,547.6
18 Transaction 606.1 607.0 588.1
19 Nontransaction 3,897.1 3,927.2 3,959.5
20 Large time 988.0 1,002.4 1,007.5
21 Other 2,909.1 2,924.8 2,952.0
22 Borrowings 1,335.3 1,370.5 1,365.8
23 From banks in the U.S. 378.5 383.4 391.3
24 From others 956.8 987.1 974.5
25 Net due to related foreign
offices 151.4 142.5 142.2
26 Other liabilities 460.1 476.6 454.0
27 Total liabilities 6,450.0 6,523.8 6,509.6
28 Residual (assets less
liabilities) (7) 506.5 531.2 524.7
Not seasonally adjusted
Assets
29 Bank credit 5,912.0 5,977.3 5,951.9
30 Securities in bank credit 1,732.4 1,778.4 1,756.7
31 U.S. government
securities 1,019.6 1,046.9 1,037.5
32 Other securities 712.7 731.5 719.1
33 Loans and leases in bank
credit (2) 4,179.6 4,198.9 4,195.3
34 Commercial and
industrial 954.8 951.1 950.1
35 Real estate 2,038.1 2,063.5 2,059.0
36 Revolving home equity 216.6 222.0 220.3
37 Other 1,821.5 1,841.4 1,838.7
38 Consumer 600.1 596.7 597.5
39 Credit cards and
related plans 235.4 228.6 226.0
40 Other 364.7 368.1 371.6
41 Security (3) 182.5 186.9 183.5
42 Other loans and leases 404.3 400.7 405.1
43 Interbank loans 307.2 305.2 312.7
44 Cash assets (4) 328.0 316.0 317.3
45 Other assets (5) 519.3 539.1 541.8
46 Total assets (6) 6,989.9 7,060.2 7,046.7
Liabilities
47 Deposits 4,527.6 4,551.8 4,570.6
48 Transaction 618.4 602.0 583.0
49 Nontransaction 3,909.2 3,949.8 3,987.6
50 Large time 1,000.1 1,009.3 1,017.3
51 Other 2,909.1 2,940.5 2,970.4
52 Borrowings 1,348.4 1,373.2 1,374.5
53 From banks in the U.S. 383.2 388.3 396.4
54 From others 965.2 984.9 978.1
55 Net due to related foreign
offices 158.8 149.3 147.4
56 Other liabilities 468.4 484.3 460.3
57 Total liabilities 6,503.3 6,558.5 6,552.7
58 Residual (assets less
liabilities) (7) 486.6 501.7 494.0
Wednesday figures
2003
Account Feb. 12 Feb. 19 Feb. 26
Seasonally adjusted
Assets
1 Bank credit 5,958.2 5,971.3 5,992.1
2 Securities in bank credit 1,756.3 1,770.4 1,784.0
3 U.S. government
securities 1,029.1 1,038.8 1,047.4
4 Other securities 727.2 731.5 736.6
5 Loans and leases in bank
credit (2) 4,201.9 4,200.9 4,208.1
6 Commercial and
industrial 952.0 954.1 951.5
7 Real estate 2,074.4 2,065.2 2,070.1
8 Revolving home equity 220.6 222.2 223.9
9 Other 1,853.8 1,843.0 1,846.2
10 Consumer 592.2 596.6 594.7
11 Security (3) 182.0 183.7 189.1
12 Other loans and leases 401.3 401.4 402.7
13 Interbank loans 291.7 308.7 311.9
14 Cash assets (4) 310.1 320.0 306.8
15 Other assets (5) 548.1 544.7 529.7
16 Total assets (6) 7,031.4 7,067.3 7,067.1
Liabilities
17 Deposits 4,522.9 4,534.8 4,521.9
18 Transaction 587.9 621.7 627.4
19 Nontransaction 3,934.9 3,913.1 3,894.6
20 Large time 999.3 1,001.0 1,001.4
21 Other 2,935.6 2,912.1 2,893.2
22 Borrowings 1,349.2 1,361.9 1,398.1
23 From banks in the U.S. 371.5 380.0 390.5
24 From others 977.6 981.8 1,007.5
25 Net due to related foreign
offices 153.0 150.6 129.8
26 Other liabilities 475.6 485.8 477.7
27 Total liabilities 6,500.6 6,533.1 6,527.5
28 Residual (assets less
liabilities) (7) 530.7 534.3 535.6
Not seasonally adjusted
Assets
29 Bank credit 5,967.9 5,971.6 5,993.7
30 Securities in bank credit 1,765.0 1,779.9 1,792.3
31 U.S. government
securities 1,037.7 1,047.6 1,055.6
32 Other securities 727.3 732.3 736.7
33 Loans and leases in bank
credit (2) 4,202.9 4,191.7 4,201.4
34 Commercial and
industrial 950.2 952.8 950.8
35 Real estate 2,071.9 2,057.7 2,061.1
36 Revolving home equity 221.0 222.3 2,235.0
37 Other 1,850.9 1,835.4 1,837.6
38 Consumer 595.8 599.3 596.5
39 Credit cards and
related plans 224.8 232.0 231.5
40 Other 371.0 367.3 365.0
41 Security (3) 185.9 182.3 192.9
42 Other loans and leases 399.1 399.5 400.1
43 Interbank loans 291.7 305.2 306.9
44 Cash assets (4) 302.5 336.1 308.4
45 Other assets (5) 548.5 541.1 526.7
46 Total assets (6) 7,033.6 7,076.4 7,058.2
Liabilities
47 Deposits 4,542.4 4,554.8 4,528.8
48 Transaction 577.2 623.5 620.6
49 Nontransaction 3,965.2 3,931.3 3,908.2
50 Large time 1,008.7 1,005.6 1,007.0
51 Other 2,956.5 2,925.8 2,901.2
52 Borrowings 1,350.9 1,367.5 1,394.3
53 From banks in the U.S. 376.0 385.9 394.4
54 From others 974.9 981.6 999.9
55 Net due to related foreign
offices 159.3 157.6 139.2
56 Other liabilities 482.6 494.0 488.2
57 Total liabilities 6,535.2 6,573.9 6,550.5
58 Residual (assets less
liabilities) (7) 498.4 502.5 507.7
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2002 2002
Account Feb. Aug.
Seasonally adjusted
Assets
1 Bank credit 4,846.7 5,051.9
2 Securities in bank credit 1,255.0 1,383.0
3 U.S. government
securities 763.2 (r) 864.3 (r)
4 Other securities 491.8 (r) 518.7 (r)
5 Loans and leases in bank
credit (2) 3,591.8 3,668.9
6 Commercial and
industrial 830.6 791.4 (r)
7 Real estate 1,771.8 1,883.2 (r)
8 Revolving home equity 162.2 197.7 (r)
9 Other 1,609.6 1,685.5 (r)
10 Consumer 564.4 574.7
11 Security (3) 78.5 86.2
12 Other loans and leases 346.5 333.5 (r)
13 Interbank loans 258.1 287.1
14 Cash assets (4) 255.3 271.6
15 Other assets (5) 459.7 (r) 470.8 (r)
16 Total assets (6) 5,744.8 (r) 6,006.8 (r)
Liabilities
17 Deposits 3,797.8 3,965.5
18 Transaction 614.7 589.1
19 Nontransaction 3,183.1 3,376.4
20 Large time 553.7 569.9
21 Other 2,629.5 2,806.5
22 Borrowings 1,043.0 1,078.9
23 From banks in the U.S. 371.9 (r) 383.2 (r)
24 From others 671.2 (r) 695.7 (r)
25 Net due to related foreign
offices 170.0 179.7
26 Other liabilities 259.3 333.6
27 Total liabilities 5,270.1 5,557.7
28 Residual (assets less
liabilities) (7) 474.7 (r) 449.2 (r)
Not seasonally adjusted
Assets
29 Bank credit 4,847.9 5,035.6
30 Securities in bank credit 1,262.5 1,374.3
31 U.S. government
securities 770.2 (r) 858.0 (r)
32 Other securities 492.2 (r) 516.3 (r)
33 Loans and leases in bank
credit (2) 3,585.4 3,661.3
34 Commercial and
industrial 827.9 787.5 (r)
35 Real estate 1,766.7 1,884.3 (r)
36 Revolving home equity 162.2 197.8
37 Other 1,604.5 1,686.5 (r)
38 Consumer 566.7 571.2
39 Credit cards and
related plans 223.6 224.4
40 Other 343.2 346.8
41 Security (3) 77.8 85.0
42 Other loans and leases 346.3 333.4 (r)
43 Interbank loans 256.8 280.7
44 Cash assets (4) 255.6 258.7
45 Other assets (5) 458.2 (r) 468.6 (r)
46 Total assets (6) 5,743.2 (r) 5,968.9 (r)
Liabilities
47 Deposits 3,808.3 3,933.0
48 Transaction 609.3 574.0
49 Nontransaction 3,199.0 3,359.1
50 Large time 555.6 568.3
51 Other 2,643.4 2,790.8
52 Borrowings 1,045.9 1,058.8
53 From banks in the U.S. 376.9 (r) 378.1 (r)
54 From others 669.0 (r) 680.8 (r)
55 Net due to related foreign
offices 173.8 178.7
56 Other liabilities 263.2 332.0
57 Total liabilities 5,291.2 (r) 5,502.6
58 Residual (assets less
liabilities) (7) 452.0 (r) 466.3 (r)
Monthly averages
Oct. Nov.
Account Sept. (r) (r)
Seasonally adjusted
Assets
1 Bank credit 5,111.3 5,145.6 5,216.8
2 Securities in bank credit 1,396.0 1,398.3 1,439.3
3 U.S. government
securities 876.1 (r) 883.5 908.7
4 Other securities 520.1 (r) 514.7 530.7
5 Loans and leases in bank
credit (2) 3,715.3 3,747.3 3,777.5
6 Commercial and
industrial 789.1 (r) 787.0 787.1
7 Real estate 1,917.4 (r) 1,948.8 1,980.5
8 Revolving home equity 200.9 204.9 207.8
9 Other 1,716.5 (r) 1,743.9 1,772.7
10 Consumer 582.7 584.5 585.0
11 Security (3) 86.7 86.0 81.5
12 Other loans and leases 339.5 (r) 341.0 343.3
13 Interbank loans 296.7 (r) 301.9 301.8
14 Cash assets (4) 271.2 273.3 274.1
15 Other assets (5) 470.5 (r) 477.3 480.4
16 Total assets (6) 6,075.1 (r) 6,123.1 6,197.8
Liabilities
17 Deposits 3,987.4 4,016.7 4,051.7
18 Transaction 573.9 601.5 596.6
19 Nontransaction 3,413.5 3,415.1 3,455.0
20 Large time 573.3 571.3 571.6
21 Other 2,840.2 2,843.8 2,883.5
22 Borrowings 1,098.2 1,099.0 1,110.6
23 From banks in the U.S. 393.3 (r) 391.7 395.1
24 From others 704.9 (r) 707.3 715.5
25 Net due to related foreign
offices 184.1 191.9 196.8
26 Other liabilities 342.7 340.3 345.3
27 Total liabilities 5,612.4 5,647.9 5,704.4
28 Residual (assets less
liabilities) (7) 462.7 (r) 475.2 493.4
Not seasonally adjusted
Assets
29 Bank credit 5,107.8 5,149.6 5,230.7
30 Securities in bank credit 1,392.3 1,397.6 1,443.6
31 U.S. government
securities 872.6 (r) 879.7 909.5
32 Other securities 519.7 (r) 517.9 534.1
33 Loans and leases in bank
credit (2) 3,715.5 3,752.0 3,787.1
34 Commercial and
industrial 787.1 (r) 787.6 786.9
35 Real estate 1,919.5 (r) 1,950.9 1,985.6
36 Revolving home equity 201.9 205.5 208.5
37 Other 1,717.6 (r) 1,745.5 1,777.1
38 Consumer 582.2 585.1 587.5
39 Credit cards and
related plans 231.2 232.1 231.5
40 Other 351.0 353.0 356.0
41 Security (3) 87.7 88.3 83.9
42 Other loans and leases 339.1 (r) 340.1 343.1
43 Interbank loans 288.8 296.5 305.7
44 Cash assets (4) 268.0 274.7 281.6
45 Other assets (5) 472.5 (r) 476.6 481.8
46 Total assets (6) 6,062.3 (r) 6,122.8 6,224.3
Liabilities
47 Deposits 3,967.4 4,009.0 4,067.9
48 Transaction 567.6 596.2 602.1
49 Nontransaction 3,399.9 (r) 3,412.7 3,465.8
50 Large time 570.7 572.5 575.1
51 Other 2,829.1 2,840.2 2,890.7
52 Borrowings 1,095.6 1,101.0 1,113.7
53 From banks in the U.S. 386.5 (r) 390.0 392.3
54 From others 709.1 (r) 711.0 721.4
55 Net due to related foreign
offices 183.6 192.5 201.5
56 Other liabilities 342.2 341.2 351.7
57 Total liabilities 5,588.8 5,643.7 5,734.8
58 Residual (assets less
liabilities) (7) 473.5 (r) 479.1 489.5
Monthly averages
Dec. Jan.
Account (r) (r) Feb.
Seasonally adjusted
Assets
1 Bank credit 5,251.9 5,267.4 5,334.0
2 Securities in bank credit 1,451.2 1,456.9 1,492.8
3 U.S. government
securities 911.6 911.9 931.7
4 Other securities 539.6 545.0 561.1
5 Loans and leases in bank
credit (2) 3,800.7 3,810.5 3,841.2
6 Commercial and
industrial 786.0 784.0 780.9
7 Real estate 2,001.6 2,020.2 2,051.5
8 Revolving home equity 212.4 216.9 222.1
9 Other 1,789.1 1,803.3 1,829.4
10 Consumer 586.1 591.7 593.9
11 Security (3) 81.4 71.4 72.9
12 Other loans and leases 345.6 343.2 342.0
13 Interbank loans 299.7 278.5 275.4
14 Cash assets (4) 275.2 276.5 279.2
15 Other assets (5) 476.9 470.6 492.2
16 Total assets (6) 6,228.4 6,216.6 6,304.2
Liabilities
17 Deposits 4,060.2 4,071.2 4,087.3
18 Transaction 604.3 596.3 597.2
19 Nontransaction 3,455.9 3,474.9 3,490.1
20 Large time 570.3 580.4 586.2
21 Other 2,885.5 2,894.5 2,903.9
22 Borrowings 1,114.4 1,057.4 1,087.2
23 From banks in the U.S. 385.9 347.3 351.9
24 From others 728.5 710.1 735.3
25 Net due to related foreign
offices 211.4 223.2 224.1
26 Other liabilities 353.8 363.2 377.8
27 Total liabilities 5,739.7 5,715.0 5,776.4
28 Residual (assets less
liabilities) (7) 488.7 501.6 527.7
Not seasonally adjusted
Assets
29 Bank credit 5,279.7 5,279.9 5,335.4
30 Securities in bank credit 1,460.2 1,466.9 1,502.4
31 U.S. government
securities 917.3 918.2 940.7
32 Other securities 542.9 548.7 561.6
33 Loans and leases in bank
credit (2) 3,819.5 3,813.0 3,833.1
34 Commercial and
industrial 784.3 779.2 778.3
35 Real estate 2,006.4 2,019.3 2,045.6
36 Revolving home equity 212.6 216.6 222.0
37 Other 1,793.8 1,802.7 1,823.5
38 Consumer 596.1 600.1 596.7
39 Credit cards and
related plans 238.5 235.4 228.6
40 Other 357.7 364.7 368.1
41 Security (3) 84.4 71.2 72.3
42 Other loans and leases 348.2 343.3 340.2
43 Interbank loans 306.6 276.3 274.3
44 Cash assets (4) 293.3 288.0 279.4
45 Other assets (5) 479.2 471.4 490.5
46 Total assets (6) 6,283.3 6,239.5 6,302.7
Liabilities
47 Deposits 4,098.2 4,085.7 4,099.8
48 Transaction 631.2 608.4 592.1
49 Nontransaction 3,467.0 3,477.3 3,507.7
50 Large time 573.4 583.1 588.3
51 Other 2,893.6 2,894.2 2,919.3
52 Borrowings 1,114.0 1,070.6 1,089.9
53 From banks in the U.S. 387.3 352.1 356.8
54 From others 726.7 718.5 733.1
55 Net due to related foreign
offices 215.6 228.1 228.8
56 Other liabilities 359.4 369.8 384.0
57 Total liabilities 5,787.2 5,754.3 5,802.4
58 Residual (assets less
liabilities) (7) 496.1 485.3 500.3
Wednesday figures
2003
Account Feb. 5 Feb. 12 Feb. 19 Feb. 26
Seasonally adjusted
Assets
1 Bank credit 5,304.1 5,324.5 5,337.0 5,351.9
2 Securities in bank credit 1,471.2 1,480.2 1,495.6 1,508.5
3 U.S. government
securities 923.1 923.1 933.5 940.3
4 Other securities 548.1 557.1 562.1 568.1
5 Loans and leases in bank
credit (2) 3,832.9 3,844.3 3,841.4 3,843.5
6 Commercial and
industrial 780.4 780.5 782.4 780.5
7 Real estate 2,044.4 2,056.5 2,047.4 2,052.1
8 Revolving home equity 220.3 220.6 222.2 223.9
9 Other 1,824.2 1,835.9 1,825.2 1,828.2
10 Consumer 592.7 592.2 596.6 594.7
11 Security (3) 70.5 73.7 73.8 73.7
12 Other loans and leases 344.9 341.3 341.2 342.5
13 Interbank loans 283.0 260.9 278.3 279.6
14 Cash assets (4) 286.7 274.8 284.1 270.9
15 Other assets (5) 489.5 499.8 498.1 482.5
16 Total assets (6) 6,287.0 6,283.8 6,320.6 6,307.9
Liabilities
17 Deposits 4,096.9 4,077.8 4,093.6 4,072.6
18 Transaction 578.7 578.5 612.2 617.4
19 Nontransaction 3,518.3 3,499.3 3,481.4 3,455.2
20 Large time 588.8 584.5 588.1 583.7
21 Other 2,929.5 2,914.8 2,893.3 2,871.5
22 Borrowings 1,089.8 1,070.0 1,088.3 1,100.8
23 From banks in the U.S. 361.5 347.4 348.3 352.3
24 From others 728.2 722.6 740.0 748.5
25 Net due to related foreign
offices 218.7 227.4 227.3 225.2
26 Other liabilities 356.7 380.1 381.9 380.4
27 Total liabilities 5,762.1 5,755.2 5,791.1 5,779.0
28 Residual (assets less
liabilities) (7) 524.9 528.6 529.5 528.9
Not seasonally adjusted
Assets
29 Bank credit 5,311.7 5,327.1 5,335.7 5,348.4
30 Securities in bank credit 1,482.2 1,489.0 1,505.1 1,516.8
31 U.S. government
securities 932.5 931.7 942.2 948.6
32 Other securities 549.7 557.3 562.9 568.2
33 Loans and leases in bank
credit (2) 3,829.5 3,838.1 3,830.6 3,831.6
34 Commercial and
industrial 777.5 777.3 779.5 778.4
35 Real estate 2,041.1 2,054.0 2,039.9 2,043.1
36 Revolving home equity 220.3 221.0 222.3 223.5
37 Other 1,820.8 1,832.9 1,817.6 1,819.6
38 Consumer 597.5 595.8 599.3 596.5
39 Credit cards and
related plans 226.0 224.8 232.0 231.5
40 Other 371.6 371.0 367.3 365.0
41 Security (3) 69.6 72.2 72.3 73.6
42 Other loans and leases 343.7 338.9 339.6 340.0
43 Interbank loans 283.6 260.9 274.9 274.7
44 Cash assets (4) 279.9 266.1 299.4 272.1
45 Other assets (5) 490.6 499.1 494.3 478.8
46 Total assets (6) 6,289.1 6,276.6 6,327.1 6,296.9
Liabilities
47 Deposits 4,112.4 4,090.8 4,110.6 4,074.1
48 Transaction 573.4 567.6 613.6 610.5
49 Nontransaction 3,539.0 3,523.2 3,497.0 3,463.5
50 Large time 591.5 587.8 590.1 584.3
51 Other 2,947.4 2,935.4 2,906.9 2,879.2
52 Borrowings 1,098.5 1,071.7 1,093.9 1,097.0
53 From banks in the U.S. 366.6 351.8 354.1 356.1
54 From others 731.9 719.9 739.8 740.9
55 Net due to related foreign
offices 223.1 231.5 232.5 231.1
56 Other liabilities 362.5 385.5 388.9 388.4
57 Total liabilities 5,796.5 5,779.5 5,825.9 5,790.6
58 Residual (assets less
liabilities) (7) 492.6 497.1 501.1 506.3
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2002 2002
Feb. Aug.
Seasonally adjusted
Assets
1 Bank credit 2,628.1 (r) 2,724.9 (r)
2 Securities in bank
credit 631.0 736.9
3 U.S. government
securities 360.9 (r) 427.5 (r)
4 Trading account 33.6 48.0
5 Investment account 327.3 (r) 379.5 (r)
6 Other securities 270.1 (r) 309.4 (r)
7 Trading account 130.0 174.5
8 Investment account 140.2 (r) 135.0 (r)
9 State and local
government 27.8 28.0
10 Other 112.4 (r) 106.9 (r)
11 Loans and leases in bank
credit (2) 1,997.0 (r) 1,988.0 (r)
12 Commercial and
industrial 528.7 487.7
13 Bankers acceptances .0 .0
14 Other 528.7 487.7
15 Real estate 855.2 902.2 (r)
16 Revolving home
equity 101.9 124.6
17 Other 753.4 777.7 (r)
18 Consumer 293.8 (r) 289.7 (r)
19 Security (3) 70.7 78.2
20 Federal funds sold
to and repurchase
agreements with
broker-dealers 57.6 66.3
21 Other 13.1 11.9
22 State and local
government 13.8 12.9
23 Agricultural 9.6 8.2
24 Federal funds sold to
and repurchase
agreements with
others 23.3 16.6
25 All other loans 70.5 66.4 (r)
26 Lease-financing
receivables 131.3 126.1
27 Interbank loans 158.8 176.5
28 Federal funds sold to
and repurchase
agreements with
commercial banks 85.2 86.8
29 Other 73.5 89.7
30 Cash assets (4) 143.4 146.9
31 Other assets (5) 318.5 (r) 325.6 (r)
32 Total assets (6) 3,204.0 (r) 3,330.7 (r)
Liabilities
33 Deposits 1,804.2 1,872.9
34 Transaction 311.1 282.4
35 Nontransaction 1,493.1 1,590.5
36 Large time 252.0 268.3
37 Other 1,241.1 1,322.1
38 Borrowings 711.0 720.6
39 From banks in the U.S. 251.3 251.3
40 From others 459.7 469.3
41 Net due to related foreign
offices 159.1 171.2
42 Other liabilities 199.3 267.3
43 Total liabilities 2,873.6 3,032.0
44 Residual (assets less
liabilities) (7) 330.5 298.6 (r)
Not seasonally adjusted
Assets
45 Bank credit 2,632.9 (r) 2,711.6 (r)
46 Securities in bank
credit 636.8 730.6
47 U.S. government
securities 366.2 (r) 423.5 (r)
48 Trading account 34.1 47.6
49 Investment account 332.1 (r) 375.9 (r)
50 Mortgage-backed
securities 258.3 304.7
51 Other 73.7 (r) 71.3 (r)
52 One year or less 17.1 (r) 17.2 (r)
53 One to five
years 44.5 42.2
54 More than five
years 12.1 11.8
55 Other securities 270.6 (r) 307.1 (r)
56 Trading account 130.2 173.1
57 Investment account 140.4 (r) 133.9 (r)
58 State and local
government 27.8 27.8
59 Other 112.6 (r) 106.1 (r)
60 Loans and leases in bank
credit (2) 1,996.1 (r) 1,981.0 (r)
61 Commercial and
industrial 527.6 485.3
62 Bankers acceptances .0 .0
63 Other 527.6 485.3
64 Real estate 852.0 902.7 (r)
65 Revolving home
equity 102.0 124.9
66 Other 438.5 (r) 465.2 (r)
67 Commercial 311.5 (r) 312.6 (r)
68 Consumer 296.2 (r) 287.5 (r)
69 Credit cards and
related plans 122.2 (r) 114.7 (r)
70 Other 174.1 172.8
71 Security (3) 70.0 77.1
72 Federal funds sold
to and repurchase
agreements with
broker-dealers 57.0 65.3
73 Other 13.0 11.7
74 State and local
government 13.8 12.9
75 Agricultural 9.5 8.2
76 Federal funds sold to
and repurchase
agreements with
others 24.7 16.6
77 All other loans 69.5 65.9 (r)
78 Lease-financing
receivables 132.8 124.8
79 Interbank loans 157.0 172.0
80 Federal funds sold to
and repurchase
agreements with
commercial banks 84.3 84.6
81 Other 72.7 87.4
82 Cash assets (4) 144.1 137.9
83 Other assets (5) 316.9 (r) 323.4 (r)
84 Total assets (6) 3,206.0 (r) 3,301.4 (r)
Liabilities
85 Deposits 1,810.7 1,856.4
86 Transaction 307.7 271.0
87 Nontransaction 1,502.9 1,585.5
88 Large time 253.9 266.7
89 Other 1,249.0 1,318.8
90 Borrowings 714.0 700.6
91 From banks in the U.S. 256.2 246.1
92 From nonbanks in the
U.S. 457.7 454.4
93 Net due to related foreign
offices 162.8 170.2
94 Other liabilities 203.3 265.7
95 Total liabilities 2,890.7 2,992.9
96 Residual (assets less
liabilities) (7) 315.3 (r) 308.4 (r)
Monthly averages
Account 2002
Sept. Oct.
Seasonally adjusted
Assets
1 Bank credit 2,763.0 (r) 2,775.9 (r)
2 Securities in bank
credit 745.8 743.7
3 U.S. government
securities 432.0 (r) 435.2 (r)
4 Trading account 42.6 37.8
5 Investment account 389.3 (r) 397.5 (r)
6 Other securities 313.9 (r) 308.4 (r)
7 Trading account 172.7 161.5
8 Investment account 141.1 (r) 146.9 (r)
9 State and local
government 28.4 28.7
10 Other 112.8 (r) 118.2 (r)
11 Loans and leases in bank
credit (2) 2,017.2 (r) 2,032.3 (r)
12 Commercial and
industrial 484.2 481.1 (r)
13 Bankers acceptances .0 .0
14 Other 484.2 481.1 (r)
15 Real estate 923.1 (r) 942.0 (r)
16 Revolving home
equity 126.8 129.5
17 Other 796.3 (r) 812.5 (r)
18 Consumer 296.5 (r) 296.9 (r)
19 Security (3) 78.5 77.6
20 Federal funds sold
to and repurchase
agreements with
broker-dealers 67.9 66.8
21 Other 10.5 10.8
22 State and local
government 13.0 12.9
23 Agricultural 8.2 8.1
24 Federal funds sold to
and repurchase
agreements with
others 19.8 19.2
25 All other loans 68.1 (r) 70.2 (r)
26 Lease-financing
receivables 125.9 124.2
27 Interbank loans 182.0 181.7
28 Federal funds sold to
and repurchase
agreements with
commercial banks 89.2 84.0
29 Other 92.9 97.7
30 Cash assets (4) 144.4 144.1
31 Other assets (5) 323.4 (r) 332.3 (r)
32 Total assets (6) 3,369.9 (r) 3,391.1 (r)
Liabilities
33 Deposits 1,883.6 1,899.9
34 Transaction 268.4 286.9
35 Nontransaction 1,615.2 1,612.9
36 Large time 270.8 266.4
37 Other 1,344.4 1,346.6
38 Borrowings 724.0 721.7
39 From banks in the U.S. 258.0 257.8
40 From others 466.0 463.9
41 Net due to related foreign
offices 175.4 179.5
42 Other liabilities 274.5 271.3
43 Total liabilities 3,057.5 3,072.3
44 Residual (assets less
liabilities) (7) 312.5 (r) 318.8 (r)
Not seasonally adjusted
Assets
45 Bank credit 2,757.5 (r) 2,774.6 (r)
46 Securities in bank
credit 743.1 744.2
47 U.S. government
securities 429.5 (r) 432.6
48 Trading account 42.4 37.6
49 Investment account 387.1 (r) 395.1 (r)
50 Mortgage-backed
securities 308.2 313.1
51 Other 79.0 (r) 82.0 (r)
52 One year or less 19.8 21.7 (r)
53 One to five
years 46.3 49.9
54 More than five
years 12.9 10.4
55 Other securities 313.6 (r) 311.6 (r)
56 Trading account 172.6 163.2
57 Investment account 141.0 (r) 148.4 (r)
58 State and local
government 28.4 29.0
59 Other 112.7 (r) 119.4 (r)
60 Loans and leases in bank
credit (2) 2,014.3 (r) 2,030.4 (r)
61 Commercial and
industrial 483.8 481.9 (r)
62 Bankers acceptances .0 .0
63 Other 483.8 481.9 (r)
64 Real estate 923.5 (r) 940.9 (r)
65 Revolving home
equity 127.3 129.5
66 Other 482.9 (r) 495.3
67 Commercial 313.4 (r) 316.1 (r)
68 Consumer 294.0 (r) 293.9 (r)
69 Credit cards and
related plans 118.4 (r) 116.8 (r)
70 Other 175.6 177.2
71 Security (3) 79.7 80.0
72 Federal funds sold
to and repurchase
agreements with
broker-dealers 69.0 68.8
73 Other 10.7 11.1
74 State and local
government 13.0 12.9
75 Agricultural 8.2 8.0
76 Federal funds sold to
and repurchase
agreements with
others 19.8 19.2
77 All other loans 68.3 (r) 70.1 (r)
78 Lease-financing
receivables 124.0 123.6
79 Interbank loans 177.0 177.3
80 Federal funds sold to
and repurchase
agreements with
commercial banks 86.8 82.0
81 Other 90.2 95.3
82 Cash assets (4) 141.6 145.1
83 Other assets (5) 325.4 (r) 331.6 (r)
84 Total assets (6) 3,358.4 (r) 3,386.0 (r)
Liabilities
85 Deposits 1,874.8 1,896.8
86 Transaction 264.0 283.0
87 Nontransaction 1,610.9 1,613.9
88 Large time 268.3 267.6
89 Other 1,342.6 1,346.3
90 Borrowings 721.4 723.6
91 From banks in the U.S. 251.1 256.0
92 From nonbanks in the
U.S. 470.3 467.6
93 Net due to related foreign
offices 175.0 180.2
94 Other liabilities 274.0 272.2
95 Total liabilities 3,045.2 3,072.8
96 Residual (assets less
liabilities) (7) 313.2 (r) 313.2 (r)
Monthly averages
Account 2002
Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 2,828.6 (r) 2,855.2 (r)
2 Securities in bank
credit 780.1 787.9
3 U.S. government
securities 455.4 (r) 455.4 (r)
4 Trading account 48.1 44.5
5 Investment account 407.4 (r) 410.9 (r)
6 Other securities 324.7 (r) 332.5 (r)
7 Trading account 171.8 176.2
8 Investment account 152.9 (r) 156.4 (r)
9 State and local
government 29.1 29.4
10 Other 123.8 (r) 127.0 (r)
11 Loans and leases in bank
credit (2) 2,048.4 2,067.2 (r)
12 Commercial and
industrial 479.3 (r) 477.1 (r)
13 Bankers acceptances .0 .0
14 Other 479.3 (r) 477.1 (r)
15 Real estate 965.0 983.9
16 Revolving home
equity 131.7 135.7
17 Other 833.2 848.3
18 Consumer 295.2 294.7 (r)
19 Security (3) 73.2 73.0
20 Federal funds sold
to and repurchase
agreements with
broker-dealers 62.0 62.0
21 Other 11.3 11.0
22 State and local
government 12.1 11.8
23 Agricultural 8.1 8.1
24 Federal funds sold to
and repurchase
agreements with
others 18.5 22.4
25 All other loans 74.0 (r) 74.4 (r)
26 Lease-financing
receivables 123.0 121.8
27 Interbank loans 180.3 178.7
28 Federal funds sold to
and repurchase
agreements with
commercial banks 87.3 85.3
29 Other 93.0 93.4
30 Cash assets (4) 145.0 146.6
31 Other assets (5) 332.4 (r) 327.1 (r)
32 Total assets (6) 3,443.2 (r) 3,464.8 (r)
Liabilities
33 Deposits 1,924.4 1,936.4
34 Transaction 282.6 288.5
35 Nontransaction 1,641.8 1,647.9
36 Large time 265.2 (r) 261.4 (r)
37 Other 1,376.6 (r) 1,386.5 (r)
38 Borrowings 733.5 724.9
39 From banks in the U.S. 264.2 246.3
40 From others 469.3 478.7
41 Net due to related foreign
offices 185.5 199.0
42 Other liabilities 274.4 283.2
43 Total liabilities 3,117.8 3,143.6
44 Residual (assets less
liabilities) (7) 325.4 (r) 321.2 (r)
Not seasonally adjusted
Assets
45 Bank credit 2,836.7 (r) 2,869.6 (r)
46 Securities in bank
credit 784.5 794.1
47 U.S. government
securities 456.5 (r) 458.2 (r)
48 Trading account 48.2 44.8
49 Investment account 408.3 (r) 413.5 (r)
50 Mortgage-backed
securities 324.6 317.0
51 Other 83.7 (r) 96.5 (r)
52 One year or less 23.0 (r) 24.0 (r)
53 One to five
years 47.1 56.2
54 More than five
years 13.5 16.3
55 Other securities 328.1 (r) 335.8 (r)
56 Trading account 173.6 177.9
57 Investment account 154.5 (r) 157.9 (r)
58 State and local
government 29.4 29.7
59 Other 125.0 (r) 128.3 (r)
60 Loans and leases in bank
credit (2) 2,052.1 2,075.5 (r)
61 Commercial and
industrial 480.1 (r) 475.3 (r)
62 Bankers acceptances .0 .0
63 Other 480.1 (r) 475.3 (r)
64 Real estate 966.9 985.8
65 Revolving home
equity 131.9 135.2
66 Other 518.7 534.5 (r)
67 Commercial 316.4 316.0 (r)
68 Consumer 294.0 (r) 297.8 (r)
69 Credit cards and
related plans 114.0 116.5 (r)
70 Other 180.0 181.3
71 Security (3) 75.3 75.9
72 Federal funds sold
to and repurchase
agreements with
broker-dealers 63.7 64.5
73 Other 11.6 11.4
74 State and local
government 12.1 11.8
75 Agricultural 8.0 8.1
76 Federal funds sold to
and repurchase
agreements with
others 18.5 22.4
77 All other loans 74.5 (r) 76.2 (r)
78 Lease-financing
receivables 122.7 122.3
79 Interbank loans 182.1 182.9
80 Federal funds sold to
and repurchase
agreements with
commercial banks 88.2 87.3
81 Other 93.9 95.5
82 Cash assets (4) 148.0 157.5
83 Other assets (5) 333.9 (r) 329.4 (r)
84 Total assets (6) 3,457.3 (r) 3,496.4 (r)
Liabilities
85 Deposits 1,933.4 1,952.6
86 Transaction 285.5 305.0
87 Nontransaction 1,647.9 1,647.6
88 Large time 268.7 (r) 264.5 (r)
89 Other 1,379.2 (r) 1,383.2 (r)
90 Borrowings 736.6 724.5
91 From banks in the U.S. 261.3 247.7
92 From nonbanks in the
U.S. 475.3 476.8
93 Net due to related foreign
offices 190.2 203.2
94 Other liabilities 280.8 288.9
95 Total liabilities 3,141.1 3,169.3
96 Residual (assets less
liabilities) (7) 316.3 (r) 327.1 (r)
Wednesday
Monthly averages figures
Account 2003 2003
Jan. Feb. Feb. 5
Seasonally adjusted
Assets
1 Bank credit 2,863.8 (r) 2,914.4 2,888.1
2 Securities in bank
credit 794.1 829.7 805.3
3 U.S. government
securities 456.6 (r) 475.9 463.7
4 Trading account 41.3 54.7 48.5
5 Investment account 415.2 (r) 421.2 415.2
6 Other securities 337.5 (r) 353.9 341.6
7 Trading account 183.2 199.7 187.5
8 Investment account 154.3 (r) 154.2 154.1
9 State and local
government 29.6 29.8 29.8
10 Other 124.7 (r) 124.4 124.3
11 Loans and leases in bank
credit (2) 2,069.7 (r) 2,084.7 2,082.8
12 Commercial and
industrial 474.4 (r) 469.0 469.0
13 Bankers acceptances .0 n.a. n.a.
14 Other 474.4 (r) 469.0 469.0
15 Real estate 1,000.0 1,021.5 1,018.0
16 Revolving home
equity 138.9 141.8 140.7
17 Other 861.1 879.8 877.4
18 Consumer 296.2 (r) 294.4 295.6
19 Security (3) 62.9 64.3 61.9
20 Federal funds sold
to and repurchase
agreements with
broker-dealers 51.9 53.2 51.2
21 Other 11.0 11.1 10.6
22 State and local
government 11.9 12.2 11.9
23 Agricultural 8.1 7.8 7.9
24 Federal funds sold to
and repurchase
agreements with
others 22.9 23.2 25.0
25 All other loans 73.6 (r) 72.5 73.5
26 Lease-financing
receivables 119.9 119.8 119.9
27 Interbank loans 156.1 149.3 158.9
28 Federal funds sold to
and repurchase
agreements with
commercial banks 86.7 80.1 89.1
29 Other 69.4 69.1 69.8
30 Cash assets (4) 145.8 146.3 151.2
31 Other assets (5) 320.7 (r) 337.7 334.2
32 Total assets (6) 3,442.6 (r) 3,503.5 3,488.5
Liabilities
33 Deposits 1,946.8 (r) 1,946.1 1,961.4
34 Transaction 283.1 283.2 270.5
35 Nontransaction 1,663.7 (r) 1,662.9 1,690.9
36 Large time 272.1 (r) 275.0 278.8
37 Other 1,391.6 (r) 1,388.0 1,412.1
38 Borrowings 652.9 679.5 681.2
39 From banks in the U.S. 192.9 194.3 204.3
40 From others 460.0 485.2 476.9
41 Net due to related foreign
offices 208.0 (r) 211.1 203.6
42 Other liabilities 286.1 (r) 298.0 277.6
43 Total liabilities 3,093.8 3,134.7 3,123.8
44 Residual (assets less
liabilities) (7) 348.8 (r) 368.8 364.6
Not seasonally adjusted
Assets
45 Bank credit 2,874.6 (r) 2,919.6 2,897.1
46 Securities in bank
credit 802.8 837.3 814.7
47 U.S. government
securities 461.7 (r) 482.9 471.5
48 Trading account 41.8 55.5 49.3
49 Investment account 419.9 (r) 427.4 422.2
50 Mortgage-backed
securities 323.1 329.4 324.2
51 Other 96.7 (r) 98.0 97.9
52 One year or less 21.2 (r) 22.7 20.0
53 One to five
years 58.2 56.9 59.3
54 More than five
years 17.4 18.4 18.6
55 Other securities 341.1 (r) 354.4 343.2
56 Trading account 185.1 200.0 188.4
57 Investment account 156.0 (r) 154.4 154.9
58 State and local
government 30.0 29.8 29.9
59 Other 126.0 (r) 124.6 124.9
60 Loans and leases in bank
credit (2) 2,071.8 (r) 2,082.3 2,082.4
61 Commercial and
industrial 470.5 (r) 467.9 467.5
62 Bankers acceptances .0 .0 n.a.
63 Other 470.5 (r) 467.9 467.5
64 Real estate 999.4 1,017.8 1,016.1
65 Revolving home
equity 138.3 141.9 140.7
66 Other 544.7 (r) 559.3 559.2
67 Commercial 316.4 (r) 316.6 316.2
68 Consumer 301.0 (r) 297.3 299.3
69 Credit cards and
related plans 115.2 (r) 109.7 109.5
70 Other 185.7 187.6 189.8
71 Security (3) 62.9 63.7 61.0
72 Federal funds sold
to and repurchase
agreements with
broker-dealers 51.9 52.7 50.5
73 Other 11.0 11.0 10.5
74 State and local
government 11.9 12.2 11.9
75 Agricultural 8.1 7.7 7.8
76 Federal funds sold to
and repurchase
agreements with
others 22.9 23.2 25.0
77 All other loans 73.3 (r) 71.5 72.3
78 Lease-financing
receivables 121.9 121.1 121.5
79 Interbank loans 155.7 147.6 157.0
80 Federal funds sold to
and repurchase
agreements with
commercial banks 86.5 79.2 88.1
81 Other 69.2 68.3 69.0
82 Cash assets (4) 154.4 147.0 147.2
83 Other assets (5) 321.5 (r) 335.9 335.3
84 Total assets (6) 3,462.5 (r) 3,505.7 3,492.5
Liabilities
85 Deposits 1,950.5 (r) 1,954.2 1,966.8
86 Transaction 291.0 280.1 265.6
87 Nontransaction 1,659.5 (r) 1,674.1 1,701.3
88 Large time 274.8 277.1 281.6
89 Other 1,384.7 (r) 1,396.9 1,419.7
90 Borrowings 666.1 682.2 690.0
91 From banks in the U.S. 197.7 199.2 209.4
92 From nonbanks in the
U.S. 468.4 483.0 480.6
93 Net due to related foreign
offices 212.9 (r) 215.8 208.0
94 Other liabilities 292.7 (r) 304.2 283.4
95 Total liabilities 3,122.2 3,156.4 3,148.2
96 Residual (assets less
liabilities) (7) 340.3 (r) 349.4 344.2
Wednesday figures
Account 2003
Feb. 12 Feb. 19 Feb. 26
Seasonally adjusted
Assets
1 Bank credit 2,908.8 2,915.2 2,929.5
2 Securities in bank
credit 816.6 833.8 848.3
3 U.S. government
securities 467.4 479.3 486.7
4 Trading account 54.6 53.9 60.3
5 Investment account 412.8 425.3 426.4
6 Other securities 349.2 354.5 361.5
7 Trading account 194.9 199.9 207.9
8 Investment account 154.3 154.6 153.6
9 State and local
government 29.9 29.7 29.8
10 Other 124.5 124.9 123.7
11 Loans and leases in bank
credit (2) 2,092.2 2,081.4 2,081.2
12 Commercial and
industrial 469.1 469.9 468.6
13 Bankers acceptances n.a. n.a. n.a.
14 Other 469.1 469.9 468.6
15 Real estate 1,027.0 1,017.6 1,019.4
16 Revolving home
equity 140.9 141.5 142.8
17 Other 886.2 876.1 876.6
18 Consumer 295.7 294.2 293.1
19 Security (3) 65.3 65.1 64.8
20 Federal funds sold
to and repurchase
agreements with
broker-dealers 53.8 53.2 54.4
21 Other 11.5 12.0 10.4
22 State and local
government 12.2 12.1 12.3
23 Agricultural 7.8 7.8 7.7
24 Federal funds sold to
and repurchase
agreements with
others 23.0 22.2 23.6
25 All other loans 72.2 72.8 72.1
26 Lease-financing
receivables 119.8 119.7 119.7
27 Interbank loans 140.9 151.7 146.5
28 Federal funds sold to
and repurchase
agreements with
commercial banks 72.0 82.6 77.4
29 Other 68.9 69.1 69.1
30 Cash assets (4) 142.1 150.6 140.6
31 Other assets (5) 342.8 344.1 331.2
32 Total assets (6) 3,490.7 3,517.2 3,503.6
Liabilities
33 Deposits 1,946.7 1,949.7 1,924.9
34 Transaction 271.6 295.1 293.6
35 Nontransaction 1,675.1 1,654.7 1,631.3
36 Large time 274.8 277.2 270.6
37 Other 1,400.3 1,377.5 1,360.7
38 Borrowings 659.5 677.8 696.7
39 From banks in the U.S. 188.4 190.1 195.4
40 From others 471.1 487.7 501.3
41 Net due to related foreign
offices 214.9 214.6 212.4
42 Other liabilities 300.9 302.4 299.7
43 Total liabilities 3,121.9 3,144.6 3,133.7
44 Residual (assets less
liabilities) (7) 368.8 372.6 369.9
Not seasonally adjusted
Assets
45 Bank credit 2,913.3 2,920.0 2,931.1
46 Securities in bank
credit 822.7 841.9 854.6
47 U.S. government
securities 473.3 486.6 493.0
48 Trading account 55.3 54.8 61.1
49 Investment account 418.0 431.8 431.9
50 Mortgage-backed
securities 322.5 333.7 332.7
51 Other 95.6 98.1 99.2
52 One year or less 22.6 22.9 23.9
53 One to five
years 56.8 56.8 56.0
54 More than five
years 16.2 18.5 19.4
55 Other securities 349.4 355.3 361.6
56 Trading account 195.0 200.4 208.0
57 Investment account 154.4 154.9 153.6
58 State and local
government 29.9 29.7 29.8
59 Other 124.5 125.2 123.7
60 Loans and leases in bank
credit (2) 2,090.6 2,078.1 2,076.5
61 Commercial and
industrial 467.5 468.8 467.8
62 Bankers acceptances n.a. n.a. n.a.
63 Other 467.5 468.8 467.8
64 Real estate 1,025.7 1,012.9 1,012.9
65 Revolving home
equity 141.3 141.9 142.8
66 Other 568.2 554.6 552.9
67 Commercial 316.2 316.4 317.2
68 Consumer 298.9 297.2 295.6
69 Credit cards and
related plans 109.3 110.1 110.0
70 Other 189.6 187.1 185.5
71 Security (3) 63.7 63.8 64.9
72 Federal funds sold
to and repurchase
agreements with
broker-dealers 52.5 52.1 54.5
73 Other 11.2 11.7 10.4
74 State and local
government 12.2 12.1 12.3
75 Agricultural 7.8 7.7 7.6
76 Federal funds sold to
and repurchase
agreements with
others 23.0 22.2 23.6
77 All other loans 70.5 72.3 71.0
78 Lease-financing
receivables 121.2 121.0 120.9
79 Interbank loans 139.6 149.7 143.8
80 Federal funds sold to
and repurchase
agreements with
commercial banks 71.3 81.5 76.0
81 Other 68.2 68.2 67.8
82 Cash assets (4) 137.9 161.2 141.1
83 Other assets (5) 342.1 340.3 327.6
84 Total assets (6) 3,488.6 3,526.6 3,499.3
Liabilities
85 Deposits 1,955.0 1,962.8 1,927.5
86 Transaction 264.9 297.3 289.9
87 Nontransaction 1,690.1 1,665.5 1,637.6
88 Large time 278.1 279.2 271.2
89 Other 1,412.0 1,386.3 1,366.4
90 Borrowings 661.3 683.4 692.9
91 From banks in the U.S. 192.9 196.0 199.2
92 From nonbanks in the
U.S. 468.3 487.5 493.7
93 Net due to related foreign
offices 218.9 219.9 218.3
94 Other liabilities 306.3 309.4 307.7
95 Total liabilities 3,141.5 3,175.5 3,146.4
96 Residual (assets less
liabilities) (7) 347.0 351.1 352.8
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
2002 2002
Account Feb. Aug.
Seasonally adjusted
Assets
1 Bank credit 2,218.7 (r) 2,326.9 (r)
2 Securities in bank
credit 624.0 646.0
3 U.S. government
securities 402.3 436.8
4 Other securities 221.6 209.2
5 Loans and leases in bank
credit (2) 1,594.7 (r) 1,680.9 (r)
6 Commercial and
industrial 301.8 (r) 303.7 (r)
7 Real estate 916.5 980.9 (r)
8 Revolving home
equity 60.3 73.1
9 Other 856.2 907.8 (r)
10 Consumer 270.6 (r) 285.0
11 Security (3) 7.8 8.0
12 Other loans and leases 97.9 103.3
13 Interbank loans 99.3 110.6
14 Cash assets (4) 111.9 124.7
15 Other assets (5) 141.2 145.2
16 Total assets (6) 2,540.7 (r) 2,676.2 (r)
Liabilities
17 Deposits 1,993.6 2,092.6
18 Transaction 303.6 306.7
19 Nontransaction 1,690.0 1,785.9
20 Large time 301.7 301.6
21 Other 1,388.4 1,484.3
22 Borrowings 332.0 358.3
23 From banks in the U.S. 120.6 (r) 131.9 (r)
24 From others 211.3 (r) 226.3 (r)
25 Net due to related foreign
offices 10.9 8.5
26 Other liabilities 60.0 66.3
27 Total liabilities 2,396.5 2,525.6 (r)
28 Residual (assets less
liabilities) (7) 144.2 (r) 150.5 (r)
Not seasonally adjusted
Assets
29 Bank credit 2,215.0 (r) 2,324.0 (r)
30 Securities in bank
credit 625.7 643.7
31 U.S. government
securities 404.0 434.4
32 Other securities 221.6 209.2
33 Loans and leases in bank
credit (2) 1,589.3 (r) 1,680.3 (r)
34 Commercial and
industrial 300.4 302.2 (r)
35 Real estate 914.6 981.6 (r)
36 Revolving home
equity 60.2 72.9
37 Other 854.5 908.7 (r)
38 Consumer 270.5 (r) 283.7 (r)
39 Credit cards and
related plans 101.4 (r) 109.7 (r)
40 Other 169.1 174.1
41 Security (3) 7.8 7.9
42 Other loans and leases 96.0 104.9
43 Interbank loans 99.8 108.7
44 Cash assets (4) 111.5 120.9
45 Other assets (5) 141.2 145.2
46 Total assets (6) 2,537.2 (r) 2,667.5 (r)
Liabilities
47 Deposits 1,997.7 2,076.6
48 Transaction 301.6 303.0
49 Nontransaction 1,696.1 1,773.6
50 Large time 301.7 301.6
51 Other 1,394.4 1,472.0
52 Borrowings 332.0 358.3
53 From banks in the U.S. 120.6 (r) 131.9 (r)
54 From others 211.3 (r) 226.3 (r)
55 Net due to related foreign
offices 10.9 8.5
56 Other liabilities 60.0 66.3
57 Total liabilities 2,400.5 2,509.6
58 Residual (assets less
liabilities) (7) 136.6 (r) 157.9 (r)
Monthly averages
2002
Account Sept. Oct. (r) Nov. (r)
Seasonally adjusted
Assets
1 Bank credit 2,348.4 (r) 2,369.7 2,388.3
2 Securities in bank
credit 650.2 654.6 659.2
3 U.S. government
securities 444.1 444.8 453.2
4 Other securities 206.1 206.3 206.0
5 Loans and leases in bank
credit (2) 1,698.1 (r) 1,715.0 1,729.1
6 Commercial and
industrial 305.0 (r) 305.9 307.9
7 Real estate 994.2 (r) 1,006.7 1,015.6
8 Revolving home
equity 74.1 75.4 76.1
9 Other 920.1 (r) 931.4 939.5
10 Consumer 286.1 (r) 287.7 289.7
11 Security (3) 8.2 8.4 8.3
12 Other loans and leases 104.6 106.4 107.6
13 Interbank loans 114.6 120.2 121.5
14 Cash assets (4) 126.8 (r) 129.1 129.1
15 Other assets (5) 147.1 145.0 147.9
16 Total assets (6) 2,705.2 (r) 2,732.0 2,754.6
Liabilities
17 Deposits 2,103.9 (r) 2,116.8 2,127.3
18 Transaction 305.5 314.6 314.1
19 Nontransaction 1,798.4 (r) 1,802.2 1,813.2
20 Large time 302.5 304.9 306.4
21 Other 1,495.9 1,497.3 1,506.8
22 Borrowings 374.2 377.4 377.1
23 From banks in the U.S. 135.3 (r) 133.9 131.0
24 From others 238.8 (r) 243.4 246.1
25 Net due to related foreign
offices 8.6 12.3 11.3
26 Other liabilities 68.2 69.0 70.9
27 Total liabilities 2,554.9 2,575.5 2,586.6
28 Residual (assets less
liabilities) (7) 150.3 (r) 156.5 168.0
Not seasonally adjusted
Assets
29 Bank credit 2,350.4 (r) 2,375.0 2,394.0
30 Securities in bank
credit 649.2 653.4 659.0
31 U.S. government
securities 443.0 (r) 447.1 453.1
32 Other securities 206.1 206.3 206.0
33 Loans and leases in bank
credit (2) 1,701.2 (r) 1,721.6 1,735.0
34 Commercial and
industrial 303.3 (r) 305.8 306.8
35 Real estate 995.9 (r) 1,010.0 1,018.7
36 Revolving home
equity 74.6 75.9 76.6
37 Other 921.3 (r) 934.1 942.0
38 Consumer 288.2 (r) 291.2 293.6
39 Credit cards and
related plans 112.8 (r) 115.3 117.5
40 Other 175.4 175.9 176.0
41 Security (3) 8.0 8.3 8.6
42 Other loans and leases 105.8 106.4 107.3
43 Interbank loans 111.8 119.2 123.6
44 Cash assets (4) 126.4 129.6 133.6
45 Other assets (5) 147.1 145.0 147.9
46 Total assets (6) 2,704.0 (r) 2,736.8 2,766.9
Liabilities
47 Deposits 2,092.6 2,112.1 2,134.5
48 Transaction 303.6 313.3 316.5
49 Nontransaction 1,789.0 1,798.8 1,817.9
50 Large time 302.5 304.9 306.4
51 Other 1,486.5 1,493.9 1,511.5
52 Borrowings 374.2 377.4 377.1
53 From banks in the U.S. 135.3 (r) 133.9 131.0
54 From others 238.8 (r) 243.4 246.1
55 Net due to related foreign
offices 8.6 12.3 11.3
56 Other liabilities 68.2 69.0 70.9
57 Total liabilities 2,543.6 2,570.8 2,593.8
58 Residual (assets less
liabilities) (7) 160.3 (r) 166.0 173.2
Monthly averages
2002 2003
Account Dec. (r) Jan. (r) Feb.
Seasonally adjusted
Assets
1 Bank credit 2,396.7 2,403.6 2,419.6
2 Securities in bank
credit 663.3 662.9 663.1
3 U.S. government
securities 456.3 455.3 455.9
4 Other securities 207.0 207.5 207.2
5 Loans and leases in bank
credit (2) 1,733.5 1,740.7 1,756.5
6 Commercial and
industrial 308.9 309.6 311.9
7 Real estate 1,017.7 1,020.3 1,029.9
8 Revolving home
equity 76.8 78.0 80.3
9 Other 940.9 942.2 949.6
10 Consumer 291.4 295.5 299.5
11 Security (3) 8.4 8.5 8.6
12 Other loans and leases 107.0 106.8 106.6
13 Interbank loans 121.0 122.4 126.1
14 Cash assets (4) 128.6 130.7 132.9
15 Other assets (5) 149.7 149.8 154.6
16 Total assets (6) 2,763.6 2,774.1 2,800.7
Liabilities
17 Deposits 2,123.8 2,124.4 2,141.2
18 Transaction 315.8 313.3 314.1
19 Nontransaction 1,807.9 1,811.2 1,827.2
20 Large time 308.9 308.3 311.2
21 Other 1,499.0 1,502.9 1,515.9
22 Borrowings 389.5 404.5 407.7
23 From banks in the U.S. 139.6 154.4 157.5
24 From others 249.9 250.1 250.2
25 Net due to related foreign
offices 12.4 15.2 13.0
26 Other liabilities 70.5 77.1 79.8
27 Total liabilities 2,596.2 2,621.2 2,641.7
28 Residual (assets less
liabilities) (7) 167.5 152.8 159.0
Not seasonally adjusted
Assets
29 Bank credit 2,410.1 2,405.3 2,415.8
30 Securities in bank
credit 666.1 664.1 665.0
31 U.S. government
securities 459.1 456.6 457.8
32 Other securities 207.0 207.5 207.2
33 Loans and leases in bank
credit (2) 1,744.0 1,741.2 1,750.8
34 Commercial and
industrial 309.0 308.6 310.3
35 Real estate 1,020.6 1,019.9 1,027.8
36 Revolving home
equity 77.4 78.3 80.1
37 Other 943.2 941.6 947.7
38 Consumer 298.3 299.1 299.4
39 Credit cards and
related plans 122.0 120.2 118.9
40 Other 176.4 178.9 180.5
41 Security (3) 8.6 8.3 8.6
42 Other loans and leases 107.5 105.3 104.6
43 Interbank loans 123.8 120.6 126.7
44 Cash assets (4) 135.8 133.7 132.4
45 Other assets (5) 149.7 149.8 154.6
46 Total assets (6) 2,786.9 2,777.0 2,797.0
Liabilities
47 Deposits 2,145.5 2,135.3 2,145.6
48 Transaction 326.2 317.5 312.0
49 Nontransaction 1,819.4 1,817.8 1,833.6
50 Large time 308.9 308.3 311.2
51 Other 1,510.4 1,509.5 1,522.4
52 Borrowings 389.5 404.5 407.7
53 From banks in the U.S. 139.6 154.4 157.5
54 From others 249.9 250.1 250.2
55 Net due to related foreign
offices 12.4 15.2 13.0
56 Other liabilities 70.5 77.1 79.8
57 Total liabilities 2,618.0 2,632.1 2,646.1
58 Residual (assets less
liabilities) (7) 169.0 144.9 150.9
Wednesday figures
2003
Account Feb. 5 Feb. 12 Feb. 19 Feb. 26
Seasonally adjusted
Assets
1 Bank credit 2,416.0 2,415.6 2,421.7 2,422.4
2 Securities in bank
credit 665.9 663.6 661.8 660.2
3 U.S. government
securities 459.4 455.7 454.2 453.6
4 Other securities 206.5 207.9 207.6 206.6
5 Loans and leases in bank
credit (2) 1,750.2 1,752.1 1,760.0 1,762.2
6 Commercial and
industrial 311.4 311.4 312.5 311.9
7 Real estate 1,026.4 1,029.4 1,029.9 1,032.7
8 Revolving home
equity 79.6 79.7 80.7 81.0
9 Other 946.8 949.7 949.1 951.7
10 Consumer 297.1 296.5 302.4 301.6
11 Security (3) 8.6 8.5 8.7 8.9
12 Other loans and leases 106.7 106.2 106.6 107.1
13 Interbank loans 124.1 120.0 126.7 133.1
14 Cash assets (4) 135.5 132.8 133.6 130.3
15 Other assets (5) 155.3 157.0 154.0 151.2
16 Total assets (6) 2,798.5 2,793.1 2,803.3 2,804.3
Liabilities
17 Deposits 2,135.5 2,131.1 2,143.8 2,147.8
18 Transaction 308.2 306.9 317.1 323.8
19 Nontransaction 1,827.3 1,824.2 1,826.7 1,823.9
20 Large time 310.0 309.7 310.9 313.1
21 Other 1,517.3 1,514.5 1,515.8 1,510.9
22 Borrowings 408.6 410.4 410.5 404.1
23 From banks in the U.S. 157.2 158.9 158.1 156.9
24 From others 251.4 251.5 252.3 247.2
25 Net due to related foreign
offices 15.1 12.6 12.6 12.8
26 Other liabilities 79.1 79.2 79.5 80.7
27 Total liabilities 2,638.3 2,633.3 2,646.5 2,645.4
28 Residual (assets less
liabilities) (7) 160.2 159.8 156.9 158.9
Not seasonally adjusted
Assets
29 Bank credit 2,414.6 2,413.8 2,415.8 2,417.3
30 Securities in bank
credit 667.5 666.3 663.3 662.2
31 U.S. government
securities 461.1 458.4 455.7 455.6
32 Other securities 206.5 207.9 207.6 206.6
33 Loans and leases in bank
credit (2) 1,747.1 1,747.5 1,752.5 1,755.1
34 Commercial and
industrial 310.0 309.8 310.7 310.5
35 Real estate 1,025.0 1,028.2 1,027.0 1,030.2
36 Revolving home
equity 79.6 79.7 80.4 80.6
37 Other 945.4 948.5 946.6 949.5
38 Consumer 298.3 296.9 302.1 300.9
39 Credit cards and
related plans 116.5 115.5 121.9 121.4
40 Other 181.8 181.4 180.2 179.5
41 Security (3) 8.6 8.4 8.5 8.7
42 Other loans and leases 105.1 104.2 104.3 104.7
43 Interbank loans 126.5 121.4 125.2 130.9
44 Cash assets (4) 132.7 128.2 138.1 131.0
45 Other assets (5) 155.3 157.0 154.0 151.2
46 Total assets (6) 2,796.7 2,788.0 2,800.5 2,797.6
Liabilities
47 Deposits 2,145.5 2,135.8 2,147.9 2,146.5
48 Transaction 307.8 302.7 316.3 320.6
49 Nontransaction 1,837.7 1,833.1 1,831.5 1,825.9
50 Large time 310.0 309.7 310.9 313.1
51 Other 1,527.7 1,523.4 1,520.6 1,512.9
52 Borrowings 408.6 410.4 410.5 404.1
53 From banks in the U.S. 157.2 158.9 158.1 156.9
54 From others 251.4 251.5 252.3 247.2
55 Net due to related foreign
offices 15.1 12.6 12.6 12.8
56 Other liabilities 79.1 79.2 79.5 80.7
57 Total liabilities 2,648.2 2,638.0 2,650.5 2,644.1
58 Residual (assets less
liabilities) (7) 148.4 150.0 150.0 153.5
E. Foreign-related institutions
Billions of dollars
Monthly averages
2002 2002
Account Feb. Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 592.2 620.9 618.7
2 Securities in bank
credit 233.5 250.0 247.5 (r)
3 U.S. government
securities 69.4 81.8 86.7
4 Other securities 164.2 168.1 160.8
5 Loans and leases in bank
credit (2) 358.6 370.9 371.2 (r)
6 Commercial and
industrial 198.2 189.9 185.4 (r)
7 Real estate 17.4 18.8 19.0
8 Security (3) 74.9 90.5 94.8
9 Other loans and leases 68.1 71.7 72.0
10 Interbank loans 20.2 18.5 21.7
11 Cash assets (4) 42.3 46.5 46.0
12 Other assets (5) 29.5 29.0 28.4 (r)
13 Total assets (6) 683.8 714.5 714.5
Liabilities
14 Deposits 470.3 495.1 486.0
15 Transaction 10.2 10.1 10.1
16 Nontransaction 460.0 485.0 475.9
17 Borrowings 188.7 213.8 224.1 (r)
18 From banks in the U.S. 22.0 21.6 22.7
19 From others 166.7 192.1 201.4 (r)
20 Net due to related foreign
offices -60.5 -85.6 -83.7 (r)
21 Other liabilities 79.6 96.8 92.7
22 Total liabilities 678.1 720.0 719.1
23 Residual (assets less
liabilities) (7) 5.7 -5.5 -4.6
Not seasonally adjusted
Assets
24 Bank credit 596.2 614.7 615.4
25 Securities in bank
credit 233.5 250.0 247.5 (r)
26 U.S. government
securities 69.4 81.8 86.7
27 Trading account 10.5 (r) 13.0 15.2
28 Investment account 58.9 (r) 68.8 71.5
29 Other securities 164.2 168.1 160.8
30 Trading account 101.4 109.8 103.9
31 Investment account 62.7 58.4 56.9
32 Loans and leases in bank
credit (2) 362.6 364.8 367.9
33 Commercial and
industrial 199.8 188.3 185.4
34 Real estate 17.4 18.8 19.0
35 Security (3) 77.3 87.2 91.9
36 Other loans and leases 68.2 70.4 71.6
37 Interbank loans 20.2 18.5 21.7
38 Cash assets (4) 43.2 45.1 46.1
39 Other assets (5) 30.1 28.6 29.0
40 Total assets (6) 689.3 706.5 711.7
Liabilities
41 Deposits 475.7 480.6 474.0
42 Transaction 10.4 9.8 10.3
43 Nontransaction 465.3 470.8 463.8 (r)
44 Borrowings 188.7 213.8 224.1 (r)
45 From banks in the U.S. 22.0 21.6 22.7
46 From others 166.7 192.1 201.4 (r)
47 Net due to related foreign
offices -57.6 -87.6 -82.7
48 Other liabilities 80.8 95.6 93.3
49 Total liabilities 687.6 702.4 708.7 (r)
50 Residual (assets less
liabilities) (7) 1.8 (r) 4.1 3.1
Monthly averages
2002
Account Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 614.3 (r) 621.0 (r) 634.7
2 Securities in bank
credit 245.5 (r) 249.3 (r) 263.9
3 U.S. government
securities 88.9 (r) 92.9 (r) 101.0 (r)
4 Other securities 156.6 (r) 156.3 (r) 162.9 (r)
5 Loans and leases in bank
credit (2) 368.8 (r) 371.7 (r) 370.8
6 Commercial and
industrial 181.2 (r) 179.0 (r) 178.1 (r)
7 Real estate 19.5 19.8 19.4
8 Security (3) 97.1 105.1 110.2
9 Other loans and leases 71.0 67.8 63.1
10 Interbank loans 24.9 26.6 31.8
11 Cash assets (4) 45.1 (r) 40.7 (r) 42.5
12 Other assets (5) 35.1 38.0 41.2
13 Total assets (6) 719.0 (r) 725.9 749.8
Liabilities
14 Deposits 466.4 448.5 424.0
15 Transaction 9.7 (r) 9.5 9.5
16 Nontransaction 456.6 439.1 414.5
17 Borrowings 233.9 254.6 282.9
18 From banks in the U.S. 23.1 25.5 29.9
19 From others 210.7 229.1 253.0
20 Net due to related foreign
offices -72.5 (r) -74.5 (r) -61.1 (r)
21 Other liabilities 99.7 99.1 99.9
22 Total liabilities 727.4 (r) 727.7 (r) 745.8
23 Residual (assets less
liabilities) (7) -8.4 -1.8 4.0
Not seasonally adjusted
Assets
24 Bank credit 614.3 (r) 623.8 (r) 643.8
25 Securities in bank
credit 245.5 (r) 249.3 (r) 263.9
26 U.S. government
securities 88.9 (r) 92.9 (r) 101.0 (r)
27 Trading account 18.6 20.2 30.3
28 Investment account 70.3 (r) 72.9 (r) 70.7 (r)
29 Other securities 156.6 (r) 156.3 (r) 162.9 (r)
30 Trading account 100.5 99.3 99.7
31 Investment account 56.2 (r) 57.1 (r) 63.3
32 Loans and leases in bank
credit (2) 368.8 (r) 374.5 (r) 379.8 (r)
33 Commercial and
industrial 181.8 (r) 180.5 (r) 179.6 (r)
34 Real estate 19.5 19.8 19.4
35 Security (3) 97.2 106.4 116.0
36 Other loans and leases 70.2 67.8 64.8
37 Interbank loans 24.9 26.6 31.8
38 Cash assets (4) 46.0 (r) 43.1 (r) 45.1
39 Other assets (5) 34.5 37.8 42.3
40 Total assets (6) 719.3 (r) 730.9 762.6
Liabilities
41 Deposits 458.9 452.2 (r) 435.7
42 Transaction 9.9 9.6 10.2
43 Nontransaction 449.1 (r) 442.5 425.5
44 Borrowings 233.9 254.6 282.9
45 From banks in the U.S. 23.1 25.5 29.9
46 From others 210.7 229.1 253.0
47 Net due to related foreign
offices -73.8 (r) -75.6 (r) -58.9 (r)
48 Other liabilities 98.9 98.3 101.4
49 Total liabilities 717.9 (r) 729.5 (r) 761.2
50 Residual (assets less
liabilities) (7) 1.4 1.4 1.4
Wed-
nesday
Monthly averages figures
2003 2003
Account Jan. Feb. Feb. 5
Seasonally adjusted
Assets
1 Bank credit 624.9 636.8 632.6
2 Securities in bank
credit 265.5 276.0 274.4
3 U.S. government
securities 101.4 (r) 106.2 105.0
4 Other securities 164.1 (r) 169.8 169.5
5 Loans and leases in bank
credit (2) 359.4 360.8 358.2
6 Commercial and
industrial 174.9 (r) 171.4 172.2
7 Real estate 18.7 17.9 17.9
8 Security (3) 105.4 111.1 107.1
9 Other loans and leases 60.3 60.4 61.0
10 Interbank loans 30.9 30.9 29.1
11 Cash assets (4) 37.9 35.8 36.1
12 Other assets (5) 46.7 47.7 49.8
13 Total assets (6) 739.9 (r) 750.8 747.3
Liabilities
14 Deposits 432.0 446.9 450.7
15 Transaction 9.7 9.7 9.4
16 Nontransaction 422.2 437.1 441.3
17 Borrowings 277.9 283.3 276.0
18 From banks in the U.S. 31.2 31.5 29.8
19 From others 246.7 251.8 246.2
20 Net due to related foreign
offices -71.8 (r) -81.6 -76.4
21 Other liabilities 97.0 98.8 97.2
22 Total liabilities 735.0 (r) 747.4 747.5
23 Residual (assets less
liabilities) (7) 4.9 3.4 -.1
Not seasonally adjusted
Assets
24 Bank credit 632.1 (r) 641.8 640.3
25 Securities in bank
credit 265.5 276.0 274.4
26 U.S. government
securities 101.4 (r) 106.2 105.0
27 Trading account 31.6 34.4 33.1
28 Investment account 69.8 (r) 71.8 71.9
29 Other securities 164.2 (r) 169.8 169.5
30 Trading account 98.9 97.9 99.5
31 Investment account 65.3 (r) 72.0 70.0
32 Loans and leases in bank
credit (2) 366.6 365.8 365.8
33 Commercial and
industrial 175.6 172.8 172.6
34 Real estate 18.7 17.9 17.9
35 Security (3) 111.2 114.7 113.9
36 Other loans and leases 61.0 60.5 61.4
37 Interbank loans 30.9 30.9 29.1
38 Cash assets (4) 39.9 36.5 37.4
39 Other assets (5) 47.9 48.6 51.2
40 Total assets (6) 750.4 (r) 757.5 757.6
Liabilities
41 Deposits 441.8 452.0 458.2
42 Transaction 10.0 9.9 9.6
43 Nontransaction 431.9 442.1 448.6
44 Borrowings 277.9 283.3 276.0
45 From banks in the U.S. 31.2 31.5 29.8
46 From others 246.7 251.8 246.2
47 Net due to related foreign
offices -69.3 -79.5 -75.7
48 Other liabilities 98.6 (r) 100.3 97.7
49 Total liabilities 749.0 (r) 756.1 756.2
50 Residual (assets less
liabilities) (7) 1.4 1.4 1.4
Wednesday figures
2003
Account Feb. 12 Feb. 19 Feb. 26
Seasonally adjusted
Assets
1 Bank credit 633.7 634.4 640.2
2 Securities in bank
credit 276.1 274.8 275.6
3 U.S. government
securities 106.0 105.4 107.1
4 Other securities 170.1 169.4 168.5
5 Loans and leases in bank
credit (2) 357.6 359.6 364.6
6 Commercial and
industrial 171.4 171.7 171.0
7 Real estate 17.9 17.8 18.0
8 Security (3) 108.3 109.9 115.4
9 Other loans and leases 60.0 60.2 60.2
10 Interbank loans 30.8 30.4 32.2
11 Cash assets (4) 35.3 35.9 35.9
12 Other assets (5) 48.2 46.6 47.2
13 Total assets (6) 747.6 746.8 755.2
Liabilities
14 Deposits 445.1 441.2 449.3
15 Transaction 9.5 9.6 10.0
16 Nontransaction 435.6 431.6 439.3
17 Borrowings 279.2 273.6 297.3
18 From banks in the U.S. 24.2 31.8 38.2
19 From others 255.0 241.8 259.1
20 Net due to related foreign
offices -74.4 -76.6 -95.3
21 Other liabilities 95.5 103.9 97.2
22 Total liabilities 745.4 742.0 748.5
23 Residual (assets less
liabilities) (7) 2.2 4.8 6.7
Not seasonally adjusted
Assets
24 Bank credit 640.9 635.9 645.3
25 Securities in bank
credit 276.1 274.8 275.6
26 U.S. government
securities 106.0 105.4 107.1
27 Trading account 33.7 33.5 36.5
28 Investment account 72.2 71.8 70.6
29 Other securities 170.1 169.4 168.5
30 Trading account 97.2 96.5 97.4
31 Investment account 72.9 73.0 71.1
32 Loans and leases in bank
credit (2) 364.8 361.1 369.8
33 Commercial and
industrial 173.0 173.3 172.4
34 Real estate 17.9 17.8 18.0
35 Security (3) 113.8 110.0 119.2
36 Other loans and leases 60.2 59.9 60.1
37 Interbank loans 30.8 30.4 32.2
38 Cash assets (4) 36.4 36.7 36.2
39 Other assets (5) 49.4 46.8 47.9
40 Total assets (6) 757.1 749.4 761.3
Liabilities
41 Deposits 451.6 444.2 454.7
42 Transaction 9.6 9.9 10.0
43 Nontransaction 442.0 434.3 444.7
44 Borrowings 279.2 273.6 297.3
45 From banks in the U.S. 24.2 31.8 38.2
46 From others 255.0 241.8 259.1
47 Net due to related foreign
offices 72.2 -74.9 -91.9
48 Other liabilities 97.1 105.2 99.8
49 Total liabilities 755.7 748.0 759.9
50 Residual (assets less
liabilities) (7) 1.4 1.4 1.4
F. Memo items
Billions of dollars
Monthly averages
2002 2002
Account Feb. Aug. Sept.
Not seasonally adjusted
MEMO
Large domestically
chartered banks, adjusted
for mergers
1 Revaluation gains on off-
balance-sheet items (8) 81.7 112.3 119.1
2 Revaluation losses on off-
balance-sheet items (8) 59.7 94.2 100.5
3 Mortgage-backed securities
(9) 296.8 338.5 343.9
4 Pass-through 200.2 253.7 255.0
5 CMO, REMIC, and other 96.7 84.8 88.9
6 Net unrealized gains
(losses) on available-
for-sale securities (10) 3.5 9.1 11.5
7 Off-shore credit to U.S.
residents (11) 19.8 19.0 19.0
8 Securitized consumer
loans (12) 132.2 (r) 142.8 (r) 141.9 (r)
9 Credit cards and
related plans 120.7 125.5 125.0
10 Other 11.7 (r) 17.3 (r) 16.9 (r)
11 Securitized business
loans (12) 19.4 17.8 17.8 (r)
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 276.3 (r) 295.1 (r) 300.4 (r)
13 Securitized consumer
loans (12) 207.6 202.1 199.9
14 Credit cards and related
plans 200.0 199.0 195.9
15 Other 7.6 3.1 3.9
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 53.0 65.1 62.5
17 Revaluation losses on off-
balance-sheet items (8) 48.0 64.8 61.5
18 Securitized business
loans (12) 13.0 9.1 8.1
Monthly averages
2002
Account Oct. Nov. Dec.
Not seasonally adjusted
MEMO
Large domestically
chartered banks, adjusted
for mergers
1 Revaluation gains on off-
balance-sheet items (8) 110.9 117.1 124.4
2 Revaluation losses on off-
balance-sheet items (8) 94.2 100.8 105.6
3 Mortgage-backed securities
(9) 355.2 370.4 363.1
4 Pass-through 261.7 274.6 265.6
5 CMO, REMIC, and other 93.5 95.8 97.4
6 Net unrealized gains
(losses) on available-
for-sale securities (10) 12.5 11.8 11.0
7 Off-shore credit to U.S.
residents (11) 18.4 18.5 18.7
8 Securitized consumer
loans (12) 144.3 (r) 148.5 (r) 150.1 (r)
9 Credit cards and
related plans 127.5 131.4 133.2
10 Other 16.9 (r) 17.0 (r) 16.9 (r)
11 Securitized business
loans (12) 17.8 (r) 17.4 (r) 17.2 (r)
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 303.3 (r) 305.3 (r) 307.2 (r)
13 Securitized consumer
loans (12) 198.3 198.7 201.2
14 Credit cards and related
plans 189.3 189.8 192.5
15 Other 8.9 8.9 8.7
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 61.9 63.2 64.0
17 Revaluation losses on off-
balance-sheet items (8) 60.2 60.4 60.1
18 Securitized business
loans (12) 7.6 7.3 6.9
Wed-
nesday
Monthly averages figures
2003 2003
Account Jan. Feb. Feb. 5
Not seasonally adjusted
MEMO
Large domestically
chartered banks, adjusted
for mergers
1 Revaluation gains on off-
balance-sheet items (8) 130.5 143.3 131.7
2 Revaluation losses on off-
balance-sheet items (8) 108.8 121.2 110.9
3 Mortgage-backed securities
(9) 368.8 374.8 369.9
4 Pass-through 271.2 276.5 269.9
5 CMO, REMIC, and other 97.6 98.3 99.9
6 Net unrealized gains
(losses) on available-
for-sale securities (10) 12.2 12.1 11.6
7 Off-shore credit to U.S.
residents (11) 18.3 18.2 18.2
8 Securitized consumer
loans (12) 149.7 (r) 150.6 150.8
9 Credit cards and
related plans 132.2 134.8 134.9
10 Other 17.5 (r) 15.8 15.9
11 Securitized business
loans (12) 16.9 (r) 17.2 17.1
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 306.7 312.5 312.4
13 Securitized consumer
loans (12) 205.6 204.5 206.2
14 Credit cards and related
plans 197.1 196.0 197.7
15 Other 8.5 8.4 8.5
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 66.5 66.5 67.8
17 Revaluation losses on off-
balance-sheet items (8) 63.0 65.1 65.5
18 Securitized business
loans (12) 5.8 4.8 4.8
Wednesday figures
2003
Account Feb. 12 Feb. 19 Feb. 26
Not seasonally adjusted
MEMO
Large domestically
chartered banks, adjusted
for mergers
1 Revaluation gains on off-
balance-sheet items (8) 139.6 142.5 150.3
2 Revaluation losses on off-
balance-sheet items (8) 117.9 119.8 127.5
3 Mortgage-backed securities
(9) 368.0 379.1 377.3
4 Pass-through 268.2 282.1 281.4
5 CMO, REMIC, and other 99.8 97.0 95.9
6 Net unrealized gains
(losses) on available-
for-sale securities (10) 11.6 11.9 12.4
7 Off-shore credit to U.S.
residents (11) 18.4 18.1 18.4
8 Securitized consumer
loans (12) 150.5 150.0 151.1
9 Credit cards and
related plans 134.6 134.2 135.3
10 Other 15.9 15.8 15.8
11 Securitized business
loans (12) 17.3 17.2 17.1
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 312.0 312.3 311.0
13 Securitized consumer
loans (12) 206.0 204.1 202.5
14 Credit cards and related
plans 197.6 195.6 194.1
15 Other 8.5 8.5 8.4
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 65.9 65.5 66.6
17 Revaluation losses on off-
balance-sheet items (8) 63.6 64.6 65.8
18 Securitized business
loans (12) 4.8 4.9 4.8
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 quantifies
of balance sheet items acquired in mergers are removed from past
data for the bank group that contained the acquired bank and put
into past data for the group containing the acquiring bank. Balance
sheet data for acquired banks are obtained from Call Reports, and a
ratio procedure is used to adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans
made to commercial banks in the United States, all of which are
included in "Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans
to purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due
from Federal Reserve Banks.
(5.) Excludes the due-from position with related foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported gross
of these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally
adjusted basis, this item reflects any differences in the seasonal
patterns estimated for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private
entities.
(10.) Difference between fair value and historical cost for
securities classified as available-for-sale under FASB Statement
No. 115. Data are reported net of tax effects. Data shown are
restated to include an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
Financial Markets
1.32 COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1998 1999 2000
1 All issuers 1,163,303 1,403,023 1,615,341
Financial companies (1)
2 Dealer-placed paper,
total (2) 614,142 786,643 973,060
3 Directly placed paper,
total (3) 322,030 337,240 298,848
4 Nonfinancial companies (4) 227,132 279,140 343,433
Year ending
December 2002
Item 2001 2002 Aug.
1 All issuers 1,438,764 1,321,517 1,375,414
Financial companies (1)
2 Dealer-placed paper,
total (2) 989,364 949,683 863,037
3 Directly placed paper,
total (3) 224,553 217,787 343,733
4 Nonfinancial companies (4) 224,847 154,047 168,466
2002
Item Sept. Oct. Nov.
1 All issuers 1,338,119 1,350,182 1,351,428
Financial companies (1)
2 Dealer-placed paper,
total (2) 856,037 973,150 982,239
3 Directly placed paper,
total (3) 322,729 219,581 211,574
4 Nonfinancial companies (4) 159,353 157,451 157,615
2002 2003
Item Dec. Jan.
1 All issuers 1,321,517 1,345,460
Financial companies (1)
2 Dealer-placed paper,
total (2) 949,683 955,386
3 Directly placed paper,
total (3) 217,787 236,820
4 Nonfinancial companies (4) 154,047 153,254
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal and mortgage financing;
factoring, finance leasing, and other business lending;
insurance underwriting; and other investment activities.
(2.) Includes all financial-company paper sold by dealers in the
open market.
(3.) As reported by financial companies that place their paper
directly with investors.
(4.) Includes public utilities and firms engaged primarily in
such activities as communications construction, manufacturing,
mining, wholesale and retail trade, transportation, and
services.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
1999--Jan. 1 8.50
Feb. 3 8.75
Mar. 22 9.00
May. 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Nov. 7 5.00
Dec. 12 4.75
2002--Nov. 7 4.25
2000 9.23
2001 6.91
2002 4.67
2000--Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
Nov. 5.10
Dec. 4.84
2002--Jan. 4.75
Feb. 4.75
Mar. 4.75
Apr. 4.75
May 4.75
June 4.75
July 4.75
Aug. 4.75
Sept. 4.75
Oct. 4.75
Nov. 4.35
Dec. 4.25
2003--Jan. 4.25
Feb. 4.25
Mar. 4.25
(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 predominant one quoted by a majority of the twenty-five
largest banks by asset size, based on the most recent Call Report. Data
in this table also appear in the Board's H.15 (519) weekly and G.13
(415) monthly statistical releases. For ordering address, see inside
front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of
business day data unless otherwise noted
Item 2000 2001 2002
MONEY MARKET INSTRUMENTS
1 Federal funds (1),(2),(3) 6.24 3.88 1.67
2 Discount window primary
credit (2),(4) n.a. n.a. n.a.
Commercial paper (3),(5),(6)
Nonfinancial
3 1-month 6.27 3.78 1.67
4 2-month 6.29 3.68 1.67
5 3-month 6.31 3.65 1.69
Financial
6 1-month 6.28 3.80 1.68
7 2-month 6.30 3.71 1.69
8 3-month 6.33 3.65 1.70
Certificates of deposit,
secondary market (3),(7)
9 1-month 6.35 3.84 1.72
10 3-month 6.46 3.71 1.73
11 6-month 6.59 3.66 1.81
12 Eurodollar deposits,
3-month (3),(8) 6.45 3.70 1.73
US. Treasury bills
Secondary market (3),(5)
13 4-week n.a. 2.43 1.60
14 3-month 5.82 3.40 1.61
15 6-month 5.90 3.34 1.68
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 6.11 3.49 2.00
17 2-year 6.26 3.83 2.64
18 3-year 6.22 4.09 3.10
19 5-year 6.16 4.56 3.82
20 7-year 6.20 4.88 4.30
21 10-year 6.03 5.02 4.61
22 20-year 6.23 5.63 5.43
Treasury long-term
average (10),(11)
23 25 years and above n.a. n.a. 5.41
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 5.58 5.01 4.87
25 Baa 6.19 5.75 5.64
26 Bond Buyer series (13) 5.71 5.15 5.04
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 7.98 7.49 7.10
Rating group
28 Aaa (15) 7.62 7.08 6.49
29 Aa 7.83 7.26 6.93
30 A 8.11 7.67 7.18
31 Baa 8.37 7.95 7.80
MEMO
Dividend-price ratio (16)
32 Common stocks 1.15 1.32 1.61
2002 2003
Item Nov. Dec. Jan. Feb.
MONEY MARKET INSTRUMENTS
1 Federal funds (1),(2),(3) 1.34 1.24 1.24 1.26
2 Discount window primary
credit (2),(4) n.a. n.a. n.a. 2.25
Commercial paper (3),(5),(6)
Nonfinancial
3 1-month 1.34 1.31 1.25 1.24
4 2-month 1.35 1.32 1.26 1.25
5 3-month 1.36 1.31 1.26 1.26
Financial
6 1-month 1.34 1.31 1.26 1.25
7 2-month 1.37 1.32 1.27 1.25
8 3-month 1.37 1.32 1.27 1.25
Certificates of deposit,
secondary market (3),(7)
9 1-month 1.39 1.37 1.29 1.27
10 3-month 1.39 1.34 1.29 1.27
11 6-month 1.40 1.36 1.30 1.27
12 Eurodollar deposits,
3-month (3),(8) 1.39 1.35 1.29 1.26
US. Treasury bills
Secondary market (3),(5)
13 4-week 1.24 1.18 1.15 1.18
14 3-month 1.23 1.19 1.17 1.17
15 6-month 1.27 1.24 1.20 1.18
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 1.49 1.45 1.36 1.30
17 2-year 1.92 1.84 1.74 1.63
18 3-year 2.32 2.23 2.18 2.05
19 5-year 3.05 3.03 3.05 2.90
20 7-year 3.64 3.63 3.60 3.45
21 10-year 4.05 4.03 4.05 3.90
22 20-year 5.04 5.01 5.02 4.87
Treasury long-term
average (10),(11)
23 25 years and above 5.10 5.06 5.07 4.93
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.77 4.70 4.72 4.57
25 Baa 5.62 5.57 5.61 5.48
26 Bond Buyer series (13) 4.95 4.85 4.90 4.81
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 6.88 6.77 6.72 6.50
Rating group
28 Aaa (15) 6.31 6.21 6.17 5.95
29 Aa 6.71 6.63 6.59 6.34
30 A 6.89 6.80 6.77 6.63
31 Baa 7.62 7.45 7.35 7.06
MEMO
Dividend-price ratio (16)
32 Common stocks 1.73 1.77 1.81 1.91
2003, week ending
Jan. Feb. Feb. Feb. Feb.
Item 31 7 14 21 28
MONEY MARKET INSTRUMENTS
1 Federal funds (1),(2),(3) 1.24 1.29 1.22 1.30 1.24
2 Discount window primary
credit (2),(4) 2.25 2.25 2.25 2.25 2.25
Commercial paper (3),(5),(6)
Nonfinancial
3 1-month 1.24 1.23 1.24 1.25 1.25
4 2-month 1.24 1.26 1.23 1.25 1.25
5 3-month 1.24 1.24 1.26 1.27 1.25
Financial
6 1-month 1.25 1.25 1.24 1.25 1.25
7 2-month 1.25 1.25 1.26 1.24 1.25
8 3-month 1.25 1.25 1.25 1.25 1.25
Certificates of deposit,
secondary market (3),(7)
9 1-month 1.27 1.27 1.27 1.27 1.27
10 3-month 1.27 1.27 1.26 1.27 1.27
11 6-month 1.27 1.27 1.26 1.27 1.27
12 Eurodollar deposits,
3-month (3),(8) 1.26 1.26 1.26 1.27 1.26
US. Treasury bills
Secondary market (3),(5)
13 4-week 1.15 1.15 1.16 1.17 1.21
14 3-month 1.16 1.15 1.16 1.17 1.19
15 6-month 1.17 1.17 1.17 1.18 1.18
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 1.32 1.32 1.30 1.30 1.27
17 2-year 1.72 1.69 1.63 1.62 1.57
18 3-year 2.16 2.14 2.06 2.04 1.96
19 5-year 3.01 3.02 2.94 2.87 2.76
20 7-year 3.56 3.55 3.50 3.42 3.31
21 10-year 4.01 3.98 3.95 3.89 3.78
22 20-year 4.96 4.92 4.91 4.88 4.78
Treasury long-term
average (10),(11)
23 25 years and above 5.00 4.95 4.97 4.95 4.86
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.72 4.68 4.59 4.52 4.48
25 Baa 5.59 5.58 5.50 5.44 5.38
26 Bond Buyer series (13) 4.90 4.88 4.83 4.79 4.74
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 6.63 6.53 6.52 6.50 6.43
Rating group
28 Aaa (15) 6.09 5.99 5.97 5.96 5.89
29 Aa 6.48 6.37 6.37 6.35 6.28
30 A 6.73 6.65 6.66 6.65 6.57
31 Baa 7.21 7.10 7.09 7.06 6.97
MEMO
Dividend-price ratio (16)
32 Common stocks 1.86 1.93 1.93 1.89 1.89
NOTE. Some of the data in this table also appear in the Board's
H.15 (519) weekly statistical release. For ordering address, see
inside front cover.
(1.) The daily effective federal funds rate is a weighted average
of rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days, ending
on Wednesday of the current week; monthly figures include each
calendar day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) The rate charged for primary credit under an amendment to
the Board's Regulation A, which became effective January 9, 2003.
This rate replaces that for adjustment credit, which was
discontinued after January 8, 2003. For further information,
see: http://www.federalreserve.gov/boarddocs/press/bcreg/
2002/200210312/default.htm. The rate is that reported for the
Federal Reserve Bank of New York. Historical series for the rate
on adjustment credit is available at: http://www.federalreserve.gov/
releases.gov/releases/h15/data.htm.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial
paper trades settled by the Depository Trust Company. The trades
represent sales of commercial paper by dealers or direct issuers
to investors (that is, the offer side). See the Board's Commercial
Paper web pages (http://www.federalreserve.gov/releases/cp) for
more information.
(7.) An average of dealer offering rates on nationally traded
certificates of deposit.
(8.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(9.) Yields on actively traded issues adjusted to constant
maturities.
(10.) Based on the unweighted average of the bid yields for all
Treasury fixed-coupon securities with remaining terms to maturity
of 25 years and over.
(11.) A factor for adjusting the daily long-term average in order
to estimate a 30-year rate can be found at http://www.treas.gov/
offices/domestic-finance/debt-management/interest-rate/
ltcompositeindex.html.
(12.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(13.) State and local government general obligation bonds maturing
in twenty years are used in compiling this index. The twenty-bond
index has a rating roughly equivalent to Moody's A1 rating. Based
on Thursday figures.
(14.) Daily figures are averages of Aaa, Aa, A, and Baa yields
from Moody's Investors Service. Based on yields to maturity on
selected long-term bonds.
(15.) Effective December 7, 2001, the Moody's Aaa yield includes
yields only for industrial firms. Prior to December 7, 2001, the
Aaa yield represented both utilities and industrial.
(16.) Standard & Poor's corporate series. Common stock ratio is
based on the 500 stocks in the price index.
SOURCE: U.S. Department of the Treasury.
1.36 STOCK MARKET Selected Statistics
2002
Indicator 2000 2001 2002 June
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31, 1965 =
50) 6,806.46 6,407.95 5,571.46 5,755.89
2 Industrial 809.40 749.46 656.44 677.58
3 Transportation 414.73 444.45 430.63 449.42
4 Utility 478.99 377.72 260.50 265.21
5 Finance 552.48 596.61 554.88 577.05
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 1,427.22 1,194.18 993.94 1,014.05
7 American Stock
Exchange
(Aug. 31, 1973 =
50) (2) 922.22 879.08 860.11 911.59
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,026,867 1,216,529 1,411,689 1,539,282
9 American Stock
Exchange 51,437 68,074 n.a. n.a.
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 198,790 150,450 134,380 146,270
Free credit balances
at brokers (4)
11 Margin accounts (5) 100,680 101,640 95,690 95,830
12 Cash accounts 84,400 78,040 73,340 68,280
Margin requirements (percent of
market value and effective date) (6)
Mar. 11, 1968 June 8, 1968
13 Margin stocks 70 80
14 Convertible bonds 50 60
15 Short sales 70 80
2002
Indicator July Aug. Sept. Oct.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31, 1965 =
50) 5,139.94 5,200.62 4,980.65 4,862.70
2 Industrial 603.04 611.34 589.14 574.45
3 Transportation 416.07 409.96 388.19 383.41
4 Utility 230.21 225.52 210.76 207.83
5 Finance 524.01 533.60 506.05 494.06
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 903.59 912.55 867.81 854.63
7 American Stock
Exchange
(Aug. 31, 1973 =
50) (2) 840.76 843.89 852.03 807.38
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,848,962 1,317,105 1,370,143 1,619,896
9 American Stock
Exchange n.a. n.a. n.a. n.a.
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 136,160 132,800 130,210 130,570
Free credit balances
at brokers (4)
11 Margin accounts (5) 98,080 95,400 98,630 96,620
12 Cash accounts 68,860 63,700 67,550 66,780
Margin requirements (percent of
market value and effective date) (6)
May 6, 1970 Dec. 6, 1971
13 Margin stocks 65 55
14 Convertible bonds 50 50
15 Short sales 65 55
2002 2003
Indicator Nov. Dec. Jan. Feb.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31, 1965 =
50) 5,104.89 5,075.76 5,055.78 4,738.56
2 Industrial 597.75 593.15 587.78 553.90
3 Transportation 405.03 401.39 394.6 367.55
4 Utility 229.41 236.71 236.42 214.64
5 Finance 523.50 519.72 522.51 485.72
6 Standard & Poor's
Corporation
(1941-43 = 10) (1) 909.93 899.18 895.84 837.62
7 American Stock
Exchange
(Aug. 31, 1973 =
50) (2) 820.62 823.77 824.64 818.84
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,427,254 1,210,332 1,441,846 1,302,011
9 American Stock
Exchange n.a. n.a. n.a. n.a.
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 133,060 134,380 134,910 134,030
Free credit balances
at brokers (4)
11 Margin accounts (5) 91,240 95,690 96,430 95,400
12 Cash accounts 67,380 73,340 66,200 67,260
Margin requirements (percent of
market value and effective date) (6)
Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 65 50
14 Convertible bonds 50 50
15 Short sales 65 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit
at broker--dealers has included credit extended against stocks,
convertible bonds, stocks acquired through the exercise of
subscription rights, corporate bonds, and government securities.
Separate reporting of data for margin stocks, convertible bonds,
and subscription issues was discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board
of Governors pursuant to the Securities Exchange Act of 1934, limit
the amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are
the difference between the market value (100 percent) and the maximum
loan value of collateral as prescribed by the Board. Regulation T was
adopted effective Oct. 15, 1934; Regulation U, effective May 1, 1936;
Regulation G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established
in Regulation T the initial margin required for writing options on
securities, setting it at 30 percent of the current market value of
the stock underlying the option. On Sept. 30, 1985, the Board changed
the required initial margin, allowing it to be the same as the option
maintenance margin required by the appropriate exchange or
self-regulatory organization; such maintenance margin rules must be
approved by the Securities and Exchange Commission.
Federal Finance
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2000 2001
Item Dec. 31 Mar. 31 June 30
1 Federal debt outstanding 5,803.5 5,800.6 5,753.9
2 Public debt securities 5,662.2 5,773.7 5,726.8
3 Held by public 3,527.4 3,434.4 3,274.2
4 Held by agencies 2,248.7 2,339.4 2,452.6
5 Agency securities 27.4 26.8 27.1
6 Held by public 27.3 26.8 27.1
7 Held by agencies .1 .1 .0
8 Debt subject to statutory limit 5,580.5 5,692.5 5,645.0
9 Public debt securities 5,580.2 5,692.3 5,644.8
10 Other debt (1) .2 .2 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2001 2002
Item Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,834.5 5,970.3 6,032.4
2 Public debt securities 5,807.5 5,943.4 6,006.0
3 Held by public 3,338.7 3,393.8 3,443.7
4 Held by agencies 2,468.8 2,549.7 2,562.4
5 Agency securities 27.0 26.8 26.4
6 Held by public 27.0 26.8 26.4
7 Held by agencies .0 .0 .0
8 Debt subject to statutory limit 5,732.6 5,871.4 5,935.1
9 Public debt securities 5,732.4 5,871.2 5,935.0
10 Other debt (1) .2 .3 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2002
Item June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 6,153.3 6,255.4 6,433.0
2 Public debt securities 6,126.5 6,228.2 6,405.7
3 Held by public 3,463.5 3,552.6 3,647.4
4 Held by agencies 2,662.9 2,675.6 2,758.3
5 Agency securities 26.8 27.2 27.3
6 Held by public 26.8 27.2 27.3
7 Held by agencies .0 .0 .0
8 Debt subject to statutory limit 6,058.3 6,161.4 6,359.4
9 Public debt securities 6,058.1 6,161.1 6,359.1
10 Other debt (1) .2 .3 .3
MEMO
11 Statutory debt limit 6,400.0 6,400.0 6,400.0
(1.) Consists of guaranteed debt of U.S. Treasury and other federal
agencies, specified participation certificates, notes to international
lending organizations, and District of Columbia stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1999 2000 2001 2002
1 Total gross public debt 5,776.1 5,662.2 5,943.4 6,405.7
By type
2 Interest-bearing 5,766.1 5,618.1 5,930.8 6,391.4
3 Marketable 3,281.0 2,966.9 2,982.9 3,205.1
4 Bills 737.1 646.9 811.3 888.8
5 Notes 1,784.5 1,557.3 1,413.9 1,580.8
6 Bonds 643.7 626.5 602.7 588.7
7 Inflation-indexed notes
and bonds (1) 100.7 121.2 140.1 146.9
8 Nonmarketable (2) 2,485.1 2,651.2 2,947.9 3,186.3
9 State and local
government series 165.7 151.0 146.3 153.4
10 Foreign issues (3) 31.3 27.2 15.4 11.2
11 Government 31.3 27.2 15.4 11.2
12 Public .0 .0 .0 .0
13 Savings bonds and notes 179.4 176.9 181.5 184.8
14 Government account
series (4) 2,078.7 2,266.1 2,574.8 2,806.9
15 Non-interest-bearing 10.0 44.2 12.7 14.3
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,064.2 2,270.1 2,572.2 2,757.8
17 Federal Reserve Banks (6) 478.0 511.7 551.7 629.4
18 Private investors 3,233.9 2,880.4 2,819.5 3,018.5
19 Depository institutions 248.7 201.5 181.5 223.2
20 Mutual funds 228.6 220.8 257.5 278.1
21 Insurance companies 123.4 110.2 105.7 117.4
22 State and local
treasuries (7) 266.8 236.2 256.5 274.2
Individuals
23 Savings bonds 186.4 184.8 190.3 194.9
24 Pension funds 321.0 304.1 281.6 284.2
25 Private 109.8 108.4 104.2 111.4
26 State and Local 211.2 195.7 177.4 172.8
27 Foreign and
international (8) 1,268.7 1,034.2 1,053.1 1,174.2
28 Other miscellaneous
investors (7),(9) 590.3 588.7 493.3 n.a.
2002
Type and holder Q1 Q2 Q3 Q4
1 Total gross public debt 6,006.0 6,126.5 6,228.2 6,405.7
By type
2 Interest-bearing 5,962.2 6,087.0 6,216.3 6,391.4
3 Marketable 3,003.3 3,024.8 3,136.6 3,205.1
4 Bills 834.4 822.5 868.3 888.8
5 Notes 1,411.7 1,446.9 1,521.5 1,580.8
6 Bonds 596.7 592.9 592.9 588.7
7 Inflation-indexed notes
and bonds (1) 145.6 147.5 138.9 146.9
8 Nonmarketable (2) 2,958.9 3,062.2 3,079.6 3,186.3
9 State and local
government series 141.1 142.8 144.3 153.4
10 Foreign issues (3) 14.6 13.3 12.5 11.2
11 Government 14.6 13.3 12.5 11.2
12 Public .0 .0 .0 .0
13 Savings bonds and notes 183.6 184.8 185.6 184.8
14 Government account
series (4) 2,589.7 2,691.4 2,707.3 2,806.9
15 Non-interest-bearing 43.8 39.5 12.0 14.3
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,581.4 2,686.0 2,701.3 2,757.8
17 Federal Reserve Banks (6) 575.4 590.7 604.2 629.4
18 Private investors 2,849.2 2,849.8 2,924.8 3,018.5
19 Depository institutions 187.6 204.4 210.4 223.2
20 Mutual funds 264.9 250.0 253.6 278.1
21 Insurance companies 108.4 110.3 116.0 117.4
22 State and local
treasuries (7) 261.2 271.7 269.4 274.2
Individuals
23 Savings bonds 191.9 192.7 193.3 194.9
24 Pension funds 293.3 286.0 284.9 284.2
25 Private 106.3 108.8 110.9 111.4
26 State and Local 187.0 177.2 174.1 172.8
27 Foreign and
international (8) 1,056.5 1,068.1 1,128.6 1,174.2
28 Other miscellaneous
investors (7),(9) 485.4 466.5 471.1 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
2003,
week
2002 2003 ending
Item Nov. Dec. Jan. Jan. 1
By type of security
1 U.S. Treasury bills 48,070 44,252 39,484 44,452
Treasury coupon
securities by
maturity
2 Three years or less 141,467 98,091 122,814 50,663
3 More than three but
less than or equal
to six years 118,430 78,534 119,127 36,370
4 More than six but less
than or equal to
eleven years 98,012 61,252 75,346 28,264
5 More than eleven 20,833 15,748 16,002 10,331
6 Inflation-indexed (2) 2,603 2,380 3,969 1,532
Federal agency and
government-sponsored
enterprises
7 Discount notes 51,785 54,947 56,755 57,667
Coupon securities by
maturity
8 Three years or less 12,727 8,787 12,752 5,492
9 More than three
years but less
than or equal to
six years 8,893 6,270 10,444 2,588
10 More than six years
but less than or
equal to eleven
years 7,383 5,976 6,839 2,243
11 More than eleven
years 1,219 897 988 813
12 Mortgage-backed 194,006 153,693 201,113 (r) 77,533
Corporate securities
13 One year or less 111,148 101,904 109,068 (r) 83,300
14 More than one year 22,421 15,482 22,404 4,126
By type of counterparty
With interdealer broker
15 U.S. Treasury 205,144 137,745 170,999 70,851
16 Federal agency and
government-sponsored
enterprises 10,018 7,381 10,127 4,273
17 Mortgage-backed 49,075 36,156 54,576 (r) 16,842
18 Corporate 431 433 616 64
With other
19 U.S. Treasury 224,271 162,512 205,741 100,760
20 Federal agency and
government-sponsored
enterprises 71,989 69,496 77,652 64,530
21 Mortgage-backed 144,931 117,537 146,537 (r) 60,692
22 Corporate 133,138 116,953 130,855 (r) 87,362
2003, week ending
Item Jan. 8 Jan. 15 Jan. 22 Jan. 29
By type of security
1 U.S. Treasury bills 40,845 37,031 40,224 38,052
Treasury coupon
securities by
maturity
2 Three years or less 116,047 139,902 108,177 124,329
3 More than three but
less than or equal
to six years 141,958 132,622 104,298 98,307
4 More than six but less
than or equal to
eleven years 69,120 88,242 70,103 73,479
5 More than eleven 14,469 16,369 16,861 16,642
6 Inflation-indexed (2) 7,402 3,292 2,746 2,451
Federal agency and
government-sponsored
enterprises
7 Discount notes 62,335 54,697 58,095 51,741
Coupon securities by
maturity
8 Three years or less 12,515 13,891 10,728 11,844
9 More than three
years but less
than or equal to
six years 11,226 9,346 11,343 9,738
10 More than six years
but less than or
equal to eleven
years 5,839 8,773 6,408 6,852
11 More than eleven
years 821 1,527 694 941
12 Mortgage-backed 276,025 241,250 135,934 152,512
Corporate securities
13 One year or less 105,664 112,043 118,518 103,376
14 More than one year 18,492 24,116 19,841 26,287
By type of counterparty
With interdealer broker
15 U.S. Treasury 171,563 182,096 158,681 164,015
16 Federal agency and
government-sponsored
enterprises 9,649 10,618 10,771 10,233
17 Mortgage-backed 69,875 58,790 35,992 50,663
18 Corporate 543 677 524 661
With other
19 U.S. Treasury 218,277 235,361 183,729 189,245
20 Federal agency and
government-sponsored
enterprises 83,086 77,615 76,497 70,884
21 Mortgage-backed 206,150 182,460 99,943 101,849
22 Corporate 123,613 135,481 137,835 129,002
2003, week ending
Item Feb. 5 Feb. 12 Feb. 19 Feb. 26
By type of security
1 U.S. Treasury bills 44,310 37,510 38,707 44,677
Treasury coupon
securities by
maturity
2 Three years or less 122,494 114,312 95,291 126,063
3 More than three but
less than or equal
to six years 110,023 128,243 97,747 104,503
4 More than six but less
than or equal to
eleven years 73,820 88,227 90,878 83,004
5 More than eleven 15,594 22,002 17,694 23,597
6 Inflation-indexed (2) 3,316 3,248 2,185 3,477
Federal agency and
government-sponsored
enterprises
7 Discount notes 57,810 54,206 61,150 51,402
Coupon securities by
maturity
8 Three years or less 16,818 10,336 8,791 10,657
9 More than three
years but less
than or equal to
six years 11,206 11,438 7,708 10,259
10 More than six years
but less than or
equal to eleven
years 5,337 4,550 7,782 5,445
11 More than eleven
years 761 585 2,009 936
12 Mortgage-backed 165,350 254,910 181,176 177,764
Corporate securities
13 One year or less 105,468 104,604 118,895 115,302
14 More than one year 23,318 24,000 18,873 20,942
By type of counterparty
With interdealer broker
15 U.S. Treasury 183,940 189,323 156,672 170,636
16 Federal agency and
government-sponsored
enterprises 8,541 8,885 7,844 7,883
17 Mortgage-backed 52,743 75,820 54,089 52,611
18 Corporate 714 553 368 466
With other
19 U.S. Treasury 185,617 204,218 185,828 214,685
20 Federal agency and
government-sponsored
enterprises 83,390 72,229 79,595 70,814
21 Mortgage-backed 112,607 179,089 127,088 125,153
22 Corporate 128,072 128,051 137,400 135,779
NOTE. Major changes in the report form filed by primary dealers
induced a break in the dealer data series as of the week ending
July 4, 2001. Current weekly data may be found at the Federal
Reserve Bank of New York web site (http:www.newyorkfed.org/
pihome/statistics) under the Primary Dealer heading.
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, 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.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2002 2003
Item, by
type of security Nov. Dec. Jan.
Net outright positions (2)
1 U.S. Treasury bills 21,827 27,911 23,749
Treasury coupon securities by
maturity
2 Three years or less -25,283 -22,860 -19,950
3 More than three years but
less than or equal to
six years -30,766 -33,784 -33,546
4 More than six but less than
or equal to eleven years -15,248 -19,587 -18,697
5 More than eleven 1,106 1,813 4,522
6 Inflation-indexed 1,402 4,312 1,268
Federal agency and government-
sponsored enterprises
7 Discount notes 51,259 51,664 55,562
Coupon securities, by
maturity
8 Three years or less 16,344 18,834 15,969
9 More than three years but
less than or equal to
six years -407 587 4,501
10 More than six but less than
or equal to eleven years 1,556 2,333 1,521
11 More than eleven 2,994 2,757 2,200
12 Mortgage-backed 8,176 12,650 23,387
Corporate securities
13 One year or less 21,645 25,588 25,810
14 More than one year 50,912 55,865 53,119
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 614,961 605,390 629,534
16 Term 937,618 918,379 716,731
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 145,420 143,451 153,105
18 Term 315,176 294,633 228,176
Mortgage-backed securities
19 Overnight and continuing 48,995 35,872 37,003
20 Term 277,966 274,185 250,974
Corporate securities
21 Overnight and continuing 49,184 49,163 58,162
22 Term 26,247 24,654 24,045
MEMO
Reverse repurchase agreements
23 Overnight and continuing 456,710 440,006 425,659
24 Term 1,404,106 1,352,627 1,058,223
Securities out, U.S. Treasury
25 Overnight and continuing 573,787 585,423 586,166
26 Term 875,065 842,700 656,962
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 276,128 271,376 293,172
28 Term 245,811 232,535 153,444
Mortgage-backed securities
29 Overnight and continuing 316,240 300,834 334,095
30 Term 170,818 170,735 153,932
Corporate securities
31 Overnight and continuing 133,692 135,776 135,890
32 Term 20,946 17,694 19,581
MEMO
Repurchase agreements
33 Overnight and continuing 1,139,287 1,127,804 1,159,110
34 Term 1,279,914 1,233,261 951,521
2003, week ending
Item, by
type of security Jan. 1 Jan. 8 Jan. 15
Net outright positions (2)
1 U.S. Treasury bills 22,849 30,612 27,776
Treasury coupon securities by
maturity
2 Three years or less -26,020 -24,014 -25,729
3 More than three years but
less than or equal to
six years -32,883 -25,657 -31,449
4 More than six but less than
or equal to eleven years -19,408 -18,584 -18,828
5 More than eleven 3,706 4,264 4,833
6 Inflation-indexed 3,195 708 740
Federal agency and government-
sponsored enterprises
7 Discount notes 41,205 53,082 58,959
Coupon securities, by
maturity
8 Three years or less 19,754 18,118 13,441
9 More than three years but
less than or equal to
six years 100 3,059 4,289
10 More than six but less than
or equal to eleven years 2,197 1,410 2,399
11 More than eleven 2,453 2,571 2,239
12 Mortgage-backed 20,316 12,043 20,425
Corporate securities
13 One year or less 22,714 23,602 25,656
14 More than one year 59,712 54,642 54,930
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 628,260 632,534 642,916
16 Term 606,042 670,679 702,996
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 156,702 159,469 147,538
18 Term 211,024 227,203 224,307
Mortgage-backed securities
19 Overnight and continuing 42,826 47,571 35,239
20 Term 227,205 253,088 251,774
Corporate securities
21 Overnight and continuing 55,493 57,743 57,928
22 Term 24,697 23,962 23,881
MEMO
Reverse repurchase agreements
23 Overnight and continuing 478,500 446,333 423,856
24 Term 896,060 1,016,245 1,043,024
Securities out, U.S. Treasury
25 Overnight and continuing 617,379 579,704 597,525
26 Term 523,487 621,245 647,239
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 266,398 297,118 283,500
28 Term 147,595 156,350 152,494
Mortgage-backed securities
29 Overnight and continuing 291,863 286,744 329,449
30 Term 140,737 166,052 154,005
Corporate securities
31 Overnight and continuing 133,477 137,182 136,059
32 Term 16,264 17,394 190,713
MEMO
Repurchase agreements
33 Overnight and continuing 1,124,399 1,119,989 1,154,848
34 Term 799,181 931,963 940,780
2003, week ending
Item, by
type of security Jan. 22 Jan. 29 Feb. 5
Net outright positions (2)
1 U.S. Treasury bills 20,672 15,946 24,171
Treasury coupon securities by
maturity
2 Three years or less -20,489 -9,703 -16,436
3 More than three years but
less than or equal to
six years -38,417 -38,614 -34,042
4 More than six but less than
or equal to eleven years -17,603 -19,813 -18,197
5 More than eleven 5,075 4,250 3,759
6 Inflation-indexed 1,387 2,028 1,038
Federal agency and government-
sponsored enterprises
7 Discount notes 48,878 61,236 63,066
Coupon securities, by
maturity
8 Three years or less 16,572 15,243 15,827
9 More than three years but
less than or equal to
six years 4,879 5,459 7,812
10 More than six but less than
or equal to eleven years 1,155 1,107 1,236
11 More than eleven 2,043 1,982 1,958
12 Mortgage-backed 25,035 33,740 32,996
Corporate securities
13 One year or less 26,446 26,498 30,987
14 More than one year 52,358 50,787 48,978
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 623,757 618,617 631,268
16 Term 722,327 770,564 773,324
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 149,462 154,502 156,371
18 Term 230,440 232,573 230,380
Mortgage-backed securities
19 Overnight and continuing 36,140 29,138 33,821
20 Term 247,109 257,452 243,508
Corporate securities
21 Overnight and continuing 58,051 58,759 60,079
22 Term 24,357 23,645 24,887
MEMO
Reverse repurchase agreements
23 Overnight and continuing 408,808 415,652 427,199
24 Term 1,063,055 1,119,107 1,109,413
Securities out, U.S. Treasury
25 Overnight and continuing 582,890 582,617 577,312
26 Term 659,977 702,113 714,152
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 281,190 308,888 313,538
28 Term 154,818 150,466 155,138
Mortgage-backed securities
29 Overnight and continuing 363,297 367,868 316,794
30 Term 150,152 149,285 147,341
Corporate securities
31 Overnight and continuing 133,222 135,480 142,755
32 Term 21,393 20,537 21,002
MEMO
Repurchase agreements
33 Overnight and continuing 1,166,601 1,200,763 1,156,305
34 Term 953,180 986,973 1,003,848
2003, week ending
Item, by
type of security Feb. 12 Feb. 19
Net outright
positions (2)
1 U.S. Treasury bills 31,778 40,149
Treasury coupon securities by
maturity
2 Three years or less -18,025 -15,372
3 More than three years but
less than or equal to
six years -27,510 -29,391
4 More than six but less than
or equal to eleven years -13,268 -13,100
5 More than eleven 3,220 5,155
6 Inflation-indexed 2,222 2,071
Federal agency and government-
sponsored enterprises
7 Discount notes 57,514 54,573
Coupon securities, by
maturity
8 Three years or less 19,734 16,576
9 More than three years but
less than or equal to
six years 9,268 6,025
10 More than six but less than
or equal to eleven years 207 822
11 More than eleven 2,095 2,203
12 Mortgage-backed 28,681 21,290
Corporate securities
13 One year or less 25,718 30,300
14 More than one year 48,276 53,681
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 641,428 673,773
16 Term 798,446 622,685
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 159,292 162,395
18 Term 231,468 216,628
Mortgage-backed securities
19 Overnight and continuing 37,946 51,364
20 Term 248,270 242,632
Corporate securities
21 Overnight and continuing 60,680 61,367
22 Term 24,964 24,702
MEMO
Reverse repurchase agreements
23 Overnight and continuing 446,710 492,350
24 Term 1,140,885 943,789
Securities out, U.S. Treasury
25 Overnight and continuing 593,721 633,936
26 Term 742,013 564,162
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 310,052 301,736
28 Term 160,989 149,215
Mortgage-backed securities
29 Overnight and continuing 307,924 363,780
30 Term 152,537 146,900
Corporate securities
31 Overnight and continuing 137,209 143,942
32 Term 22,395 22,240
MEMO
Repurchase agreements
33 Overnight and continuing 1,149,294 1,238,659
34 Term 1,043,656 846,904
NOTE. Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July 4,
2001. Current weekly data may be found at the Federal Reserve
Bank of New York web site
(http://www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
(1) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the 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).
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1999 2000 2001
1 Federal and federally
sponsored agencies 1,616,492 1,851,632 2,121,057
2 Federal agencies 26,376 25,666 276
3 Defense Department (1) 6 6 6
4 Export-Import Bank
(2),(3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 126 255 26,828
6 Government National
Mortgage Association
certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley
Authority 26,370 25,660 270
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies (7) 1,590,116 1,825,966 2,120,781
11 Federal Home Loan
Banks 529,005 594,404 623,740
12 Federal Home Loan
Mortgage Corporation 360,711 426,899 565,071
13 Federal National
Mortgage Association 547,619 642,700 763,500
14 Farm Credit Banks (8) 68,883 74,181 76,673
15 Student Loan Marketing
Association (9) 41,988 45,375 48,350
16 Financing Corporation
(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank
debt (13) 42,152 40,575 39,096
Lending to federal and
federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley
Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home
Administration 6,665 5,275 n.a.
26 Rural Electrification
Administration 14,085 13,126 13,876
27 Other 21,402 22,174 25,220
2002
Agency 2002 Aug. Sept.
1 Federal and federally
sponsored agencies n.a. 2,226,713 2,269,256
2 Federal agencies n.a. 164 304
3 Defense Department (1) n.a. 6 6
4 Export-Import Bank
(2),(3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) n.a. 26,274 27,170
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 n.a. 158 298
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies (7) 2,351,037 2,226,549 2,268,952
11 Federal Home Loan
Banks 674,841 659,258 668,703
12 Federal Home Loan
Mortgage Corporation 648,894 603,135 623,267
13 Federal National
Mortgage Association 851,000 789,900 800,300
14 Farm Credit Banks (8) 85,088 81,658 82,741
15 Student Loan Marketing
Association (9) 47,900 49,500 50,800
16 Financing Corporation
(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank
debt (13) n.a. 42,825 39,604
Lending to federal and
federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley
Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home
Administration n.a. n.a. n.a.
26 Rural Electrification
Administration n.a. 13,599 14,029
27 Other n.a. 29,226 25,575
2002
Agency Oct. Nov. Dec.
1 Federal and federally
sponsored agencies 2,289,622 2,305,945 n.a.
2 Federal agencies 318 342 n.a.
3 Defense Department (1) 6 6 n.a.
4 Export-Import Bank
(2),(3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 26,725 26,863 n.a.
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 312 336 n.a.
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies (7) 2,289,304 2,305,607 2,351,037
11 Federal Home Loan
Banks 679,209 674,847 674,841
12 Federal Home Loan
Mortgage Corporation 625,328 643,201 648,894
13 Federal National
Mortgage Association 804,800 811,700 851,000
14 Farm Credit Banks (8) 83,145 83,884 85,088
15 Student Loan Marketing
Association (9) 54,200 48,700 47,900
16 Financing Corporation
(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank
debt (13) 37,084 37,418 n.a.
Lending to federal and
federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley
Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home
Administration n.a. n.a. n.a.
26 Rural Electrification
Administration 14,058 14,209 n.a.
27 Other 23,026 23,209 n.a.
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt
beginning Oct. 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance claims. Once issued, these securities
may be sold privately on the securities market.
(5.) Certificates of participation issued before fiscal year 1969 by
the Government National Mortgage Association acting as trustee for
the Farmers Home Administration; the Department of Health, Education,
and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes, bonds, and
debentures. Includes Federal Agriculture Mortgage Corporation;
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, which is shown on line 17.
(9.) Before late 1982, the association obtained financing through
the Federal Financing Bank (FFB). Borrowing excludes that
obtained from the FFB, which is shown on line 22.
(10.) The Financing Corporation, established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11.) The Farm Credit Financial Assistance Corporation, established
in January 1988 to provide assistance to the Farm Credit System,
undertook its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989, undertook
its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by
other federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included
in the main portion of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans;
the latter are loans guaranteed by numerous agencies, with the
amounts guaranteed by any one agency generally being small. The
Farmers Home Administration entry consists exclusively of agency
assets, whereas the Rural Electrification Administration entry
consists of both agency assets and guaranteed loans.
Securities Markets and Corporate Finance
1.45 NEW SECURITY ISSUES State and Local Governments
Millions of dollars
2002
Type of issue or issuer,
or use 2000 2001 2002 July
1 All issues, new and
refunding (1) 180,403 291,937 364,030 28,113
By type of issue
2 General obligation 64,475 118,554 145,323 12,352
3 Revenue 115,928 170,047 214,788 15,642
By type of issuer
4 State 19,944 30,099 33,931 3,404
5 Special district or statutory
authority (2) 121,185 197,462 259,070 18,229
6 Municipality, county, or
township 39,273 61,040 67,121 6,361
7 Issues for new capital 154,257 200,322 243,431 19,872
By use of proceeds
8 Education 38,665 50,054 57,894 4,205
9 Transportation 19,730 21,411 22,093 3,251
10 Utilities and conservation 11,917 21,917 33,404 1,660
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 7,122 6,607 7,227 760
13 Other purposes 47,309 55,733 73,033 5,893
2002
Type of issue or issuer,
or use Aug. Sept. Oct. Nov.
1 All issues, new and
refunding (1) 31,691 27,422 44,574 37,188
By type of issue
2 General obligation 13,187 9,628 18,595 11,023
3 Revenue 18,692 17,751 24,074 24,942
By type of issuer
4 State 3,472 2,442 4,199 2,109
5 Special district or statutory
authority (2) 23,104 19,171 31,793 28,296
6 Municipality, county, or
township 5,302 5,767 6,678 5,570
7 Issues for new capital 20,632 15,140 30,230 26,563
By use of proceeds
8 Education 3,968 3,529 5,209 3,743
9 Transportation 4,413 1,398 1,476 1,250
10 Utilities and conservation 2,806 2,038 6,922 8,379
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 283 574 1,225 821
13 Other purposes 6,537 5,597 6,996 7,189
2002 2003
Type of issue or issuer,
or use Dec. Jan. Feb.
1 All issues, new and
refunding (1) 27,549 26,731 29,928
By type of issue
2 General obligation 8,431 8,112 12,723
3 Revenue 18,961 17,049 17,206
By type of issuer
4 State 1,670 1,927 3,404
5 Special district or statutory
authority (2) 20,151 17,979 20,892
6 Municipality, county, or
township 5,570 5,290 5,632
7 Issues for new capital 19,888 18,645 20,196
By use of proceeds
8 Education 5,292 4,823 5,908
9 Transportation 1,060 1,417 1,618
10 Utilities and conservation 2,031 2,196 173
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 726 422 1,022
13 Other purposes 4,992 7,400 8,340
(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
2002
Type of issue, offering,
or issuer 2000 2001 2002 June
1 All issues (1) 1,079,727 1,541,821 1,429,298 149,753
2 Bonds (2) 944,810 1,413,267 1,318,863 133,217
By type of offering
3 Sold in the United
States 822,012 1,356,879 1,232,618 121,491
4 Sold abroad 122,798 56,389 86,246 11,725
MEMO
5 Private placements,
domestic 18,370 8,734 n.a. 3,068
By industry group
6 Nonfinancial 258,804 459,560 282,484 27,693
7 Financial 686,006 953,707 1,036,379 105,524
8 Stocks (3) 311,941 230,632 170,673 16,536
By type of offering
9 Public 134,917 128,554 110,435 16,536
10 Private placement (4) 177,024 102,078 60,238 n.a.
By industry group
11 Nonfinancial 118,369 77,577 62,115 11,608
12 Financial 16,548 50,977 48,320 4,928
2002
Type of issue, offering,
or issuer July Aug. Sept. Oct.
1 All issues (1) 68,426 97,665 135,176 93,439
2 Bonds (2) 63,912 93,659 127,881 85,606
By type of offering
3 Sold in the United
States 60,549 90,215 123,449 81,409
4 Sold abroad 3,362 3,444 4,432 4,197
MEMO
5 Private placements,
domestic 0 0 65 0
By industry group
6 Nonfinancial 7,624 14,960 19,988 14,906
7 Financial 56,288 78,699 107,893 70,700
8 Stocks (3) 4,514 4,006 7,295 7,833
By type of offering
9 Public 4,514 4,006 7,295 7,833
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 1,833 539 2,754 3,731
12 Financial 2,681 3,467 4,541 4,102
2002 2003
Type of issue, offering,
or issuer Nov. Dec. Jan.
1 All issues (1) 119,659 127,061 123,736
2 Bonds (2) 109,726 120,183 116,609
By type of offering
3 Sold in the United
States 104,112 114,332 110,383
4 Sold abroad 5,614 5,851 6,226
MEMO
5 Private placements,
domestic 3,525 5,060 (r) 4,700
By industry group
6 Nonfinancial 22,029 20,751 28,461
7 Financial 87,697 99,433 88,148
8 Stocks (3) 9,933 6,878 7,127
By type of offering
9 Public 9,933 6,878 7,127
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,533 4,154 3,793
12 Financial 5,400 2,724 3,334
(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 for private placements are not available at a monthly
frequency.
SOURCE. Securities Data Company and the Board of Governors
of the Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets (1)
Millions of dollars
2002
Item 2001 2002 July Aug.
1 Sales of own shares
(2) 1,806,474 1,826,045 170,946 151,136
2 Redemptions of own
shares 1,677,266 1,702,671 200,148 136,210
3 Net sales (3) 129,208 123,374 -29,202 14,926
4 Assets (4) 4,689,624 4,119,322 4,124,186 4,170,641
5 Cash (5) 219,620 208,479 199,586 220,425
6 Other 4,470,004 3,910,843 3,924,600 3,950,216
2002
Item Sept. Oct. Nov.
1 Sales of own shares
(2) 125,408 164,959 137,914
2 Redemptions of own
shares 126,760 167,039 122,125
3 Net sales (3) -1,352 -2,080 15,789
4 Assets (4) 3,899,858 4,059,765 4,249,351
5 Cash (5) 199,778 204,019 219,213
6 Other 3,700,080 3,855,746 4,030,138
2002 2003
Item Dec. Jan. (r) Feb.
1 Sales of own shares
(2) 134,383 152,647 121,632
2 Redemptions of own
shares 135,213 138,951 113,018
3 Net sales (3) -830 13,696 8,614
4 Assets (4) 4,119,322 4,060,568 4,032,773
5 Cash (5) 208,479 212,792 200,060
6 Other 3,910,843 3,847,776 3,832,713
(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 funds within
the same fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term debt
securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission. Data
reflect underwritings of newly formed companies after their initial
offering of securities.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
2001
Account 2000 2001 2002 Q2
ASSETS
1 Accounts receivable, gross
(2) 959.4 948.5 945.5 988.9
2 Consumer 328.7 340.2 315.7 324.7
3 Business 458.4 447.0 455.3 481.9
4 Real estate 172.3 161.3 174.5 182.3
5 Less: Reserves for unearned
income 69.8 60.6 57.7 61.6
6 Reserves for losses 16.7 21.0 24.0 17.4
7 Accounts receivable, net 872.9 866.8 863.8 909.9
8 All other 461.2 523.4 588.5 458.9
9 Total assets 1,334.1 1,390.2 1,452.3 1,368.8
LIABILITIES AND CAPITAL
10 Bank loans 35.9 50.8 57.6 45.3
11 Commercial paper 238.8 158.6 141.5 181.6
Debt
12 Owed to parent 102.6 99.2 87.5 93.4
13 Not elsewhere classified 502.3 567.4 621.3 542.2
14 All other liabilities 301.9 325.6 336.6 336.4
15 Capital, surplus, and
undivided profits 152.5 188.7 207.9 170.0
16 Total liabilities and
capital 1,334.1 1,390.2 1,452.3 1,368.8
2001 2002
Account Q3 Q4 Q1
ASSETS
1 Accounts receivable, gross
(2) 967.9 948.5 930.1
2 Consumer 329.4 340.2 329.9
3 Business 451.1 447.0 443.0
4 Real estate 187.4 161.3 157.2
5 Less: Reserves for unearned
income 60.8 60.6 59.5
6 Reserves for losses 18.0 21.0 21.5
7 Accounts receivable, net 889.1 866.8 849.1
8 All other 478.7 523.4 515.2
9 Total assets 1,367.8 1,390.2 1,364.3
LIABILITIES AND CAPITAL
10 Bank loans 44.5 50.8 49.4
11 Commercial paper 171.0 158.6 137.0
Debt
12 Owed to parent 91.7 99.2 82.6
13 Not elsewhere classified 555.8 567.4 574.5
14 All other liabilities 327.6 325.6 329.2
15 Capital, surplus, and
undivided profits 177.2 188.7 191.7
16 Total liabilities and
capital 1,367.8 1,390.2 1,364.3
2002
Account Q2 Q3 Q4
ASSETS
1 Accounts receivable, gross
(2) 942.1 945.8 945.5
2 Consumer 332.1 334.7 315.7
3 Business 449.4 445.5 455.3
4 Real estate 160.5 165.5 174.5
5 Less: Reserves for unearned
income 58.5 58.0 57.7
6 Reserves for losses 21.6 22.1 24.0
7 Accounts receivable, net 862.0 865.7 863.8
8 All other 530.5 558.0 588.5
9 Total assets 1,392.5 1,423.7 1,452.3
LIABILITIES AND CAPITAL
10 Bank loans 56.9 74.9 57.6
11 Commercial paper 130.8 143.1 141.5
Debt
12 Owed to parent 83.3 82.9 87.5
13 Not elsewhere classified 597.2 584.9 621.3
14 All other liabilities 331.5 343.4 336.6
15 Capital, surplus, and
undivided profits 192.9 194.5 207.9
16 Total liabilities and
capital 1,392.5 1,423.7 1,452.3
(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
2002
Type of credit 2000 2001 2002 (r)
Seasonally adjusted
1 Total 1,186.3 (r) 1,246.7 (r) 1,270.3
2 Consumer 465.1 (r) 513.4 (r) 513.3
3 Real estate 198.9 207.7 216.5
4 Business 522.3 (r) 525.6 (r) 540.6
Not seasonally adjusted
5 Total 1,192.9 (r) 1,253.9 (r) 1,277.7
6 Consumer 469.0 (r) 518.3 (r) 518.5
7 Motor vehicle loans 141.6 173.9 160.2
8 Motor vehicle leases 108.2 103.5 83.3
9 Revolving (2) 38.3 (r) 31.7 (r) 39.1
10 Other (3) 40.7 31.1 33.1
Securitized assets (4)
11 Motor vehicle loans 97.1 131.9 151.9
12 Motor vehicle leases 6.6 6.8 5.7
13 Revolving 19.6 25.0 31.1
14 Other 17.1 14.3 14.0
15 Real estate 198.9 207.7 216.5
16 One- to four-family 130.6 120.1 135.0
17 Other 41.7 41.2 39.5
Securitized real estate
assets (4)
18 One- to four-family 24.7 40.7 39.7
19 Other 1.9 5.7 2.2
20 Business 525.0 527.9 542.7
21 Motor vehicles 75.5 54.0 60.7
22 Retail loans 18.3 16.1 15.4
23 Wholesale loans (5) 39.7 20.3 29.3
24 Leases 17.6 17.6 16.0
25 Equipment 283.5 289.4 292.1
26 Loans 70.2 77.8 83.3
27 Leases 213.3 211.6 208.8
28 Other business
receivables (6) 99.4 103.5 102.5
Securitized assets (4)
29 Motor vehicles 37.8 50.1 50.2
30 Retail loans 3.2 5.1 2.4
31 Wholesale loans 32.5 42.5 45.9
32 Leases 2.2 2.5 1.9
33 Equipment 23.1 23.2 20.2
34 Loans 15.5 16.4 13.0
35 Leases 7.6 6.8 7.2
36 Other business
receivables (6) 5.6 7.7 17.1
2002
Type of credit Aug. (r) Sept. (r) Oct. (r)
Seasonally adjusted
1 Total 1,269.9 1,267.2 1,266.4
2 Consumer 524.7 523.0 517.7
3 Real estate 209.6 207.9 211.7
4 Business 535.5 536.2 537.0
Not seasonally adjusted
5 Total 1,261.2 1,260.9 1,263.6
6 Consumer 525.2 523.0 519.0
7 Motor vehicle loans 170.3 176.5 169.9
8 Motor vehicle leases 90.5 88.5 86.7
9 Revolving (2) 36.7 37.4 37.5
10 Other (3) 33.0 32.3 31.3
Securitized assets (4)
11 Motor vehicle loans 144.4 138.9 144.1
12 Motor vehicle leases 6.0 6.0 5.9
13 Revolving 29.9 29.1 29.2
14 Other 14.4 14.4 14.4
15 Real estate 209.6 207.9 211.7
16 One- to four-family 128.7 126.5 130.5
17 Other 38.8 39.0 39.0
Securitized real estate
assets (4)
18 One- to four-family 40.4 40.1 40.1
19 Other 1.7 2.2 2.2
20 Business 526.4 530.0 532.9
21 Motor vehicles 56.0 56.9 57.3
22 Retail loans 17.2 17.6 18.0
23 Wholesale loans (5) 22.2 23.3 23.5
24 Leases 16.6 15.9 15.9
25 Equipment 287.5 289.2 288.4
26 Loans 81.4 82.8 81.9
27 Leases 206.1 206.4 206.5
28 Other business
receivables (6) 99.8 99.4 97.0
Securitized assets (4)
29 Motor vehicles 41.0 43.8 47.0
30 Retail loans 2.2 2.2 1.9
31 Wholesale loans 36.5 39.3 42.8
32 Leases 2.3 2.3 2.3
33 Equipment 22.0 21.6 23.9
34 Loans 15.4 14.8 17.2
35 Leases 6.6 6.7 6.7
36 Other business
receivables (6) 20.1 19.1 19.2
2002 2003
Type of credit Nov. (r) Dec. (r) Jan.
Seasonally adjusted
1 Total 1,270.3 1,270.3 1,276.0
2 Consumer 513.8 513.3 518.2
3 Real estate 214.2 216.5 217.0
4 Business 542.3 540.6 540.8
Not seasonally adjusted
5 Total 1,268.0 1,277.7 1,278.6
6 Consumer 517.7 518.5 519.5
7 Motor vehicle loans 159.8 160.2 160.1
8 Motor vehicle leases 85.2 83.3 81.9
9 Revolving (2) 37.2 39.1 39.6
10 Other (3) 31.4 33.1 33.3
Securitized assets (4)
11 Motor vehicle loans 153.9 151.9 154.3
12 Motor vehicle leases 5.8 5.7 5.7
13 Revolving 30.2 31.1 30.4
14 Other 14.2 14.0 14.2
15 Real estate 214.2 216.5 217.0
16 One- to four-family 132.8 135.0 135.9
17 Other 39.3 39.5 39.4
Securitized real estate
assets (4)
18 One- to four-family 39.9 39.7 39.4
19 Other 2.2 2.2 2.2
20 Business 536.1 542.7 542.1
21 Motor vehicles 58.2 60.7 58.6
22 Retail loans 15.7 15.4 15.2
23 Wholesale loans (5) 26.7 29.3 27.5
24 Leases 15.8 16.0 15.9
25 Equipment 288.4 292.1 291.3
26 Loans 82.2 83.3 83.8
27 Leases 206.2 208.8 207.5
28 Other business
receivables (6) 95.7 102.5 104.7
Securitized assets (4)
29 Motor vehicles 50.4 50.2 50.3
30 Retail loans 2.5 2.4 2.4
31 Wholesale loans 45.6 45.9 46.1
32 Leases 2.3 1.9 1.8
33 Equipment 24.3 20.2 20.1
34 Loans 17.6 13.0 12.9
35 Leases 6.7 7.2 7.2
36 Other business
receivables (6) 19.2 17.1 17.1
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables
to the June 1996 Survey of Finance Companies. In that benchmark
survey, and in the monthly surveys that have followed, more
detailed breakdowns have been obtained for some components.
In addition, previously unavailable data on securitized real
estate loans are now included in this table. The new information
has resulted in some reclassification of receivables among the
three major categories (consumer, real estate, and business) and
in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies
but not of retailers and banks. Data in this table also appear
in the Board's G.20 (422) monthly statistical release. For
ordering address, see inside front cover.
(1.) Owned receivables are those carried on the balance sheet
of the institution. Managed receivables are outstanding balances
of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
Data are shown before deductions for unearned income and losses.
Components may not sum to totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans
to purchase other types of consumer goods, such as appliances,
apparel, boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have
been issued; these balances are no longer carried on the balance
sheets of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans
used primarily for business or farm purposes; and wholesale and
lease paper for mobile homes, campers, and travel trailers.
Real State
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
Item 2000 2001 2002
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 234.5 245.0 261.1
2 Amount of loan (thousands of
dollars) 177.0 184.2 197.0
3 Loan-to-price ratio (percent) 77.4 77.3 77.8
4 Maturity (years) 29.2 28.8 28.9
5 Fees and charges (percent of
loan amount) (2) .70 .67 .62
Yield (percent per year)
6 Contract rate (1) 7.41 6.90 6.35
7 Effective rate (1),(3) 7.52 7.00 6.44
8 Contract rate (HUD series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 7.57 6.36 5.81
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of period)
11 Total 610,122 707,015 790,800
12 FHA/VA insured 61,539 n.a. n.a.
13 Conventional 548,583 n.a. n.a.
14 Mortgage transactions purchased
(during period) 154,231 270,384 370,641
Mortgage commitments (during
period)
15 Issued (7) 163,689 304,084 400,327
16 To sell (8) 11,786 7,586 12,268
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 385,693 491,719 568,173
18 FHA/VA insured 3,332 3,506 4,573
19 Conventional 382,361 488,213 563,600
Mortgage transactions (during
period)
20 Purchases 174,043 n.a. n.a.
21 Sales 166,901 389,611 547,046
22 Mortgage commitments contracted
(during period) (9) 169,231 417,434 615,981
2002
Item Aug. Sept. Oct.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 267.5 266.7 258.7
2 Amount of loan (thousands of
dollars) 199.1 201.1 195.0
3 Loan-to-price ratio (percent) 77.3 77.6 77.7
4 Maturity (years) 29.0 29.1 28.8
5 Fees and charges (percent of
loan amount) (2) .59 .60 .63
Yield (percent per year)
6 Contract rate (1) 6.17 6.09 6.00
7 Effective rate (1),(3) 6.26 6.17 6.09
8 Contract rate (HUD series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 5.53 5.15 5.31
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of period)
11 Total 746,101 751,423 751,347
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions purchased
(during period) 23,123 33,518 32,853
Mortgage commitments (during
period)
15 Issued (7) 42,555 58,055 68,463
16 To sell (8) 1,292 1,016 1,121
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 525,795 530,694 536,389
18 FHA/VA insured 4,195 4,634 4,724
19 Conventional 521,600 526,060 531,665
Mortgage transactions (during
period)
20 Purchases n.a. n.a. n.a.
21 Sales 34,937 46,369 60,516
22 Mortgage commitments contracted
(during period) (9) 44,401 57,793 73,639
2002
Item Nov. Dec.
Terms and yields
in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 256.7 266.9
2 Amount of loan (thousands of
dollars) 193.3 205.1
3 Loan-to-price ratio (percent) 77.4 79.0
4 Maturity (years) 28.4 28.7
5 Fees and charges (percent of
loan amount) (2) .61 .64
Yield (percent per year)
6 Contract rate (1) 5.99 5.95
7 Effective rate (1),(3) 6.08 6.04
8 Contract rate (HUD series) (4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a.
10 GNMA securities (6) 5.29 5.17
Activity in
secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of period)
11 Total 760,759 790,800
12 FHA/VA insured n.a. n.a.
13 Conventional n.a. n.a.
14 Mortgage transactions purchased
(during period) 47,807 67,891
Mortgage commitments (during
period)
15 Issued (7) 53,286 30,769
16 To sell (8) 520 1,555
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 549,380 568,173
18 FHA/VA insured 4,019 4,573
19 Conventional 545,361 563,600
Mortgage transactions (during
period)
20 Purchases n.a. n.a.
21 Sales 62,354 73,184
22 Mortgage commitments contracted
(during period) (9) 74,340 91,223
2003
Item Jan. Feb.
Terms and yields
in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 278.9 235.1
2 Amount of loan (thousands of
dollars) 214.0 179.3
3 Loan-to-price ratio (percent) 79.3 78.0
4 Maturity (years) 28.9 28.3
5 Fees and charges (percent of
loan amount) (2) .79 .37
Yield (percent per year)
6 Contract rate (1) 6.00 5.76
7 Effective rate (1),(3) 6.12 5.82
8 Contract rate (HUD series) (4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a. n.a.
10 GNMA securities (6) 5.18 5.03
Activity in
secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of period)
11 Total 810,609 816,747
12 FHA/VA insured n.a. n.a.
13 Conventional n.a. n.a.
14 Mortgage transactions purchased
(during period) 57,281 40,420
Mortgage commitments (during
period)
15 Issued (7) n.a. n.a.
16 To sell (8) n.a. n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 568,494 561,534
18 FHA/VA insured n.a. n.a.
19 Conventional n.a. n.a.
Mortgage transactions (during
period)
20 Purchases n.a. n.a.
21 Sales 48,169 41,831
22 Mortgage commitments contracted n.a. n.a.
(during period) (9)
(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 (l)
Millions of dollars, end of period
Type of holder and property 1999 2000 2001
1 All holders 6,320,135 6,894,097 7,597,732
By type of property
2 One- to four-family residences 4,790,601 5,208,604 5,738,228
3 Multifamily residences 369,003 405,430 453,100
4 Nonfarm, nonresidential 1,057,568 1,171,205 1,290,069
5 Farm 102,964 108,858 116,336
By type of holder
6 Major financial institutions 2,394,271 2,618,969 2,791,076
7 Commercial banks (2) 1,495,420 1,660,054 1,789,819
8 One- to four-family 879,576 965,635 1,023,851
9 Multifamily 67,665 77,803 84,851
10 Nonfarm, nonresidential 516,333 582,577 645,619
11 Farm 31,846 34,039 35,498
12 Savings institutions (3) 668,064 722,974 758,236
13 One- to four-family 548,222 594,221 620,579
14 Multifamily 59,309 61,258 64,592
15 Nonfarm, nonresidential 60,063 66,965 72,534
16 Farm 470 529 531
17 Life insurance companies 230,787 235,941 243,021
18 One- to four-family 5,934 4,903 4,931
19 Multifamily 32,818 33,681 35,631
20 Nonfarm, nonresidential 179,048 183,757 188,376
21 Farm 12,987 13,600 14,083
22 Federal and related agencies 320,054 344,225 376,999
23 Government National Mortgage
Association 7 6 8
24 One- to four-family 7 6 8
25 Multifamily 0 0 0
26 Farmers Home Administration
(4) 73,871 73,323 72,452
27 One- to four-family 16,506 16,372 15,824
28 Multifamily 11,741 11,733 11,712
29 Nonfarm, nonresidential 41,355 41,070 40,965
30 Farm 4,268 4,148 3,952
31 Federal Housing Admin. and
Dept. of Veterans Affairs 3,712 3,507 3,290
32 One- to four-family 1,851 1,308 1,260
33 Multifamily 1,861 2,199 2,031
34 Resolution Trust Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 152 45 13
40 One- to four-family 25 7 2
41 Multifamily 29 9 3
42 Nonfarm, nonresidential 98 29 8
43 Farm 0 0 0
44 Federal National Mortgage
Association 149,422 155,626 169,908
45 One- to four-family 141,195 144,150 155,060
46 Multifamily 8,227 11,476 14,848
47 Federal Land Banks 34,187 36,326 40,885
48 One- to four-family 2,012 2,137 2,406
49 Farm 32,175 34,189 38,479
50 Federal Home Loan Mortgage
Corporation 56,676 59,240 62,792
51 One- to four-family 44,321 42,871 40,309
52 Multifamily 12,355 16,369 22,483
53 Mortgage pools or trusts (5) 2,947,690 3,231,401 3,714,706
54 Government National Mortgage
Association 582,263 611,553 591,368
55 One- to four-family 565,189 592,624 569,460
56 Multifamily 17,074 18,929 21,908
57 Federal Home Loan Mortgage
Corporation 749,081 822,310 948,409
58 One- to four-family 744,619 816,602 940,933
59 Multifamily 4,462 5,708 7,476
60 Federal National Mortgage
Association 960,883 1,057,750 1,290,351
61 One- to four-family 924,941 1,016,398 1,238,125
62 Multifamily 35,942 41,352 52,226
63 Farmers Home Administration
(4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 655,463 739,788 884,578
69 One- to four-family (6) 455,021 499,834 591,200
70 Multifamily 42,045 48,894 56,591
71 Nonfarm, nonresidential 158,398 191,060 236,787
72 Farm 0 0 0
73 Individuals and others (7) 658,120 699,503 714,950
74 One- to four-family 459,385 495,605 506,786
75 Multifamily 75,244 75,799 78,593
76 Nonfarm, nonresidential 102,274 105,747 105,780
77 Farm 21,217 22,352 23,792
2001 2002
Type of holder and property Q4 Q1 Q2
1 All holders 7,597,732 7,763,084 7,978,272
By type of property
2 One- to four-family residences 5,738,228 5,876,695 6,048,445
3 Multifamily residences 453,100 461,198 472,262
4 Nonfarm, nonresidential 1,290,069 1,307,076 1,337,136
5 Farm 116,336 118,116 120,428
By type of holder
6 Major financial institutions 2,791,076 2,789,654 2,860,853
7 Commercial banks (2) 1,789,819 1,800,362 1,873,203
8 One- to four-family 1,023,851 1,018,478 1,070,522
9 Multifamily 84,851 86,719 90,743
10 Nonfarm, nonresidential 645,619 659,187 674,972
11 Farm 35,498 35,978 36,966
12 Savings institutions (3) 758,236 745,998 742,732
13 One- to four-family 620,579 605,171 599,402
14 Multifamily 64,592 65,199 66,009
15 Nonfarm, nonresidential 72,534 75,077 76,768
16 Farm 531 551 552
17 Life insurance companies 243,021 243,293 244,918
18 One- to four-family 4,931 4,938 5,162
19 Multifamily 35,631 35,671 35,818
20 Nonfarm, nonresidential 188,376 188,599 189,850
21 Farm 14,083 14,085 14,088
22 Federal and related agencies 376,999 385,027 396,091
23 Government National Mortgage
Association 8 8 8
24 One- to four-family 8 8 8
25 Multifamily 0 0 0
26 Farmers Home Administration
(4) 72,452 72,362 71,970
27 One- to four-family 15,824 15,665 15,273
28 Multifamily 11,712 11,707 11,692
29 Nonfarm, nonresidential 40,965 41,134 41,188
30 Farm 3,952 3,855 3,817
31 Federal Housing Admin. and
Dept. of Veterans Affairs 3,290 3,361 3,473
32 One- to four-family 1,260 1,255 1,254
33 Multifamily 2,031 2,105 2,218
34 Resolution Trust Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 13 7 22
40 One- to four-family 2 1 4
41 Multifamily 3 1 4
42 Nonfarm, nonresidential 8 4 14
43 Farm 0 0 0
44 Federal National Mortgage
Association 169,908 176,051 180,491
45 One- to four-family 155,060 160,300 164,038
46 Multifamily 14,848 15,751 16,453
47 Federal Land Banks 40,885 41,981 42,951
48 One- to four-family 2,406 2,470 2,527
49 Farm 38,479 39,511 40,424
50 Federal Home Loan Mortgage
Corporation 62,792 59,624 58,872
51 One- to four-family 40,309 35,955 34,062
52 Multifamily 22,483 23,669 24,810
53 Mortgage pools or trusts (5) 3,714,706 3,869,374 3,986,827
54 Government National Mortgage
Association 591,368 587,204 583,745
55 One- to four-family 569,460 564,108 559,549
56 Multifamily 21,908 23,096 24,196
57 Federal Home Loan Mortgage
Corporation 948,409 1,012,478 1,053,261
58 One- to four-family 940,933 1,005,136 1,045,981
59 Multifamily 7,476 7,342 7,280
60 Federal National Mortgage
Association 1,290,351 1,355,404 1,404,594
61 One- to four-family 1,238,125 1,301,374 1,349,442
62 Multifamily 52,226 54,030 55,152
63 Farmers Home Administration
(4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 884,578 914,288 945,227
69 One- to four-family (6) 591,200 616,300 638,300
70 Multifamily 56,591 57,339 58,783
71 Nonfarm, nonresidential 236,787 240,649 248,144
72 Farm 0 0 0
73 Individuals and others (7) 714,950 719,029 734,502
74 One- to four-family 506,786 514,043 524,741
75 Multifamily 78,593 78,426 78,979
76 Nonfarm, nonresidential 105,780 102,425 106,201
77 Farm 23,792 24,135 24,581
2002
Type of holder and property Q3 Q4 (p)
1 All holders 8,2O9,225 8,476,304
By type of property
2 One- to four-family residences 6,245,941 6,459,659
3 Multifamily residences 479,919 496,733
4 Nonfarm, nonresidential 1,359,812 1,394,692
5 Farm 123,553 125,220
By type of holder
6 Major financial institutions 2,981,236 3,087,646
7 Commercial banks (2) 1,961,908 2,059,079
8 One- to four-family 1,143,938 1,222,461
9 Multifamily 90,929 94,169
10 Nonfarm, nonresidential 689,288 704,454
11 Farm 37,753 37,995
12 Savings institutions (3) 773,689 781,255
13 One- to four-family 625,424 631,399
14 Multifamily 68,668 67,840
15 Nonfarm, nonresidential 79,036 81,435
16 Farm 560 581
17 Life insurance companies 245,639 247,312
18 One- to four-family 5,176 5,210
19 Multifamily 35,921 36,161
20 Nonfarm, nonresidential 190,398 191,666
21 Farm 14,144 14,275
22 Federal and related agencies 412,014 437,100
23 Government National Mortgage
Association 8 5
24 One- to four-family 8 5
25 Multifamily 0 0
26 Farmers Home Administration
(4) 72,030 72,377
27 One- to four-family 15,139 14,908
28 Multifamily 11,686 11,669
29 Nonfarm, nonresidential 41,439 42,101
30 Farm 3,766 3,700
31 Federal Housing Admin. and
Dept. of Veterans Affairs 2,973 3,854
32 One- to four-family 1,252 1,262
33 Multifamily 1,721 2,592
34 Resolution Trust Corporation 0 0
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 13 46
40 One- to four-family 2 7
41 Multifamily 2 9
42 Nonfarm, nonresidential 8 30
43 Farm 0 0
44 Federal National Mortgage
Association 184,191 190,501
45 One- to four-family 167,006 171,490
46 Multifamily 17,185 19,011
47 Federal Land Banks 44,782 45,863
48 One- to four-family 2,635 2,699
49 Farm 42,147 43,164
50 Federal Home Loan Mortgage
Corporation 60,934 63,887
51 One- to four-family 34,616 35,851
52 Multifamily 26,318 28,036
53 Mortgage pools or trusts (5) 4,065,965 4,182,833
54 Government National Mortgage
Association 567,428 537,927
55 One- to four-family 542,250 512,137
56 Multifamily 25,178 25,790
57 Federal Home Loan Mortgage
Corporation 1,058,176 1,082,062
58 One- to four-family 1,050,899 1,072,990
59 Multifamily 7,277 9,072
60 Federal National Mortgage
Association 1,458,945 1,538,287
61 One- to four-family 1,402,929 1,478,610
62 Multifamily 56,016 59,677
63 Farmers Home Administration
(4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 981,416 1,024,557
69 One- to four-family (6) 669,300 694,800
70 Multifamily 59,446 62,987
71 Nonfarm, nonresidential 252,669 266,770
72 Farm 0 0
73 Individuals and others (7) 750,010 768,724
74 One- to four-family 538,393 555,356
75 Multifamily 79,462 79,627
76 Nonfarm, nonresidential 106,973 108,237
77 Farm 25,183 25,504
(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 (l)
Millions of dollars, amounts outstanding, end of period
Holder and type
of credit 2000 2001 2002 (r)
Seasonally adjusted
1 Total 1,559,469 (r) 1,666,816 (r) 1,726,401
2 Revolving 667,332 (r) 701,285 (r) 712,398
3 Nonrevolving (2) 892,137 (r) 965,531 (r) 1,014,002
Not seasonally adjusted
4 Total 1,593,051 (r) 1,701,856 1,762,262
By major holder
5 Commercial banks 541,470 558,421 587,355
6 Finance companies 219,783 (r) 236,559 232,269
7 Credit unions 184,434 189,570 195,744
8 Savings institutions 64,557 69,070 68,591
9 Nonfinancial business 82,662 67,955 56,912
10 Pools of securitized
assets (3) 500,145 580,281 621,391
By major type of credit
(4)
11 Revolving 692,955 (r) 727,297 738,404
12 Commercial banks 218,063 224,878 231,449
13 Finance companies 37,561 (r) 31,538 38,948
14 Credit unions 22,226 22,265 22,228
15 Savings institutions 16,560 17,767 16,193
16 Nonfinancial business 42,430 29,790 19,221
17 Pools of securitized
assets (3) 356,114 401,059 410,365
18 Nonrevolving 900,095 974,559 1,023,858
19 Commercial banks 323,407 333,543 355,906
20 Finance companies 182,221 205,021 193,321
21 Credit unions 162,208 167,305 173,516
22 Savings institutions 47,997 51,303 52,398
23 Nonfinancial business 40,232 38,165 37,691
24 Pools of securitized
assets (3) 144,031 179,222 211,026
2002
Holder and type
of credit Aug. (r) Sept. (r) Oct. (r)
Seasonally adjusted
1 Total 1,725,418 1,726,912 1,727,992
2 Revolving 720,651 717,653 717,279
3 Nonrevolving (2) 1,004,766 1,009,260 1,010,713
Not seasonally adjusted
4 Total 1,724,225 1,721,809 1,727,420
By major holder
5 Commercial banks 572,443 575,730 577,428
6 Finance companies 239,857 246,072 238,571
7 Credit unions 195,488 195,884 197,072
8 Savings institutions 70,055 65,094 66,272
9 Nonfinancial business 52,101 49,170 49,075
10 Pools of securitized
assets (3) 594,281 589,859 599,003
By major type of credit
(4)
11 Revolving 718,353 711,670 710,701
12 Commercial banks 224,695 226,193 224,897
13 Finance companies 36,528 37,280 37,351
14 Credit unions 21,449 21,304 21,119
15 Savings institutions 17,869 14,758 15,242
16 Nonfinancial business 16,747 14,129 14,100
17 Pools of securitized
assets (3) 401,064 398,005 397,992
18 Nonrevolving 1,005,872 1,010,139 1,016,719
19 Commercial banks 347,748 349,537 352,531
20 Finance companies 203,329 208,792 201,219
21 Credit unions 174,039 174,580 175,953
22 Savings institutions 52,186 50,335 51,031
23 Nonfinancial business 35,354 35,041 34,975
24 Pools of securitized
assets (3) 193,217 191,854 201,011
2002 2003
Holder and type
of credit Nov. (r) Dec. (r) Jan.
Seasonally adjusted
1 Total 1,725,125 1,726,401 1,738,729
2 Revolving 716,376 712,398 715,661
3 Nonrevolving (2) 1,008,749 1,014,002 1,023,068
Not seasonally adjusted
4 Total 1,735,697 1,762,262 1,753,711
By major holder
5 Commercial banks 580,385 587,355 582,635
6 Finance companies 228,241 232,269 230,111
7 Credit unions 196,807 195,744 195,164
8 Savings institutions 67,413 68,591 67,635
9 Nonfinancial business 49,812 56,912 52,892
10 Pools of securitized
assets (3) 613,040 621,391 625,274
By major type of credit
(4)
11 Revolving 717,668 738,404 727,120
12 Commercial banks 226,237 231,449 221,818
13 Finance companies 37,014 38,948 38,388
14 Credit unions 21,260 22,228 21,645
15 Savings institutions 15,710 16,193 15,811
16 Nonfinancial business 14,315 19,221 16,547
17 Pools of securitized
assets (3) 403,132 410,365 412,911
18 Nonrevolving 1,018,029 1,023,858 1,026,591
19 Commercial banks 354,148 355,906 360,817
20 Finance companies 191,226 193,321 191,723
21 Credit unions 175,547 173,516 173,519
22 Savings institutions 51,703 52,398 51,824
23 Nonfinancial business 35,497 37,691 36,346
24 Pools of securitized
assets (3) 209,908 211,026 212,363
(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
Item 2000 2001 2002
INTEREST RATES
Commercial banks (2)
1 48-month new car 9.34 8.50 6.71
2 24-month personal 13.90 13.22 11.59
Credit card plan
3 All accounts 15.71 14.89 13.42
4 Accounts assessed interest 14.91 14.44 13.09
Auto finance companies
5 New car 6.61 5.65 4.29
6 Used car 13.55 12.18 10.74 (r)
OTHER TERMS (3)
Maturity (months)
7 New car 54.9 55.1 56.8
8 Used car 57.0 57.5 57.5 (r)
Loan-to-value ratio
9 New car 92 91 94 (r)
10 Used car 99 100 100
Amount financed (dollars)
11 New car 20,923 22,822 24,747 (r)
12 Used car 14,058 14,416 14,532 (r)
2002
Item July Aug. Sept.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. 5.95 n.a.
2 24-month personal n.a. 11.28 n.a.
Credit card plan
3 All accounts n.a. 13.37 n.a.
4 Accounts assessed interest n.a. 13.26 n.a.
Auto finance companies
5 New car 3.58 2.17 2.29
6 Used car 10.59 10.46 10.44
OTHER TERMS (3)
Maturity (months)
7 New car 58.9 59.2 58.4
8 Used car 57.8 57.6 57.5
Loan-to-value ratio
9 New car 95 97 97
10 Used car 100 100 100
Amount financed (dollars)
11 New car 25,092 26,455 26,331
12 Used car 14,701 14,679 14,801
2002
Item Oct. (r) Nov.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. 5.67
2 24-month personal n.a. 10.78
Credit card plan
3 All accounts n.a. 13.13
4 Accounts assessed interest n.a. 12.78
Auto finance companies
5 New car 2.62 3.41 (r)
6 Used car 10.59 10.70 (r)
OTHER TERMS (3)
Maturity (months)
7 New car 57.4 57.2
8 Used car 57.4 56.9
Loan-to-value ratio
9 New car 96 95
10 Used car 101 100
Amount financed (dollars)
11 New car 26,099 26,104 (r)
12 Used car 14,702 14,610 (r)
2002 2003
Item Dec. Jan.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. n.a.
2 24-month personal n.a. n.a.
Credit card plan
3 All accounts n.a. n.a.
4 Accounts assessed interest n.a. n.a.
Auto finance companies
5 New car 3.50 3.13
6 Used car 10.48 10.37
OTHER TERMS (3)
Maturity (months)
7 New car 57.5 58.5
8 Used car 56.7 57.5
Loan-to-value ratio
9 New car 96 96
10 Used car 100 100
Amount financed (dollars)
11 New car 26,647 26,443
12 Used car 14,639 14,499
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this
table also appear in the Board's G.19 (421) monthly statistical
release. For ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
Flow of Funds
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS (1)
Billions of dollars; quarterly data at
seasonally adjusted annual rates
Transaction category or sector 1997 1998 1999 2000
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors. 789.9 1,046.2 1,031.6 840.9
By sector and instrument
2 Federal government 23.1 -52.6 -71.2 -295.9
3 Treasury securities 23.2 -54.6 -71.0 -294.9
4 Budget agency securities
and mortgages -.1 2.0 -.2 -1.0
5 Nonfederal 766.8 1,098.8 1,102.8 1,136.8
By instrument
6 Commercial paper 13.7 24.4 37.4 48.1
7 Municipal securities and
loans 56.9 84.2 54.4 23.6
8 Corporate bonds 150.5 235.2 217.8 161.3
9 Bank loans n.e.c. 106.4 108.2 82.8 101.7
10 Other loans and advances 59.5 82.1 46.0 95.0
11 Mortgages 322.3 489.8 564.9 568.2
12 Home 258.3 387.7 424.6 418.4
13 Multifamily residential 7.3 23.4 35.7 34.0
14 Commercial 53.5 72.2 98.8 109.2
15 Farm 3.1 6.5 5.8 6.5
16 Consumer credit 57.5 75.0 99.5 139.0
By borrowing sector
17 Household 332.7 454.8 498.0 546.0
18 Nonfinancial business 392.5 576.3 566.3 575.4
19 Corporate 291.6 408.6 378.5 380.4
20 Nonfarm noncorporate 94.7 159.7 182.4 184.1
21 Farm 6.2 8.0 5.5 10.9
22 State and local government 41.5 67.7 38.5 15.5
23 Foreign net borrowing in
United States 71.8 43.2 25.2 65.7
24 Commercial paper 3.7 7.8 16.3 31.7
25 Bonds 61.4 34.9 14.1 23.9
26 Bank loans n.e.c. 8.5 6.6 0.5 11.4
27 Other loans and advances -1.8 -6.0 -5.7 -1.3
28 Total domestic plus foreign 861.7 1,089.4 1,056.7 906.6
Financial sectors
29 Total net borrowing by
financial sectors 662.2 1,087.2 1,073.3 809.0
By instrument
30 Federal government-related 212.9 470.9 592.0 433.5
31 Government-sponsored
enterprise securities 98.4 278.3 318.2 234.1
32 Mortgage pool securities 114.6 192.6 273.8 199.4
33 Loans from U.S. government .0 .0 .0 .0
34 Private 449.3 616.3 481.3 375.5
35 Open market paper 166.7 161.0 176.2 127.7
36 Corporate bonds 218.9 310.2 207.1 199.3
37 Bank loans n.e.c. 13.3 30.1 -14.2 -.2
38 Other loans and advances 35.6 90.2 107.1 42.5
39 Mortgages 14.9 24.8 5.1 6.2
By borrowing sector
40 Commercial banking 46.1 72.9 67.2 60.0
41 Savings institutions 19.7 52.2 48.0 27.3
42 Credit unions .1 .6 2.2 .0
43 Life insurance companies .2 .7 .7 -.7
44 Government-sponsored
enterprises 98.4 278.3 318.2 234.1
45 Federally related mortgage
pools 114.6 192.6 273.8 199.4
46 Issuers of asset-backed
securities (ABSs) 202.2 321.4 212.3 189.7
47 Finance companies 57.8 57.1 70.3 81.2
48 Mortgage companies -4.6 1.6 .2 .1
49 Real estate investment
trusts (REITs) 39.6 62.7 6.3 2.7
50 Brokers and dealers 8.1 7.2 -17.2 15.6
51 Funding corporations 79.9 40.0 91.5 -.4
All sectors
52 Total net borrowing, all
sectors 1,523.9 2,176.7 2,130.0 1,715.6
53 Open market paper 184.1 193.1 229.9 207.6
54 U.S. government securities 236.0 418.3 520.7 137.6
55 Municipal securities 56.9 84.2 54.4 23.6
56 Corporate and foreign bonds 430.8 580.2 439.1 384.4
57 Bank loans n.e.c. 128.2 145.0 69.0 112.8
58 Other loans and advances 93.2 166.3 147.4 136.2
59 Mortgages 337.2 514.6 570.0 574.4
60 Consumer credit 57.5 75.0 99.5 139.0
Funds raised through mutual
funds and corporate equities
61 Total net issues 218.7 165.9 191.2 236.1
62 Corporate equities -46.4 -113.7 .0 1.1
63 Nonfinancial corporations -77.4 -215.5 -110.4 -118.2
64 Foreign shares purchased
by U.S. residents 57.6 101.3 114.3 103.6
65 Financial corporations -26.6 .6 -4.0 15.7
66 Mutual fund shares 265.1 279.5 191.2 235.0
2001
Transaction category or sector 2001 Q2 Q3 Q4
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors. 1,125.9 1,082.6 1,285.8 1,193.0
By sector and instrument
2 Federal government -5.6 -215.8 209.3 43.4
3 Treasury securities -5.0 -216.9 209.7 44.2
4 Budget agency securities
and mortgages -.5 1.1 -.4 -.7
5 Nonfederal 1,131.5 1,298.4 1,076.4 1,149.5
By instrument
6 Commercial paper -88.3 -133.4 -66.1 45.5
7 Municipal securities and
loans 119.2 132.4 80.4 170.0
8 Corporate bonds 340.5 444.5 191.4 325.0
9 Bank loans n.e.c. -82.7 -125.1 -24.3 -166.0
10 Other loans and advances 29.3 132.3 59.4 -107.3
11 Mortgages 704.7 767.5 770.2 733.0
12 Home 530.9 608.3 560.0 531.1
13 Multifamily residential 47.9 40.8 56.5 56.5
14 Commercial 118.4 106.5 146.7 138.6
15 Farm 7.5 11.9 7.0 6.8
16 Consumer credit 108.8 80.2 65.4 149.4
By borrowing sector
17 Household 611.8 661.4 656.9 621.7
18 Nonfinancial business 417.6 520.6 352.6 390.2
19 Corporate 253.3 339.1 194.4 240.8
20 Nonfarm noncorporate 156.8 170.1 153.8 141.1
21 Farm 7.5 11.5 4.4 8.3
22 State and local government 102.2 116.5 67.0 137.6
23 Foreign net borrowing in
United States -37.4 -50.5 -106.7 16.0
24 Commercial paper -14.2 -3.8 -25.2 5.9
25 Bonds -12.1 -15.8 -83.9 29.7
26 Bank loans n.e.c. -7.3 -31.4 4.2 -16.3
27 Other loans and advances -3.7 .5 -1.8 -1.8
28 Total domestic plus foreign 1,088.5 1,032.2 1,179.1 1,208.9
Financial sectors
29 Total net borrowing by
financial sectors 958.5 828.2 1,113.5 976.5
By instrument
30 Federal government-related 629.3 674.6 818.4 591.8
31 Government-sponsored
enterprise securities 290.8 268.3 326.2 306.5
32 Mortgage pool securities 338.5 406.2 492.2 285.3
33 Loans from U.S. government .0 .0 .0 .0
34 Private 329.2 153.7 295.1 384.7
35 Open market paper -61.9 -77.9 -72.2 -13.6
36 Corporate bonds 341.1 223.2 308.8 372.7
37 Bank loans n.e.c. 13.8 10.8 1.6 18.3
38 Other loans and advances 34.9 -18.7 58.8 8.9
39 Mortgages 1.3 16.2 -1.9 -1.6
By borrowing sector
40 Commercial banking 52.9 -10.5 39.7 44.1
41 Savings institutions 7.4 3.4 39.4 -68.6
42 Credit unions 1.5 .8 1.5 4.4
43 Life insurance companies .6 .1 3.5 1.4
44 Government-sponsored
enterprises 290.8 268.3 326.2 306.5
45 Federally related mortgage
pools 338.5 406.2 492.2 285.3
46 Issuers of asset-backed
securities (ABSs) 317.6 205.9 313.9 430.0
47 Finance companies -.2 36.8 41.8 -25.3
48 Mortgage companies .7 .6 .8 .6
49 Real estate investment
trusts (REITs) 2.5 10.5 -2.4 7.8
50 Brokers and dealers 1.4 35.6 12.6 -18.9
51 Funding corporations -55.2 -129.6 -155.7 9.1
All sectors
52 Total net borrowing, all
sectors 2,047.1 1,860.4 2,292.6 2,185.4
53 Open market paper -164.4 -215.1 -163.5 37.8
54 U.S. government securities 623.8 458.8 1,027.8 635.2
55 Municipal securities 119.2 132.4 80.4 170.0
56 Corporate and foreign bonds 669.5 651.9 416.3 727.4
57 Bank loans n.e.c. -76.2 -145.7 -18.5 -164.0
58 Other loans and advances 60.4 114.2 116.5 -101.8
59 Mortgages 706.0 783.8 768.2 731.4
60 Consumer credit 108.8 80.2 65.4 149.4
Funds raised through mutual
funds and corporate equities
61 Total net issues 301.9 419.9 151.8 397.9
62 Corporate equities 100.5 146.4 -8.6 142.0
63 Nonfinancial corporations -47.4 -57.9 -108.6 -4.2
64 Foreign shares purchased
by U.S. residents 106.8 222.9 43.5 74.7
65 Financial corporations 41.1 -18.6 56.5 71.5
66 Mutual fund shares 201.4 273.5 160.4 255.9
2002
Transaction category or sector Q1 Q2 Q3 Q4
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors. 966.2 1,627.6 1,298.0 1,563.2
By sector and instrument
2 Federal government 39.8 526.0 265.7 198.5
3 Treasury securities 41.6 524.2 264.2 198.1
4 Budget agency securities
and mortgages -1.8 1.8 1.6 .4
5 Nonfederal 926.4 1,101.6 1,032.3 1,364.7
By instrument
6 Commercial paper -144.4 -81.7 -17.4 -13.2
7 Municipal securities and
loans 74.6 195.4 156.9 224.9
8 Corporate bonds 253.7 191.4 -29.1 116.8
9 Bank loans n.e.c. -17.2 -192.8 -125.0 -33.6
10 Other loans and advances -19.2 77.2 77.6 4.0
11 Mortgages 696.6 831.3 911.3 1,064.8
12 Home 601.3 657.3 778.7 854.7
13 Multifamily residential 29.3 44.4 29.5 63.3
14 Commercial 59.2 120.6 90.1 140.2
15 Farm 6.9 9.1 13.1 6.5
16 Consumer credit 82.3 80.8 57.9 1.0
By borrowing sector
17 Household 704.9 684.1 755.7 883.1
18 Nonfinancial business 154.9 234.8 132.6 285.0
19 Corporate 39.3 93.6 -10.5 125.8
20 Nonfarm noncorporate 110.3 132.7 128.8 155.2
21 Farm 5.3 8.5 14.2 4.0
22 State and local government 66.6 182.7 144.0 196.5
23 Foreign net borrowing in
United States 77.3 15.1 -32.1 29.6
24 Commercial paper 66.8 36.5 3.9 37.3
25 Bonds -2.3 -41.0 -22.5 -1.0
26 Bank loans n.e.c. 13.9 22.0 -11.7 -2.8
27 Other loans and advances -1.2 -2.4 -1.8 -3.9
28 Total domestic plus foreign 1,043.4 1,642.7 1,265.9 1,592.8
Financial sectors
29 Total net borrowing by
financial sectors 869.8 870.0 852.1 1,097.7
By instrument
30 Federal government-related 691.1 487.8 420.9 642.5
31 Government-sponsored
enterprise securities 191.3 141.7 249.1 347.6
32 Mortgage pool securities 499.8 346.1 171.8 294.9
33 Loans from U.S. government .0 .0 .0 .0
34 Private 178.7 382.2 431.2 455.2
35 Open market paper -178.3 -109.1 84.3 -76.5
36 Corporate bonds 354.1 435.8 188.6 617.6
37 Bank loans n.e.c. .2 31.9 82.3 -70.6
38 Other loans and advances -3.9 16.7 71.9 -17.2
39 Mortgages 6.6 7.0 4.1 1.9
By borrowing sector
40 Commercial banking 24.3 13.3 62.2 93.5
41 Savings institutions -33.1 -12.1 37.1 -47.1
42 Credit unions 2.4 2.0 3.1 .4
43 Life insurance companies 2.4 1.2 2.0 2.5
44 Government-sponsored
enterprises 191.3 141.7 249.1 347.6
45 Federally related mortgage
pools 499.8 346.1 171.8 294.9
46 Issuers of asset-backed
securities (ABSs) 263.6 241.6 194.1 356.3
47 Finance companies -31.2 80.2 106.4 19.2
48 Mortgage companies .8 .7 .7 .7
49 Real estate investment
trusts (REITs) 7.4 25.3 26.6 15.1
50 Brokers and dealers -15.7 17.5 15.2 -24.1
51 Funding corporations -42.2 12.4 -16.4 38.7
All sectors
52 Total net borrowing, all
sectors 1,913.3 2,512.7 2,118.0 2,690.5
53 Open market paper -255.9 -154.3 70.8 -52.4
54 U.S. government securities 730.9 1,013.8 686.7 841.0
55 Municipal securities 74.6 195.4 156.9 224.9
56 Corporate and foreign bonds 605.5 586.2 136.9 733.4
57 Bank loans n.e.c. -3.0 -139.0 -54.3 -107.0
58 Other loans and advances -24.2 91.5 147.6 -17.2
59 Mortgages 703.1 838.3 915.4 1,066.7
60 Consumer credit 82.3 80.8 57.9 1.0
Funds raised through mutual
funds and corporate equities
61 Total net issues 437.6 282.4 -77.1 271.6
62 Corporate equities 50.7 182.4 -114.2 66.7
63 Nonfinancial corporations -8.0 17.9 -130.8 -39.9
64 Foreign shares purchased
by U.S. residents -5.9 79.7 -50.6 52.7
65 Financial corporations 64.6 84.8 67.3 54.0
66 Mutual fund shares 386.9 100.0 37.1 204.9
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables F.2 through F4.
For ordering address, see inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS (1)
Billions of dollars except as noted; quarterly data at
seasonally adjusted annual rates
Transaction category
or sector 1997 1998 1999
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 1,523.9 2,176.7 2,130.0
2 Domestic nonfederal nonfinancial
sectors 15.4 259.1 227.3
3 Household 25.3 127.3 217.3
4 Nonfinancial corporate business -12.7 -16.0 -15.6
5 Nonfarm noncorporate business 2.6 13.3 -2.9
6 State and local governments .1 134.5 28.4
7 Federal government 5.1 13.5 5.8
8 Rest of the world 259.6 172.5 139.7
9 Financial sectors 1,243.9 1,731.6 1,757.2
10 Monetary authority 38.3 21.1 25.7
11 Commercial banking 324.3 305.6 312.2
12 U.S.-chartered banks 274.9 312.1 318.6
13 Foreign banking offices in
United States 40.2 -11.6 -17.0
14 Bank holding companies 5.4 -.9 6.2
15 Banks in U.S.-affiliated areas 3.7 6.0 4.4
16 Savings institutions -4.7 36.2 67.7
17 Credit unions 16.8 18.9 27.5
18 Bank personal trusts and estates -25.0 -12.8 27.8
19 Life insurance companies 104.8 76.9 53.5
20 Other insurance companies 25.2 5.8 -3.0
21 Private pension funds 47.6 -23.4 17.0
22 State and local government
retirement funds 67.1 72.1 46.9
23 Money market mutual funds 87.5 244.0 182.0
24 Mutual funds 80.9 127.3 48.4
25 Closed-end funds -2.9 5.2 8.2
26 Government-sponsored enterprises 106.3 314.0 291.3
27 Federally related mortgage pools 114.6 192.6 273.8
28 Asset-backed securities issuers
(ABSs) 163.8 281.7 194.1
29 Finance companies 23.1 77.3 97.0
30 Mortgage companies -9.1 3.2 .3
31 Real estate investment trusts
(REITs) 20.2 -5.1 -2.6
32 Brokers and dealers 14.9 6.8 -34.7
33 Funding corporations 50.4 -15.8 124.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,523.9 2,176.7 2,130.0
Other financial sources
35 Official foreign exchange .7 6.6 -8.7
36 Special drawing rights
certificates -.5 .0 -3.0
37 Treasury currency .5 .6 1.0
38 Foreign deposits 107.7 6.5 61.0
39 Net interbank transactions -19.7 -31.8 15.0
40 Checkable deposits and currency 41.2 47.3 151.2
41 Small time and savings deposits 97.1 152.4 45.1
42 Large time deposits 122.5 91.8 131.1
43 Money market fund shares 155.9 287.2 249.1
44 Security repurchase agreements 120.9 91.3 169.8
45 Corporate equities -46.4 -113.7 .0
46 Mutual fund shares 265.1 279.5 191.2
47 Trade payables 139.8 106.4 268.6
48 Security credit 111.0 103.2 104.4
49 Life insurance reserves 59.3 48.0 50.8
50 Pension fund reserves 201.4 217.4 181.8
51 Taxes payable 22.3 19.6 30.7
52 Investment in bank personal trusts -53.0 -46.1 -8.1
53 Noncorporate proprietors' equity -40.7 -57.8 -62.4
54 Miscellaneous 456.7 889.0 1,036.3
55 Total financial sources 3,265.9 4,274.0 4,734.9
Liabilities not identified as
assets (-)
56 Treasury currency -.2 -.1 -.7
57 Foreign deposits 106.2 -8.5 42.6
58 Net interbank liabilities -19.9 3.8 .1
59 Security repurchase
agreements 63.2 57.7 35.7
60 Taxes payable 28.0 19.7 11.7
61 Miscellaneous -285.4 -226.9 -291.4
Floats not included in assets (-)
62 Federal government checkable
deposits -2.7 2.6 -7.4
63 Other checkable deposits -3.9 -3.1 -.8
64 Trade credit -25.5 -43.3 6.8
65 Total identified to sectors as
assets 3,406.0 4,472.0 4,938.4
2001
Transaction category
or sector 2000 2001 Q2
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 1,715.6 2,047.1 1,860.4
2 Domestic nonfederal nonfinancial
sectors -116.6 -24.1 -117.2
3 Household -140.6 -52.7 -101.1
4 Nonfinancial corporate business 23.4 -11.5 -29.5
5 Nonfarm noncorporate business 1.3 2.0 .3
6 State and local governments -.8 38.1 13.1
7 Federal government 7.3 6.0 9.4
8 Rest of the world 225.9 320.6 254.9
9 Financial sectors 1,599.0 1,744.6 1,713.4
10 Monetary authority 33.7 39.9 26.9
11 Commercial banking 357.9 205.2 107.8
12 U.S.-chartered banks 339.5 191.6 156.5
13 Foreign banking offices in
United States 23.9 -.6 -50.1
14 Bank holding companies -12.2 4.2 -2.8
15 Banks in U.S.-affiliated areas 6.7 10.0 4.2
16 Savings institutions 56.2 42.8 55.8
17 Credit unions 28.0 41.5 9.6
18 Bank personal trusts and estates .8 -28.1 -28.1
19 Life insurance companies 57.9 130.9 143.6
20 Other insurance companies -8.7 9.0 .1
21 Private pension funds 33.4 20.3 44.7
22 State and local government
retirement funds 54.6 -17.7 77.0
23 Money market mutual funds 143.0 246.0 245.3
24 Mutual funds 21.0 126.0 169.1
25 Closed-end funds -6.3 71.0 -4.9
26 Government-sponsored enterprises 256.4 309.0 297.2
27 Federally related mortgage pools 199.4 338.5 406.2
28 Asset-backed securities issuers
(ABSs) 159.9 291.4 177.6
29 Finance companies 108.0 -5.7 112.1
30 Mortgage companies .2 1.4 1.1
31 Real estate investment trusts
(REITs) -6.3 6.7 1.1
32 Brokers and dealers 68.9 92.4 53.4
33 Funding corporations 41.0 -112.2 -182.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,715.6 2,047.1 1,860.4
Other financial sources
35 Official foreign exchange -.4 4.3 4.7
36 Special drawing rights
certificates -4.0 .0 .0
37 Treasury currency 2.4 1.3 1.3
38 Foreign deposits 135.1 28.0 -175.9
39 Net interbank transactions 15.1 -31.7 -25.4
40 Checkable deposits and currency -71.4 204.3 151.4
41 Small time and savings deposits 188.8 267.2 242.1
42 Large time deposits 116.2 68.6 43.0
43 Money market fund shares 233.3 428.6 370.0
44 Security repurchase agreements 113.2 22.3 117.8
45 Corporate equities 1.1 100.5 146.4
46 Mutual fund shares 235.0 201.4 273.5
47 Trade payables 425.4 -67.3 -69.6
48 Security credit 146.1 3.1 -73.9
49 Life insurance reserves 50.2 77.2 52.2
50 Pension fund reserves 209.0 208.4 209.1
51 Taxes payable 32.8 17.5 14.8
52 Investment in bank personal trusts 56.6 -59.9 -62.2
53 Noncorporate proprietors' equity -11.5 -18.6 -26.4
54 Miscellaneous 1,413.5 774.6 974.1
55 Total financial sources 5,002.2 4,277.0 4,027.4
Liabilities not identified as
assets (-)
56 Treasury currency -1.2 -.1 -.3
57 Foreign deposits 55.9 11.1 -166.8
58 Net interbank liabilities 20.4 17.2 17.0
59 Security repurchase
agreements 122.6 -53.9 129.8
60 Taxes payable 26.2 22.1 3.1
61 Miscellaneous -370.5 -252.3 -480.5
Floats not included in assets (-)
62 Federal government checkable
deposits 9.0 5.7 60.9
63 Other checkable deposits 1.7 4.5 3.9
64 Trade credit 32.4 12.5 6.3
65 Total identified to sectors as
assets 5,105.8 4,510.2 4,453.8
2001 2002
Transaction category
or sector Q3 Q4 Q1
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 2,292.6 2,185.4 1,913.3
2 Domestic nonfederal nonfinancial
sectors 70.5 92.5 155.9
3 Household 53.8 18.2 101.3
4 Nonfinancial corporate business -44.5 29.9 52.3
5 Nonfarm noncorporate business 3.3 2.0 3.3
6 State and local governments 57.9 42.4 -1.1
7 Federal government 3.3 7.0 4.7
8 Rest of the world 269.2 432.5 171.8
9 Financial sectors 1,949.6 1,653.4 1,580.9
10 Monetary authority 8.4 85.1 81.6
11 Commercial banking 267.9 314.6 188.9
12 U.S.-chartered banks 242.5 275.0 168.2
13 Foreign banking offices in
United States 21.1 -7.8 2.1
14 Bank holding companies -1.4 13.6 12.0
15 Banks in U.S.-affiliated areas 5.7 33.9 6.6
16 Savings institutions -4.7 73.1 12.3
17 Credit unions 61.1 60.5 58.3
18 Bank personal trusts and estates -28.0 -28.1 1.0
19 Life insurance companies 186.9 81.3 260.6
20 Other insurance companies 5.1 28.5 36.7
21 Private pension funds 10.4 5.3 27.4
22 State and local government
retirement funds -74.2 -2.7 70.5
23 Money market mutual funds 311.8 49.1 -241.3
24 Mutual funds 102.7 139.3 243.3
25 Closed-end funds 23.9 16.6 21.6
26 Government-sponsored enterprises 274.3 335.3 236.7
27 Federally related mortgage pools 492.2 285.3 499.8
28 Asset-backed securities issuers
(ABSs) 288.3 407.3 239.4
29 Finance companies -43.3 -100.5 -28.2
30 Mortgage companies 1.7 1.2 1.6
31 Real estate investment trusts
(REITs) 7.8 14.0 26.3
32 Brokers and dealers 184.5 -110.5 -219.5
33 Funding corporations -127.4 -1.2 63.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,292.6 2,185.4 1,913.3
Other financial sources
35 Official foreign exchange 13.7 .2 -3.0
36 Special drawing rights
certificates .0 .0 .0
37 Treasury currency 2.2 .0 .9
38 Foreign deposits 41.5 17.9 -59.1
39 Net interbank transactions -1.1 41.5 12.9
40 Checkable deposits and currency 215.0 278.1 -171.9
41 Small time and savings deposits 230.3 329.7 259.7
42 Large time deposits 19.5 77.8 270.0
43 Money market fund shares 386.1 379.8 -315.7
44 Security repurchase agreements 212.7 -138.3 119.4
45 Corporate equities -8.6 142.0 50.7
46 Mutual fund shares 160.4 255.9 386.9
47 Trade payables -185.8 -160.9 182.1
48 Security credit 561.3 -383.7 -190.7
49 Life insurance reserves 74.7 119.6 93.9
50 Pension fund reserves 180.3 148.2 137.0
51 Taxes payable 104.9 -54.8 3.6
52 Investment in bank personal trusts -57.3 -57.7 -3.7
53 Noncorporate proprietors' equity -34.3 8.4 1.5
54 Miscellaneous 935.6 317.6 207.1
55 Total financial sources 5,143.8 3,506.7 2,895.0
Liabilities not identified as
assets (-)
56 Treasury currency .9 .0 -1.5
57 Foreign deposits 55.3 -27.5 -33.6
58 Net interbank liabilities 7.4 22.6 39.8
59 Security repurchase
agreements 106.3 -166.2 157.9
60 Taxes payable 25.4 35.0 14.3
61 Miscellaneous 37.0 -314.4 -300.9
Floats not included in assets (-)
62 Federal government checkable
deposits -20.1 -91.8 15.1
63 Other checkable deposits 5.0 5.7 6.1
64 Trade credit -28.3 50.5 -36.3
65 Total identified to sectors as
assets 4,955.0 3,992.9 3,033.9
2002
Transaction category
or sector Q2 Q3 Q4
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in
credit markets 2,512.7 2,118.0 2,690.5
2 Domestic nonfederal nonfinancial
sectors 272.5 -240.2 150.2
3 Household 223.4 -250.4 148.6
4 Nonfinancial corporate business 3.2 -5.5 -41.3
5 Nonfarm noncorporate business 3.3 -2.2 -1.0
6 State and local governments 42.5 17.8 43.8
7 Federal government 8.8 6.8 10.3
8 Rest of the world 542.6 450.0 503.0
9 Financial sectors 1,688.8 1,901.4 2,027.0
10 Monetary authority 43.4 67.3 118.7
11 Commercial banking 384.3 624.0 442.6
12 U.S.-chartered banks 343.8 599.9 462.8
13 Foreign banking offices in
United States 33.7 21.8 -31.3
14 Bank holding companies 1.9 -1.6 .2
15 Banks in U.S.-affiliated areas 4.9 4.0 10.9
16 Savings institutions -23.5 79.7 73.4
17 Credit unions 41.1 39.9 37.3
18 Bank personal trusts and estates .9 .8 .8
19 Life insurance companies 175.1 267.6 156.1
20 Other insurance companies 35.4 21.7 28.2
21 Private pension funds 46.2 35.9 14.4
22 State and local government
retirement funds -54.5 -10.4 9.4
23 Money market mutual funds -86.7 -74.4 301.2
24 Mutual funds 41.9 162.7 128.9
25 Closed-end funds -.4 -3.3 -1.8
26 Government-sponsored enterprises 129.0 204.4 319.5
27 Federally related mortgage pools 346.1 171.8 294.9
28 Asset-backed securities issuers
(ABSs) 219.4 171.5 334.5
29 Finance companies 39.6 80.0 -21.2
30 Mortgage companies 1.4 1.5 1.5
31 Real estate investment trusts
(REITs) 31.8 27.6 8.1
32 Brokers and dealers 402.8 -208.6 147.5
33 Funding corporations -84.5 226.6 -366.9
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,512.7 2,118.0 2,690.5
Other financial sources
35 Official foreign exchange 12.9 24.6 4.9
36 Special drawing rights
certificates .0 .0 .0
37 Treasury currency .6 2.4 .0
38 Foreign deposits 53.3 68.7 122.1
39 Net interbank transactions -164.6 59.0 118.2
40 Checkable deposits and currency 178.0 211.5 -36.1
41 Small time and savings deposits 249.0 327.6 272.9
42 Large time deposits 34.9 27.8 -110.1
43 Money market fund shares 103.4 -192.6 337.6
44 Security repurchase agreements 362.4 -91.1 -17.1
45 Corporate equities 182.4 -114.2 66.7
46 Mutual fund shares 100.0 37.1 204.9
47 Trade payables 27.2 160.2 89.8
48 Security credit -131.9 -69.6 -13.1
49 Life insurance reserves 92.2 119.7 97.5
50 Pension fund reserves 145.5 317.2 236.7
51 Taxes payable 40.4 48.5 23.4
52 Investment in bank personal trusts -2.4 -2.1 -1.3
53 Noncorporate proprietors' equity -32.9 -86.2 -33.7
54 Miscellaneous 640.1 942.1 528.1
55 Total financial sources 4,403.2 3,908.4 4,582.1
Liabilities not identified as
assets (-)
56 Treasury currency -.9 1.1 -1.1
57 Foreign deposits 94.8 50.8 115.0
58 Net interbank liabilities -9.5 13.2 -17.0
59 Security repurchase
agreements 224.3 -285.7 -24.7
60 Taxes payable -52.3 16.2 -47.6
61 Miscellaneous 33.8 98.3 53.1
Floats not included in assets (-)
62 Federal government checkable
deposits 77.1 -40.3 -51.7
63 Other checkable deposits 7.1 7.6 8.4
64 Trade credit -92.8 -27.0 -39.5
65 Total identified to sectors as
assets 4,121.7 4,074.1 4,587.3
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (1)
Billions of dollars, end of period
Transaction
category or sector 1998 1999 2000
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 16,240.5 17,306.8 18,166.8
By sector and instrument
2 Federal government 3,752.2 3,681.0 3,385.1
3 Treasury securities 3,723.7 3,652.7 3,357.8
4 Budget agency securities and
mortgages 28.5 28.3 27.3
5 Nonfederal 12,488.4 13,625.8 14,781.7
By instrument
6 Commercial paper 193.0 230.3 278.4
7 Municipal securities and loans 1,402.9 1,457.2 1,480.9
8 Corporate bonds 1,846.0 2,063.9 2,225.1
9 Bank loans n.e.c. 1,148.6 1,231.4 1,333.1
10 Other loans and advances 907.2 953.5 1,059.6
11 Mortgages 5,644.1 6,243.4 6,811.6
12 Home 4,366.0 4,790.6 5,209.0
13 Multifamily residential 308.0 343.9 378.0
14 Commercial 873.6 1,006.5 1,115.8
15 Farm 96.6 102.3 108.9
16 Consumer credit 1,346.6 1,446.1 1,593.1
By borrowing sector
17 Households 6,011.8 6,510.0 7,075.1
18 Nonfinancial business 5,338.2 5,938.9 6,514.3
19 Corporate 3,790.6 4,203.5 4,583.9
20 Nonfarm noncorporate 1,383.7 1,566.1 1,750.2
21 Farm 163.9 169.4 180.2
22 State and local government 1,138.3 1,176.9 1,192.3
23 Foreign credit market debt held
in United States 651.3 676.7 742.3
24 Commercial paper 72.9 89.2 120.9
25 Bonds 462.6 476.7 500.6
26 Bank loans n.e.c. 58.7 59.2 70.5
27 Other loans and advances 57.1 51.6 50.3
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 16,891.8 17,983.5 18,909.1
Financial sectors
29 Total credit market debt owed by
financial sectors 6,545.2 7,618.5 8,439.5
By instrument
30 Federal government-related 3,292.0 3,884.0 4,317.4
31 Government-sponsored
enterprise securities 1,273.6 1,591.7 1,825.8
32 Mortgage pool securities 2,018.4 2,292.2 2,491.6
33 Loans from U.S. government .0 .0 .0
34 Private 3,253.2 3,734.6 4,122.0
35 Open market paper 906.7 1,082.9 1,210.7
36 Corporate bonds 1,878.7 2,085.9 2,297.2
37 Bank loans n.e.c. 107.5 93.2 93.0
38 Other loans and advances 288.7 395.8 438.3
39 Mortgages 71.6 76.7 82.9
By borrowing sector
40 Commercial banks 188.6 230.0 266.7
41 Bank holding companies 193.5 219.3 242.5
42 Savings institutions 212.4 260.4 287.7
43 Credit unions 1.1 3.4 3.4
44 Life insurance companies 2.5 3.2 2.5
45 Government-sponsored enterprises 1,273.6 1,591.7 1,825.8
46 Federally related mortgage pools 2,018.4 2,292.2 2,491.6
47 Issuers of asset-backed
securities (ABSs) 1,398.0 1,610.3 1,812.0
48 Brokers and dealers 42.5 25.3 40.9
49 Finance companies 625.5 695.7 776.9
50 Mortgage companies 17.7 17.8 17.9
51 Real estate investment trusts
(REITs) 158.8 165.1 167.8
52 Funding corporations 412.6 504.0 503.7
All sectors
53 Total credit market debt,
domestic and foreign 23,437.1 25,602.0 27,348.6
54 Open market paper 1,172.6 1,402.4 1,610.0
55 U.S. government securities 7,044.2 7,564.9 7,702.5
56 Municipal securities 1,402.9 1,457.2 1,480.9
57 Corporate and foreign bonds 4,187.4 4,626.4 5,022.9
58 Bank loans n.e.c. 1,314.8 1,383.8 1,496.6
59 Other loans and advances 1,253.0 1,400.9 1,548.2
60 Mortgages 5,715.7 6,320.1 6,894.5
61 Consumer credit 1,346.6 1,446.1 1,593.1
2001
Transaction
category or sector 2001 Q2 Q3
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 19,293.3 18,600.5 18,918.3
By sector and instrument
2 Federal government 3,379.5 3,251.4 3,320.0
3 Treasury securities 3,352.7 3,224.3 3,293.0
4 Budget agency securities and
mortgages 26.8 27.0 27.0
5 Nonfederal 15,913.8 15,349.1 15,598.3
By instrument
6 Commercial paper 190.1 223.3 201.3
7 Municipal securities and loans 1,600.1 1,547.0 1,555.1
8 Corporate bonds 2,565.6 2,436.5 2,484.4
9 Bank loans n.e.c. 1,251.0 1,293.6 1,285.1
10 Other loans and advances 1,088.8 1,103.6 1,110.1
11 Mortgages 7,516.3 7,136.9 7,333.1
12 Home 5,739.9 5,463.4 5,607.3
13 Multifamily residential 425.8 397.6 411.7
14 Commercial 1,234.2 1,162.9 1,199.6
15 Farm 116.3 113.0 114.6
16 Consumer credit 1,701.9 1,608.2 1,629.3
By borrowing sector
17 Households 7,686.8 7,322.8 7,493.5
18 Nonfinancial business 6,932.5 6,774.1 6,847.3
19 Corporate 4,837.8 4,755.4 4,790.5
20 Nonfarm noncorporate 1,907.0 1,833.5 1,870.8
21 Farm 187.7 185.2 185.9
22 State and local government 1,294.5 1,252.2 1,257.6
23 Foreign credit market debt held
in United States 704.9 726.1 701.7
24 Commercial paper 106.7 110.1 106.3
25 Bonds 488.4 502.0 481.0
26 Bank loans n.e.c. 63.2 66.2 67.3
27 Other loans and advances 46.6 47.7 47.0
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 19,998.2 19,326.6 19,620.0
Financial sectors
29 Total credit market debt owed by
financial sectors 9,395.3 8,851.0 9,120.1
By instrument
30 Federal government-related 4,944.1 4,591.6 4,796.2
31 Government-sponsored
enterprise securities 2,114.0 1,955.8 2,037.4
32 Mortgage pool securities 2,830.1 2,635.7 2,758.8
33 Loans from U.S. government .0 .0 .0
34 Private 4,451.2 4,259.4 4,323.9
35 Open market paper 1,148.8 1,144.5 1,110.2
36 Corporate bonds 2,638.3 2,478.8 2,561.6
37 Bank loans n.e.c. 106.8 100.4 100.2
38 Other loans and advances 473.2 450.7 467.2
39 Mortgages 84.2 85.1 84.6
By borrowing sector
40 Commercial banks 296.0 274.7 281.4
41 Bank holding companies 266.1 269.0 272.7
42 Savings institutions 295.1 294.4 305.6
43 Credit unions 4.9 3.5 3.8
44 Life insurance companies 3.1 1.9 2.8
45 Government-sponsored enterprises 2,114.0 1,955.8 2,037.4
46 Federally related mortgage pools 2,830.1 2,635.7 2,758.8
47 Issuers of asset-backed
securities (ABSs) 2,129.5 1,937.3 2,019.1
48 Brokers and dealers 42.3 43.9 47.1
49 Finance companies 776.7 769.0 771.2
50 Mortgage companies 18.6 18.2 18.5
51 Real estate investment trusts
(REITs) 170.2 168.9 168.3
52 Funding corporations 448.4 478.6 433.6
All sectors
53 Total credit market debt,
domestic and foreign 29,393.6 28,177.5 28,740.1
54 Open market paper 1,445.6 1,477.9 1,417.8
55 U.S. government securities 8,323.6 7,842.9 8,116.2
56 Municipal securities 1,600.1 1,547.0 1,555.1
57 Corporate and foreign bonds 5,692.3 5,417.3 5,527.0
58 Bank loans n.e.c. 1,421.0 1,460.2 1,452.6
59 Other loans and advances 1,608.6 1,602.0 1,624.4
60 Mortgages 7,600.5 7,222.0 7,417.8
61 Consumer credit 1,701.9 1,608.2 1,629.3
2001 2002
Transaction
category or sector Q4 Q1 Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 19,293.3 19,533.3 19,848.3
By sector and instrument
2 Federal government 3,379.5 3,430.3 3,451.4
3 Treasury securities 3,352.7 3,404.0 3,424.6
4 Budget agency securities and
mortgages 26.8 26.3 26.8
5 Nonfederal 15,913.8 16,103.0 16,396.9
By instrument
6 Commercial paper 190.1 167.5 148.4
7 Municipal securities and loans 1,600.1 1,623.3 1,677.6
8 Corporate bonds 2,565.6 2,629.0 2,676.9
9 Bank loans n.e.c. 1,251.0 1,237.3 1,192.1
10 Other loans and advances 1,088.8 1,089.6 1,106.0
11 Mortgages 7,516.3 7,679.1 7,894.6
12 Home 5,739.9 5,878.8 6,050.8
13 Multifamily residential 425.8 433.2 444.3
14 Commercial 1,234.2 1,249.0 1,279.1
15 Farm 116.3 118.1 120.4
16 Consumer credit 1,701.9 1,677.2 1,701.3
By borrowing sector
17 Households 7,686.8 7,802.1 7,987.8
18 Nonfinancial business 6,932.5 6,985.1 7,042.8
19 Corporate 4,837.8 4,863.2 4,883.0
20 Nonfarm noncorporate 1,907.0 1,934.7 1,968.0
21 Farm 187.7 187.1 191.8
22 State and local government 1,294.5 1,315.8 1,366.2
23 Foreign credit market debt held
in United States 704.9 724.2 725.6
24 Commercial paper 106.7 123.6 130.2
25 Bonds 488.4 487.9 477.6
26 Bank loans n.e.c. 63.2 66.7 72.2
27 Other loans and advances 46.6 46.0 45.5
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 19,998.2 20,257.5 20,573.8
Financial sectors
29 Total credit market debt owed by
financial sectors 9,395.3 9,591.8 9,804.7
By instrument
30 Federal government-related 4,944.1 5,116.9 5,238.8
31 Government-sponsored
enterprise securities 2,114.0 2,161.8 2,197.2
32 Mortgage pool securities 2,830.1 2,955.1 3,041.6
33 Loans from U.S. government .0 .0 .0
34 Private 4,451.2 4,474.9 4,565.9
35 Open market paper 1,148.8 1,090.9 1,046.9
36 Corporate bonds 2,638.3 2,730.6 2,847.1
37 Bank loans n.e.c. 106.8 105.1 113.5
38 Other loans and advances 473.2 462.4 470.8
39 Mortgages 84.2 85.9 87.6
By borrowing sector
40 Commercial banks 296.0 295.8 310.4
41 Bank holding companies 266.1 269.0 264.2
42 Savings institutions 295.1 280.5 275.3
43 Credit unions 4.9 5.5 6.0
44 Life insurance companies 3.1 3.7 4.0
45 Government-sponsored enterprises 2,114.0 2,161.8 2,197.2
46 Federally related mortgage pools 2,830.1 2,955.1 3,041.6
47 Issuers of asset-backed
securities (ABSs) 2,129.5 2,187.7 2,249.6
48 Brokers and dealers 42.3 38.4 42.8
49 Finance companies 776.7 760.8 784.9
50 Mortgage companies 18.6 18.8 19.0
51 Real estate investment trusts
(REITs) 170.2 172.1 178.4
52 Funding corporations 448.4 442.6 431.3
All sectors
53 Total credit market debt,
domestic and foreign 29,393.6 29,849.3 30,378.5
54 Open market paper 1,445.6 1,382.0 1,325.5
55 U.S. government securities 8,323.6 8,547.2 8,690.2
56 Municipal securities 1,600.1 1,623.3 1,677.6
57 Corporate and foreign bonds 5,692.3 5,847.5 6,001.6
58 Bank loans n.e.c. 1,421.0 1,409.1 1,377.8
59 Other loans and advances 1,608.6 1,598.0 1,622.3
60 Mortgages 7,600.5 7,764.9 7,982.2
61 Consumer credit 1,701.9 1,677.2 1,701.3
2002
Transaction
category or sector Q3 Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 20,179.3 20,657.1
By sector and instrument
2 Federal government 3,540.8 3,637.0
3 Treasury securities 3,513.6 3,609.8
4 Budget agency securities and
mortgages 27.2 27.3
5 Nonfederal 16,638.5 17,020.0
By instrument
6 Commercial paper 142.2 126.0
7 Municipal securities and loans 1,704.2 1,763.1
8 Corporate bonds 2,669.6 2,698.8
9 Bank loans n.e.c. 1,159.1 1,158.8
10 Other loans and advances 1,116.9 1,123.7
11 Mortgages 8,125.5 8,392.3
12 Home 6,248.7 6,462.9
13 Multifamily residential 451.6 467.5
14 Commercial 1,301.6 1,336.7
15 Farm 123.6 125.2
16 Consumer credit 1,720.9 1,757.4
By borrowing sector
17 Households 8,183.3 8,443.8
18 Nonfinancial business 7,064.9 7,134.3
19 Corporate 4,871.0 4,899.8
20 Nonfarm noncorporate 1,999.0 2,038.7
21 Farm 194.9 195.7
22 State and local government 1,390.3 1,442.0
23 Foreign credit market debt held
in United States 720.2 727.4
24 Commercial paper 134.0 142.8
25 Bonds 472.0 471.7
26 Bank loans n.e.c. 69.3 68.6
27 Other loans and advances 44.9 44.2
28 Total credit market debt owed
by nonfinancial sectors,
domestic and foreign 20,899.5 21,384.4
Financial sectors
29 Total credit market debt owed by
financial sectors 10,007.6 10,317.7
By instrument
30 Federal government-related 5,344.1 5,504.7
31 Government-sponsored
enterprise securities 2,259.5 2,346.4
32 Mortgage pool securities 3,084.5 3,158.3
33 Loans from U.S. government .0 .0
34 Private 4,663.6 4,813.1
35 Open market paper 1,049.5 1,078.9
36 Corporate bonds 2,901.0 3,037.3
37 Bank loans n.e.c. 133.3 117.7
38 Other loans and advances 491.2 490.0
39 Mortgages 88.6 89.1
By borrowing sector
40 Commercial banks 318.9 326.1
41 Bank holding companies 271.8 284.3
42 Savings institutions 286.4 281.3
43 Credit unions 6.8 6.9
44 Life insurance companies 4.5 5.1
45 Government-sponsored enterprises 2,259.5 2,346.4
46 Federally related mortgage pools 3,084.5 3,158.3
47 Issuers of asset-backed
securities (ABSs) 2,301.5 2,393.5
48 Brokers and dealers 46.6 40.6
49 Finance companies 802.9 820.4
50 Mortgage companies 19.2 19.3
51 Real estate investment trusts
(REITs) 185.1 188.8
52 Funding corporations 420.0 446.6
All sectors
53 Total credit market debt,
domestic and foreign 30,907.1 31,702.2
54 Open market paper 1,325.7 1,347.7
55 U.S. government securities 8,884.9 9,141.7
56 Municipal securities 1,704.2 1,763.1
57 Corporate and foreign bonds 6,042.6 6,207.8
58 Bank loans n.e.c. 1,361.7 1,345.1
59 Other loans and advances 1,653.0 1,658.0
60 Mortgages 8,214.2 8,481.4
61 Consumer credit 1,720.9 1,757.4
(1.) Data in this table appear in the Board's Z.1 (780) quarterly
statistical release, tables L.2 and through L.4. For ordering
address, see inside front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction
category or sector 1998 1999 2000
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 23,437.1 25,602.0 27,348.6
2 Domestic nonfederal nonfinancial
sectors 3,312.6 3,600.8 3,455.5
3 Household 2,264.1 2,542.4 2,373.1
4 Nonfinancial corporate
business 241.5 226.0 249.4
5 Nonfarm noncorporate business 67.5 64.6 65.9
6 State and local governments 739.4 767.8 767.0
7 Federal government 219.0 258.0 265.3
8 Rest of the world 2,278.2 2,354.6 2,621.1
9 Financial sectors 17,627.3 19,388.7 21,006.7
10 Monetary authority 452.5 478.1 511.8
11 Commercial banking 4,336.1 4,648.3 5,006.3
12 U.S.-chartered banks 3,761.4 4,080.0 4,419.5
13 Foreign banking offices in
United States 504.5 487.4 511.3
14 Bank holding companies 26.5 32.7 20.5
15 Banks in U.S.-affiliated
areas 43.8 48.3 55.0
16 Savings institutions 964.7 1,032.4 1,088.6
17 Credit unions 324.2 351.7 379.7
18 Bank personal trusts and
estates 194.1 222.0 222.8
19 Life insurance companies 1,828.0 1,886.0 1,943.9
20 Other insurance companies 521.1 518.2 509.4
21 Private pension funds 651.2 668.2 701.6
22 State and local government
retirement funds 704.6 751.4 806.0
23 Money market mutual funds 965.9 1,147.8 1,290.9
24 Mutual funds 1,028.4 1,076.8 1,097.8
25 Closed-end funds 98.4 106.6 100.3
26 Government-sponsored
enterprises 1,252.3 1,543.5 1,807.1
27 Federally related mortgage
pools 2,018.4 2,292.2 2,491.6
28 Asset-backed securities (ABSs)
issuers 1,219.4 1,413.6 1,585.4
29 Finance companies 645.5 742.5 850.5
30 Mortgage companies 35.3 35.6 35.9
31 Real estate investment trusts
(REITs) 45.5 42.9 36.6
32 Brokers and dealers 189.4 154.7 223.6
33 Funding corporations 152.3 276.0 317.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 23,437.1 25,602.0 27,348.6
Other liabilities
35 Official foreign exchange 60.1 50.1 46.1
36 Special drawing rights
certificates 9.2 6.2 2.2
37 Treasury currency 19.9 20.9 23.2
38 Foreign deposits 642.3 703.6 824.5
39 Net interbank liabilities 189.4 202.4 221.2
40 Checkable deposits and currency 1,333.3 1,484.5 1,413.1
41 Small time and savings deposits 2,626.5 2,671.6 2,860.4
42 Large time deposits 805.3 936.4 1,052.6
43 Money market fund shares 1,329.7 1,578.8 1,812.1
44 Security repurchase agreements 913.8 1,083.6 1,196.8
45 Mutual fund shares 3,613.1 4,538.5 4,434.6
46 Security credit 572.2 676.6 822.7
47 Life insurance reserves 718.3 783.9 819.1
48 Pension fund reserves 8,208.4 9,065.3 9,069.0
49 Trade payables 2,073.8 2,342.4 2,767.9
50 Taxes payable 170.7 201.4 234.2
51 Investment in bank personal
trusts 1,001.0 1,130.4 1,095.8
52 Miscellaneous 7,617.2 8,499.5 9,717.2
53 Total liabilities 55,341.1 61,578.0 65,761.2
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.6 21.4 21.6
55 Corporate equities 15,577.3 19,581.2 17,611.9
56 Household equity in noncorporate
business 4,285.7 4,523.1 4,753.2
Liabilities not identified as
assets (-)
57 Treasury currency -6.4 -7.1 -8.5
58 Foreign deposits 542.8 585.7 627.4
59 Net interbank transactions -26.5 -28.5 -4.3
60 Security repurchase agreements 230.6 266.4 388.9
61 Taxes payable 121.2 129.4 146.3
62 Miscellaneous -1,972.7 -2,427.9 -2,902.8
Floats not included in
assets (-)
63 Federal government checkable
deposits -3.9 -9.8 -2.3
64 Other checkable deposits 23.1 22.3 24.0
65 Trade credit 84.8 95.6 128.0
66 Totals identified to sectors
as assets 76,232.7 87,077.5 89,751.1
2001
Transaction
category or sector 2001 Q2 Q3
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 29,393.6 28,177.5 28,740.1
2 Domestic nonfederal nonfinancial
sectors 3,417.8 3,366.5 3,359.6
3 Household 2,306.9 2,290.6 2,282.7
4 Nonfinancial corporate
business 237.9 225.4 214.8
5 Nonfarm noncorporate business 67.9 66.6 67.4
6 State and local governments 805.1 784.0 794.6
7 Federal government 271.3 268.7 269.6
8 Rest of the world 2,954.4 2,766.8 2,837.5
9 Financial sectors 22,750.1 21,775.4 22,273.4
10 Monetary authority 551.7 535.1 534.1
11 Commercial banking 5,210.5 5,041.5 5,100.6
12 U.S.-chartered banks 4,610.1 4,463.5 4,513.5
13 Foreign banking offices in
United States 510.7 501.3 509.3
14 Bank holding companies 24.7 21.6 21.3
15 Banks in U.S.-affiliated
areas 65.0 55.1 56.5
16 Savings institutions 1,131.4 1,116.1 1,118.1
17 Credit unions 421.2 392.4 408.4
18 Bank personal trusts and
estates 194.7 208.8 201.8
19 Life insurance companies 2,074.8 2,004.8 2,054.8
20 Other insurance companies 518.4 510.0 511.3
21 Private pension funds 721.9 718.0 720.6
22 State and local government
retirement funds 788.4 807.6 789.0
23 Money market mutual funds 1,536.9 1,414.3 1,494.9
24 Mutual funds 1,223.8 1,160.3 1,188.2
25 Closed-end funds 107.4 97.3 103.3
26 Government-sponsored
enterprises 2,114.3 1,956.1 2,026.1
27 Federally related mortgage
pools 2,830.1 2,635.7 2,758.8
28 Asset-backed securities (ABSs)
issuers 1,876.8 1,696.6 1,772.1
29 Finance companies 844.8 878.5 859.5
30 Mortgage companies 37.2 36.5 36.9
31 Real estate investment trusts
(REITs) 43.3 37.9 39.8
32 Brokers and dealers 316.0 288.4 366.4
33 Funding corporations 206.3 239.5 188.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 29,393.6 28,177.5 28,740.1
Other liabilities
35 Official foreign exchange 46.8 43.4 49.0
36 Special drawing rights
certificates 2.2 2.2 2.2
37 Treasury currency 24.5 23.9 24.5
38 Foreign deposits 908.9 837.6 848.0
39 Net interbank liabilities 187.7 158.7 166.5
40 Checkable deposits and currency 1,603.2 1,449.6 1,487.1
41 Small time and savings deposits 3,127.6 2,992.4 3,047.6
42 Large time deposits 1,121.1 1,087.3 1,094.2
43 Money market fund shares 2,240.7 2,014.7 2,115.4
44 Security repurchase agreements 1,231.8 1,205.4 1,251.9
45 Mutual fund shares 4,135.5 4,259.5 3,753.1
46 Security credit 825.9 781.5 919.9
47 Life insurance reserves 880.0 840.3 844.0
48 Pension fund reserves 8,693.4 8,862.6 8,281.0
49 Trade payables 2,700.6 2,756.4 2,725.7
50 Taxes payable 251.7 241.2 270.1
51 Investment in bank personal
trusts 960.7 1,024.6 916.5
52 Miscellaneous 10,505.4 10,491.8 10,919.8
53 Total liabilities 68,841.3 67,250.6 67,456.6
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.8 21.5 22.0
55 Corporate equities 15,245.5 16,281.6 13,673.4
56 Household equity in noncorporate
business 4,837.2 4,817.0 4,865.2
Liabilities not identified as
assets (-)
57 Treasury currency -8.6 -8.8 -8.6
58 Foreign deposits 694.9 631.6 645.4
59 Net interbank transactions 11.1 3.8 4.5
60 Security repurchase agreements 348.5 379.4 398.7
61 Taxes payable 121.8 150.5 167.3
62 Miscellaneous -3,147.0 -2,806.3 -2,643.0
Floats not included in
assets (-)
63 Federal government checkable
deposits -12.3 -3.6 -4.0
64 Other checkable deposits 28.6 25.5 19.2
65 Trade credit 140.5 61.8 52.0
66 Totals identified to sectors
as assets 90,768.3 89,936.9 87,385.5
2001 2002
Transaction
category or sector Q4 Q1 Q2
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 29,393.6 29,849.3 30,378.5
2 Domestic nonfederal nonfinancial
sectors 3,417.8 3,442.6 3,498.9
3 Household 2,306.9 2,337.9 2,374.6
4 Nonfinancial corporate
business 237.9 230.4 235.0
5 Nonfarm noncorporate business 67.9 68.7 69.6
6 State and local governments 805.1 805.6 819.7
7 Federal government 271.3 272.5 274.7
8 Rest of the world 2,954.4 3,000.6 3,133.2
9 Financial sectors 22,750.1 23,133.5 23,471.8
10 Monetary authority 551.7 575.4 590.7
11 Commercial banking 5,210.5 5,231.3 5,328.3
12 U.S.-chartered banks 4,610.1 4,629.3 4,719.7
13 Foreign banking offices in
United States 510.7 507.7 512.6
14 Bank holding companies 24.7 27.7 28.1
15 Banks in U.S.-affiliated
areas 65.0 66.6 67.9
16 Savings institutions 1,131.4 1,134.7 1,130.9
17 Credit unions 421.2 434.3 447.7
18 Bank personal trusts and
estates 194.7 195.0 195.2
19 Life insurance companies 2,074.8 2,136.9 2,180.1
20 Other insurance companies 518.4 527.6 536.4
21 Private pension funds 721.9 728.7 740.3
22 State and local government
retirement funds 788.4 806.0 792.4
23 Money market mutual funds 1,536.9 1,496.4 1,419.3
24 Mutual funds 1,223.8 1,276.8 1,291.6
25 Closed-end funds 107.4 112.8 112.8
26 Government-sponsored
enterprises 2,114.3 2,163.8 2,199.9
27 Federally related mortgage
pools 2,830.1 2,955.1 3,041.6
28 Asset-backed securities (ABSs)
issuers 1,876.8 1,928.9 1,985.3
29 Finance companies 844.8 832.4 845.6
30 Mortgage companies 37.2 37.6 38.0
31 Real estate investment trusts
(REITs) 43.3 49.9 57.9
32 Brokers and dealers 316.0 299.6 352.6
33 Funding corporations 206.3 210.3 185.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 29,393.6 29,849.3 30,378.5
Other liabilities
35 Official foreign exchange 46.8 45.7 47.2
36 Special drawing rights
certificates 2.2 2.2 2.2
37 Treasury currency 24.5 24.7 24.8
38 Foreign deposits 908.9 894.1 907.4
39 Net interbank liabilities 187.7 161.1 130.6
40 Checkable deposits and currency 1,603.2 1,525.2 1,571.0
41 Small time and savings deposits 3,127.6 3,229.6 3,257.6
42 Large time deposits 1,121.1 1,178.9 1,188.7
43 Money market fund shares 2,240.7 2,202.6 2,150.3
44 Security repurchase agreements 1,231.8 1,262.4 1,343.1
45 Mutual fund shares 4,135.5 4,247.0 3,926.6
46 Security credit 825.9 778.0 745.6
47 Life insurance reserves 880.0 904.2 915.2
48 Pension fund reserves 8,693.4 8,822.2 8,328.1
49 Trade payables 2,700.6 2,724.3 2,721.6
50 Taxes payable 251.7 258.9 265.0
51 Investment in bank personal
trusts 960.7 963.2 893.5
52 Miscellaneous 10,505.4 10,539.1 10,829.7
53 Total liabilities 68,841.3 69,612.6 69,626.9
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.8 21.9 22.3
55 Corporate equities 15,245.5 15,264.1 13,363.0
56 Household equity in noncorporate
business 4,837.2 4,864.4 4,933.7
Liabilities not identified as
assets (-)
57 Treasury currency -8.6 -8.9 -9.1
58 Foreign deposits 694.9 686.5 710.2
59 Net interbank transactions 11.1 21.9 18.4
60 Security repurchase agreements 348.5 401.6 463.3
61 Taxes payable 121.8 109.9 162.8
62 Miscellaneous -3,147.0 -3,105.7 -3,140.6
Floats not included in
assets (-)
63 Federal government checkable
deposits -12.3 -9.6 -9.3
64 Other checkable deposits 28.6 26.3 31.4
65 Trade credit 140.5 85.7 33.0
66 Totals identified to sectors
as assets 90,768.3 91,555.1 89,685.8
2002
Transaction
category or sector Q3 Q4
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 30,907.1 31,702.2
2 Domestic nonfederal nonfinancial
sectors 3,417.2 3,502.3
3 Household 2,292.7 2,362.6
4 Nonfinancial corporate
business 235.4 240.1
5 Nonfarm noncorporate business 69.0 68.8
6 State and local governments 820.1 830.9
7 Federal government 276.4 279.0
8 Rest of the world 3,249.5 3,371.3
9 Financial sectors 23,964.0 24,549.6
10 Monetary authority 604.2 629.4
11 Commercial banking 5,476.2 5,620.5
12 U.S.-chartered banks 4,858.4 5,003.8
13 Foreign banking offices in
United States 521.2 517.3
14 Bank holding companies 27.7 27.8
15 Banks in U.S.-affiliated
areas 68.8 71.6
16 Savings institutions 1,153.7 1,166.9
17 Credit unions 458.5 465.3
18 Bank personal trusts and
estates 195.4 195.6
19 Life insurance companies 2,250.7 2,289.6
20 Other insurance companies 541.9 548.9
21 Private pension funds 749.3 752.9
22 State and local government
retirement funds 789.8 792.1
23 Money market mutual funds 1,405.7 1,511.6
24 Mutual funds 1,334.5 1,368.0
25 Closed-end funds 111.9 111.5
26 Government-sponsored
enterprises 2,252.9 2,336.7
27 Federally related mortgage
pools 3,084.5 3,158.3
28 Asset-backed securities (ABSs)
issuers 2,031.5 2,118.1
29 Finance companies 857.1 862.4
30 Mortgage companies 38.3 38.7
31 Real estate investment trusts
(REITs) 64.8 66.8
32 Brokers and dealers 335.2 346.6
33 Funding corporations 224.1 166.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 30,907.1 31,702.2
Other liabilities
35 Official foreign exchange 53.1 55.8
36 Special drawing rights
certificates 2.2 2.2
37 Treasury currency 25.5 25.5
38 Foreign deposits 924.6 955.2
39 Net interbank liabilities 149.0 191.3
40 Checkable deposits and currency 1,610.7 1,648.6
41 Small time and savings deposits 3,339.0 3,404.9
42 Large time deposits 1,197.7 1,176.8
43 Money market fund shares 2,105.9 2,223.9
44 Security repurchase agreements 1,313.7 1,325.2
45 Mutual fund shares 3,452.3 3,634.6
46 Security credit 726.3 724.5
47 Life insurance reserves 927.9 958.4
48 Pension fund reserves 7,732.4 8,053.3
49 Trade payables 2,779.2 2,815.4
50 Taxes payable 279.6 280.7
51 Investment in bank personal
trusts 811.6 840.9
52 Miscellaneous 11,304.4 11,394.1
53 Total liabilities 69,642.2 71,413.3
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 22.8 23.2
55 Corporate equities 10,960.1 11,734.5
56 Household equity in noncorporate
business 4,983.6 5,021.8
Liabilities not identified as
assets (-)
57 Treasury currency -8.9 -9.1
58 Foreign deposits 722.9 751.7
59 Net interbank transactions 16.5 14.9
60 Security repurchase agreements 381.6 366.5
61 Taxes payable 152.8 156.8
62 Miscellaneous -3,033.6 -3,036.1
Floats not included in
assets (-)
63 Federal government checkable
deposits -14.8 -11.7
64 Other checkable deposits 25.8 35.9
65 Trade credit 25.5 91.6
66 Totals identified to sectors
as assets 87,340.6 89,832.3
(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.
Domestic Nonfinancial Statistics Selected Measures
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION (1)
Seasonally adjusted
2002
Series Q1 Q2 Q3 Q4 (r)
Output (1997=100)
1 Total industry 109.3 110.5 111.4 110.5
2 Manufacturing 110.5 111.4 112.3 111.3
3 Manufacturing (NAICS) 110.8 111.8 112.6 111.6
4 Durable manufacturing 119.7 121.2 122.3 121.5
5 Primary metal 84.9 85.6 85.9 86.0
6 Fabricated metal products 98.0 99.1 99.5 99.1
7 Machinery 87.5 88.6 88.7 86.7
8 Computer and electronic
products 216.2 219.6 222.6 224.3
9 Electrical equipment,
appliances, and
components 97.6 98.3 97.7 97.2
10 Motor vehicles and parts 112.8 116.8 121.7 120.0
11 Aerospace and miscellaneous
transportation equipment 90.8 87.6 85.9 85.1
12 Nondurable manufacturing 99.1 99.7 100.1 98.9
13 Food, beverage, and tobacco
products 100.8 100.8 100.1 98.8
14 Textile and product mills 82.1 83.3 82.9 81.3
15 Paper 91.7 94.2 95.7 96.7
16 Petroleum and coal products 103.3 103.3 102.3 102.8
17 Chemical 104.9 105.3 106.4 104.1
18 Plastics and robber
products 103.6 106.6 107.3 105.6
19 Other manufacturing
(non-NAICS) 105.2 104.6 106.0 105.9
20 Mining 94.0 93.4 93.5 93.8
21 Electric and gas utilities 105.6 110.2 112.5 111.5
MEMOS
22 Computers, communications
equipment, and semiconductors 282.2 290.3 295.5 300.3
23 Total excluding computers,
communications equipment, and
semiconductors 99.6 100.6 101.3 100.4
24 Manufacturing excluding
computers, communications
equipment, and semiconductors 99.2 99.9 100.5 99.5
2002
Series Q1 Q2 Q3 Q4
Capacity (percent
of 1997 output)
1 Total industry 145.4 145.9 146.2 146.6
2 Manufacturing 150.5 150.9 151.1 151.4
3 Manufacturing (NAICS) 151.8 152.2 152.5 152.8
4 Durable manufacturing 171.5 172.5 173.4 174.2
5 Primary metal 112.7 112.0 111.4 110.8
6 Fabricated metal products 139.0 139.3 139.4 139.6
7 Machinery 129.9 129.9 129.9 129.9
8 Computer and electronic
products 344.0 350.1 355.4 360.3
9 Electrical equipment,
appliances, and
components 129.6 129.1 128.6 128.2
10 Motor vehicles and parts 144.9 145.9 147.1 148.4
11 Aerospace and miscellaneous
transportation equipment 145.7 145.5 145.3 145.1
12 Nondurable manufacturing 127.9 127.7 127.5 127.3
13 Food, beverage, and tobacco
products 125.9 125.8 125.7 125.6
14 Textile and product mills 112.8 112.3 111.7 111.1
15 Paper 114.5 114.2 114.0 113.8
16 Petroleum and coal products 114.7 114.9 115.2 115.7
17 Chemical 141.0 141.2 141.2 141.3
18 Plastics and robber
products 134.8 134.2 133.6 132.9
19 Other manufacturing
(non-NAICS) 131.1 130.3 129.5 128.7
20 Mining 110.3 110.2 110.1 110.2
21 Electric and gas utilities 123.5 125.5 127.6 129.7
MEMOS
22 Computers, communications
equipment, and semiconductors 456.8 466.7 475.3 483.3
23 Total excluding computers,
communications equipment, and
semiconductors 130.3 130.4 130.5 130.6
24 Manufacturing excluding
computers, communications
equipment, and semiconductors 132.7 132.6 132.6 132.6
2002
Series Q1 Q2 Q3 Q4 (r)
Capacity utilization
rate (percent) (2)
1 Total industry 75.1 75.7 76.2 75.4
2 Manufacturing 73.4 73.9 74.3 73.5
3 Manufacturing (NAICS) 73.0 73.5 73.8 73.0
4 Durable manufacturing 69.8 70.2 70.5 69.8
5 Primary metal 75.3 76.4 77.1 77.6
6 Fabricated metal products 70.5 71.2 71.3 71.0
7 Machinery 67.3 68.2 68.3 66.7
8 Computer and electronic
products 62.9 62.7 62.6 62.3
9 Electrical equipment,
appliances, and
components 75.3 76.1 75.9 75.8
10 Motor vehicles and parts 77.9 80.0 82.7 80.9
11 Aerospace and miscellaneous
transportation equipment 62.3 60.2 59.1 58.6
12 Nondurable manufacturing 77.5 78.1 78.5 77.7
13 Food, beverage, and tobacco
products 80.1 80.2 79.7 78.7
14 Textile and product mills 72.8 74.2 74.2 73.2
15 Paper 80.1 82.5 84.1 85.0
16 Petroleum and coal products 90.1 89.9 88.7 88.9
17 Chemical 74.4 74.6 75.3 73.7
18 Plastics and robber
products 76.9 79.4 80.4 79.4
19 Other manufacturing
(non-NAICS) 80.3 80.3 81.8 82.3
20 Mining 85.2 84.8 84.9 85.1
21 Electric and gas utilities 85.5 87.8 88.2 86.0
MEMOS
22 Computers, communications
equipment, and semiconductors 61.8 62.2 62.2 62.1
23 Total excluding computers,
communications equipment, and
semiconductors 76.5 77.1 77.6 76.8
24 Manufacturing excluding
computers, communications
equipment, and semiconductors 74.8 75.3 75.8 75.1
Previous
1973 1975 cycle (3)
Series High Low High Low
Capacity utilization
rate (percent) (2)
1 Total industry 88.8 74.0 86.6 70.8
2 Manufacturing 88.0 71.6 86.3 68.6
3 Manufacturing (NAICS) 88.1 71.4 86.3 67.9
4 Durable manufacturing 88.9 69.6 87.0 63.1
5 Primary metal 100.9 68.9 91.3 47.2
6 Fabricated metal products 91.8 69.6 83.1 61.7
7 Machinery 94.2 74.2 92.8 58.3
8 Computer and electronic
products 87.0 66.9 89.8 77.3
9 Electrical equipment,
appliances, and
components 99.3 68.5 91.9 64.4
10 Motor vehicles and parts 95.3 55.3 96.2 45.2
11 Aerospace and miscellaneous
transportation equipment 75.0 66.3 84.6 69.8
12 Nondurable manufacturing 87.5 72.5 85.7 75.6
13 Food, beverage, and tobacco
products 85.9 78.0 84.3 80.2
14 Textile and product mills 89.8 62.8 90.1 72.3
15 Paper 97.4 74.7 95.6 81.3
16 Petroleum and coal products 93.2 81.0 92.3 71.1
17 Chemical 85.0 68.9 83.0 67.9
18 Plastics and robber
products 96.3 61.6 90.5 70.5
19 Other manufacturing
(non-NAICS) 85.7 75.7 88.1 85.7
20 Mining 93.6 87.6 94.2 78.6
21 Electric and gas utilities 96.2 82.7 87.9 77.2
MEMOS
22 Computers, communications
equipment, and semiconductors 84.5 63.1 89.9 75.6
23 Total excluding computers,
communications equipment, and
semiconductors 89.1 74.3 86.6 70.5
24 Manufacturing excluding
computers, communications
equipment, and semiconductors 88.3 71.9 86.3 68.1
Latest
cycle (4) 2002 2002
Series High Low Feb. Sept.
Capacity utilization
rate (percent) (2)
1 Total industry 85.1 78.6 75.1 76.0
2 Manufacturing 85.5 77.2 73.4 74.1
3 Manufacturing (NAICS) 85.5 77.0 73.0 73.6
4 Durable manufacturing 84.5 73.4 69.8 70.2
5 Primary metal 95.3 75.2 75.7 76.5
6 Fabricated metal products 80.1 71.0 70.6 71.2
7 Machinery 84.7 72.9 67.2 67.9
8 Computer and electronic
products 81.5 76.4 62.6 62.5
9 Electrical equipment,
appliances, and
components 87.5 75.0 75.4 75.1
10 Motor vehicles and parts 90.0 56.6 78.3 82.1
11 Aerospace and miscellaneous
transportation equipment 88.9 81.9 62.4 59.0
12 Nondurable manufacturing 86.9 81.8 77.4 78.4
13 Food, beverage, and tobacco
products 85.5 81.3 80.1 79.5
14 Textile and product mills 91.1 77.1 72.5 73.8
15 Paper 94.0 85.4 80.2 84.4
16 Petroleum and coal products 88.9 82.5 90.7 87.6
17 Chemical 85.6 80.8 74.1 75.1
18 Plastics and robber
products 91.2 77.1 76.6 80.4
19 Other manufacturing
(non-NAICS) 90.2 79.1 80.0 82.8
20 Mining 85.6 83.3 85.4 83.8
21 Electric and gas utilities 92.6 84.2 85.2 88.4
MEMOS
22 Computers, communications
equipment, and semiconductors 80.4 74.6 61.6 62.0
23 Total excluding computers,
communications equipment, and
semiconductors 85.5 78.8 76.4 77.5
24 Manufacturing excluding
computers, communications
equipment, and semiconductors 86.1 77.3 74.8 75.7
2002 2003
Nov. Dec. Jan. Feb.
Series Oct. (r) (r) (r) (p)
Capacity utilization
rate (percent) (2)
1 Total industry 75.5 75.6 75.1 75.6 75.6
2 Manufacturing 73.7 73.7 73.2 73.6 73.4
3 Manufacturing (NAICS) 73.1 73.3 72.7 73.0 72.9
4 Durable manufacturing 69.9 70.2 69.2 70.0 69.6
5 Primary metal 78.9 77.8 76.1 77.1 76.0
6 Fabricated metal products 71.5 70.7 70.8 70.9 70.3
7 Machinery 66.8 67.3 66.1 66.7 67.0
8 Computer and electronic
products 62.5 62.3 61.9 62.5 62.9
9 Electrical equipment,
appliances, and
components 75.3 75.6 76.5 75.9 76.5
10 Motor vehicles and parts 80.0 83.5 79.1 82.4 80.1
11 Aerospace and miscellaneous
transportation equipment 58.9 58.4 58.5 58.9 58.6
12 Nondurable manufacturing 77.8 77.7 77.5 77.4 77.5
13 Food, beverage, and tobacco
products 79.2 78.5 78.3 78.6 78.2
14 Textile and product mills 73.0 73.5 73.0 72.0 72.5
15 Paper 84.1 85.1 85.7 83.0 84.0
16 Petroleum and coal products 86.1 89.8 90.7 88.1 88.4
17 Chemical 74.1 73.8 73.3 73.3 73.7
18 Plastics and robber
products 79.9 79.6 78.8 79.2 79.4
19 Other manufacturing
(non-NAICS) 82.7 81.9 82.3 82.6 83.2
20 Mining 83.9 85.0 86.6 85.0 85.8
21 Electric and gas utilities 86.9 86.4 84.8 87.8 88.5
MEMOS
22 Computers, communications
equipment, and semiconductors 62.3 62.4 61.6 62.3 63.1
23 Total excluding computers,
communications equipment, and
semiconductors 76.9 77.0 76.5 77.0 77.0
24 Manufacturing excluding
computers, communications
equipment, and semiconductors 75.2 75.3 74.7 75.1 74.9
Note. The statistics in the G.17 release cover output, capacity, and
capacity utilization in the industrial sector, which the Federal
Reserve defines as manufacturing, mining, and electric and gas
utilities. Manufacturing consists of those industries included in the
North American Industry Classification System, or NAICS, manufacturing
plus those industries--logging and newspaper, periodical, book and
directory publishing--that have traditionally been considered
manufacturing and included in the industrial sector.
(1.) Data in this table also appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2002. The recent annual
revision will be described in an upcoming issue of the Bulletin.
(2.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Monthly highs, 1978-80; monthly lows, 1982.
(4.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
1992
NAICS pro- 2002
Group code (2) por- avg.
tion
MAJOR MARKETS
1 Total IP 100.0 110.5
Market groups
2 Final products and nonindustrial
supplies 60.8 109.3
3 Consumer goods 29.0 107.5
4 Durable 5.8 117.3
5 Automotive products 2.5 125.4
6 Home electronics 0.4 142.9
7 Appliances, furniture,
carpeting 1.3 106.9
8 Miscellaneous goods 1.6 98.5
9 Nondurable 23.2 104.1
10 Non-energy 20.2 102.6
11 Foods and tobacco 10.4 99.5
12 Clothing 2.4 72.4
13 Chemical products 4.6 119.1
14 Paper products 2.9 108.1
15 Energy 3.0 112.0
16 Business equipment 13.2 107.3
17 Transit 2.5 81.2
18 Information processing 5.4 153.8
19 Industrial and other 5.3 91.5
20 Defense and space equipment 3.4 101.2
21 Construction supplies 5.4 104.0
22 Business supplies 9.1 121.9
23 Materials 39.2 112.2
24 Non-energy 29.6 115.8
25 Durable 20.7 128.1
26 Consumer parts 4.0 110.9
27 Equipment parts 7.5 182.7
28 Other 9.2 97.1
29 Nondurable 8.9 97.0
30 Textile 1.1 77.6
31 Paper 1.8 95.0
32 Chemical 4.0 99.1
33 Energy 9.6 98.7
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment, and
semiconductors 94.7 100.5
35 Total excluding motor vehicles
and parts 94.3 110.0
Gross value
(billions of 1996
dollars, annual rates)
36 Final products and nonindustrial 100.0 2,793.3
supplies
37 Final products 77.2 2,018.6
38 Consumer goods 51.9 1,384.7
39 Equipment total 25.3 624.9
40 Nonindustrial supplies 22.8 774.6
INDUSTRY GROUPS
41 Manufacturing ... 85.4 111.4
42 Manufacturing (NAICS) ... 79.1 111.7
43 Durable manufacturing ... 43.0 121.1
44 Wood products 321 1.5 100.5
45 Nonmetallic mineral products 327 2.0 108.0
46 Primary metal 331 2.7 85.6
47 Fabricated metal products 332 5.3 99.0
48 Machinery 333 5.7 87.9
49 Computer and electronic
products 334 8.8 220.4
50 Electrical equipment,
appliances, and components 335 2.5 97.8
51 Motor vehicles and parts 3361-3 5.7 117.3
52 Aerospace and miscellaneous
transportation equipment 3364-9 4.5 87.6
53 Furniture and related products 337 1.5 101.3
54 Miscellaneous 339 2.8 109.6
55 Nondurable manufacturing ... 36.1 99.5
56 Food, beverage, and tobacco
products 311,2 10.9 100.2
57 Textile and product mills 313,4 1.8 82.5
58 Apparel and leather 315,6 2.2 72.2
59 Paper 322 3.3 94.6
60 Printing and support 323 2.8 97.8
61 Petroleum and coal products 324 1.4 102.9
62 Chemical 325 10.3 105.1
63 Plastics and rubber products 326 3.4 106.0
64 Other manufacturing (non-NAICS) 1133,5111 4.3 105.5
65 Mining 21 6.6 93.8
66 Utilities 2211,2 10.1 110.2
67 Electric 2211 8.6 111.8
68 Natural gas 2212 1.6 97.5
69 Manufacturing excluding computers,
communications equipment, and
semiconductors ... 78.0 99.8
70 Manufacturing excluding motor
vehicles and parts ... 77.6 110.9
2002
Group Feb. Mar. Apr.
Index (1997=100)
MAJOR MARKETS
1 Total IP 109.2 109.6 110.1
Market groups
2 Final products and nonindustrial
supplies 108.5 108.9 109.1
3 Consumer goods 106.7 107.4 107.5
4 Durable 115.3 115.7 116.5
5 Automotive products 121.3 121.7 123.8
6 Home electronics 153.1 150.2 139.9
7 Appliances, furniture,
carpeting 107.9 108.1 108.2
8 Miscellaneous goods 97.1 98.2 98.1
9 Nondurable 103.6 104.4 104.4
10 Non-energy 103.0 103.5 102.8
11 Foods and tobacco 100.2 100.8 100.4
12 Clothing 72.7 74.4 72.7
13 Chemical products 119.9 120.1 118.5
14 Paper products 106.6 107.2 106.0
15 Energy 107.1 109.4 112.8
16 Business equipment 108.1 107.8 107.7
17 Transit 86.9 84.8 83.2
18 Information processing 154.3 155.5 154.7
19 Industrial and other 90.5 90.3 91.1
20 Defense and space equipment 99.7 99.8 99.9
21 Construction supplies 103.1 104.0 104.0
22 Business supplies 119.4 119.7 120.7
23 Materials 110.2 110.7 111.6
24 Non-energy 113.7 114.0 115.0
25 Durable 125.6 125.8 127.1
26 Consumer parts 109.2 109.2 110.8
27 Equipment parts 177.6 177.6 179.8
28 Other 95.9 96.0 96.7
29 Nondurable 95.4 95.9 96.5
30 Textile 76.3 77.7 77.8
31 Paper 92.6 91.9 93.3
32 Chemical 97.2 98.8 99.6
33 Energy 97.1 97.9 98.6
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment, and
semiconductors 99.6 99.9 100.3
35 Total excluding motor vehicles
and parts 108.9 109.4 109.7
Gross value
(billions of 1996
dollars, annual rates)
36 Final products and nonindustrial 2,774.9 2,787.1 2,796.7
supplies
37 Final products 2,006.4 2,013.9 2,020.7
38 Consumer goods 1,371.5 1,380.1 1,386.3
39 Equipment total 627.5 625.4 625.3
40 Nonindustrial supplies 768.5 773.2 776.1
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 110.4 110.7 111.0
42 Manufacturing (NAICS) 110.8 111.0 111.4
43 Durable manufacturing 119.8 119.8 120.5
44 Wood products 99.9 101.7 100.8
45 Nonmetallic mineral products 106.4 106.6 107.4
46 Primary metal 85.3 85.1 84.6
47 Fabricated metal products 98.2 98.2 98.4
48 Machinery 87.3 88.0 88.3
49 Computer and electronic
products 215.5 216.9 217.9
50 Electrical equipment,
appliances, and components 97.7 96.8 97.2
51 Motor vehicles and parts 113.4 113.3 115.9
52 Aerospace and miscellaneous
transportation equipment 90.9 89.5 88.3
53 Furniture and related products 102.6 101.7 101.8
54 Miscellaneous 107.8 107.4 109.6
55 Nondurable manufacturing 99.0 99.5 99.5
56 Food, beverage, and tobacco
products 100.8 101.4 101.0
57 Textile and product mills 81.8 83.0 82.9
58 Apparel and leather 72.5 74.1 72.5
59 Paper 91.8 91.6 93.0
60 Printing and support 96.9 95.2 95.5
61 Petroleum and coal products 104.0 103.5 104.2
62 Chemical 104.6 105.2 105.1
63 Plastics and rubber products 103.3 105.1 105.7
64 Other manufacturing (non-NAICS) 104.9 105.0 104.1
65 Mining 94.2 93.6 93.4
66 Utilities 105.2 108.0 110.6
67 Electric 107.1 110.1 112.5
68 Natural gas 95.0 96.9 100.2
69 Manufacturing excluding computers,
communications equipment, and
semiconductors 99.2 99.4 99.5
70 Manufacturing excluding motor
vehicles and parts 110.2 110.5 110.5
2002
Group May June July
Index (1997=100)
MAJOR MARKETS
1 Total IP 110.4 110.8 111.6
Market groups
2 Final products and nonindustrial
supplies 109.3 109.6 110.1
3 Consumer goods 107.3 107.8 108.5
4 Durable 117.2 118.6 120.0
5 Automotive products 124.2 127.4 130.6
6 Home electronics 143.8 135.3 137.0
7 Appliances, furniture,
carpeting 109.1 107.5 106.9
8 Miscellaneous goods 98.9 100.2 99.2
9 Nondurable 103.9 104.1 104.6
10 Non-energy 102.2 102.8 102.8
11 Foods and tobacco 100.0 100.2 99.8
12 Clothing 72.9 72.9 73.2
13 Chemical products 116.8 118.3 119.5
14 Paper products 106.2 107.2 107.1
15 Energy 112.5 110.9 114.0
16 Business equipment 108.0 108.0 107.3
17 Transit 82.0 81.1 80.2
18 Information processing 154.9 154.9 153.5
19 Industrial and other 91.9 92.2 92.0
20 Defense and space equipment 100.6 101.2 101.2
21 Construction supplies 104.6 104.5 104.4
22 Business supplies 121.5 121.8 123.2
23 Materials 112.2 112.6 113.8
24 Non-energy 115.8 116.4 117.2
25 Durable 127.8 128.6 129.4
26 Consumer parts 110.1 110.4 113.4
27 Equipment parts 182.3 183.6 184.2
28 Other 97.2 97.9 97.7
29 Nondurable 97.3 97.6 98.4
30 Textile 78.2 78.5 79.6
31 Paper 94.8 93.6 95.8
32 Chemical 100.4 100.6 101.3
33 Energy 98.5 98.6 101.0
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment, and
semiconductors 100.5 100.8 101.5
35 Total excluding motor vehicles
and parts 110.1 110.3 110.8
Gross value
(billions of 1996
dollars, annual rates)
36 Final products and nonindustrial 2,802.2 2,809.9 2,828.0
supplies
37 Final products 2,021.4 2,028.7 2,042.2
38 Consumer goods 1,384.8 1,390.2 1,404.1
39 Equipment total 628.1 629.9 627.9
40 Nonindustrial supplies 780.9 781.3 785.9
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 111.4 111.9 112.3
42 Manufacturing (NAICS) 111.9 112.2 112.7
43 Durable manufacturing 121.2 121.8 122.2
44 Wood products 101.0 102.2 101.9
45 Nonmetallic mineral products 107.7 106.6 107.7
46 Primary metal 85.9 86.2 85.0
47 Fabricated metal products 99.7 99.3 99.7
48 Machinery 88.5 88.9 88.4
49 Computer and electronic
products 220.0 220.8 221.5
50 Electrical equipment,
appliances, and components 98.9 98.7 98.4
51 Motor vehicles and parts 115.8 118.6 122.1
52 Aerospace and miscellaneous
transportation equipment 87.6 86.9 85.7
53 Furniture and related products 101.5 101.6 101.4
54 Miscellaneous 110.2 110.7 110.6
55 Nondurable manufacturing 99.7 99.9 100.4
56 Food, beverage, and tobacco
products 100.6 100.9 100.5
57 Textile and product mills 83.6 83.4 83.9
58 Apparel and leather 72.7 72.6 73.0
59 Paper 95.0 94.7 95.2
60 Printing and support 96.2 95.5 98.4
61 Petroleum and coal products 103.4 102.4 103.0
62 Chemical 105.0 105.7 106.9
63 Plastics and rubber products 106.7 107.4 107.5
64 Other manufacturing (non-NAICS) 104.2 105.5 105.0
65 Mining 93.4 93.5 94.4
66 Utilities 110.1 110.1 113.7
67 Electric 111.2 111.4 115.7
68 Natural gas 104.4 103.2 102.7
69 Manufacturing excluding computers,
communications equipment, and
semiconductors 99.9 100.2 100.6
70 Manufacturing excluding motor
vehicles and parts 111.0 111.3 111.4
2002
Group Aug. Sept. Oct.
Index (1997=100)
MAJOR MARKETS
1 Total IP 111.3 111.2 110.6
Market groups
2 Final products and nonindustrial
supplies 109.8 109.8 109.1
3 Consumer goods 107.8 107.9 107.0
4 Durable 119.3 118.7 117.0
5 Automotive products 130.6 129.3 125.9
6 Home electronics 135.4 142.6 140.1
7 Appliances, furniture,
carpeting 104.5 104.6 104.9
8 Miscellaneous goods 98.3 97.8 98.2
9 Nondurable 103.8 104.2 103.6
10 Non-energy 102.4 102.6 102.0
11 Foods and tobacco 99.2 99.1 98.7
12 Clothing 71.3 72.1 70.2
13 Chemical products 119.0 119.5 118.3
14 Paper products 108.4 109.8 110.0
15 Energy 111.6 112.8 111.8
16 Business equipment 108.1 106.9 106.0
17 Transit 81.1 79.7 77.3
18 Information processing 153.7 152.1 153.1
19 Industrial and other 92.9 92.0 91.2
20 Defense and space equipment 101.9 102.0 102.5
21 Construction supplies 104.8 104.5 104.2
22 Business supplies 122.6 123.6 123.1
23 Materials 113.6 113.4 112.8
24 Non-energy 117.4 117.2 116.7
25 Durable 130.0 129.5 129.5
26 Consumer parts 112.3 112.4 111.7
27 Equipment parts 186.3 185.7 185.7
28 Other 98.3 97.7 98.0
29 Nondurable 98.2 98.3 97.1
30 Textile 77.8 78.4 77.2
31 Paper 96.1 96.7 96.8
32 Chemical 100.7 100.2 98.2
33 Energy 99.3 99.1 98.4
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment, and
semiconductors 101.2 101.2 100.5
35 Total excluding motor vehicles
and parts 110.5 110.5 110.0
Gross value
(billions of 1996
dollars, annual rates)
36 Final products and nonindustrial 2,821.5 2,817.8 2,793.6
supplies
37 Final products 2,038.1 2,031.4 2,010.8
38 Consumer goods 1,395.9 1,394.3 1,379.1
39 Equipment total 633.6 627.7 622.6
40 Nonindustrial supplies 783.5 786.6 783.2
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 112.4 112.1 111.4
42 Manufacturing (NAICS) 112.8 112.4 111.7
43 Durable manufacturing 122.7 122.0 121.5
44 Wood products 102.5 100.7 99.2
45 Nonmetallic mineral products 108.5 109.8 109.3
46 Primary metal 87.6 85.0 87.6
47 Fabricated metal products 99.3 99.4 99.8
48 Machinery 89.4 88.2 86.8
49 Computer and electronic
products 223.0 223.2 224.2
50 Electrical equipment,
appliances, and components 98.0 96.5 96.6
51 Motor vehicles and parts 122.0 121.1 118.3
52 Aerospace and miscellaneous
transportation equipment 86.3 85.7 85.5
53 Furniture and related products 100.5 101.4 100.7
54 Miscellaneous 110.2 109.1 109.3
55 Nondurable manufacturing 100.0 100.0 99.1
56 Food, beverage, and tobacco
products 100.0 99.9 99.5
57 Textile and product mills 82.5 82.3 81.3
58 Apparel and leather 71.2 71.8 70.2
59 Paper 95.8 96.1 95.7
60 Printing and support 98.6 99.9 99.5
61 Petroleum and coal products 102.7 101.0 99.4
62 Chemical 106.2 106.1 104.6
63 Plastics and rubber products 107.3 107.2 106.4
64 Other manufacturing (non-NAICS) 105.8 107.1 106.7
65 Mining 93.9 92.2 92.3
66 Utilities 110.4 113.3 112.1
67 Electric 112.2 115.8 113.7
68 Natural gas 100.8 99.9 103.6
69 Manufacturing excluding computers,
communications equipment, and
semiconductors 100.6 100.4 99.7
70 Manufacturing excluding motor
vehicles and parts 111.5 111.3 110.8
2002
Group Nov. (r) Dec. (r)
Index (1997=100)
MAJOR MARKETS
1 Total IP 110.8 110.1
Market groups
2 Final products and nonindustrial
supplies 109.3 108.3
3 Consumer goods 107.8 106.7
4 Durable 121.0 117.8
5 Automotive products 132.4 125.9
6 Home electronics 142.1 145.3
7 Appliances, furniture,
carpeting 107.1 107.8
8 Miscellaneous goods 98.3 98.7
9 Nondurable 103.3 102.9
10 Non-energy 101.3 100.9
11 Foods and tobacco 97.9 97.4
12 Clothing 70.6 70.0
13 Chemical products 118.0 117.1
14 Paper products 108.8 109.1
15 Energy 114.0 113.3
16 Business equipment 106.1 104.7
17 Transit 77.9 75.0
18 Information processing 152.8 152.6
19 Industrial and other 91.1 90.0
20 Defense and space equipment 101.7 102.3
21 Construction supplies 103.8 102.8
22 Business supplies 122.5 122.0
23 Materials 113.1 112.8
24 Non-energy 116.7 116.2
25 Durable 129.7 128.5
26 Consumer parts 114.6 111.5
27 Equipment parts 185.3 184.6
28 Other 97.2 96.9
29 Nondurable 97.0 97.3
30 Textile 77.0 75.6
31 Paper 96.9 98.7
32 Chemical 97.9 97.4
33 Energy 99.4 99.7
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment, and
semiconductors 100.6 100.0
35 Total excluding motor vehicles
and parts 109.8 109.6
Gross value
(billions of
1996 dollars,
annual rates)
36 Final products and nonindustrial 2,817.8 2,785.7
supplies
37 Final products 2,037.3 2,011.2
38 Consumer goods 1,402.0 1,384.5
39 Equipment total 624.4 615.9
40 Nonindustrial supplies 780.5 774.6
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 111.6 110.8
42 Manufacturing (NAICS) 112.0 111.1
43 Durable manufacturing 122.2 120.7
44 Wood products 98.3 96.7
45 Nonmetallic mineral products 110.2 109.2
46 Primary metal 86.2 84.2
47 Fabricated metal products 98.7 98.9
48 Machinery 87.4 85.8
49 Computer and electronic
products 224.5 224.1
50 Electrical equipment,
appliances, and components 97.0 98.0
51 Motor vehicles and parts 123.9 117.8
52 Aerospace and miscellaneous
transportation equipment 84.8 84.9
53 Furniture and related products 100.6 99.3
54 Miscellaneous 108.6 110.1
55 Nondurable manufacturing 98.9 98.7
56 Food, beverage, and tobacco
products 98.6 98.3
57 Textile and product mills 81.7 81.0
58 Apparel and leather 70.5 69.8
59 Paper 96.8 97.5
60 Printing and support 98.4 99.6
61 Petroleum and coal products 103.9 105.0
62 Chemical 104.2 103.6
63 Plastics and rubber products 105.8 104.6
64 Other manufacturing (non-NAICS) 105.4 105.7
65 Mining 93.6 95.4
66 Utilities 112.1 110.5
67 Electric 113.3 112.2
68 Natural gas 105.8 101.6
69 Manufacturing excluding computers,
communications equipment, and
semiconductors 99.8 99.1
70 Manufacturing excluding motor
vehicles and parts 110.5 110.2
2003
Group Jan. (r) Feb. (p)
Index (1997=100)
MAJOR MARKETS
1 Total IP 111.0 111.1
Market groups
2 Final products and nonindustrial
supplies 109.3 109.3
3 Consumer goods 107.8 107.5
4 Durable 120.5 118.7
5 Automotive products 131.3 128.4
6 Home electronics 144.1 143.2
7 Appliances, furniture,
carpeting 105.9 106.4
8 Miscellaneous goods 99.3 98.2
9 Nondurable 103.5 103.6
10 Non-energy 101.2 101.1
11 Foods and tobacco 97.9 97.2
12 Clothing 70.0 69.7
13 Chemical products 117.0 117.6
14 Paper products 109.8 110.8
15 Energy 115.6 116.9
16 Business equipment 105.6 105.6
17 Transit 75.2 74.1
18 Information processing 155.9 156.2
19 Industrial and other 90.3 90.6
20 Defense and space equipment 104.0 104.2
21 Construction supplies 103.0 102.8
22 Business supplies 123.5 124.4
23 Materials 113.4 113.8
24 Non-energy 116.8 116.8
25 Durable 130.2 130.1
26 Consumer parts 115.0 113.0
27 Equipment parts 186.6 189.1
28 Other 97.4 97.1
29 Nondurable 96.4 96.8
30 Textile 75.8 75.8
31 Paper 96.1 96.8
32 Chemical 97.2 97.7
33 Energy 100.5 101.8
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment, and
semiconductors 100.7 100.7
35 Total excluding motor vehicles
and parts 110.1 110.4
Gross value
(billions of
1996 dollars,
annual rates)
36 Final products and nonindustrial 2,812.0 2,808.1
supplies
37 Final products 2,031.1 2,024.2
38 Consumer goods 1,399.1 1,392.6
39 Equipment total 620.7 621.0
40 Nonindustrial supplies 781.0 784.1
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing 111.5 111.4
42 Manufacturing (NAICS) 111.8 111.7
43 Durable manufacturing 122.3 121.9
44 Wood products 99.4 98.2
45 Nonmetallic mineral products 109.3 109.7
46 Primary metal 85.2 84.1
47 Fabricated metal products 99.1 98.3
48 Machinery 86.6 87.0
49 Computer and electronic
products 227.5 230.4
50 Electrical equipment,
appliances, and components 97.2 98.0
51 Motor vehicles and parts 123.1 120.2
52 Aerospace and miscellaneous
transportation equipment 85.5 85.0
53 Furniture and related products 99.0 99.3
54 Miscellaneous 109.2 109.0
55 Nondurable manufacturing 98.5 98.6
56 Food, beverage, and tobacco
products 98.7 98.1
57 Textile and product mills 79.7 80.2
58 Apparel and leather 69.9 69.6
59 Paper 94.4 95.5
60 Printing and support 101.1 101.1
61 Petroleum and coal products 102.1 102.7
62 Chemical 103.6 104.3
63 Plastics and rubber products 105.1 105.2
64 Other manufacturing (non-NAICS) 106.1 106.8
65 Mining 93.7 94.6
66 Utilities 114.9 116.4
67 Electric 116.8 118.1
68 Natural gas 105.1 107.4
69 Manufacturing excluding computers,
communications equipment, and
semiconductors 99.6 99.4
70 Manufacturing excluding motor
vehicles and parts 110.5 110.6
Note. The statistics in the G.17 release cover output, capacity,
and capacity utilization in the industrial sector, which the Federal
Reserve defines are manufacturing, mining, and electric and gas
utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS,
manufacturing plus those industries--logging and newspaper,
periodical, book, and directory publishing--that have traditionally
been considered manufacturing and included in the industrial sector.
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's
web site http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in December 2002. The
recent annual revision is described in the April 2003 issue of
the Bulletin.
(2.) North American Industry Classification System.
Summary Statistics
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted except as
noted (1)
Item credits or debits 2000 2001
1 Balance on current account -410,341 -393,371
2 Balance on goods and services -378,681 -358,290
3 Exports 1,064,239 998,022
4 Imports -1,442,920 1,356,312
5 Income, net 21,782 14,382
6 Investment, net 27,651 20,539
7 Direct 88,862 102,595
8 Portfolio -61,211 -82,056
9 Compensation of employees -5,869 -6,157
10 Unilateral current transfers, net -53,442 -49,463
11 Change in U.S. government assets
other than official reserve assets,
net (increase, -) -941 -486
12 Change in U.S. official reserve
assets (increase, -) -290 -4,911
13 Gold 0 0
14 Special drawing rights (SDRs) -722 -630
15 Reserve position in International
Monetary Fund 2,308 -3,600
16 Foreign currencies -1,876 -681
17 Change in U.S. private assets abroad
(increase, -) -605,258 -365,565
18 Bank-reported claims (2) -148,657 -128,705
19 Nonbank-reported claims -150,805 -14,358
20 U.S. purchase of foreign
securities, net -127,502 -94,662
21 U.S. direct investments abroad, net -178,294 -127,840
22 Change in foreign official assets in
United States (increase, +) 37,640 5,224
23 U.S. Treasury securities -10,233 10,745
24 Other U.S. government obligations 40,909 20,920
25 Other U.S. government
liabilities (2) -1,909 -1,882
26 Other U.S. liabilities reported by
U.S. banks (2) 5,746 -30,278
27 Other foreign official assets (3) 3,127 5,719
28 Change in foreign private assets in
United States (increase, +) 978,346 747,582
29 U.S. bank-reported liabilities (4) 116,971 110,667
30 U.S. nonbank-reported liabilities 174,251 82,353
31 Foreign private purchases of U.S.
Treasury securities, net -76,965 -7,670
32 U.S. currency flows 1,129 23,783
33 Foreign purchases of other U.S.
securities, net 455,213 407,653
34 Foreign direct investments in
United States, net 307,747 130,796
35 Capital account transactions, net (5) 837 826
36 Discrepancy 7 10,701
37 Due to seasonal adjustment ... ...
38 Before seasonal adjustment 7 10,701
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) -290 -4,911
40 Foreign official assets in United
States, excluding line 25
(increase, +) 39,549 7,106
41 Change in Organization of Petroleum
Exporting Countries official assets
in United States (part of line 22) 12,000 -1,725
2001
Item credits or debits 2002 Q4
1 Balance on current account -503,427 -95,086
2 Balance on goods and services -435,542 -88,028
3 Exports 971,864 232,930
4 Imports -1,407,406 -320,958
5 Income, net -11,862 6,521
6 Investment, net -5,424 8,102
7 Direct 77,947 28,602
8 Portfolio -83,371 -20,500
9 Compensation of employees -6,438 -1,581
10 Unilateral current transfers, net -56,023 -13,579
11 Change in U.S. government assets
other than official reserve assets,
net (increase, -) 379 143
12 Change in U.S. official reserve
assets (increase, -) -3,681 -199
13 Gold 0 0
14 Special drawing rights (SDRs) -475 -140
15 Reserve position in International
Monetary Fund -2,632 83
16 Foreign currencies -574 -142
17 Change in U.S. private assets abroad
(increase, -) -152,867 -100,032
18 Bank-reported claims (2) -3,072 -83,682
19 Nonbank-reported claims -28,489 37,210
20 U.S. purchase of foreign
securities, net 2,222 -26,090
21 U.S. direct investments abroad, net -123,528 -27,470
22 Change in foreign official assets in
United States (increase, +) 96,630 5,086
23 U.S. Treasury securities 43,656 16,760
24 Other U.S. government obligations 30,357 7,630
25 Other U.S. government
liabilities (2) 158 -504
26 Other U.S. liabilities reported by
U.S. banks (2) 18,831 -20,507
27 Other foreign official assets (3) 3,628 1,707
28 Change in foreign private assets in
United States (increase, +) 533,734 245,711
29 U.S. bank-reported liabilities (4) 94,605 85,598
30 U.S. nonbank-reported liabilities 49,736 1,170
31 Foreign private purchases of U.S.
Treasury securities, net 53,155 27,229
32 U.S. currency flows 21,513 10,497
33 Foreign purchases of other U.S.
securities, net 284,611 99,320
34 Foreign direct investments in
United States, net 30,114 21,897
35 Capital account transactions, net (5) 708 205
36 Discrepancy 28,524 -55,828
37 Due to seasonal adjustment ... 1,721
38 Before seasonal adjustment 28,524 -57,549
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) -3,681 -199
40 Foreign official assets in United
States, excluding line 25
(increase, +) 96,472 5,590
41 Change in Organization of Petroleum
Exporting Countries official assets
in United States (part of line 22) -8,132 3,382
2002
Item credits or debits Q1 Q2
1 Balance on current account -112,542 -127,697
2 Balance on goods and services -95,629 -109,446
3 Exports 232,959 244,251
4 Imports -328,588 -353,697
5 Income, net -982 -5,324
6 Investment, net 636 -3,675
7 Direct 22,023 18,749
8 Portfolio -21,387 -22,424
9 Compensation of employees -1,618 -1,649
10 Unilateral current transfers, net -15,931 -12,927
11 Change in U.S. government assets
other than official reserve assets,
net (increase, -) 133 42
12 Change in U.S. official reserve
assets (increase, -) 390 -1,843
13 Gold 0 0
14 Special drawing rights (SDRs) -109 -107
15 Reserve position in International
Monetary Fund 652 -1,607
16 Foreign currencies -153 -129
17 Change in U.S. private assets abroad
(increase, -) -26,707 -129,544
18 Bank-reported claims (2) 727 -68,655
19 Nonbank-reported claims 65 -16,693
20 U.S. purchase of foreign
securities, net 2,047 -9,675
21 U.S. direct investments abroad, net -29,546 -34,521
22 Change in foreign official assets in
United States (increase, +) 7,641 47,252
23 U.S. Treasury securities -582 15,193
24 Other U.S. government obligations 7,296 6,548
25 Other U.S. government
liabilities (2) -790 54
26 Other U.S. liabilities reported by
U.S. banks (2) 991 24,531
27 Other foreign official assets (3) 726 926
28 Change in foreign private assets in
United States (increase, +) 105,959 157,159
29 U.S. bank-reported liabilities (4) -11,051 32,240
30 U.S. nonbank-reported liabilities 32,345 21,056
31 Foreign private purchases of U.S.
Treasury securities, net -7,282 -5,124
32 U.S. currency flows 4,525 7,183
33 Foreign purchases of other U.S.
securities, net 71,095 104,404
34 Foreign direct investments in
United States, net 16,327 -2,600
35 Capital account transactions, net (5) 208 200
36 Discrepancy 24,918 54,431
37 Due to seasonal adjustment 10,269 1,504
38 Before seasonal adjustment 14,649 52,927
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) 390 -1,843
40 Foreign official assets in United
States, excluding line 25
(increase, +) 8,431 47,198
41 Change in Organization of Petroleum
Exporting Countries official assets
in United States (part of line 22) -8,532 838
2002
Item credits or debits Q3 Q4 (p)
1 Balance on current account -126,337 -136,854
2 Balance on goods and services -110,257 -120,213
3 Exports 248,917 245,740
4 Imports -359,174 -365,953
5 Income, net -3,007 -2,553
6 Investment, net -1,462 -927
7 Direct 18,626 18,548
8 Portfolio -20,088 -19,475
9 Compensation of employees -1,545 -1,626
10 Unilateral current transfers, net -13,073 -14,088
11 Change in U.S. government assets
other than official reserve assets,
net (increase, -) -27 231
12 Change in U.S. official reserve
assets (increase, -) -1,416 -812
13 Gold 0 0
14 Special drawing rights (SDRs) -132 -127
15 Reserve position in International
Monetary Fund -1,136 -541
16 Foreign currencies -148 -144
17 Change in U.S. private assets abroad
(increase, -) 41,714 -38,334
18 Bank-reported claims (2) 53,815 11,041
19 Nonbank-reported claims -4,226 -7,635
20 U.S. purchase of foreign
securities, net 18,543 -8,693
21 U.S. direct investments abroad, net -26,418 -33,047
22 Change in foreign official assets in
United States (increase, +) 9,534 32,203
23 U.S. Treasury securities 1,415 27,630
24 Other U.S. government obligations 10,885 5,628
25 Other U.S. government
liabilities (2) 1,001 -107
26 Other U.S. liabilities reported by
U.S. banks (2) -4,602 -2,089
27 Other foreign official assets (3) 835 1,141
28 Change in foreign private assets in
United States (increase, +) 119,786 150,827
29 U.S. bank-reported liabilities (4) 18,793 54,623
30 U.S. nonbank-reported liabilities -3,804 139
31 Foreign private purchases of U.S.
Treasury securities, net 52,856 12,705
32 U.S. currency flows 2,556 7,249
33 Foreign purchases of other U.S.
securities, net 46,494 62,618
34 Foreign direct investments in
United States, net 2,891 13,493
35 Capital account transactions, net (5) 156 144
36 Discrepancy -43,410 -7,405
37 Due to seasonal adjustment -13,991 2,228
38 Before seasonal adjustment -29,419 -9,633
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) -1,416 -812
40 Foreign official assets in United
States, excluding line 25
(increase, +) 8,533 32,310
41 Change in Organization of Petroleum
Exporting Countries official assets
in United States (part of line 22) -1,289 851
(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.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
2002
Asset 1999 2000 2001 Aug.
1 Total 71,516 67,647 68,654 75,307
2 Gold stock (1) 11,048 11,046 11,045 11,042
3 Special drawing rights (2),(3) 10,336 10,539 10,774 11,752
4 Reserve position in Interna-
tional Monetary Fund (2) 17,950 14,824 17,854 20,043
5 Foreign currencies (4) 32,182 31,238 28,981 32,470
2002
Asset Sept. Oct. Nov. Dec.
1 Total 75,860 75,499 75,690 79,006
2 Gold stock (1) 11,042 11,042 11,043 11,043
3 Special drawing rights (2),(3) 11,710 11,700 11,855 12,166
4 Reserve position in Interna-
tional Monetary Fund (2) 20,857 20,586 20,480 21,979
5 Foreign currencies (4) 32,251 32,171 32,312 33,818
2003
Asset Jan. Feb. Mar. (p)
1 Total 78,434 78,579 80,049
2 Gold stock (1) 11,043 11,043 11,043
3 Special drawing rights (2),(3) 11,298 11,368 11,392
4 Reserve position in Interna-
tional Monetary Fund (2) 21,953 21,686 22,858
5 Foreign currencies (4) 34,140 34,482 34,756
(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
2002
Asset 1999 2000 2001 Aug.
1 Deposits 71 215 61 86
Held in custody
2 U.S. Treasury securities (2) 632,482 594,094 592,630 638,003
3 Earmarked gold (3) 9,933 9,451 9,099 9,064
2002
Asset Sept. Oct. Nov. Dec.
1 Deposits 150 89 78 136
Held in custody
2 U.S. Treasury securities (2) 644,381 647,165 669,092 678,106
3 Earmarked gold (3) 9,057 9,050 9,045 9,045
2003
Asset Jan. Feb. Mar. (p)
1 Deposits 102 224 254
Held in custody
2 U.S. Treasury securities (2) 683,837 700,341 710,955
3 Earmarked gold (3) 9,045 9,045 9,045
(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
2002
Item 2000 (r) 2001 (r) July (r)
1 Total (1) 975,304 987,568 1,046,327
By type
2 Liabilities reported by banks in
the United States (2) 144,593 123,425 141,870
3 U.S. Treasury bills and
certificates (3) 153,010 161,719 187,997
U.S. Treasury bonds and notes
4 Marketable 450,832 454,306 449,736
5 Nonmarketable (4) 5,348 3,411 3,020
6 U.S. securities other than U.S.
Treasury securities (5) 221,521 244,707 263,704
By area
7 Europe (1) 240,325 243,448 256,529
8 Canada 13,727 13,440 10,682
9 Latin America and Caribbean 70,442 71,103 62,863
10 Asia 626,017 635,180 690,405
11 Africa 14,690 15,167 15,233
12 Other countries 10,101 9,228 10,613
2002
Item Aug. (r) Sept. Oct.
1 Total (1) 1,048,990 1,050,056 1,048,005
By type
2 Liabilities reported by banks in
the United States (2) 138,281 143,028 136,637
3 U.S. Treasury bills and
certificates (3) 188,805 185,187 188,474
U.S. Treasury bonds and notes
4 Marketable 450,371 446,860 446,307
5 Nonmarketable (4) 3,040 3,058 3,078
6 U.S. securities other than U.S.
Treasury securities (5) 268,493 271,923 273,509
By area
7 Europe (1) 255,235 260,423 254,343
8 Canada 10,886 10,097 10,300
9 Latin America and Caribbean 62,026 62,227 64,289
10 Asia 693,752 690,902 692,351
11 Africa 15,257 14,514 15,524
12 Other countries 11,832 11,891 11,196
2002 2003
Item Nov. Dec. Jan. (p)
1 Total (1) 1,069,610 1,082,363 1,087,200
By type
2 Liabilities reported by banks in
the United States (2) 138,414 140,935 136,962
3 U.S. Treasury bills and
certificates (3) 190,111 190,375 194,762
U.S. Treasury bonds and notes
4 Marketable 462,884 469,592 468,956
5 Nonmarketable (4) 3,097 2,769 2,786
6 U.S. securities other than U.S.
Treasury securities (5) 275,104 278,692 283,734
By area
7 Europe (1) 265,751 273,052 270,065
8 Canada 10,975 11,079 10,455
9 Latin America and Caribbean 63,002 63,244 62,016
10 Asia 701,172 706,287 718,275
11 Africa 15,602 15,338 14,589
12 Other countries 13,106 13,361 11,798
(1.) Includes the Bank for International Settlements.
(2.) Principally demand deposits, time deposits, bankers acceptances,
commercial paper, negotiable time certificates of deposit, and
borrowings under repurchase agreements.
(3.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(4.) Excludes notes issued to foreign official nonreserve agencies.
Includes current value of zero-coupon Treasury bond issues to foreign
governments as follows: Mexico, beginning March 1990, 30-year maturity
issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
(5.) Debt securities of U.S. government corporations and federally
sponsored agencies, and U.S. corporate stocks and bonds.
SOURCE. Based on U.S. Department of the Treasury data and on data
reported to the Treasury by banks (including Federal Reserve Banks)
and securities dealers in the United States, and in periodic benchmark
surveys of foreign portfolio investment in the United States.
Bank-Reported Data
3.16 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Reported by Banks in the United States (1)
Payable in Foreign Currencies
Millions of dollars, end of period
2002
Item 1999 2000 2001 Mar.
1 Banks' liabilities 88,537 77,779 79,363 74,955
2 Banks' claims 67,365 56,912 74,840 77,746
3 Deposits 34,426 23,315 44,094 46,778
4 Other claims 32,939 33,597 30,746 30,968
5 Claims of banks' domestic
customers (2) 20,826 24,411 17,631 16,642
2002
Item June (r) Sept. (r) Dec.
1 Banks' liabilities 89,823 81,719 80,541
2 Banks' claims 90,622 85,165 76,618
3 Deposits 51,860 44,511 33,085
4 Other claims 38,762 40,654 43,533
5 Claims of banks' domestic
customers (2) 15,848 20,475 33,632
(1.) Data on claims exclude foreign currencies held by U.S. monetary
authorities.
(2.) Assets owned by customers of the reporting bank located in the
United States that represent claims on foreigners held by reporting
banks for the accounts of the domestic customers.
3.17 LIABILITIES TO FOREIGNERS Reported by Banks in the United
States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Item 2000 2001
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,511,410 1,636,538
2 Banks' own liabilities 1,077,636 1,181,097
3 Demand deposits 33,365 33,603
4 Time deposits (2) 187,883 158,139 (r)
5 Other (3) 171,401 197,064 (r)
6 Own foreign offices (4) 684,987 792,291
7 Banks' custodial liabilities (5) 433,774 455,441
8 U.S. Treasury bills and
certificates (6) 177,846 186,115
9 Short-term agency securities (7) n.a. 59,781
10 Other negotiable and readily
transferable instruments (8) 145,840 80,026
11 Other 110,088 129,519
12 Nonmonetary international and
regional organizations (9) 12,542 10,830
13 Banks' own liabilities 12,140 10,169
14 Demand deposits 41 35
15 Time deposits (2) 6,246 3,756
16 Other (3) 5,853 6,378
17 Banks' custodial liabilities (5) 402 661
18 U.S. Treasury bills and
certificates (6) 252 600
19 Short-term agency
securities (7) n.a. 40
20 Other negotiable and readily
transferable instruments (8) 149 21
21 Other 1 0
22 Official institutions (10) 297,603 285,144 (r)
23 Banks' own liabilities 96,989 83,824 (r)
24 Demand deposits 3,952 2,988
25 Time deposits (2) 35,573 19,680 (r)
26 Other (3) 57,464 61,156 (r)
27 Banks' custodial liabilities (5) 200,614 201,320
28 U.S. Treasury bills and
certificates (6) 153,010 161,719
29 Short-term agency
securities (7) n.a. 36,351
30 Other negotiable and readily
transferable instruments (8) 47,366 2,180
31 Other 238 1,070
32 Banks (11) 972,932 1,053,084 (r)
33 Banks' own liabilities 821,306 914,492 (r)
34 Unaffiliated foreign banks 136,319 122,201 (r)
35 Demand deposits 15,522 13,091
36 Time deposits (2) 66,904 55,565 (r)
37 Other (3) 53,893 53,545 (r)
38 Own foreign offices (4) 684,987 792,291
39 Banks' custodial liabilities (5) 151,626 138,592
40 U.S. Treasury bills and
certificates (6) 16,023 11,541
41 Short-term agency
securities (7) n.a. 2,078
42 Other negotiable and readily
transferable instruments (8) 36,036 21,981
43 Other 99,567 102,992
44 Other foreigners 228,333 287,480
45 Banks' own liabilities 147,201 172,612
46 Demand deposits 13,850 17,489
47 Time deposits (2) 79,160 79,138
48 Other (3) 54,191 75,985
49 Banks' custodial liabilities (5) 81,132 114,868
50 U.S. Treasury bills and
certificates (6) 8,561 12,255
51 Short-term agency securities (7) n.a. 21,312
52 Other negotiable and readily
transferable instruments (8) 62,289 55,844
53 Other 10,282 25,457
MEMO
54 Negotiable time certificates of
deposits in custody for
foreigners 34,217 20,440
55 Repurchase agreements (7) n.a. 151,143 (r)
AREA OR COUNTRY
56 Total, all foreigners 1,511,410 1,636,538
57 Foreign countries 1,498,867 1,625,708
58 Europe 446,788 521,331
59 Austria 2,692 2,922
60 Belgium (12) 33,399 6,557
61 Denmark 3,000 3,626
62 Finland 1,411 1,446
63 France 37,833 49,056
64 Germany 35,519 22,375
65 Greece 2,011 2,307
66 Italy 5,072 6,354
67 Luxembourg (12) n.a. 16,894
68 Netherlands 7,047 12,411
69 Norway 2,305 3,727
70 Portugal 2,403 4,033
71 Russia 19,018 20,800
72 Spain 7,787 8,811
73 Sweden 6,497 3,375
74 Switzerland 74,635 66,403
75 Turkey 7,548 7,474
76 United Kingdom 167,757 204,396
77 Channel Islands and Isle of
Man (13) n.a. 36,059
78 Yugoslavia (14) 276 309
79 Other Europe and other former
U.S.S.R. (15) 30,578 41,996
80 Canada 30,982 27,251
81 Latin America 120,041 118,025
82 Argentina 19,451 10,704
83 Brazil 10,852 14,169
84 Chile 5,892 4,939
85 Colombia 4,542 4,695
86 Ecuador 2,112 2,390
87 Guatemala 1,601 1,882
88 Mexico 32,166 39,871
89 Panama 4,240 3,610
90 Peru 1,427 1,359
91 Uruguay 3,003 3,172
92 Venezuela 24,730 24,974
93 Other Latin America (16) 10,025 6,260
94 Caribbean 573,337 646,987
95 Bahamas 189,298 178,472
96 Bermuda 9,636 10,539
97 British West Indies (17) 367,197 n.a.
98 Cayman Islands (17) n.a. 440,038
99 Cuba 90 88
100 Jamaica 794 1,182
101 Netherlands Antilles 5,428 3,264
102 Trinidad and Tobago 894 1,269
103 Other Caribbean (16) n.a. 12,135
104 Asia 305,554 294,496
China
105 Mainland 16,531 10,498
106 Taiwan 17,352 17,633
107 Hong Kong 26,462 26,494
108 India 4,530 3,708
109 Indonesia 8,514 12,383
110 Israel 8,053 7,870
111 Japan 150,415 155,314
112 Korea (South) 7,955 9,019
113 Philippines 2,316 1,772
114 Thailand 3,117 4,743
115 Middle Eastern oil-exporting
countries (18) 23,763 20,035
116 Other 36,546 25,027
117 Africa 10,824 11,365
118 Egypt 2,621 2,778
119 Morocco 139 274
120 South Africa 1,010 839
121 Congo (formerly Zaire) 4 4
122 Oil-exporting countries (19) 4,052 4,377
123 Other 2,998 3,093
124 Other countries 11,341 6,253
125 Australia 10,070 5,599
126 New Zealand (20) n.a. 242
127 All other 1,271 412
128 Nonmonetary international and
regional organizations 12,543 10,830
129 International (21) 11,270 9,331
130 Latin American regional (22) 740 480
131 Other regional (23) 533 935
2002
Item 2002 July
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,818,537 (r) 1,705,426
2 Banks' own liabilities 1,274,247 (r) 1,179,129
3 Demand deposits 35,273 (r) 32,558
4 Time deposits (2) 134,716 (r) 128,215
5 Other (3) 251,787 (r) 253,602
6 Own foreign offices (4) 852,471 (r) 764,754
7 Banks' custodial liabilities (5) 544,290 526,297
8 U.S. Treasury bills and
certificates (6) 229,511 224,429
9 Short-term agency securities (7) 73,475 70,872
10 Other negotiable and readily
transferable instruments (8) 90,673 88,061
11 Other 150,631 142,935
12 Nonmonetary international and
regional organizations (9) 13,503 11,495
13 Banks' own liabilities 12,396 10,993
14 Demand deposits 44 15
15 Time deposits (2) 5,759 (r) 7,394
16 Other (3) 6,593 (r) 3,584
17 Banks' custodial liabilities (5) 1,107 502
18 U.S. Treasury bills and
certificates (6) 1,089 481
19 Short-term agency
securities (7) 0 0
20 Other negotiable and readily
transferable instruments (8) 18 21
21 Other 0 0
22 Official institutions (10) 331,310 (r) 329,867
23 Banks' own liabilities 90,738 (r) 93,571
24 Demand deposits 2,535 2,146
25 Time deposits (2) 17,583 (r) 13,879
26 Other (3) 70,620 (r) 77,546
27 Banks' custodial liabilities (5) 240,572 236,296
28 U.S. Treasury bills and
certificates (6) 190,375 187,997
29 Short-term agency
securities (7) 48,469 45,184
30 Other negotiable and readily
transferable instruments (8) 1,664 2,281
31 Other 64 834
32 Banks (11) 1,168,124 (r) 1,059,823
33 Banks' own liabilities 973,235 (r) 875,066
34 Unaffiliated foreign banks 120,764 (r) 110,312
35 Demand deposits 14,168 12,790
36 Time deposits (2) 40,424 (r) 34,871
37 Other (3) 66,172 62,651
38 Own foreign offices (4) 852,471 (r) 764,754
39 Banks' custodial liabilities (5) 194,889 184,757
40 U.S. Treasury bills and
certificates (6) 21,308 20,087
41 Short-term agency
securities (7) 6,448 4,837
42 Other negotiable and readily
transferable instruments (8) 40,722 41,468
43 Other 126,411 118,365
44 Other foreigners 305,600 (r) 304,241
45 Banks' own liabilities 197,878 (r) 199,499
46 Demand deposits 18,526 (r) 17,607
47 Time deposits (2) 70,950 (r) 72,071
48 Other (3) 108,402 109,821
49 Banks' custodial liabilities (5) 107,722 104,742
50 U.S. Treasury bills and
certificates (6) 16,739 15,864
51 Short-term agency securities (7) 18,558 20,851
52 Other negotiable and readily
transferable instruments (8) 48,269 44,291
53 Other 24,156 23,736
MEMO
54 Negotiable time certificates of
deposits in custody for
foreigners 26,084 29,399
55 Repurchase agreements (7) 190,134 (r) 190,092 (r)
AREA OR COUNTRY
56 Total, all foreigners 1,818,537 (r) 1,705,426
57 Foreign countries 1,805,034 (r) 1,693,931
58 Europe 627,556 (r) 533,768
59 Austria 2,473 2,862
60 Belgium (12) 8,611 6,462
61 Denmark 4,880 3,478
62 Finland 1,693 3,503
63 France 39,640 39,809
64 Germany 34,398 27,832
65 Greece 2,975 2,816
66 Italy 4,744 3,900
67 Luxembourg (12) 28,626 24,294
68 Netherlands 10,722 6,012
69 Norway 18,867 14,540
70 Portugal 3,575 3,496
71 Russia 23,147 24,189
72 Spain 14,031 10,400
73 Sweden 4,656 4,815
74 Switzerland 131,506 85,614
75 Turkey 12,131 10,701
76 United Kingdom 181,890 176,397
77 Channel Islands and Isle of
Man (13) 45,728 39,432
78 Yugoslavia (14) 301 279
79 Other Europe and other former
U.S.S.R. (15) 52,962 (r) 42,937
80 Canada 24,959 (r) 26,629
81 Latin America 107,139 (r) 106,225
82 Argentina 11,218 11,574
83 Brazil 10,037 12,556
84 Chile 6,065 6,427
85 Colombia 4,158 3,874
86 Ecuador 2,305 2,324
87 Guatemala 1,381 1,330
88 Mexico 36,152 33,401
89 Panama 3,924 (r) 3,155
90 Peru 1,363 (r) 1,515
91 Uruguay 2,807 (r) 1,919
92 Venezuela 21,887 (r) 21,796
93 Other Latin America (16) 5,842 (r) 6,354
94 Caribbean 703,670 (r) 675,898
95 Bahamas 162,196 160,425
96 Bermuda 23,827 20,436
97 British West Indies (17) n.a. n.a.
98 Cayman Islands (17) 498,960 472,200
99 Cuba 91 92
100 Jamaica 829 931
101 Netherlands Antilles 5,019 3,940
102 Trinidad and Tobago 1,405 1,691
103 Other Caribbean (16) 11,343 (r) 16,183
104 Asia 318,081 330,208
China
105 Mainland 15,504 18,108
106 Taiwan 18,678 (r) 19,077
107 Hong Kong 33,048 34,508
108 India 7,953 7,379
109 Indonesia 14,110 13,589
110 Israel 7,185 9,765
111 Japan 161,331 178,001
112 Korea (South) 8,932 7,039
113 Philippines 1,793 2,081
114 Thailand 7,605 4,591
115 Middle Eastern oil-exporting
countries (18) 16,364 14,234
116 Other 25,578 (r) 21,836
117 Africa 12,240 (r) 12,110
118 Egypt 2,652 3,411
119 Morocco 306 302
120 South Africa 1,114 694
121 Congo (formerly Zaire) 2 1
122 Oil-exporting countries (19) 4,370 3,757
123 Other 3,796 (r) 3,945
124 Other countries 11,389 (r) 9,093
125 Australia 9,333 7,506
126 New Zealand (20) 1,796 1,230
127 All other 260 (r) 357
128 Nonmonetary international and
regional organizations 13,503 11,495
129 International (21) 11,720 10,097
130 Latin American regional (22) 508 386
131 Other regional (23) 1,208 894
2002
Item Aug. Sept.
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,763,311 1,748,201
2 Banks' own liabilities 1,225,442 1,218,213
3 Demand deposits 31,428 32,027
4 Time deposits (2) 128,345 123,330
5 Other (3) 259,415 274,658
6 Own foreign offices (4) 806,254 788,198
7 Banks' custodial liabilities (5) 537,869 529,988
8 U.S. Treasury bills and
certificates (6) 227,338 224,733
9 Short-term agency securities (7) 72,848 71,048
10 Other negotiable and readily
transferable instruments (8) 90,697 90,986
11 Other 146,986 143,221
12 Nonmonetary international and
regional organizations (9) 10,540 11,796
13 Banks' own liabilities 9,986 11,008
14 Demand deposits 34 52
15 Time deposits (2) 6,294 5,702
16 Other (3) 3,658 5,254
17 Banks' custodial liabilities (5) 554 788
18 U.S. Treasury bills and
certificates (6) 532 764
19 Short-term agency
securities (7) 0 0
20 Other negotiable and readily
transferable instruments (8) 22 18
21 Other 0 6
22 Official institutions (10) 327,086 328,215
23 Banks' own liabilities 89,340 96,513
24 Demand deposits 1,946 1,900
25 Time deposits (2) 14,733 13,588
26 Other (3) 72,661 81,025
27 Banks' custodial liabilities (5) 237,746 231,702
28 U.S. Treasury bills and
certificates (6) 188,805 185,187
29 Short-term agency
securities (7) 45,131 44,082
30 Other negotiable and readily
transferable instruments (8) 2,615 1,489
31 Other 1,195 944
32 Banks (11) 1,100,445 1,086,278
33 Banks' own liabilities 911,686 901,654
34 Unaffiliated foreign banks 105,432 113,456
35 Demand deposits 11,804 11,391
36 Time deposits (2) 36,120 33,605
37 Other (3) 57,508 68,460
38 Own foreign offices (4) 806,254 788,198
39 Banks' custodial liabilities (5) 188,759 184,624
40 U.S. Treasury bills and
certificates (6) 20,463 20,079
41 Short-term agency
securities (7) 5,256 5,620
42 Other negotiable and readily
transferable instruments (8) 41,954 41,694
43 Other 121,086 117,231
44 Other foreigners 325,240 321,912
45 Banks' own liabilities 214,430 209,038
46 Demand deposits 17,644 18,684
47 Time deposits (2) 71,198 70,435
48 Other (3) 125,588 119,919
49 Banks' custodial liabilities (5) 110,810 112,874
50 U.S. Treasury bills and
certificates (6) 17,538 18,703
51 Short-term agency securities (7) 22,461 21,346
52 Other negotiable and readily
transferable instruments (8) 46,106 47,785
53 Other 24,705 25,040
MEMO
54 Negotiable time certificates of
deposits in custody for
foreigners 29,847 29,700
55 Repurchase agreements (7) 200,141 (r) 213,172 (r)
AREA OR COUNTRY
56 Total, all foreigners 1,763,311 1,748,201
57 Foreign countries 1,752,769 1,736,404
58 Europe 557,099 577,947
59 Austria 3,537 3,081
60 Belgium (12) 6,270 8,389
61 Denmark 4,061 3,112
62 Finland 1,498 1,259
63 France 35,447 37,915
64 Germany 27,081 31,334
65 Greece 2,677 2,612
66 Italy 3,426 3,439
67 Luxembourg (12) 25,436 25,750
68 Netherlands 8,208 7,650
69 Norway 10,049 17,747
70 Portugal 3,055 3,695
71 Russia 24,196 25,252
72 Spain 12,429 12,596
73 Sweden 5,709 4,137
74 Switzerland 102,088 105,386
75 Turkey 12,393 12,790
76 United Kingdom 184,152 183,756
77 Channel Islands and Isle of
Man (13) 38,215 38,982
78 Yugoslavia (14) 276 280
79 Other Europe and other former
U.S.S.R. (15) 46,896 48,785
80 Canada 24,887 24,946
81 Latin America 106,960 104,151
82 Argentina 11,686 11,223
83 Brazil 12,070 11,586
84 Chile 5,830 5,494
85 Colombia 3,719 4,509
86 Ecuador 2,266 2,374
87 Guatemala 1,384 1,535
88 Mexico 35,071 32,486
89 Panama 3,161 3,210
90 Peru 1,366 1,369
91 Uruguay 2,648 2,613
92 Venezuela 21,571 21,355
93 Other Latin America (16) 6,188 6,397
94 Caribbean 714,660 682,464
95 Bahamas 172,518 166,477
96 Bermuda 24,968 24,692
97 British West Indies (17) n.a. n.a.
98 Cayman Islands (17) 488,770 472,969
99 Cuba 99 92
100 Jamaica 948 932
101 Netherlands Antilles 10,538 4,381
102 Trinidad and Tobago 1,803 1,562
103 Other Caribbean (16) 15,016 11,359
104 Asia 326,731 325,748
China
105 Mainland 18,810 14,623
106 Taiwan 20,111 21,727
107 Hong Kong 31,034 31,701
108 India 7,253 7,502
109 Indonesia 13,805 13,098
110 Israel 7,960 11,619
111 Japan 175,993 171,821
112 Korea (South) 6,846 6,563
113 Philippines 1,573 2,064
114 Thailand 5,113 5,044
115 Middle Eastern oil-exporting
countries (18) 15,435 15,993
116 Other 22,798 23,993
117 Africa 12,103 11,115
118 Egypt 3,179 2,538
119 Morocco 312 329
120 South Africa 747 747
121 Congo (formerly Zaire) n.a. 86
122 Oil-exporting countries (19) 3,940 3,670
123 Other 3,925 3,745
124 Other countries 10,329 10,033
125 Australia 8,593 7,917
126 New Zealand (20) 1,321 1,592
127 All other 415 524
128 Nonmonetary international and
regional organizations 10,542 11,797
129 International (21) 9,422 9,567
130 Latin American regional (22) 402 394
131 Other regional (23) 643 1,766
2002
Item Oct. Nov.
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,834,787 1,776,379
2 Banks' own liabilities 1,305,746 1,242,296
3 Demand deposits 31,607 35,051
4 Time deposits (2) 131,119 (r) 128,414 (r)
5 Other (3) 265,120 (r) 258,584 (r)
6 Own foreign offices (4) 877,900 820,247
7 Banks' custodial liabilities (5) 529,041 534,083
8 U.S. Treasury bills and
certificates (6) 223,569 226,302
9 Short-term agency securities (7) 69,223 66,579
10 Other negotiable and readily
transferable instruments (8) 91,288 90,332
11 Other 144,961 150,870
12 Nonmonetary international and
regional organizations (9) 13,153 12,253
13 Banks' own liabilities 12,538 11,475
14 Demand deposits 61 42
15 Time deposits (2) 6,201 (r) 5,235 (r)
16 Other (3) 6,276 (r) 6,198 (r)
17 Banks' custodial liabilities (5) 615 778
18 U.S. Treasury bills and
certificates (6) 597 760
19 Short-term agency
securities (7) 0 0
20 Other negotiable and readily
transferable instruments (8) 18 18
21 Other 0 0
22 Official institutions (10) 325,111 328,525
23 Banks' own liabilities 91,466 93,476
24 Demand deposits 2,915 3,658
25 Time deposits (2) 14,400 (r) 13,521 (r)
26 Other (3) 74,151 (r) 76,297 (r)
27 Banks' custodial liabilities (5) 233,645 235,049
28 U.S. Treasury bills and
certificates (6) 188,474 190,111
29 Short-term agency
securities (7) 42,767 42,479
30 Other negotiable and readily
transferable instruments (8) 1,624 1,658
31 Other 780 801
32 Banks (11) 1,186,464 1,129,198
33 Banks' own liabilities 998,919 936,035
34 Unaffiliated foreign banks 121,019 115,788
35 Demand deposits 10,989 12,214
36 Time deposits (2) 38,333 39,190
37 Other (3) 71,697 64,384
38 Own foreign offices (4) 877,900 820,247
39 Banks' custodial liabilities (5) 187,545 193,163
40 U.S. Treasury bills and
certificates (6) 19,253 18,887
41 Short-term agency
securities (7) 7,206 6,775
42 Other negotiable and readily
transferable instruments (8) 41,433 41,414
43 Other 119,653 126,087
44 Other foreigners 310,059 306,403
45 Banks' own liabilities 202,823 201,310
46 Demand deposits 17,642 19,137
47 Time deposits (2) 72,185 70,468
48 Other (3) 112,996 111,705
49 Banks' custodial liabilities (5) 107,236 105,093
50 U.S. Treasury bills and
certificates (6) 15,245 16,544
51 Short-term agency securities (7) 19,250 17,325
52 Other negotiable and readily
transferable instruments (8) 48,213 47,242
53 Other 24,528 23,982
MEMO
54 Negotiable time certificates of
deposits in custody for
foreigners 29,198 26,435
55 Repurchase agreements (7) 200,313 (r) 190,283 (r)
AREA OR COUNTRY
56 Total, all foreigners 1,834,787 1,776,379
57 Foreign countries 1,821,634 1,764,126
58 Europe 658,663 615,393
59 Austria 3,053 2,442
60 Belgium (12) 7,420 8,032
61 Denmark 3,004 3,339
62 Finland 5,170 2,646
63 France 38,515 40,752
64 Germany 31,558 32,025
65 Greece 3,358 3,348
66 Italy 5,029 5,564
67 Luxembourg (12) 25,680 27,747
68 Netherlands 7,974 7,922
69 Norway 18,895 14,677
70 Portugal 3,220 3,092
71 Russia 24,407 25,444
72 Spain 12,825 15,576
73 Sweden 4,857 3,859
74 Switzerland 182,152 141,208
75 Turkey 11,226 11,749
76 United Kingdom 184,483 182,109
77 Channel Islands and Isle of
Man (13) 40,070 38,935
78 Yugoslavia (14) 316 332
79 Other Europe and other former
U.S.S.R. (15) 45,451 44,595
80 Canada 26,570 24,278
81 Latin America 106,894 104,000
82 Argentina 12,091 11,644
83 Brazil 11,587 10,275
84 Chile 5,827 5,361
85 Colombia 3,847 4,644
86 Ecuador 2,155 2,258
87 Guatemala 1,500 1,386
88 Mexico 34,665 32,615
89 Panama 3,564 3,668
90 Peru 1,300 1,360
91 Uruguay 2,583 2,604
92 Venezuela 21,661 22,313
93 Other Latin America (16) 6,114 5,872
94 Caribbean 693,544 680,223
95 Bahamas 159,867 145,993
96 Bermuda 23,158 25,765
97 British West Indies (17) n.a. n.a.
98 Cayman Islands (17) 491,972 488,997
99 Cuba 92 94
100 Jamaica 856 828
101 Netherlands Antilles 5,293 5,476
102 Trinidad and Tobago 1,471 1,580
103 Other Caribbean (16) 10,835 11,490
104 Asia 314,770 316,539
China
105 Mainland 15,854 14,489
106 Taiwan 23,270 23,602
107 Hong Kong 30,118 31,348
108 India 7,196 7,507
109 Indonesia 12,316 12,916
110 Israel 9,105 8,882
111 Japan 162,043 163,981
112 Korea (South) 6,288 6,548
113 Philippines 1,589 1,462
114 Thailand 7,022 8,698
115 Middle Eastern oil-exporting
countries (18) 14,352 11,633
116 Other 25,617 25,473
117 Africa 11,905 11,989
118 Egypt 2,545 2,493
119 Morocco 335 254
120 South Africa 662 701
121 Congo (formerly Zaire) n.a. 2
122 Oil-exporting countries (19) 4,635 4,983
123 Other 3,728 3,556
124 Other countries 9,288 11,704
125 Australia 7,547 9,338
126 New Zealand (20) 1,257 2,120
127 All other 484 246
128 Nonmonetary international and
regional organizations 13,153 12,253
129 International (21) 11,725 10,582
130 Latin American regional (22) 561 478
131 Other regional (23) 789 1,120
2002 2003
Item Dec. Jan. (p)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,818,537 (r) 1,764,072
2 Banks' own liabilities 1,274,247 (r) 1,221,152
3 Demand deposits 35,273 (r) 32,499
4 Time deposits (2) 134,716 (r) 130,468
5 Other (3) 251,787 (r) 272,384
6 Own foreign offices (4) 852,471 (r) 785,801
7 Banks' custodial liabilities (5) 544,290 542,920
8 U.S. Treasury bills and
certificates (6) 229,511 231,363
9 Short-term agency securities (7) 73,475 68,323
10 Other negotiable and readily
transferable instruments (8) 90,673 92,892
11 Other 150,631 150,342
12 Nonmonetary international and
regional organizations (9) 13,503 14,578
13 Banks' own liabilities 12,396 13,874
14 Demand deposits 44 37
15 Time deposits (2) 5,759 (r) 5,214
16 Other (3) 6,593 (r) 8,623
17 Banks' custodial liabilities (5) 1,107 704
18 U.S. Treasury bills and
certificates (6) 1,089 687
19 Short-term agency
securities (7) 0 0
20 Other negotiable and readily
transferable instruments (8) 18 17
21 Other 0 0
22 Official institutions (10) 331,310 (r) 331,724
23 Banks' own liabilities 90,738 (r) 90,681
24 Demand deposits 2,535 1,978
25 Time deposits (2) 17,583 (r) 14,653
26 Other (3) 70,620 (r) 74,050
27 Banks' custodial liabilities (5) 240,572 241,043
28 U.S. Treasury bills and
certificates (6) 190,375 194,762
29 Short-term agency
securities (7) 48,469 43,712
30 Other negotiable and readily
transferable instruments (8) 1,664 1,573
31 Other 64 996
32 Banks (11) 1,168,124 (r) 1,106,675
33 Banks' own liabilities 973,235 (r) 911,924
34 Unaffiliated foreign banks 120,764 (r) 126,323
35 Demand deposits 14,168 11,746
36 Time deposits (2) 40,424 (r) 39,425
37 Other (3) 66,172 74,952
38 Own foreign offices (4) 852,471 (r) 785,801
39 Banks' custodial liabilities (5) 194,889 194,751
40 U.S. Treasury bills and
certificates (6) 21,308 20,240
41 Short-term agency
securities (7) 6,448 6,884
42 Other negotiable and readily
transferable instruments (8) 40,722 42,124
43 Other 126,411 125,503
44 Other foreigners 305,600 (r) 311,095
45 Banks' own liabilities 197,878 (r) 204,673
46 Demand deposits 18,526 (r) 18,738
47 Time deposits (2) 70,950 (r) 71,176
48 Other (3) 108,402 114,759
49 Banks' custodial liabilities (5) 107,722 106,422
50 U.S. Treasury bills and
certificates (6) 16,739 15,674
51 Short-term agency securities (7) 18,558 17,727
52 Other negotiable and readily
transferable instruments (8) 48,269 49,178
53 Other 24,156 23,843
MEMO
54 Negotiable time certificates of
deposits in custody for
foreigners 26,084 25,596
55 Repurchase agreements (7) 190,134 (r) 207,282
AREA OR COUNTRY
56 Total, all foreigners 1,818,537 (r) 1,764,072
57 Foreign countries 1,805,034 (r) 1,749,494
58 Europe 627,556 (r) 564,559
59 Austria 2,473 2,186
60 Belgium (12) 8,611 8,812
61 Denmark 4,880 6,497
62 Finland 1,693 2,583
63 France 39,640 36,731
64 Germany 34,398 31,940
65 Greece 2,975 3,205
66 Italy 4,744 4,240
67 Luxembourg (12) 28,626 30,538
68 Netherlands 10,722 10,560
69 Norway 18,867 17,723
70 Portugal 3,575 3,448
71 Russia 23,147 24,378
72 Spain 14,031 14,851
73 Sweden 4,656 3,767
74 Switzerland 131,506 105,352
75 Turkey 12,131 12,754
76 United Kingdom 181,890 168,423
77 Channel Islands and Isle of
Man (13) 45,728 26,327
78 Yugoslavia (14) 301 353
79 Other Europe and other former
U.S.S.R. (15) 52,962 (r) 49,891
80 Canada 24,959 (r) 27,831
81 Latin America 107,139 (r) 106,100
82 Argentina 11,218 11,252
83 Brazil 10,037 10,586
84 Chile 6,065 5,592
85 Colombia 4,158 4,147
86 Ecuador 2,305 2,403
87 Guatemala 1,381 1,436
88 Mexico 36,152 36,878
89 Panama 3,924 (r) 3,969
90 Peru 1,363 (r) 1,364
91 Uruguay 2,807 (r) 2,681
92 Venezuela 21,887 (r) 19,952
93 Other Latin America (16) 5,842 (r) 5,840
94 Caribbean 703,670 (r) 711,320
95 Bahamas 162,196 168,679
96 Bermuda 23,827 27,015
97 British West Indies (17) n.a. n.a.
98 Cayman Islands (17) 498,960 495,704
99 Cuba 91 93
100 Jamaica 829 883
101 Netherlands Antilles 5,019 6,329
102 Trinidad and Tobago 1,405 1,359
103 Other Caribbean (16) 11,343 (r) 11,058
104 Asia 318,081 318,878
China
105 Mainland 15,504 13,544
106 Taiwan 18,678 (r) 22,200
107 Hong Kong 33,048 36,781
108 India 7,953 8,074
109 Indonesia 14,110 12,858
110 Israel 7,185 9,593
111 Japan 161,331 162,110
112 Korea (South) 8,932 7,410
113 Philippines 1,793 1,364
114 Thailand 7,605 6,666
115 Middle Eastern oil-exporting
countries (18) 16,364 15,176
116 Other 25,578 (r) 23,102
117 Africa 12,240 (r) 11,177
118 Egypt 2,652 2,494
119 Morocco 306 259
120 South Africa 1,114 725
121 Congo (formerly Zaire) 2 3
122 Oil-exporting countries (19) 4,370 4,126
123 Other 3,796 (r) 3,570
124 Other countries 11,389 (r) 9,829
125 Australia 9,333 8,235
126 New Zealand (20) 1,796 1,320
127 All other 260 (r) 274
128 Nonmonetary international and
regional organizations 13,503 14,578
129 International (21) 11,720 13,175
130 Latin American regional (22) 508 373
131 Other regional (23) 1,208 936
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers. Excludes bonds and notes of
maturities longer than one year.
(2.) Excludes negotiable time certificates deposit, which are included
in "Other negotiable and readily transferable instruments."
(3.) Includes borrowing under repurchase agreements.
(4.) For U.S. banks, includes amounts owed to own foreign branches and
foreign subsidiaries consolidated in quarterly Consolidated Reports of
Condition filed with bank regulatory agencies. For agencies, branches,
and majority-owned subsidiaries of foreign banks, consists principally
of amounts owed to the head office or parent foreign bank, and to
foreign branches, agencies, or wholly owned subsidiaries of the head
office or parent foreign bank.
(5.) Financial claims on residents of the United States, other than
long-term securities, held by or through reporting banks for foreign
customers.
(6.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(7.) Data available beginning January 2001.
(8.) Principally bankers acceptances, commercial paper, and negotiable
time certificates of deposit.
(9.) Principally the International Bank for Reconstruction and
Development, the Inter-American Development Bank, and the Asian
Development Bank. Excludes "holdings of dollars" of the International
Monetary Fund.
(10.) Foreign central banks, foreign central governments, and the Bank
for International Settlements.
(11.) Excludes central banks, which are included in "Official
institutions."
(12.) Before January 2001, data for Belgium-Luxembourg were combined.
(13.) Before January 2001, these data were included in data reported
for the United Kingdom.
(14.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(15.) Includes the Bank for International Settlements and the European
Central Bank. Since December 1992, has included all parts of the former
U.S.S.R. (except Russia), and Bosnia, Croatia, and Slovenia.
(16.) Before January 2001, data for "Other Latin America" and "Other
Caribbean" were combined in "Other Latin America and Caribbean."
(17.) Beginning January 2001, data for the Cayman Islands replaced data
for the British West Indies.
(18.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(19.) Comprises Algeria, Gabon, Libya, and Nigeria.
(20.) Before January 2001, these data were included in "All other."
(21.) Principally the International Bank for Reconstruction and
Development. Excludes "holdings of dollars" of the International
Monetary Fund.
(22.) Principally the Inter-American Development Bank.
(23.) Asian, African, Middle Eastern, and European regional
organizations, except the Bank for International Settlements, which is
included in "Other Europe."
3.18 BANKS' OWN CLAIMS ON FOREIGNERS Reported by Banks in the
United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Area or country 2000 2001 2002
1 Total, all foreigners 904,642 1,055,069 1,081,939 (r)
2 Foreign countries 899,956 1,050,123 1,078,262 (r)
3 Europe 378,115 461,176 484,398 (r)
4 Austria 2,926 4,981 3,603 (r)
5 Belgium (2) 5,399 6,391 6,044 (r)
6 Denmark 3,272 1,105 1,109
7 Finland 7,382 10,350 8,518
8 France 40,035 60,620 47,705 (r)
9 Germany 36,834 29,902 22,481 (r)
10 Greece 646 330 477 (r)
11 Italy 7,629 4,205 3,753 (r)
12 Luxembourg (2) n.a. 1,267 3,407
13 Netherlands 17,043 15,908 23,133 (r)
14 Norway 5,012 6,236 13,885
15 Portugal 1,382 1,603 2,226
16 Russia 517 594 877 (r)
17 Spain 2,603 3,260 5,395
18 Sweden 9,226 12,544 15,326
19 Switzerland 82,085 87,333 127,133 (r)
20 Turkey 3,059 2,124 2,112
21 United Kingdom 144,938 201,183 174,711
22 Channel Islands and
Isle of Man (3) n.a. 4,478 17,457 (r)
23 Yugoslavia (4) 50 n.a. n.a.
24 Other Europe and
other former
U.S.S.R. (5) 8,077 6,762 5,046
25 Canada 39,837 54,421 61,665 (r)
26 Latin America 76,561 69,762 56,642 (r)
27 Argentina 11,519 10,763 6,783
28 Brazil 20,567 19,434 15,419
29 Chile 5,815 5,317 5,250
30 Colombia 4,370 3,602 2,614
31 Ecuador 635 495 457
32 Guatemala 1,244 1,495 892
33 Mexico 17,415 16,522 15,658 (r)
34 Panama 2,933 3,061 1,915
35 Peru 2,807 2,185 1,411
36 Uruguay 673 447 255
37 Venezuela 3,518 3,077 3,254 (r)
38 Other Latin
America (6) 5,065 3,364 2,734
39 Caribbean 319,403 370,945 373,712 (r)
40 Bahamas 114,090 101,034 95,584 (r)
41 Bermuda 9,260 7,900 9,902
42 British West
Indies (7) 189,289 n.a. n.a.
43 Cayman Islands (7) n.a. 250,376 257,075 (r)
44 Cuba 0 n.a. n.a.
45 Jamaica 355 418 321
46 Netherlands Antilles 5,801 6,729 6,690
47 Trinidad and Tobago 608 931 889
48 Other Caribbean (6) n.a. 3,557 3,251 (r)
49 Asia 77,829 85,882 93,691 (r)
China
50 Mainland 1,606 2,073 1,057
51 Taiwan 2,247 4,407 3,772
52 Hong Kong 6,669 9,995 7,263 (r)
53 India 2,178 1,348 1,235
54 Indonesia 1,914 1,752 1,238
55 Israel 2,729 4,396 4,660
56 Japan 34,974 34,125 47,608 (r)
57 Korea (South) 7,776 10,622 11,326
58 Philippines 1,784 2,587 2,137
59 Thailand 1,381 2,499 1,167
60 Middle Eastern
oil-exporting
countries (8) 9,346 7,882 7,952 (r)
61 Other 5,225 4,196 4,276 (r)
62 Africa 2,094 2,095 1,977 (r)
63 Egypt 201 416 487
64 Morocco 204 106 53
65 South Africa 309 710 617
66 Congo (formerly
Zaire) 0 n.a. n.a.
67 Oil-exporting
countries (9) 471 167 222
68 Other 909 696 598 (r)
69 Other countries 6,117 5,842 6,177
70 Australia 5,868 5,455 5,566
71 New Zealand (10) n.a. 349 569
72 All other 249 38 42
73 Nonmonetary
international
and regional
organizations (11) 4,686 4,946 3,677
2002
Area or country July Aug.
1 Total, all foreigners 1,049,279 (r) 1,086,492 (r)
2 Foreign countries 1,044,643 (r) 1,082,245 (r)
3 Europe 465,040 (r) 483,246 (r)
4 Austria 4,216 (r) 4,467 (r)
5 Belgium (2) 7,126 5,140
6 Denmark 856 1,546
7 Finland 13,718 16,230
8 France 59,052 51,798
9 Germany 26,156 26,072
10 Greece 393 438
11 Italy 5,568 4,442
12 Luxembourg (2) 3,526 3,067
13 Netherlands 13,660 18,232
14 Norway 9,420 10,578
15 Portugal 1,995 1,823
16 Russia 867 842
17 Spain 3,336 3,589
18 Sweden 15,172 (r) 14,618
19 Switzerland 87,969 106,281
20 Turkey 2,410 2,515
21 United Kingdom 198,313 (r) 202,178
22 Channel Islands and
Isle of Man (3) 4,962 5,076
23 Yugoslavia (4) n.a. n.a.
24 Other Europe and
other former
U.S.S.R. (5) 6,325 4,314
25 Canada 63,235 60,310
26 Latin America 63,194 62,214
27 Argentina 8,202 8,090
28 Brazil 18,512 17,945
29 Chile 4,949 4,960
30 Colombia 3,216 3,158
31 Ecuador 462 479
32 Guatemala 871 861
33 Mexico 16,349 16,015
34 Panama 2,466 2,433
35 Peru 1,748 1,649
36 Uruguay 314 527
37 Venezuela 3,306 3,291
38 Other Latin
America (6) 2,799 2,806
39 Caribbean 345,965 (r) 367,940 (r)
40 Bahamas 96,911 (r) 95,729 (r)
41 Bermuda 11,723 11,847
42 British West
Indies (7) n.a. n.a.
43 Cayman Islands (7) 226,041 (r) 248,107
44 Cuba n.a. n.a.
45 Jamaica 350 353
46 Netherlands Antilles 6,387 7,334
47 Trinidad and Tobago 881 877
48 Other Caribbean (6) 3,672 3,693
49 Asia 99,551 100,484
China
50 Mainland 7,832 5,904
51 Taiwan 6,954 7,443
52 Hong Kong 6,614 6,531
53 India 1,083 1,293
54 Indonesia 1,553 1,457
55 Israel 4,647 4,952
56 Japan 35,947 37,559
57 Korea (South) 18,065 18,961
58 Philippines 1,857 1,593
59 Thailand 1,160 1,175
60 Middle Eastern
oil-exporting
countries (8) 8,960 8,975
61 Other 4,879 4,641
62 Africa 1,914 1,887
63 Egypt 405 324
64 Morocco 77 72
65 South Africa 545 601
66 Congo (formerly
Zaire) n.a. n.a.
67 Oil-exporting
countries (9) 227 247
68 Other 660 643
69 Other countries 5,744 6,164
70 Australia 5,345 5,616
71 New Zealand (10) 392 541
72 All other 7 7
73 Nonmonetary
international
and regional
organizations (11) 4,636 4,247
2002
Area or country Sept. Oct.
1 Total, all foreigners 1,065,276 (r) 1,152,959 (r)
2 Foreign countries 1,062,638 (r) 1,150,287 (r)
3 Europe 470,920 (r) 543,269 (r)
4 Austria 4,336 3,876
5 Belgium (2) 4,814 (r) 5,590
6 Denmark 1,633 (r) 1,534
7 Finland 15,812 14,821
8 France 51,083 47,065
9 Germany 23,344 21,101
10 Greece 408 388
11 Italy 5,092 (r) 3,984
12 Luxembourg (2) 2,847 2,818
13 Netherlands 17,691 13,284
14 Norway 11,036 11,848
15 Portugal 2,006 2,000
16 Russia 801 858
17 Spain 4,675 3,183
18 Sweden 13,970 15,366
19 Switzerland 103,920 184,039
20 Turkey 2,474 2,622
21 United Kingdom 194,937 (r) 195,936 (r)
22 Channel Islands and
Isle of Man (3) 5,926 7,281
23 Yugoslavia (4) n.a. n.a.
24 Other Europe and
other former
U.S.S.R. (5) 4,115 5,675
25 Canada 62,838 (r) 57,522
26 Latin America 60,377 59,261
27 Argentina 7,663 7,608
28 Brazil 17,266 16,863
29 Chile 5,118 5,142
30 Colombia 3,078 2,834
31 Ecuador 467 451
32 Guatemala 925 907
33 Mexico 15,805 15,367
34 Panama 1,959 2,021
35 Peru 1,599 1,504
36 Uruguay 345 319
37 Venezuela 3,301 3,389
38 Other Latin
America (6) 2,851 2,856
39 Caribbean 347,780 (r) 373,472 (r)
40 Bahamas 91,171 (r) 96,151 (r)
41 Bermuda 11,304 12,196
42 British West
Indies (7) n.a. n.a.
43 Cayman Islands (7) 234,435 252,908 (r)
44 Cuba n.a. n.a.
45 Jamaica 463 429
46 Netherlands Antilles 6,194 7,427
47 Trinidad and Tobago 916 920
48 Other Caribbean (6) 3,297 3,441
49 Asia 112,441 (r) 109,359
China
50 Mainland 7,256 8,515
51 Taiwan 8,656 8,599
52 Hong Kong 8,481 5,778
53 India 1,258 999
54 Indonesia 1,426 1,390
55 Israel 5,067 4,710
56 Japan 45,058 42,252
57 Korea (South) 17,404 19,439
58 Philippines 2,134 1,843
59 Thailand 1,841 1,205
60 Middle Eastern
oil-exporting
countries (8) 8,619 9,253
61 Other 5,241 (r) 5,376
62 Africa 1,891 1,818
63 Egypt 332 326
64 Morocco 58 50
65 South Africa 576 554
66 Congo (formerly
Zaire) n.a. n.a.
67 Oil-exporting
countries (9) 303 261
68 Other 622 627
69 Other countries 6,391 5,586
70 Australia 5,589 5,088
71 New Zealand (10) 789 485
72 All other 13 13
73 Nonmonetary
international
and regional
organizations (11) 2,638 2,700
2002 2003
Area or country Nov. (r) Dec. (r) Jan. (p)
1 Total, all foreigners 1,096,437 1,081,939 1,074,533
2 Foreign countries 1,093,119 1,078,262 1,071,374
3 Europe 490,644 484,398 446,749
4 Austria 4,224 3,603 4,334
5 Belgium (2) 5,784 6,044 6,251
6 Denmark 940 1,109 1,563
7 Finland 9,028 8,518 9,832
8 France 54,089 47,705 45,914
9 Germany 22,103 22,481 23,395
10 Greece 331 477 296
11 Italy 3,945 3,753 3,171
12 Luxembourg (2) 3,224 3,407 3,901
13 Netherlands 15,572 23,133 19,188
14 Norway 11,464 13,885 18,606
15 Portugal 2,134 2,226 2,356
16 Russia 787 877 1,025
17 Spain 4,776 5,395 4,154
18 Sweden 15,239 15,326 15,329
19 Switzerland 134,425 127,133 87,562
20 Turkey 2,532 2,112 2,021
21 United Kingdom 183,482 174,711 168,492
22 Channel Islands and
Isle of Man (3) 11,304 17,457 24,393
23 Yugoslavia (4) n.a. n.a. n.a.
24 Other Europe and
other former
U.S.S.R. (5) 5,261 5,046 4,966
25 Canada 59,896 61,665 65,867
26 Latin America 58,257 56,642 54,482
27 Argentina 7,253 6,783 6,663
28 Brazil 15,871 15,419 14,520
29 Chile 5,358 5,250 5,077
30 Colombia 2,758 2,614 2,406
31 Ecuador 451 457 439
32 Guatemala 889 892 896
33 Mexico 15,828 15,658 15,268
34 Panama 1,961 1,915 1,730
35 Peru 1,484 1,411 1,403
36 Uruguay 292 255 255
37 Venezuela 3,231 3,254 3,202
38 Other Latin
America (6) 2,881 2,734 2,623
39 Caribbean 372,683 373,712 392,193
40 Bahamas 93,839 95,584 97,278
41 Bermuda 9,902 9,902 10,987
42 British West
Indies (7) n.a. n.a. n.a.
43 Cayman Islands (7) 257,645 257,075 273,082
44 Cuba n.a. n.a. n.a.
45 Jamaica 393 321 304
46 Netherlands Antilles 6,744 6,690 6,445
47 Trinidad and Tobago 912 889 865
48 Other Caribbean (6) 3,248 3,251 3,232
49 Asia 104,181 93,691 103,074
China
50 Mainland 6,575 1,057 4,799
51 Taiwan 7,034 3,772 6,573
52 Hong Kong 6,849 7,263 6,490
53 India 921 1,235 1,128
54 Indonesia 1,360 1,238 1,191
55 Israel 3,836 4,660 5,186
56 Japan 47,071 47,608 48,814
57 Korea (South) 14,293 11,326 14,473
58 Philippines 1,555 2,137 2,424
59 Thailand 756 1,167 830
60 Middle Eastern
oil-exporting
countries (8) 8,251 7,952 8,004
61 Other 5,680 4,276 3,162
62 Africa 1,693 1,977 1,945
63 Egypt 428 487 511
64 Morocco 52 53 53
65 South Africa 435 617 545
66 Congo (formerly
Zaire) n.a. n.a. n.a.
67 Oil-exporting
countries (9) 225 222 240
68 Other 553 598 596
69 Other countries 5,765 6,177 7,064
70 Australia 5,303 5,566 6,212
71 New Zealand (10) 439 569 833
72 All other 23 42 19
73 Nonmonetary
international
and regional
organizations (11) 3,318 3,677 3,159
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Before January 2001, combined data reported for
Belgium-Luxembourg.
(3.) Before January 2001, data included in United Kingdom.
(4.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(5.) Includes the Bank for International Settlements and European
Central Bank. Since December 1992, has included all parts of the
former U.S.S.R. (except Russia) and Bosnia, Croatia, and Slovenia.
(6.) Before January 2001, "Other Latin America" and "Other Caribbean"
were reported as combined "Other Latin America and Caribbean."
(7.) Beginning 2001, Cayman Islands replaced British West Indies in
the data series.
(8.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(9.) Comprises Algeria, Gabon, Libya, and Nigeria.
(10.) Before January 2001, included in "All other."
(11.) Excludes the Bank for International Settlements, which is
included in "Other Europe."
3.19 BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Reported by Banks in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Type of claim 2000 2001 2002 (r)
1 Total 1,095,869 1,254,863 1,291,900
2 Banks' claims 904,642 1,055,069 1,081,939
3 Foreign public borrowers 37,907 49,404 48,750
4 Own foreign offices (2) 630,137 749,124 788,477
5 Unaffilliated foreign
banks 95,243 100,367 81,159
6 Deposits 23,886 26,387 (r) 20,680
7 Other 71,357 73,980 (r) 60,479
8 All other foreigners 141,355 156,174 163,553
9 Claims of banks' domestic
customers (3) 191,227 199,794 209,961
10 Deposits 100,352 93,565 79,512
11 Negotiable and readily
transferable
instruments (4) 78,147 90,412 124,159
12 Outstanding collections
and other claims 12,728 15,817 6,290
MEMO
13 Customer liability on
acceptances 4,257 2,588 2,450
14 Banks' loans under resale
agreements (5) n.a. 137,979 (r) 161,585
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States (6) 53,153 60,745 44,316
2002
Type of claim July Aug. (r) Sept. (r)
1 Total ... ... 1,255,390
2 Banks' claims 1,049,279 (r) 1,086,492 1,065,276
3 Foreign public borrowers 61,067 61,541 61,299
4 Own foreign offices (2) 720,222 (r) 758,142 734,022
5 Unaffilliated foreign
banks 92,921 (r) 86,420 94,905
6 Deposits 24,449 19,051 24,213
7 Other 68,472 (r) 67,369 70,692
8 All other foreigners 175,069 (r) 180,389 175,050
9 Claims of banks' domestic
customers (3) ... ... 190,114
10 Deposits ... ... 86,862
11 Negotiable and readily
transferable
instruments (4) ... ... 90,919
12 Outstanding collections
and other claims ... ... 12,333
MEMO
13 Customer liability on
acceptances ... ... 2,353
14 Banks' loans under resale
agreements (5) 170,823 (r) 172,949 166,568
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States (6) 57,572 53,100 52,530
2002
Type of claim Oct. (r) Nov. (r)
1 Total ... ...
2 Banks' claims 1,152,959 1,096,437
3 Foreign public borrowers 63,404 56,300
4 Own foreign offices (2) 823,669 777,040
5 Unaffilliated foreign
banks 94,875 98,942
6 Deposits 26,742 28,210
7 Other 68,133 70,732
8 All other foreigners 171,011 164,155
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) 166,176 156,299
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States (6) 55,284 46,840
2002 2003
Type of claim Dec. (r) Jan. (p)
1 Total 1,291,900 ...
2 Banks' claims 1,081,939 1,074,533
3 Foreign public borrowers 48,750 58,167
4 Own foreign offices (2) 788,477 762,482
5 Unaffilliated foreign
banks 81,159 88,568
6 Deposits 20,680 22,372
7 Other 60,479 66,196
8 All other foreigners 163,553 165,316
9 Claims of banks' domestic
customers (3) 209,961 ...
10 Deposits 79,512 ...
11 Negotiable and readily
transferable
instruments (4) 124,159 ...
12 Outstanding collections
and other claims 6,290 ...
MEMO
13 Customer liability on
acceptances 2,450 ...
14 Banks' loans under resale
agreements (5) 161,585 183,013
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the
United States (6) 44,316 45,559
(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
Maturiry, by borrower
and area (2) 1999 2000 2001
1 Total 267,082 274,009 305,326
By borrower
2 Maturity of one year or less 187,894 186,103 200,240
3 Foreign public borrowers 22,811 21,399 27,501
4 All other foreigners 165,083 164,704 172,739
5 Maturity of more than one
year 79,188 87,906 105,086
6 Foreign public borrowers 12,013 15,838 21,324
7 All other foreigners 67,175 72,068 83,762
By area
Maturity of one year or less
8 Europe 80,842 142,464 83,233
9 Canada 7,859 8,323 10,072
10 Latin America and
Caribbean 69,498 151,840 70,648
11 Asia 21,802 43,371 29,693
12 Africa 1,122 2,263 1,104
13 All other (3) 6,771 11,717 5,490
Maturity of more than one
year
14 Europe 22,951 57,770 34,230
15 Canada 3,192 3,174 3,633
16 Latin America and
Caribbean 39,051 82,684 47,382
17 Asia 11,257 19,536 15,190
18 Africa 1,065 1,567 769
19 All other (3) 1,672 5,954 3,882
2002
Maturiry, by borrower
and area (2) Mar. (r) June (r)
1 Total 308,286 317,207
By borrower
2 Maturity of one year or less 214,373 236,219
3 Foreign public borrowers 31,875 33,061
4 All other foreigners 182,498 203,158
5 Maturity of more than one
year 93,913 80,988
6 Foreign public borrowers 22,945 17,576
7 All other foreigners 70,968 63,412
By area
Maturity of one year or less
8 Europe 85,848 88,641
9 Canada 8,227 8,928
10 Latin America and
Caribbean 82,258 98,152
11 Asia 30,543 34,710
12 Africa 1,124 918
13 All other (3) 6,373 4,870
Maturity of more than one
year
14 Europe 37,372 33,159
15 Canada 3,129 2,619
16 Latin America and
Caribbean 35,537 32,142
17 Asia 13,563 8,688
18 Africa 720 907
19 All other (3) 3,592 3,473
2002
Maturiry, by borrower
and area (2) Sept. (r) Dec. (p)
1 Total 330,807 293,096
By borrower
2 Maturity of one year or less 250,076 212,972
3 Foreign public borrowers 42,665 31,569
4 All other foreigners 207,411 181,403
5 Maturity of more than one
year 80,731 80,124
6 Foreign public borrowers 18,192 16,948
7 All other foreigners 62,539 63,176
By area
Maturity of one year or less
8 Europe 92,111 83,172
9 Canada 7,731 6,933
10 Latin America and
Caribbean 96,796 87,143
11 Asia 48,210 30,323
12 Africa 896 726
13 All other (3) 4,332 4,675
Maturity of more than one
year
14 Europe 33,587 33,543
15 Canada 2,772 2,990
16 Latin America and
Caribbean 31,376 32,172
17 Asia 9,128 6,920
18 Africa 812 845
19 All other (3) 3,056 3,654
Note: Owing to changes in reporting requirements, this table will
be discontinued in the third quarter of 2003 after publication of
the end-December 2003 data.
(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.
Nonbank-Reported Data
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS Reported by
Nonbanking Business Enterprises in the United States
Millions of dollars, end of period
Type of liability,
and area or country 1998 1999 2000
1 Total 46,570 53,044 73,904
2 Payable in dollars 36,668 37,605 48,931
3 Payable in foreign currencies 9,902 15,415 24,973
By type
4 Financial liabilities 19,255 27,980 47,419
5 Payable in dollars 10,371 13,883 25,246
6 Payable in foreign currencies 8,884 14,097 22,173
7 Commercial liabilities 27,315 25,064 26,485
8 Trade payables 10,978 12,857 14,293
9 Advance receipts and other
liabilities 16,337 12,207 12,192
10 Payable in dollars 26,297 23,722 23,685
11 Payable in foreign currencies 1,018 1,318 2,800
By area or country
Financial liabilities
12 Europe 12,589 23,241 34,172
13 Belgium and Luxembourg 79 31 147
14 France 1,097 1,659 1,480
15 Germany 2,063 1,974 2,168
16 Netherlands 1,406 1,996 2,016
17 Switzerland 155 147 104
18 United Kingdom 5,980 16,521 26,362
19 Canada 693 284 411
20 Latin America and Caribbean 1,495 892 4,125
21 Bahamas 7 1 6
22 Bermuda 101 5 1,739
23 Brazil 152 126 148
24 British West Indies 957 492 406
25 Mexico 59 25 26
26 Venezuela 2 0 2
27 Asia 3,785 3,437 7,965
28 Japan 3,612 3,142 6,216
29 Middle Eastern oil-exporting
countries (1) 0 4 11
30 Africa 28 28 52
31 Oil-exporting countries (2) 0 0 0
32 All other (3) 665 98 694
Commercial liabilities
33 Europe 10,030 9,262 9,629
34 Belgium and Luxembourg 278 140 293
35 France 920 672 979
36 Germany 1,392 1,131 1,047
37 Netherlands 429 507 300
38 Switzerland 499 626 502
39 United Kingdom 3,697 3,071 2,847
40 Canada 1,390 1,775 1,933
41 Latin America and Caribbean 1,618 2,310 2,381
42 Bahamas 14 22 31
43 Bermuda 198 152 281
44 Brazil 152 145 114
45 British West Indies 10 48 76
46 Mexico 347 887 841
47 Venezuela 202 305 284
48 Asia 12,342 9,886 10,983
49 Japan 3,827 2,609 2,757
50 Middle Eastern oil-exporting
countries (1) 2,852 2,551 2,832
51 Africa 794 950 948
52 Oil-exporting countries (2) 393 499 483
53 Other (3) 1,141 881 614
2001
Type of liability,
and area or country June Sept. Dec.
1 Total 68,028 53,526 66,718
2 Payable in dollars 41,734 35,347 42,957
3 Payable in foreign currencies 26,294 18,179 23,761
By type
4 Financial liabilities 41,908 27,502 41,034
5 Payable in dollars 17,655 11,415 18,763
6 Payable in foreign currencies 24,253 16,087 22,271
7 Commercial liabilities 26,120 26,024 25,684
8 Trade payables 13,127 11,740 11,820
9 Advance receipts and other
liabilities 12,993 14,284 13,864
10 Payable in dollars 24,079 23,932 24,194
11 Payable in foreign currencies 2,041 2,092 1,490
By area or country
Financial liabilities
12 Europe 32,785 22,083 31,806
13 Belgium and Luxembourg 98 76 154
14 France 1,222 1,538 2,841
15 Germany 2,463 1,994 2,344
16 Netherlands 1,763 1,998 1,954
17 Switzerland 93 92 94
18 United Kingdom 25,363 14,819 22,852
19 Canada 628 436 955
20 Latin America and Caribbean 2,100 414 2,858
21 Bahamas 40 5 157
22 Bermuda 461 47 960
23 Brazil 21 22 35
24 British West Indies 1,508 243 1,627
25 Mexico 20 24 36
26 Venezuela 1 3 2
27 Asia 5,639 3,869 5,042
28 Japan 3,297 3,442 3,269
29 Middle Eastern oil-exporting
countries (1) 8 9 10
30 Africa 61 59 53
31 Oil-exporting countries (2) 0 5 5
32 All other (3) 695 672 320
Commercial liabilities
33 Europe 8,723 8,855 9,230
34 Belgium and Luxembourg 297 160 99
35 France 665 892 735
36 Germany 1,017 966 908
37 Netherlands 343 343 1,163
38 Switzerland 697 683 790
39 United Kingdom 2,706 2,296 2,280
40 Canada 1,957 1,569 1,633
41 Latin America and Caribbean 2,293 2,879 2,729
42 Bahamas 31 44 52
43 Bermuda 367 570 591
44 Brazil 279 312 290
45 British West Indies 21 28 45
46 Mexico 762 884 901
47 Venezuela 218 242 166
48 Asia 11,384 11,114 10,532
49 Japan 2,377 2,421 2,592
50 Middle Eastern oil-exporting
countries (1) 3,087 3,053 2,642
51 Africa 1,115 938 836
52 Oil-exporting countries (2) 539 471 436
53 Other (3) 648 669 724
2002
Type of liability,
and area or country Mar. June Sept.
1 Total 74,867 (r) 70,638 (r) 68,644
2 Payable in dollars 47,062 (r) 48,103 44,815
3 Payable in foreign currencies 27,805 (r) 22,535 (r) 23,829
By type
4 Financial liabilities 46,408 (r) 42,826 (r) 41,311
5 Payable in dollars 20,367 21,892 18,775
6 Payable in foreign currencies 26,041 (r) 20,934 (r) 22,536
7 Commercial liabilities 28,459 (r) 27,812 (r) 27,333
8 Trade payables 14,872 13,959 13,558
9 Advance receipts and other
liabilities 13,587 (r) 13,853 (r) 13,775
10 Payable in dollars 26,695 (r) 26,211 26,040
11 Payable in foreign currencies 1,764 1,601 (r) 1,293
By area or country
Financial liabilities
12 Europe 39,392 (r) 35,011 (r) 34,817
13 Belgium and Luxembourg 119 120 232
14 France 3,531 4,071 3,517
15 Germany 2,982 2,622 2,865
16 Netherlands 1,951 1,939 1,918
17 Switzerland 84 61 61
18 United Kingdom 28,630 (r) 24,188 (r) 24,175
19 Canada 1,067 (r) 1,078 (r) 583
20 Latin America and Caribbean 1,547 1,832 1,088
21 Bahamas 5 5 0
22 Bermuda 836 626 588
23 Brazil 35 38 65
24 British West Indies 612 1,000 377
25 Mexico 27 25 26
26 Venezuela 1 5 1
27 Asia 4,010 4,491 4,458
28 Japan 3,299 2,387 2,447
29 Middle Eastern oil-exporting
countries (1) 15 14 16
30 Africa 122 120 128
31 Oil-exporting countries (2) 91 91 91
32 All other (3) 270 294 253
Commercial liabilities
33 Europe 8,384 (r) 8,468 8,745
34 Belgium and Luxembourg 105 94 134
35 France 713 (r) 827 718
36 Germany 584 570 855
37 Netherlands 463 765 1,186
38 Switzerland 637 749 592
39 United Kingdom 2,747 2,551 2,317
40 Canada 1,798 2,027 1,570
41 Latin America and Caribbean 3,454 2,744 (r) 2,850
42 Bahamas 23 12 14
43 Bermuda 433 422 468
44 Brazil 277 320 290
45 British West Indies 67 46 47
46 Mexico 1,457 958 997
47 Venezuela 281 204 327
48 Asia 12,969 12,693 12,274
49 Japan 4,281 4,143 4,031
50 Middle Eastern oil-exporting
countries (1) 3,142 3,259 3,669
51 Africa 976 916 876
52 Oil-exporting countries (2) 454 349 445
53 Other (3) 878 964 1,018
(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 1998 1999 2000
1 Total 77,462 76,669 90,157
2 Payable in dollars 72,171 69,170 79,558
3 Payable in foreign
currencies 5,291 7,472 10,599
By type
4 Financial claims 46,260 40,231 53,031
5 Deposits 30,199 18,566 23,374
6 Payable in dollars 28,549 16,373 21,015
7 Payable in foreign
currencies 1,650 2,193 2,359
8 Other financial claims 16,061 21,665 29,657
9 Payable in dollars 14,049 18,593 25,142
10 Payable in foreign
currencies 2,012 3,072 4,515
11 Commercial claims 31,202 36,438 37,126
12 Trade receivables 27,202 32,629 33,104
13 Advance payments and
other claims 4,000 3,809 4,022
14 Payable in dollars 29,573 34,204 33,401
15 Payable in foreign
currencies 1,629 2,207 3,725
By area or country
Financial claims
16 Europe 12,294 13,023 23,136
17 Belgium and Luxembourg 661 529 296
18 France 864 967 1,206
19 Germany 304 504 848
20 Netherlands 875 1,229 1,396
21 Switzerland 414 643 699
22 United Kingdom 7,766 7,561 15,900
23 Canada 2,503 2,553 4,576
24 Latin America and
Caribbean 27,714 18,206 19,317
25 Bahamas 403 1,593 1,353
26 Bermuda 39 11 19
27 Brazil 835 1,476 1,827
28 British West Indies 24,388 12,099 12,596
29 Mexico 1,245 1,798 2,448
30 Venezuela 55 48 87
31 Asia 3,027 5,457 4,697
32 Japan 1,194 3,262 1,631
33 Middle Eastern
oil-exporting
countries (1) 9 23 80
34 Africa 159 286 411
35 Oil-exporting
countries (2) 16 15 57
36 All other (3) 563 706 894
Commercial claims
37 Europe 13,246 16,389 15,938
38 Belgium and Luxembourg 238 316 452
39 France 2,171 2,236 3,095
40 Germany 1,822 1,960 1,982
41 Netherlands 467 1,429 1,729
42 Switzerland 483 610 763
43 United Kingdom 4,769 5,827 4,502
44 Canada 2,617 2,757 3,502
45 Latin America and
Caribbean 6,296 5,959 5,851
46 Bahamas 24 20 37
47 Bermuda 536 390 376
48 Brazil 1,024 905 957
49 British West Indies 104 181 137
50 Mexico 1,545 1,678 1,507
51 Venezuela 401 439 328
52 Asia 7,192 9,165 9,630
53 Japan 1,681 2,074 2,796
54 Middle Eastern
oil-exporting
countries (1) 1,135 1,625 1,024
55 Africa 711 631 672
56 Oil-exporting
countries (2) 165 171 180
57 Other (3) 1,140 1,537 1,572
2001
Type of claim,
and area or country June Sept. Dec.
1 Total 97,470 94,076 113,155
2 Payable in dollars 87,690 83,292 103,937
3 Payable in foreign
currencies 9,780 10,784 9,218
By type
4 Financial claims 61,891 60,015 81,287
5 Deposits 25,381 22,391 29,801
6 Payable in dollars 23,174 19,888 27,850
7 Payable in foreign
currencies 2,207 2,503 1,951
8 Other financial claims 36,510 37,624 51,486
9 Payable in dollars 32,038 32,076 46,621
10 Payable in foreign
currencies 4,472 5,548 4,865
11 Commercial claims 35,579 34,061 31,868
12 Trade receivables 30,631 29,328 27,586
13 Advance payments and
other claims 4,948 4,733 4,282
14 Payable in dollars 32,478 31,328 29,466
15 Payable in foreign
currencies 3,101 2,733 2,402
By area or country
Financial claims
16 Europe 23,975 23,069 26,118
17 Belgium and Luxembourg 262 372 625
18 France 1,376 1,682 1,450
19 Germany 1,163 1,112 1,068
20 Netherlands 1,072 954 2,138
21 Switzerland 653 665 589
22 United Kingdom 15,913 15,670 16,510
23 Canada 4,787 4,254 6,193
24 Latin America and
Caribbean 24,403 26,099 41,201
25 Bahamas 818 649 976
26 Bermuda 426 80 918
27 Brazil 1,877 2,065 2,127
28 British West Indies 17,505 19,234 32,965
29 Mexico 2,633 2,910 3,075
30 Venezuela 66 80 83
31 Asia 6,829 5,274 6,430
32 Japan 1,698 1,761 1,604
33 Middle Eastern
oil-exporting
countries (1) 76 100 135
34 Africa 476 456 414
35 Oil-exporting
countries (2) 35 83 49
36 All other (3) 1,421 891 931
Commercial claims
37 Europe 14,469 14,381 14,036
38 Belgium and Luxembourg 403 354 268
39 France 3,190 3,062 2,922
40 Germany 1,993 1,977 1,662
41 Netherlands 863 844 529
42 Switzerland 473 514 611
43 United Kingdom 3,724 3,571 3,839
44 Canada 3,470 3,116 2,855
45 Latin America and
Caribbean 6,033 5,590 4,874
46 Bahamas 39 35 42
47 Bermuda 650 526 369
48 Brazil 1,363 1,183 958
49 British West Indies 135 124 95
50 Mexico 1,375 1,442 1,401
51 Venezuela 321 301 288
52 Asia 9,499 8,704 7,855
53 Japan 3,148 2,438 2,007
54 Middle Eastern
oil-exporting
countries (1) 1,040 919 851
55 Africa 601 838 645
56 Oil-exporting
countries (2) 102 170 88
57 Other (3) 1,507 1,432 1,603
2002
Type of claim,
and area or country Mar. June Sept.
1 Total 115,764 (r) 116,148 (r) 112,099 (r)
2 Payable in dollars 106,192 (r) 107,106 (r) 103,877 (r)
3 Payable in foreign
currencies 9,572 9,042 8,222
By type
4 Financial claims 85,381 87,324 84,033
5 Deposits 41,813 42,136 38,074
6 Payable in dollars 40,002 40,323 36,382
7 Payable in foreign
currencies 1,811 1,813 1,692
8 Other financial claims 43,568 45,188 45,959
9 Payable in dollars 39,553 41,875 42,734
10 Payable in foreign
currencies 4,015 3,313 3,225
11 Commercial claims 30,383 (r) 28,824 (r) 28,066 (r)
12 Trade receivables 25,618 (r) 24,263 (r) 23,491 (r)
13 Advance payments and
other claims 4,765 4,561 4,575
14 Payable in dollars 26,637 (r) 24,908 (r) 24,761 (r)
15 Payable in foreign
currencies 3,746 3,916 3,305
By area or country
Financial claims
16 Europe 35,933 36,863 32,007 (r)
17 Belgium and Luxembourg 751 797 656
18 France 3,489 3,921 3,854
19 Germany 4,114 3,972 4,292
20 Netherlands 3,253 3,995 4,024
21 Switzerland 308 1,010 1,135
22 United Kingdom 17,910 16,037 11,351 (r)
23 Canada 5,471 5,537 5,485
24 Latin America and
Caribbean 35,001 37,511 38,822
25 Bahamas 1,197 1,332 715
26 Bermuda 611 704 1,157
27 Brazil 1,892 2,036 2,226
28 British West Indies 27,350 29,591 30,859
29 Mexico 2,777 2,823 2,871
30 Venezuela 79 60 71
31 Asia 6,489 5,826 6,121
32 Japan 2,009 1,093 1,421 (r)
33 Middle Eastern
oil-exporting
countries (1) 79 78 88
34 Africa 390 431 379
35 Oil-exporting
countries (2) 51 64 29
36 All other (3) 2,097 1,156 1,259
Commercial claims
37 Europe 12,708 11,861 12,000 (r)
38 Belgium and Luxembourg 272 207 254 (r)
39 France 2,883 2,828 2,972
40 Germany 1,198 1,163 1,158
41 Netherlands 415 379 409
42 Switzerland 436 472 404 (r)
43 United Kingdom 3,579 3,387 3,236 (r)
44 Canada 2,760 2,752 2,623 (r)
45 Latin America and
Caribbean 4,912 (r) 4,530 (r) 4,324 (r)
46 Bahamas 42 28 35 (r)
47 Bermuda 422 214 270
48 Brazil 837 829 862 (r)
49 British West Indies 73 26 12
50 Mexico 1,225 1,283 1,184 (r)
51 Venezuela 312 316 340 (r)
52 Asia 7,513 7,309 6,778 (r)
53 Japan 1,975 2,064 2,083
54 Middle Eastern
oil-exporting
countries (1) 657 889 819
55 Africa 630 605 (r) 637
56 Oil-exporting
countries (2) 109 94 (r) 107
57 Other (3) 1,860 1,767 1,704 (r)
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional
organizations.
Securities Holdings and Transactions
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2003
Transaction, and area Jan.-
or county 2001 2002 Jan.
U.S. corporate securities
STOCKS
1 Foreign purchases 3,051,332 3,158,811 212,558
2 Foreign sales 2,934,942 3,109,280 216,056
3 Net purchases, or
sales (-) 116,390 49,531 -3,498
4 Foreign countries 116,187 49,585 -3,475
5 Europe 88,099 33,143 -1,887
6 France 5,914 2,128 206
7 Germany 8,415 -122 -64
8 Netherlands 10,919 4,544 671
9 Switzerland 3,456 2,678 -721
10 United Kingdom 38,493 15,322 -2,758
11 Channel Islands and
Isle of Man (1) -698 -255 -2
12 Canada 10,984 7,453 19
13 Latin America and
Caribbean -5,154 -15,477 -3,088
14 Middle East (2) 1,789 -1,295 -52
15 Other Asia 20,726 22,667 1,313
16 Japan 6,788 12,337 561
17 Africa -366 -80 38
18 Other countries 109 3,174 182
19 Nonmonetary interna-
tional and regional
organizations 203 -53 -23
BONDS (3)
20 Foreign purchases 1,942,690 2,545,007 224,521
21 Foreign sales 1,556,745 2,171,357 (r) 180,746
22 Net purchases, or
sales (-) 385,945 373,650 (r) 43,775
23 Foreign countries 385,380 373,371 (r) 43,919
24 Europe 195,412 163,516 (r) 24,301
25 France 5,028 3,744 1,044
26 Germany 12,362 5,155 545
27 Netherlands 1,538 -431 206
28 Switzerland 5,721 8,521 1,154
29 United Kingdom 152,772 105,810 (r) 12,279
30 Channel Islands and
Isle of Man (1) 2,000 11,173 54,420
31 Canada 4,595 -1,047 -1,172
32 Latin America and
Caribbean 77,019 82,833 6,564
33 Middle East (2) 2,338 2,274 591
34 Other Asia 106,400 121,439 13,593
35 Japan 33,687 48,451 4,025
36 Africa 760 860 53
37 Other countries -1,144 3,496 -11
38 Nonmonetary interna-
tional and regional
organizations 566 279 -144
Foreign securities
39 Stocks, net purchases,
or sales (-) -50,113 -2,287 -5,532
40 Foreign purchases 1,397,664 1,257,735 89,817
41 Foreign sales 1,447,777 1,260,022 95,349
42 Bonds, net purchases,
or sales (-) 30,502 28,406 (r) -1,811
43 Foreign purchases 1,160,102 1,377,017 140,390
44 Foreign sales 1,129,600 1,348,611 (r) 142,201
45 Net purchases, or
sales (-), of stocks
and bonds -19,611 26,119 (r) -7,343
46 Foreign countries -19,023 26,153 (r) -7,394
47 Europe -12,108 14,909 (r) -4,564
48 Canada 2,943 4,698 4,086
49 Latin America and
Caribbean 4,315 4,564 -7,843
50 Asia -11,869 1,584 370
51 Japan -20,116 -9,119 -617
52 Africa -557 -383 -48
53 Other countries -1,747 783 605
54 Nonmonetary interna-
tional and regional
organizations -587 -37 51
2002
Transaction, and area
or county July Aug. Sept. Oct.
U.S. corporate securities
STOCKS
1 Foreign purchases 318,210 257,265 206,729 297,181
2 Foreign sales 308,557 252,651 213,915 293,565
3 Net purchases, or
sales (-) 9,653 4,614 -6,466 3,616
4 Foreign countries 9,580 4,603 -6,451 3,610
5 Europe 3,204 3,830 -5,154 2,187
6 France 38 942 -936 982
7 Germany -595 -328 -1,175 276
8 Netherlands 1,440 900 4 760
9 Switzerland -341 -306 -949 -176
10 United Kingdom 1,828 2,801 -1,232 1,403
11 Channel Islands and
Isle of Man (1) 73 -47 -21 94
12 Canada 1,939 1,336 -772 342
13 Latin America and
Caribbean -1,319 -3,849 -2,903 -2,874
14 Middle East (2) 43 -58 46 -90
15 Other Asia 4,755 3,231 2,012 3,985
16 Japan 3,660 2,249 238 -7
17 Africa 3 -34 36 -22
18 Other countries 955 147 284 82
19 Nonmonetary interna-
tional and regional
organizations 73 11 -15 6
BONDS (3)
20 Foreign purchases 221,130 220,918 208,602 217,402
21 Foreign sales 205,389 189,016 183,671 185,366
22 Net purchases, or
sales (-) 15,741 31,902 24,931 32,036
23 Foreign countries 16,072 31,871 25,022 31,632
24 Europe 3,253 10,891 11,758 16,532
25 France 183 483 252 1,089
26 Germany 693 366 -390 -71
27 Netherlands 393 55 -35 149
28 Switzerland 1,406 1,825 356 355
29 United Kingdom -233 3,690 7,374 9,852
30 Channel Islands and
Isle of Man (1) -20 1,203 1,342 2,239
31 Canada -610 166 -383 540
32 Latin America and
Caribbean 1,840 9,706 3,464 4,339
33 Middle East (2) 125 578 40 196
34 Other Asia 10,336 9,026 9,602 10,126
35 Japan 4,754 1,975 6,135 5,505
36 Africa 112 77 171 -18
37 Other countries 1,016 1,427 370 -83
38 Nonmonetary interna-
tional and regional
organizations -331 31 -91 404
Foreign securities
39 Stocks, net purchases,
or sales (-) 13,299 3,061 790 -6,196
40 Foreign purchases 139,307 92,731 87,080 100,708
41 Foreign sales 126,008 89,670 86,290 106,904
42 Bonds, net purchases,
or sales (-) 7,722 -1,749 1,064 6,920
43 Foreign purchases 120,870 112,167 126,078 123,139
44 Foreign sales 113,148 113,916 125,014 116,219
45 Net purchases, or
sales (-), of stocks
and bonds 21,021 1,312 1,854 724
46 Foreign countries 21,111 1,287 1,876 671
47 Europe 11,479 568 1,420 679
48 Canada 1,917 4 -585 -1,326
49 Latin America and
Caribbean 1,897 -755 -521 -32
50 Asia 4,990 1,028 1,018 1,694
51 Japan 3,453 379 -862 13
52 Africa 205 393 -39 104
53 Other countries 623 49 583 -448
54 Nonmonetary interna-
tional and regional
organizations -90 25 -22 53
2002 2003
Transaction, and area
or county Nov. Dec. Jan. (p)
U.S. corporate securities
STOCKS
1 Foreign purchases 264,359 216,659 212,558
2 Foreign sales 257,879 214,243 216,056
3 Net purchases, or
sales (-) 6,480 2,416 -3,498
4 Foreign countries 6,473 2,400 -3,475
5 Europe 4,407 4,883 -1,887
6 France -323 676 206
7 Germany 31 518 -64
8 Netherlands 629 792 671
9 Switzerland 1,581 909 -721
10 United Kingdom 2,062 784 -2,758
11 Channel Islands and
Isle of Man (1) 23 -22 -2
12 Canada 47 746 19
13 Latin America and
Caribbean 2,692 -2,348 -3,088
14 Middle East (2) -232 71 -52
15 Other Asia -775 -894 1,313
16 Japan -961 -1,131 561
17 Africa -16 -20 38
18 Other countries 350 -38 182
19 Nonmonetary interna-
tional and regional
organizations 7 16 -23
BONDS (3)
20 Foreign purchases 259,305 207,380 224,521
21 Foreign sales 218,351 178,510 (r) 180,746
22 Net purchases, or
sales (-) 40,954 28,870 (r) 43,775
23 Foreign countries 40,914 28,684 (r) 43,919
24 Europe 17,116 10,526 (r) 24,301
25 France 382 -434 1,044
26 Germany 558 1,249 545
27 Netherlands -61 -19 206
28 Switzerland 743 304 1,154
29 United Kingdom 8,812 6,768 (r) 12,279
30 Channel Islands and
Isle of Man (1) 4,917 959 5,420
31 Canada -757 -2,180 -1,172
32 Latin America and
Caribbean 5,471 7,379 6,564
33 Middle East (2) 387 -120 591
34 Other Asia 18,374 12,944 13,593
35 Japan 10,456 4,863 4,025
36 Africa 56 28 53
37 Other countries 267 107 -11
38 Nonmonetary interna-
tional and regional
organizations 40 186 -144
Foreign securities
39 Stocks, net purchases,
or sales (-) -1,004 -2,713 -5,532
40 Foreign purchases 101,780 81,804 89,817
41 Foreign sales 102,784 84,517 95,349
42 Bonds, net purchases,
or sales (-) 2,269 -5,157 (r) -1,811
43 Foreign purchases 137,931 117,917 140,390
44 Foreign sales 135,662 123,074 (r) 142,201
45 Net purchases, or
sales (-), of stocks
and bonds 1,265 -7,870 (r) -7,343
46 Foreign countries 1,277 -7,884 (r) -7,394
47 Europe 6,119 -9,057 (r) -4,564
48 Canada -204 712 4,086
49 Latin America and
Caribbean 518 1,045 -7,843
50 Asia -5,256 -987 370
51 Japan -6,617 -2,039 -617
52 Africa 100 40 -48
53 Other countries 0 363 605
54 Nonmonetary interna-
tional and regional
organizations -12 14 51
(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
2003 2002
Jan.-
Area or country 2001 2002 Jan. July
1 Total estimated 18,514 83,202 1,783 18,097
2 Foreign countries 19,200 81,245 1,400 18,331
3 Europe -20,604 1,627 891 608
4 Belgium (2) -598 1,741 3,371 252
5 Germany -1,668 -6,709 -1,183 -3,725
6 Luxembourg (2) 462 -1,609 75 -84
7 Netherlands -6,728 -15,929 -4,084 171
8 Sweden -1,190 2,924 422 -169
9 Switzerland 1,412 -508 -86 246
l0 United Kingdom -7,279 21,924 1,313 6,515
11 Channel Islands and Isle
of Man (3) -179 714 -11 177
12 Other Europe and former
U.S.S.R. -4,836 -921 1,074 -2,775
13 Canada -1,634 -2,392 -666 -1,327
14 Latin America and Caribbean 4,272 22,027 -1,892 4,745
15 Venezuela 290 -59 20 -58
16 Other Latin America and
Caribbean 14,726 22,866 2,675 3,879
17 Netherlands Antilles -10,744 -780 -4,587 924
18 Asia 36,332 55,403 2,630 13,230
19 Japan 16,114 29,731 3,512 7,691
20 Africa -880 841 84 112
21 Other 1,714 3,739 353 963
22 Nonmonetary international and
regional organizations -686 1,957 383 -234
23 International -290 1,642 170 -64
24 Latin American Caribbean
regional 41 -3 -15 11
MEMO
25 Foreign countries 19,200 81,245 1,400 18,331
26 Official institutions 3,474 15,286 -636 -5,268
27 Other foreign 15,726 65,959 2,036 23,599
Oil-exporting countries
28 Middle East (4) 865 -4,062 509 -1,133
29 Africa (5) -2 29 0 0
2002
Area or country Aug. Sept. Oct.
1 Total estimated -3,226 31,141 6,742
2 Foreign countries -3,639 31,106 5,994
3 Europe -6,859 11,087 838
4 Belgium (2) 1,349 -138 -210
5 Germany -2,599 -1,096 -469
6 Luxembourg (2) -14 -265 61
7 Netherlands -700 1,436 -2,856
8 Sweden 471 234 -203
9 Switzerland -705 1,150 -1,727
l0 United Kingdom -4,878 12,703 5,071
11 Channel Islands and Isle
of Man (3) 444 -43 -116
12 Other Europe and former
U.S.S.R. -227 -2,894 1,287
13 Canada -1,558 2,236 -2,449
14 Latin America and Caribbean -11,841 7,753 7,219
15 Venezuela -15 -79 5
16 Other Latin America and
Caribbean -7,444 5,516 4,485
17 Netherlands Antilles -4,382 2,316 2,729
18 Asia 16,024 9,987 -54
19 Japan 6,676 13,096 -1,313
20 Africa 495 -93 12
21 Other 100 136 428
22 Nonmonetary international and
regional organizations 413 35 748
23 International 418 -45 329
24 Latin American Caribbean
regional -4 29 4
MEMO
25 Foreign countries -3,639 31,106 5,994
26 Official institutions 635 -3,511 -553
27 Other foreign -4,274 34,617 6,547
Oil-exporting countries
28 Middle East (4) -808 -412 913
29 Africa (5) -2 -1 0
2002 2003
Area or country Nov. Dec. Jan. (p)
1 Total estimated 21,097 14,290 1,783
2 Foreign countries 21,177 13,961 1,400
3 Europe 8,847 3,186 891
4 Belgium (2) 513 -193 3,371
5 Germany 1,658 1,610 -1,183
6 Luxembourg (2) -139 -201 75
7 Netherlands 1,427 3,261 -4,084
8 Sweden 1,652 902 422
9 Switzerland 2,389 -2,543 -86
l0 United Kingdom -45 -2,739 1,313
11 Channel Islands and Isle
of Man (3) -299 -84 -11
12 Other Europe and former
U.S.S.R. 1,691 3,173 1,074
13 Canada 3,165 1,028 -666
14 Latin America and Caribbean -1,758 6,074 -1,892
15 Venezuela -1 -73 20
16 Other Latin America and
Caribbean 319 1,652 2,675
17 Netherlands Antilles -2,076 4,495 -4,587
18 Asia 10,607 3,626 2,630
19 Japan 2,120 2,731 3,512
20 Africa -17 90 84
21 Other 333 -43 353
22 Nonmonetary international and
regional organizations -80 329 383
23 International 314 164 170
24 Latin American Caribbean
regional -19 0 -15
MEMO
25 Foreign countries 21,177 13,961 1,400
26 Official institutions 16,577 6,708 -636
27 Other foreign 4,600 7,253 2,036
Oil-exporting countries
28 Middle East (4) -139 -3,815 509
29 Africa (5) 1 55 0
(1.) Official and private transactions in marketable U.S. Treasury
securities having an original maturity of more than one year. Data
are based on monthly transactions reports. Excludes nonmarketable U.S.
Treasury bonds and notes held by official institutions
of foreign countries.
(2.) Before January 2001, combined data reported for Belgium and
Luxembourg.
(3.) Before January 2001, these data were included in the data
reported for the United Kingdom.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(5.) Comprises Algeria, Gabon, Libya, and Nigeria.
Interest and Exchange Rates
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 2000 2001 2002
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 58.15 51.69 54.37
2 Brazil/real 1.8301 2.3527 2.9213
3 Canada/dollar 1.4855 1.5487 1.5704
4 China, P.R./yuan 8.2784 8.2770 8.2770
5 Denmark/krone 8.0953 8.3323 7.8862
6 European Monetary
Union/euro (3) 0.9232 0.8952 0.9454
7 Greece/drachma 365.92 n.a. n.a.
8 Hong Kong/dollar 7.7924 7.7997 7.7997
9 India/rupee 45.00 47.22 48.63
l0 Japan/yen 107.80 121.57 125.22
11 Malaysia/ringgit 3.8000 3.8000 3.8000
12 Mexico/peso 9.459 9.337 9.663
13 New Zealand/dollar (2) 45.68 42.02 46.45
14 Norway/krone 8.8131 8.9964 7.9839
15 Singapore/dollar 1.7250 1.7930 1.7908
16 South Africa/rand 6.9468 8.6093 10.5176
17 South Korea/won 1,130.90 1,292.01 1,250.31
18 Sri Lanka/rupee 76.964 89.602 95.773
19 Sweden/krona 9.1735 10.3425 9.7233
20 Switzerland/franc 1.6904 1.6891 1.5567
21 Taiwan/dollar 31.260 33.824 34.536
21 Thailand/baht 40.210 44.532 43.019
23 United Kingdom/pound
(2) 151.56 143.96 150.25
24 Venezuela/bolivar 680.52 724.10 1,161.19
Indexes (4)
NOMINAL
25 Broad (January
1997=100) (5) 119.68 126.08 127.19
26 Major currencies
(March 1973=100) (6) 98.31 104.28 102.85
27 Other important
trading partners
(January 1997=100)
(7) 130.34 136.36 141.42
REAL
25 Broad (January
1973=100) (5) 104.58 (r) 110.60 (r) 110.99 (r)
26 Major currencies
(March 1973=100) (6) 103.62 (r) 111.06 (r) 109.68 (r)
27 Other important
trading partners
(March 1973=100) (7) 114.54 119.19 122.00 (r)
2002
Item Oct. Nov. Dec.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 55.02 56.13 56.24
2 Brazil/real 3.7966 3.5924 3.6268
3 Canada/dollar 1.5780 1.5715 1.5592
4 China, P.R./yuan 8.2772 8.2772 8.2777
5 Denmark/krone 7.5732 7.4201 7.2874
6 European Monetary
Union/euro (3) 0.9812 1.0013 1.0194
7 Greece/drachma n.a. n.a. n.a.
8 Hong Kong/dollar 7.7995 7.7994 7.7988
9 India/rupee 48.39 48.29 48.15
l0 Japan/yen 123.91 121.61 121.89
11 Malaysia/ringgit 3.8000 3.8000 3.8000
12 Mexico/peso 10.094 10.195 10.225
13 New Zealand/dollar (2) 48.18 49.73 51.08
14 Norway/krone 7.4873 7.3157 7.1557
15 Singapore/dollar 1.7843 1.7653 1.7532
16 South Africa/rand 10.3058 9.6509 8.9479
17 South Korea/won 1,240.19 1,210.20 1,206.61
18 Sri Lanka/rupee 96.402 96.426 96.705
19 Sweden/krona 9.2846 9.0652 8.9303
20 Switzerland/franc 1.4932 1.4658 1.4388
21 Taiwan/dollar 34.947 34.673 34.799
21 Thailand/baht 43.641 43.353 43.318
23 United Kingdom/pound
(2) 155.75 157.11 158.63
24 Venezuela/bolivar 1,440.50 1,358.61 1,328.29
Indexes (4)
NOMINAL
25 Broad (January
1997=100) (5) 127.63 126.33 125.70
26 Major currencies
(March 1973=100) (6) 100.93 99.53 98.62
27 Other important
trading partners
(January 1997=100)
(7) 145.69 144.85 144.87
REAL
25 Broad (January
1973=100) (5) 111.35 (r) 109.85 109.00 (r)
26 Major currencies
(March 1973=100) (6) 107.75 (r) 106.16 (r) 104.91 (r)
27 Other important
trading partners
(March 1973=100) (7) 125.46 (r) 123.96 (r) 123.60 (r)
2003
Item Jan. Feb. Mar.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 58.29 59.56 60.15
2 Brazil/real 3.4375 3.5955 3.4567
3 Canada/dollar 1.5414 1.5121 1.4761
4 China, P.R./yuan 8.2775 8.2780 8.2773
5 Denmark/krone 6.9980 6.8920 6.8807
6 European Monetary
Union/euro (3) 1.0622 1.0785 1.0797
7 Greece/drachma n.a. n.a. n.a.
8 Hong Kong/dollar 7.7994 7.7995 7.7991
9 India/rupee 47.96 47.75 47.68
l0 Japan/yen 118.81 119.34 118.69
11 Malaysia/ringgit 3.8000 3.8000 3.8000
12 Mexico/peso 10.622 10.945 10.905
13 New Zealand/dollar (2) 53.98 55.39 55.37
14 Norway/krone 6.9138 7.0004 7.2760
15 Singapore/dollar 1.7363 1.7451 1.7551
16 South Africa/rand 8.6949 8.2858 8.0506
17 South Korea/won 1,176.45 1,190.37 1,237.20
18 Sri Lanka/rupee 96.813 96.880 96.943
19 Sweden/krona 8.6368 8.4837 8.5440
20 Switzerland/franc 1.3765 1.3602 1.3614
21 Taiwan/dollar 34.571 34.734 34.721
21 Thailand/baht 42.773 42.897 42.783
23 United Kingdom/pound
(2) 161.75 160.79 158.25
24 Venezuela/bolivar 1,714.45 1,736.21 1,600.00
Indexes (4)
NOMINAL
25 Broad (January
1997=100) (5) 124.21 124.12 123.56
26 Major currencies
(March 1973=100) (6) 96.03 95.02 94.28
27 Other important
trading partners
(January 1997=100)
(7) 145.72 147.35 147.26
REAL
25 Broad (January
1973=100) (5) 107.84 (r) 107.98 (r) 107.76
26 Major currencies
(March 1973=100) (6) 102.43 (r) 101.82 (r) 101.02
27 Other important
trading partners
(March 1973=100) (7) 124.25 (r) 125.50 (r) 126.15
(1.) Averages of certified noon buying rates in New York for cable
transfers. Data in this table also appear in the Board's G.5 (405)
monthly statistical release. For ordering address, see inside
front cover.
(2.) U.S. cents per currency unit.
(3.) The euro is reported in place of the individual euro area
currencies. By convention, the rate is reported in U.S. dollars
per euro. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies
per euro) as shown below:
Euro equals
13.7603 Austrian schillings
40.3399 Belgian francs
5.94573 Finnish markkas
6.55957 French francs
1.95583 German marks
.787564 Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
340.750 Greek drachmas
(4.) Starting with the March 2003 Bulletin, revised index values
resulting from the periodic revision of data that underlie the
calculated trade weights are reported. For more information on
the indexes of the foreign exchange value of the dollar, see
Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
(5.) Weighted average of the foreign exchange value of the U.S.
dollar against the currencies of a broad group of U.S. trading
partners. The weight for each currency is computed as an average
of U.S. bilateral import shares from and export shares to the
issuing country and of a measure of the importance to U.S.
exporters of that country's trade in third country markets.
(6.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that circulate
widely outside the country of issue. The weight for each currency
is its broad index weight scaled so that the weights of the subset
of currencies in the index sum to one.
(7.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that do not
circulate widely outside the country of issue. The weight for
each currency is its broad index weight scaled so that the
weights of the subset of currencies in the index sum to one.
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